1,276 research outputs found
Random Walks and Market Efficiency: Evidence from International Real Estate Markets
This study performs tests of the random walk hypothesis for international commercial real estate markets utilizing stock market indices of real estate share prices for three geographical regions: Europe, Asia and North America. The augmented Dickey-Fuller and Phillips-Perron unit root tests and Cochrane variance ratio test find that each of these markets (as well as associated broader stock markets) exhibits random walk behavior. Moreover, a non-parametric runs test provides support for weak-form market efficiency in the real estate markets. In addition, Johansen-Juselius co-integration analysis reveals that all three markets appear co-integrated and share a common long-run stochastic trend. Results of co-integration analyses and vector error correction models suggest that diversification benefits through international real estate securities can only be achieved in the short run.
The cone of pseudo-effective divisors of log varieties after Batyrev
In these notes we investigate the cone of nef curves of projective varieties,
which is the dual cone to the cone of pseudo-effective divisors. We prove a
structure theorem for the cone of nef curves of projective -factorial klt pairs of arbitrary dimension from the point of view of the
Minimal Model Program. This is a generalization of Batyrev's structure theorem
for the cone of nef curves of projective terminal threefolds.Comment: 15 pages. v2: Completely rewritten paper. Structure theorem for the
cone of nef curves proved in arbitrary dimension using results of Birkar,
Cascini, Hacon and McKernan. To appear in Mathematische Zeitschrif
Theory of Neutron Diffraction from the Vortex Lattice in UPt3
Neutron scattering experiments have recently been performed in the
superconducting state of UPt3 to determine the structure of the vortex lattice.
The data show anomalous field dependence of the aspect ratio of the unit cell
in the B phase. There is apparently also a change in the effective coherence
length on the transition from the B to the C phases. Such observations are not
consistent with conventional superconductvity. A theory of these results is
constructed based on a picture of two-component superconductivity for UPt3. In
this way, these unusual observations can be understood. There is a possible
discrepancy between theory and experiment in the detailed field dependence of
the aspect ratio.Comment: 11 pages; uses REVTEX, APS and PRABIB styles; 2 Postscript figure
files include
Strong Lefschetz elements of the coinvariant rings of finite Coxeter groups
For the coinvariant rings of finite Coxeter groups of types other than H,
we show that a homogeneous element of degree one is a strong Lefschetz element
if and only if it is not fixed by any reflections. We also give the necessary
and sufficient condition for strong Lefschetz elements in the invariant
subrings of the coinvariant rings of Weyl groups.Comment: 18 page
Lucky or clever? From expectations to responsibility judgments
How do people hold others responsible for the consequences of their actions? We propose a computational model that attributes responsibility as a function of what the observed action reveals about the person, and the causal role that the person's action played in bringing about the outcome. The model first infers what type of person someone is from having observed their action. It then compares a prior expectation of how a person would behave with a posterior expectation after having observed the person's action. The model predicts that a person is blamed for negative outcomes to the extent that the posterior expectation is lower than the prior, and credited for positive outcomes if the posterior is greater than the prior. We model the causal role of a person's action by using a counterfactual model that considers how close the action was to having been pivotal for the outcome. The model captures participants' responsibility judgments to a high degree of quantitative accuracy across three experiments that cover a range of different situations. It also solves an existing puzzle in the literature on the relationship between action expectations and responsibility judgments. Whether an unexpected action yields more or less credit depends on whether the action was diagnostic for good or bad future performance
Stress balance in nano-patterned N/Cu(001) surfaces
We employ helium atom scattering (HAS) and density functional theory (DFT)
based on the ultrasoft pseudopotential scheme and the plane-wave basis set to
investigate the strain and stress balance in nano-patterned N/Cu(001) surfaces.
HAS shows that, with increasing N coverage (and decreasing stripe widths), the
stress-relief-driven lateral expansion of the averaged lattice parameter within
finite-sized N-containing patches reduces from 3.5% to 1.8% and that, beyond a
critical exposure, the lateral expansion of the patches increases again
slightly, to 2.4%. The latter implies that in this higher coverage range the
compressive stress is partially relieved via another mechanism, which turns out
to be nucleation of Cu-vacancy trenches. In full agreement with the above and
previous experimental observations, DFT calculations show that an optimized
N-induced c(2\times2) structure has a net surface stress level of 4.2 N/m and
such stress is effectively relieved when stripes of clean Cu(001) form along
the direction or when trench-like steps of Cu atoms form along the
direction. Additionally, the calculations demonstrate that (contrary to earlier
suggestions) rumpling displacements within the outermost Cu layer do not act to
relieve the compressive surface stress levels and that, while clock-like
displacements could relieve stress levels, such displacements are energetically
unstable
Mechanism of thermally activated c-axis dissipation in layered High-T superconductors at high fields
We propose a simple model which explains experimental behavior of -axis
resistivity in layered High-T superconductors at high fields in a limited
temperature range. It is generally accepted that the in-plane dissipation at
low temperatures is caused by small concentration of mobile pancake vortices
whose diffusive motion is thermally activated. We demonstrate that in such
situation a finite conductivity appears also in -direction due to the phase
slips between the planes caused by the mobile pancakes. The model gives
universal relation between the components of conductivity which is in good
agreement with experimental data.Comment: RevTeX, 4 pages, 2 Postscript figure
Integral Grothendieck-Riemann-Roch theorem
We show that, in characteristic zero, the obvious integral version of the
Grothendieck-Riemann-Roch formula obtained by clearing the denominators of the
Todd and Chern characters is true (without having to divide the Chow groups by
their torsion subgroups). The proof introduces an alternative to Grothendieck's
strategy: we use resolution of singularities and the weak factorization theorem
for birational maps.Comment: 24 page
The Canonical Model of a Singular Curve
We give refined statements and modern proofs of Rosenlicht's results about
the canonical model C' of an arbitrary complete integral curve C. Notably, we
prove that C and C' are birationally equivalent if and only if C is
nonhyperelliptic, and that, if C is nonhyperelliptic, then C' is equal to the
blowup of C with respect to the canonical sheaf \omega. We also prove some new
results: we determine just when C' is rational normal, arithmetically normal,
projectively normal, and linearly normal.Comment: 28 pages, no figures, IV Congresso Iberoamericano de Geometria
Complex
Moduli of mathematical instanton vector bundles with odd c_2 on projective space
The problem of irreducibility of the moduli space I_n of rank-2 mathematical
instanton vector bundles with arbitrary positive second Chern class n on the
projective 3-space is considered. The irreducibility of I_n was known for small
values of n: Barth 1977 (n=1), Hartshorne 1978 (n=2), Ellingsrud and Stromme
1981 (n=3), Barth 1981 (n=4), Coanda, Tikhomirov and Trautmann 2003 (n=5). In
this paper we prove the irreducibility of I_n for an arbitrary odd n.Comment: 62 page
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