Optimal dividend strategies for a compound Poisson risk process under transaction costs and power utility

We characterize the value function of maximizing the total discounted utility of dividend payments for a compound Poisson insurance risk model when strictly positive transaction costs are included, leading to an impulse control problem. We illustrate that well known simple strategies can be optimal in the case of exponential claim amounts. Finally we develop a numerical procedure to deal with general claim amount distributions.

Group selection and kin selection: two concepts but one process.

In a recent paper, Traulsen and Nowak use a multilevel selection model to show that cooperation can be favored by group selection in finite populations [Traulsen A, Nowak M (2006) Proc Natl Acad Sci USA 103:10952-10955]. The authors challenge the view that kin selection may be an appropriate interpretation of their results and state that group selection is a distinctive process "that permeates evolutionary processes from the emergence of the first cells to eusociality and the economics of nations." In this paper, we start by addressing Traulsen and Nowak's challenge and demonstrate that all their results can be obtained by an application of kin selection theory. We then extend Traulsen and Nowak's model to life history conditions that have been previously studied. This allows us to highlight the differences and similarities between Traulsen and Nowak's model and typical kin selection models and also to broaden the scope of their results. Our retrospective analyses of Traulsen and Nowak's model illustrate that it is possible to convert group selection models to kin selection models without disturbing the mathematics describing the net effect of selection on cooperation.

Estudio sobre los procesos de integración laboral de los inmigrantes. Study of immigrants' labour integration process

El presente trabajo pretende mostrar los resultados de un estudio cuya intención era identificar posibles variables que afectan a los procesos y estrategias de integración laboral de personas procedentes de otros países; las necesidades formativas en relación al colectivo de referencia y ampliar el conocimiento del fenómeno en aras de la intervención psicoeducativa y social. A partir de una metodología de investigación de orientación cualitativa se ha concluido que las diferencias en cuanto a las estrategias de integración y sus logros están más determinadas por los niveles de cualificación en el país de origen que por las propias diferencias culturales. The article shows the results of a study carried out by the authors to identify possible variables that affect the processes and strategies of occupational integration of people coming from other countries, to establish training needs in relation to the reference group and to extend the knowledge of the phenomenon for the sake of the educational and social intervention. Using a qualitative research methodology, it was concluded that the differences in integration strategies and their accomplishments are better explained by the levels of qualification attained in the country of origin than by cultural differences.

Estudio sobre los procesos de integración laboral de los inmigrantes. Study of immigrants' labour integration process

El presente trabajo pretende mostrar los resultados de un estudio cuya intención era identificar posibles variables que afectan a los procesos y estrategias de integración laboral de personas procedentes de otros países; las necesidades formativas en relación al colectivo de referencia y ampliar el conocimiento del fenómeno en aras de la intervención psicoeducativa y social. A partir de una metodología de investigación de orientación cualitativa se ha concluido que las diferencias en cuanto a las estrategias de integración y sus logros están más determinadas por los niveles de cualificación en el país de origen que por las propias diferencias culturales. The article shows the results of a study carried out by the authors to identify possible variables that affect the processes and strategies of occupational integration of people coming from other countries, to establish training needs in relation to the reference group and to extend the knowledge of the phenomenon for the sake of the educational and social intervention. Using a qualitative research methodology, it was concluded that the differences in integration strategies and their accomplishments are better explained by the levels of qualification attained in the country of origin than by cultural differences.

Spatial pattern and process at the plant neighbourhood scale: insights from communities dominated by the clonal grass Elymus repens (L.) Gould.

Question: How do clonal traits of a locally dominant grass (Elymus repens (L.) Gould.) respond to soil heterogeneity and shape spatial patterns of its tillers? How do tiller spatial patterns constrain seedling recruitment within the community?Locations: Artificial banks of the River Rhone, France.Material and Methods: We examined 45 vegetation patches dominated by Elymus repens. During a first phase we tested relationships between soil variables and three clonal traits (spacer length, number of clumping tillers and branching rate), and between the same clonal traits and spatial patterns (i.e. density and degree of spatial aggregation) of tillers at a very fine scale. During a second phase, we performed a sowing experiment to investigate effects of density and spatial patterns of E. repens on recruitment of eight species selected from the regional species pool.Results: Clonal traits had clear effects - especially spacer length - on densification and aggregation of E. repens tillers and, at the same time, a clear response of these same clonal traits as soil granulometry changed. The density and degree of aggregation of E. repens tillers was positively correlated to total seedling cover and diversity at the finest spatial scales.Conclusions: Spatial patterning of a dominant perennial grass responds to soil heterogeneity through modifications of its clonal morphology as a trade-off between phalanx and guerrilla forms. In turn, spatial patterns have strong effects on abundance and diversity of seedlings. Spatial patterns of tillers most probably led to formation of endogenous gaps in which the recruitment of new plant individuals was enhanced. Interestingly, we also observed more idiosyncratic effects of tiller spatial patterns on seedling cover and diversity when focusing on different growth forms of the sown species.

Debris flows as a factor of hillslope evolution controlled by a continuous or a pulse process?

Flood effectiveness observations imply that two families of processes describe the formation of debris flow volume. One is related to the rainfall?erosion relationship, and can be seen as a gradual process, and one is related to additional geological/geotechnical events, those named hereafter extraordinary events. In order to discuss the hypothesis of coexistence of two modes of volume formation, some methodologies are applied. Firstly, classical approaches consisting in relating volume to catchments characteristics are considered. These approaches raise questions about the quality of the data rather than providing answers concerning the controlling processes. Secondly, we consider statistical approaches (cumulative number of events distribution and cluster analysis) and these suggest the possibility of having two distinct families of processes. However the quantitative evaluation of the threshold differs from the one that could be obtained from the first approach, but they all agree in the sense of the coexistence of two families of events. Thirdly, a conceptual model is built exploring how and why debris flow volume in alpine catchments changes with time. Depending on the initial condition (sediment production), the model shows that large debris flows (i.e. with important volume) are observed in the beginning period, before a steady-state is reached. During this second period debris flow volume such as is observed in the beginning period is not observed again. Integrating the results of the three approaches, two case studies are presented showing: (1) the possibility to observe in a catchment large volumes that will never happen again due to a drastic decrease in the sediment availability, supporting its difference from gradual erosion processes; (2) that following a rejuvenation of the sediment storage (by a rock avalanche) the magnitude?frequency relationship of a torrent can be differentiated into two phases, the beginning one with large and frequent debris flow and a later one with debris flow less intense and frequent, supporting the results of the conceptual model. Although the results obtained cannot identify a clear threshold between the two families of processes, they show that some debris flows can be seen as pulse of sediment differing from that expected from gradual erosion.

Production of Asphalt Rubber Concrete by the Dry Process, HR-1062, 1994

Disposal of used tires has been a problem throughout the United States. The 1991 Intermodal Surface Transportation Efficiency Act (ISTEA) requires the use of recycled rubber in asphalt concrete starting in FY94. A moratorium has delayed this requirement until FY95. The Iowa DOT has researched six projects using crumb rubber modifier in asphalt concrete using the wet process. This process involves using a blender-reactor to blend the asphalt cement and crumb rubber. Using the wet process the asphalt cement has to reach a hotter temperature, than is normally required, for reaction to occur. The wet process is also much more expensive than conventional asphalt. This research deals with using a dry process to incorporate crumb rubber into the asphalt concrete mix. The project was constructed by Western Engineering of Harlan, Iowa, on IA 37 between Earling, Iowa and US 59. It was completed in September 1993. Western Engineering used a double drum mixer to produce the crumb rubber modified asphalt concrete by the dry process. The production and construction went well with minor difficulty and the dry process is a less expensive procedure for producing crumb rubber modified asphalt concrete.

Die Krankheit Depression kann jeden treffen [In Process Citation].

The survey "Datenerhebung zur Depression in der Allgemeinbevölkerung" was conducted from fall 2010 to spring 2011 on several online platforms. The results show that there is a considerable timespan between the appearance of initial symptoms of depression and the first diagnosis of a patient. Intervention at early stages of the disease can reduce a potentially long time of suffering and can lead to the successful treatment of depression. General practitioners play an important role as the link between patient and psychiatrist.

Treating Iowa's Marginal Aggregates and Soils by Foamix Process, HR-212, 1980

Quality granular materials suitable for building all-weather roads are not uniformly distributed throughout the state of Iowa. For this reason the Iowa Highway Research Board has sponsored a number of research programs for the purpose of developing new and effective methods for making use of whatever materials are locally available. This need is ever more pressing today due to the decreasing availability of road funds and quality materials, and the increasing costs of energy and all types of binder materials. In the 1950s, Professor L. H. Csanyi of Iowa State University had demonstrated both in the laboratory and in the field, in Iowa and in a number of foreign countries, the effectiveness of preparing low cost mixes by stabilizing ungraded local aggregates such as gravel, sand and loess with asphalt cements using the foamed asphalt process. In this process controlled foam was produced by introducing saturated steam at about 40 psi into heated asphalt cement at about 25 psi through a specially designed and properly adjusted nozzle. The reduced viscosity and the increased volume and surface energy in the foamed asphalt allowed intimate coating and mixing of cold, wet aggregates or soils. Through the use of asphalt cements in a foamed state, materials normally considered unsuitable could be used in the preparation of mixes for stabilized bases and surfaces for low traffic road construction. By attaching the desired number of foam nozzles, the foamed asphalt can be used in conjunction with any type of mixing plant, either stationary or mobile, batch or continuous, central plant or in-place soil stabilization.

Use of nucleoside reverse transcriptase inhibitors and risk of myocardial infarction in HIV-infected patients enrolled in the D:A:D study: a multi-cohort collaboration.

BACKGROUND: Whether nucleoside reverse transcriptase inhibitors increase the risk of myocardial infarction in HIV-infected individuals is unclear. Our aim was to explore whether exposure to such drugs was associated with an excess risk of myocardial infarction in a large, prospective observational cohort of HIV-infected patients. METHODS: We used Poisson regression models to quantify the relation between cumulative, recent (currently or within the preceding 6 months), and past use of zidovudine, didanosine, stavudine, lamivudine, and abacavir and development of myocardial infarction in 33 347 patients enrolled in the D:A:D study. We adjusted for cardiovascular risk factors that are unlikely to be affected by antiretroviral therapy, cohort, calendar year, and use of other antiretrovirals. FINDINGS: Over 157,912 person-years, 517 patients had a myocardial infarction. We found no associations between the rate of myocardial infarction and cumulative or recent use of zidovudine, stavudine, or lamivudine. By contrast, recent-but not cumulative-use of abacavir or didanosine was associated with an increased rate of myocardial infarction (compared with those with no recent use of the drugs, relative rate 1.90, 95% CI 1.47-2.45 [p=0.0001] with abacavir and 1.49, 1.14-1.95 [p=0.003] with didanosine); rates were not significantly increased in those who stopped these drugs more than 6 months previously compared with those who had never received these drugs. After adjustment for predicted 10-year risk of coronary heart disease, recent use of both didanosine and abacavir remained associated with increased rates of myocardial infarction (1.49, 1.14-1.95 [p=0.004] with didanosine; 1.89, 1.47-2.45 [p=0.0001] with abacavir). INTERPRETATION: There exists an increased risk of myocardial infarction in patients exposed to abacavir and didanosine within the preceding 6 months. The excess risk does not seem to be explained by underlying established cardiovascular risk factors and was not present beyond 6 months after drug cessation.

Bone marrow mesenchymal stem cells stabilize already-formed aortic aneurysms more efficiently than vascular smooth muscle cells in a rat model.

PURPOSE: Abdominal aortic aneurysms (AAAs) expand because of aortic wall destruction. Enrichment in Vascular Smooth Muscle Cells (VSMCs) stabilizes expanding AAAs in rats. Mesenchymal Stem Cells (MSCs) can differentiate into VSMCs. We have tested the hypothesis that bone marrow-derived MSCs (BM-MSCs) stabilizes AAAs in a rat model. MATERIAL AND METHODS: Rat Fischer 344 BM-MSCs were isolated by plastic adhesion and seeded endovascularly in experimental AAAs using xenograft obtained from guinea pig. Culture medium without cells was used as control group. The main criteria was the variation of the aortic diameter at one week and four weeks. We evaluated the impact of cells seeding on inflammatory response by immunohistochemistry combined with RT-PCR on MMP9 and TIMP1 at one week. We evaluated the healing process by immunohistochemistry at 4 weeks. RESULTS: The endovascular seeding of BM-MSCs decreased AAA diameter expansion more powerfully than VSMCs or culture medium infusion (6.5% ± 9.7, 25.5% ± 17.2 and 53.4% ± 14.4; p = .007, respectively). This result was sustained at 4 weeks. BM-MSCs decreased expression of MMP-9 and infiltration by macrophages (4.7 ± 2.3 vs. 14.6 ± 6.4 mm(2) respectively; p = .015), increased Tissue Inhibitor Metallo Proteinase-1 (TIMP-1), compared to culture medium infusion. BM-MSCs induced formation of a neo-aortic tissue rich in SM-alpha active positive cells (22.2 ± 2.7 vs. 115.6 ± 30.4 cells/surface units, p = .007) surrounded by a dense collagen and elastin network covered by luminal endothelial cells. CONCLUSIONS: We have shown in this rat model of AAA that BM-MSCs exert a specialized function in arterial regeneration that transcends that of mature mesenchymal cells. Our observation identifies a population of cells easy to isolate and to expand for therapeutic interventions based on catheter-driven cell therapy.