A multiplicative model for volume and volatility

We first present prima facie evidence for the predictions generated by the mixture of distributions hypothesis, using daily German stock returns and their corresponding daily trading volumes and number of trades. These last two variables are used as proxies for the stochastic rate of information arrival when one wishes to explain GARCH effects by adhering to the mixture of distributions hypothesis. We show that there is no need for these proxies when the stochastic rate of information arrival follows an inverted gamma distribution. Daily trading volume and the daily number of trades, however, empirically provide an explanation for the occurrence of conditional heteroskedasticity of the GARCH form. We estimate several specifications where daily trading volume is included in the conditional variance equation additively and multiplicatively. The new multiplicative specification clearly outperforms the additive specification.     

C*-algebras associated with interval maps

For each piecewise monotonic map of , we associate a pair of C*-algebras and and calculate their K-groups. The algebra is an AI-algebra. We characterize when and are simple. In those cases, has a unique trace, and is purely infinite with a unique KMS state. In the case that is Markov, these algebras include the Cuntz-Krieger algebras , and the associated AF-algebras . Other examples for which the K-groups are computed include tent maps, quadratic maps, multimodal maps, interval exchange maps, and -transformations. For the case of interval exchange maps and of -transformations, the C*-algebra coincides with the algebras defined by Putnam and Katayama-Matsumoto-Watatani, respectively.

     

An effective modeling and solution approach for the generalized independent set problem

The generalized independent set (GIS) problem was first introduced by Hochbaum and Pathria (Forest Sci 43(4), 544–554, 1997) and independently explored in greater detail by Hochbaum (Manage Sci 50(6), 709–123, 2004). This problem, with applications in forest management and a variety of related areas, is a generalization of the classical maximum independent set problem. In this paper we highlight a natural, nonlinear formulation for the problem that is an attractive alternative to the linear model found in the literature. The effectiveness of this alternative formulation is demonstrated by computational experience on test problems of varying size and density, disclosing a dramatic reduction in the time to obtain optimal and near optimal solutions and an ability to solve much larger problems.     

Auxiliary field loop expansion of the effective action for a class of stochastic partial differential equations

We present an alternative to the perturbative (in coupling constant) diagrammatic approach for studying stochastic dynamics of a class of reaction diffusion systems. Our approach is based on an auxiliary field loop expansion for the path integral representation for the generating functional of the noise induced correlation functions of the fields describing these systems. The systems we consider include Langevin systems describable by the set of self interacting classical fields ?_i(x,t)${?}_i(x,t)$ in the presence of external noise η_i(x,t)${\eta }_i(x,t)$, namely (∂_t−ν∇²)?−F[?]=η$({\partial }_t-\nu {\nabla }^2)?-F\left[?\right]=\eta$, as well as chemical reaction annihilation processes obtained by applying the many-body approach of Doi–Peliti to the Master Equation formulation of these problems. We consider two different effective actions, one based on the Onsager–Machlup (OM) approach, and the other due to Janssen–deGenneris based on the Martin–Siggia–Rose (MSR) response function approach. For the simple models we consider, we determine an analytic expression for the Energy landscape (effective potential) in both formalisms and show how to obtain the more physical effective potential of the Onsager–Machlup approach from the MSR effective potential in leading order in the auxiliary field loop expansion. For the KPZ equation we find that our approximation, which is non-perturbative and obeys broken symmetry Ward identities, does not lead to the appearance of a fluctuation induced symmetry breakdown. This contradicts the results of earlier studies.     

Prior exposure to an attenuated <Emphasis Type="Italic">Listeria</Emphasis> vaccine does not reduce immunogenicity: pre-clinical assessment of the efficacy of a <Emphasis Type="Italic">Listeria</Emphasis>vaccine in the induction of immune responses against HIV

Background  

We have evaluated an attenuated Listeria monocytogenes (Lm) candidate vaccine vector in nonhuman primates using a delivery regimen relying solely on oral vaccination. We sought to determine the impact of prior Lm vector exposure on the development of new immune responses against HIV antigens.     

The Observer in the Quantum Experiment

A goal of most interpretations of quantum mechanics is to avoid the apparent intrusion of the observer into the measurement process. Such intrusion is usually seen to arise because observation somehow selects a single actuality from among the many possibilities represented by the wavefunction. The issue is typically treated in terms of the mathematical formulation of the quantum theory. We attempt to address a different manifestation of the quantum measurement problem in a theory-neutral manner. With a version of the two-slit experiment, we demonstrate that an enigma arises directly from the results of experiments. Assuming that no observable physical phenomena exist beyond those predicted by the theory, we argue that no interpretation of the quantum theory can avoid a measurement problem involving the observer.     

Social systems analysis

We present a model of social systems as special types of games in extensive form in which perception and learned strategies play an important role. We discuss personality, emotions, and the relation of utility to Maslow's hierarchy of values. We also formulate a new class of games, partially cooperative games, and attempt to define a solution concept for these.     

A novel approach to combinatorial library design

We address the problem of designing a general-purpose combinatorial library to screen for pharmaceutical leads. Conventional approaches focus on diversity as the primary factor in designing such libraries. We suggest making screening libraries out of a set of pharmaceutically relevant scaffolds, with multiple analogs per scaffold. The rationale for this rests on the fact that even though the hit-rate in active series is much higher than in the database as a whole, often a large fraction of the compounds in active series are inactive. This is especially true when the series has not been optimized for the target under study. We introduce the concept of hit-rate within a series and use historic screening data to arrive at a crude estimate for it. We then use simple probability arguments to show that 50-100 compounds are required in each series in order to be nearly certain of finding at least one active compound in each true active series for any given target.     

Long-term neprilysin gene transfer is associated with reduced levels of intracellular Abeta and behavioral improvement in APP transgenic mice

Background  

Proteolytic degradation has emerged as a key pathway involved in controlling levels of the Alzheimer's disease (AD)-associated amyloid-β (Aβ) peptide in the brain. The endopeptidase, neprilysin, has been implicated as a major Aβ degrading enzyme in mice and humans. Previous short and intermediate term studies have shown the potential therapeutic application of neprilysin by delivering this enzyme into the brain of APP transgenic mice using gene transfer with viral vectors. However the effects of long-term neprilysin gene transfer on other aspects of Aβ associated pathology have not been explored yet in APP transgenic mice.