Quadratic BSDEs driven by a continuous martingale and application to utility maximization problem

In this paper, we study a class of quadratic Backward Stochastic Differential Equations (BSDEs) which arises naturally when studying the problem of utility maximization with portfolio constraints. We first establish existence and uniqueness results for such BSDEs and then, we give an application to the utility maximization problem. Three cases of utility functions will be discussed: the exponential, power and logarithmic ones

An overview of Viscosity Solutions of Path-Dependent PDEs

This paper provides an overview of the recently developed notion of viscosity solutions of path-dependent partial di erential equations. We start by a quick review of the Crandall- Ishii notion of viscosity solutions, so as to motivate the relevance of our de nition in the path-dependent case. We focus on the wellposedness theory of such equations. In partic- ular, we provide a simple presentation of the current existence and uniqueness arguments in the semilinear case. We also review the stability property of this notion of solutions, in- cluding the adaptation of the Barles-Souganidis monotonic scheme approximation method. Our results rely crucially on the theory of optimal stopping under nonlinear expectation. In the dominated case, we provide a self-contained presentation of all required results. The fully nonlinear case is more involved and is addressed in [12]

Magnetism: the Driving Force of Order in CoPt. A First-Principles Study

CoPt or FePt equiatomic alloys order according to the tetragonal L10 structure which favors their strong magnetic anisotropy. Conversely magnetism can influence chemical ordering. We present here {\it ab initio} calculations of the stability of the L10 and L12 structures of Co-Pt alloys in their paramagnetic and ferromagnetic states. They show that magnetism strongly reinforces the ordering tendencies in this system. A simple tight-binding analysis allows us to account for this behavior in terms of some pertinent parameters

Games, Simulations, Immersive Environments, and Emerging Technologies

International audienceThis entry presents an overview of advanced technologies to support teaching and learning. The use of innovative interactive systems for education has never been higher. Far from being just a trend, the objective is to use the current technology to cover educational needs and create relevant pedagogical situations. The arguments in their favor are generally their positive effects on learners’ motivation and the necessity to provide learning methods adapted to our growing digital culture. The new learning technologies and emerging trends are first reviewed hereunder. We thus define and discuss learning games, gamification, simulation, immersive environments and other emerging technologies. Then, the current limits and remaining scientific challenges are highlighted

MOSAIC: an online database dedicated to the comparative genomics of bacterial strains at the intra-species level

BACKGROUND: The recent availability of complete sequences for numerous closely related bacterial genomes opens up new challenges in comparative genomics. Several methods have been developed to align complete genomes at the nucleotide level but their use and the biological interpretation of results are not straightforward. It is therefore necessary to develop new resources to access, analyze, and visualize genome comparisons. DESCRIPTION: Here we present recent developments on MOSAIC, a generalist comparative bacterial genome database. This database provides the bacteriologist community with easy access to comparisons of complete bacterial genomes at the intra-species level. The strategy we developed for comparison allows us to define two types of regions in bacterial genomes: backbone segments (i.e., regions conserved in all compared strains) and variable segments (i.e., regions that are either specific to or variable in one of the aligned genomes). Definition of these segments at the nucleotide level allows precise comparative and evolutionary analyses of both coding and non-coding regions of bacterial genomes. Such work is easily performed using the MOSAIC Web interface, which allows browsing and graphical visualization of genome comparisons. CONCLUSION: The MOSAIC database now includes 493 pairwise comparisons and 35 multiple maximal comparisons representing 78 bacterial species. Genome conserved regions (backbones) and variable segments are presented in various formats for further analysis. A graphical interface allows visualization of aligned genomes and functional annotations. The MOSAIC database is available online at http://genome.jouy.inra.fr/mosaic

On the Existence of Shadow Prices

For utility maximization problems under proportional transaction costs, it has been observed that the original market with transaction costs can sometimes be replaced by a frictionless "shadow market" that yields the same optimal strategy and utility. However, the question of whether or not this indeed holds in generality has remained elusive so far. In this paper we present a counterexample which shows that shadow prices may fail to exist. On the other hand, we prove that short selling constraints are a sufficient condition to warrant their existence, even in very general multi-currency market models with possibly discontinuous bid-ask-spreads.Comment: 14 pages, 1 figure, to appear in "Finance and Stochastics

Joint association of polymorphism of the FGFR4 gene and mutation TP53 gene with bladder cancer prognosis

The impact of the fibroblast growth factor receptor 4 (FGFR4) Gly388Arg polymorphism on bladder cancer is unknown. We found no clear correlations between the FGFR4 genotype and risk of bladder cancer or pathological parameters. Neither the polymorphism nor TP53 mutation status was an independent predictor of prognosis, but they might act jointly on the disease-specific survival of patients

ASTERIX and 2.0 Knowledge Management : exploring the appropriation of 2.0 KMS via the Myth of the Gaulish village

International audienceKnowledge Management Systems (KMS) in companies have profoundly changed in recent years. They have become KMS 2.0 that aim to transform the firm and are driven by a new relationship to knowledge in line with 2.0 organisations. These 2.0 KMS have implemented modes of organisation that disrupt those that previously guided firms’ performance. This can sometimes lead to paradoxical organizational dysfunctions as witnessed by the difficulties faced by some traditionally hierarchical French companies. Through a case study of Constructor and a theoretical background on IS appropriation in organizations and myths in management, we show how the Asterix myth contributes to understanding how 2.0. KMS are appropriated in such companies. We find evidence of similarities regarding knowledge and Knowledge Management between the Asterix’ myth and the behaviours and practices concerning knowledge management within Constructor. As a result, the Asterix’ myth may be a relevant perspective for understanding the obstacles, advantages and appropriations of 2.0. KMS within French organizations