We compute the next-to-leading order corrections to the radiative return process $e^+ e^- \to π^+ π^- γ$ within the FsQED approach to embed the pion form factor in the calculation of loop integrals. We compare our results with those of the factorised scalar QED approach, as well as with previous predictions obtained by us in the generalised vector meson dominance model. We show the numerical impact of the structure-dependent corrections on various observables of interest for radiative return experiments at flavour factories. Following recent input from the literature, we include in our calculation also leading corrections beyond FsQED and we provide a first estimate of such contributions. We also investigate additional mechanisms contributing to final-state radiation at center-of-mass energies around the $ϕ$-meson resonance, such as radiative $ϕ$ decays, presenting numerical results that are relevant for the KLOE experiment. These novel features are implemented in the Monte Carlo event generator BabaYaga@NLO, which can now be used to evaluate the impact of the modelling of pion-photon interaction in radiative return measurements.

We compute the radiative corrections to the process of two-pion production in association with a hard photon in e+e-annihilation by taking into account the non-perturbative structure of the pion in the one-loop calculation. For this purpose, we adopt the generalised vector meson dominance model to insert the pion form factor in loop integrals for the treatment of final-state radiation and initial-final state interference at next-to-leading order. We compare our predictions with the results of the naive factorised scalar QED approach for experimentally relevant observables in the measurement of the e+e-- ,+,-y process. The computation extends previous results obtained for the energy scan process e+e-- ,+,- and can be used to quantify the uncertainty due to the model describing the pion-photon interaction in radiative return experiments at flavour factories.

Abstract The radiative return, together with the energy scan, is the method used at flavour factories to measure the pion form factor, which is a crucial input for the data-driven dispersive computation of the leading-order hadronic contribution to the muon anomalous magnetic moment. We consider the radiative hadronic and leptonic channels of main experimental interest, namely the processes e + e − → X + X − γ, with X = {π, μ}. For such processes, we compute the exact next-to-leading order (NLO) corrections matched to a Parton Shower (PS) to describe exclusive multiple photon emission. All sources of radiative corrections from initial-state and final-state radiation, as well as their interference, are considered according to QED for e + e − → μ + μ − γ and QED⨁F×sQED (Factorised scalar QED) for e + e − → π + π − γ. We describe in detail the novel features of our PS approach to compute the fixed-order corrections in association with higher-order contributions to 2 → 3 processes, with a hard photon in the final state. We present validation tests and comparisons with NLO predictions available in the literature to cross-check various ingredients of our formulation. We also show numerical results at NLOPS accuracy according to realistic event selection criteria for precision measurements at flavour factories. Our calculation is implemented in an updated version of the Monte Carlo event generator BabaYaga@NLO, which can be used for fully exclusive simulations and data analysis in radiative return experiments.

We compute the radiative corrections to the process of two-pion production in association with a hard photon in e+e− annihilation by taking into account the non-perturbative structure of the pion in the one-loop calculation. For this purpose, we adopt the generalised vector meson dominance model to insert the pion form factor in loop integrals for the treatment of final-state radiation and initial-final state interference at next-to-leading order. We compare our predictions with the results of the naive factorised scalar QED approach for experimentally relevant observables in the measurement of the e+e−→π+π−γ process. The computation extends previous results obtained for the energy scan process e+e−→π+π− and can be used to quantify the uncertainty due to the model describing the pion-photon interaction in radiative return experiments at flavour factories.

The pion pair production in e+e− annihilation at flavour factories plays a crucial role in the determination of the hadronic contribution to the muon anomalous magnetic moment. The recent CMD-3 measurement of the pion form factor via energy scan displays a significant difference with the previous experimental determinations. In order to contribute to an improved theoretical description and simulation of energy scan experiments, we present a calculation of the e+e− → π+π−(γ) hadronic channel at next-to-leading order matched to a Parton Shower algorithm in QED and sQED. According to the recent advances in the literature, particular attention is paid to the treatment of the pion composite structure in loop diagrams beyond the commonly used factorised sQED approach, as well as to the modelling of multiple photon radiation through the Parton Shower algorithm. In particular, we carry out a detailed discussion on the inclusion of the pion form factor in the virtual sQED corrections according to two independent methods, inspired by the generalised vector meson dominance model and the dispersive approach, respectively. We find the two methods to be in remarkable agreement. We show phenomenological results for inclusive and differential observables which are relevant for precision energy scan measurements, focusing on the impact of the radiative corrections and the effect of the various approaches for the treatment of the pion form factor. Our calculation is implemented in an updated version of the Monte Carlo event generator BabaYaga@NLO, that can be used for fully exclusive simulations in data analysis.

Several key observables of the high-precision physics program at future lepton colliders will critically depend on the knowledge of the absolute machine luminosity. The determination of the luminosity relies on the precise knowledge of some reference process, which is in principle not affected by unknown physics, so that its cross section can be computed within a well-established theory, like the Standard Model. Quantifying the uncertainties induced by possible New Physics effects on such processes is therefore crucial. We present an exploratory investigation of light and heavy New Physics contributions to the small-angle Bhabha process at future e^+e^- colliders and we discuss possible strategies to remove potential uncertainties originating from such contaminations by relying on observables that are independent of the absolute luminosity.

Participants in socio-economic systems are often ranked based on their performance. Rankings conveniently reduce the complexity of such systems to ordered lists. Yet, it has been shown in many contexts that those who reach the top are not necessarily the most talented, as chance plays a role in shaping rankings. Nevertheless, the role played by chance in determining success, i.e. serendipity, is underestimated, and top performers are often imitated by others under the assumption that adopting their strategies will lead to equivalent results. We investigate the tradeoff between imitation and serendipity in an agent-based model. Agents in the model receive payoffs based on their actions and may switch to different actions by either imitating others or through random selection. When imitation prevails, most agents coordinate on a single action, leading to non-meritocratic outcomes, as a minority of them accumulate the majority of payoffs. Yet, such agents are not necessarily the most skilled ones. When serendipity dominates, instead, we observe more egalitarian outcomes. The two regimes are separated by a sharp transition, which we characterize analytically in a simplified setting. We discuss the implications of our findings in a variety of contexts, ranging from academic research to business.

We provide an overview of the status of Monte-Carlo event generators for high-energy particle physics. Guided by the experimental needs and requirements, we highlight areas of active development, and opportunities for future improvements. Particular emphasis is given to physics models and algorithms that are employed across a variety of experiments. These common themes in event generator development lead to a more comprehensive understanding of physics at the highest energies and intensities, and allow models to be tested against a wealth of data that have been accumulated over the past decades. A cohesive approach to event generator development will allow these models to be further improved and systematic uncertainties to be reduced, directly contributing to future experimental success. Event generators are part of a much larger ecosystem of computational tools. They typically involve a number of unknown model parameters that must be tuned to experimental data, while maintaining the integrity of the underlying physics models. Making both these data, and the analyses with which they have been obtained accessible to future users is an essential aspect of open science and data preservation. It ensures the consistency of physics models across a variety of experiments.

Modelling systems with networks has been a powerful approach to tame the complexity of several phenomena. Unfortunately, the large number of variables to take into consideration often makes concrete problems difficult to handle. Methods of dimensional reduction are useful tools to rescale a complex network down to a low-dimensional effective system and thus to capture its global dynamical features. Here we study the application of the degree-weighted and spectral reduction methods to an important class of dynamical processes on networks: the propagation of credit shocks within an interbank network, modelled according to the DebtRank algorithm. We introduce an effective version of the dynamics, characterized by functions with continuous derivatives that can be handled by the dimensional reduction. We test the reduction methods against the full dynamical system in different interbank market settings: homogeneous and heterogeneous networks generated from state-of-the-art reconstruction methods as well as networks derived from empirical e-MID data. Our results indicate that, for proper choices of the bank default probability, reduction methods can provide reliable estimates of systemic risk in the market, with the spectral reduction better handling heterogeneous networks. Finally, we provide new insights on the nature and working principles of dimensional reduction methods.

It is well known that the probability distribution of high-frequency financial returns is characterized by a leptokurtic, heavy-tailed shape. This behavior undermines the typical assumption of Gaussian log-returns behind the standard approach to risk management and option pricing. Yet, there is no consensus on what class of probability distributions should be adopted to describe financial returns and different models used in the literature have demonstrated, to varying extent, an ability to reproduce empirically observed stylized facts. In order to provide some clarity, in this paper we perform a thorough study of the most popular models of return distributions as obtained in the empirical analyses of high-frequency financial data. We compare the statistical properties and simulate the dynamics of non-Gaussian financial fluctuations by means of Monte Carlo sampling from the different models in terms of realistic tail exponents. Our findings show a noticeable consistency between the considered return distributions in the modeling of the scaling properties of large price changes. We also discuss the convergence rate to the asymptotic distributions of the non-Gaussian stochastic processes and we study, as a first example of possible applications, the impact of our results on option pricing in comparison with the standard Black and Scholes approach.

We consider the process of muon-electron elastic scattering, which has been proposed as an ideal framework to measure the running of the electromagnetic coupling constant at space-like momenta and determine the leading-order hadronic contribution to the muon g-2 (MUonE experiment). We compute the next-to-leading (NLO) contributions due to QED and purely weak corrections and implement them into a fully differential Monte Carlo event generator, which is available for first experimental studies. We show representative phenomenological results of interest for the MUonE experiment and examine in detail the impact of the various sources of radiative corrections under different selection criteria, in order to study the dependence of the NLO contributions on the applied cuts. The study represents the first step towards the realisation of a high-precision Monte Carlo code necessary for data analysis.

This white paper concerns theoretical and phenomenological aspects relevant to the physics of future $e^+e^-$ colliders, in particular regarding initial-state QED radiation. The contributions each contain key technical aspects, and are formulated in a pedagogical manner so as to render them accessible also to those who are not directly working on these and immediately-related topics. This should help both experts and non-experts understand the theoretical challenges that we shall face at future $e^+e^-$ colliders. Specifically, this paper contains descriptions of the treatment of initial state radiation from several Monte Carlo collaborations, as well as contributions that explain a number of more theoretical developments with promise of future phenomenological impact.

The recently proposed MUonE experiment at CERN aims at providing a novel determination of the leading order hadronic contribution to the muon anomalous magnetic moment through the study of elastic muon-electron scattering at relatively small momentum transfer. The anticipated accuracy of the order of 10ppm demands for high-precision predictions, including all the relevant radiative corrections. The fixed-order NNLO radiative corrections due to the emission of virtual and real leptonic pairs are described and their numerical impact is discussed for typical event selections of the MUonE experiment, by means of the upgraded Monte Carlo code Mesmer.

We review the current status of the theory predictions for elastic $$\mu $$-e scattering, describing the recent activities and future plans of the theory initiative related to the proposed MUonE experiment.

We review the current status of the theory predictions for elastic $\mu$-$e$ scattering, describing the recent activities and future plans of the theory initiative related to the proposed MUonE experiment.

This research establishes an identity between kinetic market models of econophysics and evolutionary algorithms of computer science. The fusion between the two approaches motivated a new market model with two basic operations: sampling and selection of states. The result is a non-conservative market that depends on the size of the sample set and the approach used to approximate the principle of energy conservation. This market exhibits complex dynamics with random walks for the sum of all the agents’ money and a scaling behavior for the money distribution in the population. Moreover, the fusion demonstrates how to add an evolutionary context to the kinetic market models and suggests a quasi-equilibrium version of those models. As a by-product, the work reveals a practical application as a new replacement rule for family competition evolutionary algorithms, which outperforms traditional ones in challenging combinatorial optimization problems.

We consider large-angle two photon production in e+e− annihilation as a possible process to monitor the luminosity of a future e+e− circular collider (FCC-ee). We review and assess the status of the theoretical accuracy by performing a detailed phenomenological study of next-to-leading order electroweak corrections and leading logarithmic QED contributions due to multiple photon radiation. We also estimate the impact of photonic and fermion-loop corrections at next-to-next-to-leading order and the uncertainty induced by the hadronic contribution to the vacuum polarization. Possible perspectives to address the target theoretical accuracy are briefly discussed.

The Future Circular Collider (FCC) at CERN, a proposed 100-km circular facility with several colliders in succession, culminates with a 100 TeV proton-proton collider. It offers a vast new domain of exploration in particle physics, with orders of magnitude advances in terms of Precision, Sensitivity and Energy. The implementation plan foresees, as a first step, an Electroweak Factory electron-positron collider. This high luminosity facility, operating between 90 and 365 GeV centre-of-mass energy, will study the heavy particles of the Standard Model, Z, W, Higgs, and top with unprecedented accuracy. The Electroweak Factory $e^+e^-$ collider constitutes a real challenge to the theory and to precision calculations, triggering the need for the development of new mathematical methods and software tools. A first workshop in 2018 had focused on the first FCC-ee stage, the Tera-Z, and confronted the theoretical status of precision Standard Model calculations on the Z-boson resonance to the experimental demands. The second workshop in January 2019, which is reported here, extended the scope to the next stages, with the production of W-bosons (FCC-ee-W), the Higgs boson (FCC-ee-H) and top quarks (FCC-ee-tt). In particular, the theoretical precision in the determination of the crucial input parameters, alpha_QED, alpha_QCD, M_W, m_t at the level of FCC-ee requirements is thoroughly discussed. The requirements on Standard Model theory calculations were spelled out, so as to meet the demanding accuracy of the FCC-ee experimental potential. The discussion of innovative methods and tools for multi-loop calculations was deepened. Furthermore, phenomenological analyses beyond the Standard Model were discussed, in particular the effective theory approaches. The reports of 2018 and 2019 serve as white papers of the workshop results and subsequent developments.