Return distribution predictability and its implications for portfolio selection

The inquiries to return predictability are traditionally limited to conditional mean, while literature on portfolio selection is replete with moment-based analysis with up to the fourth moment being considered. This paper develops a distribution-based framework for both return prediction and portfolio selection. More specifically, a time-varying return distribution is modeled through quantile regressions and copulas, using quantile regressions to extract information in marginal distributions and copulas to capture dependence structure. A preference function which captures higher moments is proposed for portfolio selection. An empirical application highlights the additional information provided by the distributional approach which cannot be captured by the traditional moment-based methods.

Beat phenomena in metal nanowires, and their implications for resonance-based elastic property measurements

The elastic properties of 1D nanostructures such as nanowires are often measured experimentally through actuation of the nanowire at its resonance frequency, and then relating the resonance frequency to the elastic stiffness using elementary beam theory. In the present work, we utilize large scale molecular dynamics simulations to report a novel beat phenomenon in [110]oriented Ag nanowires. The beat phenomenon is found to arise from the asymmetry of the lattice spacing in the orthogonal elementary directions of the [110] nanowire, i.e. the [-110] and [001] directions, which results in two different principal moments of inertia. Because of this, actuations imposed along any other direction are found to decompose into two orthogonal vibrational components based on the actuation angle relative to these two elementary directions, with this phenomenon being generalizable to <110> FCC nanowires of different materials (Cu, Au, Ni, Pd and Pt). The beat phenomenon is explained using a discrete moment of inertia model based on the hard sphere assumption, the model is utilized to show that surface effects enhance the beat phenomenon, while the effect is reduced with increasing nanowires cross-sectional size or aspect ratio. Most importantly, due to the existence of the beat phenomena, we demonstrate that in resonance experiments only a single frequency component is expected to be observed, particularly when the damping ratio is relatively large or very small. Furthermore, for a large range of actuation angles, the lower frequency is more likely to be detected than the higher one, which implies that experimental predictions of Young’s modulus obtained from resonance may in fact be under predictions. The present study therefore has significant implications for experimental interpretations of Young’s modulus as obtained via resonance testing.

Talk and web searching in an early years classroom

Recent Australian early childhood policy and curriculum guidelines promoting the use of technologies invite investigations of young children’s practices in classrooms. This study examined the practices of one preparatory year classroom, to show teacher and child interactions as they engaged in Web searching. The study investigated the in situ practices of the teacher and children to show how they accomplished the Web search. The data corpus consists of eight hours of videorecorded interactions over three days where children and teachers engaged in Web searching. One episode was selected that showed a teacher and two children undertaking a Web search. The episode is shown to consist of four phases: deciding on a new search subject, inputting the search query, considering the result options, and exploring the selected result. The sociological perspectives of ethnomethodology and conversation analysis were employed as the conceptual and methodological frameworks of the study, to analyse the video-recorded teacher and child interactions as they co-constructed a Web search. Ethnomethodology is concerned with how people make ‘sense’ in everyday interactions, and conversation analysis focuses on the sequential features of interaction to show how the interaction unfolds moment by moment. This extended single case analysis showed how the Web search was accomplished over multiple turns, and how the children and teacher collaboratively engaged in talk. There are four main findings. The first was that Web searching featured sustained teacher-child interaction, requiring a particular sort of classroom organisation to enable the teacher to work in this sustained way. The second finding was that the teacher’s actions recognised the children’s interactional competence in situ, orchestrating an interactional climate where everyone was heard. The third finding was that the teacher drew upon a range of interactional resources designed to progress the activity at hand, that of accomplishing the Web search. The teacher drew upon the interactional resources of interrogatives, discourse markers, and multi-unit turns during the Web search, and these assisted the teacher and children to co-construct their discussion, decide upon and co-ordinate their future actions, and accomplish the Web search in a timely way. The fourth finding explicates how particular social and pedagogic orders are accomplished through talk, where children collaborated with each other and with the teacher to complete the Web search. The study makes three key recommendations for the field of early childhood education. The study’s first recommendation is that fine-grained transcription and analysis of interaction aids in understanding interactional practices of Web searching. This study offers material for use in professional development, such as using transcribed and videorecorded interactions to highlight how teachers strategically engage with children, that is, how talk works in classroom settings. Another strategy is to focus on the social interactions of members engaging in Web searches, which is likely to be of interest to teachers as they work to engage with children in an increasingly online environment. The second recommendation involves classroom organisation; how teachers consider and plan for extended periods of time for Web searching, and how teachers accommodate children’s prior knowledge of Web searching in their classrooms. The third recommendation is in relation to future empirical research, with suggested possible topics focusing on the social interactions of children as they engage with peers as they Web search, as well as investigations of techno-literacy skills as children use the Internet in the early years.

Architecture post mortem : the diastolic architecture of decline, dystopia, and death

Architecture Post Mortem surveys architecture’s encounter with death, decline, and ruination following late capitalism. As the world moves closer to an economic abyss that many perceive to be the death of capital, contraction and crisis are no longer mere phases of normal market fluctuations, but rather the irruption of the unconscious of ideology itself. Post mortem is that historical moment wherein architecture’s symbolic contract with capital is put on stage, naked to all. Architecture is not irrelevant to fiscal and political contagion as is commonly believed; it is the victim and penetrating analytical agent of the current crisis. As the very apparatus for modernity’s guilt and unfulfilled drives-modernity’s debt-architecture is that ideological element that functions as a master signifier of its own destruction, ordering all other signifiers and modes of signification beneath it. It is under these conditions that architecture theory has retreated to an “Alamo” of history, a final desert outpost where history has been asked to transcend itself. For architecture’s hoped-for utopia always involves an apocalypse. This timely collection of essays reformulates architecture’s relation to modernity via the operational death-drive: architecture is but a passage between life and death. This collection includes essays by Kazi K. Ashraf, David Bertolini, Simone Brott, Peggy Deamer, Didem Ekici, Paul Emmons, Donald Kunze, Todd McGowan, Gevork Hartoonian, Nadir Lahiji, Erika Naginski, and Dennis Maher. Contents: Introduction: ‘the way things are’, Donald Kunze; Driven into the public: the psychic constitution of space, Todd McGowan; Dead or alive in Joburg, Simone Brott; Building in-between the two deaths: a post mortem manifesto, Nadir Lahiji; Kant, Sade, ethics and architecture, David Bertolini; Post mortem: building deconstruction, Kazi K. Ashraf; The slow-fast architecture of love in the ruins, Donald Kunze; Progress: re-building the ruins of architecture, Gevork Hartoonian; Adrian Stokes: surface suicide, Peggy Deamer; A window to the soul: depth in the early modern section drawing, Paul Emmons; Preliminary thoughts on Piranesi and Vico, Erika Naginski; architectural asceticism and austerity, Didem Ekici; 900 miles to Paradise, and other afterlives of architecture, Dennis Maher; Index.

Importance of a resilient air services network to Australian remote, rural, and regional communities

Rural, regional, and remote settlements in Australia require resilient infrastructure to remain sustainable in a context characterized by frequent large-scale natural disasters, long distances between urban centers, and the pressures of economic change. A critical aspect of this infrastructure is the air services network, a system of airports, aircraft operators, and related industries that enables the high-speed movement of people, goods, and services to remote locations. A process of deregulation during the 1970s and 1980s resulted in many of these airports passing into local government and private ownership, and the rationalization of the industry saw the closure of a number of airlines and airports. This paper examines the impacts of deregulation on the resilience of air services and the contribution that they make to regional and rural communities. In particular, the robustness, redundancy, resourcefulness, and rapidity of the system are examined. The conclusion is that while the air services network has remained resilient in a situation of considerable change, the pressures of commercialization and the tendency to manage aspects of the system in isolation have contributed to a potential decrease in overall resilience.

Oblique-Shock-Wave/Boundary-Layer Interaction Using Near-Wall Reynolds-Stress Models

A synthesis is presented of the predictive capability of a family of near-wall wall-normal free Reynolds stress models (which are completely independent of wall topology, i.e., of the distance fromthe wall and the normal-to-thewall orientation) for oblique-shock-wave/turbulent-boundary-layer interactions. For the purpose of comparison, results are also presented using a standard low turbulence Reynolds number k–ε closure and a Reynolds stress model that uses geometric wall normals and wall distances. Studied shock-wave Mach numbers are in the range MSW = 2.85–2.9 and incoming boundary-layer-thickness Reynolds numbers are in the range Reδ0 = 1–2×106. Computations were carefully checked for grid convergence. Comparison with measurements shows satisfactory agreement, improving on results obtained using a k–ε model, and highlights the relative importance of redistribution and diffusion closures, indicating directions for future modeling work.

Behaviour and design of cold-formed steel beams subject to lateral-torsional buckling at elevated temperatures

Cold-formed steel beams are increasingly used as floor joists and bearers in buildings and often their behaviour and moment capacities are influenced by lateral-torsional buckling. With increasing usage of cold-formed steel beams their fire safety design has become an important issue. Fire design rules are commonly based on past research on hot-rolled steel beams. Hence a detailed parametric study was undertaken using validated finite element models to investigate the lateral-torsional buckling behaviour of simply supported cold-formed steel lipped channel beams subjected to uniform bending at uniform elevated temperatures. The moment capacity results were compared with the predictions from the available ambient temperature and fire design rules and suitable recommendations were made. European fire design rules were found to be over-conservative while the ambient temperature design rules could not be used based on single buckling curve. Hence a new design method was proposed that includes the important non-linear stress-strain characteristics observed for cold-formed steels at elevated temperatures. Comparison with numerical moment capacities demonstrated the accuracy of the new design method. This paper presents the details of the parametric study, comparisons with current design rules and the new design rules proposed in this research for lateral-torsional buckling of cold-formed steel lipped channel beams at elevated temperatures.

Reduced Il17a expression distinguishes a Ly6cloMHCIIhi macrophage population promoting wound healing

Macrophages are the main components of inflammation during skin wound healing. They are critical in wound closure and in excessive inflammation, resulting in defective healing observed in chronic wounds. Given the heterogeneity of macrophage phenotypes and functions, we here hypothesized that different subpopulations of macrophages would have different and sometimes opposing effects on wound healing. Using multimarker flow cytometry and RNA expression array analyses on macrophage subpopulations from wound granulation tissue, we identified a Ly6cloMHCIIhi “noninflammatory” subset that increased both in absolute number and proportion during normal wound healing and was missing in Ob/Ob and MYD88−/− models of delayed healing. We also identified IL17 as the main cytokine distinguishing this population from proinflammatory macrophages and demonstrated that inhibition of IL17 by blocking Ab or in IL17A−/− mice accelerated normal and delayed healing. These findings dissect the complexity of the role and activity of the macrophages during wound inflammation and may contribute to the development of therapeutic approaches to restore healing in chronic wounds.

Deformable face ensemble alignment with robust grouped-L1 anchors

Many methods exist at the moment for deformable face fitting. A drawback to nearly all these approaches is that they are (i) noisy in terms of landmark positions, and (ii) the noise is biased across frames (i.e. the misalignment is toward common directions across all frames). In this paper we propose a grouped $\mathcal{L}1$-norm anchored method for simultaneously aligning an ensemble of deformable face images stemming from the same subject, given noisy heterogeneous landmark estimates. Impressive alignment performance improvement and refinement is obtained using very weak initialization as "anchors".

Come together : forging publics in Brisbane's Gallery of Modern Art

The Gallery of Modern Art (GoMA) in Brisbane, Australia’s third largest city, recently staged ‘21st Century: Art of the First Decade’. The gallery spaces were replete with a commissioned slide by Carsten Höller, an installation of Rivane Neuenschwande’s I Wish Your Wish (2003), a table of white Legos, a room of purple balloons and other participatory or interactive artworks designed to engage multiple publics and encourage audience participation in a variety of ways. Many of the featured projects used day-to-day experiences and offered new conceptions about art practice and what they can elicit in their public – raise awareness about local issues, help audiences imagine different ways of negotiating their environs or experi-ence a museum in a new way. At times, the bottom floor galleries resembled a theme park – adults and children playing with Legos and using Höller’s slide. This article examines the benefits and limitations of such artistic interventions by relating the GoMA exhibition to Brisbane City Council’s campaign of ‘Together Brisbane’ (featuring images of Neunenschwande’s ribbons); a response to the devastation brought to the city and its surrounds in January 2011. During the Brisbane floods, GoMA’s basement was damaged, the museum closed and upon reopening, visitor numbers soared. In this context, GoMA’s use of engaged art practice – always verging on the ephemeral and ‘fun’ – has been used to project a wider notion of a collective urban public. What questions does this raise, not only regarding the cultural politics around the social and participatory ‘turn’ in art practice, but its use to address a much wider urban public in a moment of crisis.

Shanghai modern : replaying futures past

This article discusses different accounts of Shanghai Modern, the period between 1920s and 1940s in which the city occupied a unique position within China and the world. It places discussions of this period in the context of the resurgence of urban led modernization in China, led by Shanghai. It looks in particular at Leo Ou-Fan Lee’s attempt to link the cosmopolitanism of Shanghai modern with prospects for this new post-reform China. I then discuss Ackbas Abbas’ response to this book and use this as a way of reflecting on the progress of Shanghai urban development and its divergence/ convergence with similar processes in the West. The article then looks at the other significant moment of the Cultural Revolution as a way of opening up discussions of Chinese and Shanghainese modernity beyond that of simply an absorption into Western capitalist modernity. It concludes by briefly introducing this volume.

Towards persistent indoor appearance-based localization, mapping and navigation using CAT-Graph

The challenge of persistent appearance-based navigation and mapping is to develop an autonomous robotic vision system that can simultaneously localize, map and navigate over the lifetime of the robot. However, the computation time and memory requirements of current appearance-based methods typically scale not only with the size of the environment but also with the operation time of the platform; also, repeated revisits to locations will develop multiple competing representations which reduce recall performance. In this paper we present a solution to the persistent localization, mapping and global path planning problem in the context of a delivery robot in an office environment over a one-week period. Using a graphical appearance-based SLAM algorithm, CAT-Graph, we demonstrate constant time and memory loop closure detection with minimal degradation during repeated revisits to locations, along with topological path planning that improves over time without using a global metric representation. We compare the localization performance of CAT-Graph to openFABMAP, an appearance-only SLAM algorithm, and the path planning performance to occupancy-grid based metric SLAM. We discuss the limitations of the algorithm with regard to environment change over time and illustrate how the topological graph representation can be coupled with local movement behaviors for persistent autonomous robot navigation.

Calling for help : a responsive evaluation of Child Health Line

The project examined the responsiveness of the telenursing service provided by the Child Health Line (hereinafter referred to as CHL). It aimed to provide an account of population usage of the service, the call request types and the response of the service to the calls. In so doing, the project extends the current body of knowledge pertaining to the provision of parenting support through telenursing. Approximately 900 calls to the CHL were audio-recorded over the December 2005-2006 Christmas-New Year period. A protocol was developed to code characteristics of the call, the interactional features between the caller and nurse call-taker, and the extent to which there was (a) agreement on problem definition and the plan of action and (b) interactional alignment between nurse and caller. A quantitative analysis examined the frequencies of the main topics covered in calls to the CHL and any statistical associations between types of calls, length of calls and nurse-caller alignment. In addition, a detailed qualitative analysis was conducted on a subset of calls dealing with the nurse management of calls seeking medical advice and information. Key findings include: • Overall, 74% of the calls discussed parenting and child development issues, 48% discussed health/medical issues, and 16% were information-seeking calls. • More specifically: o 21% discussed health/medical and parenting and child development issues. o 3% discussed parenting and information-seeking issues. o 5% discussed health/medical, parenting/development and information issues. o 18% exclusively focussed on health and medical issues and therefore were outside the remit of the intended scope of the CHL. These calls caused interactional dilemmas for the nurse call-takers as they simultaneously dealt with parental expectations for help and the CHL guidelines indicating that offering medical advice was outside the remit of the service. • Most frequent reasons for calling were to discuss sleep, feeding, normative infant physical functions and parenting advice. • The average length of calls to the CHL was 7 minutes. • Longer calls were more likely to involve nurse call-takers giving advice on more than one topic, the caller displaying strong emotions, the caller not specifically providing the reason for the call, and the caller discussing parenting and developmental issues. • Shorter calls were characterised by the nurse suggesting that the child receive immediate medical attention, the nurse emphasising the importance or urgency of the plan of action, the caller referring to or requesting confirmation of a diagnosis, and caller and nurse call-taker discussion of health and medical issues. • The majority of calls, 92%, achieved parent-nurse alignment by the conclusion of the call. However, 8% did not. • The 8% of calls that were not aligned require further quantitative and qualitative investigation of the interactional features. The findings are pertinent in the current context where Child Health Line now resides within 13HEALTH. These findings indicate: 1. A high demand for parenting advice. 2. Nurse call-takers have a high level of competency in dealing with calls about parenting and normal child development, which is the remit of the CHL. 3. Nurse call-takers and callers achieve a high degree of alignment when both parties agree on a course of action. 4. There is scope for developing professional practice in calls that present difficulties in terms of call content, interactional behaviour and call closure. Recommendations of the project: 1. There are numerous opportunities for further research on interactional aspects of calls to the CHL, such as further investigations of the interactional features and the association of the features to alignment and nonalignment. The rich and detailed insights into the patterns of nurse-parent interactions were afforded by the audio-recording and analysis of calls to the CHL. 2. The regular recording of calls would serve as a way of increasing understanding of the type and nature of calls received, and provide a valuable training resource. Recording and analysing calls to CHL provides insight into the operation of the service, including evidence about the effectiveness of triaging calls. 3. Training in both recognising and dealing with problem calls may be beneficial. For example, calls where the caller showed strong emotion, appeared stressed, frustrated or troubled were less likely to be rated as aligned calls. In calls where the callers described being ‘at their wits end’, or responded to each proposed suggestion with ‘I’ve tried that’, the callers were fairly resistant to advice-giving. 4. Training could focus on strategies for managing calls relating to parenting support and advice, and parental well-being. The project found that these calls were more likely to be rated as being nonaligned. 5. With the implementation of 13HEALTH, future research could compare nurse-parent interaction following the implementation of triaging. Of the calls, 21% had both medical and parenting topics discussed and 5.3% discussed medical, parenting and information topics. Added to this, in 12% of calls, there was ambiguity between the caller and nurse call-taker as to whether the problem was medical or behavioural.

Developing and benchmarking native Linux applications on Android

Smartphones get increasingly popular where more and more smartphone platforms emerge. Special attention was gained by the open source platform Android which was presented by the Open Handset Alliance (OHA) hosting members like Google, Motorola, and HTC. Android uses a Linux kernel and a stripped-down userland with a custom Java VM set on top. The resulting system joins the advantages of both environments, while third-parties are intended to develop only Java applications at the moment. In this work, we present the benefit of using native applications in Android. Android includes a fully functional Linux, and using it for heavy computational tasks when developing applications can bring in substantional performance increase. We present how to develop native applications and software components, as well as how to let Linux applications and components communicate with Java programs. Additionally, we present performance measurements of native and Java applications executing identical tasks. The results show that native C applications can be up to 30 times as fast as an identical algorithm running in Dalvik VM. Java applications can become a speed-up of up to 10 times if utilizing JNI.

Naming or creating a problem?

In this chapter, we are going to consider how language and practice interact in the process of supporting the learning of students with diverse abilities. You will learn that it is necessary for teachers to understand that while labels carry an administrative function in schools, when used carelessly they operate to stigmatise and exclude those whom we are working to include. This chapter will introduce the concept of equity and explain how the dilemma of difference emerges when we try to determine who should receive support and how. The chapter will also explain how an appreciation of language can help to inform and transform our pedagogy. An example of inclusion in action is provided to illustrate how inclusive language in practice can promote deep cultural changes that benefit both students and teachers. The process of determining appropriate and effective education of students with additional support requirements is troubled by what some refer to as the ‘dilemma of difference’. This dilemma derives mainly from the nature of language and our need to use certain words, terms and categories in order to share common understandings. Without these, educators cannot hope to arrive on the same page, yet such words can take on a life of their own; influencing thoughts, perspectives and attitudes in ways that far outstrip original intentions. The drive for clarity, however, through definition and diagnostic classification can ultimately obscure because of the cultural meanings that become invested within these terms through their use over time and in different professional contexts. In effect, trying to define “difference” in order to provide the right support to particular students is a process that entrenches normative boundaries that in turn create, accentuate and stigmatise whatever we have decided constitutes difference. Language is thus a powerful and dangerous weapon but, like other weapons, language can both hurt and defend. Understanding the power of language enables educators to use it both wisely and safely to the maximum benefit of their students. This chapter will discuss how teachers can recognise and support their students in ways that avoid stigma and the closure of stereotyping.