Finding a maximum skewness portfolio - A general solution to three-moments portfolio choice

Considering the three first moments and allowing short sales, the efficient portfolios set for n risky assets and a riskless one is found, supposing that agents like odd moments and dislike even ones. Analytical formulas for the solution surface are obtained and important geometric properties provide insights on its shape in the three dimensional space defined by the moments. A special duality result is needed and proved. The methodology is general, comprising situations in which, for instance, the investor trades a negative skewness for a higher expected return. Computation of the optimum portfolio weights is feasible in most cases.

Resonant properties, of modified triangular plasmonic nanoparticles with higher field concentration

In this paper, we present an analysis of the resonant response of modified triangular metallic nanoparticles with polynomial sides. The particles are illuminated by an incident plane wave and the method of moments is used to solve numerically the electromagnetic scattering problem. We investigate spectral response and near field distribution in function of the length and polynomial order of the nanoparticles. Our results show that in the analyzed wavelength range (0.5-1.8) µm these particles possess smaller number of resonances and their resonant wavelengths, near field enhancement and field confinement are higher than those of the conventional triangular particle with linear sides.

Hot spots, hot moments, and spatio-temporal controls on soil CO2 efflux in a water-limited ecosystem

Soil CO2 efflux is the primary source of CO2 emissions from terrestrial ecosystems to the atmosphere. The rates of this flux vary in time and space producing hot moments (sudden temporal high fluxes) and hot spots (spatially defined high fluxes), but these high reaction rates are rarely studied in conjunction with each other. We studied temporal and spatial variation of soil CO2 efflux in a water-limited Mediterranean ecosystem in Baja California, Mexico. Soil CO2 efflux increased 522% during a hot moment after rewetting of soils following dry summer months. Monthly precipitation was the primary driver of the seasonal trend of soil CO2 efflux (including the hot moment) and through changes in soil volumetric water content (VWC) it influenced the relationship between CO2 efflux and soil temperature. Geostatistical analyses showed that the spatial dependence of soil CO2 efflux changed between two contrasting seasons (dry and wet). During the dry season high soil VWC was associated with high soil CO2 efflux, and during the wet season the emergence of a hot spot of soil CO2 efflux was associated with higher root biomass and leaf area index. These results suggest that sampling designs should accommodate for changes in spatial dependence of measured variables. The spatio-temporal relationships identified in this study are arguably different from temperate ecosystems where the majority of soil CO2 efflux research has been done. This study provides evidence of the complexity of the mechanisms controlling the spatio-temporal variability of soil CO2 efflux in water-limited ecosystems. (C) 2014 Elsevier Ltd. All rights reserved.

Pure higher-order effects in the portfolio choice model

This paper examines the effects of higher-order risk attitudes and statistical moments on the optimal allocation of risky assets within the standard portfolio choice model. We derive the expressions for the optimal proportion of wealth invested in the risky asset to show they are functions of portfolio returns third- and fourth-order moments as well as on the investor’s risk preferences of prudence and temperance. We illustrate the relative importance that the introduction of those higher-order effects have in the decision of expected utility maximizers using data for the US.

Moments of Collusion? Close readings of affective, hidden moments within feminist research

This paper addresses affective ‘moments of collusion’ present in feminist research relationships, and contextualises these seemingly personal encounters within a wider systematic framework of the early career researcher and the increasingly neoliberal climate of academia. Focusing on the temporal transition from doctoral research to postdoctorate research positions immediately post-PhD, this paper questions the concept of collusion within (immersive) fieldwork, and examines the delicate and complex question of who is colluding with whom, and for what purpose at different times within the early career academic journey. Specifically, this paper focuses on how the increasing pressures of the neoliberal university play out on our emotions and bodies during fieldwork, an area which still requires attention within the growing critiques of the affects of neo-liberalism in Higher Education. Using personal case studies as springboard for a far wider and important discussion, this paper situates such methodological dilemmas within a broader temporal framework of the increasingly precarious nature of early career academics, where ‘moments of collusion’ may be the only way to keep your head above water.

Speaker identification using higher order spectral phase features and their effectiveness vis-a-vis Mel-Cepstral features

The effectiveness of higher-order spectral (HOS) phase features in speaker recognition is investigated by comparison with Mel Cepstral features on the same speech data. HOS phase features retain phase information from the Fourier spectrum unlikeMel–frequency Cepstral coefficients (MFCC). Gaussian mixture models are constructed from Mel– Cepstral features and HOS features, respectively, for the same data from various speakers in the Switchboard telephone Speech Corpus. Feature clusters, model parameters and classification performance are analyzed. HOS phase features on their own provide a correct identification rate of about 97% on the chosen subset of the corpus. This is the same level of accuracy as provided by MFCCs. Cluster plots and model parameters are compared to show that HOS phase features can provide complementary information to better discriminate between speakers.