The trading mechanism, cross listed stocks:A comparison of the Paris Bourse and SEAQ-International

This paper studies the behaviour of returns for a sample of cross-listed stocks, listed on both the Paris Bourse and SEAQ-International in London. The aim of the paper is to discover which market adjusts to fundamental news more quickly, the home market of Paris or SEAQ-International. We find that prices in London adjust to changes in their fundamental value more slowly than Paris prices, despite the ability to quickly arbitrage between the two markets. We suggest that this finding may reflect the type of trading, which takes place in the two markets and differences associated with the reporting of large trades. We also estimate the amount of noise present in the two markets and show that the Paris market is more noisy than London. © 2003 Published by Elsevier B.V.

The missing link:Analogous human and primate cortical gamma oscillations

Recent animal studies highlighting the relationship between functional imaging signals and the underlying neuronal activity have revealed the potential capabilities of non-invasive methods. However, the valuable exchange of information between animal and human studies remains restricted by the limited evidence of direct physiological links between species. In this study we used magnetoencephalography (MEG) to investigate the occurrence of 30-70 Hz (gamma) oscillations in human visual cortex, induced by the presentation of visual stimuli of varying contrast. These oscillations, well described in the animal literature, were observed in retinotopically concordant locations of visual cortex and show striking similarity to those found in primate visual cortex using surgically implanted electrodes. The amplitude of the gamma oscillations increases linearly with stimulus contrast in strong correlation with the gamma oscillations found in the local field potential (LFP) of the macaque. We demonstrate that non-invasive magnetic field measurements of gamma oscillations in human visual cortex concur with invasive measures of activation in primate visual cortex, suggesting both a direct representation of underlying neuronal activity and a concurrence between human and primate cortical activity. © 2005 Elsevier Inc. All rights reserved.

Motion, flash, and flicker:A unified spatiotemporal model of perceived edge sharpening

Blurred edges appear sharper in motion than when they are stationary. We proposed a model of this motion sharpening that invokes a local, nonlinear contrast transducer function (Hammett et al, 1998 Vision Research 38 2099-2108). Response saturation in the transducer compresses or 'clips' the input spatial waveform, rendering the edges as sharper. To explain the increasing distortion of drifting edges at higher speeds, the degree of nonlinearity must increase with speed or temporal frequency. A dynamic contrast gain control before the transducer can account for both the speed dependence and approximate contrast invariance of motion sharpening (Hammett et al, 2003 Vision Research, in press). We show here that this model also predicts perceived sharpening of briefly flashed and flickering edges, and we show that the model can account fairly well for experimental data from all three modes of presentation (motion, flash, and flicker). At moderate durations and lower temporal frequencies the gain control attenuates the input signal, thus protecting it from later compression by the transducer. The gain control is somewhat sluggish, and so it suffers both a slow onset, and loss of power at high temporal frequencies. Consequently, brief presentations and high temporal frequencies of drift and flicker are less protected from distortion, and show greater perceptual sharpening.

Development and evaluation of an ion induced x-ray emission system for the analysis of light and medium weight elements

The present work describes the development of a proton induced X-ray emission (PIXE) analysis system, especially designed and builtfor routine quantitative multi-elemental analysis of a large number of samples. The historical and general developments of the analytical technique and the physical processes involved are discussed. The philosophy, design, constructional details and evaluation of a versatile vacuum chamber, an automatic multi-sample changer, an on-demand beam pulsing system and ion beam current monitoring facility are described.The system calibration using thin standard foils of Si, P, S,Cl, K, Ca, Ti, V, Fe, Cu, Ga, Ge, Rb, Y and Mo was undertaken at proton beam energies of 1 to 3 MeV in steps of 0.5 MeV energy and compared with theoretical calculations. An independent calibration check using bovine liver Standard Reference Material was performed.  The minimum detectable limits have been experimentally determined at detector positions of 90° and 135° with respect to the incident beam for the above range of proton energies as a function of atomic number Z. The system has detection limits of typically 10- 7 to 10- 9 g for elements 14and calculations of areal density of thin foils using Rutherford backscattering data.  Amniotic fluid samples supplied by South Sefton Health Authority were successfully analysed for their low base line elemental concentrations. In conclusion the findings of this work are discussed with suggestions for further work .

Functional polymers for biomedical application : synthesis and applications

Aromatic and aliphatic diacid chlorides were used to condense naturally occurring diamino acids and their esterified derivatives. It was anticipated the resulting functional polyamides would biodegrade to physiologically acceptable compounds and show pH dependant solubility could be used for biomedical applications ranging from enteric coatings to hydrosoluble drug delivery vehicles capable of targeting areas of low physiological pH. With these applications in mind the polymers were characterised by infra red spectroscopy, gel permeation chromatography and in the case of aqueous soluble polymers by potentiometric titration. Thin films of poly (lysine ethyl ester isophthalamide) plasticised with poly (caprolactone) were cast from DMSO/chloroform solutions and their mechanical properties measured on a Hounsfield Hti tensiometer. Interfacial synthesis was investigated as a synthetic route for the production of linear functional polyamides. High molecular weight polymer was obtained only when esterified diamino acids were condensed with aromatic diacid chlorides. The method was unsuitable for the production of copolymers of free and esterified amino acids with a diacid chloride. A novel miscible mixed solvent single phase reaction was investigated for production of copolymers of esterified and non-esterified amino acids with diacid chlorides. Aliphatic diacid chlorides were unsuitable for condensing diamino acids using this technique because of high rates of hydrolysis. The technique gave high molecular weight homopolymers from esterified diamino acids and aromatic diacid chlorides.

Managing uncertainty in complex stochastic models: design and emulation of a Rabies model

In this paper we present a novel method for emulating a stochastic, or random output, computer model and show its application to a complex rabies model. The method is evaluated both in terms of accuracy and computational efficiency on synthetic data and the rabies model. We address the issue of experimental design and provide empirical evidence on the effectiveness of utilizing replicate model evaluations compared to a space-filling design. We employ the Mahalanobis error measure to validate the heteroscedastic Gaussian process based emulator predictions for both the mean and (co)variance. The emulator allows efficient screening to identify important model inputs and better understanding of the complex behaviour of the rabies model.

Social psychological aspects of rape: a study of recorded rape and images of rape victimisation

This thesis is organised into four parts. In Part 1 relevant literature is reviewed and presented in three chapters. Chapter 1 examines legal and cultural factors in identifying the. boundaries of rape. Chapter 2 discusses idiographic features· and causal characteristics of rape suspects and victims. Chapter 3 reviews the evidence relating to attitudes toward rape,. attribution of responsibility to victims and the routine management of rape cases by the police. Part II comprises an experimental investigation of observer perception of the victims of violent crime. The experiment, examined the processes by which impressions were attributed to victims of personal crime. The results suggested that discrepancies from observers' stereotypes were an important factor in their polarisation of victim ratings. The relevance of. examining . both the structure and process of' impression, formation was highlighted. Part III describes an extensive field study in which the West. Midlands police files on rape for an eight year period (1071-1978) were analysed. The study revealed a large number of interesting findings related to a wide range of relevant features of the crime. Further, the impact .of common misconceptions and "myths" of rape were investigated across the legal and judicial processing of rape cases. The evidence suggests that these "myths" lead·to differential biasing effects at different stages in the process. In the final part of this thesis,. salient issues raised by the experiment and field study .are discussed·within the framework outlined in Part 1. Potential implications for future developments and research: are presented.

Evaluating and improving the performance of video content distribution in lossy networks

The contributions in this research are split in to three distinct, but related, areas. The focus of the work is based on improving the efficiency of video content distribution in the networks that are liable to packet loss, such as the Internet. Initially, the benefits and limitations of content distribution using Forward Error Correction (FEC) in conjunction with the Transmission Control Protocol (TCP) is presented. Since added FEC can be used to reduce the number of retransmissions, the requirement for TCP to deal with any losses is greatly reduced. When real-time applications are needed, delay must be kept to a minimum, and retransmissions not desirable. A balance, therefore, between additional bandwidth and delays due to retransmissions must be struck. This is followed by the proposal of a hybrid transport, specifically for H.264 encoded video, as a compromise between the delay-prone TCP and the loss-prone UDP. It is argued that the playback quality at the receiver often need not be 100% perfect, providing a certain level is assured. Reliable TCP is used to transmit and guarantee delivery of the most important packets. The delay associated with the proposal is measured, and the potential for use as an alternative to the conventional methods of transporting video by either TCP or UDP alone is demonstrated. Finally, a new objective measurement is investigated for assessing the playback quality of video transported using TCP. A new metric is defined to characterise the quality of playback in terms of its continuity. Using packet traces generated from real TCP connections in a lossy environment, simulating the playback of a video is possible, whilst monitoring buffer behaviour to calculate pause intensity values. Subjective tests are conducted to verify the effectiveness of the metric introduced and show that the results of objective and subjective scores made are closely correlated.

The water use rates of reedbed and wet woodland habitats

To create hydrologically sustainable wetlands, knowledge of the water use requirements of target habitats must be known. Extensive literature reviews highlighted a dearth of water-use data associated with large reedbeds and wet woodland habitats and in response to this field experiments were established. Field experiments to measure the water use rates of large reedbeds [ET(Reed)] were completed at three sites within the UK. Reference Crop Evapotranspiration [ETo] was calculated and mean monthly crop coefficients [Kc(Reed)] were developed. Kc(Reed) was less than 1 during the growing season (March to September), ranging between 0.22 in March and reaching a peak of 0.98 in June. The developed coefficients compare favourably with published data from other large reedbed systems and support the premise that the water use of large reedbeds is lower than that from small/fringe reedbeds. A methodology for determining water use rates from wet woodland habitats (UK NVC Code: W6) is presented, in addition to provisional ET(W6) rates for two sites in the UK. Reference Crop Evapotranspiration [ETo] data was used to develop Kc(W6) values which ranged between 0.89 (LV Lysimeter 1) and 1.64 (CH Lysimeter 2) for the period March to September. The data are comparable with relevant published data and show that the water use rates of wet woodland are higher than most other wetland habitats. Initial observations suggest that water use is related to the habitat’s establishment phase and the age and size of the canopy tree species. A theoretical case study presents crop coefficients associated with wetland habitats and provides an example water budget for the creation of a wetland comprising a mosaic of wetland habitats. The case study shows the critical role that the water use of wetland habitats plays within a water budget.

A theoretical investigation into the ultimate strength in bending and torsion of plain and reinforced concrete members

Presented in this thesis are original theoretical solutions for the determination of the ultimate strength in bending and torsion for: a) Plain concrete members. (b) Concrete members reinforced with longitudinal steel only. (c) Concrete members reinforced with longitudinal and transverse steel at yield. (d) Concrete members reinforced with longitudinal and transverse steel, where partial yielding and non yielding occurs. The theories are compared with available experimental results and show reasonable agreement.

Agent Based Models of Competition and Collaboration

Swarm intelligence is a popular paradigm for algorithm design. Frequently drawing inspiration from natural systems, it assigns simple rules to a set of agents with the aim that, through local interactions, they collectively solve some global problem. Current variants of a popular swarm based optimization algorithm, particle swarm optimization (PSO), are investigated with a focus on premature convergence. A novel variant, dispersive PSO, is proposed to address this problem and is shown to lead to increased robustness and performance compared to current PSO algorithms. A nature inspired decentralised multi-agent algorithm is proposed to solve a constrained problem of distributed task allocation. Agents must collect and process the mail batches, without global knowledge of their environment or communication between agents. New rules for specialisation are proposed and are shown to exhibit improved eciency and exibility compared to existing ones. These new rules are compared with a market based approach to agent control. The eciency (average number of tasks performed), the exibility (ability to react to changes in the environment), and the sensitivity to load (ability to cope with differing demands) are investigated in both static and dynamic environments. A hybrid algorithm combining both approaches, is shown to exhibit improved eciency and robustness. Evolutionary algorithms are employed, both to optimize parameters and to allow the various rules to evolve and compete. We also observe extinction and speciation. In order to interpret algorithm performance we analyse the causes of eciency loss, derive theoretical upper bounds for the eciency, as well as a complete theoretical description of a non-trivial case, and compare these with the experimental results. Motivated by this work we introduce agent "memory" (the possibility for agents to develop preferences for certain cities) and show that not only does it lead to emergent cooperation between agents, but also to a signicant increase in efficiency.

Leadership research and cognitive neuroscience:the state of this union

Advances in cognitive neuroscience and other approaches to understanding human behavior from a biological standpoint are only now beginning to filter into leadership research. The purpose of this introduction to the Leadership Quarterly Special Issue on the Biology of Leadership is to outline the organizational cognitive neuroscience approach to leadership research, and show how such an approach can fruitfully inform both leadership and neuroscientific research. Indeed, we advance the view that the further application of cognitive neuroscientific techniques to leadership research will pay great dividends in our understanding of effective leadership behaviors and as such, a future symbiosis between the two fields is a necessity.

Disentangle contextual and permanent individual motivations:an application to shopping behavior

Past studies resulted in conflicting definitions of consumer motivation. On the one hand, motivations are seen as the consumer’s characteristics that shape her general behavior (motivational trait). On the other hand, they are seen as contextual variables representing the reason why the individual is behaving specific to today’s context (motivational state). The objective of this research is to stress the difference between these two concepts and to understand the impact of each on consumer behavior. We applied our empirical study to shopping motivations; our results show a strong interaction between motivational trait and motivational state. Problem and Hypothesis On the one hand, Westbrook and Black (1985) consider shopping motivations as individual permanent characteristics. This concept is shared by other researchers (Rohm and Swaminathan 2004), which show that some shoppers are functional (they shop for convenience, information seeking, and time saving) while some others are hedonic (they shop for social interaction, bargain hunting and browsing). On the other hand, Kaltcheva and Weitz (2006) define motivations as a contextual orientation changing over time, depending on the situation, and show that contextual shopping motivations have a strong impact on shopping behavior. From our knowledge, no research specifically examined the respective impact of both these shopping motivation types. To deal with this issue, we used the notions of “traits” and “states” that have been largely used in marketing research to designate respectively a permanent characteristic of the individual and a temporary orientation of the consumer (Mowen 2000). The reversal theory (Apter 2001) suggests that two opposite states exist: the telic and the paratelic states. In the telic state, individuals set goals for themselves, must be disciplined to reach these goals, and do not behave in accordance with their personal trait. In the paratelic state, individuals are seeking arousal and enjoyment, do not set rules, and one could postulate that they act in accordance with their natural tendencies. Based on these considerations, we hypothesize the following process: in situations involving paratelic states, hedonic as well as functional individuals should behave according to their natural traits, whereas in situations involving telic states, hedonic people should inhibit their natural propensity to enjoy shopping and behave similarly to functional people. Hence, we postulate the following: Hypothesis: Compared to shoppers with functional motivational trait, shoppers with hedonic motivational trait will a) significantly display more hedonic shopping behavior intentions in a condition of paratelic motivational state, and b) not display more hedonic shopping behavior intentions in a condition a telic motivational state Empirical Research First, 108 participants were asked to fill a multi-items scale about their shopping habits, which actually measured their shopping motivational traits. This questionnaire allowed us to highlight four different dimensions in shopping motivational traits: social interaction, novelty/utility seeking, bargain hunting, and browsing. According to their scores on different items, participants were classified as functional or as hedonic on each of these four dimensions (a single individual may be hedonic on some dimensions and functional on others). Then, participants were then induced to adopt either a telic or a paratelic shopping motivational state while reading an appropriate scenario. Finally, participants were asked for their shopping behavior intentions in response to the shopping context. Four items were developed, corresponding to the four shopping motivational trait dimensions we found with our factor analysis. Results As we found four dimensions in shopping motivational trait, we set up four quasi-experimental designs to capture the entire phenomenon: for each dimension, a 2 (motivational trait) x 2 (motivational state) design was built, where the dependant variable was the shopping behavior element corresponding to the studied dimension. Four 2 x 2 Anovas were performed to assess the interaction between motivational trait and motivational state. Concerning the three dimensions - browsing, novelty/utility seeking, and bargain hunting- , in the paratelic state scenario participants with hedonic motivational trait displayed significantly more hedonic shopping behavior intentions than participants with a functional motivational trait (resp. F = 9.701, p = .003; F = 4.979, p = .03; F = 5.757, p = .02); and in the telic state scenario, there was no significant difference in behavior intentions between participants with hedonic or functional motivation trait. Each time, the interaction effect between motivational state and motivational trait was significant (resp. F = 4.859, p = .03; F = 3.314, p = .07; F = 2.98, p = .08). Concerning the fourth dimension, social interaction, shopping behavior intentions of participants with hedonic and with functional motivational traits were significantly different in the paratelic state scenario (F = 29.898, p <.000) as well as in the telic state scenario (F = 9.559, p = .003). However, the interaction effect showed that this behavioral difference was significantly stronger in the paratelic scenario. All these results support our research hypothesis. Discussion and Implications Our study provides consistent support for our hypotheses saying that there is an interaction effect between shopping motivational states and shopping motivational traits. The generalization of the results is strengthened by the study of four different shopping traits: social interaction, novelty/utility seeking, bargain hunting and browsing. As we proposed, when shopping in a goal-oriented state (telic state), behaviors of hedonic and functional shoppers do not differ significantly. Conversely, when shopping for a recreational reason (paratelic state), hedonic and functional shoppers behave significantly different. These results could explain why some previous studies concluded that shopping motivational traits had no impact on shopping behavior: they did not take into consideration the interaction between motivational trait and motivational state. Moreover, our study shows that marketing surveys performed by store managers to draw the personal profile of their customers must be crossed with contextual motivations in order to accurately forecast shopper behavior. Future Developments Our results can be explained by the self-control process, which pushes hedonic-trait shoppers to behave in a rather functional way in utilitarian situations. However, to be certain that this is the very process that occurs, we plan to add self-control perception scales to our existing measures. This is obviously the next step of this research.

Drawing association rules between purchases and in-store behavior:an extension of the market basket analysis

Shopping behavior is often exclusively studied through consumer purchases, since they are an easily measurable ouput. Still, the observation of in-store physical behavior (paths, moves and actions) is crucial, as is the quantification of its impact on purchases. Using an innovative PDA tool to precisely record and time stamp consumer’s moves and gestures, we extend the classical Market Basket Analysis (MBA) by integrating this new kind of information. We draw associations not only from purchases but also from in-store consumer moves and actions. We compare results of our new method with classical MBA results and show a significant improvement.

Drawing association rules between purchases and in-store behaviour:an extension of the market basket analysis

Shopping behavior is often exclusively studied through consumer purchases, since they are an easily measurable ouput. Still, the observation of in-store physical behavior (path, moves and actions) is crucial, as is the quantification of its impact on purchases. Using an innovative PDA tool to precisely record and time stamp consumers' moves and actions, we extend the classical Market Basket Analysis (MBA) by integrating this new information: associations between product categories are measured not only from purchases but also from consumer physical behavior. We compare results of our new method with classical MBA results and show a significant improvement.