Credit risk premia and quadratic BSDEs with a single jump

This paper is concerned with the determination of credit risk premia of defaultable contingent claims by means of indifference valuation principles. Assuming exponential utility preferences we derive representations of indifference premia of credit risk in terms of solutions of Backward Stochastic Differential Equations (BSDE). The class of BSDEs needed for that representation allows for quadratic growth generators and jumps at random times. Since the existence and uniqueness theory for this class of BSDEs has not yet been developed to the required generality, the first part of the paper is devoted to fill that gap. By using a simple constructive algorithm, and known results on continuous quadratic BSDEs, we provide sufficient conditions for the existence and uniqueness of quadratic BSDEs with discontinuities at random times

Two Component Heat Diffusion Observed in CMR Manganites

We investigate the low-temperature electron, lattice, and spin dynamics of LaMnO_3 (LMO) and La_0.7Ca_0.3MnO_3 (LCMO) by resonant pump-probe reflectance spectroscopy. Probing the high-spin d-d transition as a function of time delay and probe energy, we compare the responses of the Mott insulator and the double-exchange metal to the photoexcitation. Attempts have previously been made to describe the sub-picosecond dynamics of CMR manganites in terms of a phenomenological three temperature model describing the energy transfer between the electron, lattice and spin subsystems followed by a comparatively slow exponential decay back to the ground state. However, conflicting results have been reported. Here we first show clear evidence of an additional component in the long term relaxation due to film-to-substrate heat diffusion and then develop a modified three temperature model that gives a consistent account for this feature. We confirm our interpretation by using it to deduce the bandgap in LMO. In addition we also model the non-thermal sub-picosecond dynamics, giving a full account of all observed transient features both in the insulating LMO and the metallic LCMO.Comment: 6 pages, 5 figures http://link.aps.org/doi/10.1103/PhysRevB.81.064434 v2: Abstract correcte

Comparison of two regularization methods for Soft x-ray tomography at Tore Supra

International audienceSoft x-ray (SXR) emission in the range 0.1-20 keV is widely used to obtain valuable information on tokamak plasma physics, such as particle transport, magnetic configuration or magnetohydrodynamic activity. In particular, 2D tomography is the usual plasma diagnostic to access the local SXR emissivity. The tomographic inversion is traditionally performed from lineintegrated measurements of two or more cameras viewing the plasma in a poloidal cross-section, like at Tore Supra (TS). Unfortunately, due to the limited number of measured projections and presence of noise, the tomographic reconstruction of SXR emissivity is a mathematical ill-posed problem. Thus, obtaining reliable results of the tomographic inversion is a very challenging task. In order to perform the reconstruction, inversion algorithms implemented in present tokamaks use a priori information as additional constraints imposed on the plasma SXR emissivity. Among several potential inversion methods, some of them have been identified as well suited to tokamak plasmas. The purpose of this work is to compare two promising inversion methods, i.e. the minimum fisher information method already used at TS and planned for WEST configuration, and the alternative 2nd order Phillips-Tikhonov regularization with smoothness constraints imposed on the second derivative norm. Respective accuracy of both reconstruction methods as well as overall robustness and computational time are studied, using several synthetic SXR emissivity profiles. Finally, a real case is studied through tomographic reconstruction from TS SXR database

Fourier transform pure nuclear quadrupole resonance by pulsed field cycling

We report the observation of Fourier transform pure NQR by pulsed field cycling. For deuterium, well resolved spectra are obtained with high sensitivity showing the low frequency nu0 lines and allowing assignments of quadrupole couplings and asymmetry parameters to inequivalent deuterons. The technique is ideally applicable to nuclei with low quadrupolar frequencies (e.g., 2D, 7Li, 11B, 27Al, 23Na, 14N) and makes possible high resolution structure determination in polycrystalline or disordered materials

Anharmonic softening of Raman active phonons in Iron-Pnictides; estimating the Fe isotope effect due to anharmonic expansion

We present Raman measurements on the iron-pnictide superconductors CeFeAsO_{1-x}F_{x} and NdFeAsO{1-x}F_{x}. Modeling the Fe-As plane in terms of harmonic and a cubic anharmonic Fe-As interaction we calculate the temperature dependence of the energy and lifetime of the Raman active Fe B_{1g} mode and fit to the observed energy shift. The shifts and lifetimes are in good agreement with those measured also in other Raman studies which demonstrate that the phonon spectrum is well represented by phonon-phonon interactions without any significant electronic contribution. We also estimate the anharmonic expansion from Fe (56->54) isotope substitution to \Delta a=5.1 10^{-4}\AA and \Delta d_{Fe-As}= 2.510^{-4}\AA and the shift of harmonic zero point fluctuations of bond lengths <=3 10^{-5}\AA^2, giving a total relative average decrease of electronic hopping integrals of |\delta t|/t<= 2.0 10^{-4}. The results poses a serious challenge for any theory of superconductivity in the pnictides that does not include electron-phonon interactions to produce a sizable Fe-isotope effect.Comment: 7 pages, 6 figure

Applications of the Cracow X-ray microprobe in tomography

A nuclear microprobe at the IFJ PAN in Cracow has found numerous applications in different fields of research, mostly in biophysics, medical sciences, geology, and material research. In order to extend the research possibilities, a new X-ray microprobe was constructed. This new microprobe consists of three experimental lines dedicated to: (i) X-ray irradiation of biological specimens, (ii) elemental analysis of samples by micro X-ray fluorescence or total reflection X-ray fluorescence methods and (iii) computer microtomography. In this paper the computer microtomography line was described. The line consists of an open type Hamamatsu L9191 X-ray tube with microfocusing to about 2 μm, a high resolution X-ray sensitive CCD camera, and a precise goniometer composed of six piezoelectric motors. Depending on the required X-ray energy, the Hamamatsu tube is used with Ti, Mo, Ag, or W targets. A small focus size and short focus-to-object distance enable to obtain images of samples with a magnification of more than 1000× and resolution of the order of 2 μm. The computer microtomography measurements are carried out using home developed codes combined with commercial software. Details of the microprobe construction and preliminary results of the computer microtomography experiments are presented

Fixational Eye Movements in the Earliest Stage of Metazoan Evolution

All known photoreceptor cells adapt to constant light stimuli, fading the retinal image when exposed to an immobile visual scene. Counter strategies are therefore necessary to prevent blindness, and in mammals this is accomplished by fixational eye movements. Cubomedusae occupy a key position for understanding the evolution of complex visual systems and their eyes are assumedly subject to the same adaptive problems as the vertebrate eye, but lack motor control of their visual system. The morphology of the visual system of cubomedusae ensures a constant orientation of the eyes and a clear division of the visual field, but thereby also a constant retinal image when exposed to stationary visual scenes. Here we show that bell contractions used for swimming in the medusae refresh the retinal image in the upper lens eye of Tripedalia cystophora. This strongly suggests that strategies comparable to fixational eye movements have evolved at the earliest metazoan stage to compensate for the intrinsic property of the photoreceptors. Since the timing and amplitude of the rhopalial movements concur with the spatial and temporal resolution of the eye it circumvents the need for post processing in the central nervous system to remove image blur

Feasibility Study of the Regeneration of Lot\u27s Ait

The purpose of this project was to conduct a feasibility study for the London Borough of Hounslow Council to identify the market, technical, organizational, financial, and social components of regenerating the island Lot’s Ait. The project team investigated the impact and feasibility of creating a boating skills academy, implementing watersports, and creating an incubator space. We conducted interviews with stakeholders, distributed a boating survey, and conducted an on-site analysis of the island in order to make a recommendation to the Council