Pensions and procrastination : how can employers help their employees save for the future?

In this paper I show that employees tend to procrastinate when they are expected to decide whether or not they would like to save using the defined contribution pension scheme offered by their employer. By auto-enrolling the employees or asking them to decide before a given deadline, employers can mitigate some of the problems caused by employee procrastination. However both of these mechanisms present their own problems, caused by default stickiness and other issues, so I discuss how employers can decide which is the right mechanism to use depending on the characteristics of their employees, and how to minimize the problems these mechanisms can cause.

The Price of luck

We find that the vast majority of students taking an advanced undergraduate finance course show a preference for luck in a classroom experiment. In Phase I of the experiment part of the students, group A, were asked to guess a coin toss five times in a row. In Phase II the rest of the students, group B, were given 10 EUR to bet on some of the Group A students taking a second go at guessing a sequence of five coin tosses (Phase III). Group B students’ bets were by default allocated to the worse performing student in Phase I. Switching to better performing Group A students was costly. A total of 23 out of 28 students were willing to pay for switching and thus showed a preference for luck.

Brain functional abnormality in schizo-affective disorder: an fMRI study.

Background.Schizo-affective disorder has not been studied to any significant extent using functional imaging. The aim of this study was to examine patterns of brain activation and deactivation in patients meeting strict diagnostic criteria for the disorder. METHOD: Thirty-two patients meeting research diagnostic criteria (RDC) for schizo-affective disorder (16 schizomanic and 16 schizodepressive) and 32 matched healthy controls underwent functional magnetic resonance imaging (fMRI) during performance of the n-back task. Linear models were used to obtain maps of activations and deactivations in the groups. RESULTS: Controls showed activation in a network of frontal and other areas and also deactivation in the medial frontal cortex, the precuneus and the parietal cortex. Schizo-affective patients activated significantly less in prefrontal, parietal and temporal regions than the controls, and also showed failure of deactivation in the medial frontal cortex. When task performance was controlled for, the reduced activation in the dorsolateral prefrontal cortex (DLPFC) and the failure of deactivation of the medial frontal cortex remained significant. CONCLUSIONS: Schizo-affective disorder shows a similar pattern of reduced frontal activation to schizophrenia. The disorder is also characterized by failure of deactivation suggestive of default mode network dysfunction.

Brain functional abnormality in schizo-affective disorder: an fMRI study.

Background.Schizo-affective disorder has not been studied to any significant extent using functional imaging. The aim of this study was to examine patterns of brain activation and deactivation in patients meeting strict diagnostic criteria for the disorder. METHOD: Thirty-two patients meeting research diagnostic criteria (RDC) for schizo-affective disorder (16 schizomanic and 16 schizodepressive) and 32 matched healthy controls underwent functional magnetic resonance imaging (fMRI) during performance of the n-back task. Linear models were used to obtain maps of activations and deactivations in the groups. RESULTS: Controls showed activation in a network of frontal and other areas and also deactivation in the medial frontal cortex, the precuneus and the parietal cortex. Schizo-affective patients activated significantly less in prefrontal, parietal and temporal regions than the controls, and also showed failure of deactivation in the medial frontal cortex. When task performance was controlled for, the reduced activation in the dorsolateral prefrontal cortex (DLPFC) and the failure of deactivation of the medial frontal cortex remained significant. CONCLUSIONS: Schizo-affective disorder shows a similar pattern of reduced frontal activation to schizophrenia. The disorder is also characterized by failure of deactivation suggestive of default mode network dysfunction.

Brain functional abnormality in schizo-affective disorder: an fMRI study.

Background.Schizo-affective disorder has not been studied to any significant extent using functional imaging. The aim of this study was to examine patterns of brain activation and deactivation in patients meeting strict diagnostic criteria for the disorder. METHOD: Thirty-two patients meeting research diagnostic criteria (RDC) for schizo-affective disorder (16 schizomanic and 16 schizodepressive) and 32 matched healthy controls underwent functional magnetic resonance imaging (fMRI) during performance of the n-back task. Linear models were used to obtain maps of activations and deactivations in the groups. RESULTS: Controls showed activation in a network of frontal and other areas and also deactivation in the medial frontal cortex, the precuneus and the parietal cortex. Schizo-affective patients activated significantly less in prefrontal, parietal and temporal regions than the controls, and also showed failure of deactivation in the medial frontal cortex. When task performance was controlled for, the reduced activation in the dorsolateral prefrontal cortex (DLPFC) and the failure of deactivation of the medial frontal cortex remained significant. CONCLUSIONS: Schizo-affective disorder shows a similar pattern of reduced frontal activation to schizophrenia. The disorder is also characterized by failure of deactivation suggestive of default mode network dysfunction.

Analysing Professional Discourse in Interactive Learning: Integrating Historical and Situational Perspectives

Peer-reviewed

JPEG standard uniform quantization error modeling with applications to sequential and progressive operation modes

In this paper we propose a method for computing JPEG quantization matrices for a given mean square error or PSNR. Then, we employ our method to compute JPEG standard progressive operation mode definition scripts using a quantization approach. Therefore, it is no longer necessary to use a trial and error procedure to obtain a desired PSNR and/or definition script, reducing cost. Firstly, we establish a relationship between a Laplacian source and its uniform quantization error. We apply this model to the coefficients obtained in the discrete cosine transform stage of the JPEG standard. Then, an image may be compressed using the JPEG standard under a global MSE (or PSNR) constraint and a set of local constraints determined by the JPEG standard and visual criteria. Secondly, we study the JPEG standard progressive operation mode from a quantization based approach. A relationship between the measured image quality at a given stage of the coding process and a quantization matrix is found. Thus, the definition script construction problem can be reduced to a quantization problem. Simulations show that our method generates better quantization matrices than the classical method based on scaling the JPEG default quantization matrix. The estimation of PSNR has usually an error smaller than 1 dB. This figure decreases for high PSNR values. Definition scripts may be generated avoiding an excessive number of stages and removing small stages that do not contribute during the decoding process with a noticeable image quality improvement.

Security analysis of JXME-Proxyless version

JXME es la especificación de JXTA para dispositivos móviles con J2ME. Hay dos versiones diferentes de la aplicación JXME disponibles, cada una específica para un determinado conjunto de dispositivos, de acuerdo con sus capacidades. El principal valor de JXME es su simplicidad para crear peer-to-peer (P2P) en dispositivos limitados. Además de evaluar las funciones JXME, también es importante tener en cuenta el nivel de seguridad por defecto que se proporciona. Este artículo presenta un breve análisis de la situación actual de la seguridad en JXME, centrándose en la versión JXME-Proxyless, identifica las vulnerabilidades existentes y propone mejoras en este campo.

JXTA security in mobile constrained devices

JXME is the JXTA protocols implementation formobile devices using J2ME. Two different flavors of JXME have been implemented, each one specific for a particular set of devices, according to their capabilities. The main value of JXME is its simplicity to create peer-to-peer (P2P) applications in limited devices. In addition to assessing JXME functionalities, it is also important to realize the default security level provided. This paper presents a brief analysis of the current state of security in JXME, focusing on the JXME-Proxied version, identifies existing vulnerabilities and proposes further improvements in this field.

Contracting with free software communities

Industry and large Agencies needs ¿agile¿ programming resources, to reinforce their own development staff and take advantage of innovative approaches produced by ¿fresh minds¿ all over the world. At the same time they may be reluctant to engage in classical software development call for tenders and contracts. Such contracts are often ¿trusted¿ by large ICT firms, which will deliver according to their own rigid frameworks (often based on alliances with proprietary software vendors), may propose comfortable quality assurances, but will cover their (real) risks and liability with high contingency costs and will charge for any change request in case the original specifications have not fixed all possible issues. Introducing FLOSS in business implies a new contracting philosophy, based on incentives rather than penalties and liability. Based on 2011 experience with a large Space Agency, Patrice-Emmanuel Schmitz pictures the needed legal instruments for a novel approach.

Recargos e intereses en la nueva Ley General Tributaria

El presente comentario tiene por objeto ofrecer un esquema general a través del cual se muestre el juego de recargos, intereses y sanciones que se derivan del incumplimiento de las obligaciones formales y/o materiales del tributo, atendiendo al período de tiempo en el que se produzcan.

T-Coffee: a web server for the multiple sequence alignment of protein and RNA sequences using structural information and homology extension

This article introduces a new interface for T-Coffee, a consistency-based multiple sequence alignment program. This interface provides an easy and intuitive access to the most popular functionality of the package. These include the default T-Coffee mode for protein and nucleic acid sequences, the M-Coffee mode that allows combining the output of any other aligners, and template-based modes of T-Coffee that deliver high accuracy alignments while using structural or homology derived templates. These three available template modes are Expresso for the alignment of protein with a known 3D-Structure, R-Coffee to align RNA sequences with conserved secondary structures and PSI-Coffee to accurately align distantly related sequences using homology extension. The new server benefits from recent improvements of the T-Coffee algorithm and can align up to 150 sequences as long as 10 000 residues and is available from both http://www.tcoffee.org and its main mirror http://tcoffee.crg.cat.

Cartografía de la actividad erosiva de paredes de barrancos a partir de imágenes de teledetección

El presente trabajo muestra una metodología para la determinación del grado de actividad erosiva de paredes de barrancos, fenómenos erosivos muy frecuentes en el área Mediterránea. La metodología se basa en la identificación del tipo de cubierta vegetal y grado de recubrimiento de las paredes a partir de imágenes multiespectrales de resolución media (Landsat TM). El área de estudio se localiza en las comarcas de l'Alt Penedes y l'Anoia (Barcelona), donde el principal cultivo son los viñedos. En esta región se ha desarrollado una red de barrancos de grandes dimensiones. Los resultados, según la metodología aplicada, indican que la mayor parte de las paredes de los barrancos presentan un alto grado de estabilidad debido a que mayoritariamente están cubiertas por vegetación de tipo matorral arbolado y bosque mixto. Sin embargo, los procesos erosivos detectados mediante observaciones de campo indican que la determinación del grado de actividad erosiva a partir de imágenes de resolución media produce resultados por defecto.

Optimal capital structure: a trade-off model and its empirical testing

In the present research we have set forth a new, simple, Trade-Off model that would allow us to calculate how much debt and, by default, how much equity a company should have, using easily available information and calculating the cost of debt dynamically on the basis of the effect that the capital structure of the company has on the risk of bankruptcy; in an attempt to answer this question. The proposed model has been applied to the companies that make up the Dow Jones Industrial Average (DJIA) in 2007. We have used consolidated financial data from 1996 to 2006, published by Bloomberg. We have used simplex optimization method to find the debt level that maximizes firm value. Then, we compare the estimated debt with real debt of companies using statistical nonparametric Mann-Whitney. The results indicate that 63% of companies do not show a statistically significant difference between the real and the estimated debt.