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Martingale Consumption
Peter Holm Nielsen
https://arxiv.org/abs/2505.20504 https://arxiv.org/pdf/2505.20504

Martingale Consumption
We propose martingale consumption as a natural, desirable consumption pattern for any given (proportional) investment strategy. The idea is to always adjust current consumption so as to achieve level expected future consumption under the arbitrarily chosen investment strategy. This approach avoids the formulation of an optimization objective based on preferences towards risk, intertemporal consumption, habit formation etc. We identify general explicit solutions in deterministic-coefficient mode…

Revisiting the magnetic ground states of RECo$_5$ permanent magnets
F. de Almeida Passos, G. J. Nilsen, R. Dankelman, M. Thijs, G. Balakrishnan, S. Kumar, A. Thamizhavel, J. Larrea Jim\'enez
https://arxiv.org/abs/2507.15170

Revisiting the magnetic ground states of RECo$_5$ permanent magnets
In light of recent improvements in the theory of rare earth magnets, as well as the availability of improved neutron powder diffraction data on these materials, we revisit the magnetic single-ion properties of SmCo$_5$ and the magnetic structures of YCo$_5$ and NdCo$_5$. From neutron diffraction patterns in a wide range of temperatures between 3 K and 800 K, we obtain the thermal coefficient expansion and the magnetic moment values for the latter two materials. For SmCo$_5$, we fit existing neu…