Mathematical analysis of investment systems

Investment systems are studied using a framework that emphasize their profiles (the cumulative probability distribution on all the possible percentage gains of trades) and their log return functions (the expected average return per trade in logarithmic scale as a function of the investment size in terms of the percentage of the available capital). The efficiency index for an investment system, defined as the maximum of the log return function, is proposed as a measure to compare investment systems for their intrinsic merit. This efficiency index can be viewed as a generalization of Shannon's information rate for a communication channel. Applications are illustrated.     

Estimating market shares in each market segment using the information entropy concept

Sales data of a certain product for the various competitors are usually available at the aggregate level. However these data give no clue to the heterogeneities in the sales pattern across different market segments. Heterogeneities are caused by different purchasing behavior in each market segment; as a purchaser in a segment will be attracted to the attributes of the product most important to that segment. This concept can be formalized via a simple attraction model that utilizes an elasticity measure for each quality or price attribute [G.S. Carpenter, L.G. Cooper, D.M. Hanssens, D.F. Midgley, Modeling asymmetric competition, Marketing Science 7 (4) (1998) 393–412]. Assessment of these elasticities is not difficult since customer response – in each market segment – to perception of quality and price is tracked by most firms [J. Ross, D. Georgoff, A survey of productive and quality issues in manufacturing. The state of the industry, Industrial Management 3 (5) (1991) 22–25]. This paper attempts to formulate a generic framework based on the information entropy concept that utilizes such an attraction model to estimate competitors’ sales in each market segment.     

On the role of heterogeneous and imperfect information in a laboratory financial market

In this paper, we analyze the behavior of a group of heterogeneously informed investors in an laboratory asset market. Our experimental setting is inspired by Huber et al. (On the benefit of information in markets with heterogeneously informed traders: an experimental study, 2004). However, instead of their system of cumulative and exogenously given information structure, we introduce an information market where the traders can buy an imperfect prediction of the future value of the dividend with a maximum anticipation of four periods. The accuracy of the prediction decreases with the chosen time horizon, whereas its price remains constant. Our results confirm a non-strictly monotonic increasing value of the information.     

Optimal production and rationing decisions in supply chains with information sharing

This paper considers a two-echelon capacitated supply chain with two non-identical retailers and information sharing. We characterize the optimal inventory policies. We also study the benefits of the optimal stock rationing policy over the first come first served (FCFS) and the modified echelon-stock rationing (MESR) policies.     

Analytic Independence of an Ideal Relative to Certain Injective Module Over a Commutative Noetherian Ring

In this paper we will introduce the concepts of analytic independence and analytic spread for ideals relative to certain injective module over a commutative Noetherian ring.     

Transversal-Free Translation Nets

Translation planes of order q ² containing non-Desarguesian Baer subplanes are used to construct transversal-free translation nets with very small deficiencies. Also, a generalization of the ideas of Bruen shows that any non-Desarguesian spread in PG(3, q) produces a transversal-free net of small deficiency.     

Information and asymptotic efficiency of the case-cohort sampling design in Cox's regression model

Efficiencies of the maximum pseudolikelihood estimator and a number of related estimators for the case-cohort sampling design in the proportional hazards regression model are studied. The asymptotic information and lower bound for estimating the parametric regression parameter are calculated based on the effective score, which is obtained by determining the component of the parametric score orthogonal to the space generated by the infinite-dimensional nuisance parameter. The asymptotic distributions of the maximum pseudolikelihood and related estimators in an i.i.d. setting show that these estimators do not achieve the computed asymptotic lower bound. Simple guidelines are provided to determine in which instances such estimators are close enough to efficient for practical purposes.     

Positive value of information in games

We exhibit a general class of interactive decision situations in which all the agents benefit from more information. This class includes as a special case the classical comparison of statistical experiments à la Blackwell. AMS 2000 Subject Classification:Primary 91A35.The work of Bruno Bassan and Marco Scarsini was partially supported by MIUR-COFIN. The authors express their thanks to Sylvain Sorin for enlightening comments.     

Controllable and flexible cellular network for virus cell-to-cell spread

Cellular networks were constructed based on PEG modification and soft lithography, in which cell numbers and spatial distributions can be controlled. A micro-injector was combined with cellular networks to fix virus induced plaque and virus spread direction, by which virus cell-to-cell spread can be distinguished from cell-free spread.     

The impact of LIMS design and functionality on laboratory quality achievements

 A laboratory information management system (LIMS) can make a major contribution to the quality and therefore to the efficiency and competitiveness of a laboratory. Since it can impact all aspects of a laboratory's organization it must be the key if not the principal player of the laboratory's quality system. It should support the laboratory in establishing, maintaining and applying quality procedures thereby enabling the laboratory to achieve its quality goals. As a tool, LIMS permits the laboratory to input and use its own know-how and experience to optimize the total organization (internal and external) and workflow of generated information. However, perceived "quality" in the context of an LIMS, can be viewed as being made up of different facets such as the security, reliability and accessibility of information as well as its turn around time and production cost. This paper reviews the role of a LIMS in the laboratory and the contribution that both system design and functionality can have on "building quality ". Received: 5 October 1998 · Accepted: 20 October 1998