On pricing kernels, information and risk

We discuss the finding that cross-sectional characteristic based models have yielded portfolios with higher excess monthly returns but lower risk than their arbitrage pricing theory counterparts in an analysis of equity returns of stocks listed on the JSE. Under the assumption of general no-arbitrage conditions, we argue that evidence in favour of characteristic based pricing implies that information is more likely assimilated by means of nonlinear pricing kernels for the markets considered.Comment: 20 pages, 3 figures, 1 tabl

General relativistic analysis of peculiar velocities

We give a careful general relativistic and (1+3)-covariant analysis of cosmological peculiar velocities induced by matter density perturbations in the presence of a cosmological constant. In our quasi-Newtonian approach, constraint equations arise to maintain zero shear of the non-comoving fundamental worldlines which define a Newtonian-like frame, and these lead to the (1+3)-covariant dynamical equations, including a generalized Poisson-type equation. We investigate the relation between peculiar velocity and peculiar acceleration, finding the conditions under which they are aligned. In this case we find (1+3)-covariant relativistic generalizations of well-known Newtonian results.Comment: 8 pages, LaTeX2e (iopart); minor changes, matches version accepted for publication by Classical and Quantum Gravit

Identification of the protein kinases Pyk3 and Phg2 as regulators of the STATc-mediated response to hyperosmolarity

Cellular adaptation to changes in environmental osmolarity is crucial for cell survival. In Dictyostelium, STATc is a key regulator of the transcriptional response to hyperosmotic stress. Its phosphorylation and consequent activation is controlled by two signaling branches, one cGMP- and the other Ca(2+)-dependent, of which many signaling components have yet to be identified. The STATc stress signalling pathway feeds back on itself by upregulating the expression of STATc and STATc-regulated genes. Based on microarray studies we chose two tyrosine-kinase like proteins, Pyk3 and Phg2, as possible modulators of STATc phosphorylation and generated single and double knock-out mutants to them. Transcriptional regulation of STATc and STATc dependent genes was disturbed in pyk3(-), phg2(-), and pyk3(-)/phg2(-) cells. The absence of Pyk3 and/or Phg2 resulted in diminished or completely abolished increased transcription of STATc dependent genes in response to sorbitol, 8-Br-cGMP and the Ca(2+) liberator BHQ. Also, phospho-STATc levels were significantly reduced in pyk3(-) and phg2(-) cells and even further decreased in pyk3(-)/phg2(-) cells. The reduced phosphorylation was mirrored by a significant delay in nuclear translocation of GFP-STATc. The protein tyrosine phosphatase 3 (PTP3), which dephosphorylates and inhibits STATc, is inhibited by stress-induced phosphorylation on S448 and S747. Use of phosphoserine specific antibodies showed that Phg2 but not Pyk3 is involved in the phosphorylation of PTP3 on S747. In pull-down assays Phg2 and PTP3 interact directly, suggesting that Phg2 phosphorylates PTP3 on S747 in vivo. Phosphorylation of S448 was unchanged in phg2(-) cells. We show that Phg2 and an, as yet unknown, S448 protein kinase are responsible for PTP3 phosphorylation and hence its inhibition, and that Pyk3 is involved in the regulation of STATc by either directly or indirectly activating it. Our results add further complexities to the regulation of STATc, which presumably ensure its optimal activation in response to different environmental cues

Predicting crystal growth via a unified kinetic three-dimensional partition model

Understanding and predicting crystal growth is fundamental to the control of functionality in modern materials. Despite investigations for more than one hundred years1, 2, 3, 4, 5, it is only recently that the molecular intricacies of these processes have been revealed by scanning probe microscopy6, 7, 8. To organize and understand this large amount of new information, new rules for crystal growth need to be developed and tested. However, because of the complexity and variety of different crystal systems, attempts to understand crystal growth in detail have so far relied on developing models that are usually applicable to only one system9, 10, 11. Such models cannot be used to achieve the wide scope of understanding that is required to create a unified model across crystal types and crystal structures. Here we describe a general approach to understanding and, in theory, predicting the growth of a wide range of crystal types, including the incorporation of defect structures, by simultaneous molecular-scale simulation of crystal habit and surface topology using a unified kinetic three-dimensional partition model. This entails dividing the structure into ‘natural tiles’ or Voronoi polyhedra that are metastable and, consequently, temporally persistent. As such, these units are then suitable for re-construction of the crystal via a Monte Carlo algorithm. We demonstrate our approach by predicting the crystal growth of a diverse set of crystal types, including zeolites, metal–organic frameworks, calcite, urea and L-cystine

<i>CrystalGrower</i>: a generic computer program for Monte Carlo modelling of crystal growth.

From Europe PMC via Jisc Publications RouterHistory: ppub 2020-11-01, epub 2020-11-18Publication status: PublishedA Monte Carlo crystal growth simulation tool, CrystalGrower, is described which is able to simultaneously model both the crystal habit and nanoscopic surface topography of any crystal structure under conditions of variable supersaturation or at equilibrium. This tool has been developed in order to permit the rapid simulation of crystal surface maps generated by scanning probe microscopies in combination with overall crystal habit. As the simulation is based upon a coarse graining at the nanoscopic level features such as crystal rounding at low supersaturation or undersaturation conditions are also faithfully reproduced. CrystalGrower permits the incorporation of screw dislocations with arbitrary Burgers vectors and also the investigation of internal point defects in crystals. The effect of growth modifiers can be addressed by selective poisoning of specific growth sites. The tool is designed for those interested in understanding and controlling the outcome of crystal growth through a deeper comprehension of the key controlling experimental parameters

Paleophysical Oceanography with an Emphasis on Transport Rates

Paleophysical oceanography is the study of the behavior of the fluid ocean of the past, with a specific emphasis on its climate implications, leading to a focus on the general circulation. Even if the circulation is not of primary concern, heavy reliance on deep-sea cores for past climate information means that knowledge of the oceanic state when the sediments were laid down is a necessity. Like the modern problem, paleoceanography depends heavily on observations, and central difficulties lie with the very limited data types and coverage that are, and perhaps ever will be, available. An approximate separation can be made into static descriptors of the circulation (e.g., its water-mass properties and volumes) and the more difficult problem of determining transport rates of mass and other properties. Determination of the circulation of the Last Glacial Maximum is used to outline some of the main challenges to progress. Apart from sampling issues, major difficulties lie with physical interpretation of the proxies, transferring core depths to an accurate timescale (the “age-model problem”), and understanding the accuracy of time-stepping oceanic or coupled-climate models when run unconstrained by observations. Despite the existence of many plausible explanatory scenarios, few features of the paleocirculation in any period are yet known with certainty.National Science Foundation (U.S.) (grant OCE-0645936

Gauge-ready formulation of the cosmological kinetic theory in generalized gravity theories

We present cosmological perturbations of kinetic components based on relativistic Boltzmann equations in the context of generalized gravity theories. Our general theory considers an arbitrary number of scalar fields generally coupled with the gravity, an arbitrary number of mutually interacting hydrodynamic fluids, and components described by the relativistic Boltzmann equations like massive/massless collisionless particles and the photon with the accompanying polarizations. We also include direct interactions among fluids and fields. The background FLRW model includes the general spatial curvature and the cosmological constant. We consider three different types of perturbations, and all the scalar-type perturbation equations are arranged in a gauge-ready form so that one can implement easily the convenient gauge conditions depending on the situation. In the numerical calculation of the Boltzmann equations we have implemented four different gauge conditions in a gauge-ready manner where two of them are new. By comparing solutions solved separately in different gauge conditions we can naturally check the numerical accuracy.Comment: 26 pages, 9 figures, revised thoroughly, to appear in Phys. Rev.