Pricing innovations in consumption growth: a re-evaluation of the recursive utility model

We re-evaluate the cross-sectional asset pricing implications of the recursive utility function of Epstein and Zin, 1989 and Epstein and Zin, 1991, using innovations in future consumption growth in our tests. Our empirical specification helps explain the size, value and momentum effects. Specifically, we find that (і) the beta associated with news about consumption growth has a systematic pattern: beta decreases along the size dimension and increases along the book-to-market and momentum dimensions, (іі) innovation in consumption growth is significantly priced in asset returns using both the Fama and MacBeth (1973) and the stochastic discount factor approaches, and (ііі) the model performs better than both the CAPM and Fama–French model.

Recruitment evaluation of a preschooler obesity-prevention intervention

The aim of this paper was to compare the recruitment strategies of two recent studies that focused on the parental influences on childhood obesity during the preschool years. The first study was a randomised controlled trial (RCT) of the Mind, Exercise, Nutrition … Do It! 2–4 obesity prevention programme and the second was a longitudinal cohort study. For both studies, the desired population were families with preschool children at risk of developing overweight or obesity. Hence, families from diverse ethnic and socio-economic backgrounds were sought. Funding for the RCT provided the resources to adopt a targeted approach to recruitment whereas for the longitudinal study, recruitment was random and opportunistic, rather than specific and targeted. The RCT reported higher child body mass index-for-age z scores, more families not from an Australian or New Zealand background, and more families in the lowest income bracket, suggesting that strategically targeted approaches to recruitment are more likely to achieve the desired sample.

Evaluation of the mechanical performance of short concrete column confined with CFRP and GFRP

Concrete has been successfully used to build strong and economic structures. However severe environmental exposures slowly deteriorate concrete strength until complete failure reducing its designed service life. Fiber Reinforced Polymer “FRP” has been recently introduced in the construction industry to strengthen and retrofitting several structural elements including columns. In this research two types of FRP have been used to wrap concrete column in order to increase its capacity; these are Carbon Fiber Reinforced Polymer “CFRP” and Glass Fiber Reinforced Polymer “GFRP”. Twelve short concrete columns have been wrapped with one and two FRP layers including CFRP and GFRP to evaluate their mechanical performance. Mechanical testing has shown that, in general, concrete columns wrapped with FRP produced higher modulus of elasticity compared to the control sample. Results showed that one layer of CFRP have 85.8% increases where as one layer of GFRP showed an increase of 64.5%. Furthermore, two layers of CFRP and GFRP showed 112.5% and 77.2% increase respectively.

Multi-criteria evaluation of wave energy projects on the south-east Australian coast

In the last decade, multiple studies focusing on national-scale assessments of the ocean wave energy resource in Australia identified the Southern Margin to be one of the most energetic areas worldwide suitable for the extraction of wave energy for electricity production. While several companies have deployed single unit devices, the next phase of development will most likely be the deployment of parks with dozens of units, introducing the risk of conflicts within the marine space. This paper presents a geo-spatial multi-criteria evaluation approach to identify optimal locations to deploy a wave energy farm while minimizing potential conflicts with other coastal and offshore users. The methodology presented is based around five major criteria: ocean wave climatology, nature of the seabed, distance to key infrastructure, environmental factors and potential conflict with other users such as shipping and fisheries. A case study is presented for an area off the south-east Australian coast using a total of 18 physical, environmental and socio-economic parameters. The spatial restrictions associated with environmental factors, wave climate, as well as conflict of use, resulted in an overall exclusion of 20% of the study area. Highly suitable areas identified ranged between 11 and 34% of the study area based on scenarios with varying criteria weighting. By spatially comparing different scenarios we identified persistence of a highly suitable area of 700 km2 off the coast of Portland across all model domains investigated. We demonstrate the value of incorporation spatial information at the scale relevant to resource exploitation when examining multiple criteria for optimal site selection of Wave Energy Converters over broad geographic regions.

Adherence to a Mediterranean-style diet and effects on cognition in adults: a qualitative evaluation and systematic review of longitudinal and prospective trials

The Mediterranean-style diet (MedDiet) involves substantial intake of fruits, vegetables, and fish, and a lower consumption of dairy, red meat, and sugars. Over the past 15 years, much empirical evidence supports the suggestion that a MedDiet may be beneficial with respect to reducing the incidence of cardiovascular disease, cancer, metabolic syndrome, and dementia. A number of cross-sectional studies that have examined the impact of MedDiet on cognition have yielded largely positive results. The objective of this review is to evaluate longitudinal and prospective trials to gain an understanding of how a MedDiet may impact cognitive processes over time. The included studies were aimed at improving cognition or minimizing of cognitive decline. Studies reviewed included assessments of dietary status using either a food frequency questionnaire or a food diary assessment. Eighteen articles meeting our inclusion criteria were subjected to systematic review. These revealed that higher adherence to a MedDiet is associated with slower rates of cognitive decline, reduced conversion to Alzheimer's disease, and improvements in cognitive function. The specific cognitive domains that were found to benefit with improved Mediterranean Diet Score were memory (delayed recognition, long-term, and working memory), executive function, and visual constructs. The current review has also considered a number of methodological issues in making recommendations for future research. The utilization of a dietary pattern, such as the MedDiet, will be essential as part of the armamentarium to maintain quality of life and reduce the potential social and economic burden of dementia.