Modular Properties of 3D Higher Spin Theory

In the three-dimensional sl(N) Chern-Simons higher-spin theory, we prove that the conical surplus and the black hole solution are related by the S-transformation of the modulus of the boundary torus. Then applying the modular group on a given conical surplus solution, we generate a 'SL(2,Z)' family of smooth constant solutions. We then show how these solutions are mapped into one another by coordinate transformations that act non-trivially on the homology of the boundary torus. After deriving a thermodynamics that applies to all the solutions in the 'SL(2,Z)' family, we compute their entropies and free energies, and determine how the latter transform under the modular transformations. Summing over all the modular images of the conical surplus, we write down a (tree-level) modular invariant partition function.Comment: 51 pages; v2: minor corrections and additions; v3: final version, to appear in JHE

Note on Soft Graviton theorem by KLT Relation

Recently, new soft graviton theorem proposed by Cachazo and Strominger has inspired a lot of works. In this note, we use the KLT-formula to investigate the theorem. We have shown how the soft behavior of color ordered Yang-Mills amplitudes can be combined with KLT relation to give the soft behavior of gravity amplitudes. As a byproduct, we find two nontrivial identities of the KLT momentum kernel must hold.Comment: 25 page

Housing and stock market nexus in the US

Purpose: The research aims to study the causality between the US stock and housing markets in the period from 1890 to 2014. Design/Methodology/Approach: The Granger-Causality bootstrap rolling-window test is used for studying the causality between the stock as well as real estate markets in the US. Findings: The results provide robust evidence that the causality running from the housing in the stock markets has positive effects between 1918 and 1922, 1926 and 1931, 1953 and 1955 but negative effects between 1932 and 1934 and from 1971 to 1972, displaying the occurrence of a credit-price effect. In contrast, the S&P 500 stomped the housing market between 1965 and 1970, when the wealth effect dominated in the US economy. Specifically, when the negative causality of both markets happens, investors gain by allocating housing and stocks assets as various portfolios. Practical Implications: This finding specifies that housing markets may be employed to predict stock markets and vice versa in the US. Studying both markets’ causality offers policymakers and practitioners more situation on where the market may be going and how it works over time. Originality/Value: Original research.peer-reviewe

Empirical Study of Online Auction Seller Switching: The Case of Yahoo vs. Ruten in Taiwan

Most online auction platform providers (OAPPs) agree that the majority of their profits comes from users, i.e., their buyers and sellers. The major concern of OAPPs is how to gain and lock in users in order to maintain and enhance a competitive edge. Customer switching is one of the primary problems of all companies, including OAPPs. This study focused on online auction sellers and attempted to understand their switching behavior. We developed an integrated model that consisted of OAPP strategies (anti-switching and anti-lock-in), value-based factors (platform qualities and switching costs), lock-in factors (network effects), and perceived values to explore the switching intentions of online auction sellers. The model was tested using a field study of 248 sellers from two online auction websites. The results show that OAPP strategies will affect switching costs which affect perceived value which, in turn, impacts a seller’s switching behavior. Our findings indicate that value-based factors directly influence perceived value which could suitably explain a seller’s decision to switch from one OAPP to another. The study suggests that OAPPs should develop strategies and leverage the network effect to avoid customer switching

Antimicrobial susceptibility and clinical outcomes of Candida parapsilosis bloodstream infections in a tertiary teaching hospital in Northern Taiwan

BackgroundCandida parapsilosis is an emerging non-albicans Candida that is associated with central line-associated infection. C. parapsilosis has higher minimal inhibitory concentration to echinocandin than Candida albicans, and the effects of echinocandin on C. parapsilosis are ambiguous. Therefore, in this study, we aimed to investigate the susceptibility and the correlation between incidence and drug consumption.MethodsThis retrospective study was conducted in a tertiary teaching hospital in northern Taiwan between 2008 and 2012. The Candida species distribution, the correlation between the use of antifungal agents and the incidence of C. parapsilosis bloodstream infection, demographic information, clinical characteristics, mortality rate, and in vitro susceptibility of C. parapsilosis were analyzed.ResultsA total of 77 episodes from 77 patients were included for analysis. The overall 90-day mortality rate was 41.6%. The incidence of C. parapsilosis bloodstream infection showed a moderate positive correlation with the increased defined daily dose of echinocandin. The risk factors associated with mortality included malignancy or a metastatic tumor. Multivariate logistical regression analysis showed that patients with malignancy had higher odds ratios in terms of mortality. The rate of C. parapsilosis resistance to fluconazole was 3%, whereas the susceptibility rate was 95.5%.ConclusionUnderlying comorbidity and malignancy were factors leading to death in patients with C. parapsilosis bloodstream infection. Catheter removal did not influence the mortality rate. The survival rate of patients receiving echinocandin was lower than the group receiving fluconazole. Fluconazole remains the drug of choice to treat C. parapsilosis bloodstream infections