The order topology for a von Neumann algebra

The order topology $\tau_o(P)$ (resp. the sequential order topology $\tau_{os}(P)$) on a poset $P$ is the topology that has as its closed sets those that contain the order limits of all their order convergent nets (resp. sequences). For a von Neumann algebra $M$ we consider the following three posets: the self-adjoint part $M_{sa}$, the self-adjoint part of the unit ball $M_{sa}^1$, and the projection lattice $P(M)$. We study the order topology (and the corresponding sequential variant) on these posets, compare the order topology to the other standard locally convex topologies on $M$, and relate the properties of the order topology to the underlying operator-algebraic structure of $M$

Ever Closer Union or Babylonian Discord?

Extensive multilingualism is one of the most important and fundamental principles of the European Union. However, a large number of official languages (currently 23) hinders communication and imposes substantial financial and legal costs. We address the merits of multilingualism and formulate an analytical framework to determine the optimal number of official languages in the EU. Using the results of a 2005 Eurobarometer survey of languages in the EU 27, we first derive the sets of languages that minimize aggregate linguistic disenfranchisement of the Unionís citizens for any given number of languages. We then proceed by discussing the political-economy framework and feasibility of a potential linguistic reform in the EU under alternative voting rules. We argue that a six-language regime would be a reasonable intermediate choice: a lower number of official languages results in excessive linguistic disenfranchisement whereas adding further languages increases the costs but brings only limited benefits. We also show that even though a linguistic reform reducing the number of official languages to six is unlikely to gain sufficient support at the present, this may change in the future since young people are more proficient at speaking foreign languages.http://deepblue.lib.umich.edu/bitstream/2027.42/64410/1/wp887.pd

Information production in credit relationships : on the role of internal ratings in commercial banking

This paper discusses the role of internal corporate ratings as a means by which commercial banks condense their informational advantage and preserve it vis-à-vis a competitive lending market. In drawing on a unique data set collected from leading universal banks in Germany, we are able to evaluate the extent to which non-public information determines corporate ratings. As a point of departure, the paper describes a sample of rating systems currently in use, and points at methodological differences between them. Relying on a probit analysis, we are able to show that the set of qualitative, or soft, factors is not simply redundant with respect to publicly available accounting data. Rather, qualitative information tends to be decisive in at least one third of cases. It tends to improve the firms' overall corporate rating. In the case of conflicting rating changes, i.e. when qualitative and quantitative rating changes have opposing signs, quantitative criteria dominate the overall rating change. Furthermore, the more restrictive the weighting scheme as part of the rating methodology is, the stronger is the impact of qualitative information on the firms' overall rating. The implications of our results underline the need to define stringent rating standards, from both a risk management and a regulatory point of view. Revised edition published in: ZEW Wirtschaftsanalysen 2001, Bd 54, Baden-Baden, Nomo

Voting on the Choice of Core Languages in the European UnionÂ

Extensive multilingualism is one of the most important and fundamental principles of the European Union (EU). However, a large number of languages (currently 23) hinders communication and imposes substantial financial and legal costs. On the other hand, the reduction of the number of languages would disenfranchise some or many EU citizens. We use the results of a survey on languages and argue that even though a linguistic reform reducing the number of languages is unlikely to gain sufficient political support today, this may change in the future since young people are more proficient at speaking foreign languages.Languages, Disenfranchisement, European Union, Linguistic standardization

Ever Closer Union or Babylonian Discord? The Official-language Problem in the European Union

Extensive multilingualism is one of the most important and fundamental principles of the European Union. However, a large number of official languages (currently 23) hinders communication and imposes substantial financial and legal costs. We address the merits of multilingualism and formulate an analytical framework to determine the optimal number of official languages in the EU. Using the results of a 2005 Eurobarometer survey of languages in the EU 27, we first derive the sets of languages that minimize aggregate linguistic disenfranchisement of the Union’s citizens for any given number of languages. We then proceed by discussing the political-economy framework and feasibility of a potential linguistic reform in the EU under alternative voting rules. We argue that a six-language regime would be a reasonable intermediate choice: a lower number of official languages results in excessive linguistic disenfranchisement whereas adding further languages increases the costs but brings only modest benefits. We also show that even though a linguistic reform reducing the number of official languages to six is unlikely to gain sufficient support at the present, this may change in the future since young people are more proficient at speaking foreign languages.

Ever closer Union or Babylonian discord? The official-language problem in the European Union

The policy of official multilingualism is one of the most important and fundamental principles of the Union. However, a large number of official languages imposes substantial financial, communication and legal costs. We address the merits of extensive multilingualism and formulate an analytical framework to determine the optimal number of official languages in the EU. First, we derive the sequence of optimal sets of languages which identifies the sets of languages that minimize aggregate linguistic disenfranchisement of the Union's citizens for any given number of languages. We then proceed by discussing the political-economy framework and feasibility of a potential linguistic reform in the EU under various voting rules, including the Nice Treaty, the proposed European Constitution and the Penrose law. We argue that a six-language regime would be a reasonable intermediate choice: a lower number of official languages results in excessive linguistic disenfranchisement whereas adding further languages increases the costs but brings only modest benefits. We also show that even though a linguistic reform reducing the number of official languages to six is unlikely to gain sufficient support at the present, this may change in the future since young people tend to be more proficient at speaking foreign languages.languages, disenfranchisement, European Union, linguistic standardization

Ever Closer Union or Babylonian Discord?

Extensive multilingualism is one of the most important and fundamental principles of the European Union. However, a large number of official languages (currently 23) hinders communication and imposes substantial financial and legal costs. We address the merits of multilingualism and formulate an analytical framework to determine the optimal number of official languages in the EU. Using the results of a 2005 Eurobarometer survey of languages in the EU 27, we first derive the sets of languages that minimize aggregate linguistic disenfranchisement of the Union’s citizens for any given number of languages. We then proceed by discussing the political-economy framework and feasibility of a potential linguistic reform in the EU under alternative voting rules. We argue that a six-language regime would be a reasonable intermediate choice: a lower number of official languages results in excessive linguistic disenfranchisement whereas adding further languages increases the costs but brings only limited benefits. We also show that even though a linguistic reform reducing the number of official languages to six is unlikely to gain sufficient support at the present, this may change in the future since young people are more proficient at speaking foreign languages.Languages, Disenfranchisement, European Union, Linguistic standardization

Increased efficiency of ion acceleration by using femtosecond laser pulses at higher harmonic frequency

The influence of laser frequency on laser-driven ion acceleration is investigated by means of two-dimensional particle-in-cell simulations. When ultrashort intense laser pulse at higher harmonic frequency irradiates a thin solid foil, the target may become relativistically transparent for significantly lower laser pulse intensity compared to irradiation at fundamental laser frequency. The relativistically induced transparency results in an enhanced heating of hot electrons as well as increased maximum energies of accelerated ions and their numbers. Our simulation results have shown the increase of maximum proton energy and of the number of high-energy protons by a factor of 2 after the interaction of an ultrashort laser pulse of maximum intensity $7 \times 10^{21}~\rm{W/cm^2}$ with a fully ionized plastic foil of realistic density and of optimal thickness between $100~\rm{nm}$ and $200~\rm{nm}$ when switching from the fundamental frequency to the third harmonics