A central goal in the study of quantum chaos is being able to make universal statements about the dynamics of generic Hamiltonian systems. Under time evolution, an initially local operator progressively explores the Hilbert space of a system becoming increasingly non-local in the process. We will see that this idea lends itself to a natural notion of operator complexity measured (in the Hilbert space of operators) by the overlap of a time-evolving operator with a basis naturally adapted to time evolution and stratified by the growth in the operator's support. The information contained in this so-called Krylov basis is encoded in a sequence called the Lanczos coefficients which quantify the rate at which an operator is "pushed" along the Krylov basis to successively more complex elements. The universal operator growth hypothesis is then the conjecture that the Lanczos coefficients grow asymptotically linearly in any quantum chaotic system. In this talk, I will present an overview of these ideas and see how they manifest in the example of the well-studied SYK model. This talk is primarily based on 1812.08657.

TBA

We propose a novel Black-Scholes model under which the stock price processes are modeled by stochastic differential equations driven  by sub-diffusions. The new framework can capture the less financial activity phenomenon during the bear markets while having the classical Black-Scholes model as its special case. The sub-diffusive spot market is arbitrage-free but is in general incomplete. We investigate the pricing for European-style contingent claims under this new model. For this, we study the Girsanov transform for sub-diffusions and use it to find risk-neutral probability measures for the new Black-Scholes model. Finally, we derive the explicit formula for the price of European call options and show that it can be determined by a partial differential equation (PDE) involving a fractional derivative in time, which we coin a time-fractional Black-Scholes PDE.