No abstract

The silicon strip Microvertex detector of the DELPHI experiment at the CERN LEP collider has been recently upgraded from two coordinates (R only) to three coordinates readout (R and z). The new Microvertex detector consists of 125952 readout channels, and uses novel techniques to obtain the third coordinate. These include the use of AC coupled double sided silicon detectors with strips orthogonal to each other on opposite sides of the detector wafer. The routing of signals from the z strip to the end of the detector modules is done with a second metal layer on the detector surface, thus keeping the material in the sensitive area to a minimum. P airs of wafers are daisy chained, with the wafers within each pair ipped with respect to each other in order to minimize the load capacitance on the readout ampliers. The design of the detector and its various components are described. Results on the performance of the new detector are presented, with special emphasis on alignment, intrinsic precision and impact parameter resolution. The new detector has been taking data since spring of 1994, performing up to design specications.

The reliability of risk measures for financial portfolios crucially rests on the availability of sound representations of the involved random variables. The trade-off between adherence to reality and specification parsimony can find a fitting balance in a technique that "adjust" the moments of a density function by making use of its associated orthogonal polynomials. This approach rests on the Gram-Charlier expansion of a Gaussian law which, allowing for leptokurtosis to an appreciable extent, makes the resulting random variable a tail-sensitive density function. In this paper we determine the density of sums of leptokurtic normal variables duly adjusted for excess kurtosis by means of their Gram-Charlier expansions based on Hermite polynomials. The resultant density can be effectively used to represent a portfolio return and as such proves suitable for computing some risk measures such as Value at Risk and expected short fall. An application to a portfolio of financial returns is used to provide evidence of the effectiveness of the proposed approach.

General rightsIt is not permitted to download or to forward/distribute the text or part of it without the consent of the author(s) and/or copyright holder(s), other than for strictly personal, individual use, unless the work is under an open content license (like Creative Commons). Disclaimer/Complaints regulationsIf you believe that digital publication of certain material infringes any of your rights or (privacy) interests, please let the Library know, stating your reasons. In case of a legitimate complaint, the Library will make the material inaccessible and/or remove it from the website. Please Ask the Library: http://uba.uva.nl/en/contact, or a letter to: Library of the University of Amsterdam, Secretariat, Singel 425, 1012 WP Amsterdam, The Netherlands. You will be contacted as soon as possible. Download date: 13 May 2018Digital Object Identifier (DOI) 10.1140/epjc/s2003-01441-8 Eur. Phys. J. C 32, 185-208 (2004) Abstract. The standard method used for tagging b-hadrons in the DELPHI experiment at the CERN LEP Collider is discussed in detail. The main ingredient of b-tagging is the impact parameters of tracks, which relies mostly on the vertex detector. Additional information, such as the mass of particles associated to a secondary vertex, significantly improves the selection efficiency and the background suppression. The paper describes various discriminating variables used for the tagging and the procedure of their combination. In addition, applications of b-tagging to some physics analyses, which depend crucially on the performance and reliability of b-tagging, are described briefly.

The DELPHI microvertex has been carefully aligned for the 1990 period of data taking at LEP ete -collider using a multistep procedure. The first two steps are presented. Method and results of a precise mapping of the microvertex before the insertion in the DELPHI apparatus using a 3-D measurement machine are describec in detail. Secondly procedure and results of an alignment algorithm using the interaction tracks are presented.

No abstract

The future revision of capital requirements and a market-consistent valuation of non-hedgeable liabilities lead to an increasing attention on forecasting longevity trends. In this field, many methodologies focus on either modeling mortality or pricing mortality-linked securities (as longevity bonds). Following Lee-Carter method (proposed in 1992), actuarial literature has provided several extensions in order to consider different trends observed in European data set (e.g., the cohort effect). The purpose of the paper is to compare the features of main mortality models proposed over the years. Model selection became indeed a primary task with the aim to identify the "best" model. What is meant by best is controversial, but good selection techniques are usually based on a good balance between goodness of fit and simplicity. In this regard, different criteria, mainly based on residual and projected rates analysis, are here used. For the sake of comparison, main forecasting methods have been applied to deaths and exposures to risk of male Italian population. Weaknesses and strengths have been emphasized, by underlying how various models provide a different goodness of fit according to different data sets. At the same time, the quality and the variability of forecasted rates have been compared by evaluating the effect on annuity values. Results confirm that some models perform better than others, but no single model can be defined as the best method.

The main characteristics of the DELPHI Microvertex Detector are presented. The performance in terms of impact parameter resolution, association efficiency and ambiguity is evaluated after two years of data taking at LEP.