wanyu/IteraTeR_full_sent huggingface dataset:
Original: We study the shapes of the implied volatility when the underlying distribution has an atom at zero . We show that the behaviour at small strikes is uniquely determined by the mass of the atom up to the third asymptotic order, under mild assumptions on the remaining distribution on the positive real line.
Revised: We study the shapes of the implied volatility when the underlying distribution has an atom at zero and analyse the impact of a mass at zero on at-the-money implied volatility and the overall level of the smile. We further show that the behaviour at small strikes is uniquely determined by the mass of the atom up to the third asymptotic order, under mild assumptions on the remaining distribution on the positive real line.
Edit intent: meaning-changed
Original:  An atom at zero is found in stochastic models with absorption at the boundary, such as the CEV process, and can be used to model default events, as in the class of jump-to-default structural modelsof credit risk.
Revised:  We numerically test our model-free results in stochastic models with absorption at the boundary, such as the CEV process, and can be used to model default events, as in the class of jump-to-default structural modelsof credit risk.
Edit intent: meaning-changed
Original:  An atom at zero is found in stochastic models with absorption at the boundary, such as the CEV process, and can be used to model default events, as in the class of jump-to-default structural modelsof credit risk.
Revised:  An atom at zero is found in stochastic models with absorption at the boundary, such as the CEV process, and in jump-to-default structural modelsof credit risk.
Edit intent: clarity
Original:  An atom at zero is found in stochastic models with absorption at the boundary, such as the CEV process, and can be used to model default events, as in the class of jump-to-default structural modelsof credit risk. We numerically test our model-free result in such examples.
Revised:  An atom at zero is found in stochastic models with absorption at the boundary, such as the CEV process, and can be used to model default events, as in the class of jump-to-default models.
Edit intent: clarity
Original:  Note that while Lee's moment formula tells that implied variance is at most asymptotically linear in log-strike, other celebrated results for exact smile asymptotics such as Benaim and Friz (09) or Gulisashvili (10) do not apply in this setting--essentially due to the breakdown of Put-Call symmetry--and one has to rely on a new treatment of the problem .
Revised:  Note that while Lee's moment formula tells that implied variance is at most asymptotically linear in log-strike, other celebrated results for exact smile asymptotics such as Benaim and Friz (09) or Gulisashvili (10) do not apply in this setting--essentially due to the breakdown of Put-Call symmetry--and one has to rely on a new treatment of the problem .
Edit intent: fluency
Original:  Note that while Lee's moment formula tells that implied variance is at most asymptotically linear in log-strike, other celebrated results for exact smile asymptotics such as Benaim and Friz (09) or Gulisashvili (10) do not apply in this setting--essentially due to the breakdown of Put-Call symmetry--and one has to rely on a new treatment of the problem .
Revised:  Note that while Lee's moment formula tells that implied variance is at most asymptotically linear in log-strike, other celebrated results for exact smile asymptotics such as Benaim and Friz (09) or Gulisashvili (10) do not apply in this setting--essentially due to the breakdown of Put-Call duality .
Edit intent: clarity
Original: This paper addresses the question of how an arbitrage-free semimartingale model is affected when stopped at a random horizon or when an honest time is incorporated. Precisely, we focus on No-Unbounded-Profit-with-Bounded-Risk (called NUPBR hereafter) concept, which is also known in the literature as the first kind of non-arbitrage.
Revised: This paper addresses the question of how an arbitrage-free semimartingale model is affected when stopped at a random horizon . We focus on No-Unbounded-Profit-with-Bounded-Risk (called NUPBR hereafter) concept, which is also known in the literature as the first kind of non-arbitrage.
Edit intent: coherence
Original:  Herein, we prove that any quasi-left-continuous process satisfying NUPBR, will preserve the NUPBR when one stops it at any random horizon or when one incorporates a%DIFDELCMD < {\it %%% specific honest time.
Revised:  Herein, we prove that any quasi-left-continuous process satisfying NUPBR, will preserve the NUPBR when one stops it at any random horizon or when one incorporates a%DIFDELCMD < {\it %%% honest time.
Edit intent: clarity
Original:  Herein, we prove that any quasi-left-continuous process satisfying NUPBR, will preserve the NUPBR when one stops it at any random horizon or when one incorporates a%DIFDELCMD < {\it %%% specific honest time. For the general case of semimartingale, we provide necessary and sufficient conditions for the NUPBR to be preserved. Precisely, we elaborate two types of results. For a fixed semimartingale and a random time, we provide necessary and sufficient conditions on the process and the random time for which the non-arbitrage concept remains valid .
Revised:  Herein, we prove that any quasi-left-continuous process satisfying NUPBR, will preserve the NUPBR when one stops it at any random horizon or when one incorporates a%DIFDELCMD < {\it %%% specific For this non-arbitrage notion, we obtain two principal results. The first result lies in describing the pairs of market model and random time for which the non-arbitrage concept remains valid .
Edit intent: clarity
Original:  The second type of results consists of giving necessary and sufficient conditions on the random time for which the non-arbitrage is preserved for any process. Our class of honest times ---that we consider in the paper--- is much larger than the class of all stopping times, and plays an important r\^ole in classifying random times. The crucial stochastic tool that drives our analysis lies in the%DIFDELCMD < {\it %%% optional stochastic integral (or%DIFDELCMD < {\it %%% compensated stochastic integral ) that was introduced in early eighties .
Revised:  The second type of results consists of giving necessary and sufficient conditions on the random time %DIFDELCMD < {\it %%% optional stochastic integral (or%DIFDELCMD < {\it %%% compensated stochastic integral ) that was introduced in early eighties .
Edit intent: coherence
Original:  The crucial stochastic tool that drives our analysis lies in the%DIFDELCMD < {\it %%% optional stochastic integral (or%DIFDELCMD < {\it %%% compensated stochastic integral ) that was introduced in early eighties .
Revised:  The crucial stochastic tool that drives our analysis lies in the%DIFDELCMD < {\it %%% (or%DIFDELCMD < {\it %%% compensated stochastic integral ) that was introduced in early eighties .
Edit intent: clarity
Original:  The crucial stochastic tool that drives our analysis lies in the%DIFDELCMD < {\it %%% optional stochastic integral (or%DIFDELCMD < {\it %%% compensated stochastic integral ) that was introduced in early eighties .
Revised:  The crucial stochastic tool that drives our analysis lies in the%DIFDELCMD < {\it %%% optional stochastic integral %DIFDELCMD < {\it %%% compensated stochastic integral ) that was introduced in early eighties .
Edit intent: fluency
Original:  The crucial stochastic tool that drives our analysis lies in the%DIFDELCMD < {\it %%% optional stochastic integral (or%DIFDELCMD < {\it %%% compensated stochastic integral ) that was introduced in early eighties .
Revised:  The crucial stochastic tool that drives our analysis lies in the%DIFDELCMD < {\it %%% optional stochastic integral (or%DIFDELCMD < {\it %%% ) that was introduced in early eighties .
Edit intent: fluency
Original:  The crucial stochastic tool that drives our analysis lies in the%DIFDELCMD < {\it %%% optional stochastic integral (or%DIFDELCMD < {\it %%% compensated stochastic integral ) that was introduced in early eighties .
Revised:  The crucial stochastic tool that drives our analysis lies in the%DIFDELCMD < {\it %%% optional stochastic integral (or%DIFDELCMD < {\it %%% compensated stochastic integral models that preserve the NUPBR property after stopping for any market model. These results are elaborated in a very general market model, and we also pay attention to some particular and practical models. The analysis that drives these results is based on new stochastic developments in semimartingale theory with progressive enlargement. Furthermore, we construct explicit martingale densities (deflators) for some classes of local martingales when stopped at random time .
Edit intent: meaning-changed
Original:  By compiling a set of available thermodynamic data for processes ranging from protein folding to protein-protein interactions, we show that excluded cosolutes can act through different mechanisms that correlate to a large extent with their molecular properties.
Revised:  By compiling a set of available thermodynamic data for processes ranging from protein folding to protein-protein interactions, we show that excluded cosolutes can act through two distinct mechanisms that correlate to a large extent with their molecular properties.
Edit intent: meaning-changed
Original:  Unfortunately, deriving models accurate enough to be used for control is extremely difficult, especially for large networks of nonlinearly coupled nodes. However , system responses to perturbations are often easily measured.
Revised:  Most approaches to control nonlinearly coupled systems require the network topology and/or network dynamics. Unfortunately, neither the full set of participating nodes nor the network topology is known for many important systems. On the other hand , system responses to perturbations are often easily measured.
Edit intent: meaning-changed
Original:  We show that the collection of such responses -a response surface- can be used for control. Analysis of model systems shows that response surfaces are smooth and  can be approximated using data on a small set of perturbations.
Revised:  We show that the collection of such responses -a response surface- can be used for network control. Analyses of model systems shows that response surfaces are smooth and can be approximated using data on a small set of perturbations.
Edit intent: clarity
Original:  Analysis of model systems shows that response surfaces are smooth and  can be approximated using data on a small set of perturbations.
Revised:  Analysis of model systems shows that response surfaces are smooth and can be approximated using low order polynomials. Importantly, these approximations are largely insensitive to stochastic fluctuations in data or measurement errors. They can be used to compute how a small set of perturbations.
Edit intent: meaning-changed
Original:  Analysis of model systems shows that response surfaces are smooth and  can be approximated using data on a small set of perturbations. The methodology, here validated on nonlinear electrical circuits , can prove useful in many contexts including in reprogramming cellular states and in the design of therapies for genetic diseases .
Revised:  Analysis of model systems shows that response surfaces are smooth and can be approximated using data on a small set of nodes need to be altered in order to direct the network close to a pre-specified target state. These ideas, illustrated on a nonlinear electrical circuit , can prove useful in many contexts including in reprogramming cellular states and in the design of therapies for genetic diseases .
Edit intent: meaning-changed
Original: It has recently been shown that structural conditions on the reaction network, rather than a ` fine-tuning' of system parameters, often suffice to impart ` absolute concentration robustness' on a wide class of biologically relevant, deterministically modeled mass-action systems [Shinar and Feinberg, Science, 2010].
Revised: It has recently been shown that structural conditions on the reaction network, rather than a ' fine-tuning' of system parameters, often suffice to impart ` absolute concentration robustness' on a wide class of biologically relevant, deterministically modeled mass-action systems [Shinar and Feinberg, Science, 2010].
Edit intent: fluency
Original: It has recently been shown that structural conditions on the reaction network, rather than a ` fine-tuning' of system parameters, often suffice to impart ` absolute concentration robustness' on a wide class of biologically relevant, deterministically modeled mass-action systems [Shinar and Feinberg, Science, 2010].
Revised: It has recently been shown that structural conditions on the reaction network, rather than a ` fine-tuning' of system parameters, often suffice to impart ' absolute concentration robustness' on a wide class of biologically relevant, deterministically modeled mass-action systems [Shinar and Feinberg, Science, 2010].
Edit intent: fluency
Original:  Specifically  we characterize a large class of models which exhibit convergence to a positive robust equilibrium in the deterministic setting, whereas trajectories of the corresponding stochastic models are necessarily absorbed by a set of states that reside on the boundary of the state space .
Revised:  Specifically , we characterize a large class of models which exhibit convergence to a positive robust equilibrium in the deterministic setting, whereas trajectories of the corresponding stochastic models are necessarily absorbed by a set of states that reside on the boundary of the state space .
Edit intent: fluency
Original:  Specifically  we characterize a large class of models which exhibit convergence to a positive robust equilibrium in the deterministic setting, whereas trajectories of the corresponding stochastic models are necessarily absorbed by a set of states that reside on the boundary of the state space .
Revised:  Specifically we characterize a large class of models that exhibit convergence to a positive robust equilibrium in the deterministic setting, whereas trajectories of the corresponding stochastic models are necessarily absorbed by a set of states that reside on the boundary of the state space .
Edit intent: fluency
Original:  Specifically  we characterize a large class of models which exhibit convergence to a positive robust equilibrium in the deterministic setting, whereas trajectories of the corresponding stochastic models are necessarily absorbed by a set of states that reside on the boundary of the state space .
Revised:  Specifically we characterize a large class of models which exhibit convergence to a positive robust equilibrium in the deterministic setting, whereas trajectories of the corresponding stochastic models are necessarily absorbed by a set of states that reside on the boundary of the state space , i.e. the system undergoes an extinction event.
Edit intent: meaning-changed
Original:  This quasi-stationary distribution is considered for two systems taken from the literature, and results consistent with absolute concentration robustness are recovered by characterizing the discrepancy between the quasi-stationary distribution for the robust species and a Poisson distribution.
Revised:  This quasi-stationary distribution is considered for two systems taken from the literature, and results consistent with absolute concentration robustness are recovered by showing that the quasi-stationary distribution for the robust species and a Poisson distribution.
Edit intent: clarity
Original:  This quasi-stationary distribution is considered for two systems taken from the literature, and results consistent with absolute concentration robustness are recovered by characterizing the discrepancy between the quasi-stationary distribution for the robust species and a Poisson distribution.
Revised:  This quasi-stationary distribution is considered for two systems taken from the literature, and results consistent with absolute concentration robustness are recovered by characterizing the discrepancy between the quasi-stationary distribution of the robust species and a Poisson distribution.
Edit intent: clarity
Original:  This quasi-stationary distribution is considered for two systems taken from the literature, and results consistent with absolute concentration robustness are recovered by characterizing the discrepancy between the quasi-stationary distribution for the robust species and a Poisson distribution.
Revised:  This quasi-stationary distribution is considered for two systems taken from the literature, and results consistent with absolute concentration robustness are recovered by characterizing the discrepancy between the quasi-stationary distribution for the robust species approaches a Poisson distribution.
Edit intent: fluency
Original:  The denaturation transition is studied , for heterogeneous short sequences of DNA,  in the framework of a mesoscopic Hamiltonian model which accounts for the helicoidal geometry of the molecule.
Revised:  The denaturation transition is studied , for heterogeneous short sequences of DNA, i.e. \sim 100 base pairs, in the framework of a mesoscopic Hamiltonian model which accounts for the helicoidal geometry of the molecule.
Edit intent: meaning-changed
Original:  Computing the melting profiles, I discuss the relation between nonlinear character of the base pair interactions and twisting geometry .
Revised:  Computing the equilibrium thermodynamics, we focus on the interplay between twisting of the complementary strands around the molecule axis and nonlinear stacking potential: it is shown that the latter affects the melting profiles only if the rotational degrees of freedom are included in the Hamiltonian. The use of ladder Hamiltonian models for the DNA complementary strands in the pre-melting regime is questioned .
Edit intent: meaning-changed
Original: Conventional economic analyses of stringent climate change mitigation have generally concluded that economic austerity would result from carbon austerity. These analyses however rely critically on the assumption of an economic equilibrium, which dismisses established notions on behavioural heterogeneity, path dependence and technology transitions. Here we show that on the contrary, the decarbonisation of the electricity sector globally can lead to improvements in economic performance. By modelling the process of innovation-diffusion and  non-equilibrium dynamics, we establish how climate policy instruments for emissions reductions alter economic activity through energy prices, government spending, enhanced investment and tax revenues.
Revised: Conventional economic analyses of stringent climate change mitigation policy generally concludes various levels of economic slowdown as a result of substantial spending on low carbon technology. Equilibrium economics however could not explain or predict the current economic crisis, which is of financial nature. Meanwhile the economic impacts of climate policy find their source through investments for the diffusion of environmental innovations, in parts a financial problem. Here, we expose how results of economic analysis of climate change mitigation policy depend entirely on assumptions and theory concerning the finance of the diffusion of innovations, and non-equilibrium dynamics, we establish how climate policy instruments for emissions reductions alter economic activity through energy prices, government spending, enhanced investment and tax revenues.
Edit intent: meaning-changed
Original:  By modelling the process of innovation-diffusion and  non-equilibrium dynamics, we establish how climate policy instruments for emissions reductions alter economic activity through energy prices, government spending, enhanced investment and tax revenues.
Revised:  By modelling the process of innovation-diffusion and that in many cases, results are simply re-iterations of model assumptions. We show that, while equilibrium economics always predict economic slowdown, methods using non-equilibrium dynamics, we establish how climate policy instruments for emissions reductions alter economic activity through energy prices, government spending, enhanced investment and tax revenues.
Edit intent: meaning-changed
Original:  By modelling the process of innovation-diffusion and  non-equilibrium dynamics, we establish how climate policy instruments for emissions reductions alter economic activity through energy prices, government spending, enhanced investment and tax revenues. While higher electricity prices reduce income and output, this is over-compensated by enhanced employment generated by investments in new technology. We stress that the current dialogue on the impacts of climate policies must be revisited to reflect the real complex dynamics involved in the global economy, not captured by conventional models .
Revised:  By modelling the process of innovation-diffusion and non-equilibrium approaches suggest the opposite could occur. We show that the solution to understanding the economic impacts of reducing greenhouse gas emissions lies with research on the dynamics of the financial sector interacting with innovation and technology developments, economic history providing powerful insights through important analogies with previous historical waves of innovation .
Edit intent: meaning-changed
Original: A classical analogue of the quantum geometric phase may be realised in a given biological oscillator and require the cell to correct for an additional quantity added to the phase of oscillation upon every repetition of the cell cycle  .
Revised: Many intracellular processes continue to oscillate during the cell cycle, although it is not understood how they are affected by discontinuities caused in the cellular environment. It is generally assumed that oscillations remain robust provided the period of cell divisions is much larger than the period of the oscillator. Here I will show that under these conditions, a cell will in fact have to correct for an additional quantity added to the phase of oscillation upon every repetition of the cell cycle .
Edit intent: meaning-changed
Original: A classical analogue of the quantum geometric phase may be realised in a given biological oscillator and require the cell to correct for an additional quantity added to the phase of oscillation upon every repetition of the cell cycle  .
Revised: A classical analogue of the quantum geometric phase may be realised in a given biological oscillator and require the cell to correct for an additional quantity added to the phase of oscillation upon each repetition of the cell cycle .
Edit intent: fluency
Original: A classical analogue of the quantum geometric phase may be realised in a given biological oscillator and require the cell to correct for an additional quantity added to the phase of oscillation upon every repetition of the cell cycle  .
Revised: A classical analogue of the quantum geometric phase may be realised in a given biological oscillator and require the cell to correct for an additional quantity added to the phase of oscillation upon every repetition of the cell cycle . The resulting phase shift is an analogue of the geometric phase, an abstract entity first discovered in quantum mechanics. In this letter I will discuss the theory of the geometric phase shift, and demonstrate its relevance to biological oscillations .
Edit intent: meaning-changed
Original: Many intracellular processes continue to oscillate during the cell cycle , although it is not understood how they are affected by discontinuities caused in the cellular environment . It is generally assumed that oscillations remain robust provided the period of cell divisions is much larger than the period of the oscillator.
Revised: Many intracellular processes continue to oscillate during the cell cycle , although it is not understood how they are affected by discontinuities caused in the cellular environment , the general assumption is that oscillations remain robust provided the period of cell divisions is much larger than the period of the oscillator.
Edit intent: style