Novel and topical business news and their impact on stock market activities

We propose an indicator to measure the degree to which a particular news article is novel, as well as an indicator to measure the degree to which a particular news item attracts attention from investors. The novelty measure is obtained by comparing the extent to which a particular news article is similar to earlier news articles, and an article is regarded as novel if there was no similar article before it. On the other hand, we say a news item receives a lot of attention and thus is highly topical if it is simultaneously reported by many news agencies and read by many investors who receive news from those agencies. The topicality measure for a news item is obtained by counting the number of news articles whose content is similar to an original news article but which are delivered by other news agencies. To check the performance of the indicators, we empirically examine how these indicators are correlated with intraday financial market indicators such as the number of transactions and price volatility. Specifically, we use a dataset consisting of over 90 million business news articles reported in English and a dataset consisting of minute-by-minute stock prices on the New York Stock Exchange and the NASDAQ Stock Market from 2003 to 2014, and show that stock prices and transaction volumes exhibited a significant response to a news article when it is novel and topical.Comment: 8 pages, 6 figures, 2 table

An Empirical Study and Analysis of Generalized Zero-Shot Learning for Object Recognition in the Wild

Zero-shot learning (ZSL) methods have been studied in the unrealistic setting where test data are assumed to come from unseen classes only. In this paper, we advocate studying the problem of generalized zero-shot learning (GZSL) where the test data's class memberships are unconstrained. We show empirically that naively using the classifiers constructed by ZSL approaches does not perform well in the generalized setting. Motivated by this, we propose a simple but effective calibration method that can be used to balance two conflicting forces: recognizing data from seen classes versus those from unseen ones. We develop a performance metric to characterize such a trade-off and examine the utility of this metric in evaluating various ZSL approaches. Our analysis further shows that there is a large gap between the performance of existing approaches and an upper bound established via idealized semantic embeddings, suggesting that improving class semantic embeddings is vital to GZSL.Comment: ECCV2016 camera-read

Sustainability, transport and design: reviewing the prospects for safely encouraging eco-driving

Private vehicle use contributes a disproportionately large amount to the degradation of the environment we inhabit. Technological advancement is of course critical to the mitigation of climate change, however alone it will not suffice; we must also see behavioural change. This paper will argue for the application of Ergonomics to the design of private vehicles, particularly low-carbon vehicles (e.g. hybrid and electric), to encourage this behavioural change. A brief review of literature is offered concerning the effect of the design of a technological object on behaviour, the inter-related nature of goals and feedback in guiding performance, the effect on fuel economy of different driving styles, and the various challenges brought by hybrid and electric vehicles, including range anxiety, workload and distraction, complexity, and novelty. This is followed by a discussion on the potential applicability of a particular design framework, namely Ecological Interface Design, to the design of in-vehicle interfaces that encourage energy-conserving driving behaviours whilst minimising distraction and workload, thus ensuring safety

Evolution of Swarm Robotics Systems with Novelty Search

Novelty search is a recent artificial evolution technique that challenges traditional evolutionary approaches. In novelty search, solutions are rewarded based on their novelty, rather than their quality with respect to a predefined objective. The lack of a predefined objective precludes premature convergence caused by a deceptive fitness function. In this paper, we apply novelty search combined with NEAT to the evolution of neural controllers for homogeneous swarms of robots. Our empirical study is conducted in simulation, and we use a common swarm robotics task - aggregation, and a more challenging task - sharing of an energy recharging station. Our results show that novelty search is unaffected by deception, is notably effective in bootstrapping the evolution, can find solutions with lower complexity than fitness-based evolution, and can find a broad diversity of solutions for the same task. Even in non-deceptive setups, novelty search achieves solution qualities similar to those obtained in traditional fitness-based evolution. Our study also encompasses variants of novelty search that work in concert with fitness-based evolution to combine the exploratory character of novelty search with the exploitatory character of objective-based evolution. We show that these variants can further improve the performance of novelty search. Overall, our study shows that novelty search is a promising alternative for the evolution of controllers for robotic swarms.Comment: To appear in Swarm Intelligence (2013), ANTS Special Issue. The final publication will be available at link.springer.co

Creative methodologies for understanding a creative industry

The chapter presents a conceptual framework for the identification and analysis of value creating and value capture systems within creative industry contexts based on theoretical and empirical studies. It provides a ‘digital economy’ perspective of the creative industries as a micro-level example of a wider analytical problem, which is how society changes itself. The increasing level of innovation and creativity produces greater levels of instability in social structures (habits, norms etc.) Completely new industries can arise (and ‘creatively’ destroy old ones) as new stabilised patterns form, particularly where entry costs are tumbling, such as digital milieu. Observations of workshops over several days with creative groups, interviews with creative enterprises, literature reviews on creative industries, business models and value systems have informed the analysis and conceptualisation. As a result we present a conceptual framework that we suggest can capture how novelty arises as emergent order over time. We have extended previous work that investigates the significance of emergence in theorising entrepreneurship into an exploration of how to articulate the creation and flow of value and effective ontology in a creative landscape. In the digital economy, the creative industries revolve around dynamic, innovative and often unorthodox collaborations, whereby numerous large, small and micro-businesses come together for the duration of a project, then disband and form new partnerships for the next project. Research designs must therefore address multiple contexts and levels presenting an analytical challenge to researchers. Methodologically, we suggest that the framework has analytical potential to support the collection of data: ordering and categorising empirical observations concerning how different phenomena emerge over time across multiple levels of analysis and contexts. Conceptually, the work broadens the notions of ‘business model’ to consider value creating systems and particular states reached by those systems in their evolution. The work contributes new concepts for researchers in this field and a wider framework for practitioners and policy makers

Artificial and Natural Genetic Information Processing

Conventional methods of genetic engineering and more recent genome editing techniques focus on identifying genetic target sequences for manipulation. This is a result of historical concept of the gene which was also the main assumption of the ENCODE project designed to identify all functional elements in the human genome sequence. However, the theoretical core concept changed dramatically. The old concept of genetic sequences which can be assembled and manipulated like molecular bricks has problems in explaining the natural genome-editing competences of viruses and RNA consortia that are able to insert or delete, combine and recombine genetic sequences more precisely than random-like into cellular host organisms according to adaptational needs or even generate sequences de novo. Increasing knowledge about natural genome editing questions the traditional narrative of mutations (error replications) as essential for generating genetic diversity and genetic content arrangements in biological systems. This may have far-reaching consequences for our understanding of artificial genome editing