Miracle-dz/UniFAR-FTUs huggingface dataset:
THE SEXUAL BEHAVIOUR OF TWO SIBLING DROSOPHILA SPECIES

1. The courtship behaviour of Drosophila melanogaster and D. simulans has been studied. Melanogaster is a generally more active species than simulans and its courtship is more vigorous. 2. The sexual behaviour of both types of male can be readily classified into the same basic elements, orientation, wing display, licking and attempted copulation. 3. Simulans males have longer lag periods before courtship, longer bouts of simple orientation, fewer changes of element when courting and their chief wing display is 'scissoring'. Melanogaster's chief wing display is 'vibration'. 4. Experiments in which the sexual stimulus situation was changed show that with lower stimulation melanogaster males show an increased proportion of scissoring, while with increased stimulation simulans males show more vibration. Additional reasons are given for considering scissoring to represent a lower level of sexual excitation than vibration. 5. The differences between the males can be most simply ascribed to simulans having a slower rise of sexual excitation during courtship than melanogaster, not to any changes in the basic organization of their behaviour. This slowed rise may be related to higher thresholds of response in simulans. 6. The females of simulans are more responsive to visual aspects of their males' courtship, and less responsive to those stimuli perceived by their antennae, than are melanogaster females. 7. It is argued that these changes in courtship behaviour probably resulted from selection acting upon a common ancestral population so as to favour high activity in some environments and low activity in others. These changes will be most readily produced by mutations affecting reaction thresholds and the changes to courtship pattern will follow. Selection will then favour females responsive to the most easily available stimuli from the males' courtship. 8. It is suggested that similar situations occur in other sibling Drosophila species and that as a first step in behavioural divergence, mutations affecting thresholds will be particularly important.
Political Momentum

We show that stock prices underreact when there is a political event, reflected in higher momentum returns. We conjecture that political news crowds out stock news cause investors to distract, trade more indexes and underreact to firm specific news. We analyze momentum returns following general election day, and find 8.8% increase in momentum portfolio return. Our channel to identify higher momentum after elections encompasses both rational and behavioral parts. The rational part is due to political uncertainty around elections, and the behavioral part is due to investors’ distraction. Using Google trend data, we posit that investors change their news priorities to focus more on political news, and so some stock news slips under the radar. In sum, momentum strategies outperform during election cycles because investors’ distraction to stock market news.
Evaluation of Broadleaf Weeds Control with Selectivity of Post-Emergence Herbicides in Sugar Beet ( Beta vulgaris L.)

The reduction of herbicide applications is a main research priority in recent years. In order to study the effect of individual post-emergence application of sugar beet broad-leaf herbicides at four to six true-leaf stage of weeds , experiments were conducted during 2013. Treatments included untreated control and several rates of desmedipham + phenmedipham + ethofumesate, chloridazon and clopyralid on Portulaca oleracea , Solanum nigrum , Amaranthus retroflexus and Chenopodium album . A completely randomized layout with three replications was used for each herbicide. Three weeks after spraying (WAS), plants were harvested and measured their dry weight. These herbicides were more effective to control Portulaca oleracea than other weeds, thereupon minimum dose required for a satisfactory efficacy of 90% reduction of Portulaca oleracea aboveground dry matter (ED 90 ) were 299.22, 1138.31 and 129.44 g a.i ha -1 of desmedipham + phenmedipham + ethofumesate, chloridazon and clopyralid, respectively. Solanum nigrum was more affected by clopyralid application ( 132.40 g a.i ha -1 ), and did not make significant difference in Portulaca oleracea . Chloridazon had lower effect for control of Chenopodium album due to existence of powdery covering on abaxial side of the leaves. Biomass ED 50 or ED 90 , based on log-logistic dose–response curves, for Chenopodium album was considerably higher than other species. These results showed that tank mixtures with other herbicides may be required for satisfactory weed control and reduction in applied herbicides doses.
The Regulation of Morphological Plasticity in Tropical Reef Algae by Herbivory

Many tropical algal species exhibit considerable morphological variation associated with different coral reef habitats, but the factors contributing to such variation have not been identified. Two strikingly distinct morphologies are described here for the common Caribbean alga Padina jamaicensis. These distinct morphologies are character- istically found in different reef habitats, and are shown to represent phenotypic responses to different levels of herbivorous fish grazing. Experimental reduction of grazing intensity in a high-herbivory reef habitat resulted in a rapid (96 h) morphological shift from a prostrate, highly branched turf morphology to an erect foliose morphology. Transplant experiments indicated that foliose Padina plants were preferentially consumed by herbiv? orous parrotfishes. These results suggest that morphological plasticity may represent an important adaptive strategy in some tropical algal species, enabling plants to persist in intensely grazed reef habitats while maintaining the ability to respond rapidly to spatial or temporal fluctuations in herbivory.
The Strategic Use of Swaps by Italian Regions

Swaps have been extensively employed by Governments and local administrations to manage their debt and related costs, but the financialisation of the public sector had insufficient attention in the literature. This study creates the first database on swaps underwritten by Italian regions to investigate their impact on total debt and their strategic use, i.e., impact on discretional debt. Panel data results show that regions with higher debt exhibit a larger interest rate exposure and have employed derivatives for strategic purposes in attempts to counter balance the reduced resources received from the central state, in line with other countries’ experience. Implications of results for regulators and governance of risks are provided. <br>
The Coskewness Puzzle

We propose a novel approach to testing non-linear stochastic discount factor (SDF) specifications that arise in rational representative investor models. Our approach does not require overly-restrictive assumptions about the shape of investors’ preferences, typically imposed by the extant literature, and is based instead on restrictions that rule out “good deals”, i.e. arbitrage opportunities as well as unduly large Sharpe ratios. We apply this framework to test the empirical admissibility of 3 and 4-moment versions of the CAPM. We find that, while coskewness and cokurtosis risk help price a number of stock strategies and portfolios, including static strategies based on a fine industry-level diversification, momentum strategies and portfolios managed on the basis of available information, the CAPM and its 3 and 4-moment versions cannot provide an exhaustive account of observed asset returns.
Can Stochastic Discount Factor Models Explain the Cross Section of Equity Returns?

We propose a multivariate test based on no-arbitrage conditions under the stochastic discount factor approach, which compares cross-sectional variation in equity returns to the cross-sectional variation in their conditional covariance with the discount factors. Using the multivariate generalized heteroskedasticity in mean model to estimate the 25 portfolios formed on size and book-to-market ratio, together each with its own arbitrage condition, we find that the no-arbitrage test rejects the consumption-based capital asset pricing model (C-CAPM). Although the conditional covariances of returns with consumption exhibit negative variation across size, they do not vary across the book-to-market ratio. Thus, the C-CAPM can capture size effect, but not value effect. Allowing the coefficients on the consumption covariances to be different largely improves the fit of the C-CAPM, however. The value effect appears to be associated with book-to-market ratio as well as size. Book-to-market ratio separately does not generate information about average returns that cannot be explained by the C-CAPM. One possible explanation for this extra dimension of risk is the investment growth prospect of firms. Low book-to-market ratio firms may be expected to have higher rates of growth while small firms may also be expected to behave similarly.
Efficiency Wages as Gift Exchange: Evidence from Corporate Innovation in China

Abstract This paper investigates the impact of rank-and-file employees on corporate innovation. We show that paying higher relative wages to rank-and-file employees promotes better innovation outcomes in terms of patent quantity and quality. This effect is more significant among firms with large proportions of skilled employees, industries with high levels of R&D intensity, provinces with competitive local labor markets, and non-SOEs. Further analyses reveal that efficiency wages can serve as an underlying economic channel that fosters innovation by retaining and attracting valuable human capital and stimulating their working enthusiasm. Finally, we show that technological innovation is a mechanism through which rank-and-file employees affect productivity growth and thereby affect the economy.
Realized Volatility Estimator Under Liquidity Effects

We analyze the behaviour of the realized volatility (RV) estimator under liquidity effects. The liquidity is measured by the impact of the trading volume on the asset price. We find that this estimator is inconsistent but convergent in probability. Motivated by this fact, we propose a new estimator which is consistent and asymptotically unbiased under a linear economy. Finally, our results are validated by a simulation and an empirical study.
Activity, Movements and Activity Area Size in Stinkpot Turtles (Sternotherus odoratus) in a Southwestern Michigan Lake

Abstract We used radio telemetry to evaluate activity area size, habitat use, diurnal activity, and the influence of weather, environmental temperatures and sex on daily movements in 18 Sternotherus odoratus in southwestern Michigan. Turtles mainly moved within the highly vegetated littoral zone but two individuals used wet meadow areas adjacent to the lake and an adjoining stream. Activity area size, as measured by the 95% fixed kernel method using 40 radio telemetry days per individual, did not vary between the sexes. Mean total daily distance moved (TDDM) over a 12 h time period averaged 27 m and was not influenced by sex or by variation in daily weather conditions. However, seasonal changes in environmental temperatures were positively correlated with mean daily shell temperature (Ts) and TDDM indicating limits on activity on relatively cool days. While turtles were found to move at any time over the course of a day, distances moved during six, 4 h intervals over a 24 h period were greatest during the late morning and late afternoon. Mean Ts was greatest during the afternoon but did not differ between the sexes and mean Ts was similar to prevailing water temperatures indicating that bimodal activity was probably not dictated by diel variation in temperature.
Are Concerns About Leveraged ETFs Overblown?

Leveraged and inverse exchange-traded funds (ETFs) have been heavily criticized for exacerbating volatility in financial markets because it is thought that they mechanically rebalance their portfolios in the same direction as contemporaneous returns. We argue that these criticisms are likely exaggerated because they ignore the effects of capital flows on ETF rebalancing demand. Empirically, we find that capital flows substantially reduce the need for ETFs to rebalance when returns are large in magnitude and, therefore, mitigate the potential for these products to amplify volatility. We also show theoretically that flows can completely eliminate ETF rebalancing in the limit.
Observed Inflation-Target Adjustments in an Estimated DSGE Model for Indonesia: Do They Matter for Aggregate Fluctuations?

This paper investigates the role of observed official inflation-target adjustments in aggregate macroeconomic fluctuations in Indonesia, using an estimated Dynamic Stochastic General Equilibrium (DSGE) model. The paper finds that these adjustments or shocks play a non-trivial role in the fluctuations of inflation and nominal interest rate in Indonesia. Output fluctuations, however, are virtually unaffected. A counterfactual exercise shows that a gradual reduction in Bank Indonesia's inflation target may have not been optimal. The paper also provides additional insights on the contribution of various shocks in driving aggregate fluctuations in Indonesia. Technology and monetary-policy shocks are found to be the main driving factor for both output and inflation fluctuations. Movements in the nominal interest rate are mostly driven by preference and risk-premium shocks, with inflation-target shocks playing a larger role in the longer run. The inclusion of inflation-target shocks in the model is also shown to improve the model's fit and out-of-sample predictive performance.
Morphological and genetic identification of the three pine pests of the genus Tomicus (Coleoptera, Scolytidae) in Europe

Abstract 1 Morphological characters were elaborated and part of the mitochondrial COI gene was sequenced in order to facilitate the determination of the three European pine bark beetles Tomicus piniperda, T. destruens and T. minor. The sequence information also provided the first information on the phylogenetic and phylogeographical relationships of these species. 2 Three hair rows were found on the antennal club of T. destruens between the second and third suture. Tomicus piniperda had only one row. Three different hair types were detected on the elytra – two hair types were found on T. piniperda, whereas the third hair type was only detected on the elytra of T. destruens. 3 The COI region (445 bp) revealed high sequence divergence among T. destruens, T. piniperda and T. minor. The three species proved to be monophyletic species with 16.98–19.23% sequence divergence. A phylogenetic approach placed T. minor and T. destruens as sister taxa, which contradicts the morphological findings. 4 European populations of T. piniperda shared two haplotypes, indicating a homogenous distribution of the genotypes. In the American populations only one of these European haplotypes was found. The Greek, Italian and Spanish T. destruens populations revealed three population‐specific haplotypes, indicating restricted gene flow. 5 Species‐specific primers were designed to allow a rapid and definitive determination of the two sibling Tomicus species by PCR.
Money, Cryptocurrency, and Monetary Policy

Can a cryptocurrency, Bitcoin, compete with central bank-issued money as a medium of exchange? We develop a search theoretic model where both money and Bitcoin can be used as a means of payment in transactions, and currency choices are endogenously determined. We analytically study the necessary condition for the coexistence of money and Bitcoin in equilibrium. We also calibrate the model to quantitatively study the effects of monetary policy and an increase in Bitcoin transaction fees on the economic activities and welfare. Our analysis shows that Bitcoin can meaningfully compete with money only when the inflation rate is sufficiently high, and also that the economic welfare in an economy with both money and Bitcoin is lower than that in a money-only economy due to the current inefficient mining process of Bitcoins. The welfare gap between the two economies expands as inflation rate increases. Furthermore, transaction fees for Bitcoins increases welfare in an economy where money and Bitcoin coexist. <br>
How Do Factor Premia Vary Over Time? A Century of Evidence

Evaluating how factor premia vary over time and across assets classes is challenging due to limited time series data, especially outside of U.S. equities. We examine four prominent factors across six asset classes over a century. We find little evidence for arbitrage activity influencing returns, though some novel evidence of overfitting biases. Using a host of conditioning information motivated by theory, we identify reliable conditional factor premia across markets, particularly when imposing economic restrictions. The variation appears unrelated to macroeconomic risks. The results have important implications for asset pricing theory, supporting theories of dynamic return premia.
Phylogeny of the water strider genus Aquarius Schellenberg (Heteroptera: Gerridae) based on nuclear and mitochondrial DNA sequences and morphology

We examined phylogenetic relationships among gerrid water striders of the genus Aquarius Schellenberg using molecular and morphological characters. The molecular data sets included 780 bp sequence data from the mitochondrial gene encoding cytochrome oxidase subunit I (COI), and 515 bp sequence data from the nuclear gene encoding elongation factor I alpha (EF-1α). The morphological data set was a slightly modified version of a previously published data set. We included all 17 known species and one subspecies of Aquarius as well as five species from three related genera, Gigantometra gigas, Limnoporus esakii, L. rufoscutellatus, Gerris pingreensis, and G. lacustris. Unweighted parsimony analyses of the COI data set gave a single most parsimonious tree (MPT) with a topology quite similar to the morphological tree. Parsimony analyses of the EF-1α data set gave 3 MPT's and a strict consensus of these trees gave a tree with a slightly different topology. A combined analysis of the three data sets gave a single MPT with the same topology as for the morphological data set alone. The phylogeny of Aquarius presented here supports the monophyly of the A. najas, remigis, conformis and paludum species groups as well as previous hypotheses about their relationships. On the other hand, the inclusion of molecular data weakens the support for the monophyly of the genus Aquarius, and questions the specific status of the eastern North American A. nebularis (as separate from A. conformis) and members of the Nearctic A. remigis group. Finally, we discuss the implications of the reconstructed phylogeny in the biogeography and ecological phylogenetics of Aquarius.
The Wagner Parsimony using morphological characters: a new method for palaeosynecological studies

Abstract The limits and difficulties related to the tools currently in use for palaeosynecological comparisons of faunas or floras of different geological periods are discussed. The new method of the Wagner parsimony Applied to Palaeosynecology Using Morphology (WAPUM method), is defined and tested on morphological characters gathered from two insect groups Odonatoptera and Thripida. The difficulties related to the monophyly of the taxonomic groups used in the more traditional approaches are no longer a problem when using the WAPUM method. In the WAPUM a character is ‘presence versus absence of species bearing a morphological structure’. The results obtained from use of the WAPUM minimize the number of changes among character states. Application of the WAPUM could reveal signals to confirm or object the currently available scenarios for the global changes in the evolution of past diversity and disparity of organisms (major changes or global crises of diversity).
Prevalence of intestinal parasites in Etulo, Benue State, Nigeria

Indigenous Etulo people of Benue State were screened for the prevalence of intestinal parasites. Overall, 703, subjects from the twelve villages were screened using a simple and rapid concentration technique (Nigrosin methylene blue). Nine different species of parasites were found among the people thus: Entamoeba coli – 65 (9%), Entamoeba histolytica – 53 (7%), Ascaris lumbricoides – 89 (12%), Enterobius vermicularis – 16 (2%), hookworm – 32 4(46%), Hymenolepsis nana – 9 (1%) Trichuris trichuria – 25 (3%), Taenia saginata – 4 (0%) and Schistosoma mansoni – 4 (0%). Although, the results were based on a relatively small cross section of volunteers who provided stool samples for examination, the findings can be said to have provided information which was seldom available among those people that lack toilet facility, potable water, good hygiene and sanitation. Keywords : Intestinal parasites, hygiene, water, Nigeria. Nigerian Journal of Parasitology Vol. 27 2006: pp. 1-6
A Behavioral Interpretation of the NAV Discount Puzzle in Listed Real Estate Companies (Version Aug 2017)

The NAV discount is a long standing puzzle in the listed real estate context. In this paper we extend the existing literature’s rational and noise trader explanations by exploring the influence of specific irrational behaviors. Based on behavioral biases identified in the stock and real estate markets, we hypothesize the existence of a relationship between lagged NAV growth and the NAV discount. The findings provide initial evidence of trend-chasing behavior between the dual real estate markets. The results have broader implications for the perception of the relationship between public and private real estate markets.
Monitoring Bird Populations by Point Counts

This volume contains in part papers presented at the Symposium on Monitoring Bird Population Trends by Point Counts, which was held November 6-7, 1991, in Beltsville, Md. , in response to the need for standardization of methods to monitor bird populations by point counts. Data from various investigators working under a wide variety of conditions are presented, and various aspects of point count methodology are examined. Point counts of birds are the most widely used quantitative method and involve an observer recording birds from a single point for a standardized time period. Statistical aspects of sampling and analysis were discussed and applied to the objectives of point counts. Symposium participants agreed upon standards of point counts that should have wide applicability to a variety of habitats and terrain.
Private Placement and Rights Issue Cycles

The paucity of rights issues in the US and the effect of the imputation tax system on share issuance in Australia allow us to examine the drivers of seasoned equity offerings (SEOs) in a unique setting. This paper provides a comprehensive examination of the factors (information asymmetry, demand for capital, market timing and investor sentiment) that cause the number of seasoned equity offerings to vary over time. We find that in an imputation environment, cycles in total SEO issuance and private placements are driven by the demand for capital, whereas rights issue cycles are driven by investor sentiment. Our results suggest that as firms require capital for investment there will be an increase in SEOs driven by placements and that firms increasingly utilise rights issues when investor sentiment is high, thereby reducing the risk inherent in rights issues.