Evolution of coupled lives' dependency across generations and pricing impact

This paper studies the dependence between coupled lives - both within and across generations - and its effects on prices of reversionary annuities in the presence of longevity risk. Longevity risk is represented via a stochastic mortality intensity. Dependence is modelled through copula functions. We consider Archimedean single and multi-parameter copulas. We and that dependence decreases when passing from older generations to younger generations. Not only the level of dependence but also its features - as measured by the copula - change across generations: the best-fit Archimedean copula is not the same across generations. Moreover, for all the generations under exam the single-parameter copula is dominated by the two-parameter one. The independence assumption produces quantifiable mispricing of reversionary annuities. The misspecification of the copula produces different mispricing effects on different generations. The research is conducted using a well-known dataset of double life contracts

Oscillations of vertically integrated relativistic tori -II. Axisymmetric modes in a Kerr spacetime

This is the second of a series of papers investigating the oscillation properties of relativistic, non-selfgravitating tori orbiting around black holes. Extending the work done in a Schwarzschild background, we here consider the axisymmetric oscillations of vertically integrated tori in a Kerr spacetime. The tori are modeled with a number of different non-Keplerian distributions of specific angular momentum and we discuss how the oscillation properties depend on these and on the rotation of the central black hole. We first consider a local analysis to highlight the relations between acoustic and epicyclic oscillations in a Kerr spacetime and subsequently perform a global eigenmode analysis to compute the axisymmetric p modes. In analogy with what found in a Schwarzschild background, these modes behave as sound waves that are modified by rotation and are globally trapped in the torus. For constant distributions of specific angular momentum, the eigenfrequencies appear in a sequence 2:3:4:... which is essentially independent of the size of the disc and of the black hole rotation. For non-constant distributions of angular momentum, on the other hand, the sequence depends on the properties of the disc and on the spin of the black hole, becoming harmonic for sufficiently large tori. We also comment on how p modes could explain the high frequency quasi-periodic oscillations observed in low-mass X-ray binaries with a black hole candidate and the properties of an equivalent model in Newtonian physics.Comment: 13 pages, MNRAS, in pres

Lanthanide(III) complexes are more active inhibitors of the Fenton reaction than pure ligands

OBJECTIVES: This study is an extension to our finding of direct anti-oxidant activities of lanthanide(III) complexes with the heterocyclic compound, 5-aminoorotic acid (AOA). In this experiment, we used AOA and coumarin-3-carboxylic acid as the two heterocyclic compounds with anti-oxidant potential, to produce the complexes with different lanthanides. METHODS: Lanthanide(III) complexes were tested on the iron-driven Fenton reaction. The product of this reaction, the hydroxyl radical, was detected by HPLC. RESULTS: All complexes as well as their ligands had positive or neutral effect on the Fenton reaction but their behavior was different. Both pure ligands in low concentration ratio to iron were inefficient in contrast to some of their complexes. Complexes of neodymium, samarium, gadolinium, and partly of cerium blocked the Fenton reaction at very low ratios (in relation to iron) but the effect disappeared at higher ratios. In contrast, lanthanum complexes appeared to be the most promising. Both blocked the Fenton reaction in a dose-dependent manner. CONCLUSION: Lanthanide(III) complexes were proven to block the iron-driven production of the hydroxyl radical. Second, the lanthanide(III) element appears to be crucial for the anti-oxidant effect. Overall, lanthanum complexes may be promising direct anti-oxidants for future testing

POLICRYPS-based electrically switchable Bragg reflector

The formation and characterization of a switchable volume reflective element fabricated from a polymer liquid crystal (LC) polymer slice (POLICRYPS) structure by holographic photopolymerization at high temperature (65 °C) using a photosensitive/nematic liquid crystal prepolymer mixture is reported. The submicron Bragg structure formed consists of periodic continuous polymeric walls separated by periodic LC channels. The phase separated NLC self-aligns in a homeotropic alignment between the polymer walls as indicated by polarizing optical microscopy analysis (Maltese cross). The resulting periodic grating structure results in a Bragg reflection notch upon illumination with white light due to the periodic variation in refractive index. Electro-optical experiments realized through in-plane electrodes and temperature experiments confirm that the multilayer structure acts as a Bragg mirror whose reflection efficiency can be controlled by either a small (∼3V/μm) electric field or temperature

Short article: When are moving images remembered better? Study–test congruence and the dynamic superiority effect

It has previously been shown that moving images are remembered better than static ones. In two experiments, we investigated the basis for this dynamic superiority effect. Participants studied scenes presented as a single static image, a sequence of still images, or a moving video clip, and 3 days later completed a recognition test in which familiar and novel scenes were presented in all three formats. We found a marked congruency effect: For a given study format, accuracy was highest when test items were shown in the same format. Neither the dynamic superiority effect nor the study–test congruency effect was affected by encoding (Experiment 1) or retrieval (Experiment 2) manipulations, suggesting that these effects are relatively impervious to strategic control. The results demonstrate that the spatio-temporal properties of complex, realistic scenes are preserved in long-term memory. </jats:p