Universality in snowflake aggregation

Aggregation of ice crystals is a key process governing precipitation. Individual ice crystals exhibit considerable diversity of shape, and a wide range of physical processes could influence their aggregation; despite this we show that a simple computer model captures key features of aggregate shape and size distribution reported recently from cirrus clouds. The results prompt a new way to plot the experimental size distributions leading to remarkably good dynamical scaling. That scaling independently confirms that there is a single dominant aggregation mechanism at play, albeit our model (based on undeflected trajectories to contact) does not capture its form exactly

Optionspreistheorie bei vagen Daten

In der heutigen Theorie der Optionsbewertung wird davon ausgegangen, daß die Markterwartungen genau berechenbar sind. Die Unsicherheit besteht lediglich darin, welcher Aktienkurs sich letztlich realisiert, die Eintrittswahrscheinlichkeiten sind bekannt. Dabei treten jedoch erhebliche Probleme auf, denn theoretisch erwartete Preise entsprechen oft nicht den am Markt beobachteten. Ziel dieser Arbeit ist es, zu untersuchen, ob auch dann eine Optionsbewertung möglich ist, wenn die Unsicherheit nicht nur auf die Stochastik reduziert wird, sondern wenn zusätzlich angenommen wird, daß Marktteilnehmer nur unscharfes Wissen über künftige Preisentwicklungen haben. Hierbei dient die Fuzzy Set Theorie zur Modellierung der nur größenordnungsmäßig bekannten künftigen Aktienkurse. Es wird in dieser Arbeit zwischen der Optionspreistheorie und der Fuzzy Set Theorie eine Verbindung geschaffen, die es zukünftig erlauben wird, die Unsicherheit im Markt besser zu modellieren, als dies mit heute dominierenden Methoden der Optionsbewertung möglich ist.The classical option pricing theory assumes that the future payoffs are known; uncertain is only which payoff will be realized. The probability distribution is given too. But this model leads to a mismatch of theoretical prices and observable market prices. Moreover, it is not reasonable, why everyone should have the same set of crisp payoffs. In this paper we will show that options can also be valued when uncertainty is not reduced to probabilities of payoffs. In our approach the basic model is extended to the case that payoffs are described by fuzzy numbers. By connecting option pricing theory and fuzzy set theory we get a better model of real financial markets. This allows us to establish modern portfolio instruments in a fuzzy environment

Option pricing theory and fuzzy expectations

In der heutigen Theorie der Optionsbewertung wird davon ausgegangen, daß die Markterwartungen genau berechenbar sind. Die Unsicherheit besteht lediglich darin, welcher Aktienkurs sich letztlich realisiert, die Eintrittswahrscheinlichkeiten sind bekannt. Dabei treten jedoch erhebliche Probleme auf, denn theoretisch erwartete Preise entsprechen oft nicht den am Markt beobachteten. Ziel dieser Arbeit ist es, zu untersuchen, ob auch dann eine Optionsbewertung möglich ist, wenn die Unsicherheit nicht nur auf die Stochastik reduziert wird, sondern wenn zusätzlich angenommen wird, daß Marktteilnehmer nur unscharfes Wissen über künftige Preisentwicklungen haben. Hierbei dient die Fuzzy Set Theorie zur Modellierung der nur größenordnungsmäßig bekannten künftigen Aktienkurse. Es wird in dieser Arbeit zwischen der Optionspreistheorie und der Fuzzy Set Theorie eine Verbindung geschaffen, die es zukünftig erlauben wird, die Unsicherheit im Markt besser zu modellieren, als dies mit heute dominierenden Methoden der Optionsbewertung möglich ist.The classical option pricing theory assumes that the future payoffs are known; uncertain is only which payoff will be realized. The probability distribution is given too. But this model leads to a mismatch of theoretical prices and observable market prices. Moreover, it is not reasonable, why everyone should have the same set of crisp payoffs. In this paper we will show that options can also be valued when uncertainty is not reduced to probabilities of payoffs. In our approach the basic model is extended to the case that payoffs are described by fuzzy numbers. By connecting option pricing theory and fuzzy set theory we get a better model of real financial markets. This allows us to establish modern portfolio instruments in a fuzzy environment

Guided random walk calculation of energies and <\sq {r^2} > values of the 1Σg^1\Sigma_g state of H_2 in a magnetic field

Energies and spatial observables for the $^1\Sigma_g$ state of the hydrogen molecule in magnetic fields parallel to the proton-proton axis are calculated with a guided random walk Feynman-Kac algorithm. We demonstrate that the accuracy of the results and the simplicity of the method may prove it a viable alternative to large basis set expansions for small molecules in applied fields.Comment: 10 pages, no figure

Opening of DNA double strands by helicases. Active versus passive opening

Helicase opening of double-stranded nucleic acids may be "active" (the helicase directly destabilizes the dsNA to promote opening) or "passive" (the helicase binds ssNA available due to a thermal fluctuation which opens part of the dsNA). We describe helicase opening of dsNA, based on helicases which bind single NA strands and move towards the double-stranded region, using a discrete ``hopping'' model. The interaction between the helicase and the junction where the double strand opens is characterized by an interaction potential. The form of the potential determines whether the opening is active or passive. We calculate the rate of passive opening for the helicase PcrA, and show that the rate increases when the opening is active. Finally, we examine how to choose the interaction potential to optimize the rate of strand separation. One important result is our finding that active opening can increase the unwinding rate by 7 fold compared to passive opening.Comment: 13 pages, 3 figure

Effects of the current financial and economic crisis on the rural landscape as well as the agri-food sector in Europe and Central Asia

This paper reviews the expected effects of the current financial crisis and subsequent recession on the rural landscape, in particular the agri-food sector in Europe and Central Asia (ECA) on the basis of the structure of the rural economy and of different organisations and institutions. Empirical evidence suggests that the crisis has hit the ECA region the hardest. Agriculture contributes about 9% to gross domestic product (GDP) for the ECA region as a whole with 16% of the population being employed in the agricultural sector. As far as the impact of the financial crisis on the agri-food sector is concerned, there are a few interconnected issues: (1) reduction in income elastic food demand and commodity price decline, (2) loss of employment and earnings of rural people working in urban centres, implying also costly labour reallocation, (3) rising rural poverty originating mainly from lack of opportunities in the non-farm sector and a sizable decline of international remittances, (4) tightening of agricultural credit markets, and the (5) collapse of sectoral government support programs and social safety-net measures in many countries. The paper reveals how the crisis hit farming and broader agri-business differently in general and in the ECA sub-regions

Velocity and processivity of helicase unwinding of double-stranded nucleic acids

Helicases are molecular motors which unwind double-stranded nucleic acids (dsNA) in cells. Many helicases move with directional bias on single-stranded (ss) nucleic acids, and couple their directional translocation to strand separation. A model of the coupling between translocation and unwinding uses an interaction potential to represent passive and active helicase mechanisms. A passive helicase must wait for thermal fluctuations to open dsNA base pairs before it can advance and inhibit NA closing. An active helicase directly destabilizes dsNA base pairs, accelerating the opening rate. Here we extend this model to include helicase unbinding from the nucleic-acid strand. The helicase processivity depends on the form of the interaction potential. A passive helicase has a mean attachment time which does not change between ss translocation and ds unwinding, while an active helicase in general shows a decrease in attachment time during unwinding relative to ss translocation. In addition, we describe how helicase unwinding velocity and processivity vary if the base-pair binding free energy is changed.Comment: To appear in special issue on molecular motors, Journal of Physics - Condensed Matte