Wave-packet treatment of neutrino oscillations and its implications on determining the neutrino mass hierarchy

We derive the neutrino flavor transition probabilities with the neutrino treated as a wave packet. The decoherence and dispersion effects from the wave-packet treatment show up as damping and phase-shifting of the plane-wave neutrino oscillation patterns. If the energy uncertainty in the initial neutrino wave packet is larger than around 0.01 of the neutrino energy, the decoherence and dispersion effects would degrade the sensitivity of reactor neutrino experiments to mass hierarchy measurement to lower than 3 $\sigma$ confidence level

Optimal trading strategy during bull and bear markets for Hong Kong-listed stocks

The “buy-and-hold” strategy based on the EMH was believed by many people to be optimal for a long time. However, there has been more criticism on the EMH since the global financial crisis in 2008. Hence many people attempt to find a trading strategy to beat “buy-and-hold”. Moreover, the financial market fluctuates a lot. Sometimes it is in a bull market, but it may be in a bear market during other periods of time, so the optimal strategy during different periods of time may vary and hence switching of strategies may be necessary. In this study, we apply Hui and Chan (2018)’s generalized time-dependent strategy on 12 Hong Kong listed stocks during the whole period of observation and two sub-periods. The results show that when the sub-period December 31, 2004–December 31, 2008 is chosen, the strategy outperforms “buy-and-hold” by the largest extent. This reflects that the strategy is most effective during adverse market conditions. This study can help investors to apply appropriate trading strategies to earn more profits, and help property practitioners to improve their strategic property management to increase the value of their portfolio

Psychometric properties of the Chinese version of the fatigue scale-adolescent

© 2015 Ho et al. Background: The availability of a valid and reliable instrument that accurately assesses the level of fatigue among adolescent cancer survivors is crucial before any appropriate interventions to reduce their fatigue can be appropriately planned and evaluated. The study aimed to test the psychometric properties of the Chinese version of the Fatigue Scale for Adolescents. In particular, confirmatory factor analysis was conducted to examine its factorial structure. Methods: A cross-sectional study was employed. Adolescents (13- to 18-year-olds) who had survived cancer and attended medical follow-up at the outpatient clinic in Hong Kong were invited to participate. The internal consistency, content validity and construct validity and test-retest reliability of the Chinese version of the Fatigue Scale for Adolescents were assessed. Results: The content validity index was 0.92. There was a strong positive correlation between adolescents' levels of fatigue and depressive symptoms (r=0.53) and a strong negative correlation between adolescents' levels of fatigue and quality of life (r=-0.58). The mean levels of fatigue of the survivors group was significantly lower than that of those still receiving treatment in hospital, but significantly higher than that of their healthy counterparts. Confirmatory factor analysis indicated that there were 4 factors underlying the Chinese version of the Cancer Module. Conclusions: The findings of the study add further evidence that the Chinese version of the Fatigue Scale for Adolescents (12-item) can be used as a reliable and valid tool in assessing cancer-related fatigue among Hong Kong Chinese adolescents who have survived cancer.published_or_final_versio

Simulation Modelling of Inequality in Cancer Service Access

This paper applies economic concepts from measuring income inequality to an exercise in assessing spatial inequality in cancer service access in regional areas. We propose a mathematical model for accessing chemotherapy among local government areas (LGAs). Our model incorporates a distance factor. With a simulation we report results for a single inequality measure: the Lorenz curve is depicted for our illustrative data. We develop this approach in order to move incrementally towards its application to actual data and real-world health service regions. We seek to develop the exercises that can lead policy makers to relevant policy information on the most useful data collections to be collected and modeling for cancer service access in regional areas.Comment: 6 pages, 3 figure

Monitoring and Control of Unstructured Manufacturing Big Data

Unstructured manufacturing big data silos are challenging for enabling various data-driven applications such as digital threads and digital twins in manufacturing. The management of big data silos requires to address the issues of large volume, data inconsistency, data redundancy, information silos and data security. This research developed a systematic approach to managing data silos using the state of art big data software. Applying this approach in the product life cycle can control data silos, data consistency, redundancy, timely update and enable the automatic workflow of each system

Contagion across real estate and equity markets during European sovereign debt crisis

Standard methods of testing contagion may not work well if the data set is not normally distributed. To cope with this problem, Hatemi-J and Hacker (2005) proposed a new case-resampling bootstrap method to test contagion. In this paper, we extend this method to test the parameters in the Forbes-Rigobon multivariate (FRM) test. The new method has the advantage that the bivariate model is extended to a multivariate framework which jointly models and tests all combinations of contagious linkages. We apply our method to investigate contagion across equity and real estate markets of four countries: Greece, U.K., U.S. and Hong Kong, during the European sovereign debt crisis, and compare the result with that by performing the FRM test directly. Two important results are found. Firstly, both tests we use give similar p-values of the coefficients which indicate the significance of contagion. Secondly, for both tests, the contagion pattern in the equity and real estate markets are different. Our study has an implication to investors that they should regularly review their portfolio and be aware of contagion triggered by a crisis. This would help them reduce their loss and is useful in strategic property management

Are the global real estate markets contagious?

The aim of this paper is to investigate the contagion across real estate markets of four countries: Hong Kong, China, U.S. and U.K., during the financial tsunami in 2008. We use the Forbes-Rigobon test, the coskewness test and the cokurtosis test. We propose a new cokurtosis test constructed by extending the method of constructing the coskewness test to further higher order moments. It can show additional channels of contagion that other tests fail to show, and hence can provide more information on the direction of contagion, and reflect a more complete picture of the contagion pattern. The coskewness and cokurtosis tests show that contagion exists between the four countries, and the contagion effect is stronger between Hong Kong and China, and between U.S. and U.K. This provides clues for investors on how to diversify their investment to reduce their risk. This paper bridges the gap that previous works on contagion across real estate markets give mixed results, and gives a first insight into the contagion pattern of global real estate markets during the financial tsunami

New tests of calendar effects on equity and securitized real estate markets

We construct two new tests of calendar effects, apply them on 12 stock indices during 1996–2016, and compare the results with that using Hui and Chan (2016)’s method. The results show that the January and Halloween effects are significant for the four western generalized equity indices for small moving-window sizes. Furthermore, the securitized real estate indices show a greater difference in the overall calendar effect between the three methods than the general equity indices do. This study has an implication that a certain sector of the market is riskier than the whole market