917 resultados para Earnings and dividend announcements, high frequency data, information asymmetry
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Current changes in the tropical hydrological cycle, including water vapour and precipitation, are presented over the period 1979-2008 based on a diverse suite of observational datasets and atmosphere-only climate models. Models capture the observed variability in tropical moisture while reanalyses cannot. Observed variability in precipitation is highly dependent upon the satellite instruments employed and only cursory agreement with model simulations, primarily relating to the interannual variability associated with the El Niño Southern Oscillation. All datasets display a positive relationship between precipitation and surface temperature but with a large spread. The tendency for wet, ascending regions to become wetter at the expense of dry, descending regimes is in general reproduced. Finally, the frequency of extreme precipitation is shown to rise with warming in the observations and for the model ensemble mean but with large spread in the model simulations. The influence of the Earth’s radiative energy balance in relation to changes in the tropical water cycle are discussed
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An isentropic potential vorticity (PV) budget analysis is employed to examine the role of synoptic transients, advection, and nonconservative processes as forcings for the evolution of the low-frequency PV anomalies locally and those associated with the North Atlantic Oscillation (NAO) and the Pacific–North American (PNA) pattern. Specifically, the rate of change of the low-frequency PV is expressed as a sum of tendencies due to divergence of eddy transport, advection by the low-frequency flow (hereafter referred to as advection), and the residual nonconservative processes. The balance between the variances and covariances of these terms is illustrated using a novel vector representation. It is shown that for most locations, as well as for the PNA pattern, the PV variability is dominantly driven by advection. The eddy forcing explains a small amount of the tendency variance. For the NAO, the role of synoptic eddy fluxes is found to be stronger, explaining on average 15% of the NAO tendency variance. Previous studies have not assessed quantitively how the various forcings balance the tendency. Thus, such studies may have overestimated the role of eddy fluxes for the evolution of teleconnections by examining, for example, composites and regressions that indicate maintenance, rather than evolution driven by the eddies. The authors confirm this contrasting view by showing that during persistent blocking (negative NAO) episodes the eddy driving is relatively stronger.
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More data will be produced in the next five years than in the entire history of human kind, a digital deluge that marks the beginning of the Century of Information. Through a year-long consultation with UK researchers, a coherent strategy has been developed, which will nurture Century-of-Information Research (CIR); it crystallises the ideas developed by the e-Science Directors' Forum Strategy Working Group. This paper is an abridged version of their latest report which can be found at: http://wikis.nesc.ac.uk/escienvoy/Century_of_Information_Research_Strategy which also records the consultation process and the affiliations of the authors. This document is derived from a paper presented at the Oxford e-Research Conference 2008 and takes into account suggestions made in the ensuing panel discussion. The goals of the CIR Strategy are to facilitate the growth of UK research and innovation that is data and computationally intensive and to develop a new culture of 'digital-systems judgement' that will equip research communities, businesses, government and society as a whole, with the skills essential to compete and prosper in the Century of Information. The CIR Strategy identifies a national requirement for a balanced programme of coordination, research, infrastructure, translational investment and education to empower UK researchers, industry, government and society. The Strategy is designed to deliver an environment which meets the needs of UK researchers so that they can respond agilely to challenges, can create knowledge and skills, and can lead new kinds of research. It is a call to action for those engaged in research, those providing data and computational facilities, those governing research and those shaping education policies. The ultimate aim is to help researchers strengthen the international competitiveness of the UK research base and increase its contribution to the economy. The objectives of the Strategy are to better enable UK researchers across all disciplines to contribute world-leading fundamental research; to accelerate the translation of research into practice; and to develop improved capabilities, facilities and context for research and innovation. It envisages a culture that is better able to grasp the opportunities provided by the growing wealth of digital information. Computing has, of course, already become a fundamental tool in all research disciplines. The UK e-Science programme (2001-06)—since emulated internationally—pioneered the invention and use of new research methods, and a new wave of innovations in digital-information technologies which have enabled them. The Strategy argues that the UK must now harness and leverage its own, plus the now global, investment in digital-information technology in order to spread the benefits as widely as possible in research, education, industry and government. Implementing the Strategy would deliver the computational infrastructure and its benefits as envisaged in the Science & Innovation Investment Framework 2004-2014 (July 2004), and in the reports developing those proposals. To achieve this, the Strategy proposes the following actions: support the continuous innovation of digital-information research methods; provide easily used, pervasive and sustained e-Infrastructure for all research; enlarge the productive research community which exploits the new methods efficiently; generate capacity, propagate knowledge and develop skills via new curricula; and develop coordination mechanisms to improve the opportunities for interdisciplinary research and to make digital-infrastructure provision more cost effective. To gain the best value for money strategic coordination is required across a broad spectrum of stakeholders. A coherent strategy is essential in order to establish and sustain the UK as an international leader of well-curated national data assets and computational infrastructure, which is expertly used to shape policy, support decisions, empower researchers and to roll out the results to the wider benefit of society. The value of data as a foundation for wellbeing and a sustainable society must be appreciated; national resources must be more wisely directed to the collection, curation, discovery, widening access, analysis and exploitation of these data. Every researcher must be able to draw on skills, tools and computational resources to develop insights, test hypotheses and translate inventions into productive use, or to extract knowledge in support of governmental decision making. This foundation plus the skills developed will launch significant advances in research, in business, in professional practice and in government with many consequent benefits for UK citizens. The Strategy presented here addresses these complex and interlocking requirements.
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Consumers increasingly demand convenience foods of the highest quality in terms of natural flavor and taste, and which are freedom additives and preservatives. This demand has triggered the need for the development of a number of nonthermal approaches to food processing, of which high-pressure technology has proven to be very valuable. A number of recent publications have demonstrated novel and diverse uses of this technology. Its novel features, which include destruction of microorganisms at room temperature or lower, have made the technology commerically attractive. Enzymes forming bacteria can be by the application of pressure-thermal combinations. This review aims to identify the opportunities and challenges associated with this technology. In addition to discussing the effects of high pressure on food components, this review covers the combined effects of high pressure processing with: gamma irradiation, alternating current, ultrasound, and carbon dioxide or anti-microbial treatment. Further, the applications of this technology in various sectors-fruits and vegetables, dairy and meat processing-have been dealt with extensively. The integration of high-pressure with other matured processing operations such as blanching, dehydration, osmotic dehydration, rehyrdration, frying, freezing/thawing and solid-liquid extraction has been shown to open up new processing options. The key challenges identified include: heat transfer problems and resulting non-uniformity in processing, obtaining reliable and reproducible data, for process validation, lack of detailed knowledge about the interaction between high pressure, and a number of food constituents, packaging and statutory issues.
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We compare the variability of the Atlantic meridional overturning circulation (AMOC) as simulated by the coupled climate models of the RAPID project, which cover a wide range of resolution and complexity, and observed by the RAPID/MOCHA array at about 26N. We analyse variability on a range of timescales. In models of all resolutions there is substantial variability on timescales of a few days; in most AOGCMs the amplitude of the variability is of somewhat larger magnitude than that observed by the RAPID array, while the amplitude of the simulated annual cycle is similar to observations. A dynamical decomposition shows that in the models, as in observations, the AMOC is predominantly geostrophic (driven by pressure and sea-level gradients), with both geostrophic and Ekman contributions to variability, the latter being exaggerated and the former underrepresented in models. Other ageostrophic terms, neglected in the observational estimate, are small but not negligible. In many RAPID models and in models of the Coupled Model Intercomparison Project Phase 3 (CMIP3), interannual variability of the maximum of the AMOC wherever it lies, which is a commonly used model index, is similar to interannual variability in the AMOC at 26N. Annual volume and heat transport timeseries at the same latitude are well-correlated within 15-45N, indicating the climatic importance of the AMOC. In the RAPID and CMIP3 models, we show that the AMOC is correlated over considerable distances in latitude, but not the whole extent of the north Atlantic; consequently interannual variability of the AMOC at 50N is not well-correlated with the AMOC at 26N.
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We consider scattering of a time harmonic incident plane wave by a convex polygon with piecewise constant impedance boundary conditions. Standard finite or boundary element methods require the number of degrees of freedom to grow at least linearly with respect to the frequency of the incident wave in order to maintain accuracy. Extending earlier work by Chandler-Wilde and Langdon for the sound soft problem, we propose a novel Galerkin boundary element method, with the approximation space consisting of the products of plane waves with piecewise polynomials supported on a graded mesh with smaller elements closer to the corners of the polygon. Theoretical analysis and numerical results suggest that the number of degrees of freedom required to achieve a prescribed level of accuracy grows only logarithmically with respect to the frequency of the incident wave.
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We consider the scattering of a time-harmonic acoustic incident plane wave by a sound soft convex curvilinear polygon with Lipschitz boundary. For standard boundary or finite element methods, with a piecewise polynomial approximation space, the number of degrees of freedom required to achieve a prescribed level of accuracy grows at least linearly with respect to the frequency of the incident wave. Here we propose a novel Galerkin boundary element method with a hybrid approximation space, consisting of the products of plane wave basis functions with piecewise polynomials supported on several overlapping meshes; a uniform mesh on illuminated sides, and graded meshes refined towards the corners of the polygon on illuminated and shadow sides. Numerical experiments suggest that the number of degrees of freedom required to achieve a prescribed level of accuracy need only grow logarithmically as the frequency of the incident wave increases.
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There are a number of challenges associated with managing knowledge and information in construction organizations delivering major capital assets. These include the ever-increasing volumes of information, losing people because of retirement or competitors, the continuously changing nature of information, lack of methods on eliciting useful knowledge, development of new information technologies and changes in management and innovation practices. Existing tools and methodologies for valuing intangible assets in fields such as engineering, project management and financial, accounting, do not address fully the issues associated with the valuation of information and knowledge. Information is rarely recorded in a way that a document can be valued, when either produced or subsequently retrieved and re-used. In addition there is a wealth of tacit personal knowledge which, if codified into documentary information, may prove to be very valuable to operators of the finished asset or future designers. This paper addresses the problem of information overload and identifies the differences between data, information and knowledge. An exploratory study was conducted with a leading construction consultant examining three perspectives (business, project management and document management) by structured interviews and specifically how to value information in practical terms. Major challenges in information management are identified. An through-life Information Evaluation methodology (IEM) is presented to reduce information overload and to make the information more valuable in the future.
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It is generally assumed that the variability of neuronal morphology has an important effect on both the connectivity and the activity of the nervous system, but this effect has not been thoroughly investigated. Neuroanatomical archives represent a crucial tool to explore structure–function relationships in the brain. We are developing computational tools to describe, generate, store and render large sets of three–dimensional neuronal structures in a format that is compact, quantitative, accurate and readily accessible to the neuroscientist. Single–cell neuroanatomy can be characterized quantitatively at several levels. In computer–aided neuronal tracing files, a dendritic tree is described as a series of cylinders, each represented by diameter, spatial coordinates and the connectivity to other cylinders in the tree. This ‘Cartesian’ description constitutes a completely accurate mapping of dendritic morphology but it bears little intuitive information for the neuroscientist. In contrast, a classical neuroanatomical analysis characterizes neuronal dendrites on the basis of the statistical distributions of morphological parameters, e.g. maximum branching order or bifurcation asymmetry. This description is intuitively more accessible, but it only yields information on the collective anatomy of a group of dendrites, i.e. it is not complete enough to provide a precise ‘blueprint’ of the original data. We are adopting a third, intermediate level of description, which consists of the algorithmic generation of neuronal structures within a certain morphological class based on a set of ‘fundamental’, measured parameters. This description is as intuitive as a classical neuroanatomical analysis (parameters have an intuitive interpretation), and as complete as a Cartesian file (the algorithms generate and display complete neurons). The advantages of the algorithmic description of neuronal structure are immense. If an algorithm can measure the values of a handful of parameters from an experimental database and generate virtual neurons whose anatomy is statistically indistinguishable from that of their real counterparts, a great deal of data compression and amplification can be achieved. Data compression results from the quantitative and complete description of thousands of neurons with a handful of statistical distributions of parameters. Data amplification is possible because, from a set of experimental neurons, many more virtual analogues can be generated. This approach could allow one, in principle, to create and store a neuroanatomical database containing data for an entire human brain in a personal computer. We are using two programs, L–NEURON and ARBORVITAE, to investigate systematically the potential of several different algorithms for the generation of virtual neurons. Using these programs, we have generated anatomically plausible virtual neurons for several morphological classes, including guinea pig cerebellar Purkinje cells and cat spinal cord motor neurons. These virtual neurons are stored in an online electronic archive of dendritic morphology. This process highlights the potential and the limitations of the ‘computational neuroanatomy’ strategy for neuroscience databases.
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We compare the variability of the Atlantic meridional overturning circulation (AMOC) as simulated by the coupled climate models of the RAPID project, which cover a wide range of resolution and complexity, and observed by the RAPID/MOCHA array at about 26N. We analyse variability on a range of timescales, from five-daily to interannual. In models of all resolutions there is substantial variability on timescales of a few days; in most AOGCMs the amplitude of the variability is of somewhat larger magnitude than that observed by the RAPID array, while the time-mean is within about 10% of the observational estimate. The amplitude of the simulated annual cycle is similar to observations, but the shape of the annual cycle shows a spread among the models. A dynamical decomposition shows that in the models, as in observations, the AMOC is predominantly geostrophic (driven by pressure and sea-level gradients), with both geostrophic and Ekman contributions to variability, the latter being exaggerated and the former underrepresented in models. Other ageostrophic terms, neglected in the observational estimate, are small but not negligible. The time-mean of the western boundary current near the latitude of the RAPID/MOCHA array has a much wider model spread than the AMOC does, indicating large differences among models in the simulation of the wind-driven gyre circulation, and its variability is unrealistically small in the models. In many RAPID models and in models of the Coupled Model Intercomparison Project Phase 3 (CMIP3), interannual variability of the maximum of the AMOC wherever it lies, which is a commonly used model index, is similar to interannual variability in the AMOC at 26N. Annual volume and heat transport timeseries at the same latitude are well-correlated within 15--45N, indicating the climatic importance of the AMOC. In the RAPID and CMIP3 models, we show that the AMOC is correlated over considerable distances in latitude, but not the whole extent of the north Atlantic; consequently interannual variability of the AMOC at 50N, where it is particularly relevant to European climate, is not well-correlated with that of the AMOC at 26N, where it is monitored by the RAPID/MOCHA array.
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This paper compares the performance of artificial neural networks (ANNs) with that of the modified Black model in both pricing and hedging Short Sterling options. Using high frequency data, standard and hybrid ANNs are trained to generate option prices. The hybrid ANN is significantly superior to both the modified Black model and the standard ANN in pricing call and put options. Hedge ratios for hedging Short Sterling options positions using Short Sterling futures are produced using the standard and hybrid ANN pricing models, the modified Black model, and also standard and hybrid ANNs trained directly on the hedge ratios. The performance of hedge ratios from ANNs directly trained on actual hedge ratios is significantly superior to those based on a pricing model, and to the modified Black model.
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One central question in the formal linguistic study of adult multilingual morphosyntax (i.e., L3/Ln acquisition) involves determining the role(s) the L1 and/or the L2 play(s) at the L3 initial state (e.g., Bardel & Falk, Second Language Research 23: 459–484, 2007; Falk & Bardel, Second Language Research: forthcoming; Flynn et al., The International Journal of Multilingualism 8: 3–16, 2004; Rothman, Second Language Research: forthcoming; Rothman & Cabrelli, On the initial state of L3 (Ln) acquisition: Selective or absolute transfer?: 2007; Rothman & Cabrelli Amaro, Second Language Research 26: 219–289, 2010). The present article adds to this general program, testing Rothman's (Second Language Research: forthcoming) model for L3 initial state transfer, which when relevant in light of specific language pairings, maintains that typological proximity between the languages is the most deterministic variable determining the selection of syntactic transfer. Herein, I present empirical evidence from the later part of the beginning stages of L3 Brazilian Portuguese (BP) by native speakers of English and Spanish, who have attained an advanced level of proficiency in either English or Spanish as an L2. Examining the related domains of syntactic word order and relative clause attachment preference in L3 BP, the data clearly indicate that Spanish is transferred for both experimental groups irrespective of whether it was the L1 or L2. These results are expected by Rothman's (Second Language Research: forthcoming) model, but not necessarily predicted by other current hypotheses of multilingual syntactic transfer; the implications of this are discussed.
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In this paper we propose and analyze a hybrid $hp$ boundary element method for the solution of problems of high frequency acoustic scattering by sound-soft convex polygons, in which the approximation space is enriched with oscillatory basis functions which efficiently capture the high frequency asymptotics of the solution. We demonstrate, both theoretically and via numerical examples, exponential convergence with respect to the order of the polynomials, moreover providing rigorous error estimates for our approximations to the solution and to the far field pattern, in which the dependence on the frequency of all constants is explicit. Importantly, these estimates prove that, to achieve any desired accuracy in the computation of these quantities, it is sufficient to increase the number of degrees of freedom in proportion to the logarithm of the frequency as the frequency increases, in contrast to the at least linear growth required by conventional methods.