Mutagen and Oncogen Study on N-Phenyl-Alpha-Naphthylamine

DTIC Science & Technology

1976-12-01

several dose levels of the test compound for five days and then sequentially mated to two virgin untreated females each week over the period of...Stock Solutions The compound was prepared daily from stock solutions. N-phenyl-alpha-naphthylamine pellets were ground with a mortor and pestle ...five animals to a cage during the five days of dosing. After two days of rest, each male was caged with two virgin females from Monday through Friday

A review on the modelling of collection and distribution of blood donation based on vehicle routing problem

NASA Astrophysics Data System (ADS)

Azezan, Nur Arif; Ramli, Mohammad Fadzli; Masran, Hafiz

2017-11-01

In this paper, we discussed a literature on blood collection-distribution that based on vehicle routing problem. This problem emergence when the process from collection to stock up must be completed in timely manner. We also modified the mathematical model so that it will suited to general collection of blood. A discussion on its algorithm and solution methods are also pointed out briefly in this paper.

Estimation of a simple agent-based model of financial markets: An application to Australian stock and foreign exchange data

NASA Astrophysics Data System (ADS)

Alfarano, Simone; Lux, Thomas; Wagner, Friedrich

2006-10-01

Following Alfarano et al. [Estimation of agent-based models: the case of an asymmetric herding model, Comput. Econ. 26 (2005) 19-49; Excess volatility and herding in an artificial financial market: analytical approach and estimation, in: W. Franz, H. Ramser, M. Stadler (Eds.), Funktionsfähigkeit und Stabilität von Finanzmärkten, Mohr Siebeck, Tübingen, 2005, pp. 241-254], we consider a simple agent-based model of a highly stylized financial market. The model takes Kirman's ant process [A. Kirman, Epidemics of opinion and speculative bubbles in financial markets, in: M.P. Taylor (Ed.), Money and Financial Markets, Blackwell, Cambridge, 1991, pp. 354-368; A. Kirman, Ants, rationality, and recruitment, Q. J. Econ. 108 (1993) 137-156] of mimetic contagion as its starting point, but allows for asymmetry in the attractiveness of both groups. Embedding the contagion process into a standard asset-pricing framework, and identifying the abstract groups of the herding model as chartists and fundamentalist traders, a market with periodic bubbles and bursts is obtained. Taking stock of the availability of a closed-form solution for the stationary distribution of returns for this model, we can estimate its parameters via maximum likelihood. Expanding our earlier work, this paper presents pertinent estimates for the Australian dollar/US dollar exchange rate and the Australian stock market index. As it turns out, our model indicates dominance of fundamentalist behavior in both the stock and foreign exchange market.

Determination of chlorine in atmosphere by kinetic spectrophotometry.

PubMed

Meng, Jian-Xin; Wang, Xiao-Bo; Ruan, Ge-Lan; Li, Guo-Qiang; Deng, Zhao-Xia

2005-03-01

A kinetic method for determination of chlorine in air was described in the present work. The method based on fading of methyl orange (MO) containing solution in air absorption process. A determination limit of 2.64 microg L(-1) was found. With the present method, chlorine concentration could be determined in several minutes with convenient manipulation. As concentration variation of methyl orange in the absorption solution did not affect the experimental results, fabrication and preservation of the stock absorption is also convenient. The present method is promising in monitoring chlorine concentration in atmosphere.

Determination of chlorine in atmosphere by kinetic spectrophotometry

NASA Astrophysics Data System (ADS)

Meng, Jian-Xin; Wang, Xiao-Bo; Ruan, Ge-Lan; Li, Guo-Qiang; Deng, Zhao-Xia

2005-03-01

A kinetic method for determination of chlorine in air was described in the present work. The method based on fading of methyl orange (MO) containing solution in air absorption process. A determination limit of 2.64 μg L -1 was found. With the present method, chlorine concentration could be determined in several minutes with convenient manipulation. As concentration variation of methyl orange in the absorption solution did not affect the experimental results, fabrication and preservation of the stock absorption is also convenient. The present method is promising in monitoring chlorine concentration in atmosphere.

Antiscalant properties of Spergularia rubra and Parietaria officinalis aqueous solutions

NASA Astrophysics Data System (ADS)

Cheap-Charpentier, Hélène; Gelus, Dominique; Pécoul, Nathalie; Perrot, Hubert; Lédion, Jean; Horner, Olivier; Sadoun, Jonathan; Cachet, Xavier; Litaudon, Marc; Roussi, Fanny

2016-06-01

The formation of calcium carbonate in water has important implications in industry. Chemical antiscalant is usually used to control scale depositions. Plant extracts have been recently used as new green antiscalant agents, as they can be easily prepared and are environmentally friendly. In this study, stock aqueous solutions of Spergularia rubra and Parietaria officinalis, two plants used in traditional medicine to treat or prevent urolithiasis, were obtained by infusion. The antiscaling properties of these extracts towards CaCO3 formation were tested by using chronoamperometry and Fast Controlled Precipitation methods. The aqueous solution of S. rubra was further fractionated to isolate compounds of lower polarity. Their efficiency towards CaCO3 precipitation was characterized by Fast Controlled Precipitation method. The inhibiting efficiency of this fractionated solution was greater than that of the stock aqueous solution.

Pleural tissue hyaluronan produced by postmortem ventilation in rabbits.

PubMed

Wang, P M; Lai-Fook, S J

2000-01-01

We developed a method that used Alcian blue bound to hyaluronan to measure pleural hyaluronan in rabbits postmortem. Rabbits were killed, then ventilated with 21% O2--5% CO2--74% N2 for 3 h. The pleural liquid was removed by suction and 5 ml Alcian blue stock solution (0.33 mg/ml, 3.3 pH) was injected into each chest cavity. After 10 min, the Alcian blue solution was removed and the unbound Alcian blue solution (supernatant) separated by centrifugation and filtration. The supernatant transmissibility (T) was measured spectrophotometrically at 613 nm. Supernatant Alcian blue concentration (Cab) was obtained from a calibration curve of T versus dilutions of stock solution Cab. Alcian blue bound to pleural tissue hyaluronan was obtained by subtracting supernatant Cab from stock solution Cab. Pleural tissue hyaluronan was obtained from a calibration curve of hyaluronan versus Alcian blue bound to hyaluronan. Compared with control rabbits, pleural tissue hyaluronan (0.21 +/- 0.04 mg/kg) increased twofold, whereas pleural liquid volume decreased by 30% after 3 h of ventilation. Pleural effusions present 3 h postmortem without ventilation did not change pleural tissue hyaluronan from control values. Thus ventilation-induced pleural liquid shear stress, not increased filtration, was the stimulus for the increased hyaluronan produced from pleural mesothelial cells.

The effect of stocking rate on soil solution nitrate concentrations beneath a free-draining dairy production system in Ireland.

PubMed

McCarthy, J; Delaby, L; Hennessy, D; McCarthy, B; Ryan, W; Pierce, K M; Brennan, A; Horan, B

2015-06-01

Economically viable and productive farming systems are required to meet the growing worldwide need for agricultural produce while at the same time reducing environmental impact. Within grazing systems of animal production, increasing concern exists as to the effect of intensive farming on potential N losses to ground and surface waters, which demands an appraisal of N flows within complete grass-based dairy farming systems. A 3-yr (2011 to 2013) whole-farm system study was conducted on a free-draining soil type that is highly susceptible to N loss under temperate maritime conditions. Soil solution concentrations of N from 3 spring-calving, grass-based systems designed to represent 3 alternative whole-farm stocking rate (SR) treatments in a post-milk quota situation in the European Union were compared: low (2.51 cows/ha), medium (2.92 cows/ha), and high SR (3.28 cows/ha). Each SR had its own farmlet containing 18 paddocks and 23 cows. Nitrogen loss from each treatment was measured using ceramic cups installed to a depth of 1m to sample the soil water. The annual and monthly average nitrate, nitrite, ammonia, and total N concentrations in soil solution collected were analyzed for each year using a repeated measures analysis. Subsequently, and based on the biological data collated from each farm system treatment within each year, the efficiency of N use was evaluated using an N balance model. Based on similar N inputs, increasing SR resulted in increased grazing efficiency and milk production per hectare. Stocking rate had no significant effect on soil solution concentrations of nitrate, nitrite, ammonia, or total N (26.0, 0.2, 2.4, and 32.3 mg/L, respectively). An N balance model evaluation of each treatment incorporating input and output data indicated that the increased grass utilization and milk production per hectare at higher SR resulted in a reduction in N surplus and increased N use efficiency. The results highlight the possibility for the sustainable intensification of grass-based dairy systems and suggest that, at the same level of N inputs, increasing SR has little effect on N loss in pastoral systems with limited imported feed. These results suggest that greater emphasis should be attributed to increased grass production and utilization under grazing to further improve the environmental impact of grazing systems. Copyright © 2015 American Dairy Science Association. Published by Elsevier Inc. All rights reserved.

General properties of solutions to inhomogeneous Black-Scholes equations with discontinuous maturity payoffs

NASA Astrophysics Data System (ADS)

O, Hyong-Chol; Jo, Jong-Jun; Kim, Ji-Sok

2016-02-01

We provide representations of solutions to terminal value problems of inhomogeneous Black-Scholes equations and study such general properties as min-max estimates, gradient estimates, monotonicity and convexity of the solutions with respect to the stock price variable, which are important for financial security pricing. In particular, we focus on finding representation of the gradient (with respect to the stock price variable) of solutions to the terminal value problems with discontinuous terminal payoffs or inhomogeneous terms. Such terminal value problems are often encountered in pricing problems of compound-like options such as Bermudan options or defaultable bonds with discrete default barrier, default intensity and endogenous default recovery. Our results can be used in pricing real defaultable bonds under consideration of existence of discrete coupons or taxes on coupons.

Synthesis of Au/TiO2 Core-Shell Nanoparticles from Titanium Isopropoxide and Thermal Resistance Effect of TiO2 Shell

NASA Astrophysics Data System (ADS)

Kwon, Hyun-Woo; Lim, Young-Min; Tripathy, Suraj Kumar; Kim, Byoung-Gyu; Lee, Min-Sang; Yu, Yeon-Tae

2007-04-01

On the synthesis of Au/TiO2 core-shell structure nanoparticles, the effect of the concentration of Ti4+ on the morphology and optical property of Au/TiO2 core-shell nanoparticles was examined. A gold colloid was prepared by mixing HAuCl4\\cdot4H2O and C6H5Na3\\cdot2H2O. Titanium stock solution was prepared by mixing solutions of titanium(IV) isopropoxide (TTIP) and triethanolamine (TEOA). The concentration of the Ti4+ stock solution was adjusted to 0.01-0.3 mM, and then the gold colloid was added to the Ti4+ stock solution. Au/TiO2 core-shell structure nanoparticles could be prepared by the hydrolysis of the Ti4+ stock solution at 80 °C. The size of the as-prepared Au nanoparticles was 15 nm. The thickness of the TiO2 shell on the surface of gold particles was about 10 nm. The absorption peak of the Au/TiO2 core-shell nanoparticles shifted towards the red end of the spectrum by about 3 nm because of the formation of the TiO2 shell on the surface of the gold particles. The crystal structure of the TiO2 shell showed an anatase phase. The increase in the Au crystallite size of the Au/TiO2 nanoparticles with increasing heat treatment temperature is smaller than that in the pure Au nanoparticles. This may be due to the encapsulation of Au particles with the TiO2 shell that prevents the growth of the nanoparticle nucleation.

Culturing Protozoa.

ERIC Educational Resources Information Center

Stevenson, Paul

1980-01-01

Compares various nutrient media, growth conditions, and stock solutions used in culturing protozoa. A hay infusion in Chalkey's solution maintained at a stable temperature is recommended for producing the most dense and diverse cultures. (WB)

It is the economy, stupid! Projecting the fate of fish populations using ecological-economic modeling.

PubMed

Quaas, Martin F; Reusch, Thorsten B H; Schmidt, Jörn O; Tahvonen, Olli; Voss, Rudi

2016-01-01

Four marine fish species are among the most important on the world market: cod, salmon, tuna, and sea bass. While the supply of North American and European markets for two of these species - Atlantic salmon and European sea bass - mainly comes from fish farming, Atlantic cod and tunas are mainly caught from wild stocks. We address the question what will be the status of these wild stocks in the midterm future, in the year 2048, to be specific. Whereas the effects of climate change and ecological driving forces on fish stocks have already gained much attention, our prime interest is in studying the effects of changing economic drivers, as well as the impact of variable management effectiveness. Using a process-based ecological-economic multispecies optimization model, we assess the future stock status under different scenarios of change. We simulate (i) technological progress in fishing, (ii) increasing demand for fish, and (iii) increasing supply of farmed fish, as well as the interplay of these driving forces under different scenarios of (limited) fishery management effectiveness. We find that economic change has a substantial effect on fish populations. Increasing aquaculture production can dampen the fishing pressure on wild stocks, but this effect is likely to be overwhelmed by increasing demand and technological progress, both increasing fishing pressure. The only solution to avoid collapse of the majority of stocks is institutional change to improve management effectiveness significantly above the current state. We conclude that full recognition of economic drivers of change will be needed to successfully develop an integrated ecosystem management and to sustain the wild fish stocks until 2048 and beyond. © 2015 John Wiley & Sons Ltd.

Symmetry analysis of a model for the exercise of a barrier option

NASA Astrophysics Data System (ADS)

O'Hara, J. G.; Sophocleous, C.; Leach, P. G. L.

2013-09-01

A barrier option takes into account the possibility of an unacceptable change in the price of the underlying stock. Such a change could carry considerable financial loss. We examine one model based upon the Black-Scholes-Merton Equation and determine the functional forms of the barrier function and rebate function which are consistent with a solution of the underlying evolution partial differential equation using the Lie Theory of Extended Groups. The solution is consistent with the possibility of no rebate and the barrier function is very similar to one adopted on an heuristic basis.

Properties of Base Stocks Obtained from Used Engine Oils by Acid/Clay Re-refining (Proprietes des Stocks de Base Obtenus par Regeneration des Huiles a Moteur Usees par le Procede de Traitement a l’Acide et a la Terre),

DTIC Science & Technology

1980-09-01

Research Conseil national Council Canada de recherches Canada LEY EL < PROPERTIES OF BASE STOCKS OBTAINED FROM USED ENGINE OILS BY ACID /CLAY RE-REFINING DTIC...MECHANICAL ENGINEERING REPORT Canad NC MP75 NRC NO. 18719 PROPERTIES OF BASE STOCKS OBTAINED FROM USED ENGINE OILS BY ACID /CLAY RE-REFINING (PROPRIETES...refined Base Stock ..................................... 10 3 Physical Test Data of Acid /Clay Process - Re-refined Base Stock Oils ............ 11 4

The challenge to avoid anti-malarial medicine stock-outs in an era of funding partners: the case of Tanzania.

PubMed

Mikkelsen-Lopez, Inez; Shango, Winna; Barrington, Jim; Ziegler, Rene; Smith, Tom; deSavigny, Don

2014-05-11

Between 2007 and 2013, the Tanzanian public sector received 93.1 million doses of first-line anti-malarial artemisinin-based combination therapy (ACT) in the form of artemether-lumefantrine entirely supplied by funding partners. The introduction of a health facility ACT stock monitoring system using SMS technology by the National Malaria Control Programme in mid 2011 revealed a high frequency of stock-outs of ACT in primary care public health facilities. The objective of this study was to determine the pattern of availability of ACT and possible causes of observed stock-outs across public health facilities in Tanzania since mid-2011. Data were collected weekly by the mobile phone reporting tool SMS for Life on ACT availability from over 5,000 public health facilities in Tanzania starting from September 2011 to December 2012. Stock data for all four age-dose levels of ACT across health facilities were summarized and supply of ACT at the national level was also documented. Over the period of 15 months, on average 29% of health facilities in Tanzania were completely stocked out of all four-age dose levels of the first-line anti-malarial with a median duration of total stock-out of six weeks. Patterns of total stock-out by region ranged from a low of 9% to a high of 52%. The ACT stock-outs were most likely caused by: a) insufficient ACT supplies entering Tanzania (e.g. in 2012 Tanzania received 10.9 million ACT doses compared with a forecast demand of 14.4 million doses); and b) irregular pattern of ACT supply (several months with no ACT stock). The reduced ACT availability and irregular pattern of supply were due to cumbersome bureaucratic processes and delays both within the country and from the main donor, the Global Fund to Fight AIDS, Tuberculosis and Malaria. Tanzania should invest in strengthening both the supply system and the health information system using mHealth solutions such as SMS for Life. This will continue to assist in tracking ACT availability across the country where all partners work towards more streamlined, demand driven and accountable procurement and supply chain systems.

An assessment of monitoring requirements and costs of 'Reduced Emissions from Deforestation and Degradation'

PubMed Central

Böttcher, Hannes; Eisbrenner, Katja; Fritz, Steffen; Kindermann, Georg; Kraxner, Florian; McCallum, Ian; Obersteiner, Michael

2009-01-01

Background Negotiations on a future climate policy framework addressing Reduced Emissions from Deforestation and Degradation (REDD) are ongoing. Regardless of how such a framework will be designed, many technical solutions of estimating forest cover and forest carbon stock change exist to support policy in monitoring and accounting. These technologies typically combine remotely sensed data with ground-based inventories. In this article we assess the costs of monitoring REDD based on available technologies and requirements associated with key elements of REDD policy. Results We find that the design of a REDD policy framework (and specifically its rules) can have a significant impact on monitoring costs. Costs may vary from 0.5 to 550 US$ per square kilometre depending on the required precision of carbon stock and area change detection. Moreover, they follow economies of scale, i.e. single country or project solutions will face relatively higher monitoring costs. Conclusion Although monitoring costs are relatively small compared to other cost items within a REDD system, they should be shared not only among countries but also among sectors, because an integrated monitoring system would have multiple benefits for non-REDD management. Overcoming initialization costs and unequal access to monitoring technologies is crucial for implementation of an integrated monitoring system, and demands for international cooperation. PMID:19709413

Trading Network Predicts Stock Price

PubMed Central

Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

2014-01-01

Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices. PMID:24429767

Trading network predicts stock price.

PubMed

Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

2014-01-16

Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

Competition and quality in health care markets: a differential-game approach.

PubMed

Brekke, Kurt R; Cellini, Roberto; Siciliani, Luigi; Straume, Odd Rune

2010-07-01

We investigate the effect of competition on quality in health care markets with regulated prices taking a differential game approach, in which quality is a stock variable. Using a Hotelling framework, we derive the open-loop solution (health care providers set the optimal investment plan at the initial period) and the feedback closed-loop solution (providers move investments in response to the dynamics of the states). Under the closed-loop solution competition is more intense in the sense that providers observe quality in each period and base their investment on this information. If the marginal provision cost is constant, the open-loop and closed-loop solutions coincide, and the results are similar to the ones obtained by static models. If the marginal provision cost is increasing, investment and quality are lower in the closed-loop solution (when competition is more intense). In this case, static models tend to exaggerate the positive effect of competition on quality.

The rebuilding imperative in fisheries: Clumsy solutions for a wicked problem?

NASA Astrophysics Data System (ADS)

Khan, Ahmed S.; Neis, Barb

2010-10-01

There is mounting evidence that global fisheries are in crisis and about 25-30% of fish stocks are over exploited, depleted or recovering. Fish landings are increasingly coming from fully-exploited and over-exploited fisheries, and from intensive aquaculture that often relies indirectly on reduction fisheries. This poses severe challenges for marine ecosystems as well as food security and the livelihoods of resource-dependent coastal communities. Growing awareness of these social, economic and ecological consequences of overfishing is reflected in an expanding literature which shows that reducing fishing effort to allow fish stocks to recover has been the main focus of management efforts, but successful examples of stock recovery are few. An alternative, less explored social-ecological approach focuses on rebuilding entire ‘fish chains’ from oceans to plate. This paper supports this alternative approach. A review and synthesis of stock rebuilding initiatives worldwide suggests effective governance is central to rebuilding, and fisheries governance is a wicked problem. Wicked problems are complex, persistent or reoccurring and hard to fix because they are linked to broader social, economic and policy issues. This review and analysis implies that, due to socioeconomic and sociopolitical concerns, fisheries governance challenges are particularly wicked when dealing with collapsed fisheries and rebuilding efforts. The paper concludes that rebuilding might benefit from experimenting with clumsy solutions. Clumsy solutions are exploratory, include inputs from a broad range of stakeholders along the fish chain, and require information sharing, knowledge synthesis, and trust building. Moreover, clumsy solutions that address power relations, collective action dilemmas, and the fundamental question of ‘rebuilding for whom’ are essential for stewardship, equity and long-term resource sustainability.

Application of Kanban System on a hospital pharmacy.

PubMed

Mitka, Eleftheria

2015-01-01

This is a brief overview of principles, views and methods, of the Kanban System for the pharmacy of a general hospital. The main goal is the reduction of stores managed by the pharmacy, as well as improvement of the mode of operation. Solutions to problems, such as inadequate storage space, the delay in serving patients or clinics and the expiration of various pharmaceutical formulations, stored for so long time, are provided. The philosophy behind the Kanban procurement System and specifically its applicability to a pharmacy underperforming in terms of efficiency, in Greece, are described. Based on the analysis of stock requirement, item stock prices and demand, it is concluded that a significant percentage of the stocked drugs can be procured using the Kanban System. Significant cost savings and operational advantages following the Kanban System will take place. The challenging endeavor is the analysis, design and application of a system that supports the proposed procurement method. Hospital pharmacies in Greece and in other countries that face an economic crisis may largely benefit after using the Kanban System.

Generating Stock Trading Rules Using Genetic Network Programming with Flag Nodes and Adjustment of Importance Indexes

NASA Astrophysics Data System (ADS)

Mabu, Shingo; Chen, Yan; Hirasawa, Kotaro

Genetic Network Programming (GNP) is an evolutionary algorithm which represents its solutions using graph structures. Since GNP can create quite compact programs and has an implicit memory function, GNP works well especially in dynamic environments. In addition, a study on creating trading rules on stock markets using GNP with Importance Index (GNP-IMX) has been done. IMX is one of the criterions for decision making. However, the values of IMXs must be deteminined by our experience/knowledge. Therefore in this paper, IMXs are adjusted appropriately during the stock trading in order to predict the rise and fall of the stocks. Moreover, newly defined flag nodes are introduced to GNP, which can appropriately judge the current situation of the stock prices, and also contributes to the use of many kinds of nodes in GNP program. In the simulation, programs are evolved using the stock prices of 20 companies. Then the generalization ability is tested and compared with GNP without flag nodes, GNP without IMX adjustment and Buy&Hold.

Environmental Assessment for Anti-Terrorism/Force Protection Upgrades at Beale Air Force Base, California

DTIC Science & Technology

2004-04-01

triple-awn grass, annual fescues, and foxtail barley . Intermixed with these dominant grasses are an assemblage of native and non-native forb species...as a wheat- stem rust (fungal disease) biological production test site. Chemicals associated with the wheat- stem rust program included freon, carbon...Carboxide treatment (using a solution of 10 percent ethylene oxide and 90 percent carbon dioxide) was used to destroy the rust fungus stocks. Residual

77 FR 34450 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-06-11

... Ridge Clearing and Outsourcing Solutions, Inc. as an NYSE Member Organization, Subject to Apex Clearing... order to approve Apex Clearing Corporation, f/ k/a Ridge Clearing and Outsourcing Solutions, Inc... Transaction, Apex Clearing's name was Ridge Clearing & Outsourcing Solutions, Inc. Prior to the transaction...

Financial liberalization and stock market cross-correlation: MF-DCCA analysis based on Shanghai-Hong Kong Stock Connect

NASA Astrophysics Data System (ADS)

Ruan, Qingsong; Zhang, Shuhua; Lv, Dayong; Lu, Xinsheng

2018-02-01

Based on the implementation of Shanghai-Hong Kong Stock Connect in China, this paper examines the effects of financial liberalization on stock market comovement using both multifractal detrended fluctuation analysis (MF-DFA) and multifractal detrended cross-correlation analysis (MF-DCCA) methods. Results based on MF-DFA confirm the multifractality of Shanghai and Hong Kong stock markets, and the market efficiency of Shanghai stock market increased after the implementation of this connect program. Besides, analysis based on MF-DCCA has verified the existence of persistent cross-correlation between Shanghai and Hong Kong stock markets, and the cross-correlation gets stronger after the launch of this liberalization program. Finally, we find that fat-tail distribution is the main source of multifractality in the cross-correlations before the stock connect program, while long-range correlation contributes to the multifractality after this program.

Base stock system for patient vs impatient customers with varying demand distribution

NASA Astrophysics Data System (ADS)

Fathima, Dowlath; Uduman, P. Sheik

2013-09-01

An optimal Base-Stock inventory policy for Patient and Impatient Customers using finite-horizon models is examined. The Base stock system for Patient and Impatient customers is a different type of inventory policy. In case of the model I, Base stock for Patient customer case is evaluated using the Truncated Exponential Distribution. The model II involves the study of Base-stock inventory policies for Impatient customer. A study on these systems reveals that the Customers wait until the arrival of the next order or the customers leaves the system which leads to lost sale. In both the models demand during the period [0, t] is taken to be a random variable. In this paper, Truncated Exponential Distribution satisfies the Base stock policy for the patient customer as a continuous model. So far the Base stock for Impatient Customers leaded to a discrete case but, in this paper we have modeled this condition into a continuous case. We justify this approach mathematically and also numerically.

Stock-outs of essential health products in Mozambique - longitudinal analyses from 2011 to 2013.

PubMed

Wagenaar, Bradley H; Gimbel, Sarah; Hoek, Roxanne; Pfeiffer, James; Michel, Cathy; Manuel, João Luis; Cuembelo, Fatima; Quembo, Titos; Afonso, Pires; Gloyd, Stephen; Sherr, Kenneth

2014-07-01

To assess the relationship between health system factors and facility-level EHP stock-outs in Mozambique. Service provisions were assessed in 26 health facilities and 13 district warehouses in Sofala Province, Mozambique, from July to August in 2011-2013. Generalised estimating equations were used to model factors associated with facility-level availability of essential drugs, supplies and equipment. Stock-out rates for drugs ranged from 1.3% for oral rehydration solution to 20.5% for Depo-Provera and condoms, with a mean stock-out rate of 9.1%; mean stock-out rates were 15.4% for supplies and 4.1% for equipment. Stock-outs at the district level accounted for 27.1% (29/107) of facility-level drug stock-outs and 44.0% (37/84) of supply stock-outs. Each 10-km increase in the distance from district distribution warehouses was associated with a 31% (CI: 22-42%), 28% (CI: 17-40%) or 27% (CI: 7-50%) increase in rates of drug, supply or equipment stock-outs, respectively. The number of heath facility staff was consistently negatively associated with the occurrence of stock-outs. Facility-level stock-outs of EHPs in Mozambique are common and appear to disproportionately affect those living far from district capitals and near facilities with few health staff. The majority of facility-level EHP stock-outs in Mozambique occur when stock exists at the district distribution centre. Innovative methods are urgently needed to improve EHP supply chains, requesting and ordering of drugs, facility and district communication, and forecasting of future EHP needs in Mozambique. Increased investments in public-sector human resources for health could potentially decrease the occurrence of EHP stock-outs. © 2014 John Wiley & Sons Ltd.

Stock-outs of essential health products in Mozambique-longitudinal analyses from 2011 to 2013

PubMed Central

Wagenaar, Bradley H.; Gimbel, Sarah; Hoek, Roxanne; Pfeiffer, James; Michel, Cathy; Manuel, João Luis; Cuembelo, Fatima; Quembo, Titos; Afonso, Pires; Gloyd, Stephen; Sherr, Kenneth

2015-01-01

objectives To assess the relationship between health system factors and facility-level EHP stock-outs in Mozambique. methods Service provisions were assessed in 26 health facilities and 13 district warehouses in Sofala Province, Mozambique, from July to August in 2011–2013. Generalised estimating equations were used to model factors associated with facility-level availability of essential drugs, supplies and equipment. results Stock-out rates for drugs ranged from 1.3% for oral rehydration solution to 20.5% for Depo-Provera and condoms, with a mean stock-out rate of 9.1%; mean stock-out rates were 15.4% for supplies and 4.1% for equipment. Stock-outs at the district level accounted for 27.1% (29/107) of facility-level drug stock-outs and 44.0% (37/84) of supply stock-outs. Each 10-km increase in the distance from district distribution warehouses was associated with a 31% (CI: 22–42%), 28% (CI: 17–40%) or 27% (CI: 7–50%) increase in rates of drug, supply or equipment stock-outs, respectively. The number of heath facility staff was consistently negatively associated with the occurrence of stock-outs. conclusions Facility-level stock-outs of EHPs in Mozambique are common and appear to disproportionately affect those living far from district capitals and near facilities with few health staff. The majority of facility-level EHP stock-outs in Mozambique occur when stock exists at the district distribution centre. Innovative methods are urgently needed to improve EHP supply chains, requesting and ordering of drugs, facility and district communication, and forecasting of future EHP needs in Mozambique. Increased investments in public-sector human resources for health could potentially decrease the occurrence of EHP stock-outs. PMID:24724617

Volume of the steady-state space of financial flows in a monetary stock-flow-consistent model

NASA Astrophysics Data System (ADS)

Hazan, Aurélien

2017-05-01

We show that a steady-state stock-flow consistent macro-economic model can be represented as a Constraint Satisfaction Problem (CSP). The set of solutions is a polytope, which volume depends on the constraints applied and reveals the potential fragility of the economic circuit, with no need to study the dynamics. Several methods to compute the volume are compared, inspired by operations research methods and the analysis of metabolic networks, both exact and approximate. We also introduce a random transaction matrix, and study the particular case of linear flows with respect to money stocks.

The challenge to avoid anti-malarial medicine stock-outs in an era of funding partners: the case of Tanzania

PubMed Central

2014-01-01

Background Between 2007 and 2013, the Tanzanian public sector received 93.1 million doses of first-line anti-malarial artemisinin-based combination therapy (ACT) in the form of artemether-lumefantrine entirely supplied by funding partners. The introduction of a health facility ACT stock monitoring system using SMS technology by the National Malaria Control Programme in mid 2011 revealed a high frequency of stock-outs of ACT in primary care public health facilities. The objective of this study was to determine the pattern of availability of ACT and possible causes of observed stock-outs across public health facilities in Tanzania since mid-2011. Methods Data were collected weekly by the mobile phone reporting tool SMS for Life on ACT availability from over 5,000 public health facilities in Tanzania starting from September 2011 to December 2012. Stock data for all four age-dose levels of ACT across health facilities were summarized and supply of ACT at the national level was also documented. Results Over the period of 15 months, on average 29% of health facilities in Tanzania were completely stocked out of all four-age dose levels of the first-line anti-malarial with a median duration of total stock-out of six weeks. Patterns of total stock-out by region ranged from a low of 9% to a high of 52%. The ACT stock-outs were most likely caused by: a) insufficient ACT supplies entering Tanzania (e.g. in 2012 Tanzania received 10.9 million ACT doses compared with a forecast demand of 14.4 million doses); and b) irregular pattern of ACT supply (several months with no ACT stock). Conclusion The reduced ACT availability and irregular pattern of supply were due to cumbersome bureaucratic processes and delays both within the country and from the main donor, the Global Fund to Fight AIDS, Tuberculosis and Malaria. Tanzania should invest in strengthening both the supply system and the health information system using mHealth solutions such as SMS for Life. This will continue to assist in tracking ACT availability across the country where all partners work towards more streamlined, demand driven and accountable procurement and supply chain systems. PMID:24885420

9 CFR 381.169 - Ready-to-cook poultry products to which solutions are added.

Code of Federal Regulations, 2010 CFR

2010-01-01

... solutions are added. (a) Butter alone, or solutions of poultry broth, poultry stock, water, or edible fats... manner of addition to the products must be found acceptable by the Administrator, in all cases. The... in the product name must be printed with the same prominence, except that the words which describe...

Networks of Firms and the Ridge in the Production Space

NASA Astrophysics Data System (ADS)

Souma, Wataru

We develop complex networks that represent activities in the economy. The network in this study is constructed from firms and the relationships between firms, i.e., shareholding, interlocking directors, transactions, and joint applications for patents. Thus, the network is regarded as a multigraph, and it is also regarded as a weighted network. By calculating various network indices, we clarify the characteristics of the network. We also consider the dynamics of firms in the production space that are characterized by capital stock, employment, and profit. Each firm moves within this space to maximize their profit by using controlling of capital stock and employment. We show that the dynamics of rational firms can be described using a ridge equation. We analytically solve this equation by assuming the extensive Cobb-Douglas production function, and thereby obtain a solution. By comparing the distribution of firms and this solution, we find that almost all of the 1,100 firms listed on the first section of the Tokyo stock exchange and belonging to the manufacturing sector are managed efficiently.

State network approach to characteristics of financial crises

NASA Astrophysics Data System (ADS)

Qiu, Lu; Gu, Changgui; Xiao, Qin; Yang, Huijie; Wu, Guolin

2018-02-01

Extensive works have reported that a financial crisis can induce significant changes to topological structure of a stock network constructed with cross-correlations between stocks. But there are still some problems to be answered, such as what is the relationship between different crises in history and how to classify them? In the present work, we propose a new network-based solution to extract and display the relationships between the crises. The Dow Jones stock market is investigated as a typical example. The cross-correlation matrix between stocks is used to measure the state of stock market, called state matrix. All the states cluster into six sub-categories. A state network is constructed further to display the relationships between all the states, which contains a total of nine communities. It is found that three crises C , D and E (refer to the Lehman's bankruptcy in 2008, the Euro-zone and International Monetary Fund decide the first bailout for Greece in 2010, and the European sovereign debt crisis in 2011, respectively) belong to a specific sub-category and cluster in a single community. The mid-stage of C is closely linked with E, while the other stages with D. The other two crises A and B (refer to the financial crisis in Asia in 1997, and the burst of "dot-com bubble" in 2002, respectively) belong to another sub-category and gather in a corner of another single community. A and B are linked directly with C and D by two edges. By this way, we give a clear picture of the relationships between the crises.

The future of fishes and fisheries in the changing oceans.

PubMed

Cheung, W W L

2018-03-01

This paper aims to highlight the risk of climate change on coupled marine human and natural systems and explore possible solutions to reduce such risk. Specifically, it explores some of the key responses of marine fish stocks and fisheries to climate change and their implications for human society. It highlights the importance of mitigating carbon emission and achieving the Paris Agreement in reducing climate risk on marine fish stocks and fisheries. Finally, it discusses potential opportunities for helping fisheries to reduce climate threats, through local adaptation. A research direction in fish biology and ecology is proposed that would help support the development of these potential solutions. © 2018 The Fisheries Society of the British Isles.

Impact of uncertainty in expected return estimation on stock price volatility

NASA Astrophysics Data System (ADS)

Kostanjcar, Zvonko; Jeren, Branko; Juretic, Zeljan

2012-11-01

We investigate the origin of volatility in financial markets by defining an analytical model for time evolution of stock share prices. The defined model is similar to the GARCH class of models, but can additionally exhibit bimodal behaviour in the supply-demand structure of the market. Moreover, it differs from existing Ising-type models. It turns out that the constructed model is a solution of a thermodynamic limit of a Gibbs probability measure when the number of traders and the number of stock shares approaches infinity. The energy functional of the Gibbs probability measure is derived from the Nash equilibrium of the underlying game.

Lipase pre-hydrolysis enhance anaerobic biodigestion of soap stock from an oil refining industry.

PubMed

Cherif, Slim; Aloui, Fathi; Carrière, Frédéric; Sayadi, Sami

2014-01-01

A novel alcalophilic Staphylococcus haemolyticus strain with the lipolytic activity was used to perform enzymatic hydrolysis pretreatment of soap stock: a lipid rich solid waste from an oil refining industry. The culture liquid of the selected bacteria and an enzymatic preparation obtained by precipitation with ammonium sulphate from a filtrate of the same culture liquid were used for enzymatic pretreatment. The hydrolysis was carried with different incubation concentrations (10, 20 and 30%) of soap stock and the pretreatment efficiency was verified by running comparative biodegradability tests (crude and treated lipid waste). All pretreated assays showed higher reaction rate compared to crude lipid waste, which was confirmed by the increased levels of biogas production. The pretreatment of solutions containing 10% emulsified soap stock was optimized for 24 h hydrolysis time, enabling high-biogaz formation (800 ml). The use of enzymatic pre-treatment seemed to be a very promising alternative for treating soap stock having high fat contents.

A practical method to assess model sensitivity and parameter uncertainty in C cycle models

NASA Astrophysics Data System (ADS)

Delahaies, Sylvain; Roulstone, Ian; Nichols, Nancy

2015-04-01

The carbon cycle combines multiple spatial and temporal scales, from minutes to hours for the chemical processes occurring in plant cells to several hundred of years for the exchange between the atmosphere and the deep ocean and finally to millennia for the formation of fossil fuels. Together with our knowledge of the transformation processes involved in the carbon cycle, many Earth Observation systems are now available to help improving models and predictions using inverse modelling techniques. A generic inverse problem consists in finding a n-dimensional state vector x such that h(x) = y, for a given N-dimensional observation vector y, including random noise, and a given model h. The problem is well posed if the three following conditions hold: 1) there exists a solution, 2) the solution is unique and 3) the solution depends continuously on the input data. If at least one of these conditions is violated the problem is said ill-posed. The inverse problem is often ill-posed, a regularization method is required to replace the original problem with a well posed problem and then a solution strategy amounts to 1) constructing a solution x, 2) assessing the validity of the solution, 3) characterizing its uncertainty. The data assimilation linked ecosystem carbon (DALEC) model is a simple box model simulating the carbon budget allocation for terrestrial ecosystems. Intercomparison experiments have demonstrated the relative merit of various inverse modelling strategies (MCMC, ENKF) to estimate model parameters and initial carbon stocks for DALEC using eddy covariance measurements of net ecosystem exchange of CO2 and leaf area index observations. Most results agreed on the fact that parameters and initial stocks directly related to fast processes were best estimated with narrow confidence intervals, whereas those related to slow processes were poorly estimated with very large uncertainties. While other studies have tried to overcome this difficulty by adding complementary data streams or by considering longer observation windows no systematic analysis has been carried out so far to explain the large differences among results. We consider adjoint based methods to investigate inverse problems using DALEC and various data streams. Using resolution matrices we study the nature of the inverse problems (solution existence, uniqueness and stability) and show how standard regularization techniques affect resolution and stability properties. Instead of using standard prior information as a penalty term in the cost function to regularize the problems we constraint the parameter space using ecological balance conditions and inequality constraints. The efficiency and rapidity of this approach allows us to compute ensembles of solutions to the inverse problems from which we can establish the robustness of the variational method and obtain non Gaussian posterior distributions for the model parameters and initial carbon stocks.

Modeling stock return distributions with a quantum harmonic oscillator

NASA Astrophysics Data System (ADS)

Ahn, K.; Choi, M. Y.; Dai, B.; Sohn, S.; Yang, B.

2017-11-01

We propose a quantum harmonic oscillator as a model for the market force which draws a stock return from short-run fluctuations to the long-run equilibrium. The stochastic equation governing our model is transformed into a Schrödinger equation, the solution of which features “quantized” eigenfunctions. Consequently, stock returns follow a mixed χ distribution, which describes Gaussian and non-Gaussian features. Analyzing the Financial Times Stock Exchange (FTSE) All Share Index, we demonstrate that our model outperforms traditional stochastic process models, e.g., the geometric Brownian motion and the Heston model, with smaller fitting errors and better goodness-of-fit statistics. In addition, making use of analogy, we provide an economic rationale of the physics concepts such as the eigenstate, eigenenergy, and angular frequency, which sheds light on the relationship between finance and econophysics literature.

Serum Antibody Responses to Oral Microorganisms in Nonhuman Primates

DTIC Science & Technology

1991-05-01

BBL Microbiology Systems, Cockeysville, Md.) with 5% sheep blood and supplemented with 5 g/ml of hemin and 1 ,g/ml of menadione . The stock solutions...of menadione in 50 ml of 95 % ethanol, brought to 100 ml with DH2 0, filter sterilized with a 0.22 jA filter, and stored at 40 C. 20 For antigen...preparation, the organisms were grown in mycoplasma broth base (BBL) supplemented with hemin (5 ug/ml) and menadione (1 ;ig/ml) under anaerobic conditions

Development of stock correlation networks using mutual information and financial big data.

PubMed

Guo, Xue; Zhang, Hu; Tian, Tianhai

2018-01-01

Stock correlation networks use stock price data to explore the relationship between different stocks listed in the stock market. Currently this relationship is dominantly measured by the Pearson correlation coefficient. However, financial data suggest that nonlinear relationships may exist in the stock prices of different shares. To address this issue, this work uses mutual information to characterize the nonlinear relationship between stocks. Using 280 stocks traded at the Shanghai Stocks Exchange in China during the period of 2014-2016, we first compare the effectiveness of the correlation coefficient and mutual information for measuring stock relationships. Based on these two measures, we then develop two stock networks using the Minimum Spanning Tree method and study the topological properties of these networks, including degree, path length and the power-law distribution. The relationship network based on mutual information has a better distribution of the degree and larger value of the power-law distribution than those using the correlation coefficient. Numerical results show that mutual information is a more effective approach than the correlation coefficient to measure the stock relationship in a stock market that may undergo large fluctuations of stock prices.

Development of stock correlation networks using mutual information and financial big data

PubMed Central

Guo, Xue; Zhang, Hu

2018-01-01

Stock correlation networks use stock price data to explore the relationship between different stocks listed in the stock market. Currently this relationship is dominantly measured by the Pearson correlation coefficient. However, financial data suggest that nonlinear relationships may exist in the stock prices of different shares. To address this issue, this work uses mutual information to characterize the nonlinear relationship between stocks. Using 280 stocks traded at the Shanghai Stocks Exchange in China during the period of 2014-2016, we first compare the effectiveness of the correlation coefficient and mutual information for measuring stock relationships. Based on these two measures, we then develop two stock networks using the Minimum Spanning Tree method and study the topological properties of these networks, including degree, path length and the power-law distribution. The relationship network based on mutual information has a better distribution of the degree and larger value of the power-law distribution than those using the correlation coefficient. Numerical results show that mutual information is a more effective approach than the correlation coefficient to measure the stock relationship in a stock market that may undergo large fluctuations of stock prices. PMID:29668715

Can investor sentiment be used to predict the stock price? Dynamic analysis based on China stock market

NASA Astrophysics Data System (ADS)

Guo, Kun; Sun, Yi; Qian, Xin

2017-03-01

With the development of the social network, the interaction between investors in stock market became more fast and convenient. Thus, investor sentiment which can influence their investment decisions may be quickly spread and magnified through the network, and to a certain extent the stock market can be affected. This paper collected the user comments data from a popular professional social networking site of China stock market called Xueqiu, then the investor sentiment data can be obtained through semantic analysis. The dynamic analysis on relationship between investor sentiment and stock market is proposed based on Thermal Optimal Path (TOP) method. The results show that the sentiment data was not always leading over stock market price, and it can be used to predict the stock price only when the stock has high investor attention.

Analysis of stock investment selection based on CAPM using covariance and genetic algorithm approach

NASA Astrophysics Data System (ADS)

Sukono; Susanti, D.; Najmia, M.; Lesmana, E.; Napitupulu, H.; Supian, S.; Putra, A. S.

2018-03-01

Investment is one of the economic growth factors of countries, especially in Indonesia. Stocks is a form of investment, which is liquid. In determining the stock investment decisions which need to be considered by investors is to choose stocks that can generate maximum returns with a minimum risk level. Therefore, we need to know how to allocate the capital which may give the optimal benefit. This study discusses the issue of stock investment based on CAPM which is estimated using covariance and Genetic Algorithm approach. It is assumed that the stocks analyzed follow the CAPM model. To do the estimation of beta parameter on CAPM equation is done by two approach, first is to be represented by covariance approach, and second with genetic algorithm optimization. As a numerical illustration, in this paper analyzed ten stocks traded on the capital market in Indonesia. The results of the analysis show that estimation of beta parameters using covariance and genetic algorithm approach, give the same decision, that is, six underpriced stocks with buying decision, and four overpriced stocks with a sales decision. Based on the analysis, it can be concluded that the results can be used as a consideration for investors buying six under-priced stocks, and selling four overpriced stocks.

The effect of colloid osmotic pressure in human spermatozoa exposed to hypoosmotic conditions.

PubMed

Correa-Pérez, J R; Fernández-Pelegrina, R; Zarmakoupis-Zavos, P N; Zavos, P M

2003-04-01

The use of a protein source such as serum and albumin had been extensively employed as supplements of culture media for handling and culture of gametes and embryos. Protein molecules behave as colloids in solution and contribute to the osmotic pressure of fluids. The interaction of proteins in solution and spermatozoa needs to be assessed in order to determine their possible role in osmoregulation. The aim of this study was to assess possible osmoregulatory mechanisms of protein supplementation against exposure to hypoosmotic conditions by assessing the sperm's response to those environments. A stock hypoosmotic solution (HOS) was prepared by using a mixture of fructose and sodium citrate and adjusted to an osmotic pressure of 150 mOsm l-1. Another stock solution was prepared by diluting a preparation of synthetic serum supplement [SSS; 6% (v/v) total protein] with distilled water to obtain an osmotic pressure of 150 mOsm l-1 (hypoosmotic SSS or H-SSS). Three additional solutions were prepared by mixing the stock HOS and H-SSS solutions in the following proportions (v/v): (i) 75% H-SSS/25% HOS, (ii) 50% H-SSS/50% HOS and (iii) 25% H-SSS/75% HOS. Aliquots of washed spermatozoa from 18 men were diluted 1 : 10 (v/v) with each of the testing solutions and incubated for 60 min. Specimens were assessed on wet mounts for total and specific swelling patterns. Swelling patterns were classified as maximal (>50% tail length swollen) and minimal (<50% tail length swollen) swelling with or without associated sperm motility. The major finding of this study was that increasing the concentration of protein supplementation resulted in a decrease in the proportion of maximal sperm tail swelling patterns and an increase in the proportion of minimal tail swelling patterns. A proportion of spermatozoa which exhibited minimal swelling patterns were still motile in all solutions tested, and the percentage of those spermatozoa increased as the protein supplementation was also increased in the testing solutions. Incorporation of protein supplementation as described in this study delays the effect of sperm swelling in hypoosmotic conditions.

Growth, dispersal, mortality, and contribution of largemouth bass stocked into Chickamauga Lake, Tennessee

USGS Publications Warehouse

Hoffman, K.J.; Bettoli, P.W.

2005-01-01

Marked fingerling largemouth bass Micropterus salmoides (both northern M. s. salmoides and Florida subspecies M. s. floridanus and their hybrid) were stocked into Chickamauga Lake, Tennessee, to enhance angling and introgress the Florida subspecies into the local gene pool. We evaluated mass marking and stocking success by sampling the stocked fish for 1 year poststocking. More than 128,000 fingerlings (35-64 mm total length) were immersed in a solution of 500 mg/L oxytetracycline (OTC) for 6 h and stocked into four embayments in the lake in spring 2002; two additional embayments served as controls and were not stocked (these embayments contained only wild, indigenous fish). In a blind test, 97% of sagittal otoliths were correctly scored as marked or unmarked. In a subsequent test, the OTC marks were clearly visible on every otolith removed from 240 OTC-treated bass held for 30 d. Age-0 largemouth bass were sampled with DC electrofishing gear at 7-19, 44-61, and 119-139 d after stocking, and sampling was conducted along 100-m transects within 1 km of the stocking sites in each embayment. Of all recaptures in the first sample, 31% occurred more than 600 m from the nearest stocking site, indicating rapid dispersal by some fish. Survival of stocked and wild age-0 largemouth bass was similar and low (4.5-6.9%) in two embayments; in the other two embayments, stocked fish survived at lower rates (0-4.3%) than wild fish (33.7-49.9%). Mean catches of all age-0 largemouth bass in the first sample were positively related to the number of fish stocked. By October 2002, the mean catch of all age-0 largemouth bass was similar among embayments. Contribution of stocked fish declined to approximately 2% (2 of 91 fish) the following spring. Cost per fingerling increased from US$0.35 at stocking to $12.00 at 140 d poststocking. Increasing the abundance of largemouth bass was not the primary objective of this stocking effort, but stocked fish will have to survive much better if managers hope to introgress Florida largemouth bass genes into the resident population genome.

Traders' behavioral coupling and market phase transition

NASA Astrophysics Data System (ADS)

Ma, Rong; Zhang, Yin; Li, Honggang

2017-11-01

Traditional economic theory is based on the assumption that traders are completely independent and rational; however, trading behavior in the real market is often coupled by various factors. This paper discusses behavioral coupling based on the stock index in the stock market, focusing on the convergence of traders' behavior, its effect on the correlation of stock returns and market volatility. We find that the behavioral consensus in the stock market, the correlation degree of stock returns, and the market volatility all exhibit significant phase transitions with stronger coupling.

Integrated microfluidic systems for sample preparation and detection of respiratory pathogen Bordetella pertussis.

PubMed

de la Rosa, Carlos; Prakash, Ranjit; Tilley, Peter A; Fox, Julie D; Kaler, Karan V i S

2007-01-01

An integrated microfluidic system for combined manipulation, pre-concentration, and lysis of samples containing Bordetella pertussis by dielectrophoresis and electroporation has been developed and implemented. The microfluidic device was able to pre-concentrate the amount of B. pertussis cells present in 200 microl of a B. pertussis suspension stock into a 20 microl volume. The device exhibited optimal sample pre-concentration of 6.7x at a stock value of 10(3) cfu/ml and at a flow rate of 250 microl/h. Electro-disruption experiments showed that on-chip-based electroporation is an effective solution for lysis of B. pertussis cells that is easily integrated with dielectrophoresis assisted pre-concentration procedures. Pulsed voltage applied, number of pulses, and presence of potassium chloride in a B. pertussis suspension showed a reduction in B. pertussis cell viability by electroporation; and transmission electron microscopy confirmed B. pertussis cell disruption by electroporation. Genetic amplification and detection of the pre-concentrated sample employing an integrated chip-based system demonstrated a complete chip approach for pathogen detection.

Dominating clasp of the financial sector revealed by partial correlation analysis of the stock market.

PubMed

Kenett, Dror Y; Tumminello, Michele; Madi, Asaf; Gur-Gershgoren, Gitit; Mantegna, Rosario N; Ben-Jacob, Eshel

2010-12-20

What are the dominant stocks which drive the correlations present among stocks traded in a stock market? Can a correlation analysis provide an answer to this question? In the past, correlation based networks have been proposed as a tool to uncover the underlying backbone of the market. Correlation based networks represent the stocks and their relationships, which are then investigated using different network theory methodologies. Here we introduce a new concept to tackle the above question--the partial correlation network. Partial correlation is a measure of how the correlation between two variables, e.g., stock returns, is affected by a third variable. By using it we define a proxy of stock influence, which is then used to construct partial correlation networks. The empirical part of this study is performed on a specific financial system, namely the set of 300 highly capitalized stocks traded at the New York Stock Exchange, in the time period 2001-2003. By constructing the partial correlation network, unlike the case of standard correlation based networks, we find that stocks belonging to the financial sector and, in particular, to the investment services sub-sector, are the most influential stocks affecting the correlation profile of the system. Using a moving window analysis, we find that the strong influence of the financial stocks is conserved across time for the investigated trading period. Our findings shed a new light on the underlying mechanisms and driving forces controlling the correlation profile observed in a financial market.

Dermal Sensitization Potential of Niclosamide in Guinea Pigs

DTIC Science & Technology

1988-09-01

al--3 sterile water, from the same lot as for DNCB stock solution, were used to prepare the dilutions of FCA. Sodium lauryl sulfate (SLS) was obtained...test agent was non- irritating, the area was pretreated with 10% sodium lauryl sulfate in petrolatum immediately after the clipping and shaving. The SLS...control combination was prepared by adding 0.25 ml of FCA stock to 4.75 ml of propylene glycol. Topical Induction and Challenge: The sodium lauryl

77 FR 34422 - Self-Regulatory Organizations; Chicago Stock Exchange, Incorporated; Notice of Filing and...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-06-11

... Clearing and Outsourcing Solutions, Inc. (``Apex Clearing''), as a CHX Participant and TPH. The text of... as it pertains to the application approval process of a CHX Participant \\5\\ and TPH \\6\\ in order to...'').\\9\\ \\8\\ Prior to the Transaction, Apex Clearing's name was Ridge Clearing & Outsourcing Solutions...

Norelgestromin/ethinyl estradiol intravenous infusion formulation optimization, stability and compatibility testing: A case study to overcome polysorbate 80 interference in chromatographic analysis.

PubMed

Abdallah, Inas A; Hammell, Dana C; Hassan, Hazem E; Stinchcomb, Audra L

2016-06-05

Norelgestromin/ethinyl estradiol is a progestin/estrogen combination hormonal contraceptive indicated for the prevention of pregnancy in women. The very poor solubility and wettability of these drugs, along with their high potency (adsorption issues), give rise to difficulties in designing intravenous (IV) formulations to assess absolute bioavailability of products containing both drugs. The purpose of this study was to develop an IV formulation, evaluate its stability under different conditions and evaluate its compatibility with IV sets for potential use in absolute bioavailability studies in humans. Also, a selective high-performance liquid chromatography (HPLC) method for quantification of ethinyl estradiol and norelgestromin in polysorbate 80 matrix was developed and validated. Norelgestromin/ethinyl estradiol IV solution was prepared using sterile water for injection with 2.5% ethanol and 2.5% polysorbate 80 as a cosolvent/surfactant system to obtain a final drug solution of 25μg ethinyl estradiol and 252μg norelgestromin from a concentrated stock drug solution. The stabilities of the concentrated stock and IV solutions were assessed after storing them in the refrigerator (3.7±0.6°C) and at room temperature (19.5±0.5°C), respectively. Additional studies were conducted to examine the stability of the IV solution using an Alarias(®) low sorbing IV administration set with and without an inline filter. The solution was allowed to drip at 1mL/min over a 60min period. Samples were obtained at the beginning, middle and end of the 60min duration. The chemical stability was evaluated for up to 10 days. Norelgestromin and ethinyl estradiol concentration, purity, and degradant levels were determined using the HPLC method. The norelgestromin/ethinyl estradiol IV formulation met the chemical stability criteria when tested on day 1 through day 9 (216h). Norelgestromin concentrations assayed in stock and IV solutions were in the range of 90.0-98.5% and 90.9-98.8% after 9 days, respectively. As for ethinyl estradiol, the assayed concentrations were in the range of 91.8-100.9% and 92.7-100.8% for the stock and IV solutions, respectively. The administration set was found to be compatible with both drugs; the assayed concentrations were in the range of 99.2-100.3% for norelgestromin and 96.3-102.7% for ethinyl estradiol, but the inline filter showed some adsorption of ethinyl estradiol; where the assayed concentrations were in the range of 98.1-99.8% for norelgestromin and 95.9-97.4% for ethinyl estradiol. The present study provided evidence supporting the suitability of an intravenous formulation for norelgestromin/ethinyl estradiol using ethanol/polysorbate 80 as a cosolvent/surfactant system. Both IV and concentrated stock solutions when stored at room temperature and refrigeration, respectively, were found to be chemically stable up to 9 days. These results indicated that this formulation is chemically stable and can be used over the time period tested. This IV formulation can be used to evaluate the absolute bioavailability of products containing norelgestromin and ethinyl estradiol provided that microbial testing of the IV formulation is performed. Copyright © 2016. Published by Elsevier B.V.

Estimating Soil Organic Carbon stocks and uncertainties at the regional scale following a legacy sampling strategy - a case study from southern Belgium

NASA Astrophysics Data System (ADS)

Chartin, Caroline; Krüger, Inken; Goidts, Esther; Carnol, Monique; van Wesemael, Bas

2017-04-01

The quantification and the spatialisation of reliable SOC stocks (Mg C ha-1) and total stock (Tg C) baselines and associated uncertainties are fundamental to detect the gains or losses in SOC, and to locate sensitive areas with low SOC levels. Here, we aim to both quantify and spatialize SOC stocks at regional scale (southern Belgium) based on data from one non-design-based nor model-based sampling scheme. To this end, we developed a computation procedure based on Digital Soil Mapping techniques and stochastic simulations (Monte-Carlo) allowing the estimation of multiple (here, 10,000) independent spatialized datasets. The computation of the prediction uncertainty accounts for the errors associated to the both estimations of i) SOC stock at the pixel-related area scale and ii) parameters of the spatial model. Based on these 10,000 individuals, median SOC stocks and 90% prediction intervals were computed for each pixel, as well as total SOC stocks and their 90% prediction intervals for selected sub-areas and for the entire study area. Hence, a Generalised Additive Model (GAM) explaining 69.3 % of the SOC stock variance was calibrated and then validated (R2 = 0.64). The model overestimated low SOC stock (below 50 Mg C ha-1) and underestimated high SOC stock (especially those above 100 Mg C kg-1). A positive gradient of SOC stock occurred from the northwest to the center of Wallonia with a slight decrease on the southernmost part, correlating to the evolution of precipitation and temperature (along with elevation) and dominant land use. At the catchment scale higher SOC stocks were predicted on valley bottoms, especially for poorly drained soils under grassland. Mean predicted SOC stocks for cropland and grassland in Wallonia were of 26.58 Tg C (SD 1.52) and 43.30 Tg C (2.93), respectively. The procedure developed here allowed to predict realistic spatial patterns of SOC stocks all over agricultural lands of southern Belgium and to produce reliable statistics of total SOC stocks for each of the 20 combinations of land use / agricultural regions of Wallonia. This procedure appears useful to produce soil maps as policy tools in conducting sustainable management at regional and national scales, and to compute statistics which comply with specific requirements of reporting activities.

From Models to Measurements: Comparing Downed Dead Wood Carbon Stock Estimates in the U.S. Forest Inventory

PubMed Central

Domke, Grant M.; Woodall, Christopher W.; Walters, Brian F.; Smith, James E.

2013-01-01

The inventory and monitoring of coarse woody debris (CWD) carbon (C) stocks is an essential component of any comprehensive National Greenhouse Gas Inventory (NGHGI). Due to the expense and difficulty associated with conducting field inventories of CWD pools, CWD C stocks are often modeled as a function of more commonly measured stand attributes such as live tree C density. In order to assess potential benefits of adopting a field-based inventory of CWD C stocks in lieu of the current model-based approach, a national inventory of downed dead wood C across the U.S. was compared to estimates calculated from models associated with the U.S.’s NGHGI and used in the USDA Forest Service, Forest Inventory and Analysis program. The model-based population estimate of C stocks for CWD (i.e., pieces and slash piles) in the conterminous U.S. was 9 percent (145.1 Tg) greater than the field-based estimate. The relatively small absolute difference was driven by contrasting results for each CWD component. The model-based population estimate of C stocks from CWD pieces was 17 percent (230.3 Tg) greater than the field-based estimate, while the model-based estimate of C stocks from CWD slash piles was 27 percent (85.2 Tg) smaller than the field-based estimate. In general, models overestimated the C density per-unit-area from slash piles early in stand development and underestimated the C density from CWD pieces in young stands. This resulted in significant differences in CWD C stocks by region and ownership. The disparity in estimates across spatial scales illustrates the complexity in estimating CWD C in a NGHGI. Based on the results of this study, it is suggested that the U.S. adopt field-based estimates of CWD C stocks as a component of its NGHGI to both reduce the uncertainty within the inventory and improve the sensitivity to potential management and climate change events. PMID:23544112

From models to measurements: comparing downed dead wood carbon stock estimates in the U.S. forest inventory.

PubMed

Domke, Grant M; Woodall, Christopher W; Walters, Brian F; Smith, James E

2013-01-01

The inventory and monitoring of coarse woody debris (CWD) carbon (C) stocks is an essential component of any comprehensive National Greenhouse Gas Inventory (NGHGI). Due to the expense and difficulty associated with conducting field inventories of CWD pools, CWD C stocks are often modeled as a function of more commonly measured stand attributes such as live tree C density. In order to assess potential benefits of adopting a field-based inventory of CWD C stocks in lieu of the current model-based approach, a national inventory of downed dead wood C across the U.S. was compared to estimates calculated from models associated with the U.S.'s NGHGI and used in the USDA Forest Service, Forest Inventory and Analysis program. The model-based population estimate of C stocks for CWD (i.e., pieces and slash piles) in the conterminous U.S. was 9 percent (145.1 Tg) greater than the field-based estimate. The relatively small absolute difference was driven by contrasting results for each CWD component. The model-based population estimate of C stocks from CWD pieces was 17 percent (230.3 Tg) greater than the field-based estimate, while the model-based estimate of C stocks from CWD slash piles was 27 percent (85.2 Tg) smaller than the field-based estimate. In general, models overestimated the C density per-unit-area from slash piles early in stand development and underestimated the C density from CWD pieces in young stands. This resulted in significant differences in CWD C stocks by region and ownership. The disparity in estimates across spatial scales illustrates the complexity in estimating CWD C in a NGHGI. Based on the results of this study, it is suggested that the U.S. adopt field-based estimates of CWD C stocks as a component of its NGHGI to both reduce the uncertainty within the inventory and improve the sensitivity to potential management and climate change events.

Topological Characteristics of the Hong Kong Stock Market: A Test-based P-threshold Approach to Understanding Network Complexity

NASA Astrophysics Data System (ADS)

Xu, Ronghua; Wong, Wing-Keung; Chen, Guanrong; Huang, Shuo

2017-02-01

In this paper, we analyze the relationship among stock networks by focusing on the statistically reliable connectivity between financial time series, which accurately reflects the underlying pure stock structure. To do so, we firstly filter out the effect of market index on the correlations between paired stocks, and then take a t-test based P-threshold approach to lessening the complexity of the stock network based on the P values. We demonstrate the superiority of its performance in understanding network complexity by examining the Hong Kong stock market. By comparing with other filtering methods, we find that the P-threshold approach extracts purely and significantly correlated stock pairs, which reflect the well-defined hierarchical structure of the market. In analyzing the dynamic stock networks with fixed-size moving windows, our results show that three global financial crises, covered by the long-range time series, can be distinguishingly indicated from the network topological and evolutionary perspectives. In addition, we find that the assortativity coefficient can manifest the financial crises and therefore can serve as a good indicator of the financial market development.

Effects of cooking temperatures on the physicochemical properties and consumer acceptance of chicken stock.

PubMed

Krasnow, Mark; Bunch, Tucker; Shoemaker, Charles; Loss, Christopher R

2012-01-01

As a base for sauces, soups, and cooking liquids for meats, grains, and vegetables, stocks can be integral to the overall quality of restaurant menu items, however, science-based studies on the effects of cooking methods on the physiochemical and sensory properties of stock are lacking. The effects of starting (22 °C, 85 °C, and 99 °C) and cooking temperatures (85 °C and 99 °C) of chicken stock on clarity, color, viscosity, protein content, amino acid content, mineral content, and overall liking were measured. Protein content and viscosity were significantly higher for stocks cooked at 99 °C, but no effect on amino acid content, color, or clarity was observed. Calcium concentration in stocks cooked at 99 °C was significantly (P < 0.0001) lower (9.3 and 10.1 mg/mL, for stocks started at temperatures of 22 and 99 °C, respectively) than stock cooked at 85 °C (16.6 and 17.5 mg/mL for stocks started at temperatures of 22 and 85 °C, respectively). Stocks prepared at 99 °C scored higher on overall liking compared to commercial samples and those cooked at 85 °C (P= 0.0101). These data can be used by culinary scientists and professionals to develop more efficient techniques in the kitchen, and by product developers to optimize the overall quality and acceptance of stock. This work documents the effects of preparation method on the physical and chemical properties, and consumer acceptance of chicken stock. This information can be used by product developers, culinary scientists, and professional chefs to optimize stock-based products. Culinary educators can use this information to provide students with objective evidence-based rationale for the techniques underlying a celebrated culinary tradition. This is also an example of how research can facilitate collaboration between culinary and food science professionals. © 2011 Institute of Food Technologists®

Development study of compositions for advanced wrought nickel-base superalloys

NASA Technical Reports Server (NTRS)

Kent, W. B.

1972-01-01

Using NASA IIb as a base composition, the effects of five key elements (carbon, tungsten, tantalum, aluminum, and hafnium) on resultant properties were investigated in an effort to optimize the composition and derive new wrought high temperature alloys with improved strength characteristics. A total of nineteen compositions were melted, extruded, and rolled to bar stock using thermomechanical processing. Both full and partial solution heat treatments were developed for the compositions. Tensile properties from room temperature to 1800 deg F, stress and creep rupture properties to 1800 deg F, and thermal stability characteristics were evaluated. NASA IIb-7 exhibited the best response to the partial solution heat treatment for optimum properties up to 1200 deg F. The alloy contained 0.13C, 9.0 Cr, 9.0 Co, 2.0 Mo, 7.5 W, 10.0 Ta, 3.5 Al, 0.75 Ti, 0.02 B, 0.10 Zr, 0.50 V, 1.0 Hf, and balance nickel.

High-Order Residual-Distribution Schemes for Discontinuous Problems on Irregular Triangular Grids

NASA Technical Reports Server (NTRS)

Mazaheri, Alireza; Nishikawa, Hiroaki

2016-01-01

In this paper, we develop second- and third-order non-oscillatory shock-capturing hyperbolic residual distribution schemes for irregular triangular grids, extending our second- and third-order schemes to discontinuous problems. We present extended first-order N- and Rusanov-scheme formulations for hyperbolic advection-diffusion system, and demonstrate that the hyperbolic diffusion term does not affect the solution of inviscid problems for vanishingly small viscous coefficient. We then propose second- and third-order blended hyperbolic residual-distribution schemes with the extended first-order Rusanov-scheme. We show that these proposed schemes are extremely accurate in predicting non-oscillatory solutions for discontinuous problems. We also propose a characteristics-based nonlinear wave sensor for accurately detecting shocks, compression, and expansion regions. Using this proposed sensor, we demonstrate that the developed hyperbolic blended schemes do not produce entropy-violating solutions (unphysical stocks). We then verify the design order of accuracy of these blended schemes on irregular triangular grids.

Synthesis and Microstructure of Highly Oriented PbTiO3 Thin Films Prepared by a Sol-Gel Method

DTIC Science & Technology

1989-06-01

lead acetate with titanium isopropoxide * in 2-methoxyethanol,* in a method similar to that reported by Gurkovitch and Blum." The resulting yellow-gold...orientation by a sol-gel processing method. EXPERIMENTAL Precursor Solution Preparation Stock solutions of complex Pb-Ti alkoxide were prepared by reacting... solution had an equivalent PbTiO 3 concentration of approximately 66 wt%. The alkoxide solutions were handled as moisture-sensitive reagents and, as

Implementation and evaluation of a web based system for pharmacy stock management in rural Haiti.

PubMed

Berger, Elisabeth J; Jazayeri, Darius; Sauveur, Marcel; Manasse, Jean Joel; Plancher, Inel; Fiefe, Marquise; Laurat, Guerline; Joseph, Samahel; Kempton, Kathryn; Fraser, Hamish S F

2007-10-11

Managing the stock and supply of medication is essential for the provision of health care, especially in resource poor areas of the world. We have developed an innovative, web-based stock management system to support nine clinics in rural Haiti. Building on our experience with a web-based EMR system for our HIV patients, we developed a comprehensive stock tracking system that is modeled on the appearance of standardized WHO stock cards. The system allows pharmacy staff at all clinics to enter stock levels and also to request drugs and track shipments. Use of the system over the last 2 years has increased rapidly and we now track 450 products supporting care for 1.78 million patient visits annually. Over the last year drug stockouts have fallen from 2.6% to 1.1% and 97% of stock requests delivered were shipped within 1 day. We are now setting up this system in our clinics in rural Rwanda.

Novel acyloxy derivatives of branched mono- and polyol esters of sal fat: multiviscosity grade lubricant base stocks.

PubMed

Kamalakar, Kotte; Sai Manoj, Gorantla N V T; Prasad, Rachapudi B N; Karuna, Mallampalli S L

2014-12-10

Sal fat, a nontraditional seed oil, was chemically modified to obtain base stocks with a wide range of specifications that can replace mineral oil base stocks. Sal fatty acids were enriched to 72.6% unsaturation using urea adduct method and reacted with branched mono alcohol, 2-ethylhexanol (2-EtH), and polyols namely neopentyl glycol (NPG) and trimethylolpropane (TMP) to obtain corresponding esters. The esters were hydroxylated and then acylated using propionic, butyric, and hexanoic anhydrides to obtain corresponding acylated derivatives. The acylated TMP esters exhibited very high viscosities (427.35-471.93 cSt at 40 °C) similar to those of BS 150 mineral oil base stock range, ISO VG 460, while the acylated NPG esters (268.81-318.84 cSt at 40 °C) and 2-EtH esters viscosities (20.94-24.44 cSt at 40 °C) exhibited viscosities in the range of ISO VG 320 and 22 respectively with good viscosity indices. Acylated NPG esters were found suitable for high temperature and acylated 2-ethylhexyl esters for low viscosity grade industrial applications. It was observed that the thermo-oxidative stabilities of all acylated products were found better compared to other vegetable oil based base stocks. Overall, all the sal fat based lubricant base stocks are promising candidates with a wide range of properties, which can replace most of the mineral oil base stocks with appropriate formulations.

Optimising the Encapsulation of an Aqueous Bitter Melon Extract by Spray-Drying

PubMed Central

Tan, Sing Pei; Kha, Tuyen Chan; Parks, Sophie; Stathopoulos, Costas; Roach, Paul D.

2015-01-01

Our aim was to optimise the encapsulation of an aqueous bitter melon extract by spray-drying with maltodextrin (MD) and gum Arabic (GA). The response surface methodology models accurately predicted the process yield and retentions of bioactive concentrations and activity (R2 > 0.87). The optimal formulation was predicted and validated as 35% (w/w) stock solution (MD:GA, 1:1) and a ratio of 1.5:1 g/g of the extract to the stock solution. The spray-dried powder had a high process yield (66.2% ± 9.4%) and high retention (>79.5% ± 8.4%) and the quality of the powder was high. Therefore, the bitter melon extract was well encapsulated into a powder using MD/GA and spray-drying. PMID:28231214

The true invariant of an arbitrage free portfolio

NASA Astrophysics Data System (ADS)

Schmidt, Anatoly B.

2003-03-01

It is shown that the arbitrage free portfolio paradigm being applied to a portfolio with an arbitrary number of shares N allows for the extended solution in which the option price F depends on N. However the resulting stock hedging expense Q= MF (where M is the number of options in the portfolio) does not depend on whether N is treated as an independent variable or as a parameter. Therefore the stock hedging expense is the true invariant of the arbitrage free portfolio paradigm.

The Optimal Capital Stock and Consumption Evolution for Non Zero Consumers Growth Rate in the Framework of Ramsey Model on Finite Horizon

NASA Astrophysics Data System (ADS)

Bonchiş, N.; Balint, Şt.

2010-09-01

In this paper the Ramsey optimal growth of the capital stock and consumption on finite horizon is analyzed when the growth rate of consumers is strictly positive. The main purpose is to establish the dependence of the optimal capital stock and consumption evolution on the growth rate of consumers. The analysis reveals: for any initial value k0≥0 there exists a unique optimal evolution path of length N+1 for the capital stock; if k0 is strictly positive then all the elements of the optimal capital stock evolution path are strictly positives except the last one which is zero; the optimal capital stock evolution of length N+1 starting from k0≥0 satisfies the Euler equation; the value function VN is strictly increasing, strictly concave and continuous on R+. The family of functions {VN-T}T = 0…N-1 satisfies the Bellman equation and it is the unique solution of this equation which is both continuous and satisfies the transversality condition. The Mangasarian Lemma is also satisfied. For N tending to infinity the optimal evolution path of length N of the capital stock tends to those on the infinite time horizon. For any k0>0 the value function in k0 decreases when the consumers growth rate increases.

Range-based volatility, expected stock returns, and the low volatility anomaly

PubMed Central

2017-01-01

One of the foundations of financial economics is the idea that rational investors will discount stocks with more risk (volatility), which will result in a positive relation between risk and future returns. However, the empirical evidence is mixed when determining how volatility is related to future returns. In this paper, we examine this relation using a range-based measure of volatility, which is shown to be theoretically, numerically, and empirically superior to other measures of volatility. In a variety of tests, we find that range-based volatility is negatively associated with expected stock returns. These results are robust to time-series multifactor models as well as cross-sectional tests. Our findings contribute to the debate about the direction of the relationship between risk and return and confirm the presence of the low volatility anomaly, or the anomalous finding that low volatility stocks outperform high volatility stocks. In other tests, we find that the lower returns associated with range-based volatility are driven by stocks with lottery-like characteristics. PMID:29190652

Range-based volatility, expected stock returns, and the low volatility anomaly.

PubMed

Blau, Benjamin M; Whitby, Ryan J

2017-01-01

One of the foundations of financial economics is the idea that rational investors will discount stocks with more risk (volatility), which will result in a positive relation between risk and future returns. However, the empirical evidence is mixed when determining how volatility is related to future returns. In this paper, we examine this relation using a range-based measure of volatility, which is shown to be theoretically, numerically, and empirically superior to other measures of volatility. In a variety of tests, we find that range-based volatility is negatively associated with expected stock returns. These results are robust to time-series multifactor models as well as cross-sectional tests. Our findings contribute to the debate about the direction of the relationship between risk and return and confirm the presence of the low volatility anomaly, or the anomalous finding that low volatility stocks outperform high volatility stocks. In other tests, we find that the lower returns associated with range-based volatility are driven by stocks with lottery-like characteristics.

Black-Litterman model on non-normal stock return (Case study four banks at LQ-45 stock index)

NASA Astrophysics Data System (ADS)

Mahrivandi, Rizki; Noviyanti, Lienda; Setyanto, Gatot Riwi

2017-03-01

The formation of the optimal portfolio is a method that can help investors to minimize risks and optimize profitability. One model for the optimal portfolio is a Black-Litterman (BL) model. BL model can incorporate an element of historical data and the views of investors to form a new prediction about the return of the portfolio as a basis for preparing the asset weighting models. BL model has two fundamental problems, the assumption of normality and estimation parameters on the market Bayesian prior framework that does not from a normal distribution. This study provides an alternative solution where the modelling of the BL model stock returns and investor views from non-normal distribution.

Based on BP Neural Network Stock Prediction

ERIC Educational Resources Information Center

Liu, Xiangwei; Ma, Xin

2012-01-01

The stock market has a high profit and high risk features, on the stock market analysis and prediction research has been paid attention to by people. Stock price trend is a complex nonlinear function, so the price has certain predictability. This article mainly with improved BP neural network (BPNN) to set up the stock market prediction model, and…

Rule Based System for Medicine Inventory Control Using Radio Frequency Identification (RFID)

NASA Astrophysics Data System (ADS)

Nugraha, Joanna Ardhyanti Mita; Suryono; Suseno, dan Jatmiko Endro

2018-02-01

Rule based system is very efficient to ensure stock of drug to remain available by utilizing Radio Frequency Identification (RFID) as input means automatically. This method can ensure the stock of drugs to remain available by analyzing the needs of drug users. The research data was the amount of drug usage in hospital for 1 year. The data was processed by using ABC classification to determine the drug with fast, medium and slow movement. In each classification result, rule based algorithm was given for determination of safety stock and Reorder Point (ROP). This research yielded safety stock and ROP values that vary depending on the class of each drug. Validation is done by comparing the calculation of safety stock and reorder point both manually and by system, then, it was found that the mean deviation value at safety stock was 0,03 and and ROP was 0,08.

Multifractal in Volatility of Family Business Stocks Listed on Casablanca STOCK Exchange

NASA Astrophysics Data System (ADS)

Lahmiri, Salim

In this paper, we check for existence of multifractal in volatility of Moroccan family business stock returns and in volatility of Casablanca market index returns based on multifractal detrended fluctuation analysis (MF-DFA) technique. Empirical results show strong evidence of multifractal characteristics in volatility series of both family business stocks and market index. In addition, it is found that small variations in volatility of family business stocks are persistent, whilst small variations in volatility of market index are anti-persistent. However, large variations in family business volatility and market index volatility are both anti-persistent. Furthermore, multifractal spectral analysis based results show strong evidence that volatility in Moroccan family business companies exhibits more multifractality than volatility in the main stock market. These results may provide insightful information for risk managers concerned with family business stocks.

Determining the efficacy of microsatellite DNA-based mixed-stock analysis of Lake Michigan’s lake whitefish commercial fishery

USGS Publications Warehouse

VanDeHey, Justin A.; Sloss, Brian L.; Peeters, Paul J.; Sutton, Trent M.

2009-01-01

Management of commercially exploited fish should be conducted at the stock level. If a mixed stock fishery exists, a comprehensive mixed stock analysis is required for stock-based management. The lake whitefish Coregonus clupeaformis comprises the primary commercial fishery across the Great Lakes. Recent research resolved that six genetic stocks of lake whitefish were present in Lake Michigan, and long-term tagging data indicate that Lake Michigan's lake whitefish commercial fishery is a mixed stock fishery. The objective of this research was to determine the usefulness of microsatellite data for conducting comprehensive mixed stock analyses of the Lake Michigan lake whitefish commercial fishery. We used the individual assignment method as implemented in the program ONCOR to determine the accuracy level at which microsatellite data can reliably identify component populations or stocks. Self-assignment of lake whitefish to their population and stock of origin ranged from > 96% to 100%. Evaluation of genetic stock discreteness indicated a moderately high degree of correct assignment (average = 75%); simulations indicated supplementing baseline data by ∼ 50 to 100 individuals could increase accuracy by up to 4.5%. Simulated mixed stock commercial harvests with known stock composition showed a high degree of correct proportional assignment between observed and predicted harvest values. These data suggest that a comprehensive mixed stock analysis of Lake Michigan's lake whitefish commercial fishery is viable and would provide valuable information for improving management.

Topological Characteristics of the Hong Kong Stock Market: A Test-based P-threshold Approach to Understanding Network Complexity

PubMed Central

Xu, Ronghua; Wong, Wing-Keung; Chen, Guanrong; Huang, Shuo

2017-01-01

In this paper, we analyze the relationship among stock networks by focusing on the statistically reliable connectivity between financial time series, which accurately reflects the underlying pure stock structure. To do so, we firstly filter out the effect of market index on the correlations between paired stocks, and then take a t-test based P-threshold approach to lessening the complexity of the stock network based on the P values. We demonstrate the superiority of its performance in understanding network complexity by examining the Hong Kong stock market. By comparing with other filtering methods, we find that the P-threshold approach extracts purely and significantly correlated stock pairs, which reflect the well-defined hierarchical structure of the market. In analyzing the dynamic stock networks with fixed-size moving windows, our results show that three global financial crises, covered by the long-range time series, can be distinguishingly indicated from the network topological and evolutionary perspectives. In addition, we find that the assortativity coefficient can manifest the financial crises and therefore can serve as a good indicator of the financial market development. PMID:28145494

Automated one-step DNA sequencing based on nanoliter reaction volumes and capillary electrophoresis.

PubMed

Pang, H M; Yeung, E S

2000-08-01

An integrated system with a nano-reactor for cycle-sequencing reaction coupled to on-line purification and capillary gel electrophoresis has been demonstrated. Fifty nanoliters of reagent solution, which includes dye-labeled terminators, polymerase, BSA and template, was aspirated and mixed with the template inside the nano-reactor followed by cycle-sequencing reaction. The reaction products were then purified by a size-exclusion chromatographic column operated at 50 degrees C followed by room temperature on-line injection of the DNA fragments into a capillary for gel electrophoresis. Over 450 bases of DNA can be separated and identified. As little as 25 nl reagent solution can be used for the cycle-sequencing reaction with a slightly shorter read length. Significant savings on reagent cost is achieved because the remaining stock solution can be reused without contamination. The steps of cycle sequencing, on-line purification, injection, DNA separation, capillary regeneration, gel-filling and fluidic manipulation were performed with complete automation. This system can be readily multiplexed for high-throughput DNA sequencing or PCR analysis directly from templates or even biological materials.

Organization and ELISA-Based Results of the First Proficiency Testing to Evaluate the Ability of European Union Laboratories to Detect Staphylococcal Enterotoxin Type B (SEB) in Buffer and Milk

PubMed Central

Nia, Yacine; Rodriguez, Mélanie; Zeleny, Reinhard; Herbin, Sabine; Auvray, Frédéric; Fiebig, Uwe; Avondet, Marc-André; Munoz, Amalia; Hennekinne, Jacques-Antoine

2016-01-01

The aim of this work was to organize the first proficiency test (PT) dedicated to staphylococcal enterotoxin B (SEB) detection in milk and buffer solutions. This paper describes the organization of the PT trial according to EN ISO 17043 requirements. Characterization of the SEB stock solution was performed using SDS-PAGE and SE-specific ELISA, and amino acid analysis was used to assign its protein concentration. The solution was then used to prepare six PT materials (four milk and two buffer batches) at a ng/g toxin level, which included one blank and one SEA-containing milk as specificity control. Suitable material homogeneity and stability were assessed using screening and quantitative ELISAs. Among the methods used by the participants, ELISA-based methods demonstrated their efficiency for the detection of SEB in both simple and complex matrices. The results serve as a basis for further improving the detection capabilities in expert laboratories and can therefore be considered as a contribution to biopreparedness. PMID:27649244

Exploring Market State and Stock Interactions on the Minute Timescale

PubMed Central

Tan, Lei; Chen, Jun-Jie; Zheng, Bo; Ouyang, Fang-Yan

2016-01-01

A stock market is a non-stationary complex system. The stock interactions are important for understanding the state of the market. However, our knowledge on the stock interactions on the minute timescale is limited. Here we apply the random matrix theory and methods in complex networks to study the stock interactions and sector interactions. Further, we construct a new kind of cross-correlation matrix to investigate the correlation between the stock interactions at different minutes within one trading day. Based on 50 million minute-to-minute price data in the Shanghai stock market, we discover that the market states in the morning and afternoon are significantly different. The differences mainly exist in three aspects, i.e. the co-movement of stock prices, interactions of sectors and correlation between the stock interactions at different minutes. In the afternoon, the component stocks of sectors are more robust and the structure of sectors is firmer. Therefore, the market state in the afternoon is more stable. Furthermore, we reveal that the information of the sector interactions can indicate the financial crisis in the market, and the indicator based on the empirical data in the afternoon is more effective. PMID:26900948

Exploring Market State and Stock Interactions on the Minute Timescale.

PubMed

Tan, Lei; Chen, Jun-Jie; Zheng, Bo; Ouyang, Fang-Yan

2016-01-01

A stock market is a non-stationary complex system. The stock interactions are important for understanding the state of the market. However, our knowledge on the stock interactions on the minute timescale is limited. Here we apply the random matrix theory and methods in complex networks to study the stock interactions and sector interactions. Further, we construct a new kind of cross-correlation matrix to investigate the correlation between the stock interactions at different minutes within one trading day. Based on 50 million minute-to-minute price data in the Shanghai stock market, we discover that the market states in the morning and afternoon are significantly different. The differences mainly exist in three aspects, i.e. the co-movement of stock prices, interactions of sectors and correlation between the stock interactions at different minutes. In the afternoon, the component stocks of sectors are more robust and the structure of sectors is firmer. Therefore, the market state in the afternoon is more stable. Furthermore, we reveal that the information of the sector interactions can indicate the financial crisis in the market, and the indicator based on the empirical data in the afternoon is more effective.

Multiscale sample entropy and cross-sample entropy based on symbolic representation and similarity of stock markets

NASA Astrophysics Data System (ADS)

Wu, Yue; Shang, Pengjian; Li, Yilong

2018-03-01

A modified multiscale sample entropy measure based on symbolic representation and similarity (MSEBSS) is proposed in this paper to research the complexity of stock markets. The modified algorithm reduces the probability of inducing undefined entropies and is confirmed to be robust to strong noise. Considering the validity and accuracy, MSEBSS is more reliable than Multiscale entropy (MSE) for time series mingled with much noise like financial time series. We apply MSEBSS to financial markets and results show American stock markets have the lowest complexity compared with European and Asian markets. There are exceptions to the regularity that stock markets show a decreasing complexity over the time scale, indicating a periodicity at certain scales. Based on MSEBSS, we introduce the modified multiscale cross-sample entropy measure based on symbolic representation and similarity (MCSEBSS) to consider the degree of the asynchrony between distinct time series. Stock markets from the same area have higher synchrony than those from different areas. And for stock markets having relative high synchrony, the entropy values will decrease with the increasing scale factor. While for stock markets having high asynchrony, the entropy values will not decrease with the increasing scale factor sometimes they tend to increase. So both MSEBSS and MCSEBSS are able to distinguish stock markets of different areas, and they are more helpful if used together for studying other features of financial time series.

The cross-correlation analysis of multi property of stock markets based on MM-DFA

NASA Astrophysics Data System (ADS)

Yang, Yujun; Li, Jianping; Yang, Yimei

2017-09-01

In this paper, we propose a new method called DH-MXA based on distribution histograms of Hurst surface and multiscale multifractal detrended fluctuation analysis. The method allows us to investigate the cross-correlation characteristics among multiple properties of different stock time series. It may provide a new way of measuring the nonlinearity of several signals. It also can provide a more stable and faithful description of cross-correlation of multiple properties of stocks. The DH-MXA helps us to present much richer information than multifractal detrented cross-correlation analysis and allows us to assess many universal and subtle cross-correlation characteristics of stock markets. We show DH-MXA by selecting four artificial data sets and five properties of four stock time series from different countries. The results show that our proposed method can be adapted to investigate the cross-correlation of stock markets. In general, the American stock markets are more mature and less volatile than the Chinese stock markets.

Which stocks are profitable? A network method to investigate the effects of network structure on stock returns

NASA Astrophysics Data System (ADS)

Chen, Kun; Luo, Peng; Sun, Bianxia; Wang, Huaiqing

2015-10-01

According to asset pricing theory, a stock's expected returns are determined by its exposure to systematic risk. In this paper, we propose a new method for analyzing the interaction effects among industries and stocks on stock returns. We construct a complex network based on correlations of abnormal stock returns and use centrality and modularity, two popular measures in social science, to determine the effect of interconnections on industry and stock returns. Supported by previous studies, our findings indicate that a relationship exists between inter-industry closeness and industry returns and between stock centrality and stock returns. The theoretical and practical contributions of these findings are discussed.

Research on energy stock market associated network structure based on financial indicators

NASA Astrophysics Data System (ADS)

Xi, Xian; An, Haizhong

2018-01-01

A financial market is a complex system consisting of many interacting units. In general, due to the various types of information exchange within the industry, there is a relationship between the stocks that can reveal their clear structural characteristics. Complex network methods are powerful tools for studying the internal structure and function of the stock market, which allows us to better understand the stock market. Applying complex network methodology, a stock associated network model based on financial indicators is created. Accordingly, we set threshold value and use modularity to detect the community network, and we analyze the network structure and community cluster characteristics of different threshold situations. The study finds that the threshold value of 0.7 is the abrupt change point of the network. At the same time, as the threshold value increases, the independence of the community strengthens. This study provides a method of researching stock market based on the financial indicators, exploring the structural similarity of financial indicators of stocks. Also, it provides guidance for investment and corporate financial management.

Using an experimental manipulation to determine the effectiveness of a stock enhancement program

USGS Publications Warehouse

Stewart, David R.; Long, James M.

2015-01-01

We used an experimental manipulation to determine the impact of stocking 178 mm channel catfish Ictalurus punctatus in six impoundments. The study design consisted of equal numbers (two) of control, ceased-stock, and stocked treatments that were sampled one year before and two years after stocking. Relative abundance, growth, size structure, and average weight significantly changed over time based on samples collected with hoop nets. Catch rates decreased at both ceased-stock lakes and increased for one stocked lake, while growth rates changed for at least one ceased-stock and stocked lake. The average weight of channel catfish in the ceased-stock treatment increased by 6% and 25%, whereas weight decreased by 28% and 78% in both stocked lakes. The variability in observed responses between lakes in both ceased-stock and stocked treatments indicates that a one-size-fits-all stocking agenda is impractical, suggesting lake specific and density-dependent mechanisms affect channel catfish population dynamics.

Market Confidence Predicts Stock Price: Beyond Supply and Demand.

PubMed

Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi; Zhang, Yuqing

2016-01-01

Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price.

Applying Fishers' Ecological Knowledge to Construct Past and Future Lobster Stocks in the Juan Fernández Archipelago, Chile

PubMed Central

Eddy, Tyler D.; Gardner, Jonathan P. A.; Pérez-Matus, Alejandro

2010-01-01

Over-exploited fisheries are a common feature of the modern world and a range of solutions including area closures (marine reserves; MRs), effort reduction, gear changes, ecosystem-based management, incentives and co-management have been suggested as techniques to rebuild over-fished populations. Historic accounts of lobster (Jasus frontalis) on the Chilean Juan Fernández Archipelago indicate a high abundance at all depths (intertidal to approximately 165 m), but presently lobsters are found almost exclusively in deeper regions of their natural distribution. Fishers' ecological knowledge (FEK) tells a story of serial depletion in lobster abundance at fishing grounds located closest to the fishing port with an associated decline in catch per unit effort (CPUE) throughout recent history. We have re-constructed baselines of lobster biomass throughout human history on the archipelago using historic data, the fishery catch record and FEK to permit examination of the potential effects of MRs, effort reduction and co-management (stewardship of catch) to restore stocks. We employed a bioeconomic model using FEK, fishery catch and effort data, underwater survey information, predicted population growth and response to MR protection (no-take) to explore different management strategies and their trade-offs to restore stocks and improve catches. Our findings indicate that increased stewardship of catch coupled with 30% area closure (MR) provides the best option to reconstruct historic baselines. Based on model predictions, continued exploitation under the current management scheme is highly influenced by annual fluctuations and unsustainable. We propose a community-based co-management program to implement a MR in order to rebuild the lobster population while also providing conservation protection for marine species endemic to the Archipelago. PMID:21079761

Optimal policy for profit maximising in an EOQ model under non-linear holding cost and stock-dependent demand rate

NASA Astrophysics Data System (ADS)

Pando, V.; García-Laguna, J.; San-José, L. A.

2012-11-01

In this article, we integrate a non-linear holding cost with a stock-dependent demand rate in a maximising profit per unit time model, extending several inventory models studied by other authors. After giving the mathematical formulation of the inventory system, we prove the existence and uniqueness of the optimal policy. Relying on this result, we can obtain the optimal solution using different numerical algorithms. Moreover, we provide a necessary and sufficient condition to determine whether a system is profitable, and we establish a rule to check when a given order quantity is the optimal lot size of the inventory model. The results are illustrated through numerical examples and the sensitivity of the optimal solution with respect to changes in some values of the parameters is assessed.

Economic efficiency of high-rise construction in the Moscow program of renovation of housing stock

NASA Astrophysics Data System (ADS)

Misailovov, Andrey

2018-03-01

The article considers a new initiative of the regional authorities of updating the housing stock designated as the renovation of housing. Its main aspects are analyzed, including the nature of program, economic efficiency of its implementation due to high-rise construction and the regulatory and legislative framework, the procedure for implementing the program, and the time frame for its implementation. The role of the program for regions in which high depreciation of the housing stock is combined with a limited number of sites for a new housing construction is disclosed. The high-rise construction in the renovation program is presented as a variant of a successful solution not only of the tasks of renovating the housing stock, but also of filling the regional budget. The social and economic orientation of the high-rise construction and the involvement of residents in the process of making town-planning decisions in the field of high-rise construction at all stages of implementing the program are shown.

Photoalignment of a Bisazodioxodibenzothiophene in a Polyvinylpyrrolidone Matrix

NASA Astrophysics Data System (ADS)

Chaplanova, J. D.; Larykava, S. N.; Agabekov, V. E.; Mikulich, V. S.; Gracheva, E. A.

2016-09-01

Photoalignment of thin films of dipotassium 3,7-bis[1-(4-hydroxy-3-carboxylate)phenylazo]-5,5'-dioxodibenzothiophene (AtA-2) that were prepared by spin-coating of dye solutions in H2O and DMF and aqueous solutions of polyvinylpyrrolidone (PVP) was studied. The UV absorption band of the dye cis-isomer, the position and intensity of which depended on the PVP concentration in the stock solutions, was recorded upon irradiation of films of AtA-2 in a PVP matrix [AtA-2(PVP)] with unfi ltered light from a DRT-1000 lamp in a vacuum or an Ar atmosphere. PVP facilitated trans-cis isomerization of AtA-2 and increased the stability of the cis-isomer with respect to thermal relaxation into the initial trans-isomer. The dichroic ratio (DR) of AtA-2(PVP) films irradiated with linearly polarized light (blue LED with λ = 450 nm, I = 15 mW/cm2) increased by 1.5 times as the PVP concentration in the stock solutions increased from 1.0 to 10.0 mass%. The morphology and roughness of the films depended on the nature of the solvents used to prepare them.

Geography and distance effect on financial dynamics in the Chinese stock market

NASA Astrophysics Data System (ADS)

Li, Xing; Qiu, Tian; Chen, Guang; Zhong, Li-Xin; Jiang, Xiong-Fei

2016-09-01

Geography effect is investigated for the Chinese stock market including the Shanghai and Shenzhen stock markets, based on the daily data of individual stocks. The stocks in the Shanghai city and the Guangdong province are found to greatly contribute to the Shanghai and Shenzhen markets in the geographical sector, respectively. By investigating a geographical correlation on a geographical parameter, the stock location is found to have an impact on the financial dynamics, except for the financial crisis time of the Shenzhen market. Stock distance effect is further studied, with the probability of the short distance observed to be much greater than that of the long distance. The distance is found to only affect the stock correlation of the Shanghai stock market, but has no effect on the Shenzhen stock market.

Permutation entropy analysis of financial time series based on Hill's diversity number

NASA Astrophysics Data System (ADS)

Zhang, Yali; Shang, Pengjian

2017-12-01

In this paper the permutation entropy based on Hill's diversity number (Nn,r) is introduced as a new way to assess the complexity of a complex dynamical system such as stock market. We test the performance of this method with simulated data. Results show that Nn,r with appropriate parameters is more sensitive to the change of system and describes the trends of complex systems clearly. In addition, we research the stock closing price series from different data that consist of six indices: three US stock indices and three Chinese stock indices during different periods, Nn,r can quantify the changes of complexity for stock market data. Moreover, we get richer information from Nn,r, and obtain some properties about the differences between the US and Chinese stock indices.

Stability studies of oxytetracycline in methanol solution

NASA Astrophysics Data System (ADS)

Wang, Wei; Wu, Nan; Yang, Jinghui; Zeng, Ming; Xu, Chenshan; Li, Lun; Zhang, Meng; Li, Liting

2018-02-01

As one kind of typical tetracycline antibiotics, antibiotic residues of oxytetracycline have been frequently detected in many environmental media. In this study, the stability of oxytetracycline in methanol solution was investigated by high-performance liquid chromatography combined with UV-vis (HPLC-UV). The results show that the stability of oxytetracycline in methanol solution is highly related to its initial concentration and the preserved temperature. Under low temperature condition, the solution was more stable than under room temperature preservation. Under the same temperature preservation condition, high concentrations of stock solutions are more stable than low concentrations. The study provides a foundation for preserving the oxytetracycline-methanol solution.

Base Stock Policy in a Join-Type Production Line with Advanced Demand Information

NASA Astrophysics Data System (ADS)

Hiraiwa, Mikihiko; Tsubouchi, Satoshi; Nakade, Koichi

Production control such as the base stock policy, the kanban policy and the constant work-in-process policy in a serial production line has been studied by many researchers. Production lines, however, usually have fork-type, join-type or network-type figures. In addition, in most previous studies on production control, a finished product is required at the same time as arrival of demand at the system. Demand information is, however, informed before due date in practice. In this paper a join-type (assembly) production line under base stock control with advanced demand information in discrete time is analyzed. The recursive equations for the work-in-process are derived. The heuristic algorithm for finding appropriate base stock levels of all machines at short time is proposed and the effect of advanced demand information is examined by simulation with the proposed algorithm. It is shown that the inventory cost can decreases with little backlogs by using the appropriate amount of demand information and setting appropriate base stock levels.

A Technical Analysis Information Fusion Approach for Stock Price Analysis and Modeling

NASA Astrophysics Data System (ADS)

Lahmiri, Salim

In this paper, we address the problem of technical analysis information fusion in improving stock market index-level prediction. We present an approach for analyzing stock market price behavior based on different categories of technical analysis metrics and a multiple predictive system. Each category of technical analysis measures is used to characterize stock market price movements. The presented predictive system is based on an ensemble of neural networks (NN) coupled with particle swarm intelligence for parameter optimization where each single neural network is trained with a specific category of technical analysis measures. The experimental evaluation on three international stock market indices and three individual stocks show that the presented ensemble-based technical indicators fusion system significantly improves forecasting accuracy in comparison with single NN. Also, it outperforms the classical neural network trained with index-level lagged values and NN trained with stationary wavelet transform details and approximation coefficients. As a result, technical information fusion in NN ensemble architecture helps improving prediction accuracy.

How front-line healthcare workers respond to stock-outs of essential medicines in the Eastern Cape Province of South Africa.

PubMed

Hodes, R; Price, I; Bungane, N; Toska, E; Cluver, L

2017-08-25

Shortages of essential medicines are a daily occurrence in many of South Africa (SA)'s public health facilities. This study focuses on the responses of healthcare workers to stock-outs, investigating how actors at the 'front line' of public health delivery understand, experience and respond to shortages of essential medicines and equipment in their facilities. Findings are based on focus groups, observations and interviews with healthcare workers and patients at healthcare facilities in the Eastern Cape Province of SA, conducted as part of the Mzantsi Wakho study. The research revealed a discrepancy between 'informal' definitions of stock-outs and their reporting through formal stock-out management channels. Front-line healthcare workers had designed their own systems for classifying the severity of stock-outs, based on the product in question, and on their potential to access stocks from other facilities. Beyond formal systems of procurement and supply, healthcare workers had established vast networks of alternative communication and action, often using personal resources to procure medical supplies. Stock-outs were only reported when informal methods of stock-sharing did not secure top-up supplies. These findings have implications for understanding the frequency and severity of stock-outs, and for taking action to prevent and manage stock-outs effectively.

Genetic stock identification of immature chum salmon ( Oncorhynchus keta) in the western Bering Sea, 2004

NASA Astrophysics Data System (ADS)

Kang, Minho; Kim, Suam; Low, Loh-Lee

2016-03-01

Genetic stock identification studies have been widely applied to Pacific salmon species to estimate stock composition of complex mixed-stock fisheries. In a September-October 2004 survey, 739 chum salmon ( Oncorhynchus keta) specimens were collected from 23 stations in the western Bering Sea. We determined the genetic stock composition of immature chum salmon based on the previous mitochondria DNA baseline. Each regional estimate was computed based on the conditional maximum likelihood method using 1,000 bootstrap resampling and then pooled to the major regional groups: Korea - Japan - Primorie (KJP) / Russia (RU) / Northwest Alaska (NWA) / Alaska Peninsula - Southcentral Alaska - Southeast Alaska - British Columbia - Washington (ONA). The stock composition of immature chum salmon in the western Bering Sea was a mix of 0.424 KJP, 0.421 RU, 0.116 NWA, and 0.039 ONA stocks. During the study period, the contribution of Asian chum salmon stocks gradually changed from RU to KJP stock. In addition, North American populations from NWA and ONA were small but present near the vicinity of the Russian coast and the Commander Islands, suggesting that the study areas in the western Bering Sea were an important migration route for Pacific chum salmon originating both from Asia and North America during the months of September and October. These results make it possible to better understand the chum salmon stock composition of the mixed-stock fisheries in the western Bering Sea and the stock-specific distribution pattern of chum salmon on the high-seas.

Common stock solutions, buffers, and media.

PubMed

2001-05-01

This section describes the preparation of buffers and reagents used in this manual for cell culture, manipulation of tissue, and cell biological methods. Also discussed are special considerations for PCR experiments and for working with RNA.

NASCAR and EPA Green Initiatives MOU

EPA Pesticide Factsheets

To raise awareness of green products and solutions that can benefit NASCAR partners and fans, the EPA and the National Association for Stock Car Auto Racing (NASCAR) have signed a memorandum of understanding to work together.

Price Bubbles with Discounting: A Web-Based Classroom Experiment

ERIC Educational Resources Information Center

Bostian, AJ A.; Holt, Charles A.

2009-01-01

The authors describe a Web-based classroom experiment with two assets: cash and a stock that pays a random dividend. The interest rate on cash, coupled with a well-chosen final redemption value for the stock, induces a flat trajectory for the fundamental value of the stock. However, prices typically rise above this value during a session. The…

Development of computerized stocktaking system in mine surveying for ore mineral volume calculation in covered storehouses

NASA Astrophysics Data System (ADS)

Valdman, V. V.; Gridnev, S. O.

2017-10-01

The article examines into the vital issues of measuring and calculating the raw stock volumes in covered storehouses at mining and processing plants. The authors bring out two state-of-the-art high-technology solutions: 1 - to use the ground-based laser scanning system (the method is reasonably accurate and dependable, but costly and time consuming; it also requires the stoppage of works in the storehouse); 2 - to use the fundamentally new computerized stocktaking system in mine surveying for the ore mineral volume calculation, based on the profile digital images. These images are obtained via vertical projection of the laser plane onto the surface of the stored raw materials.

Market Confidence Predicts Stock Price: Beyond Supply and Demand

PubMed Central

Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi; Zhang, Yuqing

2016-01-01

Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price. PMID:27391816

Modified multidimensional scaling approach to analyze financial markets.

PubMed

Yin, Yi; Shang, Pengjian

2014-06-01

Detrended cross-correlation coefficient (σDCCA) and dynamic time warping (DTW) are introduced as the dissimilarity measures, respectively, while multidimensional scaling (MDS) is employed to translate the dissimilarities between daily price returns of 24 stock markets. We first propose MDS based on σDCCA dissimilarity and MDS based on DTW dissimilarity creatively, while MDS based on Euclidean dissimilarity is also employed to provide a reference for comparisons. We apply these methods in order to further visualize the clustering between stock markets. Moreover, we decide to confront MDS with an alternative visualization method, "Unweighed Average" clustering method, for comparison. The MDS analysis and "Unweighed Average" clustering method are employed based on the same dissimilarity. Through the results, we find that MDS gives us a more intuitive mapping for observing stable or emerging clusters of stock markets with similar behavior, while the MDS analysis based on σDCCA dissimilarity can provide more clear, detailed, and accurate information on the classification of the stock markets than the MDS analysis based on Euclidean dissimilarity. The MDS analysis based on DTW dissimilarity indicates more knowledge about the correlations between stock markets particularly and interestingly. Meanwhile, it reflects more abundant results on the clustering of stock markets and is much more intensive than the MDS analysis based on Euclidean dissimilarity. In addition, the graphs, originated from applying MDS methods based on σDCCA dissimilarity and DTW dissimilarity, may also guide the construction of multivariate econometric models.

Reducing Stock-Outs of Life Saving Malaria Commodities Using Mobile Phone Text-Messaging: SMS for Life Study in Kenya

PubMed Central

Githinji, Sophie; Kigen, Samwel; Memusi, Dorothy; Nyandigisi, Andrew; Mbithi, Agneta M.; Wamari, Andrew; Muturi, Alex N.; Jagoe, George; Barrington, Jim; Snow, Robert W.; Zurovac, Dejan

2013-01-01

Background Health facility stock-outs of life saving malaria medicines are common across Africa. Innovative ways of addressing this problem are urgently required. We evaluated whether SMS based reporting of stocks of artemether-lumefantrine (AL) and rapid diagnostic tests (RDT) can result in reduction of stock-outs at peripheral facilities in Kenya. Methods/Findings All 87 public health facilities in five Kenyan districts were included in a 26 week project. Weekly facility stock counts of four AL packs and RDTs were sent via structured incentivized SMS communication process from health workers’ personal mobile phones to a web-based system accessed by district managers. The mean health facility response rate was 97% with a mean formatting error rate of 3%. Accuracy of stock count reports was 79% while accuracy of stock-out reports was 93%. District managers accessed the system 1,037 times at an average of eight times per week. The system was accessed in 82% of the study weeks. Comparing weeks 1 and 26, stock-out of one or more AL packs declined by 38 percentage-points. Total AL stock-out declined by 5 percentage-points and was eliminated by the end of the project. Stock-out declines of individual AL packs ranged from 14 to 32 percentage-points while decline in RDT stock-outs was 24 percentage-points. District managers responded to 44% of AL and 73% of RDT stock-out signals by redistributing commodities between facilities. In comparison with national trends, stock-out declines in study areas were greater, sharper and more sustained. Conclusions Use of simple SMS technology ensured high reporting rates of reasonably accurate, real-time facility stock data that were used by district managers to undertake corrective actions to reduce stock-outs. Future work on stock monitoring via SMS should focus on assessing response rates without use of incentives and demonstrating effectiveness of such interventions on a larger scale. PMID:23349786

Ambiguity aversion and household portfolio choice puzzles: Empirical evidence*

PubMed Central

Dimmock, Stephen G.; Kouwenberg, Roy; Mitchell, Olivia S.; Peijnenburg, Kim

2017-01-01

We test the relation between ambiguity aversion and five household portfolio choice puzzles: nonparticipation in equities, low allocations to equity, home-bias, own-company stock ownership, and portfolio under-diversification. In a representative US household survey, we measure ambiguity preferences using custom-designed questions based on Ellsberg urns. As theory predicts, ambiguity aversion is negatively associated with stock market participation, the fraction of financial assets in stocks, and foreign stock ownership, but it is positively related to own-company stock ownership. Conditional on stock ownership, ambiguity aversion is related to portfolio under-diversification, and during the financial crisis, ambiguity-averse respondents were more likely to sell stocks. PMID:28458446

Ambiguity aversion and household portfolio choice puzzles: Empirical evidence.

PubMed

Dimmock, Stephen G; Kouwenberg, Roy; Mitchell, Olivia S; Peijnenburg, Kim

2016-03-01

We test the relation between ambiguity aversion and five household portfolio choice puzzles: nonparticipation in equities, low allocations to equity, home-bias, own-company stock ownership, and portfolio under-diversification. In a representative US household survey, we measure ambiguity preferences using custom-designed questions based on Ellsberg urns. As theory predicts, ambiguity aversion is negatively associated with stock market participation, the fraction of financial assets in stocks, and foreign stock ownership, but it is positively related to own-company stock ownership. Conditional on stock ownership, ambiguity aversion is related to portfolio under-diversification, and during the financial crisis, ambiguity-averse respondents were more likely to sell stocks.

Physical Characterization of Magnetic Bacteria and Their Electromagnetic Properties in the Frequency Range 1-400 GHz

DTIC Science & Technology

1986-05-14

PA IA 50 mg lipoic acid 50 mP --- TABLE 2. Estimated maximum cell concentrations based upon the elemental composition of the growth medium. In medium...Added amount per liter Tartaric acid 0.37 g Succinic acid 0.37 g Sodium acetate 0.05 g Sodium nitrate 0.17 g Monopotassium phosphate 0.69 g Sodium...Distilled water I liter ) Alternatively, 0.03 g ascorbic acid *±) Stock solution of 2.7 g/L FeC13 and 1.9 g/L Quinic acid ***) Mineral medium (pH 6.5 w/KOH

Microwave disinfection of maxillary and mandibular denture bases contaminated with Candida Albican.

PubMed

Bamigboye, S A; Dosumu, O O; Ajayi, D M

2015-09-01

Oral environment is not sterile, and dentures worn by the patients can be infected and therefore needs disinfection. Solution disinfectants such as sodium hypochlorite and glutaraldehyde can be used but they have side effects. Microwave disinfection method is more recent, however, there are conflicting reports at the moment on the appropriate power and time regimen for disinfection of denture. To determine the power and time regimen at which the disinfection of dentures can be achieved using microwave. Forty-five acrylic denture bases were fabricated for each of the jaws and infected with solution of a stock Candida albicans and 30 infected bases were employed as control. These were placed in normal saline and then subjected to different microwave power and time regimen. Aliquots from these post-microwave solution were titrated against sabauraud agar which was subsequently incubated at 37 degrees C for 48 hours. The agar were examined for candida growth. The denture bases subjected to microwave disinfection at 350W showed Candida growth after microwave treatment irrespective of the time employed. Conversely, those microwaved at 650W and 690W for four and six minutes showed no microbial growth. The microwave regimen of 650W at 4 and 6 minutes completely disinfected the denture bases. Disinfection at higher microwave energy should be done with caution as distortion of the denture may occur.

Stocking equations for regeneration in mixed oak stands

Treesearch

Songlin Fei; Kim C. Steiner; James C. Finley

2007-01-01

Regeneration stocking equations for mixed-oak stands were developed based on data collected from nearly 14,000 plots in the central Appalachians. Maximum stand density was identified by plotting aggregate height against number of seedlings per plot, and was used as the reference level of the average maximum stand density (100 percent stocking or A-level stocking)....

Beta Coefficient and Market Share: Downloading and Processing Data from DIALOG to LOTUS 1-2-3.

ERIC Educational Resources Information Center

Popovich, Charles J.

This article briefly describes the topics "beta coefficient"--a measurement of the price volatility of a company's stock in relationship to the overall stock market--and "market share"--an average measurement for the overall stock market based on a specified group of stocks. It then selectively recommends a database (file) on…

Modeling stock prices in a portfolio using multidimensional geometric brownian motion

NASA Astrophysics Data System (ADS)

Maruddani, Di Asih I.; Trimono

2018-05-01

Modeling and forecasting stock prices of public corporates are important studies in financial analysis, due to their stock price characteristics. Stocks investments give a wide variety of risks. Taking a portfolio of several stocks is one way to minimize risk. Stochastic process of single stock price movements model can be formulated in Geometric Brownian Motion (GBM) model. But for a portfolio that consist more than one corporate stock, we need an expansion of GBM Model. In this paper, we use multidimensional Geometric Brownian Motion model. This paper aims to model and forecast two stock prices in a portfolio. These are PT. Matahari Department Store Tbk and PT. Telekomunikasi Indonesia Tbk on period January 4, 2016 until April 21, 2017. The goodness of stock price forecast value is based on Mean Absolute Percentage Error (MAPE). As the results, we conclude that forecast two stock prices in a portfolio using multidimensional GBM give less MAPE than using GBM for single stock price respectively. We conclude that multidimensional GBM is more appropriate for modeling stock prices, because the price of each stock affects each other.

Simulation of the effects of time and size at stocking on PCB accumulation in lake trout

USGS Publications Warehouse

Madenjian, Charles P.; Carpenter, Stephen R.

1993-01-01

Manipulations of size at stocking and timing of stocking have already been used to improve survival of stocked salmonines in the Great Lakes. It should be possible to stock salmonines into the Great Lakes in a way that reduces the rate of polychlorinated biphenyl (PCB) accumulation in these fishes. An individual-based model (IBM) was used to investigate the effects of size at stocking and timing of stocking on PCB accumulation by lake trout Salvelinus namaycush in Lake Michigan. The individual-based feature of the model allowed lake trout individuals to encounter prey fish individuals and then consume sufficiently small prey fish. The IBM accurately accounted for the variation in PCB concentrations observed within the Lake Michigan lake trout population. Results of the IBM simulations revealed that increasing the average size at stocking from 110 to 160 mm total length led to an increase in the average PCB concentration in the stocked cohort at age 5, after the fish had spent 4 years in the lake, from 2.33 to 2.65 mg/kg; the percentage of lake trout in the cohort at the end of the simulated time period with PCB concentration of 2 mg/kg or more increased from 62% to 79%. Thus, PCB contamination was reduced when the simulated size at stocking was smallest. An overall stocking strategy for lake trout into Lake Michigan should weigh this advantage regarding PCB contamination against the poor survival of lake trout that may occur if the trout are stocked at too small a size.

The bishops and housing.

PubMed

Shellabarger, Thomas

2005-01-01

According to Catholic social teaching, housing is not a commodity but a human right. To ensure that all people--especially low-income elderly and other vulnerable populations--have access to affordable housing, the church has established a variety of programs, services, and advocacy efforts. Much of this work is based on key concepts: preserving existing housing stock, creating new programs to provide more options for the underserved, empowering residents and communities to deal with housing issues, establishing partnerships to make organizations' efforts more successful, making housing affordable, and ending discrimination in housing. Although church ministries, community groups, the private sector, and other players must work together to find solutions to the housing crisis, federal leadership is essential. Especially with the housing affordability gap growing and the U.S. population aging, the federal government must provide the resources, leadership, and direction for effective housing solutions.

Asymmetric MF-DCCA method based on risk conduction and its application in the Chinese and foreign stock markets

NASA Astrophysics Data System (ADS)

Cao, Guangxi; Han, Yan; Li, Qingchen; Xu, Wei

2017-02-01

The acceleration of economic globalization gradually shows the linkage of the stock markets in various counties and produces a risk conduction effect. An asymmetric MF-DCCA method is conducted based on the different directions of risk conduction (DMF-ADCCA) and by using the traditional MF-DCCA. To ensure that the empirical results are more objective and robust, this study selects the stock index data of China, the US, Germany, India, and Brazil from January 2011 to September 2014 using the asymmetric MF-DCCA method based on different risk conduction effects and nonlinear Granger causality tests to study the asymmetric cross-correlation between domestic and foreign stock markets. Empirical results indicate the existence of a bidirectional conduction effect between domestic and foreign stock markets, and the greater influence degree from foreign countries to domestic market compared with that from the domestic market to foreign countries.

Information System Engineering Supporting Observation, Orientation, Decision, and Compliant Action

NASA Astrophysics Data System (ADS)

Georgakopoulos, Dimitrios

The majority of today's software systems and organizational/business structures have been built on the foundation of solving problems via long-term data collection, analysis, and solution design. This traditional approach of solving problems and building corresponding software systems and business processes, falls short in providing the necessary solutions needed to deal with many problems that require agility as the main ingredient of their solution. For example, such agility is needed in responding to an emergency, in military command control, physical security, price-based competition in business, investing in the stock market, video gaming, network monitoring and self-healing, diagnosis in emergency health care, and many other areas that are too numerous to list here. The concept of Observe, Orient, Decide, and Act (OODA) loops is a guiding principal that captures the fundamental issues and approach for engineering information systems that deal with many of these problem areas. However, there are currently few software systems that are capable of supporting OODA. In this talk, we provide a tour of the research issues and state of the art solutions for supporting OODA. In addition, we provide specific examples of OODA solutions we have developed for the video surveillance and emergency response domains.

Mean-variance portfolio optimization by using time series approaches based on logarithmic utility function

NASA Astrophysics Data System (ADS)

Soeryana, E.; Fadhlina, N.; Sukono; Rusyaman, E.; Supian, S.

2017-01-01

Investments in stocks investors are also faced with the issue of risk, due to daily price of stock also fluctuate. For minimize the level of risk, investors usually forming an investment portfolio. Establishment of a portfolio consisting of several stocks are intended to get the optimal composition of the investment portfolio. This paper discussed about optimizing investment portfolio of Mean-Variance to stocks by using mean and volatility is not constant based on logarithmic utility function. Non constant mean analysed using models Autoregressive Moving Average (ARMA), while non constant volatility models are analysed using the Generalized Autoregressive Conditional heteroscedastic (GARCH). Optimization process is performed by using the Lagrangian multiplier technique. As a numerical illustration, the method is used to analyse some Islamic stocks in Indonesia. The expected result is to get the proportion of investment in each Islamic stock analysed.

Mean-Variance portfolio optimization by using non constant mean and volatility based on the negative exponential utility function

NASA Astrophysics Data System (ADS)

Soeryana, Endang; Halim, Nurfadhlina Bt Abdul; Sukono, Rusyaman, Endang; Supian, Sudradjat

2017-03-01

Investments in stocks investors are also faced with the issue of risk, due to daily price of stock also fluctuate. For minimize the level of risk, investors usually forming an investment portfolio. Establishment of a portfolio consisting of several stocks are intended to get the optimal composition of the investment portfolio. This paper discussed about optimizing investment portfolio of Mean-Variance to stocks by using mean and volatility is not constant based on the Negative Exponential Utility Function. Non constant mean analyzed using models Autoregressive Moving Average (ARMA), while non constant volatility models are analyzed using the Generalized Autoregressive Conditional heteroscedastic (GARCH). Optimization process is performed by using the Lagrangian multiplier technique. As a numerical illustration, the method is used to analyze some stocks in Indonesia. The expected result is to get the proportion of investment in each stock analyzed

Quantifying immediate price impact of trades based on the k-shell decomposition of stock trading networks

NASA Astrophysics Data System (ADS)

Xie, Wen-Jie; Li, Ming-Xia; Xu, Hai-Chuan; Chen, Wei; Zhou, Wei-Xing; Stanley, H. Eugene

2016-10-01

Traders in a stock market exchange stock shares and form a stock trading network. Trades at different positions of the stock trading network may contain different information. We construct stock trading networks based on the limit order book data and classify traders into k classes using the k-shell decomposition method. We investigate the influences of trading behaviors on the price impact by comparing a closed national market (A-shares) with an international market (B-shares), individuals and institutions, partially filled and filled trades, buyer-initiated and seller-initiated trades, and trades at different positions of a trading network. Institutional traders professionally use some trading strategies to reduce the price impact and individuals at the same positions in the trading network have a higher price impact than institutions. We also find that trades in the core have higher price impacts than those in the peripheral shell.

Evaluate the impact of hospital types on the availability of antidotes for the management of acute toxic exposures and poisonings in Malaysia.

PubMed

Al-Sohaim, Sulaiman I; Awang, Rahmat; Zyoud, Sa'ed H; Rashid, Sazaroni M D; Hashim, Sirajuddin

2012-03-01

The availability of antidotes may be considered essential and lifesaving in the management of certain poisonings. Surveys carried out in a number of countries have demonstrated inadequate availability of a variety of poisoning antidotes. The purpose of this study was to determine the availability of antidote stocking at hospitals, based on published guidelines for antidote stocking, and to evaluate the impact of hospital types on the availability of antidotes for the management of acute toxic exposures and poisonings in Malaysia. A questionnaire on the availability of antidotes was sent to all government accident and emergency departments in Malaysia. The list of commonly required antidotes and essential drugs was compiled from published guidelines. Collected data were analysed in SPSS version 16 using descriptive and comparative analysis. The response rate was 59.06%. None of the responding hospitals stocked all of the antidotes on the lists. In relation to hospital type, there was great variability in the availability of antidotes (there were significant differences between hospitals for 13 antidotes). The availabilities of most antidotes were far better in the General Hospitals and the District Hospitals with specialists compared to District Hospitals without specialists. Calcium gluconate, sodium bicarbonate, atropine sulphate, naloxone, flumazenil, vitamin K, and pyridoxine were available at all general hospitals. Atropine sulphate and naloxone were available at all district hospitals with specialists. Most Malaysian government hospitals stocked some important antidotes. Raising awareness of the importance of antidotes by education, regular review of antidote storage, distribution plans, and appropriate legislation might provide solutions. Coordination between Malaysian hospitals and the National Poison Centre at Universiti Sains Malaysia is also important.

High-density fiber optic biosensor arrays

NASA Astrophysics Data System (ADS)

Epstein, Jason R.; Walt, David R.

2002-02-01

Novel approaches are required to coordinate the immense amounts of information derived from diverse genomes. This concept has influenced the expanded role of high-throughput DNA detection and analysis in the biological sciences. A high-density fiber optic DNA biosensor was developed consisting of oligonucleotide-functionalized, 3.1 mm diameter microspheres deposited into the etched wells on the distal face of a 500 micrometers imaging fiber bundle. Imaging fiber bundles containing thousands of optical fibers, each associated with a unique oligonucleotide probe sequence, were the foundation for an optically connected, individually addressable DNA detection platform. Different oligonucleotide-functionalized microspheres were combined in a stock solution, and randomly dispersed into the etched wells. Microsphere positions were registered from optical dyes incorporated onto the microspheres. The distribution process provided an inherent redundancy that increases the signal-to-noise ratio as the square root of the number of sensors examined. The representative amount of each probe-type in the array was dependent on their initial stock solution concentration, and as other sequences of interest arise, new microsphere elements can be added to arrays without altering the existing detection capabilities. The oligonucleotide probe sequences hybridize to fluorescently-labeled, complementary DNA target solutions. Fiber optic DNA microarray research has included DNA-protein interaction profiles, microbial strain differentiation, non-labeled target interrogation with molecular beacons, and single cell-based assays. This biosensor array is proficient in DNA detection linked to specific disease states, single nucleotide polymorphism (SNP's) discrimination, and gene expression analysis. This array platform permits multiple detection formats, provides smaller feature sizes, and enables sensor design flexibility. High-density fiber optic microarray biosensors provide a fast, reversible format with the detection limit of a few hundred molecules.

The difficulties of conducting maternal death reviews in Malawi.

PubMed

Kongnyuy, Eugene J; van den Broek, Nynke

2008-09-11

Maternal death reviews is a tool widely recommended to improve the quality of obstetric care and reduce maternal mortality. Our aim was to explore the challenges encountered in the process of facility-based maternal death review in Malawi, and to suggest sustainable and logically sound solutions to these challenges. SWOT (strengths, weaknesses, opportunities and threats) analysis of the process of maternal death review during a workshop in Malawi. Strengths: Availability of data from case notes, support from hospital management, and having maternal death review forms. Weaknesses: fear of blame, lack of knowledge and skills to properly conduct death reviews, inadequate resources and missing documentation. Opportunities: technical assistance from expatriates, support from the Ministry of Health, national protocols and high maternal mortality which serves as motivation factor. Threats: Cultural practices, potential lawsuit, demotivation due to the high maternal mortality and poor planning at the district level. Solutions: proper documentation, conducting maternal death review in a blame-free manner, good leadership, motivation of staff, using guidelines, proper stock inventory and community involvement. Challenges encountered during facility-based maternal death review are provider-related, administrative, client related and community related. Countries with similar socioeconomic profiles to Malawi will have similar 'pull-and-push' factors on the process of facility-based maternal death reviews, and therefore we will expect these countries to have similar potential solutions.

Simplifying ART cohort monitoring: can pharmacy stocks provide accurate estimates of patients retained on antiretroviral therapy in Malawi?

PubMed

Tweya, Hannock; Feldacker, Caryl; Ben-Smith, Anne; Harries, Anthony D; Komatsu, Ryuichi; Jahn, Andreas; Phiri, Sam; Tassie, Jean-Michel

2012-07-20

Routine monitoring of patients on antiretroviral therapy (ART) is crucial for measuring program success and accurate drug forecasting. However, compiling data from patient registers to measure retention in ART is labour-intensive. To address this challenge, we conducted a pilot study in Malawi to assess whether patient ART retention could be determined using pharmacy records as compared to estimates of retention based on standardized paper- or electronic based cohort reports. Twelve ART facilities were included in the study: six used paper-based registers and six used electronic data systems. One ART facility implemented an electronic data system in quarter three and was included as a paper-based system facility in quarter two only. Routine patient retention cohort reports, paper or electronic, were collected from facilities for both quarter two [April-June] and quarter three [July-September], 2010. Pharmacy stock data were also collected from the 12 ART facilities over the same period. Numbers of ART continuation bottles recorded on pharmacy stock cards at the beginning and end of each quarter were documented. These pharmacy data were used to calculate the total bottles dispensed to patients in each quarter with intent to estimate the number of patients retained on ART. Information for time required to determine ART retention was gathered through interviews with clinicians tasked with compiling the data. Among ART clinics with paper-based systems, three of six facilities in quarter two and four of five facilities in quarter three had similar numbers of patients retained on ART comparing cohort reports to pharmacy stock records. In ART clinics with electronic systems, five of six facilities in quarter two and five of seven facilities in quarter three had similar numbers of patients retained on ART when comparing retention numbers from electronically generated cohort reports to pharmacy stock records. Among paper-based facilities, an average of 13 4 hours was needed to calculate patient retention for cohort reporting using patient registers as compared to 2.25 hours using pharmacy stock cards. The numbers of patients retained on ART as estimated using pharmacy stock records were largely similar to estimates based on either paper registers or electronic data system. Furthermore, less time and staff effort was needed to estimate ART patient retention using pharmacy stock records versus paper-based registers. Reinforcing ARV stock management may improve the precision of estimates.

Stock price prediction using geometric Brownian motion

NASA Astrophysics Data System (ADS)

Farida Agustini, W.; Restu Affianti, Ika; Putri, Endah RM

2018-03-01

Geometric Brownian motion is a mathematical model for predicting the future price of stock. The phase that done before stock price prediction is determine stock expected price formulation and determine the confidence level of 95%. On stock price prediction using geometric Brownian Motion model, the algorithm starts from calculating the value of return, followed by estimating value of volatility and drift, obtain the stock price forecast, calculating the forecast MAPE, calculating the stock expected price and calculating the confidence level of 95%. Based on the research, the output analysis shows that geometric Brownian motion model is the prediction technique with high rate of accuracy. It is proven with forecast MAPE value ≤ 20%.

75 FR 39063 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing of a Proposed Rule...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-07-07

... products based on that index? If there are trading pauses in an ETF but not in the stocks that underlie that ETF, what consequences might that have for the underlying stocks or other products? What are the potential effects on price discovery for the ETF, the underlying stocks and other products? Are there other...

Stochastic GARCH dynamics describing correlations between stocks

NASA Astrophysics Data System (ADS)

Prat-Ortega, G.; Savel'ev, S. E.

2014-09-01

The ARCH and GARCH processes have been successfully used for modelling price dynamics such as stock returns or foreign exchange rates. Analysing the long range correlations between stocks, we propose a model, based on the GARCH process, which is able to describe the main characteristics of the stock price correlations, including the mean, variance, probability density distribution and the noise spectrum.

The level of awareness and the attitude of patients recommended for use of compression stockings in Turkish society, and investigation of the factors affecting their use.

PubMed

Manduz, Şinasi; Ada, Fatih; Ada, Yusuf

2018-01-01

The purpose of this study was to reveal the treatment outlook, usage habits, and factors affecting these habits, in addition to providing suggestions for solutions for patients who are frequently recommended the use of compression stockings as treatment for conditions such as chronic venous insufficiency, deep vein thrombosis, lymphedema, and pregnancy. The study was conducted as a face-to-face questionnaire session with 1,004 patients who had previously registered at the cardiovascular surgeon's polyclinic of Sivas Numune Hospital between March 29, 2017, and October 31, 2017. In the study, basic criteria such as the patients' history, physical examination findings, and the use of compression stockings were evaluated. The survey was conducted in patients who were recommended compression stockings treatment for conditions such as chronic venous insufficiency, deep vein thrombosis, lymphedema, or pregnancy. The patients were asked about their demographics, characteristics of the compression stockings, whether compression stockings were used or not, and doctor evaluations related to the diagnosis. At the end of the study, it was found that 20.5% of the patients who were recommended compression stockings never bought them and only 11.5% of the patients regularly used them. Another surprising detail was that only 54.7% of the patients thought that the compression stockings were part of the treatment and 44.0% of the patients thought that they would benefit from using them. In many guidelines, use of compression stockings is the cornerstone of treatment of venous diseases. However, when the treatment incompatibility of the patients is taken into account, many duties fall to the doctors. The first of these is to inform the patient about the treatment and to answer any questions from the patients. In addition, the socioeconomic and sociocultural status of patients should be considered by the doctors.

The level of awareness and the attitude of patients recommended for use of compression stockings in Turkish society, and investigation of the factors affecting their use

PubMed Central

Manduz, Şinasi; Ada, Fatih; Ada, Yusuf

2018-01-01

Objective The purpose of this study was to reveal the treatment outlook, usage habits, and factors affecting these habits, in addition to providing suggestions for solutions for patients who are frequently recommended the use of compression stockings as treatment for conditions such as chronic venous insufficiency, deep vein thrombosis, lymphedema, and pregnancy. Methods The study was conducted as a face-to-face questionnaire session with 1,004 patients who had previously registered at the cardiovascular surgeon’s polyclinic of Sivas Numune Hospital between March 29, 2017, and October 31, 2017. In the study, basic criteria such as the patients’ history, physical examination findings, and the use of compression stockings were evaluated. The survey was conducted in patients who were recommended compression stockings treatment for conditions such as chronic venous insufficiency, deep vein thrombosis, lymphedema, or pregnancy. The patients were asked about their demographics, characteristics of the compression stockings, whether compression stockings were used or not, and doctor evaluations related to the diagnosis. Results At the end of the study, it was found that 20.5% of the patients who were recommended compression stockings never bought them and only 11.5% of the patients regularly used them. Another surprising detail was that only 54.7% of the patients thought that the compression stockings were part of the treatment and 44.0% of the patients thought that they would benefit from using them. Conclusion In many guidelines, use of compression stockings is the cornerstone of treatment of venous diseases. However, when the treatment incompatibility of the patients is taken into account, many duties fall to the doctors. The first of these is to inform the patient about the treatment and to answer any questions from the patients. In addition, the socioeconomic and sociocultural status of patients should be considered by the doctors. PMID:29588577

Effect of flow rate and insulin priming on the recovery of insulin from microbore infusion tubing.

PubMed

Fuloria, M; Friedberg, M A; DuRant, R H; Aschner, J L

1998-12-01

A retrospective medical record review of 13 consecutive, hyperglycemic, extremely low birth weight (ELBW) infants treated with continuous insulin infusions revealed a 14- to 24-hour delay (mean, 19 hours) in blood glucose normalization despite stepwise increases in insulin infusion rates. This in vitro study examined the effects of flow rate and insulin priming on insulin recovery from polyvinyl chloride (PVC) tubing and polyethylene (PE)-lined PVC tubing infused with a standard insulin stock solution. Stock insulin solution (0.2 U/mL) was infused through microbore PVC or PE-lined tubing at flow rates of 0.05 and 0.2 mL/h. To determine if saturation of nonspecific binding sites would alter effluent insulin concentration, we compared insulin recovery from tubing previously flushed with the stock solution and tubing primed with 5 U/mL of insulin for 20 minutes. Effluent samples, which were collected at baseline and at six time points during a 24-hour period, were immediately frozen at -20 degreesC. Insulin concentration was measured by IMx immunoassay. Data were analyzed using general linear modeling with repeated measures. At 0.05 mL/h flow rate, insulin recovery from unprimed PVC tubing at 1, 2, 4, and 8 hours was 17%, 11%, 27%, and 55%, respectively, with 100% recovery at 24 hours. From insulin-primed tubing, insulin recovery was approximately 70% at 1, 2, and 4 hours, and close to 100% at 8 hours. At a faster flow rate of 0.2 mL/h, insulin recovery at 1, 2, 4, and 8 hours was 22%, 38%, 67%, and 75% vs 42%, 85%, 91% and 95% from unprimed and insulin-primed PVC tubing, respectively. Similar results were obtained from unprimed and insulin-primed PE-lined tubing at 0.2 mL/h flow rate. Priming of microbore tubing with 5 U/mL of insulin solution for 20 minutes to block nonspecific binding sites enhances delivery of a standard insulin stock at infusion rates typically used to treat hyperglycemic ELBW infants. We conclude that priming the tubing with a higher concentration of insulin before initiation of standard insulin infusion therapy should accelerate achievement of steady-state insulin delivery and correction of hyperglycemia in ELBW infants.

Word of Mouth : An Agent-based Approach to Predictability of Stock Prices

NASA Astrophysics Data System (ADS)

Shimokawa, Tetsuya; Misawa, Tadanobu; Watanabe, Kyoko

This paper addresses how communication processes among investors affect stock prices formation, especially emerging predictability of stock prices, in financial markets. An agent based model, called the word of mouth model, is introduced for analyzing the problem. This model provides a simple, but sufficiently versatile, description of informational diffusion process and is successful in making lucidly explanation for the predictability of small sized stocks, which is a stylized fact in financial markets but difficult to resolve by traditional models. Our model also provides a rigorous examination of the under reaction hypothesis to informational shocks.

Assessment of Filter Materials for Removal of Contaminants From Agricultural Drainage Waters

NASA Astrophysics Data System (ADS)

Allred, B. J.

2007-12-01

Fertilizer nutrients and pesticides applied on farm fields, especially in the Midwest U.S., are commonly intercepted by buried agricultural drainage pipes and then discharged into local streams and lakes, oftentimes resulting in an adverse environmental impact on these surface water bodies. Low cost filter materials have the potential to remove nutrient and pesticide contaminants from agricultural drainage waters before these waters are released from the farm site. Batch tests were conducted to find filter materials potentially capable of removing nutrient (nitrate and phosphate) and pesticide (atrazine) contaminants from subsurface drainage waters. For each batch test, stock solution (40 g) and filter material (5 g) were combined in 50 mL Teflon centrifuge tubes and mixed with a rotator for 24 hours. The stock solution contained 50 mg/L nitrate-N, 0.25 mg/L phosphate-P, 0.4 mg/L atrazine, 570 mg/L calcium sulfate, and 140 mg/L potassium chloride. Calcium sulfate and potassium chloride were added so that the stock solution would contain anions and cations normally found in agricultural drainage waters. There were six replicate batch tests for each filter material. At the completion of each test, solution was removed from the centrifuge tube and analyzed for nitrate-N, phosphate-P, and atrazine. A total of 38 filter materials were tested, which were divided into five classes; high carbon content substances, high iron content substances, high aluminum content substances, surfactant modified clay/zeolite, and coal combustion products. Batch test results generally indicate, that with regard to the five classes of filter materials; high carbon content substances adsorbed atrazine very effectively; high iron content substances worked especially well removing almost all of the phosphate present; high aluminum content substances lowered phosphate levels; surfactant modified clay/zeolite substantially reduced both nitrate and atrazine; and coal combustion products significantly decreased phosphate amounts. For the 38 specific filter materials evaluated, based on a 60 percent contaminant reduction level, 12 materials removed nitrate, 26 materials removed phosphate, and 21 materials removed atrazine. Furthermore, 2 materials removed zero contaminants, 16 materials removed one contaminant, 17 materials removed two contaminants, and 3 of the materials removed all three contaminants. The most effective filter materials proved to be a steam activated carbon, a zero valent iron and sulfer modified iron mixture, and a surfactant modified clay. The findings of this study indicate that there are a variety of filter materials, either separately or in combination, which have the potential to treat agricultural drainage waters.

D-brane solutions under market panic

NASA Astrophysics Data System (ADS)

Pincak, Richard

The relativistic quantum mechanic approach is used to develop stock market dynamics. The relativistic is conceptional here as the meaning of big external volatility or volatility shock on a financial market. We used a differential geometry approach with the parallel transport of prices to obtain a direct shift of the stock price movement. The prices are represented here as electrons with different spin orientation. Up and down orientations of the spin particle are likened here to an increase or a decrease of stock prices. The parallel transport of stock prices is enriched by Riemann curvature, which describes some arbitrage opportunities in the market. To solve the stock-price dynamics, we used the Dirac equation for bispinors on the spherical brane-world. We found out that when a spherical brane is abbreviated to the disk on the equator, we converge to the ideal behavior of financial market where Black-Scholes as well as semi-classical equations are sufficient. Full spherical brane-world scenarios can describe non-equilibrium market behavior where all arbitrage opportunities as well as transaction costs are taken into account. Real application of the model to the option pricing was done. The model developed in this paper brings quantitative different results of option pricing dynamics in the case of nonzero Riemann curvature.

Using mushroom farm and anaerobic digestion wastewaters as supplemental fertilizer sources for growing container nursery stock in a closed system.

PubMed

Chong, C; Purvis, P; Lumis, G; Holbein, B E; Voroney, R P; Zhou, H; Liu, H-W; Alam, M Z

2008-04-01

Wastewaters from farm and composting operations are often rich in select nutrients that potentially can be reutilized in crop production. Liners of silverleaf dogwood (Cornus alba L. 'Argenteo-marginata'), common ninebark [Physocarpus opulifolius (L.) Maxim.], and Anthony Waterer spirea (Spiraeaxbumalda Burvénich 'Anthony Waterer') were grown in 6L containers filled with a bark-based commercial mix. Plants were fertigated daily via a computer-controlled multi-fertilizer injector with three recirculated fertilizer treatments: (1) a stock (control) solution with complete macro- and micro-nutrients, electrical conductivity (EC) 2.2 dS m(-1); (2) wastewater from a mushroom farm; and (3) process wastewater from anaerobic digestion of municipal solid waste. The wastewaters used in both treatments 2 and 3 were diluted with tap water, and the computer was programmed to amend, dispense and recirculate nutrients based on the same target EC as in treatment 1. For comparison, there was a traditional controlled-release fertilizer treatment [Nutryon 17-5-12 (17N-2P-10K) plus micro-nutrients topdressed at a rate of 39 g/plant, nutrients not recirculated]. All three species responded similarly to the three recirculated fertilizer treatments. Growth with the recirculated treatments was similar and significantly higher than that obtained with controlled-release fertilizer. Throughout the study, the EC measured in wastewater-derived nutrient solutions, and also in the container substrate, were similar or close to those of the control treatment, although there were small to large differences among individual major nutrients. There was no sign of nutrient deficiency or toxicity symptoms to the plants. Small to moderate excesses in concentrations of SO(4), Na, and/or Cl were physiologically tolerable to the species.

Soil carbon stocks across tropical forests of Panama regulated by base cation effects on fine roots

DOE PAGES

Cusack, Daniela F.; Markesteijn, Lars; Condit, Richard; ...

2018-01-02

We report that tropical forests are the most carbon (C)- rich ecosystems on Earth, containing 25–40% of global terrestrial C stocks. While large-scale quantifi- cation of aboveground biomass in tropical forests has improved recently, soil C dynamics remain one of the largest sources of uncertainty in Earth system models, which inhibits our ability to predict future climate. Globally, soil texture and climate predict B 30% of the variation in soil C stocks, so ecosystem models often predict soil C using measures of aboveground plant growth. However, this approach can underestimate tropical soil C stocks, and has proven inaccurate when comparedmore » with data for soil C in data-rich northern ecosystems. By quantifying soil organic C stocks to 1 m depth for 48 humid tropical forest plots across gradients of rainfall and soil fertility in Panama, we show that soil C does not correlate with common predictors used in models, such as plant biomass or litter production. Instead, a structural equation model including base cations, soil clay content, and rainfall as exogenous factors and root biomass as an endogenous factor predicted nearly 50% of the variation in tropical soil C stocks, indicating a strong indirect effect of base cation availability on tropical soil C storage. Including soil base cations in C cycle models, and thus emphasizing mechanistic links among nutrients, root biomass, and soil C stocks, will improve prediction of climate-soil feedbacks in tropical forests.« less

Soil carbon stocks across tropical forests of Panama regulated by base cation effects on fine roots

DOE Office of Scientific and Technical Information (OSTI.GOV)

Cusack, Daniela F.; Markesteijn, Lars; Condit, Richard

We report that tropical forests are the most carbon (C)- rich ecosystems on Earth, containing 25–40% of global terrestrial C stocks. While large-scale quantifi- cation of aboveground biomass in tropical forests has improved recently, soil C dynamics remain one of the largest sources of uncertainty in Earth system models, which inhibits our ability to predict future climate. Globally, soil texture and climate predict B 30% of the variation in soil C stocks, so ecosystem models often predict soil C using measures of aboveground plant growth. However, this approach can underestimate tropical soil C stocks, and has proven inaccurate when comparedmore » with data for soil C in data-rich northern ecosystems. By quantifying soil organic C stocks to 1 m depth for 48 humid tropical forest plots across gradients of rainfall and soil fertility in Panama, we show that soil C does not correlate with common predictors used in models, such as plant biomass or litter production. Instead, a structural equation model including base cations, soil clay content, and rainfall as exogenous factors and root biomass as an endogenous factor predicted nearly 50% of the variation in tropical soil C stocks, indicating a strong indirect effect of base cation availability on tropical soil C storage. Including soil base cations in C cycle models, and thus emphasizing mechanistic links among nutrients, root biomass, and soil C stocks, will improve prediction of climate-soil feedbacks in tropical forests.« less

The Blood Stocks Management Scheme, a partnership venture between the National Blood Service of England and North Wales and participating hospitals for maximizing blood supply chain management.

PubMed

Chapman, J F; Cook, R

2002-10-01

The Blood Stocks Management Scheme (BSMS) has been established as a joint venture between the National Blood Service (NBS) in England and North Wales and participating hospitals to monitor the blood supply chain. Stock and wastage data are submitted to a web-based data-management system, facilitating continuous and complete red cell data collection and 'real time' data extraction. The data-management system enables peer review of performance in respect of stock holding levels and red cell wastage. The BSMS has developed an innovative web-based data-management system that enables data collection and benchmarking of practice, which should drive changes in stock management practice, therefore optimizing the use of donated blood.

Degree-strength correlation reveals anomalous trading behavior.

PubMed

Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi; Wang, Zhao-Yang

2012-01-01

Manipulation is an important issue for both developed and emerging stock markets. Many efforts have been made to detect manipulation in stock markets. However, it is still an open problem to identify the fraudulent traders, especially when they collude with each other. In this paper, we focus on the problem of identifying the anomalous traders using the transaction data of eight manipulated stocks and forty-four non-manipulated stocks during a one-year period. By analyzing the trading networks of stocks, we find that the trading networks of manipulated stocks exhibit significantly higher degree-strength correlation than the trading networks of non-manipulated stocks and the randomized trading networks. We further propose a method to detect anomalous traders of manipulated stocks based on statistical significance analysis of degree-strength correlation. Experimental results demonstrate that our method is effective at distinguishing the manipulated stocks from non-manipulated ones. Our method outperforms the traditional weight-threshold method at identifying the anomalous traders in manipulated stocks. More importantly, our method is difficult to be fooled by colluded traders.

Carbon sequestration in harvested wood products.

Treesearch

K. Skog

2011-01-01

This section quantifies the net changes in C stocks in the five forest C pools and two harvested wood pools. The net change in stocks for each pool is estimated, and then the changes in stocks are summed over all pools to estimate total net flux. The focus on C implies that all C-based greenhouse gases are included, and the focus on stock change suggests that specific...

The evolution of spillover effects between oil and stock markets across multi-scales using a wavelet-based GARCH-BEKK model

NASA Astrophysics Data System (ADS)

Liu, Xueyong; An, Haizhong; Huang, Shupei; Wen, Shaobo

2017-01-01

Aiming to investigate the evolution of mean and volatility spillovers between oil and stock markets in the time and frequency dimensions, we employed WTI crude oil prices, the S&P 500 (USA) index and the MICEX index (Russia) for the period Jan. 2003-Dec. 2014 as sample data. We first applied a wavelet-based GARCH-BEKK method to examine the spillover features in frequency dimension. To consider the evolution of spillover effects in time dimension at multiple-scales, we then divided the full sample period into three sub-periods, pre-crisis period, crisis period, and post-crisis period. The results indicate that spillover effects vary across wavelet scales in terms of strength and direction. By analysis the time-varying linkage, we found the different evolution features of spillover effects between the Oil-US stock market and Oil-Russia stock market. The spillover relationship between oil and US stock market is shifting to short-term while the spillover relationship between oil and Russia stock market is changing to all time scales. That result implies that the linkage between oil and US stock market is weakening in the long-term, and the linkage between oil and Russia stock market is getting close in all time scales. This may explain the phenomenon that the US stock index and the Russia stock index showed the opposite trend with the falling of oil price in the post-crisis period.

Photolysis of RDX in Aqueous Solution, With and Without Ozone

DTIC Science & Technology

1979-02-09

and compared with a standard prepared from the same TNT solution and an accurately weighed RDX sample in acetone ( 40 ppm). The GC analysis of the...aqueous carbon-14 RDX agreed with the weight ( 40 ppm). A stock solution of carbon-12 RDX in tap water was prepared by stirring an excess of RDX in 2 liters...as volatiles 8.4% " i10 7, 77 Y 40 ’ NSWC/WOL TR 78-175 Chemical Analysis of Acidified Reaction Mixture Nitrate ion: 4.91 x 10- M Ammonia: 2.5 x 10 -4

Nonlinear multi-analysis of agent-based financial market dynamics by epidemic system

NASA Astrophysics Data System (ADS)

Lu, Yunfan; Wang, Jun; Niu, Hongli

2015-10-01

Based on the epidemic dynamical system, we construct a new agent-based financial time series model. In order to check and testify its rationality, we compare the statistical properties of the time series model with the real stock market indices, Shanghai Stock Exchange Composite Index and Shenzhen Stock Exchange Component Index. For analyzing the statistical properties, we combine the multi-parameter analysis with the tail distribution analysis, the modified rescaled range analysis, and the multifractal detrended fluctuation analysis. For a better perspective, the three-dimensional diagrams are used to present the analysis results. The empirical research in this paper indicates that the long-range dependence property and the multifractal phenomenon exist in the real returns and the proposed model. Therefore, the new agent-based financial model can recurrence some important features of real stock markets.

A semiparametric graphical modelling approach for large-scale equity selection.

PubMed

Liu, Han; Mulvey, John; Zhao, Tianqi

2016-01-01

We propose a new stock selection strategy that exploits rebalancing returns and improves portfolio performance. To effectively harvest rebalancing gains, we apply ideas from elliptical-copula graphical modelling and stability inference to select stocks that are as independent as possible. The proposed elliptical-copula graphical model has a latent Gaussian representation; its structure can be effectively inferred using the regularized rank-based estimators. The resulting algorithm is computationally efficient and scales to large data-sets. To show the efficacy of the proposed method, we apply it to conduct equity selection based on a 16-year health care stock data-set and a large 34-year stock data-set. Empirical tests show that the proposed method is superior to alternative strategies including a principal component analysis-based approach and the classical Markowitz strategy based on the traditional buy-and-hold assumption.

Real-world datasets for portfolio selection and solutions of some stochastic dominance portfolio models.

PubMed

Bruni, Renato; Cesarone, Francesco; Scozzari, Andrea; Tardella, Fabio

2016-09-01

A large number of portfolio selection models have appeared in the literature since the pioneering work of Markowitz. However, even when computational and empirical results are described, they are often hard to replicate and compare due to the unavailability of the datasets used in the experiments. We provide here several datasets for portfolio selection generated using real-world price values from several major stock markets. The datasets contain weekly return values, adjusted for dividends and for stock splits, which are cleaned from errors as much as possible. The datasets are available in different formats, and can be used as benchmarks for testing the performances of portfolio selection models and for comparing the efficiency of the algorithms used to solve them. We also provide, for these datasets, the portfolios obtained by several selection strategies based on Stochastic Dominance models (see "On Exact and Approximate Stochastic Dominance Strategies for Portfolio Selection" (Bruni et al. [2])). We believe that testing portfolio models on publicly available datasets greatly simplifies the comparison of the different portfolio selection strategies.

Power-law tails in the distribution of order imbalance

NASA Astrophysics Data System (ADS)

Zhang, Ting; Gu, Gao-Feng; Xu, Hai-Chuan; Xiong, Xiong; Chen, Wei; Zhou, Wei-Xing

2017-10-01

We investigate the probability distribution of order imbalance calculated from the order flow data of 43 Chinese stocks traded on the Shenzhen Stock Exchange. Two definitions of order imbalance are considered based on the order number and the order size. We find that the order imbalance distributions of individual stocks have power-law tails. However, the tail index fluctuates remarkably from stock to stock. We also investigate the distributions of aggregated order imbalance of all stocks at different timescales Δt. We find no clear trend in the tail index with respect Δt. All the analyses suggest that the distributions of order imbalance are asymmetric.

Estimating Soil Organic Carbon stocks and uncertainties for the National inventory Report - a study case in Southern Belgium

NASA Astrophysics Data System (ADS)

Chartin, Caroline; Stevens, Antoine; Kruger, Inken; Esther, Goidts; Carnol, Monique; van Wesemael, Bas

2016-04-01

As many other countries, Belgium complies with Annex I of the United Nations Framework Convention on Climate Change (UNFCCC). Belgium thus reports its annual greenhouse gas emissions in its national inventory report (NIR), with a distinction between emissions/sequestration in cropland and grassland (EU decision 529/2013). The CO2 fluxes are then based on changes in SOC stocks computed for each of these two types of landuse. These stocks are specified for each of the agricultural regions which correspond to areas with similar agricultural practices (rotations and/or livestock) and yield potentials. For Southern Belgium (Wallonia) consisting of ten agricultural regions, the Soil Monitoring Network (SMN) 'CARBOSOL' has been developed this last decade to survey the state of agricultural soils by quantifying SOC stocks and their evolution in a reasonable number of locations complying with the time and funds allocated. Unfortunately, the 592 points of the CARBOSOL network do not allow a representative and a sound estimation of SOC stocks and its uncertainties for the 20 possible combinations of land use/agricultural regions. Moreover, the SMN CARBIOSOL is based on a legacy database following a convenience scheme sampling strategy rather than a statistical scheme defined by design-based or model-based strategies. Here, we aim to both quantify SOC budgets (i.e., How much?) and spatialize SOC stocks (i.e., Where?) at regional scale (Southern Belgium) based on data from the SMN described above. To this end, we developed a computation procedure based on Digital Soil Mapping techniques and stochastic simulations (Monte-Carlo) allowing the estimation of multiple (10,000) independent spatialized datasets. This procedure accounts for the uncertainties associated to estimations of both i) SOC stock at the pixelscale and ii) parameters of the models. Based on these 10,000 individual realizations of the spatial model, mean SOC stocks and confidence intervals can be then computed at the pixel scale, for selected sub-areas (i.e., the 20 landuse/agricultural region combinations) and for the entire study area.

Indications for medical compression stockings in venous and lymphatic disorders: An evidence-based consensus statement

PubMed Central

Rabe, Eberhard; Partsch, Hugo; Hafner, Juerg; Lattimer, Christopher; Mosti, Giovanni; Neumann, Martino; Urbanek, Tomasz; Huebner, Monika; Gaillard, Sylvain; Carpentier, Patrick

2017-01-01

Objective Medical compression stockings are a standard, non-invasive treatment option for all venous and lymphatic diseases. The aim of this consensus document is to provide up-to-date recommendations and evidence grading on the indications for treatment, based on evidence accumulated during the past decade, under the auspices of the International Compression Club. Methods A systematic literature review was conducted and, using PRISMA guidelines, 51 relevant publications were selected for an evidence-based analysis of an initial 2407 unrefined results. Key search terms included: ‘acute', CEAP', ‘chronic', ‘compression stockings', ‘compression therapy', ‘lymph', ‘lymphatic disease', ‘vein' and ‘venous disease'. Evidence extracted from the publications was graded initially by the panel members individually and then refined at the consensus meeting. Results Based on the current evidence, 25 recommendations for chronic and acute venous disorders were made. Of these, 24 recommendations were graded as: Grade 1A (n = 4), 1B (n = 13), 1C (n = 2), 2B (n = 4) and 2C (n = 1). The panel members found moderately robust evidence for medical compression stockings in patients with venous symptoms and prevention and treatment of venous oedema. Robust evidence was found for prevention and treatment of venous leg ulcers. Recommendations for stocking-use after great saphenous vein interventions were limited to the first post-interventional week. No randomised clinical trials are available that document a prophylactic effect of medical compression stockings on the progression of chronic venous disease (CVD). In acute deep vein thrombosis, immediate compression is recommended to reduce pain and swelling. Despite conflicting results from a recent study to prevent post-thrombotic syndrome, medical compression stockings are still recommended. In thromboprophylaxis, the role of stockings in addition to anticoagulation is limited. For the maintenance phase of lymphoedema management, compression stockings are the most important intervention. Conclusion The beneficial value of applying compression stockings in the treatment of venous and lymphatic disease is supported by this document, with 19/25 recommendations rated as Grade 1 evidence. For recommendations rated with Grade 2 level of evidence, further studies are needed. PMID:28549402

Complexity in the Chinese stock market and its relationships with monetary policy intensity

NASA Astrophysics Data System (ADS)

Ying, Shangjun; Fan, Ying

2014-01-01

This paper introduces how to formulate the CSI300 evolving stock index using the Paasche compiling technique of weighed indexes after giving the GCA model. It studies dynamics characteristics of the Chinese stock market and its relationships with monetary policy intensity, based on the evolving stock index. It concludes by saying that it is possible to construct a dynamics equation of the Chinese stock market using three variables, and that it is useless to regular market-complexity according to changing intensity of external factors from a chaos point of view.

Fuzzy time-series based on Fibonacci sequence for stock price forecasting

NASA Astrophysics Data System (ADS)

Chen, Tai-Liang; Cheng, Ching-Hsue; Jong Teoh, Hia

2007-07-01

Time-series models have been utilized to make reasonably accurate predictions in the areas of stock price movements, academic enrollments, weather, etc. For promoting the forecasting performance of fuzzy time-series models, this paper proposes a new model, which incorporates the concept of the Fibonacci sequence, the framework of Song and Chissom's model and the weighted method of Yu's model. This paper employs a 5-year period TSMC (Taiwan Semiconductor Manufacturing Company) stock price data and a 13-year period of TAIEX (Taiwan Stock Exchange Capitalization Weighted Stock Index) stock index data as experimental datasets. By comparing our forecasting performances with Chen's (Forecasting enrollments based on fuzzy time-series. Fuzzy Sets Syst. 81 (1996) 311-319), Yu's (Weighted fuzzy time-series models for TAIEX forecasting. Physica A 349 (2004) 609-624) and Huarng's (The application of neural networks to forecast fuzzy time series. Physica A 336 (2006) 481-491) models, we conclude that the proposed model surpasses in accuracy these conventional fuzzy time-series models.

Modeling and Computing of Stock Index Forecasting Based on Neural Network and Markov Chain

PubMed Central

Dai, Yonghui; Han, Dongmei; Dai, Weihui

2014-01-01

The stock index reflects the fluctuation of the stock market. For a long time, there have been a lot of researches on the forecast of stock index. However, the traditional method is limited to achieving an ideal precision in the dynamic market due to the influences of many factors such as the economic situation, policy changes, and emergency events. Therefore, the approach based on adaptive modeling and conditional probability transfer causes the new attention of researchers. This paper presents a new forecast method by the combination of improved back-propagation (BP) neural network and Markov chain, as well as its modeling and computing technology. This method includes initial forecasting by improved BP neural network, division of Markov state region, computing of the state transition probability matrix, and the prediction adjustment. Results of the empirical study show that this method can achieve high accuracy in the stock index prediction, and it could provide a good reference for the investment in stock market. PMID:24782659

Modeling and optimization of the multiobjective stochastic joint replenishment and delivery problem under supply chain environment.

PubMed

Wang, Lin; Qu, Hui; Liu, Shan; Dun, Cai-xia

2013-01-01

As a practical inventory and transportation problem, it is important to synthesize several objectives for the joint replenishment and delivery (JRD) decision. In this paper, a new multiobjective stochastic JRD (MSJRD) of the one-warehouse and n-retailer systems considering the balance of service level and total cost simultaneously is proposed. The goal of this problem is to decide the reasonable replenishment interval, safety stock factor, and traveling routing. Secondly, two approaches are designed to handle this complex multi-objective optimization problem. Linear programming (LP) approach converts the multi-objective to single objective, while a multi-objective evolution algorithm (MOEA) solves a multi-objective problem directly. Thirdly, three intelligent optimization algorithms, differential evolution algorithm (DE), hybrid DE (HDE), and genetic algorithm (GA), are utilized in LP-based and MOEA-based approaches. Results of the MSJRD with LP-based and MOEA-based approaches are compared by a contrastive numerical example. To analyses the nondominated solution of MOEA, a metric is also used to measure the distribution of the last generation solution. Results show that HDE outperforms DE and GA whenever LP or MOEA is adopted.

Modeling and Optimization of the Multiobjective Stochastic Joint Replenishment and Delivery Problem under Supply Chain Environment

PubMed Central

Dun, Cai-xia

2013-01-01

As a practical inventory and transportation problem, it is important to synthesize several objectives for the joint replenishment and delivery (JRD) decision. In this paper, a new multiobjective stochastic JRD (MSJRD) of the one-warehouse and n-retailer systems considering the balance of service level and total cost simultaneously is proposed. The goal of this problem is to decide the reasonable replenishment interval, safety stock factor, and traveling routing. Secondly, two approaches are designed to handle this complex multi-objective optimization problem. Linear programming (LP) approach converts the multi-objective to single objective, while a multi-objective evolution algorithm (MOEA) solves a multi-objective problem directly. Thirdly, three intelligent optimization algorithms, differential evolution algorithm (DE), hybrid DE (HDE), and genetic algorithm (GA), are utilized in LP-based and MOEA-based approaches. Results of the MSJRD with LP-based and MOEA-based approaches are compared by a contrastive numerical example. To analyses the nondominated solution of MOEA, a metric is also used to measure the distribution of the last generation solution. Results show that HDE outperforms DE and GA whenever LP or MOEA is adopted. PMID:24302880

Nosocomial outbreak of Pseudomonas aeruginosa endophthalmitis.

PubMed

Mateos, I; Valencia, R; Torres, M J; Cantos, A; Conde, M; Aznar, J

2006-11-01

We describe an outbreak of nosocomial endophthalmitis due to a common source, which was determined to be trypan blue solution prepared in the hospital's pharmacy service. We assume that viable bacteria probably gained access to the trypan blue stock solution during cooling after autoclaving. The temporal cluster of Pseudomonas aeruginosa endophthalmitis was readily perceived on the basis of clinical and microbiological findings, and an exogenous source of contamination was unequivocally identified by means of DNA fingerprinting.

Mechanisms and Kinetics of Catalytic Reactions

DTIC Science & Technology

1990-08-01

unsuccessful for most cases . S4L SURJECT TERMS 15. NUMBER OF PAGS i),Microemulsion media .JLuminescence quenching 7- Catalysts . 113 _ inetics Physical...determine N, and the ultraviolet irradiation of IBA. The syntheses of 4- alkyl -2-iodoso- benzoate catalysts and of donor molecules are diagrammed. A list of...each reaction . Kinetics solutions were prepared in the following manner. An aliquot of a stock concentrated solution of catalyst in AQ was added to 5

The predictive power of singular value decomposition entropy for stock market dynamics

NASA Astrophysics Data System (ADS)

Caraiani, Petre

2014-01-01

We use a correlation-based approach to analyze financial data from the US stock market, both daily and monthly observations from the Dow Jones. We compute the entropy based on the singular value decomposition of the correlation matrix for the components of the Dow Jones Industrial Index. Based on a moving window, we derive time varying measures of entropy for both daily and monthly data. We find that the entropy has a predictive ability with respect to stock market dynamics as indicated by the Granger causality tests.

Measuring multifractality of stock price fluctuation using multifractal detrended fluctuation analysis

NASA Astrophysics Data System (ADS)

Yuan, Ying; Zhuang, Xin-tian; Jin, Xiu

2009-06-01

Analyzing the Shanghai stock price index daily returns using MF-DFA method, it is found that there are two different types of sources for multifractality in time series, namely, fat-tailed probability distributions and non-linear temporal correlations. Based on that, a sliding window of 240 frequency data in 5 trading days was used to study stock price index fluctuation. It is found that when the stock price index fluctuates sharply, a strong variability is clearly characterized by the generalized Hurst exponents h(q). Therefore, two measures, Δh and σ, based on generalized Hurst exponents were proposed to compare financial risks before and after Price Limits and Reform of Non-tradable Shares. The empirical results verify the validity of the measures, and this has led to a better understanding of complex stock markets.

Comparison of spatial association approaches for landscape mapping of soil organic carbon stocks

NASA Astrophysics Data System (ADS)

Miller, B. A.; Koszinski, S.; Wehrhan, M.; Sommer, M.

2015-03-01

The distribution of soil organic carbon (SOC) can be variable at small analysis scales, but consideration of its role in regional and global issues demands the mapping of large extents. There are many different strategies for mapping SOC, among which is to model the variables needed to calculate the SOC stock indirectly or to model the SOC stock directly. The purpose of this research is to compare direct and indirect approaches to mapping SOC stocks from rule-based, multiple linear regression models applied at the landscape scale via spatial association. The final products for both strategies are high-resolution maps of SOC stocks (kg m-2), covering an area of 122 km2, with accompanying maps of estimated error. For the direct modelling approach, the estimated error map was based on the internal error estimations from the model rules. For the indirect approach, the estimated error map was produced by spatially combining the error estimates of component models via standard error propagation equations. We compared these two strategies for mapping SOC stocks on the basis of the qualities of the resulting maps as well as the magnitude and distribution of the estimated error. The direct approach produced a map with less spatial variation than the map produced by the indirect approach. The increased spatial variation represented by the indirect approach improved R2 values for the topsoil and subsoil stocks. Although the indirect approach had a lower mean estimated error for the topsoil stock, the mean estimated error for the total SOC stock (topsoil + subsoil) was lower for the direct approach. For these reasons, we recommend the direct approach to modelling SOC stocks be considered a more conservative estimate of the SOC stocks' spatial distribution.

Comparison of spatial association approaches for landscape mapping of soil organic carbon stocks

NASA Astrophysics Data System (ADS)

Miller, B. A.; Koszinski, S.; Wehrhan, M.; Sommer, M.

2014-11-01

The distribution of soil organic carbon (SOC) can be variable at small analysis scales, but consideration of its role in regional and global issues demands the mapping of large extents. There are many different strategies for mapping SOC, among which are to model the variables needed to calculate the SOC stock indirectly or to model the SOC stock directly. The purpose of this research is to compare direct and indirect approaches to mapping SOC stocks from rule-based, multiple linear regression models applied at the landscape scale via spatial association. The final products for both strategies are high-resolution maps of SOC stocks (kg m-2), covering an area of 122 km2, with accompanying maps of estimated error. For the direct modelling approach, the estimated error map was based on the internal error estimations from the model rules. For the indirect approach, the estimated error map was produced by spatially combining the error estimates of component models via standard error propagation equations. We compared these two strategies for mapping SOC stocks on the basis of the qualities of the resulting maps as well as the magnitude and distribution of the estimated error. The direct approach produced a map with less spatial variation than the map produced by the indirect approach. The increased spatial variation represented by the indirect approach improved R2 values for the topsoil and subsoil stocks. Although the indirect approach had a lower mean estimated error for the topsoil stock, the mean estimated error for the total SOC stock (topsoil + subsoil) was lower for the direct approach. For these reasons, we recommend the direct approach to modelling SOC stocks be considered a more conservative estimate of the SOC stocks' spatial distribution.

Macro Learning on a Micro Scale. Link Biology and Chemistry.

ERIC Educational Resources Information Center

Falk, Peter M.

1990-01-01

Described are several laboratory investigations that may be used to introduce biochemistry. Topics covered include carbohydrates, lipids, proteins, and metabolism. Reactions, stock solution formulas, and procedures are listed. Emphasized are individualizing work, designing alternative investigations, solving problems, and drawing conclusions. (KR)

A semiparametric graphical modelling approach for large-scale equity selection

PubMed Central

Liu, Han; Mulvey, John; Zhao, Tianqi

2016-01-01

We propose a new stock selection strategy that exploits rebalancing returns and improves portfolio performance. To effectively harvest rebalancing gains, we apply ideas from elliptical-copula graphical modelling and stability inference to select stocks that are as independent as possible. The proposed elliptical-copula graphical model has a latent Gaussian representation; its structure can be effectively inferred using the regularized rank-based estimators. The resulting algorithm is computationally efficient and scales to large data-sets. To show the efficacy of the proposed method, we apply it to conduct equity selection based on a 16-year health care stock data-set and a large 34-year stock data-set. Empirical tests show that the proposed method is superior to alternative strategies including a principal component analysis-based approach and the classical Markowitz strategy based on the traditional buy-and-hold assumption. PMID:28316507

Quantum Brownian motion model for the stock market

NASA Astrophysics Data System (ADS)

Meng, Xiangyi; Zhang, Jian-Wei; Guo, Hong

2016-06-01

It is believed by the majority today that the efficient market hypothesis is imperfect because of market irrationality. Using the physical concepts and mathematical structures of quantum mechanics, we construct an econophysical framework for the stock market, based on which we analogously map massive numbers of single stocks into a reservoir consisting of many quantum harmonic oscillators and their stock index into a typical quantum open system-a quantum Brownian particle. In particular, the irrationality of stock transactions is quantitatively considered as the Planck constant within Heisenberg's uncertainty relationship of quantum mechanics in an analogous manner. We analyze real stock data of Shanghai Stock Exchange of China and investigate fat-tail phenomena and non-Markovian behaviors of the stock index with the assistance of the quantum Brownian motion model, thereby interpreting and studying the limitations of the classical Brownian motion model for the efficient market hypothesis from a new perspective of quantum open system dynamics.

Genetic diversity analysis in Malaysian giant prawns using expressed sequence tag microsatellite markers for stock improvement program.

PubMed

Atin, K H; Christianus, A; Fatin, N; Lutas, A C; Shabanimofrad, M; Subha, B

2017-08-17

The Malaysian giant prawn is among the most commonly cultured species of the genus Macrobrachium. Stocks of giant prawns from four rivers in Peninsular Malaysia have been used for aquaculture over the past 25 years, which has led to repeated harvesting, restocking, and transplantation between rivers. Consequently, a stock improvement program is now important to avoid the depletion of wild stocks and the loss of genetic diversity. However, the success of such an improvement program depends on our knowledge of the genetic variation of these base populations. The aim of the current study was to estimate genetic variation and differentiation of these riverine sources using novel expressed sequence tag-microsatellite (EST-SSR) markers, which not only are informative on genetic diversity but also provide information on immune and metabolic traits. Our findings indicated that the tested stocks have inbreeding depression due to a significant deficiency in heterozygotes, and F IS was estimated as 0.15538 to 0.31938. An F-statistics analysis suggested that the stocks are composed of one large panmictic population. Among the four locations, stocks from Johor, in the southern region of the peninsular, showed higher allelic and genetic diversity than the other stocks. To overcome inbreeding problems, the Johor population could be used as a base population in a stock improvement program by crossing to the other populations. The study demonstrated that EST-SSR markers can be incorporated in future marker assisted breeding to aid the proper management of the stocks by breeders and stakeholders in Malaysia.

Modeling of the Climax Stock and Related Plutons Based on the Inversion of Magnetic Data, Southwest Nevada

USGS Publications Warehouse

Phelps, Geoffrey A.; Jachens, Robert C.; Moring, Barry C.; Roberts, Carter W.

2004-01-01

Two models of the Climax and Gold Meadows stocks were generated using a new method of magnetic inversion modeling based on the pseudogravity anomaly. The first model examined the shape of the two stocks and their connection at depth, concluding that the stocks are connected -4000 m below the ground surface. The second model re-examined the shape and depth of the Climax stock using a two-layer model and new magnetic data collected from drill hole ER-8-1. Existing and new magnetic data support a model of a zoned pluton with increasing magnetization with depth. A model of a zoned pluton was generated and adjusted to fit the magnetic anomaly measured over the stock. The model has an upper layer that extends to a depth of 1,700 m and is magnetized at 0.06 A/m, and a lower layer that extends to a maximum depth of 7,600 m and is magnetized at 0.17 A/m. The model matches the outcrop data, but was unable to match the intercept of the Climax stock from drill hole ER-8-1.

Degree-Strength Correlation Reveals Anomalous Trading Behavior

PubMed Central

Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi; Wang, Zhao-Yang

2012-01-01

Manipulation is an important issue for both developed and emerging stock markets. Many efforts have been made to detect manipulation in stock markets. However, it is still an open problem to identify the fraudulent traders, especially when they collude with each other. In this paper, we focus on the problem of identifying the anomalous traders using the transaction data of eight manipulated stocks and forty-four non-manipulated stocks during a one-year period. By analyzing the trading networks of stocks, we find that the trading networks of manipulated stocks exhibit significantly higher degree-strength correlation than the trading networks of non-manipulated stocks and the randomized trading networks. We further propose a method to detect anomalous traders of manipulated stocks based on statistical significance analysis of degree-strength correlation. Experimental results demonstrate that our method is effective at distinguishing the manipulated stocks from non-manipulated ones. Our method outperforms the traditional weight-threshold method at identifying the anomalous traders in manipulated stocks. More importantly, our method is difficult to be fooled by colluded traders. PMID:23082114

U.S. Coast Guard -- Locally Based, Nationally Deployed, Globally Connected; Internationally Prepared

DTIC Science & Technology

2012-05-17

consequences. The National Marine Fisheries determined that 46 U.S. fish stocks are overfished . 120 Additionally, the Food and Agriculture division of the...limits with the intent to end and prevent overfishing . 124 As the regulations increase, the need for at-sea enforcement will increase accordingly...to be overfished increased from 46 stocks to 48 stocks between 2009 and 2010. Additionally the number of stocks determined to be subject to

26 CFR 1.1502-28 - Consolidated section 108.

Code of Federal Regulations, 2010 CFR

2010-04-01

... income that is treated as excluded COD income is determined based on the assets (including stock and... this section. Basis of subsidiary stock, however, shall not be reduced below zero pursuant to paragraph (a)(2) of this section (including when subsidiary stock is treated as depreciable property under...

Static and dynamic factors in an information-based multi-asset artificial stock market

NASA Astrophysics Data System (ADS)

Ponta, Linda; Pastore, Stefano; Cincotti, Silvano

2018-02-01

An information-based multi-asset artificial stock market characterized by different types of stocks and populated by heterogeneous agents is presented. In the market, agents trade risky assets in exchange for cash. Beside the amount of cash and of stocks owned, each agent is characterized by sentiments and agents share their sentiments by means of interactions that are determined by sparsely connected networks. A central market maker (clearing house mechanism) determines the price processes for each stock at the intersection of the demand and the supply curves. Single stock price processes exhibit volatility clustering and fat-tailed distribution of returns whereas multivariate price process exhibits both static and dynamic stylized facts, i.e., the presence of static factors and common trends. Static factors are studied making reference to the cross-correlation of returns of different stocks. The common trends are investigated considering the variance-covariance matrix of prices. Results point out that the probability distribution of eigenvalues of the cross-correlation matrix of returns shows the presence of sectors, similar to those observed on real empirical data. As regarding the dynamic factors, the variance-covariance matrix of prices point out a limited number of assets prices series that are independent integrated processes, in close agreement with the empirical evidence of asset price time series of real stock markets. These results remarks the crucial dependence of statistical properties of multi-assets stock market on the agents' interaction structure.

Weibo sentiments and stock return: A time-frequency view

PubMed Central

Liu, Zhixin; Zhao, Jichang; Su, Chiwei

2017-01-01

This study provides new insights into the relationships between social media sentiments and the stock market in China. Based on machine learning, we classify microblogs posted on Sina Weibo, a Twitter’s variant in China into five detailed sentiments of anger, disgust, fear, joy, and sadness. Using wavelet analysis, we find close positive linkages between sentiments and the stock return, which have both frequency and time-varying features. Five detailed sentiments are positively related to the stock return for certain periods, particularly since October 2014 at medium to high frequencies of less than ten trading days, when the stock return is undergoing significant fluctuations. Sadness appears to have a closer relationship with the stock return than the other four sentiments. As to the lead-lag relationships, the stock return causes Weibo sentiments rather than reverse for most of the periods with significant linkages. Compared with polarity sentiments (negative vs. positive), detailed sentiments provide more information regarding relationships between Weibo sentiments and the stock market. The stock market exerts positive effects on bullishness and agreement of microblogs. Meanwhile, agreement leads the stock return in-phase at the frequency of approximately 40 trading days, indicating that less disagreement improves certainty about the stock market. PMID:28672026

Combinatorial Algorithms for Portfolio Optimization Problems - Case of Risk Moderate Investor

NASA Astrophysics Data System (ADS)

Juarna, A.

2017-03-01

Portfolio optimization problem is a problem of finding optimal combination of n stocks from N ≥ n available stocks that gives maximal aggregate return and minimal aggregate risk. In this paper given N = 43 from the IDX (Indonesia Stock Exchange) group of the 45 most-traded stocks, known as the LQ45, with p = 24 data of monthly returns for each stock, spanned over interval 2013-2014. This problem actually is a combinatorial one where its algorithm is constructed based on two considerations: risk moderate type of investor and maximum allowed correlation coefficient between every two eligible stocks. The main outputs resulted from implementation of the algorithms is a multiple curve of three portfolio’s attributes, e.g. the size, the ratio of return to risk, and the percentage of negative correlation coefficient for every two chosen stocks, as function of maximum allowed correlation coefficient between each two stocks. The output curve shows that the portfolio contains three stocks with ratio of return to risk at 14.57 if the maximum allowed correlation coefficient between every two eligible stocks is negative and contains 19 stocks with maximum allowed correlation coefficient 0.17 to get maximum ratio of return to risk at 25.48.

Weibo sentiments and stock return: A time-frequency view.

PubMed

Xu, Yingying; Liu, Zhixin; Zhao, Jichang; Su, Chiwei

2017-01-01

This study provides new insights into the relationships between social media sentiments and the stock market in China. Based on machine learning, we classify microblogs posted on Sina Weibo, a Twitter's variant in China into five detailed sentiments of anger, disgust, fear, joy, and sadness. Using wavelet analysis, we find close positive linkages between sentiments and the stock return, which have both frequency and time-varying features. Five detailed sentiments are positively related to the stock return for certain periods, particularly since October 2014 at medium to high frequencies of less than ten trading days, when the stock return is undergoing significant fluctuations. Sadness appears to have a closer relationship with the stock return than the other four sentiments. As to the lead-lag relationships, the stock return causes Weibo sentiments rather than reverse for most of the periods with significant linkages. Compared with polarity sentiments (negative vs. positive), detailed sentiments provide more information regarding relationships between Weibo sentiments and the stock market. The stock market exerts positive effects on bullishness and agreement of microblogs. Meanwhile, agreement leads the stock return in-phase at the frequency of approximately 40 trading days, indicating that less disagreement improves certainty about the stock market.

Advanced nutrient root-feeding system for conveyor-type cylindrical plant growth facilities for microgravity

NASA Astrophysics Data System (ADS)

Berkovich, Yu. A.; Krivobok, N. M.; Krivobok, A. S.; Smolyanina, S. O.

2016-02-01

A compact and reliable automatic method for plant nutrition supply is needed to monitor and control space-based plant production systems. The authors of this study have designed a nutrient root-feeding system that minimizes and regulates nutrient and water supply without loss of crop yields in a space greenhouse. The system involves an ion-exchange fibrous artificial soil (AS) BIONA-V3TM as the root-inhabited medium; a pack with slow-release fertilizer as the main source of nitrogen, phosphorus, and potassium; and a cartridge with granular mineral-rich ionite (GMRI) as a source of calcium, magnesium, sulfur, and iron. A controller equipped with an electrical conductivity meter controls the solution flow and concentration of the solution in the mixing tank at specified values. Experiments showed that the fibrous AS-stabilized pH of the substrate solution within the range of 6.0-6.6 is favorable to the majority of crops. The experimental data confirmed that this technique allowed solution preparation for crops in space greenhouses by means of pumping water through the cartridge and minimization of the AS stock onboard the space vehicle.

Can joint carbon and biodiversity management in tropical agroforestry landscapes be optimized?

PubMed

Kessler, Michael; Hertel, Dietrich; Jungkunst, Hermann F; Kluge, Jürgen; Abrahamczyk, Stefan; Bos, Merijn; Buchori, Damayanti; Gerold, Gerhard; Gradstein, S Robbert; Köhler, Stefan; Leuschner, Christoph; Moser, Gerald; Pitopang, Ramadhanil; Saleh, Shahabuddin; Schulze, Christian H; Sporn, Simone G; Steffan-Dewenter, Ingolf; Tjitrosoedirdjo, Sri S; Tscharntke, Teja

2012-01-01

Managing ecosystems for carbon storage may also benefit biodiversity conservation, but such a potential 'win-win' scenario has not yet been assessed for tropical agroforestry landscapes. We measured above- and below-ground carbon stocks as well as the species richness of four groups of plants and eight of animals on 14 representative plots in Sulawesi, Indonesia, ranging from natural rainforest to cacao agroforests that have replaced former natural forest. The conversion of natural forests with carbon stocks of 227-362 Mg C ha(-1) to agroforests with 82-211 Mg C ha(-1) showed no relationships to overall biodiversity but led to a significant loss of forest-related species richness. We conclude that the conservation of the forest-related biodiversity, and to a lesser degree of carbon stocks, mainly depends on the preservation of natural forest habitats. In the three most carbon-rich agroforestry systems, carbon stocks were about 60% of those of natural forest, suggesting that 1.6 ha of optimally managed agroforest can contribute to the conservation of carbon stocks as much as 1 ha of natural forest. However, agroforestry systems had comparatively low biodiversity, and we found no evidence for a tight link between carbon storage and biodiversity. Yet, potential win-win agroforestry management solutions include combining high shade-tree quality which favours biodiversity with cacao-yield adapted shade levels.

Can Joint Carbon and Biodiversity Management in Tropical Agroforestry Landscapes Be Optimized?

PubMed Central

Kessler, Michael; Hertel, Dietrich; Jungkunst, Hermann F.; Kluge, Jürgen; Abrahamczyk, Stefan; Bos, Merijn; Buchori, Damayanti; Gerold, Gerhard; Gradstein, S. Robbert; Köhler, Stefan; Leuschner, Christoph; Moser, Gerald; Pitopang, Ramadhanil; Saleh, Shahabuddin; Schulze, Christian H.; Sporn, Simone G.; Steffan-Dewenter, Ingolf; Tjitrosoedirdjo, Sri S.; Tscharntke, Teja

2012-01-01

Managing ecosystems for carbon storage may also benefit biodiversity conservation, but such a potential ‘win-win’ scenario has not yet been assessed for tropical agroforestry landscapes. We measured above- and below-ground carbon stocks as well as the species richness of four groups of plants and eight of animals on 14 representative plots in Sulawesi, Indonesia, ranging from natural rainforest to cacao agroforests that have replaced former natural forest. The conversion of natural forests with carbon stocks of 227–362 Mg C ha−1 to agroforests with 82–211 Mg C ha−1 showed no relationships to overall biodiversity but led to a significant loss of forest-related species richness. We conclude that the conservation of the forest-related biodiversity, and to a lesser degree of carbon stocks, mainly depends on the preservation of natural forest habitats. In the three most carbon-rich agroforestry systems, carbon stocks were about 60% of those of natural forest, suggesting that 1.6 ha of optimally managed agroforest can contribute to the conservation of carbon stocks as much as 1 ha of natural forest. However, agroforestry systems had comparatively low biodiversity, and we found no evidence for a tight link between carbon storage and biodiversity. Yet, potential win-win agroforestry management solutions include combining high shade-tree quality which favours biodiversity with cacao-yield adapted shade levels. PMID:23077569

Global socioeconomic material stocks rise 23-fold over the 20th century and require half of annual resource use

PubMed Central

Wiedenhofer, Dominik; Lauk, Christian; Haas, Willi; Tanikawa, Hiroki; Miatto, Alessio; Haberl, Helmut

2017-01-01

Human-made material stocks accumulating in buildings, infrastructure, and machinery play a crucial but underappreciated role in shaping the use of material and energy resources. Building, maintaining, and in particular operating in-use stocks of materials require raw materials and energy. Material stocks create long-term path-dependencies because of their longevity. Fostering a transition toward environmentally sustainable patterns of resource use requires a more complete understanding of stock-flow relations. Here we show that about half of all materials extracted globally by humans each year are used to build up or renew in-use stocks of materials. Based on a dynamic stock-flow model, we analyze stocks, inflows, and outflows of all materials and their relation to economic growth, energy use, and CO2 emissions from 1900 to 2010. Over this period, global material stocks increased 23-fold, reaching 792 Pg (±5%) in 2010. Despite efforts to improve recycling rates, continuous stock growth precludes closing material loops; recycling still only contributes 12% of inflows to stocks. Stocks are likely to continue to grow, driven by large infrastructure and building requirements in emerging economies. A convergence of material stocks at the level of industrial countries would lead to a fourfold increase in global stocks, and CO2 emissions exceeding climate change goals. Reducing expected future increases of material and energy demand and greenhouse gas emissions will require decoupling of services from the stocks and flows of materials through, for example, more intensive utilization of existing stocks, longer service lifetimes, and more efficient design. PMID:28167761

Network formation in a multi-asset artificial stock market

NASA Astrophysics Data System (ADS)

Wu, Songtao; He, Jianmin; Li, Shouwei; Wang, Chao

2018-04-01

A multi-asset artificial stock market is developed. In the market, stocks are assigned to a number of sectors and traded by heterogeneous investors. The mechanism of continuous double auction is employed to clear order book and form daily closed prices. Simulation results of prices at the sector level show an intra-sector similarity and inter-sector distinctiveness, and returns of individual stocks have stylized facts that are ubiquitous in the real-world stock market. We find that the market risk factor has critical impact on both network topology transition and connection formation, and that sector risk factors account for the formation of intra-sector links and sector-based local interaction. In addition, the number of community in threshold-based networks is correlated negatively and positively with the value of correlation coefficients and the ratio of intra-sector links, which are respectively determined by intensity of sector risk factors and the number of sectors.

Analyses of the structure of group correlations in Korean financial markets

NASA Astrophysics Data System (ADS)

Ko, Jeung Su; Lim, Gyuchang; Kim, Kyungsik

2012-12-01

In this paper, we construct and analyze the structure of cross-correlations in two Korean stock markets, the Korea Composite Stock Price Index (KOSPI) and the Korea Securities Dealers Automated Quotation (KOSDAQ). We investigate a remarkable agreement between the theoretical prediction and the empirical data concerning the density of eigenvalues in the KOSPI and the KOSDAQ. We estimate daily cross-correlations with respect to price fluctuations of 629 KOSPI and 650 KOSDAQ stock entities for the period from 2006 to 2010. The research for the structure of group correlations undress the market-wide effect by using the Markowitz multi-factor model and network-based approach. We find stock entities that involve the same business sectors and verify the structure of group correlations by applying a network-based approach. In particular, the KOSPI has a dense correlation besides overall group correlations for stock entities, whereas both correlations are less for the KOSDAQ than for the KOSPI.

An Ensemble of Neural Networks for Stock Trading Decision Making

NASA Astrophysics Data System (ADS)

Chang, Pei-Chann; Liu, Chen-Hao; Fan, Chin-Yuan; Lin, Jun-Lin; Lai, Chih-Ming

Stock turning signals detection are very interesting subject arising in numerous financial and economic planning problems. In this paper, Ensemble Neural Network system with Intelligent Piecewise Linear Representation for stock turning points detection is presented. The Intelligent piecewise linear representation method is able to generate numerous stocks turning signals from the historic data base, then Ensemble Neural Network system will be applied to train the pattern and retrieve similar stock price patterns from historic data for training. These turning signals represent short-term and long-term trading signals for selling or buying stocks from the market which are applied to forecast the future turning points from the set of test data. Experimental results demonstrate that the hybrid system can make a significant and constant amount of profit when compared with other approaches using stock data available in the market.

Market impact and structure dynamics of the Chinese stock market based on partial correlation analysis

NASA Astrophysics Data System (ADS)

Li, Xing; Qiu, Tian; Chen, Guang; Zhong, Li-Xin; Wu, Xiao-Run

2017-04-01

Partial correlation analysis is employed to study the market impact on the Chinese stock market from both the native and external markets. Whereas the native market index is observed to have a great impact on the market correlations for both the Shanghai and Shenzhen stock markets, some external stock indices of the United States, European and Asian stock markets show a slight influence on the Chinese market. The individual stock can be affected by different economic sectors, but the dominant influence is from the sector the stock itself belongs to or closely related to, and the finance and insurance sector shows a weaker correlation with other economic sectors. Moreover, the market structure similarity exhibits a negative correlation with the price return in most time, and the structure similarity decays with the time interval.

Evaluation of total alloplastic temporo-mandibular joint replacement with two different types of prostheses: A three-year prospective study.

PubMed

Gonzalez-Perez, L-M; Gonzalez-Perez-Somarriba, B; Centeno, G; Vallellano, C; Montes-Carmona, J-F

2016-11-01

Temporo-Mandibular Joint (TMJ) replacement has been used clinically for years. The objective of this study was to evaluate outcomes achieved in patients with two different categories of TMJ prostheses. All patients who had a TMJ replacement (TMJR) implanted during the study period from 2006 through 2012 were included in this 3-year prospective study. All procedures were performed using the Biomet Microfixation TMJ Replacement System, and all involved replacing both the skull base component (glenoid fossa) and the mandibular condyle. Fifty-seven patients (38 females and 19 males), involving 75 TMJs with severe disease requiring reconstruction (39 unilateral, 18 bilateral) were operated on consecutively, and 68 stock prostheses and 7 custom-made prostheses were implanted. The mean age at surgery was 52.6±11.5 years in the stock group and 51.8±11.7 years in the custom-made group. In the stock group, after three years of TMJR, results showed a reduction in pain intensity from 6.4±1.4 to 1.6±1.2 (p<0.001), and an improvement in jaw opening from 2.7±0.9 cm to 4.2±0.7 cm (p<0.001). In the custom-made group, after three years of TMJR, results showed a reduction in pain intensity from 6.0±1.6 to 2.2±0.4 (p<0.001), and an improvement in jaw opening from 1.5±0.5 cm to 4.3±0.6 cm (p<0.001). No statistically significant differences between two groups were detected. The results of this three-year prospective study support the surgical placement of TMJ prostheses (stock prosthetic, and custom-made systems), and show that the approach is efficacious and safe, reduces pain, and improves maximum mouth opening movement, with few complications. As such, TMJR represents a viable technique and a stable long-term solution for cranio-mandibular reconstruction in patients with irreversible end-stage TMJ disease. Comparing stock and custom-made groups, no statistically significant differences were detected with respect to pain intensity reduction and maximum mouth opening improvement.

75 FR 34213 - Solicitation of Applications and Notice of Funding Availability for the FRA Railroad System...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-06-16

... of Bio-based Technologies (Lubricants) that can be used in locomotives, rolling stock and other rail... of the Use of Bio-based Technologies (Lubricants) that can be used in locomotives, rolling stock and...

Emergence of Opinion Leaders Based on Agent Model and Its Impact to Stock Prices

NASA Astrophysics Data System (ADS)

Misawa, Tadanobu; Suzuki, Kyoko; Okano, Yoshitaka; Shimokawa, Tetsuya

Recently, we can be able to get a lot of information easily because information technology has been developed. Therefore, it is thought that the impact to a society by communication of information such as word of mouth has been growing. In this paper, we propose a model of emergence of opinion leader based on word of mouth in artificial stock market. Moreover, the process of emergence of opinion leader and impact to stock prices by opinion leader are verified by simulation.

77 FR 72828 - Pacific Fishery Management Council; Public Meeting/Online Webinar

Federal Register 2010, 2011, 2012, 2013, 2014

2012-12-06

... alternatives for determining the status of groundfish stocks based on results of data-moderate assessments. The online Groundfish Status Determination Criteria for Data-Moderate Stocks webinar is open to the public... Determination Criteria for Data-Moderate Stocks webinar will commence at 9 a.m. PST, Friday, December 21, 2012...

78 FR 59740 - Self-Regulatory Organizations; the NASDAQ Stock Market LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-09-27

...-Regulatory Organizations; the NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of... is hereby given that on September 9, 2013, The NASDAQ Stock Market LLC (``NASDAQ'' or the ``Exchange.../or Professional liquidity based on increasing percentages of total industry customer equity and ETF...

26 CFR 1.1502-36 - Unified loss rule.

Code of Federal Regulations, 2010 CFR

2010-04-01

.... If stock of more than one subsidiary is transferred in the transaction, the election may be made with...) INCOME TAXES Basis, Stock Ownership, and Earnings and Profits Rules § 1.1502-36 Unified loss rule. (a) In general—(1) Scope. This section provides rules for adjusting members' bases in stock of a subsidiary (S...

The Role of Self-Efficacy, Goal, and Affect in Dynamic Motivational Self-Regulation

ERIC Educational Resources Information Center

Seo, Myeong-gu; Ilies, Remus

2009-01-01

In this paper, we examined the within-person relationship between self-efficacy and performance in an Internet-based stock investment simulation in which participants engaged in a series of stock trading activities trying to achieve performance goals in response to dynamic task environments (performance feedback and stock market movements).…

STOCK Market Differences in Correlation-Based Weighted Network

NASA Astrophysics Data System (ADS)

Youn, Janghyuk; Lee, Junghoon; Chang, Woojin

We examined the sector dynamics of Korean stock market in relation to the market volatility. The daily price data of 360 stocks for 5019 trading days (from January, 1990 to August, 2008) in Korean stock market are used. We performed the weighted network analysis and employed four measures: the average, the variance, the intensity, and the coherence of network weights (absolute values of stock return correlations) to investigate the network structure of Korean stock market. We performed regression analysis using the four measures in the seven major industry sectors and the market (seven sectors combined). We found that the average, the intensity, and the coherence of sector (subnetwork) weights increase as market becomes volatile. Except for the "Financials" sector, the variance of sector weights also grows as market volatility increases. Based on the four measures, we can categorize "Financials," "Information Technology" and "Industrials" sectors into one group, and "Materials" and "Consumer Discretionary" sectors into another group. We investigated the distributions of intrasector and intersector weights for each sector and found the differences in "Financials" sector are most distinct.

Using the Stock Market to Teach Physics

NASA Astrophysics Data System (ADS)

Faux, David A.; Hearn, Stephen

2004-11-01

Students are interested in money. Personal finance is an important issue for most students, especially as they move into university education and take a greater control of their own finances. Many are also interested in stock markets and their ability to allow someone to make, and lose, large sums of money, with their interest fueled by the boom in technology-based stocks of 2000/2001 followed by their subsequent dramatic collapse and the publicizing of so-called "rogue-traders." There is also a much greater ownership of stocks by families following public offerings, stock-based savings products, and the ability to trade stocks online. Consequently, there has been a steady growth of finance and finance-related courses available within degree programs in response to the student demand, with many students motivated by the huge salaries commanded by those with a successful career in the financial sector. We report here details of a joint project between Charterhouse School and the University of Surrey designed to exploit the excitement of finance to teach elements of the high school (age 16-18) curriculum through modeling and simulation.

Iodine addition using triiodide solutions

NASA Technical Reports Server (NTRS)

Rutz, Jeffrey A.; Muckle, Susan V.; Sauer, Richard L.

1992-01-01

The study develops: a triiodide solution for use in preparing ground service equipment (GSE) water for Shuttle support, an iodine dissolution method that is reliable and requires minimal time and effort to prepare, and an iodine dissolution agent with a minimal concentration of sodium salt. Sodium iodide and hydriodic acid were both found to dissolve iodine to attain the desired GSE iodine concentrations of 7.5 +/- 2.5 mg/L and 25 +/- 5 mg/L. The 1.75:1 and 2:1 sodium iodide solutions produced higher iodine recoveries than the 1.2:1 hydriodic acid solution. A two-hour preparation time is required for the three sodium iodide solutions. The 1.2:1 hydriodic acid solution can be prepared in less than 5 min. Two sodium iodide stock solutions (2.5:1 and 2:1) were found to dissolve iodine without undergoing precipitation.

Biological Degradation of Tetrachloroethylene in Methanogenic Conditions

DTIC Science & Technology

1994-06-01

stock of neat PCE was not purged with N2-C0 2. Alcohol oxidase (from Pichia pasrori, phosphate-buffered 60 percent sucrose solution), peroxidase (Type...dechlorination of tetrachlorocthene in anaerobic aquifer microcosms by addition of short-chain organic acids or alcohols ," Appl. Environ. Microbiol. (58

Hot money and China's stock market volatility: Further evidence using the GARCH-MIDAS model

NASA Astrophysics Data System (ADS)

Wei, Yu; Yu, Qianwen; Liu, Jing; Cao, Yang

2018-02-01

This paper investigates the influence of hot money on the return and volatility of the Chinese stock market using a nonlinear Granger causality test and a new GARCH-class model based on mixed data sampling regression (GARCH-MIDAS). The empirical results suggest that no linear or nonlinear causality exists between the growth rate of hot money and the Chinese stock market return, implying that the Chinese stock market is not driven by hot money and vice versa. However, hot money has a significant positive impact on the long-term volatility of the Chinese stock market. Furthermore, the dependence between the long-term volatility caused by hot money and the total volatility of the Chinese stock market is time-variant, indicating that huge volatilities in the stock market are not always triggered by international speculation capital flow and that Chinese authorities should further focus on more systemic reforms in the trading rules and on effectively regulating the stock market.

Confidence and self-attribution bias in an artificial stock market.

PubMed

Bertella, Mario A; Pires, Felipe R; Rego, Henio H A; Silva, Jonathas N; Vodenska, Irena; Stanley, H Eugene

2017-01-01

Using an agent-based model we examine the dynamics of stock price fluctuations and their rates of return in an artificial financial market composed of fundamentalist and chartist agents with and without confidence. We find that chartist agents who are confident generate higher price and rate of return volatilities than those who are not. We also find that kurtosis and skewness are lower in our simulation study of agents who are not confident. We show that the stock price and confidence index-both generated by our model-are cointegrated and that stock price affects confidence index but confidence index does not affect stock price. We next compare the results of our model with the S&P 500 index and its respective stock market confidence index using cointegration and Granger tests. As in our model, we find that stock prices drive their respective confidence indices, but that the opposite relationship, i.e., the assumption that confidence indices drive stock prices, is not significant.

Stock or stroke? Stock market movement and stroke incidence in Taiwan.

PubMed

Chen, Chun-Chih; Chen, Chin-Shyan; Liu, Tsai-Ching; Lin, Ying-Tzu

2012-12-01

This paper investigates the impact of stock market movement on incidences of stroke utilizing population-based aggregate data in Taiwan. Using the daily data from the Taiwan Stock Exchange Capitalization Weighted Stock Index and from the National Health Insurance Research Database during 2001/1/1-2007/12/31, which consist of 2556 observations, we examine the effects of stock market on stroke incidence - the level effect and the daily change effects. In general, we find that both a low stock index level and a daily fall in the stock index are associated with greater incidences of stroke. We further partition the data on sex and age. The level effect is found to be significant for either gender, in the 45-64 and 65 ≥ age groups. In addition, two daily change effects are found to be significant for males and the elderly. Although stockholdings can increase wealth, they can also increase stroke incidence, thereby representing a cost to health. Copyright © 2012 Elsevier Ltd. All rights reserved.

Confidence and self-attribution bias in an artificial stock market

PubMed Central

Bertella, Mario A.; Pires, Felipe R.; Rego, Henio H. A.; Vodenska, Irena; Stanley, H. Eugene

2017-01-01

Using an agent-based model we examine the dynamics of stock price fluctuations and their rates of return in an artificial financial market composed of fundamentalist and chartist agents with and without confidence. We find that chartist agents who are confident generate higher price and rate of return volatilities than those who are not. We also find that kurtosis and skewness are lower in our simulation study of agents who are not confident. We show that the stock price and confidence index—both generated by our model—are cointegrated and that stock price affects confidence index but confidence index does not affect stock price. We next compare the results of our model with the S&P 500 index and its respective stock market confidence index using cointegration and Granger tests. As in our model, we find that stock prices drive their respective confidence indices, but that the opposite relationship, i.e., the assumption that confidence indices drive stock prices, is not significant. PMID:28231255

Cross-sectional test of the Fama-French three-factor model: Evidence from Bangladesh stock market

NASA Astrophysics Data System (ADS)

Hasan, Md. Zobaer; Kamil, Anton Abdulbasah

2014-09-01

Stock market is an important part of a country's economy. It supports the country's economic development and progress by encouraging the efficiency and profitability of firms. This research was designed to examine the risk-return association of companies in the Dhaka Stock Exchange (DSE) market of Bangladesh by using the Fama-French three-factor model structure. The model is based on three factors, which are stock beta, SMB (difference in returns of the portfolio with small market capitalisation minus that with big market capitalisation) and HML (difference in returns of the portfolio with high book-to-market ratio minus that with low book-to-market ratio). This study focused on the DSE market as it is one of the frontier emerging stock markets of South Asia. For this study, monthly stock returns from 71 non-financial companies were used for the period of January 2002 to December 2011. DSI Index was used as a proxy for the market portfolio and Bangladesh government 3-Month T-bill rate was used as the proxy for the risk-free asset. It was found that large capital stocks outperform small capital stocks and stocks with lower book-to-market ratios outperform stocks with higher book-to-market ratios in the context of Bangladesh stock market.

The time-varying correlation between policy uncertainty and stock returns: Evidence from China

NASA Astrophysics Data System (ADS)

Xiong, Xiong; Bian, Yuxiang; Shen, Dehua

2018-06-01

In this paper, we use a new policy uncertainty index to investigate the time-varying correlation between economic policy uncertainty (EPU) and Chinese stock market returns. The correlation is examined in the period from January 1995 to December 2016. We show that absolute changes in EPU have a significant impact on stock market returns. Specifically, empirical results based on the DCC-GARCH model reveal that the correlation between EPU and stock returns has large fluctuations, especially during a financial crisis; in addition, the impact of EPU on the Shanghai stock market is greater than on the Shenzhen stock market. Robustness results reveal that the impact of EPU on state-owned enterprises is larger than on non-state enterprises. All of these results highlight the important role of EPU in the Chinese stock market, and shed light on such issues for future research.

Multidimensional stock network analysis: An Escoufier's RV coefficient approach

NASA Astrophysics Data System (ADS)

Lee, Gan Siew; Djauhari, Maman A.

2013-09-01

The current practice of stocks network analysis is based on the assumption that the time series of closed stock price could represent the behaviour of the each stock. This assumption leads to consider minimal spanning tree (MST) and sub-dominant ultrametric (SDU) as an indispensible tool to filter the economic information contained in the network. Recently, there is an attempt where researchers represent stock not only as a univariate time series of closed price but as a bivariate time series of closed price and volume. In this case, they developed the so-called multidimensional MST to filter the important economic information. However, in this paper, we show that their approach is only applicable for that bivariate time series only. This leads us to introduce a new methodology to construct MST where each stock is represented by a multivariate time series. An example of Malaysian stock exchange will be presented and discussed to illustrate the advantages of the method.

Initial value sensitivity of the Chinese stock market and its relationship with the investment psychology

NASA Astrophysics Data System (ADS)

Ying, Shangjun; Li, Xiaojun; Zhong, Xiuqin

2015-04-01

This paper discusses the initial value sensitivity (IVS) of Chinese stock market, including the single stock market and the Chinese A-share stock market, with respect to real markets and evolving models. The aim is to explore the relationship between IVS of the Chinese A-share stock market and the investment psychology based on the evolving model of genetic cellular automaton (GCA). We find: (1) The Chinese stock market is sensitively dependent on the initial conditions. (2) The GCA model provides a considerable reliability in complexity simulation (e.g. the IVS). (3) The IVS of stock market is positively correlated with the imitation probability when the intensity of the imitation psychology reaches a certain threshold. The paper suggests that the government should seek to keep the imitation psychology under a certain level, otherwise it may induce severe fluctuation to the market.

DOE Office of Scientific and Technical Information (OSTI.GOV)

Pauli, Adam T; Robertson, Raymond E; Branthaver, Jan F

A system for determining parameters and compatibility of a substance such as an asphalt or other petroleum substance uses titration to highly accurately determine one or more flocculation occurrences and is especially applicable to the determination or use of Heithaus parameters and optimal mixing of various asphalt stocks. In a preferred embodiment, automated titration in an oxygen gas exclusive system and further using spectrophotometric analysis (2-8) of solution turbidity is presented. A reversible titration technique enabling in-situ titration measurement of various solution concentrations is also presented.

Reflexive Audiovisual Methodology: The Emergence of "Minority Practices" among Pluriactive Stock Farmers

ERIC Educational Resources Information Center

Stassart, Pierre Marie; Mathieu, Valerie; Melard, Francois

2011-01-01

This paper proposes a new way for sociology, through both methodology and theory, to understand the reality of social groups and their "minority practices." It is based on an experiment that concerns a very specific category of agriculturalists called "pluriactive" stock farmers. These stock farmers, who engage in raising livestock part-time…

26 CFR 1.358-2 - Allocation of basis among nonrecognition property.

Code of Federal Regulations, 2010 CFR

2010-04-01

... respect of shares of stock or securities that were acquired on the same date and at the same price. To the... different prices, the share of stock or security received shall be divided into segments based on the... different prices exchanges such shares of stock or securities under the terms of section 354, 355, or 356...

75 FR 39078 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-07-07

... index? If there are trading pauses in an ETF but not in the stocks that underlie that ETF, what... price discovery for the ETF, the underlying stocks and other products? Are there other market-based... Change Related to Individual Stock Trading Pauses Due to Extraordinary Market Volatility June 30, 2010...

Using a model and forecasted weather to predict forage and livestock production for making stocking decisions in the coming growing season

USDA-ARS?s Scientific Manuscript database

Forecasting peak standing crop (PSC) for the coming grazing season can help ranchers make appropriate stocking decisions to reduce enterprise risks. Previously developed PSC predictors were based on short-term experimental data (<15 yr) and limited stocking rates (SR) without including the effect of...

Recurrence quantification analysis of global stock markets

NASA Astrophysics Data System (ADS)

Bastos, João A.; Caiado, Jorge

2011-04-01

This study investigates the presence of deterministic dependencies in international stock markets using recurrence plots and recurrence quantification analysis (RQA). The results are based on a large set of free float-adjusted market capitalization stock indices, covering a period of 15 years. The statistical tests suggest that the dynamics of stock prices in emerging markets is characterized by higher values of RQA measures when compared to their developed counterparts. The behavior of stock markets during critical financial events, such as the burst of the technology bubble, the Asian currency crisis, and the recent subprime mortgage crisis, is analyzed by performing RQA in sliding windows. It is shown that during these events stock markets exhibit a distinctive behavior that is characterized by temporary decreases in the fraction of recurrence points contained in diagonal and vertical structures.

Water-soluble Schiff base-actinyl complexes and their effect on the solvent extraction of f-elements

DOE PAGES

Hawkins, Cory A.; Bustillos, Christian G.; May, Iain; ...

2016-09-07

Conventional solvent extraction of selected f-element cations by bis(2-ethylhexyl)phosphoric acid (HDEHP) yields increased extraction from aqueous to organic solution along the series Np(V) < Cm(III) < Eu(III) < U(VI), with distribution ratios all within two orders of magnitude. However, in the presence of the water-soluble tetradentate Schiff base (N,N'-bis(5-sulfonatosalicylidene)-ethylenediamine or H 2salenSO 3), selective complexation of the two actinyl cations (Np(V) and U(VI)) resulted in an extraction order of Np(V) < U(VI) << Eu(III) < Cm(III). The extraction of neither Cm(III) or Eu(III) by HDEHP are significantly impacted by the presence of the aqueous phase Schiff base. Despite observed hydrolyticmore » decomposition of H 2salenSO 3 in aqueous solutions, the calculated high conditional stability constant (β 11 = 26) for the complex [UO 2(salenSO 3)] 2- demonstrates its capacity for aqueous hold-back of U(VI). UV-visible-NIR spectroscopy of solutions prepared with a Np(VI) stock and H 2salenSO 3 suggest that reduction of Np(VI) to Np(V) by the ligand was rapid, resulting in a pentavalent Np complex that was substantially retained in the aqueous phase. Lastly, results from 1H NMR of aqueous solutions of H 2salenSO 3 with U(VI) and La(III), Eu(III), and Lu(III) provides additional evidence that the ligand readily chelates U(VI), but has only weak interactions with trivalent lanthanide ions.« less

Barriers to community case management of malaria in Saraya, Senegal: training, and supply-chains.

PubMed

Blanas, Demetri A; Ndiaye, Youssoupha; Nichols, Kim; Jensen, Andrew; Siddiqui, Ammar; Hennig, Nils

2013-03-14

Health workers in sub-Saharan Africa can now diagnose and treat malaria in the field, using rapid diagnostic tests and artemisinin-based combination therapy in areas without microscopy and widespread resistance to previously effective drugs. This study evaluates communities' perceptions of a new community case management of malaria programme in the district of Saraya, south-eastern Senegal, the effectiveness of lay health worker trainings, and the availability of rapid diagnostic tests and artemisinin-based combination therapy in the field. The study employed qualitative and quantitative methods including focus groups with villagers, and pre- and post-training questionnaires with lay health workers. Communities approved of the community case management programme, but expressed concern about other general barriers to care, particularly transportation challenges. Most lay health workers acquired important skills, but a sizeable minority did not understand the rapid diagnostic test algorithm and were not able to correctly prescribe arteminisin-based combination therapy soon after the training. Further, few women lay health workers participated in the programme. Finally, the study identified stock-outs of rapid tests and anti-malaria medication products in over half of the programme sites two months after the start of the programme, thought due to a regional shortage. This study identified barriers to implementation of the community case management of malaria programme in Saraya that include lay health worker training, low numbers of women participants, and generalized stock-outs. These barriers warrant investigation into possible solutions of relevance to community case management generally.

A credit policy approach in a two-warehouse inventory model for deteriorating items with price- and stock-dependent demand under partial backlogging

NASA Astrophysics Data System (ADS)

Panda, Gobinda Chandra; Khan, Md. Al-Amin; Shaikh, Ali Akbar

2018-04-01

Advertisement of the product is an important factor in inventory analysis. Also, price and stock have an important role to attract more customers in the competitive business situations. Trade credit policy is another important role in inventory analysis. We have combined these three factors together in a two-warehouse inventory model and represented it mathematically. In addition, we have added deteriorating factor of our proposed problem with price- and stock-dependent demand under partial backlogged shortage and solved. The frequency of advertisement is considered constant for a year in this paper. The proposed model is highly nonlinear in nature. Due to highly nonlinearity, we could not find the closed form solution. In this paper, trade credit facility is taken in the perspective of retailer, and all the possible cases and subcases of the model are discussed and solved using lingo 10.0 software. The results of sensitivity analysis prove the effectiveness of the proposed model.

Peculiarities of solving the problems of modern logistics in high-rise construction and industrial production

NASA Astrophysics Data System (ADS)

Rubtsov, Anatoliy E.; Ushakova, Elena V.; Chirkova, Tamara V.

2018-03-01

Basing on the analysis of the enterprise (construction organization) structure and infrastructure of the entire logistics system in which this enterprise (construction organization) operates, this article proposes an approach to solve the problems of structural optimization and a set of calculation tasks, based on customer orders as well as on the required levels of insurance stocks, transit stocks and other types of stocks in the distribution network, modes of operation of the in-company transport and storage complex and a number of other factors.

Dataset for petroleum based stock markets and GAUSS codes for SAMEM.

PubMed

Khalifa, Ahmed A A; Bertuccelli, Pietro; Otranto, Edoardo

2017-02-01

This article includes a unique data set of a balanced daily (Monday, Tuesday and Wednesday) for oil and natural gas volatility and the oil rich economies' stock markets for Saudi Arabia, Qatar, Kuwait, Abu Dhabi, Dubai, Bahrain and Oman, using daily data over the period spanning Oct. 18, 2006-July 30, 2015. Additionally, we have included unique GAUSS codes for estimating the spillover asymmetric multiplicative error model (SAMEM) with application to Petroleum-Based Stock Market. The data, the model and the codes have many applications in business and social science.

Hydrocracking with a zeolite in an alumina binder peptized in the presence of a surfactant

DOE Office of Scientific and Technical Information (OSTI.GOV)

O'Hara, M.J.

A process for the conversion of a hydrocarbon charge stock is disclosed. The process comprises reacting the charge stock with hydrogen at hydrocracking conditions in contact with a catalytic composite having improved selectivity to middle distillate product during hydrocracking. The catalyst composite comprises alumina, a crystalline aluminosilicate, a Group VIB metal component and a Group VIII metal component and is prepared by the method comprising: admixing the alumina and crystalline aluminosilicate with a peptizing agent and an aqueous solution of a modified linear aliphatic polyether surfactant to form a dough; extruding the dough into discrete particles; and calcining and dryingmore » the particles.« less

Oxygen depletion in coastal seas and the effective spawning stock biomass of an exploited fish species

PubMed Central

Hinrichsen, H.-H.; von Dewitz, B.; Dierking, J.; Haslob, H.; Makarchouk, A.; Petereit, C.; Voss, R.

2016-01-01

Environmental conditions may have previously underappreciated effects on the reproductive processes of commercially exploited fish populations, for example eastern Baltic cod, that are living at the physiological limits of their distribution. In the Baltic Sea, salinity affects neutral egg buoyancy, which is positively correlated with egg survival, as only water layers away from the oxygen consumption-dominated sea bottom contain sufficient oxygen. Egg buoyancy is positively correlated to female spawner age/size. From observations in the Baltic Sea, a field-based relationship between egg diameter and buoyancy (floating depth) could be established. Hence, based on the age structure of the spawning stock, we quantify the number of effective spawners, which are able to reproduce under ambient hydrographic conditions. For the time period 1993–2010, our results revealed large variations in the horizontal extent of spawning habitat (1000–20 000 km2) and oxygen-dependent egg survival (10–80%). The novel concept of an effective spawning stock biomass takes into account offspring that survive depending on the spawning stock age/size structure, if reproductive success is related to egg buoyancy and the extent of hypoxic areas. Effective spawning stock biomass reflected the role of environmental conditions for Baltic cod recruitment better than the spawning stock biomass alone, highlighting the importance of including environmental information in ecosystem-based management approaches. PMID:26909164

Would protecting tropical forest fragments provide carbon and biodiversity cobenefits under REDD+?

PubMed

Magnago, Luiz Fernando S; Magrach, Ainhoa; Laurance, William F; Martins, Sebastião V; Meira-Neto, João Augusto A; Simonelli, Marcelo; Edwards, David P

2015-09-01

Tropical forests store vast amounts of carbon and are the most biodiverse terrestrial habitats, yet they are being converted and degraded at alarming rates. Given global shortfalls in the budgets required to prevent carbon and biodiversity loss, we need to seek solutions that simultaneously address both issues. Of particular interest are carbon-based payments under the Reducing Emissions from Deforestation and Forest Degradation (REDD+) mechanism to also conserve biodiversity at no additional cost. One potential is for REDD+ to protect forest fragments, especially within biomes where contiguous forest cover has diminished dramatically, but we require empirical tests of the strength of any carbon and biodiversity cobenefits in such fragmented systems. Using the globally threatened Atlantic Forest landscape, we measured above-ground carbon stocks within forest fragments spanning 13 to 23 442 ha in area and with different degrees of isolation. We related these stocks to tree community structure and to the richness and abundance of endemic and IUCN Red-listed species. We found that increasing fragment size has a positive relationship with above-ground carbon stock and with abundance of IUCN Red-listed species and tree community structure. We also found negative relationships between distance from large forest block and tree community structure, endemic species richness and abundance, and IUCN Red-listed species abundance. These resulted in positive congruence between carbon stocks and Red-listed species, and the abundance and richness of endemic species, demonstrating vital cobenefits. As such, protecting forest fragments in hotspots of biodiversity, particularly larger fragments and those closest to sources, offers important carbon and biodiversity cobenefits. More generally, our results suggest that macroscale models of cobenefits under REDD+ have likely overlooked key benefits at small scales, indicating the necessity to apply models that include finer-grained assessments in fragmented landscapes rather than using averaged coarse-grained cells. © 2015 John Wiley & Sons Ltd.

76 FR 13001 - Proposed Collection; Comment Request

Federal Register 2010, 2011, 2012, 2013, 2014

2011-03-09

... allow the trading of futures on individual stocks or on narrow-based stock indexes (collectively... submitted electronically.\\2\\ \\1\\ These matters are higher margin levels, fraud or manipulation...

Convective flow effects on protein crystal growth

NASA Technical Reports Server (NTRS)

Rosenberger, Franz; Monaco, Lisa A.

1995-01-01

During the fourth semi-annual period under this grant we have pursued the following activities: (1) crystal growth morphology and kinetics studies with tetragonal lysozyme. These clearly revealed the influence of higher molecular weight protein impurities on interface shape; (2) characterization of the purity and further purification of lysozyme solutions. These efforts have, for the first time, resulted in lysozyme free of higher molecular weight components; (3) continuation of the salt repartitioning studies with Seikagaku lysozyme, which has a lower protein impurity content that Sigma stock. These efforts confirmed our earlier findings of higher salt contents in smaller crystals. However, less salt is in corporated into the crystals grown from Seikagaku stock. This strongly suggests a dependence of salt repartitioning on the concentration of protein impurities in lysozyme. To test this hypothesis, repartitioning studies with the high purity lysozyme prepared in-house will be begun shortly; (4) numerical modelling of the interaction between bulk transport and interface kinetics. These simulations have produced interface shapes which are in good agreement with out experimental observations; and (5) light scattering studies on under- and supersaturated lysozyme solutions. A consistent interpretation of the static and dynamic data leaves little doubt that pre-nucleation clusters, claimed to exist even in undersaturated solutions, are not present. The article: 'Growth morphology response to nutrient and impurity nonuniformities' is attached.

MyLabStocks: a web-application to manage molecular biology materials

PubMed Central

Chuffart, Florent; Yvert, Gaël

2014-01-01

Laboratory stocks are the hardware of research. They must be stored and managed with mimimum loss of material and information. Plasmids, oligonucleotides and strains are regularly exchanged between collaborators within and between laboratories. Managing and sharing information about every item is crucial for retrieval of reagents, for planning experiments and for reproducing past experimental results. We have developed a web-based application to manage stocks commonly used in a molecular biology laboratory. Its functionalities include user-defined privileges, visualization of plasmid maps directly from their sequence and the capacity to search items from fields of annotation or directly from a query sequence using BLAST. It is designed to handle records of plasmids, oligonucleotides, yeast strains, antibodies, pipettes and notebooks. Based on PHP/MySQL, it can easily be extended to handle other types of stocks and it can be installed on any server architecture. MyLabStocks is freely available from: https://forge.cbp.ens-lyon.fr/redmine/projects/mylabstocks under an open source licence. PMID:24643870

Extreme values in the Chinese and American stock markets based on detrended fluctuation analysis

NASA Astrophysics Data System (ADS)

Cao, Guangxi; Zhang, Minjia

2015-10-01

This paper focuses on the comparative analysis of extreme values in the Chinese and American stock markets based on the detrended fluctuation analysis (DFA) algorithm using the daily data of Shanghai composite index and Dow Jones Industrial Average. The empirical results indicate that the multifractal detrended fluctuation analysis (MF-DFA) method is more objective than the traditional percentile method. The range of extreme value of Dow Jones Industrial Average is smaller than that of Shanghai composite index, and the extreme value of Dow Jones Industrial Average is more time clustering. The extreme value of the Chinese or American stock markets is concentrated in 2008, which is consistent with the financial crisis in 2008. Moreover, we investigate whether extreme events affect the cross-correlation between the Chinese and American stock markets using multifractal detrended cross-correlation analysis algorithm. The results show that extreme events have nothing to do with the cross-correlation between the Chinese and American stock markets.

The role of minerals and mean annual temperature on soil carbon accumulation: A modeling analysis

NASA Astrophysics Data System (ADS)

Abramoff, R. Z.; Georgiou, K.; Tang, J.; Torn, M. S.; Riley, W. J.

2016-12-01

Soil organic carbon (SOC) is the largest actively cycling terrestrial C pool with mean residence times that can exceed 10,000 years. There is strong evidence suggesting that SOC dynamics depend on soil temperature and C inputs to soil through net primary production (NPP), but it is unclear what the relative importance of these factors is relative to SOC protection by minerals. Recent empirical studies have suggested that mineral protection explains more variation in SOC stock sizes and C respiration fluxes than does NPP or climate. Our previous modeling has demonstrated that representing the chemistry of mineral sorption in a microbially-explicit model affects the temperature sensitivity of SOC dynamics. We apply this modeling framework to interpret observations of SOC stocks, mineral surface availability, mean annual temperature (MAT), and NPP collected along a 4,000 km transect in South America. We use a Random Forest machine learning algorithm and regression to analyze our model output and the empirical data. This analysis shows that mineral surface availability is the dominant control over C respiration and SOC stock, and is substantially larger than the effects of belowground NPP. We further show that minerals interact with MAT to determine the observed range of SOC stocks along this transect in the present day, as well as projected SOC stocks under long-term warming. Our model-data comparison suggests that soil mineralogy and MAT will explain the majority of the spatial variation in SOC stock over decadal-to-millennial timescales. We extend the analysis of these interactions using the ACME Land Model (ALM) coupled with an explicit representation of microbes, minerals, and vertical transport of solutes and gases. The model results confirm the dominant effects of minerals on organic matter decomposition throughout the soil column.

Mass marking of juvenile Schizothorax wangchiachii (Fang) with alizarin red S and evaluation of stock enhancement in the Jinping area of the Yalong River

PubMed Central

Yang, Kun; Li, Shu; Liu, Xiaoshuai; Gan, Weixiong; Deng, Longjun; Tang, Yezhong

2017-01-01

Schizothorax wangchiachii is a key fish species in the stock enhancement program of the Yalong River hydropower project, China. Alizarin red S (ARS) was used to mark large numbers of juvenile S. wangchiachii in the Jinping Hatchery and later used to evaluate stock enhancement in the Jinping area of the Yalong River. In a small-scale pilot study, 7,000 juveniles of the 2014 cohort were successfully marked by immersion in ARS solution, and no mortality was recorded during the marking process. The ARS mark in the fish otoliths remained visible 20 months later. In the large-scale marking study, approximately 600,000 juveniles of the 2015 cohort were successfully marked. Mortalities of both marked and unmarked juveniles were very low and did not differ significantly. Total length, wet mass and condition factor did not differ significantly between unmarked and marked individuals after three months. On 24 July 2015, about 840,000 Jinping Hatchery-produced young S. wangchiachii, including 400,000 marked individuals, were released at two sites in the Jinping area. Recapture surveys showed that (1) marked and unmarked S. wangchiachii did not differ significantly in total length, wet mass and condition factor; (2) stocked individuals became an important part of recruitment of the 2015 cohort; (3) instantaneous growth rate of marked individuals tended to slightly increase; and (4) most stocked individuals were distributed along a 10–15 km stretch near the release sites. These results suggest that the ARS method is a cost-efficient way to mass mark juvenile S. wangchiachii and that releasing juveniles is an effective means of stock recruitment. PMID:29230371

Forecast horizon of multi-item dynamic lot size model with perishable inventory.

PubMed

Jing, Fuying; Lan, Zirui

2017-01-01

This paper studies a multi-item dynamic lot size problem for perishable products where stock deterioration rates and inventory costs are age-dependent. We explore structural properties in an optimal solution under two cost structures and develop a dynamic programming algorithm to solve the problem in polynomial time when the number of products is fixed. We establish forecast horizon results that can help the operation manager to decide the precise forecast horizon in a rolling decision-making process. Finally, based on a detailed test bed of instance, we obtain useful managerial insights on the impact of deterioration rate and lifetime of products on the length of forecast horizon.

Forecast horizon of multi-item dynamic lot size model with perishable inventory

PubMed Central

Jing, Fuying

2017-01-01

This paper studies a multi-item dynamic lot size problem for perishable products where stock deterioration rates and inventory costs are age-dependent. We explore structural properties in an optimal solution under two cost structures and develop a dynamic programming algorithm to solve the problem in polynomial time when the number of products is fixed. We establish forecast horizon results that can help the operation manager to decide the precise forecast horizon in a rolling decision-making process. Finally, based on a detailed test bed of instance, we obtain useful managerial insights on the impact of deterioration rate and lifetime of products on the length of forecast horizon. PMID:29125856

Vitrification-based cryopreservation of Drosophila embryos

DOE Office of Scientific and Technical Information (OSTI.GOV)

Schreuders, P.D.; Mazur, P.

1994-12-31

Currently, over 30,000 strains of Drosophila melanogaster are maintained by geneticists through regular transfer of breeding stocks. A more cost effective solution is to cryopreserve their embryos. Cooling and warming rates >10,000{degrees}C/min. are required to prevent chilling injury. To avoid the lethal intracellular ice normally produced at such high cooling rates, it is necessary to use {ge}50% (w/w) concentrations of glass-inducing solutes to vitrify the embryos. Differential scanning calorimetry (DSC) is used to develop and evaluate ethylene glycol and polyvinyl pyrrolidone based vitrification solutions. The resulting solution consists of 8.5M ethylene glycol + 10% polyvinylpyrrolidone in D-20 Drosophila culture medium.more » A two stage method is used for the introduction and concentration of these solutes within the embryo. The method reduces the exposure time to the solution and, consequently, reduces toxicity. Both DSC and freezing experiments suggest that, while twelve-hour embryos will vitrify using cooling rates >200{degrees}C/min., they will devitrify and be killed with even moderately rapid warming rates of {approximately}1,900{degrees}C/min. Very rapid warming ({approximately}100,000{degrees}C/min.) results in variable numbers of successfully cryopreserved embryos. This sensitivity to warming rite is typical of devitrification. The variability in survival is reduced using embryos of a precisely determined embryonic stage. The vitrification of the older, fifteen-hour, embryos yields an optimized hatching rate of 68%, with 35 - 40% of the resulting larvae developing to normal adults. This Success rite in embryos of this age may reflect a reduced sensitivity to limited devitrification or a more even distribution of the ethylene glycol within the embryo.« less

Portfolio optimization by using linear programing models based on genetic algorithm

NASA Astrophysics Data System (ADS)

Sukono; Hidayat, Y.; Lesmana, E.; Putra, A. S.; Napitupulu, H.; Supian, S.

2018-01-01

In this paper, we discussed the investment portfolio optimization using linear programming model based on genetic algorithms. It is assumed that the portfolio risk is measured by absolute standard deviation, and each investor has a risk tolerance on the investment portfolio. To complete the investment portfolio optimization problem, the issue is arranged into a linear programming model. Furthermore, determination of the optimum solution for linear programming is done by using a genetic algorithm. As a numerical illustration, we analyze some of the stocks traded on the capital market in Indonesia. Based on the analysis, it is shown that the portfolio optimization performed by genetic algorithm approach produces more optimal efficient portfolio, compared to the portfolio optimization performed by a linear programming algorithm approach. Therefore, genetic algorithms can be considered as an alternative on determining the investment portfolio optimization, particularly using linear programming models.

An Intelligent Model for Pairs Trading Using Genetic Algorithms.

PubMed

Huang, Chien-Feng; Hsu, Chi-Jen; Chen, Chi-Chung; Chang, Bao Rong; Li, Chen-An

2015-01-01

Pairs trading is an important and challenging research area in computational finance, in which pairs of stocks are bought and sold in pair combinations for arbitrage opportunities. Traditional methods that solve this set of problems mostly rely on statistical methods such as regression. In contrast to the statistical approaches, recent advances in computational intelligence (CI) are leading to promising opportunities for solving problems in the financial applications more effectively. In this paper, we present a novel methodology for pairs trading using genetic algorithms (GA). Our results showed that the GA-based models are able to significantly outperform the benchmark and our proposed method is capable of generating robust models to tackle the dynamic characteristics in the financial application studied. Based upon the promising results obtained, we expect this GA-based method to advance the research in computational intelligence for finance and provide an effective solution to pairs trading for investment in practice.

An Intelligent Model for Pairs Trading Using Genetic Algorithms

PubMed Central

Hsu, Chi-Jen; Chen, Chi-Chung; Li, Chen-An

2015-01-01

Pairs trading is an important and challenging research area in computational finance, in which pairs of stocks are bought and sold in pair combinations for arbitrage opportunities. Traditional methods that solve this set of problems mostly rely on statistical methods such as regression. In contrast to the statistical approaches, recent advances in computational intelligence (CI) are leading to promising opportunities for solving problems in the financial applications more effectively. In this paper, we present a novel methodology for pairs trading using genetic algorithms (GA). Our results showed that the GA-based models are able to significantly outperform the benchmark and our proposed method is capable of generating robust models to tackle the dynamic characteristics in the financial application studied. Based upon the promising results obtained, we expect this GA-based method to advance the research in computational intelligence for finance and provide an effective solution to pairs trading for investment in practice. PMID:26339236

26 CFR 1.482-0T - Outline of regulations under section 482 (temporary).

Code of Federal Regulations, 2010 CFR

2010-04-01

... stock-based compensation with the IDA. (iii) Measurement and timing of stock-based compensation IDC. (A... accepted accounting principles. (4) Time and manner of making the election. (C) Consistency. (4) IDC share... rate. (C) Example. (vi) Financial projections. (vii) Accounting principles. (A) In general. (B...

2009 Munitions Executive Summit

DTIC Science & Technology

2009-02-05

CURRENT OPERATIONS • Replenish stocks expended in operations • Build /Replenish War Reserve stocks • Modernize stocks in the process • Industrial Base...4 Steel-Consuming Markets Construction (40% - 45%) Appliances, Office Furniture (2.5%) Containers (4%) Industrial Equipment (15% - 18...Partnership - HPS for Bridges • U.S. Navy • FHWA • AISI Steel and Defense Industries Collaboration – High- Performance Steels 17 Major

MainXchange in the Classroom: The New Internet Stock Market Game. Teacher's Guide and Student Activities.

ERIC Educational Resources Information Center

1998

This teaching guide/student activities booklet, for grades 6-9 and 7-11, outlines an Internet-based stock exchange simulation that allows students to learn about the stock market in a fun format. The simulation (the "MainXchange") described in the booklet offers students the opportunity to engage in "real-life" investing, while…

Creating a Global Stock Exchange: Does the Present National System Have a Future?

ERIC Educational Resources Information Center

Warner-Allen, Charles

Sovereignty and national pride throw up potentially the biggest obstacles in the path of a global stock exchange, being all the more insurmountable because of their bases in emotional politics as opposed to economic logic. A global stock exchange could come about if New York, London and Tokyo could consolidate their current baton-passing activity…

US forest carbon calculation tool: forest-land carbon stocks and net annual stock change

Treesearch

James E. Smith; Linda S. Heath; Michael C. Nichols

2007-01-01

The Carbon Calculation Tool 4.0, CCTv40.exe, is a computer application that reads publicly available forest inventory data collected by the U.S. Forest Service's Forest Inventory and Analysis Program (FIA) and generates state-level annualized estimates of carbon stocks on forest land based on FORCARB2 estimators. Estimates can be recalculated as...

76 FR 27673 - Submission for OMB Review; Comment Request

Federal Register 2010, 2011, 2012, 2013, 2014

2011-05-12

... futures on individual stocks or on narrow-based stock indexes (collectively, ``security futures products....\\2\\ \\1\\ These matters are higher margin levels, fraud or manipulation, recordkeeping, reporting...

Preventing the collapse of the Baltic cod stock through an ecosystem-based management approach

PubMed Central

Lindegren, Martin; Möllmann, Christian; Nielsen, Anders; Stenseth, Nils C.

2009-01-01

Worldwide a number of fish stocks have collapsed because of overfishing and climate-induced ecosystem changes. Developing ecosystem-based fisheries management (EBFM) to prevent these catastrophic events in the future requires ecological models incorporating both internal food-web dynamics and external drivers such as fishing and climate. Using a stochastic food-web model for a large marine ecosystem (i.e., the Baltic Sea) hosting a commercially important cod stock, we were able to reconstruct the history of the stock. Moreover we demonstrate that in hindsight the collapse could only have been avoidable by adapting fishing pressure to environmental conditions and food-web interactions. The modeling approach presented here represents a significant advance for EBFM, the application of which is important for sustainable resource management in the future. PMID:19706557

Impact of deforestation on soil carbon stock and its spatial distribution in the Western Black Sea Region of Turkey.

PubMed

Kucuker, Mehmet Ali; Guney, Mert; Oral, H Volkan; Copty, Nadim K; Onay, Turgut T

2015-01-01

Land use management is one of the most critical factors influencing soil carbon storage and the global carbon cycle. This study evaluates the impact of land use change on the soil carbon stock in the Karasu region of Turkey which in the last two decades has undergone substantial deforestation to expand hazelnut plantations. Analysis of seasonal soil data indicated that the carbon content decreased rapidly with depth for both land uses. Statistical analyses indicated that the difference between the surface carbon stock (defined over 0-5 cm depth) in agricultural and forested areas is statistically significant (Agricultural = 1.74 kg/m(2), Forested = 2.09 kg/m(2), p = 0.014). On the other hand, the average carbon stocks estimated over the 0-1 m depth were 12.36 and 12.12 kg/m(2) in forested and agricultural soils, respectively. The carbon stock (defined over 1 m depth) in the two land uses were not significantly different which is attributed in part to the negative correlation between carbon stock and bulk density (-0.353, p < 0.01). The soil carbon stock over the entire study area was mapped using a conditional kriging approach which jointly uses the collected soil carbon data and satellite-based land use images. Based on the kriging map, the spatially soil carbon stock (0-1 m dept) ranged about 2 kg/m(2) in highly developed areas to more than 23 kg/m(2) in intensively cultivated areas as well as the averaged soil carbon stock (0-1 m depth) was estimated as 10.4 kg/m(2). Copyright © 2014 Elsevier Ltd. All rights reserved.

Availability of essential drugs for managing HIV-related pain and symptoms within 120 PEPFAR-funded health facilities in East Africa: a cross-sectional survey with onsite verification.

PubMed

Harding, Richard; Simms, Victoria; Penfold, Suzanne; Downing, Julia; Powell, Richard A; Mwangi-Powell, Faith; Namisango, Eve; Moreland, Scott; Gikaara, Nancy; Atieno, Mackuline; Kataike, Jennifer; Nsubuga, Clare; Munene, Grace; Banga, Geoffrey; Higginson, Irene J

2014-04-01

World Health Organization's essential drugs list can control the highly prevalent HIV-related pain and symptoms. Availability of essential medicines directly influences clinicians' ability to effectively manage distressing manifestations of HIV. To determine the availability of pain and symptom controlling drugs in East Africa within President's Emergency Plan for AIDS Relief-funded HIV health care facilities. Directly observed quantitative health facilities' pharmacy stock review. We measured availability, expiration and stock-outs of specified drugs required for routine HIV management, including the World Health Organization pain ladder. A stratified random sample in 120 President's Emergency Plan for AIDS Relief-funded HIV care facilities (referral and district hospitals, health posts/centres and home-based care providers) in Kenya and Uganda. Non-opioid analgesics (73%) and co-trimoxazole (64%) were the most commonly available drugs and morphine (7%) the least. Drug availability was higher in hospitals and lower in health centres, health posts and home-based care facilities. Facilities generally did not use minimum stock levels, and stock-outs were frequently reported. The most common drugs had each been out of stock in the past 6 months in 47% of facilities stocking them. When a minimum stock level was defined, probability of a stock-out in the previous 6 months was 32.6%, compared to 45.5% when there was no defined minimum stock level (χ (2) = 5.07, p = 0.024). The data demonstrate poor essential drug availability, particularly analgesia, limited by facility type. The lack of strong opioids, isoniazid and paediatric formulations is concerning. Inadequate drug availability prevents implementation of simple clinical pain and symptom control protocols, causing unnecessary distress. Research is needed to identify supply chain mechanisms that lead to these problems.

Analysis of portfolio optimization with lot of stocks amount constraint: case study index LQ45

NASA Astrophysics Data System (ADS)

Chin, Liem; Chendra, Erwinna; Sukmana, Agus

2018-01-01

To form an optimum portfolio (in the sense of minimizing risk and / or maximizing return), the commonly used model is the mean-variance model of Markowitz. However, there is no amount of lots of stocks constraint. And, retail investors in Indonesia cannot do short selling. So, in this study we will develop an existing model by adding an amount of lot of stocks and short-selling constraints to get the minimum risk of portfolio with and without any target return. We will analyse the stocks listed in the LQ45 index based on the stock market capitalization. To perform this analysis, we will use Solver that available in Microsoft Excel.

High-order fuzzy time-series based on multi-period adaptation model for forecasting stock markets

NASA Astrophysics Data System (ADS)

Chen, Tai-Liang; Cheng, Ching-Hsue; Teoh, Hia-Jong

2008-02-01

Stock investors usually make their short-term investment decisions according to recent stock information such as the late market news, technical analysis reports, and price fluctuations. To reflect these short-term factors which impact stock price, this paper proposes a comprehensive fuzzy time-series, which factors linear relationships between recent periods of stock prices and fuzzy logical relationships (nonlinear relationships) mined from time-series into forecasting processes. In empirical analysis, the TAIEX (Taiwan Stock Exchange Capitalization Weighted Stock Index) and HSI (Heng Seng Index) are employed as experimental datasets, and four recent fuzzy time-series models, Chen’s (1996), Yu’s (2005), Cheng’s (2006) and Chen’s (2007), are used as comparison models. Besides, to compare with conventional statistic method, the method of least squares is utilized to estimate the auto-regressive models of the testing periods within the databases. From analysis results, the performance comparisons indicate that the multi-period adaptation model, proposed in this paper, can effectively improve the forecasting performance of conventional fuzzy time-series models which only factor fuzzy logical relationships in forecasting processes. From the empirical study, the traditional statistic method and the proposed model both reveal that stock price patterns in the Taiwan stock and Hong Kong stock markets are short-term.

Price-volume multifractal analysis and its application in Chinese stock markets

NASA Astrophysics Data System (ADS)

Yuan, Ying; Zhuang, Xin-tian; Liu, Zhi-ying

2012-06-01

An empirical research on Chinese stock markets is conducted using statistical tools. First, the multifractality of stock price return series, ri(ri=ln(Pt+1)-ln(Pt)) and trading volume variation series, vi(vi=ln(Vt+1)-ln(Vt)) is confirmed using multifractal detrended fluctuation analysis. Furthermore, a multifractal detrended cross-correlation analysis between stock price return and trading volume variation in Chinese stock markets is also conducted. It is shown that the cross relationship between them is also found to be multifractal. Second, the cross-correlation between stock price Pi and trading volume Vi is empirically studied using cross-correlation function and detrended cross-correlation analysis. It is found that both Shanghai stock market and Shenzhen stock market show pronounced long-range cross-correlations between stock price and trading volume. Third, a composite index R based on price and trading volume is introduced. Compared with stock price return series ri and trading volume variation series vi, R variation series not only remain the characteristics of original series but also demonstrate the relative correlation between stock price and trading volume. Finally, we analyze the multifractal characteristics of R variation series before and after three financial events in China (namely, Price Limits, Reform of Non-tradable Shares and financial crisis in 2008) in the whole period of sample to study the changes of stock market fluctuation and financial risk. It is found that the empirical results verified the validity of R.

This is more difficult than we thought! The responsibility of scientists, managers and stakeholders to mitigate the unsustainability of marine fisheries.

PubMed

Caddy, J F; Seijo, J C

2005-01-29

The management of marine fisheries needs to undergo dramatic change in the new millennium, in response to the well-documented evidence of global overfishing and the general depletion of commercial fish stocks. The axioms of sustainable development and equilibrium productivity of wild ecosystems are identified as misleading concepts, which nonetheless underlie current approaches to the management of living marine resources. Current trends in marine fisheries landings worldwide provide little evidence of sustainability of marine resources under current management paradigms, where biological, economic and social aspects of fisheries are usually treated as different disciplines. While open-access conditions are less widespread than formerly, except for many straddling and highly migratory resources, fishers usually have access to the resource year-round throughout its range. Despite quotas, the nominal control of capacity and technical measures protecting juveniles, top-down management has generally been unable to prevent stock depletion, particularly of the older spawners that for demersal stocks often support recruitment. An integrated solution to the complexity of managing wild resources seems not to have been achieved. Any new paradigm should assert the basic unpredictability of fisheries at the system level and require a broader range of performance indicators to be incorporated into the decisional framework. This must reflect the non-equilibrium nature of marine systems, and give greater importance to resource (as opposed to harvest) continuity in the face of regime shifts, and promote habitat restoration and conservation of genetic resources. The new management framework requires co-management and collective decision-making to be incorporated within a precautionary and pre-negotiated management framework. This must explicitly recognize that decision-making occurs in conditions of model-based uncertainty and precautionary approaches should be incorporated at all levels, not least of which is to avoid the assumption that all resources can be harvested in a sustainable fashion through time. Redundancy in data inputs to management are needed to avoid the surprises that model-based sampling occasionally leads to, for example, when regime changes reduce productivity in response to climatic fluctuations. Emergency frameworks imposing non-discretionary rules must be invoked when overfishing and/or regime change trigger reference points indicating stock depletion. Non-discretionary recovery plans should then override rights-based systems and persist until fish populations recover to pre-established healthy levels, which may in turn need to await the return of a favourable regime. In fact, some stocks may require periodic rebuilding after regime-induced collapses or because of a combination of ecological or economic impacts, hence a constant harvest policy may not always be possible. It will probably also be necessary to discard the axiom that a stock should be available to harvesting throughout its range and seasonal cycle. Technological advances mean that time- and area-specific access rights are now practical options, through satellite monitoring of vessel operations, even offshore. More fundamentally, the basic axiom of "enlightened self interest" underlying current methods of management will need to be tempered by an increased ethical concern for the fragility of natural ecosystems.

This is more difficult than we thought! The responsibility of scientists, managers and stakeholders to mitigate the unsustainability of marine fisheries

PubMed Central

Caddy, J.F.; Seijo, J.C.

2005-01-01

The management of marine fisheries needs to undergo dramatic change in the new millennium, in response to the well-documented evidence of global overfishing and the general depletion of commercial fish stocks. The axioms of sustainable development and equilibrium productivity of wild ecosystems are identified as misleading concepts, which nonetheless underlie current approaches to the management of living marine resources. Current trends in marine fisheries landings worldwide provide little evidence of sustainability of marine resources under current management paradigms, where biological, economic and social aspects of fisheries are usually treated as different disciplines. While open-access conditions are less widespread than formerly, except for many straddling and highly migratory resources, fishers usually have access to the resource year-round throughout its range. Despite quotas, the nominal control of capacity and technical measures protecting juveniles, top-down management has generally been unable to prevent stock depletion, particularly of the older spawners that for demersal stocks often support recruitment. An integrated solution to the complexity of managing wild resources seems not to have been achieved. Any new paradigm should assert the basic unpredictability of fisheries at the system level and require a broader range of performance indicators to be incorporated into the decisional framework. This must reflect the non-equilibrium nature of marine systems, and give greater importance to resource (as opposed to harvest) continuity in the face of regime shifts, and promote habitat restoration and conservation of genetic resources. The new management framework requires co-management and collective decision-making to be incorporated within a precautionary and pre-negotiated management framework. This must explicitly recognize that decision-making occurs in conditions of model-based uncertainty and precautionary approaches should be incorporated at all levels, not least of which is to avoid the assumption that all resources can be harvested in a sustainable fashion through time. Redundancy in data inputs to management are needed to avoid the surprises that model-based sampling occasionally leads to, for example, when regime changes reduce productivity in response to climatic fluctuations. Emergency frameworks imposing non-discretionary rules must be invoked when overfishing and/or regime change trigger reference points indicating stock depletion. Non-discretionary recovery plans should then override rights-based systems and persist until fish populations recover to pre-established healthy levels, which may in turn need to await the return of a favourable regime. In fact, some stocks may require periodic rebuilding after regime-induced collapses or because of a combination of ecological or economic impacts, hence a constant harvest policy may not always be possible. It will probably also be necessary to discard the axiom that a stock should be available to harvesting throughout its range and seasonal cycle. Technological advances mean that time- and area-specific access rights are now practical options, through satellite monitoring of vessel operations, even offshore. More fundamentally, the basic axiom of ‘enlightened self interest’ underlying current methods of management will need to be tempered by an increased ethical concern for the fragility of natural ecosystems. PMID:15713588

Relative contribution of stocked walleyes in Tennessee reservoirs

USGS Publications Warehouse

Vandergoot, C.S.; Bettoli, P.W.

2003-01-01

Since the mid-1950s, fisheries biologists with the Tennessee Wildlife Resources Agency have stocked walleyes Stizostedion vitreum in several tributary reservoirs of the Cumberland and Tennessee rivers to augment declining native stocks; however, the efficacy of these management actions has never been formally evaluated. The contribution of stocked walleyes in four Tennessee reservoirs was evaluated during 1999 and 2000 by marking fry and fingerlings through oxytetracycline (OTC) immersion. Stocking densities were 13-48 fingerlings/ha, and marking efficacy was high for fish marked as fry (mean = 98%; SE = 1.7%) and fingerlings (mean = 99%; SE = 0.6%). Nearly all (94-100%; N = 509) of the age-1 and age-2 walleyes collected in the four reservoirs were OTC-marked. Based on these findings, fingerling walleyes must be stocked annually to sustain the walleye populations in these tributary impoundments.

DOE Office of Scientific and Technical Information (OSTI.GOV)

Hawkins, Cory A.; Bustillos, Christian G.; May, Iain

Conventional solvent extraction of selected f-element cations by bis(2-ethylhexyl)phosphoric acid (HDEHP) yields increased extraction from aqueous to organic solution along the series Np(V) < Cm(III) < Eu(III) < U(VI), with distribution ratios all within two orders of magnitude. However, in the presence of the water-soluble tetradentate Schiff base (N,N'-bis(5-sulfonatosalicylidene)-ethylenediamine or H 2salenSO 3), selective complexation of the two actinyl cations (Np(V) and U(VI)) resulted in an extraction order of Np(V) < U(VI) << Eu(III) < Cm(III). The extraction of neither Cm(III) or Eu(III) by HDEHP are significantly impacted by the presence of the aqueous phase Schiff base. Despite observed hydrolyticmore » decomposition of H 2salenSO 3 in aqueous solutions, the calculated high conditional stability constant (β 11 = 26) for the complex [UO 2(salenSO 3)] 2- demonstrates its capacity for aqueous hold-back of U(VI). UV-visible-NIR spectroscopy of solutions prepared with a Np(VI) stock and H 2salenSO 3 suggest that reduction of Np(VI) to Np(V) by the ligand was rapid, resulting in a pentavalent Np complex that was substantially retained in the aqueous phase. Lastly, results from 1H NMR of aqueous solutions of H 2salenSO 3 with U(VI) and La(III), Eu(III), and Lu(III) provides additional evidence that the ligand readily chelates U(VI), but has only weak interactions with trivalent lanthanide ions.« less

Hidden cross-correlation patterns in stock markets based on permutation cross-sample entropy and PCA

NASA Astrophysics Data System (ADS)

Lin, Aijing; Shang, Pengjian; Zhong, Bo

2014-12-01

In this article, we investigate the hidden cross-correlation structures in Chinese stock markets and US stock markets by performing PCSE combined with PCA approach. It is suggested that PCSE can provide a more faithful and more interpretable description of the dynamic mechanism between time series than cross-correlation matrix. We show that this new technique can be adapted to observe stock markets especially during financial crisis. In order to identify and compare the interactions and structures of stock markets during financial crisis, as well as in normal periods, all the samples are divided into four sub-periods. The results imply that the cross-correlations between Chinese group are stronger than the US group in the most sub-periods. In particular, it is likely that the US stock markets are more integrated with each other during global financial crisis than during Asian financial crisis. However, our results illustrate that Chinese stock markets are not immune from the global financial crisis, although less integrated with other markets if they are compared with US stock markets.

Simultaneous quantification by HPLC of purines in umami soup stock and evaluation of their effects on extracellular and intracellular purine metabolism.

PubMed

Fukuuchi, T; Iyama, N; Yamaoka, N; Kaneko, K

2018-04-13

Ribonucleotide flavor enhancers such as inosine monophosphate (IMP) and guanosine monophosphate (GMP) provide umami taste, similarly to glutamine. Japanese cuisine frequently uses soup stocks containing these nucleotides to enhance umami. We quantified 18 types of purines (nucleotides, nucleosides, and purine bases) in three soup stocks (chicken, consommé, and dried bonito soup). IMP was the most abundant purine in all umami soup stocks, followed by hypoxanthine, inosine, and GMP. The IMP content of dried bonito soup was the highest of the three soup stocks. We also evaluated the effects of these purines on extracellular and intracellular purine metabolism in HepG2 cells after adding each umami soup stock to the cells. An increase in inosine and hypoxanthine was evident 1 h and 4 h after soup stock addition, and a low amount of xanthine and guanosine was observed in the extracellular medium. The addition of chicken soup stock resulted in increased intracellular and extracellular levels of uric acid and guanosine. Purine metabolism may be affected by ingredients present in soups.

Geo-Referenced, Abundance Calibrated Ocean Distribution of Chinook Salmon (Oncorhynchus tshawytscha) Stocks across the West Coast of North America.

PubMed

Bellinger, M Renee; Banks, Michael A; Bates, Sarah J; Crandall, Eric D; Garza, John Carlos; Sylvia, Gil; Lawson, Peter W

2015-01-01

Understanding seasonal migration and localized persistence of populations is critical for effective species harvest and conservation management. Pacific salmon (genus Oncorhynchus) forecasting models predict stock composition, abundance, and distribution during annual assessments of proposed fisheries impacts. Most models, however, fail to account for the influence of biophysical factors on year-to-year fluctuations in migratory distributions and stock-specific survival. In this study, the ocean distribution and relative abundance of Chinook salmon (O. tshawytscha) stocks encountered in the California Current large marine ecosystem, U.S.A were inferred using catch-per-unit effort (CPUE) fisheries and genetic stock identification data. In contrast to stock distributions estimated through coded-wire-tag recoveries (typically limited to hatchery salmon), stock-specific CPUE provides information for both wild and hatchery fish. Furthermore, in contrast to stock composition results, the stock-specific CPUE metric is independent of other stocks and is easily interpreted over multiple temporal or spatial scales. Tests for correlations between stock-specific CPUE and stock composition estimates revealed these measures diverged once proportional contributions of locally rare stocks were excluded from data sets. A novel aspect of this study was collection of data both in areas closed to commercial fisheries and during normal, open commercial fisheries. Because fishing fleet efficiency influences catch rates, we tested whether CPUE differed between closed area (non-retention) and open area (retention) data sets. A weak effect was indicated for some, but not all, analyzed cases. Novel visualizations produced from stock-specific CPUE-based ocean abundance facilitates consideration of how highly refined, spatial and genetic information could be incorporated in ocean fisheries management systems and for investigations of biogeographic factors that influence migratory distributions of fish.

Geo-Referenced, Abundance Calibrated Ocean Distribution of Chinook Salmon (Oncorhynchus tshawytscha) Stocks across the West Coast of North America

PubMed Central

Bellinger, M. Renee; Banks, Michael A.; Bates, Sarah J.; Crandall, Eric D.; Garza, John Carlos; Sylvia, Gil; Lawson, Peter W.

2015-01-01

Understanding seasonal migration and localized persistence of populations is critical for effective species harvest and conservation management. Pacific salmon (genus Oncorhynchus) forecasting models predict stock composition, abundance, and distribution during annual assessments of proposed fisheries impacts. Most models, however, fail to account for the influence of biophysical factors on year-to-year fluctuations in migratory distributions and stock-specific survival. In this study, the ocean distribution and relative abundance of Chinook salmon (O. tshawytscha) stocks encountered in the California Current large marine ecosystem, U.S.A were inferred using catch-per-unit effort (CPUE) fisheries and genetic stock identification data. In contrast to stock distributions estimated through coded-wire-tag recoveries (typically limited to hatchery salmon), stock-specific CPUE provides information for both wild and hatchery fish. Furthermore, in contrast to stock composition results, the stock-specific CPUE metric is independent of other stocks and is easily interpreted over multiple temporal or spatial scales. Tests for correlations between stock-specific CPUE and stock composition estimates revealed these measures diverged once proportional contributions of locally rare stocks were excluded from data sets. A novel aspect of this study was collection of data both in areas closed to commercial fisheries and during normal, open commercial fisheries. Because fishing fleet efficiency influences catch rates, we tested whether CPUE differed between closed area (non-retention) and open area (retention) data sets. A weak effect was indicated for some, but not all, analyzed cases. Novel visualizations produced from stock-specific CPUE-based ocean abundance facilitates consideration of how highly refined, spatial and genetic information could be incorporated in ocean fisheries management systems and for investigations of biogeographic factors that influence migratory distributions of fish. PMID:26200779

Elaborating the History of Our Cementing Societies: An in-Use Stock Perspective.

PubMed

Cao, Zhi; Shen, Lei; Løvik, Amund N; Müller, Daniel B; Liu, Gang

2017-10-03

Modern cities and societies are built fundamentally based on cement and concrete. The global cement production has risen sharply in the past decades due largely to urbanization and construction. Here we deployed a top-down dynamic material flow analysis (MFA) model to quantify the historical development of cement in-use stocks in residential, nonresidential, and civil engineering sectors of all world countries. We found that global cement production spreads unevenly among 184 countries, with China dominating the global production and consumption after the 1990s. Nearly all countries have shown an increasing trend of per capita cement in-use stock in the past century. The present per capita cement in-use stocks vary from 10 to 40 tonnes in major industrialized and transiting countries and are below 10 tonnes in developing countries. Evolutionary modes identified from historical patterns suggest that per capita in-use cement stock growth generally complies with an S-shape curve and relates closely to affluence and urbanization of a country, but more in-depth and bottom-up investigations are needed to better understand socioeconomic drivers behind stock growth. These identified in-use stock patterns can help us better estimate future demand of cement, explore strategies for emissions reduction in the cement industry, and inform CO 2 uptake potentials of cement based products and infrastructure in service.

A New Look at Factors Affecting Microbial Silicification: Effects of Microbe to Solution Ratio, Al and Fe on Silica Accumulation on B. subtilis Surfaces

NASA Astrophysics Data System (ADS)

Tenesch, A. C.; Hinman, N. W.; Blank, C. E.

2006-12-01

In this investigation, we aim to constrain the geochemical conditions that favor siliceous microfossil formation. This work will provide a framework for assessing the biogenic origin of putative microfossils in siliceous hydrothermal deposits on early Earth, and potentially, on Mars. Previous work on silicification of microbial cells has been done under unnatural conditions or when cells were physiological stressed. Here, we attempt to reduce the amount reduce the amount of physiological stress on the organisms and to better emulate the natural environment. Silicification experiments involving the gram-positive bacterium, Bacillus subtilis, have been conducted under different experimental conditions to provide insight into the processes that affect silicification of microorganisms. Experiments were conducted with silica stock solution at an initial pH of 8, and with and without added Al and Fe, in two different experimental designs. The first experimental design represented a silica-limited environment in which the ratio of exponentially growing culture (O.D.600 = 0.2) to silica-rich stock solution was very high (1:1 v/v). Silica concentrations declined likely due to nucleation and precipitation mediated by microbial surfaces, and the pH dropped from 8.0 to 6.5. The presence of Fe and Al resulted in lower dissolved silica concentrations, suggesting additional effects of these ions on nucleation and precipitation. The second experimental design used a lower ratio of exponentially growing culture (O.D.600 = .2) to silica-rich stock solution (0.004:1 v/v) resulting in a stable concentration of silica, which was also accompanied by a slight decline in pH. This latter design is more similar to the cell:silica ratios found in natural environments. B. subtilis cells were examined using scanning electron microscopy (SEM) accompanied by energy dispersive spectrometry (EDS). Cells exhibited silica crystallites under SEM and yet continued to undergo cell division in an environment of limited resources. Silicification in the low-ratio experiments appeared to be more efficient as cells were more encrusted with Si than cells in the high-ratio experiments. Further, sporulation was more efficient in the low-ratio experiments.

Underestimation of boreal soil carbon stocks by mathematical soil carbon models linked to soil nutrient status

NASA Astrophysics Data System (ADS)

Ťupek, Boris; Ortiz, Carina A.; Hashimoto, Shoji; Stendahl, Johan; Dahlgren, Jonas; Karltun, Erik; Lehtonen, Aleksi

2016-08-01

Inaccurate estimate of the largest terrestrial carbon pool, soil organic carbon (SOC) stock, is the major source of uncertainty in simulating feedback of climate warming on ecosystem-atmosphere carbon dioxide exchange by process-based ecosystem and soil carbon models. Although the models need to simplify complex environmental processes of soil carbon sequestration, in a large mosaic of environments a missing key driver could lead to a modeling bias in predictions of SOC stock change.We aimed to evaluate SOC stock estimates of process-based models (Yasso07, Q, and CENTURY soil sub-model v4) against a massive Swedish forest soil inventory data set (3230 samples) organized by a recursive partitioning method into distinct soil groups with underlying SOC stock development linked to physicochemical conditions.For two-thirds of measurements all models predicted accurate SOC stock levels regardless of the detail of input data, e.g., whether they ignored or included soil properties. However, in fertile sites with high N deposition, high cation exchange capacity, or moderately increased soil water content, Yasso07 and Q models underestimated SOC stocks. In comparison to Yasso07 and Q, accounting for the site-specific soil characteristics (e. g. clay content and topsoil mineral N) by CENTURY improved SOC stock estimates for sites with high clay content, but not for sites with high N deposition.Our analysis suggested that the soils with poorly predicted SOC stocks, as characterized by the high nutrient status and well-sorted parent material, indeed have had other predominant drivers of SOC stabilization lacking in the models, presumably the mycorrhizal organic uptake and organo-mineral stabilization processes. Our results imply that the role of soil nutrient status as regulator of organic matter mineralization has to be re-evaluated, since correct SOC stocks are decisive for predicting future SOC change and soil CO2 efflux.

To stock or not to stock? Assessing restoration potential of a remnant American shad spawning run with hatchery supplementation

USGS Publications Warehouse

Bailey, Michael M.; Zydlewski, Joseph D.

2013-01-01

Hatchery supplementation has been widely used as a restoration technique for American Shad Alosa sapidissima on the East Coast of the USA, but results have been equivocal. In the Penobscot River, Maine, dam removals and other improvements to fish passage will likely reestablish access to the majority of this species’ historic spawning habitat. Additional efforts being considered include the stocking of larval American Shad. The decision about whether to stock a river system undergoing restoration should be made after evaluating the probability of natural recolonization and examining the costs and benefits of potentially accelerating recovery using a stocking program. However, appropriate evaluation can be confounded by a dearth of information about the starting population size and age structure of the remnant American Shad spawning run in the river. We used the Penobscot River as a case study to assess the theoretical sensitivity of recovery time to either scenario (stocking or not) by building a deterministic model of an American Shad population. This model is based on the best available estimates of size at age, fecundity, rate of iteroparity, and recruitment. Density dependence was imposed, such that the population reached a plateau at an arbitrary recovery goal of 633,000 spawning adults. Stocking had a strong accelerating effect on the time to modeled recovery (as measured by the time to reach 50% of the recovery goal) in the base model, but stocking had diminishing effects with larger population sizes. There is a diminishing return to stocking when the starting population is modestly increased. With a low starting population (a spawning run of 1,000), supplementation with 12 million larvae annually accelerated modeled recovery by 12 years. Only a 2-year acceleration was observed if the starting population was 15,000. Such a heuristic model may aid managers in assessing the costs and benefits of stocking by incorporating a structured decision framework.

Food Science of Dashi and Umami Taste.

PubMed

Ninomiya, Kumiko

2016-01-01

Umami is a basic tastes, along with sweet, salty, bitter and sour, which is imparted by glutamate, one of the free amino acids in foods. Since its discovery of umami by a Japanese scientist in 1908, umami is now perceived globally a basic taste. Recent collaboration among chefs and researchers on traditional soup stocks showed a difference in taste profiles of Japanese soup stock 'dashi' and Western style soup stock. The free amino acids profile's in dashi and soup stock showed how Japanese have traditionally adopted a simple umami taste. The exchange of knowledge on cooking methods and diverse types of umami rich foods in different countries displays the blending of the culinary arts, food science and technology for healthy and tasty solutions. Since Japanese cuisine 'WASHOKU' was listed in the 'Intangible Heritage of UNESCO' in 2013, many people in the world now have great interest in Japanese cuisine. One of the unique characteristics of this cuisine is that 'dashi' is an indispensable material for cooking a variety of Japanese dishes. Many chefs from Europe, US and South America have come to Japan to learn Japanese cuisine in the last 10 years, and umami has become recognized as a common taste worldwide. Researchers and culinary professionals have begun to pay attention to the traditional seasonings and condiments rich in glutamate available throughout the world.

Periodic inventory system in cafeteria using linear programming

NASA Astrophysics Data System (ADS)

Usop, Mohd Fais; Ishak, Ruzana; Hamdan, Ahmad Ridhuan

2017-11-01

Inventory management is an important factor in running a business. It plays a big role of managing the stock in cafeteria. If the inventories are failed to be managed wisely, it will affect the profit of the cafeteria. Therefore, the purpose of this study is to find the solution of the inventory management in cafeteria. Most of the cafeteria in Malaysia did not manage their stock well. Therefore, this study is to propose a database system of inventory management and to develop the inventory model in cafeteria management. In this study, new database system to improve the management of the stock in a weekly basis will be provided using Linear Programming Model to get the optimal range of the inventory needed for selected categories. Data that were collected by using the Periodic Inventory System at the end of the week within three months period being analyzed by using the Food Stock-take Database. The inventory model was developed from the collected data according to the category of the inventory in the cafeteria. Results showed the effectiveness of using the Periodic Inventory System and will be very helpful to the cafeteria management in organizing the inventory. Moreover, the findings in this study can reduce the cost of operation and increased the profit.

The asymmetric reactions of mean and volatility of stock returns to domestic and international information based on a four-regime double-threshold GARCH model

NASA Astrophysics Data System (ADS)

Chen, Cathy W. S.; Yang, Ming Jing; Gerlach, Richard; Jim Lo, H.

2006-07-01

In this paper, we investigate the asymmetric reactions of mean and volatility of stock returns in five major markets to their own local news and the US information via linear and nonlinear models. We introduce a four-regime Double-Threshold GARCH (DTGARCH) model, which allows asymmetry in both the conditional mean and variance equations simultaneously by employing two threshold variables, to analyze the stock markets’ reactions to different types of information (good/bad news) generated from the domestic markets and the US stock market. By applying the four-regime DTGARCH model, this study finds that the interaction between the information of domestic and US stock markets leads to the asymmetric reactions of stock returns and their variability. In addition, this research also finds that the positive autocorrelation reported in the previous studies of financial markets may in fact be mis-specified, and actually due to the local market's positive response to the US stock market.

Interdependence between Greece and other European stock markets: A comparison of wavelet and VMD copula, and the portfolio implications

NASA Astrophysics Data System (ADS)

Shahzad, Syed Jawad Hussain; Kumar, Ronald Ravinesh; Ali, Sajid; Ameer, Saba

2016-09-01

The interdependence of Greece and other European stock markets and the subsequent portfolio implications are examined in wavelet and variational mode decomposition domain. In applying the decomposition techniques, we analyze the structural properties of data and distinguish between short and long term dynamics of stock market returns. First, the GARCH-type models are fitted to obtain the standardized residuals. Next, different copula functions are evaluated, and based on the conventional information criteria and time varying parameter, Joe-Clayton copula is chosen to model the tail dependence between the stock markets. The short-run lower tail dependence time paths show a sudden increase in comovement during the global financial crises. The results of the long-run dependence suggest that European stock markets have higher interdependence with Greece stock market. Individual country's Value at Risk (VaR) separates the countries into two distinct groups. Finally, the two-asset portfolio VaR measures provide potential markets for Greece stock market investment diversification.

Regularities and irregularities in order flow data

NASA Astrophysics Data System (ADS)

Theissen, Martin; Krause, Sebastian M.; Guhr, Thomas

2017-11-01

We identify and analyze statistical regularities and irregularities in the recent order flow of different NASDAQ stocks, focusing on the positions where orders are placed in the order book. This includes limit orders being placed outside of the spread, inside the spread and (effective) market orders. Based on the pairwise comparison of the order flow of different stocks, we perform a clustering of stocks into groups with similar behavior. This is useful to assess systemic aspects of stock price dynamics. We find that limit order placement inside the spread is strongly determined by the dynamics of the spread size. Most orders, however, arrive outside of the spread. While for some stocks order placement on or next to the quotes is dominating, deeper price levels are more important for other stocks. As market orders are usually adjusted to the quote volume, the impact of market orders depends on the order book structure, which we find to be quite diverse among the analyzed stocks as a result of the way limit order placement takes place.

Conventional tree height-diameter relationships significantly overestimate aboveground carbon stocks in the Central Congo Basin.

PubMed

Kearsley, Elizabeth; de Haulleville, Thales; Hufkens, Koen; Kidimbu, Alidé; Toirambe, Benjamin; Baert, Geert; Huygens, Dries; Kebede, Yodit; Defourny, Pierre; Bogaert, Jan; Beeckman, Hans; Steppe, Kathy; Boeckx, Pascal; Verbeeck, Hans

2013-01-01

Policies to reduce emissions from deforestation and forest degradation largely depend on accurate estimates of tropical forest carbon stocks. Here we present the first field-based carbon stock data for the Central Congo Basin in Yangambi, Democratic Republic of Congo. We find an average aboveground carbon stock of 162 ± 20  Mg  C  ha(-1) for intact old-growth forest, which is significantly lower than stocks recorded in the outer regions of the Congo Basin. The best available tree height-diameter relationships derived for Central Africa do not render accurate canopy height estimates for our study area. Aboveground carbon stocks would be overestimated by 24% if these inaccurate relationships were used. The studied forests have a lower stature compared with forests in the outer regions of the basin, which confirms remotely sensed patterns. Additionally, we find an average soil carbon stock of 111 ± 24  Mg  C  ha(-1), slightly influenced by the current land-use change.

Streamlined system for purifying and quantifying a diverse library of compounds and the effect of compound concentration measurements on the accurate interpretation of biological assay results.

PubMed

Popa-Burke, Ioana G; Issakova, Olga; Arroway, James D; Bernasconi, Paul; Chen, Min; Coudurier, Louis; Galasinski, Scott; Jadhav, Ajit P; Janzen, William P; Lagasca, Dennis; Liu, Darren; Lewis, Roderic S; Mohney, Robert P; Sepetov, Nikolai; Sparkman, Darren A; Hodge, C Nicholas

2004-12-15

As part of an overall systems approach to generating highly accurate screening data across large numbers of compounds and biological targets, we have developed and implemented streamlined methods for purifying and quantitating compounds at various stages of the screening process, coupled with automated "traditional" storage methods (DMSO, -20 degrees C). Specifically, all of the compounds in our druglike library are purified by LC/MS/UV and are then controlled for identity and concentration in their respective DMSO stock solutions by chemiluminescent nitrogen detection (CLND)/evaporative light scattering detection (ELSD) and MS/UV. In addition, the compound-buffer solutions used in the various biological assays are quantitated by LC/UV/CLND to determine the concentration of compound actually present during screening. Our results show that LC/UV/CLND/ELSD/MS is a widely applicable method that can be used to purify, quantitate, and identify most small organic molecules from compound libraries. The LC/UV/CLND technique is a simple and sensitive method that can be easily and cost-effectively employed to rapidly determine the concentrations of even small amounts of any N-containing compound in aqueous solution. We present data to establish error limits for concentration determination that are well within the overall variability of the screening process. This study demonstrates that there is a significant difference between the predicted amount of soluble compound from stock DMSO solutions following dilution into assay buffer and the actual amount present in assay buffer solutions, even at the low concentrations employed for the assays. We also demonstrate that knowledge of the concentrations of compounds to which the biological target is exposed is critical for accurate potency determinations. Accurate potency values are in turn particularly important for drug discovery, for understanding structure-activity relationships, and for building useful empirical models of protein-ligand interactions. Our new understanding of relative solubility demonstrates that most, if not all, decisions that are made in early discovery are based upon missing or inaccurate information. Finally, we demonstrate that careful control of compound handling and concentration, coupled with accurate assay methods, allows the use of both positive and negative data in analyzing screening data sets for structure-activity relationships that determine potency and selectivity.

AirLab: a cloud-based platform to manage and share antibody-based single-cell research.

PubMed

Catena, Raúl; Özcan, Alaz; Jacobs, Andrea; Chevrier, Stephane; Bodenmiller, Bernd

2016-06-29

Single-cell analysis technologies are essential tools in research and clinical diagnostics. These methods include flow cytometry, mass cytometry, and other microfluidics-based technologies. Most laboratories that employ these methods maintain large repositories of antibodies. These ever-growing collections of antibodies, their multiple conjugates, and the large amounts of data generated in assays using specific antibodies and conditions makes a dedicated software solution necessary. We have developed AirLab, a cloud-based tool with web and mobile interfaces, for the organization of these data. AirLab streamlines the processes of antibody purchase, organization, and storage, antibody panel creation, results logging, and antibody validation data sharing and distribution. Furthermore, AirLab enables inventory of other laboratory stocks, such as primers or clinical samples, through user-controlled customization. Thus, AirLab is a mobile-powered and flexible tool that harnesses the capabilities of mobile tools and cloud-based technology to facilitate inventory and sharing of antibody and sample collections and associated validation data.

A guide to sugarbush stocking. Based on the crown diameter/D.b.h. relationship of open-grown sugar maples

Treesearch

H. Clay Smith; Carter B. Gibbs; Carter B. Gibbs

1970-01-01

Sugarbush managers have long needed a guide for determining the stocking of their sugar maple stands. The question is: for desirable sugar maple sap production, how many trees per acre are needed? To provide information about stocking, the USDA Forest Service's sugar maple sap production project at Burlington, Vermont, has made a regionwide study of the...

26 CFR 1.1366-2 - Limitations on deduction of passthrough items of an S corporation to its shareholders.

Code of Federal Regulations, 2010 CFR

2010-04-01

... shareholder's stock in the corporation (as determined under paragraph (a)(3)(i) of this section); and (ii) The... stock in an S corporation and of any indebtedness of the S corporation to the shareholder is not allowed... taxable years, with respect to the shareholder. For rules on determining the adjusted bases of stock of an...

Regeneration of Douglas-fir cutblocks on the Six Rivers National Forest in northwestern California

Treesearch

R. O. Strothmann

1979-01-01

A survey of 61 cutblocks planted since 1964 evaluated stocking of conifers (trees 1 foot tall or taller) on 2-milacre quadrats. Overall stocking percentage averaged 42.2 and ranged from 15 to 8 1. Overall number of trees per acre averaged 396. In the regression model, based on 36 cutblocks, better stocking was associated with high site class, northerly aspect,...

Modeling the uncertainty of estimating forest carbon stocks in China

NASA Astrophysics Data System (ADS)

Yue, T. X.; Wang, Y. F.; Du, Z. P.; Zhao, M. W.; Zhang, L. L.; Zhao, N.; Lu, M.; Larocque, G. R.; Wilson, J. P.

2015-12-01

Earth surface systems are controlled by a combination of global and local factors, which cannot be understood without accounting for both the local and global components. The system dynamics cannot be recovered from the global or local controls alone. Ground forest inventory is able to accurately estimate forest carbon stocks at sample plots, but these sample plots are too sparse to support the spatial simulation of carbon stocks with required accuracy. Satellite observation is an important source of global information for the simulation of carbon stocks. Satellite remote-sensing can supply spatially continuous information about the surface of forest carbon stocks, which is impossible from ground-based investigations, but their description has considerable uncertainty. In this paper, we validated the Lund-Potsdam-Jena dynamic global vegetation model (LPJ), the Kriging method for spatial interpolation of ground sample plots and a satellite-observation-based approach as well as an approach for fusing the ground sample plots with satellite observations and an assimilation method for incorporating the ground sample plots into LPJ. The validation results indicated that both the data fusion and data assimilation approaches reduced the uncertainty of estimating carbon stocks. The data fusion had the lowest uncertainty by using an existing method for high accuracy surface modeling to fuse the ground sample plots with the satellite observations (HASM-SOA). The estimates produced with HASM-SOA were 26.1 and 28.4 % more accurate than the satellite-based approach and spatial interpolation of the sample plots, respectively. Forest carbon stocks of 7.08 Pg were estimated for China during the period from 2004 to 2008, an increase of 2.24 Pg from 1984 to 2008, using the preferred HASM-SOA method.

Advanced nutrient root-feeding system for conveyor-type cylindrical plant growth facilities for microgravity.

PubMed

Berkovich, Yu A; Krivobok, N M; Krivobok, A S; Smolyanina, S O

2016-02-01

A compact and reliable automatic method for plant nutrition supply is needed to monitor and control space-based plant production systems. The authors of this study have designed a nutrient root-feeding system that minimizes and regulates nutrient and water supply without loss of crop yields in a space greenhouse. The system involves an ion-exchange fibrous artificial soil (AS) BIONA-V3(TM) as the root-inhabited medium; a pack with slow-release fertilizer as the main source of nitrogen, phosphorus, and potassium; and a cartridge with granular mineral-rich ionite (GMRI) as a source of calcium, magnesium, sulfur, and iron. A controller equipped with an electrical conductivity meter controls the solution flow and concentration of the solution in the mixing tank at specified values. Experiments showed that the fibrous AS-stabilized pH of the substrate solution within the range of 6.0-6.6 is favorable to the majority of crops. The experimental data confirmed that this technique allowed solution preparation for crops in space greenhouses by means of pumping water through the cartridge and minimization of the AS stock onboard the space vehicle. Copyright © 2015 The Committee on Space Research (COSPAR). Published by Elsevier Ltd. All rights reserved.

Stock in Trade: The Role of English in International Trade Proceedings.

ERIC Educational Resources Information Center

Cremer, Rolf D.; Willes, Mary J.

1991-01-01

Examines the use of English by merchandisers in Macao, where the required proficiency exceeds that these individuals can be expected to possess. Examples of serious language mistakes are given and contextual and other clues are identified. Possible solutions for these problems are suggested and potential directions of further enquiry are explored.…

Inactivation of Hepatitis A Virus (HAV) by Chlorine and Iodine in Water

DTIC Science & Technology

1986-11-01

treatment practices utilizing chemical disinfection, primarily chlorination, are generally believed to * be effective in producing microbiologically safe...OCl) in 1 liter of HDFW. Stock solution was then diluted in tesi water (halogen demand-free, 0.01M phosphate buffer, pH 4.5, 7.0 or 9.5 in initial

Valuing options in shot noise market

NASA Astrophysics Data System (ADS)

Laskin, Nick

2018-07-01

A new exactly solvable option pricing model has been introduced and elaborated. It is assumed that a stock price follows a Geometric shot noise process. An arbitrage-free integro-differential option pricing equation has been obtained and solved. The new Greeks have been analytically calculated. It has been shown that in diffusion approximation the developed option pricing model incorporates the well-known Black-Scholes equation and its solution. The stochastic dynamic origin of the Black-Scholes volatility has been uncovered. To model the observed market stock price patterns consisting of high frequency small magnitude and low frequency large magnitude jumps, the superposition of two Geometric shot noises has been implemented. A new generalized option pricing equation has been obtained and its exact solution was found. Merton's jump-diffusion formula for option price was recovered in diffusion approximation. Despite the non-Gaussian nature of probability distributions involved, the new option pricing model has the same degree of analytical tractability as the Black-Scholes model and the Merton jump-diffusion model. This attractive feature allows one to derive exact formulas to value options and option related instruments in the market with jump-like price patterns.

Inference for lidar-assisted estimation of forest growing stock volume

Treesearch

Ronald E. McRoberts; Erik Næsset; Terje Gobakken

2013-01-01

Estimates of growing stock volume are reported by the national forest inventories (NFI) of most countries and may serve as the basis for aboveground biomass and carbon estimates as required by an increasing number of international agreements. The probability-based (design-based) statistical estimators traditionally used by NFIs to calculate estimates are generally...

Investigation of sources, properties and preparation of distillate test fuels

NASA Technical Reports Server (NTRS)

Bowden, J. N.; Erwin, J.

1983-01-01

Distillate test fuel blends were generated for prescribed variations in composition and physical properties. Fuels covering a wide range in properties and composition which would provide a matrix of fuels for possible use in future combustion research programs were identified. Except for tetralin the blending components were all from typical refinery streams. Property variation blends span a boiling range within 150 C to 335 C, freezing point -23 C to -43 C, aromatic content 20 to 50 volume percent, hydrogen content 11.8 to 14.2 mass percent, viscosity 4 and 11 cSt (-20 C), and naphthalenes 8 and 16 volume percent. Composition variation blends were made with two base stocks, one paraffinic and the other napthenic. To each base stock was added each of three aromatic type fuels (alkyl benzenes, tetralin, and naphthalenes) for assigned initial boiling point, final boiling point, and hydrogen content. The hydrogen content was 13.5 mass percent for the paraffinic base stock blends and 12.5 mass percent and 11.5 mass percent for the naphthenic base stock blends. Sample 5-gallon quantities of all blends were prepared and analyzed.

A Novel Methodology for the Synthesis of Acyloxy Castor Polyol Esters: Low Pour Point Lubricant Base Stocks.

PubMed

Kamalakar, Kotte; Mahesh, Goli; Prasad, Rachapudi B N; Karuna, Mallampalli S L

2015-01-01

Castor oil, a non-edible oil containing hydroxyl fatty acid, ricinoleic acid (89.3 %) was chemically modified employing a two step procedure. The first step involved acylation (C(2)-C(6) alkanoic anhydrides) of -OH functionality employing a green catalyst, Kieselguhr-G and solvent free medium. The catalyst after reaction was filtered and reused several times without loss in activity. The second step is esterification of acylated castor fatty acids with branched mono alcohol, 2-ethylhexanol and polyols namely neopentyl glycol (NPG), trimethylolpropane (TMP) and pentaerythritol (PE) to obtain 16 novel base stocks. The base stocks when evaluated for different lubricant properties have shown very low pour points (-30 to -45°C) and broad viscosity ranges 20.27 cSt to 370.73 cSt, higher viscosity indices (144-171), good thermal and oxidative stabilities, and high weld load capacities suitable for multi-range industrial applications such as hydraulic fluids, metal working fluids, gear oil, forging and aviation applications. The study revealed that acylated branched mono- and polyol esters rich in monounsaturation is desirable for developing low pour point base stocks.

Out of sight but not out of mind: harmful effects of derelict traps in selected U.S. coastal waters.

PubMed

Arthur, Courtney; Sutton-Grier, Ariana E; Murphy, Peter; Bamford, Holly

2014-09-15

There is a paucity of data in the published literature on the ecological and economic impacts of derelict fishing traps (DFTs) in coastal ecosystems. We synthesized results from seven NOAA-funded trap fisheries studies around the United States and determined that DFT-caused losses to habitat and harvestable annual catch are pervasive, persistent, and largely preventable. Based on this synthesis, we identified key gaps to fill in order to better manage and prevent DFTs. We conclude with suggestions for developing a U.S. DFT management strategy including: (1) targeting studies to estimate mortality of fishery stocks, (2) assessing the economic impacts of DFTs on fisheries, (3) collaborating with the fishing industry to develop solutions to ghost fishing, and (4) examining the regional context and challenges resulting in DFTs to find effective policy solutions to manage, reduce, and prevent gear loss. Copyright © 2014 The Authors. Published by Elsevier Ltd.. All rights reserved.

Influence of Chemical Composition on Rupture Properties at 1200 Degrees F. of Forged Chromium-Cobalt-Nickel-Iron Base Alloys in Solution-Treated and Aged Condition

NASA Technical Reports Server (NTRS)

Reynolds, E E; Freeman, J W; White, A E

1951-01-01

The influence of systematic variations of chemical composition on rupture properties at 1200 degrees F. was determined for 62 modifications of a basic alloy containing 20 percent chromium, 20 percent nickel, 20 percent cobalt, 3 percent molybdenum, 2 percent tungsten, 1 percent columbium, 0.15 percent carbon, 1.7 percent manganese, 0.5 percent silicon, 0.12 percent nitrogen and the balance iron. These modifications included individual variations of each of 10 elements present and simultaneous variations of molybdenum, tungsten, and columbium. Laboratory induction furnace heats were hot-forged to round bar stock, solution-treated at 2200 degrees F., and aged at 1400 degrees F. The melting and fabrication conditions were carefully controlled in order to minimize all variable effects on properties except chemical composition. Information is presented which indicates that melting and hot-working conditions play an important role in high-temperature properties of alloys of the type investigated.

A mini-review on econophysics: Comparative study of Chinese and western financial markets

NASA Astrophysics Data System (ADS)

Zheng, Bo; Jiang, Xiong-Fei; Ni, Peng-Yun

2014-07-01

We present a review of our recent research in econophysics, and focus on the comparative study of Chinese and western financial markets. By virtue of concepts and methods in statistical physics, we investigate the time correlations and spatial structure of financial markets based on empirical high-frequency data. We discover that the Chinese stock market shares common basic properties with the western stock markets, such as the fat-tail probability distribution of price returns, the long-range auto-correlation of volatilities, and the persistence probability of volatilities, while it exhibits very different higher-order time correlations of price returns and volatilities, spatial correlations of individual stock prices, and large-fluctuation dynamic behaviors. Furthermore, multi-agent-based models are developed to simulate the microscopic interaction and dynamic evolution of the stock markets.

The price momentum of stock in distribution

NASA Astrophysics Data System (ADS)

Liu, Haijun; Wang, Longfei

2018-02-01

In this paper, a new momentum of stock in distribution is proposed and applied in real investment. Firstly, assuming that a stock behaves as a multi-particle system, its share-exchange distribution and cost distribution are introduced. Secondly, an estimation of the share-exchange distribution is given with daily transaction data by 3 σ rule from the normal distribution. Meanwhile, an iterative method is given to estimate the cost distribution. Based on the cost distribution, a new momentum is proposed for stock system. Thirdly, an empirical test is given to compare the new momentum with others by contrarian strategy. The result shows that the new one outperforms others in many places. Furthermore, entropy of stock is introduced according to its cost distribution.

Comparing field- and model-based standing dead tree carbon stock estimates across forests of the US

Treesearch

Chistopher W. Woodall; Grant M. Domke; David W. MacFarlane; Christopher M. Oswalt

2012-01-01

As signatories to the United Nation Framework Convention on Climate Change, the US has been estimating standing dead tree (SDT) carbon (C) stocks using a model based on live tree attributes. The USDA Forest Service began sampling SDTs nationwide in 1999. With comprehensive field data now available, the objective of this study was to compare field- and model-based...

Who continues to stock oral artemisinin monotherapy? Results of a provider survey in Myanmar.

PubMed

Thein, Si Thu; Sudhinaraset, May; Khin, Hnin Su Su; McFarland, Willi; Aung, Tin

2016-06-22

Artemisinin-based combination therapy (ACT) is a key strategy for global malaria elimination efforts. However, the development of artemisinin-resistant malaria parasites threatens progress and continued usage of oral artemisinin monotherapies (AMT) predisposes the selection of drug resistant strains. This is particularly a problem along the Myanmar/Thailand border. The artemisinin monotherapy replacement programme (AMTR) was established in 2012 to remove oral AMT from stocks in Myanmar, specifically by replacing oral AMT with quality-assured ACT and conducting behavioural change communication activities to the outlets dispensing anti-malarial medications. This study attempts to quantify the characteristics of outlet providers who continue to stock oral AMT despite these concerted efforts. A cross-sectional survey of all types of private sector outlets that were stocking anti-malarial drugs in 13 townships of Eastern Myanmar was implemented from July to August 2014. A total of 573 outlets were included. Bivariate and multivariable logistic regressions were conducted to assess outlet and provider-level characteristics associated with stocking oral AMT. In total, 2939 outlets in Eastern Myanmar were screened for presence of any anti-malarial drugs in August 2014. The study found that 573 (19.5 %) had some kind of oral anti-malarial drug in stock at the time of survey and among them, 96 (16.8 %) stocked oral AMT. In bivariate analyses, compared to health care facilities, itinerant drug vendors, retailers and health workers were less likely to stock oral AMT (33.3 vs 12.9, 10.0, 8.1 %, OR = 0.30, 0.22, 0.18, respectively). Providers who cut blister pack or sell partial courses (40.6 vs 11.7 %, OR 5.18, CI 3.18-8.44) and those who based their stock decision on consumer demand (32.8 vs 12.1 %, OR 3.54, CI 2.21-5.63) were more likely to stock oAMT. Multivariate logistic regressions produced similar significant associations. Private healthcare facilities and drug shops and providers who prioritize consumers' demand instead of recommended practices were more likely to stock oral AMT. Malaria elimination strategies should include targeted interventions to effectively reach those outlets.

Alternative models of climatic effects on sockeye salmon (Oncorhynchus nerka) productivity in Bristol Bay, Alaska, and the Fraser River, British Columbia

USGS Publications Warehouse

Adkison, M.; Peterman, R.; Lapointe, M.; Gillis, D.; Korman, J.

1996-01-01

We compare alternative models of sockeye salmon (Oncorhynchus nerka) productivity (returns per spawner) using more than 30 years of catch and escapement data for Bristol Bay, Alaska, and the Fraser River, British Columbia. The models examined include several alternative forms of models that incorporate climatic influences as well as models not based on climate. For most stocks, a stationary stock-recruitment relationship explains very little of the interannual variation in productivity. In Bristol Bay, productivity co-varies among stocks and appears to be strongly related to fluctuations in climate. The best model for Bristol Bay sockeye involved a change in the 1970s in the parameters of the Ricker stock-recruitment curve; the stocks generally became more productive. In contrast, none of the models of Fraser River stocks that we examined explained much of the variability in their productivity.

Real Time Updating Genetic Network Programming for Adapting to the Change of Stock Prices

NASA Astrophysics Data System (ADS)

Chen, Yan; Mabu, Shingo; Shimada, Kaoru; Hirasawa, Kotaro

The key in stock trading model is to take the right actions for trading at the right time, primarily based on the accurate forecast of future stock trends. Since an effective trading with given information of stock prices needs an intelligent strategy for the decision making, we applied Genetic Network Programming (GNP) to creating a stock trading model. In this paper, we propose a new method called Real Time Updating Genetic Network Programming (RTU-GNP) for adapting to the change of stock prices. There are three important points in this paper: First, the RTU-GNP method makes a stock trading decision considering both the recommendable information of technical indices and the candlestick charts according to the real time stock prices. Second, we combine RTU-GNP with a Sarsa learning algorithm to create the programs efficiently. Also, sub-nodes are introduced in each judgment and processing node to determine appropriate actions (buying/selling) and to select appropriate stock price information depending on the situation. Third, a Real Time Updating system has been firstly introduced in our paper considering the change of the trend of stock prices. The experimental results on the Japanese stock market show that the trading model with the proposed RTU-GNP method outperforms other models without real time updating. We also compared the experimental results using the proposed method with Buy&Hold method to confirm its effectiveness, and it is clarified that the proposed trading model can obtain much higher profits than Buy&Hold method.

Stock markets are not what we think they are: the key roles of cross-ownership and corporate treasury stock

NASA Astrophysics Data System (ADS)

Roehner, Bertrand M.

2005-03-01

We describe, document and statistically test three mechanisms by which corporations can influence or even control stock prices: (i) Parent and holding companies wield control over other publicly traded companies. (ii) Through clever management of treasury stock based on buyback programs and stock issuance, stock price fluctuations can be amplified or curbed. The shock of September 11, 2001 is used to test this effect. (iii) Finally, historical evidence shows that there is a close interdependence between the level of stock prices on the one hand and merger and acquisition activity on the other hand: on average, a 10% increase in the number of mergers brings about a 3% increase in the overall level of stock prices. If one adds up buybacks, initial public offerings and takeover transactions, all of which depend upon strategic decisions taken by corporate management, they represent on average 7.2% of the trade on the New York Stock Exchange over the period 1987-2003 (as much as 12% in specific years such as 1988). This perspective, in which the Boards of Directors of major companies “shepherd” the market, offers a natural interpretation of the so-called “herd behavior” observed in stock markets. The traditional view holds that, by driving profit expectations, corporations have an indirect role in shaping the market. In this paper, we suggest that over the last decades they became more and more the direct moving force of stock markets.

Prediction of Safety Stock Using Fuzzy Time Series (FTS) and Technology of Radio Frequency Identification (RFID) for Stock Control at Vendor Managed Inventory (VMI)

NASA Astrophysics Data System (ADS)

Mashuri, Chamdan; Suryono; Suseno, Jatmiko Endro

2018-02-01

This research was conducted by prediction of safety stock using Fuzzy Time Series (FTS) and technology of Radio Frequency Identification (RFID) for stock control at Vendor Managed Inventory (VMI). Well-controlled stock influenced company revenue and minimized cost. It discussed about information system of safety stock prediction developed through programming language of PHP. Input data consisted of demand got from automatic, online and real time acquisition using technology of RFID, then, sent to server and stored at online database. Furthermore, data of acquisition result was predicted by using algorithm of FTS applying universe of discourse defining and fuzzy sets determination. Fuzzy set result was continued to division process of universe of discourse in order to be to final step. Prediction result was displayed at information system dashboard developed. By using 60 data from demand data, prediction score was 450.331 and safety stock was 135.535. Prediction result was done by error deviation validation using Mean Square Percent Error of 15%. It proved that FTS was good enough in predicting demand and safety stock for stock control. For deeper analysis, researchers used data of demand and universe of discourse U varying at FTS to get various result based on test data used.

Are Vietnam and Chinese stock markets out of the US contagion effect in extreme events?

NASA Astrophysics Data System (ADS)

Nguyen, Cuong; Ishaq Bhatti, M.; Henry, Darren

2017-08-01

This paper employs Chi-plots, Kendall (K)-plots and three different copula functions to empirically examine the tail dependence between the US stock market and stock markets in Vietnam and China in order to test contagion effects pre- and post- the US subprime mortgage crisis. The results based on data between 2003 and 2011 indicate the presence of left tail dependence before and after the crisis suggesting no change in dependence structure, but there exists stronger left tail dependence between the US and Vietnam stock markets. It is observed that the US and Vietnam stock markets are more prone to crashing than booming together. For the Chinese market, the US and Shanghai stock markets exhibit left tail dependence before the crisis, but no evidence of post-crisis tail dependency. On the contrary, the Shenzhen stock market is independent of the US market before and after the crisis which implies that an extreme event in the US market is less likely to influence the Shenzhen stock market. This suggests that there is significant potential for risk diversification by investing in the Shenzhen market by US investors after the financial crisis. These results have not been documented in the existing literature and provide a new insight into risk diversification between the two important Asian emerging stock markets.

Outlook of the world steel cycle based on the stock and flow dynamics.

PubMed

Hatayama, Hiroki; Daigo, Ichiro; Matsuno, Yasunari; Adachi, Yoshihiro

2010-08-15

We present a comprehensive analysis of steel use in the future compiled using dynamic material flow analysis (MFA). A dynamic MFA for 42 countries depicted the global in-use stock and flow up to the end of 2005. On the basis of the transition of steel stock for 2005, the growth of future steel stock was then estimated considering the economic growth for every country. Future steel demand was estimated using dynamic analysis under the new concept of "stocks drive flows". The significant results follow. World steel stock reached 12.7 billion t in 2005, and has doubled in the last 25 years. The world stock in 2005 mainly consisted of construction (60%) and vehicles (10%). Stock in these end uses will reach 55 billion t in 2050, driven by a 10-fold increase in Asia. Steel demand will reach 1.8 billion t in 2025, then slightly decrease, and rise again by replacement of buildings. The forecast of demand clearly represents the industrial shift; at first the increase is dominated by construction, and then, after 2025, demand for construction decreases and demand for vehicles increases instead. This study thus provides the dynamic mechanism of steel stock and flow toward the future, which contributes to the design of sustainable steel use.

Wind tunnel analysis of the aerodynamic loads on rolling stock over railway embankments: the effect of shelter windbreaks.

PubMed

Avila-Sanchez, Sergio; Pindado, Santiago; Lopez-Garcia, Oscar; Sanz-Andres, Angel

2014-01-01

Wind-flow pattern over embankments involves an overexposure of the rolling stock travelling on them to wind loads. Windbreaks are a common solution for changing the flow characteristic in order to decrease unwanted effects induced by the presence of cross-wind. The shelter effectiveness of a set of windbreaks placed over a railway twin-track embankment is experimentally analysed. A set of two-dimensional wind tunnel tests are undertaken and results corresponding to pressure tap measurements over a section of a typical high-speed train are herein presented. The results indicate that even small-height windbreaks provide sheltering effects to the vehicles. Also, eaves located at the windbreak tips seem to improve their sheltering effect.

Wind Tunnel Analysis of the Aerodynamic Loads on Rolling Stock over Railway Embankments: The Effect of Shelter Windbreaks

PubMed Central

Avila-Sanchez, Sergio; Lopez-Garcia, Oscar; Sanz-Andres, Angel

2014-01-01

Wind-flow pattern over embankments involves an overexposure of the rolling stock travelling on them to wind loads. Windbreaks are a common solution for changing the flow characteristic in order to decrease unwanted effects induced by the presence of cross-wind. The shelter effectiveness of a set of windbreaks placed over a railway twin-track embankment is experimentally analysed. A set of two-dimensional wind tunnel tests are undertaken and results corresponding to pressure tap measurements over a section of a typical high-speed train are herein presented. The results indicate that even small-height windbreaks provide sheltering effects to the vehicles. Also, eaves located at the windbreak tips seem to improve their sheltering effect. PMID:25544954

Preparing Stocks. Learning Activity Pack and Instructor's Guide 5.10a. Commercial Foods and Culinary Arts Competency-Based Series. Section 5: Basic Food Preparation.

ERIC Educational Resources Information Center

Florida State Univ., Tallahassee. Center for Studies in Vocational Education.

This document consists of a learning activity packet (LAP) for the student and an instructor's guide for the teacher. The LAP is intended to acquaint occupational home economics students with the uses for and types of stocks and also gives information on how to cook, cool, and store stocks. Illustrated information sheets and learning activities…

Extrapolating existing soil organic carbon data to estimate soil organic carbon stocks below 20 cm

Treesearch

An-Min Wu; Cinzia Fissore; Charles H. Perry; An-Min Wu; Brent Dalzell; Barry T. Wilson

2015-01-01

Estimates of forest soil organic carbon stocks across the US are currently developed from expert opinion in STATSGO/SSURGO and linked to forest type. The results are reported to the US EPA as the official United States submission to the UN Framework Convention on Climate Change. Beginning in 2015, however, estimates of soil organic carbon (SOC) stocks will be based on...

The role of global in-use material stocks in the course of the socio-metabolic transition, from 1900 -2009

NASA Astrophysics Data System (ADS)

Wiedenhofer, Dominik; Lauk, Christian; Fishman, Tomer; Tanikawa, Hiroki; Eisenmenger, Nina; Krausmann, Fridolin

2014-05-01

During the global socio-metabolic transition into the fossil fuelled age in the 20th century, annual material use increased nearly 10-fold (Krausmann et al. 2009). A substantial part of these materials were used to expand societal stocks such as infrastructure, buildings, factories or machinery. Long service-lifetimes lead to an ongoing accumulation of in-use stocks and determine the availability of materials for reuse and recycling. Systematic knowledge about material stock dynamics is crucial for understanding possible future resource use trends, the potential for increased recycling and thereby inform the development of strategies towards more sustainable resource use. In this presentation we explore the relationship between material use and stock accumulation, estimating global material stocks in infrastructures, buildings and durable goods from 1900 - 2009 based on a dynamic material stocks and flows model. We apply a top-down modelling approach, tracking annual cohorts of inflows of stock-building materials throughout the time period. We utilize a global material flow database and auxiliary data sources covering the time period 1850 - 2009 (Krausmann et al., 2009; Schaffartzik et al. 2013) to distinguish inputs of 11 major stock building materials: concrete, asphalt, bricks/stones/tiles, sand/gravel/crushed rocks, copper, steel, aluminum,other metals, solid-wood products, paper and plastics. Two types of functions are then used to model the lifetimes of the materials in use: A uniform distribution is applied for materials with short lifetimes, while a normal distribution is applied for materials with longer lifetimes. Furthermore, end-of-life waste is subject to recycling, thereby turning into additional input flows of non-virgin materials. Due to the inherent uncertainty in such an exercise, we perform Monte-Carlo simulations, applying uncertainty ranges for all model parameters and the material inflow data introduced above. This allows us to a) identify further research & data requirements for improved stock estimations, b) discuss possible ranges of global material stocks in use and c) give an outlook on regionalized stock modelling exercises. In conclusion, we reflect on quantitative long term developments of global material stocks and discuss the relation of economic development and stocks. We finalize with reflections on the role of in-use stocks in ongoing socio-ecological transitions into the fossil-fuel based regime as well as implications for more sustainable resource use strategies in the light of the need for a new transition towards sustainability. Literature cited: Krausmann, Fridolin, Simone Gingrich, Nina Eisenmenger, Karl-Heinz Erb, Helmut Haberl, and Marina Fischer-Kowalski. "Growth in Global Materials Use, GDP and Population during the 20th Century." Ecological Economics 68, no. 10 (2009): 2696-2705. doi:10.1016/j.ecolecon.2009.05.007.

Modular Advanced Oxidation Process Enabled by Cathodic Hydrogen Peroxide Production

PubMed Central

2015-01-01

Hydrogen peroxide (H2O2) is frequently used in combination with ultraviolet (UV) light to treat trace organic contaminants in advanced oxidation processes (AOPs). In small-scale applications, such as wellhead and point-of-entry water treatment systems, the need to maintain a stock solution of concentrated H2O2 increases the operational cost and complicates the operation of AOPs. To avoid the need for replenishing a stock solution of H2O2, a gas diffusion electrode was used to generate low concentrations of H2O2 directly in the water prior to its exposure to UV light. Following the AOP, the solution was passed through an anodic chamber to lower the solution pH and remove the residual H2O2. The effectiveness of the technology was evaluated using a suite of trace contaminants that spanned a range of reactivity with UV light and hydroxyl radical (HO•) in three different types of source waters (i.e., simulated groundwater, simulated surface water, and municipal wastewater effluent) as well as a sodium chloride solution. Irrespective of the source water, the system produced enough H2O2 to treat up to 120 L water d–1. The extent of transformation of trace organic contaminants was affected by the current density and the concentrations of HO• scavengers in the source water. The electrical energy per order (EEO) ranged from 1 to 3 kWh m–3, with the UV lamp accounting for most of the energy consumption. The gas diffusion electrode exhibited high efficiency for H2O2 production over extended periods and did not show a diminution in performance in any of the matrices. PMID:26039560

50 CFR 600.610 - Factual findings for Federal preemption.

Code of Federal Regulations, 2010 CFR

2010-10-01

... consideration of relevant factors, including but not limited to, the catch (based on numbers, value, or weight... status (including migratory patterns and biological condition) of the stock or stocks of fish in the...

Tropical forest biomass estimation from truncated stand tables.

Treesearch

A. J. R. Gillespie; S. Brown; A. E. Lugo

1992-01-01

Total aboveground forest biomass may be estimated through a variety of techniques based on commercial inventory stand and stock tables. Stand and stock tables from tropical countries commonly omit trees bellow a certain commercial limit.

MyLabStocks: a web-application to manage molecular biology materials.

PubMed

Chuffart, Florent; Yvert, Gaël

2014-05-01

Laboratory stocks are the hardware of research. They must be stored and managed with mimimum loss of material and information. Plasmids, oligonucleotides and strains are regularly exchanged between collaborators within and between laboratories. Managing and sharing information about every item is crucial for retrieval of reagents, for planning experiments and for reproducing past experimental results. We have developed a web-based application to manage stocks commonly used in a molecular biology laboratory. Its functionalities include user-defined privileges, visualization of plasmid maps directly from their sequence and the capacity to search items from fields of annotation or directly from a query sequence using BLAST. It is designed to handle records of plasmids, oligonucleotides, yeast strains, antibodies, pipettes and notebooks. Based on PHP/MySQL, it can easily be extended to handle other types of stocks and it can be installed on any server architecture. MyLabStocks is freely available from: https://forge.cbp.ens-lyon.fr/redmine/projects/mylabstocks under an open source licence. © 2014 Laboratoire de Biologie Moleculaire de la Cellule CNRS. Yeast published by John Wiley & Sons, Ltd.

Simulating tropical carbon stocks and fluxes in a changing world using an individual-based forest model.

NASA Astrophysics Data System (ADS)

Fischer, Rico; Huth, Andreas

2014-05-01

Large areas of tropical forests are disturbed due to climate change and human influence. Experts estimate that the last remaining rainforests could be destroyed in less than 100 years with strong consequences for both developing and industrial countries. Using a modelling approach we analyse how disturbances modify carbon stocks and carbon fluxes of African rainforests. In this study we use the process-based, individual-oriented forest model FORMIND. The main processes of this model are tree growth, mortality, regeneration and competition. The study regions are tropical rainforests in the Kilimanjaro region and Madagascar. Modelling above and below ground carbon stocks, we analyze the impact of disturbances and climate change on forest dynamics and forest carbon stocks. Droughts and fire events change the structure of tropical rainforests. Human influence like logging intensify this effect. With the presented results we could establish new allometric relationships between forest variables and above ground carbon stocks in tropical regions. Using remote sensing techniques, these relationships would offer the possibility for a global monitoring of the above ground carbon stored in the vegetation.

A stock market forecasting model combining two-directional two-dimensional principal component analysis and radial basis function neural network.

PubMed

Guo, Zhiqiang; Wang, Huaiqing; Yang, Jie; Miller, David J

2015-01-01

In this paper, we propose and implement a hybrid model combining two-directional two-dimensional principal component analysis ((2D)2PCA) and a Radial Basis Function Neural Network (RBFNN) to forecast stock market behavior. First, 36 stock market technical variables are selected as the input features, and a sliding window is used to obtain the input data of the model. Next, (2D)2PCA is utilized to reduce the dimension of the data and extract its intrinsic features. Finally, an RBFNN accepts the data processed by (2D)2PCA to forecast the next day's stock price or movement. The proposed model is used on the Shanghai stock market index, and the experiments show that the model achieves a good level of fitness. The proposed model is then compared with one that uses the traditional dimension reduction method principal component analysis (PCA) and independent component analysis (ICA). The empirical results show that the proposed model outperforms the PCA-based model, as well as alternative models based on ICA and on the multilayer perceptron.

A Stock Market Forecasting Model Combining Two-Directional Two-Dimensional Principal Component Analysis and Radial Basis Function Neural Network

PubMed Central

Guo, Zhiqiang; Wang, Huaiqing; Yang, Jie; Miller, David J.

2015-01-01

In this paper, we propose and implement a hybrid model combining two-directional two-dimensional principal component analysis ((2D)2PCA) and a Radial Basis Function Neural Network (RBFNN) to forecast stock market behavior. First, 36 stock market technical variables are selected as the input features, and a sliding window is used to obtain the input data of the model. Next, (2D)2PCA is utilized to reduce the dimension of the data and extract its intrinsic features. Finally, an RBFNN accepts the data processed by (2D)2PCA to forecast the next day's stock price or movement. The proposed model is used on the Shanghai stock market index, and the experiments show that the model achieves a good level of fitness. The proposed model is then compared with one that uses the traditional dimension reduction method principal component analysis (PCA) and independent component analysis (ICA). The empirical results show that the proposed model outperforms the PCA-based model, as well as alternative models based on ICA and on the multilayer perceptron. PMID:25849483

The future of copper in China--A perspective based on analysis of copper flows and stocks.

PubMed

Zhang, Ling; Cai, Zhijian; Yang, Jiameng; Yuan, Zengwei; Chen, Yan

2015-12-01

This study attempts to speculate on the future of copper metabolism in China based on dynamic substance flow analysis. Based on tremendous growth of copper consumption over the past 63 years, China will depict a substantially increasing trend of copper in-use stocks for the next 30 years. The highest peak will be possibly achieved in 2050, with the maximum ranging between 163 Mt and 171 Mt. After that, total stocks are expected to slowly decline 147-154 Mt by the year 2080. Owing to the increasing demand of in-use stocks, China will continue to have a profound impact on global copper consumption with its high import dependence until around 2020, and the peak demand for imported copper are expected to approach 5.5 Mt/year. Thereafter, old scrap generated by domestic society will occupy an increasingly important role in copper supply. In around 2060, approximately 80% of copper resources could come from domestic recycling of old scrap, implying a major shift from primary production to secondary production. With regard to the effect of lifetime distribution uncertainties in different end-use sectors of copper stocks on the predict results, uncertainty evaluation was performed and found the model was relatively robust to these changes. Copyright © 2015 Elsevier B.V. All rights reserved.

A dynamic analysis of S&P 500, FTSE 100 and EURO STOXX 50 indices under different exchange rates.

PubMed

Chen, Yanhua; Mantegna, Rosario N; Pantelous, Athanasios A; Zuev, Konstantin M

2018-01-01

In this study, we assess the dynamic evolution of short-term correlation, long-term cointegration and Error Correction Model (hereafter referred to as ECM)-based long-term Granger causality between each pair of US, UK, and Eurozone stock markets from 1980 to 2015 using the rolling-window technique. A comparative analysis of pairwise dynamic integration and causality of stock markets, measured in common and domestic currency terms, is conducted to evaluate comprehensively how exchange rate fluctuations affect the time-varying integration among the S&P 500, FTSE 100 and EURO STOXX 50 indices. The results obtained show that the dynamic correlation, cointegration and ECM-based long-run Granger causality vary significantly over the whole sample period. The degree of dynamic correlation and cointegration between pairs of stock markets rises in periods of high volatility and uncertainty, especially under the influence of economic, financial and political shocks. Meanwhile, we observe the weaker and decreasing correlation and cointegration among the three developed stock markets during the recovery periods. Interestingly, the most persistent and significant cointegration among the three developed stock markets exists during the 2007-09 global financial crisis. Finally, the exchange rate fluctuations, also influence the dynamic integration and causality between all pairs of stock indices, with that influence increasing under the local currency terms. Our results suggest that the potential for diversifying risk by investing in the US, UK and Eurozone stock markets is limited during the periods of economic, financial and political shocks.

Body fat of stock-type horses predicted by rump fat thickness and deuterium oxide dilution and validated by near-infrared spectroscopy of dissected tissues.

PubMed

Ferjak, E N; Cavinder, C A; Burnett, D D; Argo, C Mc; Dinh, T T N

2017-10-01

Body condition score and percent body fat (BF; %) of horses are positively correlated with reproductive efficiency and are indicative of metabolic issues. However, BF in horses may be poorly predicted because current procedures are either subjective or dependent on one anatomical location. Therefore, the objectives of the current study were to compare 2 methods of predicting BF using rump fat thickness (RFT) and deuterium oxide (DO) dilution with actual tissue fat analysis by near-infrared spectroscopy (NIRS) in stock-type horses and to identify the relationship between BF and BCS. Twenty-four stock-type horses were selected to be humanely euthanized based on 3 primary criteria: geriatric, crippled, and/or unsafe. Approximately 20 h before slaughter, horses were weighed and BCS assessed to be 1 ( = 1; 433 kg), 2 ( = 1; 415 kg), 3 ( = 1; 376 kg), 4 ( = 7; 468 ± 13 kg), 5 ( = 10; 455 ± 11 kg), and 6 ( = 4; 493 ± 12 kg) and RFT was measured using ultrasonography. Blood samples were collected immediately before and 4 h after DO infusion (0.12 g/kg BW). Deuterium oxide concentration of plasma was determined by gas isotope ratio mass spectrometry. Horses were housed in a dry lot overnight before being individually sedated (1.1 mg xylazine/kg BW) and anesthetized using a jugular venipuncture (2.2 mg ketamine/kg BW), and potassium chloride (KCl) solution was administered to cease cardiac function before exsanguination. After euthanasia, horse carcasses were processed and dissected and tissues were collected for NIRS analysis. Body fat predicted by DO dilution was correlated with BF measured by NIRS analysis on various weight bases ( = 0.76 to 0.81, < 0.001), whereas no correlation was observed for BF predicted by RFT. A paired -test indicated that both DO dilution and RFT overestimated BF by 2.48 to 3.26% ( < 0.001) and 5.81 to 6.59% ( < 0.001), respectively, compared with NIRS analysis. Body condition scores affected BF measured by NIRS analysis ( ≤ 0.038) and predicted by DO dilution ( < 0.001) and RFT ( = 0.042). The current study provided evidence that DO dilution was a better prediction method for BF than RFT and that BCS may serve as a BF predictor in stock-type horses.

Econometric testing on linear and nonlinear dynamic relation between stock prices and macroeconomy in China

NASA Astrophysics Data System (ADS)

Borjigin, Sumuya; Yang, Yating; Yang, Xiaoguang; Sun, Leilei

2018-03-01

Many researchers have realized that there is a strong correlation between stock prices and macroeconomy. In order to make this relationship clear, a lot of studies have been done. However, the causal relationship between stock prices and macroeconomy has still not been well explained. A key point is that, most of the existing research adopts linear and stable models to investigate the correlation of stock prices and macroeconomy, while the real causality of that may be nonlinear and dynamic. To fill this research gap, we investigate the nonlinear and dynamic causal relationships between stock prices and macroeconomy. Based on the case of China's stock prices and acroeconomy measures from January 1992 to March 2017, we compare the linear Granger causality test models with nonlinear ones. Results demonstrate that the nonlinear dynamic Granger causality is much stronger than linear Granger causality. From the perspective of nonlinear dynamic Granger causality, China's stock prices can be viewed as "national economic barometer". On the one hand, this study will encourage researchers to take nonlinearity and dynamics into account when they investigate the correlation of stock prices and macroeconomy; on the other hand, our research can guide regulators and investors to make better decisions.

The association between attempted suicide and stock price movements: Evidence from Taiwan.

PubMed

Lin, Chung-Liang; Liu, Tsai-Ching; Chen, Chin-Shyan

2017-08-01

This study is the first comprehensive analysis to investigate the potential association between stock market fluctuations and attempted suicide events as measured by self-inflicted injuries treated in hospitalization. Using nationwide, 15-year population-based data from 1998 through 2012, we observe that the occurrences for the hospitalizations of attempted suicides are apparently predicted by stock price movements. A low stock price index, a daily fall in the stock index, and consecutive daily falls in the stock index have been shown to be associated with increased risk of hospitalization in patients with attempted suicide. More specifically, stock price index is found to be significant impact on attempted suicide in the 45-54 age groups of both genders, whilst daily change is significant for both genders in the 25-34 and 55-64 age groups and accumulated change is only significant in female aged 25-44 and above 65. On the basis of the results, relevant organizations should consider the suicidal factors that relate prime-working-age and near-retirement-age people to better carry out specific suicide prevention measures, and, meanwhile, encourage those people to pay less attention towards daily stock price movements. Copyright © 2017 Elsevier Ireland Ltd. All rights reserved.

Multidimensional scaling analysis of financial time series based on modified cross-sample entropy methods

NASA Astrophysics Data System (ADS)

He, Jiayi; Shang, Pengjian; Xiong, Hui

2018-06-01

Stocks, as the concrete manifestation of financial time series with plenty of potential information, are often used in the study of financial time series. In this paper, we utilize the stock data to recognize their patterns through out the dissimilarity matrix based on modified cross-sample entropy, then three-dimensional perceptual maps of the results are provided through multidimensional scaling method. Two modified multidimensional scaling methods are proposed in this paper, that is, multidimensional scaling based on Kronecker-delta cross-sample entropy (MDS-KCSE) and multidimensional scaling based on permutation cross-sample entropy (MDS-PCSE). These two methods use Kronecker-delta based cross-sample entropy and permutation based cross-sample entropy to replace the distance or dissimilarity measurement in classical multidimensional scaling (MDS). Multidimensional scaling based on Chebyshev distance (MDSC) is employed to provide a reference for comparisons. Our analysis reveals a clear clustering both in synthetic data and 18 indices from diverse stock markets. It implies that time series generated by the same model are easier to have similar irregularity than others, and the difference in the stock index, which is caused by the country or region and the different financial policies, can reflect the irregularity in the data. In the synthetic data experiments, not only the time series generated by different models can be distinguished, the one generated under different parameters of the same model can also be detected. In the financial data experiment, the stock indices are clearly divided into five groups. Through analysis, we find that they correspond to five regions, respectively, that is, Europe, North America, South America, Asian-Pacific (with the exception of mainland China), mainland China and Russia. The results also demonstrate that MDS-KCSE and MDS-PCSE provide more effective divisions in experiments than MDSC.

Approaches to improve the stability of the antiviral agent UC781 in aqueous solutions.

PubMed

Damian, Festo; Fabian, Judit; Friend, David R; Kiser, Patrick F

2010-08-30

In this work, we evaluated the chemical stability profiles of UC781 based solutions to identify excipients that stabilize the microbicidal agent UC781. When different antioxidants were added to UC781 in sulfobutylether-beta-cyclodextrin (SBE-beta-CD) solutions and subjected to a 50 degrees C stability study, it was observed that EDTA was a better stabilizing agent than sodium metabisulfite, glutathione or ascorbic acid. Some antioxidants accelerated the degradation of UC781, suggesting metal-catalyzed degradation of UC781. Furthermore, we observed substantial degradation of UC781 when stored in 1% Tween 80 and 1% DMSO solutions alone or in those with 10mM EDTA. On the other hand, improved stability of UC781 in the presence of 100 and 200mM of EDTA was observed in these solutions. The addition of both EDTA and citric acid in the stock solutions resulted in recovery of more than 60% of UC781 after 12 weeks. Generally, 10% SBE-beta-CD in the presence of EDTA and citric acid stabilized UC781 solutions: the amount of UC781 recovered approaching 95% after 12 weeks of storage at 40 degrees C. We also showed that the desulfuration reaction of the UC781 thioamide involves oxygen by running solution stability studies in deoxygenated media. Improved stability of UC781 in the present study indicates that the incorporation of EDTA, citric acid and SBE-beta-CD and the removal of oxygen in formulations of this drug will aid in increasing the stability of UC781 where solutions of the drug are required. Published by Elsevier B.V.

Evaluation of total alloplastic temporo-mandibular joint replacement with two different types of prostheses: A three-year prospective study

PubMed Central

Gonzalez-Perez-Somarriba, Borja; Centeno, Gabriel; Vallellano, Carpóforo; Montes-Carmona, Jose-Francisco

2016-01-01

Background Temporo-Mandibular Joint (TMJ) replacement has been used clinically for years. The objective of this study was to evaluate outcomes achieved in patients with two different categories of TMJ prostheses. Material and Methods All patients who had a TMJ replacement (TMJR) implanted during the study period from 2006 through 2012 were included in this 3-year prospective study. All procedures were performed using the Biomet Microfixation TMJ Replacement System, and all involved replacing both the skull base component (glenoid fossa) and the mandibular condyle. Results Fifty-seven patients (38 females and 19 males), involving 75 TMJs with severe disease requiring reconstruction (39 unilateral, 18 bilateral) were operated on consecutively, and 68 stock prostheses and 7 custom-made prostheses were implanted. The mean age at surgery was 52.6±11.5 years in the stock group and 51.8±11.7 years in the custom-made group. In the stock group, after three years of TMJR, results showed a reduction in pain intensity from 6.4±1.4 to 1.6±1.2 (p<0.001), and an improvement in jaw opening from 2.7±0.9 cm to 4.2±0.7 cm (p<0.001). In the custom-made group, after three years of TMJR, results showed a reduction in pain intensity from 6.0±1.6 to 2.2±0.4 (p<0.001), and an improvement in jaw opening from 1.5±0.5 cm to 4.3±0.6 cm (p<0.001). No statistically significant differences between two groups were detected. Conclusions The results of this three-year prospective study support the surgical placement of TMJ prostheses (stock prosthetic, and custom-made systems), and show that the approach is efficacious and safe, reduces pain, and improves maximum mouth opening movement, with few complications. As such, TMJR represents a viable technique and a stable long-term solution for cranio-mandibular reconstruction in patients with irreversible end-stage TMJ disease. Comparing stock and custom-made groups, no statistically significant differences were detected with respect to pain intensity reduction and maximum mouth opening improvement. Key words:Temporo-mandibular joint, temporo-mandibular joint replacement, prosthesis, biomaterials, biomedical engineering, computer-aided design and manufacturing. PMID:27475697

Correlation analysis of the Korean stock market: Revisited to consider the influence of foreign exchange rate

NASA Astrophysics Data System (ADS)

Jo, Sang Kyun; Kim, Min Jae; Lim, Kyuseong; Kim, Soo Yong

2018-02-01

We investigated the effect of foreign exchange rate in a correlation analysis of the Korean stock market using both random matrix theory and minimum spanning tree. We collected data sets which were divided into two types of stock price, the original stock price in Korean Won and the price converted into US dollars at contemporary foreign exchange rates. Comparing the random matrix theory based on the two different prices, a few particular sectors exhibited substantial differences while other sectors changed little. The particular sectors were closely related to economic circumstances and the influence of foreign financial markets during that period. The method introduced in this paper offers a way to pinpoint the effect of exchange rate on an emerging stock market.

Financial technical indicator based on chaotic bagging predictors for adaptive stock selection in Japanese and American markets

NASA Astrophysics Data System (ADS)

Suzuki, Tomoya; Ohkura, Yuushi

2016-01-01

In order to examine the predictability and profitability of financial markets, we introduce three ideas to improve the traditional technical analysis to detect investment timings more quickly. Firstly, a nonlinear prediction model is considered as an effective way to enhance this detection power by learning complex behavioral patterns hidden in financial markets. Secondly, the bagging algorithm can be applied to quantify the confidence in predictions and compose new technical indicators. Thirdly, we also introduce how to select more profitable stocks to improve investment performance by the two-step selection: the first step selects more predictable stocks during the learning period, and then the second step adaptively and dynamically selects the most confident stock showing the most significant technical signal in each investment. Finally, some investment simulations based on real financial data show that these ideas are successful in overcoming complex financial markets.

On fitting the Pareto Levy distribution to stock market index data: Selecting a suitable cutoff value

NASA Astrophysics Data System (ADS)

Coronel-Brizio, H. F.; Hernández-Montoya, A. R.

2005-08-01

The so-called Pareto-Levy or power-law distribution has been successfully used as a model to describe probabilities associated to extreme variations of stock markets indexes worldwide. The selection of the threshold parameter from empirical data and consequently, the determination of the exponent of the distribution, is often done using a simple graphical method based on a log-log scale, where a power-law probability plot shows a straight line with slope equal to the exponent of the power-law distribution. This procedure can be considered subjective, particularly with regard to the choice of the threshold or cutoff parameter. In this work, a more objective procedure based on a statistical measure of discrepancy between the empirical and the Pareto-Levy distribution is presented. The technique is illustrated for data sets from the New York Stock Exchange (DJIA) and the Mexican Stock Market (IPC).

Sector Identification in a Set of Stock Return Time Series Traded at the London Stock Exchange

NASA Astrophysics Data System (ADS)

Coronnello, C.; Tumminello, M.; Lillo, F.; Micciche, S.; Mantegna, R. N.

2005-09-01

We compare some methods recently used in the literature to detect the existence of a certain degree of common behavior of stock returns belonging to the same economic sector. Specifically, we discuss methods based on random matrix theory and hierarchical clustering techniques. We apply these methods to a portfolio of stocks traded at the London Stock Exchange. The investigated time series are recorded both at a daily time horizon and at a 5-minute time horizon. The correlation coefficient matrix is very different at different time horizons confirming that more structured correlation coefficient matrices are observed for long time horizons. All the considered methods are able to detect economic information and the presence of clusters characterized by the economic sector of stocks. However, different methods present a different degree of sensitivity with respect to different sectors. Our comparative analysis suggests that the application of just a single method could not be able to extract all the economic information present in the correlation coefficient matrix of a stock portfolio.

The Mediterranean and Black Sea Fisheries at Risk from Overexploitation

PubMed Central

Tsikliras, Athanassios C.; Dinouli, Anny; Tsiros, Vasileios-Zikos; Tsalkou, Eleni

2015-01-01

The status of the Mediterranean and Black Sea fisheries was evaluated for the period 1970-2010 on a subarea basis, using various indicators including the temporal variability of total landings, the number of recorded stocks, the mean trophic level of the catch, the fishing-in-balance index and the catch-based method of stock classification. All indicators confirmed that the fisheries resources of the Mediterranean and Black Sea are at risk from overexploitation. The pattern of exploitation and the state of stocks differed among the western (W), central (C) and eastern (E) Mediterranean subareas and the Black Sea (BS), with the E Mediterranean and BS fisheries being in a worst shape. Indeed, in the E Mediterranean and the BS, total landings, mean trophic level of the catch and fishing-in-balance index were declining, the cumulative percentage of overexploited and collapsed stocks was higher, and the percentage of developing stocks was lower, compared to the W and C Mediterranean. Our results confirm the need for detailed and extensive stock assessments across species that will eventually lead to stocks recovering through conservation and management measures. PMID:25793975

Not all that glitters is RMT in the forecasting of risk of portfolios in the Brazilian stock market

NASA Astrophysics Data System (ADS)

Sandoval, Leonidas; Bortoluzzo, Adriana Bruscato; Venezuela, Maria Kelly

2014-09-01

Using stocks of the Brazilian stock exchange (BM&F-Bovespa), we build portfolios of stocks based on Markowitz's theory and test the predicted and realized risks. This is done using the correlation matrices between stocks, and also using Random Matrix Theory in order to clean such correlation matrices from noise. We also calculate correlation matrices using a regression model in order to remove the effect of common market movements and their cleaned versions using Random Matrix Theory. This is done for years of both low and high volatility of the Brazilian stock market, from 2004 to 2012. The results show that the use of regression to subtract the market effect on returns greatly increases the accuracy of the prediction of risk, and that, although the cleaning of the correlation matrix often leads to portfolios that better predict risks, in periods of high volatility of the market this procedure may fail to do so. The results may be used in the assessment of the true risks when one builds a portfolio of stocks during periods of crisis.

Stock market index prediction using neural networks

NASA Astrophysics Data System (ADS)

Komo, Darmadi; Chang, Chein-I.; Ko, Hanseok

1994-03-01

A neural network approach to stock market index prediction is presented. Actual data of the Wall Street Journal's Dow Jones Industrial Index has been used for a benchmark in our experiments where Radial Basis Function based neural networks have been designed to model these indices over the period from January 1988 to Dec 1992. A notable success has been achieved with the proposed model producing over 90% prediction accuracies observed based on monthly Dow Jones Industrial Index predictions. The model has also captured both moderate and heavy index fluctuations. The experiments conducted in this study demonstrated that the Radial Basis Function neural network represents an excellent candidate to predict stock market index.

The effect of stocking with 0+ year age-class Atlantic salmon Salmo salar fry: a case study from the River Bush, Northern Ireland.

PubMed

Kennedy, R J; Crozier, W W; Allen, M

2012-10-01

An enhancement programme based on stocking 0+ year age-class Atlantic salmon Salmo salar, conducted in the River Bush, Northern Ireland, U.K. over the period 1996-2005, was reviewed with reference to the performance and biological characteristics of wild fish. Wild ova to 0+ year fry (summer) survival was c. 8% with subsequent wild 0+ year fry-to-smolt survival c. 9%. Stocked unfed 0+ year juveniles gave c. 1% survival to smolt whilst fed 0+ year S. salar stocked in late summer exhibited survival at c. 5%. Stocking with unfed and fed fry contributed to increased smolt production and helped attain local management objectives between 2001 and 2005. Significant differences in biological characteristics were observed between wild and stocked-origin fish. Wild-smolt cohorts were dominated by 2+ year age-class fish on the River Bush whilst smolts originating from fed fry mostly comprised younger 1+ year individuals. The mean mass of 1+ year smolts derived from stocked fed fry was significantly lower than that of wild 1+ year smolts, although these differences were not evident between older age classes. Differences in run timing between wild smolts and smolts derived from stocked fry were also apparent with the stocked-origin fish tending to run earlier than wild fish. Although the stocking exercise was useful in terms of maximizing freshwater production, concerns over the quality of stocked-origin recruits and the long term consequences for productivity are highlighted. © 2012 The Authors. Journal of Fish Biology © 2012 The Fisheries Society of the British Isles.

Spectrophotometric determination of the total flavonoid content in Ocimum basilicum L. (Lamiaceae) leaves

PubMed Central

da Silva, Layzon Antonio Lemos; Pezzini, Bianca Ramos; Soares, Luciano

2015-01-01

Background: The chemical characterization is essential to validate the pharmaceutical use of vegetable raw materials. Ultraviolet spectroscopy is an important technique to determine flavonoids, which are important active compounds from Ocimum basilicum. Objective: The objective of this work was to optimize a spectrophotometric method, based on flavonoid-aluminum chloride (AlCl3) complexation to determine the total flavonoid content (TFC) in leaves of O. basilicum (herbal material), using response surface methodology. Materials and Methods: The effects of (1) the herbal material: Solvent ratio (0.02, 0.03, 0.05, 0.07, and 0.08 g/mL), (2) stock solution volume (0.8, 2.3, 4.4, 6.5, and 8.0 mL) and (3) AlCl3 volume (0.8, 1.0, 1.2, 1.4, and 1.6 mL) on the TFC were evaluated. The analytical performance parameters precision, linearity and robustness of the method were tested. Results: The herbal material: Solvent ratio and stock solution volume showed an important influence on the method response. After choosing the optimized conditions, the method exhibited a precision (RSD%) lower than 6% for repeatability (RSD%) and lower than 8% for intermediate precision (on the order of literature values for biotechnological methods), coefficient of correlation of 0.9984, and no important influence could be observed for variations of the time of complexation with AlCl3. However, the time and temperature of extraction were critical for TFC method and must be carefully controlled during the analysis. Conclusion: Thus, this study allowed the optimization of a simple, fast and precise method for the determination of the TFC in leaves of O. basilicum, which can be used to support the quality assessment of this herbal material. PMID:25709217

Preliminary results from direct-to-facility vaccine deliveries in Kano, Nigeria.

PubMed

Aina, Muyi; Igbokwe, Uchenna; Jegede, Leke; Fagge, Rabiu; Thompson, Adam; Mahmoud, Nasir

2017-04-19

As part of its vaccine supply chain redesign efforts, Kano state now pushes vaccines directly from 6 state stores to primary health centers equipped with solar refrigerators. Our objective is to describe preliminary results from the first 20months of Kano's direct vaccine delivery operations. This is a retrospective review of Kano's direct vaccine delivery program. We analyzed trends in health facility vaccine stock levels, and examined the relationship between stock-out rates and each of cascade vaccine deliveries and timeliness of deliveries. Analysis of vaccination trends was based on administrative data from 27 sentinel health facilities. Costs for both the in-sourced and out-sourced approaches were estimated using a bottoms-up model-based approach. Overall stock adequacy increased from 54% in the first delivery cycle to 68% by cycle 33. Conversely, stock-out rates decreased from 41% to 10% over the same period. Similar trends were observed in the out-sourced and in-sourced programs. Stock-out rates rose incrementally with increasing number of cascade facilities, and delays in vaccine deliveries correlated strongly with stock-out rates. Recognizing that stock availability is one of many factors contributing to vaccinations, we nonetheless compared pre- and post- direct deliveries vaccinations in sentinel facilities, and found statistically significant upward trends for 4 out of 6 antigens. 1 antigen (measles) showed an upward trend that was not statistically significant. Hepatitis b vaccinations declined during the period. Overall, there appeared to be a one-year lag between commencement of direct deliveries and the increase in number of vaccinations. Weighted average cost per delivery is US$29.8 and cost per child immunized is US$0.7 per year. Direct vaccine delivery to health facilities in Kano, through a streamlined architecture, has resulted in decreased stock-outs and improved stock adequacy. Concurrent operation of insourced and outsourced programs has enabled Kano build in-house logistics capabilities. Copyright © 2017 The Authors. Published by Elsevier Ltd.. All rights reserved.

Linking plant functional traits and forest carbon stocks in the Congo Basin

NASA Astrophysics Data System (ADS)

Kearsley, Elizabeth; Verbeeck, Hans; Hufkens, Koen; Lewis, Simon; Huygens, Dries; Beeckman, Hans; Steppe, Kathy; Boeckx, Pascal

2013-04-01

Accurate estimates of the amount of carbon stored in tropical forests represent crucial baseline data for recent climate change mitigation policies. Such data are needed to quantify possible emissions due to deforestation and forest degradation, and to evaluate the potential of these forests to act as carbon sinks. Currently, only rough estimates of the carbon stocks for Central African tropical forests are available due to a lack of field data, and little is known about the response of these stocks to climate change. We present the first ground-based carbon stock data for the central Congo Basin in Yangambi, D. R. Congo, based on data of 20 inventory plots of 1 ha covering different forest types. We found an average aboveground carbon stock of 163 ± 19 Mg C ha-1 for intact old-growth forest, which is significantly lower than the stocks recorded in the outer regions of the Congo Basin. Commonly studied drivers for variations of carbon stocks include climatic and edaphic factors, but detailed trait-based studies are lacking. We identified a significant difference in height-diameter relations across the Congo Basin as a driver for spatial differences in carbon stocks. The study of a more detailed interaction of the environment and the available tree species pool as drivers for differences in carbon storage could have large implications. The effect of the species pool on carbon storage can be large since species differ in their ability to sequester carbon, and the collective functional characteristics of plant communities could be a major driver of carbon accumulation. The use of a trait-based approach shows high potential for identifying and quantifying carbon stocks as an ecosystem service. We test for associations between functional trait values and carbon storage across multiple regrowth and old-growth forests types in the Yangambi study area, with soil properties and climate similar for all plots. A selection of traits associated with carbon dynamics is made, including leaf traits (specific leaf area, leaf dry matter content, leaf carbon concentration, leaf nitrogen and phosphorus concentration, 13C, 15N, 18O), stem traits (wood density, vessel diameter), and vegetative traits (tree height, light tolerance), studying 990 individuals covering 111 species. To develop a more coherent understanding of ecosystem functioning, the related carbon sequestration, and the contribution of climate and soil factors in tropical forests in the Congo Basin, we present a preliminary spatial study of plant functional traits and diversity by comparing several sites across the Congo Basin.

Complementary Spectroscopic Assays for Investigating Protein-Ligand Binding Activity: A Project for the Advanced Chemistry Laboratory

ERIC Educational Resources Information Center

Mascotti, David P.; Waner, Mark J.

2010-01-01

A protein-ligand binding, guided-inquiry laboratory project with potential application across the advanced undergraduate curriculum is described. At the heart of the project are fluorescence and spectrophotometric assays utilizing biotin-4-fluorescein and streptavidin. The use of the same stock solutions for an assay that may be examined by two…

Determining Stocking Levels in Young, Mixed Hardwood Stands in the North Carolina Piedmmont

Treesearch

Jamie L. Schuler; Daniel J. Robison

2004-01-01

Upland Piedmont hardwood stands represent an important forest type in North Carolina and the Southeastern United States. Many of these forests are being converted to other land uses. A solution to maintaining these forest types lies in increasing productivity and profitability of this resource. This implies a shift from traditional, extensive management to more...

77 FR 34448 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-06-11

... Rules and Procedures in Order To Approve Apex Clearing Corporation, f/k/a Ridge Clearing and Outsourcing... Clearing Corporation, f/k/a Ridge Clearing and Outsourcing Solutions, Inc. (``Apex Clearing'') as an NSX... regarding the application process for ETP Holders in order to immediately approve Apex Clearing as an NSX...

Methylene Blue-Ascorbic Acid: An Undergraduate Experiment in Kinetics.

ERIC Educational Resources Information Center

Snehalatha, K. C.; And Others

1997-01-01

Describes a laboratory exercise involving methylene blue and L-ascorbic acid in a simple clock reaction technique to illustrate the basic concepts of chemical kinetics. If stock solutions are supplied and each type of experiment takes no more than half an hour, the entire investigation can be completed in three practical sessions of three hours…

The effect of advance growth on ponderosa pine seedling mortality at Challenge Experimental Forest

Treesearch

Dale O. Hall

1963-01-01

In seed-tree cuttings at Challenge Experimental Forest, preliminary data show that as advance-growth stocking (20 inches in d.b.h. or less ) increased from 11 t o 49 square feet, seedling mortality increased from 4 to 32 percent (based on stocked mil-acre plots). A comparable increase in the stocking of seed trees over 20 inches in d .b.h. did not increase mortality....

Transient heat transfer in viscous rarefied gas between concentric cylinders. Effect of curvature

NASA Astrophysics Data System (ADS)

Gospodinov, P.; Roussinov, V.; Dankov, D.

2015-10-01

The thermoacoustic waves arising in cylindrical or planar Couette rarefied gas flow between rotating cylinders is studied in the cases of suddenly cylinder (active) wall velocity direction turn on. An unlimited increase in the radius of the inner cylinder flow can be interpreted as Couette flow between the two flat plates. Based on the developed in previous publications Navier-Stockes-Fourier (NSF) model and Direct Simulation Monte Carlo (DSMC) method and their numerical solutions, are considered transient processes in the gas phase. Macroscopic flow characteristics (velocity, density, temperature) are received. The cylindrical flow cases for fixed velocity and temperature of the both walls are considered. The curvature effects over the wave's distribution and attenuation are studied numerically.

Tropical Soil Carbon Stocks do not Reflect Aboveground Forest Biomass Across Geological and Rainfall Gradients

NASA Astrophysics Data System (ADS)

Cusack, D. F.; Markesteijn, L.; Turner, B. L.

2016-12-01

Soil organic carbon (C) dynamics present a large source of uncertainty in global C cycle models, and inhibit our ability to predict effects of climate change. Tropical wet and seasonal forests exert a disproportionate influence on the global C cycle relative to their land area because they are the most C-rich ecosystems on Earth, containing 25-40% of global terrestrial C stocks. While significant advances have been made to map aboveground C stocks in tropical forests, determining soil C stocks using remote sensing technology is still not possible for closed-canopy forests. It is unclear to what extent aboveground C stocks can be used to predict soil C stocks across tropical forests. Here we present 1-m-deep soil organic C stocks for 42 tropical forest sites across rainfall and geological gradients in Panama. We show that soil C stocks do not correspond to aboveground plant biomass or to litterfall productivity in these humid tropical forests. Rather, soil C stocks were strongly and positively predicted by fine root biomass, soil clay content, and rainfall (R2 = 0.47, p < 0.05). Fine root biomass, in turn, was most strongly predicted by total extractable soil base cations (R2 = 0.24, p < 0.05, negative relationship). Our measures of tropical soil C and its relationships with climatic and soil chemical characteristics form an important basis for improving model estimates of soil C stocks and predictions of climate change effects on tropical C storage.

What stock market returns to expect for the future?

PubMed

Diamond, P A

2000-01-01

In evaluating proposals for reforming Social Security that involve stock investments, the Office of the Chief Actuary (OCACT) has generally used a 7.0 percent real return for stocks. The 1994-96 Advisory Council specified that OCACT should use that return in making its 75-year projections of investment-based reform proposals. The assumed ultimate real return on Treasury bonds of 3.0 percent implies a long-run equity premium of 4.0 percent. There are two equity-premium concepts: the realized equity premium, which is measured by the actual rates of return; and the required equity premium, which investors expect to receive for being willing to hold available stocks and bonds. Over the past two centuries, the realized premium was 3.5 percent on average, but 5.2 percent for 1926 to 1998. Some critics argue that the 7.0 percent projected stock returns are too high. They base their arguments on recent developments in the capital market, the current high value of the stock market, and the expectation of slower economic growth. Increased use of mutual funds and the decline in their costs suggest a lower required premium, as does the rising fraction of the American public investing in stocks. The size of the decrease is limited, however, because the largest cost savings do not apply to the very wealthy and to large institutional investors, who hold a much larger share of the stock market's total value than do new investors. These trends suggest a lower equity premium for projections than the 5.2 percent of the past 75 years. Also, a declining required premium is likely to imply a temporary increase in the realized premium because a rising willingness to hold stocks tends to increase their price. Therefore, it would be a mistake during a transition period to extrapolate what may be a temporarily high realized return. In the standard (Solow) economic growth model, an assumption of slower long-run growth lowers the marginal product of capital if the savings rate is constant. But lower savings as growth slows should partially or fully offset that effect. The present high stock prices, together with projected slow economic growth, are not consistent with a 7.0 percent return. With a plausible level of adjusted dividends (dividends plus net share repurchases), the ratio of stock value to gross domestic product (GDP) would rise more than 20-fold over 75 years. Similarly, the steady-state Gordon formula--that stock returns equal the adjusted dividend yield plus the growth rate of stock prices (equal to that of GDP)--suggests a return of roughly 4.0 percent to 4.5 percent. Moreover, when relative stock values have been high, returns over the following decade have tended to be low. To eliminate the inconsistency posed by the assumed 7.0 percent return, one could assume higher GDP growth, a lower long-run stock return, or a lower short-run stock return with a 7.0 percent return on a lower base thereafter. For example, with an adjusted dividend yield of 2.5 percent to 3.0 percent, the market would have to decline about 35 percent to 45 percent in real terms over the next decade to reach steady state. In short, either the stock market is overvalued and requires a correction to justify a 7.0 percent return thereafter, or it is correctly valued and the long-run return is substantially lower than 7.0 percent (or some combination). This article argues that the "overvalued" view is more convincing, since the "correctly valued" hypothesis implies an implausibly small equity premium. Although OCACT could adopt a lower rate for the entire 75-year period, a better approach would be to assume lower returns over the next decade and a 7.0 percent return thereafter.

Mapping the Sensitivity of the Public Emotion to the Movement of STOCK Market Value: a Case Study of Manhattan

NASA Astrophysics Data System (ADS)

Kang, Y.; Wang, J.; Wang, Y.; Angsuesser, S.; Fei, T.

2017-09-01

We examined whether emotion expressed by users in social media can be influenced by stock market index or can predict the fluctuation of the stock market index. We collected the emotion data by using face detection technology and emotion cognition services for photos uploaded to Flickr. Each face's emotion was described in 8 dimensions the location was also recorded. An emotion score index was defined based on the combination of all 8 dimensions of emotion calculated by principal component analysis. The correlation coefficients between the stock market values and emotion scores are significant (R > 0.59 with p < 0.01). Using Granger Causality analysis for cause and effect detection, we found that users' emotion is influenced by stock market value change. A multiple linear regression model was established (R-square = 0.76) to explore the potential factors that influence the emotion score. Finally, a sensitivity map was created to show sensitive areas where human emotion is easily affected by the stock market changes. We concluded that in Manhattan region: (1) there is an obvious relationship between human emotion and stock market fluctuation; (2) emotion change follows the movements of the stock market; (3) the Times Square and Broadway Theatre are the most sensitive regions in terms of public emotional reaction to the economy represented by stock value.

Optimal Placement Method of RFID Readers in Industrial Rail Transport for Uneven Rail Traflc Volume Management

NASA Astrophysics Data System (ADS)

Rakhmangulov, Aleksandr; Muravev, Dmitri; Mishkurov, Pavel

2016-11-01

The issue of operative data reception on location and movement of railcars is significant the constantly growing requirements of the provision of timely and safe transportation. The technical solution for efficiency improvement of data collection on rail rolling stock is the implementation of an identification system. Nowadays, there are several such systems, distinguished in working principle. In the authors' opinion, the most promising for rail transportation is the RFID technology, proposing the equipping of the railway tracks by the stationary points of data reading (RFID readers) from the onboard sensors on the railcars. However, regardless of a specific type and manufacturer of these systems, their implementation is affiliated with the significant financing costs for large, industrial, rail transport systems, owning the extensive network of special railway tracks with a large number of stations and loading areas. To reduce the investment costs for creation, the identification system of rolling stock on the special railway tracks of industrial enterprises has developed the method based on the idea of priority installation of the RFID readers on railway hauls, where rail traffic volumes are uneven in structure and power, parameters of which is difficult or impossible to predict on the basis of existing data in an information system. To select the optimal locations of RFID readers, the mathematical model of the staged installation of such readers has developed depending on the non-uniformity value of rail traffic volumes, passing through the specific railway hauls. As a result of that approach, installation of the numerous RFID readers at all station tracks and loading areas of industrial railway stations might be not necessary,which reduces the total cost of the rolling stock identification and the implementation of the method for optimal management of transportation process.

Food web dynamics affect Northeast Arctic cod recruitment.

PubMed

Hjermann, Dag Ø; Bogstad, Bjarte; Eikeset, Anne Maria; Ottersen, Geir; Gjøsaeter, Harald; Stenseth, Nils Chr

2007-03-07

Proper management of ecosystems requires an understanding of both the species interactions as well as the effect of climate variation. However, a common problem is that the available time-series are of different lengths. Here, we present a general approach for studying the dynamic structure of such interactions. Specifically, we analyse the recruitment of the world's largest cod stock, the Northeast Arctic cod. Studies based on data starting in the 1970-1980s indicate that this stock is affected by temperature through a variety of pathways. However, the value of such studies is somewhat limited by the fact that they are based on a quite specific ecological and climatic situation. Recently, this stock has consisted of fairly young fish and the spawning stock has consisted of relatively few age groups. In this study, we develop a model for the effect of capelin (the cod's main prey) and herring on cod recruitment since 1973. Based on this model, we analyse data on cod, herring and temperature going back to 1921 and find that food-web effects explain a significant part of the cod recruitment variation back to around 1950.

Matching spatial property rights fisheries with scales of fish dispersal.

PubMed

White, Crow; Costello, Christopher

2011-03-01

Regulation of fisheries using spatial property rights can alleviate competition for high-value patches that hinders economic efficiency in quota-based, rights-based, and open-access management programs. However, efficiency gains erode when delineation of spatial rights constitutes incomplete ownership of the resource, thereby degrading its local value and promoting overexploitation. Incomplete ownership may be particularly prevalent in the spatial management of mobile fishery species. We developed a game-theoretic bioeconomic model of spatial property rights representing territorial user rights fisheries (TURF) management of nearshore marine fish and invertebrate species with mobile adult and larval life history stages. Strategic responses by fisheries in neighboring management units result in overexploitation of the stock and reduced yields for each fishery compared with those attainable without resource mobility or with coordination or sole control in fishing effort. High dispersal potential of the larval stage, a common trait among nearshore fishery species, coupled with scaling of management units to only capture adult mobility, a common characteristic of many nearshore TURF programs, in particular substantially reduced stock levels and yields. In a case study of hypothetical TURF programs of nearshore fish and invertebrate species, management units needed to be tens of kilometers in alongshore length to minimize larval export and generate reasonable returns to fisheries. Cooperation and quota regulations represent solutions to the problem that need to be quantified in cost and integrated into the determination of the acceptability of spatial property rights management of fisheries.

Estimating the Value-at-Risk for some stocks at the capital market in Indonesia based on ARMA-FIGARCH models

NASA Astrophysics Data System (ADS)

Sukono; Lesmana, E.; Susanti, D.; Napitupulu, H.; Hidayat, Y.

2017-11-01

Value-at-Risk has already become a standard measurement that must be carried out by the financial institution for both internal interest and regulatory. In this paper, the estimation of Value-at-Risk of some stocks with econometric models approach is analyzed. In this research, we assume that the stock return follows the time series model. To do the estimation of mean value we are using ARMA models, while to estimate the variance value we are using FIGARCH models. Furthermore, the mean value estimator and the variance are used to estimate the Value-at-Risk. The result of the analysis shows that from five stock PRUF, BBRI, MPPA, BMRI, and INDF, the Value-at-Risk obtained are 0.01791, 0.06037, 0.02550, 0.06030, and 0.02585 respectively. Since Value-at-Risk represents the maximum risk size of each stock at a 95% level of significance, then it can be taken into consideration in determining the investment policy on stocks.

Microdialysis of Soil P: A means to mimic root uptake?

NASA Astrophysics Data System (ADS)

Schack-Kirschner, Helmer; Demand, Dominic; Lang, Friederike

2017-04-01

Standard procedures to assess P availability in soils are based on batch experiments with various extractants. However, in most soils P nutrition is less limited by bulk stocks but by slow diffusion of phosphate through the soil solution. More comparable to the root's approach is to strip phosphate locally from the solid phase by lowering the soil-solution concentration, which can be achieved by establishing an infinite diffusional sink, such as DGT. An alternative diffusive sampling technique is microdialysis (MD), well established in pharmacokinetics. Briefly, this method uses miniaturized flow-through probes where the perfusate gets in diffusive contact to the external solution by a semipermeable membrane. Important aspects of P supply to roots resemble MD sampling. This is not only the mostly diffusive transport, but also an elongated capillary tube-like geometry of absorption. The diameter of typical commercial MD probes is around 500μm. One additional inherent feature of microdialysis is the possibility to release low-molecular substances from the perfusate by diffusion into the matrix, such as carboxylates. However, microdialysis has yet not been used for P in soils. We tested microdialysis in topsoils of an acid beech forest, of an unfertilized grassland and of a fertilized crop site. Three perfusates have been used: 1 mM KNO3, electrolyte + 0.1 mM citric acid, and electrolyte + 1 mM citric acid. We observed rates of uptake into the probes in a range between 1.5*10-15 and 6.7*10-14 mol s-1cm-1 in case of no citrate addition. Surprisingly, these uptake rates were mostly independent of the bulk stocks. Citrate addition increased P yields only in the higher concentration but not in the forest soil. The order of magnitude of MD uptake rates from the soil samples matched root-length related uptake rates from other studies. The micro-radial citrate release in MD reflects the processes controlling phosphate mobilization in the rhizosphere better than measurements based on "flooding" of soil samples with citric acid in batch experiments. Important challenges in MD with phosphate are small volumes of dialysate with extremely low concentrations and a high variability of results due to soil heterogeneity and between-probe variability. We conclude that MD is a promising tool to complement existing P-analytical procedures, especially when spatial aspects or the release of mobilizing substances are in focus.

Information-driven trade and price-volume relationship in artificial stock markets

NASA Astrophysics Data System (ADS)

Liu, Xinghua; Liu, Xin; Liang, Xiaobei

2015-07-01

The positive relation between stock price changes and trading volume (price-volume relationship) as a stylized fact has attracted significant interest among finance researchers and investment practitioners. However, until now, consensus has not been reached regarding the causes of the relationship based on real market data because extracting valuable variables (such as information-driven trade volume) from real data is difficult. This lack of general consensus motivates us to develop a simple agent-based computational artificial stock market where extracting the necessary variables is easy. Based on this model and its artificial data, our tests have found that the aggressive trading style of informed agents can produce a price-volume relationship. Therefore, the information spreading process is not a necessary condition for producing price-volume relationship.

Structural changes and out-of-sample prediction of realized range-based variance in the stock market

NASA Astrophysics Data System (ADS)

Gong, Xu; Lin, Boqiang

2018-03-01

This paper aims to examine the effects of structural changes on forecasting the realized range-based variance in the stock market. Considering structural changes in variance in the stock market, we develop the HAR-RRV-SC model on the basis of the HAR-RRV model. Subsequently, the HAR-RRV and HAR-RRV-SC models are used to forecast the realized range-based variance of S&P 500 Index. We find that there are many structural changes in variance in the U.S. stock market, and the period after the financial crisis contains more structural change points than the period before the financial crisis. The out-of-sample results show that the HAR-RRV-SC model significantly outperforms the HAR-BV model when they are employed to forecast the 1-day, 1-week, and 1-month realized range-based variances, which means that structural changes can improve out-of-sample prediction of realized range-based variance. The out-of-sample results remain robust across the alternative rolling fixed-window, the alternative threshold value in ICSS algorithm, and the alternative benchmark models. More importantly, we believe that considering structural changes can help improve the out-of-sample performances of most of other existing HAR-RRV-type models in addition to the models used in this paper.

Accounting for biomass carbon stock change due to wildfire in temperate forest landscapes in Australia.

PubMed

Keith, Heather; Lindenmayer, David B; Mackey, Brendan G; Blair, David; Carter, Lauren; McBurney, Lachlan; Okada, Sachiko; Konishi-Nagano, Tomoko

2014-01-01

Carbon stock change due to forest management and disturbance must be accounted for in UNFCCC national inventory reports and for signatories to the Kyoto Protocol. Impacts of disturbance on greenhouse gas (GHG) inventories are important for many countries with large forest estates prone to wildfires. Our objective was to measure changes in carbon stocks due to short-term combustion and to simulate longer-term carbon stock dynamics resulting from redistribution among biomass components following wildfire. We studied the impacts of a wildfire in 2009 that burnt temperate forest of tall, wet eucalypts in south-eastern Australia. Biomass combusted ranged from 40 to 58 tC ha(-1), which represented 6-7% and 9-14% in low- and high-severity fire, respectively, of the pre-fire total biomass carbon stock. Pre-fire total stock ranged from 400 to 1040 tC ha(-1) depending on forest age and disturbance history. An estimated 3.9 TgC was emitted from the 2009 fire within the forest region, representing 8.5% of total biomass carbon stock across the landscape. Carbon losses from combustion were large over hours to days during the wildfire, but from an ecosystem dynamics perspective, the proportion of total carbon stock combusted was relatively small. Furthermore, more than half the stock losses from combustion were derived from biomass components with short lifetimes. Most biomass remained on-site, although redistributed from living to dead components. Decomposition of these components and new regeneration constituted the greatest changes in carbon stocks over ensuing decades. A critical issue for carbon accounting policy arises because the timeframes of ecological processes of carbon stock change are longer than the periods for reporting GHG inventories for national emissions reductions targets. Carbon accounts should be comprehensive of all stock changes, but reporting against targets should be based on human-induced changes in carbon stocks to incentivise mitigation activities.

Accounting for Biomass Carbon Stock Change Due to Wildfire in Temperate Forest Landscapes in Australia

PubMed Central

Keith, Heather; Lindenmayer, David B.; Mackey, Brendan G.; Blair, David; Carter, Lauren; McBurney, Lachlan; Okada, Sachiko; Konishi-Nagano, Tomoko

2014-01-01

Carbon stock change due to forest management and disturbance must be accounted for in UNFCCC national inventory reports and for signatories to the Kyoto Protocol. Impacts of disturbance on greenhouse gas (GHG) inventories are important for many countries with large forest estates prone to wildfires. Our objective was to measure changes in carbon stocks due to short-term combustion and to simulate longer-term carbon stock dynamics resulting from redistribution among biomass components following wildfire. We studied the impacts of a wildfire in 2009 that burnt temperate forest of tall, wet eucalypts in south-eastern Australia. Biomass combusted ranged from 40 to 58 tC ha−1, which represented 6–7% and 9–14% in low- and high-severity fire, respectively, of the pre-fire total biomass carbon stock. Pre-fire total stock ranged from 400 to 1040 tC ha−1 depending on forest age and disturbance history. An estimated 3.9 TgC was emitted from the 2009 fire within the forest region, representing 8.5% of total biomass carbon stock across the landscape. Carbon losses from combustion were large over hours to days during the wildfire, but from an ecosystem dynamics perspective, the proportion of total carbon stock combusted was relatively small. Furthermore, more than half the stock losses from combustion were derived from biomass components with short lifetimes. Most biomass remained on-site, although redistributed from living to dead components. Decomposition of these components and new regeneration constituted the greatest changes in carbon stocks over ensuing decades. A critical issue for carbon accounting policy arises because the timeframes of ecological processes of carbon stock change are longer than the periods for reporting GHG inventories for national emissions reductions targets. Carbon accounts should be comprehensive of all stock changes, but reporting against targets should be based on human-induced changes in carbon stocks to incentivise mitigation activities. PMID:25208298

An Applied Framework for Incorporating Multiple Sources of Uncertainty in Fisheries Stock Assessments.

PubMed

Scott, Finlay; Jardim, Ernesto; Millar, Colin P; Cerviño, Santiago

2016-01-01

Estimating fish stock status is very challenging given the many sources and high levels of uncertainty surrounding the biological processes (e.g. natural variability in the demographic rates), model selection (e.g. choosing growth or stock assessment models) and parameter estimation. Incorporating multiple sources of uncertainty in a stock assessment allows advice to better account for the risks associated with proposed management options, promoting decisions that are more robust to such uncertainty. However, a typical assessment only reports the model fit and variance of estimated parameters, thereby underreporting the overall uncertainty. Additionally, although multiple candidate models may be considered, only one is selected as the 'best' result, effectively rejecting the plausible assumptions behind the other models. We present an applied framework to integrate multiple sources of uncertainty in the stock assessment process. The first step is the generation and conditioning of a suite of stock assessment models that contain different assumptions about the stock and the fishery. The second step is the estimation of parameters, including fitting of the stock assessment models. The final step integrates across all of the results to reconcile the multi-model outcome. The framework is flexible enough to be tailored to particular stocks and fisheries and can draw on information from multiple sources to implement a broad variety of assumptions, making it applicable to stocks with varying levels of data availability The Iberian hake stock in International Council for the Exploration of the Sea (ICES) Divisions VIIIc and IXa is used to demonstrate the framework, starting from length-based stock and indices data. Process and model uncertainty are considered through the growth, natural mortality, fishing mortality, survey catchability and stock-recruitment relationship. Estimation uncertainty is included as part of the fitting process. Simple model averaging is used to integrate across the results and produce a single assessment that considers the multiple sources of uncertainty.

Spatial variability of soil carbon stock in the Urucu river basin, Central Amazon-Brazil.

PubMed

Ceddia, Marcos Bacis; Villela, André Luis Oliveira; Pinheiro, Érika Flávia Machado; Wendroth, Ole

2015-09-01

The Amazon Forest plays a major role in C sequestration and release. However, few regional estimates of soil organic carbon (SOC) stock in this ecoregion exist. One of the barriers to improve SOC estimates is the lack of recent soil data at high spatial resolution, which hampers the application of new methods for mapping SOC stock. The aims of this work were: (i) to quantify SOC stock under undisturbed vegetation for the 0-30 and the 0-100 cm under Amazon Forest; (ii) to correlate the SOC stock with soil mapping units and relief attributes and (iii) to evaluate three geostatistical techniques to generate maps of SOC stock (ordinary, isotopic and heterotopic cokriging). The study site is located in the Central region of Amazon State, Brazil. The soil survey covered the study site that has an area of 80 km(2) and resulted in a 1:10,000 soil map. It consisted of 315 field observations (96 complete soil profiles and 219 boreholes). SOC stock was calculated by summing C stocks by horizon, determined as a product of BD, SOC and the horizon thickness. For each one of the 315 soil observations, relief attributes were derived from a topographic map to understand SOC dynamics. The SOC stocks across 30 and 100 cm soil depth were 3.28 and 7.32 kg C m(-2), respectively, which is, 34 and 16%, lower than other studies. The SOC stock is higher in soils developed in relief forms exhibiting well-drained soils, which are covered by Upland Dense Tropical Rainforest. Only SOC stock in the upper 100 cm exhibited spatial dependence allowing the generation of spatial variability maps based on spatial (co)-regionalization. The CTI was inversely correlated with SOC stock and was the only auxiliary variable feasible to be used in cokriging interpolation. The heterotopic cokriging presented the best performance for mapping SOC stock. Copyright © 2015 Elsevier B.V. All rights reserved.

A dynamic analysis of S&P 500, FTSE 100 and EURO STOXX 50 indices under different exchange rates

PubMed Central

Chen, Yanhua; Mantegna, Rosario N.; Zuev, Konstantin M.

2018-01-01

In this study, we assess the dynamic evolution of short-term correlation, long-term cointegration and Error Correction Model (hereafter referred to as ECM)-based long-term Granger causality between each pair of US, UK, and Eurozone stock markets from 1980 to 2015 using the rolling-window technique. A comparative analysis of pairwise dynamic integration and causality of stock markets, measured in common and domestic currency terms, is conducted to evaluate comprehensively how exchange rate fluctuations affect the time-varying integration among the S&P 500, FTSE 100 and EURO STOXX 50 indices. The results obtained show that the dynamic correlation, cointegration and ECM-based long-run Granger causality vary significantly over the whole sample period. The degree of dynamic correlation and cointegration between pairs of stock markets rises in periods of high volatility and uncertainty, especially under the influence of economic, financial and political shocks. Meanwhile, we observe the weaker and decreasing correlation and cointegration among the three developed stock markets during the recovery periods. Interestingly, the most persistent and significant cointegration among the three developed stock markets exists during the 2007–09 global financial crisis. Finally, the exchange rate fluctuations, also influence the dynamic integration and causality between all pairs of stock indices, with that influence increasing under the local currency terms. Our results suggest that the potential for diversifying risk by investing in the US, UK and Eurozone stock markets is limited during the periods of economic, financial and political shocks. PMID:29529092

Analysis of financial time series using multiscale entropy based on skewness and kurtosis

NASA Astrophysics Data System (ADS)

Xu, Meng; Shang, Pengjian

2018-01-01

There is a great interest in studying dynamic characteristics of the financial time series of the daily stock closing price in different regions. Multi-scale entropy (MSE) is effective, mainly in quantifying the complexity of time series on different time scales. This paper applies a new method for financial stability from the perspective of MSE based on skewness and kurtosis. To better understand the superior coarse-graining method for the different kinds of stock indexes, we take into account the developmental characteristics of the three continents of Asia, North America and European stock markets. We study the volatility of different financial time series in addition to analyze the similarities and differences of coarsening time series from the perspective of skewness and kurtosis. A kind of corresponding relationship between the entropy value of stock sequences and the degree of stability of financial markets, were observed. The three stocks which have particular characteristics in the eight piece of stock sequences were discussed, finding the fact that it matches the result of applying the MSE method to showing results on a graph. A comparative study is conducted to simulate over synthetic and real world data. Results show that the modified method is more effective to the change of dynamics and has more valuable information. The result is obtained at the same time, finding the results of skewness and kurtosis discrimination is obvious, but also more stable.

Drivers and rates of stock assessments in the United States

PubMed Central

Thorson, James T.; Melnychuk, Michael C.; Methot, Richard; Blackhart, Kristan

2018-01-01

Fisheries management is most effective when based on scientific estimates of sustainable fishing rates. While some simple approaches allow estimation of harvest limits, more data-intensive stock assessments are generally required to evaluate the stock’s biomass and fishing rates relative to sustainable levels. Here we evaluate how stock characteristics relate to the rate of new assessments in the United States. Using a statistical model based on time-to-event analysis and 569 coastal marine fish and invertebrate stocks landed in commercial fisheries, we quantify the impact of region, habitat, life-history, and economic factors on the annual probability of being assessed. Although the majority of landings come from assessed stocks in all regions, less than half of the regionally-landed species currently have been assessed. As expected, our time-to-event model identified landed tonnage and ex-vessel price as the dominant factors determining increased rates of new assessments. However, we also found that after controlling for landings and price, there has been a consistent bias towards assessing larger-bodied species. A number of vulnerable groups such as rockfishes (Scorpaeniformes) and groundsharks (Carcharhiniformes) have a relatively high annual probability of being assessed after controlling for their relatively small tonnage and low price. Due to relatively low landed tonnage and price of species that are currently unassessed, our model suggests that the number of assessed stocks will increase more slowly in future decades. PMID:29750789

Drug shop regulation and malaria treatment in Tanzania--why do shops break the rules, and does it matter?

PubMed

Goodman, Catherine; Kachur, S Patrick; Abdulla, Salim; Bloland, Peter; Mills, Anne

2007-11-01

Regulatory infringements are extremely common in low-income countries, especially with respect to retail pharmaceutical sales. There have been few practical suggestions on public policy responses other than stricter regulatory enforcement, which governments are often unable, or unwilling, to do. This paper explores the challenges of regulating retail drug sellers, and potential solutions, through a case study of malaria treatment in rural Tanzania where small drug shops are a common source of medicine. Infringement of health-related regulation was extremely common. Most stores lacked valid permits, and illegal stocking of prescription-only medicines and unpackaged tablets was the norm. Most stocked unregistered drugs, and no serving staff met the qualification requirements. Infringements are likely to have reflected infrequent regulatory inspections, a failure of regulatory authorities to implement sanctions, successful concealment of regulatory violations, and the tacit permission of local regulatory staff. Eliminating regulatory infringements is unlikely to be feasible, and could be undesirable if access to essential medicines is reduced. Alternatives include bringing official drug regulation closer into line with locally legitimate practices; greater use of positive incentives for providers; and consumer involvement. Such a change in approach has the potential to provide a firmer platform for public-private collaboration to improve shop-based treatment.

Daily happiness and stock returns: Some international evidence

NASA Astrophysics Data System (ADS)

Zhang, Wei; Li, Xiao; Shen, Dehua; Teglio, Andrea

2016-10-01

In this paper, we examine the relations between the daily happiness sentiment extracted from Twitter and the stock market performance in 11 international stock markets. By partitioning this happiness sentiment into quintiles from the least to the happiest days, we first show that the contemporary correlation coefficients between happiness sentiment and index return in the 4 and most-happiness subgroups are higher than that in least, 2 and 3-happiness subgroups. Secondly, the happiness sentiment can provide additional explanatory power for index return in the most-happiness subgroup. Thirdly, the daily happiness can granger-cause the changes in index return for the majority of stock markets. Fourthly, we find that the index return and the range-based volatility of the most-happiness subgroup are larger than those of other subgroups. These results highlight the important role of social media in stock market.

Low-intensity, stocker-based channel catfish culture

USDA-ARS?s Scientific Manuscript database

Low-intensity Channel Catfish production is characterized by low stocking rates, low installed aeration capacity, and no automated dissolved oxygen monitoring. Two studies conducted in nine 0.25-acre ponds quantified production characteristics of stocker Channel Catfish stocked for low-intensity foo...

Development of an evolutionary fuzzy expert system for estimating future behavior of stock price

NASA Astrophysics Data System (ADS)

Mehmanpazir, Farhad; Asadi, Shahrokh

2017-03-01

The stock market has always been an attractive area for researchers since no method has been found yet to predict the stock price behavior precisely. Due to its high rate of uncertainty and volatility, it carries a higher risk than any other investment area, thus the stock price behavior is difficult to simulation. This paper presents a "data mining-based evolutionary fuzzy expert system" (DEFES) approach to estimate the behavior of stock price. This tool is developed in seven-stage architecture. Data mining is used in three stages to reduce the complexity of the whole data space. The first stage, noise filtering, is used to make our raw data clean and smooth. Variable selection is second stage; we use stepwise regression analysis to choose the key variables been considered in the model. In the third stage, K-means is used to divide the data into sub-populations to decrease the effects of noise and rebate complexity of the patterns. At next stage, extraction of Mamdani type fuzzy rule-based system will be carried out for each cluster by means of genetic algorithm and evolutionary strategy. In the fifth stage, we use binary genetic algorithm to rule filtering to remove the redundant rules in order to solve over learning phenomenon. In the sixth stage, we utilize the genetic tuning process to slightly adjust the shape of the membership functions. Last stage is the testing performance of tool and adjusts parameters. This is the first study on using an approximate fuzzy rule base system and evolutionary strategy with the ability of extracting the whole knowledge base of fuzzy expert system for stock price forecasting problems. The superiority and applicability of DEFES are shown for International Business Machines Corporation and compared the outcome with the results of the other methods. Results with MAPE metric and Wilcoxon signed ranks test indicate that DEFES provides more accuracy and outperforms all previous methods, so it can be considered as a superior tool for stock price forecasting problems.

Value-at-risk estimation with wavelet-based extreme value theory: Evidence from emerging markets

NASA Astrophysics Data System (ADS)

Cifter, Atilla

2011-06-01

This paper introduces wavelet-based extreme value theory (EVT) for univariate value-at-risk estimation. Wavelets and EVT are combined for volatility forecasting to estimate a hybrid model. In the first stage, wavelets are used as a threshold in generalized Pareto distribution, and in the second stage, EVT is applied with a wavelet-based threshold. This new model is applied to two major emerging stock markets: the Istanbul Stock Exchange (ISE) and the Budapest Stock Exchange (BUX). The relative performance of wavelet-based EVT is benchmarked against the Riskmetrics-EWMA, ARMA-GARCH, generalized Pareto distribution, and conditional generalized Pareto distribution models. The empirical results show that the wavelet-based extreme value theory increases predictive performance of financial forecasting according to number of violations and tail-loss tests. The superior forecasting performance of the wavelet-based EVT model is also consistent with Basel II requirements, and this new model can be used by financial institutions as well.

Scaling and volatility of breakouts and breakdowns in stock price dynamics.

PubMed

Liu, Lu; Wei, Jianrong; Huang, Jiping

2013-01-01

Because the movement of stock prices is not only ubiquitous in financial markets but also crucial for investors, extensive studies have been done to understand the law behind it. In particular, since the financial crisis in 2008, researchers have a more interest in investigating large market volatilities in order to grasp changing market trends. In this work, we analyze the breakouts and breakdowns of both the Standard & Poor's 500 Index in the US stock market and the Shanghai Composite Index in the Chinese stock market. The breakout usually represents an ongoing upward trend in technical analysis while the breakdown represents an ongoing downward trend. Based on the renormalization method, we introduce two parameters to quantize breakouts and breakdowns, respectively. We discover scaling behavior, characterized by power-law distributions for both the breakouts and breakdowns in the two financial markets with different power-law exponents, which reflect different market volatilities. In detail, the market volatility for breakdowns is usually larger than that for breakouts. Moreover, as an emerging market, the Chinese stock market has larger market volatilities for both the breakouts and breakdowns than the US stock market (a mature market). Further, the short-term volatilities show similar features for both the US stock market and the Chinese stock market. However, the medium-term volatilities in the US stock market are almost symmetrical for the breakouts and breakdowns, whereas those in the Chinese stock market appear to be asymmetrical for the breakouts and breakdowns. The methodology presented here provides a way to understand scaling and hence volatilities of breakouts and breakdowns in stock price dynamics. Our findings not only reveal the features of market volatilities but also make a comparison between mature and emerging financial markets.

Feasibility of dsRNA treatment for post-clearing SPF shrimp stocks of newly discovered viral infections using Laem Singh virus (LSNV) as a model.

PubMed

Saksmerprome, Vanvimon; Charoonnart, Patai; Flegel, Timothy W

2017-05-02

Using post-larvae derived from specific pathogen free (SPF) stocks in penaeid shrimp farming has led to a dramatic increase in production. At the same time, new pathogens of farmed shrimp are continually being discovered. Sometimes these pathogens are carried by shrimp and other crustaceans as persistent infections without gross signs of disease. Thus it is that a 5-generation stock of Penaeus monodon SPF for several pathogens was found, post-stock-development, to be persistently-infected with newly-discovered Laem Singh virus (LSNV). In this situation, the stock developers were faced with destroying their existing stock (developed over a long period at considerable cost) and starting the whole stock development process anew in order to add LSNV to its SPF list. As an alternative, it was hypothesized that injection of complementary dsRNA into viral-infected broodstock prior to mating might inhibit replication of the target virus sufficiently to reduce or eliminate its transmission to their offspring. Subsequent selection of uninfected offspring would allow for post-clearing of LSNV from the existing stock and for conversion of the stock to LSNV-free status. Testing this hypothesis using the LSNV-infected stock described above, we found that transmission was substantially reduced in several treated broodstock compared to much higher transmission in buffer-injected broodstock. Based on these results, the model is proposed for post-clearing of SPF stocks using dsRNA treatment. The model may also be applicable to post-clearing of exceptional, individual performers from grow-out ponds for return to a nucleus breeding center. Copyright © 2017 Elsevier B.V. All rights reserved.

Scaling and Volatility of Breakouts and Breakdowns in Stock Price Dynamics

PubMed Central

Liu, Lu; Wei, Jianrong; Huang, Jiping

2013-01-01

Background Because the movement of stock prices is not only ubiquitous in financial markets but also crucial for investors, extensive studies have been done to understand the law behind it. In particular, since the financial crisis in 2008, researchers have a more interest in investigating large market volatilities in order to grasp changing market trends. Methodology/Principal Findings In this work, we analyze the breakouts and breakdowns of both the Standard & Poor’s 500 Index in the US stock market and the Shanghai Composite Index in the Chinese stock market. The breakout usually represents an ongoing upward trend in technical analysis while the breakdown represents an ongoing downward trend. Based on the renormalization method, we introduce two parameters to quantize breakouts and breakdowns, respectively. We discover scaling behavior, characterized by power-law distributions for both the breakouts and breakdowns in the two financial markets with different power-law exponents, which reflect different market volatilities. In detail, the market volatility for breakdowns is usually larger than that for breakouts. Moreover, as an emerging market, the Chinese stock market has larger market volatilities for both the breakouts and breakdowns than the US stock market (a mature market). Further, the short-term volatilities show similar features for both the US stock market and the Chinese stock market. However, the medium-term volatilities in the US stock market are almost symmetrical for the breakouts and breakdowns, whereas those in the Chinese stock market appear to be asymmetrical for the breakouts and breakdowns. Conclusions/Signicance The methodology presented here provides a way to understand scaling and hence volatilities of breakouts and breakdowns in stock price dynamics. Our findings not only reveal the features of market volatilities but also make a comparison between mature and emerging financial markets. PMID:24376577

Discrimination among spawning aggregations of lake herring from Lake Superior using whole-body morphometric characters

USGS Publications Warehouse

Hoff, Michael H.

2004-01-01

The lake herring (Coregonus artedi) was one of the most commercially and ecologically valuable Lake Superior fishes, but declined in the second half of the 20th century as the result of overharvest of putatively discrete stocks. No tools were previously available that described lake herring stock structure and accurately classified lake herring to their spawning stocks. The accuracy of discriminating among spawning aggregations was evaluated using whole-body morphometrics based on a truss network. Lake herring were collected from 11 spawning aggregations in Lake Superior and two inland Wisconsin lakes to evaluate morphometrics as a stock discrimination tool. Discriminant function analysis correctly classified 53% of all fish from all spawning aggregations, and fish from all but one aggregation were classified at greater rates than were possible by chance. Discriminant analysis also correctly classified 66% of fish to nearest neighbor groups, which were groups that accounted for the possibility of mixing among the aggregations. Stepwise discriminant analysis showed that posterior body length and depth measurements were among the best discriminators of spawning aggregations. These findings support other evidence that discrete stocks of lake herring exist in Lake Superior, and fishery managers should consider all but one of the spawning aggregations as discrete stocks. Abundance, annual harvest, total annual mortality rate, and exploitation data should be collected from each stock, and surplus production of each stock should be estimated. Prudent management of stock surplus production and exploitation rates will aid in restoration of stocks and will prevent a repeat of the stock collapses that occurred in the middle of the 20th century, when the species was nearly extirpated from the lake.

Towards Establishing Fiscal Legitimacy Through Settled Fiscal Principles in Global Health Financing.

PubMed

Waris, Attiya; Latif, Laila Abdul

2015-12-01

Scholarship on international health law is currently pushing the boundaries while taking stock of achievements made over the past few decades. However despite the forward thinking approach of scholars working in the field of global health one area remains a stumbling block in the path to achieving the right to health universally: the financing of heath. This paper uses the book Global Health Law by Larry Gostin to reflect and take stock of the fiscal support provided to the right to health from both a global and an African perspective. It then sets out the key fiscal challenges facing global and African health and proposes an innovative solution for consideration: use of the domestic principles of tax to design the global health financing system.

Stock management in hospital pharmacy using chance-constrained model predictive control.

PubMed

Jurado, I; Maestre, J M; Velarde, P; Ocampo-Martinez, C; Fernández, I; Tejera, B Isla; Prado, J R Del

2016-05-01

One of the most important problems in the pharmacy department of a hospital is stock management. The clinical need for drugs must be satisfied with limited work labor while minimizing the use of economic resources. The complexity of the problem resides in the random nature of the drug demand and the multiple constraints that must be taken into account in every decision. In this article, chance-constrained model predictive control is proposed to deal with this problem. The flexibility of model predictive control allows taking into account explicitly the different objectives and constraints involved in the problem while the use of chance constraints provides a trade-off between conservativeness and efficiency. The solution proposed is assessed to study its implementation in two Spanish hospitals. Copyright © 2015 Elsevier Ltd. All rights reserved.

TaqMan DNA technology confirms likely overestimation of cod (Gadus morhua L.) egg abundance in the Irish Sea: implications for the assessment of the cod stock and mapping of spawning areas using egg-based methods.

PubMed

Fox, C J; Taylor, M I; Pereyra, R; Villasana, M I; Rico, C

2005-03-01

Recent substantial declines in northeastern Atlantic cod stocks necessitate improved biological knowledge and the development of techniques to complement standard stock assessment methods (which largely depend on accurate commercial catch data). In 2003, an ichthyoplankton survey was undertaken in the Irish Sea and subsamples of 'cod-like' eggs were analysed using a TaqMan multiplex, PCR (polymerase chain reaction) assay (with specific probes for cod, haddock and whiting). The TaqMan method was readily applied to the large number of samples (n = 2770) generated during the survey and when combined with a manual DNA extraction protocol had a low failure rate of 6%. Of the early stage 'cod-like' eggs (1.2-1.75 mm diameter) positively identified: 34% were cod, 8% haddock and 58% whiting. As previous stock estimates based on egg surveys for Irish Sea cod assumed that the majority of 'cod-like' eggs were from cod, the TaqMan results confirm that there was probably substantial contamination by eggs of whiting and haddock that would have inflated estimates of the stock biomass.

Clustering of financial time series with application to index and enhanced index tracking portfolio

NASA Astrophysics Data System (ADS)

Dose, Christian; Cincotti, Silvano

2005-09-01

A stochastic-optimization technique based on time series cluster analysis is described for index tracking and enhanced index tracking problems. Our methodology solves the problem in two steps, i.e., by first selecting a subset of stocks and then setting the weight of each stock as a result of an optimization process (asset allocation). Present formulation takes into account constraints on the number of stocks and on the fraction of capital invested in each of them, whilst not including transaction costs. Computational results based on clustering selection are compared to those of random techniques and show the importance of clustering in noise reduction and robust forecasting applications, in particular for enhanced index tracking.

Estimation on the First Cycle of the Annual Forest Inventory System: Methods, Preliminary Results, and Observations

Treesearch

Mark H. Hansen; Gary J. Brand; Daniel G. Wendt; Ronald E. McRoberts

2001-01-01

The first year of annual FIA data collection in the North Central region was completed for 1999 in Indiana, Iowa, Minnesota, and Missouri. Estimates of timberland area, total growing-stock volume and growing-stock volume per acre are presented. These estimates are based on data from 1 year, collected at the base Federal inventory intensity, a lower intensity sample...

A Simulation of Readiness-Based Sparing Policies

DTIC Science & Technology

2017-06-01

variant of a greedy heuristic algorithm to set stock levels and estimate overall WS availability. Our discrete event simulation is then used to test the...available in the optimization tools. 14. SUBJECT TERMS readiness-based sparing, discrete event simulation, optimization, multi-indenture...variant of a greedy heuristic algorithm to set stock levels and estimate overall WS availability. Our discrete event simulation is then used to test the

Water use on nonirrigated pasture-based dairy farms: Combining detailed monitoring and modeling to set benchmarks.

PubMed

Higham, C D; Horne, D; Singh, R; Kuhn-Sherlock, B; Scarsbrook, M R

2017-01-01

Water use in intensively managed, confinement dairy systems has been widely studied, but few reports exist regarding water use on pasture-based dairy farms. The objective of this study was to quantify the seasonal pattern of water use to develop a prediction model of water use for pasture-based dairy farms. Stock drinking, milking parlor, and total water use was measured on 35 pasture-based, seasonal calving dairy farms in New Zealand over 2 yr. Average stock drinking water was 60 L/cow per day, with peak use in summer. We estimated that, on average, 26% of stock drinking water was lost through leakage from water-distribution systems. Average corrected stock drinking water (equivalent to voluntary water intake) was 36 L/cow per day, and peak water consumption was 72 L/cow per day in summer. Milking parlor water use increased sharply at the start of lactation (July) and plateaued (August) until summer (February), after which it decreased with decreasing milk production. Average milking parlor water use was 58 L/cow per day (between September and February). Water requirements were affected by parlor type, with rotary milking parlor water use greater than herringbone parlor water use. Regression models were developed to predict stock drinking and milking parlor water use. The models included a range of climate, farm, and milk production variables. The main drivers of stock drinking water use were maximum daily temperature, potential evapotranspiration, radiation, and yield of milk and milk components. The main drivers for milking parlor water use were average per cow milk production and milking frequency. These models of water use are similar to those used in confinement dairy systems, where milk yield is commonly used as a variable. The models presented fit the measured data more accurately than other published models and are easier to use on pasture-based dairy farms, as they do not include feed and variables that are difficult to measure on pasture-based farms. Copyright © 2017 American Dairy Science Association. Published by Elsevier Inc. All rights reserved.

The role of composition, invasives, and maintenance emissions on urban forest carbon stocks.

PubMed

Horn, Josh; Escobedo, Francisco J; Hinkle, Ross; Hostetler, Mark; Timilsina, Nilesh

2015-02-01

There are few field-based, empirical studies quantifying the effect of invasive trees and palms and maintenance-related carbon emissions on changes in urban forest carbon stocks. We estimated carbon (C) stock changes and tree maintenance-related C emissions in a subtropical urban forest by re-measuring a subsample of residential permanent plots during 2009 and 2011, using regional allometric biomass equations, and surveying residential homeowners near Orlando, FL, USA. The effect of native, non-native, invasive tree species and palms on C stocks and sequestration was also quantified. Findings show 17.8 tC/ha in stocks and 1.2 tC/ha/year of net sequestration. The most important species both by frequency of C stocks and sequestration were Quercus laurifolia Michx. and Quercus virginiana Mill., accounting for 20% of all the trees measured; 60% of carbon stocks and over 75% of net C sequestration. Palms contributed to less than 1% of the total C stocks. Natives comprised two-thirds of the tree population and sequestered 90% of all C, while invasive trees and palms accounted for 5 % of net C sequestration. Overall, invasive and exotic trees had a limited contribution to total C stocks and sequestration. Annual tree-related maintenance C emissions were 0.1% of total gross C sequestration. Plot-level tree, palm, and litter cover were correlated to C stocks and net sequestration. Findings can be used to complement existing urban forest C offset accounting and monitoring protocols and to better understand the role of invasive woody plants on urban ecosystem service provision.

Global socioeconomic carbon stocks in long-lived products 1900-2008

NASA Astrophysics Data System (ADS)

Lauk, Christian; Haberl, Helmut; Erb, Karl-Heinz; Gingrich, Simone; Krausmann, Fridolin

2012-09-01

A better understanding of the global carbon cycle as well as of climate change mitigation options such as carbon sequestration requires the quantification of natural and socioeconomic stocks and flows of carbon. A so-far under-researched aspect of the global carbon budget is the accumulation of carbon in long-lived products such as buildings and furniture. We present a comprehensive assessment of global socioeconomic carbon stocks and the corresponding in- and outflows during the period 1900-2008. These data allowed calculation of the annual carbon sink in socioeconomic stocks during this period. The study covers the most important socioeconomic carbon fractions, i.e. wood, bitumen, plastic and cereals. Our assessment was mainly based on production and consumption data for plastic, bitumen and wood products and the respective fractions remaining in stocks in any given year. Global socioeconomic carbon stocks were 2.3 GtC in 1900 and increased to 11.5 GtC in 2008. The share of wood in total C stocks fell from 97% in 1900 to 60% in 2008, while the shares of plastic and bitumen increased to 16% and 22%, respectively. The rate of gross carbon sequestration in socioeconomic stocks increased from 17 MtC yr-1 in 1900 to a maximum of 247 MtC yr-1 in 2007, corresponding to 2.2%-3.4% of global fossil-fuel-related carbon emissions. We conclude that while socioeconomic carbon stocks are not negligible, their growth over time is not a major climate change mitigation option and there is an only modest potential to mitigate climate change by the increase of socioeconomic carbon stocks.

The Role of Composition, Invasives, and Maintenance Emissions on Urban Forest Carbon Stocks

NASA Astrophysics Data System (ADS)

Horn, Josh; Escobedo, Francisco J.; Hinkle, Ross; Hostetler, Mark; Timilsina, Nilesh

2015-02-01

There are few field-based, empirical studies quantifying the effect of invasive trees and palms and maintenance-related carbon emissions on changes in urban forest carbon stocks. We estimated carbon (C) stock changes and tree maintenance-related C emissions in a subtropical urban forest by re-measuring a subsample of residential permanent plots during 2009 and 2011, using regional allometric biomass equations, and surveying residential homeowners near Orlando, FL, USA. The effect of native, non-native, invasive tree species and palms on C stocks and sequestration was also quantified. Findings show 17.8 tC/ha in stocks and 1.2 tC/ha/year of net sequestration. The most important species both by frequency of C stocks and sequestration were Quercus laurifolia Michx. and Quercus virginiana Mill., accounting for 20 % of all the trees measured; 60 % of carbon stocks and over 75 % of net C sequestration. Palms contributed to less than 1 % of the total C stocks. Natives comprised two-thirds of the tree population and sequestered 90 % of all C, while invasive trees and palms accounted for 5 % of net C sequestration. Overall, invasive and exotic trees had a limited contribution to total C stocks and sequestration. Annual tree-related maintenance C emissions were 0.1 % of total gross C sequestration. Plot-level tree, palm, and litter cover were correlated to C stocks and net sequestration. Findings can be used to complement existing urban forest C offset accounting and monitoring protocols and to better understand the role of invasive woody plants on urban ecosystem service provision.

Endogenous population growth may imply chaos.

PubMed

Prskawetz, A; Feichtinger, G

1995-01-01

The authors consider a discrete-time neoclassical growth model with an endogenous rate of population growth. The resulting one-dimensional map for the capital intensity has a tilted z-shape. Using the theory of nonlinear dynamical systems, they obtain numerical results on the qualitative behavior of time paths for changing parameter values. Besides stable and periodic solutions, erratic time paths may result. In particular, myopic and far-sighted economies--assumed to be characterized by low and high savings rate respectively--are characterized by stable per capita capital stocks, while solutions with chaotic windows exist between these two extremes.

Sustainable fisheries in shallow lakes: an independent empirical test of the Chinese mitten crab yield model

NASA Astrophysics Data System (ADS)

Wang, Haijun; Liang, Xiaomin; Wang, Hongzhu

2017-07-01

Next to excessive nutrient loading, intensive aquaculture is one of the major anthropogenic impacts threatening lake ecosystems. In China, particularly in the shallow lakes of mid-lower Changjiang (Yangtze) River, continuous overstocking of the Chinese mitten crab ( Eriocheir sinensis) could deteriorate water quality and exhaust natural resources. A series of crab yield models and a general optimum-stocking rate model have been established, which seek to benefit both crab culture and the environment. In this research, independent investigations were carried out to evaluate the crab yield models and modify the optimum-stocking model. Low percentage errors (average 47%, median 36%) between observed and calculated crab yields were obtained. Specific values were defined for adult crab body mass (135 g/ind.) and recapture rate (18% and 30% in lakes with submerged macrophyte biomass above and below 1 000 g/m2) to modify the optimum-stocking model. Analysis based on the modified optimum-stocking model indicated that the actual stocking rates in most lakes were much higher than the calculated optimum-stocking rates. This implies that, for most lakes, the current stocking rates should be greatly reduced to maintain healthy lake ecosystems.

Above Ground Carbon Stock Estimates of Mangrove Forest Using Worldview-2 Imagery in Teluk Benoa, Bali

NASA Astrophysics Data System (ADS)

Candra, E. D.; Hartono; Wicaksono, P.

2016-11-01

Mangrove forests have a role as an absorbent and a carbon sink to a reduction CO2 in the atmosphere. Based on the previous studies found that mangrove forests have the ability to sequestering carbon through photosynthesis and carbon burial of sediment effectively. The value and distribution of carbon stock are important to understand through remote sensing technology. In this study, will estimate the carbon stock using WorldView-2 imagery with and without distinction mangrove species. Worldview-2 is a high resolution image with 2 meters spatial resolution and eight spectral bands. Worldview-2 potential to estimate carbon stock in detail. Vegetation indices such as DVI (Difference Vegetation Index), EVI (Enhanced Vegetation Index), and MRE-SR (Modified Red Edge-Simple Ratio) and field data were modeled to determine the best vegetation indices to estimate carbon stocks. Carbon stock estimated by allometric equation approach specific to each species of mangrove. Worldview-2 imagery to map mangrove species with an accuracy of 80.95%. Total carbon stock estimation results in the study area of 35.349,87 tons of dominant species Rhizophora apiculata, Rhizophora mucronata and Sonneratia alba.

Fishing and temperature effects on the size structure of exploited fish stocks.

PubMed

Tu, Chen-Yi; Chen, Kuan-Ting; Hsieh, Chih-Hao

2018-05-08

Size structure of fish stock plays an important role in maintaining sustainability of the population. Size distribution of an exploited stock is predicted to shift toward small individuals caused by size-selective fishing and/or warming; however, their relative contribution remains relatively unexplored. In addition, existing analyses on size structure have focused on univariate size-based indicators (SBIs), such as mean length, evenness of size classes, or the upper 95-percentile of the length frequency distribution; these approaches may not capture full information of size structure. To bridge the gap, we used the variation partitioning approach to examine how the size structure (composition of size classes) responded to fishing, warming and the interaction. We analyzed 28 exploited stocks in the West US, Alaska and North Sea. Our result shows fishing has the most prominent effect on the size structure of the exploited stocks. In addition, the fish stocks experienced higher variability in fishing is more responsive to the temperature effect in their size structure, suggesting that fishing may elevate the sensitivity of exploited stocks in responding to environmental effects. The variation partitioning approach provides complementary information to univariate SBIs in analyzing size structure.

Linux Makes the Grade: An Open Source Solution That's Time Has Come

ERIC Educational Resources Information Center

Houston, Melissa

2007-01-01

In 2001, Indiana officials at the Department of Education were taking stock. The schools had an excellent network infrastructure and had installed significant numbers of computers for 1 million public school enrollees. Yet students were spending less than an hour a week on the computer. It was then that state officials knew each student needed a…

The Placer Media Management System or Using the Computer in the Small Film Library.

ERIC Educational Resources Information Center

Luckey, Jacqueline

In describing this media management system, which currently serves 84 public schools (K-12) in four rural counties east of Sacramento, this report suggests that the computer is a practical solution for film libraries trying to keep pace with increased use while not reducing their expenditures for purchasing and repairing film stock. The major…

Affinity Probe Capillary Electrophoresis Evaluation of Aptamer Binding to Campylobacter jejuni Bacteria

DTIC Science & Technology

2009-11-01

absorption coefficients (260nm) of 173,100 M cm–1. Desired stock solutions were freshly prepared with tris- borate ethylenediaminetetraacetic acid (EDTA... McMasters , and Paul M. Pellegrino ARL-TR-5015 November 2009 Approved for public release...Aptamer Binding to Campylobacter jejuni Bacteria Dimitra N. Stratis-Cullum, Sun McMasters , and Paul M. Pellegrino Sensors and Electron Devices

Temporal structure and gain-loss asymmetry for real and artificial stock indices

NASA Astrophysics Data System (ADS)

Siven, Johannes Vitalis; Lins, Jeffrey Todd

2009-11-01

Previous research has shown that for stock indices, the most likely time until a return of a particular size has been observed is longer for gains than for losses. We demonstrate that this so-called gain-loss asymmetry vanishes if the temporal dependence structure is destroyed by scrambling the time series. We also show that an artificial index constructed by a simple average of a number of individual stocks display gain-loss asymmetry—this allows us to explicitly analyze the dependence between the index constituents. We consider mutual information and correlation-based measures and show that the stock returns indeed have a higher degree of dependence in times of market downturns than upturns.

Network interdependency between social media and stock trading activities: Evidence from China

NASA Astrophysics Data System (ADS)

Lin, Shen; Ren, Da; Zhang, Wei; Zhang, Yongjie; Shen, Dehua

2016-06-01

The emergence of social media accelerates the research on information dissemination and its corresponding influence on trading tendency. Based on empirical study of the dynamic relationship between the ratio of re-post microblog and original microblog (RRO) and average volume per transaction (VPT), we find the following results: (1) In microblog network, stocks with high RRO are often accompanied with low statistical VPT; (2) When the discussion about one stock is quite lively in microblog network (such as the blog postings reach a summit), it does not statistically cause the fluctuations of VPT of the stock; (3) Overall speaking, RRO plays a significant role in inverting u-shaped relationship with VPT.

Global financial crisis and weak-form efficiency of Islamic sectoral stock markets: An MF-DFA analysis

NASA Astrophysics Data System (ADS)

Mensi, Walid; Tiwari, Aviral Kumar; Yoon, Seong-Min

2017-04-01

This paper estimates the weak-form efficiency of Islamic stock markets using 10 sectoral stock indices (basic materials, consumer services, consumer goods, energy, financials, health care, industrials, technology, telecommunication, and utilities). The results based on the multifractal detrended fluctuation analysis (MF-DFA) approach show time-varying efficiency for the sectoral stock markets. Moreover, we find that they tend to show high efficiency in the long term but moderate efficiency in the short term, and that these markets become less efficient after the onset of the global financial crisis. These results have several significant implications in terms of asset allocation for investors dealing with Islamic markets.

Interactions between suspension characteristics and physicochemical properties of silver and copper oxide nanoparticles: a case study for optimizing nanoparticle stock suspensions using a central composite design.

PubMed

Son, Jino; Vavra, Janna; Li, Yusong; Seymour, Megan; Forbes, Valery

2015-04-01

The preparation of a stable nanoparticle stock suspension is the first step in nanotoxicological studies, but how different preparation methods influence the physicochemical properties of nanoparticles in a solution, even in Milli-Q water, is often under-appreciated. In this study, a systematic approach using a central composite design (CCD) was employed to investigate the effects of sonication time and suspension concentration on the physicochemical properties (i.e. hydrodynamic diameter, zeta potential and ion dissolution) of silver (Ag) and copper oxide (CuO) nanoparticles (NPs) and to identify optimal conditions for suspension preparation in Milli-Q water; defined as giving the smallest particle sizes, highest suspension stability and lowest ion dissolution. Indeed, all the physicochemical properties of AgNPs and CuONPs varied dramatically depending on how the stock suspensions were prepared and differed profoundly between nanoparticle types, indicating the importance of suspension preparation. Moreover, the physicochemical properties of AgNPs and CuONPs, at least in simple media (Milli-Q water), behaved in predictable ways as a function of sonication time and suspension concentration, confirming the validity of our models. Overall, the approach allows systematic assessment of the influence of various factors on key properties of nanoparticle suspensions, which will facilitate optimization of the preparation of nanoparticle stock suspensions and improve the reproducibility of nanotoxicological results. We recommend that further attention be given to details of stock suspension preparation before conducting nanotoxicological studies as these can have an important influence on the behavior and subsequent toxicity of nanoparticles. Copyright © 2014 Elsevier Ltd. All rights reserved.

Random matrix approach to the dynamics of stock inventory variations

NASA Astrophysics Data System (ADS)

Zhou, Wei-Xing; Mu, Guo-Hua; Kertész, János

2012-09-01

It is well accepted that investors can be classified into groups owing to distinct trading strategies, which forms the basic assumption of many agent-based models for financial markets when agents are not zero-intelligent. However, empirical tests of these assumptions are still very rare due to the lack of order flow data. Here we adopt the order flow data of Chinese stocks to tackle this problem by investigating the dynamics of inventory variations for individual and institutional investors that contain rich information about the trading behavior of investors and have a crucial influence on price fluctuations. We find that the distributions of cross-correlation coefficient Cij have power-law forms in the bulk that are followed by exponential tails, and there are more positive coefficients than negative ones. In addition, it is more likely that two individuals or two institutions have a stronger inventory variation correlation than one individual and one institution. We find that the largest and the second largest eigenvalues (λ1 and λ2) of the correlation matrix cannot be explained by random matrix theory and the projections of investors' inventory variations on the first eigenvector u(λ1) are linearly correlated with stock returns, where individual investors play a dominating role. The investors are classified into three categories based on the cross-correlation coefficients CV R between inventory variations and stock returns. A strong Granger causality is unveiled from stock returns to inventory variations, which means that a large proportion of individuals hold the reversing trading strategy and a small part of individuals hold the trending strategy. Our empirical findings have scientific significance in the understanding of investors' trading behavior and in the construction of agent-based models for emerging stock markets.

Selection Input Output by Restriction Using DEA Models Based on a Fuzzy Delphi Approach and Expert Information

NASA Astrophysics Data System (ADS)

Arsad, Roslah; Nasir Abdullah, Mohammad; Alias, Suriana; Isa, Zaidi

2017-09-01

Stock evaluation has always been an interesting problem for investors. In this paper, a comparison regarding the efficiency stocks of listed companies in Bursa Malaysia were made through the application of estimation method of Data Envelopment Analysis (DEA). One of the interesting research subjects in DEA is the selection of appropriate input and output parameter. In this study, DEA was used to measure efficiency of stocks of listed companies in Bursa Malaysia in terms of the financial ratio to evaluate performance of stocks. Based on previous studies and Fuzzy Delphi Method (FDM), the most important financial ratio was selected. The results indicated that return on equity, return on assets, net profit margin, operating profit margin, earnings per share, price to earnings and debt to equity were the most important ratios. Using expert information, all the parameter were clarified as inputs and outputs. The main objectives were to identify most critical financial ratio, clarify them based on expert information and compute the relative efficiency scores of stocks as well as rank them in the construction industry and material completely. The methods of analysis using Alirezaee and Afsharian’s model were employed in this study, where the originality of Charnes, Cooper and Rhodes (CCR) with the assumption of Constant Return to Scale (CSR) still holds. This method of ranking relative efficiency of decision making units (DMUs) was value-added by the Balance Index. The interested data was made for year 2015 and the population of the research includes accepted companies in stock markets in the construction industry and material (63 companies). According to the ranking, the proposed model can rank completely for 63 companies using selected financial ratio.

Index Fund Selections with GAs and Classifications Based on Turnover

NASA Astrophysics Data System (ADS)

Orito, Yukiko; Motoyama, Takaaki; Yamazaki, Genji

It is well known that index fund selections are important for the risk hedge of investment in a stock market. The`selection’means that for`stock index futures’, n companies of all ones in the market are selected. For index fund selections, Orito et al.(6) proposed a method consisting of the following two steps : Step 1 is to select N companies in the market with a heuristic rule based on the coefficient of determination between the return rate of each company in the market and the increasing rate of the stock price index. Step 2 is to construct a group of n companies by applying genetic algorithms to the set of N companies. We note that the rule of Step 1 is not unique. The accuracy of the results using their method depends on the length of time data (price data) in the experiments. The main purpose of this paper is to introduce a more`effective rule’for Step 1. The rule is based on turnover. The method consisting of Step 1 based on turnover and Step 2 is examined with numerical experiments for the 1st Section of Tokyo Stock Exchange. The results show that with our method, it is possible to construct the more effective index fund than the results of Orito et al.(6). The accuracy of the results using our method depends little on the length of time data (turnover data). The method especially works well when the increasing rate of the stock price index over a period can be viewed as a linear time series data.

An integrated material metabolism model for stocks of urban road system in Beijing, China.

PubMed

Guo, Zhen; Hu, Dan; Zhang, Fuhua; Huang, Guolong; Xiao, Qiang

2014-02-01

Rapid urbanization has greatly altered the urban metabolism of material and energy. As a significant part of the infrastructure, urban roads are being rapidly developed worldwide. Quantitative analysis of metabolic processes on urban road systems, especially the scale, composition and spatial distribution of their stocks, could help to assess the resource appropriation and potential environmental impacts, as well as improve urban metabolism models. In this paper, an integrated model, which covered all types of roads, intersection structures and ancillary facilities, was built for calculating the material stocks of urban road systems. Based on a bottom-up method, the total stocks were disassembled into a number of stock parts rather than obtained by input-output data, which provided an approach promoting data availability and inner structure understanding. The combination with GIS enabled the model to tackle the complex structures of road networks and avoid double counting. In the case study of Beijing, the following results are shown: 1) The total stocks for the entire road system reached 159 million tons, of which nearly 80% was stored in roads, and 20% in ancillary facilities. 2) Macadam was the largest stock (111 million tons), while stone mastic asphalt, polyurethane plastics, and atactic polypropylene accounted for smaller components of the overall system. 3) The stock per unit area of pedestrian overcrossing was higher than that of the other stock units in the entire system, and its steel stocks reached 0.49 t/m(2), which was 10 times as high as that in interchanges. 4) The high stock areas were mainly distributed in ring-shaped and radial expressways, as well as in major interchanges. 5) Expressways and arterials were excessively emphasized, while minor roads were relatively ignored. However, the variation of cross-sectional thickness in branches and neighborhood roads will have a significant impact on the scale of material stocks in the entire road system. © 2013.

Distribution, stock composition and timing, and tagging response of wild Chinook Salmon returning to a large, free-flowing river basin

USGS Publications Warehouse

Eiler, John H.; Masuda, Michele; Spencer, Ted R.; Driscoll, Richard J.; Schreck, Carl B.

2014-01-01

Chinook Salmon Oncorhynchus tshawytscha returns to the Yukon River basin have declined dramatically since the late 1990s, and detailed information on the spawning distribution, stock structure, and stock timing is needed to better manage the run and facilitate conservation efforts. A total of 2,860 fish were radio-tagged in the lower basin during 2002–2004 and tracked upriver. Fish traveled to spawning areas throughout the basin, ranging from several hundred to over 3,000 km from the tagging site. Similar distribution patterns were observed across years, suggesting that the major components of the run were identified. Daily and seasonal composition estimates were calculated for the component stocks. The run was dominated by two regional components comprising over 70% of the return. Substantially fewer fish returned to other areas, ranging from 2% to 9% of the return, but their collective contribution was appreciable. Most regional components consisted of several principal stocks and a number of small, spatially isolated populations. Regional and stock composition estimates were similar across years even though differences in run abundance were reported, suggesting that the differences in abundance were not related to regional or stock-specific variability. Run timing was relatively compressed compared with that in rivers in the southern portion of the species’ range. Most stocks passed through the lower river over a 6-week period, ranging in duration from 16 to 38 d. Run timing was similar for middle- and upper-basin stocks, limiting the use of timing information for management. The lower-basin stocks were primarily later-run fish. Although differences were observed, there was general agreement between our composition and timing estimates and those from other assessment projects within the basin, suggesting that the telemetry-based estimates provided a plausible approximation of the return. However, the short duration of the run, complex stock structure, and similar stock timing complicate management of Yukon River returns.

Climate influence on Baltic cod, sprat, and herring stock-recruitment relationships

NASA Astrophysics Data System (ADS)

Margonski, Piotr; Hansson, Sture; Tomczak, Maciej T.; Grzebielec, Ryszard

2010-10-01

A wide range of possible recruitment drivers were tested for key exploited fish species in the Baltic Sea Regional Advisory Council (RAC) area: Eastern Baltic Cod, Central Baltic Herring, Gulf of Riga Herring, and sprat. For each of the stocks, two hypotheses were tested: (i) recruitment is significantly related to spawning stock biomass, climatic forcing, and feeding conditions and (ii) by acknowledging these drivers, management decisions can be improved. Climate impact expressed by climatic indices or changes in water temperature was included in all the final models. Recruitment of the herring stock appeared to be influenced by different factors: the spawning stock biomass, winter Baltic Sea Index prior to spawning, and potentially the November-December sea surface temperature during the winter after spawning were important to Gulf of Riga Herring, while the final models for Central Baltic Herring included spawning stock biomass and August sea surface temperature. Recruitment of sprat appeared to be influenced by July-August temperature, but was independent of the spawning biomass when SSB > 200,000 tons. Recruitment of Eastern Baltic Cod was significantly related to spawning stock biomass, the winter North Atlantic Oscillation index, and the reproductive volume in the Gotland Basin in May. All the models including extrinsic factors significantly improved prediction ability as compared to traditional models, which account for impacts of the spawning stock biomass alone. Based on the final models the minimum spawning stock biomass to derive the associated minimum recruitment under average environmental conditions was calculated for each stock. Using uncertainty analyses, the spawning stock biomass required to produce associated minimum recruitment was presented with different probabilities considering the influence of the extrinsic drivers. This tool allows for recruitment to be predicted with a required probability, that is, higher than the average 50% estimated from the models. Further, this approach considers unfavorable environmental conditions which mean that a higher spawning stock biomass is needed to maintain recruitment at a required level.

Volatility measurement with directional change in Chinese stock market: Statistical property and investment strategy

NASA Astrophysics Data System (ADS)

Ma, Junjun; Xiong, Xiong; He, Feng; Zhang, Wei

2017-04-01

The stock price fluctuation is studied in this paper with intrinsic time perspective. The event, directional change (DC) or overshoot, are considered as time scale of price time series. With this directional change law, its corresponding statistical properties and parameter estimation is tested in Chinese stock market. Furthermore, a directional change trading strategy is proposed for invest in the market portfolio in Chinese stock market, and both in-sample and out-of-sample performance are compared among the different method of model parameter estimation. We conclude that DC method can capture important fluctuations in Chinese stock market and gain profit due to the statistical property that average upturn overshoot size is bigger than average downturn directional change size. The optimal parameter of DC method is not fixed and we obtained 1.8% annual excess return with this DC-based trading strategy.

Intertransaction Class Association Rule Mining Based on Genetic Network Programming and Its Application to Stock Market Prediction

NASA Astrophysics Data System (ADS)

Yang, Yuchen; Mabu, Shingo; Shimada, Kaoru; Hirasawa, Kotaro

Intertransaction association rules have been reported to be useful in many fields such as stock market prediction, but still there are not so many efficient methods to dig them out from large data sets. Furthermore, how to use and measure these more complex rules should be considered carefully. In this paper, we propose a new intertransaction class association rule mining method based on Genetic Network Programming (GNP), which has the ability to overcome some shortages of Apriori-like based intertransaction association methods. Moreover, a general classifier model for intertransaction rules is also introduced. In experiments on the real world application of stock market prediction, the method shows its efficiency and ability to obtain good results and can bring more benefits with a suitable classifier considering larger interval span.

Multifractal property of Chinese stock market in the CSI 800 index based on MF-DFA approach

NASA Astrophysics Data System (ADS)

Zhu, Huijian; Zhang, Weiguo

2018-01-01

CSI 800 index consists of CSI 500 index and CSI 300 index, aiming to reflect the performance of stocks with large, mid and small size of China A share market. In this paper we analyze the multifractal structure of Chinese stock market in the CSI 800 index based on the multifractal detrended fluctuation analysis (MF-DFA) method. We find that the fluctuation of the closing logarithmic returns have multifractal properties, the shape and width of multifractal spectrum are depended on the weighing order q. More interestingly, we observe a bigger market crash in June-August 2015 than the one in 2008 based on the local Hurst exponents. The result provides important information for further study on dynamic mechanism of return fluctuation and whether it would trigger a new financial crisis.

Fourteen-year survival of Pseudomonas cepacia in a salts solution preserved with benzalkonium chloride.

PubMed Central

Geftic, S G; Heymann, H; Adair, F W

1979-01-01

A strain of Pseudomonas cepacia that survived for 14 years (1963 to 1977) as a contaminant in an inorganic salt solution which contained commercial 0.05% benzalkonium chloride (CBC) as an antimicrobial preservative, was compared to a recent clinical isolate of P. cepacia. Ammonium acetate was present in the concentrated stock CBC solution, and served as a carbon and nitrogen source for growth when carried over into the salts solution with the CBC. The isolate's resistance to pure benzalkonium chloride was increased step-wise to a concentration of 16%. Plate counts showed 4 x 10(3) colony-forming units per ml in the salts solution. Comparison of growth rates, mouse virulence, antibiotics resistance spectra, and substrate requirements disclosed no differences between the contaminant and a recently isolated clinical strain of P. cepacia. The results indicate that it is critical that pharmaceutical solutions containing benzalkonium chloride as an antimicrobial preservative be formulated without extraneous carbon and nitrogen sources or be preserved with additional antimicrobial agents. PMID:453827

Predicted yields from selected cutting prescriptions in northern Minnesota.

Treesearch

Pamela J. Jakes; W. Brad Smith

1980-01-01

Includes predicted yields based on two sets of cutting prescriptions in northern Minnesota. Indicates that given a specific set of assumptions, average annual growing-stock removals for the decade 1977-1986 would be from 69% to 124% higher than 1976 growing-stock removals.

77 FR 47043 - Draft 2012 Marine Mammal Stock Assessment Reports

Federal Register 2010, 2011, 2012, 2013, 2014

2012-08-07

...], by any of the following methods: Electronic Submissions: Submit all electronic public comments via... mortality exceeds the potential biological removal level; (B) which, based on the best available scientific... Pacific independent Scientific Review Groups (SRGs), reviewed the status of marine mammal stocks as...

Inventorying Toronto's single detached housing stocks to examine the availability of clay brick for urban mining.

PubMed

Ergun, Deniz; Gorgolewski, Mark

2015-11-01

This study examines the stocks of clay brick in Toronto's single detached housing, to provide parameters for city scale material reuse and recycling. Based on consensus from the literature and statistics on Toronto's single detached housing stocks, city scale reusable and recyclable stocks were estimated to provide an understanding of what volume could be saved from landfill and reintroduced into the urban fabric. On average 2523-4542 m(3) of brick was determined to be available annually for reuse, which would account for 20-36% of the volume of virgin brick consumed in new house construction in 2012. A higher volume, 6187 m(3) of brick, was determined to be available annually for recycling because more of the prevalence of cement-based mortar, which creates challenges for brick reuse in Toronto. The results demonstrated that older housing containing reusable brick were being mostly landfilled and replaced with housing that contained only recyclable brick. Copyright © 2015 Elsevier Ltd. All rights reserved.

Understanding agent-based models of financial markets: A bottom-up approach based on order parameters and phase diagrams

NASA Astrophysics Data System (ADS)

Lye, Ribin; Tan, James Peng Lung; Cheong, Siew Ann

2012-11-01

We describe a bottom-up framework, based on the identification of appropriate order parameters and determination of phase diagrams, for understanding progressively refined agent-based models and simulations of financial markets. We illustrate this framework by starting with a deterministic toy model, whereby N independent traders buy and sell M stocks through an order book that acts as a clearing house. The price of a stock increases whenever it is bought and decreases whenever it is sold. Price changes are updated by the order book before the next transaction takes place. In this deterministic model, all traders based their buy decisions on a call utility function, and all their sell decisions on a put utility function. We then make the agent-based model more realistic, by either having a fraction fb of traders buy a random stock on offer, or a fraction fs of traders sell a random stock in their portfolio. Based on our simulations, we find that it is possible to identify useful order parameters from the steady-state price distributions of all three models. Using these order parameters as a guide, we find three phases: (i) the dead market; (ii) the boom market; and (iii) the jammed market in the phase diagram of the deterministic model. Comparing the phase diagrams of the stochastic models against that of the deterministic model, we realize that the primary effect of stochasticity is to eliminate the dead market phase.

Spatial and annual variation in fecundity and oocyte atresia of yellowtail flounder, Limanda ferruginea, in U.S. waters

NASA Astrophysics Data System (ADS)

McElroy, W. David; Wuenschel, Mark J.; Towle, Emilee K.; McBride, Richard S.

2016-01-01

Potential annual fecundity (PAF) was estimated over three years (2010-2012) for yellowtail flounder with individuals from the three stocks off the northeast U.S. coast. Down-regulation of PAF, the resorption of oocytes during development, was evident as the vitellogenic cohort advanced, so we directly measured atresia of vitellogenic oocytes using stereological techniques. PAF models including relative fish condition, stock area, year, and oocyte diameter of the leading cohort explained more variation than models with just size alone based on Akaike information criteria. In a given year, Gulf of Maine females had lower PAF at size than southern New England females. Interannual differences were evident: PAF of both stocks was higher in 2010 and lower in 2012, with 2011 showing less synchronization between these stocks. Differences in size at age and relative condition suggested that energy available for somatic and reproductive growth was lower in some years in the Gulf of Maine and Georges Bank, especially in 2011. Georges Bank PAF and condition were intermediate to the other stocks or more similar to the Gulf of Maine, varying annually. A latitudinal gradient in PAF is evident based on our results and relative to earlier studies that included Canadian stocks. The magnitude of down-regulation was variable across stocks and typically 3-25% of PAF. This can be accounted for in fecundity estimates, by the seasonal schedule of sampling and use of an oocyte diameter term in the fecundity model. Theoretical models of atresia patterns suggested variable rates over the later portion of clutch development. The timing of down-regulation varied among years, and its intensity was influenced by female relative condition. Fecundity was related to fish size, but was also affected by fish condition and oocyte diameter (a proxy for time until spawning), and spatial and temporal effects. A longer time series of PAF may identify environmental drivers that modulate annual stock reproductive potential.

Sampling for Soil Carbon Stock Assessment in Rocky Agricultural Soils

NASA Technical Reports Server (NTRS)

Beem-Miller, Jeffrey P.; Kong, Angela Y. Y.; Ogle, Stephen; Wolfe, David

2016-01-01

Coring methods commonly employed in soil organic C (SOC) stock assessment may not accurately capture soil rock fragment (RF) content or soil bulk density (rho (sub b)) in rocky agricultural soils, potentially biasing SOC stock estimates. Quantitative pits are considered less biased than coring methods but are invasive and often cost-prohibitive. We compared fixed-depth and mass-based estimates of SOC stocks (0.3-meters depth) for hammer, hydraulic push, and rotary coring methods relative to quantitative pits at four agricultural sites ranging in RF content from less than 0.01 to 0.24 cubic meters per cubic meter. Sampling costs were also compared. Coring methods significantly underestimated RF content at all rocky sites, but significant differences (p is less than 0.05) in SOC stocks between pits and corers were only found with the hammer method using the fixed-depth approach at the less than 0.01 cubic meters per cubic meter RF site (pit, 5.80 kilograms C per square meter; hammer, 4.74 kilograms C per square meter) and at the 0.14 cubic meters per cubic meter RF site (pit, 8.81 kilograms C per square meter; hammer, 6.71 kilograms C per square meter). The hammer corer also underestimated rho (sub b) at all sites as did the hydraulic push corer at the 0.21 cubic meters per cubic meter RF site. No significant differences in mass-based SOC stock estimates were observed between pits and corers. Our results indicate that (i) calculating SOC stocks on a mass basis can overcome biases in RF and rho (sub b) estimates introduced by sampling equipment and (ii) a quantitative pit is the optimal sampling method for establishing reference soil masses, followed by rotary and then hydraulic push corers.

The Use of Mixed Effects Models for Obtaining Low-Cost Ecosystem Carbon Stock Estimates in Mangroves of the Asia-Pacific

NASA Astrophysics Data System (ADS)

Bukoski, J. J.; Broadhead, J. S.; Donato, D.; Murdiyarso, D.; Gregoire, T. G.

2016-12-01

Mangroves provide extensive ecosystem services that support both local livelihoods and international environmental goals, including coastal protection, water filtration, biodiversity conservation and the sequestration of carbon (C). While voluntary C market projects that seek to preserve and enhance forest C stocks offer a potential means of generating finance for mangrove conservation, their implementation faces barriers due to the high costs of quantifying C stocks through measurement, reporting and verification (MRV) activities. To streamline MRV activities in mangrove C forestry projects, we develop predictive models for (i) biomass-based C stocks, and (ii) soil-based C stocks for the mangroves of the Asia-Pacific. We use linear mixed effect models to account for spatial correlation in modeling the expected C as a function of stand attributes. The most parsimonious biomass model predicts total biomass C stocks as a function of both basal area and the interaction between latitude and basal area, whereas the most parsimonious soil C model predicts soil C stocks as a function of the logarithmic transformations of both latitude and basal area. Random effects are specified by site for both models, and are found to explain a substantial proportion of variance within the estimation datasets. The root mean square error (RMSE) of the biomass C model is approximated at 24.6 Mg/ha (18.4% of mean biomass C in the dataset), whereas the RMSE of the soil C model is estimated at 4.9 mg C/cm 3 (14.1% of mean soil C). A substantial proportion of the variation in soil C, however, is explained by the random effects and thus the use of the SOC model may be most valuable for sites in which field measurements of soil C exist.

Design of an unmanned lunar cargo lander that reconfigures into a shelter for a habitation module or disassembles into parts useful to a permanent manned lunar base

NASA Technical Reports Server (NTRS)

Davanay, Lisa; Garner, Brian; Rigol, Jason

1989-01-01

NASA plans to establish a permanent manned lunar base by the first decade of the twenty-first century. It is extremely expensive to transport material from earth to the moon. Therefore, expense would be reduced if the vehicle that lands cargo on the moon could itself meet some of the material needs of establishing the lunar base. The design of a multi-functional lander that is entirely useful to the base after landing is described. Alternate designs of the overall lander configuration and possible uses of the lander and its components after landing are contained. The design solution is a lander employing the Saddlebagged Fuel Tank Configuration. After landing, its structure will be converted into a habitation module shelter that supports a protective layer of regolith. The fuel tanks will be cleaned and used as storage tanks for the lunar base. The engines and instrumentation will be saved as stock parts. Recommendations for further research and technology development to enhance future lander designs are given.

Site productivity and forest carbon stocks in the United States: Analysis and implications for forest offset project planning

Treesearch

Coeli M. Hoover; James E. Smith

2012-01-01

The documented role of United States forests in sequestering carbon, the relatively low cost of forest-based mitigation, and the many co-benefits of increasing forest carbon stocks all contribute to the ongoing trend in the establishment of forest-based carbon offset projects. We present a broad analysis of forest inventory data using site quality indicators to provide...

The asset pricing model of musharakah factors

NASA Astrophysics Data System (ADS)

Simon, Shahril; Omar, Mohd; Lazam, Norazliani Md

2015-02-01

The existing three-factor model developed by Fama and French for conventional investment was formulated based on risk-free rates element in which contradict with Shariah principles. We note that the underlying principles that govern Shariah investment were mutual risk and profit sharing between parties, the assurance of fairness for all and that transactions were based on an underlying asset. In addition, the three-factor model did not exclude stock that was not permissible by Shariah such as financial services based on riba (interest), gambling operator, manufacture or sale of non-halal products or related products and other activities deemed non-permissible according to Shariah. Our approach to construct the factor model for Shariah investment was based on the basic tenets of musharakah in tabulating the factors. We start by noting that Islamic stocks with similar characteristics should have similar returns and risks. This similarity between Islamic stocks was defined by the similarity of musharakah attributes such as business, management, profitability and capital. These attributes define factor exposures (or betas) to factors. The main takeaways were that musharakah attributes we chose had explain stock returns well in cross section and were significant in different market environments. The management factor seemed to be responsible for the general dynamics of the explanatory power.

12 years of intensive management increases soil carbon stocks in Loblolly pine and Sweetgum stands

NASA Astrophysics Data System (ADS)

Sanchez, F. G.; Samuelson, L.; Johnsen, K.

2009-12-01

To achieve and maintain productivity goals, forest managers rely on intensive management strategies. These strategies have resulted in considerable gains in forest productivity. However, the impacts of these strategies on belowground carbon dynamics is less clear. Carbon dynamics are influenced by a multitude of factors including soil moisture, nutrient status, net primary productivity and carbon allocation patterns. In this study, we describe the impact of four management strategies on soil carbon and nitrogen stocks in 12-year-old loblolly pine and sweetgum plantations. The management strategies are: (1) complete understory control, (2) complete understory control + drip irrigation, (3) complete understory control + drip irrigation and fertilization and (4) complete understory control + drip irrigation and fertilization and pest control. These management strategies were replicated on 3 blocks in a randomized complete block design. After 12 years, soil carbon stocks increased with increasing management intensity for both tree species. This effect was consistent throughout the depth increments measured (0-10, 10-20, 20-30 cm). Alternatively, no significant effect was detected for soil nitrogen at any depth increment. Sweetgum had higher soil carbon and nitrogen stocks at each depth increment than loblolly pine. There was a greater difference in nitrogen stocks than carbon stocks between the two species resulting in lower soil C:N ratios in the sweetgum stands. These observations may be due to differences in net primary productivity, rooting structure and carbon allocation patterns of sweetgum compared with loblolly pine. To determine the relative stability of the carbon and nitrogen stocks for the different treatments and tree species, we sequentially fractionated the soil samples into six fractions of differing stability. Although soil carbon stocks for both species increased with management intensity, there was no detectable difference in the soil carbon fractions based on management intensity. Additionally, there was no difference between soil carbon fractions based on tree species. These observations suggest that although external inputs (i.e., moisture, carbon and nutrients) increase soil carbon stocks, they do not alter soil carbon stabilization mechanisms at these sites.

Effects of stocking density on growth performance, meat quality and tibia development of Pekin ducks.

PubMed

Zhang, Ya Ru; Zhang, Lu Shuang; Wang, Zhong; Liu, Yang; Li, Fu Huang; Yuan, Jian Min; Xia, Zhao Fei

2018-06-01

This study was performed to investigate the effects of stocking density on performance, meat quality and tibia development in Pekin ducks reared on a plastic wire floor. A total of 372 healthy, 21-day-old, male ducks with similar body weight (BW) were randomly allotted to stocking densities of five (low), eight (medium) and 11 (high) birds/m 2 . Each group had six replicates. Results showed that compared with the low density group, medium and high stocking density caused a decrease in final BW at 42 days old, and in average daily gain, European performance index (p < .01) and meat pH at 45 min postmortem (p < .001), and an increase of meat drip loss (p < .01). High stocking density resulted in an increase of feed/gain ratio (p < .001), but a decrease of tibia calcium (p < .01) and phosphorus content (p < .05). Meat color, shear force values, tibia size (weight, length, and width) and breaking strength were not significantly influenced by stocking density. In conclusion, stocking density over eight birds/m 2 negatively affects growth performance, but meat quality and tibia development are not dramatically influenced. Based on this study, the stocking density of male Pekin ducks should be adjusted between five and eight birds/m 2 . © 2018 Japanese Society of Animal Science.

Rapid diagnostic test supply chain and consumption study in Cabo Delgado, Mozambique: estimating stock shortages and identifying drivers of stock-outs.

PubMed

Hasselback, Leah; Crawford, Jessica; Chaluco, Timoteo; Rajagopal, Sharanya; Prosser, Wendy; Watson, Noel

2014-08-02

Malaria rapid diagnostic tests (RDTs) are particularly useful in low-resource settings where follow-through on traditional laboratory diagnosis is challenging or lacking. The availability of these tests depends on supply chain processes within the distribution system. In Mozambique, stock-outs of malaria RDTs are fairly common at health facilities. A longitudinal cross-sectional study was conducted to evaluate drivers of stock shortages in the Cabo Delgado province. Data were collected from purposively sampled health facilities, using monthly cross-sectional surveys between October 2011 and May 2012. Estimates of lost consumption (consumption not met due to stock-outs) served as the primary quantitative indicator of stock shortages. This is a better measure of the magnitude of stock-outs than binary indicators that only measure frequency of stock-outs at a given facility. Using a case study based methodology, distribution system characteristics were qualitatively analysed to examine causes of stock-outs at the provincial, district and health centre levels. 15 health facilities were surveyed over 120 time points. Stock-out patterns varied by data source; average monthly proportions of 59%, 17% and 17% of health centres reported a stock-out on stock cards, laboratory and pharmacy forms, respectively. Estimates of lost consumption percentage were significantly high; ranging from 0% to 149%; with a weighted average of 78%. Each ten-unit increase in monthly-observed consumption was associated with a nine-unit increase in lost consumption percentage indicating that higher rates of stock-outs occurred at higher levels of observed consumption. Causes of stock-outs included inaccurate tracking of lost consumption, insufficient sophistication in inventory management and replenishment, and poor process compliance by facility workers, all arguably stemming from inadequate attention to the design and implementation of the distribution system. Substantially high levels of RDT stock-outs were found in Cabo Delgado. Study findings point to a supply chain with a commendable degree of sophistication. However, insufficient attention paid to system design and implementation resulted in deteriorating performance in areas of increased need. In such settings fast moving commodities like malaria RDTs can call attention to supply chain vulnerabilities, the findings from which can be used to address other slower moving health commodities.

Rapid diagnostic test supply chain and consumption study in Cabo Delgado, Mozambique: estimating stock shortages and identifying drivers of stock-outs

PubMed Central

2014-01-01

Background Malaria rapid diagnostic tests (RDTs) are particularly useful in low-resource settings where follow-through on traditional laboratory diagnosis is challenging or lacking. The availability of these tests depends on supply chain processes within the distribution system. In Mozambique, stock-outs of malaria RDTs are fairly common at health facilities. A longitudinal cross-sectional study was conducted to evaluate drivers of stock shortages in the Cabo Delgado province. Methods Data were collected from purposively sampled health facilities, using monthly cross-sectional surveys between October 2011 and May 2012. Estimates of lost consumption (consumption not met due to stock-outs) served as the primary quantitative indicator of stock shortages. This is a better measure of the magnitude of stock-outs than binary indicators that only measure frequency of stock-outs at a given facility. Using a case study based methodology, distribution system characteristics were qualitatively analysed to examine causes of stock-outs at the provincial, district and health centre levels. Results 15 health facilities were surveyed over 120 time points. Stock-out patterns varied by data source; average monthly proportions of 59%, 17% and 17% of health centres reported a stock-out on stock cards, laboratory and pharmacy forms, respectively. Estimates of lost consumption percentage were significantly high; ranging from 0% to 149%; with a weighted average of 78%. Each ten-unit increase in monthly-observed consumption was associated with a nine-unit increase in lost consumption percentage indicating that higher rates of stock-outs occurred at higher levels of observed consumption. Causes of stock-outs included inaccurate tracking of lost consumption, insufficient sophistication in inventory management and replenishment, and poor process compliance by facility workers, all arguably stemming from inadequate attention to the design and implementation of the distribution system. Conclusions Substantially high levels of RDT stock-outs were found in Cabo Delgado. Study findings point to a supply chain with a commendable degree of sophistication. However, insufficient attention paid to system design and implementation resulted in deteriorating performance in areas of increased need. In such settings fast moving commodities like malaria RDTs can call attention to supply chain vulnerabilities, the findings from which can be used to address other slower moving health commodities. PMID:25086645

The properties of realized volatility and realized correlation: Evidence from the Indian stock market

NASA Astrophysics Data System (ADS)

Gkillas (Gillas), Konstantinos; Vortelinos, Dimitrios I.; Saha, Shrabani

2018-02-01

This paper investigates the properties of realized volatility and correlation series in the Indian stock market by employing daily data converting to monthly frequency of five different stock indices from January 2, 2006 to November 30, 2014. Using non-parametric estimation technique the properties examined include normality, long-memory, asymmetries, jumps, and heterogeneity. The realized volatility is a useful technique which provides a relatively accurate measure of volatility based on the actual variance which is beneficial for asset management in particular for non-speculative funds. The results show that realized volatility and correlation series are not normally distributed, with some evidence of persistence. Asymmetries are also evident in both volatilities and correlations. Both jumps and heterogeneity properties are significant; whereas, the former is more significant than the latter. The findings show that properties of volatilities and correlations in Indian stock market have similarities as that show in the stock markets in developed countries such as the stock market in the United States which is more prevalent for speculative business traders.

Ignoring the Evidence: Another Decade of Decline for School Libraries

ERIC Educational Resources Information Center

Oberg, Dianne

2012-01-01

Four decades of research indicates that well-staffed, well-stocked, and well-used school libraries are correlated with increases in student achievement. Well-staffed school libraries have qualified teacher-librarians with qualifications in librarianship, digital technologies, and inquiry-based pedagogies. Well-stocked school libraries include…

Estimating influence of stocking regimes on livestock grazing distributions

USDA-ARS?s Scientific Manuscript database

Ungulates often concentrate grazing at small hotspots in the larger landscape, and dispersing livestock away from these intensively grazed areas is one of the central challenges in range management. We evaluated a technique based on shifting the stocking date to prevent overgrazing of small areas co...

Lake trout restoration in the Great Lakes: stock-size criteria for natural reproduction

USGS Publications Warehouse

Selgeby, James H.; Bronte, Charles R.; Brown, Edward H.; Hansen, Michael J.; Holey, Mark E.; VanAmberg, Jan P.; Muth, Kenneth M.; Makauskas, Daniel B.; Mckee, Patrick; Anderson, David M.; Ferreri, C. Paola; Schram, Stephen T.

1995-01-01

We examined the question of whether the lake trout restoration program in the Great Lakes has developed brood stocks of adequate size to sustain natural reproduction. Stock size criteria were developed from areas of the Great Lakes where natural reproduction has been successful (defined as detection of age-1 or older recruits by assessment fishing). We contrasted them with stocks in areas with no natural reproduction. Based on the relative abundance of spawners measured in the fall and the presence or absence of natural reproduction in 24 areas of the Great Lakes, we found three distinct sets of lake trout populations. In seven areas of successful natural reproduction, the catch-per-unit-effort (CPE) of spawners ranged from 17 to 135 fish/305 m of gillnet. Stock sizes in these areas were used as a gauge against which stocks in other areas were contrasted. We conclude that stock densities of 17-135 fish/305 m of gill net are adequate for natural reproduction, provided that all other requirements are met. No natural reproduction has been detected in seven other areas, where CPEs of spawners ranged from only 3 to 5 fish/305 m. We conclude that spawning stocks of only 3-5 fish/305 m of net are inadequate to develop measurable natural reproduction. Natural reproduction has also not been detected in ten areas where CPEs of spawners ranged from 43 to 195 fish/305 m of net. We conclude that spawning stocks in these ten areas were adequate to sustain natural reproduction, but that some factor other than parental stock size prevented recruitment of wild lake trout.

An Improved Hierarchical Genetic Algorithm for Sheet Cutting Scheduling with Process Constraints

PubMed Central

Rao, Yunqing; Qi, Dezhong; Li, Jinling

2013-01-01

For the first time, an improved hierarchical genetic algorithm for sheet cutting problem which involves n cutting patterns for m non-identical parallel machines with process constraints has been proposed in the integrated cutting stock model. The objective of the cutting scheduling problem is minimizing the weighted completed time. A mathematical model for this problem is presented, an improved hierarchical genetic algorithm (ant colony—hierarchical genetic algorithm) is developed for better solution, and a hierarchical coding method is used based on the characteristics of the problem. Furthermore, to speed up convergence rates and resolve local convergence issues, a kind of adaptive crossover probability and mutation probability is used in this algorithm. The computational result and comparison prove that the presented approach is quite effective for the considered problem. PMID:24489491

The predictive protective control of the heat exchanger

NASA Astrophysics Data System (ADS)

Nevriva, Pavel; Filipova, Blanka; Vilimec, Ladislav

2016-06-01

The paper deals with the predictive control applied to flexible cogeneration energy system FES. FES was designed and developed by the VITKOVICE POWER ENGINEERING joint-stock company and represents a new solution of decentralized cogeneration energy sources. In FES, the heating medium is flue gas generated by combustion of a solid fuel. The heated medium is power gas, which is a gas mixture of air and water steam. Power gas is superheated in the main heat exchanger and led to gas turbines. To protect the main heat exchanger against damage by overheating, the novel predictive protective control based on the mathematical model of exchanger was developed. The paper describes the principle, the design and the simulation of the predictive protective method applied to main heat exchanger of FES.

Proceedings of oceans 87. The ocean - an international workplace

DOE Office of Scientific and Technical Information (OSTI.GOV)

Not Available

1987-01-01

This book includes proceedings containing 347 papers. Some of the topics are: ICE -Cold ocean and ice research; ICE-1-Icebergs; ICE-2-Sea ice and structures; IE-3-Cold ocean instrumentation; ICE-4-Ocean and ice; INS-Oceanographic instrumentation; INS-1-Acoustic Doppler Current profilers; ENG-1-New solutions to old problems; ENG-2-energy from the ocean; ENG-3-Cables and connectors; POL-Policy, education and technology transfer; POL-1-International issues; POL-2-Ocean space utilization; POL-3-Economics, planning and management; SCI-6-fish stock assessment; ACI-7-Coastal currents and sediment; SCI-9-Satellite navigation; SCI-10-Deep sea minerals and methods of recovery; ODS-Fifth working symposium on oceanographic data system; ODS-1-Data base management; UND-Underwater work systems; UND-1-Diving for science.

Additive Manufacturing of a Microbial Fuel Cell—A detailed study

PubMed Central

Calignano, Flaviana; Tommasi, Tonia; Manfredi, Diego; Chiolerio, Alessandro

2015-01-01

In contemporary society we observe an everlasting permeation of electron devices, smartphones, portable computing tools. The tiniest living organisms on Earth could become the key to address this challenge: energy generation by bacterial processes from renewable stocks/waste through devices such as microbial fuel cells (MFCs). However, the application of this solution was limited by a moderately low efficiency. We explored the limits, if any, of additive manufacturing (AM) technology to fabricate a fully AM-based powering device, exploiting low density, open porosities able to host the microbes, systems easy to fuel continuously and to run safely. We obtained an optimal energy recovery close to 3 kWh m−3 per day that can power sensors and low-power appliances, allowing data processing and transmission from remote/harsh environments. PMID:26611142

Development of a variable structure-based fault detection and diagnosis strategy applied to an electromechanical system

NASA Astrophysics Data System (ADS)

Gadsden, S. Andrew; Kirubarajan, T.

2017-05-01

Signal processing techniques are prevalent in a wide range of fields: control, target tracking, telecommunications, robotics, fault detection and diagnosis, and even stock market analysis, to name a few. Although first introduced in the 1950s, the most popular method used for signal processing and state estimation remains the Kalman filter (KF). The KF offers an optimal solution to the estimation problem under strict assumptions. Since this time, a number of other estimation strategies and filters were introduced to overcome robustness issues, such as the smooth variable structure filter (SVSF). In this paper, properties of the SVSF are explored in an effort to detect and diagnosis faults in an electromechanical system. The results are compared with the KF method, and future work is discussed.

Additive Manufacturing of a Microbial Fuel Cell—A detailed study

NASA Astrophysics Data System (ADS)

Calignano, Flaviana; Tommasi, Tonia; Manfredi, Diego; Chiolerio, Alessandro

2015-11-01

In contemporary society we observe an everlasting permeation of electron devices, smartphones, portable computing tools. The tiniest living organisms on Earth could become the key to address this challenge: energy generation by bacterial processes from renewable stocks/waste through devices such as microbial fuel cells (MFCs). However, the application of this solution was limited by a moderately low efficiency. We explored the limits, if any, of additive manufacturing (AM) technology to fabricate a fully AM-based powering device, exploiting low density, open porosities able to host the microbes, systems easy to fuel continuously and to run safely. We obtained an optimal energy recovery close to 3 kWh m-3 per day that can power sensors and low-power appliances, allowing data processing and transmission from remote/harsh environments.

An improved hierarchical genetic algorithm for sheet cutting scheduling with process constraints.

PubMed

Rao, Yunqing; Qi, Dezhong; Li, Jinling

2013-01-01

For the first time, an improved hierarchical genetic algorithm for sheet cutting problem which involves n cutting patterns for m non-identical parallel machines with process constraints has been proposed in the integrated cutting stock model. The objective of the cutting scheduling problem is minimizing the weighted completed time. A mathematical model for this problem is presented, an improved hierarchical genetic algorithm (ant colony--hierarchical genetic algorithm) is developed for better solution, and a hierarchical coding method is used based on the characteristics of the problem. Furthermore, to speed up convergence rates and resolve local convergence issues, a kind of adaptive crossover probability and mutation probability is used in this algorithm. The computational result and comparison prove that the presented approach is quite effective for the considered problem.

Correlation dimension of financial market

NASA Astrophysics Data System (ADS)

Nie, Chun-Xiao

2017-05-01

In this paper, correlation dimension is applied to financial data analysis. We calculate the correlation dimensions of some real market data and find that the dimensions are significantly smaller than those of the simulation data based on geometric Brownian motion. Based on the analysis of the Chinese and US stock market data, the main results are as follows. First, by calculating three data sets for the Chinese and US market, we find that large market volatility leads to a significant decrease in the dimensions. Second, based on 5-min stock price data, we find that the Chinese market dimension is significantly larger than the US market; this shows a significant difference between the two markets for high frequency data. Third, we randomly extract stocks from a stock set and calculate the correlation dimensions, and find that the average value of these dimensions is close to the dimension of the original set. In addition, we analyse the intuitional meaning of the relevant dimensions used in this paper, which are directly related to the average degree of the financial threshold network. The dimension measures the speed of the average degree that varies with the threshold value. A smaller dimension means that the rate of change is slower.

Is there any connection between the network morphology and the fluctuations of the stock market index?

NASA Astrophysics Data System (ADS)

Stefan, F. M.; Atman, A. P. F.

2015-02-01

Models which consider behavioral aspects of the investors have attracted increasing interest in the Finance and Econophysics literature in the last years. Different behavioral profiles (imitation, anti-imitation, indifference) were proposed for the investors, which take their decision based on their trust network (neighborhood). Results from agent-based models have shown that most of the features observed in actual stock market indices can be replicated in simulations. Here, we present a deeper investigation of an agent based model considering different network morphologies (regular, random, small-world) for the investors' trust network, in an attempt to answer the question raised in the title. We study the model by considering four scenarios for the investors and different initial conditions to analyze their influence in the stock market fluctuations. We have characterized the stationary limit for each scenario tested, focusing on the changes introduced when complex networks were used, and calculated the Hurst exponent in some cases. Simulations showed interesting results suggesting that the fluctuations of the stock market index are strongly affected by the network morphology, a remarkable result which we believe was never reported or predicted before.

Comparison of 3 tall fescue-based stocker systems.

PubMed

Bailey, N J; Kallenbach, R L

2010-05-01

A 2-yr production study was conducted to evaluate 3 systems of growing stocker calves under rotational stocking. One group of steers was stocked on pasture from early April to mid August (spring-stocked steers = SSS), and another group of steers was stocked from early July to late October (fall-stocked steers = FSS). Steers were stratified by BW (n = 72, BW = 229 +/- 11 kg for SSS; n = 72, BW = 248 +/- 18 kg for FSS) and randomly assigned to 1 of 3 treatments. The 3 treatments were 1) rotationally stocked only (control; CON), steers rotated to a new paddock as forage availability dropped below acceptable levels in the occupied paddock; 2) rotationally stocked with distillers grains (DIST); this was the same as CON except steers were supplemented with varying amounts of distillers dried grains with solubles (DDGS) based on forage nutritive value; and 3) rotationally stocked with round-bale silage (SIL); excess forage in spring was harvested and stored as round-bale silage and fed back as needed. Total BW gain/ha over the entire grazing season did not differ between DIST and SIL (P = 0.09) steers, but both were greater than CON (P < 0.01). Total BW gain/ha for DIST, SIL, and CON was 459 (SEM = 11.5), 402 (SEM = 31.0), and 276 (SEM = 26.2) kg, respectively. For ADG, there was a group x year (P < 0.01) and group x treatment (P = 0.02) interaction. Steer ADG for SSS did not differ between SIL and DIST (P = 0.51), but was greater than the CON (P = 0.01). The ADG for SSS was 0.79 (SEM = 0.04), 0.81 (SEM = 0.05), and 0.62 (SEM = 0.05) kg for DIST, SIL, and CON, respectively. For the FSS, ADG for all 3 treatments was different (P = 0.02). The FSS ADG was 0.72 (SEM = 0.03), 0.53 (SEM = 0.04), and 0.29 (SEM = 0.04) kg for DIST, SIL, and CON, respectively. The only treatment with equivalent (P = 0.07) ADG between early and late-stocked steers (SSS vs. FSS) was DIST. Adjusting the amount of DDGS supplemented to steers based on forage nutritive value resulted in consistent BW gains throughout the grazing study, whereas steers in the SIL and CON treatments gained less BW during the latter portion of the season. Controlling forage maturity by removal in the SIL treatment resulted in total BW gains/ha that were not different than the DIST treatment.

Population regulation in Gyrodactylus salaris - Atlantic salmon (Salmo salar L.) interactions: testing the paradigm.

PubMed

Ramírez, Raúl; Bakke, Tor A; Harris, Philip D

2015-07-25

Gyrodactylus salaris is a directly transmitted ectoparasite that reproduces in situ on its fish host. Wild Norwegian (East Atlantic) salmon stocks are thought to be especially susceptible to the parasite due to lack of co-adaptation, contrary to Baltic salmon stocks. This study i) identifies whether time- and density-dependent mechanisms in gyrodactylid population growth exist in G. salaris-Atlantic salmon interactions and ii) based on differences between Norwegian and Baltic stocks, determines whether the 'Atlantic susceptible, Baltic resistant' paradigm holds as an example of local adaptation. A total of 18 datasets of G. salaris population growth on individually isolated Atlantic salmon (12 different stocks) infected with three parasite strains were re-analysed using a Bayesian approach. Datasets included over 2000 observations of 388 individual fish. The best fitting model of population growth was time-limited; parasite population growth rate declined consistently from the beginning of infection. We found no evidence of exponential population growth in any dataset. In some stocks, a density dependence in the size of the initial inoculum limited the maximum rate of parasite population growth. There is no evidence to support the hypothesis that all Norwegian and Scottish Atlantic salmon stocks are equally susceptible to G. salaris, while Baltic stocks control and limit infections due to co-evolution. Northern and Western Norwegian as well as the Scottish Shin stocks, support higher initial parasite population growth rates than Baltic, South-eastern Norwegian, or the Scottish Conon stocks, and several Norwegian stocks tested (Akerselva, Altaelva, Lierelva, Numedalslågen), and the Scottish stocks (i.e. Conon, Shin), were able to limit infections after 40-50 days. No significant differences in performance of the three parasite strains (Batnfjordselva, Figga, and Lierelva), or the two parasite mitochondrial haplotypes (A and F) were observed. Our study shows a spectrum of growth rates, with some fish of the South-eastern Norwegian stocks sustaining parasite population growth rates overlapping those seen on Baltic Neva and Indalsälv stocks. This observation is inconsistent with the 'Baltic-resistant, Atlantic-susceptible' hypothesis, but suggests heterogeneity, perhaps linked to other host resistance genes driven by selection for local disease syndromes.

Heterogeneous information-based artificial stock market

NASA Astrophysics Data System (ADS)

Pastore, S.; Ponta, L.; Cincotti, S.

2010-05-01

In this paper, an information-based artificial stock market is considered. The market is populated by heterogeneous agents that are seen as nodes of a sparsely connected graph. Agents trade a risky asset in exchange for cash. Besides the amount of cash and assets owned, each agent is characterized by a sentiment. Moreover, agents share their sentiments by means of interactions that are identified by the graph. Interactions are unidirectional and are supplied with heterogeneous weights. The agent's trading decision is based on sentiment and, consequently, the stock price process depends on the propagation of information among the interacting agents, on budget constraints and on market feedback. A central market maker (clearing house mechanism) determines the price process at the intersection of the demand and supply curves. Both closed- and open-market conditions are considered. The results point out the validity of the proposed model of information exchange among agents and are helpful for understanding the role of information in real markets. Under closed market conditions, the interaction among agents' sentiments yields a price process that reproduces the main stylized facts of real markets, e.g. the fat tails of the returns distributions and the clustering of volatility. Within open-market conditions, i.e. with an external cash inflow that results in asset price inflation, also the unitary root stylized fact is reproduced by the artificial stock market. Finally, the effects of model parameters on the properties of the artificial stock market are also addressed.

Comparing field investigations with laboratory models to predict landfill leachate emissions

DOE Office of Scientific and Technical Information (OSTI.GOV)

Fellner, Johann; Doeberl, Gernot; Allgaier, Gerhard

2009-06-15

Investigations into laboratory reactors and landfills are used for simulating and predicting emissions from municipal solid waste landfills. We examined water flow and solute transport through the same waste body for different volumetric scales (laboratory experiment: 0.08 m{sup 3}, landfill: 80,000 m{sup 3}), and assessed the differences in water flow and leachate emissions of chloride, total organic carbon and Kjeldahl nitrogen. The results indicate that, due to preferential pathways, the flow of water in field-scale landfills is less uniform than in laboratory reactors. Based on tracer experiments, it can be discerned that in laboratory-scale experiments around 40% of pore watermore » participates in advective solute transport, whereas this fraction amounts to less than 0.2% in the investigated full-scale landfill. Consequences of the difference in water flow and moisture distribution are: (1) leachate emissions from full-scale landfills decrease faster than predicted by laboratory experiments, and (2) the stock of materials remaining in the landfill body, and thus the long-term emission potential, is likely to be underestimated by laboratory landfill simulations.« less

Can Google Trends search queries contribute to risk diversification?

PubMed

Kristoufek, Ladislav

2013-01-01

Portfolio diversification and active risk management are essential parts of financial analysis which became even more crucial (and questioned) during and after the years of the Global Financial Crisis. We propose a novel approach to portfolio diversification using the information of searched items on Google Trends. The diversification is based on an idea that popularity of a stock measured by search queries is correlated with the stock riskiness. We penalize the popular stocks by assigning them lower portfolio weights and we bring forward the less popular, or peripheral, stocks to decrease the total riskiness of the portfolio. Our results indicate that such strategy dominates both the benchmark index and the uniformly weighted portfolio both in-sample and out-of-sample.

Estimating time-varying conditional correlations between stock and foreign exchange markets

NASA Astrophysics Data System (ADS)

Tastan, Hüseyin

2006-02-01

This study explores the dynamic interaction between stock market returns and changes in nominal exchange rates. Many financial variables are known to exhibit fat tails and autoregressive variance structure. It is well-known that unconditional covariance and correlation coefficients also vary significantly over time and multivariate generalized autoregressive model (MGARCH) is able to capture the time-varying variance-covariance matrix for stock market returns and changes in exchange rates. The model is applied to daily Euro-Dollar exchange rates and two stock market indexes from the US economy: Dow-Jones Industrial Average Index and S&P500 Index. The news impact surfaces are also drawn based on the model estimates to see the effects of idiosyncratic shocks in respective markets.

Network topology analysis approach on China's QFII stock investment behavior

NASA Astrophysics Data System (ADS)

Zhang, Yongjie; Cao, Xing; He, Feng; Zhang, Wei

2017-05-01

In this paper, the investment behavior of QFII in China stock market from 2004 to 2015 is studied with the network topology method. Based on the nodes topological characteristics, stock holding fluctuations correlation is studied from the micro network level. We conclude that the QFII mutual stock holding network have both scale free and small world properties, which presented mainly small world characteristics from 2005 to 2011, and scale free characteristics from 2012 to 2015. Moreover, fluctuations correlation is different with different nodes topological characteristics. In different economic periods, QFII represented different connection patterns and they reacted to the market crash spontaneously. Thus, this paper provides the first evidence of complex network research on QFII' investment behavior in China as an emerging market.

The dynamic correlation between policy uncertainty and stock market returns in China

NASA Astrophysics Data System (ADS)

Yang, Miao; Jiang, Zhi-Qiang

2016-11-01

The dynamic correlation is examined between government's policy uncertainty and Chinese stock market returns in the period from January 1995 to December 2014. We find that the stock market is significantly correlated to policy uncertainty based on the results of the Vector Auto Regression (VAR) and Structural Vector Auto Regression (SVAR) models. In contrast, the results of the Dynamic Conditional Correlation Generalized Multivariate Autoregressive Conditional Heteroscedasticity (DCC-MGARCH) model surprisingly show a low dynamic correlation coefficient between policy uncertainty and market returns, suggesting that the fluctuations of each variable are greatly influenced by their values in the preceding period. Our analysis highlights the understanding of the dynamical relationship between stock market and fiscal and monetary policy.

How High Frequency Trading Affects a Market Index

PubMed Central

Kenett, Dror Y.; Ben-Jacob, Eshel; Stanley, H. Eugene; gur-Gershgoren, Gitit

2013-01-01

The relationship between a market index and its constituent stocks is complicated. While an index is a weighted average of its constituent stocks, when the investigated time scale is one day or longer the index has been found to have a stronger effect on the stocks than vice versa. We explore how this interaction changes in short time scales using high frequency data. Using a correlation-based analysis approach, we find that in short time scales stocks have a stronger influence on the index. These findings have implications for high frequency trading and suggest that the price of an index should be published on shorter time scales, as close as possible to those of the actual transaction time scale. PMID:23817553

Can Google Trends search queries contribute to risk diversification?

PubMed Central

Kristoufek, Ladislav

2013-01-01

Portfolio diversification and active risk management are essential parts of financial analysis which became even more crucial (and questioned) during and after the years of the Global Financial Crisis. We propose a novel approach to portfolio diversification using the information of searched items on Google Trends. The diversification is based on an idea that popularity of a stock measured by search queries is correlated with the stock riskiness. We penalize the popular stocks by assigning them lower portfolio weights and we bring forward the less popular, or peripheral, stocks to decrease the total riskiness of the portfolio. Our results indicate that such strategy dominates both the benchmark index and the uniformly weighted portfolio both in-sample and out-of-sample. PMID:24048448

The ultrasonic-enhanced factor of mass-transfer coefficient in the supercritical carbon dioxide extraction

NASA Astrophysics Data System (ADS)

Luo, Benyi; Lu, Yigang

2008-10-01

Based on several hypotheses about the process of supercritical carbon dioxide extraction, the onflow around the solute granule is figured out by the Navier-Stocks equation. In combination with the Higbie’s solute infiltration model, the link between the mass-transfer coefficient and the velocity of flow is found. The mass-transfer coefficient with the ultrasonical effect is compared with that without the ultrasonical effect, and then a new parameter named the ultrasonic-enhanced factor of mass-transfer coefficient is brought forward, which describes the mathematical model of the supercritical carbon dioxide extraction process enhanced by ultrasonic. The model gives out the relationships among the ultrasonical power, the ultrasonical frequency, the radius of solute granule and the ultrasonic-enhanced factor of mass-transfer coefficient. The results calculated by this model fit well with the experimental data, including the extraction of Coix Lacryma-jobi Seed Oil (CLSO) and Coix Lacryma-jobi Seed Ester (CLSE) from coix seeds and the extraction of Eicosapentaenoic Acid (EPA) and Docosahexaenoic Acid (DHA) from the alga by means of the ultrasonic-enhanced supercritical carbon dioxide extraction (USFE) and the supercritical carbon dioxide extraction (SFE) respectively. This proves the rationality of the ultrasonic-enhanced factor model. The model provides a theoretical basis for the application of ultrasonic-enhanced supercritical fluid extraction technique.

Cross-correlations between West Texas Intermediate crude oil and the stock markets of the BRIC

NASA Astrophysics Data System (ADS)

Ma, Feng; Wei, Yu; Huang, Dengshi; Zhao, Lin

2013-11-01

In this paper, we investigate the cross-correlation properties between West Texas Intermediate crude oil and the stock markets of the BRIC. We use not only the qualitative analysis of the cross-correlation test, but also take the quantitative analysis of the MF-DXA, confirming the cross-correlation relationship between West Texas Intermediate crude oil and the stock markets of the BRIC (Brazil, Russia, India and China) respectively, which have strongly multifractal features, and the cross-correlations are more strongly multifractal in the short term than in the long term. Furthermore, based on the multifractal spectrum, we also find the multifractality strength between the crude oil WTI and Chinese stock market is stronger than the multifractality strength of other pairs. Based on the Iraq war (Mar 20, 2003) and the Financial crisis in 2008, we divide sample period into four segments to research the degree of the multifractal (ΔH) and the market efficiency (and the risk). Finally, we employ the technique of the rolling window to calculate the time-varying EI (efficiency index) and dependent on the EI, we can easily observe the change of stock markets. Furthermore, we explore the relationship between bivariate cross-correlation exponents (Hxy(q)) and the generalized Hurst exponents.

Mamdani-Fuzzy Modeling Approach for Quality Prediction of Non-Linear Laser Lathing Process

NASA Astrophysics Data System (ADS)

Sivaraos; Khalim, A. Z.; Salleh, M. S.; Sivakumar, D.; Kadirgama, K.

2018-03-01

Lathing is a process to fashioning stock materials into desired cylindrical shapes which usually performed by traditional lathe machine. But, the recent rapid advancements in engineering materials and precision demand gives a great challenge to the traditional method. The main drawback of conventional lathe is its mechanical contact which brings to the undesirable tool wear, heat affected zone, finishing, and dimensional accuracy especially taper quality in machining of stock with high length to diameter ratio. Therefore, a novel approach has been devised to investigate in transforming a 2D flatbed CO2 laser cutting machine into 3D laser lathing capability as an alternative solution. Three significant design parameters were selected for this experiment, namely cutting speed, spinning speed, and depth of cut. Total of 24 experiments were performed with eight (8) sequential runs where they were then replicated three (3) times. The experimental results were then used to establish Mamdani - Fuzzy predictive model where it yields the accuracy of more than 95%. Thus, the proposed Mamdani - Fuzzy modelling approach is found very much suitable and practical for quality prediction of non-linear laser lathing process for cylindrical stocks of 10mm diameter.

Managing carbon sinks in rubber (Hevea brasilensis) plantation by changing rotation length in SW China.

PubMed

Nizami, Syed Moazzam; Yiping, Zhang; Liqing, Sha; Zhao, Wei; Zhang, Xiang

2014-01-01

Extension of the rotation length in forest management has been highlighted in Article 3.4 of the Kyoto Protocol to help the countries in their commitments for reduction in greenhouse gas emissions. CO2FIX Model Ver.3.2 was used to examine the dynamics of carbon stocks (C stocks) in a rubber plantation in South Western China with the changing rotation lengths. To estimate the efficiency of increasing the rotation length as an Article 3.4 activity, study predicted that the rubber production and C stocks of the ecosystem increased with the increasing rotation (25, 30, 35, 40 and 45 years). While comparing the pace of growth both in economical (rubber production) and ecological (C stocks) terms in each rotation, 40 years rotation length showed maximum production and C stocks. After elongation of 40 year rotation to four consecutive cycles, it was concluded that the total C stocks of the ecosystem were 186.65 Mg ha(-1). The longer rotation lengths showed comparatively increased C stocks in below ground C stock after consecutive four rotations. The pace of C input (Mg C ha(-1) yr(-1)) and rubber production indicated that 40 years rotation is best suited for rubber plantation. The study has developed carbon mitigation based on four rotation scenarios. The possible stimulated increase in C stocks of the entire ecosystem after consecutive long rotations indicated that the emphasis must be paid on deciding the rotation of rubber plantation in SW China for reporting under article 3.4 of the Kyoto Protocol.

Managing Carbon Sinks in Rubber (Hevea brasilensis) Plantation by Changing Rotation length in SW China

PubMed Central

Nizami, Syed Moazzam; Yiping, Zhang; Liqing, Sha; Zhao, Wei; Zhang, Xiang

2014-01-01

Extension of the rotation length in forest management has been highlighted in Article 3.4 of the Kyoto Protocol to help the countries in their commitments for reduction in greenhouse gas emissions. CO2FIX Model Ver.3.2 was used to examine the dynamics of carbon stocks (C stocks) in a rubber plantation in South Western China with the changing rotation lengths. To estimate the efficiency of increasing the rotation length as an Article 3.4 activity, study predicted that the rubber production and C stocks of the ecosystem increased with the increasing rotation (25, 30, 35, 40 and 45 years). While comparing the pace of growth both in economical (rubber production) and ecological (C stocks) terms in each rotation, 40 years rotation length showed maximum production and C stocks. After elongation of 40 year rotation to four consecutive cycles, it was concluded that the total C stocks of the ecosystem were 186.65 Mg ha-1. The longer rotation lengths showed comparatively increased C stocks in below ground C stock after consecutive four rotations. The pace of C input (Mg C ha-1yr-1) and rubber production indicated that 40years rotation is best suited for rubber plantation. The study has developed carbon mitigation based on four rotation scenarios. The possible stimulated increase in C stocks of the entire ecosystem after consecutive long rotations indicated that the emphasis must be paid on deciding the rotation of rubber plantation in SW China for reporting under article 3.4 of the Kyoto Protocol. PMID:25536041

Stock-specific advection of larval walleye (Sander vitreus) in western Lake Erie: Implications for larval growth, mixing, and stock discrimination

USGS Publications Warehouse

Fraker, Michael E.; Anderson, Eric J.; May, Cassandra J.; Chen, Kuan-Yu; Davis, Jeremiah J.; DeVanna, Kristen M.; DuFour, Mark R.; Marschall, Elizabeth A.; Mayer, Christine M.; Miner, Jeffery G.; Pangle, Kevin L.; Pritt, Jeremy J.; Roseman, Edward F.; Tyson, Jeffrey T.; Zhao, Yingming; Ludsin, Stuart A

2015-01-01

Physical processes can generate spatiotemporal heterogeneity in habitat quality for fish and also influence the overlap of pre-recruit individuals (e.g., larvae) with high-quality habitat through hydrodynamic advection. In turn, individuals from different stocks that are produced in different spawning locations or at different times may experience dissimilar habitat conditions, which can underlie within- and among-stock variability in larval growth and survival. While such physically-mediated variation has been shown to be important in driving intra- and inter-annual patterns in recruitment in marine ecosystems, its role in governing larval advection, growth, survival, and recruitment has received less attention in large lake ecosystems such as the Laurentian Great Lakes. Herein, we used a hydrodynamic model linked to a larval walleye (Sander vitreus) individual-based model to explore how the timing and location of larval walleye emergence from several spawning sites in western Lake Erie (Maumee, Sandusky, and Detroit rivers; Ohio reef complex) can influence advection pathways and mixing among these local spawning populations (stocks), and how spatiotemporal variation in thermal habitat can influence stock-specific larval growth. While basin-wide advection patterns were fairly similar during 2011 and 2012, smaller scale advection patterns and the degree of stock mixing varied both within and between years. Additionally, differences in larval growth were evident among stocks and among cohorts within stocks which were attributed to spatiotemporal differences in water temperature. Using these findings, we discuss the value of linked physical–biological models for understanding the recruitment process and addressing fisheries management problems in the world's Great Lakes.

Are Compression Stockings an Effective Treatment for Orthostatic Presyncope?

PubMed Central

Protheroe, Clare Louise; Dikareva, Anastasia; Menon, Carlo; Claydon, Victoria Elizabeth

2011-01-01

Background Syncope, or fainting, affects approximately 6.2% of the population, and is associated with significant comorbidity. Many syncopal events occur secondary to excessive venous pooling and capillary filtration in the lower limbs when upright. As such, a common approach to the management of syncope is the use of compression stockings. However, research confirming their efficacy is lacking. We aimed to investigate the effect of graded calf compression stockings on orthostatic tolerance. Methodology/Principal Findings We evaluated orthostatic tolerance (OT) and haemodynamic control in 15 healthy volunteers wearing graded calf compression stockings compared to two placebo stockings in a randomized, cross-over, double-blind fashion. OT (time to presyncope, min) was determined using combined head-upright tilting and lower body negative pressure applied until presyncope. Throughout testing we continuously monitored beat-to-beat blood pressures, heart rate, stroke volume and cardiac output (finger plethysmography), cerebral and forearm blood flow velocities (Doppler ultrasound) and breath-by-breath end tidal gases. There were no significant differences in OT between compression stocking (26.0±2.3 min) and calf (29.3±2.4 min) or ankle (27.6±3.1 min) placebo conditions. Cardiovascular, cerebral and respiratory responses were similar in all conditions. The efficacy of compression stockings was related to anthropometric parameters, and could be predicted by a model based on the subject's calf circumference and shoe size (r = 0.780, p = 0.004). Conclusions/Significance These data question the use of calf compression stockings for orthostatic intolerance and highlight the need for individualised therapy accounting for anthropometric variables when considering treatment with compression stockings. PMID:22194814

48 CFR 31.205-6 - Compensation for personal services.

Code of Federal Regulations, 2011 CFR

2011-10-01

...) Corporate securities, such as stocks, bonds, and other financial instruments (see paragraph (d)(2) of this... on changes in the prices of corporate securities or corporate security ownership, such as stock... compensation which is calculated, or valued, based on changes in the price of corporate securities is...

48 CFR 31.205-6 - Compensation for personal services.

Code of Federal Regulations, 2012 CFR

2012-10-01

...) Corporate securities, such as stocks, bonds, and other financial instruments (see paragraph (d)(2) of this... on changes in the prices of corporate securities or corporate security ownership, such as stock... compensation which is calculated, or valued, based on changes in the price of corporate securities is...

Overstory removal: stand factors related to success and failure

Treesearch

Robert J. Laacke; Gary O. Fiddler

1986-01-01

Overstory removal can offer economic and esthetic advantages over clearcutting and regeneration, but projecting success is difficult. Twenty-nine units on nine operational overstory removal cuts in northern California were studied to determine what factors are related to satisfactory or unsatisfactory stocking after harvest. Stocking determinations were based on number...

Market Correlation Structure Changes Around the Great Crash: A Random Matrix Theory Analysis of the Chinese Stock Market

NASA Astrophysics Data System (ADS)

Han, Rui-Qi; Xie, Wen-Jie; Xiong, Xiong; Zhang, Wei; Zhou, Wei-Xing

The correlation structure of a stock market contains important financial contents, which may change remarkably due to the occurrence of financial crisis. We perform a comparative analysis of the Chinese stock market around the occurrence of the 2008 crisis based on the random matrix analysis of high-frequency stock returns of 1228 Chinese stocks. Both raw correlation matrix and partial correlation matrix with respect to the market index in two time periods of one year are investigated. We find that the Chinese stocks have stronger average correlation and partial correlation in 2008 than in 2007 and the average partial correlation is significantly weaker than the average correlation in each period. Accordingly, the largest eigenvalue of the correlation matrix is remarkably greater than that of the partial correlation matrix in each period. Moreover, each largest eigenvalue and its eigenvector reflect an evident market effect, while other deviating eigenvalues do not. We find no evidence that deviating eigenvalues contain industrial sectorial information. Surprisingly, the eigenvectors of the second largest eigenvalues in 2007 and of the third largest eigenvalues in 2008 are able to distinguish the stocks from the two exchanges. We also find that the component magnitudes of the some largest eigenvectors are proportional to the stocks’ capitalizations.

Impact of New DoD Directives on Marine Corps Acquisition Policy at Milestone IV

DTIC Science & Technology

1991-03-01

Logistics Services Center (DLSC) files are compatible on the Effective Transfer Data Base. The Hardware Systems Command ( HSC ) develops a uniform stock...financial evaluation. Based on established review dates, the HSC publishes the location and time of the stock transfer review meeting. Forty-five days...letter to NAVSUP. The HSC also maintains adequate documentation to justify material that they retain and ensures that items designated for retention at the

A viability analysis for a stock/price model

NASA Astrophysics Data System (ADS)

Jerry, Chakib; Raissi, Nadia

2012-09-01

We examine the conditions for the sustainability of a stock/price system based on the use of a marine renewable resource. Instead of studying the environmental and economic interactions in terms of optimal control, we focus on the viability of the system. These viability/crisis situations are defined by a set of economic state constraints. This constraints combine a guaranteed consumption and a minimum income for fishermen. Using the mathematical concept of viability kernel, we reveal that with only economics constraints we guarantee a perennial stock/price system.

A Comparison of Six Repair Scheduling Policies for the P3 Aircraft.

DTIC Science & Technology

1988-03-01

each type component i: RHO(i) = LAMBDA(i) / SRATE(i) LINEUPti) - RHO(i) x COUNT(i) Step 14c: Sort components by LINEUP (i), reorder position in line in...favor of the largest LINEUP (i). Return to step 7. Dynamic 3 Model Modifications: Step 14a: Count the number of operating parts of each component i...STOCK(i)). Step 14b: Assign a priority to each component type based on the count of current stock in step 14a: LINEUP (i) < LINEUP (J) iff STOCK(i

The promise of macromolecular crystallization in microfluidic chips

NASA Technical Reports Server (NTRS)

van der Woerd, Mark; Ferree, Darren; Pusey, Marc

2003-01-01

Microfluidics, or lab-on-a-chip technology, is proving to be a powerful, rapid, and efficient approach to a wide variety of bioanalytical and microscale biopreparative needs. The low materials consumption, combined with the potential for packing a large number of experiments in a few cubic centimeters, makes it an attractive technique for both initial screening and subsequent optimization of macromolecular crystallization conditions. Screening operations, which require a macromolecule solution with a standard set of premixed solutions, are relatively straightforward and have been successfully demonstrated in a microfluidics platform. Optimization methods, in which crystallization solutions are independently formulated from a range of stock solutions, are considerably more complex and have yet to be demonstrated. To be competitive with either approach, a microfluidics system must offer ease of operation, be able to maintain a sealed environment over several weeks to months, and give ready access for the observation and harvesting of crystals as they are grown.

Present status and approaches for the sustainable development of community based fish culture in seasonal floodplains of Bangladesh.

PubMed

Rahman, M F; Jalal, K C A; Jahan, Nasrin; Kamaruzzaman, B Y; Ara, R; Arshad, A

2012-06-15

Coordination among the different stakeholders at policy planning, implementation and target beneficiary level, particularly among the agencies responsible for development and management of water resources, agriculture and fisheries, is essential for overall sustainable development. Stocking of larger fingerlings at suitable stocking densities of endemic (rohu, catla, mrigal) and exotic (silver carp, bighead carp, common carp/mirror carp) species should be stocked at varying proportion. Floodplain fish production depends only on the natural fertility of the water bodies. Technological interventions should include the installation of low cost bamboo fencing at water inlet and outlet points and setting of ring culverts for maintaining suitable levels of water for fish culture without hampering the production of rice and other crops in the intervention areas, selective stocking with native and exotic carps, restricted fishing for certain period of time and guarding. It is expected to exert positive influences in enhancing the standing crop and biodiversity of non-stocked species of fishes in the intervention seasonal floodplain. Entry of fish larvae, hatchlings and young fry of wild non-stocked fishes into the seasonal floodplains because of large fence spacing (approximately 1.0 cm), could restrict fishing for certain period, undisturbed habitat and guarding could contribute to higher productivity and enhancement of fish biodiversity in the seasonal floodplains. Proper motivation and effective cooperation of the beneficiaries are extremely important to culture fish in the seasonal floodplains under community based management system. Institutional support and constant vigilance from the Department of Fisheries (DoF) and local administrations are indispensable to ensure the sustainability of fish culture initiatives in the seasonal floodplains. Active participation and involvement of the local community people in all stages of fish culture operation beginning from selection of floodplains, formation of floodplain management committee, planning of fish culture activities, exercise of technical intervention, selective stocking with large fingerlings, guarding, monitoring and supervision, adopting harvesting strategies, marketing and distribution of benefits are extremely essential to ensure sustainability of the program. Mutual trust, sense of respect and good working relationship among the committee members are the basic social elements required for the success of community based fish culture initiatives.

Heat-energy storage through semi-opened circulation into low-permeability hard-rock aquifers

NASA Astrophysics Data System (ADS)

Pettenati, Marie; Bour, Olivier; Ausseur, Jean-Yves; de Dreuzy, Jean-Raynald; de la Bernardie, Jérôme; Chatton, Eliot; Lesueur, Hervé; Bethencourt, Lorine; Mougin, Bruno; Aquilina, Luc; Koch, Florian; Dewandel, Benoit; Boisson, Alexandre; Mosser, Jean-François; Pauwels, Hélène

2016-04-01

In low-permeability environments, the solutions of heat storage are still limited to the capacities of geothermal borehole heat exchangers. The ANR Stock-en-Socle project explores the possibilities of periodic storage of sensitive heat1 in low-permeability environments that would offer much better performance than that of borehole heat exchangers, especially in terms of unit capacity. This project examines the storage possibilities of using semi-open water circulation in typically a Standing Column Well (SCW), using the strong heterogeneity of hard-rock aquifers in targeting the least favorable areas for water resources. To solve the main scientific issues, which include evaluating the minimum level of permeability required around a well as well as its evolution through time (increase and decrease) due to water-rock interaction processes, the study is based on an experimental program of fieldwork and modelling for studying the thermal, hydraulic and geochemical processes involved. This includes tracer and water-circulation tests by injecting hot water in different wells located in distinct hard-rock settings (i.e. granite and schist) in Brittany, Ploemeur (H+ observatory network) and Naizin. A numerical modelling approach allows studying the effects of permeability structures on the storage and heat-recovery capacities, whereas the modelling of reactive transfers will provide an understanding of how permeability evolves under the influence of dissolution and precipitation. Based on the obtained results, technical solutions will be studied for constructing a well of the SCW type in a low-permeability environment. This work will be completed by a technical and economic feasibility study leading to an investment and operations model. This study aims to describe the suitability of SCW storage for shallow geothermal energy. In order to reach these objectives, Stock-en-Socle is constructed around a public/private partnership between two public research organizations, Géosciences Rennes and BRGM, and two companies, Antea Group and Soletanche Bachy, experts in groundwater and geothermal energy. 1Sensitive heat: modifies the temperature of water and its surrounding solids without modification of physical properties, as opposed to latent heat that causes a phase change, such as vaporization.

SMS for Life: a pilot project to improve anti-malarial drug supply management in rural Tanzania using standard technology

PubMed Central

2010-01-01

Background Maintaining adequate supplies of anti-malarial medicines at the health facility level in rural sub-Saharan Africa is a major barrier to effective management of the disease. Lack of visibility of anti-malarial stock levels at the health facility level is an important contributor to this problem. Methods A 21-week pilot study, 'SMS for Life', was undertaken during 2009-2010 in three districts of rural Tanzania, involving 129 health facilities. Undertaken through a collaborative partnership of public and private institutions, SMS for Life used mobile telephones, SMS messages and electronic mapping technology to facilitate provision of comprehensive and accurate stock counts from all health facilities to each district management team on a weekly basis. The system covered stocks of the four different dosage packs of artemether-lumefantrine (AL) and quinine injectable. Results Stock count data was provided in 95% of cases, on average. A high response rate (≥ 93%) was maintained throughout the pilot. The error rate for composition of SMS responses averaged 7.5% throughout the study; almost all errors were corrected and messages re-sent. Data accuracy, based on surveillance visits to health facilities, was 94%. District stock reports were accessed on average once a day. The proportion of health facilities with no stock of one or more anti-malarial medicine (i.e. any of the four dosages of AL or quinine injectable) fell from 78% at week 1 to 26% at week 21. In Lindi Rural district, stock-outs were eliminated by week 8 with virtually no stock-outs thereafter. During the study, AL stocks increased by 64% and quinine stock increased 36% across the three districts. Conclusions The SMS for Life pilot provided visibility of anti-malarial stock levels to support more efficient stock management using simple and widely available SMS technology, via a public-private partnership model that worked highly effectively. The SMS for Life system has the potential to alleviate restricted availability of anti-malarial drugs or other medicines in rural or under-resourced areas. PMID:20979633

SMS for Life: a pilot project to improve anti-malarial drug supply management in rural Tanzania using standard technology.

PubMed

Barrington, Jim; Wereko-Brobby, Olympia; Ward, Peter; Mwafongo, Winfred; Kungulwe, Seif

2010-10-27

Maintaining adequate supplies of anti-malarial medicines at the health facility level in rural sub-Saharan Africa is a major barrier to effective management of the disease. Lack of visibility of anti-malarial stock levels at the health facility level is an important contributor to this problem. A 21-week pilot study, 'SMS for Life', was undertaken during 2009-2010 in three districts of rural Tanzania, involving 129 health facilities. Undertaken through a collaborative partnership of public and private institutions, SMS for Life used mobile telephones, SMS messages and electronic mapping technology to facilitate provision of comprehensive and accurate stock counts from all health facilities to each district management team on a weekly basis. The system covered stocks of the four different dosage packs of artemether-lumefantrine (AL) and quinine injectable. Stock count data was provided in 95% of cases, on average. A high response rate (≥ 93%) was maintained throughout the pilot. The error rate for composition of SMS responses averaged 7.5% throughout the study; almost all errors were corrected and messages re-sent. Data accuracy, based on surveillance visits to health facilities, was 94%. District stock reports were accessed on average once a day. The proportion of health facilities with no stock of one or more anti-malarial medicine (i.e. any of the four dosages of AL or quinine injectable) fell from 78% at week 1 to 26% at week 21. In Lindi Rural district, stock-outs were eliminated by week 8 with virtually no stock-outs thereafter. During the study, AL stocks increased by 64% and quinine stock increased 36% across the three districts. The SMS for Life pilot provided visibility of anti-malarial stock levels to support more efficient stock management using simple and widely available SMS technology, via a public-private partnership model that worked highly effectively. The SMS for Life system has the potential to alleviate restricted availability of anti-malarial drugs or other medicines in rural or under-resourced areas.

White noise effects of U.S. crude oil spot prices on stock prices of a publicly traded company: A case study cross-correlation analysis based on green energy management theory

NASA Astrophysics Data System (ADS)

Roberts, Peter M.

The purpose of this study was to examine white noise effects of U.S. crude oil spot prices on the stock prices of a green energy company. Epistemological, Phenomenological, Axiological and Ontological assumptions of Green Energy Management (GEM) Theory were utilized for selecting Air Products and Chemicals Inc. (APD) as the case study. Exxon Mobil (XOM) was used as a control for triangulation purposes. The period of time examined was between January of 1999 and December of 2008. Monthly stock prices for APD and XOM for the ten year period of time were collected from the New York Stock Exchange. Monthly U.S. crude oil spot prices for the ten year period of time were collected from the US Energy Information Administration. The data was entered into SPSS 17.0 software in order to conduct cross-correlation analysis. The six cross-correlation assumptions were satisfied in order to conduct a Cross-correlation Mirror Test (CCMT). The CCMT established the lag time direction and verified that U.S. crude oil spot prices serve as white noise for stock prices of APD and XOM. The Theory of Relative Weakness was employed in order to analyze the results. A 2 year period of time between December, 2006 and December, 2008 was examined. The correlation coefficient r = - .155 indicates that U.S. crude oil spot prices lead APD stock prices by 4 months. During the same 2 year period of time, U.S. crude oil spot prices lead XOM stock prices by 4 months at r = -.283. XOM stock prices and APD stock prices were positively correlated with 0 lag in time with a positive r = .566. The 4 month cycle was an exact match between APD stock prices, XOM stock prices and U.S. crude oil spot prices. The 4 month cycle was due to the random price fluctuation of U.S. crude oil spot prices that obscured the true stock prices of APD and XOM for the 2 year period of time.

Historic Emissions from Deforestation and Forest Degradation in Mato Grosso, Brazil: 1. Source Data Uncertainties

NASA Technical Reports Server (NTRS)

Morton, Douglas C.; Sales, Marcio H.; Souza, Carlos M., Jr.; Griscom, Bronson

2011-01-01

Historic carbon emissions are an important foundation for proposed efforts to Reduce Emissions from Deforestation and forest Degradation and enhance forest carbon stocks through conservation and sustainable forest management (REDD+). The level of uncertainty in historic carbon emissions estimates is also critical for REDD+, since high uncertainties could limit climate benefits from mitigation actions. Here, we analyzed source data uncertainties based on the range of available deforestation, forest degradation, and forest carbon stock estimates for the Brazilian state of Mato Grosso during 1990-2008. Results: Deforestation estimates showed good agreement for multi-year trends of increasing and decreasing deforestation during the study period. However, annual deforestation rates differed by >20% in more than half of the years between 1997-2008, even for products based on similar input data. Tier 2 estimates of average forest carbon stocks varied between 99-192 Mg C/ha, with greatest differences in northwest Mato Grosso. Carbon stocks in deforested areas increased over the study period, yet this increasing trend in deforested biomass was smaller than the difference among carbon stock datasets for these areas. Conclusions: Patterns of spatial and temporal disagreement among available data products provide a roadmap for future efforts to reduce source data uncertainties for estimates of historic forest carbon emissions. Specifically, regions with large discrepancies in available estimates of both deforestation and forest carbon stocks are priority areas for evaluating and improving existing estimates. Full carbon accounting for REDD+ will also require filling data gaps, including forest degradation and secondary forest, with annual data on all forest transitions.

Study on Market Stability and Price Limit of Chinese Stock Index Futures Market: An Agent-Based Modeling Perspective.

PubMed

Xiong, Xiong; Nan, Ding; Yang, Yang; Yongjie, Zhang

2015-01-01

This paper explores a method of managing the risk of the stock index futures market and the cross-market through analyzing the effectiveness of price limits on the Chinese Stock Index 300 futures market. We adopt a cross-market artificial financial market (include the stock market and the stock index futures market) as a platform on which to simulate the operation of the CSI 300 futures market by changing the settings of price limits. After comparing the market stability under different price limits by appropriate liquidity and volatility indicators, we find that enhancing price limits or removing price limits both play a negative impact on market stability. In contrast, a positive impact exists on market stability if the existing price limit is maintained (increase of limit by10%, down by 10%) or it is broadened to a proper extent. Our study provides reasonable advice for a price limit setting and risk management for CSI 300 futures.

Spatial optimization of carbon-stocking projects across Africa integrating stocking potential with co-benefits and feasibility.

PubMed

Greve, Michelle; Reyers, Belinda; Mette Lykke, Anne; Svenning, Jens-Christian

2013-01-01

Carbon offset projects through forestation are employed within the emissions trading framework to store carbon. Yet, information about the potential of landscapes to stock carbon, essential to the design of offset projects, is often lacking. Here, based on data on vegetation carbon, climate and soil, we quantify the potential for carbon storage in woody vegetation across tropical Africa. The ability of offset projects to produce co-benefits for ecosystems and people is then quantified. When co-benefits such as biodiversity conservation are considered, the top-ranked sites are sometimes different to sites selected purely for their carbon-stocking potential, although they still possess up to 92% of the latter carbon-stocking potential. This work provides the first continental-scale assessment of which areas may provide the greatest direct and indirect benefits from carbon storage reforestation projects at the smallest costs and risks, providing crucial information for prioritization of investments in carbon storage projects.

A self-similar hierarchy of the Korean stock market

NASA Astrophysics Data System (ADS)

Lim, Gyuchang; Min, Seungsik; Yoo, Kun-Woo

2013-01-01

A scaling analysis is performed on market values of stocks listed on Korean stock exchanges such as the KOSPI and the KOSDAQ. Different from previous studies on price fluctuations, market capitalizations are dealt with in this work. First, we show that the sum of the two stock exchanges shows a clear rank-size distribution, i.e., the Zipf's law, just as each separate one does. Second, by abstracting Zipf's law as a γ-sequence, we define a self-similar hierarchy consisting of many levels, with the numbers of firms at each level forming a geometric sequence. We also use two exponential functions to describe the hierarchy and derive a scaling law from them. Lastly, we propose a self-similar hierarchical process and perform an empirical analysis on our data set. Based on our findings, we argue that all money invested in the stock market is distributed in a hierarchical way and that a slight difference exists between the two exchanges.

[Development and validation of a questionnaire about the main variables affecting the individual investor's behavior in the Stock Exchange].

PubMed

Pascual-Ezama, David; San Martín Castellanos, Rafael; Gil-Gómez de Liaño, Beatriz; Scandroglio, Bárbara

2010-11-01

Development and validation of a questionnaire about the main variables affecting the individual investor's behavior in the Stock Exchange. There is a considerable lack of information about the methodology usually used in most of the studies about individual investor's behavior. The studies reviewed do not show the method used in the selection of the items or the psychometric properties of the questionnaires. Because of the importance of investment in the Stock Exchange nowadays, it seems relevant to obtain a reliable instrument to understand individual investor's behavior in the Stock Exchange. Therefore, the goal of the present work is to validate a questionnaire about the main variables involved in individual investors' behavior in the Stock Exchange. Based on previous studies, we elaborated a questionnaire using the Delphi methodology with a group of experts. The internal consistency (Cronbach alpha=.934) and validity evidence of the questionnaire show that it may be an effective instrument and can be applied with some assurance.

Fractal profit landscape of the stock market.

PubMed

Grönlund, Andreas; Yi, Il Gu; Kim, Beom Jun

2012-01-01

We investigate the structure of the profit landscape obtained from the most basic, fluctuation based, trading strategy applied for the daily stock price data. The strategy is parameterized by only two variables, p and q Stocks are sold and bought if the log return is bigger than p and less than -q, respectively. Repetition of this simple strategy for a long time gives the profit defined in the underlying two-dimensional parameter space of p and q. It is revealed that the local maxima in the profit landscape are spread in the form of a fractal structure. The fractal structure implies that successful strategies are not localized to any region of the profit landscape and are neither spaced evenly throughout the profit landscape, which makes the optimization notoriously hard and hypersensitive for partial or limited information. The concrete implication of this property is demonstrated by showing that optimization of one stock for future values or other stocks renders worse profit than a strategy that ignores fluctuations, i.e., a long-term buy-and-hold strategy.

High-frequency stock linkage and multi-dimensional stationary processes

NASA Astrophysics Data System (ADS)

Wang, Xi; Bao, Si; Chen, Jingchao

2017-02-01

In recent years, China's stock market has experienced dramatic fluctuations; in particular, in the second half of 2014 and 2015, the market rose sharply and fell quickly. Many classical financial phenomena, such as stock plate linkage, appeared repeatedly during this period. In general, these phenomena have usually been studied using daily-level data or minute-level data. Our paper focuses on the linkage phenomenon in Chinese stock 5-second-level data during this extremely volatile period. The method used to select the linkage points and the arbitrage strategy are both based on multi-dimensional stationary processes. A new program method for testing the multi-dimensional stationary process is proposed in our paper, and the detailed program is presented in the paper's appendix. Because of the existence of the stationary process, the strategy's logarithmic cumulative average return will converge under the condition of the strong ergodic theorem, and this ensures the effectiveness of the stocks' linkage points and the more stable statistical arbitrage strategy.

Study on Market Stability and Price Limit of Chinese Stock Index Futures Market: An Agent-Based Modeling Perspective

PubMed Central

2015-01-01

This paper explores a method of managing the risk of the stock index futures market and the cross-market through analyzing the effectiveness of price limits on the Chinese Stock Index 300 futures market. We adopt a cross-market artificial financial market (include the stock market and the stock index futures market) as a platform on which to simulate the operation of the CSI 300 futures market by changing the settings of price limits. After comparing the market stability under different price limits by appropriate liquidity and volatility indicators, we find that enhancing price limits or removing price limits both play a negative impact on market stability. In contrast, a positive impact exists on market stability if the existing price limit is maintained (increase of limit by10%, down by 10%) or it is broadened to a proper extent. Our study provides reasonable advice for a price limit setting and risk management for CSI 300 futures. PMID:26571135

Are Price Limits Effective? An Examination of an Artificial Stock Market.

PubMed

Zhang, Xiaotao; Ping, Jing; Zhu, Tao; Li, Yuelei; Xiong, Xiong

2016-01-01

We investigated the inter-day effects of price limits policies that are employed in agent-based simulations. To isolate the impact of price limits from the impact of other factors, we built an artificial stock market with higher frequency price limits hitting. The trading mechanisms in this market are the same as the trading mechanisms in China's stock market. Then, we designed a series of simulations with and without price limits policy. The results of these simulations demonstrate that both upper and lower price limits can cause a volatility spillover effect and a trading interference effect. The process of price discovery will be delayed if upper price limits are imposed on a stock market; however, this phenomenon does not occur when lower price limits are imposed.

Degradation in carbon stocks near tropical forest edges.

PubMed

Chaplin-Kramer, Rebecca; Ramler, Ivan; Sharp, Richard; Haddad, Nick M; Gerber, James S; West, Paul C; Mandle, Lisa; Engstrom, Peder; Baccini, Alessandro; Sim, Sarah; Mueller, Carina; King, Henry

2015-12-18

Carbon stock estimates based on land cover type are critical for informing climate change assessment and landscape management, but field and theoretical evidence indicates that forest fragmentation reduces the amount of carbon stored at forest edges. Here, using remotely sensed pantropical biomass and land cover data sets, we estimate that biomass within the first 500 m of the forest edge is on average 25% lower than in forest interiors and that reductions of 10% extend to 1.5 km from the forest edge. These findings suggest that IPCC Tier 1 methods overestimate carbon stocks in tropical forests by nearly 10%. Proper accounting for degradation at forest edges will inform better landscape and forest management and policies, as well as the assessment of carbon stocks at landscape and national levels.

Are Price Limits Effective? An Examination of an Artificial Stock Market

PubMed Central

Zhu, Tao; Li, Yuelei; Xiong, Xiong

2016-01-01

We investigated the inter-day effects of price limits policies that are employed in agent-based simulations. To isolate the impact of price limits from the impact of other factors, we built an artificial stock market with higher frequency price limits hitting. The trading mechanisms in this market are the same as the trading mechanisms in China’s stock market. Then, we designed a series of simulations with and without price limits policy. The results of these simulations demonstrate that both upper and lower price limits can cause a volatility spillover effect and a trading interference effect. The process of price discovery will be delayed if upper price limits are imposed on a stock market; however, this phenomenon does not occur when lower price limits are imposed. PMID:27513330

Degradation in carbon stocks near tropical forest edges

PubMed Central

Chaplin-Kramer, Rebecca; Ramler, Ivan; Sharp, Richard; Haddad, Nick M.; Gerber, James S.; West, Paul C.; Mandle, Lisa; Engstrom, Peder; Baccini, Alessandro; Sim, Sarah; Mueller, Carina; King, Henry

2015-01-01

Carbon stock estimates based on land cover type are critical for informing climate change assessment and landscape management, but field and theoretical evidence indicates that forest fragmentation reduces the amount of carbon stored at forest edges. Here, using remotely sensed pantropical biomass and land cover data sets, we estimate that biomass within the first 500 m of the forest edge is on average 25% lower than in forest interiors and that reductions of 10% extend to 1.5 km from the forest edge. These findings suggest that IPCC Tier 1 methods overestimate carbon stocks in tropical forests by nearly 10%. Proper accounting for degradation at forest edges will inform better landscape and forest management and policies, as well as the assessment of carbon stocks at landscape and national levels. PMID:26679749

75 FR 39319 - Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-07-08

... US (``NYSE Alternext,'' formerly the American Stock Exchange); and (C) the NASDAQ Stock Market... fees charged by other market centers. (iii) Routing Charges The Exchange proposes to charge the routing... administrative costs. Destination-specific fees are also based, in part, on fees charged by other market centers...

Indebtedness to Finance Postsecondary Education.

ERIC Educational Resources Information Center

Wabnick, Richard; Goggin, William

The financial aspects of college loan burden are analyzed, based on the view that loan burden is a function of a borrower's capacity to repay the debt obligation. The following components of a financial model of indebtness are addressed: the stock of education loans at the time repayment begins, the repayment flow associated with each stock of…

The high order dispersion analysis based on first-passage-time probability in financial markets

NASA Astrophysics Data System (ADS)

Liu, Chenggong; Shang, Pengjian; Feng, Guochen

2017-04-01

The study of first-passage-time (FPT) event about financial time series has gained broad research recently, which can provide reference for risk management and investment. In this paper, a new measurement-high order dispersion (HOD)-is developed based on FPT probability to explore financial time series. The tick-by-tick data of three Chinese stock markets and three American stock markets are investigated. We classify the financial markets successfully through analyzing the scaling properties of FPT probabilities of six stock markets and employing HOD method to compare the differences of FPT decay curves. It can be concluded that long-range correlation, fat-tailed broad probability density function and its coupling with nonlinearity mainly lead to the multifractality of financial time series by applying HOD method. Furthermore, we take the fluctuation function of multifractal detrended fluctuation analysis (MF-DFA) to distinguish markets and get consistent results with HOD method, whereas the HOD method is capable of fractionizing the stock markets effectively in the same region. We convince that such explorations are relevant for a better understanding of the financial market mechanisms.

Intelligent Ensemble Forecasting System of Stock Market Fluctuations Based on Symetric and Asymetric Wavelet Functions

NASA Astrophysics Data System (ADS)

Lahmiri, Salim; Boukadoum, Mounir

2015-08-01

We present a new ensemble system for stock market returns prediction where continuous wavelet transform (CWT) is used to analyze return series and backpropagation neural networks (BPNNs) for processing CWT-based coefficients, determining the optimal ensemble weights, and providing final forecasts. Particle swarm optimization (PSO) is used for finding optimal weights and biases for each BPNN. To capture symmetry/asymmetry in the underlying data, three wavelet functions with different shapes are adopted. The proposed ensemble system was tested on three Asian stock markets: The Hang Seng, KOSPI, and Taiwan stock market data. Three statistical metrics were used to evaluate the forecasting accuracy; including, mean of absolute errors (MAE), root mean of squared errors (RMSE), and mean of absolute deviations (MADs). Experimental results showed that our proposed ensemble system outperformed the individual CWT-ANN models each with different wavelet function. In addition, the proposed ensemble system outperformed the conventional autoregressive moving average process. As a result, the proposed ensemble system is suitable to capture symmetry/asymmetry in financial data fluctuations for better prediction accuracy.

Forecasting VaR and ES of stock index portfolio: A Vine copula method

NASA Astrophysics Data System (ADS)

Zhang, Bangzheng; Wei, Yu; Yu, Jiang; Lai, Xiaodong; Peng, Zhenfeng

2014-12-01

Risk measurement has both theoretical and practical significance in risk management. Using daily sample of 10 international stock indices, firstly this paper models the internal structures among different stock markets with C-Vine, D-Vine and R-Vine copula models. Secondly, the Value-at-Risk (VaR) and Expected Shortfall (ES) of the international stock markets portfolio are forecasted using Monte Carlo method based on the estimated dependence of different Vine copulas. Finally, the accuracy of VaR and ES measurements obtained from different statistical models are evaluated by UC, IND, CC and Posterior analysis. The empirical results show that the VaR forecasts at the quantile levels of 0.9, 0.95, 0.975 and 0.99 with three kinds of Vine copula models are sufficiently accurate. Several traditional methods, such as historical simulation, mean-variance and DCC-GARCH models, fail to pass the CC backtesting. The Vine copula methods can accurately forecast the ES of the portfolio on the base of VaR measurement, and D-Vine copula model is superior to other Vine copulas.

Enhancing Nursing Staffing Forecasting With Safety Stock Over Lead Time Modeling.

PubMed

McNair, Douglas S

2015-01-01

In balancing competing priorities, it is essential that nursing staffing provide enough nurses to safely and effectively care for the patients. Mathematical models to predict optimal "safety stocks" have been routine in supply chain management for many years but have up to now not been applied in nursing workforce management. There are various aspects that exhibit similarities between the 2 disciplines, such as an evolving demand forecast according to acuity and the fact that provisioning "stock" to meet demand in a future period has nonzero variable lead time. Under assumptions about the forecasts (eg, the demand process is well fit as an autoregressive process) and about the labor supply process (≥1 shifts' lead time), we show that safety stock over lead time for such systems is effectively equivalent to the corresponding well-studied problem for systems with stationary demand bounds and base stock policies. Hence, we can apply existing models from supply chain analytics to find the optimal safety levels of nurse staffing. We use a case study with real data to demonstrate that there are significant benefits from the inclusion of the forecast process when determining the optimal safety stocks.

Integrating Anisakis spp. parasites data and host genetic structure in the frame of a holistic approach for stock identification of selected Mediterranean Sea fish species.

PubMed

Mattiucci, S; Cimmaruta, R; Cipriani, P; Abaunza, P; Bellisario, B; Nascetti, G

2015-01-01

The unique environment of the Mediterranean Sea makes fish stock assessment a major challenge. Stock identification of Mediterranean fisheries has been based mostly from data on biology, morphometrics, artificial tags, otolith shape and fish genetics, with less effort on the use of parasites as biomarkers. Here we use some case studies comparing Mediterranean vs Atlantic fish stocks in a multidisciplinary framework. The generalized Procrustes Rotation (PR) was used to assess the association between host genetics and larval Anisakis spp. datasets on demersal (hake) and pelagic (horse mackerel, swordfish) species. When discordant results emerged, they were due to the different features of the data. While fish population genetics can detect changes over an evolutionary timescale, providing indications on the cohesive action of gene flow, parasites are more suitable biomarkers when considering fish stocks over smaller temporal and spatial scales, hence giving information of fish movements over their lifespan. Future studies on the phylogeographic analysis of parasites suitable as biomarkers, and that of their fish host, performed on the same genes, will represent a further tool to be included in multidisciplinary studies on fish stock structure.

Vertical patterns and controls of soil nutrients in alpine grassland: Implications for nutrient uptake.

PubMed

Tian, Liming; Zhao, Lin; Wu, Xiaodong; Fang, Hongbing; Zhao, Yonghua; Yue, Guangyang; Liu, Guimin; Chen, Hao

2017-12-31

Vertical patterns and determinants of soil nutrients are critical to understand nutrient cycling in high-altitude ecosystems; however, they remain poorly understood in the alpine grassland due to lack of systematic field observations. In this study, we examined vertical distributions of soil nutrients and their influencing factors within the upper 1m of soil, using data of 68 soil profiles surveyed in the alpine grassland of the eastern Qinghai-Tibet Plateau. Soil organic carbon (SOC) and total nitrogen (TN) stocks decreased with depth in both alpine meadow (AM) and alpine steppe (AS), but remain constant along the soil profile in alpine swamp meadow (ASM). Total phosphorus, Ca 2+ , and Mg 2+ stocks slightly increased with depth in ASM. K + stock decreased with depth, while Na + stock increased slightly with depth among different vegetation types; however, SO 4 2- and Cl - stocks remained relatively uniform throughout different depth intervals in the alpine grassland. Except for SOC and TN, soil nutrient stocks in the top 20cm soils were significantly lower in ASM compared to those in AM and AS. Correlation analyses showed that SOC and TN stocks in the alpine grassland positively correlated with vegetation coverage, soil moisture, clay content, and silt content, while they negatively related to sand content and soil pH. However, base cation stocks revealed contrary relationships with those environmental variables compared to SOC and TN stocks. These correlations varied between vegetation types. In addition, no significant relationship was detected between topographic factors and soil nutrients. Our findings suggest that plant cycling and soil moisture primarily control vertical distributions of soil nutrients (e.g. K) in the alpine grassland and highlight that vegetation types in high-altitude permafrost regions significantly affect soil nutrients. Copyright © 2017 Elsevier B.V. All rights reserved.

A novel stock forecasting model based on High-order-fuzzy-fluctuation Trends and Back Propagation Neural Network

PubMed Central

Dai, Zongli; Zhao, Aiwu; He, Jie

2018-01-01

In this paper, we propose a hybrid method to forecast the stock prices called High-order-fuzzy-fluctuation-Trends-based Back Propagation(HTBP)Neural Network model. First, we compare each value of the historical training data with the previous day's value to obtain a fluctuation trend time series (FTTS). On this basis, the FTTS blur into fuzzy time series (FFTS) based on the fluctuation of the increasing, equality, decreasing amplitude and direction. Since the relationship between FFTS and future wave trends is nonlinear, the HTBP neural network algorithm is used to find the mapping rules in the form of self-learning. Finally, the results of the algorithm output are used to predict future fluctuations. The proposed model provides some innovative features:(1)It combines fuzzy set theory and neural network algorithm to avoid overfitting problems existed in traditional models. (2)BP neural network algorithm can intelligently explore the internal rules of the actual existence of sequential data, without the need to analyze the influence factors of specific rules and the path of action. (3)The hybrid modal can reasonably remove noises from the internal rules by proper fuzzy treatment. This paper takes the TAIEX data set of Taiwan stock exchange as an example, and compares and analyzes the prediction performance of the model. The experimental results show that this method can predict the stock market in a very simple way. At the same time, we use this method to predict the Shanghai stock exchange composite index, and further verify the effectiveness and universality of the method. PMID:29420584

A novel stock forecasting model based on High-order-fuzzy-fluctuation Trends and Back Propagation Neural Network.

PubMed

Guan, Hongjun; Dai, Zongli; Zhao, Aiwu; He, Jie

2018-01-01

In this paper, we propose a hybrid method to forecast the stock prices called High-order-fuzzy-fluctuation-Trends-based Back Propagation(HTBP)Neural Network model. First, we compare each value of the historical training data with the previous day's value to obtain a fluctuation trend time series (FTTS). On this basis, the FTTS blur into fuzzy time series (FFTS) based on the fluctuation of the increasing, equality, decreasing amplitude and direction. Since the relationship between FFTS and future wave trends is nonlinear, the HTBP neural network algorithm is used to find the mapping rules in the form of self-learning. Finally, the results of the algorithm output are used to predict future fluctuations. The proposed model provides some innovative features:(1)It combines fuzzy set theory and neural network algorithm to avoid overfitting problems existed in traditional models. (2)BP neural network algorithm can intelligently explore the internal rules of the actual existence of sequential data, without the need to analyze the influence factors of specific rules and the path of action. (3)The hybrid modal can reasonably remove noises from the internal rules by proper fuzzy treatment. This paper takes the TAIEX data set of Taiwan stock exchange as an example, and compares and analyzes the prediction performance of the model. The experimental results show that this method can predict the stock market in a very simple way. At the same time, we use this method to predict the Shanghai stock exchange composite index, and further verify the effectiveness and universality of the method.

Combining ALS-Inhibiting Herbicides with the Fungal Pathogen Mycoleptodiscus terrestris for Control of Hydrilla

DTIC Science & Technology

2009-07-01

pyridinecarboxylic acid), have undergone registration and a third, bispyribac- sodium ( sodium 2,6-bis[(4,6-dimethoxy-2-pyrimidinyl)oxy] benzoate ) is...evaluate the effectiveness of three ALS-inhibiting herbicides (penoxsulam, imazamox, and bispyribac- sodium ) and a fungal pathogen applied alone and in...and weights were recorded. Study 3 - Bispyribac- sodium + Mt. A concentrated stock solution of bispyribac- sodium was prepared by dissolving a

Assessment of soil organic carbon stocks under future climate and land cover changes in Europe.

PubMed

Yigini, Yusuf; Panagos, Panos

2016-07-01

Soil organic carbon plays an important role in the carbon cycling of terrestrial ecosystems, variations in soil organic carbon stocks are very important for the ecosystem. In this study, a geostatistical model was used for predicting current and future soil organic carbon (SOC) stocks in Europe. The first phase of the study predicts current soil organic carbon content by using stepwise multiple linear regression and ordinary kriging and the second phase of the study projects the soil organic carbon to the near future (2050) by using a set of environmental predictors. We demonstrate here an approach to predict present and future soil organic carbon stocks by using climate, land cover, terrain and soil data and their projections. The covariates were selected for their role in the carbon cycle and their availability for the future model. The regression-kriging as a base model is predicting current SOC stocks in Europe by using a set of covariates and dense SOC measurements coming from LUCAS Soil Database. The base model delivers coefficients for each of the covariates to the future model. The overall model produced soil organic carbon maps which reflect the present and the future predictions (2050) based on climate and land cover projections. The data of the present climate conditions (long-term average (1950-2000)) and the future projections for 2050 were obtained from WorldClim data portal. The future climate projections are the recent climate projections mentioned in the Fifth Assessment IPCC report. These projections were extracted from the global climate models (GCMs) for four representative concentration pathways (RCPs). The results suggest an overall increase in SOC stocks by 2050 in Europe (EU26) under all climate and land cover scenarios, but the extent of the increase varies between the climate model and emissions scenarios. Copyright © 2016 The Authors. Published by Elsevier B.V. All rights reserved.

Molecular and immunological characterisation of Theileria parva stocks which are components of the 'Muguga cocktail' used for vaccination against East Coast fever in cattle.

PubMed

Bishop, R; Geysen, D; Spooner, P; Skilton, R; Nene, V; Dolan, T; Morzaria, S

2001-01-20

The 'Muguga cocktail' which is composed of three Theileria parva stocks Muguga, Kiambu 5 and Serengeti-transformed has been used extensively for live vaccination against East Coast fever in cattle in eastern, central and southern Africa. Herein we describe the molecular characterisation of the T. parva vaccine stocks using three techniques, an indirect fluorescent antibody test with a panel of anti-schizont monoclonal antibodies (MAb), Southern blotting with four T. parva repetitive DNA probes and polymerase chain reaction (PCR)-based assays detecting polymorphism within four single copy loci encoding antigen genes. The Muguga and Serengeti-transformed stocks exhibited no obvious differences in their reactivity with the panel of MAbs, whereas Kiambu 5 differed with several MAbs. Kiambu 5 DNA was very distinct from the Muguga and Serengeti-transformed isolates in the hybridisation pattern with all four nucleic acid probes, whereas Muguga and Serengeti-transformed isolates exhibited minor differences and could not be discriminated with one of the probes. PCR amplification in combination with restriction fragment length polymorphism analysis indicated that Kiambu 5 was also markedly divergent from the Muguga and Serengeti-transformed stocks within two of the four antigen coding genes. The T. parva Serengeti-transformed stock did not contain a 130 base pair insert within the p67 sporozoite antigen gene, which has been observed previously in most T. parva parasites isolated from buffalo, and could not be discriminated from T. parva Muguga at any of the four single copy loci. Collectively the data indicate that two of the cocktail components T. parva Serengeti-transformed and Muguga are genetically closely related, while the third component Kiambu 5 is quite distinct. Based on the findings, there may be a need to include only one of the T. parva Muguga and Serengeti-transformed components in the immunising cocktail. The study demonstrates the value of molecular characterisation data for monitoring of live vaccines.

Price performance following stock's IPO in different price limit systems

NASA Astrophysics Data System (ADS)

Wu, Ting; Wang, Yue; Li, Ming-Xia

2018-01-01

An IPO burst occurred in China's stock markets in 2015, while price limit trading rules usually help to reduce the short-term trading mania on individual stocks. It is interesting to make clear the function of the price limits after IPOs. We firstly make a statistical analysis based on all the IPO stocks listed from 1990 to 2015. A high dependency exists between the activities in stock's IPO and various market environment. We also focus on the price dynamics in the first 40 trading days after the stock listed. We find that price limit system will delay the price movement, especially for the up-trend movements, which may lead to longer continuous price limit hits. Similar to our previous work, many results such as ;W; shape can be also observed in the future daily return after the price limit open. At last, we find most IPO measures show evident correlations with the following price limit hits. IPO stocks with lower first-day turnover and earning per share will be followed with a longer continuous price limit hits and lower future daily return under the newest trading rules, which give us a good way to estimate the occurrence of price limit hits and the following price dynamics. Our analysis provides a better understanding of the price dynamics after IPO events and offers potential practical values for investors.

The utilization of patin fish head for instant stock paste

NASA Astrophysics Data System (ADS)

Hartanto, Gabriela Mawi; Rahmawati, Della; Puteri, Maria Gunawan

2017-01-01

Patin fish is a developing industries that produce 67% of waste which 33% is the head. High protein content in patin fish head (PFH) open an opportunity to produce something that has higher economic value and can be used as human consumption, which is stock. In this study, PFH hydrolysis with acid, enzyme and heat were observed for their yield of protein, in correlation to taste & national standard for stock. Enzyme hydrolysis is chosen as the selected method with the highest protein and soluble amino acid which is 18.78 ± 7.50 mg BSA equivalent / ml and 0.854 ± 4.35 mg Tyrosine eq / ml. The hydrolysate was made into stock by mixing with other ingredient by the help of Design Expert to create selected formula. The formula composition is fish hydrolysate 27.29%, salt 19.17%, caramel 18.52%, garlic 6%, pepper 3.104%, oil 18.52% and water 7.47%. This formula receive 7.13 value from hedonic scale 1-9, which means the formula like moderately based on overall acceptance. For 4 gram stock, 150 ml of water was chosen as the preferable dilution volume for the stock with ranking test. Total nitrogen of the instant stock paste with selected hydrolysis method and formula fulfill National Standard according to SNI No. 01-4218 with 0.077% nitrogen amount.

Evolutions of fluctuation modes and inner structures of global stock markets

NASA Astrophysics Data System (ADS)

Yan, Yan; Wang, Lei; Liu, Maoxin; Chen, Xiaosong

2016-09-01

The paper uses empirical data, including 42 globally main stock indices in the period 1996-2014, to systematically study the evolution of fluctuation modes and inner structures of global stock markets. The data are large in scale considering both time and space. A covariance matrix-based principle fluctuation mode analysis (PFMA) is used to explore the properties of the global stock markets. It has been ignored by previous studies that covariance matrix is more suitable than the correlation matrix to be the basis of PFMA. It is found that the principle fluctuation modes of global stock markets are in the same directions, and global stock markets are divided into three clusters, which are found to be closely related to the countries’ locations with exceptions of China, Russia and Czech Republic. A time-stable correlation network constructing method is proposed to solve the problem of high-level statistical uncertainty when the estimated periods are very short, and the complex dynamic network (CDN) is constructed to investigate the evolution of inner structures. The results show when the clusters emerge and how long the clusters exist. When the 2008 financial crisis broke out, the indices form one cluster. After these crises, only the European cluster still exists. These findings complement the previous studies, and can help investors and regulators to understand the global stock markets.

Carbon Consequences of Forest Disturbance and Recovery Across the Conterminous United States

NASA Technical Reports Server (NTRS)

Williams, Christopher A.; Collatz, G. James; Masek, Jeffrey; Goward, Samuel N.

2012-01-01

Forests of North America are thought to constitute a significant long term sink for atmospheric carbon. The United States Forest Service Forest Inventory and Analysis (FIA) program has developed a large data base of stock changes derived from consecutive estimates of growing stock volume in the US. These data reveal a large and relatively stable increase in forest carbon stocks over the last two decades or more. The mechanisms underlying this national increase in forest stocks may include recovery of forests from past disturbances, net increases in forest area, and growth enhancement driven by climate or fertilization by CO2 and Nitrogen. Here we estimate the forest recovery component of the observed stock changes using FIA data on the age structure of US forests and carbon stocks as a function of age. The latter are used to parameterize forest disturbance and recovery processes in a carbon cycle model. We then apply resulting disturbance/recovery dynamics to landscapes and regions based on the forest age distributions. The analysis centers on 28 representative climate settings spread about forested regions of the conterminous US. We estimate carbon fluxes for each region and propagate uncertainties in calibration data through to the predicted fluxes. The largest recovery-driven carbon sinks are found in the South central, Pacific Northwest, and Pacific Southwest regions, with spatially averaged net ecosystem productivity (NEP) of about 100 g C / square m / a driven by forest age structure. Carbon sinks from recovery in the Northeast and Northern Lake States remain moderate to large owing to the legacy of historical clearing and relatively low modern disturbance rates from harvest and fire. At the continental scale, we find a conterminous U.S. forest NEP of only 0.16 Pg C/a from age structure in 2005, or only 0.047 Pg C/a of forest stock change after accounting for fire emissions and harvest transfers. Recent estimates of NEP derived from inventory stock change, harvest, and fire data show twice the NEP sink we derive from forest age distributions. We discuss possible reasons for the discrepancies including modeling errors and the possibility of climate and/or fertilization (CO2 or N) growth enhancements.

Correlation based networks of equity returns sampled at different time horizons

NASA Astrophysics Data System (ADS)

Tumminello, M.; di Matteo, T.; Aste, T.; Mantegna, R. N.

2007-01-01

We investigate the planar maximally filtered graphs of the portfolio of the 300 most capitalized stocks traded at the New York Stock Exchange during the time period 2001 2003. Topological properties such as the average length of shortest paths, the betweenness and the degree are computed on different planar maximally filtered graphs generated by sampling the returns at different time horizons ranging from 5 min up to one trading day. This analysis confirms that the selected stocks compose a hierarchical system progressively structuring as the sampling time horizon increases. Finally, a cluster formation, associated to economic sectors, is quantitatively investigated.

Price returns efficiency of the Shanghai A-Shares

NASA Astrophysics Data System (ADS)

Long, Wang Jiang; Jaaman, Saiful Hafizah; Samsudin, Humaida Banu

2014-06-01

Beta measured from the capital asset pricing model (CAPM) is the most widely used risk to estimate expected return. In this paper factors that influence Shanghai A-share stock return based on CAPM are explored and investigated. Price data of 312 companies listed on Shanghai Stock Exchange (SSE) from the year 2000 to 2011 are investigated. This study employed the Fama-MacBeth cross-sectional method to avoid weakness of traditional CAPM. In addition, this study improves the model by adjusting missing data. Findings of this study justifies that systematic risk can explain the portfolios' returns of China SSE stock market.

Persistence Probability Analyzed on the Taiwan STOCK Market

NASA Astrophysics Data System (ADS)

Chen, I.-Chun; Chen, Hung-Jung; Tseng, Hsen-Che

We report a numerical study of the Taiwan stock market, in which we used three data sources: the daily Taiwan stock exchange index (TAIEX) from January 1983 to May 2006, the daily OTC index from January 1995 to May 2006, and the one-min intraday data from February 2000 to December 2003. Our study is based on numerical estimates of persistence exponent θp, Hurst exponent H2, and fluctuation exponent h2. We also discuss the results concerning persistence probability P(t), qth-order price-price correlation function Gq(t), and qth-order normalized fluctuation function fq(t) among these indices.

Analysis of vibrational load influence upon passengers in trains with a compulsory body tilt

NASA Astrophysics Data System (ADS)

Antipin, D. Ya; Kobishchanov, V. V.; Lapshin, V. F.; Mitrakov, A. S.; Shorokhov, S. G.

2017-02-01

The procedure for forecasting the vibrational load influence upon passengers of trains of rolling stocks equipped with a system of a compulsory body tilt on railroad curves is offered. The procedure is based on the use of computer simulation methods and application of solid-state models of anthropometrical mannequins. As a result of the carried out investigations, there are substantiated criteria of the comfort level estimate for passengers in the rolling-stock under consideration. The procedure is approved by the example of the promising domestic rolling stock with a compulsory body tilt on railroad curves.

Estimating the value of a Country's built assets: investment-based exposure modelling for global risk assessment

NASA Astrophysics Data System (ADS)

Daniell, James; Pomonis, Antonios; Gunasekera, Rashmin; Ishizawa, Oscar; Gaspari, Maria; Lu, Xijie; Aubrecht, Christoph; Ungar, Joachim

2017-04-01

In order to quantify disaster risk, there is a demand and need for determining consistent and reliable economic value of built assets at national or sub national level exposed to natural hazards. The value of the built stock in the context of a city or a country is critical for risk modelling applications as it allows for the upper bound in potential losses to be established. Under the World Bank probabilistic disaster risk assessment - Country Disaster Risk Profiles (CDRP) Program and rapid post-disaster loss analyses in CATDAT, key methodologies have been developed that quantify the asset exposure of a country. In this study, we assess the complementary methods determining value of building stock through capital investment data vs aggregated ground up values based on built area and unit cost of construction analyses. Different approaches to modelling exposure around the world, have resulted in estimated values of built assets of some countries differing by order(s) of magnitude. Using the aforementioned methodology of comparing investment data based capital stock and bottom-up unit cost of construction values per square meter of assets; a suitable range of capital stock estimates for built assets have been created. A blind test format was undertaken to compare the two types of approaches from top-down (investment) and bottom-up (construction cost per unit), In many cases, census data, demographic, engineering and construction cost data are key for bottom-up calculations from previous years. Similarly for the top-down investment approach, distributed GFCF (Gross Fixed Capital Formation) data is also required. Over the past few years, numerous studies have been undertaken through the World Bank Caribbean and Central America disaster risk assessment program adopting this methodology initially developed by Gunasekera et al. (2015). The range of values of the building stock is tested for around 15 countries. In addition, three types of costs - Reconstruction cost (building back to the standard required by building codes); Replacement cost (gross capital stock) and Book value (net capital stock - depreciated value of assets) are discussed and the differences in methodologies assessed. We then examine historical costs (reconstruction and replacement) and losses (book value) of natural disasters versus this upper bound of capital stock in various locations to examine the impact of a reasonable capital stock estimate. It is found that some historic loss estimates in publications are not reasonable given the value of assets at the time of the event. This has applications for quantitative disaster risk assessment and development of country disaster risk profiles, economic analyses and benchmarking upper loss limits of built assets damaged due to natural hazards.

Pigouvian taxation of energy for flow and stock externalities and strategic, noncompetitive energy pricing

DOE Office of Scientific and Technical Information (OSTI.GOV)

Wirl, F.

1994-01-01

The literature on energy and carbon taxes is by and large concerned about the derivation of (globally) efficient strategies. In contrast, this paper considers the dynamic interactions between cartelized energy suppliers and a consumers' government that collectively taxes energy carriers for Pigouvian motives. Two different kinds of external costs are associated with energy consumption: flow (e.g., acid rain) and stock externalities (e.g., global warming). The dynamic interactions between a consumers' government and a producers' cartel are modeled as a differential game with a subgame perfect Nash equilibrium in linear and nonlinear Markov strategies. The major implications are that the nonlinearmore » solutions are Pareto-inferior to the linear strategies and energy suppliers may preempt energy taxation and thereby may raise the price at front; however, this effect diminishes over time because the producers' price declines, while taxes increase. 22 refs., 5 figs., 1 tab.« less

Production model in the conditions of unstable demand taking into account the influence of trading infrastructure: Ergodicity and its application

NASA Astrophysics Data System (ADS)

Obrosova, N. K.; Shananin, A. A.

2015-04-01

A production model with allowance for a working capital deficit and a restricted maximum possible sales volume is proposed and analyzed. The study is motivated by an attempt to analyze the problems of functioning of low competitive macroeconomic structures. The model is formalized in the form of a Bellman equation, for which a closed-form solution is found. The stochastic process of product stock variations is proved to be ergodic and its final probability distribution is found. Expressions for the average production load and the average product stock are found by analyzing the stochastic process. A system of model equations relating the model variables to official statistical parameters is derived. The model is identified using data from the Fiat and KAMAZ companies. The influence of the credit interest rate on the firm market value assessment and the production load level are analyzed using comparative statics methods.

A mechanical property and stress corrosion evaluation of 431 stainless steel alloy

NASA Technical Reports Server (NTRS)

Montano, J. W.

1973-01-01

The mechanical properties of type 431 stainless steel in two conditions: annealed bar and hardened and tempered bar are presented. Test specimens, manufactured from approximately 1.0 inch (2.54 cm) diameter bar stock, were tested at temperatures of 80 F (+26.7 C), 0 F (-17.8 C), -100 F (-73 C), and -200 F (-129 C). The test data indicated excellent tensile strength, notched/unnotched tensile ratio, ductility, shear, and impact properties at all testing temperatures. Results of the alternate immersion stress corrosion tests on stressed and unstressed longitudinal tensile specimens 0.1250 inch (0.3175 cm) diameter and transverse C-ring specimens, machined from 1.0 inch (2.54 cm) diameter bar stock, indicated that the material is not susceptible to stress corrosion cracking when tested in a 3.5 percent NaCl solution for 180 days.

Parental genetic diversity of brown trout (Salmo trutta m. fario) brood stock affects offspring susceptibility to whirling disease.

PubMed

Eszterbauer, Edit; Forró, Barbara; Tolnai, Zoltán; Guti, Csaba Ferenc; Zsigmond, Gergely; Hoitsy, György; Kallert, Dennis Marc

2015-03-03

Whirling disease, caused by the myxozoan parasite Myxobolus cerebralis, has high economical and ecological importance worldwide. Susceptibility to the disease varies considerably among salmonid species. In brown trout (Salmo trutta) the infection is usually subclinical with low mortality, which increases the risk of parasite dissemination, especially when farm fish are used for stocking natural habitats. The influence of intraspecific genetic differences (especially the level of homozygosity) on susceptibility is unknown. Therefore, we examined the possible correlations between parental genetic diversity and offspring susceptibility of brown trout stocks to whirling disease. Two brown trout brood stocks from a German and a Hungarian fish farm were genetically characterized using microsatellite and lineage-specific genetic markers. The individual inbreeding coefficient f and pairwise relatedness factor r were estimated based on eight microsatellite markers. Brood stock populations were divided into groups according to low and high f and r value estimates and subjected to selective fertilization. The offspring from these separate groups were exposed to M. cerebralis actinospores, and the infection prevalence and intensity was measured and statistically analysed. The analysis of phylogeographic lineage heritage revealed high heterogeneity in the Hungarian brood stock since > 50% of individuals were Atlantic-Danubian hybrids, while only pure Atlantic-descending specimens were detected in the German population. Based on f msat and r msat estimations, classified non-inbred (NIB), inbred (IB) and a group of closely related fish (REL) were created. The susceptibility of their offspring varied considerably. Although there was no significant difference in the prevalence of M. cerebralis infection, the mean intensity of infection differed significantly between NIB and IB groups. In REL and IB groups, a high variability was observed in infection intensity. No external clinical signs were observed in the exposed brown trout groups. Our findings indicate that the allelic diversity of brown trout brood stock may constitute a significant factor in disease susceptibility, i.e. the intensity of parasite infection in the subsequent generation.

[Stock based medicine: the patient waiting in a weary medical procedure].

PubMed

Casas Patiño, Donovan; Rodriguez Torres, Alejandra; Casas Patiño, Isaac

2015-03-24

This essay attempts to bring on a new perspective for healthcare professionals regarding the problems that surround this institutionalized profession, based on a system of stock balances and not on the real needs of patients and their community. The healthcare professional not only engages in biomedical healing but also possesses knowledge and expertise regarding the dialectical process of health/disease. Thus, his or her practice and actions should be centered on social practices and not just the healing process.

Adult Competency Education Kit. Basic Skills in Speaking, Math, and Reading for Employment. Part I. ACE Competency Based Job Descriptions: #30--Roofer Apprentice; #31--Pipefitter; #32--Medical Supply Clerk; #33--Stock Clerk; #35--Warehouseman (Laborer, Stores).

ERIC Educational Resources Information Center

San Mateo County Office of Education, Redwood City, CA. Career Preparation Centers.

This sixth of fifteen sets of Adult Competency Education (ACE) Based Job Descriptions in the ACE kit contains job descriptions for Roofer Apprentice, Pipefitter, Medical Supply Clerk, Stock Clerk, and Warehouseperson. Each begins with a fact sheet that includes this information: occupational title, D.O.T. code, ACE number, career ladder, D.O.T.…

Toward Improved Initial Provisioning Strategies: The F-16 Case

DTIC Science & Technology

1982-04-01

0179 14000 .0973 .0000 .0406 .0233 .0327 .0265 23000 . 0786 .0000 .0708 .0764 .0384 .0273 24000 .0765 .0000 .0291 .0400 .0339 .0238 41000 .0634...condemnation on recoverable split repair will be considered at depot level. Excerpt II Depot Repair Cycle: Organic ■;Hr ERRC "C" 52 days ERRC "T...34 55 days ERRC "L" 52 days Base Stock Level: Base OST BRC 5 days 2 days 12 days 5 days 12 days 2 days Overhaul Stock Level 12 days 12 days

Complex network construction based on user group attention sequence

NASA Astrophysics Data System (ADS)

Zhang, Gaowei; Xu, Lingyu; Wang, Lei

2018-04-01

In the traditional complex network construction, it is often to use the similarity between nodes, build the weight of the network, and finally build the network. However, this approach tends to focus only on the coupling between nodes, while ignoring the information transfer between nodes and the transfer of directionality. In the network public opinion space, based on the set of stock series that the network groups pay attention to within a certain period of time, we vectorize the different stocks and build a complex network.

Fewer but not smaller schools in declining fish and krill populations.

PubMed

Brierley, Andrew S; Cox, Martin J

2015-01-05

Many pelagic species (species that live in the water column), including herring and krill, aggregate to form schools, shoals, or swarms (hereafter simply "schools," although the words are not synonyms). Schools provide benefits to individual members, including locomotory economy and protection from predators that prey on individuals, but paradoxically make schooling species energetically viable and commercially attractive targets for predators of groups and for fishers. Large schools are easier to find and yield greater prey/catch than small schools, and there is a requirement from fields as diverse as theoretical ecology and fisheries management to understand whether and how aggregation sizes change with changing population size. We collated data from vertical echosounder surveys of taxonomically diverse pelagic stocks from geographically diverse ecosystems. The data contain common significant positive linear stock-biomass to school-number relationships. They show that the numbers of schools in the stocks change with changing stock biomass and suggest that the distributions of school sizes do not change with stock biomass. New data that we collected using a multibeam sonar, which can image entire schools, contained the same stock-biomass to school-number relationship and confirm that the distribution of school sizes is not related to changing stock size: put simply, as stocks decline, individuals are distributed among fewer schools, not smaller schools. Since school characteristics affect catchability (the ease or difficulty with which fishers can capture target species) and availability of prey to predators, our findings have commercial and ecological implications, particularly within the aspirational framework of ecosystem-based management of marine systems. Copyright © 2015 Elsevier Ltd. All rights reserved.

Eco-label conveys reliable information on fish stock health to seafood consumers.

PubMed

Gutiérrez, Nicolás L; Valencia, Sarah R; Branch, Trevor A; Agnew, David J; Baum, Julia K; Bianchi, Patricia L; Cornejo-Donoso, Jorge; Costello, Christopher; Defeo, Omar; Essington, Timothy E; Hilborn, Ray; Hoggarth, Daniel D; Larsen, Ashley E; Ninnes, Chris; Sainsbury, Keith; Selden, Rebecca L; Sistla, Seeta; Smith, Anthony D M; Stern-Pirlot, Amanda; Teck, Sarah J; Thorson, James T; Williams, Nicholas E

2012-01-01

Concerns over fishing impacts on marine populations and ecosystems have intensified the need to improve ocean management. One increasingly popular market-based instrument for ecological stewardship is the use of certification and eco-labeling programs to highlight sustainable fisheries with low environmental impacts. The Marine Stewardship Council (MSC) is the most prominent of these programs. Despite widespread discussions about the rigor of the MSC standards, no comprehensive analysis of the performance of MSC-certified fish stocks has yet been conducted. We compared status and abundance trends of 45 certified stocks with those of 179 uncertified stocks, finding that 74% of certified fisheries were above biomass levels that would produce maximum sustainable yield, compared with only 44% of uncertified fisheries. On average, the biomass of certified stocks increased by 46% over the past 10 years, whereas uncertified fisheries increased by just 9%. As part of the MSC process, fisheries initially go through a confidential pre-assessment process. When certified fisheries are compared with those that decline to pursue full certification after pre-assessment, certified stocks had much lower mean exploitation rates (67% of the rate producing maximum sustainable yield vs. 92% for those declining to pursue certification), allowing for more sustainable harvesting and in many cases biomass rebuilding. From a consumer's point of view this means that MSC-certified seafood is 3-5 times less likely to be subject to harmful fishing than uncertified seafood. Thus, MSC-certification accurately identifies healthy fish stocks and conveys reliable information on stock status to seafood consumers.

Eco-Label Conveys Reliable Information on Fish Stock Health to Seafood Consumers

PubMed Central

Gutiérrez, Nicolás L.; Valencia, Sarah R.; Branch, Trevor A.; Agnew, David J.; Baum, Julia K.; Bianchi, Patricia L.; Cornejo-Donoso, Jorge; Costello, Christopher; Defeo, Omar; Essington, Timothy E.; Hilborn, Ray; Hoggarth, Daniel D.; Larsen, Ashley E.; Ninnes, Chris; Sainsbury, Keith; Selden, Rebecca L.; Sistla, Seeta; Smith, Anthony D. M.; Stern-Pirlot, Amanda; Teck, Sarah J.; Thorson, James T.; Williams, Nicholas E.

2012-01-01

Concerns over fishing impacts on marine populations and ecosystems have intensified the need to improve ocean management. One increasingly popular market-based instrument for ecological stewardship is the use of certification and eco-labeling programs to highlight sustainable fisheries with low environmental impacts. The Marine Stewardship Council (MSC) is the most prominent of these programs. Despite widespread discussions about the rigor of the MSC standards, no comprehensive analysis of the performance of MSC-certified fish stocks has yet been conducted. We compared status and abundance trends of 45 certified stocks with those of 179 uncertified stocks, finding that 74% of certified fisheries were above biomass levels that would produce maximum sustainable yield, compared with only 44% of uncertified fisheries. On average, the biomass of certified stocks increased by 46% over the past 10 years, whereas uncertified fisheries increased by just 9%. As part of the MSC process, fisheries initially go through a confidential pre-assessment process. When certified fisheries are compared with those that decline to pursue full certification after pre-assessment, certified stocks had much lower mean exploitation rates (67% of the rate producing maximum sustainable yield vs. 92% for those declining to pursue certification), allowing for more sustainable harvesting and in many cases biomass rebuilding. From a consumer’s point of view this means that MSC-certified seafood is 3–5 times less likely to be subject to harmful fishing than uncertified seafood. Thus, MSC-certification accurately identifies healthy fish stocks and conveys reliable information on stock status to seafood consumers. PMID:22928029

Implications of sampling design and sample size for national carbon accounting systems

Treesearch

Michael Köhl; Andrew Lister; Charles T. Scott; Thomas Baldauf; Daniel Plugge

2011-01-01

Countries willing to adopt a REDD regime need to establish a national Measurement, Reporting and Verification (MRV) system that provides information on forest carbon stocks and carbon stock changes. Due to the extensive areas covered by forests the information is generally obtained by sample based surveys. Most operational sampling approaches utilize a combination of...

Development and assessment of a physics-based simulation model to investigate residential PM2.5 infiltration across the US housing stock

EPA Science Inventory

The Lawrence Berkeley National Laboratory Population Impact Assessment Modeling Framework (PIAMF) was expanded to enable determination of indoor PM2.5 concentrations and exposures in a set of 50,000 homes representing the US housing stock. A mass-balance model is used to calculat...

Structural stocking guides: a new look at an old friend

Treesearch

Jeffrey H. Gove

2004-01-01

A parameter recovery-based model is developed that allows the incorporation of diameter distribution information directly into stocking guides. The method is completely general in applicability across different guides and forest types and could be adapted to other systems such as density management diagrams. It relies on a simple measure of diameter distribution shape...

Taking Stock of Risk Factors for Child/Youth Externalizing Behavior Problems.

ERIC Educational Resources Information Center

Hann, Della M., Ed.

Research on child and adolescent conduct problems has proliferated over the past 15 years, resulting in an extensive array of risk factors, processes, and targets for intervention. To capitalize fully on this extensive research base and contribute effectively to public mental health, the field now needs to take stock of what is known about child…

75 FR 39070 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing of...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-07-07

... index? If there are trading pauses in an ETF but not in the stocks that underlie that ETF, what... price discovery for the ETF, the underlying stocks and other products? Are there other market-based... Exchange Traded Funds (``ETF''),\\3\\ Exchange Traded Vehicles (``ETV''),\\4\\ and Exchange Traded Notes (``ETN...

75 FR 39084 - Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing of Proposed Rule Change To...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-07-07

... there are trading pauses in an ETF but not in the stocks that underlie that ETF, what consequences might... discovery for the ETF, the underlying stocks and other products? Are there other market-based... filing, ETPs include Exchange Traded Funds (``ETF''),\\3\\ Exchange Traded Vehicles (``ETV''),\\4\\ and...

4.0 Measuring and monitoring forest carbon stocks and fluxes

Treesearch

Jennifer C. Jenkins; Peter S. Murdoch; Richard A. Birdsey; John L. Hom

2008-01-01

Measuring and monitoring forest productivity and carbon (C) is of growing concern for natural resource managers and policymakers. With the Delaware River Basin (DRB) as a pilot region, this subproject of the CEMRI sought to: improve the ability of the ground-based Forest Inventory and Analysis (FIA) networks to more completely assess forest C stocks and fluxes,...

The Effect of Different Feed and Stocking Densities on Growth And Survival Rate Of Blue Swimming Crablets (Portunus pelagicus)

NASA Astrophysics Data System (ADS)

Ariyati, R. W.; Rejeki, S.; Bosma, R. H.

2018-02-01

Blue swimming crab is targeted by commercial fisheries because of the high economic value, good taste, and attractive colors. As a result, the stock is overexploited and fisherman catch market also juveniles. The most sustainable solution would be to stop fishing for commercial trade and to culture this crab from brood to market size. This study aimed to find the best feed and stocking density for the on-growing of crablets. In 20 tanks juvenile crabs with a carapace width±1 cm were stocked in three densities; 40, 60 and 80 crablets / m2, and fed ad-libitum twice a day with either trash fish or pellets of shrimp feed, for 8 weeks. The circular (ᴓ 1.6 m x 1 m) tanks with 1 m3 of water were aerated, and temperature, salinity, dissolved oxygen and pH recorded daily. In the end, growth and survival rates were determined. In general, feeding the crablets at a density of 40 m-2 gave the highest growth. For crablest fed with pellets, the density of 40 m-2 gave significantly better growth than 80 m-2. The crablets at a density 40 m-2 having a fish diet with the density 40 m-2 grew better than 60 and 80 m-2. There was no significant difference between fed used among different densities. The lower densities resulted in higher survival, either on crablets fed with pellets or fish. But, crablets fed the fish diet and cultured in the lowest density (40 m-2) had the highest survival rate.

Factor investing based on Musharakah principle

NASA Astrophysics Data System (ADS)

Simon, Shahril; Omar, Mohd; Lazam, Norazliani Md; Amin, Mohd Nazrul Mohd

2015-10-01

Shariah stock investing has become a widely discussed topic in financial industry as part of today's investment strategy. The strategy primarily applies market capitalization allocations. However, some researchers have argued that market capitalization weighting is inherently flawed and have advocated replacing market capitalization allocations with factor allocations. In this paper, we discuss the rationale for factor investing based on Musharakah principle. The essential elements or factors of Musharakah principle such as business sector, management capability, profitability growth and capital efficiency are embedded in the Shariah-compliant stock. We then transform these factors into indexation for better analysis and performance measurement. Investment universe for this research covers Malaysian stocks for the period of January 2009 to December 2013. We found out that these factor indexes have historically earned excess returns over market capitalization weighted indexes and experienced higher Sharpe Ratios.

Trading strategy based on dynamic mode decomposition: Tested in Chinese stock market

NASA Astrophysics Data System (ADS)

Cui, Ling-xiao; Long, Wen

2016-11-01

Dynamic mode decomposition (DMD) is an effective method to capture the intrinsic dynamical modes of complex system. In this work, we adopt DMD method to discover the evolutionary patterns in stock market and apply it to Chinese A-share stock market. We design two strategies based on DMD algorithm. The strategy which considers only timing problem can make reliable profits in a choppy market with no prominent trend while fails to beat the benchmark moving-average strategy in bull market. After considering the spatial information from spatial-temporal coherent structure of DMD modes, we improved the trading strategy remarkably. Then the DMD strategies profitability is quantitatively evaluated by performing SPA test to correct the data-snooping effect. The results further prove that DMD algorithm can model the market patterns well in sideways market.

Canonical Sectors and Evolution of Firms in the US Stock Markets

NASA Astrophysics Data System (ADS)

Hayden, Lorien; Chachra, Ricky; Alemi, Alexander; Ginsparg, Paul; Sethna, James

2015-03-01

In this work, we show how unsupervised machine learning can provide a more objective and comprehensive broad-level sector decomposition of stocks. Classification of companies into sectors of the economy is important for macroeconomic analysis, and for investments into the sector-specific financial indices and exchange traded funds (ETFs). Historically, these major industrial classification systems and financial indices have been based on expert opinion and developed manually. Our method, in contrast, produces an emergent low-dimensional structure in the space of historical stock price returns. This emergent structure automatically identifies ``canonical sectors'' in the market, and assigns every stock a participation weight into these sectors. Furthermore, by analyzing data from different periods, we show how these weights for listed firms have evolved over time. This work was partially supported by NSF Grants DMR 1312160, OCI 0926550 and DGE-1144153 (LXH).

A wave function for stock market returns

NASA Astrophysics Data System (ADS)

Ataullah, Ali; Davidson, Ian; Tippett, Mark

2009-02-01

The instantaneous return on the Financial Times-Stock Exchange (FTSE) All Share Index is viewed as a frictionless particle moving in a one-dimensional square well but where there is a non-trivial probability of the particle tunneling into the well’s retaining walls. Our analysis demonstrates how the complementarity principle from quantum mechanics applies to stock market prices and of how the wave function presented by it leads to a probability density which exhibits strong compatibility with returns earned on the FTSE All Share Index. In particular, our analysis shows that the probability density for stock market returns is highly leptokurtic with slight (though not significant) negative skewness. Moreover, the moments of the probability density determined under the complementarity principle employed here are all convergent - in contrast to many of the probability density functions on which the received theory of finance is based.