Endogenous credit cycles

I develop an overlapping-generations framework in which changes in lending standards generateendogenous cycles. In my economy, entrepreneurs who are privately informed about thequality of their projects need to borrow funds. Intermediaries screen entrepreneurs both throughthe amount of investment undertaken and through the level of entrepreneurial net worth.I show that endogenous regime switches in financial contracts from pooling to separatingand vice-versa may generate fluctuations even in the absence of exogenous shocks. Whenthe economy is in the pooling (separating) regime, lending standards seem lax ( tight ) andinvestment is high (low). Differently from the existing literature, my model does not requireentrepreneurial net worth to be counter cyclycal or inconsequential for determining aggregateinvestment.

Bringing game theory to hypothesis testing: Establishing finite sample bounds on inference

Small sample properties are of fundamental interest when only limited data is avail-able. Exact inference is limited by constraints imposed by speci.c nonrandomizedtests and of course also by lack of more data. These e¤ects can be separated as we propose to evaluate a test by comparing its type II error to the minimal type II error among all tests for the given sample. Game theory is used to establish this minimal type II error, the associated randomized test is characterized as part of a Nash equilibrium of a .ctitious game against nature.We use this method to investigate sequential tests for the di¤erence between twomeans when outcomes are constrained to belong to a given bounded set. Tests ofinequality and of noninferiority are included. We .nd that inference in terms oftype II error based on a balanced sample cannot be improved by sequential sampling or even by observing counter factual evidence providing there is a reasonable gap between the hypotheses.

What do the papers sell?

We model the market for news as a two-sided market where newspapers sell news to readers who value accuracy and sell space to advertisers who value advert-receptive readers. We show that monopolistic newspapers under-report or bias news that sufficiently reduces advertiser profits. Newspaper competition generally reduces the impact of advertising. In fact, as the size of advertising grows, newspapers may paradoxically reduce advertiser bias, due to increasing competition for readers. However, advertisers can counter this effect of competition by committing to news-sensitive cut-off strategies, potentially inducing as much under-reporting as in the monopoly case.

A finite-population revenue management model and a risk-ratio procedure for the joint estimation of population size and parameters

Many dynamic revenue management models divide the sale period into a finite number of periods T and assume, invoking a fine-enough grid of time, that each period sees at most one booking request. These Poisson-type assumptions restrict the variability of the demand in the model, but researchers and practitioners were willing to overlook this for the benefit of tractability of the models. In this paper, we criticize this model from another angle. Estimating the discrete finite-period model poses problems of indeterminacy and non-robustness: Arbitrarily fixing T leads to arbitrary control values and on the other hand estimating T from data adds an additional layer of indeterminacy. To counter this, we first propose an alternate finite-population model that avoids this problem of fixing T and allows a wider range of demand distributions, while retaining the useful marginal-value properties of the finite-period model. The finite-population model still requires jointly estimating market size and the parameters of the customer purchase model without observing no-purchases. Estimation of market-size when no-purchases are unobservable has rarely been attempted in the marketing or revenue management literature. Indeed, we point out that it is akin to the classical statistical problem of estimating the parameters of a binomial distribution with unknown population size and success probability, and hence likely to be challenging. However, when the purchase probabilities are given by a functional form such as a multinomial-logit model, we propose an estimation heuristic that exploits the specification of the functional form, the variety of the offer sets in a typical RM setting, and qualitative knowledge of arrival rates. Finally we perform simulations to show that the estimator is very promising in obtaining unbiased estimates of population size and the model parameters.

Estadísticas e indicadores de rendimiento de colecciones y servicios bibliotecarios de carácter electrónico: estudio de caso de las revistas electrónicas

Se analiza el uso de estadísticas e indicadores de rendimiento de productos y servicios electrónicos en los procesos de evaluación bibliotecaria. Se examinan los principales proyectos de definición de estadísticas e indicadores desarrollados durante los últimos años, prestando especial atención a tres de ellos: Counter, E-metrics e ISO, y se analizan las estadísticas que actualmente ofrecen cuatro grandes editores de revistas electrónicas (American Chemical Society, Emerald, Kluwer y Wiley) y un servicio (Scitation Usage Statistics) que aglutina datos de seis editores de revistas de física. Los resultados muestran un cierto grado de consenso en la determinación de un conjunto básico de estadísticas e indicadores a pesar de la diversidad de proyectos existentes y de la heterogeneidad de datos ofrecidos por los editores.

Twist mode in atomic Fermi gases

The quantum-kinetic energy of a finite number of trapped fermionic atoms provides a restoring force for shear motion due to a distortion of the momentum distribution. In analogy to the twist mode of nuclear physics, it is proposed that counter rotating the upper and lower hemisphere of a spherical atomic cloud yields a finite-frequency mode closely related to transverse zero sound waves in bulk Fermi liquids.

Proton emission off nuclei induced by kaons in flight

We study the (K-, p) reaction on nuclei with a 1 GeV/c momentum kaon beam, paying special attention to the region of emitted protons having kinetic energy above 600 MeV, which was used to claim a deeply attractive kaon nucleus optical potential. Our model describes the nuclear reaction in the framework of a local density approach and the calculations are performed following two different procedures: one is based on a many-body method using the Lindhard function and the other is based on a Monte Carlo simulation. The simulation method offers flexibility to account for processes other than kaon quasielastic scattering, such as K- absorption by one and two nucleons, producing hyperons, and allows consideration of final-state interactions of the K-, the p, and all other primary and secondary particles on their way out of the nucleus, as well as the weak decay of the produced hyperons into pi N. We find a limited sensitivity of the cross section to the strength of the kaon optical potential. We also show a serious drawback in the experimental setup-the requirement for having, together with the energetic proton, at least one charged particle detected in the decay counter surrounding the target-as we find that the shape of the original cross section is appreciably distorted, to the point of invalidating the claims made in the experimental paper on the strength of the kaon nucleus optical.

Disseny d'un sistema de control del consum d'aigua automàtic

Avui en dia s’ha convertit en una necessitat tenir cura del medi ambient i optimitzar els recursos naturals. En el camp per estalviar energia s’han fet grans progressos i disposem d’un gran ventall de dispositius que ens ajuden i ens faciliten l’optimització del consum d’energia. Però és una realitat que en l’estalvi del consum d’aigua el progrés ha estat molt menor i es limita molt a donar consells i repartir dosificadors d’aigua. Qui no ha vist carrers o jardins o cases inundades amb milers de litres d’aigua? Aquesta realitat m’ha portat a dissenyar i desenvolupar un prototip que em permeti tenir un millor control del consum d’aigua. El prototip, a trets principals, consta d’un sensor, una electrovàlvula i una placa Arduino Atmega. El sensor ens permet mesurar els litres consumits durant un cert període de temps. Passat aquest temps de mostreig es compara els litres consumits amb el consum habitual, en aquell període de temps. En cas de sobrepassar el volum programat es tancarà l’electrovàlvula de forma automàtica i rebrem un SMS al telèfon. L’activació de l’alarma es pot ajustar que sigui al igualar-se els dos valors, litres programats i litres consumits. També es pot programar el percentatge que cal sobrepassar de litres consumits per activar l’alarma, com el temps de mostreig. El fet de poder programar tots aquests valors ens permet fer un ajust ideal per a la instal·lació que es vol tenir controlada. A més, el prototip es pot utilitzar per enviar a la companyia d’aigua el valor del comptador de forma automàtica. D’aquesta forma la companyia d’aigua també optimitza recursos estalviant-se el desplaçament de personal a la instal·lació per fer la lectura corresponent. El prototip està basat amb un Arduino Atmega que ens permet el processament de les dades programades i capturades pel sensor. També s’ha incorporat una pantalla TFT Touch 2’8”, que permet visualitzar i programar els valors d’una forma molt més intuïtiva. Per enviar els SMS s’utilitza una placa d’Arduino Cel·lular Shield - SM5100B, a la qual només cal afegir una targeta SIM. A priori, el prototip té un elevat cost al fabricar una sola unitat i pot semblar poc útil. Però ens pot estalviar alguna sorpresa en les factures d’aigua si tenim una fuita i no ens n’adonem fins a veure el rebut de la companyia. Si es fabriqués a grans quantitats es podria abaratir el preu i fer-lo encara més engrescador.

Optimized back-focal-plane interferometry directly measures forces of optically trapped particles

Back-focal-plane interferometry is used to measure displacements of optically trapped samples with very high spatial and temporal resolution. However, the technique is closely related to a method that measures the rate of change in light momentum. It has long been known that displacements of the interference pattern at the back focal plane may be used to track the optical force directly, provided that a considerable fraction of the light is effectively monitored. Nonetheless, the practical application of this idea has been limited to counter-propagating, low-aperture beams where the accurate momentum measurements are possible. Here, we experimentally show that the connection can be extended to single-beam optical traps. In particular, we show that, in a gradient trap, the calibration product κ·β (where κ is the trap stiffness and 1/β is the position sensitivity) corresponds to the factor that converts detector signals into momentum changes; this factor is uniquely determined by three construction features of the detection instrument and does not depend, therefore, on the specific conditions of the experiment. Then, we find that force measurements obtained from back-focal-plane displacements are in practice not restricted to a linear relationship with position and hence they can be extended outside that regime. Finally, and more importantly, we show that these properties are still recognizable even when the system is not fully optimized for light collection. These results should enable a more general use of back-focal-plane interferometry whenever the ultimate goal is the measurement of the forces exerted by an optical trap.

Optimized back-focal-plane interferometry directly measures forces of optically trapped particles

Back-focal-plane interferometry is used to measure displacements of optically trapped samples with very high spatial and temporal resolution. However, the technique is closely related to a method that measures the rate of change in light momentum. It has long been known that displacements of the interference pattern at the back focal plane may be used to track the optical force directly, provided that a considerable fraction of the light is effectively monitored. Nonetheless, the practical application of this idea has been limited to counter-propagating, low-aperture beams where the accurate momentum measurements are possible. Here, we experimentally show that the connection can be extended to single-beam optical traps. In particular, we show that, in a gradient trap, the calibration product κ·β (where κ is the trap stiffness and 1/β is the position sensitivity) corresponds to the factor that converts detector signals into momentum changes; this factor is uniquely determined by three construction features of the detection instrument and does not depend, therefore, on the specific conditions of the experiment. Then, we find that force measurements obtained from back-focal-plane displacements are in practice not restricted to a linear relationship with position and hence they can be extended outside that regime. Finally, and more importantly, we show that these properties are still recognizable even when the system is not fully optimized for light collection. These results should enable a more general use of back-focal-plane interferometry whenever the ultimate goal is the measurement of the forces exerted by an optical trap.

Simultaneous determination of gross alpha, gross beta and Ra-226 in natural water by liquid scintillation counting.

The determination of gross alpha, gross beta and 226Ra activity in natural waters is useful in a wide range of environmental studies. Furthermore, gross alpha and gross beta parameters are included in international legislation on the quality of drinking water [Council Directive 98/83/EC].1 In this work, a low-background liquid scintillation counter (Wallac, Quantulus 1220) was used to simultaneously determine gross alpha, gross beta and 226Ra activity in natural water samples. Sample preparation involved evaporation to remove 222Rn and its short-lived decay daughters. The evaporation process concentrated the sample ten-fold. Afterwards, a sample aliquot of 8 mL was mixed with 12 mL of Ultima Gold AB scintillation cocktail in low-diffusion vials. In this study, a theoretical mathematical model based on secular equilibrium conditions between 226Ra and its short-lived decay daughters is presented. The proposed model makes it possible to determine 226Ra activity from two measurements. These measurements also allow determining gross alpha and gross beta simultaneously. To validate the proposed model, spiked samples with different activity levels for each parameter were analysed. Additionally, to evaluate the model's applicability in natural water, eight natural water samples from different parts of Spain were analysed. The eight natural water samples were also characterised by alpha spectrometry for the naturally occurring isotopes of uranium (234U, 235U and 238U), radium (224Ra and 226Ra), 210Po and 232Th. The results for gross alpha and 226Ra activity were compared with alpha spectrometry characterization, and an acceptable concordance was obtained.

La resistència liberal de Lleida davant la invasió dels Cent Mil Fills de Sant Lluís

Davant del fracàs de la contrarevolució interior efectuada pels reialistes, a partir pràcticament de l’inici del sistema constitucional inaugurat per la revolució de Riego, els elements més absolutistes van organitzar mitjançant la celebració del Congrés de Verona la invasió del territori espanyol per les tropes franceses (els Cent Mil Fills de Sant Lluís). La reacció de les institucions locals lleidatanes, sobretot la Paeria (l’Ajuntament) no es va fer esperar. Ràpidament van rebutjar ferventment la imposició estrangera i van organitzar la resistència a l’interior de la ciutat. Aquesta resistència va topar amb la penúria econòmica de la hisenda municipal, motiu pel qual van haver de realitzar una guerra defensiva, que va tenir èxit, ja que van resistir la invasió fins a l’últim dia d’octubre de l’any 1823 i es van convertir, juntament amb ciutats com ara Barcelona o Tarragona, en els baluards del liberalisme.

Simultaneous determination of gross alpha, gross beta and Ra-226 in natural water by liquid scintillation counting.

The determination of gross alpha, gross beta and 226Ra activity in natural waters is useful in a wide range of environmental studies. Furthermore, gross alpha and gross beta parameters are included in international legislation on the quality of drinking water [Council Directive 98/83/EC].1 In this work, a low-background liquid scintillation counter (Wallac, Quantulus 1220) was used to simultaneously determine gross alpha, gross beta and 226Ra activity in natural water samples. Sample preparation involved evaporation to remove 222Rn and its short-lived decay daughters. The evaporation process concentrated the sample ten-fold. Afterwards, a sample aliquot of 8 mL was mixed with 12 mL of Ultima Gold AB scintillation cocktail in low-diffusion vials. In this study, a theoretical mathematical model based on secular equilibrium conditions between 226Ra and its short-lived decay daughters is presented. The proposed model makes it possible to determine 226Ra activity from two measurements. These measurements also allow determining gross alpha and gross beta simultaneously. To validate the proposed model, spiked samples with different activity levels for each parameter were analysed. Additionally, to evaluate the model's applicability in natural water, eight natural water samples from different parts of Spain were analysed. The eight natural water samples were also characterised by alpha spectrometry for the naturally occurring isotopes of uranium (234U, 235U and 238U), radium (224Ra and 226Ra), 210Po and 232Th. The results for gross alpha and 226Ra activity were compared with alpha spectrometry characterization, and an acceptable concordance was obtained.

The effect on lower spine muscle activation of walking on a narrow beam in virtual reality

To what extent do people behave in immersive virtual environments as they would in similar situations in a physical environment? There are many ways to address this question, ranging from questionnaires, behavioral studies, and the use of physiological measures. Here, we compare the onsets of muscle activity using surface electromyography (EMG) while participants were walking under three different conditions: on a normal floor surface, on a narrow ribbon along the floor, and on a narrow platform raised off the floor. The same situation was rendered in an immersive virtual environment (IVE) Cave-like system, and 12 participants did the three types of walking in a counter-balanced within-groups design. The mean number of EMG activity onsets per unit time followed the same pattern in the virtual environment as in the physical environment-significantly higher for walking on the platform compared to walking on the floor. Even though participants knew that they were in fact really walking at floor level in the virtual environment condition, the visual illusion of walking on a raised platform was sufficient to influence their behavior in a measurable way. This opens up the door for this technique to be used in gait and posture related scenarios including rehabilitation.

Negative feedback regulation of calcineurin-dependent Prz1 transcription factor by the CaMKK-CaMK1 axis in fission yeast

Calcium signals trigger the translocation of the Prz1 transcription factor from the cytoplasm to the nucleus. The process is regulated by the calciumactivated phosphatase calcineurin, which activates Prz1 thereby maintaining active transcription during calcium signalling. When calcium signalling ceases, Prz1 is inactivated by phosphorylation and exported to the cytoplasm. In budding yeast and mammalian cells, different kinases have been reported to counter calcineurin activity and regulate nuclear export. Here, we show that the Ca2+/calmodulin-dependent kinase Cmk1 is first phosphorylated and activated by the newly identified kinase CaMKK2 homologue, Ckk2, in response to Ca2+. Then, active Cmk1 binds, phosphorylates and inactivates Prz1 transcription activity whilst at the same time cmk1 expression is enhanced by Prz1 in response to Ca2+. Furthermore, Cdc25 phosphatase is also phosphorylated by Cmk1, inducing cell cycle arrest in response to an increase in Ca2+. Moreover, cmk1 deletion shows a high tolerance to chronic exposure to Ca2+, due to the lack of cell cycle inhibition and elevated Prz1 activity. This work reveals that Cmk1 kinase activated by the newly identified Ckk2 counteracts calcineurin function by negatively regulating Prz1 activity which in turn is involved in activating cmk1 gene transcription. These results are the first insights into Cmk1 and Ckk2 function in Schizosaccharomyces pombe.