Research on the influence of behavioral forces that motivate trader behavior and sentiment- a prospect theory exegesis

This study focuses on empirical investigations and seeks implications by utilizing three different methodologies to test various aspects of trader behavior. The first methodology utilizes Prospect Theory to determine trader behavior during periods of extreme wealth contracting periods. Secondly, a threshold model to examine the sentiment variable is formulated and thirdly a study is made of the contagion effect and trader behavior. The connection between consumers' sense of financial well-being or sentiment and stock market performance has been studied at length. However, without data on actual versus experimental performance, implications based on this relationship are meaningless. The empirical agenda included examining a proprietary file of daily trader activities over a five-year period. Overall, during periods of extreme wealth altering conditions, traders "satisfice" rather than choose the "best" alternative. A trader's degree of loss aversion depends on his/her prior investment performance. A model that explains the behavior of traders during periods of turmoil is developed. Prospect Theory and the data file influenced the design of the model. Additional research included testing a model that permitted the data to signal the crisis through a threshold model. The third empirical study sought to investigate the existence of contagion caused by declining global wealth effects using evidence from the mining industry in Canada. Contagion, where a financial crisis begins locally and subsequently spreads elsewhere, has been studied in terms of correlations among similar regions. The results provide support for Prospect Theory in two out of the three empirical studies. The dissertation emphasizes the need for specifying precise, testable models of investors' expectations by providing tools to identify paradoxical behavior patterns. True enhancements in this field must include empirical research utilizing reliable data sources to mitigate data mining problems and allow researchers to distinguish between expectations-based and risk-based explanations of behavior. Through this type of research, it may be possible to systematically exploit "irrational" market behavior.

Characterization of wood biochar and evaluation of its adsorption potential for removal of sulphate from produced water in offshore oil and gas industry

This thesis analyses the potential of wood biochar as an adsorbent in removal of sulphate from produced water. In worldwide offshore oil and gas industry, a large volume of waste water is generated as produced water. Sulphur compounds present in these produced water streams can cause environmental problems, regulatory problems and operational issues. Among the various sulphur removal technologies, the adsorption technique is considered as a suitable method since the design is simple, compact, economical and robust. Biochar has been studied as an adsorbent for removal of contaminants from water in a number of studies due to its low cost, potential availability, and adsorptive characteristics. In this study, biochar produced through fast pyrolysis of bark, hardwood sawdust, and softwood sawdust were characterized through a series of tests and were analysed for adsorbent properties. Treating produced water using biochar sourced from wood waste is a two-fold solution to environmental problems as it reduces the volume of these wastes. Batch adsorption tests were carried out to obtain adsorption capacities of each biochar sample using sodium sulphate solutions. The highest sulphur adsorption capacities obtained for hardwood char, softwood char and bark char were 11.81 mg/g, 9.44 mg/g, and 7.94 mg/g respectively at 10 °C and pH=4. The adsorption process followed the second order kinetic model and the Freundlich isotherm model. Adsorption reaction was thermodynamically favourable and exothermic. The overall analysis concludes that the wood biochar is a feasible, economical, and environmental adsorbent for removal of sulphate from produced water.

A Study of the Behavioural and Affective Profile of Inpatient Adolescent Girls Presenting a Restrictive Anorexia Nervosa

Essai doctoral d'intégration présenté à la Faculté des Études Supérieures et Postdoctorales en vue de l'obtention du grade de Docteur en psychologie (D.Psy.), en psychologie clinique

Bayesian Emulation for Sequential Modeling, Inference and Decision Analysis

The advances in three related areas of state-space modeling, sequential Bayesian learning, and decision analysis are addressed, with the statistical challenges of scalability and associated dynamic sparsity. The key theme that ties the three areas is Bayesian model emulation: solving challenging analysis/computational problems using creative model emulators. This idea defines theoretical and applied advances in non-linear, non-Gaussian state-space modeling, dynamic sparsity, decision analysis and statistical computation, across linked contexts of multivariate time series and dynamic networks studies. Examples and applications in financial time series and portfolio analysis, macroeconomics and internet studies from computational advertising demonstrate the utility of the core methodological innovations.

Chapter 1 summarizes the three areas/problems and the key idea of emulating in those areas. Chapter 2 discusses the sequential analysis of latent threshold models with use of emulating models that allows for analytical filtering to enhance the efficiency of posterior sampling. Chapter 3 examines the emulator model in decision analysis, or the synthetic model, that is equivalent to the loss function in the original minimization problem, and shows its performance in the context of sequential portfolio optimization. Chapter 4 describes the method for modeling the steaming data of counts observed on a large network that relies on emulating the whole, dependent network model by independent, conjugate sub-models customized to each set of flow. Chapter 5 reviews those advances and makes the concluding remarks.

Ground and Electronic Excited States from Pairing Matrix Fluctuation and Particle-Particle Random Phase Approximation

The accurate description of ground and electronic excited states is an important and challenging topic in quantum chemistry. The pairing matrix fluctuation, as a counterpart of the density fluctuation, is applied to this topic. From the pairing matrix fluctuation, the exact electron correlation energy as well as two electron addition/removal energies can be extracted. Therefore, both ground state and excited states energies can be obtained and they are in principle exact with a complete knowledge of the pairing matrix fluctuation. In practice, considering the exact pairing matrix fluctuation is unknown, we adopt its simple approximation --- the particle-particle random phase approximation (pp-RPA) --- for ground and excited states calculations. The algorithms for accelerating the pp-RPA calculation, including spin separation, spin adaptation, as well as an iterative Davidson method, are developed. For ground states correlation descriptions, the results obtained from pp-RPA are usually comparable to and can be more accurate than those from traditional particle-hole random phase approximation (ph-RPA). For excited states, the pp-RPA is able to describe double, Rydberg, and charge transfer excitations, which are challenging for conventional time-dependent density functional theory (TDDFT). Although the pp-RPA intrinsically cannot describe those excitations excited from the orbitals below the highest occupied molecular orbital (HOMO), its performances on those single excitations that can be captured are comparable to TDDFT. The pp-RPA for excitation calculation is further applied to challenging diradical problems and is used to unveil the nature of the ground and electronic excited states of higher acenes. The pp-RPA and the corresponding Tamm-Dancoff approximation (pp-TDA) are also applied to conical intersections, an important concept in nonadiabatic dynamics. Their good description of the double-cone feature of conical intersections is in sharp contrast to the failure of TDDFT. All in all, the pairing matrix fluctuation opens up new channel of thinking for quantum chemistry, and the pp-RPA is a promising method in describing ground and electronic excited states.

A Study of the Behavioural and Affective Profile of Inpatient Adolescent Girls Presenting a Restrictive Anorexia Nervosa

Essai doctoral d'intégration présenté à la Faculté des Études Supérieures et Postdoctorales en vue de l'obtention du grade de Docteur en psychologie (D.Psy.), en psychologie clinique

A stereo-image analysis JAVA software with links to executable and source code

Scientists planning to use underwater stereoscopic image technologies are often faced with numerous problems during the methodological implementations: commercial equipment is too expensive; the setup or calibration is too complex; or the imaging processing (i.e. measuring objects in the stereo-images) is too complicated to be performed without a time-consuming phase of training and evaluation. The present paper addresses some of these problems and describes a workflow for stereoscopic measurements for marine biologists. It also provides instructions on how to assemble an underwater stereo-photographic system with two digital consumer cameras and gives step-by-step guidelines for setting up the hardware. The second part details a software procedure to correct stereo-image pairs for lens distortions, which is especially important when using cameras with non-calibrated optical units. The final part presents a guide to the process of measuring the lengths (or distances) of objects in stereoscopic image pairs. To reveal the applicability and the restrictions of the described systems and to test the effects of different types of camera (a compact camera and an SLR type), experiments were performed to determine the precision and accuracy of two generic stereo-imaging units: a diver-operated system based on two Olympus Mju 1030SW compact cameras and a cable-connected observatory system based on two Canon 1100D SLR cameras. In the simplest setup without any correction for lens distortion, the low-budget Olympus Mju 1030SW system achieved mean accuracy errors (percentage deviation of a measurement from the object's real size) between 10.2 and -7.6% (overall mean value: -0.6%), depending on the size, orientation and distance of the measured object from the camera. With the single lens reflex (SLR) system, very similar values between 10.1% and -3.4% (overall mean value: -1.2%) were observed. Correction of the lens distortion significantly improved the mean accuracy errors of either system. Even more, system precision (spread of the accuracy) improved significantly in both systems. Neither the use of a wide-angle converter nor multiple reassembly of the system had a significant negative effect on the results. The study shows that underwater stereophotography, independent of the system, has a high potential for robust and non-destructive in situ sampling and can be used without prior specialist training.

Depth, age, strontium isotopic ratios and trace elemental ratios of samples from thirteen DSDP and ODP holes

Large variations exist between published mid-Cretaceous (late Barremian to early Turonian stages) seawater Sr-isotope stratigraphies; this has resulted in disparate interpretations of crustal production rates. We report on a detailed investigation of seawater Sr-isotope stratigraphy based on foraminifers and, where available, on inoceramid bivalves from 12 mid-Cretaceous Deep Sea Drilling Project and Ocean Drilling Program sections. The effects of diagenesis are assessed using scanning electron microscope observations and trace-elemental analyses, but are best distinguished by comparing the 87Sr/86Sr values of similar-age samples from different sites. Strontium-isotope analyses compiled from 9 of 12 sites that have detailed age control define one band of common values. This band is used as a composite curve, which presumably represents seawater 87Sr/86Sr values. The composite curve shows a "trough" of markedly lower 87Sr/86Sr values in the Aptian and early Albian stages, higher but constant values for the middle Albian-Cenomanian stages, followed by a decrease in 87Sr/86Sr values in the early Turonian. Variations between published mid-Cretaceous Sr-isotope records result from diagenetic alteration, analytical problems, and the diverse biostratigraphic approaches and assumptions used to estimate sample ages. When preexisting age data are made consistent, the composite record shows close similarities with data sets derived from measurements of macrofossils in land sections of Europe and North America. The interval of decreased 87Sr/86Sr values in the Aptian-Albian stages overlaps with the pulse of mid-plate volcanic activity that produced the Ontong Java, Manihiki, and Kerguelen Plateaus. The exact age and the shape of the trough, however, are consistent with increased spreading rates at oceanic ridges, given the existing data on the timing of mid-plate volcanic activity.

Do we need to rethink our waterways? Values of ageing waterways in current and future society

In the past canals were developed, and some rivers were heavily altered, driven by the need for good transportation infrastructure. Major investments were made in navigation locks, weirs and artificial embankments, and many of these assets are now reaching the end of their technical lifetime. Since then the concept of integrated water resource management (IWRM) emerged as a concept to manage and develop water-bodies in general. Two pressing problems arise from these developments: (1) major reinvestment is needed in order to maintain the transportation function of these waterways, and (2), it is not clear how the implementation of the concept of IWRM can be brought into harmony with such reinvestment. This paper aims to illustrate the problems in capital-intensive parts of waterway systems, and argues for exploring value-driven solutions that rely on the inclusion of multiple values, thus solving both funding problems and stakeholder conflicts. The focus on value in cooperative strategies is key to defining viable implementation strategies for waterway projects.

Television history: archives, excavation and the future. A discussion

This article considers possible futures for television (TV) studies, imagining how the discipline might evolve more productively over the next 10 years and what practical steps are necessary to move towards those outcomes. Conducted as a round-table discussion between leading figures in television history and archives, the debate focuses on the critical issue of archives, considering and responding to questions of access/inaccessibility, texts/contexts, commercial/symbolic value, impact and relevance. These questions reflect recurrent concerns when selecting case studies for historical TV research projects: how difficult is it to access the material (when it survives)? What obstacles might be faced (copyright, costs, etc.) when disseminating findings to a wider public? The relationship between the roles of ‘researcher’ and ‘archivist’ appears closer and more mutually supportive in TV studies than in other academic disciplines, with many people in practice straddling the traditional divide between the two roles, combining specialisms that serve to further scholarship and learning as well as the preservation of, and broad public engagements with, collections. The Research Excellence Framework’s imperative for academic researchers to achieve ‘impact’ in broader society encourages active and creative collaboration with those based in public organizations, such as the British Film Institute (BFI), who have a remit to reach a wider public. The discussion identifies various problems and successes experienced in collaboration between the academic, public and commercial sectors in the course of recent and ongoing research projects in TV studies.

Improving innovation and performance of Social Enterprises: Knowing what they know

Social Enterprises (SEs) are normally micro and small businesses that trade to tackle social problems, and to improve communities, people’s life chances, and the environment. Thus, their importance to society and economies is increasing. However, there is still a need for more understanding of how these organisations operate, perform, innovate and scale-up. This knowledge is crucial to design and provide accurate strategies to enhance the sector and increase its impact and coverage. Obtaining this understanding is the main driver of this paper, which follows the theoretical lens of the Knowledge-based View (KBV) theory to develop and assess empirically a novel model for knowledge management capabilities (KMCs) development that improves performance of SEs. The empirical assessment consisted of a quantitative study with 432 owners and senior members of SEs in UK, underpinned by 21 interviews. The findings demonstrate how particular organisational characteristics of SEs, the external conditions in which they operate, and informal knowledge management activities, have created overall improvements in their performance of up to 20%, based on a year-to-year comparison, including innovation and creation of social and environmental value. These findings elucidate new perspectives that can contribute not only to SEs and SE supporters, but also to other firms.

Critical Marketing in the Classroom: Possibilities and Challenges

Critical marketing studies are currently on the margins of the discipline, and the ideas and challenges to conventional marketing thought posed by these critiques are rarely examined in the marketing classroom. Drawing largely from debates in the management literature, discusses the problems and considers the possibilities of integrating critical reflection into the marketing curriculum.