Fair value in the professional valuation: concept and models

The Paper is on the subject of value measurement bases in Professional Valuation and, as such, also has a direct relevance for the field of Accounting Measurements. In this paper we, specifically, consider semantic and methodological features of Equitable/Fair value as a sui generis basis of valuation in the Professional valuation. As used in the field of Professional Valuation, Equitable/Fair value is the logically necessary basis for estimating values-in-exchange for illiquid assets traded on the markets where the operations of “the law of one price” are very weak. Its logical relevance is demonstrated with the aid of a tool based on Venn-diagrammatic approach (VDA). This VDA is also helpful in explaining in detail interrelationships between other valuation bases used in Professional Valuation. In particular, the article analyzes fair value estimating formulas based on the V. Galasyuk's approach and the Transactional Asset Pricing Approach. At the same time, the unavoidable economic and ethical nature of Fair value as used in Professional Valuation is emphasized, which becomes even more pronounced with the renaming of this valuation basis from Fair to Equitable Value in the International Valuation Standards (IVS) 2017 edition. The contribution of the Paper is in analyzing the main aspects of Fair value estimation theories that exist today in terms of where they fall in the normativist/positivist continuum of economic analysis and drawing into relief their distinguishing elements, while the proposed VDA tool can also find an application as a helpful tool for valuation and accounting measurements analyses. It is also hoped that the debates on Equitable/Fair value as they evolved in the field of Professional Valuation and the ensuing respective proposals in this Paper will help provide a new perspective enriching wider debates on Fair Value in the Accounting Measurements world

Dissociation of relativistic 10^{10}C nuclei in nuclear track emulsion

Dissociation of 1.2 A GeV $^{10}$C nuclei in nuclear track emulsionis is studied. It is shown that most precise angular measurements provided by this technique play a crucial role in the restoration of the excitation spectrum of the 2$\alpha$+2p system. Strong contribution of the cascade process $^{10}$C$\rightarrow ^9$B$\rightarrow ^8$Be identified.Comment: 5 pages, 3 figures, conference: The 21st European Conference on Few-Body Problems in Physics, Salamanca, Spain, 29th August - 3rd September, 201

Protective inhibition and workability during extreme human activity

This review summarizes information on the protective inhibition of human behavior in extreme conditions. It has been shown that cortical cells have a limit of working capacity, upon reaching which protective inhibition develops, which protects the body from excessive exhaustion. The basis of the protective inhibition is the activity of corticospinal neuronal mechanisms. Emotional arousal affects the speed of development of the protective inhibition. The neural networks of the cortex, subcortical formations (basal nuclei, limbic system), and the structures of the brain stem are the anatomical substrate for the formation of transcendental states. One of the neuromodulators providing the transcendental mental states is dopamine. Cortexin and Mildronate increase brain efficiency in extreme conditions. Stimulation of the central nervous system reduces central fatigue and, consequently, increases working capacity. Hypoxia of the brain, on the contrary, reduces the effectiveness of physical exercises in extreme activities. In the disadaptive state, the inhibitory processes prevail in the central nervous system and the fatigue and the protective inhibition occur more quickly

Age-dependent disregulation of the immune response in humans

The review article analyzes literature data on the issues of immune response dysregulation during aging. It has been shown that impairment of innate and adaptive immune response in elderly and senile people under the conditions of spreading the new coronavirus infection is an aggravating factor in the course of the disease and recovery. Neuro-immuno-endocrine changes occurring in the organs of immune system, immunocompetent cells, molecules and receptor formations involved into the arising immune response have been traced. The imbalance of the brain-intestine-microbiota axis is considered in sufficient details, where a significant role is attributed to the changes occurring in hypothalamic-adrenal system under participation of biogenic neurotransmitters and neuromodulators. It is shown that intestinal microbiota may be involved into the neurodegeneration events, due to toxic effects on the brain via the neuro-immuno-endocrine and metabolic pathways. The data are presented, which show that adrenaline, norepinephrine, dopamine and serotonin are involved in the immune response dysregulation, thus making this process similar to the changes that occur during the general adaptation syndrome and stress response of the body. On the other hand, the review notes that chronic stress during aging not only alters the activity of macrophages, lymphocytes and dendritic cells, but also increases the level of proinflammatory cytokines in blood, thereby affecting permeability of the blood-brain barrier. The article emphasizes that with body aging, a neuroendocrine sensory pathway of immune response dysregulation is gradually formed. In this regard, it is noted that the afferent nerve endings and neurons of the vagus, adrenergic and peptidergic nerves are involved into dysfunction of immune system by affecting the processes occurring not only in thymus, but also in the brain. However, it is obvious that the pathodynamic “dysadapting circuit” formed in the higher compartments of nervous system is also involved in dysregulatory immune responses during aging. Hence, the work concludes that the signaling networks of the body's regulatory systems (nervous, immune and endocrine) are closely interconnected throughout the lifetime, but with aging and penetration of antigens into the body, this interaction is easily disrupted at different levels of organization of living matter, thus leading to dysregulation