Production of trans-Neptunian binaries through chaos-assisted capture

The recent discovery of binary objects in the Kuiper-belt opens an invaluable window into past and present conditions in the trans-Neptunian part of the Solar System. For example, knowledge of how these objects formed can be used to impose constraints on planetary formation theories. We have recently proposed a binary-object formation model based on the notion of chaos-assisted capture. Here we present a more detailed analysis with calculations performed in the spatial (three-dimensional) three- and four-body Hill approximations. It is assumed that the potential binary partners are initially following heliocentric Keplerian orbits and that their relative motion becomes perturbed as these objects undergo close encounters. First, the mass, velocity, and orbital element distribu- tions which favour binary formation are identified in the circular and elliptical Hill limits. We then consider intruder scattering in the circular Hill four-body problem and find that the chaos-assisted capture mechanism is consistent with observed, apparently randomly distributed, binary mutual orbit inclinations. It also predicts asymmetric distributions of retrograde versus prograde orbits. The time-delay induced by chaos on particle transport through the Hill sphere is analogous to the formation of a resonance in a chemical reaction. Implications for binary formation rates are considered and the 'fine-tuning' problem recently identified by Noll et al. (2007) is also addressed.Comment: submitted to MNRA

Capture and escape in the elliptic restricted three-body problem

Several families of irregular moons orbit the giant planets. These moons are thought to have been captured into planetocentric orbits after straying into a region in which the planet's gravitation dominates solar perturbations (the Hill sphere). This mechanism requires a source of dissipation, such as gas-drag, in order to make capture permanent. However, capture by gas-drag requires that particles remain inside the Hill sphere long enough for dissipation to be effective. Recently we have proposed that in the circular restricted three-body problem particles may become caught up in `sticky' chaotic layers which tends to prolong their sojourn within the planet's Hill sphere thereby assisting capture. Here we show that this mechanism survives perturbations due to the ellipticity of the planet's orbit. However, Monte Carlo simulations indicate that the planet's ability to capture moons decreases with increasing orbital eccentricity. At the actual Jupiter's orbital eccentricity, this effects in approximately an order of magnitude lower capture probability than estimated in the circular model. Eccentricities of planetary orbits in the Solar System are moderate but this is not necessarily the case for extrasolar planets which typically have rather eccentric orbits. Therefore, our findings suggest that these extrasolar planets are unlikely to have substantial populations of irregular moons.Comment: This is a preprint of an Article accepted for publication in Monthly Notices of the Royal Astronomical Society, (C) 2004 The Royal Astronomical Societ

The performance of a blended real estate portfolio for UK DC investors

Purpose: The purpose of this paper is to provide a better understanding of the performance implications for UK DC pension fund investors who choose to combine global listed and UK unlisted real estate in a blended allocation relative to a pure unlisted solution. Design/methodology/approach: Blended listed and unlisted real estate portfolios are constructed. Investor risk and returns are then studied over the full 15 year sample horizon and distinct cyclical phases over this period using a number of risk-return metrics. Performance is then contrasted with that of a pure unlisted solution, as well as UK equity market and bond total returns over the same period. Findings: A UK DC pension fund investor choosing to construct a blended global listed and UK unlisted real estate portfolio would have experienced material return enhancement relative to a pure unlisted solution. The “price” of this enhanced performance and improved liquidity profile is, unsurprisingly, higher portfolio volatility. However, because of the improved returns, the impact upon measured risk adjusted returns is less significant. Practical implications: Relatively liquid blended listed and unlisted real estate portfolios create efficient risk and return outcomes for investors. Originality/value: This study uses actual fund rather than index data (i.e. measures delivered returns to investors), has chosen a global rather than single country listed real estate allocation and is focused on providing clarity around the real estate exposure for a specific investment requirement, the UK DC pension fund market

Blending public and private real estate allocations for defined contribution pension funds: A U.K. Case study

This paper analyzes the implications of combining public real estate with a direct real estate allocation. Using actual fund rather than index data, the historic performance of blended portfolios has been simulated and the resulting risk and return characteristics analyzed. The results show that the public real estate component has been accretive to performance in blended real estate portfolios. When accounting for valuation smoothing and the non-normal characteristics of private real estate returns, we show that risk contributions were consistent with asset allocations. In addition, the blended portfolio still provided the multi-asset benefits of private real estate exposure

Quantum equilibration in finite time

It has recently been shown that small quantum subsystems generically equilibrate, in the sense that they spend most of the time close to a fixed equilibrium state. This relies on just two assumptions: that the state is spread over many different energies, and that the Hamiltonian has non-degenerate energy gaps. Given the same assumptions, it has also been shown that closed systems equilibrate with respect to realistic measurements. We extend these results in two important ways. First, we prove equilibration over a finite (rather than infinite) time-interval, allowing us to bound the equilibration time. Second, we weaken the non degenerate energy gaps condition, showing that equilibration occurs provided that no energy gap is hugely degenerate.Comment: 7 page

In-situ acoustic-based analysis system for physical and chemical properties of the lower Martian atmosphere

The Environmental Acoustic Reconnaissance and Sounding experiment (EARS), is composed of two parts: the Environmental Acoustic Reconnaissance (EAR) instrument and the Environmental Acoustic Sounding Experiment (EASE). They are distinct, but have the common objective of characterizing the acoustic environment of Mars. The principal goal of the EAR instrument is "listening" to Mars. This could be a most significant experiment if one thinks of everyday life experience where hearing is possibly the most important sense after sight. Not only will this contribute to opening up this important area of planetary exploration, which has been essentially ignored up until now, but will also bring the general public closer in contact with our most proximate planet. EASE is directed at characterizing acoustic propagation parameters, specifically sound velocity and absorption, and will provide information regarding important physical and chemical parameters of the lower Martian atmosphere; in particular, water vapor content, specific heat capacity, heat conductivity and shear viscosity, which will provide specific constraints in determining its composition. This would enable one to gain a deeper understanding of Mars and its analogues on Earth. Furthermore, the knowledge of the physical and chemical parameters of the Martian atmosphere, which influence its circulation, will improve the comprehension of its climate now and in the past, so as to gain insight on the possibility of the past presence of life on Mars. These aspect are considered strategic in the contest of its exploration, as is clearly indicated in NASA's four main objectives on "Long Term Mars Exploration Program" (http://marsweb.jpl.nasa.gov/mer/science).Comment: 16 pages including figure

The Effects of Prices and Policies on the Demand for Marijuana: Evidence from the National Household Surveys on Drug Abuse

Recent studies have shown that efforts to curb alcohol use by increasing the price of alcohol and limiting youth's access have succeeded, but they may have had the unintended consequencce of increasing marijuana use. This possibility is troubling in light of a recent government report that shows that marijuana use among teens more than doubled between 1990 and 1997. What impact will the proposed large increase in cigarette prices have on the demand for other substances such as marijuana? To better understand how the demand for marijuana responds to changes in the policies and prices that affect its use, we explore the National Household Survy on Drug Abuse (NHSDA). Overall, we find that marijuana, alcohol, and tobacco are complements, sot that increasing the price of any one will decrease the demand for marijuana. The results of this paper will help guide the creation of comprehensive policies that curb the use of marijuana in two ways: first, they quantify the effects of policies aimed at curbing the use of each substance, allowing policymakers to evaluate alternative policy options; and second, they clarify the dynamics and interactions between alcohol, tobacco, and marijuana use in response to government policies.

Fractal Weyl law behavior in an open, chaotic Hamiltonian system

We numerically show fractal Weyl law behavior in an open Hamiltonian system that is described by a smooth potential and which supports numerous above-barrier resonances. This behavior holds even relatively far away from the classical limit. The complex resonance wave functions are found to be localized on the fractal classical repeller.Comment: 4 pages, 3 figures. to appear in Phys Rev

Shear stress fluctuations in the granular liquid and solid phases

We report on experimentally observed shear stress fluctuations in both granular solid and fluid states, showing that they are non-Gaussian at low shear rates, reflecting the predominance of correlated structures (force chains) in the solidlike phase, which also exhibit finite rigidity to shear. Peaks in the rigidity and the stress distribution's skewness indicate that a change to the force-bearing mechanism occurs at the transition to fluid behaviour, which, it is shown, can be predicted from the behaviour of the stress at lower shear rates. In the fluid state stress is Gaussian distributed, suggesting that the central limit theorem holds. The fibre bundle model with random load sharing effectively reproduces the stress distribution at the yield point and also exhibits the exponential stress distribution anticipated from extant work on stress propagation in granular materials.Comment: 11 pages, 3 figures, latex. Replacement adds journal reference and addresses referee comment