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In the econometrics of financial time series, it is customary to take some parametric model for the data, and then estimate the parameters from historical data. This approach suffers from several problems. Firstly, how is estimation error to be quantified, and then taken into account when making statements about the future behaviour of the observed time series? Secondly, decisions may be taken today committing to future actions over some quite long horizon, as in the trading of derivatives; if the model is re-estimated at some intermediate time, our earlier decisions would need to be revised - but the derivative has already been traded at the earlier price. Thirdly, the exact form of the parametric model to be used is generally taken as given at the outset; other competitor models might possibly work better in some circumstances, but the methodology does not allow them to be factored into the inference. What we propose here is a very simple (Bayesian) alternative approach to inference and action in financial econometrics which deals decisively with all these issues. The key feature is that nothing is being estimated.
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Measurement is integral to quantum information processing and communication; it is how information encoded in the state of a system is transformed into classical signals for further use. In quantum optics, measurements are typically destructive, so that the state is not available afterwards for further steps - crucial for sequential measurement schemes. The development of practical methods for non-destructive measurements on optical fields is therefore an important topic for future practical quantum information processing systems. Here we show how to measure the presence or absence of the vacuum in a quantum optical field without destroying the state, implementing the ideal projections onto the respective subspaces. This not only enables sequential measurements, useful for quantum communication, but it can also be adapted to create novel states of light via bare raising and lowering operators.
Within the framework of flux compactifications, we construct an instanton describing the quantum creation of an open universe from nothing. The solution has many features in common with the smooth 6d bubble of nothing solutions discussed recently, where the spacetime is described by a 4d compactification of a 6d Einstein-Maxwell theory on S^2 stabilized by flux. The four-dimensional description of this instanton reduces to that of Hawking and Turok. The choice of parameters uniquely determines all future evolution, which we additionally find to be stable against bubble of nothing instabilities.
Theories with compact extra dimensions are sometimes unstable to decay into a bubble of nothing -- an instability resulting in the destruction of spacetime. We investigate the existence of these bubbles in theories where the moduli fields that set the size of the extra dimensions are stabilized at a positive vacuum energy -- a necessary ingredient of any theory that aspires to describe the real world. Using bottom-up methods, and focusing on a five-dimensional toy model, we show that four-dimensional de Sitter vacua admit bubbles of nothing for a wide class of stabilizing potentials. We show that, unlike ordinary Coleman-De Luccia tunneling, the corresponding decay rate remains non-zero in the limit of vanishing vacuum energy. Potential implications include a lower bound on the size of compactified dimensions.
We study quantum key distribution with standard weak coherent states and show, rather counter-intuitively, that the detection events originated from vacua can contribute to secure key generation rate, over and above the best prior art result. Our proof is based on a communication complexity/quantum memory argument.
A new standpoint on financial time series, without the use of any mathematical model and of probabilistic tools, yields not only a rigorous approach of trends and volatility, but also efficient calculations which were already successfully applied in automatic control and in signal processing. It is based on a theorem due to P. Cartier and Y. Perrin, which was published in 1995. The above results are employed for sketching a dynamical portfolio and strategy management, without any global optimization technique. Numerous computer simulations are presented.
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