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Well-stratified Middle Palaeolithic assemblages are extremely rare in Mongolia. Initially investigated between the 1960s and 1990s, three major Middle Palaeolithic sites in the Orkhon Valley of central Mongolia yielded a large quantity of data and generated many research questions that still await answers. Re-investigation of these sites has uncovered chronostratigraphic and cultural sequences that may shed new light on human dispersal routes.
Formation of resonant multi-lane patterns in circumbinary young debris disks with planets is considered in a set of representative massively simulated models. We find that the long term-stable resonant patterns are generically formed, shepherded by embedded planets. The patterns are multi-lane, i.e., they consist of several concentric rings. Statistical dependences of their parameters on the planetary parameters are recovered. Relevant additional massive simulations of planetesimal disks in systems with parameters of Kepler-16, 34, and 35 are accomplished and described. We find that co-orbital patterns generically form in systems with moderate orbital eccentricities of the binary’s and planetary orbits (like in Kepler-16 and 35 cases).
Cohort effects are important factors in determining the evolution of human mortality for certain countries. Extensions of dynamic mortality models with cohort features have been proposed in the literature to account for these factors under the generalised linear modelling framework. In this paper we approach the problem of mortality modelling with cohort factors incorporated through a novel formulation under a state-space methodology. In the process we demonstrate that cohort factors can be formulated naturally under the state-space framework, despite the fact that cohort factors are indexed according to year-of-birth rather than year. Bayesian inference for cohort models in a state-space formulation is then developed based on an efficient Markov chain Monte Carlo sampler, allowing for the quantification of parameter uncertainty in cohort models and resulting mortality forecasts that are used for life expectancy and life table constructions. The effectiveness of our approach is examined through comprehensive empirical studies involving male and female populations from various countries. Our results show that cohort patterns are present for certain countries that we studied and the inclusion of cohort factors are crucial in capturing these phenomena, thus highlighting the benefits of introducing cohort models in the state-space framework. Forecasting of cohort models is also discussed in light of the projection of cohort factors.
This paper explores and develops alternative statistical representations and estimation approaches for dynamic mortality models. The framework we adopt is to reinterpret popular mortality models such as the Lee–Carter class of models in a general state-space modelling methodology, which allows modelling, estimation and forecasting of mortality under a unified framework. We propose alternative model identification constraints which are more suited to statistical inference in filtering and parameter estimation. We then develop a class of Bayesian state-space models which incorporate a priori beliefs about the mortality model characteristics as well as for more flexible and appropriate assumptions relating to heteroscedasticity that present in observed mortality data. To study long-term mortality dynamics, we introduce stochastic volatility to the period effect. The estimation of the resulting stochastic volatility model of mortality is performed using a recent class of Monte Carlo procedure known as the class of particle Markov chain Monte Carlo methods. We illustrate the framework using Danish male mortality data, and show that incorporating heteroscedasticity and stochastic volatility markedly improves model fit despite an increase of model complexity. Forecasting properties of the enhanced models are examined with long-term and short-term calibration periods on the reconstruction of life tables.
This paper studies the large-scale low-frequency variability of the wind-driven midlatitude ocean gyres and their western boundary currents, such as the Gulf Stream or Kuroshio, simulated with the eddy-resolving quasi-geostrophic model. We applied empirical orthogonal functions analysis to turbulent flow solutions and statistically extracted robust and significant large-scale decadal variability modes concentrated around the eastward jet extension of the western boundary currents. In order to interpret these statistical modes dynamically, we linearized the governing quasi-geostrophic equations around the time-mean circulation and solved for the corresponding full set of linear eigenmodes with their eigenfrequencies. We then projected the extracted decadal variability on the eigenmodes and found that this variability is a multimodal coherent pattern phenomenon rather than a single mode or a combination of several modes as in the flow regimes preceding developed turbulence.
The local volatility model is a well-known extension of the Black–Scholes constant volatility model, whereby the volatility is dependent on both time and the underlying asset. This model can be calibrated to provide a perfect fit to a wide range of implied volatility surfaces. The model is easy to calibrate and still very popular in foreign exchange option trading. In this paper, we address a question of validation of the local volatility model. Different stochastic models for the underlying asset can be calibrated to provide a good fit to the current market data, which should be recalibrated every trading date. A good fit to the current market data does not imply that the model is appropriate, and historical backtesting should be performed for validation purposes. We study delta hedging errors under the local volatility model using historical data from 2005 to 2011 for the AUD/USD implied volatility. We performed backtests for a range of option maturities and strikes using sticky delta and theoretically correct delta hedging. The results show that delta hedging errors under the standard Black–Scholes model are no worse than those of the local volatility model. Moreover, for the case of in- and at-the-money options, the hedging error for the Black–Scholes model is significantly better.
Financial contracts with options that allow the holder to extend the contract maturity by paying an additional fixed amount have found many applications in finance. Closed-form solutions for the price of these options have appeared in the literature for the case when the contract for the underlying asset follows a geometric Brownian motion with constant interest rate, volatility and nonnegative dividend yield. In this paper, option price is derived for the case of the underlying asset that follows a geometric Brownian motion with time-dependent drift and volatility, which is more important for real life applications. The option price formulae are derived for the case of a drift that includes nonnegative or negative dividend. The latter yields a solution type that is new to the literature. A negative dividend corresponds to a negative foreign interest rate for foreign exchange options, or storage costs for commodity options. It may also appear in pricing options with transaction costs or real options, where the drift is larger than the interest rate.
AlGaN-based SQW heterostructures grown by plasma-assisted molecular beam epitaxy on c-Al2O3 substrates have been studied with high resolution transmission electron microscopy (HR TEM), photoluminescence spectroscopy and x-ray diffraction. The high-temperature (780°C) synthesis of the AlN buffer layer nucleated on c-Al2O3 by a migration enhanced epitaxy and including several ultra-thin GaN interlayers grown under moderate N-rich conditions was shown to be the optimum approach for lowering the threading dislocations density down to 108-109 cm-2. HR TEM study has confirmed the fine structure of single quantum wells (SQW) formed by a sub-monolayer digital alloying technique and revealed different kinds of compositional inhomogeneities in the AlxGa1-xN barrier layers of the heterostructures, including the formation of Al-rich barriers induced by the temperature-modulated epitaxy and the spontaneous compositional disordering along the growth axis for x=0.6-0.7. The influence of these phenomena on the parameters of the mid-UV stimulated emission observed in the SQW structures has been studied as well.
This paper presents the data on sorption efficiency of nanodiamonds, detonation soot and its complexes with polyaniline for nano size biological objects: fragments of cDNA and epidemic influenza viruses, including A(H1N1, H3N2) and B strains, isolated in 1999-2010, pandemic strain A(H1N1)pdm09, influenza avian A(H5N2) viruses and reassortants A(H5N2) and A(H5N1). As the result of the sorption on detonation nanodiamonds (DND), detonation soot and their complexes with polyaniline, hemagglutination (HA) titers of virus solutions decreased by ≤ 4000 times for concentrated viruses, suspended in saline and by ≤8 times for allantoic viruses. The detonation soot was approximately 2.5 times more effective than DND. Detonation nanodiamond materials proved to be efficient sorbents for cDNA fragments of >190 bp size. No desorption of viruses from nanodiamonds and soot into saline was revealed (observation time 48 h). DND and soot at concentrations ≤ 1 mg/ml were not toxic for MDCK cells. A moderate increase of monocytes was registrated in blue rats after intra-abdominal immunization with DND+ virus complexes.
The meeting was attended by 5 members of the WG (E. Bowell, G. Consolmagno, R. Courtain, R. Lopez, R. Schulz) one Task Group member (J. Watanabe), and several guests from the CSBN and CBAT. It was decided at the beginning of the meeting that the attending members of the WGPSN would discuss matters, provide their opinion or vote, and then ask the other 8 formal members to do the same via email. As a consequence the following discussed items have been agreed by majority vote of the WG members.
Following the approach of Melnikov & Shevchenko (2008), we explore how the nonlinearity in the emission-line luminosity Ll of a broad-line region cloud, in its dependence on the ionizing continuum flux Fi incident on the cloud, affects estimates of the size of the broad-line region by means of cross-correlation methods. We show that the estimates obtained by straightforward cross-correlation of emission-line and continuum light curves can significantly underestimate the BLR size. We demonstrate examples of direct reverberation modelling of AGN emission-line light curves taking into account the nonlinearity of the “Ll–Fi” relation. This nonlinearity allows one to explain the differences in the time lags for different lines. Cross-correlation estimates of the BLR size turn out to be small in comparison to the estimates obtained by the direct reverberation modelling.
We investigate the problem of the typical rotation states of the small planetary satellites from the viewpoint of the dynamical stability of their rotation. We show that the majority of the discovered satellites with unknown rotation periods cannot rotate synchronously, because no stable synchronous 1:1 spin-orbit state exists for them. They rotate either much faster than synchronously (those tidally unevolved) or, what is much less probable, chaotically (tidally evolved objects or captured slow rotators).
In this paper we examine the claims reserving problem using Tweedie's compound Poisson model. We develop the maximum likelihood and Bayesian Markov chain Monte Carlo simulation approaches to fit the model and then compare the estimated models under different scenarios. The key point we demonstrate relates to the comparison of reserving quantities with and without model uncertainty incorporated into the prediction. We consider both the model selection problem and the model averaging solutions for the predicted reserves. As a part of this process we also consider the sub problem of variable selection to obtain a parsimonious representation of the model being fitted.
The Working Group on Planetary System Nomenclature (WG-PSN) develops, maintains and publishes guidelines for naming natural satellites of planets and surface features on all solar system bodies except Earth. When required the WG approves lists of new nomenclature, with accompanying explanatory notes, based on the established guidelines. Approved names are immediately added into the Gazetteer of Planetary Nomenclature. Objections based on significant, substantive problems may be submitted within a 3-months period, and will be ruled on by Division III.
The regular CCD observations of near-Earth asteroids (NEAs) in the Institute of Astronomy of Kharkiv National University were initiated in 1995 within the framework of asteroid hazard problem in collaboration with the DLR, Institute of Planetary Research (Berlin). The main aim of the study is a determination of rotation periods and shapes of NEAs as well as astrometry of newly discovered objects. We also carry out the absolute photometry of NEAs in BVRI bands in order to put constraints on surface properties and to estimate their diameters. The observations are carried out with 0.7-m telescope of the Institute of Astronomy (Kharkiv) and with 1-m telescope of the Crimean Astrophysical Observatory (Simeiz) in the standard Johnson-Cousins photometric system. Some observations were made as an optical support of radar observation of NEAs. We present the results of photometric observations of 21 NEAs obtained in 2004-2006 which include asteroid rotation properties, diameters and shapes.
Since July 1996, 815 new names on features on bodies in the Solar System have been assigned by the WGPSN and approved at the IAU General Assembly in Kyoto in 1997. Of these names, 666 were for Venus, 17 for Mars, 3 for the Moon, 125 for the Galilean satellites, 3 for the Uranian satellite Miranda, and 1 for the minor planet Ida. 71 additional names mostly on Venus have been selected and have been given or are awaiting provisional approval by the IAU Executive Committee (EC). These names are up for final approval at the next IAU General Assembly.
During past three years from 1982 to 1984 we saw the further progress in the planets and satellites research by the space and ground-based technique, in the analysis and interpretation of the observational data. Inspite of some decrease of the activity in the planetary spacecrafts launches during this period (except of two Soviet missions to Venus) many important scientific results were obtained from the continued reduction and analysis of the measurements which were performed by Mariner 10 (Mercury), Pioneer Venus, Venera 13 and 14, Viking (Mars), Pioneer 10 and 11, and Voyager 1 and 2.
Since the last General Assembly in Patras, Greece, we have held three meetings of the Working Group. The 10th Meeting was held in Mzkheta, the ancient capital of Georgia, USSR, hosted by their Academy of Sciences on April 3-7, 1984. All members except one, who was represented by a member of his Task Group, were present at the very productive meeting.
Four T Tau stars and related objects (RY Tau, T Tau, AB Aur and V1057 Cyg) have been included in our spectroscopic programme since 1973. The present paper is concerned with the spectroscopic observations made at the Crimea with the single-stage image tube S1. Tentative atomic line identifications are given for programme stars. CaII and OI emission line equivalent widths and profiles are presented for RY Tau, T Tau and AB Aur. The λ10830 Å line of neutral helium has shown P Cyg-type features for T Tau and V 1057 Cyg.
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