Industrial heritage and landscape. The role of water in the architectural reactivation of the Burgo Paper Mill in Mantua

The paper is part of a research project, carried out within the Polytechnic University of Milan about the Burgo Paper Mill, an industrial settlement involved in the production of paper near the UNESCO World Heritage site of Mantua, on the banks of the Lago di Mezzo lake. The area represents an exceptional case study related to the topics of industrial reconversion, landscape, environmental design, and the valorization of cultural and natural heritage. The recent change in the site ownership fostered a new life cycle, which represents the occasion for the enhancement of its architectural and landscape heritage. The research project focused on a new system of relations between architectural artefacts and open spaces, with a particular consideration about socioeconomic and cultural themes, as well as the role that water can play in the future development of the site. Water plays a key role in the definition of cultural and natural elements in this research project, revealing new possibilities for revitalization of the industrial settlement as well as the whole territorial framework. Between theoretical thought and design experimentation, pursuing to tackle the problem in its whole complexity, the authors understood the necessity of a multi-scalar approach structured within a time-based strategy

Industrial heritage and landscape. The role of water in the architectural reactivation of the Burgo Paper Mill in Mantua

The paper is part of a research project, carried out within the Polytechnic University of Milan about the Burgo Paper Mill, an industrial settlement involved in the production of paper near the UNESCO World Heritage site of Mantua, on the banks of the Lago di Mezzo lake. The area represents an exceptional case study related to the topics of industrial reconversion, landscape, environmental design, and the valorization of cultural and natural heritage. The recent change in the site ownership fostered a new life cycle, which represents the occasion for the enhancement of its architectural and landscape heritage. The research project focused on a new system of relations between architectural artefacts and open spaces, with a particular consideration about socioeconomic and cultural themes, as well as the role that water can play in the future development of the site. Water plays a key role in the definition of cultural and natural elements in this research project, revealing new possibilities for revitalization of the industrial settlement as well as the whole territorial framework. Between theoretical thought and design experimentation, pursuing to tackle the problem in its whole complexity, the authors understood the necessity of a multi-scalar approach structured within a time-based strategy

Realizing smiles: Options pricing with realized volatility

We develop a discrete-time stochastic volatility option pricing model exploiting the information contained in the Realized Volatility (RV), which is used as a proxy of the unobservable log-return volatility. We model the RV dynamics by a simple and effective long-memory process, whose parameters can be easily estimated using historical data. Assuming an exponentially affine stochastic discount factor, we obtain a fully analytic change of measure. An empirical analysis of Standard and Poor's 500 index options illustrates that our model outperforms competing time-varying and stochastic volatility option pricing models

Options pricing with realized volatility

We develop a discrete-time stochastic volatility option pricing model, which exploits the information contained in high-frequency data. The Realized Volatility (RV) is used as a proxy of the unobservable log-returns volatility. We model its dynamics by a simple but effective (pseudo) long memory process, the Heterogeneous Auto-Regressive Gamma with Leverage (HARGL) process. Both the discrete-time specification and the use of the RV allow us to easily estimate the model using observed historical data. Assuming a standard, exponentially affine stochastic discount factor, we obtain a fully analytic change of measure. An extensive empirical analysis of S&P 500 index options illustrates that our approach significantly outperforms competing time-varying (i.e. GARCH-type) and stochastic volatility pricing models. The pricing improvement can be ascribed to: (i) the direct use of the RV, which provides a precise and fast-adapting measure of the unobserved underlying volatility; and (ii) the specification of our model, which, on the one hand, is able to accurately reproduce the volatility persistence and, on the other hand, provides the necessary smoothing of the noise present in the RV dynamics

Revitalizing Collective Resources in Mountain Areas Through Community Engagement and Knowledge Cocreation

The ongoing global and large-scale changes in markets, demographics, and use of resources are impacting mountain peoples and regions. In mountain areas, resources have been governed through community-based systems for resource management for centuries, ensuring stewardship and local decision-making over the resources. Due to the importance of such systems to mountain societies, there is a need to understand local effects of global changes and reconfigure community-based resource management (CRM) to meet local needs while tackling global challenges. Changes include biodiversity loss and the climate crisis, as well as increasing social and economic disparities. Studies on the role of knowledge cocreation in the process of CRM innovation in response to ongoing changes in mountain social–ecological systems are missing. This study aimed to explore the reconfigurations that enable CRM to foster sustainable development and thriving communities. The study focused on an intervention promoting community entrepreneurship in community-based tourism for the revitalization of collective resources in 2 mountain communities in Northern Italy. We adopted a transdisciplinary approach and a research action methodology to codesign the interventions and research. Data from focus groups, a survey, participatory activities, interviews, and participant observation were collected and analyzed using a qualitative content analysis method. Results show that emerging reconfigurations in CRM include recognition of new values and uses of collective resources, inclusion of new stakeholders, and innovation of the organizational model, shifting the perspective from resource management to resource governance. The study recommends striking a balance between pushing innovation and increasing power imbalances. It is important to pay attention to the inclusivity of the process and to avoid excessive commodification of resources

Pain as Defining Feature of Health Status and Prominent Therapeutic Target in Patients with Hidradenitis Suppurativa

Background. Pain is one of the main aspects of hidradenitis suppurativa that strongly affects the quality of life of patients. We explored the relationship between pain and clinical severity as well as its role in defining the health status in patients with HS. Methods. Pain was defined by three measures: (a) question 1 (“my skin hurts”) of the Skindex-17; (b) Bodily Pain (BP) scale of the SF-36; and (c) Visual Analog Scale (VAS). Clinical severity of HS was assessed by the Hurley staging, the Sartorius HS Score, and the International HS Severity Score System. Results. The study population included 341 HS patients with complete data for the VAS pain, 316 for question 1 of the Skindex-17, and 294 for BP. Clinical severity was positively associated with pain. This result was observed for all three severity scores and all three pain evaluation methods. In addition, the number of fistulae, abscesses, and nodules were significantly associated with the three severity measures of pain, while the association with scars was not observed for question 1 of the Skindex-17 and BP. Conclusions. Pain may be a good proxy of clinical severity and efficacy of a treatment in HS and therefore a crucial hallmark of patients’ health status

Quality of life of COVID-19 critically ill survivors after ICU discharge: 90 days follow-up

The onset of the coronavirus disease 19 (COVID-19) pandemic in Italy induced a dramatic increase in the need for intensive care unit (ICU) beds for a large proportion of patients affected by COVID-19-related acute respiratory distress syndrome (ARDS). The aim of the present study was to describe the health-related quality of life (HRQoL) at 90 days after ICU discharge in a cohort of COVID-19 patients undergoing invasive mechanical ventilation and to compare it with an age and sex-matched sample from the general Italian and Finnish populations. Moreover, the possible associations between clinical, demographic, social factors, and HRQoL were investigated. Methods COVID-19 ARDS survivors from 16 participating ICUs were followed up until 90 days after ICU discharge and the HRQoL was evaluated with the 15D instrument. A parallel cohort of age and sex-matched Italian population from the same geographic areas was interviewed and a third group of matched Finnish population was extracted from the Finnish 2011 National Health survey. A linear regression analysis was performed to evaluate potential associations between the evaluated factors and HRQoL. Results 205 patients answered to the questionnaire. HRQoL of the COVID-19 ARDS patients was significantly lower than the matched populations in both physical and mental dimensions. Age, sex, number of comorbidities, ARDS class, duration of invasive mechanical ventilation, and occupational status were found to be significant determinants of the 90 days HRQoL. Clinical severity at ICU admission was poorly correlated to HRQoL. Conclusion COVID-19-related ARDS survivors at 90 days after ICU discharge present a significant reduction both on physical and psychological dimensions of HRQoL measured with the 15D instrument.PURPOSE: The onset of the coronavirus disease 19 (COVID-19) pandemic in Italy induced a dramatic increase in the need for intensive care unit (ICU) beds for a large proportion of patients affected by COVID-19-related acute respiratory distress syndrome (ARDS). The aim of the present study was to describe the health-related quality of life (HRQoL) at 90 days after ICU discharge in a cohort of COVID-19 patients undergoing invasive mechanical ventilation and to compare it with an age and sex-matched sample from the general Italian and Finnish populations. Moreover, the possible associations between clinical, demographic, social factors, and HRQoL were investigated. METHODS: COVID-19 ARDS survivors from 16 participating ICUs were followed up until 90 days after ICU discharge and the HRQoL was evaluated with the 15D instrument. A parallel cohort of age and sex-matched Italian population from the same geographic areas was interviewed and a third group of matched Finnish population was extracted from the Finnish 2011 National Health survey. A linear regression analysis was performed to evaluate potential associations between the evaluated factors and HRQoL. RESULTS: 205 patients answered to the questionnaire. HRQoL of the COVID-19 ARDS patients was significantly lower than the matched populations in both physical and mental dimensions. Age, sex, number of comorbidities, ARDS class, duration of invasive mechanical ventilation, and occupational status were found to be significant determinants of the 90 days HRQoL. Clinical severity at ICU admission was poorly correlated to HRQoL. CONCLUSION: COVID-19-related ARDS survivors at 90 days after ICU discharge present a significant reduction both on physical and psychological dimensions of HRQoL measured with the 15D instrument. TRIAL REGISTRATION: NCT04411459