Good deals in markets with frictions

This paper studies a portfolio choice problem such that the pricing rule may incorporate transaction costs and the risk measure is coherent and expectation bounded. We will prove the necessity of dealing with pricing rules such that there exists an essentially bounded stochastic discount factor, which must be also bounded from below by a strictly positive value. Otherwise good deals will be available to traders, i.e., depending on the selected risk measure, investors can build portfolios whose (risk, return) will be as close as desired to (−infinity, infinity) or (0, infinity). This pathologic property still holds for vector risk measures (i.e., if we minimize a vector valued function whose components are risk measures). It is worthwhile to point out that essentially bounded stochastic discount factors are not usual in financial literature. In particular, the most famous frictionless, complete and arbitrage free pricing models imply the existence of good deals for every coherent and expectation bounded (scalar or vector) measure of risk, and the incorporation of transaction costs will not guarantee the solution of this caveat.

Parental predictors of poor visual outcome with occlusion treatment for unilateral amblyopia

Aim: Visual acuity outcome of amblyopia treatment depends on the compliance. This study aimed to determine parental predictors of poor visual outcome with occlusion treatment in unilateral amblyopia and identify the relationship between occlusion recommendations and the patient's actual dose of occlusion reported by the parents. Methods: This study comprised three phases: refractive adaptation for a period of 18 weeks after spectacle correction; occlusion of 3 to 6 hours per day during a period of 6 months; questionnaire administration and completion by parents. Visual acuity as assessed using the Sheridan-Gardiner singles or Snellen acuity chart was used as a measure of visual outcome. Correlation analysis was used to describe the strength and direction of two variables: prescribed occlusion reported by the doctor and actual dose reported by parents. A logistic binary model was adjusted using the following variables: severity, vulnerability, self-efficacy, behaviour intentions, perceived efficacy and treatment barriers, parents' and childrens' age, and parents' level of education. Results: The study included 100 parents (mean age 38.9 years, SD approx 9.2) of 100 children (mean age 6.3 years, SD approx 2.4) with amblyopia. Twenty-eight percent of children had no improvement in visual acuity. The results showed a positive mild correlation (kappa = 0.54) between the prescribed occlusion and actual dose reported by parents. Three predictors for poor visual outcome with occlusion were identified: parents' level of education (OR = 9.28; 95%CI 1.32-65.41); treatment barriers (OR = 2.75; 95%CI 1.22-6.20); interaction between severity and vulnerability (OR = 3.64; 95%CI 1.21-10.93). Severity (OR = 0.07; 95%CI 0.00-0.72) and vulnerability (OR = 0.06; 95%CI 0.05-0.74) when considered in isolation were identified as protective factors. Conclusions: Parents frequently do not use the correct dosage of occlusion as recommended. Parents' educational level and awareness of treatment barriers were predictors of poor visual outcome. Lower levels of education represented a 9-times higher risk of having a poor visual outcome with occlusion treatment.

Quantifying chaos for ecological stoichiometry

The theory of ecological stoichiometry considers ecological interactions among species with different chemical compositions. Both experimental and theoretical investigations have shown the importance of species composition in the outcome of the population dynamics. A recent study of a theoretical three-species food chain model considering stoichiometry [B. Deng and I. Loladze, Chaos 17, 033108 (2007)] shows that coexistence between two consumers predating on the same prey is possible via chaos. In this work we study the topological and dynamical measures of the chaotic attractors found in such a model under ecological relevant parameters. By using the theory of symbolic dynamics, we first compute the topological entropy associated with unimodal Poincareacute return maps obtained by Deng and Loladze from a dimension reduction. With this measure we numerically prove chaotic competitive coexistence, which is characterized by positive topological entropy and positive Lyapunov exponents, achieved when the first predator reduces its maximum growth rate, as happens at increasing delta(1). However, for higher values of delta(1) the dynamics become again stable due to an asymmetric bubble-like bifurcation scenario. We also show that a decrease in the efficiency of the predator sensitive to prey's quality (increasing parameter zeta) stabilizes the dynamics. Finally, we estimate the fractal dimension of the chaotic attractors for the stoichiometric ecological model.

On differentiability and analyticity of positive definite functions

We derive a set of differential inequalities for positive definite functions based on previous results derived for positive definite kernels by purely algebraic methods. Our main results show that the global behavior of a smooth positive definite function is, to a large extent, determined solely by the sequence of even-order derivatives at the origin: if a single one of these vanishes then the function is constant; if they are all non-zero and satisfy a natural growth condition, the function is real-analytic and consequently extends holomorphically to a maximal horizontal strip of the complex plane.

Paleomagnetic study of the Great Foum Zguid dyke (southern Morocco): A positive contact test related to metasomatic processes

When a paleomagnetic pole is sought for in an igneous body, the host rocks should be subjected to a contact test to assure that the determined paleopole has the age of the intrusion. If the contact test is positive, it precludes the possibility that the measured magnetization is a later effect. Therefore, we investigated the variations of the remanent magnetization along cross-sections of rocks hosting the Foum Zguid dyke (southern Morocco) and the dyke itself. A positive contact test was obtained, but it is mainly related with Chemical/Crystalline Remanent Magnetization due to metasomatic processes in the host-rocks during magma intrusion and cooling, and not only with Thermo-Remanent Magnetization as ordinarily assumed in standard studies. Paleomagnetic data obtained within the dyke then reflect the Earth magnetic field during emplacement of this well-dated (196.9 +/- 1.8 Ma) intrusion.

Idiosyncratic risk really drives stock returns; Spanish evidence

Following the theoretical model of Merton (1987), we provide a new perspective of study about the role of idiosyncratic risk in the asset pricing process. More precisely, we analyze whether the idiosyncratic risk premium depends on the idiosyncratic risk level of an asset as well as the vatriation in the market-wide measure of idiosyncratic risk. As expected, we obtain a net positive risk premium for the Spanish stock market over the period 1987-2007. Our results show a positive relation between returns and individual indiosyncratic risk levels and a negative but lower relation with the aggregate measure of idiosyncratic risk. These findings have important implications for portfolio and risk management and contribute to provide a unified and coherent answer for the main and still unsolved question about the idiosyncratic risk puzzle: whether or not there exists a premium associated to this kind of risk and the sign for this risk premium.

Positive Solutions of the Dirichlet Problem for the One-dimensional Minkowski-Curvature Equation

We discuss existence and multiplicity of positive solutions of the Dirichlet problem for the quasilinear ordinary differential equation-(u' / root 1 - u'(2))' = f(t, u). Depending on the behaviour of f = f(t, s) near s = 0, we prove the existence of either one, or two, or three, or infinitely many positive solutions. In general, the positivity of f is not required. All results are obtained by reduction to an equivalent non-singular problem to which variational or topological methods apply in a classical fashion.

Positive solutions of fourth order problems with clamped beam boundary conditions

n this paper we make an exhaustive study of the fourth order linear operator u((4)) + M u coupled with the clamped beam conditions u(0) = u(1) = u'(0) = u'(1) = 0. We obtain the exact values on the real parameter M for which this operator satisfies an anti-maximum principle. Such a property is equivalent to the fact that the related Green's function is nonnegative in [0, 1] x [0, 1]. When M < 0 we obtain the best estimate by means of the spectral theory and for M > 0 we attain the optimal value by studying the oscillation properties of the solutions of the homogeneous equation u((4)) + M u = 0. By using the method of lower and upper solutions we deduce the existence of solutions for nonlinear problems coupled with this boundary conditions. (C) 2011 Elsevier Ltd. All rights reserved.

Efetividade do Pnf-Chi® na funcionalidade do membro superior e na qualidade de vida, em mulheres submetidas a tratamento cirúrgico por cancro da mama

Mestrado em Fisioterapia.

A similarity measure for music signals

One of the goals in the field of Music Information Retrieval is to obtain a measure of similarity between two musical recordings. Such a measure is at the core of automatic classification, query, and retrieval systems, which have become a necessity due to the ever increasing availability and size of musical databases. This paper proposes a method for calculating a similarity distance between two music signals. The method extracts a set of features from the audio recordings, models the features, and determines the distance between models. While further work is needed, preliminary results show that the proposed method has the potential to be used as a similarity measure for musical signals.

Relação entre bem-estar, adesão ao tratamento e funcionamento sexual na epilepsia

Cada vez mais os profissionais de saúde aspiram contribuir para o maior bem-estar possível dos seus doentes. Neste contexto, torna-se indispensável identificar variáveis, idealmente passíveis de ser modificadas, que estejam relacionadas com o bem-estar dos doentes. Assim, o objectivo do presente estudo é explorar a relação entre bem-estar geral (BEG), adesão ao tratamento (AT) e funcionamento sexual (FS) em indivíduos com epilepsia. Foram avaliados 79 indivíduos com epilepsia (59,5% do sexo feminino; idade: M = 36,10, DP = 11,09; diagnóstico (anos): M = 19,72, DP = 11,50), recorrendo a um Questionário Sócio-demográfico e Clínico, ao Índice de Bem-estar Pessoal, à Medida de Adesão aos Tratamentos e à Escala de Funcionamento Sexual da Multiple Sclerosis Quality of Life Scale com 54 itens (MSQOL-54). Verificaram-se bons indicadores globais de BEG, AT e FS na amostra. Verificaram-se correlações estatisticamente significativas entre o BEG e: a AT (rs(75) = 0,37, p ≤ 0,001) e o FS feminino (rs(35) = -0,44, p ≤ 0,008). Não se verificou uma correlação estatisticamente significativa entre BEG e FS masculino. Ao analisar os indicadores parciais, verificou-se que o FS masculino se correlacionava apenas com a satisfação com a segurança do seu futuro (rs(31) = -0,40, p ≤ 0,03), enquanto o FS feminino se correlacionava com este indicador (rs(35) = -0,36, p ≤ 0,04), com a satisfação com o seu nível de vida (rs(34) = -0,37, p ≤ 0,04) e com a satisfação com a sua vida espiritual ou com a sua religião (rs(35) = -0,40, p ≤ 0,02). Sem esquecer o efectivo da amostra e os indicadores genericamente positivos da mesma, os presentes resultados sugerem que a promoção da AT pode saldar-se por melhorias no BEG dos indivíduos com epilepsia. Já a intervenção ao nível do FS parece apenas promissora, ao nível do BEG, para as doentes. Novas variáveis devem ser exploradas, para que se consigam identificar os melhores preditores do BEG (de amostras mais amplas) destes doentes.

Estudo comparativo entre o tonómetro de aplanação de Goldmann e o tonómetro de não contacto em pacientes com glaucoma primário de ângulo aberto

Mestrado em Gestão e Avaliação de Tecnologias em Saúde

Desafios e potencialidades da metodologia SROI : um estudo de caso

Mestrado em Controlo e Gestão dos Negócios

Práticas de avaliação formativa na aula de matemática: um estudo no 2º ciclo

Dissertação apresentada à Escola Superior de Educação de Lisboa para obtenção de grau de mestre em Educação Matemática na Educação Pré- Escolar e nos 1º e 2º Ciclo do Ensino Básico

Complex variable positive definite functions

In this paper we develop an appropriate theory of positive definite functions on the complex plane from first principles and show some consequences of positive definiteness for meromorphic functions.