Search results for "EXCHANGE"
showing 10 items of 2035 documents
Deriving Reference Decisions
1998
To solve a statistical decision problem from a Bayesian viewpoint, the decision maker must specify a probability distribution on the parameter space, his prior distribution. In order to analyze the influence of this prior distribution on the solution of the problem, Bernardo (1981) proposed to compare the results with those that one would obtain by using that prior distribution which maximizes the useful experimental information, thus introducing the concept of reference decision. This definition is too involved for most of the problems usually found in practice. Here we analyze situations in which it is possible to simplify the definition of the reference decision, and we provide condition…
On (n-l)-wise and joint independence and normality of n Random variables: an example
1981
An example is given of a vector of n random variables such that any (n-1)-dimensional subvector consists of n-1 independent standard normal variables. The whole vector however is neither independent nor normal.
Dynamics of the Number of Trades of Financial Securities
1999
We perform a parallel analysis of the spectral density of (i) the logarithm of price and (ii) the daily number of trades of a set of stocks traded in the New York Stock Exchange. The stocks are selected to be representative of a wide range of stock capitalization. The observed spectral densities show a different power-law behavior. We confirm the $1/f^2$ behavior for the spectral density of the logarithm of stock price whereas we detect a $1/f$-like behavior for the spectral density of the daily number of trades.
The adaptive nature of liquidity taking in limit order books
2014
In financial markets, the order flow, defined as the process assuming value one for buy market orders and minus one for sell market orders, displays a very slowly decaying autocorrelation function. Since orders impact prices, reconciling the persistence of the order flow with market efficiency is a subtle issue. A possible solution is provided by asymmetric liquidity, which states that the impact of a buy or sell order is inversely related to the probability of its occurrence. We empirically find that when the order flow predictability increases in one direction, the liquidity in the opposite side decreases, but the probability that a trade moves the price decreases significantly. While the…
Pricing of Asian exchange rate options under stochastic interest rates as a sum of options
2002
The aim of the paper is to develop pricing formulas for long term European type Asian options written on the exchange rate in a two currency economy. The exchange rate as well as the foreign and domestic zero coupon bond prices are assumed to follow geometric Brownian motions. The emphasis is devoted to the discretely sampled Asian option. It is shown how the value of this option can be approximated as the sum of Black-Scholes options. The formula is obtained under the extension of results developed by Rogers and Shi (1995) and Jamshidian (1991). In addition bounds for the pricing error are determined. Comparing with Monte Carlo simulation the pricing is found to be very precise.
DFT broken-symmetry exchange couplings calculation in a 1D chain of bridged iron basic carboxylates
2009
DFT broken-symmetry calculations at the B3LYP level were carried out to evaluate the exchange coupling constants defined by the Heisenberg-Dirac-van Vleck spin Hamiltonian (HDvV), Ĥ = -2JŜaŜb, in a 1D chain of iron basic carboxylate cores [Fe3O(Piv)6(H2O)] bridged by dicyanamide, and two related trinuclear Fe3O moieties. The chain complex was modeled as two Fe3O units that preserve all features of the repetitive unit in the infinite real system. All geometries were taken from the crystallographic data previously reported. The obtained calculated values for the J constants are in good agreement with experimental results. The weak anti-ferromagnetic inter-Fe3O core interaction along the chain…
Complexes of organometallic compounds
1974
Abstract Several new complexes formed by PhTlCl 2 with tridentate ligands (with ONO and SNO donor atoms) and a tetradentate ligand (with ONNO donor atoms), have been prepared. The complexes show 1/1 organothallium(lll)/Ligand ( = L 2− ) stoichiometry. Their nature and configuration are investigated in the solid state by vibrational spectroscopy, and in solution by electronic spectroscopy. The existence of chelation by the dianionic ligands on Tl III is inferred, and suggestions are made concerning the Tl III coordination number and the stereochemistry of the complexes.
Magnetic properties of vanadium(IV)-based extended systems: [(VO)3(μ-PO4)2(2,2′-bpy)(μ-OH2)]*1/3H2O and (VO)2H4P2O9
2013
International audience; The magnetic properties of [(VO)3(μ-PO4)2(2,2′-bpy)(μ-OH2)]1/3H2O (1) and (VO)2H4P2O9 (2), a tubular and a layered vanadium(IV) phosphates containing triply oxido bridged VIV dimers, are analyzed considering the Bleaney-Bowers S = 1/2 dimer model. In compound 1 the presence of an additional VIV connected with the VIV dimers through μ1,2-PO43− bridges is described with a Curie-Weiss type correction. This model reproduces the magnetic properties of compound 1 with g = 1.956, Jdim = −102.1 cm−1, θ = −0.4 cm−1 and Nα = 278 × 10−6 emu mol−1. In compound 2, the presence of a small percentage of paramagnetic impurity has to be considered to account for the divergence of χm …
Superexchange-mediated electronic energy transfer in a model dyad
2010
On the basis of time-dependent density functional theory (TD-DFT) calculations coupled to the polarizable continuum model (PCM) and single molecule spectroscopic studies, we provide a detailed investigation of excitation energy transfer within a model bi-chromophoric system where a perylene monoimide (PMI) donor is bridged to a terrylene diimide (TDI) acceptor through a ladder-type pentaphenylene (pPh) spacer. We find that the electronic excitation on the PMI donor significantly extends over the bridge giving rise to a partial charge transfer character and inducing a approximately 3-fold increase in the electronic interaction between the chromophores, which explains the failure of the Först…
Panel Summary One Model for Vision Systems?
1994
This panel reports some considerations about the definition of vision-models. The panellists are scientists working on vision problems from different perspectives. The concept of model in vision seems to remain still open. In fact, it is dynamic, and context dependent. There exists the need for a better exchange of information, among biologists, engineers, physicists, and psychologists in order to improve our knowledge.