Viewed at a distance and with scholarly detachment, financial innovation is simple process. Some kind of “shock”—say, sudden increase in interest rates volatility or significant regulatory change – introduced into the economic system. The shock alters preferences either investors issuers such way that there then exists no instrument capable satisfying newly-created demand. Observing unsatisfied...

The serendipitous discovery of red sprites by the late Prof. Jack Winckler, while testing a low-light television camera (LLTV) for a sounding rocket mission in 1989, changed forever our view of the middle atmosphere (Franz et al. 1990). Once thought to be dynamically and electrically quiescent, the stratosphere and mesosphere are increasingly understood to be regions of intense gravity waves (m...

We prove the rather counterintuitive result that there exist finite transitive graphs H and integers k such Free Uniform Spanning Forest in direct product of k-regular tree has infinitely many trees almost surely. This shows number FUSF is not a quasi-isometry invariant. Moreover, we give two different Cayley same virtually free group one, but connected other, answering question Lyons Peres (Pr...

And again?" In the begining of October, prices for the. first time showed symptoms of retrograding, and as the produce of the harvest became available to fall, the plentiful rains gave promise of a good spring crop, there was ample occupation for all classes of tho community, and prospects were everywhere brightening, when tho country was called upon to undergo its last aud, perhaps, its severe...

where 0 ≤ s ≤ t ≤ 1 and ⊗ denotes a tensor product. Lyons [17] proved that solutions of stochastic differential equations (SDEs) are continuous functions of the Brownian rough path w(s, t) = ( w(s, t)1, w(s, t)2). We give a precise definition of the Brownian rough path in the next section; see also [18] and [15]. The discontinuity of solutions of SDEs in the uniform convergence topology of w ca...

Social comparison theory offers an understanding of the effect of deinstitutionalisation on the development of self-concept for people with intellectual disabilities (Finlay & Lyons, 2000). Social comparison theory predicts that people with intellectual disabilities living in the community will make comparisons with nondisabled groups and as such their self-concept will decrease because of nega...