A maximum principle for infinite horizon delay equations

We prove a maximum principle of optimal control of stochastic delay equations on infinite horizon. We establish first and second sufficient stochastic maximum principles as well as necessary conditions for that problem. We illustrate our results by an application to the optimal consumption rate from an economic quantity

Optimal control of predictive mean-field equations and applications to finance

We study a coupled system of controlled stochastic differential equations (SDEs) driven by a Brownian motion and a compensated Poisson random measure, consisting of a forward SDE in the unknown process $X(t)$ and a \emph{predictive mean-field} backward SDE (BSDE) in the unknowns $Y(t), Z(t), K(t,\cdot)$. The driver of the BSDE at time $t$ may depend not just upon the unknown processes $Y(t), Z(t), K(t,\cdot)$, but also on the predicted future value $Y(t+\delta)$, defined by the conditional expectation $A(t):= E[Y(t+\delta) | \mathcal{F}_t]$. \\ We give a sufficient and a necessary maximum principle for the optimal control of such systems, and then we apply these results to the following two problems:\\ (i) Optimal portfolio in a financial market with an \emph{insider influenced asset price process.} \\ (ii) Optimal consumption rate from a cash flow modeled as a geometric It\^ o-L\' evy SDE, with respect to \emph{predictive recursive utility}

High interseismic coupling in the Eastern Makran (Pakistan) subduction zone

Estimating the extent of interseismic coupling along subduction zone megathrusts is essential for quantitative assessments of seismic and tsunami hazards. Up to now, quantifying the seismogenic potential of the eastern Makran subduction zone at the northern edge of the Indian ocean has remained elusive due to a paucity of geodetic observations. Furthermore, non-tectonic processes obscure the signature of accumulating elastic strain. Historical earthquakes of magnitudes greater than 7 have been reported. In particular, the 1945 Mw 8.1 earthquake resulted in a significant tsunami that swept the shores of the Arabian Sea and the Indian Ocean. A quantitative estimate of elastic strain accumulation along the subduction plate boundary in eastern Makran is needed to confront previous indirect and contradictory conclusions about the seismic potential in the region. Here, we infer the distribution of interseismic coupling on the eastern Makran megathrust from time series of satellite Interferometric Synthetic Aperture Radar (InSAR) images acquired between 2003 and 2010, applying a consistent series of corrections to extract the low amplitude, long wavelength deformation signal associated with elastic strain on the megathrust. We find high interseismic coupling (i.e. the megathrust does not slip and elastic strain accumulates) in the central section of eastern Makran, where the 1945 earthquake occurred, while lower coupling coincides spatially with the subduction of the Sonne Fault Zone. The inferred accumulation of elastic strain since the 1945 earthquake is consistent with the future occurrence of magnitude 7+ earthquakes and we cannot exclude the possibility of a multi-segment rupture (Mw 8+). However, the likelihood for such scenarios might be modulated by partitioning of plate convergence between slip on the megathrust and internal deformation of the overlying, actively deforming, accretionary wedge

New Radar Interferometric Time Series Analysis Toolbox Released

Interferometric synthetic aperture radar (InSAR) has become an important geodetic tool for measuring deformation of Earth’s surface due to various geophysical phenomena, including slip on earthquake faults, subsurface migration of magma, slow‐moving landslides, movement of shallow crustal fluids (e.g., water and oil), and glacier flow. Airborne and spaceborne synthetic aperture radar (SAR) instruments transmit microwaves toward Earth’s surface and detect the returning reflected waves. The phase of the returned wave depends on the distance between the satellite and the surface, but it is also altered by atmospheric and other effects. InSAR provides measurements of surface deformation by combining amplitude and phase information from two SAR images of the same location taken at different times to create an interferogram. Several existing open‐source analysis tools [Rosen et al., 2004; Rosen et al., 2011; Kampes et al., 2003 ; Sandwell et al., 2011] enable scientists to exploit observations from radar satellites acquired at two different epochs to produce a surface displacement map

Measurement of the ttbar Production Cross Section in ppbar Collisions at sqrt(s)=1.96 TeV using Lepton + Jets Events with Lifetime b-tagging

We present a measurement of the top quark pair ($t\bar{t}$) production cross section ($\sigma_{t\bar{t}}$) in $p\bar{p}$ collisions at $\sqrt{s}=1.96$ TeV using 230 pb$^{-1}$ of data collected by the D0 experiment at the Fermilab Tevatron Collider. We select events with one charged lepton (electron or muon), missing transverse energy, and jets in the final state. We employ lifetime-based b-jet identification techniques to further enhance the $t\bar{t}$ purity of the selected sample. For a top quark mass of 175 GeV, we measure $\sigma_{t\bar{t}}=8.6^{+1.6}_{-1.5}(stat.+syst.)\pm 0.6(lumi.)$ pb, in agreement with the standard model expectation.Comment: 7 pages, 2 figures, 3 tables Submitted to Phys.Rev.Let

Measurement of Semileptonic Branching Fractions of B Mesons to Narrow D** States

Using the data accumulated in 2002-2004 with the DO detector in proton-antiproton collisions at the Fermilab Tevatron collider with centre-of-mass energy 1.96 TeV, the branching fractions of the decays B -> \bar{D}_1^0(2420) \mu^+ \nu_\mu X and B -> \bar{D}_2^{*0}(2460) \mu^+ \nu_\mu X and their ratio have been measured: BR(\bar{b}->B) \cdot BR(B-> \bar{D}_1^0 \mu^+ \nu_\mu X) \cdot BR(\bar{D}_1^0 -> D*- pi+) = (0.087+-0.007(stat)+-0.014(syst))%; BR(\bar{b}->B)\cdot BR(B->D_2^{*0} \mu^+ \nu_\mu X) \cdot BR(\bar{D}_2^{*0} -> D*- \pi^+) = (0.035+-0.007(stat)+-0.008(syst))%; and (BR(B -> \bar{D}_2^{*0} \mu^+ \nu_\mu X)BR(D2*0->D*- pi+)) / (BR(B -> \bar{D}_1^{0} \mu^+ \nu_\mu X)\cdot BR(\bar{D}_1^{0}->D*- \pi^+)) = 0.39+-0.09(stat)+-0.12(syst), where the charge conjugated states are always implied.Comment: submitted to Phys. Rev. Let

Search for the standard model Higgs boson in the H to ZZ to 2l 2nu channel in pp collisions at sqrt(s) = 7 TeV

A search for the standard model Higgs boson in the H to ZZ to 2l 2nu decay channel, where l = e or mu, in pp collisions at a center-of-mass energy of 7 TeV is presented. The data were collected at the LHC, with the CMS detector, and correspond to an integrated luminosity of 4.6 inverse femtobarns. No significant excess is observed above the background expectation, and upper limits are set on the Higgs boson production cross section. The presence of the standard model Higgs boson with a mass in the 270-440 GeV range is excluded at 95% confidence level.Comment: Submitted to JHE