Parameterizing Unconditional Skewness in Models for Financial Time Series

In this paper we consider the third-moment structure of a class of time series models. It is often argued that the marginal distribution of financial time series such as returns is skewed. Therefore it is of importance to know what properties a model should possess if it is to accommodate unconditional skewness. We consider modeling the unconditional mean and variance using models that respond nonlinearly or asymmetrically to shocks. We investigate the implications of these models on the third-moment structure of the marginal distribution as well as conditions under which the unconditional distribution exhibits skewness and nonzero third-order autocovariance structure. In this respect, an asymmetric or nonlinear specification of the conditional mean is found to be of greater importance than the properties of the conditional variance. Several examples are discussed and, whenever possible, explicit analytical expressions provided for all third-order moments and cross-moments. Finally, we introduce a new tool, the shock impact curve, for investigating the impact of shocks on the conditional mean squared error of return series.

Host recognition by a polyphagous lepidopteran (Helicoverpa armigera): Primary host plants, host produced volatiles and neurosensory stimulation

An important question in the host-finding behaviour of a polyphagous insect is whether the insect recognizes a suite or template of chemicals that are common to many plants? To answer this question, headspace volatiles of a subset of commonly used host plants (pigeon pea, tobacco, cotton and bean) and nonhost plants (lantana and oleander) of Helicoverpa armigera Hübner (Lepidoptera: Noctuidae) are screened by gas chromatography (GC) linked to a mated female H. armigera electroantennograph (EAG). In the present study, pigeon pea is postulated to be a primary host plant of the insect, for comparison of the EAG responses across the test plants. EAG responses for pigeon pea volatiles are also compared between females of different physiological status (virgin and mated females) and the sexes. Eight electrophysiologically active compounds in pigeon pea headspace are identified in relatively high concentrations using GC linked to mass spectrometry (GC-MS). These comprised three green leaf volatiles [(2E)-hexenal, (3Z)-hexenylacetate and (3Z)-hexenyl-2-methylbutyrate] and five monoterpenes (α-pinene, β-myrcene, limonene, E-β-ocimene and linalool). Other tested host plants have a smaller subset of these electrophysiologically active compounds and even the nonhost plants contain some of these compounds, all at relatively lower concentrations than pigeon pea. The physiological status or sex of the moths has no effect on the responses for these identified compounds. The present study demonstrates how some host plants can be primary targets for moths that are searching for hosts whereas the other host plants are incidental or secondary targets.

Scheffleriläinen rationaalisuus ja kasvatustodellisuuden monikerroksisuus : Jännitteitä ja ratkaisuja Israel Schefflerin kasvatusfilosofiassa

The study is a philosophical analysis of Israel Scheffler’s philosophy of education, focusing on three crucial conceptions in his philosophy: the conception of rationality, the conception of human nature, and the conception of reality. The interrelations of these three concepts as well as their relations to educational theorizing are analysed and elaborated. A conceptual problem concerning Scheffler’s ideal of rationality derives from Scheffler’s supposition of the strong analogy between science education and moral education in terms of the ideal of rationality. This analogy is argued to be conceptually problematic, since the interconnections of rationality, objectivity, and truth, appear to differ from each other in the realms of ethics and science, given the presuppositions of ontological realism and ethical naturalism, to which Scheffler explicitly subscribes. This study considers two philosophical alternatives for solving this problem. The first alternative relates the analogy to the normative concept of personhood deriving from the teleological understanding of human nature. Nevertheless, this position turns out to be problematic for Scheffler, since he rejects all teleological thinking in his philosophy. The problem can be solved, as it is argued, by limiting Scheffler’s rejection of teleology – in light of his philosophical outlook on the whole – in a manner that allows a modest version of a teleological conception of human nature. The second alternative, based especially on Scheffler’s later contributions, is to suggest that reality is actually more complex and manifold than it appears to be in light of a contemporary naturalist worldview. This idea of plurealism – Scheffler’s synthesis of pluralism and realism – is represented especially in Scheffler’s contributions related to his debate with Nelson Goodman dealing with both constructivism and realism. The idea of plurealism is not only related to the ethics-science-distinction, but is more widely related to the relationship between ontological realism and the incommensurable systems of description in diverse realms of human understanding. The Scheffler-Goodman debate is also analysed in relation to the contemporary constructivism-realism debate in educational philosophy. In terms of educational questions, Scheffler’s plurealism is argued as offering a fruitful perspective. Scheffler’s philosophy of education can be interpreted as searching for solutions to the problems deriving from the tension between the tradition of analytical philosophy and the complexity and multiplicity of educational reality. The complexity of reality combined with the supposition of the limitedness of human knowledge does not lead Scheffler to relativism or particularism, but, in contrast, Schefflerian formulations of rationality and objectivity preserve the possibility for critical inquiry in all realms of educational reality. In light of this study, Scheffler’s philosophy of education provides an exceptional example of combining ontological realism, epistemological fallibilism, and the defence of the ideal of rationality, combined with a wide-ranging understanding of educational reality.

Resonances, scattering theory, and rigged Hilbert spaces

The problem of decaying states and resonances is examined within the framework of scattering theory in a rigged Hilbert space formalism. The stationary free,''in,'' and ''out'' eigenvectors of formal scattering theory, which have a rigorous setting in rigged Hilbert space, are considered to be analytic functions of the energy eigenvalue. The value of these analytic functions at any point of regularity, real or complex, is an eigenvector with eigenvalue equal to the position of the point. The poles of the eigenvector families give origin to other eigenvectors of the Hamiltonian: the singularities of the ''out'' eigenvector family are the same as those of the continued S matrix, so that resonances are seen as eigenvectors of the Hamiltonian with eigenvalue equal to their location in the complex energy plane. Cauchy theorem then provides for expansions in terms of ''complete'' sets of eigenvectors with complex eigenvalues of the Hamiltonian. Applying such expansions to the survival amplitude of a decaying state, one finds that resonances give discrete contributions with purely exponential time behavior; the background is of course present, but explicitly separated. The resolvent of the Hamiltonian, restricted to the nuclear space appearing in the rigged Hilbert space, can be continued across the absolutely continuous spectrum; the singularities of the continuation are the same as those of the ''out'' eigenvectors. The free, ''in'' and ''out'' eigenvectors with complex eigenvalues and those corresponding to resonances can be approximated by physical vectors in the Hilbert space, as plane waves can. The need for having some further physical information in addition to the specification of the total Hamiltonian is apparent in the proposed framework. The formalism is applied to the Lee–Friedrichs model and to the scattering of a spinless particle by a local central potential. Journal of Mathematical Physics is copyrighted by The American Institute of Physics.

Swarm intelligence-based solver for parameter estimation of laboratory through-diffusion transport of contaminants

Theoretical approaches are of fundamental importance to predict the potential impact of waste disposal facilities on ground water contamination. Appropriate design parameters are generally estimated be fitting theoretical models to data gathered from field monitoring or laboratory experiments. Transient through-diffusion tests are generally conducted in the laboratory to estimate the mass transport parameters of the proposed barrier material. Thes parameters are usually estimated either by approximate eye-fitting calibration or by combining the solution of the direct problem with any available gradient-based techniques. In this work, an automated, gradient-free solver is developed to estimate the mass transport parameters of a transient through-diffusion model. The proposed inverse model uses a particle swarm optimization (PSO) algorithm that is based on the social behavior of animals searching for food sources. The finite difference numerical solution of the forward model is integrated with the PSO algorithm to solve the inverse problem of parameter estimation. The working principle of the new solver is demonstrated and mass transport parameters are estimated from laboratory through-diffusion experimental data. An inverse model based on the standard gradient-based technique is formulated to compare with the proposed solver. A detailed comparative study is carried out between conventional methods and the proposed solver. The present automated technique is found to be very efficient and robust. The mass transport parameters are obtained with great precision.

Verkko-oppimateriaalin multimodaalisuus : kohteena YLEn Kansalaisen ABC -verkko-oppimateriaalit

Today information and communication technology allows us to use multimedia more than ever before in e-learning materials. Multimedia though can increase cognitive load in learning process. Because of that it cannot be taken granted what kind of learning materials should be produced. This paper intended to study the diversity of e-learning materials and the factors related cognitive load. The main purpose was to study the multimodality of the multimedia learning materials. The subject of this study is the learning materials on the web site Kansalaisen ABC published by YLE. Learning materials in the web site were approached from three different perspectives. The specific questions were: (1) What kind of form features are used in the representations of the learning material? Are certain form features preferred over others? (2) How do the cognitive load factors take shape in learning materials and between the forms? (3) How does the multimodality phenomenon appear in the learning materials and in what ways are form features and cognitive load factors related to multimodality? In this case study a qualitative approach was used. Analysis of the form features and the cognitive load factors in learning materials were based on content analysis. Form features included the specification of a format, the structure, the interactivity type and the type of learning material. The results showed that the web sites include various representations of both verbal and visual forms. Cognitive load factors were related mostly to visual than verbal material. Material presented according to the principles of cognitive multimedia theory multimedia representations did not cause cognitive overload in the informants. Cognitive load was increased in the case of students needing to split their attention between the multimedia forms in time and place. The results indicated how different individual characteristics are reflected by the cognitive load factors.

Hardness Methods for Testing Maize Kernels

Maize is a highly important crop to many countries around the world, through the sale of the maize crop to domestic processors and subsequent production of maize products and also provides a staple food to subsistance farms in undeveloped countries. In many countries, there have been long-term research efforts to develop a suitable hardness method that could assist the maize industry in improving efficiency in processing as well as possibly providing a quality specification for maize growers, which could attract a premium. This paper focuses specifically on hardness and reviews a number of methodologies as well as important biochemical aspects of maize that contribute to maize hardness used internationally. Numerous foods are produced from maize, and hardness has been described as having an impact on food quality. However, the basis of hardness and measurement of hardness are very general and would apply to any use of maize from any country. From the published literature, it would appear that one of the simpler methods used to measure hardness is a grinding step followed by a sieving step, using multiple sieve sizes. This would allow the range in hardness within a sample as well as average particle size and/or coarse/fine ratio to be calculated. Any of these parameters could easily be used as reference values for the development of near-infrared (NIR) spectroscopy calibrations. The development of precise NIR calibrations will provide an excellent tool for breeders, handlers, and processors to deliver specific cultivars in the case of growers and bulk loads in the case of handlers, thereby ensuring the most efficient use of maize by domestic and international processors. This paper also considers previous research describing the biochemical aspects of maize that have been related to maize hardness. Both starch and protein affect hardness, with most research focusing on the storage proteins (zeins). Both the content and composition of the zein fractions affect hardness. Genotypes and growing environment influence the final protein and starch content and. to a lesser extent, composition. However, hardness is a highly heritable trait and, hence, when a desirable level of hardness is finally agreed upon, the breeders will quickly be able to produce material with the hardness levels required by the industry.

Maximising the contribution of native-range studies towards the identification and prioritisation of weed biocontrol agents

Effective study in the native range to identify potential agents underpins all efforts in classical biological control of weeds. Good agents that demonstrate both a high degree of host specificity and the potential to be damaging are a very limited resource and must therefore be carefully studied and considered. The overseas component is often operationally difficult and expensive but can contribute considerably more than a list of herbivores attacking a particular target. While the principles underlying this foreign component have been understood for some time, recently developed technologies and methods can make very significant contributions to foreign studies. Molecular and genetic characterisations of both target weed and agent organism can be increasingly employed to more accurately define the identity and phylogeny of them. Climate matching and modelling software is now available and can be utilised to better select agents for particular regions of concern. Relational databases can store collection information for analysis and future enquiry while quantification of sampling effort, employment of statistical survey methods and analysis by techniques such as rarefaction curves contribute to efficient and effective searching. Obtaining good and timely identifications for discovered agent organisms is perhaps the most serious issue confronting the modern explorer. The diminishing numbers of specialist taxonomists employed at the major museums while international and national protocols demand higher standards of identity exacerbates the issue. Genetic barcoding may provide a very useful tool to overcome this problem. Native-range work also offers under-exploited opportunities for contributing towards predicting safety, abundance and efficacy of potential agents in their target environment.

Collaborative Design in a Virtual Learning Environment : Three Design Experiments in Textile Teacher Education

The aim of the study was to analyze and facilitate collaborative design in a virtual learning environment (VLE). Discussions of virtual design in design education have typically focused on technological or communication issues, not on pedagogical issues. Yet in order to facilitate collaborative design, it is also necessary to address the pedagogical issues related to the virtual design process. In this study, the progressive inquiry model of collaborative designing was used to give a structural level of facilitation to students working in the VLE. According to this model, all aspects of inquiry, such as creating the design context, constructing a design idea, evaluating the idea, and searching for new information, can be shared in a design community. The study consists of three design projects: 1) designing clothes for premature babies, 2) designing conference bags for an international conference, and 3) designing tactile books for visually impaired children. These design projects constituted a continuum of design experiments, each of which highlighted certain perspectives on collaborative designing. The design experiments were organized so that the participants worked in design teams, both face-to-face and virtually. The first design experiment focused on peer collaboration among textile teacher students in the VLE. The second design experiment took into consideration end-users needs by using a participatory design approach. The third design experiment intensified computer-supported collaboration between students and domain experts. The virtual learning environments, in these design experiments, were designed to support knowledge-building pedagogy and progressive inquiry learning. These environments enabled a detailed recording of all computer-mediated interactions and data related to virtual designing. The data analysis was based on qualitative content analysis of design statements in the VLE. This study indicated four crucial issues concerning collaborative design in the VLE in craft and design education. Firstly, using the collaborative design process in craft and design education gives rise to special challenges of building learning communities, creating appropriate design tasks for them, and providing tools for collaborative activities. Secondly, the progressive inquiry model of collaborative designing can be used as a scaffold support for design thinking and for reflection on the design process. Thirdly, participation and distributed expertise can be facilitated by considering the key stakeholders who are related to the design task or design context, and getting them to participate in virtual designing. Fourthly, in the collaborative design process, it is important that team members create and improve visual and technical ideas together, not just agree or disagree about proposed ideas. Therefore, viewing the VLE as a medium for collaborative construction of the design objects appears crucial in order to understand and facilitate the complex processes in collaborative designing.

Ei oo kahta samanlaista siskoo: Yksilöllisyys Suomessa asuvien musliminaisten pukeutumisessa

Tutkimuksessa etsittiin vastauksia kysymyksiin, mistä yksilöllisyys muodostuu ja miten se ilmenee musliminaisten pukeutumisessa. Vastauksia tutkimuskysymyksiin haettiin teorian ja aineiston vuoropuheluun perustuvalla fenomenologisesti orientoituneella sisällönanalyysilla. Analysoitava aineisto on hankittu haastattelemalla yhdeksää Suomessa asuvaa musliminaista. Tutkimuksessa yksilöllisyyttä pukeutumisessa on tarkasteltu prosessina. Prosessiin vaikuttavina tekijöinä on tarkasteltu yksilön olemusta, personallisuutta, minuutta, identiteettejä, uskontoa, kulttuuria ja sosiaalisia suhteita. Prosessissa keskeistä aineiston perusteella oli positiivisen minuuden kokemuksen tavoittelu, joka tarkoitti naisille intuitiivista oman itsensä tunnistamista ja tyytyväisyyttä peilin heijastamaan kuvaan. Yksilöllisen pukeutumisen voikin sanoa olevan seurausta positiivisen minuuden kokemuksen tavoittelusta, koska jokaiselle naiselle erilainen pukeutuminen antoi tunteen sopivuudesta itselle. Esimerkiksi uskonnolliselle musliminaisille pään peittäminen merkitsee oman minuuden toteutumista, koska hän kokee tuon pukeutumisen olevan uskon mukainen pukeutumistapa. Toiselle musliminaiselle pään peittäminen voi merkitä positiivisen minuuden kokemuksen menettämistä. Yksilöllisyys pukeutumisessa ilmeni monin tavoin. Osa naisista peittää julkisuudessa koko päänsä ja vartalonsa, osa ei peitä päätään ja jotkut pukeutuvat jopa tiukkoihin tai paljastaviin vaatteisiin. Suomessa on myös kasvonsa peittäviä musliminaisia, joita ei kuitenkaan ole mukana tässä tutkimuksessa. Yksilöllisyyttä ilmeni kuitenkin myös samalla tavalla pukeutuvien musliminaisten ryhmässä. Yksilöllisyys pukeutumisessa ilmeni erilaisina vaatekappaleina, hiustyyleinä, valintoina, yksityiskohtina ja väreinä. Yksilöllisyydessä ei kuitenkaan ole kyse vain havaittavasta pukeutumisen erilaisuudesta, vaan siitä, miten kukin musliminainen kuuluu tähän maailmaan ja toteuttaa omaa minuuttaan pukeutumisella. Tämä tarkoittaa sitä, että tutkimuksessa yksilöllisenä pukeutumisena voidaan pitää sitäkin, mikä monen suomalaisen mielestä ei näytä yksilölliseltä. Avainsanat: Yksilöllisyys, minuus, pukeutuminen, islam, naiset, prosessi, kokemus

Regional development, commercialisation and target adoption of new integrated management techniques for Sheep industry

This Sheep CRC2 project is directed towards regional development of, support for, commercialisation and target adoption of, new integrated management techniques, which will lift productivity and better match product with market specification. The outputs and benefits will help support and improve the productivity and profitability of producers remaining in the industry, and support industry in the current move towards one in which both meat and wool will be joint drivers of industry productivity.

Activator Protein-1 and Epidermal Growth Factor Receptor Interplay : In Vivo & In Vitro Studies

Critical cellular decisions such as should the cell proliferate, migrate or differentiate, are regulated by stimulatory signals from the extracellular environment, like growth factors. These signals are transformed to cellular responses through their binding to specific receptors present at the surface of the recipient cell. The epidermal growth factor receptor (EGF-R/ErbB) pathway plays key roles in governing these signals to intracellular events and cell-to-cell communication. The EGF-R forms a signaling network that participates in the specification of cell fate and coordinates cell proliferation. Ligand binding triggers receptor dimerization leading to the recruitment of kinases and adaptor proteins. This step simultaneously initiates multiple signal transduction pathways, which result in activation of transcription factors and other target proteins, leading to cellular alterations. It is known that mutations of EGF-R or in the components of these pathways, such as Ras and Raf, are commonly involved in human cancer. The four best characterized signaling pathways induced by EGF-R are the mitogen-activated protein kinase cascades (MAPKs), the lipid kinase phosphatidylinositol 3 kinase (PI3K), a group of transcription factors called Signal Transducers and Activator of Transcription (STAT), and the phospholipase Cγ; (PLCγ) pathways. The activation of each cascade culminates in kinase translocation to the nucleus to stimulate various transcription factors including activator protein 1 (AP-1). AP-1 family proteins are basic leucine zipper (bZIP) transcription factors that are implicated in the regulation of a variety of cellular processes (proliferation and survival, growth, differentiation, apoptosis, cell migration, transformation). Therefore, the regulation of AP-1 activity is critical for the decision of cell fate and their deregulated expression is widely associated with many types of cancers, such as breast and prostate cancers. The aims of this study were to characterize the roles of EGF-R signaling during normal development and malignant growth in vitro and in vivo using different cell lines and tissue samples. We show here that EGF-R regulates cell proliferation but is also required for regulation of AP-1 target gene expression in fibroblasts in a MAP-kinase mediated manner. Furthermore, EGF-R signaling is essential for enterocyte proliferation and migration during intestinal maturation. EGF-R signaling network, especially PI3-K-Akt pathway mediated AP-1 activity is involved in cellular survival in response to ionizing radiation. Taken together, these results elucidate the connection of EGF-R and AP-1 in various cellular contexts and show their importance in the regulation of cellular behaviour presenting new treatment cues for intestinal perforations and cancer therapy.

Economic case study of ABCD cane management practices in the Burdekin River Irrigation Area (BRIA) region

A case study was undertaken to determine the economic impact of a change in management class as detailed in the A, B, C and D management class framework. This document focuses on the implications of changing from D to C, C to B and B to A class management in the Burdekin River irrigation area (BRIA) and if the change is worthwhile from an economic perspective. This report provides a guide to the economic impact that may be expected when undertaking a particular change in farming practices and will ultimately lead to more informed decisions being made by key industry stakeholders. It is recognised that these management classes have certain limitations and in many cases the grouping of practices may not be reflective of the real situation. The economic case study is based on the A, B, C and D management class framework for water quality improvement developed in 2007/2008 for the Burdekin natural resource management region. The framework for the Burdekin is currently being updated to clarify some issues and incorporate new knowledge since the earlier version of the framework. However, this updated version is not yet complete and so the Paddock to Reef project has used the most current available version of the framework for the modelling and economics. As part of the project specification, sugarcane crop production data for the BRIA was provided by the APSIM model. The information obtained from the APSIM crop modelling programme included sugarcane yields and legume grain yield (legume grain yield only applies to A class management practice). Because of the complexity involved in the economic calculations, a combination of the FEAT, PiRisk and a custom made spreadsheet was used for the economic analysis. Figures calculated in the FEAT program were transferred to the custom made spreadsheet to develop a discounted cash flow analysis. The marginal cash flow differences for each farming system were simulated over a 5-year and 10-year planning horizon to determine the net present value of changing across different management practices. PiRisk was used to test uncertain parameters in the economic analysis and the potential risk associated with a change in value.

Economic case study of ABCD cane management practices in the Burdekin Delta region.

A case study was undertaken to determine the economic impact of a change in management class as detailed in the A, B, C and D management class framework. This document focuses on the implications of changing from D to C, C to B and B to A class management in the Burdekin Delta region and if the change is worthwhile from an economic perspective. This report provides a guide to the economic impact that may be expected when undertaking a particular change in farming practices and will ultimately lead to more informed decisions being made by key industry stakeholders. It is recognised that these management classes have certain limitations and in many cases the grouping of practices may not be reflective of the real situation. The economic case study is based on the A, B, C and D management class framework for water quality improvement developed in 2007/2008 for the Burdekin natural resource management region. The framework for the Burdekin is currently being updated to clarify some issues and incorporate new knowledge since the earlier version of the framework. However, this updated version is not yet complete and so the Paddock to Reef project has used the most current available version of the framework for the modelling and economics. As part of the project specification, sugarcane crop production data for the Burdekin Delta region was provided by the APSIM model. The information obtained from the APSIM crop modelling programme included sugarcane yields and legume grain yield (legume grain yield only applies to A class management practice). Because of the complexity involved in the economic calculations, a combination of the FEAT, PiRisk and a custom made spreadsheet was used for the economic analysis. Figures calculated in the FEAT program were transferred to the custom made spreadsheet to develop a discounted cash flow analysis. The marginal cash flow differences for each farming system were simulated over a 5-year and 10-year planning horizon to determine the Net Present Value of changing across different management practices. PiRisk was used to test uncertain parameters in the economic analysis and the potential risk associated with a change in value.

Economic case study of ABCD cane management practices in the Tully region

A case study was undertaken to determine the economic impact of a change in management class as detailed in the A, B, C and D management class framework. This document focuses on the implications of changing from D to C, C to B and B to A class management in the Tully region and if the change is worthwhile from an economic perspective. This report provides a guide to the economic impact that may be expected when undertaking a particular change in farming practices and will ultimately lead to more informed decisions being made by key industry stakeholders. It is recognised that these management classes have certain limitations and in many cases the grouping of practices may not be reflective of the real situation. The economic case study is based on the A, B, C and D management class framework for water quality improvement developed in 2007/2008 by the wet tropics natural resource management region. The framework for wet tropics is currently being updated to clarify some issues and incorporate new knowledge since the earlier version of the framework. However, this updated version is not yet complete and so the Paddock to Reef project has used the most current available version of the framework for the modelling and economics. As part of the project specification, sugarcane crop production data for the Tully region was provided by the APSIM model. Because of the complexity involved in the economic calculations, a combination of the FEAT, PiRisk and a custom made spreadsheet was used for the economic analysis. Figures calculated in the FEAT program were transferred to the custom made spreadsheet to develop a discounted cash flow analysis. The marginal cash flow differences for each farming system were simulated over a 5-year and 10-year planning horizon to determine the Net Present Value of changing across different management practices. PiRisk was used to test uncertain parameters in the economic analysis and the potential risk associated with a change in value.