Miracle-dz/UniFAR-FTUs huggingface dataset:
Trade Size and the Adverse Selection Component of the Spread: Which Trades are "Big"?

Existing research suggests adverse selection spread components are positively related to trade size, consistent with informed traders trading in larger sizes. However, if market makers use quoted depth to limit losses to informed traders, the size of a trade relative to the depth quoted at the time of the trade is potentially a better indicator of informed trading than is trade size alone. We show that much of the variation in adverse selection estimates can be explained by variation in the ratio of trade size to depth. Further, the previously documented relation between adverse selection spread component estimates and raw trade size largely disappears when the ratio of trade size relative to depth is held constant. Finally, we find that the previously documented intraday pattern in adverse selection estimates does not exist for trade sizes that approach or exceed the quoted depth. That is, for large (relative to depth) trades, the time of day at which a trade occurs provides virtually no incremental information about the probability the trade is informed. In sum, our results indicate whether a trade is 'large', and therefore indicative of informed trading, depends on the depth in effect when the trade occurs.
Active Reinforcement Learning: Observing Rewards at a Cost

Active reinforcement learning (ARL) is a variant on reinforcement learning where the agent does not observe the reward unless it chooses to pay a query cost c > 0. The central question of ARL is how to quantify the long-term value of reward information. Even in multi-armed bandits, computing the value of this information is intractable and we have to rely on heuristics. We propose and evaluate several heuristic approaches for ARL in multi-armed bandits and (tabular) Markov decision processes, and discuss and illustrate some challenging aspects of the ARL problem.
Optimal Sample Size for Multiple Testing

We consider the choice of an optimal sample size for multiple-comparison problems. The motivating application is the choice of the number of microarray experiments to be carried out when learning about differential gene expression. However, the approach is valid in any application that involves multiple comparisons in a large number of hypothesis tests. We discuss two decision problems in the context of this setup: the sample size selection and the decision about the multiple comparisons. We adopt a decision-theoretic approach, using loss functions that combine the competing goals of discovering as many differentially expressed genes as possible, while keeping the number of false discoveries manageable. For consistency, we use the same loss function for both decisions. The decision rule that emerges for the multiple-comparison problem takes the exact form of the rules proposed in the recent literature to control the posterior expected falsediscovery rate. For the sample size selection, we combine the expected utility argument with an additional sensitivity analysis, reporting the conditional expected utilities and conditioning on assumed levels of the true differential expression. We recognize the resulting diagnostic as a form of statistical power facilitating interpretation and communication. As a sampling model for observed gene expression densities across genes and arrays, we use a variation of a hierarchical gamma/gamma model. But the discussion of the decision problem is independent of the chosen probability model. The approach is valid for any model that includes positive prior probabilities for the null hypotheses in the multiple comparisons and that allows for efficient marginal and posterior simulation, possibly by dependent Markov chain Monte Carlo simulation.
The introduction of a gambling tax in South Africa - what are the odds on the implementation thereof?

The South African Revenue Service has been exploring the possibility of implementing a form of taxation on gambling winnings since the Minister of Finance’s Budget Speech in 2010. On a superficial level it seems a logical mechanism for broadening the tax base – a case of increasing the tax collected from those who can afford the luxury of gambling. There are, however, a number of unintended consequences that government does not seem to have considered. As a result, this article uses a detailed content analysis of the prior academic and professional tax literature to explore possible weaknesses/flaws of a tax on gambling winnings in South Africa. These include the administrative burden of such a tax, certain economic consequences of allowing gambling losses as a tax deduction and the possible social consequences thereof. These findings mean that the article provides a meaningful contribution by critically assessing the proposed tax with the aim of informing policy development and future quantitative studies on a tax on gambling winnings.
Establishing Causality as a Desideratum for Memory Models and Transformations of Parallel Programs

In this paper, we establish a notion of causality that should be used as a desideratum for memory models and code transformations of parallel programs. We introduce a Causal Acyclic Consistency (CAC) model which is weak enough to allow various useful code transformations, yet still strong enough to prevent any execution that exhibits “causal cycles” that may be caused by the Java Memory Model (JMM) [18]. For memory models, we introduce a graph model called causality graph that can be used to analyze if a particular program execution violates causality. By using causality graph, we show that a popular memory model (such as the Java memory model) can lead to program executions that exhibit causality violations with respect to our notion of causality. For code transformations, we establish criteria to identify transformations that are causality-preserving which do not result in any execution that exhibits causality violation. We showed that the CAC model allows all the causality-preserving transformations. Finally, we present preliminary experimental results for a load elimination optimization to motivate the performance benefit of using the CAC model relative to the Sequential Consistency (SC) model which is the most basic memory model. For the benchmark program studied, the number of getfield operations performed was reduced by 37.9% by using the CAC model instead of the SC model, and the execution time on a 16-core processor was reduced by 46.2%.
Inferring likelihoods and climate system characteristics from climate models and multiple tracers

Characterizing the risks of anthropogenic climate change poses considerable statistical challenges. A key problem is how to combine the information contained in large‐scale observational data sets with simulations of Earth system models in a statistically sound and computationally tractable manner. Here, we describe a statistical approach for improving projections of the North Atlantic meridional overturning circulation (AMOC). The AMOC is part of the global ocean conveyor belt circulation and transfers heat between low and high latitudes in the Atlantic basin. The AMOC might collapse in a “tipping point” response to anthropogenic climate forcings. Assessing the risk of an AMOC collapse is of considerable interest because it may result in major impacts on natural and human systems. AMOC projections rely on simulations from complex climate models. One key source of uncertainty in AMOC projections is uncertainty about background ocean vertical diffusivity (Kv), an important model parameter. Kv cannot be directly observed but can be inferred by combining climate model output with observations on the oceans (so‐called tracers). Here, we combine information from multiple tracers, each observed on a spatial grid. Our two‐stage approach emulates the computationally expensive climate model using a flexible hierarchical model to connect the tracers. We then infer Kv using our emulator and the observations via a Bayesian approach, accounting for observation error and model discrepancy. We utilize kernel mixing and matrix identities in our Gaussian process model to considerably reduce the computational burdens imposed by the large data sets. We find that our approach is flexible, reduces identifiability issues, and enables inference about Kv based on large data sets. We use the resulting inference about Kv to improve probabilistic projections of the AMOC. Copyright © 2012 John Wiley & Sons, Ltd.
Effects of Body Weight Reduction on Serum Irisin and Metabolic Parameters in Obese Subjects

Background Irisin is a myokine implicated in lipid and glucose metabolism. The objective of this study is to examine the effect of a body weight reduction on the serum irisin level and physical indicators in obese Japanese patients without diabetes. Methods The subjects were 22 patients (male/female, 5/17; age, 46.1±16.0 years; body mass index [BMI], 36.9±5.0 kg/m2) who completed a 6-month body weight reduction program at our clinic. The program included diet, exercise therapy and cognitive behavioral therapy. Blood parameters, body composition, exercise tolerance, homeostasis model assessment of insulin resistance (HOMA-IR), and serum irisin were determined before and after intervention, and relationships among changes in these data were examined. Results There were significant decreases in body weight and BMI after the intervention. Irisin before the intervention was significantly positively correlated with HOMA-IR (r=0.434, P<0.05). The mean irisin level showed no significant change after the intervention in all participants. However, improvements in % body fat, subcutaneous fat area, triglycerides, and fasting glucose were significantly greater in patients with an increase in irisin compared to those with a decrease in irisin after the intervention. Patients with an increase in irisin also had significantly lower fasting insulin (9.7±4.8 vs. 16.4±8.2, P<0.05) and HOMA-IR (2.2±1.1 vs. 3.7±1.6, P<0.05) after the intervention, compared to patients with a decrease in irisin. Conclusion Body weight reduction did not alter irisin levels. However, irisin may play important roles in fat and glucose metabolism and insulin resistance, and the effects of body weight reduction on irisin kinetics may be a key for obesity treatment.
Remarks on the Well-Posedness of the Nonlinear Cauchy Problem

We show that hyperbolicity is a necessary condition for the well posedness of the noncharacteristic Cauchy problem for nonlinear partial differential equations. We give conditions on the initial data which are necessary for the existence of solutions and we analyze Hadamard's instabilities in Sobolev spaces. We also show that genuinely nonlinear equations raise new interesting problems.
Introduction to galactic dynamos

A review of galactic magnetic fields is given with emphasis on simple analytical solutions of relevant equations and detailed comparison with observations. It is shown that mean-field dynamo theory, in its simplest form, is in a remarkably good agreement with observations of galactic magnetic fields. It is argued that the disc-halo connection can play crucial role in the nonlinear evolution of regular magnetic fields in spiral galaxies by driving flux of magnetic helicity from the disc, thus supporting healthy dynamo action.
Trends in Homeownership by Age and Household Income: Factors Associated with the Decision to Own, 1981 to 2006

This paper examines why rates of homeownership have been increasing amongst young higher-income households, but declining among young lower-income households. For the period from 1981 to 2006, household data from the Census of Population, supplemented with information from the Survey of Financial Security, are employed to model the decision to own across the income distribution. The model assesses whether housing market conditions (e.g., the cost of renting versus owning), the financial condition of households (e.g., whether the household has sufficient wealth to make a standard down payment), and demographic factors (e.g., changing family composition) account for these diverging trends in housing demand.
ICF linking rules: an update based on lessons learned.

OBJECTIVE Outcome research seeks to understand the end results of health services. Researchers use a wide variety of outcome measures including technical, clinical and patient-oriented measures. The International Classification of Functioning, Disability and Health (ICF) as a common reference framework for functioning may contribute to improved outcome research. The objective of this paper is to provide an updated version of the linking rules published in 2002 and illustrate how these rules are applied to link technical and clinical measures, health-status measures and interventions to the ICF. RESULTS Three specific linking rules have been established to link health-status measures to the ICF and one specific linking rule has been created to link technical and clinical measures and interventions. A total of 8 linking rules have been established for use with all different outcome measures and with interventions. CONCLUSION The newly updated linking rules will allow researchers systematically to link and compare meaningful concepts contained in them. This should prove extremely useful in selecting the most appropriate outcome measures among a number of candidate measures for the applied interventions. Further possible applications are the operationalization of concrete ICF categories using specific measures or the creation of ICF category-based item bankings.
Essays on security issuance

When a firm requires funds for financing operations, managers face several alternatives. Managers may raise funds through the public markets or the private sector. They may issue equity, debt, or a mix of equity and debt. The type of security issued, size of the offering, and the timing and pricing of the issue represent additional options for firm managers. Mangers must consider the costs and benefits for the firm related to each alternative. Influencing the assessment of the costs and benefits are the incentives of the managers, which may or may not align with those of the firm's other stakeholders. This dissertation addresses the decision making process of firm managers when faced with raising funds for firm operations. I examine three broad corporate finance issues by employing a comprehensive hand-collected dataset of firms issuing common stock purchase warrants. These securities, which provide holders the option of buying shares of stock in the issuing firm for an exercise price, possess features that allow me to evaluate research questions related to corporate governance, ownership and liquidity, and the market for corporate control.
Pengaruh Store Atmosphere Terhadap Purchase Intention

Store Atmosphere merupakan suasana toko yang dapat mempengaruhi pelanggan dalam menciptakan kenyamanan. Store Atmosphere dan Purchase Intention sangat erat kaitannya dikarenakan seorang konsumen sering menilai sebuah toko dari kesan pertamanya yaitu berupa kebersihan, musik, aroma, temperatur, pencahayaan, warna, dan tata letak produk/ display. Tujuan dari penelitian ini untuk menguji dan menganalisis pengaruh Store Atmosphere terhadap Purchase Intention dan mengetahui seberapa besar pengaruh Store Atmosphere terhadap Purchase intention pada Transmart Carrefour Kota Bandung. Metode penelitian yang digunakan dalam penelitian ini adalah menggunakan analisis regresi sederhana. Jenis penelitian ini adalah kuantitatif dengan populasi yang dipilih dalam penelitian ini adalah Mahasiswa yang mengenal dan pernah mengunjungi Transmart Carrefour Kota Bandung. Teknik penarikan sampel yang digunakan adalah purposive sampling. Jumlah sampel yang diambil sebanyak 340 responden. Berdasarkan hasil penelitian dan pembahasan, maka dapat diberi kesimpulan bahwa Store Atmosphere secara simultan berpengaruh signifikan terhadap Purcahase Intention sebesar 47,80% dan sisanya sebesar 52,20% dipengaruhi oleh faktor lain. Sedangkan secara parsial Store Atmosphere berpengaruh signifikan terhadap Purchase Intention.
A Study on the Relationship Between Mean Years of Schooling, Literacy Skills Level of the Countries, and Their Level of Democratic Development

This study’s objective is to examine the relationship between the mean years of schooling, level of adult literacyskills, and democratic development levels. The study was designed as a relational survey model. The analyticsemployed is the path analysis, which tests the existence of causal relationship between the variables. The statisticalanalysis indicates that a significant and strong relationship exists between the mean years of schooling and adultliteracy skills and further that a significant, medium level, relationship is present between the countries’ adult literacyskills and their democratic development levels. Moreover, literacy skills create a significant mediation impact on therelationship between the mean years of schooling and democratic development level. Also significant is the indirectimpact of the nations’ mean years of schooling on their democratic development levels. Countries seeking to sustainand protect participative and deep democracy may need to review their formal and informal education policies.Therefore, it may be especially necessary to attach greater importance to cognitive-verbal processes in formaleducation institutions as a departure point of action.
Lentiviral vectors and transduction of human cancer B cells.

To the editor: A recent article by Hazan-Halevy et al assessed down-regulation of STAT3 in B-CLL cells (B-CLLs) using VSV-G pseudotyped lentiviral vectors (VSV-G-LVs) encoding for STAT3–small hairpin RNA (shRNA). [1][1] They reported a transduction of 40% to 70% with VSV-G-LVs in nonstimulated B-
Sorafenib with ASC‐J9® synergistically suppresses the HCC progression via altering the pSTAT3‐CCL2/Bcl2 signals

Sorafenib is currently used as a standard treatment to suppress the progression of hepatocellular carcinoma (HCC), especially in advanced stages. However, patients who receive Sorafenib treatment eventually develop resistance without clear mechanisms. There is a great need for better efficacy of Sorafenib treatment in combination with other therapies. Here, we demonstrated that the treatment combining Sorafenib with ASC‐J9® could synergistically suppress HCC progression via altering cell‐cycle regulation, apoptosis and invasion. Mechanism dissection suggests that while Sorafenib impacts little or even slightly increases the activated/phosphorylated STAT3 (p‐STAT3), a key stimulator to promote the HCC progression, adding ASC‐J9® significantly suppresses the p‐STAT3 expression and its downstream genes including CCL2 and Bcl2. Interrupting these signals via constitutively active STAT3 partially reverses the synergistic suppression of Sorafenib‐ASC‐J9® combination on HCC progression. In vivo studies further confirmed the synergistic effect of Sorafenib‐ASC‐J9® combination. Together, these results suggest the newly developed Sorafenib‐ASC‐J9® combination is a novel therapy to better suppress HCC progression.
THE EFFECTS OF PROBLEM-SOLVING STRATEGY AND LECTURE METHOD ON SOCIO-CULTURAL BELIEFS HINDERING SCIENCE LEARNING AT THE JUNIOR SECONDARY SCHOOL IN FCT ABUJA

A THESIS SUBMITTED TO THE POSTGRADUATE SCHOOL IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE MASTER OF SCIENCE EDUCATION DEPARTMENT OF EDUCATION FACULTY OF EDUCATION AHMADU BELLO UNIVERSITY ZARIA DECEMBER, 2008
QE 1 vs. 2 vs. 3. . . : A Framework for Analyzing Large-Scale Asset Purchases as a Monetary Policy Tool

We introduce large-scale asset purchases (LSAPs) as a monetary policy tool within a macroeconomic model.We allow for purchases of both long-term government bonds and securities with some private risks. We argue that LSAPs should be thought of as central bank intermediation that can affect the economy to the extent there exist limits to arbitrage in private intermediation. We then build a model with limits to arbitrage in banking that vary countercyclically and where the frictions are greater for private securities than for government bonds. We use the framework to study the impact of LSAPs that have the broad features of the different quantitative easing (QE) programs the Federal Reserve pursued over the course of the crisis. We find that (i) LSAPs work in the model in a way mostly consistent with the evidence; (ii) purchases of securities with some private risk have stronger effects than purchases of government bonds; (iii) the effects of the LSAPs depend heavily on whether the zero lower bound is binding. Our model does not rely on the central bank having a more efficient intermediation technology than the private sector: We assume the opposite.
Competency to Stand Trial on Trial

This Article considers the legal standards for the determination of competency to stand trial, and whether those standards are understood and applied by psychiatrists and psychologists in the forensic evaluations they perform and in the judgments they make - judgments that are routinely accepted by trial courts as their own judgments. The Article traces the historical development of the competency construct and the development of two competency standards. One standard, used today in eight states that contain 25% of the population of the United States, requires that the defendant be able to assist counsel in the conduct of a defense "in a rational manner. " The second, adopted by the Supreme Court in Dusky v. United States, 362 U.S. 402 (1960) as the Court's interpretation of the federal competency statute, requires that the defendant have an ability to consult with counsel with a reasonable degree of "rational understanding. " The "rational manner" standard seemingly focuses on the defendant's behavior; the "rational understanding" standard seemingly focuses on the defendant's thinking. The Article reports on a survey we conducted of 273 forensic psychiatrists and psychologists who were asked to read two case study vignettes and assess the competency of each criminal defendant using the "rational manner" standard, the "rational understanding" standard, and the federal statutory standard that merely requires that the defendant be able to "assist properly" in his or her defense. In one vignette, the defendant's thinking was irrational but his behavior was rational. In the other, the defendant's thinking was rational, but her behavior was irrational. In responding to both vignettes, more than three-fourths of all respondents either found the defendant competent under all three standards or incompetent under all three standards. Surprisingly, in answering the first vignette, the respondents divided almost equally in deciding whether the defendant was competent. The Article analyzes the results of the study and concludes with specific proposals to improve competency to stand trial assessments. Fairness to the defendant requires that the competency standard be clearly defined and applied by those who assess and determine competency.