Real options, patents, productivity and market value: evidence from a panel of UK firms

Patents citations are a potentially powerful indicator of technological innovation. In this paper we describe the IFS-Leverhulme patents dataset that we have constructed by combining information from the US Case-Western Patent database with UK company accounts and share price information from the London Stock Exchange. Patents citations like patentc ounts, arehighly skewed and have a modal lag of four years. Analysing data on over 200 major British firms since 1968, we show that patents have an economically and statistically significant impacton firm-level productivity and market value. Patent citations contain more information than simple counts. A doubling in the stock of citation-weighted patents is associated with a four percent increase in (total factor) productivity and an eight percent increase in market value. As expected patenting and citation information feeds into market values immediately but appears to have some additional lagged effects of productivity suggesting gradual takeup of new technologies

Separating spin and charge transport in single wall carbon nanotubes

We demonstrate spin injection and detection in single wall carbon nanotubes using a 4-terminal, non-local geometry. This measurement geometry completely separates the charge and spin circuits. Hence all spurious magnetoresistance effects are eliminated and the measured signal is due to spin accumulation only. Combining our results with a theoretical model, we deduce a spin polarization at the contacts of approximately 25 %. We show that the magnetoresistance changes measured in the conventional two-terminal geometry are dominated by effects not related to spin accumulation.Comment: Number of pages: 11 Number of figures:

The Magneto-coulomb effect in spin valve devices

We discuss the influence of the magneto-coulomb effect (MCE) on the magnetoconductance of spin valve devices. We show that MCE can induce magnetoconductances of several per cents or more, dependent on the strength of the coulomb blockade. Furthermore, the MCE-induced magnetoconductance changes sign as a function of gate voltage. We emphasize the importance of separating conductance changes induced by MCE from those due to spin accumulation in spin valve devices.Comment: This paper includes 3 figure

Reconciliation of a Quantum-Distributed Gaussian Key

Two parties, Alice and Bob, wish to distill a binary secret key out of a list of correlated variables that they share after running a quantum key distribution protocol based on continuous-spectrum quantum carriers. We present a novel construction that allows the legitimate parties to get equal bit strings out of correlated variables by using a classical channel, with as few leaked information as possible. This opens the way to securely correcting non-binary key elements. In particular, the construction is refined to the case of Gaussian variables as it applies directly to recent continuous-variable protocols for quantum key distribution.Comment: 8 pages, 4 figures. Submitted to the IEEE for possible publication. Revised version to improve its clarit

Object oriented design of a thermo-mechanical FEM code

An object oriented design is presented for a computer program that can perform\ud thermo-mechanically coupled analyzes. The target of the design is a \ud exible and robust\ud computer program. It should be easy to adapt and extend, re-using existing code, without\ud interfering with already established algorithms.\ud The program uses publicly available toolkits that are currently emerging as C++ pack-\ud ages. First of all the Standard C++ Library (formerly Standard Template Library) is\ud used for packing items in container classes. Secondly the matrix and vector operations\ud are derived from the Template Numerical Toolkit (TNT) and �nally (not essentially for\ud the numerical part) a graphical user interface is made, based on the wxWindows package,\ud that can generate a GUI for Motif and MS-Windows with the same code.\ud Attention is given to the design of classes such as speci�c elements and material classes\ud based on more general classes. A hierarchy of classes is constructed where general behavior\ud is put high in the hierarchy and speci�c behavior low. The choice between inheritance and\ud aggregation is made at several levels

Exponents and bounds for uniform spanning trees in d dimensions

Uniform spanning trees are a statistical model obtained by taking the set of all spanning trees on a given graph (such as a portion of a cubic lattice in d dimensions), with equal probability for each distinct tree. Some properties of such trees can be obtained in terms of the Laplacian matrix on the graph, by using Grassmann integrals. We use this to obtain exact exponents that bound those for the power-law decay of the probability that k distinct branches of the tree pass close to each of two distinct points, as the size of the lattice tends to infinity.Comment: 5 pages. v2: references added. v3: closed form results can be extended slightly (thanks to C. Tanguy). v4: revisions, and a figure adde

Seagull and pion-in-flight currents in neutrino-induced 1N1N and 2N2N knockout

[Background] The neutrino-nucleus ($\nu A$) cross section is a major source of systematic uncertainty in neutrino-oscillation studies. A precise $\nu A$ scattering model, in which multinucleon effects are incorporated, is pivotal for an accurate interpretation of the data. [Purpose] In $\nu A$ interactions, meson-exchange currents (MECs) can induce two-nucleon ($2N$) knockout from the target nucleus, resulting in a two-particle two-hole (2p2h) final state. They also affect single nucleon ($1N$) knockout reactions, yielding a one-particle one-hole (1p1h) final state. Both channels affect the inclusive strength. We present a study of axial and vector, seagull and pion-in-flight currents in muon-neutrino induced $1N$ and $2N$ knockout reactions on $^{12}$C. [Method] Bound and emitted nucleons are described as Hartree-Fock wave functions. For the vector MECs, the standard expressions are used. For the axial current, three parameterizations are considered. The framework developed here allows for a treatment of MECs and short-range correlations (SRCs). [Results] Results are compared with electron-scattering data and with literature. The strengths of the seagull, pion-in-flight and axial currents are studied separately and double differential cross sections including MECs are compared with results including SRCs. A comparison with MiniBooNE and T2K data is presented. [Conclusions] In the 1p1h channel, the effects of the MECs tend to cancel each other, resulting in a small effect on the double differential cross section. $2N$ knockout processes provide a small contribution to the inclusive double differential cross section, ranging from the $2N$ knockout threshold into the dip region. A fair agreement with the MiniBooNE and T2K data is reached.Comment: 16 pages, 10 figure

Multichannel calculation of excited vector ϕ\phi resonances and the ϕ(2170)\phi(2170)

A multichannel calculation of excited $J^{PC}=1^{--}$ $\phi$ states is carried out within a generalization of the Resonance-Spectrum Expansion, which may shed light on the classification of the $\phi(2170)$ resonance, discovered by BABAR and originally denoted X(2175). In this framework, a complete spectrum of bare $s\bar{s}$ states is coupled to those OZI-allowed decay channels that should be most relevant for the considered energy range. The included $S$- and $P$-wave two-meson channels comprise the lowest pseudoscalar, vector, scalar, and axial-vector mesons, while in the $q\bar{q}$ sector both the $^{3}S_1$ and $^{3}D_1$ states are coupled. The only two free parameters are tuned so as to reproduce mass and width of the $\phi(1020)$, but come out reasonably close to previously used values. Among the model's $T$-matrix poles, there are good candidates for observed resonances, as well other ones that should exist according to the quark model. Besides the expected resonances as unitarized confinement states, a dynamical resonance pole is found at $(2186-i246)$ MeV. The huge width makes its interpretation as the $\phi(2170)$ somewhat dubious, but further improvements of the model may change this conclusion.Comment: 6 pages, 5 figures, RevTex4; v2: very recent experimental result, some extra discussion, and 2 references added; v3: 3 new figures, 2 new equations, and some rephrasing; version accepted for publication in Phys. Rev.

Yang-Yang thermodynamics on an atom chip

We investigate the behavior of a weakly interacting nearly one-dimensional (1D) trapped Bose gas at finite temperature. We perform in situ measurements of spatial density profiles and show that they are very well described by a model based on exact solutions obtained using the Yang-Yang thermodynamic formalism, in a regime where other, approximate theoretical approaches fail. We use Bose-gas focusing [Shvarchuck etal., Phys. Rev. Lett. 89, 270404 (2002)] to probe the axial momentum distribution of the gas, and find good agreement with the in situ results.Comment: extended introduction and conclusions, and minor changes throughout; accepted for publication in Phys. Rev. Let

Solutions of the compatibility conditions for a Wigner quantum oscillator

We consider the compatibility conditions for a N-particle D-dimensional Wigner quantum oscillator. These conditions can be rewritten as certain triple relations involving anticommutators, so it is natural to look for solutions in terms of Lie superalgebras. In the recent classification of ``generalized quantum statistics'' for the basic classical Lie superalgebras [math-ph/0504013], each such statistics is characterized by a set of creation and annihilation operators plus a set of triple relations. In the present letter, we investigate which cases of this classification also lead to solutions of the compatibility conditions. Our analysis yields some known solutions and several classes of new solutions.Comment: 9 page