How Does China's Household Portfolio Selection Vary with Financial Inclusion?

Portfolio underdiversification is one of the most costly losses accumulated over a household's life cycle. We provide new evidence on the impact of financial inclusion services on households' portfolio choice and investment efficiency using 2015, 2017, and 2019 survey data for Chinese households. We hypothesize that higher financial inclusion penetration encourages households to participate in the financial market, leading to better portfolio diversification and investment efficiency. The results of the baseline model are consistent with our proposed hypothesis that higher accessibility to financial inclusion encourages households to invest in risky assets and increases investment efficiency. We further estimate a dynamic double machine learning model to quantitatively investigate the non-linear causal effects and track the dynamic change of those effects over time. We observe that the marginal effect increases over time, and those effects are more pronounced among low-asset, less-educated households and those located in non-rural areas, except for investment efficiency for high-asset households

Electroweak Phase Transition and Gravitational Waves in the Type-II Seesaw Model

The type-II seesaw model is a possible candidate for simultaneously explaining non-vanishing neutrino masses and the observed baryon asymmetry of the Universe. In this work, we study in detail the pattern of phase transition and the gravitational wave production of this model. We find a strong first-order electroweak phase transition generically prefers positive Higgs portal couplings and a light triplet below $\sim550$ GeV. In addition, we find the gravitational wave yield generated during the phase transition would be at the edge of BBO sensitivity and could be further examined by Ultimate-DECIGO.Comment: v1: 34 pages, 2 tables, 8 figures; v2: update reference

Another reason for the counterintuitive effects of thank-you gifts on charitable giving

Current studies on the effect of thank-you gifts on charitable giving are primarily based on the conclusion of a milestone paper, “The counterintuitive effects of thank-you gifts on charitable giving” which argued that thank-you gifts are mainly driven by lower feelings of altruism. This article argues that the question design in “The counterintuitive effects of thank-you gifts on charitable giving” may lead to a biased conclusion. This article added an extra treatment group to the original study and found that the authors neglected the critical impact of participants’ inference about the usage of the money

[(4S,5S)-2,2-Dimethyl-1,3-dioxolane-4,5-di­yl]bis­[N-(thio­phen-2-yl­methyl­idene)methanamine]

In the title compound, C17H20N2O2S2, the five-membered heterocycle exhibits an envelope conformation and the mol­ecular chirality and configuration are well preserved from l-tartaric acid. The dihedral angle between the two thio­phene rings is 17.0 (2)°. In the crystal, mol­ecules are linked by C—H⋯O and C—H⋯S hydrogen inter­actions, which are effective in the stabilization of the crystal structure

Lifelong Sequential Modeling with Personalized Memorization for User Response Prediction

User response prediction, which models the user preference w.r.t. the presented items, plays a key role in online services. With two-decade rapid development, nowadays the cumulated user behavior sequences on mature Internet service platforms have become extremely long since the user's first registration. Each user not only has intrinsic tastes, but also keeps changing her personal interests during lifetime. Hence, it is challenging to handle such lifelong sequential modeling for each individual user. Existing methodologies for sequential modeling are only capable of dealing with relatively recent user behaviors, which leaves huge space for modeling long-term especially lifelong sequential patterns to facilitate user modeling. Moreover, one user's behavior may be accounted for various previous behaviors within her whole online activity history, i.e., long-term dependency with multi-scale sequential patterns. In order to tackle these challenges, in this paper, we propose a Hierarchical Periodic Memory Network for lifelong sequential modeling with personalized memorization of sequential patterns for each user. The model also adopts a hierarchical and periodical updating mechanism to capture multi-scale sequential patterns of user interests while supporting the evolving user behavior logs. The experimental results over three large-scale real-world datasets have demonstrated the advantages of our proposed model with significant improvement in user response prediction performance against the state-of-the-arts.Comment: SIGIR 2019. Reproducible codes and datasets: https://github.com/alimamarankgroup/HPM

Self-sustainable protonic ceramic electrochemical cells using a triple conducting electrode for hydrogen and power production.

The protonic ceramic electrochemical cell (PCEC) is an emerging and attractive technology that converts energy between power and hydrogen using solid oxide proton conductors at intermediate temperatures. To achieve efficient electrochemical hydrogen and power production with stable operation, highly robust and durable electrodes are urgently desired to facilitate water oxidation and oxygen reduction reactions, which are the critical steps for both electrolysis and fuel cell operation, especially at reduced temperatures. In this study, a triple conducting oxide of PrNi0.5Co0.5O3-δ perovskite is developed as an oxygen electrode, presenting superior electrochemical performance at 400~600 °C. More importantly, the self-sustainable and reversible operation is successfully demonstrated by converting the generated hydrogen in electrolysis mode to electricity without any hydrogen addition. The excellent electrocatalytic activity is attributed to the considerable proton conduction, as confirmed by hydrogen permeation experiment, remarkable hydration behavior and computations

Cerebral hemodynamic characteristics of acute mountain sickness upon acute high-altitude exposure at 3,700 m in young Chinese men.

PURPOSE: We aimed at identifying the cerebral hemodynamic characteristics of acute mountain sickness (AMS). METHODS: Transcranial Doppler (TCD) sonography examinations were performed between 18 and 24 h after arrival at 3,700 m via plane from 500 m (n = 454). A subgroup of 151 subjects received TCD examinations at both altitudes. RESULTS: The velocities of the middle cerebral artery, vertebral artery (VA) and basilar artery (BA) increased while the pulsatility indexes (PIs) and resistance indexes (RIs) decreased significantly (all p < 0.05). Velocities of BA were higher in AMS (AMS+) individuals when compared with non-AMS (AMS-) subjects (systolic velocity: 66 ± 12 vs. 69 ± 15 cm/s, diastolic velocity: 29 ± 7 vs. 31 ± 8 cm/s and mean velocity, 42 ± 9 vs. 44 ± 10 cm/s). AMS was characterized by higher diastolic velocity [V d_VA (26 ± 4 vs. 25 ± 4, p = 0.013)] with lower PI and RI (both p = 0.004) in VA. Furthermore, the asymmetry index (AI) of VAs was significantly lower in the AMS + group [-5.7 % (21.0 %) vs. -2.5 % (17.8 %), p = 0.016]. The AMS score was closely correlated with the hemodynamic parameters of BA and the V d_VA, PI, RI and AI of VA. CONCLUSION: AMS is associated with alterations in cerebral hemodynamics in the posterior circulation rather than the anterior one, and is characterized by higher blood velocity with lower resistance. In addition, the asymmetry of VAs may be involved in AMS