Power law analysis of financial index dynamics

Power law PL and fractional calculus are two faces of phenomena with long memory behavior. This paper applies PL description to analyze different periods of the business cycle. With such purpose the evolution of ten important stock market indices DAX, Dow Jones, NASDAQ, Nikkei, NYSE, S&P500, SSEC, HSI, TWII, and BSE over time is studied. An evolutionary algorithm is used for the fitting of the PL parameters. It is observed that the PL curve fitting constitutes a good tool for revealing the signal main characteristics leading to the emergence of the global financial dynamic evolution.

Do Spirituality and Faith Make a Difference? Report from the Southern European Psycho-Oncology Study Group

OBJECTIVE: In the last decade, some attention has been given to spirituality and faith and their role in cancer patients' coping. Few data are available about spirituality among cancer patients in Southern European countries, which have a big tradition of spirituality, namely, the Catholic religion. As part of a more general investigation (Southern European Psycho-Oncology Study--SEPOS), the aim of this study was to examine the effect of spirituality in molding psychosocial implications in Southern European cancer patients. METHOD: A convenience sample of 323 outpatients with a diagnosis of cancer between 6 to 18 months, a good performance status (Karnofsky Performance Status > 80), and no cognitive deficits or central nervous system (CNS) involvement by disease were approached in university and affiliated cancer centers in Italy, Spain, Portugal, and Switzerland (Italian speaking area). Each patient was evaluated for spirituality (Visual Analog Scale 0-10), psychological morbidity (Hospital Anxiety and Depression Scale--HADS), coping strategies (Mini-Mental Adjustment to Cancer--Mini-MAC) and concerns about illness (Cancer Worries Inventory--CWI). RESULTS. The majority of patients (79.3%) referred to being supported by their spirituality/faith throughout their illness. Significant differences were found between the spirituality and non-spirituality groups (p ≤ 0.01) in terms of education, coping styles, and psychological morbidity. Spirituality was significantly correlated with fighting spirit (r = -0.27), fatalism (r = 0.50), and avoidance (r = 0.23) coping styles and negatively correlated with education (r = -0.25), depression (r = -0.22) and HAD total (r = -0.17). SIGNIFICANCE OF RESULTS: Spirituality is frequent among Southern European cancer patients with lower education and seems to play some protective role towards psychological morbidity, specifically depression. Further studies should examine this trend in Southern European cancer patients.

Tensile stress–crack width law for steel fibre reinforced self-compacting concrete obtained from indirect (splitting) tensile tests

In this work, the fracture mode I parameters of steel fibre reinforced self-compacting concrete (SFRSCC) were derived from the numerical simulation of indirect splitting tensile tests. The combined experimental and numerical research allowed a comparison between the stress-crack width (σ - w) relationship acquired straightforwardly from direct tensile tests, and the σ - w response derived from inverse analysis of the splitting tensile tests results. For this purpose a comprehensive nonlinear 3D finite element (FE) modeling strategy was developed. A comparison between the experimental results obtained from splitting tensile tests and the corresponding FE simulations confirmed the good accuracy of the proposed strategy to derive the σ – w for these composites. It is concluded that the post-cracking tensile laws obtained from inverse analysis provided a close relationship with the ones obtained from the experimental uniaxial tensile tests.

On the institution of the moral subject: on the commander and the commanded in Nietzsche's discussion of law

The article discusses how Nietzsche understands the institution of law and morals in distinction to Kant and the Christian tradition. It argues that Nietzsche to a large extent is inspired by the paradigm-shift toward a evolutionary biological thinking introduced by several of his peers in the late 19th century, among else F. A. Lange, who sees this shift as a sobering scientific-materialistic alternative to Kant. In Nietzsche, the Kantian moral imperative is replaced with a notion of a morality emerging thanks to historical, or pre-historical, civilizational processes, imposed on a feebleminded human without any inherent rational dispositions to obey Law. It is also a process, which rather than universalizing the human, splits it in a duality where one part obeys old immediate self-interests and another part obeys new 'commands,' having been shouted 'into the ear' by a so-called 'commander.' The compliance with law takes two radically different forms in Nietzsche: servile and mediocre individuals need to be exposed to discipline and punishment in order to adopt Law; while so-called 'sovereign' individuals are able to impose law upon themselves. The figure of the 'sovereign' has consequently been an issue for vigorous debate in especially the Anglo-Saxon tradition of Nietzsche research, since his apparent 'respect for law' and 'sense of duty' reiterate typical Kantian qualities. Relating to these discussions, I suggest that Nietzsche's 'sovereign' (in one context) is identical his 'commander' (in other contexts). When the 'sovereign' as such imposes law upon himself and others, his act is conventional and arbitrary (like language in Saussure), and is rather irrational than rational as in Kant. His will is not a good will, nor a rational will with a vision of human autonomy. His command of himself and others is a performative, thus without truth-value (like illocutionary speech-acts in Austin and Searle).

Rocket tracking and decoupling eigenstructure control law

A control law was designed for a satellite launcher ( rocket ) vehicle using eigenstructure assignment in order that the vehicle tracks a reference attitude and also to decouple the yaw response from roll and pitch manoeuvres and to decouple the pitch response from roll and yaw manoeuvres. The design was based on a complete linear coupled model obtained from the complete vehicle non linear model by linearization at each trajectory point. After all, the design was assessed with the vehicle time varying non-linear model showing a good performance and robustness. The used design method is explained and a case study for the Brazilian satellite launcher ( VLS Rocket ) is reported.

Corruption, income, and rule of law: empirical evidence from developing and developed economies

This article presents an empirical analysis based on cross-country data concerned with two points regarding corruption: (i) its effects on income; and (ii) how to mitigate corruption. The findings can be highlighted in two points. Firstly the idea that corruption is intrinsically connected with income is confirmed. Secondly, the traditional argument that an increase in rule of law represents a good strategy in the fight against corruption is valid for developing countries. Furthermore, this study reveals that the search for increasing the human development index represents a rule of thumb for high levels of income and to control corruption.

Parental and Successor Liability in EU Competition Law Infringements

Under EU competition law, parent companies may be held jointly and severally liable for the competition law infringements committed by their subsidiaries. The possibility of holding parent companies liable demonstrates a significant exception from the idea of separate legal entities. However, it is not the only deviation developed under EU competition law. In cases, where the legal entity responsible for the anti-competitive conduct has changed its form, liability can be attributed to the new operator, in particular, to its successor. The principles of legal certainty and legitimate expectations are issues that surround the doctrines of parental and successor liability. The aim of this thesis is to present a comprehensive comparative analysis of the parental and successor liability doctrines and to clarify the conditions under which it is possible to attribute liability for the infringements of EU competition law. The main purpose is therefore to demonstrate the problems related to the allocation of liability and to discuss whether these liability principles, established to assure the effective enforcement of the EU competition rules, are good solutions. The research methods used in this thesis are the legal dogmatic approach and the comparative law approach. The former enables the possibility of using the case law and legislation as a framework in which the difficulties concerning the application of parental and successor liability can be discussed while the latter ensures the comparison of the characteristics and judgments. The doctrines of parental and successor liability are both well established, but the application practice has caused several difficulties. These problems derive from, inter alia, the broadness and disjointed developed of the doctrines. There has been much recent case law dealing with these issues and having the potential to open up a considerable risk and to allocate strict liability for parent and successor companies.

Whales Get Beached, Don't They? An Essay on the Law and Economics of Copyrights in Music

L’auteur fonde son argument sur l’importance déterminante des conséquences économiques de la numérisation sur l’évolution des droits d’auteur afférant à la musique. La musique numérisée correspondant à un bien public, les prix de sa négociation tendent vers 0, et seules les contraintes légales telles que les droits d’auteur ou les ententes sur les prix, qui sont généralement proscrites par les lois sur la concurrence, peuvent sauver l’entrant intrépide ou l’opérateur mis sur le sable. Alors que les propriétaires de droits d’auteur maximisent leurs profits en prônant l’extension de leur champ d’application et en poursuivant leur application par les tribunaux, leur valeur sociale est mesurée en termes d’efficacité pour la promotion de l’innovation. L’industrie de la musique a projeté le champ d’application des droits d’auteur si grossièrement loin au–delà des limites de la raison par rapport à la musique numérisée que leur position légale sera attaquée inlassablement sur tous les fronts, que ce soit par une banalisation des infractions, ou par la résistance devant les tribunaux ou par des campagnes visant une réforme législative.

The Application of a Pluralist Approach of Global Administrative Law on the Governance of Doping in Sport

Plusieurs problèmes liés à l'utilisation de substances et méthodes interdites de dopage dans les sports posent de grands défis à la gouvernance antidopage. Afin de lutter contre le dopage, certains pays ont mis en oeuvre des cadres juridiques basés exclusivement sur le droit pénal tandis que d'autres pays ont plutôt misé sur des mécanismes et organismes spécialisés trouvant fondement en droit privé ou sur un régime hybride de droit public et privé. Ces différentes approches réglementaires ont pour conséquence de faire en sorte qu’il est très difficile de lutter efficacement contre le dopage dans les sports, notamment parce que leur exécution requiert un degré de collaboration internationale et une participation concertée des autorités publiques qui est difficile à mettre en place. À l’heure actuelle, on peut par exemple observer que les États n’arrivent pas à contrer efficacement la participation des syndicats et organisations transnationales liés au crime organisé dans le marché du dopage, ni à éliminer des substances et méthodes de dopage interdites par la réglementation. Par ailleurs, la gouvernance antidopage basée sur les règles prescrites par l’Agence mondiale antidopage prévoit des règles et des normes distinctes de dopage distinguant entre deux catégories de personnes, les athlètes et les autres, plaçant ainsi les premiers dans une position désavantageuse. Par exemple, le standard de responsabilité stricte sans faute ou négligence imposé aux athlètes exige moins que la preuve hors de tout doute raisonnable et permet l'utilisation de preuves circonstancielles pour établir la violation des règles antidopages. S'appliquant pour prouver le dopage, ce standard mine le principe de la présomption d'innocence et le principe suivant lequel une personne ne devrait pas se voir imposer une peine sans loi. D’ailleurs, le nouveau Code de 2015 de l’Agence attribuera aux organisations nationales antidopage (ONADs) des pouvoirs d'enquête et de collecte de renseignements et ajoutera de nouvelles catégories de dopage non-analytiques, réduisant encore plus les droits des athlètes. Dans cette thèse, nous discutons plus particulièrement du régime réglementaire de l’Agence et fondé sur le droit privé parce qu’il ne parvient pas à répondre aux besoins actuels de gouvernance mondiale antidopage. Nous préconisons donc l’adoption d’une nouvelle approche de gouvernance antidopage où la nature publique et pénale mondiale du dopage est clairement reconnue. Cette reconnaissance combiné avec un modèle de gouvernance adapté basé sur une approche pluraliste du droit administratif global produira une réglementation et une administration antidopage mieux acceptée chez les athlètes et plus efficace sur le plan des résultats. Le nouveau modèle de gouvernance que nous proposons nécessitera toutefois que tous les acteurs étatiques et non-étatiques ajustent leur cadre de gouvernance en tenant compte de cette nouvelle approche, et ce, afin de confronter les défis actuels et de régler de manière plus satisfaisante les problèmes liés à la gouvernance mondiale du dopage dans les sports.

Forest and the Law

Forest is essential for the healthy subsistence of human being on earth. Law has been framed to regulate exploitation of forest.This study is an analysis of the law relating to forest from an environmental perspective.Practical suggestions are also made for the better protection of forest .Forest is a valuable component of human environment.For healthy subsistence of human beings on earth it is essential that at least one third of the land area on earth should be under forest cover. Forest helps in keeping air and water fresh and climate good.The Indian Forest Act 1927 and State legislation relating to forest impose Governmental control over forests by classifying them into reserved forests. Protected forests and village forests.Effective environmental impact studies facilitate adoption of the practice of sustainable development.Permission should not be granted for a project before examination of its impact on the flora and fauna in forest.Kerala, much of the vested forest remains under the control of the State Government and are managed like reserved forests.Infrastructural facilities require improvement in almost all States for protecting forest.Inter-State problems can be minimised if a central forest legislation is applied uniformly throughout India.Voluntary organisations should be encouraged to taxe part actively in the programmes for conserving forest and wildlife.The new Forest Act should provide for effective environmental impact study before development projects are undertaken in forest areas. The guidelines for this should be clearly laid down in the Act.The law relating to forest should also clearly lay down the guidelines for implementing social forestry programmes. The Forest Department should be authorised to lease lands for planting useful trees. The new forest legislation should also recognise the traditional tribal rights in forest. The Indian Forest Act 1927 and the State legislation relating to forest with their outdated revenue policy and scheme should be replaced by such a new forest legislation framed with an environmental peres-pective. The new law should be uniformly applied throughout India .

Caimanes and the Water - Infinite Legal Struggles about a Finite Good

This report is intended to shed more light on the ongoing water struggle in Caimanes, a small urban area in the central northern area of Chile, neighbouring Latin America’s biggest tailings dam. Undoubtedly, the water in Caimanes is running out and the conflict between the opponents of the dam and its owner, a multinational copper enterprise, is getting more and more attention by the national and also international media. In the discussion a judgment of the Chilean Supreme Court from last October plays a central role, because it is said to have granted the people from Caimanes their right to water. After a short introduction with some details about Camaines and the tailings from the dam El Mauro, the key points of this judgment shall be outlined. The final part of the report is dedicated to various institutional problems of the Chilean resources law and policy that can become virulent for the water supply and the environmental well-being of many other urban areas in the industrialized north of Chile.

Faculty Good Practice - Event

Slides and link to Panopto recording about 'good practice' within from across the Faculty Adam Procter - Winchester School of Art. Liz Williams - Southampton Law School. Jean Leah - School of Management.

Influencia de las creencias religiosas cristianas en la decisión de realizar suicidio asistido al final de la vida

El suicidio asistido como una posible opción al final de la vida, es una idea que hasta ahora está siendo considerada, ya que existen argumentaciones a favor y en contra que han generado controvertidos debates a su alrededor. Algunos de los argumentos en contra están basados en los principios de las instituciones religiosas de orden cristiano, las cuales defienden el valor sagrado de la vida de las personas y la aceptación del sufrimiento como un acto de amor profundo y sumisión a los mandatos de Dios, el creador. Mientras del lado contrario, se encuentran quienes defienden el procedimiento, impulsando la autonomía y la autodeterminación que cada persona tiene sobre su vida. La revisión de la literatura realizada no sólo permite ampliar los argumentos de estas dos posiciones, sino que también permite conocer la historia del suicidio asistido, la posición que este procedimiento tiene en diferentes países del mundo, incluyendo a Colombia, y finalmente se presentan las contribuciones de la psicología entorno al procedimiento en discusión.

Asymmetrically fair rules for an indivisible good problem with a budget constraint

We study a particular restitution problem where there is an indivisible good (land or property) over which two agents have rights: the dispossessed agent and the owner. A third party, possibly the government, seeks to resolve the situation by assigning rights to one and compensate the other. There is also a maximum amount of money available for the compensation. We characterize a family of asymmetrically fair rules that are immune to strategic behavior, guarantee minimal welfare levels for the agents, and satisfy the budget constraint.