We consider the sums $S_n=xi_1+cdots+xi_n$ of independent identically distributed random variables. We do not assume that the $xi$s have a finite mean. Under subexponential type conditions on distribution of the summands, we find the asymptotics of t
he probability ${bf P}{M>x}$ as $xtoinfty$, provided that $M=sup{S_n, nge1}$ is a proper random variable. Special attention is paid to the case of tails which are regularly varying at infinity. We provide some sufficient conditions for the integrated weighted tail distribution to be subexponential. We supplement these conditions by a number of examples which cover both the infinite- and the finite-mean cases. In particular, we show that subexponentiality of distribution $F$ does not imply subexponentiality of its integrated tail distribution $F^I$.
We analyze the interference between tunneling paths that occurs for a spin system with both fourth-order and second-order transverse anisotropy. Using an instanton approach, we find that as the strength of the second-order transverse anisotropy is in
creased, the tunnel splitting is modulated, with zeros occurring periodically. This effect results from the interference of four tunneling paths connecting easy-axis spin orientations and occurs in the absence of any magnetic field.
