Evaluating the predictiveness and profitability of foreign exchange forecasting models

This paper evaluates the performance of two competing currency models as a forecasting and trading tool in fund management. A dynamic vector error correction model is utilized to construct a currency forecasting and fair value forecasting model for the Euro-Dollar exchange rate. Emphasis is placed on robustness testing model performance by changing its specification and how they perform across different time periods. Based on the accuracy of the forecasts the fair value model outperforms the currency forecasting model; a finding that is not supported using directional forecasts. This is robust to changes in model specification and across different time spans that cover pre-and current financial crisis periods. It is also discovered that the evaluation criteria used and prevailing market conditions determines whether model performance translates into value added in a currency fund

Discrete variational integrators and optimal control theory

A geometric derivation of numerical integrators for optimal control problems is proposed. It is based in the classical technique of generating functions adapted to the special features of optimal control problems.Comment: 17 page

Tulczyjew's triples and lagrangian submanifolds in classical field theories

In this paper the notion of Tulczyjew's triples in classical mechanics is extended to classical field theories, using the so-called multisymplectic formalism, and a convenient notion of lagrangian submanifold in multisymplectic geometry. Accordingly, the dynamical equations are interpreted as the local equations defining these lagrangian submanifolds.Comment: 29 page

Geometric numerical integration of nonholonomic systems and optimal control problems

A geometric derivation of numerical integrators for nonholonomic systems and optimal control problems is obtained. It is based in the classical technique of generating functions adapted to the special features of nonholonomic systems and optimal control problems.Comment: 6 pages, 1 figure. Submitted to IFAC Workshop on Lagrangian and Hamiltonian Methods for Nonlinear Control, Sevilla 200

How value-glamour investors use financial information: UK evidence of investor's confirmation bias

The paper investigates investor’s behaviour in the context of value–glamour investing and fundamental analysis, and provides a direct test of the confirmation bias by bringing together the evidence from several strands of literature into a well-defined framework of investor behaviour. The empirical evidence presented is in line with a model of investor’s asymmetric reaction to good and bad news due to confirmation bias. Pessimistic value investors typically under-react to good financial information, but they process bad information rationally or over-confidently. On the contrary, glamour investors are often too optimistic to timely update prices following bad financial information, but they are likely to fairly price or even over-react when receiving good information

Physiological effects of different oxygen flow rates and ambient temperatures on pressure-suited subjects performing work at altitude

Physiological effects of oxygen flow rates and ambient temperatures on pressure-suited subjects performing work in altitude chambe

UV lighting in horticulture: A sustainable tool for improving production quality and food safety

Ultraviolet (UV) is a component of solar radiation that can be divided into three types defined by waveband: UV-A (315-400 nm), UV-B (280-315 nm), and UV-C (<280 nm). UV light can influence the physiological responses of plants. Wavelength, intensity, and exposure have a great impact on plant growth and quality. Interaction between plants and UV light is regulated by photoreceptors such as UV Resistance Locus 8 (UVR8) that enables acclimation to UV-B stress. Although UV in high doses is known to damage quality and production parameters, some studies show that UV in low doses may stimulate biomass accumulation and the synthesis of healthy compounds that mainly absorb UV. UV exposure is known to induce variations in plant architecture, important in ornamental crops, increasing their economic value. Abiotic stress induced by UV exposure increases resistance to insects and pathogens, and reduce postharvest quality depletion. This review highlights the role that UV may play in plant growth, quality, photomorphogenesis, and abiotic/biotic stress resistance

High-pressure x-ray diffraction study of bulk and nanocrystalline PbMoO4

We studied the effects of high-pressure on the crystalline structure of bulk and nanocrystalline scheelite-type PbMoO4. We found that in both cases the compressibility of the materials is highly non-isotropic, being the c-axis the most compressible one. We also observed that the volume compressibility of nanocrystals becomes higher that the bulk one at 5 GPa. In addition, at 10.7(8) GPa we observed the onset of an structural phase transition in bulk PbMoO4. The high-pressure phase has a monoclinic structure similar to M-fergusonite. The transition is reversible and not volume change is detected between the low- and high-pressure phases. No additional structural changes or evidence of decomposition are found up to 21.1 GPa. In contrast nanocrystalline PbMoO4 remains in the scheelite structure at least up to 16.1 GPa. Finally, the equation of state for bulk and nanocrystalline PbMoO4 are also determined.Comment: 18 pages, 4 figure