The assignment of credit through bills of exchange and transmission documents in Andalusi Law

The exchange traffic was a practice that suited the modus vivendi of caravanners and traders in the Islamic world. The inclusion of the Iberian.Peninsula into the most important commercial routes of Muslims – such as the silk route through the North Africa – provides a very solid reason to deepen in the study of the sources that have been preserved about the role that certain credit instruments, which represented an alternative to the coin, might have played in trade centres.

TrendMiner: Large-scale Cross-lingual Trend Mining Summarization of Real-time Media Streams

El reciente crecimiento masivo de medios on-line y el incremento de los contenidos generados por los usuarios (por ejemplo, weblogs, Twitter, Facebook) plantea retos en el acceso e interpretación de datos multilingües de manera eficiente, rápida y asequible. El objetivo del proyecto TredMiner es desarrollar métodos innovadores, portables, de código abierto y que funcionen en tiempo real para generación de resúmenes y minería cross-lingüe de medios sociales a gran escala. Los resultados se están validando en tres casos de uso: soporte a la decisión en el dominio financiero (con analistas, empresarios, reguladores y economistas), monitorización y análisis político (con periodistas, economistas y políticos) y monitorización de medios sociales sobre salud con el fin de detectar información sobre efectos adversos a medicamentos.

Engineer Leandro Badarán’s project to safeguard the fortresses of Alicante in 1794

After the construction of the San Carlos bastion in Alicante in the final decade of the seventeenth century, and the great trench which the English built around the district of San Francisco during their years of dominance in the War of Succession, the waters of the San Blas gully caused serious damage to these fortifications of the city and to the trade buildings of the port. In 1772, the diversion canal was built. It was designed to divert the riverbed of the gully and send the waters directly to the sea. The project had been initially designed by the Engineer General, Jorge Próspero de Verboom in 1721. This unique work of engineering had some defects, principally in the breakwater which prevented the waters from flowing down the former river course. On several occasions, the water returned to its original riverbed due to the weakness of the breakwater, the narrowness of the channel’s bed and its lack of regularisation, causing serious damage to the bastion, the Babel-facing façade, the traders’ warehouses and other buildings. This study describes the project that the military engineer Leandro Badarán carried out in 1794 in order to technically improve this canal and examines his report on the state of the fortifications. Similar works built in Spain are also explained. It also analyses the repeated disputes between the war department and the port throughout these years over finding a technical solution to the problem.

Is financial instability male-driven? Gender and cognitive skills in experimental asset markets

The hypothesis that price stability would reliably increase with the fraction of women operating in financial markets has been frequently suggested in policy discussions. To test this hypothesis we conducted 10 male-only, 10 female-only and 10 mixed-gender experimental asset markets, and compared the effects of gender composition, confidence, risk attitude and cognitive skills. Male and female markets have comparable volatility and deviations from fundamentals, whereas mixed-gender markets are substantially more stable. On the other hand, higher average cognitive skills of the group are associated with reduced market volatility. Individual-level analysis shows that subjects with higher cognitive skills trade at prices closer to fundamental values and earn significantly higher profits; similarly, mixed markets exhibit lower mispricing, particularly for traders with lower cognitive skills. Our results are demonstrated to hold in other experimental asset market studies, suggesting that a mixed-gender composition reduces mispricing across different types of asset markets.