Regularization (physics)In physics, especially quantum field theory, regularization is a method of modifying observables which have singularities in order to make them finite by the introduction of a suitable parameter called the regulator. The regulator, also known as a "cutoff", models our lack of knowledge about physics at unobserved scales (e.g. scales of small size or large energy levels). It compensates for (and requires) the possibility that "new physics" may be discovered at those scales which the present theory is unable to model, while enabling the current theory to give accurate predictions as an "effective theory" within its intended scale of use.
Present valueIn economics and finance, present value (PV), also known as present discounted value, is the value of an expected income stream determined as of the date of valuation. The present value is usually less than the future value because money has interest-earning potential, a characteristic referred to as the time value of money, except during times of zero- or negative interest rates, when the present value will be equal or more than the future value. Time value can be described with the simplified phrase, "A dollar today is worth more than a dollar tomorrow".
Artesian wellAn artesian well is a well that brings groundwater to the surface without pumping because it is under pressure within a body of rock and/or sediment known as an aquifer. When trapped water in an aquifer is surrounded by layers of impermeable rock or clay, which apply positive pressure to the water, it is known as an artesian aquifer. If a well were to be sunk into an artesian aquifer, water in the well-pipe would rise to a height corresponding to the point where hydrostatic equilibrium is reached.
