Revealed preference and indifferent selection

It is shown that preferences can be constructed from observed choice behavior in a way that is robust to indifferent selection (i.e., the agent is indifferent between two alternatives but, nevertheless, is only observed selecting one of them). More precisely, a suggestion by Savage (1954) to reveal indifferent selection by considering small monetary perturbations of alternatives is formalized and generalized to a purely topological framework: references over an arbitrary topological space can be uniquely derived from observed behavior under the assumptions that they are continuous and nonsatiated and that a strictly preferred alternative is always chosen, and indifferent selection is then characterized by discontinuity in choice behavior. Two particular cases are then analyzed: monotonic preferences over a partially ordered set, and preferences representable by a continuous pseudo-utility function.

Adjustment to target capital, finance and growth

Does financial development result in capital being reallocated more rapidly to industries where it is most productive? We argue that if this was the case, financially developed countries should see faster growth in industries with investment opportunities due to global demand and productivity shifts. Testing this cross-industry cross-country growth implication requires proxies for (latent) global industry investment opportunities. We show that tests relying only on data from specific (benchmark) countries may yield spurious evidence for or against the hypothesis. We therefore develop an alternative approach that combines benchmark-country proxies with a proxy that does not reflect opportunities specific to a country or level of financial development. Our empirical results yield clear support for the capital reallocation hypothesis.

A model of collateral, investment and adverse selection

This paper characterizes the relationship between entrepreneurial wealth and aggregate investmentunder adverse selection. Its main finding is that such a relationship need not bemonotonic. In particular, three results emerge from the analysis: (i) pooling equilibria, in whichinvestment is independent of entrepreneurial wealth, are more likely to arise when entrepreneurialwealth is relatively low; (ii) separating equilibria, in which investment is increasing inentrepreneurial wealth, are most likely to arise when entrepreneurial wealth is relatively highand; (iii) for a given interest rate, an increase in entrepreneurial wealth may generate a discontinuousfall in investment.

Which inflation to target? A small open economy with sticky wages indexed to past inflation

In a closed economy context there is common agreement on price inflation stabilization being one of the objects of monetary policy. Moving to an open economy context gives rise to the coexistence of two measures of inflation: domestic inflation (DI) and consumer price inflation (CPI). Which one of the two measures should be the target variable? This is the question addressed in this paper. In particular, I use a small open economy model to show that once sticky wages indexed to past CPI inflation are introduced, a complete inward looking monetary policy is no more optimal. I first, derive a loss function from a secondorder approximation of the utility function and then, I compute the fully optimalmonetary policy under commitment. Then, I use the optimal monetary policy as a benchmark to compare the performance of different monetary policy rules. The main result is that once a positive degree of indexation is introduced in the model the rule performing better (among the Taylor type rules considered) is the one targeting wage inflation and CPI inflation. Moreover this rule delivers results very close to the one obtained under the fully optimal monetary policy with commitment.

Model selection and error estimation

We study model selection strategies based on penalized empirical loss minimization. We point out a tight relationship between error estimation and data-based complexity penalization: any good error estimate may be converted into a data-based penalty function and the performance of the estimate is governed by the quality of the error estimate. We consider several penalty functions, involving error estimates on independent test data, empirical {\sc vc} dimension, empirical {\sc vc} entropy, andmargin-based quantities. We also consider the maximal difference between the error on the first half of the training data and the second half, and the expected maximal discrepancy, a closely related capacity estimate that can be calculated by Monte Carlo integration. Maximal discrepancy penalty functions are appealing for pattern classification problems, since their computation is equivalent to empirical risk minimization over the training data with some labels flipped.

Revised NEO personality inventory normative data for catalan police officer selection: preliminary study

El Servei d'Avaluació, Seguiment i Selecció de l'ISPC han elaborat un estudi sobre el perfil de personalitat dels aspirants al Curs de Formació bàsica per policies, que es va presentar a l'International Society for the Study of Individual Differences Meeting celebrat al CosmoCaixa de Barcelona i que organitzen conjuntament l’Associació Iberoamericana per a la recerca de les diferències individuals i la Universitat de Barcelona. L’estudi, titulat Revised NEO Personality Inventory Normative Data for Catalan police officer selection: A preliminary study, té com a objectiu comparar els perfils de personalitat d’una mostra d’aspirants de l’ISPC amb els resultats d’una mostra d’aspirants a policia dels EUA, publicada en una revista científica de prestigi el mes de febrer passat. Els resultats mostren que els aspirants catalans destaquen per obtenir millors puntuacions en les dimensions de responsabilitat i amabilitat, cosa que indicaria que aquest tret es valora especialment durant el procés de selecció de la policia de Catalunya; en altres característiques de la personalitat les dues mostres obtenen resultats similars. Els trets característics del perfil del policia català seria el de persones estables emocionalment, poc impulsives, amb capacitat per gestionar l’estrés, orientades a les persones, agradables, sociables, responsables, disciplinades i cauteloses. Enllaç a: International Society for the Study of Individual Differences Meeting :http://www.issid.org/conferences/ISSID2013/ISSIDconference2013.html

Photometric and Spectroscopic Observations of the Cluster of Galaxies Abell 2390

Spectroscopic and photometric observations in a 6 arcmin x 6 arcmin field centered on the rich cluster of galaxies Abell 2390 are presented. The photometry concerns 700 objects and the spectroscopy 72 objects. The redshift survey shows that the mean redshift of the cluster is 0.232. An original method for automatic determination of the spectral type of galaxies is presented.

Photometric and spectroscopic survey of the cluster of galaxies Abell A2218

We present new photometric and spectroscopic observations of objects in the field of the cluster of galaxies Abell 2218. The photometric survey, centered on the cluster core, extends to a field of about 4 x 4 arcmin. It was performed in 5 bands (B,g,r,i and z filters). This sample, which includes 729 objects, is about three times larger than the survey made by Butcher and collaborators (Butcher et al., 1983, Butcher and Oemler, 1984) in the same central region of the field. Only 228 objects appear in both catalogues since our survey covers a smaller region. The spectral range covered by our filters is wider and the photometry is much deeper, up to magnitude 27 in r. The spectroscopic survey concerns 66 objects, on a field comparable to that of Butcher and collaborators. From our observations we calculate the mean redshift of the cluster, 0.1756, and its velocity dispersion, 1370 km/s. The spectral types are determined for many galaxies in the sample by comparing their spectra with synthetic ones from Rocca-Volmerange and Guiderdoni (1988).

Habitat selection by grey mullets (Osteichthyes: Mugilidae) in Mediterranean estuaries: the role of salinity.

A stratified study of microhabitat use by grey mullet on the island of Minorca (Balearic archipelago, western Mediterranean) showed that the distribution of all the species was dramatically affected by salinity. Sites with a salinity level under 15 were positively selected in spring and summer by those species whose growth performance was the best in oligomesohaline water (Liza ramado and Mugil cephalus) but also by a species whose growth was not affected by salinity (Chelon labrosus). Liza aurata concentrated in polyhaline and euhaline sites, where growth was improved, a pattern also exhibited by Liza saliens. Both species avoided fresh water sites all year round. As a consequence, community structure was correlated with salinity. The above reported electivity patterns often disappeared in autumn, when most grey mullets migrate off-shore.

Fine-Tuning Translation Kinetics Selection as the Driving Force of Codon Usage Bias in the Hepatitis A Virus Capsid

Hepatitis A virus (HAV), the prototype of genus Hepatovirus, has several unique biological characteristics that distinguish it from other members of the Picornaviridae family. Among these, the need for an intact eIF4G factor for the initiation of translation results in an inability to shut down host protein synthesis by a mechanism similar to that of other picornaviruses. Consequently, HAV must inefficiently compete for the cellular translational machinery and this may explain its poor growth in cell culture. In this context of virus/cell competition, HAV has strategically adopted a naturally highly deoptimized codon usage with respect to that of its cellular host. With the aim to optimize its codon usage the virus was adapted to propagate in cells with impaired protein synthesis, in order to make tRNA pools more available for the virus. A significant loss of fitness was the immediate response to the adaptation process that was, however, later on recovered and more associated to a re-deoptimization rather than to an optimization of the codon usage specifically in the capsid coding region. These results exclude translation selection and instead suggest fine-tuning translation kinetics selection as the underlying mechanism of the codon usage bias in this specific genome region. Additionally, the results provide clear evidence of the Red Queen dynamics of evolution since the virus has very much evolved to re-adapt its codon usage to the environmental cellular changing conditions in order to recover the original fitness.

Fsp27/CIDEC is a CREB target gene induced during early fasting in liver and regulated by FA oxidation rate

FSP27 (CIDEC in humans) is a protein associated with lipid droplets that downregulates the fatty acid oxidation (FAO) rate when it is overexpressed. However, little is known about its physiological role in liver. Here, we show that fasting regulates liver expression of Fsp27 in a time-dependent manner. Thus, during the initial stages of fasting a maximal induction of 800-fold was achieved, while during the later phase of fasting, Fsp27 expression decreased. The early response to fasting can be explained by a canonical PKA-CREB-CRTC2 signaling pathway since: i) CIDEC expression was induced by forskolin, ii) Fsp27 promoter activity was increased by CREB, and iii) Fsp27 expression was upregulated in the liver of Sirt1 knockout animals. Interestingly, pharmacological (etomoxir) or genetic (Hmgcs2 interference) inhibition of the FAO rate increases the in vivo expression of Fsp27 during fasting. Similarly, CIDEC expression was upregulated in HepG2 cells by either etomoxir or HMGCS2 interference. Our data indicate that there is a kinetic mechanism of auto-regulation between short- and long-term fasting, by which free fatty acids delivered to the liver during early fasting are accumulated/exported by FSP27/CIDEC, while over longer periods of fasting they are degraded in the mitochondria through the carnitine palmitoyl transferase (CPT) system.

Ba3Yb(BO3)3 single crystals. Growth and spectroscopic characterization

We obtained Ba3Yb(BO3)3 single crystals by the flux method with solutions of the BaB2O4Na2OYb2O3 system. The evolution of the cell parameters with temperature shows a slope change at temperatures near 873 K, which may indicate a phase transition that is not observed by changes appearing in the x-ray powder patterns or by differential thermal analysis (DTA). The evolution of the diffraction patterns with the temperature shows incongruent melting at temperatures higher than 1473 K. DTA indicates that there is incongruent melting and this process is irreversible. Ba3Yb(BO3)3 has a wide transparency window from 247 to 3900 nm. We recorded optical absorption and emission spectra at room and low temperature, and we determined the splitting of Yb3+ ions. We used the reciprocity method to calculate the maximum emission cross section of 0.28 10-20 cm2 at 966 nm. The calculated lifetime of Yb3+ in Ba3Yb(BO3)3 is trad = 2.62 ms, while the measured lifetime is t = 3.80 ms.

Comment on "Selection of the Saffman-Taylor finger width in the absence of surface tension: an exact result"

A Comment on the Letter by Mark Mineev-Weinstein, Phys. Rev. Lett. 80, 2113 (1998). The authors of the Letter offer a Reply.

Selection, shape and relaxation of fronts: A numerical study of the effects of inertia.

We study the problem of front propagation in the presence of inertia. We extend the analytical approach for the overdamped problem to this case, and present numerical results to support our theoretical predictions. Specifically, we conclude that the velocity and shape selection problem can still be described in terms of the metastable, nonlinear, and linear overdamped regimes. We study the characteristic relaxation dynamics of these three regimes, and the existence of degenerate (¿quenched¿) solutions.