Risk Minimizing Option Pricing for a Class of Exotic Options in a Markov-Modulated Market

We address risk minimizing option pricing in a regime switching market where the floating interest rate depends on a finite state Markov process. The growth rate and the volatility of the stock also depend on the Markov process. Using the minimal martingale measure, we show that the locally risk minimizing prices for certain exotic options satisfy a system of Black-Scholes partial differential equations with appropriate boundary conditions. We find the corresponding hedging strategies and the residual risk. We develop suitable numerical methods to compute option prices.

Nanoscale ZnO/CdS heterostructures with engineered interfaces for high photocatalytic activity under solar radiation

Semiconductor based nanoscale heterostructures are promising candidates for photocatalytic and photovoltaic applications with the sensitization of a wide bandgap semiconductor with a narrow bandgap material being the most viable strategy to maximize the utilization of the solar spectrum. Here, we present a simple wet chemical route to obtain nanoscale heterostructures of ZnO/CdS without using any molecular linker. Our method involves the nucleation of a Cd-precursor on ZnO nanorods with a subsequent sulfidation step leading to the formation of the ZnO/CdS nanoscale heterostructures. Excellent control over the loading of CdS and the microstructure is realized by merely changing the initial concentration of the sulfiding agent. We show that the heterostructures with the lowest CdS loading exhibit an exceptionally high activity for the degradation of methylene blue (MB) under solar irradiation conditions; microstructural and surface analysis reveals that the higher activity in this case is related to the dispersion of the CdS nanoparticles on the ZnO nanorod surface and to the higher concentration of surface hydroxyl species. Detailed analysis of the mechanism of formation of the nanoscale heterostructures reveals that it is possible to obtain deterministic control over the nature of the interfaces. Our synthesis method is general and applicable for other heterostructures where the interfaces need to be engineered for optimal properties. In particular, the absence of any molecular linker at the interface makes our method appealing for photovoltaic applications where faster rates of electron transfer at the heterojunctions are highly desirable.

Boson Inverse Operators and a New Family of Two-photon Annihilation Operators

We introduce the inverse of the Hermitian operator (acircacirc†) and express the Boson inverse operators acirc-1 and acirc†-1 in terms of the operators acirc, acirc† and (acircacirc†)-1. We show that these Boson inverse operators may be realized by Susskind-Glogower phase operators. In this way, we find a new two-photon annihilation operator and denote it as acirc2(acircacirc†)-1. We show that the eigenstates of this operator have interesting non-classical properties. We find that the eigenstates of the operators (acircacirc†)-1 acirc2, acirc(acircacirc†)-1 acirc and acirc2(acircacirc†)-1 have many similar properties and thus they constitute a family of two-photon annihilation operators.

Multifunctional cryogenic sensors from n-BaTiO3 ceramics having strong negative temperature coefficient of resistance

Donor-doped n-BaTiO3 polycrystalline ceramics show a strong negative temperature coefficient of resistivity below the orthorhombic-rhombohedral phase transition point, from 10(2-3) Omega cm af 190 K to 10(10-13) Omega cm at less than or similar to 50 K, with thermal coefficient of resistance alpha = 20-23% K-1. Stable thermal sensors for low-temperature applications are realized therefrom. The negative temperature coefficient of resistivity region can be modified by substituting isovalent ions in the lattice. Highly nonlinear current-voltage (I-V) curves are observed at low temperatures, with a voltage maximum followed by the negative differential resistance. The I-V curves are sensitive to dissipation so that cryogenic sensors can be fabricated for liquid level control, flow rate monitoring, radiation detection or in-rush voltage limitation.

Physics with e(+)e(-) linear colliders

The physics potential of e(+) e(-) linear colliders is summarized in this report. These machines are planned to operate in the first phase at a center-of-mass energy of 500 GeV, before being scaled up to about 1 TeV. In the second phase of the operation, a final energy of about 2 TeV is expected. The machines will allow us to perform precision tests of the heavy particles in the Standard Model, the top quark and the electroweak bosons. They are ideal facilities for exploring the properties of Higgs particles, in particular in the intermediate mass range. New vector bosons and novel matter particles in extended gauge theories can be searched for and studied thoroughly. The machines provide unique opportunities for the discovery of particles in supersymmetric extensions of the Standard Model, the spectrum of Higgs particles, the supersymmetric partners of the electroweak gauge and Higgs bosons, and of the matter particles. High precision analyses of their properties and interactions will allow for extrapolations to energy scales close to the Planck scale where gravity becomes significant. In alternative scenarios, i.e. compositeness models, novel matter particles and interactions can be discovered and investigated in the energy range above the existing colliders lip to the TeV scale. Whatever scenario is realized in Nature, the discovery potential of e(+) e(-) linear colliders and the high precision with which the properties of particles and their interactions can be analyzed, define an exciting physics program complementary to hadron machines. (C) 1998 Elsevier Science B.V. All rights reserved.

Synthesis of acicular hydrogoethite (alpha-FeOOH center dot xH(2)O; 0.1 < x < 0.22) particles using morphology controlling cationic additives and magnetic properties of maghemite derived from hydrogoethite

A method for the preparation of acicular hydrogoethite (alpha -FeOOH.xH(2)O, 0.1 < x < 0.22) particles of 0.3-1 mm length has been optimized by air oxidation of Fe( II) hydroxide gel precipitated from aqueous (NH4)(2)Fe(SO4)(2) solutions containing 0.005-0.02 atom% of cationic Pt, Pd or Rh additives as morphology controlling agents. Hydrogoethite particles are evolved from the amorphous ferrous hydroxide gel by heterogeneous nucleation and growth. Preferential adsorption of additives on certain crystallographic planes thereby retarding the growth in the perpendicular direction, allows the particles to acquire acicular shapes with high aspect ratios of 8-15. Synthetic hydrogoethite showed a mass loss of about 14% at similar to 280 degreesC, revealing the presence of strongly coordinated water of hydration in the interior of the goethite crystallites. As evident from IR spectra, excess H2O molecules (0.1- 0.22 per formula unit) are located in the strands of channels formed in between the double ribbons of FeO6 octahedra running parallel to the c- axis. Hydrogoethite particles constituted of multicrystallites are formed with Pt as additive, whereas single crystallite particles are obtained with Pd (or Rh). For both dehydroxylation as well as H-2 reduction, a lower reaction temperature (similar to 220 degreesC) was observed for the former (Pt treated) compared to the latter (Pd or Rh) (similar to 260 degreesC). Acicular magnetite (Fe3O4) was prepared either by reducing hydrogoethite (magnetite route) or dehydroxylating hydrogoethite to hematite and then reducing it to magnetite (hematite- magnetite route). According to TEM studies, preferential dehydroxylation of hydrogoethite along < 010 > leads to microporous hematite. Maghemite (gamma -Fe2O3 (-) (delta), 0 < < 0.25) was obtained by reoxidation of magnetite. The micropores are retained during the topotactic transformation to magnetite and finally to maghemite, whereas cylindrical mesopores are formed due to rearrangement of the oxygen sublattice from hexagonal to cubic close packing during the conversion of hydrogoethite to magnetite and then to maghemite. Accordingly, three different types of maghemite particles are realized: strongly oriented multicrystalline particles, single crystalline acicular particles with micropores or crystallites having mesopores. Higher values of saturation magnetization ((s) = 74 emu g(-1)) and coercivity (H-c = 320 Oe) are obtained for single crystalline mesoporous particles. In the other cases, the smaller size of particles and larger distribution of micropores decreases sigma (s) considerably ( < 60 emu g(-1)) due to relaxation effects of spins on the surface atoms as revealed by Mossbauer spectroscopy.

MFIS and MFS structures using SrBi2Ta2O9 thin films for the FRAM applications

Recently there is an increasing demand and extensive research on high density memories, in particular to the ferroelectric random access memory composed of 1T/1C (1 transistor/1 capacitor) or 2T/2C. FRAM's exhibit fast random acess in read/write mode, non - volatility and low power for good performance. An integration of the ferroelectric on Si is the key importance and in this regard, there had been various models proposed like MFS, MFIS, MFMIS structure etc., Choosing the proper insulator is very essential for the better performance of the device and to exhibit excellent electrical characteristics. ZrTiO4 is a potential candidate because of its excellent thermal stability and lattice match on the Si substrate. SrBi2Ta2O9 and ZrTiO4 thin films were prepared on p - type Si substrate by pulsed excimer laser ablation technique. Optimization of both ZT and SBT thin films in MFS and MFIS structure had been done based on the annealing, oxygen partial pressures and substrate temperatures to have proper texture of the thin films. The dc leakage current, P - E hysteresis, capacitance - voltage and conductance - voltage measurement were carried out. The effect of the frequency dependence on MFIS structure was observed in the C – V curve. It displays a transition of C - V curve from high frequency to low frequency curve on subjection to varied frequencies. Density of interface states has been calculated using Terman and high - low frequency C - V curve. The effect of memory window in the C - V hysteresis were analysed in terms of film thickness and annealing temperatures. DC conduction mechanism were analysed in terms of poole - frenkel, Schottky and space charge limited conduction separately on MFS, MIS structure.

MFIS and MFS structures using SrBi2Ta2O9 thin films for the FRAM applications

Recently there is an increasing demand and extensive research on high density memories, in particular to the ferroelectric random access memory composed of 1T/1C (1 transistor/1 capacitor) or 2T/2C. FRAM's exhibit fast random acess in read/write mode, non - volatility and low power for good performance. An integration of the ferroelectric on Si is the key importance and in this regard, there had been various models proposed like MFS, MFIS, MFMIS structure etc., Choosing the proper insulator is very essential for the better performance of the device and to exhibit excellent electrical characteristics. ZrTiO4 is a potential candidate because of its excellent thermal stability and lattice match on the Si substrate. SrBi2Ta2O9 and ZrTiO4 thin films were prepared on p - type Si substrate by pulsed excimer laser ablation technique. Optimization of both ZT and SBT thin films in MFS and MFIS structure had been done based on the annealing, oxygen partial pressures and substrate temperatures to have proper texture of the thin films. The dc leakage current, P - E hysteresis, capacitance - voltage and conductance - voltage measurement were carried out. The effect of the frequency dependence on MFIS structure was observed in the C – V curve. It displays a transition of C - V curve from high frequency to low frequency curve on subjection to varied frequencies. Density of interface states has been calculated using Terman and high - low frequency C - V curve. The effect of memory window in the C - V hysteresis were analysed in terms of film thickness and annealing temperatures. DC conduction mechanism were analysed in terms of poole - frenkel, Schottky and space charge limited conduction separately on MFS, MIS structure.

A Seven-Level Inverter Topology for Induction Motor Drive Using Two-Level Inverters and Floating Capacitor Fed H-Bridges

A multilevel inverter topology for seven-level space vector generation is proposed in this paper. In this topology, the seven-level structure is realized using two conventional two-level inverters and six capacitor-fed H-bridge cells. It needs only two isolated dc-voltage sources of voltage rating V(dc)/2 where V(dc) is the dc voltage magnitude required by the conventional neutral point clamped (NPC) seven-level topology. The proposed topology is capable of maintaining the H-bridge capacitor voltages at the required level of V(dc)/6 under all operating conditions, covering the entire linear modulation and overmodulation regions, by making use of the switching state redundancies. In the event of any switch failure in H-bridges, this inverter can operate in three-level mode, a feature that enhances the reliability of the drive system. The two-level inverters, which operate at a higher voltage level of V(dc)/2, switch less compared to the H-bridges, which operate at a lower voltage level of V(dc)/6, resulting in switching loss reduction. The experimental verification of the proposed topology is carried out for the entire modulation range, under steady state as well as transient conditions.

Acquisition time improvement of PLLs using some aiding functions

Analytical studies are carried out to minimize acquisition time in phase-lock loop (PLL) applications using aiding functions. A second order aided PLL is realized with the help of the quasi-stationary approach to verify the acquisition behavior in the absence of noise. Time acquisition is measured both from the study of the LPF output transient and by employing a lock detecting and indicating circuit to crosscheck experimental and analytical results. A closed form solution is obtained for the evaluation of the time acquisition using different aiding functions. The aiding signal is simple and economical and can be used with state of the art hardware.

Realizing a flexible constraint length Viterbi decoder for software radio on a de Bruijn interconnection network

Building flexible constraint length Viterbi decoders requires us to be able to realize de Bruijn networks of various sizes on the physically provided interconnection network. This paper considers the case when the physical network is itself a de Bruijn network and presents a scalable technique for realizing any n-node de Bruijn network on an N-node de Bruijn network, where n < N. The technique ensures that the length of the longest path realized on the network is minimized and that each physical connection is utilized to send only one data item, both of which are desirable in order to reduce the hardware complexity of the network and to obtain the best possible performance.

Topology Optimization of Micromachined Structures with the Manufacturing Constraints of KOH Etching of (110) Silicon

The focus of this paper is on designing useful compliant micro-mechanisms of high-aspect-ratio which can be microfabricated by the cost-effective wet etching of (110) orientation silicon (Si) wafers. Wet etching of (110) Si imposes constraints on the geometry of the realized mechanisms because it allows only etch-through in the form of slots parallel to the wafer's flat with a certain minimum length. In this paper, we incorporate this constraint in the topology optimization and obtain compliant designs that meet the specifications on the desired motion for given input forces. Using this design technique and wet etching, we show that we can realize high-aspect-ratio compliant micro-mechanisms. For a (110) Si wafer of 250 µm thickness, the minimum length of the etch opening to get a slot is found to be 866 µm. The minimum achievable width of the slot is limited by the resolution of the lithography process and this can be a very small value. This is studied by conducting trials with different mask layouts on a (110) Si wafer. These constraints are taken care of by using a suitable design parameterization rather than by imposing the constraints explicitly. Topology optimization, as is well known, gives designs using only the essential design specifications. In this work, we show that our technique also gives manufacturable mechanism designs along with lithography mask layouts. Some designs obtained are transferred to lithography masks and mechanisms are fabricated on (110) Si wafers.

LTCC ultra wide band filter

This article presents the analysis of ultra wide band (UWB) filler designed using a symmetrical three parallel coupled line resonator in low temperature co-fired ceramic (LTCC) medium: The ground plane with an aperture incorporated in it improves the coupling. Based on circuit models, the designed UWB filter has been analyzed, and the results have been confirmed by experiments. The filter has been realized with Dupont LTCC tape DuPont 951 (that has dielectric constant of 7.8). Maximum insertion loss of the experimental filter is 1.5 dB. The group variation over the pass band of the filter is within 0.2 us. Dimensions of the experimental LTCC filter are 20 x 10 x 0.72 mm. (C) 2011 Wiley Periodicals, Inc. Microwave Opt Technol Lett 53:2580-2583,2011; View this article online at wileyonlinelibrary.com. DOI 10.1002/mop.26311

Open source drug discovery- A new paradigm of collaborative research in tuberculosis drug development

It is being realized that the traditional closed-door and market driven approaches for drug discovery may not be the best suited model for the diseases of the developing world such as tuberculosis and malaria, because most patients suffering from these diseases have poor paying capacity. To ensure that new drugs are created for patients suffering from these diseases, it is necessary to formulate an alternate paradigm of drug discovery process. The current model constrained by limitations for collaboration and for sharing of resources with confidentiality hampers the opportunities for bringing expertise from diverse fields. These limitations hinder the possibilities of lowering the cost of drug discovery. The Open Source Drug Discovery project initiated by Council of Scientific and Industrial Research, India has adopted an open source model to power wide participation across geographical borders. Open Source Drug Discovery emphasizes integrative science through collaboration, open-sharing, taking up multi-faceted approaches and accruing benefits from advances on different fronts of new drug discovery. Because the open source model is based on community participation, it has the potential to self-sustain continuous development by generating a storehouse of alternatives towards continued pursuit for new drug discovery. Since the inventions are community generated, the new chemical entities developed by Open Source Drug Discovery will be taken up for clinical trial in a non-exclusive manner by participation of multiple companies with majority funding from Open Source Drug Discovery. This will ensure availability of drugs through a lower cost community driven drug discovery process for diseases afflicting people with poor paying capacity. Hopefully what LINUX the World Wide Web have done for the information technology, Open Source Drug Discovery will do for drug discovery. (C) 2011 Elsevier Ltd. All rights reserved.

Extrinsic Analog Synthesis using Piecewise Linear Current-Mode Circuits

A methodology is presented for the synthesis of analog circuits using piecewise linear (PWL) approximations. The function to be synthesized is divided into PWL segments such that each segment can be realized using elementary MOS current-mode programmable-gain circuits. A number of these elementary current-mode circuits when connected in parallel, it is possible to realize piecewise linear approximation of any arbitrary analog function with in the allowed approximation error bounds. Simulation results show a close agreement between the desired function and the synthesized output. The number of PWL segments used for approximation and hence the circuit area is determined by the required accuracy and the smoothness of the resulting function.