Testing of a Market Fraction Model and Power-law Behaviour in the DAX 30

This paper tests a simple market fraction asset pricing model with heterogeneous
agents. By selecting a set of structural parameters of the model through a systematic procedure, we show that the autocorrelations (of returns, absolute returns and squared returns) of the market fraction model share the same pattern as those of the DAX 30. By conducting econometric analysis via Monte Carlo simulations, we characterize these power-law behaviours and find that estimates of the power-law decay indices, the (FI)GARCH parameters, and the tail index of the selected market fraction model closely match those of the DAX 30. The results strongly support the explanatory power of the heterogeneous agent models.

The influence of high air entry filter on the testing of unsaturated soils using the axis translation technique

Suction is an important stress variable that is required for reliable predictions of the likely performance of unsaturated soils. The axis translation technique is the best established method of measuring or controlling suction; however, the success of this application is heavily dependent on the rating of the high air entry filter (HAF) and how it is incorporated into the testing system. This paper reports some basic experiments in which samples of unsaturated kaolin were brought to saturation in stages using 5 bar and 15 bar HAFs. The results have shown that the water equilibrium in unsaturated soils is greatly affected by the rating of filters. The findings also suggest that the flow through unsaturated soils is not necessarily governed by the one-dimensional consolidation theory that was developed for saturated soils, and this may be attributed to the bimodal pore size distribution of unsaturated soils.

Testing the cause of the Sphagnum austinii (Sull. ex Aust.) decline: Multiproxy evidence from a raised bog in Northern Ireland

We use a multiproxy palaeoecological dataset from Dead Island bog in Northern Ireland to examine the cause of the Sphagnum austinii (Sphagnum imbricatum) decline. The disappearance of this species from the peat record occurred just after the ‘AD 860’ tephra layer and is coeval with a rapid increase in bog surface wetness and increased mineral dust and charcoal abundance. Although it is difficult to identify one specific cause of the decline, the evidence for increased soil-derived dust is apparent and is supported by regional tephra-dated pollen diagrams that reveal extensive landscape changes due to agricultural intensification in early Medieval Ireland. As the decline of S. austinii occurred much later (~ AD 1860) in Fallahogy bog (~ 1.2 km away), we suggest that the decline of S. austinii at Dead Island was caused by a combination of fire and the deposition of soil-derived dust. We suggest that future studies should consider the use of multiple cores from each site to examine the within-site variability of the decline of S. austinii.

RAS testing of colorectal carcinoma—a guidance document from the Association of Clinical Pathologists Molecular Pathology and Diagnostics Group

Analysis of colorectal carcinoma (CRC) tissue for KRAS codon 12 or 13 mutations to guide use of anti-epidermal growth factor receptor (EGFR) therapy is now considered mandatory in the UK. The scope of this practice has been recently extended because of data indicating that NRAS mutations and additional KRAS mutations also predict for poor response to anti-EGFR therapy. The following document provides guidance on RAS (i.e., KRAS and NRAS) testing of CRC tissue in the setting of personalised medicine within the UK and particularly within the NHS. This guidance covers issues related to case selection, preanalytical aspects, analysis and interpretation of such RAS testing.

Testing numerical implementations of strong-field electrodynamics

We test current numerical implementations of laser-matter interactions by comparison with exact analytical results. Focusing on photon emission processes, it is found that the numerics accurately reproduce analytical emission spectra in all considered regimes, except for the harmonic structures often singled out as the most significant high-intensity (multiphoton) effects. We find that this discrepancy originates in the use of the locally constant field approximation.

An optimised milk testing protocol to ensure accurate enumeration of viable Mycobacterium avium subsp. paratuberculosis by the PMS-phage assay

There is interest in determining levels of Mycobacterium avium subsp. paratuberculosis (MAP) contamination in milk. The optimal sample preparation for raw cows' milk to ensure accurate enumeration of viable MAP by the peptide-mediated magnetic separation (PMS)-phage assay was determined. Results indicated that milk samples should be refrigerated at 4 C after collection and MAP testing should commence within 24 h, or samples can be frozen at 70 C for up to one month without loss of MAP viability. Use of Bronopol is not advised as MAP viability is affected. The vast majority (>95%) of MAP in raw milk sedimented to the pellet upon centrifugation at 2500 g for 15 min, so this milk fraction should be tested. De-clumping of MAP cells was most effectively achieved by ultrasonication of the resuspended milk pellet on ice in a sonicator bath at 37 kHz for 4 min in ‘Pulse’ mode.

Empirical testing of genuine savings as an indicator of weak sustainability: a three-country analysis of long run trends

Genuine Savings has emerged as a widely used indicator of sustainable development. In this paper, we use long -term data stretching back to 1870 to undertake empirical tests of the relationship between Genuine Savings (GS) and future well-being for three countries: Britain, the USA and Germany. Our tests are based on an underlying theoretical relationship between GS and changes in the present value of future consumption. Based on both single country and panel results, we find evidence supporting the existence of javascript:void(0);a cointegrating (long run equilibrium) relationship between GS and future well-being, and fail to reject the basic theoretical result on the relationship between these two macroeconomic variables. This provides some support for the GS measure of weak sustainability.