Towards a theory of the credit-risk balance sheet (II). The evolution of its structure

This article has an immediate predecessor, upon which it is based and with which readers must necessarily be familiar: Towards a Theory of the Credit-Risk Balance Sheet (Vallverdú, Somoza and Moya, 2006). The Balance Sheet is conceptualised on the basis of the duality of a credit-based transaction; it deals with its theoretical foundations, providing evidence of a causal credit-risk duality, that is, a true causal relationship; its characteristics, properties and its static and dynamic characteristics are analyzed. This article, which provides a logical continuation to the previous one, studies the evolution of the structure of the Credit-Risk Balance Sheet as a consequence of a business¿s dynamics in the credit area. Given the Credit-Risk Balance Sheet of a company at any given time, it attempts to estimate, by means of sequential analysis, its structural evolution, showing its usefulness in the management and control of credit and risk. To do this, it bases itself, with the necessary adaptations, on the by-now classic works of Palomba and Cutolo. The establishment of the corresponding transformation matrices allows one to move from an initial balance sheet structure to a final, future one, to understand its credit-risk situation trends, as well as to make possible its monitoring and control, basic elements in providing support for risk management.

Pluralité des corps. 3. Les corps liés [Multifaceted body. 3. The contextualised body].

Le corps humain est l'objet privilégié d'action de la médecine, mais aussi réalité vécue, image, symbole, représentation et l'objet d'interprétation et de théorisation. Tous ces éléments constitutifs du corps influencent la façon dont la médecine le traite. Dans cette série de trois articles, nous abordons le corps sous différentes perspectives : médicale (1), phénoménologique (2), psychosomatique et socio-anthropologique (3). Ce troisième et dernier article traite successivement des approches psychosomatiques et socio-anthropologiques du corps et de certains de leurs apports respectifs. The human body is the object upon which medicine is acting, but also lived reality, image, symbol, representation and the object of elaboration and theory. All these elements which constitute the body influence the way medicine is treating it. In this series of three articles, we address the human body from various perspectives: medical (1), phenomenological (2), psychosomatic and socio-anthropological (3). This third and last article focuses on the psychosomatic and socio-anthropological facets of the body and their contribution to its understanding.

Ruin Theory with Excess of Loss Reinsurance and Reinstatements

The present paper studies the probability of ruin of an insurer, if excess of loss reinsurance with reinstatements is applied. In the setting of the classical Cramer-Lundberg risk model, piecewise deterministic Markov processes are used to describe the free surplus process in this more general situation. It is shown that the finite-time ruin probability is both the solution of a partial integro-differential equation and the fixed point of a contractive integral operator. We exploit the latter representation to develop and implement a recursive algorithm for numerical approximation of the ruin probability that involves high-dimensional integration. Furthermore we study the behavior of the finite-time ruin probability under various levels of initial surplus and security loadings and compare the efficiency of the numerical algorithm with the computational alternative of stochastic simulation of the risk process. (C) 2011 Elsevier Inc. All rights reserved.

Auction theory, sequential local service privatization, and the effects of geographical scale economies on effective competition

A sequential weakly efficient two-auction game with entry costs, interdependence between objects, two potential bidders and IPV assumption is presented here in order to give some theoretical predictions on the effects of geographical scale economies on local service privatization performance. It is shown that the first object seller takes profit of this interdependence. The interdependence externality rises effective competition for the first object, expressed as the probability of having more than one final bidder. Besides, if there is more than one final bidder in the first auction, seller extracts the entire bidder¿s expected future surplus differential between having won the first auction and having lost. Consequences for second object seller are less clear, reflecting the contradictory nature of the two main effects of object interdependence. On the one hand, first auction winner becomes ¿stronger¿, so that expected payments rise in a competitive environment. On the other hand, first auction loser becomes relatively ¿weaker¿, hence (probably) reducing effective competition for the second object. Additionally, some contributions to static auction theory with entry cost and asymmetric bidders are presented in the appendix

Modeling water movement in horizontal columns using fractal theory

Fractal mathematics has been used to characterize water and solute transport in porous media and also to characterize and simulate porous media properties. The objective of this study was to evaluate the correlation between the soil infiltration parameters sorptivity (S) and time exponent (n) and the parameters dimension (D) and the Hurst exponent (H). For this purpose, ten horizontal columns with pure (either clay or loam) and heterogeneous porous media (clay and loam distributed in layers in the column) were simulated following the distribution of a deterministic Cantor Bar with fractal dimension H" 0.63. Horizontal water infiltration experiments were then simulated using Hydrus 2D software. The sorptivity (S) and time exponent (n) parameters of the Philip equation were estimated for each simulation, using the nonlinear regression procedure of the statistical software package SAS®. Sorptivity increased in the columns with the loam content, which was attributed to the relation of S with the capillary radius. The time exponent estimated by nonlinear regression was found to be less than the traditional value of 0.5. The fractal dimension estimated from the Hurst exponent was 17.5 % lower than the fractal dimension of the Cantor Bar used to generate the columns.

Managérialisation et Etat social : satisfaction et motivation d'intervenants et d'intervenantes socio-éducatives dans des contextes plus ou moins managérialisés

La contribution d'Yves Emery et Julien Niklaus étudie les effets du new managerialism dans le secteur social. Les nouveaux outils de pilotage ont profondément transformé les conditions cadres du travail social, de l'organisation des tâches ainsi que de l'action professionnelle. Les auteurs cherchent à savoir dans quelle mesure ces transformations influencent la motivation et la satisfaction au travail des travailleurs et travailleuses sociales. Ils comparent deux institutions présentant des degrés différents de managérialisation et constatent, avec surprise, une motivation supérieure dans les organisations davantage managérialisées, alors que la satisfaction au travail ne présente pas de différences.

Vertically coupled quantum dots in the local spin-density functional theory

We have investigated the structure of double quantum dots vertically coupled at zero magnetic field within local-spin-density functional theory. The dots are identical and have a finite width, and the whole system is axially symmetric. We first discuss the effect of thickness on the addition spectrum of one single dot. Next we describe the structure of coupled dots as a function of the interdot distance for different electron numbers. Addition spectra, Hund's rule, and molecular-type configurations are discussed. It is shown that self-interaction corrections to the density-functional results do not play a very important role in the calculated addition spectra

Freezing of 4He and its liquid-solid interface from density functional theory

We show that, at high densities, fully variational solutions of solidlike types can be obtained from a density functional formalism originally designed for liquid 4He . Motivated by this finding, we propose an extension of the method that accurately describes the solid phase and the freezing transition of liquid 4He at zero temperature. The density profile of the interface between liquid and the (0001) surface of the 4He crystal is also investigated, and its surface energy evaluated. The interfacial tension is found to be in semiquantitative agreement with experiments and with other microscopic calculations. This opens the possibility to use unbiased density functional (DF) methods to study highly nonhomogeneous systems, like 4He interacting with strongly attractive impurities and/or substrates, or the nucleation of the solid phase in the metastable liquid.

Dire le futur au Moyen Age : du prologue au récit : du Chevalier au Lion de Chrétien de Troyes au Chevalier au Lion de Pierre Sala

S'inscrivant dans le domaine de l'analyse des relations temporelles dans les textes, la présente étude est consacrée à la notion du futur définie en tant qu'anticipation sur les événements à venir dans le récit. Ainsi, la recherche en question se propose de mettre en lumière les différents mécanismes d'anticipation propres aux récits d'aventures au Moyen Âge. Recourant aux moyens heuristiques existants (les bases de la théorie de la réception telle qu'elle est représentée dans les travaux de Jauss, Eco et Greimas), cette thèse se concentre sur l'étude du prologue de l'oeuvre littéraire dont elle élabore une grille de lecture particulière qui tient compte de la complexité de la notion du futur envisagée aux plans grammatical (formes verbales du futur), rhétorique (la figure de la prolepse) et littéraire (les scénarios et les isotopies). La démarche de la lecture détaillée du prologue adoptée au cours de ce travail s'applique d'abord au Chevalier au Lion de Chrétien de Troyes, texte fondateur du corpus, qui constitue, pour parler avec Philippe Walter, un vrai « drame du temps ». L'étude des mécanismes d'anticipation mis en place dans le prologue se prolonge ensuite dans les chapitres consacrés à Claris et Laris et au Chevalier au Lion de Pierre Sala, deux réécritures du célèbre roman du maître champenois. Datant, respectivement, du XIIIe et du début du XVIe siècle, ces oeuvres permettent de saisir le chemin parcouru par le futur dans son aspect thématique et diachronique, ce qui est particulièrement propice au repérage des critères qui influencent l'attente du lecteur par rapport aux événements à venir au fil des siècles. Ainsi, à côté des moyens d'expression « standards » du futur (scénarios intertextuels et isotopies), la présente recherche fait apparaître d'autres facteurs qui influencent l'anticipation, notamment le procédé de la disputatio, le recours à la satire, la démarche de l'engagement indirect et l'opposition vers/prose. La seconde partie de la thèse qui traite, d'un côté, des récits consacrés à la fée Mélusine de Jean d'Arras et de Coudrette, du Livre du Cuer d'amours espris de René d'Anjou de l'autre, sert à vérifier dans quelle mesure la démarche choisie s'applique à des oeuvres du Moyen Âge tardif qui combinent des éléments empruntés à la tradition antérieure avec des éléments d'autre provenance. L'analyse de Mélusine et du Livre du Cuer conduit à ajouter deux facteurs supplémentaires qui influencent l'attente du lecteur, à savoir la démarche de l'engagement partiel et le recours au genre judiciaire. Cette étude démontre que le traitement du futur est d'un enjeu capital pour lire les textes du Moyen Âge, car il permet au lecteur, dès le prologue, de reconnaître la fin vers laquelle tend le récit et de faire par là- même une lecture enrichie, supérieure à d'autres. Telling the Future in the Middle Ages : from the Prologue to the Narrative. From Chrétien de Troyes ' Chevalier au Lion to Pierre Sala 's Chevalier au Lion. Part of the analyses of the time based relations within the texts, the present study deals with the notion of future characterized as an anticipation of the events to come in the narrative. Therefore, the purpose of this research is to bring to light the various mechanisms of anticipation peculiar to the narratives of adventures in the Middle Ages. Making the use of the existing heuristic instruments (the bases of the theory of the reception as it presents itself in the works by Jauss, Eco and Greimas), this thesis is dedicated to the study of the prologue of the work of fiction by means of a particular key for reading which takes into account the complexity of the notion of future with regard to its grammatical side (future tenses), to its rhetorical side (prolepse) and to its literary side (scenario and isotopy). First of all, the close reading of the prologue used in this work is applied to Chrétien de Troyes's Chevalier au Lion (Lion Knight), the founding text of our literary corpus, which represents, according to Philippe Walter, the real « drama of Time ». Then, the study of the mechanisms of anticipation in the prologue is carried over to the chapters devoted to Claris et Laris and to Pierre Sala's Chevalier au Lion, two romances that rewrite Chrétien de Troyes' famous work. Written, respectively, in the XIIIth and in the beginning of the XVI century, these romances enable the reader to ascertain the changes in the manner of telling the future from the thematic and diachronic point of view : this is particularly convenient to the identification of the criteria which influence the reader's expectations relative to the future events in the course of the centuries. Therefore, next to the « standard » means of expression of future (intertextual scenario and isotopy), the present study reveals other factors which influence the anticipation, in particular the method of the disputatio, the use of the satire, the approach of the indirect commitment and the verse/prose opposition. The second part of the thesis which deals with the narratives concerning the fairy Melusine written by Jean d'Arras and by Coudrette on one hand, with René d'Anjou's Livre du Cuer d'amours espris on the other hand, is used to verify to what extent the chosen approach applies to the works of fiction of the Late Middle Ages that combine the elements from the previous tradition with the elements of other origin. The analysis of Melusine's romances and of the Livre du Cuer brings us to add two new factors which influence the reader's expectations : the approach of the partial commitment, and the use of the legal discourse. This study demonstrates that the manner of telling the future is of the utmost importance to read the texts of the Middle Ages, because it enables the reader to know the end of the story from the very beginning, from the prologue, thus leading to a richer and superior reading.

Optical response of two-dimensional few-electron concentric double quantum rings: A local-spin-density-functional theory study

We have investigated the dipole charge- and spin-density response of few-electron two-dimensional concentric nanorings as a function of the intensity of a erpendicularly applied magnetic field. We show that the dipole response displays signatures associated with the localization of electron states in the inner and outer ring favored by the perpendicularly applied magnetic field. Electron localization produces a more fragmented spectrum due to the appearance of additional edge excitations in the inner and outer ring.

Helium in polygonal nanopores at zero temperature: Density functional theory calculations

We investigate adsorption of helium in nanoscopic polygonal pores at zero temperature using a finite-range density functional theory. The adsorption potential is computed by means of a technique denoted as the elementary source method. We analyze a rhombic pore with Cs walls, where we show the existence of multiple interfacial configurations at some linear densities, which correspond to metastable states. Shape transitions and hysterectic loops appear in patterns which are richer and more complex than in a cylindrical tube with the same transverse area.

Variational Wigner-Kirkwood approach to relativistic mean field theory

The recently developed variational Wigner-Kirkwood approach is extended to the relativistic mean field theory for finite nuclei. A numerical application to the calculation of the surface energy coefficient in semi-infinite nuclear matter is presented. The new method is contrasted with the standard density functional theory and the fully quantal approach.