Is Quantum Einstein Gravity Nonperturbatively Renormalizable?

We find considerable evidence supporting the conjecture that four-dimensional Quantum Einstein Gravity is ``asymptotically safe'' in Weinberg's sense. This would mean that the theory is likely to be nonperturbatively renormalizable and thus could be considered a fundamental (rather than merely effective) theory which is mathematically consistent and predictive down to arbitrarily small length scales. For a truncated version of the exact flow equation of the effective average action we establish the existence of a non-Gaussian renormalization group fixed point which is suitable for the construction of a nonperturbative infinite cutoff-limit. The truncation ansatz includes the Einstein-Hilbert action and a higher derivative term.Comment: 18 pages, latex, 3 figure

Correlation Structures of Correlated Binomial Models and Implied Default Distribution

We show how to analyze and interpret the correlation structures, the conditional expectation values and correlation coefficients of exchangeable Bernoulli random variables. We study implied default distributions for the iTraxx-CJ tranches and some popular probabilistic models, including the Gaussian copula model, Beta binomial distribution model and long-range Ising model. We interpret the differences in their profiles in terms of the correlation structures. The implied default distribution has singular correlation structures, reflecting the credit market implications. We point out two possible origins of the singular behavior.Comment: 16 pages, 7 figure

Small-scale anisotropy of cosmic rays above 10^19eV observed with the Akeno Giant Air Shower Array

With the Akeno Giant Air Shower Array (AGASA), 581 cosmic rays above 10^19eV, 47 above 4 x 10^19eV, and 7 above 10^20eV are observed until August 1998. Arrival direction distribution of these extremely high energy cosmic rays has been studied. While no significant large-scale anisotropy is found on the celestial sphere, some interesting clusters of cosmic rays are observed. Above 4 x 10^19eV, there are one triplet and three doublets within separation angle of 2.5^o and the probability of observing these clusters by a chance coincidence under an isotropic distribution is smaller than 1 %. Especially the triplet is observed against expected 0.05 events. The cos(\theta_GC) distribution expected from the Dark Matter Halo model fits the data as well as an isotropic distribution above 2 x 10^19eV and 4 x 10^19eV, but is a poorer fit than isotropy above 10^19eV. Arrival direction distribution of seven 10^20eV cosmic rays is consistent with that of lower energy cosmic rays and is uniform. Three of seven are members of doublets above about 4 x 10^19eV.Comment: 40 pages, 12 figure, AASTeX *** Authors found a typo on Table 2 -- Energy of event 94/07/06 **

Infectious Default Model with Recovery and Continuous Limit

We introduce an infectious default and recovery model for N obligors. Obligors are assumed to be exchangeable and their states are described by N Bernoulli random variables S_{i} (i=1,...,N). They are expressed by multiplying independent Bernoulli variables X_{i},Y_{ij},Y'_{ij}, and default and recovery infections are described by Y_{ij} and Y'_{ij}. We obtain the default probability function P(k) for k defaults. Taking its continuous limit, we find two nontrivial probability distributions with the reflection symmetry of S_{i} \leftrightarrow 1-S_{i}. Their profiles are singular and oscillating and we understand it theoretically. We also compare P(k) with an implied default distribution function inferred from the quotes of iTraxx-CJ. In order to explain the behavior of the implied distribution, the recovery effect may be necessary.Comment: 13 pages, 7 figure

Yard-Sale exchange on networks: Wealth sharing and wealth appropriation

Yard-Sale (YS) is a stochastic multiplicative wealth-exchange model with two phases: a stable one where wealth is shared, and an unstable one where wealth condenses onto one agent. YS is here studied numerically on 1d rings, 2d square lattices, and random graphs with variable average coordination, comparing its properties with those in mean field (MF). Equilibrium properties in the stable phase are almost unaffected by the introduction of a network. Measurement of decorrelation times in the stable phase allow us to determine the critical interface with very good precision, and it turns out to be the same, for all networks analyzed, as the one that can be analytically derived in MF. In the unstable phase, on the other hand, dynamical as well as asymptotic properties are strongly network-dependent. Wealth no longer condenses on a single agent, as in MF, but onto an extensive set of agents, the properties of which depend on the network. Connections with previous studies of coalescence of immobile reactants are discussed, and their analytic predictions are successfully compared with our numerical results.Comment: 10 pages, 7 figures. Submitted to JSTA

Extension of the Cosmic-Ray Energy Spectrum Beyond the Predicted Greisen-Zatsepin-Kuz'min Cutoff

The cosmic-ray energy spectrum above 10^{18.5} eV is reported using the updated data set of the Akeno Giant Air Shower Array (AGASA) from February 1990 to October 1997. The energy spectrum extends beyond 10^{20} eV and the energy gap between the highest energy event and the others is being filled up with recently observed events. The spectral shape suggests the absence of the 2.7 K cutoff in the energy spectrum or a possible presence of a new component beyond the 2.7 K cutoff.Comment: to be published in PRL, 3 figures, REVTEX forma

Observation of an Orbital Selective Electron-Mode Coupling in Fe-Based High-TcT_c Superconductors

We have performed an angle-resolved photoemission spectroscopy study of the new superconductor Ba$_{0.6}$K$_{0.4}$Fe$_2$As$_2$ in the low energy range. We report the observation of an anomaly around 25 meV in the dispersion of superconducting Ba$_{0.6}$K$_{0.4}$Fe$_2$As$_2$ samples that nearly vanishes above $T_c$. The energy scale of the related mode (13$\pm$2 meV) and its strong dependence on orbital and temperature indicates that it is unlikely related to phonons. Moreover, the momentum locations of the kink can be connected by the antiferromagnetic wavevector. Our results point towards an unconventional electronic origin of the mode and the superconducting pairing in the Fe-based superconductors, and strongly support the anti-phase s-wave pairing symmetry.Comment: 4 pages, 3 figure

Electronic structure of optimally doped pnictide Ba0.6_{0.6}K0.4_{0.4}Fe2_2As2_2: a comprehensive ARPES investigation

We have conducted a comprehensive angle-resolved photoemission study on the normal state electronic structure of the Fe-based superconductor Ba$_{0.6}$K$_{0.4}$Fe$_2$As$_2$. We have identified four dispersive bands which cross the Fermi level and form two hole-like Fermi surfaces around $\Gamma$ and two electron-like Fermi surfaces around M. There are two nearly nested Fermi surface pockets connected by an antiferromagnetic ($\pi$, $\pi$) wavevector. The observed Fermi surfaces show small $k_z$ dispersion and a total volume consistent with Luttinger theorem. Compared to band structure calculations, the overall bandwidth is reduced by a factor of 2. However, many low energy dispersions display stronger mass renormalization by a factor of $\sim$ 4, indicating possible orbital (energy) dependent correlation effects. Using an effective tight banding model, we fitted the band structure and the Fermi surfaces to obtain band parameters reliable for theoretical modeling and calculations of the important physical quantities, such as the specific heat coefficient.Comment: 13 pages, 4 figure

Size-Dependency of Income Distributions and Its Implications

This paper highlights the size-dependency of income distributions, i.e. the income distribution curves versus the population of a country systematically. By using the generalized Lotka-Volterra model to fit the empirical income data in the United States during 1996-2007, we found an important parameter $\lambda$ can scale with a $\beta$ power of the size (population) of U.S. in that year. We pointed out that the size-dependency of the income distributions, which is a very important property but seldom addressed by previous studies, has two non-trivial implications: (1) the allometric growth pattern, i.e. the power law relationship between population and GDP in different years, which can be mathematically derived from the size-dependent income distributions and also supported by the empirical data; (2) the connection with the anomalous scaling for the probability density function in critical phenomena since the re-scaled form of the income distributions has the exactly same mathematical expression for the limit distribution of the sum of many correlated random variables asymptotically.Comment: 4 figures, 4 page

An statistical analysis of stratification and inequity in the income distribution

The analysis of the USA 2001 income distribution shows that it can be described by at least two main components, which obey the generalized Tsallis statistics with different values of the q parameter. Theoretical calculations using the gas kinetics model with a distributed saving propensity factor and two ensembles reproduce the empirical data and provide further information on the structure of the distribution, which shows a clear stratification. This stratification is amenable to different interpretations, which are analyzed. The distribution function is invariant with the average individual income, which implies that the inequity of the distribution cannot be modified by increasing the total income.Comment: 22 pages, 3 figure