As we mark the centenary of Albert Einstein’s seminal contribution to both quantum mechanics and special relativity, we approach another anniversary — that of Einstein’s foundation of the quantum theory of solids. But 100 years on, the same experimental measurement that puzzled Einstein and his contemporaries is forcing us to question our understanding of how quantum matter transforms at ultra-...

Estimation of a consistent volatility model of the underlying is crucial for option hedging. The authors illustrate that, compared to the implied/constant volatility method, a local volatility function method can estimate the underlying volatility from option prices more consistently. The result is more accurate hedge parameters and smaller hedging errors. The evidence provided includes an exam...

The Coleman-Weinberg mechanism provides a procedure by which scalar field, initially has no mass parameters, acquires due to the anomalous nature of scale symmetry. Loop corrections trigger spontaneous symmetry breaking and appearance non-trivial vacuum. We first review basic example ColemanWeinberg mechanism, Quantum Electrodynamics, in perturbative regime where particle becomes massive throug...