Bank Runs and Costly Information

In this paper, we model the deposit market with costly information on bank risks. The model adds to the volume of literature related to the Diamond-Dybvig mod-el and related models of information-based bank runs. The inclusion of costly infor-mation signals indicates that depositors must decide whether to pay for information regarding changes in the riskiness of banking activities; these costs may involve, for instance, time and other resources needed to find and read financial information. We show that an efficient bank run is the only equilibrium even in case of non-negative information costs. To ensure the uniqueness of the efficient bank run equilibrium it is enough to lower the costs for at least one group of the depositors or introduce the deposit insurance system with co-insurance.bank run, market discipline, banking system transparency

Objectives and conditions for protection of unique peatlands in the south of Western Siberia in connection with issues of conservation and use of unique reed mire in suburbs of Tomsk

The article covers the issues of protection of the wetlands located in different natural and economic conditions of Western Siberia. The main focus is on preservation and wise use of the peatlands in the southern part of the West Siberian Plain, which was greatly altered and transformed during the long-term economic development. The field research was conducted in the southern suburbs of Tomsk. A unique peatland, which is an object of a special protection effort, is described in this work. The peatland develops in the conditions of a rich groundwater feed. The peatland deposits are a mixture of peat and travertine. The extension area and the maximum thickness of organo-mineral deposits were determined. The composition of the peat deposits waters and feeding springs was studied. The specific properties of the surface waters formed under the influence of the wedging-out underground waters of the Paleozoic horizons were considered. The flora and vegetation of the study area were analyzed. A list of rare and endangered plant species was compiled. The ecological and social value of the investigated territory was substantiated. As a result we defined pertinent measures needed to protect the natural landscape and to use wisely its resources

The unique nature monuments of the Chai River basin (Tomsk oblast, Western Siberia)

Brief information is given on the nature and the monuments of nature in the basin of the Chaya river in the Chainskiy district of the Tomsk oblast. The current state of the main natural attractions of the area, described in the scientific works of the beginning of the XX century, is considered: the 'Kulayka mountain' – a natural and ancient monument of the peoples of Siberia and a wild habitat of linden (TIlia cordata Mill.) trees – a relic of the Tertiary Era. The general analysis of the expansion of linden in the Western Siberian region is provided. The data is provided on the isolated locations of the linden habitats in the Western Siberia beyond its modern habitat. The chief attention is given to the description of the natural habitat of linden on the right bank of the Chaya river in the Tomsk oblast. A history of discovery, research and protection of the 'Linden Island' in the Tomsk region is summarized. The main reasons for the study of the 'Linden Island' on the Chaya river are presented. The specifics of the ecological status of T. cordata in the harsh conditions of the Western Siberia are considered. The data on the current state of the 'Linden Island' in the Tomsk oblast are presented in comparison with the data from the previous researchers. It proposes measures to ensure protection of the unique natural monuments in the Chaya river basin

Optical and electronic properties of low-density InAs/InP quantum dot-like structures devoted to single-photon emitters at telecom wavelengths

Due to their band-structure and optical properties, InAs/InP quantum dots (QDs) constitute a promising system for single-photon generation at third telecom window of silica fibers and for applications in quantum communication networks. However, obtaining the necessary low in-plane density of emitters remains a challenge. Such structures are also still less explored than their InAs/GaAs counterparts regarding optical properties of confined carriers. Here, we report on the growth via metal-organic vapor phase epitaxy and investigation of low-density InAs/InP QD-like structures, emitting in the range of 1.2-1.7 ${\mu}$m, which includes the S, C, and L bands of the third optical window. We observe multiple photoluminescence (PL) peaks originating from flat QDs with height of small integer numbers of material monolayers. Temperature-dependent PL reveals redistribution of carriers between families of QDs. Via time-resolved PL, we obtain radiative lifetimes nearly independent of emission energy in contrast to previous reports on InAs/InP QDs, which we attribute to strongly height-dependent electron-hole correlations. Additionally, we observe neutral and charged exciton emission from spatially isolated emitters. Using the 8-band k${\cdot}$p model and configuration-interaction method, we successfully reproduce energies of emission lines, the dispersion of exciton lifetimes, carrier activation energies, as well as the biexciton binding energy, which allows for a detailed and comprehensive analysis of the underlying physics.Comment: 13 pages, 9 figure

Noise impact on recurrent neural network with linear activation function

In recent years, more and more researchers in the field of neural networks are interested in creating hardware implementations where neurons and the connection between them are realized physically. The physical implementation of ANN fundamentally changes the features of noise influence. In the case hardware ANNs, there are many internal sources of noise with different properties. The purpose of this paper is to study the peculiarities of internal noise propagation in recurrent ANN on the example of echo state network (ESN), to reveal ways to suppress such noises and to justify the stability of networks to some types of noises. In this paper we analyse ESN in presence of uncorrelated additive and multiplicative white Gaussian noise. Here we consider the case when artificial neurons have linear activation function with different slope coefficients. Starting from studying only one noisy neuron we complicate the problem by considering how the input signal and the memory property affect the accumulation of noise in ESN. In addition, we consider the influence of the main types of coupling matrices on the accumulation of noise. So, as such matrices, we take a uniform matrix and a diagonal-like matrices with different coefficients called "blurring" coefficient. We have found that the general view of variance and signal-to-noise ratio of ESN output signal is similar to only one neuron. The noise is less accumulated in ESN with diagonal reservoir connection matrix with large "blurring" coefficient. Especially it concerns uncorrelated multiplicative noise.Comment: 12 pages, 6 figures, 23 reference

Non-strange and strange pentaquarks with hidden charm

Non-strange and strange pentaquaks with hidden charm are considered as diquark-diquark-antiquark composite systems. Spin and isospin content of such exotic states is discussed and masses are evaluated.Comment: 8 page