Market frictions in entrepreneurial innovation: Theory and evidence

We propose a model of entrepreneurial innovation that rationalizes its pattern of boom and bust. In the model, a successful entrepreneurial project is the result of a search and matching process between entrepreneurs and capitalists. A strategic complementarity between the entrepreneurs\u2019 demand for funds and the capitalists\u2019 supply arises both on the extensive and on the intensive margin. Using data from the Global Entrepreneurship Monitor, and collecting data on the venture capital market of 23 OECD countries plus China for the period 2007\u20132015, we find robust evidence of complementarity across the two sides of the market. We also provide a quantitative estimate of a multiplier effect originating from such complementarity

An Extensional Mereology for Structured Entities

In this paper, we present an extensional system of mereology suitable to account for the intuitive distinction between heaplike and non-heaplike entities. Since the need to capture this distinction has been a key motivation for non-extensional mereologies, we first assess the main non-extensional systems advanced in the last years and highlight some mereological and metaphysical difficulties they involve. We then advance a novel program, according to which the distinction between heaplike and non-heaplike entities can be accounted for by bringing together the parthood relation characterized by classical extensional mereology and an Aristotelian extensional notion of potential parthood. Thus, while rejecting the thesis of mereological monism, our proposal is consistent with the thesis of mereological extensionalism. We show that within this framework it is possible to characterize the above-mentioned distinction, to define the relation of material constitution, and to capture three fundamental standpoints in metaphysics

Bootstrap confidence intervals for principal covariates regression

Principal covariate regression (PCOVR) is a method for regressing a set of criterion variables with respect to a set of predictor variables when the latter are many in number and/or collinear. This is done by extracting a limited number of components that simultaneously synthesize the predictor variables and predict the criterion ones. So far, no procedure has been offered for estimating statistical uncertainties of the obtained PCOVR parameter estimates. The present paper shows how this goal can be achieved, conditionally on the model specification, by means of the bootstrap approach. Four strategies for estimating bootstrap confidence intervals are derived and their statistical behaviour in terms of coverage is assessed by means of a simulation experiment. Such strategies are distinguished by the use of the varimax and quartimin procedures and by the use of Procrustes rotations of bootstrap solutions towards the sample solution. In general, the four strategies showed appropriate statistical behaviour, with coverage tending to the desired level for increasing sample sizes. The main exception involved strategies based on the quartimin procedure in cases characterized by complex underlying structures of the components. The appropriateness of the statistical behaviour was higher when the proper number of components were extracted

Candecomp/Parafac with zero constraints at arbitrary positions in a loading matrix

When one interprets Candecomp/Parafac (CP) solutions for analyzing three-way data, small loadings are often ignored, that is, considered to be zero. Rather than just considering them zero, it seems better to actually model such values as zero. This can be done by successive modeling approaches as well as by a simultaneous modeling approach. This paper offers algorithms for three such approaches, and compares them on the basis of empirical data and a simulation study. The conclusion of the latter was that, under realistic circumstances, all approaches recovered the underlying structure well, when the number of values to constrain to zero was given. Whereas the simultaneous modeling approach seemed to perform slightly better, differences were very small and not substantial. Given that the simultaneous approach is far more time consuming than the successive approaches, the present study suggests that for practical purposes successive approaches for modeling zeros in the CP model seem to be indicated

Scheduling activities in project network with feeding precedence relations: an earliest start forward recursion algorithm

In some production processes, the effort associated with a certain activity for its execution can vary over time. In this case, the amount of work per time unit devoted to each activity, so as its duration, is not univocally determined. This kind of problem can be represented by an activity project network with the so-called feeding precedence relations, and activity variable execution intensity. In this paper, we propose a forward recursion algorithm able to find the earliest start and finish times of each activity, in O(m log n) time, with n and m being the number of activities and the number of precedence relations, respectively. In particular, this requires the calculation of the (optimal) execution intensity profile, for each activity, that warrants the earliest start schedule and the minimum completion time of the project

In vitro and in vivo biocompatibility of boron/nitrogen co-doped carbon nano-onions

Boron/nitrogen, co-doped, carbon nano-onions (BN-CNOs) have recently shown great promise as catalysts for the oxygen reduction reaction, due to the improved electronic properties imparted by the dopant atoms; however, the interactions of BN-CNOs with biological systems have not yet been explored. In this study, we examined the toxicological profiles of BN-CNOs and oxidized BN-CNOs (oxi-BN-CNOs) in vitro in both healthy and cancer cell lines, as well as on the embryonic stages of zebrafish (Danio rerio) in vivo. The cell viabilities of both cell lines cells were not affected after treatment with different concentrations of both doped CNO derivatives. On the other hand, the analysis of BN-CNOs and oxidized BN-CNO interactions with zebrafish embryos did not report any kind of perturbations, in agreement with the in vitro results. Our results show that both doped CNO derivatives possess a high biocompatibility and biosafety in cells and more complex systems. © 2021 by the authors. Licensee MDPI, Basel, Switzerland

Specific LTR-Retrotransposons Show Copy Number Variations between Wild and Cultivated Sunflowers

The relationship between variation of the repetitive component of the genome and domestication in plant species is not fully understood. In previous work, variations in the abundance and proximity to genes of long terminal repeats (LTR)-retrotransposons of sunflower (Helianthus annuus L.) were investigated by Illumina DNA sequencingtocompare cultivars and wild accessions. In this study, we annotated and characterized 22 specific retrotransposon families whose abundance varies between domesticated and wild genotypes. These families mostly belonged to the Chromovirus lineage of the Gypsy superfamily and were distributed overall chromosomes. They were also analyzed in respect to their proximity to genes. Genes close to retrotransposon were classified according to biochemical pathways, and differences between domesticated and wild genotypes are shown. These data suggest that structural variations related to retrotransposons might have occurred to produce phenotypic variation between wild and domesticated genotypes, possibly by affecting the expression of genes that lie close to inserted or deleted retrotransposons and belong to specific biochemical pathways as those involved in plant stress responses

In defense of Aristotelian universals

To be an Aristotelian about universals is to hold that universals depend for their existence on their exemplifiers. An argument against Aristotelianism about universals has recently been put forward by Costa to the effect that a contradiction follows from assuming a certain formulation of Aristotelianism together with some highly plausible principles governing the notions employed in that formulation. In this paper, we provide different ways of articulating the Aristotelian position which, while being related with some of the main contributions in the current Aristotelian tradition, do not fall prey to the argument

Blood Pressure and Cognitive Decline Over 8 Years in Middle-Aged and Older Black and White Americans

Although the association between high blood pressure (BP), particularly in midlife, and late-life dementia is known, less is known about variations by race and sex. In a prospective national study of 22 164 blacks and whites ≥45 years without baseline cognitive impairment or stroke from the REGARDS cohort study (Reasons for Geographic and Racial Differences in Stroke), enrolled 2003 to 2007 and followed through September 2015, we measured changes in cognition associated with baseline systolic and diastolic BP (SBP and DBP), as well as pulse pressure (PP) and mean arterial pressure, and we tested whether age, race, and sex modified the effects. Outcomes were global cognition (Six-Item Screener; primary outcome), new learning (Word List Learning), verbal memory (Word List Delayed Recall), and executive function (Animal Fluency Test). Median follow-up was 8.1 years. Significantly faster declines in global cognition were associated with higher SBP, lower DBP, and higher PP with increasing age ( P<0.001 for age×SBP×follow-up-time, age×DBP×follow-up-time, and age×PP×follow-up-time interaction). Declines in global cognition were not associated with mean arterial pressure after adjusting for PP. Blacks, compared with whites, had faster declines in global cognition associated with SBP ( P=0.02) and mean arterial pressure ( P=0.04). Men, compared with women, had faster declines in new learning associated with SBP ( P=0.04). BP was not associated with decline of verbal memory and executive function, after controlling for the effect of age on cognitive trajectories. Significantly faster declines in global cognition over 8 years were associated with higher SBP, lower DBP, and higher PP with increasing age. SBP-related cognitive declines were greater in blacks and men