Buy-and-Hold Strategies and Comonotonic Approximations

[cat] En aquest article estudiem estratègies “comprar i mantenir” per a problemes d’optimitzar la riquesa final en un context multi-període. Com que la riquesa final és una suma de variables aleatòries dependents, on cadascuna d’aquestes correspon a una quantitat de capital que s’ha invertit en un actiu particular en una data determinada, en primer lloc considerem aproximacions que redueixen l’aleatorietat multivariant al cas univariant. A continuació, aquestes aproximacions es fan servir per determinar les estratègies “comprar i mantenir” que optimitzen, per a un nivell de probabilitat donat, el VaR i el CLTE de la funció de distribució de la riquesa final. Aquest article complementa el treball de Dhaene et al. (2005), on es van considerar estratègies de reequilibri constant.

A note on the coincidence between Stackelberg and Nash equilibria in a differential game between government and firms

[cat] A Navas i Marín Solano es va demostrar la coincidència entre els equilibris de Nash i de Stackelberg per a una versi´o modificada del joc diferencial proposat por Lancaster (1973). Amb l’objectiu d’obtenir una solució interior, es van imposar restriccions importants sobre el valors dels paràmetres del model. En aquest treball estenem aquest resultat, en el límit en que la taxa de descompte és igual a zero, eliminant les restriccions i considerant totes les solucions possibles.

Symmetrically multilateral-bargained allocations in multi-sided assignment markets

[cat] Aquest treball tracta d’extendre la noció d’equilibri simètric de negociació bilateral introduït per Rochford (1983) a jocs d’assignació multilateral. Un pagament corresponent a un equilibri simètric de negociación multilateral (SMB) és una imputación del core que garanteix que qualsevol agent es troba en equilibri respecte a un procés de negociación entre tots els agents basat en allò que cadascun d’ells podria rebre -i fer servir com a amenaça- en un ’matching’ òptim diferent al que s’ha format. Es prova que, en el cas de jocs d’assignació multilaterals, el conjunt de SMB és sempre no buit i que, a diferència del cas bilateral, no sempre coincideix amb el kernel (Davis and Maschler, 1965). Finalment, responem una pregunta oberta per Rochford (1982) tot introduïnt un conjunt basat en la idea de kernel, que, conjuntament amb el core, ens permet caracteritzar el conjunt de SMB.

Géopatrimoines des trois Chablais. Identification et valorisation des témoins glaciaires

Cette recherche s'applique aux témoins glaciaires des Chablais dans quatre de leurs dimensions : géopatrimoine, connaissance objective, inventaire de géosites et valorisation. Elle est organisée sur le canevas d'un processus de patrimonialisation auquel elle participe et qu'elle interroge à la fois. En 2009, débutait le projet 123 Chablais, pour une durée de quatre ans. Il concernait l'ensemble du territoire chablaisien, réparti sur deux pays (France et Suisse) et trois entités administratives (département de la Haute-Savoie, cantons de Vaud et du Valais). Ce projet, élaboré dans le cadre du programme Interreg IV France-Suisse, avait pour but de dynamiser le développement économique local en s'appuyant sur les patrimoines régionaux. Le géopatrimoine, identifié comme une de ces ressources, faisait donc l'objet de plusieurs actions, dont cette recherche. En parallèle, le Chablais haut-savoyard préparait sa candidature pour rejoindre l'European Geopark Network (EGN). Son intégration, effective dès 2012, a fait de ce territoire le cinquième géoparc français du réseau. Le Geopark du Chablais fonde son identité géologique sur l'eau et la glace, deux thématiques intimement liées aux témoins glaciaires. Dans ce contexte d'intérêt pour le géopatrimoine local et en particulier pour le patrimoine glaciaire, plusieurs missions ont été assignées à cette recherche qui devait à la fois améliorer la connaissance objective des témoins glaciaires, inventorier les géosites glaciaires et valoriser le patrimoine glaciaire. Le premier objectif de ce travail était d'acquérir une vision synthétique des témoins glaciaires. Il a nécessité une étape de synthèse bibliographique ainsi que sa spatialisation, afin d'identifier les lacunes de connaissance et la façon dont ce travail pouvait contribuer à les combler. Sur cette base, plusieurs méthodes ont été mises en oeuvre : cartographie géomorphologique, reconstitution des lignes d'équilibre glaciaires et datations de blocs erratiques à l'aide des isotopes cosmogéniques produits in situ. Les cartes géomorphologiques ont été élaborées en particulier dans les cirques et vallons glaciaires. Les datations cosmogéniques ont été concentrées sur deux stades du glacier du Rhône : le Last Local Glacial Maximum (LLGM) et le stade de Monthey. Au terme de cette étape, les spécificités du patrimoine glaciaire régional se sont révélées être 1) une grande diversité de formes et des liens étroits avec différents autres processus géomorphologiques ; 2) une appartenance des témoins glaciaires à dix grandes étapes de la déglaciation du bassin lémanique. Le second objectif était centré sur le processus d'inventaire des géosites glaciaires. Nous avons mis l'accent sur la sélection du géopatrimoine en développant une approche basée sur deux axes (temps et espace) identifiés dans le volet précédent et avons ainsi réalisé un inventaire à thèmes, composé de 32 géosites. La structure de l'inventaire a également été explorée de façon à intégrer des critères d'usage de ces géosites. Cette démarche, soutenue par une réflexion sur les valeurs attribuées au géopatrimoine et sur la façon d'évaluer ces valeurs, nous a permis de mettre en évidence le point de vue anthropo - et scientifico - centré qui prévaut nettement dans la recherche européenne sur le géopatrimoine. L'analyse des résultats de l'inventaire a fait apparaître quelques caractéristiques du patrimoine glaciaire chablaisien, discret, diversifié, et comportant deux spécificités exploitables dans le cadre d'une médiation scientifique : son statut de « berceau de la théorie glaciaire » et ses liens étroits avec des activités de la vie quotidienne, en tant que matière première, support de loisir ou facteur de risque. Cette recherche a débouché sur l'élaboration d'une exposition itinérante sur le patrimoine glaciaire des Chablais. Ce produit de valorisation géotouristique a été conçu pour sensibiliser la population locale à l'impact des glaciers sur son territoire. Il présente une série de sept cartes de stades glaciaires, encadrées par les deux mêmes thématiques, l'histoire de la connaissance glaciaire d'une part, les témoins glaciaires et la société, d'autre part. -- This research focuses on glacial witnesses in the Chablais area according to four dimensions : geoheritage, objective knowledge, inventory and promotion of geosites. It is organized on the model of an heritage's process which it participates and that it questions both. In 2009, the project 123 Chablais started for a period of four years. It covered the entire chablaisien territory spread over two countries and three administrative entities (département of Haute-Savoie, canton of Vaud, canton of Valais). This project, developed in the framework of the Interreg IV France-Switzerland program, aimed to boost the local development through regional heritage. The geoheritage identified as one of these resources, was therefore the subject of several actions, including this research. In parallel, the French Chablais was preparing its application to join the European Geopark Network (EGN). Its integration, effective since 2012, made of this area the fifth French Geopark of the network. The Chablais Geopark geological identity was based on water and ice, two themes closely linked to the glacial witnesses. In this context of interest for the regional geoheritage and especially for the glacial heritage, several missions have been assigned to this research which should improve objective knowledge of glacial witnesses, inventory and assess glacial geosites. The objective knowledge's component was to acquire a synthetic vision of the glacial witnesses. It required a first bibliography synthesis step in order to identify gaps in knowledge and how this work could help to fill them. On this basis, several methods have been implemented: geomorphological mapping, reconstruction of the equilibrium-line altitude and dating of glacial erratic blocks using cosmogenic isotopes produced in situ. Geomorphological maps have been developed especially in glacial cirques and valleys. Cosmogenic datings were concentrated on two stages of the Rhone glacier: the Last Local Glacial Maximum (LLGM) and « the stage of Monthey ». After this step, the specificities of the regional glacial heritage have emerged to us as 1) a wide variety of forms and links to various other geomorphological processes; 2) belonging of glacial witnesses to ten major glacial stages of Léman Lake's deglaciation. In the inventory of glacial geosites component we focused on the selection of geoheritage. We developed an approach based on two axes (time and space) identified in the preceding components. We obtained a thematic inventory, consisting of 32 geosites. The structure of the inventory was also explored in the aim to integrate use criteria of geosites. This approach, supported by a thought on the values attributed to the geoheritage and how to assess these values allowed us to highlight the point of view much anthropological - and scientific -centered prevailing in the European research on geoheritage. The analysis of the inventory's results revealed some characteristics of chablaisien glacial heritage, discrete, diverse, and with two features exploitable in the context of a scientific mediation: its status as « cradle of the glacial theory » and its close links with activities of daily life, as raw material, leisure support and risk factor. This research leads to the development of a traveling exhibition on the glacial heritage of the Chablais area. It presents a series of seven glacial stage's cards, framed by the two themes mentioned above: « history of glacial knowledge » and « glacial witnesses and society ».

X-ray photoelectron spectroscopy of oxygen adsorbates on Al(111): Theory experiment

We present the result of polar angle resolved x¿ray photoemission spectroscopy on Al(111)/O and cluster calculations of the O(1s) binding energy (BE) for various model situations. In the experimental data two O(1s) peaks are observed, separated by 1.3 eV. The angular behavior (depth¿resolution) could indicate that the lower BE peak is associated with an O atom under the surface, and the higher BE peak with an O atom above the surface. Equally, it could indicate oxygen islands on the surface where the perimeter atoms have a higher O(1s) BE than the interior atoms. The cluster calculations show that the former interpretation cannot be correct, since an O ads below the surface has a higher calculated O(1s) BE than one above. Cluster calculations simulating oxygen islands are, however, consistent with the experimental data.

Chemisorption of group-III metals on the Si(111) and Ge(111) surfaces: An ab initio study

Chemisorption of group-III metal adatoms on Si(111) and Ge(111) has been studied through the ab initio Hartree-Fock method including nonempirical pseudopotentials and using cluster models to simulate the surface. Three different high-symmetry sites (atop, eclipsed, and open) have been considered by using X4H9, X4H7, and X6H9 (X=Si,Ge) cluster models. In a first step, ideal surface geometries have been used. Metal-induced reconstruction upon chemisorption has also been taken into account. Equilibrium distances, binding energies, and vibrational frequencies have been obtained and compared with available experimental data. From binding-energy considerations, the atop and eclipsed sites seem to be the most favorable ones and thus a coadsorption picture may be suggested. Group-III metals exhibit a similar behavior and the same is true for Si(111) and Ge(111) surfaces when chemisorption is considered.

Evidence for oxygen-island formation on Al(111): Cluster-model theory and x-ray photoelectron spectroscopy

The O 1s x-ray photoelectron spectroscopy spectrum for Al(111)/O at 300 K shows two components whose behavior as a function of time and variation of detection angle are consistent with either (a) a surface species represented by the higher binding-energy (BE) component and a subsurface species represented by the lower BE component, or (b) small close-packed oxygen islands with the interior atoms represented by the lower BE component and the perimeter atoms by the higher BE component. We have modeled both situations using ab initio Hartree-Fock wave functions for clusters of Al and O atoms. For an O atom in a threefold site, it was found that a below-surface position gave a higher O 1s BE than an above-surface position, incompatible with interpretation (a). This change in the O 1s BE could arise because the bond for O to Al may have a more covalent character when the O is below the surface than when it is above the surface. We present evidence consistent with this view. An O adatom island with all the O atoms in threefold sites gives calculated O 1s BE's which are significantly higher for the perimeter O atoms. Further, the results for an isolated O island without the Al substrate present also give higher BE¿s for the perimeter atoms. Both these results are consistent with interpretation (b). Published scanning-tunneling-microscopy data supports the suggestion that the chemisorbed state consists of small, close-packed islands, whereas the presence of two vibrational modes in high-resolution electron-energy-loss spectroscopy data has been interpreted as representing surface and subsurface oxygen atoms. In light of the present results, we suggest that a vibrational interpretation in terms of interior and perimeter adatoms should be considered.

Extent and limitations of density functional theory in describing magnetic systems

The performance of density-functional theory to solve the exact, nonrelativistic, many-electron problem for magnetic systems has been explored in a new implementation imposing space and spin symmetry constraints, as in ab initio wave function theory. Calculations on selected systems representative of organic diradicals, molecular magnets and antiferromagnetic solids carried out with and without these constraints lead to contradictory results, which provide numerical illustration on this usually obviated problem. It is concluded that the present exchange-correlation functionals provide reasonable numerical results although for the wrong physical reasons, thus evidencing the need for continued search for more accurate expressions.

Electronic and magnetic structure of LaMnO3 from hybrid periodic density-functional theory

The electronic and magnetic structures of the LaMnO3 compound have been studied by means of periodic calculations within the framework of spin polarized hybrid density-functional theory. In order to quantify the role of approximations to electronic exchange and correlation three different hybrid functionals have been used which mix nonlocal Fock and local Dirac-Slater exchange. Periodic Hartree-Fock results are also reported for comparative purposes. The A-antiferromagnetic ground state is properly predicted by all methods including Hartree-Fock exchange. In general, the different hybrid methods provide a rather accurate description of the band gap and of the two magnetic coupling constants, strongly suggesting that the corresponding description of the electronic structure is also accurate. An important conclusion emerging from this study is that the nature of the occupied states near the Fermi level is intermediate between the Hartree-Fock and local density approximation descriptions with a comparable participation of both Mn and O states.

Antiferromagnetic exchange interactions from hybrid density functional theory

A hybrid theory which combines the full nonlocal ¿exact¿ exchange interaction with the local spin-density approximation of density-functional theory is shown to lead to marked improvement in the description of antiferromagnetically coupled systems. Semiquantitative agreement with experiment is found for the magnitude of the coupling constant in La2CuO4, KNiF3, and K2NiF4. The magnitude of the unpaired spin population on the metal site is in excellent agreement with experiment for La2CuO4.

Extent and limitations of density functional theory in describing magnetic systems

The performance of density-functional theory to solve the exact, nonrelativistic, many-electron problem for magnetic systems has been explored in a new implementation imposing space and spin symmetry constraints, as in ab initio wave function theory. Calculations on selected systems representative of organic diradicals, molecular magnets and antiferromagnetic solids carried out with and without these constraints lead to contradictory results, which provide numerical illustration on this usually obviated problem. It is concluded that the present exchange-correlation functionals provide reasonable numerical results although for the wrong physical reasons, thus evidencing the need for continued search for more accurate expressions.

Functional responses and heterogeneities: an experimental test with cladocerans

The functional response of predators is usually modelled as a function of absolute prey density. Arditi and Ginzburg have suggested that it should often depend instead on the prey available per capita of predators, i.e. on the prey/predator ratio. Theory suggests that these two forms of dependence are related to the degree of spatial and temporal heterogeneity. Experiments using four filter-feeding cladoceran species were designed to test this hypothesis and to investigate the relation between individual behaviour and population dynamics. The patterns of population abundance that the cladocerans reached at equilibrium match the expectation that species with homogeneous spatial behaviour follow prey-dependent dynamics while those with heterogeneous behaviour follow ratio-dependent dynamics.

Building a Social Accounting Matrix within the ESA95 Framework: Obtaining a Dataset for Applied General Equilibrium Modelling

This research provides a description of the process followed in order to assemble a "Social Accounting Matrix" for Spain corresponding to the year 2000 (SAMSP00). As argued in the paper, this process attempts to reconcile ESA95 conventions with requirements of applied general equilibrium modelling. Particularly, problems related to the level of aggregation of net taxation data, and to the valuation system used for expressing the monetary value of input-output transactions have deserved special attention. Since the adoption of ESA95 conventions, input-output transactions have been preferably valued at basic prices, which impose additional difficulties on modellers interested in computing applied general equilibrium models. This paper addresses these difficulties by developing a procedure that allows SAM-builders to change the valuation system of input-output transactions conveniently. In addition, this procedure produces new data related to net taxation information.