6,327 research outputs found
Efficiently Learning from Revealed Preference
In this paper, we consider the revealed preferences problem from a learning
perspective. Every day, a price vector and a budget is drawn from an unknown
distribution, and a rational agent buys his most preferred bundle according to
some unknown utility function, subject to the given prices and budget
constraint. We wish not only to find a utility function which rationalizes a
finite set of observations, but to produce a hypothesis valuation function
which accurately predicts the behavior of the agent in the future. We give
efficient algorithms with polynomial sample-complexity for agents with linear
valuation functions, as well as for agents with linearly separable, concave
valuation functions with bounded second derivative.Comment: Extended abstract appears in WINE 201
Realizing lateral wrap-gated nanowire FETs: Controlling gate length with chemistry rather than lithography
An important consideration in miniaturizing transistors is maximizing the
coupling between the gate and the semiconductor channel. A nanowire with a
coaxial metal gate provides optimal gate-channel coupling, but has only been
realized for vertically oriented nanowire transistors. We report a method for
producing laterally oriented wrap-gated nanowire field-effect transistors that
provides exquisite control over the gate length via a single wet etch step,
eliminating the need for additional lithography beyond that required to define
the source/drain contacts and gate lead. It allows the contacts and nanowire
segments extending beyond the wrap-gate to be controlled independently by
biasing the doped substrate, significantly improving the sub-threshold
electrical characteristics. Our devices provide stronger, more symmetric gating
of the nanowire, operate at temperatures between 300 to 4 Kelvin, and offer new
opportunities in applications ranging from studies of one-dimensional quantum
transport through to chemical and biological sensing.Comment: 16 pages, 5 figures. Submitted version, published version available
at http://http://pubs.acs.org/journal/nalef
Volatility and dividend risk in perpetual American options
American options are financial instruments that can be exercised at any time
before expiration. In this paper we study the problem of pricing this kind of
derivatives within a framework in which some of the properties --volatility and
dividend policy-- of the underlaying stock can change at a random instant of
time, but in such a way that we can forecast their final values. Under this
assumption we can model actual market conditions because some of the most
relevant facts that may potentially affect a firm will entail sharp predictable
effects. We will analyse the consequences of this potential risk on perpetual
American derivatives, a topic connected with a wide class of recurrent problems
in physics: holders of American options must look for the fair price and the
optimal exercise strategy at once, a typical question of free absorbing
boundaries. We present explicit solutions to the most common contract
specifications and derive analytical expressions concerning the mean and higher
moments of the exercise time.Comment: 21 pages, 5 figures, iopart, submitted for publication; deep
revision, two new appendice
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Volatility term structures in commodity markets
In this study, we comprehensively examine the volatility term structures in commodity markets. We model state‐dependent spillovers in principal components (PCs) of the volatility term structures of different commodities, as well as that of the equity market. We detect strong economic links and a substantial interconnectedness of the volatility term structures of commodities. Accounting for intra‐commodity‐market spillovers significantly improves out‐of‐sample forecasts of the components of the volatility term structure. Spillovers following macroeconomic news announcements account for a large proportion of this forecast power. There thus seems to be substantial information transmission between different commodity markets
The Hall algebras of annuli
We refine and prove the central conjecture of our first paper for annuli with at least two marked intervals on each boundary component by computing the derived Hall algebras of their Fukaya categories
Imaging a 1-electron InAs quantum dot in an InAs/InP nanowire
Nanowire heterostructures define high-quality few-electron quantum dots for
nanoelectronics, spintronics and quantum information processing. We use a
cooled scanning probe microscope (SPM) to image and control an InAs quantum dot
in an InAs/InP nanowire, using the tip as a movable gate. Images of dot
conductance vs. tip position at T = 4.2 K show concentric rings as electrons
are added, starting with the first electron. The SPM can locate a dot along a
nanowire and individually tune its charge, abilities that will be very useful
for the control of coupled nanowire dots
Activity Dependent Branching Ratios in Stocks, Solar X-ray Flux, and the Bak-Tang-Wiesenfeld Sandpile Model
We define an activity dependent branching ratio that allows comparison of
different time series . The branching ratio is defined as . The random variable is the value of the next signal given
that the previous one is equal to , so . If
, the process is on average supercritical when the signal is equal to
, while if , it is subcritical. For stock prices we find
within statistical uncertainty, for all , consistent with an ``efficient
market hypothesis''. For stock volumes, solar X-ray flux intensities, and the
Bak-Tang-Wiesenfeld (BTW) sandpile model, is supercritical for small
values of activity and subcritical for the largest ones, indicating a tendency
to return to a typical value. For stock volumes this tendency has an
approximate power law behavior. For solar X-ray flux and the BTW model, there
is a broad regime of activity where , which we interpret as an
indicator of critical behavior. This is true despite different underlying
probability distributions for , and for . For the BTW model the
distribution of is Gaussian, for sufficiently larger than one, and
its variance grows linearly with . Hence, the activity in the BTW model
obeys a central limit theorem when sampling over past histories. The broad
region of activity where is close to one disappears once bulk dissipation
is introduced in the BTW model -- supporting our hypothesis that it is an
indicator of criticality.Comment: 7 pages, 11 figure
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