A Study on the Efficiency of the Market for Dutch Long Term Call Options

We investigate the efficiency of the market for 5 year call options which are traded on the European Options Exchange in Amsterdam.We study both delta, delta-vega, and delta-gamma neutral arbitrage portfolios.We do not detect any serious inefficiencies in the market for long term call options.This result is in line with previous studies on different kinds of call options and warrants. The results for the delta-vega and delta-gamma neutral arbitrage strategies differ from the results of the simple delta-neutral strategies in two ways: they lead to positive results more often, but the variance of these results is also larger.Options;futures markets;The Netherlands

BOTTOM-UP ONTOLOGY CREATION WITH A DIRECT INSTANCE INPUT INTERFACE

In general an ontology is created by following a top-down, or so called genus-species approach, where the species are differentiated from the genus and from each other by means of differentiae [8]. The superconcept is the genus, every subconcept is a species, and the differentiae correspond to roles. To complete it a user organizes data into a proper structure, accompanied with the instances in that domain in order to complete the construction of an ontology. It is a concept learning procedure in a school, for example. Students first learn the general knowledge and apply it to their exercise and homework for practice. After they are more familiar with the knowledge, they can use what they have learned to solve the problems in their daily life. The deductive learning approach is based on the fundamental knowledge that a student has acquired already. By contrast, a more intuitive way of learning is the bottom-up approach, which is based on atomism. That is also a frequently used way for humans to acquire knowledge. From sensing the world by vision, hearing, and touching, people learn information about actual objects, i.e., instances, in the world. After an instance has been collected, a relationship between it and existing knowledge will be created and an ontology will be formed automatically. The primary goal of this thesis is to make a better instance input interface for the ontology development tool Protégé to simplify the procedure of ontology construction. The second goal is to show the feasibility of a bottom-up approach for the building of an ontology. Without setting up the organization of classes and properties (slots) first, a user simply inputs all the information from an instance and the program will form an ontology automatically. It means after an instance has been entered, the system will find a proper location inside of the ontology to store it

Shock Diffraction by Convex Cornered Wedges for the Nonlinear Wave System

We are concerned with rigorous mathematical analysis of shock diffraction by two-dimensional convex cornered wedges in compressible fluid flow governed by the nonlinear wave system. This shock diffraction problem can be formulated as a boundary value problem for second-order nonlinear partial differential equations of mixed elliptic-hyperbolic type in an unbounded domain. It can be further reformulated as a free boundary problem for nonlinear degenerate elliptic equations of second order. We establish a first global theory of existence and regularity for this shock diffraction problem. In particular, we establish that the optimal regularity for the solution is $C^{0,1}$ across the degenerate sonic boundary. To achieve this, we develop several mathematical ideas and techniques, which are also useful for other related problems involving similar analytical difficulties.Comment: 50 pages;7 figure

Revisiting the Bs(∗)B^{(*)}_s-Meson Production at the Hadronic Colliders

The production of heavy-flavored hadron at the hadronic colliders provides a challenging opportunity to test the validity of pQCD predictions. There are two mechanisms for the $B^{(*)}_s$ hadroproduction, i.e. the gluon-gluon fusion mechanism via the subprocess $g+g\rightarrow B^{(*)}_s+b+\bar{s}$ and the extrinsic heavy quark mechanism via the subprocesses $g+\bar{b}\to B^{(*)}_s +\bar{s}$ and $g+s\to B^{(*)}_s +b$, both of which shall have sizable contributions in proper kinematic region. Different from the fixed-flavor-number scheme (FFNS) previously adopted in the literature, we study the $B^{(*)}_s$ hadroproduction under the general-mass variable-flavor-number scheme (GM-VFNS), in which we can consistently deal with the double counting problem from the above two mechanisms. Properties for the $B^{(*)}_s$ hadroproduction are discussed. To be useful reference, a comparative study of FFNS and GM-VFNS is presented. Both of which can provide reasonable estimations for the $B^{(*)}_s$ hadroproduction. At the Tevatron, the difference between these two schemes is small, however such difference is obvious at the LHC. The forthcoming more precise data on LHC shall provide a good chance to check which scheme is more appropriate to deal with the $B^{(*)}_s$-meson production and to further study the heavy quark components in hadrons.Comment: 18 pages, 8 figures, 4 tables. To match the published version. To be published in Eur.Phys.J.

Probabilistic instantaneous quantum computation

The principle of teleportation can be used to perform a quantum computation even before its quantum input is defined. The basic idea is to perform the quantum computation at some earlier time with qubits which are part of an entangled state. At a later time a generalized Bell state measurement is performed jointly on the then defined actual input qubits and the rest of the entangled state. This projects the output state onto the correct one with a certain exponentially small probability. The sufficient conditions are found under which the scheme is of benefit.Comment: 4 pages, 1 figur

Disentanglement and Inseparability correlation : in two-qubit system

Started from local universal isotropic disentanglement, a threshold inequality on reduction factors is proposed, which is necessary and sufficient for this type of disentanglement processes. Furthermore, we give the conditions realizing ideal disentanglement processes provided that some information on quantum states is known. In addition, based on fully entangled fraction, a concept called inseparability correlation is presented. Some properties on inseparability correlation coefficient are studied.Comment: 10 Pages, 2 Figures, REVTeX; to appear in PR

Paclitaxel-octreotide conjugates inhibit growth of human non-small cell lung cancer cells in vitro

Aim: To evaluate the effects of paclitaxel-octreotide conjugates on the growth of cultured non-small cell lung cancer cells. Methods: RT-PCR was performed to detect mRNA for the subtypes of the human somatostatin receptor (SSTR) using specific primers. MTT-based cytotoxicity assay was used to evaluate the cell viability after treatment with paclitaxel and the conjugates. Cell cycle perturbations were determined using a Fluorescence-Activated Cell Sorter. Results: Non-small cell lung cancer A549 and Calu-6 cells expressed mRNA for SSTR2 and SSTR5. Paclitaxel and the conjugates effectively inhibited the growth of A549 and Calu-6 cells in a concentration- and time-dependent manner. In SSTR-negative fibroblasts, the conjugates were less cytotoxic than paclitaxel. The conjugates and paclitaxel could induce the increase of G2/M phase ratio in A549 cells. Conclusion: The paclitaxel-octreotide conjugates can be used as selective-targeted chemotherapeutic agents for treating non-small cell lung cancer.Цель: оценить эффект конъюгатов паклитаксела-октреотида на рост культивированных клеток немелкоклеточного рака легкого человека. Методы: для определения мРНК подтипов рецептора соматостатина человека (SSTR) применяли ОT-ПЦР. Анализ цитотоксичности в МТТ-тесте применяли для оценки выживаемости клеток после их инкубации с паклитакселом и конъюгатами. Нарушения клеточного цикла определяли с применением FACS — клеточного сортера. Результаты: установлено, что клеточные линии немелкоклеточного рака легкого A549 и Calu-6 экспрессируют SSTR2 и SSTR5 мРНК. Отмечено эффективное дозо- и времязависимое угнетение роста клеток A549 и Calu-6 паклитакселом и конъюгатами. Для SSTR-негативных фибробластов конъюгаты менее цитотоксичны, чем паклитаксел. Конъюгаты и паклитаксел могут индуцировать повышение соотношения фаз G2 /M в клетках A549. Выводы: конъюгаты паклитаксел-октреотида могут быть использованы как селективные химиотерапевтические агенты для воздействия на немелкоклеточный рак легкого

Accounting for Slow J/psi from B Decay

A slow J/psi excess exists in the inclusive B -> J/psi+X spectrum, and is indicative of some hadronic effect. From color octet nature of c cbar pair in b-> c cbar s decay, one such possibility would be B -> J/psi+ K_g decay, where K_g is a hybrid resonance with sbar g q constituents. We show that a K_g resonance of ~ 2 GeV mass and suitably broad width could be behind the excess.Comment: 4 pages, 2 figures. To appear in Phys. Rev.