Miracle-dz/UniFAR-FTUs huggingface dataset:
Upper and Lower Bounds of Put and Call Option Value: Stochastic Dominance Approach

Applying stochastic dominance rules with borrowing and lending at the risk-free interest rate, we derive upper and lower values for an option price for all unconstrained utility functions and alternatively for concave utility functions. The derivation of these bounds is quite general and fits any kind of stock price distribution as long as it is characterized by a "nonnegative beta. " Transaction costs and taxes can be easily incorporated in the model presented here since investors are not required to revise their portfolios continuously. The "price" that is paid for this generalization is that a range of values rather than a unique value is obtained. IN THE LAST DECADE, there has been an increasing interest in the options market by both academicians and practitioners. The most well-known valuation models are the Black-Scholes [4] model, the jump stochastic process model (see Cox and Ross [6]), the binomial model (see Cox, Ross, and Rubinstein [7], Rendleman and Bartler [19], and Sharpe [22]), and Rubinstein's discrete model [21]. Recently, Perrakis and Ryan [18], using Rubinstein's approach, have derived upper and lower bounds for option prices. ' The relative pricing theory of contingent claims differs in the continuous time and discrete time models. In a continuous time framework, the instantaneous expected rate of return of the option and that of the underlying stock must follow a certain market equilibrium condition. In this case, the equilibrium condition is easily determined by a continuous hedging strategy. In the discrete time case, there is no hedging strategy to provide a simple relationship between the option and the stock price. However, for a given value distribution of the stock, the value distribution of the option is uniquely determined by the option exercise price, and this suggests some possible relationships between the stock and option values.
Psychological Approaches for Investigating Women's Career Advancement

The investigation by psychologists of women's work-rôle achievements and career advancement, especially into the managerial rôle, is classified into two broad categories of conceptual approach. The traditional orientation, emphasising person-centred explanations for women's lack of advancement, is contrasted with the more contemporary approaches, which consider the person in relation to contextual factors. It is argued that social cognition theory, with its emphasis on the interplay between background or given influences, cognitive-personal factors, and environmental conditions presents a more useful psychological framework for research into women's career advancement.
Combined wedge resection and relaxing incisions for astigmatism after penetrating keratoplasty.

BACKGROUND Videokeratography may provide information for surgical correction of astigmatism after penetrating keratoplasty. We used a combination of wedge resection and relaxing incisions to treat high refractive astigmatism after penetrating keratoplasty. METHODS Videokeratography using the normalized scale of the Topographic Modeling System was used as a guide in determining the location and the length of incisions and resections. Nine eyes were treated with both relaxing incisions and a wedge resection. All patients had more than 3.00 diopters (D) of refractive astigmatism. All patients were intolerant of spectacles or contact lenses. The depth of the corneal relaxing incisions was constant at 0.5 mm and the width of the corneal wedge resections was constant at 0.75 mm. RESULTS The relaxing incisions produced flattening of the steeper meridian and the wedge resection produced steepening of the flatter meridian. The average preoperative keratometric astigmatism was 7.44 D (range, 3.50 to 11.00 D) and the average refractive astigmatism was 5.56 D (range, 4.00 to 8.00 D). The average preoperative spherical equivalent was 0.08 D (range, -7.00 to 4.25 D). Postoperatively, the average keratometric astigmatism was 2.97 D (range, 1.00 to 5.00 D) and the average refractive astigmatism was 2.58 D (range, 0.00 to 5.00 D). The average postoperative spherical equivalent refraction was -0.32 D. CONCLUSIONS Combined corneal wedge resection and relaxing incisions appears to be effective in reducing high refractive astigmatism following corneal transplantation.
The Aggregated Spatial Logit Model: Theory, Estimation And Application

In problems of spatial choice, the choice set is often more aggregated than the one considered by decision-makers, typically because choice data are available only at the aggregate level. These aggregate choice units will exhibit heterogeneity in utility and in size. To be consistent with utility maximization, a choice model must estimate choice probabilities on the basis of the ma.ximum utility within heterogeneous aggregates. The ordinary multinomial logit model (OMNL) applied to aggregate choice unitS fails this criterion as it is estimated on the basis of average utility. In this thesis, the aggregated spatiallogit model, which utilizes the theory underlying the nested logit model to estimate the appropriate maximum utilities of aggregates, is derived and discussed. Initially, the theoretical basis for the model is made clear and an asymptotic version of the model is derived. Secondly, the model is tested in a simulated environment to demonstrate that the OMNL model lacks the generality of the aggregated model in the presence of heterogeneous aggregates. Thirdly, full endogenous estimation of the aggregated model is studied with a view toward finding the best optimization algorithm. Finally, with all the elements in place, the model is tested in an application of migration from the Canadian Atlantic Provinces.
Complications and hospital stay after surgery for breast cancer: A prospective study of 385 patients

General complications, wound complications and hospital stay after surgery for operable mammary carcinoma were studied prospectively in 385 patients treated by either modified radical mastectomy (324 operations) or segmental resection with axillary dissection (71 operations). The overall infection rate was 3·6 per cent. Postoperative seromas were noted in 34·8 per cent of the wounds. Other complications were few. The average hospital stay was 7·2 days. Seventeen per cent of the total number of days in hospital for these patients were due to factors other than the mammary cancer.
Remark on Repo and Options

The general and special repo rates are related with the prices of the European call- and American put-options. The evaluation takes into account specific business models of the parties in the repo agreement and the law restrictions. Using the repo-option relation, an alternative to the Black-Scholes method of option pricing is presented. The empirical data on the general and special repo rates are explained.
On The Determinants of Derivative Usage by Australian Companies

This paper provides an examination of the determinants of derivative use by Australian corporations. We analysed the characteristics of a sample of 469 firm/year observations drawn from the largest Australian publicly listed companies in 1999 and 2000 to address two issues: the decision to use financial derivatives and the extent to which they are used. Logit analysis suggests that a firm's leverage (distress proxy), size (financial distress and setup costs) and liquidity (financial constraints proxy) are important factors associated with the decision to use derivatives. These findings support the financial distress hypothesis while the evidence on the underinvestment hypothesis is mixed. Additionally, setup costs appear to be important, as larger firms are more likely to use derivatives. Tobit results, on the other hand, show that once the decision to use derivatives has been made, a firm uses more derivatives as its leverage increases and as it pays out more dividends (hedging substitute proxy). The overall results indicate that Australian companies use derivatives with a view to enhancing the firms' value rather than to maximizing managerial wealth. In particular, corporations' derivative policies are mostly concerned with reducing the expected cost of financial distress and managing cash flows. Our inability to identify managerial influences behind the derivative decision suggests a competitive Australian managerial labor market.
Epstein‐Barr virus‐induced membrane antigens: Immunochemical characterization of triton X‐100 solubilized viral membrane antigens from EBV‐superinfected raji cells

In an attempt to qualitatively identify the membrane antigen (MA) complex induced by Epstein‐Barr virus (EBV) infection of lymphoblastoid cells, superinfected Raji cells were surface labelled with 125I by the lactoperoxidase method and solubilized with Triton X‐100, then the 125(‐labelled membrane proteins were precipitated by sera containing high antibody titers to MA. Analysis of these immune precipitates on sodium dodecyl sulfate polyacrylamide gel electrophoresis identified four major EBV‐specific membrane proteins with molecular weights (mol. wt) of 280,000, 250,000, 170,000 and 90,000. Sera from patients with Burkitt's lymphoma (BL), nasopharyngeal carcinoma (NPC) and infectious mononucleosis (IM) and from EBV‐infected disease‐free individuals showed differential patterns of reactivity to these antigens with some sera only recognizing three or less of the antigens. The results from investigations with these sera also indicated that these major proteins were not related to EBV‐induced viral capsid antigens (VCA) or the virus‐associated early antigen (EA) complexes as defined by immunofluorescence. Metabolic labelling of EBV‐infected Raji cells with [14C]glucosamine, followed by Triton X‐100 solubilization and radioimmune precipitation, identified the 280,000, 250,000 and 90,000 components as glycoproteins. The lactoperoxidase‐labelled 170,000 molecular weight component was not significantly glycosylated and, therefore, could not be categorized as a glycoprotein on the basis of this study. In addition, a glycoprotein with a mol. wt of 130,000 was identified by this approach which also appeared to be specified by EBV. The results from these investigations, therefore, indicated that the EBV‐induced MA complex was composed of four major glycoproteins and one non‐glycosylated high mol. wt protein.
A Spatiotemporal Solution for the Simultaneous Sale Price and Time‐on‐the‐Market Problem

There exists an important methodological challenge when dealing with sale price and time-on-the-market variables because both variables are simultaneously determined and related to the motivation of the sellers and buyers. Exploiting the fact that transactions occur over space and time, we propose a two-stage approach based on instrumental variables (IV) built from information collected from previous transactions. The unidirectional temporal property and the fact that other transactions are exogenous from the perspective of a single buyer or seller are exploited to evaluate the effect of the sale price on time-on-the-market, and the effect of time-on-the-market on the sale price. Based on 29,471 transactions occurring in the suburban neighborhood of Montreal (1992-2000), the results suggest that, everything else being equal, houses staying longer on the market provide negative information to the market, which results in a lower final sale price, while the final sale price is negatively related to time-on-the-market, indicating that houses of better quality (better amenities) stay less time on the market.
Matching vs Differencing when Estimating Treatment Effects with Panel Data: the Example of the Effect of Job Training Programs on Earnings

This paper compares matching and Difference-In-Difference matching (DID) when estimating the effect of a program on a dynamic outcome. I detail the sources of bias of each estimator in a model of entry into a Job Training Program (JTP) and earnings dynamics that I use as a working example. I show that there are plausible settings in which DID is consistent while matching on past outcomes is not. Unfortunately, the consistency of both estimators relies on conditions that are at odds with properties of earnings dynamics. Using calibration and Monte-Carlo simulations, I show that deviations from the most favorable conditions severely bias both estimators. The behavior of matching is nevertheless less erratic: its bias generally decreases when controlling for more past outcomes and it generally provides a lower bound on the true treatment effect. I finally point to previously unnoticed empirical results that confirm that DID does well, and generally better than matching on past outcomes, at replicating the results of an experimental benchmark.
Has improved health care provision impacted on the obstetric outcome in teenage women?

Objective: To determine the obstetric outcome in teenage women managed in the recent decade with easily accessible health care provision. Methods: In a retrospective cohort study, maternal demographics, underlying medical conditions, obstetric complications, preterm birth, type of labor, mode of delivery, and perinatal mortality were compared between 1505 women aged ≤19 years (study group) with 10,320 women aged 20–24 years (comparison group), who were carrying singleton pregnancies beyond 24 weeks of gestation and managed in our hospital between January 1998 and June 2008. Results: The study and comparison groups accounted for 2.2% and 15.1% respectively of the total deliveries. Despite comparable health status and rates of other obstetric complications, teenage women was associated with birth <34 weeks (aOR 2.45, 95% CI 1.67–3.60), birth at 34–36 weeks (aOR 2.13, 95% CI 1.71–2.65), and reduced instrumental vaginal (aOR 0.62, 95% CI 0.50–0.77) and caesarean (aOR 0.79, 95% CI 0.64–0.97) delivery, without increase in perinatal mortality. Conclusions: Teenage women had increased preterm birth, despite improved health care provision, nutrition, and similar incidence of other obstetric complications, but the obstetric and perinatal outcome remained favorable.
When Less is More: The Dominance of Subject-Content in the Teaching of Undergraduate Social Policy

This article explores the implications of expanding content in undergraduate Social Policy. Although the problem of curriculum content is not unique to Social Policy, particular features exacerbate the issue. These include the relationship of the subject to other disciplines, and to wider political and social issues. Dominance of content is argued to limit the aims of teaching, squeezing out skills development. It also restricts the methods employed. Content dominance also contributes to the development of a deficit model of students. The article is based on data drawn from semi-structured interviews with 46 lecturers working in universities across the UK.
A Bacterial Artificial Chromosome Transgene with Polymorphic Cd72 Inhibits the Development of Glomerulonephritis and Vasculitis in MRL-Faslpr Lupus Mice

Systemic lupus erythematosus is considered to be under the control of polygenic inheritance, developing according to the cumulative effects of susceptibility genes with polymorphic alleles; however, the mechanisms underlying the roles of polygenes based on functional and pathological genomics remain uncharacterized. In this study, we substantiate that a CD72 polymorphism in the membrane-distal extracellular domain impacts on both the development of glomerulonephritis and vasculitis in a lupus model strain of mice, MRL/MpJ-Faslpr, and the reactivity of BCR signal stimulation. We generated mice carrying a bacterial artificial chromosome transgene originating from C57BL/6 (B6) mice that contains the Cd72b locus (Cd72B6 transgenic [tg]) or the modified Cd72b locus with an MRL-derived Cd72c allele at the polymorphic region corresponding to the membrane-distal extracellular domain (Cd72B6/MRL tg). Cd72B6 tg mice, but not Cd72B6/MRL tg mice, showed a significant reduction in mortality following a marked improvement of disease associated with decreased serum levels of IgG3 and anti-dsDNA Abs. The number of splenic CD4−CD8− T cells in Cd72B6 tg mice was decreased significantly in association with a reduced response to B cell receptor signaling. These results indicate that the Cd72 polymorphism affects susceptibility to lupus phenotypes and that novel functional rescue by a bacterial artificial chromosome transgenesis is an efficient approach with wide applications for conducting a genomic analysis of polygene diseases.
Backward-looking and forward-looking notional-defined-contribution pension schemes

In order to spread notional capital accrued at retirement by members of a cohort over life expectancy, pay-as-you-go notional-defined-contribution (payg-ndc) scheme uses multipliers (different by retirement age) called conversion coefficients. These are backward-looking (b.l.) in that they relay on survival rates observed for previous cohorts in the past. Under increasing longevity, b.l. coefficients undervalue life expectancy, thus preventing full implementation of actuarial fairness (benefits equivalent to contributions)which is the main objective of ndc scheme. They also engender chronic deficits. Forward-looking (f.l.) coefficients, relaying on survival rates forecast for the cohort whom coefficients themselves are assigned to, can improve actuarial fairness. Nevertheless, they face a rather serious political difficulty in that forecasting tools are fallible. This explains why switching to f.l. coefficients is unable to gain social consensus. Abstracting from this, the paper shows that forward-looking coefficients produce ‘overshooting’. In fact, they generate chronic surpluses. The paper also shows that frontloading pension profile helps sustainability because it reduces both surpluses and deficits generated, respectively, by f.l. and b.l. approaches
A Heterogeneous Resource Based View for Exploring Relationships between Firm Performance and Capabilities

The resource-based view (RBV) of the firm has gained much attention in recent years as a means to understand how a strategic business unit obtains a sustainable competitive advantage. In this framework, several research studies have explored the relationships between resources/capabilities and firm performance. This paper seeks to extend this line of research by explicitly modeling the heterogeneity of such relations across firms in various different industries in exploring the interrelationships between capabilities and performance. A unique latent structure regression model is developed to provide a discrete representation of this heterogeneity in terms of different clusters or groups of firms who employ different paths to achieve firm performance vis-a-vis alternative capabilities. An application of the proposed methodology to a sample of 216 US firms were provided. The paper finds that the derived four group latent structure regression solution statistically dominates the one aggregate sample regression function. Substantive interpretation for the findings is provided. The paper contributes to the understanding of the performance effects of investing in capabilities in the RBV framework.
Studies of effects of macromolecular crowding and confinement on protein folding and protein stability

In cells, proteins execute specific tasks in crowded environments; these environments influence their stability and dynamics. Similarly, for an enzyme molecule encapsulated in an inorganic cavity as in biosensors or biocatalysts, confinement or excluded volume plays an important role in its stability and dynamics. In this article we present results of our experimental and theoretical investigations of the confinement and macromolecular crowding effects on protein. On the experimental side we study the stability of encapsulated cytochrome c against unfolding induced by the presence of denaturants, such as urea. Results show that, as the pore size in which protein is trapped is reduced, protein shows higher stability against denaturant‐induced unfolding. On the theoretical side, after reviewing our previous study of the confinement effects on the equilibrium and dynamic properties of protein using a minimalist (two‐dimensional lattice, Monte Carlo, Brownian dynamics) model, we have extended the model so that the effects of macromolecular crowding on such properties can be studied. Our simulations show that both folding and unfolding times increase with the number of crowders in solution, however, the equilibrium constant is affected such that the equilibrium is shifted towards the folded state. Furthermore, our results show that, for a fixed number of crowders as the size of crowder (or excluded volume) increases, the average size of protein at equilibrium decreases. Copyright © 2004 John Wiley & Sons, Ltd.
Associations of tumor necrosis factor G-308A with childhood asthma and wheezing.

RATIONALE Tumor necrosis factor (TNF) mediates a spectrum of airway inflammatory responses, including those to air pollutants, and is an asthma candidate gene. One TNF promoter variant (G-308A) affects expression of TNF and has been associated with inflammatory diseases; however, studies of asthma have been inconsistent. Because ozone produces oxidative stress, increased airway TNF, and inflammation, the associations of the -308 TNF polymorphism with asthma may vary by ozone exposure and variants of oxidant defense genes glutathione-S-transferase (GST) M1 and GSTP1. OBJECTIVES To investigate the association of TNF G-308A with asthma and wheezing and to determine whether these associations vary with ozone exposure and GSTM1 and GSTP1 genotype. METHODS We studied associations of TNF-308 genotype with lifetime and current wheezing and asthma among 3,699 children in the Children's Health Study. We examined differences in associations with community ozone and by GSTM1 null and GSTP1 105 Ile/Val (A105G) genotype. RESULTS Children with TNF-308 GG had decreased risk of asthma (odds ratio, 0.8; 95% confidence interval, 0.7-0.9) and lifetime wheezing (odds ratio, 0.8; 95% confidence interval, 0.7-0.9). The protective effects of GG genotype on wheezing outcomes were of greater magnitude in lower compared with higher ozone communities. These findings were replicated in the two cohorts of fourth-grade children recruited in 1993 and 1996. The reduction of the protective effect from the -308 GG genotype with higher ozone exposure was most marked in the GSTM1 null and GSTP1 Ile/Ile groups. CONCLUSIONS The TNF-308 GG genotype may have a protective role in asthma pathogenesis, depending on airway oxidative stress levels.
DeepPath: A Reinforcement Learning Method for Knowledge Graph Reasoning

We study the problem of learning to reason in large scale knowledge graphs (KGs). More specifically, we describe a novel reinforcement learning framework for learning multi-hop relational paths: we use a policy-based agent with continuous states based on knowledge graph embeddings, which reasons in a KG vector-space by sampling the most promising relation to extend its path. In contrast to prior work, our approach includes a reward function that takes the accuracy, diversity, and efficiency into consideration. Experimentally, we show that our proposed method outperforms a path-ranking based algorithm and knowledge graph embedding methods on Freebase and Never-Ending Language Learning datasets.
Quinidine as a probe for CYP3A4 activity: Intrasubject variability and lack of correlation with probe‐based assays for CYP1A2, CYP2C9, CYP2C19, and CYP2D6

In vitro studies have shown that the formation of 3‐hydroxyquinidine from quinidine is catalyzed almost exclusively by CYP3A4. In vivo this result has been supported in various interaction studies, and the use of this reaction as an in vivo biomarker reaction of CYP3A4 activity has been suggested. We studied the possible correlation of the formation clearance of 3‐hydroxyquinidine with probe‐based assays for CYP1A2, CYP2C9, CYP2C19, and CYP2D6. Descriptive analyses of the outcome of various biomarker reactions were performed.