Neglected risks, financial innovation, and financial fragility

We present a standard model of financial innovation, in which intermediaries engineer securities with cash flows that investors seek, but modify two assumptions. First, investors (and possibly intermediaries) neglect certain unlikely risks. Second, investors demand securities with safe cash flows. Financial intermediaries cater to these preferences and beliefs by engineering securities perceived to be safe but exposed to neglected risks. Because the risks are neglected, security issuance is excessive. As investors eventually recognize these risks, they fly back to safety of traditional securities and markets become fragile, even without leverage, precisely because the volume of new claims is excessive.

Female-biased mortality in experimentally parasitized Alpine Swift Apus melba nestlings

1. Sex-biased mortality in adult vertebrates is often attributed to lower immunocompetence and higher parasite susceptibility of males. Although sex-specific mortality has also been reported during growth, the importance of sex-specific immunocompetence and parasite susceptibility in explaining male-biased mortality remains ambiguous in growing individuals because of potentially confounding sources of mortality such as sexual dimorphism. 2. Here, we investigated sex-specific susceptibility to the blood-sucking louse fly Crataerina melbae and sex differences in cell-mediated immunity in a bird species that is sexually monomorphic both in size and plumage coloration at the nestling stage, the Alpine Swift, Apus melba. 3. For this purpose, we manipulated ectoparasite loads by adding or removing flies to randomly chosen nests in two years, and injected nestlings with mitogenic phytohaemagglutinin (PHA) in another year. 4. There were no significant differences between male and female offspring in immune response towards PHA, parasite load, and parasite-induced decrease in growth rate. Secondary sex ratios were however biased toward males in parasitized broods, and this was explained by a greater mortality of females in parasitized than deparasitized broods. 5. Our findings are in contrast to the widely accepted hypothesis that males suffer a greater cost of parasitism. We discuss alternative hypotheses accounting for female-specific mortality.

Contribuição para o estudo de bactrocera invadens em cabo verde

Bactrocera invadens (Drew, Tsuruta & White) (Diptera:Tephritidae) é uma das espécies de moscas-das-frutas de maior importância económica para a fruticultura mundial. De origem asiática, surgiu em África em 2003, tendo sido detectada em Cabo Verde, Ilha de Santiago, em 2007. Desde então, espalhou-se para Santo Antão, Fogo e Brava. Tendo em vista a avaliação da eficiência de armadilhas para captura em massa da mosca, procedeu-se, durante curtos períodos de tempo em 2009, 2010 e 2011, à recolha de adultos com recurso a dois tipos de atractivos, ‘Creolax’® e proteína hidrolisada, e a três tipos de armadilhas, ABT®, armadilha do tipo funil e garrafa mosqueira da CeraTrap®. As armadilhas foram instaladas em quatro localidades de Santiago, na cultura de mangueira ou de bananeira. O ‘Creolax’ foi significativamente superior à proteína hidrolisada e a armadilha ABT apresentou elevada eficiência na captura de adultos da mosca. Num ensaio em 2009, na Cidade Velha, foram capturados 195, 59 e 30 adultos/armadilha para as combinações, respectivamente, de ABT x ‘Creolax’, armadilha do tipo funil x ‘Creolax’ e garrafa mosqueira x proteína hidrolisada. Em 2011, na bananeira, em Monte Negro, foram capturados 8500 adultos/armadilha ABT x ‘Creolax’ em cinco meses, tendo o máximo da população sido encontrado em Junho.

Larval endoparasitoids (Hymenoptera) of frugivorous flies (Diptera, Tephritoidea) reared from fruits of the cerrado of the State of Mato Grosso do Sul , Brazil

This paper presents a five years survey of endoparasitoids obtained from the larvae of frugivorous Tephritidae and Lonchaeidae flies. The insects were reared from cultivated and wild fruits collected in areas of the cerrado in the State of Mato Grosso do Sul, Brazil. The flies obtained from 14 host fruit species were eight Anastrepha species, Ceratitis capitata (Wiedemann, 1824) (Tephritidae); Dasiops sp. and Neosilba spp. (Lonchaeidae). Eleven parasitoid species were collected: Braconidae - Asobara anastrephae (Muesebek, 1958), Doryctobracon areolatus (Szépligeti, 1911), D. fluminensis (Costa Lima, 1938), Opius bellus Gahan, 1930 and Utetes anastrephae (Viereck, 1913); Figitidae - Aganaspis nordlanderi Wharton, 1998, Lopheucoila anastrephae (Rhower, 1919), Odontosema anastrephae (Borgmeier, 1935) and Trybliographa infuscata Gallardo, Díaz & Uchôa-Fernandes, 2000 and, Pteromalidae - Spalangia gemina Boucek, 1963 and S. endius Walker, 1839. In all cases only one parasitoid emerged per puparium. D. areolatus was the most abundant and frequent parasitoid of fruit fly species, as was L. anastrephae in Neosilba spp. larvae. This is the first record of A. nordlanderi in the midwestern Brazilian region.

Effective Shoulder Design and Maintenance, 2007

Granular shoulders are an important element of the transportation system and are constantly subjected to performance problems due to wind- and water-induced erosion, rutting, edge drop-off, and slope irregularities. Such problems can directly affect drivers’ safety and often require regular maintenance. The present research study was undertaken to investigate the factors contributing to these performance problems and to propose new ideas to design and maintain granular shoulders while keeping ownership costs low. This report includes observations made during a field reconnaissance study, findings from an effort to stabilize the granular and subgrade layer at six shoulder test sections, and the results of a laboratory box study where a shoulder section overlying a soft foundation layer was simulated. Based on the research described in this report, the following changes are proposed to the construction and maintenance methods for granular shoulders: • A minimum CBR value for the granular and subgrade layer should be selected to alleviate edge drop-off and rutting formation. • For those constructing new shoulder sections, the design charts provided in this report can be used as a rapid guide based on an allowable rut depth. The charts can also be used to predict the behavior of existing shoulders. • In the case of existing shoulder sections overlying soft foundations, the use of geogrid or fly ash stabilization proved to be an effective technique for mitigating shoulder rutting.

Flutuação populacional de Anastrepha fraterculus (Wiedemann, 1830) (Diptera, Tephritidae) na Região Oeste de Santa Catarina, Brasil

Fruit flies are the major pests in fruit orchards and require a frequent insecticide aplication control, which increases production cost and chemical residues in fruits. Adults of Anastrepha fraterculus were sampled from twelve peach, plum, orange, tangerine and acid lime orchards in four counties in the Western Region of Santa Catarina. Modified McPhail plastic traps, baited with glucose 10%, were used to collect the flies from October 1998 to September 2000. Trap monitoring, bait replacement and fruit flies sorting by species and sex were done weekly. A total of 4,164 specimens of A. fraterculus was collected and highest population was registered in the county of Chapecó (64,8% of all sampled flies). Adults were collected all year long, with the highest population peaks occurring from December and January, although the fluctuation was different for each fruit species due to their particular phenology and in different years. Positive correlation among temperature, atmospheric humidity and population levels of adults of A. fraterculus was observed. According to the degree days obtained for each year, 4851.9, 4632.9 and 4983.7, respectively in 1998, 1999 and 2000, it was established that A. fraterculus could present an average of 11.2 generations a year.

New records of Simuliidae (Diptera, Nematocera) in the State of São Paulo, Brazil

Adult and immature Simuliidae were studied in 31 streams of 8 regions of the State of São Paulo. Among the 25 species collected, seven are new records for the State of São Paulo, and one of them, Simulium shewellianum Coscarón, 1985 for Brazil as well.

Role and regulation of polyphosphate in leishmania parasites

Le protozoaire unicellulaire Leishmania est l'agent responsable de la leishmaniose, une maladie parasitaire humaine qui se manifeste par des lésions de la peau, se résolvant le plus souvent spontanément, jusqu'à des lésions viscérales fatales. Le parasite est transmis de l'insecte à l'hôte mammifère lors d'un repas sanguin de la mouche des sables et y réside respectivement sous formes extra- et intracellulaires. On estime que cette maladie touche environ 12 millions de personnes dans 98 pays. Etant donné que les médicaments disponibles à ce jour sont faiblement efficaces et/ou hautement toxiques, il est indispensable de consolider les connaissances sur le fonctionnement et la survie du parasite pour pouvoir développer de nouvelles stratégies de traitements et de préventions. Tous les organismes vivants, dont Leishmania, contiennent du polyphopshate (polyP). Cette molécule chargée négativement est constituée de trois jusqu'à plusieurs centaines de résidus de phosphates reliées par des liaisons à haute énergie. Le polyP sert donc de source d'énergie et de réservoir de phosphate; dans certaines espèces, il joue aussi un rôle dans l'adaptation au stress et la virulence de pathogènes. Ceci nous a amené à étudier le rôle du polyP dans le parasite Leishmania. L'enzyme responsable de la synthèse de polyP a été identifié récemment dans la levure : il s'agit de la chaperone de transport vacuolaire 4 (Vtc4). Nous avons identifié un homologue de Vtc4 chez les Trypanosomatidae, et avons donc décidé d'examiner sa fonction dans le métabolisme du polyP chez Leishmania. En éliminant l'expression de Vtc4 chez L. major et L. guyanensis, nous avons pu démontrer qu'il est indispensable pour la production de polyP chez Leishmania. De plus, nous avons constaté que ces parasites possèdent des chaînes de polyP allant de trois jusqu'à environ 300 résidus de phosphate. Le taux de polyP dans la cellule est précisément régulé et varie entre un très haut niveau durant la phase proliférative des promastigotes à un niveau bas en phase stationnaire tardive, alors que l'expression de Vtc4p reste stable. Dans les amastigotes intracellulaires, seulement des petites quantités de polyP et de Vtc4p sont détectées. En outre, l'absence de Vc4p et de polyP n'a pas d'effet significatif sur les infections in vivo de souris, ce qui indique que le polyP n'est pas nécessaire au développement de la leishmaniose. Ceci suggère que Vtc4p n 'est pas une bonne cible pour le développement de nouveaux traitements contre Leishmania. "Néanmoins, la présence du polyP favorise fortement la survie du parasite suite à un choc de température (37°C) et aide ainsi à sa persistance intracellulaire pendant les premiers jours d'infection de macrophages. En résumé, nos résultats indiquent que si le polyP a peu d'importance pendant l'infection et le développement de la leishmaniose chez la souris, il est par contre crucial pour l'adaptation à des situations de stress comme l'augmentation de la température. Le fait que le polyP a été conservé dans tous les organismes durant l'évolution suggère toutefois que cette molécule joue un rôle fondamental. Etant donné que l'absence de polyP n'a pas d'effet sur la survie des amastigotes, il pourrait être plus important dans la forme promastigote infectant la mouche des sables. - The unicellular protozoan parasite Leishmania is the causative agent of the human disease leishmaniasis, which can range from self-healing skin lesions to fatal visceral lesions. The parasite is transmitted from the insect vector to the mammalian host when the sand fly takes its blood meal and exists in an extra- and an intracellular form, respectively. The disease is estimated to affect 12 million people in 98 countries and currently available drug treatments are of relatively low potency and/or high toxicity. Thus, investigating parasite survival mechanisms and parasite adaptation to the two host environments contributes to the general understanding of Leishmania propagation and might therefore help to develop future treatments or preventions. All living cells, including Leishmania, contain a negatively charged polymer of a few up to several hundred phosphate residues. These so-called polyphosphates (polyPs) serve as an energy source and phosphate reservoir. In some organisms, polyP is also involved in adaptation to stresses and virulence of pathogens. Therefore we were interested in investigating the importance of polyP in Leishmania parasites. Recently, an eukaryotic enzyme responsible for polyP synthesis has been identified as the vacuolar transporter chaperone 4 (Vtc4) in yeast. We, and others, found a Vtc4 homologue in trypanosomatids and decided to examine its potential function in polyP metabolism. By generating VTC4 knock-out cell lines in L. major and Vtc4 knock-down cell lines in L. guyanensis, we were able to demonstrate that Vtc4p is responsible for the total amount of cellular polyP. We also observed that Leishmania polyP chain length ranges from a few up to around 300 residues and that its level is tightly regulated. PolyP abundance is highest during the logarithmic proliferating phase of promastigotes and decreases in the stationary phase, while Vtc4 protein expression remains stable during both phases. In the intracellular amastigote form, only low amounts of polyP and Vtc4p were detectable. Furthermore, absence of Vtc4p and polyP did not have a significant effect on in vivo mouse infections, indicating that polyP is not necessary for Leishmania disease progression. This suggests that Vtc4p would be a poor drug target against Leishmania infection. However, presence of the polymer strongly supported parasite survival during heat shock (37°C) and thereby promoted intracellular persistence during the first days of macrophage infections. Taken together, we found that polyP has little importance in Leishmania {in vivo) infection but that it plays a crucial role during adaptation to stress, such as heat shock. Given that polyP has been preciously conserved in all organisms during evolution it seems to play a fundamental role. Since absence of polyP does not affect amastigote survival, it might be significant for promastigote existence in the sand fly vector.

Redescription of the genus Diopsosoma Malloch (Diptera, Periscelididae)

Diopsosoma Malloch, 1932 and its only included species, D. primum Malloch, 1932 are redescribed. While the genus is remarkable and easily recognized by its laterally elongate head that is produced into eyestalks, it is otherwise virtually unknown. To bring attention to this extraordinary fly we redescribe it within the context of brief descriptions of the family Periscelididae and subfamily Periscelidinae. We also provide an annotated key to the described genera of Periscelididae and a photographic montage of the holotype, which is perhaps the only preserved specimen of this genus and species.

Bilateral anomaly in the style of Micropygomyia schreiberi (Martins, Falcão & Silva) (Diptera, Psychodidae)

This paper presents a specimen of phlebotomine sand fly with a bilateral anomaly in the style. Although such anomaly be rare in this group of insects, it may cause confusion in taxonomic identification and even lead to description of new species, increasing the number of synonymies. The specimen was measured and compared with the holotype and four paratypes of Micropygomyia schreiberi (Martins, Falcão & Silva, 1975) and confirmed that it belongs, in fact, to this species.

Catalogue of American Nycteribiidae (Diptera, Hippoboscoidea)

A catalogue of the family Nycteribiidae (Diptera, Hippoboscoidea) of the New World is presented. Two genera and 52 species are listed in alphabetical order. Each genus account lists synonymies and type species, and each species account lists type locality and host, disposition of type material, geographic and host distribution, and a detailed bibliography.

Improvement of a test-chamber for behavioral studies on adult females of Aedes aegypti (Linnaeus) (Diptera, Culicidae)

A test-chamber (K&L-Chamber) made of cardboard and acrylic plastic, and consisting in four sections (A, B, C and D) was developed by Klowden & Lea (1978) for Aedes aegypti host-seeking behavior studies. Later, Foster & Lutes (1985) also used an identical chamber to successfully evaluate the efficacy of electronic repellers. It was described here a modified K&L-Chamber for behavioral studies of Ae. aegypti adults. The chamber was made in polystyrene, consisting of three sections (A, B and C) and using a human hand and a fluorescent lamp as stimulus to attract the mosquitoes. The suitability of the present test-chamber was validated assaying 80 replicates and releasing 10 Ae. aegypti females in each replicate. The females were released in the section A and allowed to fly to the section C. A mean of 96.0% (s.e. 0.213) Ae. aegypti females successfully reached section C. The present test-chamber is cheaper and easier to handle and as efficient as K&L-Chamber, when compared to Foster & Lutes (1978) that noticed 93.8% of Ae. aegypti reaching the trap section.

Biogeographic analysis of Crocidiinae (Diptera, Bombyliidae): finding congruence among morphological, molecular, fossil and paleogeographical data

Biogeographic studies dealing with Bombyliidae are rare in the literature and no information is available on its origin and early diversification. In this study, we found evidence from molecular phylogeny and from fossil record supporting a Middle Jurassic origin of the Bombylioidea, taken as a starting point to discuss the biogeography and diversification of Crocidiinae. Based on a previously published phylogenetic hypothesis, we performed a Brooks Parsimony Analysis (BPA) to discuss the biogeographical history of Crocidiinae lineages. This subfamily is mostly distributed over arid areas of the early components of the Gondwanaland: Chile and southern Africa, but also in southwestern Palaearctic and southwestern Nearctic. The vicariant events affecting the Crocidiinae biogeography at the generic level seems to be related to the sequential separation of a Laurasian clade from a Gondwanan clade followed by the splitting of the latter into smaller components. This also leads to a hypothesis of origin of the Crocidiinae in the Middle Jurassic, the same period in which other bombyliid lineages are supposed to have arisen and irradiated.

A new species of Sycorax (Diptera, Psychodidae, Sycoracinae) from the Pacific coast of Colombia

Sycorax utriensis n. sp. is described and illustrated from a male specimen collected with a CDC light trap in the Parque Nacional Natural Ensenada de Utría, on the Pacific Coast of Colombia. Five species of Sycorax are now known from Colombia, S. andicola Young, 1979, S. colombiensis Young, 1979, S. fairchildi Young, 1979, S. trispinosa Young, 1979 and S. utriensis n. sp.

First record of Anastrepha parishi Stone (Diptera, Tephritidae) and its host in Brazil

Anastrepha parishi Stone, 1942 was reared in fruits of Oenocarpus bacaba Martius, 1823 (Arecaceae) collected in Pracuúba, State of Amapá. This is the first record of an Anastrepha species in a native species of Arecaceae.