International Portfolio Formation, Skewness & the Role of Gold

This paper examines the optimal allocation of assets in well diversified equity based portfolio where the investor is concerned not only with mean and variance but also with the skewness of the returns. Beginning with an analysis of the rationale for concerning with skewness, the paper then discusses previous attempts to model multi-objective portfolio problems. The second part of the paper outlines the attractive nature of the gold asset in equity portfolios. The paper then integrates the two elements, showing the changes in portfolio composition that arise when not only skewness but gold are concerned.Portfolio Allocation, Skewness, Gold

Comparison of Ice-Bank Actual Results Against Simulated Predicted Results in Carroll Refurbishment Project DKIT

This paper reviews the selection methods used in the design of an ice-bank thermal energy storage (TES) application in the Carroll’s building in Dundalk IT. The complexities of the interaction between the on- site wind turbine, existing campus load and the refurbished building meant that traditional calculation methods and programmes could not be used and specialist software had to be developed during the design process. The research reviews this tool against the actual results obtained from the operation in the building for one college term of full time use. The paper also examines the operation of the system in order to produce recommendations for its potential modification to improve its efficiency and utilisation. Simulation software is evaluated and maximum import capacity is minimised. Significant budget constraints limited the level of control and metering that could be provided for the project, and this paper demonstrates some investigative processes that were used to overcome the limitations on data availability

The effect of using labelled alternatives in stated choice experiments: an exploration focusing on farmland walking trails in Ireland

Discrete choice experiment data aimed at eliciting the demand for recreational walking trails on farmland in Ireland is used to explore whether some respondents reach their choices solely on the basis of the alternative’s label. To investigate this type of processing strategy, the paper exploits a discrete mixtures approach which encompasses random parameters for the attributes. We find evidence that respondents employ different processing strategies for different alternatives and differences in processing emerge between rural and urban based respondents. Results highlight that model fit and policy conclusions are sensitive to assumptions related to processing strategies among respondentsDiscrete choice experiments, processing strategies, discrete mixtures, rural and urban comparison, outdoor recreation, welfare estimates, Land Economics/Use,

Combining discrete and continuous mixing approaches to accommodate heterogeneity in price sensitivities in environmental choice analysis

Data from a discrete choice experiment aimed at eliciting the demand for recreational walking trails on farmland in the Republic of Ireland is used to explore the consequences of misspecifying the cost coefficient. To enable straightforward calculation of WTP from the distributions of the non-price coefficients, the price coefficient is typically held constant in mixed logit models. This implies that all respondents are equally price sensitive. In this paper we test the validity of this assumption. Our approach is based on a comparison and combination of discrete and continuous mixing approaches (i.e., a mixture of distributions) to uncover the unobserved heterogeneity in price sensitivities. Results from the analysis highlight that model fit and willingness to pay are sensitive to the distributional assumptions used to represent the price coefficient.discrete choice experiments, discrete mixtures, continuous mixtures, mixtures of distributions, price sensitivities, farmland recreation, willing to pay space, Environmental Economics and Policy,

Public access to the countryside: An exploration of the costs and benefits of farmland walking trails

To date, estimates of individuals’ willingness to pay (WTP) for access to the countryside have typically been on sites of special interest such as developed walking routes, public rights of way in specific areas, national parks and forests (see Lockwood and Tracy, 1995; Bennett and Tranter, 1997; Crabtree and MacDonald, 1997; Liston-Heyes and Heyes, 1999; Garrod et al., 1998; Bennett et al., 2003; Buckley et al., 2009; Morris et al., 2009). There has been little if any attempt to derive estimates of individuals’ WTP for the provision of walking trails in the wider countryside at a national level. The present study aims to build on previous work by examining the demand for particular types of walking trails through a nationally representative survey of the Irish population. One further advantage of this research is that apart from valuing walking activities in a generic sense this paper investigates what types of investment in facilities associated with walking trails generate the greatest welfare gains. Furthermore, using a nationally representative survey of the farming population this paper examines farmers’ willingness to participate in a hypothetical walking scheme whereby the general public will be allowed access to specific trails. First by way of background this paper will discuss the situation in relation to access rights to the countryside across a number of countries. Second this paper will outline the research approach which is followed with a discussion of the empirical results. Finally this paper will conclude with a discussion of the papers main findings and their implications for the provision of public access to the countryside.This work was funded by the Department of Agriculture, Fisheries and Food under the Stimulus Funding

Peripartum hysterectomy incidence, risk factors and clinical characteristics in Ireland

Background: The incidence of peripartum hysterectomy (PH) shows fifty-fold variation worldwide (0.2–10.5/1000 deliveries) and risk factors include advancing maternal age and parity, previous caesarean section (CS) and abnormal placentation. Objectives: In this first national study of PH in Ireland, our objectives were threefold: to describe the national trend in PH incidence over 15 years since 1999; to assess risk of PH associated with morbidly adherent placenta (MAP), placenta praevia and postpartum haemorrhage (PPH) during 2005–2013; and to describe the causes, interventions and outcomes of PH cases during 2011–2013. Study design: For the 15-year time-trend analysis, PH cases and denominator data were extracted from Ireland’s Hospital In-Patient Enquiry database. Multivariate Poisson regression analysis assessed risk of PH associated with MAP, placenta praevia and PPH. In collaboration with the 20 Irish maternity units we carried out a three-year national clinical audit of severe maternity morbidity. PH was a notifiable morbidity and the audit included detailed review of MOH cases. Results: In 1999–2013 there were 298 PH cases, a rate of 0.32/1000 deliveries. During the period 2005–2013, the PH rate was 50 times higher in deliveries involving PPH, 100 times higher with placenta praevia and 1000 times higher with MAP. During the clinical audit (2011–2013) there were 65 PH cases, a rate of 0.33/1000 deliveries, increasing with advancing age and parity. The reporting of abnormal placentation, primarily the co-occurrence of placenta praevia and MAP, was linked with previous CS. Fifty-six of the 65 cases suffered MOH, most commonly associated with placenta praevia, MAP and uterine atony. Prophylactic and therapeutic uterotonic agents were appropriately used in the majority of cases. Conclusions: The incidence of PH in Ireland has been consistently low over 15 years, averaging one case every 3000 deliveries. The recognised risk factors of MAP, placenta praevia and PPH were independently associated with PH, with MAP being by far the strongest predictor. The vast majority of PH cases in our clinical audit were associated with MOH. Some deficiencies were noted in antenatal care, in certain elements of treatment and clinical governance protocols but adherence to guidelines was generally high

MicroRNA-146a is upregulated by and negatively regulates TLR2 signaling

TLR signaling is a crucial component of the innate immune response to infection. MicroRNAs (miRNAs) have been shown to be upregulated during TLR signaling. Specifically, microRNA-146a (miR-146a) plays a key role in endotoxin tolerance by downregulating interleukin-1 receptor-associated kinase 1 (IRAK-1). The aim of this study was to assess the role of miR-146a in the TLR2 signaling and development of bacterial lipoprotein (BLP) self-tolerance and cross-tolerance to bacteria. Expression of miR-146a increased in a dose- and time-dependent manner in BLP-stimulated human THP-1 promonocytic cells. In BLP-tolerised cells miR-146a was even further upregulated in response to BLP re-stimulation (p,0.001). Restimulation of BLP-tolerised cells with heat-killed gram-negative Salmonella typhimurium (S. typhimurium), but not grampositive Staphylococcus aureus (S. aureus), led to significant overexpression of miR-146a (p,0.05). Transfection of naive cells with a miR-146a mimic substantially suppressed TNF-a production (p,0.05). Furthermore, overexpression of miR-146a resulted in strong reduction in IRAK-1 and phosphorylated IkBa expression in naive and S. typhimurium-stimulated THP-1 cells. Collectively, miR-146a is upregulated in response to BLP and bacterial stimulation in both naive and BLP-tolerised cells. Overexpression of miR-146a induces a state analogous to tolerance in BLP-stimulated cells and therefore may represent a future target for exogenous modulation of tolerance during microbial infection and sepsi

Exploring the Effects of bolA in Biofilm Formation and Current Generation by Shewanella oneidensis MR-1

Microbial electrochemical technologies (METs) have emerged in recent years as a promising alternative green source of energy, with microbes consuming organic matter to produce energy or valuable byproducts. It is the ability of performing extracellular electron transfer that allows these microbes to exchange electrons with an electrode in these systems. The low levels of current achieved have been the limiting factor for the large-scale application of METs. Shewanella oneidensis MR-1 is one of the most studied electroactive organisms regarding extracellular electron transfer, and it has been shown that biofilm formation is a key factor for current generation. The transcription factor bolA has been identified as a central player in biofilm formation in other organisms, with ist overexpression leading to increased biofilm. In this work we explore the effect of this gene in biofilm formation and current production by S. oneidensis MR-1. Our results demonstrate that an increased biofilm formation and consequent current generation was achieved by the overexpression of this gene. This information is crucial to optimize electroactive organisms toward their practical application in METs

A paleomagnetic cross-section through the Ardenne and the Brabant Massifs (France-Belgium)

In order to constrain the motions of the allochthonous Ardenne during the Paleozoic, standard paleomagnetic techniques have been applied on acidic and basic sills of the Cambrian Rocroi massif and on Cambrian-to-Visean sedimentary series sampled along the Meuse valley. Ordovician–Silurian volcanics and Devonian–Visean limestones have also been collected in the autochtonous Brabant and Namur basin, in order to get paleomagnetic reference poles. In the Ardenne, two groups of in situ paleomagnetic directions arise. The A components (mean: D = 212°, I = -11°, α95 = 6°, for 10 sites), that are characterized by unblocking temperatures around 330° C, represent Late Variscan (Stephanian–Permian) overprints. The B components (mean: D = 236°, I = 2°, α95 = 11°, for 13 sites) display higher unblocking temperatures, in the range 400°-580° C. They show a large scatter in inclination (–25° < I < 35°) that is not reduced by tectonic correction. The B components are interpreted as post- and partly synfolding overprints of Middle-Late Carboniferous age. In the Brabant, all series display Late Variscan remagnetizations (mean: D = 204°, I = -7°, α95 = 9°, for 5 sites), consistent with the Stephanian- Permian pole of Europe. The existence of Middle-to-Late Variscan B directions in the Armorican Massif, Central Massif, Vosges and Black Forest indicates that in Namurian–Westphalian times the whole investigated Variscan belt, including the Ardenne, was trending N-S.  A 45° clockwise rotation relative to the paleomeridian, during the latest Westphalian–Stephanian, has lead the massif to its Permian position.           ARK: https://n2t.net/ark:/88439/y010025 Permalink: https://geophysicsjournal.com/article/140 &nbsp