wanyu/IteraTeR_full_sent huggingface dataset:
Original:  The results indicate that living cells realize optimal search strategies for various intracellular transport problems %DIFDELCMD < {\it %%% economically through a spatial URLanization that involves  only a narrow actin cortex rather than a cell body filled with randomly oriented actin filaments.
Revised:  The results indicate that living cells realize optimal search strategies for various intracellular transport problems %DIFDELCMD < {\it %%% economically through a spatial URLanization that involves only a narrow actin cortex rather than a cell body filled with randomly oriented actin filaments.
Edit intent: fluency
Original:  The results indicate that living cells realize optimal search strategies for various intracellular transport problems %DIFDELCMD < {\it %%% economically through a spatial URLanization that involves  only a narrow actin cortex rather than a cell body filled with randomly oriented actin filaments.
Revised:  The results indicate that living cells realize optimal search strategies for various intracellular transport problems %DIFDELCMD < {\it %%% economically through a spatial URLanization that involves radial microtubules in the central region and only a narrow actin cortex rather than a cell body filled with randomly oriented actin filaments.
Edit intent: meaning-changed
Original: We consider an investor faced with the classical portfolio problem of optimal investment in a log- Brownian stock and a fixed-interest bond, but constrained to choose portfolio and consumption strategies which reduce a dynamic shortfall risk measure.
Revised: We consider an investor faced with the classical portfolio problem of optimal investment in a log-Brownian stock and a fixed-interest bond, but constrained to choose portfolio and consumption strategies which reduce a dynamic shortfall risk measure.
Edit intent: fluency
Original: We consider an investor faced with the classical portfolio problem of optimal investment in a log- Brownian stock and a fixed-interest bond, but constrained to choose portfolio and consumption strategies which reduce a dynamic shortfall risk measure.
Revised: We consider an investor faced with the classical portfolio problem of optimal investment in a log- Brownian stock and a fixed-interest bond, but constrained to choose portfolio and consumption strategies that reduce a dynamic shortfall risk measure.
Edit intent: fluency
Original: We consider an investor faced with the classical portfolio problem of optimal investment in a log-Brownian stock and a fixed-interest bond, but constrained to choose portfolio and consumption strategies that reduce a dynamic shortfall risk measure.
Revised: We consider an investor facing a classical portfolio problem of optimal investment in a log-Brownian stock and a fixed-interest bond, but constrained to choose portfolio and consumption strategies that reduce a dynamic shortfall risk measure.
Edit intent: fluency
Original: We derive a  semi-analytic  solution for a stock loan driven by a hyper-exponential model (HEM) in which the lender is allowed to liquidate when the stock drops to a sufficiently low price.
Revised: We derive a " semi-analytic solution for a stock loan driven by a hyper-exponential model (HEM) in which the lender is allowed to liquidate when the stock drops to a sufficiently low price.
Edit intent: fluency
Original: We derive a  semi-analytic  solution for a stock loan driven by a hyper-exponential model (HEM) in which the lender is allowed to liquidate when the stock drops to a sufficiently low price.
Revised: We derive a semi-analytic " solution for a stock loan driven by a hyper-exponential model (HEM) in which the lender is allowed to liquidate when the stock drops to a sufficiently low price.
Edit intent: fluency
Original: We derive a  semi-analytic  solution for a stock loan driven by a hyper-exponential model (HEM) in which the lender is allowed to liquidate when the stock drops to a sufficiently low price. To do so, we extend a result of N. Cai et al. regarding the generalized Laplace transform of the first passage time of the HEM to two flat barriers, which is of independent interest .
Revised: We derive a semi-analytic solution for a stock loan driven by a hyper-exponential model (HEM) in which the lender forces liquidation when the loan-to-collateral ratio drops beneath a certain threshold. We use this to study the sensitivity of the contract to model parameters .
Edit intent: clarity
Original:  Shockingly, the rule beats equal weight by a factor of 1.24 and posts annual returns that exceed even those once allegedly promised by Bernie Madoff .
Revised:  Rather surprisingly, over the 1958-2016 horizon, the cumulative returns of MaxMedian beat those of the equally weighted S\&P 500 portfolio by a factor of 1.24 and posts annual returns that exceed even those once allegedly promised by Bernie Madoff .
Edit intent: meaning-changed
Original: Should employers pay their employees better? Although this question might appear provoking because lowering production costs remains a cornerstone of the contemporary economy, we present new evidence highlighting the benefits a company might reap by paying its employees better. We introduce an original methodology that uses firm economic and financial indicators to build factors that are more uncorrelated than in the classical Fama and French setting. As a result, we uncover a new anomaly in asset pricing that is linked to the average employee remuneration: the more a company spends on salaries and benefits per employee, the better its stock performs, on average.
Revised: We uncover a new anomaly in asset pricing that is linked to the average employee remuneration: the more a company spends on salaries and benefits per employee, the better its stock performs, on average.
Edit intent: coherence
Original:  As a result, we uncover a new anomaly in asset pricing that is linked to the average employee remuneration: the more a company spends on salaries and benefits per employee, the better its stock performs, on average.
Revised:  As a result, we uncover a new anomaly in asset pricing that is linked to the remuneration: the more a company spends on salaries and benefits per employee, the better its stock performs, on average.
Edit intent: clarity
Original:  We ensure that the abnormal performance associated with employee remuneration is not explained by other factors, such as stock indexes, capitalization, book-to-market value , or momentum. A plausible rational explanation of the remuneration anomaly involves the positive correlation between pay and employee performance.
Revised:  Moreover, the companies adopting similar remuneration policies share a common risk, which is comparable to that of the value premium. For this purpose,we set up an original methodology that uses firm financial characteristics to build factors that are less correlated than in the standard asset pricing methodology. We quantify the importance of these factors from an asset pricing perspective by introducing the factor correlation level as a directly accessible proxy of eigenvalues of the correlation matrix. A rational explanation of the remuneration anomaly involves the positive correlation between pay and employee performance.
Edit intent: meaning-changed
Original:  Using data from Great Britain, US and Denmark , we show that the commuting distance is (i) broadly distributed with a tail decaying typically as 1/r^\gamma with \gamma \approx 3 and (ii) an average growing slowly as a power law with an exponent less than one that depends on the country considered.
Revised:  Using data from Denmark, the UK, and the US , we show that the commuting distance is (i) broadly distributed with a tail decaying typically as 1/r^\gamma with \gamma \approx 3 and (ii) an average growing slowly as a power law with an exponent less than one that depends on the country considered.
Edit intent: clarity
Original:  Using data from Great Britain, US and Denmark , we show that the commuting distance is (i) broadly distributed with a tail decaying typically as 1/r^\gamma with \gamma \approx 3 and (ii) an average growing slowly as a power law with an exponent less than one that depends on the country considered.
Revised:  Using data from Great Britain, US and Denmark , we show that the commuting distance is (i) broadly distributed with a slow decaying tail that can be fitted by a power law with exponent \gamma \approx 3 and (ii) an average growing slowly as a power law with an exponent less than one that depends on the country considered.
Edit intent: meaning-changed
Original:  The classical theory for job search is based on the idea that workers evaluate potential jobs on the wage as they arrive sequentially through time . Extending this model with space, we obtain predictions that are strongly contradicted by our empirical findings.
Revised:  The classical theory for job search is based on the idea that workers evaluate the wage of potential jobs as they arrive sequentially through time . Extending this model with space, we obtain predictions that are strongly contradicted by our empirical findings.
Edit intent: clarity
Original:  The classical theory for job search is based on the idea that workers evaluate potential jobs on the wage as they arrive sequentially through time . Extending this model with space, we obtain predictions that are strongly contradicted by our empirical findings.
Revised:  The classical theory for job search is based on the idea that workers evaluate potential jobs on the wage as they arrive sequentially through time , and extending this model with space, we obtain predictions that are strongly contradicted by our empirical findings.
Edit intent: coherence
Original:  Specifically, we model the interaction between cells in the proximal tubule of the kidney and free light chains produced by the myeloma monoclonal protein .
Revised:  Specifically, we model the interaction between cells in the proximal tubule of the kidney and free light chains , renal fibroblasts, and myeloma cells. We analyze the model for steady-state solutions to find a mathematically and biologically relevant stable steady-state solution. This foundational model provides a representation of dynamics between key populations in tubulointerstitial fibrosis that demonstrates how these populations interact to affect patient prognosis in patients with MM and renal impairment .
Edit intent: meaning-changed
Original:  These findings severely question the assumption of comonotonicity in a world of "discounted" capital positions and seem to call for a renewed discussion about the meaning and the role of comonotonicity within a capital adequacy framework  .
Revised:  The incompatibility with risky eligible assets is systematic whenever the acceptability criterion is based on Value at Risk or any convex distortion risk measures such as Expected Shortfall. These findings show the limitations of the concept of comonotonicity in a world of "discounted" capital positions and seem to call for a renewed discussion about the meaning and the role of comonotonicity within a capital adequacy framework .
Edit intent: meaning-changed
Original:  These findings severely question the assumption of comonotonicity in a world of "discounted" capital positions and seem to call for a renewed discussion about the meaning and the role of comonotonicity within a capital adequacy framework  .
Revised:  These findings severely question the assumption of comonotonicity in a world without risk-free assets and raise questions about the meaning and the role of comonotonicity within a capital adequacy framework .
Edit intent: clarity
Original:  These findings severely question the assumption of comonotonicity in a world of "discounted" capital positions and seem to call for a renewed discussion about the meaning and the role of comonotonicity within a capital adequacy framework  .
Revised:  These findings severely question the assumption of comonotonicity in a world of "discounted" capital positions and seem to call for a renewed discussion about the meaning and the role of comonotonicity within a capital adequacy framework . We also point out some potential traps when using comonotonicity for "discounted" capital positions .
Edit intent: meaning-changed
Original:  These findings show the limitations of the concept of comonotonicity in a world without risk-free assets and raise questions about the meaning and the role of comonotonicity within a capital adequacy framework. We also point out some potential traps when using comonotonicity for "discounted" capital positions .
Revised:  These findings show the limitations of the concept of comonotonicity in a world without risk-free assets and raise questions about the meaning and the role of comonotonicity within a capital adequacy context .
Edit intent: clarity
Original:  We propose a new wavelet-based estimator of quadratic covariation that is able to disentangle the continuous part of quadratic covariation from co-jumps  .
Revised:  We propose a new wavelet-based estimator of quadratic covariation that is able to disentangle the continuous part of quadratic covariation from co-jumps , and study the influence of co-jumps on correlations, we propose a new wavelet-based estimator .
Edit intent: meaning-changed
Original:  The proposed estimation framework is able to localize the co-jumps very precisely through wavelet coefficients and identify the statistically significant co-jumps using bootstrapped test statistics . Empirical findings reveal the different behaviors of co-jumps during Asian, European and U.S. trading sessions.
Revised:  The proposed estimation framework is able to localize the co-jumps very precisely through wavelet coefficients and identify statistically significant co-jumps using bootstrapped test statistics . Empirical findings reveal the different behaviors of co-jumps during Asian, European and U.S. trading sessions.
Edit intent: fluency
Original:  The proposed estimation framework is able to localize the co-jumps very precisely through wavelet coefficients and identify the statistically significant co-jumps using bootstrapped test statistics . Empirical findings reveal the different behaviors of co-jumps during Asian, European and U.S. trading sessions.
Revised:  The proposed estimation framework is able to localize the co-jumps very precisely through wavelet coefficients and identify the statistically significant co-jumps . Empirical findings reveal the different behaviors of co-jumps during Asian, European and U.S. trading sessions.
Edit intent: clarity
Original: There is growing consensus that processes of market integration and risk diversification may come at the price of more systemic risk. Indeed, financial institutions are interconnected in a network of contracts where distress can either be amplified or dampened .
Revised: Following the financial crisis of 2007-2008, a deep analogy between the origins of instability in financial systems and complex ecosystems has been pointed out: in both cases, topological features of network structures influence how easily distress can spread within the system .
Edit intent: meaning-changed
Original:  However, a mathematical understanding of instability in relation to the network topology is still lacking. In a model financial network, we show that the origin of instabilityresides in the presence of specific types of cyclical structures , regardless of many of the details of the distress propagation mechanism.
Revised:  However, in financial network models, the details of how financial institutions interact typically play a decisive role, and a general understanding of precisely how network topology creates instability remains lacking. Here we show how processes that are widely believed to stabilise the financial system, i.e. market integration and diversification, can actually drive it towards instability, as they contribute to create cyclical structures which tend to amplify financial distress, thereby undermining systemic stability and making large crises more likely. This result holds irrespective of the origin of instabilityresides in the presence of specific types of cyclical structures , regardless of many of the details of the distress propagation mechanism.
Edit intent: meaning-changed
Original:  In a model financial network, we show that the origin of instabilityresides in the presence of specific types of cyclical structures , regardless of many of the details of the distress propagation mechanism. In particular, we show the existence of trajectories in the space of graphs along which a complex network turns from stable to unstable, although at each point along the trajectory its nodes satisfy constraints that would apparently make them individually stable. In the financial context, our findings have important implications for policies aimed at increasing financial stability . We illustrate the propositions on a sample dataset for the top 50 EU listed banks between 2008 and 2013. More in general, our results shed light on previous findings on the instability of model ecosystems and are relevant for a broad class of dynamical processes on complex networks .
Revised:  In a model financial network, we show that the origin of instabilityresides in the presence of specific types of cyclical structures , regardless of many of the details of how institutions interact, showing that policy-relevant analysis of the factors affecting financial stability can be carried out while abstracting away from such details .
Edit intent: clarity
Original: This paper specializes a number of earlier contributions to the theory of valuation of financial products in presence of credit risk, repurchase agreements and funding costs. Earlier works, including our own, pointed to the need of tools such as Backward Stochastic Differential Equations (BSDEs) or semi-linear Partial Differential Equations (PDEs), which in practice translate to ad-hoc numerical methods that are time-consuming and which render the full valuation and risk analysis difficult. We specialize here the valuation framework to benchmark derivatives and we show that, under a number of simplifying assumptions, the valuation paradigm can be recast as a Black-Scholes model with dividends.
Revised: We take the holistic approach of computing an OTC claim value that incorporates credit and funding liquidity risks and their interplays, instead of forcing individual price adjustments: CVA, DVA, FVA, KVA. The resulting nonlinear mathematical problem features semilinear PDEs and FBSDEs. We show that for the benchmark vulnerable claim there is an analytical solution, and we express it in terms of the Black-Scholes model with dividends.
Edit intent: coherence
Original:  We specialize here the valuation framework to benchmark derivatives and we show that, under a number of simplifying assumptions, the valuation paradigm can be recast as a Black-Scholes model with dividends.
Revised:  We specialize here the valuation framework to benchmark derivatives and we show that, under a number of simplifying assumptions, the valuation paradigm can be recast as a Black-Scholes formula with dividends.
Edit intent: clarity
Original:  In turn, this allows for a detailed valuation analysis, stress testing and risk analysis via sensitivities . We refer to the full paper 5%DIFDELCMD < ] %%% for a more complete mathematical treatment .
Revised:  In turn, this allows for a detailed valuation analysis, stress testing and risk analysis via sensitivities 5%DIFDELCMD < ] %%% for a more complete mathematical treatment .
Edit intent: coherence
Original: When optimizing the Sharpe ratio over a k-dimensional parameter space the thus obtained in-sample Sharpe ratio tends to be higher than what will be captured out-of-sample.
Revised: We derive (1) an unbiased estimator for the out-of-sample Sharpe ratio when the in-sample Sharpe ratio is obtained by optimizing over a k-dimensional parameter space the thus obtained in-sample Sharpe ratio tends to be higher than what will be captured out-of-sample.
Edit intent: meaning-changed
Original: When optimizing the Sharpe ratio over a k-dimensional parameter space the thus obtained in-sample Sharpe ratio tends to be higher than what will be captured out-of-sample. For two reasons: the estimated parameter will be skewed towards the noise in the in-sample data (noise fitting) and, second, the estimated parameter will deviate from the optimal parameter (estimation error). This article derives a simple correction for both.
Revised: When optimizing the Sharpe ratio over a k-dimensional parameter space the thus obtained in-sample Sharpe ratio for both: noise fit and estimation error. We then show (2) how to use the corrected Sharpe ratio as model selection criterion analogous to the Akaike Information Criterion (AIC).
Edit intent: coherence
Original:  Selecting a model with the highest corrected Sharpe  selects the model with the highest expected out-of-sample Sharpe  in the same way as selection by Akaike Information Criterion does for the log-likelihood as measure of fit.
Revised:  Selecting a model with the highest corrected Sharpe ratio selects the model with the highest expected out-of-sample Sharpe in the same way as selection by Akaike Information Criterion does for the log-likelihood as measure of fit.
Edit intent: clarity
Original:  Selecting a model with the highest corrected Sharpe  selects the model with the highest expected out-of-sample Sharpe  in the same way as selection by Akaike Information Criterion does for the log-likelihood as measure of fit.
Revised:  Selecting a model with the highest corrected Sharpe selects the model with the highest estimated out-of-sample Sharpe in the same way as selection by Akaike Information Criterion does for the log-likelihood as measure of fit.
Edit intent: clarity
Original:  Selecting a model with the highest corrected Sharpe  selects the model with the highest expected out-of-sample Sharpe  in the same way as selection by Akaike Information Criterion does for the log-likelihood as measure of fit.
Revised:  Selecting a model with the highest corrected Sharpe selects the model with the highest expected out-of-sample Sharpe ratio in the same way as selection by Akaike Information Criterion does for the log-likelihood as measure of fit.
Edit intent: clarity
Original:  Selecting a model with the highest corrected Sharpe  selects the model with the highest expected out-of-sample Sharpe  in the same way as selection by Akaike Information Criterion does for the log-likelihood as measure of fit.
Revised:  Selecting a model with the highest corrected Sharpe selects the model with the highest expected out-of-sample Sharpe in the same way as selection by AIC does for the log-likelihood as measure of fit.
Edit intent: clarity
Original: We derive (1) an unbiased estimator for the out-of-sample Sharpe ratio when the in-sample Sharpe ratio is obtained by optimizing over a k-dimensional parameter space . The estimator corrects the in-sample Sharpe ratio for both : noise fit and estimation error.
Revised: We derive (1) an unbiased estimator for the out-of-sample Sharpe ratio when the in-sample Sharpe ratio is obtained by optimizing over a k-dimensional parameter space , it is a biased estimator for what can be expected on unseen data (out-of-sample). We derive (1) an unbiased estimator adjusting for both sources of bias : noise fit and estimation error.
Edit intent: meaning-changed
Original:  Selecting a model with the highest corrected Sharpe ratio selects the model with the highest estimated out-of-sample Sharpe ratio in the same way as selection by AIC does for the log-likelihood as measure of fit.
Revised:  Selecting a model with the highest adjusted Sharpe ratio selects the model with the highest estimated out-of-sample Sharpe ratio in the same way as selection by AIC does for the log-likelihood as measure of fit.
Edit intent: clarity