The Adaptiveness in Stock Markets: Testing the Stylized Facts in the DAX 30

By testing a simple asset pricing model of heterogeneous agents to characterize the power-law behavior of the DAX 30 from 1975 to 2007, we provide supporting evidence on empirical findings that investors and fund managers use combinations of fixed and switching strategies based on fundamental and technical analysis when making investment decisions. By conducting econometric analysis via Monte Carlo simulations, we show that the autocorrelation patterns, the estimates of the power-law decay indices, (FI)GARCH parameters, and tail index of the model match closely the corresponding estimates for the DAX 30. A mechanism analysis based on the calibrated model provides further insights into the explanatory power of heterogeneous agent models.

Substance use and misuse in burn patients: testing the classical hypotheses of the interaction between posttraumatic symptomatology and substance use

Background: We aimed to test whether the three classical hypotheses of the interaction between posttraumatic symptomatology and substance use (high risk of trauma exposure, susceptibility for posttraumatic symptomatology, and self-medication of symptoms), may be useful in the understanding of substance use among burn patients. Methods: We analysed substance use data (nicotine, alcohol, cannabis, amphetamines, cocaine, opiates, and tranquilizers) and psychopathology measures among burn patients admitted to a Burns Unit and enrolled in a longitudinal observational study. Lifetime substance use information (n = 246) was incorporated to analyses aiming to test the high risk hypothesis. Only patients assessed for psychopathology in a six months follow-up (n = 183) were included in prospective analyses testing the susceptibility and self-medication hypotheses. Results: Regarding the high risk hypothesis, results show a higher proportion of heroin and tranquilizer users compared to the general population. Furthermore, in line with the susceptibility hypothesis, higher levels of symptomatology were found in lifetime alcohol, tobacco and drug users during recovery. The self-medication hypothesis could be tested partially due to the hospital stay “cleaning” effect, but severity of symptoms was linked to caffeine, nicotine, alcohol and cannabis use after discharge. Conclusions: We found that the three classical hypotheses could be used to understand the link between traumatic experiences and substance use explaining different patterns of burn patient’s risk for trauma exposure and emergence of symptomatology.

Implementing and testing branch-and-bound algorithm for the quadratic 0-1 problem on transputers

Discrete optimization problems are very difficult to solve, even if the dimention is small. For most of them the problem of finding an ε-approximate solution is already NP-hard. The branch-and-bound algorithms are the most used algorithms for solving exactly this sort of problems.

A mechanical design approach to testing fluid turbulence over a rough surface

Senior thesis written for Oceanography 444

Using official data sources to analyse the light goods vehicle fleet and operations in Britain

Report produced as part of the Green Logistics project (EPSRC and Department for Transport funded). Light goods vehicles play a key role in providing goods and services to businesses and other organisations in Britain. In order to better understand the relationship between costs and benefits of LGV operations it is necessary to gain a more detailed appreciation of the roles that these vehicles are fulfilling. This report aims to provide a better understanding of this sector by examining LGV fleet and operations in terms of their characteristics, utilisation and efficiency and purpose. Important potential external impacts of LGVs are also considered.

Internalising the external costs of light goods vehicle transport in Britain

Report produced as part of the Green Logistics project (EPSRC and Department for Transport funded). To what extent do the taxes paid by the light goods vehicles (LGVs) users in Britain cover their allocated infrastructural, environmental and congestion costs? This report is a continuation of a study on the internalisation of the external costs of heavy goods vehicle activity. Research undertaken jointly by the Transport Studies Group at University of Westminster and Logistics Research Centre at Heriot-Watt University has attempted to answer this question using official government transport statistics and monetary valuations for the external costs.

Internalising the external costs of light and heavy goods vehicle transport in London

Report produced as part of the Green Logistics project (EPSRC and Department for Transport funded). This report provides estimates of the total external costs of LGV and HGV operations in London. In 2006, total LGV and HGV activity imposed external costs of approximately £1.75-£1.8 billion using low, medium and high emission cost values. About 27 per cent of these costs were internalised by duties and taxes paid by LGV operators, compared with 26% in the case of HGVs. If congestion costs are excluded, taxes and duties paid by LGV operators are estimated to be 155% of LGVs' allocated infrastructural and environmental costs, compared with 85% in the case of HGVs. When using the medium emission cost values, LGVs accounted for 56% of these external costs in London and HGVs for 44%.

Literature Review WM9: Part II - light goods vehicles in urban areas, carried as as part Work Module 1, Green Logistics Project

LGVs are of ever-greater importance in terms of the final delivery of many time-critical, high value goods and are also widely used in industries that provide a wide range of critical support services. There are almost five times as many LGVs as there are HGVs (goods vehicles over 3.5 tonnes gross vehicle weight) currently licensed in Britain. The LGV fleet in Britain is growing at a faster rate than the HGV fleet, and the LGV fleet travels more than twice as many vehicle kilometres each year than the total HGV fleet. LGVs perform a far greater proportion of their total distance travelled in urban areas than HGVs, and consume 25% of the total diesel and 3% of the total petrol used by all motorised road transport vehicles in Britain.