455 research outputs found
Prudent Intesting? The Credit Crisis of August 2007 Mainsail II Siv-Lite, and the State Cash Investment Pool
This paper reviews the period leading up to and including the credit disruption of August 2007 and then examines one failed structured finance issue and one investor in that issue. The investor was a financially conservative U.S. state treasury and the issue, Mainsail II, a little-known esoteric structure known as a SIV-Lite. The pairing of these two entities is part of the story of the financial crisis and tells us much about the excesses of the markets at that time and the lack of investment discipline. The paper explains the structure of a SIVLite as well as a collateralized debt obligation (CDO), a structured investment vehicle (SIV), and an asset-backed commercial paper conduit. It explores the role of the broker and rating agencies in the investment decision.financial crisis, SIV-Lite, asset-backed commercial paper, investment decision, cash investment pool
The Effects of Stress Tensor Fluctuations upon Focusing
We treat the gravitational effects of quantum stress tensor fluctuations. An
operational approach is adopted in which these fluctuations produce
fluctuations in the focusing of a bundle of geodesics. This can be calculated
explicitly using the Raychaudhuri equation as a Langevin equation. The physical
manifestation of these fluctuations are angular blurring and luminosity
fluctuations of the images of distant sources. We give explicit results for the
case of a scalar field on a flat background in a thermal state.Comment: 26 pages, 1 figure, new material added in Sect. III and in Appendices
B and
Stochastic Spacetime and Brownian Motion of Test Particles
The operational meaning of spacetime fluctuations is discussed. Classical
spacetime geometry can be viewed as encoding the relations between the motions
of test particles in the geometry. By analogy, quantum fluctuations of
spacetime geometry can be interpreted in terms of the fluctuations of these
motions. Thus one can give meaning to spacetime fluctuations in terms of
observables which describe the Brownian motion of test particles. We will first
discuss some electromagnetic analogies, where quantum fluctuations of the
electromagnetic field induce Brownian motion of test particles. We next discuss
several explicit examples of Brownian motion caused by a fluctuating
gravitational field. These examples include lightcone fluctuations, variations
in the flight times of photons through the fluctuating geometry, and
fluctuations in the expansion parameter given by a Langevin version of the
Raychaudhuri equation. The fluctuations in this parameter lead to variations in
the luminosity of sources. Other phenomena which can be linked to spacetime
fluctuations are spectral line broadening and angular blurring of distant
sources.Comment: 15 pages, 3 figures. Talk given at the 9th Peyresq workshop, June
200
Appointment scheduling with unscheduled arrivals and reprioritization
Inspired by the real life problem of a radiology department in a Dutch hospital, we study the problem of scheduling appointments, taking into account unscheduled arrivals and reprioritization. The radiology department offers CT diagnostics to both scheduled and unscheduled patients. Of these unscheduled patients, some must be seen immediately, while others may wait for some time. Herein a trade-off is sought between acceptable waiting times for appointment patients and unscheduled patients’ lateness. In this paper we use a discrete event simulation model to determine the performance of a given appointment schedule in terms of waiting time and lateness. Also we propose a constructive and local search heuristic that embeds this model and optimizes the schedule. For smaller instances, we verify the simulation model as well as compare our search heuristics’ performance with optimal schedules obtained using a Markov reward process. In addition we present computational results from the case study in the Dutch hospital. These results show that a considerable decrease of waiting time is possible for scheduled patients, while still treating unscheduled patients on time
Spatially Explicit Data: Stewardship and Ethical Challenges in Science
Scholarly communication is at an unprecedented turning point created in part by the increasing saliency of data stewardship and data sharing. Formal data management plans represent a new emphasis in research, enabling access to data at higher volumes and more quickly, and the potential for replication and augmentation of existing research. Data sharing has recently transformed the practice, scope, content, and applicability of research in several disciplines, in particular in relation to spatially specific data. This lends exciting potentiality, but the most effective ways in which to implement such changes, particularly for disciplines involving human subjects and other sensitive information, demand consideration. Data management plans, stewardship, and sharing, impart distinctive technical, sociological, and ethical challenges that remain to be adequately identified and remedied. Here, we consider these and propose potential solutions for their amelioration
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