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The Advanced Composition Explorer Mission
NASA's Advanced Composition Explorer (ACE) was launched on August 25, 1997, carrying six high-resolution spectrometers that measure the abundances of the elements, isotopes, and ionic charge states of energetic nuclei in space. Data from these instruments is being used to measure and compare the composition of the solar corona, the nearby interstellar medium, and cosmic-ray sources in the Galaxy, and to study particle acceleration processes in a variety of environments. ACE also includes three instruments that monitor solar wind and energetic particle activity near the inner Lagrangian point, "1.5 million kilometers sunward of Earth, and provide continuous, real-time data to NOAA for use in forecasting space weather. Eleven of the articles in this volume review scientific progress and outline questions that ACE will address in solar, space-plasma, and cosmic-ray physics. Other articles describe the ACE spacecraft, the real-time solar-wind system, and the instruments used to measure energetic particle composition.
A Game Theory Analysis of Options
Modern option pricing theory was developed in the late sixties and early seventies by F. Black, R. e. Merton and M. Scholes as an analytical tool for pricing and hedging option contracts and over-the-counter warrants. How ever, already in the seminal paper by Black and Scholes, the applicability of the model was regarded as much broader. In the second part of their paper, the authors demonstrated that a levered firm's equity can be regarded as an option on the value of the firm, and thus can be priced by option valuation techniques. A year later, Merton showed how the default risk structure of cor porate bonds can be determined by option pricing techniques. Option pricing models are now used...
A Game Theory Analysis of Options
Modem option pricing theory was developed in the late sixties and early seventies by F. Black, R. C. Merton and M. Scholes as an analytical tool for pricing and hedging option contracts and over-the-counter warrants. However, already in the seminal paper by Black and Scholes, the applicability of the model was regarded as much broader. In the second part of their paper, the authors demonstrated that a levered firm's equity can be regarded as an option on the value of the firm, and thus can be priced by option valuation techniques. A year later, Merton showed how the default risk structure of corporate bonds can be determined by option pricing techniques. Option pricing models are now used to...
Incomplete Information and Heterogeneous Beliefs in Continuous-time Finance
After a brief review of the existing incomplete information literature, the effect of incomplete information on investors' exptected utility, risky asset prices, and interest rates is described. It is demonstrated that increasing the quality of investors' information need not increase their expected utility and the prices of risky assets. The impact of other factors is discussed in detail. It is also demonstrated that financial markets in general do not aggregate information efficiently, a fact that can explain the equity premium puzzle.
Solar Composition and its Evolution — from Core to Corona
The discovery of chemical elements in celestial bodies and the first estimates of the chemical composition of the solar atmosphere were early results of Astrophysics - the subdiscipline of Astronomy that was originally concerned with the general laws of radiation and with spectroscopy. Following the initial quantitative abundance studies by Henry Norris Russell and by Cecilia Payne-Gaposchkin, a tremendous amount of theoretical, observa tional, laboratory and computational work led to a steadily improving body of knowledge of photospheric abundances - a body of knowledge that served to guide the theory of stellar evolution. Solar abundances determined from photospheric spectra, together with...
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Gregory Palamas and the Making of Palamism in the Modern Age
This study presents a new perspective on an important fourteenth-century Greek theologian, Gregory Palamas.
