This thesis describes a study of the production of high transverse momentum direct photons and [pi]0 mesons by proton beams at 530 and 800 GeV/c and [pi]- beams at 515 GeV/c incident on beryllium, copper, and liquid hydrogen targets. The data were collected by Fermilab experiment E706 during the 1990 and 1991-92 fixed target runs. The apparatus included a large, finely segmented lead and liquid argon electromagnetic calorimeter and a charged particle spectrometer featuring silicon strip detectors in the target region and proportional wire chambers and drift tubes downstream of a large aperture analysis magnet. The inclusive cross sections are presented as functions of transverse momentum and rapidity. The measurements are compared with next-to-leading order perturbative QCD calculations and to results from previous experiments.

The E705 scintillation glass/lead glass electromagnetic calorimeter is described. The trigger used for recording high transverse momentum direct photon signals from 300 GeV/c .pi./sup /minus//, .pi., /bar p/, p interactions in a Li7 target is explained. Preliminary results on the response of this direct photon trigger and electromagnetic calorimeter and expected event sensitivities are presented. 14 refs., 9 figs., 2 tabs.

The Advanced Research Workshop on QeD Hard Hadronic Processes was held on 8-13 October 1987 at Hotel on the Cay, St. Croix, U. S. Virgin Islands. The underlying theme of the workshop, the first in a series, was an examination, both theoretical and experimental, of the state of understanding of Quantum Chromodynamics. Because of the pervasiveness of the strong interactions in all aspects of high energy physics, QCD is central to many problems in elementary particle physics. Therefore, this workshop was organized to provide a forum in which the theory Quantum Chromodynamics cou 1 d be confronted with experi ment. The workshop was organ i zed in four sessions, each of which concentrated on a major experimental arena in which a hard QCD process can be measured experimentally. A fifth session was rlevoted to global issues which effect all QCD processes. Each session began with a survey of the theoretical developments in the particular area and concluded with a round table which discussed the various information presented in the course of the discussions. A session of the workshop was devoted to the direct production of high transverse momentum photons in hadronic interactions. Data from several experiments, either completed or in progress at CERN (NA3, NA24, WA70, UA6, CCOR, R806, AFS, RllO, UA1 and UA2), were di scussed and the prospects for two new upcomi ng experi ments from Fermil ab (E-705, E-706) were presented.

Based around recent lectures given at the prestigious Ritsumeikan conference, the tutorial and expository articles contained in this volume are an essential guide for practitioners and graduates alike who use stochastic calculus in finance.Among the eminent contributors are Paul Malliavin and Shinzo Watanabe, pioneers of Malliavin Calculus. The coverage also includes a valuable review of current research on credit risks in a mathematically sophisticated way contrasting with existing economics-oriented articles.