Against Hayek

Presents a critical analysis of Hayek in the light of modern computability and economic computability theory.Hayek, Computability, Socialism

Computadores y democracia económica

El colapso del socialismo anteriormente existente obedeció a causas integradas en su mecanismo económico, que no son inherentes a todos los socialismos posibles. El artículo muestra que la teoría económica marxista, junto con la informática, proporciona el fundamento para adelantar un programa económico socialista viable y que el desarrollo de la informática y de Internet hace posible la planificación económica. Además, argumenta que el movimiento socialista nunca desarrolló un programa constitucional correcto y que la tecnología moderna abre nuevas oportunidades para la democracia. Por último, revisa los argumentos austriacos contra la posibilidad del cálculo socialista a la luz de la nueva capacidad informática y de las limitaciones del Protocolo de Kyoto

Values Law Values Metric

An investigation into the metric space generated by commodity exchange. Shows that this is an non-Euclidean space. Provides empirical data comparing labour and electricity as the possible supports for this metric space.Labour theory of value, metric spaces

Dynamically Hedging Oil and Currency Futures Using Receding Horizontal Control and Stochastic Programming

There is a lack of research in the area of hedging future contracts, especially in illiquid or very volatile market conditions. It is important to understand the volatility of the oil and currency markets because reduced fluctuations in these markets could lead to better hedging performance. This study compared different hedging methods by using a hedging error metric, supplementing the Receding Horizontal Control and Stochastic Programming (RHCSP) method by utilizing the London Interbank Offered Rate with the Levy process. The RHCSP hedging method was investigated to determine if improved hedging error was accomplished compared to the Black-Scholes, Leland, and Whalley and Wilmott methods when applied on simulated, oil, and currency futures markets. A modified RHCSP method was also investigated to determine if this method could significantly reduce hedging error under extreme market illiquidity conditions when applied on simulated, oil, and currency futures markets. This quantitative study used chaos theory and emergence for its theoretical foundation. An experimental research method was utilized for this study with a sample size of 506 hedging errors pertaining to historical and simulation data. The historical data were from January 1, 2005 through December 31, 2012. The modified RHCSP method was found to significantly reduce hedging error for the oil and currency market futures by the use of a 2-way ANOVA with a t test and post hoc Tukey test. This study promotes positive social change by identifying better risk controls for investment portfolios and illustrating how to benefit from high volatility in markets. Economists, professional investment managers, and independent investors could benefit from the findings of this study

Seed Invasion Filters and Forest Fire Severity

Forest seed dispersal is altered after fire. Using seed traps, we studied impacts of fire severity on timing of seed dispersal, total seed rain, and seed rain richness in patches of high and low severity fire and unburned Douglas-fir (Pseudotsuga menziesii) forests in the Fischer and Tyee fire complexes in the eastern Washington Cascades. Unburned plots had the lowest average seed production. The high severity fire patches in the Fischer Fire Complex had a higher total seed production than low severity fire patches of the same complex. At the Tyee Fire Complex, the total seed production for each of the two fire severities was similar, but the period of maximum seed dispersal was later for high severity than low severity fire. Seed rain at the Fischer Fire patches (sampled one year after the fire) was predominantly composed of annual species, while that of the Tyee Fire patches (sampled nine years after fire) was predominantly perennial species. Seed rain richness was greater in Tyee high severity patches than paired low severity fire patches. In these paired Tyee patches the average number of new seed species (species not found in the extant plot vegetation) was greater for high severity than low severity fire. Our results suggest that high severity fire plots are more porous to seed rain than low severity plots. Intact forest canopies may filter seed rain and reduce seed influx, while high severity fires are more open to invasion by seed dispersal

Validation of a fornix depth measurer: a putative tool for the assessment of progressive cicatrising conjunctivitis

Background/aims Documentation of conjunctival forniceal foreshortening in cases of progressive cicatrising conjunctivitis (PCC) is important in ascertaining disease stage and progression. Lower fornix shortening is often documented subjectively or semi-objectively, whereas upper forniceal obliteration is seldom quantified. Although tools such as fornix depth measurers (FDMs) have been described, their designs limit upper fornix measurement. The purpose of this study was to custom-design a FDM to evaluate the upper fornix and to assess variability in gauging fornix depth. \ud \ud Methods A polymethylmethacrylate FDM was constructed using industry-standard jewellery computer software and machinery. Two observers undertook a prospective independent evaluation of central lower fornix depth in a heterogeneous cohort of patients with clinically normal and abnormal conjunctival fornices both subjectively and by using the FDM (in mm). Upper central fornix depth was also measured. Agreement was assessed using Bland–Altman plots. \ud \ud Results Fifty-one eyes were evaluated. There was 100% intraobserver agreement to within 1 mm for each observer for lower fornix measurement. The mean difference in fornix depth loss using the FDM between observer 1 and 2 was 1.19%, with 95% confidence of agreement (±2SD) of −15% to +20%. In total, 86% (44/51) of measurements taken by the two observers agreed to within 10% of total lower fornix depth (ie, ±1 mm) versus only 63% (32/51) of the subjective measurements. Mean upper fornix difference was 0.57 mm, with 95% confidence of agreement of between −2 and + 3 mm. \ud \ud Conclusions This custom-designed FDM is well tolerated by patients and shows low intraobserver and interobserver variability. This enables repeatable and reproducible measurement of upper and lower fornix depths, facilitating improved rates of detection and better monitoring of progression of conjunctival scarring