Directly Indecomposables in Semidegenerate Varieties of Connected po-Groupoids

We study varieties with a term-definable poset structure, "po-groupoids". It is known that connected posets have the "strict refinement property" (SRP). In [arXiv:0808.1860v1 [math.LO]] it is proved that semidegenerate varieties with the SRP have definable factor congruences and if the similarity type is finite, directly indecomposables are axiomatizable by a set of first-order sentences. We obtain such a set for semidegenerate varieties of connected po-groupoids and show its quantifier complexity is bounded in general

Studies of fiber-matrix adhesion on compression strength

A study was initiated on the effect of the matrix polymer and the fiber matrix bond strength of carbon fiber polymer matrix composites. The work includes tests with micro-composites, single ply composites, laminates, and multi-axial loaded cylinders. The results obtained thus far indicate that weak fiber-matrix adhesion dramatically reduces 0 degree compression strength. Evidence is also presented that the flaws in the carbon fiber that govern compression strength differ from those that determine fiber tensile strength. Examination of post-failure damage in the single ply tests indicates kink banding at the crack tip

Weed Control by Herbicides in Field Crops

PDF pages: 4

REIT Pricing Efficiency; Should Investors Still Be Concerned?

This study examines the impact of the REIT boom on the market microstructure of REIT common stocks. We analyze NYSE-traded REITs during the pre-boom period (1992) and the post-boom period (1994), and find significant reductions in bid/ask spreads over the period. We also find that the bid/ask spread differential between REITs and non-REITs has been roughly halved between 1991 and 1994. These reductions provide a direct benefit to REIT investors in terms of reduction in transaction costs and improved liquidity, and suggest that the level of uncertainty on the part of the REIT specialist has been reduced.

An Examination of Informed Traders and the Market Microstructure of Real Estate Investment Trusts

A significant body of research exists documenting that REITs perform differently from other types of equity securities, although the reasons for these differences are unclear. This study examines the intraday trading behavior of Real Estate Investment Trusts (REITs). Specifically, intraday REIT returns, volume, trading activity, and bid/ask spread are examined in an attempt to better understand the patterns of intraday information flow for a sample of REITs trading on the NYSE. After controlling for differences in market capitalization, share price, and institutional holdings, this paper analyzes differences between REITs and non-REITs, and between REITs that are widely held by institutions and those that are not. The results suggest that, as a group, REITs exhibit lower average volumes and number of trades than do similar non-REITs. In addition, the findings suggest that mortgage REITs trade at spreads that are wider. Surprisingly, the analysis of institutional ownership suggests that equity REITs that are widely held by institutions exhibit the largest divergence from non-REITs in terms of both intraday trading activity and volume, but at the same time trade closer to non-REITs in terms of bid/ask spread. Overall, the results of this study confirm that REITs are treated differently by investors than similar non-REITs, and the institutional ownership findings suggest that trading activity is less important as a determinant of REIT performance than is the level of institutional ownership.

Inflight estimation of gyro noise

A method is described and demonstrated for estimating single-axis gyro noise levels in terms of the Farrenkopf model parameters. This is accomplished for the Cosmic Background Explorer (COBE) by comparing gyro-propagated attitudes with less accurate single-frame solutions and fitting the squared differences to a third-order polynomial in time. Initial results are consistent with the gyro specifications, and these results are used to determine limits on the duration of batches used to determine attitude. Sources of error are discussed, and guidelines for a more elegant implementation, as part of a batch estimator or filter, are included for future work