Novel Fmoc-Polyamino Acids for Solid-Phase Synthesis of Defined Polyamidoamines

A versatile solid-phase approach to sequence-defined polyamidoamines was developed. Four different Fmoc-polyamino acid building blocks were synthesized by selective protection of symmetrical oligoethylenimine precursors followed by introduction of a carboxylic acid handle using cyclic anhydrides and subsequent Fmoc-protection. The novel Fmoc-polyamino acids were used to construct polyamidoamines demonstrating complete compatibility to standard Fmoc reaction conditions. The straightforward synthesis of the building blocks and the high efficiency of the solid-phase coupling reactions allow the versatile synthesis of defined polycations

LOSS AVERSION AND LABOR SUPPLY

In many occupations, workers’ labor supply choices are constrained by institutional rules regulating labor time and effort provision. This renders explicit tests of the neoclassical theory of labor supply difŽ cult. Here we present evidence from studies examining labor supply responses in “neoclassical environments” in which workers are free to choose when and how much to work. Despite the favorable environment, the results cast doubt on the neoclassical model. They are, however, consistent with a model of reference-dependent preferences exhibiting loss aversion and diminishing sensitivity.labor supply, loss aversion, neoclassical environments

Long-term analysis of numerical integrators for oscillatory Hamiltonian systems under minimal non-resonance conditions

For trigonometric and modified trigonometric integrators applied to oscillatory Hamiltonian differential equations with one or several constant high frequencies, near-conservation of the total and oscillatory energies are shown over time scales that cover arbitrary negative powers of the step size. This requires non-resonance conditions between the step size and the frequencies, but in contrast to previous results the results do not require any non-resonance conditions among the frequencies. The proof uses modulated Fourier expansions with appropriately modified frequencies.Comment: 26 page

The Fragility of Short-Term Secured Funding Markets

This paper develops an infinite-horizon model of financial institutions that borrow short-term and invest in long-term assets that can be traded in frictionless markets. Because these financial intermediaries perform maturity transformation, they are subject to potential runs. We derive distinct liquidity, collateral, and asset liquidation constraints, which determine whether a run can occur as a result of changing market expectations. We show that the extent to which borrowers can ward off an individual run depends on whether it has sufficient liquidity, collateral, and asset liquidation capacity. These determinants depend on the borrower’s (endogenous) balance sheet and on (exogenous) fundamentals. Systemic runs are possible if shocks to the valuation of collateral held by outside investors are sufficiently strong and uniform, and if the system as a whole is exposed to high short-term funding risk. The theory has policy implications for prudential regulation and lender-of-last-resort interventions

IMPACT OF CASH SETTLEMENT ON FEEDER CATTLE BASIS

The feeder cattle futures contract specifications were changed in 1986 from physical delivery to cash settlement. The Chicago Mercantile Exchange expected this change to reduce basis variability and improve the ability of hedgers to predict basis. This study analyzes the basis for individual lots of feeder cattle before and after cash settlement. Basis equations were estimated by breed, sex, weight, grade, and season. These equations were used to predict basis. The results indicate basis variability was not reduced and hedger ability to forecast basis, in general, was not improved significantly under cash settlement compared to physical delivery.Marketing,

hp-version time domain boundary elements for the wave equation on quasi-uniform meshes

Solutions to the wave equation in the exterior of a polyhedral domain or a screen in $\mathbb{R}^3$ exhibit singular behavior from the edges and corners. We present quasi-optimal $hp$-explicit estimates for the approximation of the Dirichlet and Neumann traces of these solutions for uniform time steps and (globally) quasi-uniform meshes on the boundary. The results are applied to an $hp$-version of the time domain boundary element method. Numerical examples confirm the theoretical results for the Dirichlet problem both for screens and polyhedral domains.Comment: 41 pages, 11 figure