League-Table Incentives and Price Bubbles in Experimental Asset Markets

We study experimental markets in which participants face incentives modeled upon those prevailing in markets for managed funds. Each participant's portfolio is periodically evaluated at market value and ranked in a league table according to short-term paper returns. Those who rank highly attract a larger share of new fund inflows. Under conditions in which prices are close to intrinsic value, the effect of incentives is mild. However under conditions in which markets are prone to bubble, mispricing is greatly exacerbated by incentives. Even in experienced markets, prices climb to levels clearly indicative of speculation and do not always crash back.league tables, price bubbles, managed funds markets, tournament incentives, asset market experiments

Identification of an octanucleotide motif sequence essential for viral protein, DNA, and progeny virus biosynthesis at the origin of DNA replication of porcine circovirus type 2

AbstractA plasmid-based transfection system capable of generating infectious porcine circovirus type 2 (PCV2) was established. This system was then used in mutagenesis studies to investigate the involvement of a “conserved” nonanucleotide (which constitutes a portion of the loop sequence) located at the origin of DNA replication of PCV2 with respect to viral protein synthesis, DNA self-replication, and progeny virus production. The results demonstrated that an octanucleotide (AGTATTAC) embedded in the loop sequence is essential for virus replication. This octanucleotide can be further condensed to an essential core element (ECE) represented by AxTAxTAC. The positions specified by the indicated nucleotides are critical for viral DNA replication and stable infectious virus production, and they cannot be substituted by other bases, while the positions indicated by x can accept variable bases and yield stable progeny viruses

Regeneration of the replication-associated proteins tandem direct repeat recognition nucleotide sequence at the origin of DNA replication of porcine circovirus type 1

AbstractFour copies of a hexanucleotide (H) sequence are located to the right of the palindrome at the origin of DNA replication of the porcine circovirus type 1 (PCV1) genome. These sequences are organized in two direct tandems, the proximal H1/H2 and the distal H3/H4 repeats, and they have been shown to be binding sites for the essential Rep and Rep′ proteins. Previous work demonstrated that infectious PCV1 virion can accommodate a variable number of H sequences at the origin of DNA replication. In this work, mutational analysis was conducted to elucidate the critical core element within the hexanucleotide with respect to self-DNA replication and progeny virus synthesis. It was found that while a single H sequence abutting the palindrome is sufficient for PCV1 viability, a tandem repeat arrangement is the more stable and thus preferred configuration. Within the H sequence, selected nucleotides at specific positions are critical for Rep-associated protein recognition and for viral DNA replication

A Study of Online Hotel Reservations on Asia Pacific-Based, European-Based, and North American-Based Travel Websites

This paper reports a study that examined hotel reservation services on travel websites. Using a systematic search, 90 travel websites were selected with an equal number of North American-based, European-based, and Asia Pacfic-based websites. These regions represent the areas of the world with the most Internet users. Based on the developed framework of information quality, the contents of the selected travel websites were evaluated. Be empirical results indicated that the travel websites achieved different levels of quality in online information, and that North American-based websites performed significantly better in some attributes

Are the Health of the Nation's targets attainable? Postal survey of general practitioners' views

The Health of the Nation's targets were introduced by the government in 1992 as part of a strategic approach to health.1 We aimed, in 1996, to elicit the views of general practitioners on the attainability of these targets

Duplication and relocation of the functional DPY19L2 gene within low copy repeats

BACKGROUND: Low copy repeats (LCRs) are thought to play an important role in recent gene evolution, especially when they facilitate gene duplications. Duplicate genes are fundamental to adaptive evolution, providing substrates for the development of new or shared gene functions. Moreover, silencing of duplicate genes can have an indirect effect on adaptive evolution by causing genomic relocation of functional genes. These changes are theorized to have been a major factor in speciation. RESULTS: Here we present a novel example showing functional gene relocation within a LCR. We characterize the genomic structure and gene content of eight related LCRs on human Chromosomes 7 and 12. Two members of a novel transmembrane gene family, DPY19L, were identified in these regions, along with six transcribed pseudogenes. One of these genes, DPY19L2, is found on Chromosome 12 and is not syntenic with its mouse orthologue. Instead, the human locus syntenic to mouse Dpy19l2 contains a pseudogene, DPY19L2P1. This indicates that the ancestral copy of this gene has been silenced, while the descendant copy has remained active. Thus, the functional copy of this gene has been relocated to a new genomic locus. We then describe the expansion and evolution of the DPY19L gene family from a single gene found in invertebrate animals. Ancient duplications have led to multiple homologues in different lineages, with three in fish, frogs and birds and four in mammals. CONCLUSION: Our results show that the DPY19L family has expanded throughout the vertebrate lineage and has undergone recent primate-specific evolution within LCRs

Automatic partitioning of database applications

Database-backed applications are nearly ubiquitous in our daily lives. Applications that make many small accesses to the database create two challenges for developers: increased latency and wasted resources from numerous network round trips. A well-known technique to improve transactional database application performance is to convert part of the application into stored procedures that are executed on the database server. Unfortunately, this conversion is often difficult. In this paper we describe Pyxis, a system that takes database-backed applications and automatically partitions their code into two pieces, one of which is executed on the application server and the other on the database server. Pyxis profiles the application and server loads, statically analyzes the code's dependencies, and produces a partitioning that minimizes the number of control transfers as well as the amount of data sent during each transfer. Our experiments using TPC-C and TPC-W show that Pyxis is able to generate partitions with up to 3x reduction in latency and 1.7x improvement in throughput when compared to a traditional non-partitioned implementation and has comparable performance to that of a custom stored procedure implementation.National Science Foundation (U.S.). Graduate Research Fellowshi