Miracle-dz/UniFAR-FTUs huggingface dataset:
A Markov chain approximation scheme for option pricing under skew diffusions

In this paper, we propose a general valuation framework for option pricing problems related to skew diffusions based on a continuous-time Markov chain approximation to the underlying stochastic process. We obtain an explicit closed-form approximation of the transition density of a general skew diffusion process, which facilitates the unified valuation of various financial contracts written on assets with natural boundary behavior, e.g. in the foreign exchange market with target zones, and equity markets with psychological barriers. Applications include valuation of European call and put options, barrier and Bermudan options, and zero-coupon bonds. Motivated by the presence of psychological barriers in the market volatility, we also propose a novel ‘skew stochastic volatility’ model, in which the latent stochastic variance follows a skew diffusion process. Numerical results demonstrate that our approach is accurate and efficient, and recovers various benchmark results in the literature in a unified fashion.
Cortical Oscillatory Modular Processing Electrical Sources

The brain is a distributed network (DIPS) of multiple agents specialized in solving specific tasks and joining efforts to handle complex cognitive activities as a time of efficient cortical columns assemblies (CA). The column distinct cortical layers generate different slow and fast currents that sum up into a total columnar oscillatory current that is low and noisy. The increment of the input activity triggered by sensory stimulation or internal activity created by reasoning, entrains not only the intrinsic activity of each column but also the activity of a defined number of neighboring columns. This entrainment increases the value of the different columnar that sum up into a larger current whose value heavily depends on the number of the entrained columns. The input and oscillatory activity of all cortical areas recruited to support a cognitive task is organized into a Cortical Oscillatory Modular Processing (COMP) that generates a event related activity that may be identified in the EEG recorded while the individual is solving the task. These are segmented into four waves of Wi components. Here, the sLORETA software was used to identify he input and oscillatory sources activated by different cognitive processing. The analysis of the temporal and spatial distribution of these sources revealed that and activity contributes to generate the distinct Wi components of the distinct supporting the cortical modular processing of any cognitive task. The source movement during the distinct entrains and integrates the sequential cortical processing COMP to update and unify the cognitive activity related to a task to be solved.
Close Competitors? On the Causes and Consequences of Bilateral Bank Competition

We interview 379 European bank CEOs to identify their banks' main competitors. We then provide evidence on the drivers of bilateral bank competition, construct a novel competition measure at the locality level, and assess how well it explains variation in firms' credit constraints. We find that banks identify another bank as a main competitor in small-business lending when their branch networks overlap, when both are foreign owned or relationship oriented, or when the potential competitor has fewer hierarchical layers. Intense bilateral bank competition increases local credit constraints, especially for small firms, as competition may impede the formation of lending relationships.
Probes by aphids indicated by stain induced fluorescence in leaves

effect on their mutual host plant, or through an effect of photoperiod on alata production. The interaction between the two aphid species may contribute to the decline of A. pisum in spring, because the production of a large number of potential migrants (50~ or more of all larvae) would substantially reduce the rate of increase of a local population. However, the effect of A. kondoi on alata production by A. pisum cannot be the only factor preventing the density of A. pisum from rising in summer, because our data show that the population of A. pisum does not recover when populations ofA. kondoi decline. This novel form of interspecific competition probably operates wherever physical contact among aphids affects alata production. The impact on coexisting populations of aphids will depend on their relative sensitivities to crowding and levels of activity.
Foreign Banking in Developing Countries; Origin Matters

Driven by globalization and increased financial integration, the last decade has seen many foreign banks entering developing countries. Although the majority of these banks are from high-income countries, recently banks from developing countries have followed suit. This paper looks at this phenomenon, by examining the differences and similarities between developing and high-income country foreign banks. Using a large dataset on banking sector FDI in developing countries, we find that 27 percent of all foreign banks in developing countries are owned by a bank from another developing country, while these banks hold 5 percent of the foreign assets. The importance of developing country foreign banks is much larger in low-income countries (both in number of banks and in terms of assets) and this type of foreign banking is strongly regionally concentrated. Although foreign bank entry by both developing country as well as high-income country banks seems to be driven by economic integration, common language and proximity, banks from developing countries are more likely to invest in small developing countries with weak institutions where high-income country banks are reluctant to go. This result seems to suggest that developing country banks have a competitive advantage dealing with countries with a weak institutional climate. Furthermore, our results indicate that developing country foreign banks have a higher interest margin and are less profitable than foreign banks from high-income countries.
The Effect of Supply Chain Integration on Supply Chain Performance

The study investigated the effect of supply chain integration on the performance of supply chains. Specifically, the study investigated the effect of information, operational and relational integration of supply chains and how they affect the overall performance of the supply chain. The study administered 1500 questionnaires to some selected supply chain and information systems specialists and based on the responses received, 400 questionnaires were fully completed and which was used in the analysis of the study. Based on the findings, it was found that information and operation integration had a positive effect on supply chain performance whiles relational integration has a negative effect on supply chain performance. The result implies that within the Ghanaian context managers should invest more in information and operation integration in order to achieve positive outcomes in their supply chain whiles relationship integration should be done with more caution because of its underlying elements of trust and long-term commitments.
Two-Sided Centrality and Optimal Pricing of Two-Sided Platforms

We develop a two-sided centrality concept to measure the cross network externalities, and build this new concept into a monopolistic two-sided platform model. Two-sided centrality can be employed in characterizing the behaviors of marginal end-users. In this setting, the platform will take into account not only the end-users’ quantities but also the end-users’ heterogeneities in its optimal price setting.
Measuring the Capability to Raise Revenue - Process and Output Dimensions and Their Application to the Zambia Revenue Authority

The worldwide diffusion of the good governance agenda and new public management has triggered a renewed focus on state capability and, more specifically, on the capability to raise revenue in developing countries. However, the analytical tools for a comprehensive understanding of the capability to raise revenue remain underdeveloped. This article aims at filling this gap and presents a model consisting of the three process dimensions information collection and processing, merit orientation and administrative accountability. Revenue performance constitutes the fourth capability dimension which assesses tax administration's output. This model is applied to the case of the Zambia Revenue Authority. The dimensions prove to be valuable not only for assessing the how much but also the how of collecting taxes. They can be a useful tool for future comparative analyses of tax administrations' capabilities in developing countries.
Unequal Access to Foreign Spaces: How States Use Visa Restrictions to Regulate Mobility in a Globalised World

Nation-states employ visa restrictions to manage the complex trade-off between facilitating the entrance to their territory by passport holders from certain countries for economic and political reasons and deterring individuals from other countries for reasons of perceived security and immigration-control. The resulting system is one of highly unequal access to foreign spaces, reinforcing existing inequalities. Trans- national mobility is encouraged for passport holders from privileged nations, particularly rich Western countries, at the expense of severe restrictions for others. Visa restrictions manifest states’ unfaltering willingness to monitor, regulate and control entrance to their territory in a globalised world.
Adolescent Depression and Educational Attainment: Results Using Sibling Fixed Effects

This paper contributes to the literature on the relationship between adolescent depression and educational attainment in several ways. First, while cross sectional data are normally used to assess the importance of the relationship, this paper uses longitudinal data in order to defend against the potential of reverse causality. Second, this is the first paper in the literature to control for sibling fixed effects in examining the relationship between adolescent depressive symptoms and human capital accumulation. Importantly, this eliminates omitted factors such as family and neighborhood characteristics common to siblings that affect both depressive symptoms and educational attainments (e.g. neighborhood crime, family resources). Third, this paper examines the effects of both an indicator and scale of depressive symptoms and finds important associations with these depressive symptoms and human capital accumulation. Though not always precisely estimated, the results suggest that depressive symptoms decrease years of schooling, mainly through increasing the chances of dropping out but may have small impacts on the likelihood of college attendance (conditional on high school graduation). In particular, preferred estimates suggest that a standard deviation increase in depressive symptoms is associated with a 25-30% increase in the likelihood of dropping out.
Observations on the mechanism of flagellar retraction in Saprolegnia terrestris

Cinematographic analysis of encysting primary zoospores of Saprolegnia terrestris showed asynchronous flagellar retraction. The data are most compatible with a retraction model involving mainly asynchronous microtubule depolymerization with "wrap-around" of the final fragment of each flagellum.
QUANTITATIVE APPROACHES IN THE HISTOCHEMISTRY OF MUCOPOLYSACCHARIDES

provide us with better tools in the future. In this presentation the quantitative aspects of some staining type of methods for the histochemical demonstration of mucopolysaccharides * From the Symposium presented at the 13th Annual Meeting of the Histochemical Society, supported in part by grant G-21841 from the National Science Foundation. 1 Since the descriptive term “mucopolysaccharide” has been used throughout this symposium, itwill be retained in this paper; one should note that recently the use of the name “glycosaminoglycan” has been suggested for polysaccharides containing amino sugars (23). ill be reviewed! , based mainly on our work with
Predicting Non-Inventoried Forest Elements using Forest Inventory Data: The Case of Winter Forage for Woodland Caribou

Abstract Growing development pressures and expectations that forest managers provide future wildlife habitat require better understanding of species' habitat needs, particularly food, cover, and space requirements, and an ability to spatially depict these needs. In forest management in Canada, the primary data used to identify and quantify wildlife habitat reside in remotely sensed forest resource inventories (FRI) that were originally developed to assess timber values for merchantable tree species. Although FRI- and field-based sampling do not always show strong agreement, research has shown that FRI can be informative for wildlife habitat assessments. However, much uncertainty remains when investigating forest characteristics that are not visible to the interpreters, such as sub-canopy features. Here, we used 152 plots in northwestern Ontario to compare the ability of field-based and remotely sensed forest inventories to predict Cladonia lichen cover, a primary winter food source for woodland caribou. The best model for field-based data, which included percentage of jack pine and black spruce in the tree canopy, tree height, stand age, soil moisture, and stem density, correctly predicted 92% of cases where Cladonia spp. were absent (n = 107 plots) and 62% of cases where they were present (i.e., cover >1%; n = 45 plots). FRI performed poorly by contrast, with corresponding percentages of 96 and 19%. FRI provide weak data support for differentiating winter forage availability for woodland caribou, an important habitat factor at the stand level. These findings have important implications for predictions of herd productivity, and suggest that improved remote-sensing capabilities are required in order to assess woodland caribou winter habitat.
The effect of habitat‐specific sampling on biological assessment of water quality using a predictive model

1. Detection of impairment in macroinvertebrate communities using rapid biological assessment depends on the ability to compare sites, with confidence that differences obtained result from water quality. However, collections from more than one habitat type may introduce variation that can potentially mask water quality differences among sites. Data were collected from the riffle, edge, pool-rock and macrophyte habitats at reference (minimally disturbed) and test (disturbed) stream sites throughout the Australian Capital Territory. The effect of habitat-specific sampling on predictive models for detecting impairment in macroinvertebrate communities was determined. Four models were used: riffle only, edge only, each habitat as an individual object, and all habitats sampled at a site considered as a composite sample. 2. Macroinvertebrates from individual habitats generally clustered into separate groups because collections from the same habitat at different sites were more similar than collections from different habitats within a site. Thus, in the habitats as individual objects model, the taxa predicted to occur at a test site may be an indication of habitat type rather than water quality. The outputs of the composite habitats and riffle and edge models were similar. However, the variable number of habitats included at each site in the composite model may confound the detection of biological impairment because of unequal sampling effort. The riffle and edge models were the most robust because they were less confounded by inter-habitat variation and were based on comparisons made between equivalent environmental units. 3. Comparison of observed/expected taxa ratios for test sites showed that each model could detect biological impairment, indicating considerable data redundancy was introduced by sampling several habitats. In particular, the pool-rock and macrophyte habitats contributed no information with regard to macroinvertebrate taxon occurrence or detection of biological impairment that could not be obtained from either the riffle or edge habitats within the study area.
Quality Control for Rental Assistance Subsidies Determinations: Final Report for FY 2009

The Department of Housing and Urban Development (HUD) Quality Control for Rental Assistance Subsidy Determinations studies provide national estimates of the extent, severity, costs, and sources of rent errors in tenant subsidies for the PHA-administered Public Housing, Section 8 Housing Choice Voucher, and Moderate Rehabilitation programs; and the Housing-administered Section 8, Section 202 and Section 811 Project Rental Assistance Contracts (PRAC) and Section 202/162 Project Assistance Contracts (PAC). These programs account for nearly all of HUD’s current housing assistance outlays administered by the Offices of Housing and Public and Indian Housing, as well as the large majority of units assisted by HUD. This study was designed to measure the extent of administrator income and rent determination error by housing providers. This study does not involve an audit of individual PHAs or projects; nor does it monitor the implementation of housing programs. Its focus is on identifying households where an error was made when calculating the amount of the household’s rent; and providing nationally representative findings related to those errors. The errors we evaluated in this study affect the rent contributions tenants should have been charged. The findings presented in this report are a result of data collected from February through June 2010 for actions taken by Public Housing Authority (PHA) and project staff during Federal FY 2009 (October 2008 through September 2009). These findings show that the percent of errors, and the gross erroneous payments in the Public Housing, Section 8 Housing Choice Voucher, Moderate Rehabilitation, owner-administered Section 8, Section 202 and Section 811 (PRAC) and Section 202/162 (PAC) tenant subsidies continue to remain stable when compared with results from previous studies.
Using Degree-Days to Determine Optimum Spray Timing for the Oriental Fruit Moth (Lepidoptera: Tortricidae)

Chemical treatments for control of Grapholitha molesta (Busck) in peaches were timed at intervals of 100 ± 10 degree-days after the beginning of the second flight. Optimum timing with diazinon was determined to be at 500 to 600 degree-days into the flight; use of longer-residual azinphosmethyl expanded the acceptable timing to 400 to 700 degree-days into the flight.
Some Convergence Properties of Broyden&Apos;S Method

In 1965 Broyden introduced a family of algorithms called(rank-one) quasi-New-ton methods for iteratively solving systems of nonlinear equations. We show that when any member of this family is applied to an n x n nonsingular system of linear equations and direct-prediction steps are taken every second iteration, then the solution is found in at most 2n steps. Specializing to the particular family member known as Broydenâ€TMs (good) method, we use this result to show that Broyden&apos;s method enjoys local 2n-step Q-quadratic convergence on nonlinear problems.
Advancing the Empirical Study of Performance Management: What we Learned from the Program Assessment Rating Tool

Interest in performance management has never been higher. But what does actual research on this topic tell us about the effects of performance management, reform efforts and governance more generally? Historically, the answer often seemed to be that such reforms did not work very well. This paper focuses on a recent chapter in the history of performance management at the US federal government, the Program Assessment Rating Tool (PART). PART was created by the George W. Bush administration, and ended by the Obama White House. PART, like many management initiatives, came and went. What distinguishes it, however, is the quality and breadth of the research it prompted — research that has increased our knowledge of performance management and reform implementation as well as a whole host of fundamental governance phenomena such as political ideology, administrative burden, performance information use, leadership commitment, and goal ambiguity.
Significant overestimation of needle surface area estimates based on needle dimensions in Scots pine (Pinus sylvestris)

Needle length and width at midpoint are often used to make estimates of needle surface area for conifers. For these estimates, Scots pine (Pinus sylvestris L.) fascicles are assumed to be cylindrical; thus, for a two-needle pine, the cross section of a needle within the fascicle is assumed to be hemicylindrical. The objectives of this study were to determine whether these assumptions lead to a good estimate of the actual surface area and how needles vary with tree age and crown position. We used a digital scanning microscope to measure needle width, thickness, and perimeter at 11 positions along 28 needles from different crown positions in different-aged trees and found that they varied with position within the individual needle as well as with tree age and crown position. Needle shape was relatively constant: needle width and perimeter both increased from the base to the needle midpoint and then decreased slightly to the needle tip, but needles were not hemicylindrical and actual perimeters were nearly 1.
Is there a Consensus?: An Experimental Trial to Test the Sufficiency of Methodologies Used to Measure Economic Impact

This research utilizes local GDP in a panel data set of 383 MSAs in the U.S. during 2012-2017 to determine whether historical methods in the academic literature to measure the economic impact of sporting events, facilities, and teams are sensitive enough to generate conclusive statistically significant results (i.e., are the methods used able to avoid making a Type I error, rejecting a true null hypothesis). An experiment is created where a random set of MSAs receives an injection of various levels of economic impact to their GDP (treatments range from $25 million to $1 billion). Standard panel regression techniques utilized in the sports economics literature to measure economic impact are then tested on both the baseline model (all MSAs with their actual GDPs) and the experimental model (containing all MSAs with the experimental group having received the treatment). The findings show that the historical methods used in the literature fail to be able to detect the built-in-by-design injections of economic activity for the experimental group until very high levels of treatment of at least $300 million to $1 billion annually are present, thus providing evidence that Type I errors are likely to have occurred in some of the literature.