On low-dimensional projections of high-dimensional distributions

Let P be a probability distribution on q -dimensional space. The so-called Diaconis-Freedman effect means that for a fixed dimension d<

Stochastic search for semiparametric linear regression models

This paper introduces and analyzes a stochastic search method for parameter estimation in linear regression models in the spirit of Beran and Millar [Ann. Statist. 15(3) (1987) 1131–1154]. The idea is to generate a random finite subset of a parameter space which will automatically contain points which are very close to an unknown true parameter. The motivation for this procedure comes from recent work of Dümbgen et al. [Ann. Statist. 39(2) (2011) 702–730] on regression models with log-concave error distributions.

Multiasset Derivatives and Joint Distributions of Asset Prices

Several of multiasset derivatives like basket options or options on the weighted maximum of assets exhibit the property that their prices determine uniquely the underlying asset distribution. Related to that the question how to retrieve this distributions from the corresponding derivatives quotes will be discussed. On the contrary, the prices of exchange options do not uniquely determine the underlying distributions of asset prices and the extent of this non-uniqueness can be characterised. The discussion is related to a geometric interpretation of multiasset derivatives as support functions of convex sets. Following this, various symmetry properties for basket, maximum and exchange options are discussed alongside with their geometric interpretations and some decomposition results for more general payoff functions.

A Stieltjes approach to static hedges

Static hedging of complicated payoff structures by standard instruments becomes increasingly popular in finance. The classical approach is developed for quite regular functions, while for less regular cases, generalized functions and approximation arguments are used. In this note, we discuss the regularity conditions in the classical decomposition formula due to P. Carr and D. Madan (in Jarrow ed, Volatility, pp. 417–427, Risk Publ., London, 1998) if the integrals in this formula are interpreted as Lebesgue integrals with respect to the Lebesgue measure. Furthermore, we show that if we replace these integrals by Lebesgue–Stieltjes integrals, the family of representable functions can be extended considerably with a direct approach.

Extraction of the s-wave pi N scattering lengths from data on pionic atoms

For many years a combined analysis of pionic hydrogen and deuterium atoms has been known as a good tool to extract information on the isovector and especially on the isoscalar s-wave pN scattering length. However, given the smallness of the isoscalar scattering length, the analysis becomes useful only if the pion–deuteron scattering length is controlled theoretically to a high accuracy comparable to the experimental precision. To achieve the required few-percent accuracy one needs theoretical control over all isospin-conserving three-body pNN !pNN operators up to one order before the contribution of the dominant unknown (N†N)2pp contact term. This term appears at next-to-next-to-leading order in Weinberg counting. In addition, one needs to include isospin-violating effects in both two-body (pN) and three-body (pNN) operators. In this talk we discuss the results of the recent analysis where these isospin-conserving and -violating effects have been carefully taken into account. Based on this analysis, we present the up-to-date values of the s-wave pN scattering lengths.

Isospin breaking in pion–deuteron scattering and the pion–nucleon scattering lengths

In recent years, high-accuracy data for pionic hydrogen and deuterium have become the primary source of information on the pion–nucleon scattering lengths. Matching the experimental precision requires, in particular, the study of isospin-breaking corrections both in pion– nucleon and pion–deuteron scattering. We review the mechanisms that lead to the cancellation of potentially enhanced virtual-photon corrections in the pion–deuteron system, and discuss the subtleties regarding the definition of the pion–nucleon scattering lengths in the presence of electromagnetic interactions by comparing to nucleon–nucleon scattering. Based on the p±p channels we find for the virtual-photon-subtracted scattering lengths in the isospin basis a1/2/ g= (170.5±2.0) · 10−3M−1p and a3/2/ g= (−86.5±1.8) · 10−3M−1p .

Internationale Schiedsgerichtsbarkeit der Schweiz: vom Forum running zum judgment running?

Zum 65. Geburtstag von Prof. Dr. iur. et lic. oec. Heinrich Koller, haben über 40 Mitarbeiterinnen und Mitarbeiter des Bundesamtes für Justiz (BJ) eine Festschrift für ihren scheidenden Direktor verfasst. Die in deutscher und französischer Sprache verfassten Beiträge spiegeln das breite Spektrum einer Institution, aus deren «atelier» manch ein Gesetzesentwurf stammt. Oft übersehen wird dabei, dass das BJ aber auch eine «Werkstatt» ist, die das geltende Recht umsetzt und im Rahmen dieser Konkretisierung wichtige Akzente setzt. Die Festschrift bietet damit einen Blick hinter die Kulissen eines wichtigen Kompetenzzentrums für Rechtsfragen und beleuchtet aktuelle Probleme aus «erster Hand». Abgerundet wird die Festschrift mit einem Grusswort des Vorstehers EJPD (Bundesrat Christoph Blocher) und einem Schriftenverzeichnis von Heinrich Koller. Enthalten ist unter Anderem - die Bundesverfassung - weitere wichtige Gesetze und Verordnungen aus dem öffentlichen Recht - ZGB und Nebenerlasse - OR und Nebenerlasse - Erlasse zum Strafrecht und zur Strafrechtspflege - Gesetze zu Gesundheit, Arbeit und sozialer Sicherheit - wichtige Gesetze zu Wirtschaft und Kredit Autorinnen und Autoren Mitarbeiterinnen und Mitarbeiter des Bundesamtes für Justiz

Drittschuldners Dilemma

"Die alten Rechte, wie wir sie ererbt von unsern Vätern, wollen wir bewahren, nicht ungezügelt nach dem Neuen greifen" (Schiller). In Zeiten des Umbruchs, wie sie im Zivilprozess bevorstehen, gilt es, das Neue gekonnt mit dem Bewährten zu verweben. Der vorliegende Band vereinigt 27 Beiträge, die in freier Form den Dialog über aktuelle Fragen des Zivil-, Schiedsverfahrens- und Vollstreckungsrechts aufnehmen. Freunde, Bekannte und Fachkollegen gratulieren damit dem Mitverfasser des Kommentars zur Zivilprozessordnung für den Kanton Bern zum 65. Geburtstag.