A multiscale view on inverse statistics and gain/loss asymmetry in financial time series

Researchers have studied the first passage time of financial time series and observed that the smallest time interval needed for a stock index to move a given distance is typically shorter for negative than for positive price movements. The same is not observed for the index constituents, the individual stocks. We use the discrete wavelet transform to illustrate that this is a long rather than short time scale phenomenon -- if enough low frequency content of the price process is removed, the asymmetry disappears. We also propose a new model, which explain the asymmetry by prolonged, correlated down movements of individual stocks

The Owlet Moths of Ohio, Order Lepidoptera Family Noctuidae, by Roy W. Rings, Eric Metzler, Fred J. Arnold, and David H. Harris. 1992. Published by College of Biological Sciences, The Ohio State University, in Cooperation with Ohio Department of Natural Resources, Division of Wildlife and the Ohio Lepidopterists, Columbus, Ohio 43210. VI + 219 pp., 9 text figures, 8 color plates, 8 black and white plates. Soft cover, 8.5 x 11 in.(21.6 x 27.9 cm), ISSN 0078-3994, $20.00 U.S.

(excerpt) The authors are to be commended for producing an extremely useful and thoroughly complete compilation of this fascinating but frequently ignored group of Lepidoptera. Itis, without a doubt, the finest state systematic check- list that this reviewer has previously read and one that will probably not be exceeded in the near future. This monograph, a systematic checklist of the owlet moths (Noctuidae) of Ohio, is the second monograph to present the lepidopterological results of a cooperative effort among the Ohio Biological Survey, the Ohio Lepidopterists, and the Ohio Department of Natural His- tory. It follows a very comprehensive survey of the state\u27s butterfly fauna, Butterflies and Skippers of Ohio , by David C. Iftner, John A. Shuey, and John V. Calhoun

Tau-lepton Physics at the FCC-ee circular e+^+e−^- Collider

The future FCC-ee collider is designed to deliver $\mathrm{e^+e^-}$ collisions to study with ultimate precision the Z, W, and Higgs bosons, and the top quark. In a high-statistics scan around the Z pole, $1.3\times 10^{11}$ events $\mathrm{Z}\to\tau\tau$ will be produced, the largest sample of $\tau\tau$ events foreseen at any lepton collider. With their large boost, $\tau$ leptons from Z decays are particularly well suited for precision measurements. The focus of this report is on tests of lepton universality from precision measurement of $\boldsymbol{\tau}$ properties and on tests of charged lepton flavour violation in Z decays and in $\tau$ decays. In both of these areas, FCC-ee promises sensitivities well beyond present experimental limits.Comment: 15 pages, 5 figures, 5 tables. Proceedings for the 15th International Workshop in Tau Lepton Physics. Update: fix referenc

Meat quality of hull calves fed only grass or only herbs for 8 weeks prior to slaughter matches that of concentrate-fed bull calves

The organic rules require that bull calves are raised outdoor at least 6 months a year in Denmark and are fed at least 60% roughage of the total diet. These rules are a constraint for an organic production of beef based on the bull calves born in the organic dairy herds because of extra labor costs, expected lower growth rate, difficulties in raising bull calves outdoor, possibly lower meat quality and lack of sufficiently high organic premium payment for the carcass. Thus, the bull calves are sold for conventional fattening. The supply of organic beef from young cattle is concomitantly very limited. However, in order to obtain the necessary higher payment for beef from organic-raised young cattle, it is important that consumers like the beef from grass- and herb-fed young cattle

Properties of Distributed Time Arc Petri Nets

In recent work we started a research on a distributed-timed extension of Petri nets where time parameters are associated with tokens and arcs carry constraints that qualify the age of tokens required for enabling. This formalism enables to model e.g. hardware architectures like GALS. We give a formal definition of process semantics for our model and investigate several properties of local versus global timing: expressiveness, reachability and coverability

Temporal structure and gain/loss asymmetry for real and artificial stock indices

We demonstrate that the gain/loss asymmetry observed for stock indices vanishes if the temporal dependence structure is destroyed by scrambling the time series. We also show that an artificial index constructed by a simple average of a number of individual stocks display gain/loss asymmetry - this allows us to explicitly analyze the dependence between the index constituents. We consider mutual information and correlation based measures and show that the stock returns indeed have a higher degree of dependence in times of market downturns than upturns

Level Crossing Analysis of the Stock Markets

We investigate the average frequency of positive slope $\nu_{\alpha}^{+}$, crossing for the returns of market prices. The method is based on stochastic processes which no scaling feature is explicitly required. Using this method we define new quantity to quantify stage of development and activity of stocks exchange. We compare the Tehran and western stock markets and show that some stocks such as Tehran (TEPIX) and New Zealand (NZX) stocks exchange are emerge, and also TEPIX is a non-active market and financially motivated to absorb capital.Comment: 6 pages and 4 figure

Genetic potential for grain yield in spring barley varieties and variety mixtures in variable organic environments

For organic crop production, well-characterised varieties increase the possibilities for controlling diseases and weeds and compensating for deficits in nutrients. Variation in grain yield was studied in about 150 spring barley varieties and variety mixtures and 20 combinations of location, growing system and year. Choice of variety was found to be as important a factor for grain yield as other factors in the management. Some variety mixtures out yielded even the best variety in the mixture, when this was grown in pure stand. Finally, a concept for organic variety testing of spring barley was developed. This Danish project is part of a European COST Network on sustainable low-input cereal production (SUSVAR) which coordinates studies in different countries on variety mixtures, composite crosses and variety testing

Hawkmoths (Lepidoptera: Sphingidae) Collected in Grand Traverse and Adjacent Counties, Michigan

Thirty-two (32) species of hawkmoths (Sphingidae) are reported from Grand Traverse and adjacent counties, Michigan, based on collecting carried out in 1979-1997 and an inventory of museum records