Anhedonia and reward-circuit connectivity distinguish nonresponders from responders to dorsomedial prefrontal rTMS in major depression

Background Depression is a heterogeneous mental illness. Neurostimulation treatments, by targeting specific nodes within the brain’s emotion-regulation network, may be useful both as therapies and as probes for identifying clinically relevant depression subtypes. Methods Here, we applied 20 sessions of magnetic resonance imaging-guided repetitive transcranial magnetic stimulation (rTMS) to the dorsomedial prefrontal cortex in 47 unipolar or bipolar patients with a medication-resistant major depressive episode. Results Treatment response was strongly bimodal, with individual patients showing either minimal or marked improvement. Compared with responders, nonresponders showed markedly higher baseline anhedonia symptomatology (including pessimism, loss of pleasure, and loss of interest in previously enjoyed activities) on item-by-item examination of Beck Depression Inventory-II and Quick Inventory of Depressive Symptomatology ratings. Congruently, on baseline functional magnetic resonance imaging, nonresponders showed significantly lower connectivity through a classical reward pathway comprising ventral tegmental area, striatum, and a region in ventromedial prefrontal cortex. Responders and nonresponders also showed opposite patterns of hemispheric lateralization in the connectivity of dorsomedial and dorsolateral regions to this same ventromedial region. Conclusions The results suggest distinct depression subtypes, one with preserved hedonic function and responsive to dorsomedial rTMS and another with disrupted hedonic function, abnormally lateralized connectivity through ventromedial prefrontal cortex, and unresponsive to dorsomedial rTMS. Future research directly comparing the effects of rTMS at different targets, guided by neuroimaging and clinical presentation, may clarify whether hedonia/reward circuit integrity is a reliable marker for optimizing rTMS target selection.

Linking Northern Hemisphere blocking and storm track biases in the CMIP5 climate models

The relationship between biases in Northern Hemisphere (NH) atmospheric blocking frequency and extratropical cyclone track density is investigated in 12 CMIP5 climate models to identify mechanisms underlying climate model biases and inform future model development. Biases in the Greenland blocking and summer Pacific blocking frequencies are associated with biases in the storm track latitudes while biases in winter European blocking frequency are related to the North Atlantic storm track tilt and Mediterranean cyclone density. However, biases in summer European and winter Pacific blocking appear less related with cyclone track density. Furthermore, the models with smaller biases in winter European blocking frequency have smaller biases in the cyclone density in Europe, which suggests that they are different aspects of the same bias. This is not found elsewhere in the NH. The summer North Atlantic and the North Pacific mean CMIP5 track density and blocking biases might therefore have different origins.

The dynamics and measurement of commercial property depreciation in the UK

Beginning with an extensive literature review, this new research summary report analyses the process of rental depreciation, its effect on the performance of rents, and the impacts of capital expenditure on depreciation. It is based on an analysis of more than 700 commercial and industrial properties and newer property types and it is the most comprehensive national study of rental depreciation since the 1986 CALUS report. The report will be of interest to valuers, fund managers, institutional investors and their advisors and researchers.

Relative values: residential leasehold reform in England and Wales - valuation of lease extension and enfranchisement

This research report was commissioned by the DETR and examines valuation issues relating to leasehold enfanchisement and lease extension - the right for flat owners to collectively purchase the freehold or buy a longer lease. The two factors examined examined in detail are the yield to be applied when capitalising the ground rent and the relative value of leases with a relatively short period left to run as against the value of the freehold or a new long lease, which determines the level of 'marriage level'. The research report will be of interest to all those involved in the valuation of residential leasehold property and those with an interest in legislative proposals for leasehold reform.

Destination UK: international property investment and the role of taxation

This research examines whether or not foreign property investors enjoy tax and other advantages over their UK counterparts and how, if such advantages exists, UK quoted property companies can redress the balance. Current issues such as lack of liquidity, inequalities amongst asset classes, and differences in tax burden are examined in detail. The report will be of interest to property investment specialists, valuers, fund managers, institutional investors and their advisers.

Future shock or e-hype?: the impact of online shopping on UK retail property

This research examines the impact of ecommerce on sales and rental values and on the future space and ownership/leasing requirements of UK retailers for 2000-2005. The independent study, commissioned by BCSC (and funded by BCSC Educational Trust with support from the RICS Education Trust), included a major postal survey, follow-up interviews, a retail focus group, and shopper survey and case study of Cyberton, a town in the South East of England. The study was conducted by the Research Department of The College of Estate Management between June and December 2000.

Valuing for fair rents

'Fair rents' were first introduced in the Rent Acts 1965, to provide a system of rent regulation and residential security of tenure. This research into valuing for fair rents finds practices that are confused, misguided and inconsistent between different parts of the country. A more rational approach to valuation is illustrated through worked valuation examples, but the report recommends other more radical changes to the fair rent system. The study is based on a thorough review and critical analysis of the legislative background, case law, housing market theory and valuation practice. Case studies of fair rent appeals to rent assessment panels are used to explore valuation practice, including implications for the Maximum Fair Rent Order 1999. As a case study of housing regulation and a practical guide to valuing fair rents, the report makes essential reading for valuation practitioners, regulated tenants and landlords, members of the rent service and housing policy makers.

The role of UK retailing in urban regeneration

This research examines the role of retailing in urban regeneration nationally and locally in the UK. The research uses data at a national level and local shopping centre case studies to examine the employment and property impacts of retailing. Focusing on schemes built during the first part of the 1990s it shows that retail can bring employment and economic benefits to town centres, but that the impact on the inner city should not be overlooked. Valuable lessons can be learned from the experience of centres built during this period of recession, and new challenges such as eCommerce now face these centres and others being developed today. The research examines the multiplier effect of retail regeneration schemes nationally using National Accounts data, and the local property and employment impacts of shopping centre schemes in the case study towns of Aberdeen, Bristol, Norwich, Bromley, Worcester and Leicester. The report includes valuable statistical sources, a full literature and policy review and will be of interest to those involved in property investment, regeneration and planning. The research was funded by the Office of Science & Technology and the Harold Samuel Educational Trust.