The flexible coefficient multinomial logit (FC-MNL) model of demand for differentiated products

We show FC-MNL is flexible in the sense of Diewert (1974), thus its parameters can be chosen to match a well-defined class of possible own- and cross-price elasticities of demand. In contrast to models such as Probit and Random Coefficient-MNL models, FC-MNL does not require estimation via simulation; it is fully analytic. Under well-defined and testable parameter restrictions, FC-MNL is shown to be an unexplored member of McFadden’s class of Multivariate Extreme Value discrete-choice models. Therefore, FC-MNL is fully consistent with an underlying structural model of heterogeneous, utility-maximizing consumers. We provide a Monte-Carlo study to establish its properties and we illustrate the use by estimating the demand for new automobiles in Italy

A Design of MAC Model Based on the Separation of Duties and Data Coloring: DSDC-MAC

Among the access control methods for database security, there is Mandatory Access Control (MAC) model in which the security level is set to both the subject and the object to enhance the security control. Legacy MAC models have focused only on one thing, either confidentiality or integrity. Thus, it can cause collisions between security policies in supporting confidentiality and integrity simultaneously. In addition, they do not provide a granular security class policy of subjects and objects in terms of subjects\u27 roles or tasks. In this paper, we present the security policy of Bell_LaPadula Model (BLP) model and Biba model as one complemented policy. In addition, Duties Separation and Data Coloring (DSDC)-MAC model applying new data coloring security method is proposed to enable granular access control from the viewpoint of Segregation of Duty (SoD). The case study demonstrated that the proposed modeling work maintains the practicality through the design of Human Resources management System. The proposed model in this study is suitable for organizations like military forces or intelligence agencies where confidential information should be carefully handled. Furthermore, this model is expected to protect systems against malicious insiders and improve the confidentiality and integrity of data

Busting a myth with the Bayes Factor: Effects of letter bigram frequency in visual lexical decision do not reflect reading processes

Psycholinguistic researchers identify linguistic variables and assess if they affect cognitive processes. One such variable is letter bigram frequency, or the frequency with which a given letter pair co-occurs in an orthography. While early studies reported that bigram frequency affects visual lexical decision, subsequent, well-controlled studies not shown this effect. Still, researchers continue to use it as a control variable in psycholinguistic experiments. We propose two reasons for the persistence of this variable: (1) Reporting no significant effect of bigram frequency cannot provide evidence for no effect. (2) Despite empirical work, theoretical implications of bigram frequency are largely neglected. We perform Bayes Factor analyses to address the first issue. In analyses of existing large-scale databases, we find no effect of bigram frequency in lexical decision in the British Lexicon Project, and some evidence for an inhibitory effect in the English Lexicon Project. We find strong evidence for an effect in reading aloud. This suggests that, for lexical decision, the effect is unstable, and may depend on item characteristics and task demands rather than reflecting cognitive processes underlying visual word recognition. We call for more consideration of theoretical implications of the presence or absence of a bigram frequency effect

The transmission of monetary policy shocks

Commonly used instruments for the identification of monetary policy disturbances are likely to combine the true policy shock with information about the state of the economy due to the information disclosed through the policy action. We show that this signalling effect of monetary policy can give rise to the empirical puzzles reported in the literature, and propose a new high-frequency instrument for monetary policy shocks that accounts for informational rigidities. We find that a monetary tightening is unequivocally contractionary, with deterioration of domestic demand, labor and credit market conditions, as well as of asset prices and agents' expectations

Protein binding specificity versus promiscuity

Interactions between macromolecules in general, and between proteins in particular, are essential for any life process. Examples include transfer of information, inhibition or activation of function, molecular recognition as in the immune system, assembly of macromolecular structures and molecular machines, and more. Proteins interact with affinities ranging from millimolar to femtomolar and, because affinity determines the concentration required to obtain 50% binding, the amount of different complexes formed is very much related to local concentrations. Although the concentration of a specific binding partner is usually quite low in the cell (nanomolar to micromolar), the total concentration of other macromolecules is very high, allowing weak and non-specific interactions to play important roles. In this review we address the question of binding specificity, that is, how do some proteins maintain monogamous relations while others are clearly polygamous. We examine recent work that addresses the molecular and structural basis for specificity versus promiscuity. We show through examples how multiple solutions exist to achieve binding via similar interfaces and how protein specificity can be tuned using both positive and negative selection (specificity by demand). Binding of a protein to numerous partners can be promoted through variation in which residues are used for binding, conformational plasticity and/or post-translational modification. Natively unstructured regions represent the extreme case in which structure is obtained only upon binding. Many natively unstructured proteins serve as hubs in protein–protein interaction networks and such promiscuity can be of functional importance in biology.National Institutes of Health (U.S.) (Award GM084181)National Institutes of Health (U.S.) (Award GM067681