Incremental Risk Vulnerability

We present a necessary and sufficient condition on an agent’s utility function for a simple mean preserving spread in an independent background risk to increase the agent’s risk aversion (incremental risk vulnerability). Gollier and Pratt (1996) have shown that declining and convex risk aversion as well as standard risk aversion are sufficient for risk vulnerability. We show that these conditions are also sufficient for incremental risk vulnerability. In addition, we present sufficient conditions for a restricted set of stochastic increases in an independent background risk to increase risk aversion.

Novel magnetic properties of graphene: Presence of both ferromagnetic and antiferromagnetic features and other aspects

Investigations of the magnetic properties of graphenes prepared by different methods reveal that dominant ferromagnetic interactions coexist along with antiferromagnetic interactions in all the samples. Thus, all the graphene samples exhibit room-temperature magnetic hysteresis. The magnetic properties depend on the number of layers and the sample area, small values of both favoring larger magnetization. Molecular charge-transfer affects the magnetic properties of graphene, interaction with a donor molecule such as tetrathiafulvalene having greater effect than an electron-withdrawing molecule such as tetracyanoethyleneComment: 16 pges, 5 figure

Nature & Role of Metal-Oxygen Bond in the Activity of a Zn-Cr-Fe Oxide Catalyst

589-59

Genetic analysis of variegation mutants of pearl millet, Pennisetum glaucum

Intercrosses between different variegated lines of Pennisetum glaucum (L.) R.Br. were made to determine their allelic composition and the number of loci controlling plastid alterations. Self-pollinations of different variegated plants resulted in normal, variegated, and yellow or white progeny. Crosses among yellow stripe mutants (IP 5009, IP 9712, IP 482) resulted in normal and yellow progeny in the F1, and normal and yellow stripe in the F2 generations, indicating the complementary interaction of two loci in each cross. Reciprocal crosses between the yellow stripe mutants IP 5009 and IP 13160-1 revealed similarity in their genotypes. Progeny composition from the crosses between the white stripe mutants VCM-36 and GWS-14 indicated their genotypic similarities. Crosses between yellow stripe and white stripe mutants (IP 5009 × VCM-36, IP 482 × VCM-36) indicated differences in their genotypes. Comparison of segregation patterns in the progenies of intercrosses revealed at least 4 independent loci, any one of which in recessive condition leads to mutant phenotype(s) while the development of chlorophyll is accomplished by the complementary interaction of dominant genes at these loci. Among the recessive genotypes in the F2s from intergenotypic crosses, the mutant phenotypes fell short of expectation, indicating differential penetrance in expression

Behaviour of Oxide Catalysts During the Catalysed Reactions of Propan-2-ol

586-58

The Term Structure of Interest-Rate Future Prices

We derive general properties of two-factor models of the term structure of interest rates and, in particular, the process for futures prices and rates. Then, as a special case, we derive a no-arbitrage model of the term structure in which any two futures rates act as factors. The term structure shifts and tilts as the factor rates vary. The cross-sectional properties of the model derive from the solution of a two-dimensional autoregressive process for the short-term rate, which exhibits both mean reversion and a lagged persistence parameter. We show that the correlation of the futures rates is restricted by the no-arbitrage conditions of the model. In addition, we investigate the determinants of the volatility of the futures rates of various maturities. These are shown to be related to the volatilities of the short rate, the volatility of the second factor, the degree of mean reversion and the persistence of the second factor shock. We obtain specific results for futures rates in the case where the logarithm of the short-term rate [e.g., the London Inter-Bank Offer Rate (Libor)] follows a two-dimensional process. Our results lead to empirical hypotheses that are testable using data from the liquid market for Eurocurrency interest rate futures contracts

Nonlinear bending-torsional vibration and stability of rotating, pretwisted, preconed blades including Coriolis effects

The coupled bending-bending-torsional equations of dynamic motion of rotating, linearly pretwisted blades are derived including large precone, second degree geometric nonlinearities and Coriolis effects. The equations are solved by the Galerkin method and a linear perturbation technique. Accuracy of the present method is verified by comparisons of predicted frequencies and steady state deflections with those from MSC/NASTRAN and from experiments. Parametric results are generated to establish where inclusion of only the second degree geometric nonlinearities is adequate. The nonlinear terms causing torsional divergence in thin blades are identified. The effects of Coriolis terms and several other structurally nonlinear terms are studied, and their relative importance is examined

Interspecific hybridization with Hordeum bulbosum and development of hybrids and haploids

Subrahmanyam, N.C. and Bothmer, R. von, 1987. Interspecific hybridization with Hordeum bulbosum and development of hybrids and haploids. - Hereditas 106: 119-127. Lund, Sweden. ISSN 001-0661. Received May 2, 1986.A total of 64 interspecific crossing combinations with H. bulbosum (2x and 4x) were attempted. The maximum seed set was generally very high. Progeny was obtained in 19 combinations with diploid and 13 combinations with tetraploid H. bulbosum. As a result of selective chromosome elimination, haploids were recorded in 7 interspecific combinations with diploid and 7 with tctraploid H. bulbosum. There are 7 new haploid-producing combinations, viz. H. cordobense monohaploids, H. marinum mono- and dihaploids. and H. brevisubularum di- and trihaploids in crosses with H. bulbosum (4x), H. capense dihaploids and H. murinum dihaploids with H. bulbosum (2x). The theory of a hierarchical chromosome elimination system is strengthened by the present results.Roland yon Bothmer, Department of Crop Genetics and Breeding, Swedish University of Agricultural Sciences, S-268 00 Svalov, Sweden

The Valuation of American-style Swaptions in a Two-factor Spot-Futures Model1

We build a no-arbitrage model of the term structure of interest rates using two stochastic factors, the short-term interest rate and the premium of the futures rate over the short-term interest rate. The model provides and extension of the lognormal interest rate model of Black and Karasinski (1991) to two factors, both of which can exhibit mean-reversion. The method is computationally efficient for several reasons. First, the model is based on Libor futures prices, enabling us to satisfy the no-arbitrage condition without resorting to iterative methods. Second, we modify and implement the binomial approximation methodology of Nelson and Ramaswamy (1990) and Ho, Stapleton and Subrahmanyam (1995) to compute a multiperiod tree of rates with the no-arbitrage property. The method uses a recombining two-dimensional binomial lattice of interest rates that minimizes the number of states and term structures over time. In addition to these computational advantages, a key feature of the model is that it is consistent with the observed term structure of futures rates as well as the term structure of volatilities implied by the prices of interest rate caps and floors. These prices are shown to be highly sensitive to the existence of the second factor and its volatility characteristics

Quenching of fluorescence of aromatic molecules by graphene due to electron transfer

Investigations on the fluorescence quenching of graphene have been carried out with two organic donor molecules, pyrene butanaoic acid succinimidyl ester (PyBS, I) and oligo(p-phenylenevinylene) methyl ester (OPV-ester, II). Absorption and photoluminescence spectra of I and II recorded in mixture with increasing the concentrations of graphene showed no change in the former, but remarkable quenching of fluorescence. The property of graphene to quench fluorescence of these aromatic molecules is shown to be associated with photo-induced electron transfer, on the basis of fluorescence decay and time-resolved transient absorption spectroscopic measurements.Comment: 18 pages, 6 figure