Algebraic Deformations of Polarized Varieties
Let V be a projectively embeddable complete non-singular variety of dimension n > 1. Let f be a projective embedding of V, U a non-singular variety, W a non-singular variety and φ a morphism of W onto U such that φ-1(u0) = f(V) for some point u0 of U. Denote by ∑(V) the set of all those complete non-singular fibres φ-1(u), u ∈ U, as we consider all possible (f, U, W). Suppose that we call members of ∑(V) (algebraic) deformations of V and propose to study ∑(V) from the stand point of algebraic geometry, as a generalization of the case of curves. This has been taken up at least locally by Kodaira, Spencer, Kuranishi and others in the case of characteristic 0 from a little more general point of view of complex manifolds (cf. [9] and references given in [16]).
The motivic nearby fiber and degeneration of stable rationality
We prove that stable rationality specializes in regular families whose fibers are integral and have at most ordinary double points as singularities. Our proof is based on motivic specialization techniques and the criterion of Larsen and Lunts for stable rationality in the Grothendieck ring of varieties.
When to Cross the Spread? Trading in Two-Sided Limit Order Books
In this paper the problem of optimal trading in illiquid markets is addressed when the deviations from a given stochastic target function describing, for instance, external aggregate client flow are penalized. Using techniques of singular stochastic control, we extend the results of [F. Naujokat and N. Westray, Math. Financ. Econ., 4 (2011), pp. 299--335] to a two-sided limit order market with temporary market impact and resilience, where the bid ask spread is now also controlled. In addition to using market orders, the trader can also submit orders to a dark pool. We first show existence and uniqueness of an optimal control. In a second step, a suitable version of the stochastic maximum principle is derived which yields a characterization of the optimal trading strategy in terms of a nonstandard coupled forward-backward stochastic differential equation (FBSDE). We show that the optimal control can be characterized via buy, sell, and no-trade regions. The new feature is that we now get a nondegenerate no-...