Time and the price impact of a trade

We use Hasbrouck's (1991) vector autoregressive model for prices and trades to empirically test and assess the role played by the waiting time between consecutive transactions in the process of price formation. We find that as the time duration between transactions decreases, the price impact of trades, the speed of price adjustment to trade‐related information, and the positive autocorrelation of signed trades all increase. This suggests that times when markets are most active are times when there is an increased presence of informed traders; we interpret such markets as having reduced liquidity.

Categories, concepts and units: representing energy demand in and through time

Methods of data collection are unavoidably rooted in some sort of theoretical paradigm, and are inextricably tied to an implicit agenda or broad problem framing. These prior orientations are not always explicit, but they matter for what data is collected and how it is used. They also structure opportunities for asking new questions, for linking or bridging between existing data sets and they matter even more when data is re-purposed for uses not initially anticipated. In this paper we provide an historical and comparative review of the changing categories used in organising and collecting data on mobility/travel and time use as part of ongoing work to understand, conceptualise and describe the changing patterns of domestic and mobility related energy demand within UK society. This exercise reveals systematic differences of method and approach, for instance in units of measurement, in how issues of time/duration and periodicity are handled, and how these strategies relate to the questions such data is routinely used to address. It also points to more fundamental differences in how traditions of research into mobility, domestic energy and time use have developed. We end with a discussion of the practical implications of these diverse histories for understanding and analysing changing patterns of energy/mobility demand at different scales.

Perspex machine

We introduce the perspex machine which unifies projective geometry and the Turing machine, resulting in a supra-Turing machine. Specifically, we show that a Universal Register Machine (URM) can be implemented as a conditional series of whole numbered projective transformations. This leads naturally to a suggestion that it might be possible to construct a perspex machine as a series of pin-holes and stops. A rough calculation shows that an ultraviolet perspex machine might operate up to the petahertz range of operations per second. Surprisingly, we find that perspex space is irreversible in time, which might make it a candidate for an anisotropic spacetime geometry in physical theories. We make a bold hypothesis that the apparent irreversibility of physical time is due to the random nature of quantum events, but suggest that a sum over histories might be achieved by sampling fluctuations in the direction of time flow. We propose an experiment, based on the Casimir apparatus, that should measure fluctuations of time flow with respect to time duration- if such fluctuations exist.

The effect of Parkinson's disease on time estimation as a function of stimulus duration range and modality

The present research sought to investigate the role of the basal ganglia in timing of sub- and supra-second intervals via an examination of the ability of people with Parkinson's disease (PD) to make temporal judgments in two ranges, 100-500 ms, and 1-5 s. Eighteen nondemented medicated patients with PD were compared with 14 matched controls on a duration-bisection task in which participants were required to discriminate auditory and visual signal durations within each time range. Results showed that patients with PD exhibited more variable duration judgments across both signal modality and duration range than controls, although closer analyses confirmed a timing deficit in the longer duration range only. The findings presented here suggest the bisection procedure may be a useful tool in identifying timing impairments in PD and, more generally, reaffirm the hypothesised role of the basal ganglia in temporal perception at the level of the attentionally mediated internal clock as well as memory retrieval and/or decision-making processes. (c) 2007 Elsevier Inc. All rights reserved.

The influence of time on lead toxicity and bioaccumulation determined by the OECD earthworm toxicity test

Internationally agreed standard protocols for assessing chemical toxicity of contaminants in soil to worms assume that the test soil does not need to equilibrate with the chemical to be tested prior to the addition of the test organisms and that the chemical will exert any toxic effect upon the test organism within 28 days. Three experiments were carried out to investigate these assumptions. The first experiment was a standard toxicity test where lead nitrate was added to a soil in solution to give a range of concentrations. The mortality of the worms and the concentration of lead in the survivors were determined. The LC(50)s for 14 and 28 days were 5311 and 5395 mug(Pb) g(soil)(-1) respectively. The second experiment was a timed lead accumulation study with worms cultivated in soil containing either 3000 or 5000 mug(Pb) g(soil)(-1). The concentration of lead in the worms was determined at various sampling times. Uptake at so' Sol both concentrations was linear with time. Worms in the 5000 mug g(-1) soil accumulated lead at a faster rate (3.16 mug Pb g(tissue)(-1) day(-1)) tiss than those in the 3000 mug g(-1) soil (2.21 mug Pb-tissue g(-1) day(-1)). The third experiment was a timed experiment with worms cultivated in tiss soil containing 7000 mugPb g(soil)(-1). Soil and lead nitrate solution were mixed and stored at 20 degreesC. Worms were added at various times over a 35-day period. The time to death increased from 23 h, when worms were added directly after the lead was added to the soil, to 67 It when worms were added after the soil had equilibrated with the lead for 35 days. In artificially Pb-amended soils the worms accumulate Pb over the duration of their exposure to the Pb. Thus time limited toxicity tests may be terminated before worm body load has reached a toxic level. This could result in under-estimates of the toxicity of Pb to worms. As the equilibration time of artificially amended Pb-bearing soils increases the bioavailability of Pb decreases. Thus addition of worms shortly after addition of Pb to soils may result in the over-estimate of Pb toxicity to worms. The current OECD acute worm toxicity test fails to take these two phenomena into account thereby reducing the environmental relevance of the contaminant toxicities it is used to calculate. (C) 2002 Elsevier Science Ltd. All rights reserved.

Climate change and the flowering time of annual crops

Crop production is inherently sensitive to variability in climate. Temperature is a major determinant of the rate of plant development and, under climate change, warmer temperatures that shorten development stages of determinate crops will most probably reduce the yield of a given variety. Earlier crop flowering and maturity have been observed and documented in recent decades, and these are often associated with warmer (spring) temperatures. However, farm management practices have also changed and the attribution of observed changes in phenology to climate change per se is difficult. Increases in atmospheric [CO2] often advance the time of flowering by a few days, but measurements in FACE (free air CO2 enrichment) field-based experiments suggest that elevated [CO2] has little or no effect on the rate of development other than small advances in development associated with a warmer canopy temperature. The rate of development (inverse of the duration from sowing to flowering) is largely determined by responses to temperature and photoperiod, and the effects of temperature and of photoperiod at optimum and suboptimum temperatures can be quantified and predicted. However, responses to temperature, and more particularly photoperiod, at supraoptimal temperature are not well understood. Analysis of a comprehensive data set of time to tassel initiation in maize (Zea mays) with a wide range of photoperiods above and below the optimum suggests that photoperiod modulates the negative effects of temperature above the optimum. A simulation analysis of the effects of prescribed increases in temperature (0-6 degrees C in + 1 degrees C steps) and temperature variability (0% and + 50%) on days to tassel initiation showed that tassel initiation occurs later, and variability was increased, as the temperature exceeds the optimum in models both with and without photoperiod sensitivity. However, the inclusion of photoperiod sensitivity above the optimum temperature resulted in a higher apparent optimum temperature and less variability in the time of tassel initiation. Given the importance of changes in plant development for crop yield under climate change, the effects of photoperiod and temperature on development rates above the optimum temperature clearly merit further research, and some of the knowledge gaps are identified herein.

Duration from vine emergence to flowering suggests a long-day or rate of change of photoperiod response in white yam (Dioscorea rotundata Poir.)

The objective of this study was to quantify the effect of photoperiod on the duration from vine (shoot) emergence to flowering in white or Guinea yam (Dioscorea rotundata). The duration from vine emergence to flowering in two clonal varieties of yam (TDr 131 and TDr 99-9) was recorded at 10 different sowing dates/locations in Nigeria. Durations to flowering varied from 40 to > 88 days. Mean daily temperature and photoperiod between vine emergence and flowering varied from 25 to 27 degrees C and 13.1 to 13.4 h day(-1), respectively. Both clones had similar responses to temperature, with base and optimum temperatures of 12 and 25-27 degrees C, respectively. Thermal durations to flowering were strongly related (r(2) > 0.75-0.83) to absolute photoperiod (h) at vine emergence as well as to rate of change of photoperiod (s day(-1)) at vine emergence. The response to absolute photoperiod suggests that white yams are quantitative LDPs, flowering sooner in long than short days. Yams also flowered earlier when the rate of change of photoperiod was positive but small, or was negative. It is suggested that yams may use a combination of photoperiod and rate of change in order to fine tune flowering time. (c) 2006 Elsevier B.V. All rights reserved.

Duration from vine emergence to flowering suggests a long-day or rate of change of photoperiod response in white yam (Dioscorea rotundata Poir.)

The objective of this study was to quantify the effect of photoperiod on the duration from vine (shoot) emergence to flowering in white or Guinea yam (Dioscorea rotundata). The duration from vine emergence to flowering in two clonal varieties of yam (TDr 131 and TDr 99-9) was recorded at 10 different sowing dates/locations in Nigeria. Durations to flowering varied from 40 to > 88 days. Mean daily temperature and photoperiod between vine emergence and flowering varied from 25 to 27 degrees C and 13.1 to 13.4 h day(-1), respectively. Both clones had similar responses to temperature, with base and optimum temperatures of 12 and 25-27 degrees C, respectively. Thermal durations to flowering were strongly related (r(2) > 0.75-0.83) to absolute photoperiod (h) at vine emergence as well as to rate of change of photoperiod (s day(-1)) at vine emergence. The response to absolute photoperiod suggests that white yams are quantitative LDPs, flowering sooner in long than short days. Yams also flowered earlier when the rate of change of photoperiod was positive but small, or was negative. It is suggested that yams may use a combination of photoperiod and rate of change in order to fine tune flowering time. (c) 2006 Elsevier B.V. All rights reserved.

The effect of carrier substrate, dose rate and time of application on biocontrol efficacy of fungal antagonists against Armillaria root rot of strawberry plants.

In a glasshouse experiment using potted strawberry plants (cv. Cambridge Favourite) as hosts, the effect of selected fungal antagonists grown on 25 or 50 g of mushroom compost containing autoclaved mycelia of Agaricus bisporus, or wheat bran was evaluated against Armillaria mellea. Another glasshouse experiment tested the effect of application time of the antagonists in relation to inoculations with the pathogen. A significant interaction was found between the antagonists, substrates and dose rates. All the plants treated with Chaetomium olivaceum isolate Co on 50 g wheat bran survived until the end of the experiment which lasted 482 days, while none of them survived when this antagonist was added to the roots of the plants on 25 g wheat bran or 25 or 50 g mushroom compost. Dactylium dendroides isolate SP had a similar effect, although with a lower host survival rate of 33.3%. Trichoderma hamatum isolate Tham 1 and T. harzianum isolate Th23 protected 33.3% of the plants when added on 50 g and none when added on 25 g of either substrate, while 66.7% of the plants treated with T. harzianum isolate Th2 on 25 g, or T viride isolate TO on 50 g wheat bran, survived. Application of the antagonists on mushroom compost initially resulted in development of more leaves and healthier plants, but this effect was not sustained. Eventually, plants treated with the antagonists on wheat bran had significantly more leaves and higher health scores. The plants treated with isolate Th2 and inoculated with Armillaria at the same time had a survival rate of 66.7% for the duration of the experiment (475 days), while none of them survived that long when the antagonist and pathogen were applied with an interval of 85 days in either sequence. C. olivaceum isolate Co showed a protective effect only, as 66.7% of the plants survived when they were treated with the antagonist 85 days before inoculation with the pathogen, while none of them survived when the antagonist and pathogen were applied together or the infection preceded protection.

Changing patterns of cognitive-motor interference (CMI) over time during recovery from stroke

Objective: To explore the extent and nature of change in cognitive-motor interference (CMI) among rehabilitating stroke patients who showed dual-task gait decrement at initial assessment. Design: Experimental, with in-subjects, repeated measures design. Setting: Rehabilitation centre for adults with acquired, nonprogressive brain injury. Subjects: Ten patients with unilateral stroke, available for reassessment 1-9 months following their participation in a study of CMI after brain injury. Measures: Median stride duration; mean word generation. Methods: Two x one-minute walking trials, two x one-minute word generation trials, two x one-minute trials of simultaneous walking and word generation; 10-metre walking time; Barthel ADL Scale score. Results: Seven out of ten patients showed reduction over time in dual-task gait decrement. Three out of ten showed reduction in cognitive decrement. Only one showed concomitant reduction in gait and word generation decrement. Conclusion: Extent of CMI during relearning to walk after a stroke reduced over time in the majority of patients. Effects were more evident in improved stride duration than improved cognitive performance. Measures of multiple task performance should be included in assessment for functional recovery.

Continuous prewarping of time for multiuser interactive virtual environments

Dynamic multi-user interactions in a single networked virtual environment suffer from abrupt state transition problems due to communication delays arising from network latency--an action by one user only becoming apparent to another user after the communication delay. This results in a temporal suspension of the environment for the duration of the delay--the virtual world `hangs'--followed by an abrupt jump to make up for the time lost due to the delay so that the current state of the virtual world is displayed. These discontinuities appear unnatural and disconcerting to the users. This paper proposes a novel method of warping times associated with users to ensure that each user views a continuous version of the virtual world, such that no hangs or jumps occur despite other user interactions. Objects passed between users within the environment are parameterized, not by real time, but by a virtual local time, generated by continuously warping real time. This virtual time periodically realigns itself with real time as the virtual environment evolves. The concept of a local user dynamically warping the local time is also introduced. As a result, the users are shielded from viewing discontinuities within their virtual worlds, consequently enhancing the realism of the virtual environment.

Impact of duration thresholds on Atlantic tropical cyclone counts*

Records of Atlantic basin tropical cyclones (TCs) since the late nineteenth century indicate a very large upward trend in storm frequency. This increase in documented TCs has been previously interpreted as resulting from anthropogenic climate change. However, improvements in observing and recording practices provide an alternative interpretation for these changes: recent studies suggest that the number of potentially missed TCs is sufficient to explain a large part of the recorded increase in TC counts. This study explores the influence of another factor—TC duration���on observed changes in TC frequency, using a widely used Atlantic hurricane database (HURDAT). It is found that the occurrence of short-lived storms (duration of 2 days or less) in the database has increased dramatically, from less than one per year in the late nineteenth–early twentieth century to about five per year since about 2000, while medium- to long-lived storms have increased little, if at all. Thus, the previously documented increase in total TC frequency since the late nineteenth century in the database is primarily due to an increase in very short-lived TCs. The authors also undertake a sampling study based upon the distribution of ship observations, which provides quantitative estimates of the frequency of missed TCs, focusing just on the moderate to long-lived systems with durations exceeding 2 days in the raw HURDAT. Upon adding the estimated numbers of missed TCs, the time series of moderate to long-lived Atlantic TCs show substantial multidecadal variability, but neither time series exhibits a significant trend since the late nineteenth century, with a nominal decrease in the adjusted time series. Thus, to understand the source of the century-scale increase in Atlantic TC counts in HURDAT, one must explain the relatively monotonic increase in very short-duration storms since the late nineteenth century. While it is possible that the recorded increase in short-duration TCs represents a real climate signal, the authors consider that it is more plausible that the increase arises primarily from improvements in the quantity and quality of observations, along with enhanced interpretation techniques. These have allowed National Hurricane Center forecasters to better monitor and detect initial TC formation, and thus incorporate increasing numbers of very short-lived systems into the TC database.

Time and retribution

Retributivists believe that punishment can be deserved, and that deserved punishment is intrinsically good. They also believe that certain crimes deserve certain quantities of punishment. On the plausible assumption that the overall amount of any given punishment is a function of its severity and duration, we might think that retributivists (qua retributivists) would be indifferent as to whether a punishment were long and light or short and sharp, provided the offender gets the overall amount of punishment he deserves. In this paper I argue against this, showing that retributivists should actually prefer shorter and more severe punishments to longer, gentler options. I show this by focusing on, and developing a series of interpretations of, the retributivist claim that not punishing the guilty is bad, focussing on the relationship between that badness and time. I then show that each interpretation leads to a preference for shorter over longer punishment.

Oxytocin increases eye contact during a real-time, naturalistic social interaction in males with and without autism

Autism spectrum conditions (autism) affect ~1% of the population and are characterized by deficits in social communication. Oxytocin has been widely reported to affect social-communicative function and its neural underpinnings. Here we report the first evidence that intranasal oxytocin administration improves a core problem that individuals with autism have in using eye contact appropriately in real-world social settings. A randomized double-blind, placebo-controlled, within-subjects design is used to examine how intranasal administration of 24 IU of oxytocin affects gaze behavior for 32 adult males with autism and 34 controls in a real-time interaction with a researcher. This interactive paradigm bypasses many of the limitations encountered with conventional static or computer-based stimuli. Eye movements are recorded using eye tracking, providing an objective measurement of looking patterns. The measure is shown to be sensitive to the reduced eye contact commonly reported in autism, with the autism group spending less time looking to the eye region of the face than controls. Oxytocin administration selectively enhanced gaze to the eyes in both the autism and control groups (transformed mean eye-fixation difference per second=0.082; 95% CI:0.025–0.14, P=0.006). Within the autism group, oxytocin has the most effect on fixation duration in individuals with impaired levels of eye contact at baseline (Cohen’s d=0.86). These findings demonstrate that the potential benefits of oxytocin in autism extend to a real-time interaction, providing evidence of a therapeutic effect in a key aspect of social communication.

Interactive effect of cowpea variety, dose and exposure time on bruchid tolerance to botanical pesticides

Callosobruchus maculatus has for years remained a serious menace in cowpea in Sub-Sahara Africa. The objective of this study was to investigate the effect of genotypic cowpea (Vigna unguiculata (L.) Walp) varieties, time and dose on C. maculatus exposed to powders of Piper guineense and Eugenia aromatica. Irrespective of duration and botanicals, bruchid reared on KDV showed the highest tolerance to both plant materials; while their counterparts from IAR48V were the most susceptible. Median lethal time (LT50) also varied according to the plant materials; with the highest in KDV reared bruchid [P. guineense: KDV (18.31), IAR48V (9.27), IFBV (13.17); E. aromatica: KDV (76.01), IAR48V (5.59), IFBV (6.49)]. There was a significant impact of cowpea variety (V), exposure time (T) and dose (D) on the tolerance of C. maculatus to both plant materials. The effect of all two-way (VxT, VxD, DxT) and three way interactions (V×T×D) on the tolerance of C. maculatus to both plant materials was also significant. Varietal effect was more pronounced in bruchids exposed to E. aromatica; while exposure time was more pronounced in bruchids exposed to P. guineense.