cssi/SciSciGPT-SciSciNet huggingface dataset:
Internal finance and investment : another look

One of the best documented empirical facts in economic research has been the positive relationship between internal finance and cash flows and capital expenditures and investment. But disputes about the analytical basis for the cash flow theory have been largely unresolved. There are two distinct approaches to the cash flow theory of investments: the managerial (managers are primarily interested in maximizing the firm's growth rate) and information theoretic (managers try to maximize shareholder value). Using a panel of US manufacturing firms (1972-90), the author tries to distinguish between the approaches. The results suggest that firms rely on internal finance for capital expenditures because of managerial considerations. The principal shortcoming of the information-theoretic approach is its reliance on dividend practices as a decisive criterion for studying firm heterogeneity. Dividend practices are incapable of distinguishing between managerial and information-theoretic approaches. But one can distinguish between managerial and information-theoretic approaches using such variables as size, exchange listings and the ratio of R&D to sales and make contrasting predictions about the firm's reliance on internal finance for capital expenditures. The evidence shows that the firm's observed reliance of capital expenditures on internal finance is driven by managerial rather than information-theoretic considerations. While no current research directly distinguishes between managerial and information theoretic approaches, preliminary evidence seems to favor the managerial approach. And even though the stock market may play a limited role as a source of finance, policy initiatives to reform the financial sector and develop capital markets are likely to enhance the overall efficiency of the resources allocation process in the economy.
Proxy Agency in Collective Action

This paper gives an account of proxy agency in the context of collective action. It takes the case of a group announcing something by way of a spokesperson as an illustration. In proxy agency, it seems that one person or subgroup's doing something counts as orconstitutes or is recognized as (tantamount to) another person or group's doing something. Proxy agency is pervasive in institutional action. It has been taken to be a straightforward counterexample to an appealing deflationary view of collective action as a matter of all members of a group making a contribution to bringing about some event. I show that this is a mistake. I give a deflationary account of constitutive rules in terms of essentially collective action types. I then give an account of one form of constitutive agency in terms of constitutive rules. I next give an account of status functions�of which being a spokesperson is one�that also draws on the concept of a constitutive rule. I then show how these materials help us to see how proxy agency is an expression of the agency of all members of the group credited with doing something when the proxy acts.
Catalysis by clusters with precise numbers of atoms

Clusters that contain only a small number of atoms can exhibit unique and often unexpected properties. The clusters are of particular interest in catalysis because they can act as individual active sites, and minor changes in size and composition--such as the addition or removal of a single atom--can have a substantial influence on the activity and selectivity of a reaction. Here, we review recent progress in the synthesis and characterization of well-defined subnanometre clusters, and the understanding and exploitation of their catalytic properties. We examine work on size-selected supported clusters in ultrahigh-vacuum environments and under realistic reaction conditions, and explore the use of computational methods to provide a mechanistic understanding of their catalytic properties. We also highlight the potential of size-selected clusters to provide insights into important catalytic processes and their use in the development of novel catalytic systems.
Economic Development in South Carolina: An Overview of Recent Trends and Future Prospects

This paper summarizes recent employment and earnings trends in South Carolina and reviews changes in the competitive environment that may impact future employment opportunities and earnings for the state's workers. The new competitive environment is characterized by greater global competition, a continuting shift from goods-producing to service-producing industries, new production organizations and technologies, and industrial restructuring. The implications of these structural changes for the state's businesses and workers are discussed, and public policy initiatives to prepare for these changes are suggested.
Nonresponse Bias Analysis of Body Mass Index Data in the Eating and Health Module

The ERS Eating and Health Module, a supplement to the American Time Use Survey (ATUS), included questions on height and weight so that respondents’ Body Mass Index (BMI — a measure of body fat based on height and weight) could be calculated and analyzed with ATUS time-use data in obesity research. Some respondents did not report height and/or weight, and BMIs could not be calculated for them. Analyses focusing on correlations between BMIs and time use could be biased if respondents who did not report height and/or weight differ significantly in other observable characteristics from the rest of the survey respondents. However, findings reveal that any nonresponse bias associated with the height and weight data appears to be small and would not affect future analyses of BMIs and time-use pattern correlations.
Axiomatic constructor classes in Isabelle/HOLCF

We have definitionally extended Isabelle/HOLCF to support axiomatic Haskell-style constructor classes. We have subsequently defined the functor and monad classes, together with their laws, and implemented state and resumption monad transformers as generic constructor class instances. This is a step towards our goal of giving modular denotational semantics for concurrent lazy functional programming languages, such as GHC Haskell.
Parametric Integer Programming: The Right-Hand-Side Case

Supported in part by the U.S. Army Research Office (Durham) under Contract DAHC04-73-C-0032.
Proof Styles in Operational Semantics

abs We relate two well-studied methodologies in deductive verification of operationally modeled sequential programs, namely the use of inductive invariants and clock functions. We show that the two methodologies are equivalent and one can mechanically transform a proof of a program in one methodology to a proof in the other. Both partial and total correctness are considered. This mechanical transformation is compositional; different parts of a program can be verified using different methodologies to achieve a complete proof of the entire program. The equivalence theorems have been mechanically checked by the ACL2 theorem prover and we implement automatic tools to carry out the transformation between the two methodologies in ACL2.
Cryptographic Protocol Composition via the Authentication Tests

Although cryptographic protocols are typically analyzed in isolation, they are used in combinations. If a protocol *** 1 , when analyzed alone, was shown to meet some security goals, will it still meet those goals when executed together with a second protocol *** 2 ? Not necessarily: for every *** 1 , some *** 2 s undermine its goals. We use the strand space "authentication test" principles to suggest a criterion to ensure a *** 2 preserves *** 1 's goals; this criterion strengthens previous proposals. Security goals for *** 1 are expressed in a language $\mathcal{L}$(*** 1 ) in classical logic. Strand spaces provide the models for $\mathcal{L}$(*** 1 ). Certain homomorphisms among models for $\mathcal{L}$(*** ) preserve the truth of the security goals. This gives a way to extract--from a counterexample to a goal that uses both protocols--a counterexample using only the first protocol. This model-theoretic technique, using homomorphisms among models to prove results about a syntactically defined set of formulas, appears to be novel for protocol analysis.
A Possible Aeronomy of Extrasolar Terrestrial Planets

Terrestrial planetary systems may exist around nearby stars as the Earthsized counterparts to the many giant planets already discovered within the solar neighborhood. In this chapter we first discuss the numerous techniques which have been suggested to search for extrasolar terrestrial planets. We then focus on the expected results from that technique in which an orbiting telescope or interferometer is used to obtain a visible or infrared spectrum of a planet, without contamination from the parent star. We show examples of such spectra for selected cases: the present Earth, the Neoproterozoic (snowball) Earth, a methane-rich Earth, and the present Mars and Venus. We conclude by discussing the implications of such spectra for the detection of life on an extrasolar terrestrial planet.
SUMMARIZING CURVATURE CONDITIONS FOR FLEXIBLE FUNCTIONAL FORMS

This article suggests that the two current approaches of summarizing curvature conditions for certain flexible function forms are neither intuitive nor robust to skewed distribution of exogenous variables. They also ignore the possible correlation pattern between exogenous variables. Arguing that the purpose of summarizing curvature condition is to provide either the changes of aggregated dependent variable with respect to a change of explanatory variable, or curvature conditions of a representative individual, this article proposes two methods to address this issue.
High efficiency oxide confined vertical cavity surface emitting lasers

Structures based on aluminum-oxide layers have led to dramatic improvements in VCSELs such as power conversion efficiencies in excess of 50% and threshold currents below 10 /spl mu/A. The low index, insulating aluminum-oxide, formed by selective wet thermal oxidation of AlGaAs, serves as an effective index guide as well as a current injection aperture. A substantial amount of design freedom exists with respect to the number and placement of apertures with published structures varying from single apertures to one per mirror period. In this paper we present data on devices with either two aligned apertures above and below the active region or with a single effective aperture above the active region leading to slope efficiencies of up to 1 W/A.
The Effects of School Spending on Educational and Economic Outcomes: Evidence from School Finance Reforms

Since the Coleman Report, many have questioned whether public school spending affects student outcomes. The school finance reforms that began in the early 1970s and accelerated in the 1980s caused dramatic changes to the structure of K–12 education spending in the United States. To study the effect of these school finance reform–induced changes in public school spending on long-run adult outcomes, we link school spending and school finance reform data to detailed, nationally representative data on children born between 1955 and 1985 and followed through 2011. We use the timing of the passage of court-mandated reforms and their associated type of funding formula change as exogenous shifters of school spending, and we compare the adult outcomes of cohorts that were differentially exposed to school finance reforms, depending on place and year of birth. Event study and instrumental variable models reveal that a 10% increase in per pupil spending each year for all 12 years of public school leads to 0.31 more completed years of education, about 7% higher wages, and a 3.2 percentage point reduction in the annual incidence of adult poverty; effects are much more pronounced for children from low-income families. Exogenous spending increases were associated with notable improvements in measured school inputs, including reductions in student-to-teacher ratios, increases in teacher salaries, and longer school years. JEL Codes: J10, I20, H7.
Heat and electricity from the Sun using parabolic dish collector systems

The paper investigates point focus distributed receiver (PFDR) solar thermal technology for the production of electric power and of industrial process heat. Attention is given to a thermal systems project conducted by JPL under DOE sponsorship. It is reported that project emphasis is on the development of cost-effective systems which will accelerate the commercialization and industrialization of plants up to 10 MWe, using parabolic dish collectors. Also discussed are the characteristics of PFDR systems, the cost targets for major systems hardware, and markets for this technology. Finally, the present system status of the technology development effort is discussed.
Adaptive real power capping method for fair overvoltage regulation of distribution networks with high penetration of PV systems

For distribution networks with a high penetration of photovoltaic (PV) systems, overvoltage is a common and major issue that needs be addressed to not only assure reliable and secure system operation, but also to fully utilize PV generation capacity. A new real power capping method is proposed in this paper to prevent overvoltages by adaptively setting the power caps for PV inverters in real time. The proposed method can maintain voltage profiles below a pre-set upper limit while maximizing the PV generation and fairly distributing the real power curtailments among all the PV systems in the network. As a result, each of the PV systems in the network has equal opportunity to generate electricity and shares the responsibility of voltage regulation. The method does not require global information and can be implemented either under a centralized supervisory control scheme or in a distributed way via consensus control. Both steady state and dynamic simulation studies under various scenarios have been carried out on a 33-bus distribution system and the IEEE 13-bus test feeder to verify the effectiveness of the method.
Some Limitations in Applying Classical EHD Film Thickness Formulas to a High-Speed Bearing

Elastohydrodynamic film thickness was measured for a 20-mm ball bearing using the capacitance technique. The bearing was thrust loaded to 90, 448, and 778 N. The corresponding maximum stresses on the inner race were 1.28, 2.09, and 2.45 GPa. Test speeds ranged from 400 to 14,000 rpm. Film thickness measurements were taken with four different lubricants: (a) synthetic paraffinic, (b) synthetic paraffinic with additives, (c) neopentylpolyol (tetra) ester meeting MIL-L-23699A specifications, and (d) synthetic cycloaliphatic hydrocarbon traction fluid. The test bearing was mist lubricated. Test temperatures were 300, 338, and 393 K. The measured results were compared to theoretical predictions using the formulas of Grubin, Archard and Cowking, Dowson and Higginson, and Hamrock and Dowson. There was good agreement with theory at low dimensionless speed, but the film was much smaller than theory predicts at higher speeds. This was due to kinematic starvation and inlet shear heating effects.
The Radio Afterglows of Gamma-Ray Bursts

Radio afterglow observations continue to provide complementary and sometimes unique diagnostics on gamma-ray burst explosions, their progenitors and their environments. In this review we will first describe current search strategies and the observational properties of the detected sample. In the second part of this review we will follow the evolution of a typical radio afterglow, describe the diverse phenomenology that is observed, and interpret these observations within the framework of the fireball model.
Solar cell design for avoiding LILT degradation

Growing concerns about radioisotope thermoelectric generator (RTG) performance potential, cost, safety, and availability have renewed interest in utilizing photovoltaic energy conversion for future JPL interplanetary missions such as the Mariner Mark II set. Although lightweight solar array technology has advanced to the point where it would appear to provide an alternative power source, anomalous silicon cell curve shape degradation at conditions of low intensity and low temperature (LILT) severely restricts photovoltaic applications for missions beyond 3 AU solar distance. In order to extend photovoltaic applications to distances of 5 AU, ways to minimize the deleterious impact of LILT cell degradation were investigated. These investigations have ranged from consideration of individual cell selection for LILT behavior to the examination of methods for reducing or eliminating cell LILT degradation by modifying the cell processing. Use of a partial oxide barrier between the cell n+ contacts and the silicon has been shown to reduce significantly both the occurrence and magnitude of the LILT degradation.
Decorrelating Detectors for a Dual Rate Synchronous DS/CDMA System

This paper addresses the use of decorrelating detectors for a dual rate DS/CDMA system that serves both low bit rate and high bit rate users. We assume that in an interval of duration T_0, a low rate user transmits one bit while a high rate user transmits M bits. Applying a standard decorrelator to the interval of duration T_0 yields an M bit processing delay for high rate users and a computational complexity that grows with M. In this paper, we propose a decorrelator that generates bit decisions for each high rate user in every subinterval of duration T_0/M. To decode a low rate user, a soft decoding rule applies maximal ratio combining on M separate decorrelated outputs of each low rate user. The soft decoding dual rate decorrelator eliminates the bit processing delay for high rate users and also reduces the computational complexity of a standard decorrelator. Further, it is shown that the asymptotic efficiency of the standard decorrelator is greater than or equal to the proposed decorrelator. By evaluation, it is observed that when the signature sequences have good correlation properties, the proposed soft decoding decorrelator is found to perform nearly as well as the standard decorrelator. However, when the signature sequences have high cross-correlation, then the proposed decorrelator suffers in terms of bit error rate while retaining the near-far resistance property.
A Banach space block finitely universal for monotone bases

A reflexive Banach space X with a basis (ei) is constructed having the property that every monotone basis is block finitely representable in each block basis of X.
On locally decodable source coding

With the boom of big data, traditional source coding techniques face the common obstacle to decode only a small portion of information efficiently. In this paper, we aim to resolve this difficulty by introducing a specific type of source coding scheme called locally decodable source coding (LDSC). Rigorously, LDSC is capable of recovering an arbitrary bit of the unencoded message from its encoded version, by only feeding a small number of the encoded message to the decoder, and we call the decoder t-local if only t encoded symbols are required.We consider both almost lossless (block error) and lossy (bit error) cases for LDSC. First, we show that using linear encoder and a decoder with bounded locality, the reliable compress rate can not be less than one. More importantly, we show that even with a general encoder and 2-local decoders (t = 2), the rate of LDSC is still one. On the contrary, the achievability bounds for almost lossless and lossy compressions with excess distortion suggest that optimal compression rate is achievable when O(log n) encoded symbols is queried by the decoder with block-length n. We also show that, rate distortion is achievable when the number of queries is scaled over n with a bound on the rate in finite-length regime. Although the achievability bounds are simply based on the concatenation of code blocks, they outperform the existing bounds in succinct data structures literature.
Orientational order of motile defects in active nematics

The study of liquid crystals at equilibrium has led to fundamental insights into the nature of ordered materials, as well as to practical applications such as display technologies. Active nematics are a fundamentally different class of liquid crystals, driven away from equilibrium by the autonomous motion of their constituent rod-like particles. This internally generated activity powers the continuous creation and annihilation of topological defects, which leads to complex streaming flows whose chaotic dynamics seem to destroy long-range order. Here, we study these dynamics in experimental and computational realizations of active nematics. By tracking thousands of defects over centimetre-scale distances in microtubule-based active nematics, we identify a non-equilibrium phase characterized by a system-spanning orientational order of defects. This emergent order persists over hours despite defect lifetimes of only seconds. Similar dynamical structures are observed in coarse-grained simulations, suggesting that defect-ordered phases are a generic feature of active nematics.
Quantifying the strategyproofness of mechanisms via metrics on payoff distributions

Strategyproof mechanisms provide robust equilibrium with minimal assumptions about knowledge and rationality but can be unachievable in combination with other desirable properties such as budget-balance, stability against deviations by coalitions, and computational tractability. In the search for maximally-strategyproof mechanisms that simultaneously satisfy other desirable properties, we introduce a new metric to quantify the strategyproofness of a mechanism, based on comparing the payoff distribution, given truthful reports, against that of a strategyproof "reference" mechanism that solves a problem relaxation. Focusing on combinatorial exchanges, we demonstrate that the metric is informative about the eventual equilibrium, where simple regret-based metrics are not, and can be used for online selection of an effective mechanism.
General-Purpose MCMC inference over relational structures

Tasks such as record linkage and multi-target tracking, which involve reconstructing the set of objects that underlie some observed data, are particularly challenging for probabilistic inference. Recent work has achieved efficient and accurate inference on such problems using Markov chain Monte Carlo (MCMC) techniques with customized proposal distributions. Currently, implementing such a system requires coding MCMC state representations and acceptance probability calculations that are specific to a particular application. An alternative approach, which we pursue in this paper, is to use a general-purpose probabilistic modeling language (such as BLOG) and a generic Metropolis-Hastings MCMC algorithm that supports user-supplied proposal distributions. Our algorithm gains flexibility by using MCMC states that are only partial descriptions of possible worlds; we provide conditions under which MCMC over partial worlds yields correct answers to queries. We also show how to use a context-specific Bayes net to identify the factors in the acceptance probability that need to be computed for a given proposed move. Experimental results on a citation matching task show that our general-purpose MCMC engine compares favorably with an application-specific system.
Devil's staircase – rotation number of outer billiard with polygonal invariant curves

ABSTRACTWe discuss rotation number associated with the invariant curve of a one parameter family of outer billiard tables. Given a convex polygon η, we consider the outer billiard table constructed by cutting out a fixed area from the interior of η. is piecewise hyperbolic and the polygon η is an invariant curve of under the billiard map φ. We show that, if β ∈ η is a periodic point under φ with rational rotation number , then φq is not the local identity at β. This proves that the rotation number τ as a function of the parameter is a devil's staircase function.
Smoothed analysis of symmetric random matrices with continuous distributions

We study invertibility of matrices of the form D + R, where D is an arbitrary symmetric deterministic matrix and is a symmetric random matrix whose independent entries have continuous distributions with bounded densities. We show that ||(D + R)^(-1)|| = O(n^2) with high probability. The bound is completely independent of D. No moment assumptions are placed on R; in particular the entries of R can be arbitrarily heavy-tailed.
Prompt Iron Enrichment, Two r-Process Components, and Abundances in Very Metal-Poor Stars.

We present a model to explain the wide range of abundances for heavy r-process elements (mass number A > 130) at low [Fe/H]. This model requires rapid star formation and/or an initial population of supermassive stars in the earliest condensed clots of matter in order to provide a prompt or initial Fe inventory. Subsequent Fe and r-process enrichment was provided by two types of supernovae: one producing heavy r-elements with no Fe on a rather short timescale and the other producing light r-elements (A ≤ 130) with Fe on a much longer timescale.
A Galaxy at z = 5.34*

We report the discovery of Lyα emission from a galaxy at z=5.34, the first object at z>5 with a spectroscopically confirmed redshift. The faint continuum emission [mAB(8000 A) ≈ 27], the relatively small rest-frame equivalent width of the emission line (WrestLyα ≈ 95 A), and the limits on the N V/Lyα ratio suggest that this is a star-forming galaxy and not an active galactic nucleus. The star formation rates implied by the UV continuum emission and the Lyα emission are (in the absence of dust extinction) fairly modest (~6 h−250 M☉ yr-1 for q0=0.5). The continuum luminosity is similar to that of sub-L*1500 star-forming galaxies at z~3, and the width of the Lyα line yields an upper limit to the mass of less than 2.6×1010 M☉. The strong emission line detected in this low-luminosity galaxy provides hope for the discovery of higher luminosity primeval galaxies at redshifts z>5.
Methodological Nationalism, Migration and Political Theory:

The political theory of migration has largely occurred within a paradigm of methodological nationalism and this has led to the neglect of morally salient agents and causes. This article draws on research from the social sciences on the transnationalism, globalization and migration systems theory to show how methodological nationalist assumptions have affected the views of political theorists on membership, culture and distributive justice. In particular, it is contended that methodological nationalism has prevented political theorists of migration from addressing the roles of non-state agents and of transnational economic, social and political structures. These agents and structures contribute to the asymmetrical distribution of goods and opportunities and thus have important implications for debates about migration and distributive justice.
Decentralization (localization) and corruption : new cross-country evidence

This paper attempts to improve the understanding and measurement of decentralization and its relationship with corruption in a worldwide context. This is done by presenting the conceptual underpinnings of such relationship as well as using superior and more defensible measures of both decentralization in its various dimensions as well as corruption for a sample of 182 countries. It is the first paper that treats various tiers of local governments (below the inter-mediate order of government) as the unit of comparative analysis. In contrast, previous analyses erroneously focused on subnational governments as the unit of analysis which yields invalid cross-country comparisons. By pursuing rigorous econometric analysis, the paper demonstrates that decentralization, when properly measured to mean moving government closer to people by empowering local governments, is shown to have significant negative effect on the incidence of corruption regardless of the choice of the estimation procedures or the measures of corruption used. In terms of various dimensions of decentralized local governance, political decentralization matters even when we control for fiscal decentralization. Further voice (political accountability) is empirically shown to be more important in combating corruption than exit options made available through competition among jurisdictions.
Decomposition of Gender or Racial Inequality with Endogenous Intervening Covariates An Extension of the DiNardo-Fortin-Lemieux Method

This paper begins by clarifying that propensity-score weighting in the DiNardo-Fortin-Lemieux (DFL) decomposition analysis—unlike propensity-score weighting in Rubin’s causal model, in which confou...
Component Evolution in General Random Intersection Graphs

Random intersection graphs (RIGs) are an important random structure with algorithmic applications in social networks, epidemic networks, blog readership, and wireless sensor networks. RIGs can be interpreted as a model for large randomly formed non-metric data sets. We analyze the component evolution in general RIGs, giving conditions on the existence and uniqueness of the giant component. Our techniques generalize existing methods for analysis of component evolution: we analyze survival and extinction properties of a dependent, inhomogeneous Galton-Watson branching process on general RIGs. Our analysis relies on bounding the branching processes and inherits the fundamental concepts of the study of component evolution in Erdős-Renyi graphs. The major challenge comes from the underlying structure of RIGs, which involves both a set of nodes and a set of attributes, with different probabilities associated with each attribute.
The impact of secondary schooling in Kenya : a regression discontinuity analysis

This paper estimates the impacts of secondary school on human capital, occupational choice, and fertility for young adults in Kenya. The probability of admission to government secondary school rises sharply at a score close to the national mean on a standardized 8th grade examination, permitting the estimation of causal effects of schooling in a regression discontinuity framework. The analysis combines administrative test score data with a recent survey of young adults to estimate these impacts. The results show that secondary schooling increases human capital, as measured by performance on cognitive tests included in the survey. For men, there is a drop in the probability of low-skill self-employment, as well as suggestive evidence of a rise in the probability of formal employment. The opportunity to attend secondary school also reduces teen pregnancy among women.
Estimation of Treatment Effects in Matched-Pair Cluster Randomized Trials by Calibrating Covariate Imbalance between Clusters

Summary We address estimation of intervention effects in experimental designs in which (a) interventions are assigned at the cluster level; (b) clusters are selected to form pairs, matched on observed characteristics; and (c) intervention is assigned to one cluster at random within each pair. One goal of policy interest is to estimate the average outcome if all clusters in all pairs are assigned control versus if all clusters in all pairs are assigned to intervention. In such designs, inference that ignores individual level covariates can be imprecise because cluster-level assignment can leave substantial imbalance in the covariate distribution between experimental arms within each pair. However, most existing methods that adjust for covariates have estimands that are not of policy interest. We propose a methodology that explicitly balances the observed covariates among clusters in a pair, and retains the original estimand of interest. We demonstrate our approach through the evaluation of the Guided Care program.
Asymmetric demographic shocks and institutions: The impact on international capital flows and welfare

This paper examines the consequences of an asymmetric negative fertility shock on capital formation, saving/investment imbalance, and welfare. The framework of analysis is a Diamond-type overlapping-generations small open economy with capital market imperfection. The capital market imperfection is modelled through a symmetric wedge between foreign investor and domestic investor return on capital. The shock is transmitted to the small open economy depending on whether the wedge is below a given threshold. If the wedge is not too high, capital first flows in the small open economy to exploit the di¤erence in returns on capital. After the shock has occurred, capital is repatriated in order to �nance the old age consumption of rest of the world investors. If capital flows internationally, lifetime utility in the small open economy decreases unambiguously for individuals born one period before the shock occurs. Provided that the small open economy is initially below its golden rule, individuals born after the time the shock has occurred experience an increase in their lifetime utility.
Probability of Fixation of an Advantageous Mutant in a Viral Quasispecies

The probability that an advantageous mutant rises to fixation in a viral quasispecies is investigated in the framework of multitype branching processes. Whether fixation is possible depends on the overall growth rate of the quasispecies that will form if invasion is successful rather than on the individual fitness of the invading mutant. The exact fixation probability can be calculated only if the fitnesses of all potential members of the invading quasispecies are known. Quasispecies fixation has two important characteristics: First, a sequence with negative selection coefficient has a positive fixation probability as long as it has the potential to grow into a quasispecies with an overall growth rate that exceeds that of the established quasispecies. Second, the fixation probabilities of sequences with identical fitnesses can nevertheless vary over many orders of magnitudes. Two approximations for the probability of fixation are introduced. Both approximations require only partial knowledge about the potential members of the invading quasispecies. The performance of these two approximations is compared to the exact fixation probability on a network of RNA sequences with identical secondary structure.
Regional climate change of the greater Zambezi River Basin: A hybrid assessment

Projections of regional changes in surface-air temperature and precipitation, in response to unconstrained emissions as well as a climate mitigation policy, for the Zambezi River Basin (ZRB) are presented. These projections are cast in a probabilistic context through a hybrid technique that combines the projections of the MIT Integrated Global System Model (IGSM) to pattern-change kernels from climate-model results of the Coupled Model Intercomparison Project (CMIP). Distributional changes of precipitation and surface-air temperature averaged over the western and eastern ZRB are considered. Overall, the most significant response to climate policy is seen in the spring. Frequency distributions of precipitation change for the unconstrained emission scenario indicate a majority of the outcomes to be drier by 2050, although the distribution spans both increased and decreased precipitation. Through climate policy, the distributions’ total range of outcomes collapses considerably, and perhaps more importantly, the mode of the distribution aligns with zero precipitation change. For surface-air temperature, climate policy consistently reduces the modal value of warming, and this reduction is strongest for the western ZRB. Climate policy also considerably abates the occurrence of the most extreme temperature increases, but the minimum warming in the distributions is less affected.
Multi-Level Anomaly Detection on Time-Varying Graph Data

This work presents a novel modeling and analysis framework for graph sequences which addresses the challenge of detecting and contextualizing anomalies in labeled, streaming graph data. We introduce a generalization of the BTER model of Seshadhri et al. by adding flexibility to community structure, and use this model to perform multi-scale graph anomaly detection. Specifically, probability models describing coarse subgraphs are built by aggregating node probabilities, and these related hierarchical models simultaneously detect deviations from expectation. This technique provides insight into the graphs' structure and helps contextualized detected event. For evaluation, two new hierarchical detectors are tested against a baseline Gaussian method on a synthetic graph sequence with seeded anomalies. We demonstrate that in a labeled setting with community structure, our graph statistics-based approach outperforms both a distribution-based detector and the baseline, accurately detecting anomalies at the node, subgraph, and graph levels.
Solar System: sifting through the debris.

A quadrillion previously unnoticed small bodies beyond Neptune have been spotted as they dimmed X-rays from a distant source. Models of the dynamics of debris in the Solar System's suburbs must now be reworked.
Comparing mean reverting versus pure diffusion interest rate processes in valuing postponement options

Using a simulation approach, we analyze the effect of mean reversion on the value of capital budgeting postponement options. Two interest rate processes are compared: a pure diffusion process and a stochastic mean reversion process. The mean reverting process generates interest rate paths that are consistent with historically observed rates. Because option values depend not only on the variance of rates but also on the pattern of rate diffusion across time, a pure diffusion process may lead to significant mispricing of options if the true process is mean reverting. We analyze mispricing for different yield curve scenarios and as a function of the differencing interval used to measure volatility.
Decentralized control of large flexible structures by joint decoupling

A decentralized control design method is presented for large complex flexible structures by using the idea of joint decoupling. The derivation is based on a coupled substructure state-space model, which is obtained from enforcing conditions of interface compatibility and equilibrium to the substructure state-space models. It is shown that by restricting the control law to be localized state feedback and by setting the joint actuator input commands to decouple joint 'degrees of freedom' (dof) from interior dof, the global structure control design problem can be decomposed into several substructure control design problems. The substructure control gains and substructure observers are designed based on modified substructure state-space models. The controllers produced by the proposed method can operate successfully at the individual substructure level as well as at the global structure level. Therefore, not only control design but also control implementation is decentralized. Stability and performance requirement of the closed-loop system can be achieved by using any existing state feedback control design method. A two-component mass-spring damper system and a three-truss structure are used as examples to demonstrate the proposed method.
Bi-immunity separates strong NP-completeness notions

We prove that if for some e > 0, NP contains a set that is DTIME(2ne))-bi-immune, then NP contains a set that is 2-Turing complete for NP (hence 3-truth-table complete) but not 1-truth-table complete for NP. Thus this hypothesis implies a strong separation of completeness notions for NP. Lutz and Mayordomo (Theor. Comput. Sci. 164 (1996) 141-163) and Ambos-Spies and Bentzien (J. Comput. Syst. Sci. 61(3) (2000) 335-361) previously obtained the same consequence using strong hypotheses involving resource-bounded measure and/or category theory. Our hypothesis is weaker and involves no assumptions about stochastic properties of NP.
Learning, Asset-Pricing Tests, and Market Efficiency

This paper studies the asset-pricing implications of parameter uncertainty. We show that, when investors must learn about expected cash f lows, empirical tests can find patterns in the data that differ from those perceived by rational investors. Returns might appear predictable to an econometrician, or appear to deviate from the Capital Asset Pricing Model, but investors can neither perceive nor exploit this predictability. Returns may also appear excessively volatile even though prices react efficiently to cash-f low news. We conclude that parameter uncertainty can be important for characterizing and testing market efficiency. THERE IS MUCH EVIDENCE THAT STOCK RETURNS are predictable. At the aggregate level, variables such as interest rates, financial ratios, and the default premium appear to forecast stock returns ~e.g., Fama and French ~1989! and Lewellen ~2001!!. Further, LeRoy and Porter ~1981! and Shiller ~1981! argue that price volatility cannot be explained solely by changes in dividends, providing indirect evidence that stock returns are predictable. At the firm level, Fama and French ~1992, 1996! and Jegadeesh and Titman ~1993! show that size, book-to-market, and past returns together explain much of the crosssectional variation in average returns. There seems little doubt that expected returns vary both cross-sectionally and over time. The interpretation of predictability is more contentious. The empirical results are potentially consistent with either market efficiency or mispricing. In general terms, market efficiency implies that prices fully ref lect available information. To formalize this idea for empirical testing, Fama ~1976! distinguishes between the probability distribution of returns perceived by “the market,” based on whatever information investors view as relevant, and the true distribution of returns conditional on all information. The market is said to be ~informationally! efficient if these distributions are the same. It follows that, in an efficient market, investors should be aware of any cross* Lewellen is from the MIT Sloan School of Management and Shanken is from the Simon Graduate School of Business Administration at the University of Rochester, and NBER. We are
Key Issues for Global it Sourcing: Country and Individual Factors

Abstract On October 2, 1989, a deal was signed that would forever change the landscape of IT sourcing. In an agreement worth nearly $250 million, Eastman Kodak deliberately and strategically handed over control of its data center operations to IBM. While not the first major outsourcing contract of its day, Kodak's move was a harbinger of a new IT sourcing trend. In the 15 years since the Kodak deal, “outsourcing” has moved past being a strategic business option to becoming the “pervasive paradigm” of businesses in the new millennium (Bendor-Samuels, 2000).
The Impact of Electronic Charge on Catalytic Reactivity and Selectivity of Metal-Oxide Supported Metallic Nanoparticles

The catalytic reactivity and selectivity of metallic nanoclusters supported on a metal-oxide can be tuned by electronic charge. In this review, different approaches for controlling the electronic properties of metallic nanoclusters and its impact on catalytic reactions are discussed. Electronic charge can transfer from the metal-oxide support to the metallic catalyst and change the metal–reactants interaction and as a consequence modify as-well the catalytic reactivity and selectivity. In other cases, the electronic properties of the metal-oxide have an active role in the catalytic process and the metal oxide can be used as a co-catalyst. Another approach is to directly change the electronic properties of the metallic catalyst. It is demonstrated that dendrimer-encapsulated metallic nanoparticles can be directly oxidized by the addition of an inorganic oxidizer to the solution phase. In this case, even while supported on inert oxides, novel catalytic reactivity and selectivity can be gained by the formation of highly oxidized metal ions.
Baryon junction stopping at the SPS and RHIC via HIJING/B

The systematic study of baryon stopping and hyperon production in pp, pA, and AA collisions is essential in order to differentiate the sought after new physics of dense equilibrated matter from non-equilibrium multi-particle production dynamics1. Baryon stopping refers to the transport of baryon number in rapidity space away from the nuclear fragmentation regions and is measured through the single inclusive rapidity distribution of protons and hyperons. As discussed in two papers2,3, recent SPS data shows a high degree of baryon stopping and anomalous hyperon production. These findings are based on comparisons of predictions using the HIJING5 and VENUS6 Monte Carlo event generators with SPS data for p + A and A + B collisions. In particular, the baryon stopping mechanism modeled in HIJING was found to underestimate the stopping in heavy nuclear collisions, while VENUS model was able to reproduce the baryon stopping and strange baryon production by introducing a new non-equilibrium dynamical mechanism called the double string. The scattering and subsequent hadronization mechanisms in HIJING, adapted from the LUND Fritiof7 and dual parton model (DPM)8, involves diquark-quark string excitations (see Fig 1a) followed by string breaking. The final valence baryons in this model always emerge within about a unit of rapidity from those of the unbroken diquarks. This association of the baryon with the end point diquark creates a characteristic baryon rapidity distribution where the baryons are concentrated near the beam and target fragmentation regions as shown in Fig 4a, c.
Uncoupling Protein-1 and Related Messenger Ribonucleic Acids in Human Epicardial and Other Adipose Tissues: Epicardial Fat Functioning as Brown Fat

Context: Uncoupling protein-1 (UCP-1) is the inner mitochondrial membrane protein that is a specific marker for and mediator of nonshivering thermogenesis in brown adipocytes. Objective: This study was performed to better understand the putative thermogenic function of human epicardial fat. Design: We measured the expression of UCP-1 and brown adipocyte differentiation transcription factors PR-domain-missing 16 (PRDM16) and peroxisome-proliferator-activated receptor γ co-activator-1α (PGC-1α) in epicardial, substernal, and sc thoracic, abdominal, and leg fat. Setting: The study was conducted at a tertiary care hospital cardiac center. Patients: Forty-four patients had coronary artery bypass surgery, and six had heart valve replacement. Interventions: Fat samples were taken at open heart surgery. Results: UCP-1 expression was 5-fold higher in epicardial fat than substernal fat and barely detectable in sc fat. Epicardial fat UCP-1 expression decreased with age, increased with body mass index, was similar in...