wanyu/IteraTeR_full_sent huggingface dataset:
Original:  Taking into account the fact that the market values of the main natural resources i.e. oil, natural gas, copper,...,etc, fluctuate randomly following global and seasonal macro-economic parameters, these values are modeled using Markov switching L\'evy processes.
Revised:  Taking into account the fact that the market values of the main natural resources i.e. oil, natural gas, copper,...,etc, fluctuate randomly following global and seasonal macroeconomic parameters, these values are modeled using Markov switching L\'evy processes.
Edit intent: fluency
Original: We introduce a novel method to estimate the discount curve from market quotes based on the Moore-Penrose pseudoinverse such that 1) the market quotes are exactly replicated, 2) the curve has maximal smoothness, 3) no ad hoc interpolation is needed, and 4) no numerical root-finding algorithms are required .
Revised: We present a non-parametric method to estimate the discount curve from market quotes based on the Moore-Penrose pseudoinverse such that 1) the market quotes are exactly replicated, 2) the curve has maximal smoothness, 3) no ad hoc interpolation is needed, and 4) no numerical root-finding algorithms are required .
Edit intent: clarity
Original: We introduce a novel method to estimate the discount curve from market quotes based on the Moore-Penrose pseudoinverse such that 1) the market quotes are exactly replicated, 2) the curve has maximal smoothness, 3) no ad hoc interpolation is needed, and 4) no numerical root-finding algorithms are required .
Revised: We introduce a novel method to estimate the discount curve from market quotes based on the Moore-Penrose pseudoinverse . The discount curve reproduces the market quotes are exactly replicated, 2) the curve has maximal smoothness, 3) no ad hoc interpolation is needed, and 4) no numerical root-finding algorithms are required .
Edit intent: meaning-changed
Original: We introduce a novel method to estimate the discount curve from market quotes based on the Moore-Penrose pseudoinverse such that 1) the market quotes are exactly replicated, 2) the curve has maximal smoothness, 3) no ad hoc interpolation is needed, and 4) no numerical root-finding algorithms are required .
Revised: We introduce a novel method to estimate the discount curve from market quotes based on the Moore-Penrose pseudoinverse such that 1) the market quotes perfectly, has maximal smoothness, 3) no ad hoc interpolation is needed, and 4) no numerical root-finding algorithms are required .
Edit intent: clarity
Original: We introduce a novel method to estimate the discount curve from market quotes based on the Moore-Penrose pseudoinverse such that 1) the market quotes are exactly replicated, 2) the curve has maximal smoothness, 3) no ad hoc interpolation is needed, and 4) no numerical root-finding algorithms are required .
Revised: We introduce a novel method to estimate the discount curve from market quotes based on the Moore-Penrose pseudoinverse such that 1) the market quotes are exactly replicated, 2) the curve has maximal smoothness, and is given in closed-form. The method is easy to implement and requires only basic linear algebra operations .
Edit intent: meaning-changed
Original: In this article , we propose a new numerical computation scheme for Markovian backward stochastic differential equations (BSDEs ) by connecting the semi-analytic short-term approximation applied to each time interval, which has a very simple form to implement.
Revised: This article proposes a new approximation scheme for quadratic-growth BSDEs in a Markovian setting by connecting a series of semi-analytic short-term approximation applied to each time interval, which has a very simple form to implement.
Edit intent: clarity
Original: In this article , we propose a new numerical computation scheme for Markovian backward stochastic differential equations (BSDEs ) by connecting the semi-analytic short-term approximation applied to each time interval, which has a very simple form to implement. We give the error analysis for BSDEs which have generators of quadratic growth with respect to the control variables and bounded terminal conditions. Although the scheme requires higher regularities than the standard method , one can avoid altogether time-consuming Monte Carlo simulation or other numerical integration for estimating conditional expectations at each space-time node.
Revised: In this article , we propose a new numerical computation scheme for Markovian backward stochastic differential equations (BSDEs ) by connecting the semi-analytic asymptotic expansions applied to short-time intervals. Although there remains a condition which needs to be checked a posteriori , one can avoid altogether time-consuming Monte Carlo simulation or other numerical integration for estimating conditional expectations at each space-time node.
Edit intent: meaning-changed
Original:  We provide numerical examples of quadratic-growth (qg) BSDEs as well as standard Lipschitz BSDEs to illustrate the proposed scheme and its empirical convergence rate .
Revised:  We provide numerical examples of quadratic-growth (qg) BSDEs as well as Lipschitz BSDEs suggest that the scheme works well even for large quadratic coefficients, and a fortiori for large Lipschitz constants .
Edit intent: clarity
Original: We study the problem of a trader who wants to maximize the expected revenue from liquidating a given stock position. We model the stock price dynamics as a geometric pure jump process with local characteristics driven by an unobservable finite-state Markov chain and by the liquidation rate.
Revised: We study the optimal liquidation problem in a market model where the bid price follows a geometric pure jump process with local characteristics driven by an unobservable finite-state Markov chain and by the liquidation rate.
Edit intent: clarity
Original: We introduce a network valuation model (hereafter NEVA) for the ex-ante valuation of claims among financial institutions connected in a network of liabilities. Similar to previous work, the new framework allows to endogenously determine the recovery rate on all claims upon the default of some institutions. In addition, it also allows to account for ex-ante uncertainty on the asset values, in particular the one arising when the valuation is carried out at some time before the maturity of the claims. The framework encompasses as special cases both the ex-post approaches of Eisenberg and Noe and its previous extensions, as well as the ex-ante approaches, in the sense that each of these models can be recovered exactly for special values of the parameters .
Revised: We introduce a general model for the balance-sheet consistent valuation of interbank claims within an interconnected financial system. Our model represents an extension of clearing models of interdependent liabilities to account for the presence of uncertainty on banks' external assets. At the same time, it also provides a natural extension of classic structural credit risk models to the case of an interconnected system .
Edit intent: clarity
Original:  Here we investigate the collective dynamics of the international currency exchange market and show the existence of a semi-invariant signature  masked by the high degree of heterogeneity in this complex system. The cumulative fluctuation distribution in the exchange rates of different currencies possess heavy tails characterized by exponents varying around a median value of 2. The systematic deviation of individual currencies from this putative universal form (the "inverse square law" ) can be partly ascribed to the differences in their economic prosperity and diversity of export products.
Revised:  Here we investigate the collective dynamics of the international currency exchange market and show the existence of a semi-invariant signature masked by the heterogeneity in the properties of the components comprising such systems, we consider the exchange rate dynamics in the international currency market. We show that the exponents characterizing the heavy tails of fluctuation distributions for different currencies systematically diverge from a putative universal form (the "inverse square law" ) can be partly ascribed to the differences in their economic prosperity and diversity of export products.
Edit intent: clarity
Original:  The systematic deviation of individual currencies from this putative universal form (the "inverse square law" ) can be partly ascribed to the differences in their economic prosperity and diversity of export products.
Revised:  The systematic deviation of individual currencies from this putative universal form associated with the median value (~2) of the exponents. We relate the degree of deviation of a particular currency from such an "inverse square law" ) can be partly ascribed to the differences in their economic prosperity and diversity of export products.
Edit intent: meaning-changed
Original:  The distinct nature of the fluctuation dynamics for currencies of developed , emerging and frontier economiesare characterized in detail by detrended fluctuation analysis and variance-ratio tests, which shows that less developed economies are associated with sub-diffusive random walk processes .
Revised:  We also show that in contrast to uncorrelated random walks exhibited by the exchange rate dynamics for currencies of developed , emerging and frontier economiesare characterized in detail by detrended fluctuation analysis and variance-ratio tests, which shows that less developed economies are associated with sub-diffusive random walk processes .
Edit intent: meaning-changed
Original:  The distinct nature of the fluctuation dynamics for currencies of developed , emerging and frontier economiesare characterized in detail by detrended fluctuation analysis and variance-ratio tests, which shows that less developed economies are associated with sub-diffusive random walk processes .
Revised:  The distinct nature of the fluctuation dynamics for currencies of developed , emerging and frontier economiesare characterized in detail by detrended fluctuation analysis and variance-ratio tests, which shows that less developed economies show characteristics of sub-diffusive random walk processes .
Edit intent: clarity
Original:  The distinct nature of the fluctuation dynamics for currencies of developed , emerging and frontier economiesare characterized in detail by detrended fluctuation analysis and variance-ratio tests, which shows that less developed economies are associated with sub-diffusive random walk processes . We hierarchically cluster the currencies into similarity groups based on differences between their fluctuation distributions as measured by Jensen-Shannon divergence. These clusters are consistent with the nature of the underlying economies - but also show striking divergences during economic crises.
Revised:  The distinct nature of the fluctuation dynamics for currencies of developed , emerging and frontier economiesare characterized in detail by detrended fluctuation analysis and variance-ratio tests, which shows that less developed economies are associated with sub-diffusive processes which we relate to the anti-correlated nature of the underlying economies - but also show striking divergences during economic crises.
Edit intent: clarity
Original:  These clusters are consistent with the nature of the underlying economies - but also show striking divergences during economic crises. Indeed a temporally resolved analysis of the fluctuations indicates significant disruption during the crisis of 2008-09 underlining its severity .
Revised:  These clusters are consistent with the nature of the corresponding fluctuations. Approaches similar to that presented here may help in identifying invariant features obscured by the heterogeneous nature of components in other complex systems .
Edit intent: clarity
Original:  We investigated a biophysical model of gene regulation, where the fractional occupancy of a transcription factor (TF) on the cis-regulated promoter site it binds to is determined by binding energy (-{\Delta}G) and TF concentration .
Revised:  We investigated a biophysical model of gene regulation, where the fractional occupancy of a transcription factor (TF) on the cis-regulated promoter site it binds to is determined by binding energy (-{\Delta}G) and TF dosage .
Edit intent: clarity
Original:  In diploids, individuals may be heterozygous at the cis-site, at the TF's coding region, or at the TF's own promoter, which determines allele-specific TF concentration .
Revised:  In diploids, individuals may be heterozygous at the cis-site, at the TF's coding region, or at the TF's own promoter, which determines allele-specific dosage .
Edit intent: clarity
Original:  While binding dominance is inevitable at the molecular level, it may be difficult to detect in the phenotype under some biophysical conditions, more so when TF concentration is high and allele-specific binding affinities are similar.
Revised:  While binding dominance is inevitable at the molecular level, it is difficult to detect in the phenotype under some biophysical conditions, more so when TF concentration is high and allele-specific binding affinities are similar.
Edit intent: coherence
Original:  While binding dominance is inevitable at the molecular level, it may be difficult to detect in the phenotype under some biophysical conditions, more so when TF concentration is high and allele-specific binding affinities are similar.
Revised:  While binding dominance is inevitable at the molecular level, it may be difficult to detect in the phenotype under some biophysical conditions, more so when TF dosage is high and allele-specific binding affinities are similar.
Edit intent: clarity
Original: The spreading of financial distress in capital markets and the resulting systemic risk strongly depend on the detailed structure of financial interconnections .
Revised: Reconstructing patterns of interconnections from partial information is one of the most important issues in the statistical physics of complex networks. A paramount example is provided by financial networks. In fact, the spreading and amplification of financial distress in capital markets and the resulting systemic risk strongly depend on the detailed structure of financial interconnections .
Edit intent: meaning-changed
Original:  Yet, while financial institutions have to disclose their aggregated balance sheet data, the information on single positions is often unavailabledue to privacy issues. The resulting challenge is that of using the aggregate information to statistically reconstruct financial networks and correctly predict their higher-order properties. However, standard approaches generate unrealistically dense networks, which severely underestimate systemic risk.
Revised:  Yet, while financial institutions have to disclose their aggregated balance sheet data, the information on single positions is mostly confidential and, as such, unavailable. Standard approaches to reconstruct the network of financial interconnection produce unrealistically dense topologies, leading to a biased estimation of systemic risk.
Edit intent: clarity
Original:  Moreover, reconstruction techniques are generally cast for networks of bilateral exposures between financial institutions (such as the interbank market), whereas, the network of their investment portfolios (i.e. , the stock market)has received much less attention .
Revised:  Moreover, reconstruction techniques are generally designed for monopartite networks of bilateral exposures between financial institutions (such as the interbank market), whereas, the network of their investment portfolios (i.e. , the stock market)has received much less attention .
Edit intent: meaning-changed
Original:  Moreover, reconstruction techniques are generally cast for networks of bilateral exposures between financial institutions (such as the interbank market), whereas, the network of their investment portfolios (i.e. , the stock market)has received much less attention .
Revised:  Moreover, reconstruction techniques are generally cast for networks of bilateral exposures between financial institutions (such as the interbank market), whereas, the network of their investment portfolios (i.e. , thus failing in reproducing bipartite networks of security holdings (e .
Edit intent: meaning-changed
Original:   Here we develop an improved reconstruction method , based on statistical mechanics concepts and tailored for bipartite market networks. Technically, our approach consists in the preliminary estimation of connection probabilities by maximum-entropy inference driven by entities capitalizations and link density, followed by a density-corrected gravity model to assign position weights. Our method is successfully tested on NASDAQ, NYSE and AMEX filing data, by correctly reproducing the network topology and providing reliable estimates of systemic riskover the market .
Revised:  Here we develop an improved reconstruction method , based on statistical mechanics concepts and tailored for bipartite financial networks. Such a procedure enhances the traditional capital-asset pricing model (CAPM) and allows to reproduce the correct topology of the network. We test the method on a dataset, collected by the European Central Bank, of detailed security holdings of European institutional sectors over a period of six years (2009-2015). Our approach outperforms the traditional CAPM and the recently proposed MECAPM both in reproducing the network topology and providing reliable estimates of systemic riskover the market .
Edit intent: meaning-changed
Original:  Our approach outperforms the traditional CAPM and the recently proposed MECAPM both in reproducing the network topology and in estimating systemic risk  .
Revised:  Our approach outperforms the traditional CAPM and the recently proposed MECAPM both in reproducing the network topology and in estimating systemic risk due to fire-sales spillovers. In general, ECAPM can be applied to the whole class of weighted bipartite networks described by the fitness model .
Edit intent: meaning-changed
Original: Recently it has been revealed that the equilibrium hydrogen-bond breathing dynamics of terminal base pairs in short DNA exhibit a power-law relaxation similar to that in the time-resolved Stokes shift experiments with an intercalated coumarin probe.
Revised: Anomalous non-exponential relaxation in hydrated biomolecules is commonly attributed to the complexity of the free-energy landscapes, similarly to polymers and glasses. It was found recently that the hydrogen-bond breathing dynamics of terminal base pairs in short DNA exhibit a power-law relaxation similar to that in the time-resolved Stokes shift experiments with an intercalated coumarin probe.
Edit intent: meaning-changed
Original: Recently it has been revealed that the equilibrium hydrogen-bond breathing dynamics of terminal base pairs in short DNA exhibit a power-law relaxation similar to that in the time-resolved Stokes shift experiments with an intercalated coumarin probe.
Revised: Recently it has been revealed that the equilibrium hydrogen-bond breathing of terminal DNA base pairs exhibits a slow power-law relaxation similar to that in the time-resolved Stokes shift experiments with an intercalated coumarin probe.
Edit intent: clarity
Original: Recently it has been revealed that the equilibrium hydrogen-bond breathing dynamics of terminal base pairs in short DNA exhibit a power-law relaxation similar to that in the time-resolved Stokes shift experiments with an intercalated coumarin probe. Herea simple theory is proposed that relates the Stokes shift signal to the statistics of Poincar\'e recurrences in the base-pair breathing.
Revised: Recently it has been revealed that the equilibrium hydrogen-bond breathing dynamics of terminal base pairs in short DNA exhibit a power-law relaxation attributable to weak Hamiltonian chaos, with parameters similar to experimental data. Here, the relationship is studied between this motion and spectroscopic signals measured in DNA with a small molecular photoprobe inserted into the base-pair breathing.
Edit intent: meaning-changed
Original:  Herea simple theory is proposed that relates the Stokes shift signal to the statistics of Poincar\'e recurrences in the base-pair breathing. This theory can explain the origin of the observed slow non-exponential relaxation in time-resolved Stokes shift data for DNA as well as other complex systems. It turns out that an intercalated coumarin greatly increases the breathing fluctuations in the neighboring base pairs . This motion is qualitatively similar to that in terminal residues, with the same exponent in the power-law relaxation decay.
Revised:  Herea simple theory is proposed that relates the Stokes shift signal to the statistics of Poincar\'e recurrences in the base-pair stack. To this end, the earlier computational approach in combination with an analytical theory is applied to the experimental DNA fragment. It is found that the intensity of breathing dynamics is strongly increased in the internal base pairs that flank the photoprobe, with anomalous relaxation quantitatively close to that in terminal residues, with the same exponent in the power-law relaxation decay.
Edit intent: clarity
Original:  This motion is qualitatively similar to that in terminal residues, with the same exponent in the power-law relaxation decay. The breathing dynamics is transmitted to the photoprobe by direct contacts between aromatic \pi orbitals of stacked bases .
Revised:  This motion is qualitatively similar to that in terminal base pairs. A physical mechanism is proposed to explain the coupling between the relaxation of base-pair breathing and the experimental response signal. It is concluded that the algebraic relaxation observed experimentally is very likely a manifestation of weakly chaotic dynamics of hydrogen-bond breathing in the base pairs stacked to the photoprobe by direct contacts between aromatic \pi orbitals of stacked bases .
Edit intent: meaning-changed
Original:  Our results suggests an optimal balance between vesicle budding and fusion for the rapid and efficient sorting of membrane components, and highlight the importance of stochastic effects for the URLanization of intra-cellular compartments.
Revised:  Our results suggest an optimal balance between vesicle budding and fusion for the rapid and efficient sorting of membrane components, and highlight the importance of stochastic effects for the URLanization of intra-cellular compartments.
Edit intent: fluency
Original:  Our results suggests an optimal balance between vesicle budding and fusion for the rapid and efficient sorting of membrane components, and highlight the importance of stochastic effects for the URLanization of intra-cellular compartments.
Revised:  Our results suggests an optimal balance between vesicle budding and fusion for the rapid and efficient sorting of membrane components, and highlight the importance of stochastic effects for the URLanisation of intra-cellular compartments.
Edit intent: fluency
Original: By Gyongy's theorem, a local and stochastic volatility  model is calibrated to the market prices of all  call options with positive maturities and strikes if its local volatility function is equal to the ratio of the Dupire local volatility function over the root conditional mean square of the stochastic volatility factor given the spot value.
Revised: By Gyongy's theorem, a local and stochastic volatility (LSV) model is calibrated to the market prices of all call options with positive maturities and strikes if its local volatility function is equal to the ratio of the Dupire local volatility function over the root conditional mean square of the stochastic volatility factor given the spot value.
Edit intent: meaning-changed