Miracle-dz/UniFAR-FTUs huggingface dataset:
A formula for the economic value of return predictability

This paper provides a formula for a commonly used measure of the economic value of asset return predictability. In doing this, we find that there is a strong connection between this measure and a traditional statistical measure of predictive quality. In particular, we demonstrate that the maximum amount an investor is willing to pay for predictability knowledge (the performance fee) is a simple transformation of the R 2 statistic associated with the predictor equation. We illustrate the use of these results with an application to the Ibbotson US bond and equity data (and a set of pertinent predictors), and via application to the results published in Fama and French [1988. Dividend yields and expected stock returns. Journal of Financial Economics 22: 3–25], Balvers, Cosimano, and McDonald [1990. Predicting stock returns in an efficient market. Journal of Finance 45: 1109–28], Lettau and Ludvigson [2001. Consumption, aggregate wealth and expected stock returns. Journal of Finance 56: 815–49], and Santa-Clara and Yan [2010. Crashes, volatility, and the equity premium: Lessons from S&P 500 options. Review of Economics and Statistics 92: 435–51].
Myopia and Discounting

We assume that perfectly patient agents estimate the value of future events by generating noisy, unbiased simulations and combining those signals with priors to form posteriors. These posterior expectations exhibit as-if discounting: agents make choices as if they were maximizing a stream of known utils weighted by a discount function, D(t). This as-if discount function reflects the fact that estimated utils are a combination of signals and priors, so average expectations are optimally shaded toward the mean of the prior distribution, generating behavior that partially mimics the properties of classical time preferences. When the simulation noise has variance that is linear in the event's horizon, the as-if discount function is hyperbolic, D(t)=1/(1+a t). Our agents exhibit systematic preference reversals, but have no taste for commitment because they suffer from imperfect foresight, which is not a self-control problem. In our framework, agents that are more skilled at forecasting (e.g., those with more intelligence) exhibit less discounting. Agents with more domain-relevant experience exhibit less discounting. Older agents exhibit less discounting (except those with cognitive decline). Agents who are encouraged to spend more time thinking about an intertemporal tradeoff exhibit less discounting. Agents who are unable to think carefully about an intertemporal tradeoff – e.g., due to cognitive load – exhibit more discounting. In our framework, patience is highly unstable, fluctuating with the accuracy of forecasting.
On Jumps in Common Stock Prices and Their Impact on Call Option Pricing

The Black-Scholes call option pricing model exhibits systematic empirical biases. The Merton call option pricing model, which explicitly admits jumps in the underlying security return process, may potentially eliminate these biases. We provide statistical evidence consistent with the existence of lognormally distributed jumps in a majority of the daily returns of a sample of NYSE listed common stocks. However, we find no operationally significant differences between the Black-Scholes and Merton model prices of the call options written on the sampled common stocks.
Perceptions Among Women With Gestational Diabetes

Women with gestational diabetes are at high risk of developing type 2 diabetes, which could be prevented or delayed by lifestyle modification. Lifestyle interventions need to take into account the specific situation of women with gestational diabetes. We aimed to gain a deeper understanding of women’s experiences of gestational diabetes, their diabetes risk perceptions, and their views on type 2 diabetes prevention, to inform future lifestyle interventions. We conducted a metasynthesis that included 16 qualitative studies and identified 11 themes. Factors that require consideration when developing a type 2 diabetes prevention intervention in this population include addressing the emotional impact of gestational diabetes; providing women with clear and timely information about future diabetes risk; and offering an intervention that fits with women’s multiple roles as caregivers, workers, and patients, and focuses on the health of the whole family.
Frameshift mutations of autophagy‐related genes ATG2B, ATG5, ATG9B and ATG12 in gastric and colorectal cancers with microsatellite instability

Mounting evidence indicates that alterations of autophagy processes are directly involved in the development of many human diseases, including cancers. Autophagy‐related gene (ATG) products are main players in the autophagy process. In humans there are 16 known ATG genes, of which four (ATG2B, ATG5, ATG9B and ATG12) have mononucleotide repeats with seven or more nucleotides. Frameshift mutations of genes with mononucleotide repeats are features of cancers with microsatellite instability (MSI). It is not known whether ATG genes with mononucleotide repeats are altered by frameshift mutations in gastric and colorectal carcinomas with MSI. For this, we analysed the mononecleotide repeats in ATG2B, ATG5, ATG9B and ATG12 in 32 gastric carcinomas with high MSI (MSI‐H), 13 gastric carcinomas with low MSI (MSI‐L), 43 colorectal carcinomas with MSI‐H and 15 colorectal carcinomas with MSI‐L by a single‐strand conformation polymorphism (SSCP) analysis. We found ATG2B, ATG5, ATG9B and ATG12 mutations in 10, 2, 13 and 0 cancers, respectively. The mutations were detected in MSI‐H cancers but not in MSI‐L cancers. Gastric and colorectal cancers with MSI‐H harboured one or more ATG mutations in 28.1% and 27.9%, respectively. Our data indicate that frameshift mutations in ATG genes with mononucleotide repeats are common in gastric and colorectal carcinomas with MSI‐H, and suggest that these mutations may contribute to cancer development by deregulating the autophagy process. Copyright © 2008 Pathological Society of Great Britain and Ireland. Published by John Wiley & Sons, Ltd.
Successful Cross-border Acquisitions of Latin American Financial Institutions: Identifying Success Factors

This article examines the shareholder wealth effects for foreign companies that announce acquisitions of financial institutions in Latin America. We examine data for 636 transactions for the period 1985–2009. We employ event study methodology coupled with a cross-sectional regression to determine if shareholders of the acquiring firm receive positive returns. The results indicate that acquirers receive positive returns when the acquisition involves a target bank in a market with low market access, high market risk, and greater control post acquisition. These findings offer improvements on previously examined variables and provide insight into a market not sufficiently examined in prior research.
Application of bone scans for prostate cancer staging: Which guideline shows better result?

INTRODUCTION We evaluated the accuracy of current guidelines by analyzing bone scan results and clinical parameters of patients with prostate cancer to determine the optimal guideline for predicting bone metastasis. METHODS We retrospectively analyzed patients who were diagnosed with prostate cancer and who underwent a bone scan. Bone metastasis was confirmed by bone scan results with clinical and radiological follow-up. Serum prostate-specific antigen, Gleason score, percent of positive biopsy core, clinical staging and bone scan results were analyzed. We analyzed diagnostic performance in predicting bone metastasis of the guidelines of the European Association of Urology (EAU), American Urological Association (AUA), and the National Comprehensive Cancer Network (NCCN) guidelines as well as Briganti's classification and regression tree (CART). We also compared the percent of positive biopsy core between patients with and without bone metastases. RESULTS A total 167 of 806 patients had bone metastases. Receiver operating curve analysis revealed that the AUA and EAU guidelines were better for detecting bone metastases than were Briganti's CART and NCCN. No significant difference was observed between AUA and EAU guidelines. Patients with bone metastases had a higher percent positive core than did patients without metastasis (the cut-off value >55.6). CONCLUSION The EAU and AUA guidelines showed better results than did Briganti's CART and NCCN for predicting bone metastasis in the enrolled patients. A bone scan is strongly recommended for patients who have a higher percent positive core and who meet the EAU and AUA guidelines.
Towards autonomous landing on a moving vessel through fiducial markers

This paper propose an autonomous landing method for unmanned aerial vehicles (UAVs), aiming to address those situations in which the landing pad is the deck of a ship. Fiducial marker are used to obtain the six-degrees of freedom (DOF) relative-pose of the UAV to the landing pad. In order to compensate interruptions of the video stream, an extended Kalman filter (EKF) is used to estimate the ship's current position with reference to its last known one, just using the odometry and the inertial data. Due to the difficulty of testing the proposed algorithm in the real world, synthetic simulations have been performed on a robotic test-bed comprising the AR Drone 2.0 and the Husky A200. The results show the EKF performs well enough in providing accurate information to direct the UAV in proximity of the other vehicle such that the marker becomes visible again. Due to the use of inertial measurements only in the data fusion process, this solution can be adopted in indoor navigation scenarios, when a global positioning system is not available.
Complete Genome Sequence of Chlamydia trachomatis Ocular Serovar C Strain TW-3

ABSTRACT Chlamydia trachomatis is the etiological agent of trachoma, the leading infectious cause of blindness worldwide. We report here the first complete and annotated genome of a C. trachomatis trachoma-causing serovar C strain (strain TW-3). The chromosome and plasmid are 1,043,554 bp and 7,501 bp in length, respectively.
Job satisfaction in aging workforces: an analysis of the USA, Japan and Germany

In light of the dramatically aging workforces in many industrialized countries, age diversity management will become a major challenge in human resource management. To successfully handle an age-diverse workforce, it is crucial to understand how employees of different ages can be motivated. This paper analyzes age's moderating role in the relationship between situational job characteristics and job satisfaction. To control for the potential influence of the cultural and institutional context, we use data from the USA, Japan and Germany. Findings show that older employees' job satisfaction is driven by different factors than younger employees: older employees put more emphasis on good relationships with colleagues, while income, advancement opportunities, job security and having an interesting job are less important. However, these effects are mostly nation-dependent, which underlines the importance of conducting cross-cultural or cross-national aging research.
Urinary proteomics and metabolomics in the diagnosis of pediatric disorders

Proteomics is the study of structures and functions of proteins, while metabolomics is the study of small‐molecule metabolites in the cells, tissues, and organs of the organism. Proteomic technologies have wide applications in medical field. The current revolution in proteomics has led to the discovery of several new protein markers for various disorders. Urinary proteomics and metabolomics have also evolved in the recent years, for the diagnosis of both renal and nonrenal disorders. The urinary proteome varies in normal and abnormal conditions. Different techniques are employed for the analysis of pediatric urinary proteome, the commonest being MS. Before introduction into clinical use, there is the need for careful standardization. Available data suggest that there are differences in urinary proteome between adult and pediatric populations. It is noted that infant urine contains proteins involved in translation and transcription, cellular growth, and metabolic processes, which are not predominant in adult urine. Available data on urinary proteomic and metabolomic profile in common pediatric disorders are also reviewed here.
How Do Harvest Rates Affect Angler Trip Patterns?

Abstract Incorporating catch or harvest rate information in repeated-choice recreation fishing demand models is challenging, since multiple sources of information may be available and detail on how harvest rates change within a season is often lacking. This article develops a theoretically consistent harvest expectations repeated mixed logit angling demand model that can be used to evaluate the contributions made by different sources of information in predicting observed patterns of fishery participation and trip frequency. In an application to saltwater salmon fishing in Alaska, we find that both of the two available harvest rate information sources contribute to better predictions and should be used. In addition, information on whether a species is being targeted makes a significant improvement to model performance. Model tests indicate that non-targeted species have a significant marginal utility and it is different from the marginal utility of targeted species. The median value of a fishing choice occasion is approximately $49 per angler, which translates to a season of fishing being valued at a little over $2,400 at the median per angler. JEL Classification Codes: Q51, Q22, Q58, C35
A Unique Protease-sensitive High Density Lipoprotein Particle Containing the Apolipoprotein A-IMilano Dimer Effectively Promotes ATP-binding Cassette A1-mediated Cell Cholesterol Efflux*

Carriers of the apolipoprotein A-IMilano (A-IM) variant present with severe reductions of plasma HDL levels, not associated with premature coronary heart disease (CHD). Sera from 14 A-IM carriers and matched controls were compared for their ability to promote ABCA1-driven cholesterol efflux from J774 macrophages and human fibroblasts. When both cell types are stimulated to express ABCA1, the efflux of cholesterol through this pathway is greater with A-IM than control sera (3.4 ± 1.0% versus 2.3 ± 1.0% in macrophages; 5.2 ± 2.4% versus 1.9 ± 0.1% in fibroblasts). A-IM and control sera are instead equally effective in removing cholesterol from unstimulated cells and from fibroblasts not expressing ABCA1. The A-IM sera contain normal amounts of apoA-I-containing preβ-HDL and varying concentrations of a unique small HDL particle containing a single molecule of the A-IM dimer; chymase treatment of serum degrades both particles and abolishes ABCA1-mediated cholesterol efflux. The serum content of chymase-sensitive HDL correlates strongly and significantly with ABCA1-mediated cholesterol efflux (r = 0.542, p = 0.004). The enhanced capacity of A-IM serum for ABCA1 cholesterol efflux is thus explained by the combined occurrence in serum of normal amounts of apoA-I-containing preβ-HDL, together with a unique protease-sensitive, small HDL particle containing the A-IM dimer, both effective in removing cell cholesterol via ABCA1.
Minimizing the Probability of Lifetime Ruin under Random Consumption

Abstract We determine the optimal investment strategy in a financial market for an individual whose random consumption is correlated with the price of a risky asset. Bayraktar and Young consider this problem and show that the minimum probability of lifetime ruin is the unique convex, smooth solution of its corresponding Hamilton-Jacobi-Bellman equation. In this paper we focus on determining the probability of lifetime ruin and the corresponding optimal investment strategy. We obtain approximations for the probability of lifetime ruin for small values of certain parameters and demonstrate numerically that they are reasonable ones. We also obtain numerical results in cases for which those parameters are not small.
Is exchange rate volatility influenced by stock return volatility? Evidence from the US, the UK and Japan

This study investigates whether the volatility of exchange rate changes is affected by the volatility of stock returns for three industrialized countries, namely the US, the UK and Japan. These findings suggest that the volatility of home stock returns is a significant determinant of the volatility of exchange rate changes in all three countries, supporting the validity of the asset approach models to exchange rates for the US, the UK and Japan. Moreover, these results can be interpreted as evidence that the financial markets in these countries are integrated, in line with Zapatero (1995).
Characterization of Liquid Crystal Display Phase Modulation

The LCD is proposed as a new phase shifter with the advantage that the phase shifting is controlled digitally with no any mechanical moving and rotating elements. Phase shifting can be readily introduced by changing the coded image displayed on the LCD. Hence the LCD's phase modulation characteristics are analyzed theoretically and experimentally. A short overview of different calibration methods is made and a new one is proposed. It relies on cross correlation technology that compare phase shifting image and standard image which grey levels is increasing linearly from the value of 0 to 255. Preliminary experimental results are also presented.
LIQUIDITY CONSTRAINTS AND THE SUBSTITUTABILITY BETWEEN PRIVATE AND GOVERNMENT CONSUMPTION: THE ROLE OF MILITARY AND NON‐MILITARY SPENDING

Using data from sixty-six economies, the authors examine (1) the substitutability between private consumption and military and nonmilitary government spending and (2) the severity of liquidity constraints. Although the estimated substitutability parameters are fragile, private consumption and nonmilitary government spending are shown to be generally substitutes, whereas private consumption and military spending are better described as complements. The fraction of income that accrues to liquidity constrained households is typically positive and the severity of liquidity constraints, which is robust and precisely estimated, is shown to be negatively related to saving rates and positively related to the variability of transitory income. Copyright 1998 by Oxford University Press.
The Effect of Relative Performance Information on Performance and Effort Allocation in a Multi-Task Environment

ABSTRACT : This study investigates how relative performance information (RPI) affects employee performance and allocation of effort across tasks in a multi-task environment. Based on behavioral theories, we predict that the social comparison process inherent in RPI induces both a motivation effect that results in increased effort as well as an effort distortion effect that results in the distortion of effort allocations across tasks away from the firm-preferred allocations. We also predict that both effects are magnified when the RPI is public compared to private. We argue that although the motivation effect will generally benefit performance, the effort distortion effect may be detrimental to performance. We design an experiment that isolates these two effects. Consistent with our predictions, we find that RPI induces both motivation and effort distortion effects and that both effects are magnified when the RPI is public rather than private. Although the motivation effect increases performance, we demons.
Molecular Basis for Different Levels of tet(M) Expression in Streptococcus pneumoniae Clinical Isolates

ABSTRACT Seventy-four unrelated clinical isolates of Streptococcus pneumoniae harboring the tet(M) gene were studied. Seven strains with low tetracycline (Tc) MICs (0.25 to 0.5 μg/ml) were found to harbor truncated tet(M) alleles that were inactivated by different frameshift mutations. In contrast, five strains bore deletions in the tet(M) promoter region, among which four displayed increased Tc MICs (16 to 64 μg/ml). The same promoter mutations were detected in Tc-resistant mutants selected in vitro from various susceptible strains. Sequence analysis revealed that these deletions might impede the formation of the transcriptional attenuator located immediately upstream of tet(M). Expression in Enterococcus faecalis of a tet(M) reporter gene transcribed from these promoter mutants conferred a level of Tc resistance similar to that observed in the parental S. pneumoniae strains. These results show that different levels of Tc susceptibility found in clinical isolates of S. pneumoniae can be explained by frameshift mutations within tet(M) and by alterations of the upstream transcriptional attenuator.
An innovative approach to building stronger coalitions: the Net-Map Toolbox

A common challenge faces development organisations, from the highest policy-making circles to local, grassroots organisations: how to work with other groups to build stronger partnerships and achieve consensus on goals? This article describes the Net-Map Toolbox, a new tool which builds and expands upon existing social-networking approaches. The article highlights the experience of using the Toolbox with the White Volta Basin Board in Ghana, a multi-stakeholder organisation responsible for overseeing local water resources. The authors discuss how the Net-Map Toolbox can assist members of development-oriented organisations to better understand and interact with each other in situations where many different actors can influence the outcome.
Semiparametric Reduced-Form Estimation of Tuition Subsidies

The goal of this paper is to use a semiparametric reduced form model to estimate the effects of various tuition subsidies. This approach expands on the tuition subsidy example in Ichimura and Taber (2000) in a number of dimensions. It has become common practice in the empirical literature to refer to any nonstructural empirical analysis as "reduced form. " This is not the traditional sense of the phrase. A classic reduced form analysis (see e.g. Marschak, 1953) first specifies a structural model and then derives the reduced form parameters in terms of the structural parameters. While many recent studies have asserted to taking a reduced form approach, the structural parameters. While many recent studies have asserted to taking a reduced form approach, the structural model which the reduced form model should correspond is rarely specified. We explicitly specify a structural model and use the implied reduced form structure to estimate the effect of tuition subsidy policies. Specifying the underlying model has the advantage of being explicit about the assumptions that justify the analysis. This avoids Rosenzweig and Wolpin's (2000) criticism of work on natural 'natural experiments' that often leaves these conditions implicit. Our structural model is based on the model studied by Keane and Wolpin (1999). It is highly nonlinear and allows for more unobserved heterogeneity than the typical simultaneous equations framework that most previous work has used in reduced form estimation. Using hte specified structural model, we examine the assumptions discussed in Ichimura and Taber (2000) to justify reduced form estimation of the policy effects
RX871024 Induces Ca2+ Mobilization From Thapsigargin-Sensitive Stores in Mouse Pancreatic β-Cells

The effects of RX871024, a compound with an imidazoline structure, on cytoplasmic-free Ca2+ concentration ([Ca2+]i) in mouse pancreatic β-cells were studied. RX871024 modulates [Ca2+]i; by at least two mechanisms. One mechanism involves closure ofATPregulated K+ channels, resulting in membrane depolarization, opening of voltage-gated L-type Ca2+ channels, and a subsequent increase in [Ca2+]i. Another mechanism, reported here for the first time, deals with RX871024-induced mobilization of Ca2+ from nonmitochondrial thapsigargin-sensitive intracellular stores. Reduced glutathione, inhibitors of cytochrome P-450, and monoaminooxidases A and B blocked this Ca2+ mobilization. It is concluded that the mechanism of RX871024-induced Ca2+ mobilization from intracellular stores involves changes in the oxidation/reduction state of the pancreatic β-cell and may be controlled by cytochrome P-450.