Criticality and finite size effects in a simple realistic model of stock market

We discuss a simple model based on the Minority Game which reproduces the main stylized facts of anomalous fluctuations in finance. We present the analytic solution of the model in the thermodynamic limit and show that stylized facts arise only close to a line of critical points with non-trivial properties. By a simple argument, we show that, in Minority Games, the emergence of critical fluctuations close to the phase transition is governed by the interplay between the signal to noise ratio and the system size. These results provide a clear and consistent picture of financial markets as critical systems.Comment: 4 pages, 4 figure

Detecting the traders' strategies in Minority-Majority games and real stock-prices

Price dynamics is analyzed in terms of a model which includes the possibility of effective forces due to trend followers or trend adverse strategies. The method is tested on the data of a minority-majority model and indeed it is capable of reconstructing the prevailing traders' strategies in a given time interval. Then we also analyze real (NYSE) stock-prices dynamics and it is possible to derive an indication for the the ``sentiment'' of the market for time intervals of at least one day.Comment: 13 pages, 10 figure

Development of a open-vessel single-stage respirometer.

This paper describes the development and accuracy analysis of a single-stage respirometer which can be used both in the laboratory for wastewater characterization and in the plant as a process instrument. It is based on an accurate model of parasitic aeration, making the two-stage assumption unnecessary. Its operation is supervised by a real-time software, written in Lab View, managing the various measurement procedures and estimating the wastewater characteristics. Its accuracy is assessed through sensitivity and error propagation analysis, proving superior to the conventional model. A laboratory implementation of the instrument was tested with readily degradable substrate, yielding consistent and accurate respirograms

High-efficiency WSi superconducting nanowire single-photon detectors for quantum state engineering in the near infrared

We report on high-efficiency superconducting nanowire single-photon detectors based on amorphous WSi and optimized at 1064 nm. At an operating temperature of 1.8 K, we demonstrated a 93% system detection efficiency at this wavelength with a dark noise of a few counts per second. Combined with cavity-enhanced spontaneous parametric down-conversion, this fiber-coupled detector enabled us to generate narrowband single photons with a heralding efficiency greater than 90% and a high spectral brightness of $0.6\times10^4$ photons/(s$\cdot$mW$\cdot$MHz). Beyond single-photon generation at large rate, such high-efficiency detectors open the path to efficient multiple-photon heralding and complex quantum state engineering

Single photonics at telecom wavelengths using nanowire superconducting detectors

Single photonic applications - such as quantum key distribution - rely on the transmission of single photons, and require the ultimate sensitivity that an optical detector can achieve. Single-photon detectors must convert the energy of an optical pulse containing a single photon into a measurable electrical signal. We report on fiber-coupled superconducting single-photon detectors (SSPDs) with specifications that exceed those of avalanche photodiodes (APDs), operating at telecommunication wavelength, in sensitivity, temporal resolution and repetition frequency. The improved performance is demonstrated by measuring the intensity correlation function g(2)(t) of single-photon states at 1300nm produced by single semiconductor quantum dots (QDs).Comment: 7 pages, 5 figures - submitted 12 OCT 200

New Antenna Deployment, Pointing and Supporting Mechanism

On ITALSAT Flight 2, the Italian telecommunications satellite, the two L-Ka antennas (Tx and Rx) use two large deployable reflectors (2000-mm diameter), whose deployment and fine pointing functions are accomplished by means of an innovative mechanism concept. The Antenna Deployment & Pointing Mechanism and Supporting Structure (ADPMSS) is based on a new configuration solution, where the reflector and mechanisms are conceived as an integrated, self-contained assembly. This approach is different from the traditional configuration solution. Typically, a rigid arm is used to deploy and then support the reflector in the operating position, and an Antenna Pointing Mechanism (APM) is normally interposed between the reflector and the arm for steering operation. The main characteristics of the ADPMSS are: combined implementation of deployment, pointing, and reflector support; optimum integration of active components and interface matching with the satellite platform; structural link distribution to avoid hyperstatic connections; very light weight and; high performance in terms of deployment torque margin and pointing range/accuracy. After having successfully been subjected to all component-level qualification and system-level acceptance tests, two flight ADPMSS mechanisms (one for each antenna) are now integrated on ITALSAT F2 and are ready for launch. This paper deals with the design concept, development, and testing program performed to qualify the ADPMSS mechanism