cssi/SciSciGPT-SciSciNet huggingface dataset:
Stability of a fully polarized ultracold Fermi gas near zero-crossing of a p-wave Feshbach resonance

We consider a fully polarized ultracold Fermi gas interacting through a p-wave Feshbach resonance. Using a two-channel model, we find the effective potential at the point where the p-wave scattering length goes to zero. Here the effective interaction provides attraction and one can therefore ask about the stability of the system. We calculate the energy density of the system in the Thomas-Fermi approximation, determine the profile of the gas, and the critical number of particle in the system as function of the relevant interaction parameters. The instability can be inferred from a simple breathing mode argument which explains the scaling found numerically. The critical particle number turns out to be extremely large unless the external confinement is very tight. We therefore conclude that the effect is insignificant for standard trapping potentials and that the magnetic dipole interaction is the important term at zero scattering length. However, for tight confinement as in an optical lattice higher-order corrections can become important.
Tiny graviton matrix theory: DLCQ of IIB plane-wave string theory, a conjecture

We conjecture that the discrete light-cone quantization (DLCQ) of strings on the maximally supersymmetric type IIB plane-wave background in the sector with J units of light-cone momentum is a supersymmetric 0+1 dimensional U(J) gauge theory (quantum mechanics) with PSU(2|2) × PSU(2|2) × U(1) superalgebra. The conjectured hamiltonian for the plane-wave matrix (string) theory, the tiny graviton matrix theory, is the quantized (regularized) three brane action on the same background. We present some pieces of evidence for this conjecture through analysis of the hamiltonian , its vacua, spectrum and coupling constant. Moreover, we discuss an extension of our conjecture to the DLCQ of type IIB strings on AdS5 × S5 geometry.
Exorcising w < - 1

We show that the combined dimming of Type Ia supernovae induced by both a cosmological constant and the conversion of photons into axions in extra-galactic magnetic fields can impersonate dark energy with an equation of state w < −1. An observer unaware of the presence of photon–axion conversion would interpret the additional dimming as cosmic acceleration faster than that induced by a cosmological constant alone. We find that this mechanism can mimic equations of state as negative as w ≃ −1.5. Our model does not have any ghosts, phantoms, and the like. It is fully consistent with the conventional effective field theory in curved space, and all existing observational constraints on the axions are obeyed.
Single-Spin Relaxation in a Synthetic Spin-Orbit Field

Spin relaxation times are critical parameters in quantum information processing. Recent experiments with single-spin qubits in silicon have achieved qubit control via electric dipole spin resonance, in the presence of gradient magnetic fields generated by on-chip micromagnets. These studies have reported drastically reduced spin-relaxation times compared to those in traditional devices. Studying the magnetic field dependence of the relaxation rate, the authors find that the synthetic spin-orbit field introduces additional relaxation mechanisms, which they quantify. This insight will help to optimize the compromise between fast qubit control and enhanced spin relaxation.
SPITZER MID-INFRARED SPECTROSCOPY OF COMPACT SYMMETRIC OBJECTS: WHAT POWERS RADIO-LOUD ACTIVE GALACTIC NUCLEI?

We present low- and high-resolution mid-infrared (mid-IR) spectra and photometry for eight compact symmetric objects (CSOs) taken with the Infrared Spectrograph on the Spitzer Space Telescope. The hosts of these young, powerful radio galaxies show significant diversity in their mid-IR spectra. This includes multiple atomic fine-structure lines, H2 gas, polycyclic aromatic hydrocarbon (PAH) emission, warm dust from T = 50to150 K, and silicate features in both emission and absorption. There is no evidence in the mid-IR of a single template for CSO hosts, but 5/8 galaxies show similar moderate levels of star formation ( 108 M ? likely exist in all of the CSOs in the sample; however, there is no direct evidence from these data that BH spin energy is being tapped as an alternative mode for powering the radio jets.
Self-dual Grassmannian, Wronski map, and representations of $\mathfrak{gl}_N, \mathfrak{sp}_{2r}, \mathfrak{so}_{2r+1}$

We define a $\mathfrak{gl}_N$-stratification of the Grassmannian of $N$ planes $\mathrm{Gr}(N,d)$. The $\mathfrak{gl}_N$-stratification consists of strata $\Omega_{\mathbf{\Lambda}}$ labeled by unordered sets $\mathbf{\Lambda}=(\lambda^{(1)},\dots,\lambda^{(n)})$ of nonzero partitions with at most $N$ parts, satisfying a condition depending on $d$, and such that $(\otimes_{i=1}^n V_{\lambda^{(i)}})^{\mathfrak{sl}_N}\ne 0$. Here $V_{\lambda^{(i)}}$ is the irreducible $\mathfrak{gl}_N$-module with highest weight $\lambda^{(i)}$. We show that the closure of a stratum $\Omega_{\mathbf{\Lambda}}$ is the union of the strata $\Omega_{\mathbf\Xi}$, $\mathbf{\Xi}=(\xi^{(1)},\dots,\xi^{(m)})$, such that there is a partition $\{I_1,\dots,I_m\}$ of $\{1,2,\dots,n\}$ with $ {\rm {Hom}}_{\mathfrak{gl}_N} (V_{\xi^{(i)}}, \otimes_{j\in I_i}V_{\lambda^{(j)}}\big)\neq 0$ for $i=1,\dots,m$. The $\mathfrak{gl}_N$-stratification of the Grassmannian agrees with the Wronski map. We introduce and study the new object: the self-dual Grassmannian $\mathrm{sGr}(N,d)\subset \mathrm{Gr}(N,d)$. Our main result is a similar $\mathfrak{g}_N$-stratification of the self-dual Grassmannian governed by representation theory of the Lie algebra $\mathfrak {g}_{2r+1}:=\mathfrak{sp}_{2r}$ if $N=2r+1$ and of the Lie algebra $\mathfrak g_{2r}:=\mathfrak{so}_{2r+1}$ if $N=2r$.
Detecting Spacecraft Anomalies Using LSTMs and Nonparametric Dynamic Thresholding

As spacecraft send back increasing amounts of telemetry data, improved anomaly detection systems are needed to lessen the monitoring burden placed on operations engineers and reduce operational risk. Current spacecraft monitoring systems only target a subset of anomaly types and often require costly expert knowledge to develop and maintain due to challenges involving scale and complexity. We demonstrate the effectiveness of Long Short-Term Memory (LSTMs) networks, a type of Recurrent Neural Network (RNN), in overcoming these issues using expert-labeled telemetry anomaly data from the Soil Moisture Active Passive (SMAP) satellite and the Mars Science Laboratory (MSL) rover, Curiosity. We also propose a complementary unsupervised and nonparametric anomaly thresholding approach developed during a pilot implementation of an anomaly detection system for SMAP, and offer false positive mitigation strategies along with other key improvements and lessons learned during development.
Lifting at higher levels in the D1D5 CFT

The D1D5P system has a large set of BPS states at its orbifold point. Perturbing away from this ‘free’ point leads to some states joining up into long supermultiplets and lifting, while other states remain BPS. We consider the simplest orbifold which exhibits this lift: that with N = 2 copies of the free c = 6 CFT. We write down the number of lifted and unlifted states implied by the index at all levels upto 6. We work to second order in the perturbation strength λ. For levels upto 4, we find the wavefunctions of the lifted states, their supermultiplet structure and the value of the lift. All states that are allowed to lift by the index are in fact lifted at order O(λ2). We observe that the unlifted states in the untwisted sector have an antisymmetry between the copies in the right moving Ramond ground state sector, and extend this observation to find classes of states for arbitrary N that will remain unlifted to O(λ2).
AR-Net: Adaptive Frame Resolution for Efficient Action Recognition

Action recognition is an open and challenging problem in computer vision. While current state-of-the-art models offer excellent recognition results, their computational expense limits their impact for many real-world applications. In this paper, we propose a novel approach, called AR-Net (Adaptive Resolution Network), that selects on-the-fly the optimal resolution for each frame conditioned on the input for efficient action recognition in long untrimmed videos. Specifically, given a video frame, a policy network is used to decide what input resolution should be used for processing by the action recognition model, with the goal of improving both accuracy and efficiency. We efficiently train the policy network jointly with the recognition model using standard back-propagation. Extensive experiments on several challenging action recognition benchmark datasets well demonstrate the efficacy of our proposed approach over state-of-the-art methods. The project page can be found at https://mengyuest.github.io/AR-Net.
Modeling thermodynamic trends of rotating detonation engines

The formation of a number of co- and counter-rotating coherent combustion wave fronts is the hallmark feature of the Rotating Detonation Engine (RDE). The engineering implications of wave topology are not well understood nor quantified, especially with respect to parametric changes in combustor geometry, propellant chemistry, and injection and mixing schemes. In this article, a modeling framework that relates the time and spatial scales of the RDE to engineering performance metrics is developed and presented. The model is built under assumptions of backpressure-insensitivity and nominally choked gaseous propellant injection. The Euler equations of inviscid, compressible fluid flow in one dimension are adapted to model the combustion wave dynamics along the circumference of an annular-type RDE. These adaptations provide the necessary mass and energy input and output channels to shape the traveling wave fronts and decaying tails. The associated unit processes of injection, mixing, combustion, and exhaust are all assigned representative time scales necessary for successful wave propagation. We find that the separation, or lack, of these time scales is responsible for the behavior of the system, including wave co- and counter-propagation and bifurcations between these regimes and wave counts. Furthermore, as there is no imposition of wave topology, the model output is used to estimate the net available mechanical work output and thermodynamic efficiency from the closed trajectories through pressure–volume and temperature–entropy spaces. These metrics are investigated with respect to variation in the characteristic scales for the RDE unit physical processes.
Monoclonal gammopathies of clinical significance

"Monoclonal gammopathy of clinical significance" (MGCS) is the term used to describe nonmalignant monoclonal gammopathies causing important disease. MGCS is the differential diagnosis for any patient presenting with what appears to be a monoclonal gammopathy of undetermined significance but is also experiencing other unexplained symptoms. Broadly, these conditions can be separated into symptoms and signs referable to the nerves, the kidneys, and the skin. The first step in making these diagnoses is to consider them. With a particular condition in mind, the next step is to order those tests that can help confirm or dismiss a particular diagnosis. Nearly all of the renal and dermatologic conditions are diagnosed by renal and skin biopsies, respectively. The importance of a highly competent renal pathologist and dermatopathologist cannot be underestimated. Biopsy is less specific for the neuropathic conditions. Because several of the MGCSs are syndromes, recognizing other manifestations is also key. Treatment recommendations for many of these conditions are anecdotal because of their rarity, but for several of the conditions, IV immunoglobulin, rituximab, and plasma cell-directed therapy are the best options.
Wells Score to Predict Pulmonary Embolism in Patients with Coronavirus Disease 2019.

Abstract Background The association between coronavirus disease 2019 (COVID-19) and hypercoagulability has been extensively described, and pulmonary embolism is a recognized complication of COVID-19. Currently, the need for computed tomography pulmonary angiogram (CTPA) relies on the Wells score and serum D-dimer levels. However, because COVID-19 patients have a different thrombotic and inflammatory milieu, the usefulness of the Wells score deserves further exploration for this patient population. We aimed to explore the ability of the Wells score to predict pulmonary embolism in patients with COVID-19. Methods In this retrospective study, patients found to have a CTPA and a COVID-19 diagnosis during the same admission were selected for analysis. Age and sex, CTPA results, and associated D-dimer levels were entered in a database. The Wells score sensitivity and specificity were calculated at different values, and the area under the curve of the receiver operating characteristic curve measured. Results Of 459 patients with COVID-19, 64 had a CTPA and 12 (19%) had evidence of pulmonary embolism. Previous or current evidence of deep vein thrombosis, a Wells score above 4 points, and serum D-dimer levels 5 times above age-adjusted upper normal values were associated with pulmonary embolism. However, only 33% of patients with pulmonary embolism had a Wells score of 4 points or higher. The area under the curve of the receiver operating characteristic showed non-discriminating values (0.54) Conclusions Although a Wells score of 4 or more points predicted pulmonary embolism in our cohort, the outcome can be present even with lower scores.
The role of high-order electron correlation effects in a model system for non-valence correlation-bound anions.

The diffusion Monte Carlo (DMC), auxiliary field quantum Monte Carlo (AFQMC), and equation-of-motion coupled cluster (EOM-CC) methods are used to calculate the electron binding energy (EBE) of the non-valence anion state of a model (H2O)4 cluster. Two geometries are considered, one at which the anion is unbound and the other at which it is bound in the Hartree–Fock (HF) approximation. It is demonstrated that DMC calculations can recover from the use of a HF trial wave function that has collapsed onto a discretized continuum solution, although larger EBEs are obtained when using a trial wave function for the anion that provides a more realistic description of the charge distribution and, hence, of the nodal surface. For the geometry at which the cluster has a non-valence correlation-bound anion, both the inclusion of triples in the EOM-CC method and the inclusion of supplemental diffuse d functions in the basis set are important. DMC calculations with suitable trial wave functions give EBE values in good agreement with our best estimate EOM-CC result. AFQMC using a trial wave function for the anion with a realistic electron density gives a value of the EBE nearly identical to the EOM-CC result when using the same basis set. For the geometry at which the anion is bound in the HF approximation, the inclusion of triple excitations in the EOM-CC calculations is much less important. The best estimate EOM-CC EBE value is in good agreement with the results of DMC calculations with appropriate trial wave functions.
A general approach for identifying hierarchical symmetry constraints for analog circuit layout

Analog layout synthesis requires some elements in the circuit netlist to be matched and placed symmetrically. However, the set of symmetries is very circuit-specific and a versatile algorithm, applicable to a broad variety of circuits, has been elusive. This paper presents a general methodology for the automated generation of symmetry constraints, and applies these constraints to guide automated layout synthesis. While prior approaches were restricted to identifying simple symmetries, the proposed method operates hierarchically and uses graph-based algorithms to extract multiple axes of symmetry within a circuit. An important ingredient of the algorithm is its ability to identify arrays of repeated structures. In some circuits, the repeated structures are not perfect replicas and can only be found through approximate graph matching. A fast graph neural network based methodology is developed for this purpose, based on evaluating the graph edit distance. The utility of this algorithm is demonstrated on a variety of circuits, including operational amplifiers, data converters, equalizers, and low-noise amplifiers.
In Leadership, Look to the Practices Not to the Individual

This article introduces readers to a new approach to leadership that has come on the scene in recent years, and it is called “Leadership-as-Practice.” As an offshoot of the so-called “practice turn” in the social sciences, referring to the study of everyday activities, it challenges some of our traditional views of leadership that have relied on the grandeur of particular traits and behaviors of gifted individuals, who are accorded power over those called followers. And followers are those told to take their place in line. In leadership-as-practice, or L-A-P, we look for leadership in everyday practices, those regularized and sometime emergent activities performed by various actors within an organization or community. In L-A-P, to find leadership, we must look to the practices within which it is occurring.
Shortest Paths Among Obstacles in the Plane Revisited

Given a set of pairwise disjoint polygonal obstacles in the plane, finding an obstacle-avoiding Euclidean shortest path between two points is a classical problem in computational geometry and has been studied extensively. The previous best algorithm was given by Hershberger and Suri [FOCS 1993, SIAM J. Comput. 1999] and the algorithm runs in $O(n\log n)$ time and $O(n\log n)$ space, where $n$ is the total number of vertices of all obstacles. The algorithm is time-optimal because $\Omega(n\log n)$ is a lower bound. It has been an open problem for over two decades whether the space can be reduced to $O(n)$. In this paper, we settle it by solving the problem in $O(n\log n)$ time and $O(n)$ space, which is optimal in both time and space; we achieve this by modifying the algorithm of Hershberger and Suri. Like their original algorithm, our new algorithm can build a shortest path map for a source point $s$ in $O(n\log n)$ time and $O(n)$ space, such that given any query point $t$, the length of a shortest path from $s$ to $t$ can be computed in $O(\log n)$ time and a shortest path can be produced in additional time linear in the number of edges of the path.
Distributed Maximization of Submodular and Approximately Submodular Functions

We study the problem of maximizing a submodular function, subject to a cardinality constraint, with a set of agents communicating over a connected graph. We propose a distributed greedy algorithm that allows all the agents to converge to a near-optimal solution to the global maximization problem using only local information and communication with neighbors in the graph. The near-optimal solution approaches the (1−1/e) approximation of the optimal solution to the global maximization problem with an additive factor that depends on the number of communication steps in the algorithm. We then analyze convergence guarantees of the proposed algorithm. This analysis reveals a tradeoff between the number of communication steps and the performance of the algorithm. Finally, we extend our analysis to nonsubmodular settings, using the notion of approximate submodularity.
Real-Time Operational Driving Energy Management with Stochastic Vehicles Behavior Prediction

This paper explains a novel adaptive cruise control (ACC) driving with coasting to improve fuel economy. The purpose is to reduce the energy loss with predictive control when the preceding vehicle decelerates, while acceptable driving feeling is guaranteed. To achieve this goal, prediction of the preceding vehicle behavior is introduced to determine the ego vehicle behavior realized by using inverse reinforcement learning (IRL). In addition, the evaluation function is designed to determine the best coasting timing by balancing longer coasting time and acceptable driving feeling, while the ego vehicle speed is controlled with a rule-based control at a non-coasting period. The performance of this control strategy has been validated with simulation, showing 9.7% fuel economy improvement on average for hybrid electric vehicles in the case of following the preceding vehicle before an intersection. It has also been verified with an actual test vehicle, where a high level balance between efficiency and acceptable feeling is realized.
A Multi-State Social Force Based Framework for Vehicle-Pedestrian Interaction in Uncontrolled Pedestrian Crossing Scenarios

Vehicle-pedestrian interaction (VPI) is one of the most challenging tasks for automated driving systems. The design of driving strategies for such systems usually starts with verifying VPI in simulation. This work proposed an improved framework for the study of VPI in uncontrolled pedestrian crossing scenarios. The framework admits the mutual effect between the pedestrian and the vehicle. A multi-state social force based pedestrian motion model was designed to describe the microscopic motion of the pedestrian crossing behavior. The pedestrian model considers major interaction factors such as the accepted gap of the pedestrian's decision on when to start crossing, the desired speed of the pedestrian, and the effect of the vehicle on the pedestrian while the pedestrian is crossing the road. Vehicle driving strategies focus on the longitudinal motion control, for which the feedback obstacle avoidance control and the model predictive control were tested and compared in the framework. The simulation results verified that the proposed framework can generate a variety of VPI scenarios, consisting of either the pedestrian yielding to the vehicle or the vehicle yielding to the pedestrian. The framework can be easily extended to apply different approaches to the VPI problems.
Consumer sentiment and buying intentions revisited: a comparison of predictive usefulness

Abstract This article re-examines the controversial issue of the usefulness of attitudinal indices as leading indicators of consumer durable expenditures. First a cross-validation is performed using the two most popular indices of consumer sentiment (Survey Research Center and Conference Board). The usefulness of these indices is then tested using a more recent methodology for time-series analysis.
Equity grants to target CEOs during deal negotiations

Abstract I investigate the determinants and consequences of granting equity to the target's Chief Executive Officer (CEO) during deal negotiations. These negotiation grants likely reflect information about the acquisition, benefit from the deal premium, and provide more timely bargaining incentives. I find that CEOs are more likely to receive equity during negotiations when they negotiate for the target, particularly when the target has more bargaining power. This suggests that boards use equity to enhance bargaining incentives for CEOs with the most influence over deal price. I find limited evidence that negotiation grants are used as compensation and no evidence that they have a material adverse effect on shareholders.
The Demographic Transition and the Position of Women: a Marriage Market Perspective

We present international evidence on the marriage market implications of cohort size growth, and set out a theoretical model of how marriage markets adjust to imbalances. Since men marry younger women, secular growth in cohort size in the second phase of the demographic transition worsens the position of women. This e¤ect has been substantial in many Asian countries earlier, and continues to be true in sub-Saharan Africa. With fertility decline, cohort are now shrinking in East Asia, improves the position of women. These demographic trends can explain the increase and spread in dowries in South Asia and the persistence of polygyny in sub-Saharan Africa. We show that the age gap at marriage will not adjust in order to equilibrate the marriage market in response to persistent imbalances, even though it accommodates transitory shocks. JEL Categories: J12, J13, J16
Do Private Equity Funds Manipulate Reported Returns

Abstract Private equity funds hold assets that are hard to value. Managers have incentives to distort reported valuations if these reports are used by investors to decide on commitments to subsequent funds. Using a large dataset of buyout and venture funds, we test for the presence of return manipulations. We find that some underperforming managers inflate reported returns during fundraising. However, those managers are less likely to raise a next fund, suggesting that investors can see through the manipulation. In contrast, top-performing funds appear to understate valuations. A simple theoretical framework rationalizes our empirical results as well as those of related papers.
Passed to Fail? Predicting the College Enrollment of GED® Passers.

Utilizing a data set of over 900,000 enrollees in adult basic education programs in New York State between 2005 and 2013, we examine the college enrollment of GED® passers. Upon enrollment in an adult basic education program, participants were asked whether they wanted to attend college after completion; almost 13,000 students both indicated a desire to attend college and subsequently passed the GED exam. Roughly half of these students reported attending college within 12 months. We use logistic regression to predict which students attended college based on a number of demographic variables and proximity to a community college. Counter to prior research, we find that none of these variables are practically significant predictors of college attendance. Students of different races who are and are not employed, receiving public assistance, single parents, and living close to a community college (among other factors) are virtually equally likely to attend college. We discuss other possible explanations and re...
Too Big to Fail: Moral Hazard in Auditing and the Need to Restructure the Industry Before it Unravels

Large audit firms may believe that they are too big to fail. Arthur Andersen's 2002 criminal indictment reduced their number from five to four, and the government decided in 2005 to avoid indicting KPMG for crimes it admitted committing. If audit firms interpret the government's reluctance to indict as signaling aversion to tough action against them, moral hazard arises. This offsets auditing improvements mandated by the Sarbanes-Oxley Act of 2002 that are designed to strengthen auditors' reputations with managers for thoroughness and improve financial statement reliability. Neutralizing this moral hazard requires a credible alternative industry structure so that when a large audit firm faces failure from criminal or other malfeasance, it can be allowed to exit the industry without upsetting the financial system that auditing supports. An alternative industry structure must make auditing at least as effective as it is under the current system and should provide enhancements wherever possible. Examples of enhancements include bolstering auditors' reputations for toughness with client managers and delivering more transparent information to external users of financial information. One way to restructure the industry along these lines is through mandatory financial statement insurance. Such insurance would make it clear that no audit firm is too big to fail, promote strategic detection and deterrence in auditing, produce publicly disclosed indices of financial statement reliability, and reduce barriers to entry that potential competitors to the four large firms currently face.
The scientific study of judicial activism

Criticism of the U.S. Supreme Court often centers on allegations that the Court’s decisions reflect inappropriate “judicial activism.” Hundreds of law review articles every year address the issue,1 while the popular press also commonly critiques socalled activist decisions.2 Even hundreds of judicial decisions have decried judicial activism.3 While there is no intrinsic reason why an activist judiciary is inevitably or inherently problematic, the phrase typically carries a very negative connotation—at least in modern discourse.4 The attack on the Court for activism took hold during the Warren Court era, known for its numerous controversial rulings on issues such as defendants’ rights.5 An activist Justice
Biotech-pharmaceutical alliances as a signal of asset and firm quality

We examine the determinants of biotech‐pharmaceutical alliance prices to determine whether the market for alliances is characterized by asymmetric information. We find that inexperienced biotech companies receive substantially discounted payments when forming their first alliance. A jointly developed drug is more likely to advance in clinical trials than a drug developed by a single company, so the first‐deal discount is not consistent with the drug's subsequent performance. Biotech companies receive substantially higher valuations from venture capitalists and the public equity market after forming their first alliance, which implies that alliances send a positive signal to prospective investors.
Bargaining in the Shadow of (International) Law: What the Normalization of Adjudication in International Governance Regimes Means for Dispute Resolution

After examining the similar goals and values that drive the simultaneous increase in international trials and the decrease in U.S. trials, the article then examines the challenges international adjudication poses to dealing with human rights violations and transitional justice situations. Simplistically, these tensions can be viewed as the need to strike a balance between peace and justice, top-down implementation and bottom-up impact, and process efficiency and conflict customization. The good news is that these challenges have been slowly working themselves out as the next generation of international adjudication models continues to improve. This continued improvement and normalization leads to an even more interesting question - what are the possibilities for human rights adjudication in the future? What happens when countries and individuals are bargaining in the shadow of international law? The last part of this article, looking through the lens of dispute resolution theory, addresses at least two intriguing developments that could occur in the next ten years. The first development might be the normalization of consensual international processes that mirror, at least to some degree, U.S. process. After moving away from negotiation toward judicialization of international disputes, the pendulum might start to swing back toward negotiated settlements. Will individual defendants be more likely to plea bargain (as has already occurred)? Will states be willing to work out settlements with their human rights victims prior to trial? Given the potential risks involved in these developments, the international community needs to be vigilant so that the rule of law, rights, and equality are still protected through these consensual dispute resolution processes. Second, the shift to broad community reparations like health care and education ordered by tribunals and truth commissions opens up a new chapter in more appropriate remedies for human rights victims.
Dangerous Loans: Consumer Challenges to Adjustable Rate Mortgages

As recently as the first quarter of 2007, home ownership rates were up across the board, including in low-income, fixed-income, and minority communities. By the fourth quarter of 2007, sales volume had flattened, housing prices had peaked or dropped, interest rates for consumers were uncertain, and mortgage lenders had tightened access to credit. Additionally, notices of default rose, as did forced (equity) sales, and completed foreclosures as measured by trustee deeds of sale filed. This article analyzes the relationship between innovative mortgage products, like adjustable-rate mortgages, and the first wave of consumer legal challenges brought against those products under the Truth in Lending Act (TILA), 15 U.S.c. section 1601, et seq. (TILA). Legislation has been introduced to address the rise in mortgage distress among consumers, but much of that legislation is limited in application. Hence, by default, courts will continue to play an important role in resolving consumer claims against lenders, and many of the lawsuits will be brought as class actions. TILA explicitly allows class action lawsuits for damages under section 1640, but section 1635, which covers rescissions, is silent on the question of whether class-wide rescission claims are permissible. On the legal side, the answer will depend upon how courts interpret section 1635 in light of TILA's overall consumer protection purpose. On the economic side, the answer will depend upon how access-tocredit issues get framed in light of the expanding mortgage crisis. Harry H. and Lillian H. Hastings Research Chair (2006-2007) and Professor of Law, University of California, Hastings College of the Law. The author gratefully acknowledges the Hastings Board of Directors and the Hastings Research Chair donors, The Center for the Study of Law and Society at the University of California Berkeley, School of Law (Boalt Hall), which hosted me as a Visiting Scholar in 2006-2007, and the Roger Traynor Scholarly Publication Award (2007-2008). Berkeley Business Law Journal
On the origin of Earth's Moon

The Giant Impact is currently accepted as the leading theory for the formation of Earth's Moon. Successful scenarios for lunar origin should be able to explain the chemical composition of the Moon (volatile content and stable isotope ratios), the Moon's initial thermal state, and the system's bulk physical and dynamical properties. Hydrocode simulations of the formation of the Moon have long been able to match the bulk properties, but recent, more detailed work on the evolution of the protolunar disk has yielded great insight into the origin of the Moon's chemistry, and its early thermal history. Here, I show that the community has constructed the elements of an end-to-end theory for lunar origin that matches the overwhelming majority of observational constraints. In spite of the great progress made in recent years, new samples of the Moon, clarification of processes in the impact-generated disk, and a broader exploration of impact parameter space could yield even more insights into this fundamental and uniquely challenging geophysical problem.
Empirical Limitations on High-Frequency Trading Profitability

Addressing the ongoing controversy of overly aggressive high-frequency trading practices in financial markets, Kearns, Kulesza, and Nevmyvaka report the results of an extensive empirical study estimating the maximum possible profitability of such practices and arrive at figures that are surprisingly modest. Their findings highlight the tension between execution cost and trading horizon that is confronted by high-frequency traders. They provide a controlled and large-scale empirical perspective on the high-frequency debate that has heretofore been absent. The authors’ study employs a number of novel empirical methods, including the simulation of an “omniscient” high-frequency trader who can see the future and act accordingly.
The End of Managerial Control

This article has the aim of considering whether managerial control, no matter its form, has outlived, its usefulness in postbureaucratic society, and if so, whether it can be replaced by a more emancipatory discourse among local practitioners as they confront the immanent requirements of social interaction within their own practices. The article initially reviews the limitations of bureaucratic control and considers postbureaucratic or “soft” alternatives as sources of empowerment. Seen as ideals, postbureaucratic options are not thought to overturn the imposition of control in organizing, but the relocation of the positioning of work to the practice setting offers management a new role as the facilitator of the critical discourse required to sustain and enhance local activity.
Media Uses and Effects in New Democracies: The Case of Poland’s 2005 Parliamentary and Presidential Elections:

To what extent are established democracies and new democracies moving closer together in terms of the impact of media messages in electoral campaigns? Drawing on a content analysis of main evening television news on flagship programs over two months during the Polish National Election Study’s two-wave panel study (N = 1,200) spanning parliamentary and presidential elections in September and October 2005, the authors identify the impact of media use on political knowledge, political participation, and political learning. They demonstrate the positive effect of media use on political knowledge, on participation in a variety of campaign activities other than voting, and on the stabilization of issue positions. Findings support those from recent elections in established democracies. The study suggests that in the context of more highly volatile electorates in the new democracies of East-Central Europe, campaign information in the news media plays a critical role in campaigns and electoral outcomes.
Repurchase tender offers and earnings information

Abstract Announcements of stock repurchase tender offers are examined as a source of information about firms' future earnings prospects and market risk levels. We document positive earnings surprises and equity systematic risk reduction following tender offers. Announcement stock price reactions are positively correlated with earnings surprises over the concurrent and subsequent two years, and negatively correlated with changes in equity market risk. Finally, stock price reactions to quarterly earnings announcements are more strongly correlated with time-series based earnings surprises in the year prior to the tender offer than during the subsequent year, consistent with tender offer announcements conveying earnings information.
Terms of trade and exchange rate regimes in developing countries

Abstract Since Friedman [Essays in Positive Economics, University of Chicago Press, Chicago (1953) 157–203] an advantage often attributed to flexible exchange rate regimes over fixed regimes is their ability to insulate more effectively the economy against real shocks. I use a post-Bretton Woods sample (1973–96) of 75 developing countries to assess whether the responses of real GDP, real exchange rates, and prices to terms-of-trade shocks differ systematically across exchange rate regimes. I find that responses are significantly different across regimes in a way that supports Friedman’s hypothesis. The paper also examines the importance of terms-of-trade shocks in explaining the overall variance of output and prices in developing countries.
Commercial Leasing in China: An Overview

China’s real estate market—including its commercial leasing sector—has grown at a remarkable rate since the late 1980s, notwithstanding the fact that China did not adopt its first modern property law until 2007. Most of China’s recent real estate development thus has occurred in the absence of a comprehensive national property law. China has somehow managed to modernize its real estate market and attract foreign investment despite the fact that its legal system is incompletely developed and characterized by uncertainty. In an effort to understand how and why investors and other professionals are willing to participate in such an unsettled market, I recently interviewed Chinese and Western experts in the real estate field, including lawyers, judges, developers, bankers, government officials, and academics. This Article summarizes my findings about China’s commercial leasing market. The new property law provides some insight into how China’s real estate market functions, but a full picture requires an understanding of how these professionals have operated in a legally uncertain environment, both before and after the new law became effective.
Mutual Fund Survivorship

This article provides a comprehensive study of survivorship issues using the mutual fund data of Carhart (1997). We demonstrate theoretically that when survival depends on multiperiod performance, the survivorship bias in average performance typically increases with the sample length. This is empirically relevant because evidence suggests a multiyear survival rule for U.S. mutual funds. In the data we find the annual bias increases from 0.07% for 1-year samples to 1% for samples longer than 15 years. We find that survivor conditioning weakens evidence of performance persistence. Finally, we explain how survivor conditioning affects the relation between performance and fund characteristics. Fund disappearance, or attrition, affects almost every study of mutual funds, hedge funds, or pension funds. Many commercial datasets include only funds currently in operation. Test methodologies often require funds to survive a minimum time period to be included in the analysis. These forms of survivoronly conditioning can bias test results. This article offers a theoretical and empirical analysis of the biases introduced by conditioning on survival. We study the effect of survivor conditioning on (1) estimates of average performance, (2) tests of performance persistence, and (3) cross-sectional estimates of the relation between performance and fund attributes. In each case, the empirical results are consistent with our theoretical predictions.
Time-Varying Effects of Chronic Hedonic Goals on Impulsive Behavior:

Abstract Marketers and academics have long been interested in understanding what drives impulsive behavior and have focused on what causes a person to indulge. The three experiments reported in this article examine reasons that underlie urges that strengthen over time and cause people to overindulge from a goal-theoretic view of impulsiveness. The authors demonstrate that impulsivity is characterized by generalized reward sensitivity and by an activation of chronic goals to seek pleasure in various domains (Experiment 1). Furthermore, through a moment-to-moment tracking of desires, the authors demonstrate that such chronic goals, particularly in conjunction with temporarily primed goals, provide the momentum for impulsive people to override their self-control goals, leading to a strengthening of desires over time (Experiment 2). In turn, this causes impulsive people to behave even more impulsively when their activated hedonic goals are not satiated (Experiment 3). The findings suggest that contextual cues...
A Conditional Assessment of the Relationships between the Major World Bond Markets

This paper uses a bivariate GARCH framework to examine the lead-lag relations and the conditional correlations between 10-year US government bond returns and their counterparts from the UK, Germany, and Japan. We find that while mean and volatility spillovers exist between the major international bond markets, they are much weaker than those between equity markets. The results also indicate that the correlations between the US and other major bond market returns are time varying and are driven by changing macroeconomic and market conditions. However, in contrast to the finding that the benefits of international diversification in equity markets evaporate during high-stress periods, we find that the benefits of diversification across major government bond markets do not decrease during periods of extremely high bond market volatility or following extremely negative US and foreign bond returns.
Wild Card Statutes, Parity and National Banks - The Renascence of State Banking Powers

The United States has a dual banking system in which banks can be charted either as a National Bank under the National Bank Act or a State Bank under any one of fifty different state banking laws. State Banks have often led the way in banking innovations and developing new approaches for regulating and examining financial institutions. However, in the past decade, State Banks have experienced difficulties in remaining competitive with National Banks, primarily because of the increasingly broad powers granted to National Banks by the Office of the Comptroller of the Currency. Some states have responded by enacting "wild card" or "parity" statutes that enable a state banking regulator to grant a State Bank the same banking powers enjoyed by a National Bank. However, neither state legislators nor regulators have taken full advantage of the wild card statutes. This article proposes that judicious use of "wild card" statutes would provide state banking regulators with the powers necessary to enable their State Banks to compete on an equal footing with National Banks without endangering the institutions' safety and soundness.
Interrogation Methods and Terror Networks

We examine how the structure of terror networks varies with legal limits on interrogation and the ability of authorities to extract information from detainees. We assume that terrorist networks are designed to respond optimally to a tradeoff caused by information exchange: Diffusing information widely leads to greater internal efficiency, but it leaves the organization more vulnerable to law enforcement. The extent of this vulnerability depends on the law enforcement authority’s resources, strategy and interrogation methods. Recognizing that the structure of a terrorist network responds to the policies of law enforcement authorities allows us to begin to explore the most effective policies from the authorities’ point of view.
The Internationalization of Real Estate Research

The contributions of international researchers and institutions to real estate literature for the 1990 to 2006 period are assessed. Both the Asia-Pacific and European regions increase their influen...
Understanding Insurance Policies as NonContracts: An Alternative Approach to Drafting and Construing These Unique Financial Instruments

Insurance policies commonly are understood to be a species of standardized contracts. This Article challenges that conventional wisdom and argues that insurance policies do not qualify as contracts when the doctrinal and theoretical bases underlying the requirements for the formation of a contract are analyzed. In making the argument, the Article examines the process by which insurance policies are created and sold, as measured against the requirements for the formation of a contract. It also distinguishes insurance policies from other types of standardized contracts such as the various types of wrap agreements that currently are the subject of much litigation and scholarly commentary. The Article then explores the doctrinal and theoretical bases underlying the specialized rules that courts have developed to interpret insurance policies, which incorporate public policies such as ensuring that injured parties are compensated and that powerless consumers receive protection against overreaching by insurers, to explain how courts already implicitly have recognized that insurance policies are not simply a type of standardized contract. Then, in order to avoid the current problem of regulatory capture associated with the approval of policy language, the Article proposes to reform insurance law by having an independent third party draft insurance policies into shorter, understandable documents with input from both insurers and policyholders. And, instead of using the current rules of insurance policy interpretation, the canons of statutory interpretation would be used to interpret insurance policies with consideration given to the drafting history, societal interests, overriding purpose of insurance, and with Chevron deference given to the drafter’s interpretation.