Modelo telegráfico de valoración de opciones

En este trabajo construimos un modelo de mercado financiero basado en un proceso telegráfico más un proceso de saltos para la valoración de opciones Europeas. Vamos a asumir que el tamaño de los saltos es constante y después que es aleatorio, en ambos casos estos saltos ocurren cuando la tendencia del mercado cambia. Estos modelos capturan la dinámica del mercado en periodos con presencia de ciclos financieros. Mostraremos la estructura del conjunto de medidas neutrales al riesgo, además, de fórmulas explícitas para los precios de las opciones Europeas de venta y compra.

La responsabilidad patrimonial del Estado por la falla en la prestación del servicio médico asistencial. Acto médico defectuoso en las entidades de salud del Estado. -Una visión desde la doctrina y desarrollo jurisprudencial del Consejo de Estado-.

La complejidad que supone abarcar el estudio de la responsabilidad patrimonial del Estado en el ámbito médico sanitario, hace preciso prestar atención a ciertos temas que resultan especialmente relevantes y que han sido decantados jurisprudencialmente por el Honorable Consejo de Estado. De esta manera el presente trabajo desarrolla temas descollantes y novedosos en materia de imputabilidad como viene a ser la prueba de la falla médica mediante la teoría "res ipsa loquitur"; la prueba del nexo causal a través de la prueba indiciaria y la teoría de la probabilidad preponderante. Así mismo se estudian los diversos tipos de daños antijurídicos que pueden darse dentro de la prestación médica a cargo del Estado, destacando especialmente la lesión al derecho a recibir una atención oportuna y eficaz, la pérdida de una oportunidad debida a la no obtención del consentimiento informado del paciente, lo que supone, a su vez, el cercenamiento del derecho de este a elegir someterse o no a determinado tratamiento, previo valoración de pros y contras de la terapia sugerida por el galeno (principio de no agravación). Así mismo se analizanlas hipótesis de daños antijurídicos derivados del error en el diagnóstico, la falla por la omisión de las entidades de control y vigilancia, falla en gineco-obstetricia, así como las hipótesis de responsabilidad objetiva del Estado por óblito quirúrgico, para finalmente tratar el tema novedoso del alea terapéutica con sus particulares características y eventual aplicabilidad en el sistema jurídico colombiano.

PTPN22 Association in Systemic Lupus Erythematosus (SLE) with Respect to Individual Ancestry and Clinical Sub-Phenotypes

Protein tyrosine phosphatase non-receptor type 22 (PTPN22) is a negative regulator of T-cell activation associated with several autoimmune diseases, including systemic lupus erythematosus (SLE). Missense rs2476601 is associated with SLE in individuals with European ancestry. Since the rs2476601 risk allele frequency differs dramatically across ethnicities, we assessed robustness of PTPN22 association with SLE and its clinical subphenotypes across four ethnically diverse populations. Ten SNPs were genotyped in 8220 SLE cases and 7369 controls from in European-Americans (EA), African-Americans (AA), Asians (AS), and Hispanics (HS). We performed imputation-based association followed by conditional analysis to identify independent associations. Significantly associated SNPs were tested for association with SLE clinical sub-phenotypes, including autoantibody profiles. Multiple testing was accounted for by using false discovery rate. We successfully imputed and tested allelic association for 107 SNPs within the PTPN22 region and detected evidence of ethnic-specific associations from EA and HS. In EA, the strongest association was at rs2476601 (P = 4.761029, OR = 1.40 (95% CI = 1.25–1.56)). Independent association with rs1217414 was also observed in EA, and both SNPs are correlated with increased European ancestry. For HS imputed intronic SNP, rs3765598, predicted to be a cis-eQTL, was associated (P = 0.007, OR = 0.79 and 95% CI = 0.67–0.94). No significant associations were observed in AA or AS. Case-only analysis using lupus-related clinical criteria revealed differences between EA SLE patients positive for moderate to high titers of IgG anti-cardiolipin (aCL IgG .20) versus negative aCL IgG at rs2476601 (P = 0.012, OR = 1.65). Association was reinforced when these cases were compared to controls (P = 2.761025, OR = 2.11). Our results validate that rs2476601 is the most significantly associated SNP in individuals with European ancestry. Additionally, rs1217414 and rs3765598 may be associated with SLE. Further studies are required to confirm the involvement of rs2476601 with aCL IgG.

Preferential binding to elk-1 by sle-associated il10 risk allele upregulates il10 expression

Immunoregulatory cytokine interleukin-10 (IL-10) is elevated in sera from patients with systemic lupus erythematosus (SLE) correlating with disease activity. The established association of IL10 with SLE and other autoimmune diseases led us to fine map causal variant(s) and to explore underlying mechanisms. We assessed 19 tag SNPs, covering the IL10 gene cluster including IL19, IL20 and IL24, for association with SLE in 15,533 case and control subjects from four ancestries. The previously reported IL10 variant, rs3024505 located at 1 kb downstream of IL10, exhibited the strongest association signal and was confirmed for association with SLE in European American (EA) (P = 2.7×10−8, OR = 1.30), but not in non-EA ancestries. SNP imputation conducted in EA dataset identified three additional SLE-associated SNPs tagged by rs3024505 (rs3122605, rs3024493 and rs3024495 located at 9.2 kb upstream, intron 3 and 4 of IL10, respectively), and SLE-risk alleles of these SNPs were dose-dependently associated with elevated levels of IL10 mRNA in PBMCs and circulating IL-10 protein in SLE patients and controls. Using nuclear extracts of peripheral blood cells from SLE patients for electrophoretic mobility shift assays, we identified specific binding of transcription factor Elk-1 to oligodeoxynucleotides containing the risk (G) allele of rs3122605, suggesting rs3122605 as the most likely causal variant regulating IL10 expression. Elk-1 is known to be activated by phosphorylation and nuclear localization to induce transcription. Of interest, phosphorylated Elk-1 (p-Elk-1) detected only in nuclear extracts of SLE PBMCs appeared to increase with disease activity. Co-expression levels of p-Elk-1 and IL-10 were elevated in SLE T, B cells and monocytes, associated with increased disease activity in SLE B cells, and were best downregulated by ERK inhibitor. Taken together, our data suggest that preferential binding of activated Elk-1 to the IL10 rs3122605-G allele upregulates IL10 expression and confers increased risk for SLE in European Americans.

Trans-Ancestral Studies Fine Map the SLE-Susceptibility Locus TNFSF4

We previously established an 80 kb haplotype upstream of TNFSF4 as a susceptibility locus in the autoimmune disease SLE. SLE-associated alleles at this locus are associated with inflammatory disorders, including atherosclerosis and ischaemic stroke. In Europeans, the TNFSF4 causal variants have remained elusive due to strong linkage disequilibrium exhibited by alleles spanning the region. Using a trans-ancestral approach to fine-map the locus, utilising 17,900 SLE and control subjects including Amerindian/Hispanics (1348 cases, 717 controls), African-Americans (AA) (1529, 2048) and better powered cohorts of Europeans and East Asians, we find strong association of risk alleles in all ethnicities; the AA association replicates in African-American Gullah (152,122). The best evidence of association comes from two adjacent markers: rs2205960-T (P = 1.71×10-34, OR = 1.43[1.26-1.60]) and rs1234317-T (P = 1.16×10-28, OR = 1.38[1.24-1.54]). Inference of fine-scale recombination rates for all populations tested finds the 80 kb risk and non-risk haplotypes in all except African-Americans. In this population the decay of recombination equates to an 11 kb risk haplotype, anchored in the 5′ region proximal to TNFSF4 and tagged by rs2205960-T after 1000 Genomes phase 1 (v3) imputation. Conditional regression analyses delineate the 5′ risk signal to rs2205960-T and the independent non-risk signal to rs1234314-C. Our case-only and SLE-control cohorts demonstrate robust association of rs2205960-T with autoantibody production. The rs2205960-T is predicted to form part of a decameric motif which binds NF-κBp65 with increased affinity compared to rs2205960-G. ChIP-seq data also indicate NF-κB interaction with the DNA sequence at this position in LCL cells. Our research suggests association of rs2205960-T with SLE across multiple groups and an independent non-risk signal at rs1234314-C. rs2205960-T is associated with autoantibody production and lymphopenia. Our data confirm a global signal at TNFSF4 and a role for the expressed product at multiple stages of lymphocyte dysregulation during SLE pathogenesis. We confirm the validity of trans-ancestral mapping in a complex trait. © 2013 Manku et al.

La responsabilidad del Estado por el hecho del legislador

Analizar el fenómeno de la responsabilidad del Estado causada por los hechos del legislador ha sido un trabajo desarrollado tanto por la doctrina como por la jurisprudencia internacional a mediados del siglo xx. En Francia, por ejemplo, se presentó el primer antecedente jurisprudencial en el año de 1934. En España, su estudio empezó a gestionarse con la promulgación de la Constitución de 1978, dándose el primer fallo judicial en elaño de 1993. Para el caso colombiano, la Constitución de 1991 introdujo en su artículo 90 el fundamento constitucional de la responsabilidad patrimonial del Estado, sin que esto significase que la jurisprudencia del Consejo de Estado encontrase las bases de esta responsabilidad en diferentes disposiciones de la Constitución de 1886, tales como los artículos 2º, 16 y 30, que consagró el principio de legalidad del Estado para proteger la vida, honra y bienes de los ciudadanos, y garantizar la propiedad privada y los demás derechos adquiridos con el título de derecho. Sin embargo, los primeros fallos relacionados con este título de imputación en Colombia fueron emitidos por el máximo Tribunal de lo Contencioso Administrativo colombiano en el año de 1998 y por la Corte Constitucional a través de la Sentencia C-038 de 2006, providencia judicial que estableció algunas de las características que posee esta figura jurídica.

Option pricing in market models driven by telegraph processes with jumps

Esta tesis está dividida en dos partes: en la primera parte se presentan y estudian los procesos telegráficos, los procesos de Poisson con compensador telegráfico y los procesos telegráficos con saltos. El estudio presentado en esta primera parte incluye el cálculo de las distribuciones de cada proceso, las medias y varianzas, así como las funciones generadoras de momentos entre otras propiedades. Utilizando estas propiedades en la segunda parte se estudian los modelos de valoración de opciones basados en procesos telegráficos con saltos. En esta parte se da una descripción de cómo calcular las medidas neutrales al riesgo, se encuentra la condición de no arbitraje en este tipo de modelos y por último se calcula el precio de las opciones Europeas de compra y venta.

Aplicación en Colombia de la responsabilidad internacional agravada del Estado por violaciones graves a Derechos Humanos

Al igual que ocurre en los regímenes de responsabilidad Estatal internacional y Regional -SIDH-, donde se hace una distinción entre los hechos ilícitos internacionales y las violaciones a normas Ius cogens, se plantea la posibilidad de aplicar en el régimen interno de responsabilidad estatal la denominada “responsabilidad internacional agravada”, en aquellos casos específicos de violaciones graves a derechos humanos, dada la necesidad de establecer la aludida distinción frente a la imputación del daño al Estado en ese tipo de casos.

Business cycle asymmentries: An investment cost approach

In this paper, investment cost asymmetry is introduced in order to test wheter this kind of asymmetry can account for asymmetries in business cycles. By using a smooth transition function, asymmetric investment cost is modeled and introduced in a canonical RBC model. Simulations of the model with Perturbations Method (PM) are very close to simulations through Parameterized Expectations Algorithm (PEA), which allows the use of the former for the sake of time reduction and computational costs. Both symmetric and asymmetric models were simulated and compared. Deterministic and stochastic impulse-response excersices revealed that it is possible to adequately reproduce asymmetric business cycles by modeling asymmetric investment costs. Simulations also showed that higher order moments are insu_cient to detect asymmetries. Instead, methods such as Generalized Impulse Response Analysis (GIRA) and Nonlinear Econometrics prove to be more e_cient diagnostic tools.

Application of cognitive diagnosis models to competency-based situational judgment tests

Resumen tomado de la publicaci??n

A Monte Carlo method for accelerating the computation of animated radiosity sequences

Realistic rendering animation is known to be an expensive processing task when physically-based global illumination methods are used in order to improve illumination details. This paper presents an acceleration technique to compute animations in radiosity environments. The technique is based on an interpolated approach that exploits temporal coherence in radiosity. A fast global Monte Carlo pre-processing step is introduced to the whole computation of the animated sequence to select important frames. These are fully computed and used as a base for the interpolation of all the sequence. The approach is completely view-independent. Once the illumination is computed, it can be visualized by any animated camera. Results present significant high speed-ups showing that the technique could be an interesting alternative to deterministic methods for computing non-interactive radiosity animations for moderately complex scenarios

Les grans infrastructures de transport i el desenvolupament de la ciutat mitjana. El Tren d'Alta Velocitat a les ciutats de Lleida, Avinyó i Novara

L'objectiu central de la tesi és estudiar els processos que permeten aconseguir un desenvolupament local a llarg termini de les ciutats mitjanes a partir de la implantació d'una gran infrastructura com el Tren d'Alta Velocitat (TAV). Es parteix de la hipòtesi que el desenvolupament local urbà a partir del TAV depèn de factors objectius i de factors subjectius (dels subjectes), uns factors que prenen una forma particular en el desenvolupament de les ciutats mitjanes. La tesi es divideix en una primera part teòrica i segona de més aplicada. Diversos autors han arribat a la conclusió que la relació tradicional que s'ha donat entre les infrastructures de transport i territori parteix d'uns paradigmes deterministes, que s'exemplifiquen amb una relació de "causa-efecte". Per aquest motiu, s'han criticat els estudis sobre els efectes socioeconòmics de les infrastructures de transport, així com el mateix concepte d'"efecte". Aquesta crítica es repeteix els estudis sobre el TAV i les ciutats mitjanes, que arriben a la conclusió que el desenvolupament econòmic no és un fet automàtic i que no es poden predir les conseqüències a mig i llarg termini del TAV. El desenvolupament local a partir del TAV, doncs, estaria relacionat amb tres elements principals. En primer lloc, entendre que la ciutat -i el territori- és un fenomen complex i, com a tal, cal abordar-lo des de la teoria dels sistemes complexos. En segon lloc, la gran infrastructura ha de convertir-se en un recurs endogen (interconnexió amb la xarxa local d'actors i territorialització en el milieu de la ciutat) per a que pugui contribuir al desenvolupament. En tercer lloc, la dinàmica de governance dels actors és primordial, i es divideix en la gestió interna de la xarxa local (projecte local) i la gestió multinivell de les administracions. En base als referents teòrics, es construeix una metodologia per avaluar el grau de desenvolupament local que ha comportat el TAV en tres ciutats mitjanes de l'arc mediterrani europeu, Lleida, Avinyó i Novara, situades respectivament a Espanya, França i Itàlia. La metodologia preveu l'estudi d'aspectes tècnics de la ciutat com els de transport (Posició territorial de la ciutat a partir del TAV, Característiques de l'estació TAV), urbanístics (Model urbanístic a escala municipal/urbana, Model urbanístic a escala de l'estació) i econòmics (Diferents projectes econòmics de la ciutat relacionats amb el TAV). També preveu l'estudi d'aspectes organitzatius externs (Els agents supralocals i els seus projectes, Grau de conflictivitat i cooperació en les relacions dels agents locals i supralocals) i interns (Capacitat de creació d'un projecte de ciutat a partir del TAV, Agents que participen en el projecte local i la seva dinàmica, Àmbit territorial dels projectes). Finalment s'efectua una avaluació del procés i dels resultats del desenvolupament local. Com a conclusió es demostra que el procés de desenvolupament local a partir de les grans infrastructures de transport depèn, en bon part, de la capacitat de governance. Depèn, per un cantó, de la capacitat dels agents locals d'elaborar un projecte de desenvolupament i liderar unes estratègies d'aprofitament i, de l'altre, de la capacitat dels agents del territori (estatals, regionals, locals) de crear aliances i cooperació per planificar la infrastructura de transport. Finalment es presenten un seguit de recomanacions a les ciutats que volen planificar l'arribada del TAV per a que contribueixi a un desenvolupament amb les característiques d'eficàcia, sostenibilitat, productivitat i equitat.

Modelling, control and supervision for a class of hybrid systems

The aim of this thesis is to narrow the gap between two different control techniques: the continuous control and the discrete event control techniques DES. This gap can be reduced by the study of Hybrid systems, and by interpreting as Hybrid systems the majority of large-scale systems. In particular, when looking deeply into a process, it is often possible to identify interaction between discrete and continuous signals. Hybrid systems are systems that have both continuous, and discrete signals. Continuous signals are generally supposed continuous and differentiable in time, since discrete signals are neither continuous nor differentiable in time due to their abrupt changes in time. Continuous signals often represent the measure of natural physical magnitudes such as temperature, pressure etc. The discrete signals are normally artificial signals, operated by human artefacts as current, voltage, light etc. Typical processes modelled as Hybrid systems are production systems, chemical process, or continuos production when time and continuous measures interacts with the transport, and stock inventory system. Complex systems as manufacturing lines are hybrid in a global sense. They can be decomposed into several subsystems, and their links. Another motivation for the study of Hybrid systems is the tools developed by other research domains. These tools benefit from the use of temporal logic for the analysis of several properties of Hybrid systems model, and use it to design systems and controllers, which satisfies physical or imposed restrictions. This thesis is focused in particular types of systems with discrete and continuous signals in interaction. That can be modelled hard non-linealities, such as hysteresis, jumps in the state, limit cycles, etc. and their possible non-deterministic future behaviour expressed by an interpretable model description. The Hybrid systems treated in this work are systems with several discrete states, always less than thirty states (it can arrive to NP hard problem), and continuous dynamics evolving with expression: with Ki ¡ Rn constant vectors or matrices for X components vector. In several states the continuous evolution can be several of them Ki = 0. In this formulation, the mathematics can express Time invariant linear system. By the use of this expression for a local part, the combination of several local linear models is possible to represent non-linear systems. And with the interaction with discrete events of the system the model can compose non-linear Hybrid systems. Especially multistage processes with high continuous dynamics are well represented by the proposed methodology. Sate vectors with more than two components, as third order models or higher is well approximated by the proposed approximation. Flexible belt transmission, chemical reactions with initial start-up and mobile robots with important friction are several physical systems, which profits from the benefits of proposed methodology (accuracy). The motivation of this thesis is to obtain a solution that can control and drive the Hybrid systems from the origin or starting point to the goal. How to obtain this solution, and which is the best solution in terms of one cost function subject to the physical restrictions and control actions is analysed. Hybrid systems that have several possible states, different ways to drive the system to the goal and different continuous control signals are problems that motivate this research. The requirements of the system on which we work is: a model that can represent the behaviour of the non-linear systems, and that possibilities the prediction of possible future behaviour for the model, in order to apply an supervisor which decides the optimal and secure action to drive the system toward the goal. Specific problems can be determined by the use of this kind of hybrid models are: - The unity of order. - Control the system along a reachable path. - Control the system in a safe path. - Optimise the cost function. - Modularity of control The proposed model solves the specified problems in the switching models problem, the initial condition calculus and the unity of the order models. Continuous and discrete phenomena are represented in Linear hybrid models, defined with defined eighth-tuple parameters to model different types of hybrid phenomena. Applying a transformation over the state vector : for LTI system we obtain from a two-dimensional SS a single parameter, alpha, which still maintains the dynamical information. Combining this parameter with the system output, a complete description of the system is obtained in a form of a graph in polar representation. Using Tagaki-Sugeno type III is a fuzzy model which include linear time invariant LTI models for each local model, the fuzzyfication of different LTI local model gives as a result a non-linear time invariant model. In our case the output and the alpha measure govern the membership function. Hybrid systems control is a huge task, the processes need to be guided from the Starting point to the desired End point, passing a through of different specific states and points in the trajectory. The system can be structured in different levels of abstraction and the control in three layers for the Hybrid systems from planning the process to produce the actions, these are the planning, the process and control layer. In this case the algorithms will be applied to robotics ¡V a domain where improvements are well accepted ¡V it is expected to find a simple repetitive processes for which the extra effort in complexity can be compensated by some cost reductions. It may be also interesting to implement some control optimisation to processes such as fuel injection, DC-DC converters etc. In order to apply the RW theory of discrete event systems on a Hybrid system, we must abstract the continuous signals and to project the events generated for these signals, to obtain new sets of observable and controllable events. Ramadge & Wonham¡¦s theory along with the TCT software give a Controllable Sublanguage of the legal language generated for a Discrete Event System (DES). Continuous abstraction transforms predicates over continuous variables into controllable or uncontrollable events, and modifies the set of uncontrollable, controllable observable and unobservable events. Continuous signals produce into the system virtual events, when this crosses the bound limits. If this event is deterministic, they can be projected. It is necessary to determine the controllability of this event, in order to assign this to the corresponding set, , controllable, uncontrollable, observable and unobservable set of events. Find optimal trajectories in order to minimise some cost function is the goal of the modelling procedure. Mathematical model for the system allows the user to apply mathematical techniques over this expression. These possibilities are, to minimise a specific cost function, to obtain optimal controllers and to approximate a specific trajectory. The combination of the Dynamic Programming with Bellman Principle of optimality, give us the procedure to solve the minimum time trajectory for Hybrid systems. The problem is greater when there exists interaction between adjacent states. In Hybrid systems the problem is to determine the partial set points to be applied at the local models. Optimal controller can be implemented in each local model in order to assure the minimisation of the local costs. The solution of this problem needs to give us the trajectory to follow the system. Trajectory marked by a set of set points to force the system to passing over them. Several ways are possible to drive the system from the Starting point Xi to the End point Xf. Different ways are interesting in: dynamic sense, minimum states, approximation at set points, etc. These ways need to be safe and viable and RchW. And only one of them must to be applied, normally the best, which minimises the proposed cost function. A Reachable Way, this means the controllable way and safe, will be evaluated in order to obtain which one minimises the cost function. Contribution of this work is a complete framework to work with the majority Hybrid systems, the procedures to model, control and supervise are defined and explained and its use is demonstrated. Also explained is the procedure to model the systems to be analysed for automatic verification. Great improvements were obtained by using this methodology in comparison to using other piecewise linear approximations. It is demonstrated in particular cases this methodology can provide best approximation. The most important contribution of this work, is the Alpha approximation for non-linear systems with high dynamics While this kind of process is not typical, but in this case the Alpha approximation is the best linear approximation to use, and give a compact representation.

Socio-cultural visions of interactivity within Museums

The ideas on which this paper is based are drawn from my thesis “Interactivity in Museums. A Relationship Building Perspective” written in 2007 for the fulfillment of the Master Degree in Museology at the Reinwardt Academy in Amsterdam. The main arguments are that the notion of Interactivity conceptualized within a technological orientation coupled with the pedagogic approach of mere information transmission need to be reconsidered; that Interactivity in museums is a conception both misinterpreted and under-implemented; and that the problems of understanding Interactivity will resolve by identifying the aspects which define Interactivity and most importantly focus on why they matter in a broader socio-cultural context within museums. Without an intention to attribute all the developments and advances associated with new museological practice, in some deterministic way, solely to politics and economic change, I argue that the new strategies adopted by museums towards progression and broader accessibility –at least regarding interactivity, seem to be linked more with a dominant commercialization of culture and education, than with a belief towards an effect on social change through the promotion of social interaction within a pluralistic and multicultural society, acknowledging the diversity of nature, opinion and practices, which can be combined instead of contrasting each other.

El levantamiento del velo en la doctrina y la jurisprudencia ecuatoriana

La persona jurídica es un centro de imputación diferenciado, en el cual se limita la responsabilidad patrimonial de quienes se asocian. sin embargo, a veces esta figura puede ser mal utilizada para alcanzar metas prohibidas por la ley o para perjudicar a terceros. La legislación ha previsto mecanismos para evitar esta utilización indebida de la persona jurídica, pero, excepcionalmente, se dan casos en que la solución legislativa no es suficiente, por lo que, partiendo de los principios generales del derecho de la buena fe, la lealtad y la equidad, la jurisprudencia ha desestimado la personalidad jurídica y ha llegado hasta quienes, amparándose en la figura societaria, han pretendido burlar la ley o abusar del derecho. Se ha desarrollado la teoría del regard of legal entity, que recibe muchos nombres en español (se ha preferido el de levantamiento del velo) que permite al juez, excepcionalmente, levantar el velo que separa al espectador de la realidad, a fin de imponer a los responsables del fraude o el abuso, la responsabilidad que les corresponda. en primer lugar se hace una breve exposición de la teoría, reseñando lo que han dicho los autores, para continuar examinando la situación ecuatoriana, las disposiciones legales aplicables y las sentencias en las cuales los jueces se han referido a esta teoría, y concluir señalando la naturaleza procesal de la figura, la inconveniencia de dictar una ley que la incorpore al ordenamiento jurídico y el riesgo de una utilización masiva e indiscriminada.