Where do electronic markets come from? Regulation and the transformation of financial exchanges

The practices of high-frequency trading (HFT) are dependent on automated financial markets, especially those produced by securities exchanges electronically interconnected with competing exchanges. How did this infrastructural and organizational state of affairs come to be? Employing the conceptual distinction between fixed-role and switch-role markets, we analyse the discourse surrounding the design and eventual approval of the Securities and Exchange Commission’s Regulation of Exchanges and Alternative Trading Systems (Reg ATS). We find that the disruption of the exchange industry at the hands of automated markets was produced through an interweaving of both technological and political change. This processual redefinition of the ‘exchange’, in addition, may provide a suggestive precedent for understanding contemporary regulatory crises generated by other digital marketplace platforms

Counterintuitive transitions in the multistate Landau-Zener problem with linear level crossings

We generalize the Brundobler-Elser hypothesis in the multistate Landau-Zener problem to the case when instead of a state with the highest slope of the diabatic energy level there is a band of states with an arbitrary number of parallel levels having the same slope. We argue that the probabilities of counterintuitive transitions among such states are exactly zero.Comment: 9 pages, 5 figure

The COBE Diffuse Infrared Background Experiment Search for the Cosmic Infrared Background: I. Limits and Detections

The DIRBE on the COBE spacecraft was designed primarily to conduct systematic search for an isotropic CIB in ten photometric bands from 1.25 to 240 microns. The results of that search are presented here. Conservative limits on the CIB are obtained from the minimum observed brightness in all-sky maps at each wavelength, with the faintest limits in the DIRBE spectral range being at 3.5 microns (\nu I_\nu < 64 nW/m^2/sr, 95% CL) and at 240 microns (\nu I_\nu < 28 nW/m^2/sr, 95% CL). The bright foregrounds from interplanetary dust scattering and emission, stars, and interstellar dust emission are the principal impediments to the DIRBE measurements of the CIB. These foregrounds have been modeled and removed from the sky maps. Assessment of the random and systematic uncertainties in the residuals and tests for isotropy show that only the 140 and 240 microns data provide candidate detections of the CIB. The residuals and their uncertainties provide CIB upper limits more restrictive than the dark sky limits at wavelengths from 1.25 to 100 microns. No plausible solar system or Galactic source of the observed 140 and 240 microns residuals can be identified, leading to the conclusion that the CIB has been detected at levels of \nu I_\nu = 25+-7 and 14+-3 nW/m^2/sr at 140 and 240 microns respectively. The integrated energy from 140 to 240 microns, 10.3 nW/m^2/sr, is about twice the integrated optical light from the galaxies in the Hubble Deep Field, suggesting that star formation might have been heavily enshrouded by dust at high redshift. The detections and upper limits reported here provide new constraints on models of the history of energy-releasing processes and dust production since the decoupling of the cosmic microwave background from matter.Comment: 26 pages and 5 figures, accepted for publication in the Astrophyical Journa

Cosmic microwave background polarization, Faraday rotation and stochastic gravity-waves backgrounds

A magnetic field, coherent over the horizon size at the decoupling and strong enough to rotate the polarization plane of the CMBR, can be generated from the electromagnetic vacuum fluctuations amplified by the space-time evolution of the dilaton coupling. The possible relevance of this result for superstring inspired cosmological models is discussed. Particular attention will be paid to the connection between Faraday rotation signals and stochastic gravity-wave backgrounds.Comment: 24 A4 pages in Latex style plus two figures combined into an eps file, accepted for publication in Physical Review

The Hubble Space Telescope Cluster Supernova Survey: VI. The Volumetric Type Ia Supernova Rate

We present a measurement of the volumetric Type Ia supernova (SN Ia) rate out to z ~ 1.6 from the Hubble Space Telescope Cluster Supernova Survey. In observations spanning 189 orbits with the Advanced Camera for Surveys we discovered 29 SNe, of which approximately 20 are SNe Ia. Twelve of these SNe Ia are located in the foregrounds and backgrounds of the clusters targeted in the survey. Using these new data, we derive the volumetric SN Ia rate in four broad redshift bins, finding results consistent with previous measurements at z > 1 and strengthening the case for a SN Ia rate that is equal to or greater than ~0.6 x 10^-4/yr/Mpc^3 at z ~ 1 and flattening out at higher redshift. We provide SN candidates and efficiency calculations in a form that makes it easy to rebin and combine these results with other measurements for increased statistics. Finally, we compare the assumptions about host-galaxy dust extinction used in different high-redshift rate measurements, finding that different assumptions may induce significant systematic differences between measurements.Comment: 11 pages, 7 figures. Submitted to the Astrophysical Journal. Revised version following referee comments. See the HST Cluster SN Survey website at http://supernova.lbl.gov/2009ClusterSurvey for control time simulations in a machine-readable table and a complete listing of transient candidates from the surve

The Hubble Space Telescope Cluster Supernova Survey: V. Improving the Dark Energy Constraints Above z>1 and Building an Early-Type-Hosted Supernova Sample

We present ACS, NICMOS, and Keck AO-assisted photometry of 20 Type Ia supernovae SNe Ia from the HST Cluster Supernova Survey. The SNe Ia were discovered over the redshift interval 0.623 < z < 1.415. Fourteen of these SNe Ia pass our strict selection cuts and are used in combination with the world's sample of SNe Ia to derive the best current constraints on dark energy. Ten of our new SNe Ia are beyond redshift $z=1$, thereby nearly doubling the statistical weight of HST-discovered SNe Ia beyond this redshift. Our detailed analysis corrects for the recently identified correlation between SN Ia luminosity and host galaxy mass and corrects the NICMOS zeropoint at the count rates appropriate for very distant SNe Ia. Adding these supernovae improves the best combined constraint on the dark energy density \rho_{DE}(z) at redshifts 1.0 < z < 1.6 by 18% (including systematic errors). For a LambdaCDM universe, we find \Omega_\Lambda = 0.724 +0.015/-0.016 (68% CL including systematic errors). For a flat wCDM model, we measure a constant dark energy equation-of-state parameter w = -0.985 +0.071/-0.077 (68% CL). Curvature is constrained to ~0.7% in the owCDM model and to ~2% in a model in which dark energy is allowed to vary with parameters w_0 and w_a. Tightening further the constraints on the time evolution of dark energy will require several improvements, including high-quality multi-passband photometry of a sample of several dozen z>1 SNe Ia. We describe how such a sample could be efficiently obtained by targeting cluster fields with WFC3 on HST.Comment: 27 pages, 11 figures. Submitted to ApJ. This first posting includes updates in response to comments from the referee. See http://www.supernova.lbl.gov for other papers in the series pertaining to the HST Cluster SN Survey. The updated supernova Union2.1 compilation of 580 SNe is available at http://supernova.lbl.gov/Unio

Ensemble density functional theory of the fractional quantum Hall effect

We develop an ensemble density functional theory for the fractional quantum Hall effect using a local density approximation. Model calculations for edge reconstructions of a spin-polarized quantum dot give results in good agreement with semiclassical and Hartree-Fock calculations, and with small system numerical diagonalizations. This establishes the usefulness of density functional theory to study the fractional quantum Hall effect, which opens up the possibility of studying inhomegeneous systems with many more electrons than has heretofore been possible.Comment: Improved discussion of ensemble density functional theory. 4 pages plus 3 postscript figures, uses latex with revtex. Contact [email protected]

Planck 2015 results. XXIII. The thermal Sunyaev-Zeldovich effect--cosmic infrared background correlation

We use Planck data to detect the cross-correlation between the thermal Sunyaev-Zeldovich (tSZ) effect and the infrared emission from the galaxies that make up the the cosmic infrared background (CIB). We first perform a stacking analysis towards Planck-confirmed galaxy clusters. We detect infrared emission produced by dusty galaxies inside these clusters and demonstrate that the infrared emission is about 50% more extended than the tSZ effect. Modelling the emission with a Navarro--Frenk--White profile, we find that the radial profile concentration parameter is $c_{500} = 1.00^{+0.18}_{-0.15}$. This indicates that infrared galaxies in the outskirts of clusters have higher infrared flux than cluster-core galaxies. We also study the cross-correlation between tSZ and CIB anisotropies, following three alternative approaches based on power spectrum analyses: (i) using a catalogue of confirmed clusters detected in Planck data; (ii) using an all-sky tSZ map built from Planck frequency maps; and (iii) using cross-spectra between Planck frequency maps. With the three different methods, we detect the tSZ-CIB cross-power spectrum at significance levels of (i) 6 $\sigma$, (ii) 3 $\sigma$, and (iii) 4 $\sigma$. We model the tSZ-CIB cross-correlation signature and compare predictions with the measurements. The amplitude of the cross-correlation relative to the fiducial model is $A_{\rm tSZ-CIB}= 1.2\pm0.3$. This result is consistent with predictions for the tSZ-CIB cross-correlation assuming the best-fit cosmological model from Planck 2015 results along with the tSZ and CIB scaling relations.Comment: 18 pages, 16 figure

The Atmospheric Infrared Sounder Version 6 Cloud Products

The version 6 cloud products of the Atmospheric Infrared Sounder (AIRS) and Advanced Microwave Sounding Unit (AMSU) instrument suite are described. The cloud top temperature, pressure, and height and effective cloud fraction are now reported at the AIRS field-of-view (FOV) resolution. Significant improvements in cloud height assignment over version 5 are shown with FOV-scale comparisons to cloud vertical structure observed by the CloudSat 94 GHz radar and the Cloud-Aerosol LIdar with Orthogonal Polarization (CALIOP). Cloud thermodynamic phase (ice, liquid, and unknown phase), ice cloud effective diameter D(sub e), and ice cloud optical thickness () are derived using an optimal estimation methodology for AIRS FOVs, and global distributions for 2007 are presented. The largest values of tau are found in the storm tracks and near convection in the tropics, while D(sub e) is largest on the equatorial side of the midlatitude storm tracks in both hemispheres, and lowest in tropical thin cirrus and the winter polar atmosphere. Over the Maritime Continent the diurnal variability of tau is significantly larger than for the total cloud fraction, ice cloud frequency, and D(sub e), and is anchored to the island archipelago morphology. Important differences are described between northern and southern hemispheric midlatitude cyclones using storm center composites. The infrared-based cloud retrievals of AIRS provide unique, decadal-scale and global observations of clouds over portions of the diurnal and annual cycles, and capture variability within the mesoscale and synoptic scales at all latitudes

CMB Telescopes and Optical Systems

The cosmic microwave background radiation (CMB) is now firmly established as a fundamental and essential probe of the geometry, constituents, and birth of the Universe. The CMB is a potent observable because it can be measured with precision and accuracy. Just as importantly, theoretical models of the Universe can predict the characteristics of the CMB to high accuracy, and those predictions can be directly compared to observations. There are multiple aspects associated with making a precise measurement. In this review, we focus on optical components for the instrumentation used to measure the CMB polarization and temperature anisotropy. We begin with an overview of general considerations for CMB observations and discuss common concepts used in the community. We next consider a variety of alternatives available for a designer of a CMB telescope. Our discussion is guided by the ground and balloon-based instruments that have been implemented over the years. In the same vein, we compare the arc-minute resolution Atacama Cosmology Telescope (ACT) and the South Pole Telescope (SPT). CMB interferometers are presented briefly. We conclude with a comparison of the four CMB satellites, Relikt, COBE, WMAP, and Planck, to demonstrate a remarkable evolution in design, sensitivity, resolution, and complexity over the past thirty years.Comment: To appear in: Planets, Stars and Stellar Systems (PSSS), Volume 1: Telescopes and Instrumentatio