327 research outputs found
Exponential Decay of Correlations for Strongly Coupled Toom Probabilistic Cellular Automata
We investigate the low-noise regime of a large class of probabilistic
cellular automata, including the North-East-Center model of Toom. They are
defined as stochastic perturbations of cellular automata belonging to the
category of monotonic binary tessellations and possessing a property of
erosion. We prove, for a set of initial conditions, exponential convergence of
the induced processes toward an extremal invariant measure with a highly
predominant spin value. We also show that this invariant measure presents
exponential decay of correlations in space and in time and is therefore
strongly mixing.Comment: 21 pages, 0 figure, revised version including a generalization to a
larger class of models, structure of the arguments unchanged, minor changes
suggested by reviewers, added reference
Will Swing Pricing Save Sedentary Shareholders?
This Article explains and explores new Securities Exchange Commission rules authorizing optional swing pricing for mutual funds. Swing pricing is an anti-dilution tool intended to protect sedentary investors who enter, and stay, in a fund. Workers setting aside money for retirement are often sedentary investors. Mutual funds are the mainstay vehicle for retirement investors, yet as sedentary shareholders they can experience significant asset dilution over their savings lifetime. Swing pricing—a mutual fund pricing mechanism that allocates transaction costs to the triggering shareholders—could save sedentary shareholders, collectively, billions of dollars.
The mutual fund industry’s operational complexities and competing regulatory obligations may prevent funds from immediately utilizing swing pricing once it becomes effective in November 2018. The biggest obstacle is a time conflict reminiscent of the chicken and egg problem. Under current industry operations, mutual funds will not receive the trading information necessary to adjust the daily price of the fund (swing the price) until after funds have to finalize the price adjustment. Blockchain technology—offering secure, automated, and verified ledgers—may present an operational path forward for the industry.
The SEC’s swing pricing approach leaves unanswered how funds will overcome these, and other, hurdles. This Article explores the components of swing pricing, as well as the objections to and perceived benefits of swing pricing, and concludes with two unique perspectives on the SEC rules: one academic and one professional. This Article maintains that mutual funds should take on the challenge of implementing swing pricing, and that market incentives will pave the way
Harness processes and harmonic crystals
In the Hammersley harness processes the real-valued height at each site i in
Z^d is updated at rate 1 to an average of the neighboring heights plus a
centered random variable (the noise). We construct the process "a la Harris"
simultaneously for all times and boxes contained in Z^d. With this
representation we compute covariances and show L^2 and almost sure time and
space convergence of the process. In particular, the process started from the
flat configuration and viewed from the height at the origin converges to an
invariant measure. In dimension three and higher, the process itself converges
to an invariant measure in L^2 at speed t^{1-d/2} (this extends the convergence
established by Hsiao). When the noise is Gaussian the limiting measures are
Gaussian fields (harmonic crystals) and are also reversible for the process.Comment: 21 pages. Revised version with minor changes. Version almost
identical to the one to be published in SP
Stochastic theory of non-equilibrium wetting
We study a Langevin equation describing non-equilibrium depinning and wetting
transitions. Attention is focused on short-ranged attractive
substrate-interface potentials. We confirm the existence of first order
depinning transitions, in the temperature-chemical potential diagram, and a
tricritical point beyond which the transition becomes a non-equilibrium
complete wetting transition. The coexistence of pinned and depinned interfaces
occurs over a finite area, in line with other non-equilibrium systems that
exhibit first order transitions. In addition, we find two types of phase
coexistence, one of which is characterized by spatio-temporal intermittency
(STI). A finite size analysis of the depinning time is used to characterize the
different coexisting regimes. Finally, a stationary distribution of
characteristic triangles or facets was shown to be responsible for the
structure of the STI phase.Comment: To appear in Europhys. Lett. // 3 figure
Influence of transport and ocean ice extent on biogenic aerosol sulfur in the Arctic atmosphere
The recent decline in sea ice cover in the Arctic Ocean could affect the regional radiative forcing via changes in sea ice-atmosphere exchange of dimethyl sulfide (DMS) and biogenic aerosols formed from its atmospheric oxidation, such as methanesulfonic acid (MSA). This study examines relationships between changes in total sea ice extent north of 70 degrees N and atmospheric MSA measurement at Alert, Nunavut, during 1980-2009; at Barrow, Alaska, during 1997-2008; and at Ny-Alesund, Svalbard, for 1991-2004. During the 1980-1989 and 1990-1997 periods, summer (July-August) and June MSA concentrations at Alert decreased. In general, MSA concentrations increased at all locations since 2000 with respect to 1990 values, specifically during June and summer at Alert and in summer at Barrow and Ny-Alesund. Our results show variability in MSA at all sites is related to changes in the source strengths of DMS, possibly linked to changes in sea ice extent as well as to changes in atmospheric transport patterns. Since 2000, a late spring increase in atmospheric MSA at the three sites coincides with the northward migration of the marginal ice edge zone where high DMS emissions from ocean to atmosphere have previously been reported. Significant negative correlations are found between sea ice extent and MSA concentrations at the three sites during the spring and June. These results suggest that a decrease in seasonal ice cover influencing other mechanisms of DMS production could lead to higher atmospheric MSA concentrations
The effect of organic compounds on the growth rate of cloud droplets in marine and forest settings
International audienceOrganic matter represents an important fraction of the fine particle aerosol, yet our knowledge of the roles of organics in the activation of aerosol particles into cloud droplets is poor. A cloud condensation nucleus (CCN) counter is used to examine the relative growth rates of cloud droplets for case studies from field measurements on the North Pacific Ocean and in a coniferous forest. A model of the condensational growth of water droplets, on particles dissolving according to their solubility in water, is used to simulate the initial scattering of the droplets as they grow in the CCN counter. Simulations of the growth rates of fine particles sampled in the marine boundary layer of the North Pacific Ocean indicate that the main influence of the marine organic material on the water uptake rate is from its effect on the size distribution of the sulphate. Simulations of the observations of water uptake on biogenic organic aerosol particles sampled in a coniferous forest indicate an impact of the organic on the water uptake rates, but one that is still smaller than that of pure sulphate. The solubility of the organic becomes an important factor in determining the water uptake as the organic mass increases relative to sulphate. The values of the organic component of the hygroscopicity parameter ? that describes the CCN activity were found to be negligible for the marine particles and 0.02?0.05 for the forest particles
Generic two-phase coexistence in nonequilibrium systems
Gibbs' phase rule states that two-phase coexistence of a single-component
system, characterized by an n-dimensional parameter-space, may occur in an
n-1-dimensional region. For example, the two equilibrium phases of the Ising
model coexist on a line in the temperature-magnetic-field phase diagram.
Nonequilibrium systems may violate this rule and several models, where phase
coexistence occurs over a finite (n-dimensional) region of the parameter space,
have been reported. The first example of this behaviour was found in Toom's
model [Toom,Geoff,GG], that exhibits generic bistability, i.e. two-phase
coexistence over a finite region of its two-dimensional parameter space (see
Section 1). In addition to its interest as a genuine nonequilibrium property,
generic multistability, defined as a generalization of bistability, is both of
practical and theoretical relevance. In particular, it has been used recently
to argue that some complex structures appearing in nature could be truly stable
rather than metastable (with important applications in theoretical biology),
and as the theoretical basis for an error-correction method in computer science
(see [GG,Gacs] for an illuminating and pedagogical discussion of these ideas).Comment: 7 pages, 6 figures, to appear in Eur. Phys. J. B, svjour.cls and
svepj.clo neede
Influence of temperature and relative humidity on the survival of <i>Chlamydia pneumoniae</i> in aerosols
The survival of Chlamydia pneumoniae in aerosols was investigated by using a chamber with a capacity of 114.5 liters. We injected 5 x 107 inclusion- forming units (IFU) of C. pneumoniae in aerosols with a droplet size of 3 to 5 μm. Samples were taken after 30 s and every 1 min thereafter. The survival of C. pneumoniae was measured at four temperatures (8.5, 15, 25, and 35°C) and at three different relative humidities (RH) of 5, 50, and 95% for each temperature. The survival rates of Streptococcus pneumoniae, Streptococcus faecalis, Klebsiella pneumoniae, Chlamydia trachomatis LGV2, and cytomegalovirus were also determined at 25°C and 95% RH and compared with that of C. pneumoniae. At the mentioned temperatures and RH, a rapid decrease of C. pneumoniae IFU was observed in the first 30 s. After this the decrease in the number of IFU was more gradual. The survival of C. pneumoniae in aerosols was optimal at 15 to 25°C and 95% RH; it was good compared with those of other microorganisms. A lower death rate was observed only in S. faecalis. In C. trachomatis, the death rate during the first 30 s was higher than that in C. pneumoniae (85 and 53.3%, respectively). After the first 30 s, the death rates in the two organisms were identical. It was concluded that transmission of C. pneumoniae via aerosols was possible. There is probably a direct transmission from person to person, taking into account the relatively short survival period of C. pneumoniae in aerosols.</p
Influence of temperature and relative humidity on the survival of <i>Chlamydia pneumoniae</i> in aerosols
The survival of Chlamydia pneumoniae in aerosols was investigated by using a chamber with a capacity of 114.5 liters. We injected 5 x 107 inclusion- forming units (IFU) of C. pneumoniae in aerosols with a droplet size of 3 to 5 μm. Samples were taken after 30 s and every 1 min thereafter. The survival of C. pneumoniae was measured at four temperatures (8.5, 15, 25, and 35°C) and at three different relative humidities (RH) of 5, 50, and 95% for each temperature. The survival rates of Streptococcus pneumoniae, Streptococcus faecalis, Klebsiella pneumoniae, Chlamydia trachomatis LGV2, and cytomegalovirus were also determined at 25°C and 95% RH and compared with that of C. pneumoniae. At the mentioned temperatures and RH, a rapid decrease of C. pneumoniae IFU was observed in the first 30 s. After this the decrease in the number of IFU was more gradual. The survival of C. pneumoniae in aerosols was optimal at 15 to 25°C and 95% RH; it was good compared with those of other microorganisms. A lower death rate was observed only in S. faecalis. In C. trachomatis, the death rate during the first 30 s was higher than that in C. pneumoniae (85 and 53.3%, respectively). After the first 30 s, the death rates in the two organisms were identical. It was concluded that transmission of C. pneumoniae via aerosols was possible. There is probably a direct transmission from person to person, taking into account the relatively short survival period of C. pneumoniae in aerosols.</p
Multicomponent dynamical systems: SRB measures and phase transitions
We discuss a notion of phase transitions in multicomponent systems and
clarify relations between deterministic chaotic and stochastic models of this
type of systems. Connections between various definitions of SRB measures are
considered as well.Comment: 13 pages, LaTeX 2
- …