We conjecture that space-like singularities are simply regions in which all available degrees of freedom are excited, and the system cycles randomly through generic quantum states in its Hilbert space. There is no simple geometric description of the interior of such a region, but if it is embedded in a semi-classical space-time an external observer sees it as a black hole. Big Bang and Crunch s...

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We examine the effect of credit default swaps (CDSs) on the restructuring of distressed firms. Theoretically, we show that if bondholders are insured with CDSs, the participation rate in a restructuring decreases. Using a sample of distressed exchange offers, we estimate that the participation rate is 29% lower if the firm has CDSs traded on its debt, compared to an unconditional mean of 54%. W...

A coupling is a mechanism that transmits operative power between two shafts are revolving at different speeds. connects their ends and can slip or fail depending on the torque limit. It an essential component of any transmission system may survive for very long time if properly designed maintained. This study's current research, newly developed optimization algorithms used to minimize volume co...

We study numerically the inhomogeneous pre-big-bang inflation in a spherically symmetric space-time. We find that a large initial inhomogeneity suppresses the onset of the pre-big-bang inflation. We also find that even if the pre-big-bang inflationary stage is realized, the initial inhomogeneities are not homogenized. Namely, during the pre-big-bang inflation “hairs”(irregularities) do not fall...