Public and private learning from prices, strategic substitutability and complementarity, and equilibrium multiplicity

We study a general static noisy rational expectations model where investors have private information about asset payoffs, with common and private components, and about their own exposure to an aggregate risk factor, and derive conditions for existence and uniqueness (or multiplicity) of equilibria. We find that a main driver of the characterization of equilibria is whether the actions of investors are strategic substitutes or complements. This latter property in turn is driven by the strength of a private learning channel from prices, arising from the multidimensional sources of asymmetric information, in relation to the usual public learning channel. When the private learning channel is strong (weak) in relation to the public we have strong (weak) strategic complementarity in actions and potentially multiple (unique) equilibria. The results enable a precise characterization of whether information acquisition decisions are strategic substitutes or complements. We find that the strategic substitutability in information acquisition result obtained in Grossman and Stiglitz (1980) is robust. JEL Classification: D82, D83, G14 Keywords: Rational expectations equilibrium, asymmetric information, risk exposure, hedging, supply information, information acquisition.

Teaching foreign languages through translation: considering multiple intelligences

Aquest treball de recerca tracta de la relació existent entre pedagogia, traducció, llengües estrangeres i intel•ligències múltiples. El debat sobre si la traducció és una eina útil a la classe de llengües estrangeres és un tema actual sobre el qual molts investigadors encara indaguen. Estudis recents, però, han demostrat que qualsevol tasca de traducció -en la qual s’hi poden incloure treballs amb les diferents habilitats- és profitosa si la considerem un mitjà, no una finalitat en ella mateixa. Evidentment, l’ús de la traducció dins l’aula és avantatjosa, però també hem de tenir presents certs desavantatges d’aquesta aplicació. Un possible desavantatge podria ser la creença que, al principi, molta gent té referent a l’equivalència, paraula per paraula, d’una llengua vers una altra. Però després de presentar vàries tasques de traducció als estudiants, aquests poden arribar a controlar, fins i tot, les traduccions inconscients i poden assolir un cert nivell de precisió i flexibilitat que val la pena mencionar. Però l’avantatge principal és que s’enfronten a una activitat molt estesa dins la societat actual que combina dues llengües, la llengua materna i la llengua objecte d’estudi, per exemple. De tot això en podem deduir que utilitzar la llengua materna a la classe no s’ha de considerar un crim, com fins ara, sinó una virtut, evidentment si és emprada correctament. En aquest treball de recerca s’hi pot trobar una síntesi tant de les principals teories d’adquisició i aprenentatge de llengües com de les teories de traducció. A la pregunta de si les teories, tant de traducció com de llengües estrangeres, s’haurien d’ensenyar implícita o explícitament, es pot inferir que segons el nivell d’estudis on estiguin els aprenents els convindrà aprendre les teories explícitament o les aprendran, de totes maneres, implícitament. Com que qualsevol grup d’estudiants és heterogeni -és a dir que cada individu té un ritme i un nivell d’aprenentatge concret i sobretot cadascú té diferents estils de percepció (visual, auditiu, gustatiu, olfactiu, de moviment) i per tant diferents intel•ligències-, els professors ho han de tenir en compte a l’hora de planificar qualsevol programa d’actuació vers els alumnes. Per tant, podem concloure que les tasques o projectes de traducció poden ajudar als alumnes a aprendre millor, més eficaçment i a aconseguir un aprenentatge més significatiu.

AgShare : Building Community and Content with Multiple Partners

Michigan State University and OER Africa are creating a win-win collaboration of existing organizations for African publishing, localizing, and sharing of teaching and learning materials that fill critical resource gaps in African MSc agriculture curriculum. By the end of the 18-month planning and pilot initiative, African agriculture universities, faculty, students, researchers, NGO leaders, extension staff, and farmers will participate in building AgShare by demonstrating its benefits and outcomes and by building momentum and support for growth.

Cambios en el uso y la concepción de las TIC, implementando el Mobile Learning.

This research analyses the actual use and conception of the ICT mobility that a life long learning group of students have. The students have participated in a Mobile Learning experience along an online postgraduate course, which was designed under a traditional e-learning perspective. The students received a tablet PC (iPad) in order to work at the course and also to use it in their personal and professional life. A complete and original pre-test / post-test questionnaire was applied before and after the course. This instrument was scientifically validated. Thru the questionnaire, uses tendency and students perceptions were studied. Frequencies, purposes, habits of use and valuation, as well as the device"s integration into their personal, social and professional life were studied. The analysis intents to apply the 'Social Technographics Profile" by Bernoff (2010) to classify, by profile groups, the users of the actual Internet. Finally a reflexion of the reasons and limits of the theory, in this study, and also the relation to reality is presented. The Inter-coding reliability and validity shows the possibility of applying the instrument on wider samples in order to get a closer look to the uses and actual conceptions of the ubiquitous ICTs.

Service Learning Questionnaire

This questionnaire aims to evaluate your experience of taking part in the project you are carrying out at the university. The questionnaire is anonymous and will not take more than 10 minutes of your time to complete. We would appreciate your honest opinion, in order that the data we gather here can be as useful as possible for improving the project.

Service Learning Questionnaire

This questionnaire aims to evaluate your experience of taking part in the project you are carrying out at the university. The questionnaire is anonymous and will not take more than 10 minutes of your time to complete. We would appreciate your honest opinion, in order that the data we gather here can be as useful as possible for improving the project.

Service Learning Questionnaire

This questionnaire aims to evaluate your experience of taking part in the project you are carrying out at the university. The questionnaire is anonymous and will not take more than 10 minutes of your time to complete. We would appreciate your honest opinion, in order that the data we gather here can be as useful as possible for improving the project.

Service Learning Questionnaire

This questionnaire aims to evaluate your experience of taking part in the project you are carrying out at the university. The questionnaire is anonymous and will not take more than 10 minutes of your time to complete. We would appreciate your honest opinion, in order that the data we gather here can be as useful as possible for improving the project.

Spatial filtering for pilot-aided WCDMA systems: a semi-blind subspace approach

This paper proposes a spatial filtering technique forthe reception of pilot-aided multirate multicode direct-sequencecode division multiple access (DS/CDMA) systems such as widebandCDMA (WCDMA). These systems introduce a code-multiplexedpilot sequence that can be used for the estimation of thefilter weights, but the presence of the traffic signal (transmittedat the same time as the pilot sequence) corrupts that estimationand degrades the performance of the filter significantly. This iscaused by the fact that although the traffic and pilot signals areusually designed to be orthogonal, the frequency selectivity of thechannel degrades this orthogonality at hte receiving end. Here,we propose a semi-blind technique that eliminates the self-noisecaused by the code-multiplexing of the pilot. We derive analyticallythe asymptotic performance of both the training-only andthe semi-blind techniques and compare them with the actual simulatedperformance. It is shown, both analytically and via simulation,that high gains can be achieved with respect to training-onlybasedtechniques.