Large N reduction with overlap fermions

We revisit quenched reduction with fermions and explain how some old problems can be avoided using the overlap Dirac operator.Comment: Lattice2002(chiral) 3 pages, no figure

Overlap Fermions on a 20420^4 Lattice

We report results on hadron masses, fitting of the quenched chiral log, and quark masses from Neuberger's overlap fermion on a quenched $20^4$ lattice with lattice spacing $a = 0.15$ fm. We used the improved gauge action which is shown to lower the density of small eigenvalues for $H^2$ as compared to the Wilson gauge action. This makes the calculation feasible on 64 nodes of CRAY-T3E. Also presented is the pion mass on a small volume ($6^3 \times 12$ with a Wilson gauge action at $\beta = 5.7$). We find that for configurations that the topological charge $Q \ne 0$, the pion mass tends to a constant and for configurations with trivial topology, it approaches zero possibly linearly with the quark mass.Comment: Lattice 2000 (Chiral Fermion), 4 pages, 4 figure

First quarter bank results: good news, bad news

Banks and banking - West ; Banks and banking - California

Pricing Liquidity Risk with Heterogeneous Investment Horizons

We develop an asset pricing model with stochastic transaction costs and investors with heterogeneous horizons. Depending on their horizon, investors hold different sets of assets in equilibrium. This generates segmentation and spillover effects for expected returns, where the liquidity (risk) premium of illiquid assets is determined by investor horizons and the correlation between liquid and illiquid asset returns. We estimate our model for the cross-section of U.S. stock returns and find that it generates a good fit, mainly due to a combination of a substantial expected liquidity premium and segmentation effects, while the liquidity risk premium is small

Bounds on the Wilson Dirac Operator

New exact upper and lower bounds are derived on the spectrum of the square of the hermitian Wilson Dirac operator. It is hoped that the derivations and the results will be of help in the search for ways to reduce the cost of simulations using the overlap Dirac operator. The bounds also apply to the Wilson Dirac operator in odd dimensions and are therefore relevant to domain wall fermions as well.Comment: 16 pages, TeX, 3 eps figures, small corrections and improvement

Noncompact chiral U(1) gauge theories on the lattice

A new, adiabatic phase choice is adopted for the overlap in the case of an infinite volume, noncompact abelian chiral gauge theory. This gauge choice obeys the same symmetries as the Brillouin-Wigner (BW) phase choice, and, in addition, produces a Wess-Zumino functional that is linear in the gauge variables on the lattice. As a result, there are no gauge violations on the trivial orbit in all theories, consistent and covariant anomalies are simply related and Berry's curvature now appears as a Schwinger term. The adiabatic phase choice can be further improved to produce a perfect phase choice, with a lattice Wess-Zumino functional that is just as simple as the one in continuum. When perturbative anomalies cancel, gauge invariance in the fermionic sector is fully restored. The lattice effective action describing an anomalous abelian gauge theory has an explicit form, close to one analyzed in the past in a perturbative continuum framework.Comment: 35 pages, one figure, plain TeX; minor typos corrected; to appear in PR

An alternative to domain wall fermions

We define a sparse hermitian lattice Dirac matrix, $H$, coupling $2n+1$ Dirac fermions. When $2n$ fermions are integrated out the induced action for the last fermion is a rational approximation to the hermitian overlap Dirac operator. We provide rigorous bounds on the condition number of $H$ and compare them to bounds for the higher dimensional Dirac operator of domain wall fermions. Our main conclusion is that overlap fermions should be taken seriously as a practical alternative to domain wall fermions in the context of numerical QCD.Comment: Revtex Latex, 26 pages, 1 figure, a few minor change

Energy minimization using Sobolev gradients: application to phase separation and ordering

A common problem in physics and engineering is the calculation of the minima of energy functionals. The theory of Sobolev gradients provides an efficient method for seeking the critical points of such a functional. We apply the method to functionals describing coarse-grained Ginzburg-Landau models commonly used in pattern formation and ordering processes.Comment: To appear J. Computational Physic

Two dimensional fermions in three dimensional YM

Dirac fermions in the fundamental representation of SU(N) live on the surface of a cylinder embedded in $R^3$ and interact with a three dimensional SU(N) Yang Mills vector potential preserving a global chiral symmetry at finite $N$. As the circumference of the cylinder is varied from small to large, the chiral symmetry gets spontaneously broken in the infinite $N$ limit at a typical bulk scale. Replacing three dimensional YM by four dimensional YM introduces non-trivial renormalization effects.Comment: 21 pages, 7 figures, 5 table