Asymptotic proportion of arbitrage points in fractional binary markets

A fractional binary market is an approximating sequence of binary models for the fractional Black-Scholes model, which Sottinen constructed by giving an analogue of the Donsker's theorem. In a binary market the arbitrage condition can be expressed as a condition on the nodes of a binary tree. We call "arbitrage points" the points in the binary tree which verify such an arbitrage condition and "arbitrage paths" the paths in the binary tree which cross at least one arbitrage point. Using this terminology, a binary market admits arbitrage if and only if there is at least one arbitrage point in the binary tree or equivalently if there is at least one arbitrage path. Following the lines of Sottinen, who showed that the arbitrage persists in the fractional binary market, we further prove that starting from any point in the tree, we can reach an arbitrage point. This implies that, in the limit, there is an infinite number of arbitrage points. Next, we provide an in-depth analysis of the asymptotic proportion of arbitrage points at asymptotic levels and of arbitrage paths in the fractional binary market. All these results are obtained by studying a rescaled disturbed random walk. We moreover show that, when $H$ is close to $1$, with probability $1$ a path in the binary tree crosses an infinite number of arbitrage points. In particular, for such $H$, the asymptotic proportion of arbitrage paths is equal to $1$

LABOR

University of Michiganhttp://deepblue.lib.umich.edu/bitstream/2027.42/156269/1/Labor_Thesis_Irene_Perez_.pd

A "quick look" at ultrafast ablation using fs-resolved phase-change microscopy

A pump-probe phase-change microscope with fs temporal resolution has been used to understand the transformation induced in the sample surface as a consequence of laser-matter interaction.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

Giant Collective Spin-Orbit Field in a Quantum Well: Fine Structure of Spin Plasmons

We employ inelastic light scattering with magnetic fields to study intersubband spin plasmons in a quantum well. We demonstrate the existence of a giant collective spin-orbit (SO) field that splits the spin-plasmon spectrum into a triplet. The effect is remarkable as each individual electron would be expected to precess in its own momentum-dependent SO field, leading to D'yakonov-Perel' dephasing. Instead, many-body effects lead to a striking organization of the SO fields at the collective level. The macroscopic spin moment is quantized by a uniform collective SO field, five times higher than the individual SO field. We provide a momentum-space cartography of this field.Comment: 5 pages, 4 figures. Supplemental material available here as an ancillary fil

Coulomb-driven organization and enhancement of spin-orbit fields in collective spin excitations

Spin-orbit (SO) fields in a spin-polarized electron gas are studied by angle-resolved inelastic light scattering on a CdMnTe quantum well. We demonstrate a striking organization and enhancement of SO fields acting on the collective spin excitation (spin-flip wave). While individual electronic SO fields have a broadly distributed momentum dependence, giving rise to D'yakonov-Perel' dephasing, the collective spin dynamics is governed by a single collective SO field which is drastically enhanced due to many-body effects. The enhancement factor is experimentally determined. These results provide a powerful indication that these constructive phenomena are universal to collective spin excitations of conducting systems.Comment: 5 pages, 4 figure

Femtosecond time-resolved phase-change microscopy and ablation threshold calculations to understand ultrafast laser ablation

El trabajo recoge experimentos realizados en una configuración sonda-prueba haciendo uso de un láser de femtosegundos, con el objetivo de comprender los fenómenos de ablación de materiales sólidos ras irradiación con láseres de pulso ultracorto.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

Cardiac Mineralocorticoid Receptor and the Na+/H+ Exchanger: Spilling the Beans

Current evidence reveals that cardiac mineralocorticoid receptor (MR) activation following myocardial stretch plays an important physiological role in adapting developed force to sudden changes in hemodynamic conditions. Its underlying mechanism involves a previously unknown nongenomic effect of the MR that triggers redox-mediated Na+/H+ exchanger (NHE1) activation, intracellular Na+ accumulation, and a consequent increase in Ca2+ transient amplitude through reverse Na+/Ca2+ exchange. However, clinical evidence assigns a detrimental role to MR activation in the pathogenesis of severe cardiac diseases such as congestive heart failure. This mini review is meant to present and briefly discuss some recent discoveries about locally triggered cardiac MR signals with the objective of shedding some light on its physiological but potentially pathological consequences in the heart.Fil: Ennis, Irene Lucia. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - La Plata. Centro de Investigaciones Cardiovasculares "Dr. Horacio Eugenio Cingolani". Universidad Nacional de La Plata. Facultad de Ciencias Médicas. Centro de Investigaciones Cardiovasculares "Dr. Horacio Eugenio Cingolani"; ArgentinaFil: Perez, Nestor Gustavo. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - La Plata. Centro de Investigaciones Cardiovasculares "Dr. Horacio Eugenio Cingolani". Universidad Nacional de La Plata. Facultad de Ciencias Médicas. Centro de Investigaciones Cardiovasculares "Dr. Horacio Eugenio Cingolani"; Argentin

Cardiac mineralocorticoid receptor and the Na+/H+ exchanger: Spilling the beans.

Current evidence reveals that cardiac mineralocorticoid receptor (MR) activation following myocardial stretch plays an important physiological role in adapting developed force to sudden changes in hemodynamic conditions. Its underlying mechanism involves a previously unknown nongenomic effect of the MR that triggers redox-mediated Na+/H+ exchanger (NHE1) activation, intracellular Na+ accumulation, and a consequent increase in Ca2+ transient amplitude through reverse Na+/Ca2+ exchange. However, clinical evidence assigns a detrimental role to MR activation in the pathogenesis of severe cardiac diseases such as congestive heart failure. This mini review is meant to present and briefly discuss some recent discoveries about locally triggered cardiac MR signals with the objective of shedding some light on its physiological but potentially pathological consequences in the heart.Fil: Ennis, Irene Lucia. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - La Plata. Centro de Investigaciones Cardiovasculares "Dr. Horacio Eugenio Cingolani". Universidad Nacional de La Plata. Facultad de Ciencias Médicas. Centro de Investigaciones Cardiovasculares "Dr. Horacio Eugenio Cingolani"; ArgentinaFil: Perez, Nestor Gustavo. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - La Plata. Centro de Investigaciones Cardiovasculares "Dr. Horacio Eugenio Cingolani". Universidad Nacional de La Plata. Facultad de Ciencias Médicas. Centro de Investigaciones Cardiovasculares "Dr. Horacio Eugenio Cingolani"; Argentin