Information Flow in Social Groups

We present a study of information flow that takes into account the observation that an item relevant to one person is more likely to be of interest to individuals in the same social circle than those outside of it. This is due to the fact that the similarity of node attributes in social networks decreases as a function of the graph distance. An epidemic model on a scale-free network with this property has a finite threshold, implying that the spread of information is limited. We tested our predictions by measuring the spread of messages in an organization and also by numerical experiments that take into consideration the organizational distance among individuals

Evaluating Future Water Availability in Texas through the Lens of a Data-Driven Approach Leveraged with CMIP6 General Circulation Models

Climate change is escalating the frequency and intensity of extreme precipitation events, significantly influencing the spatial and temporal distributions of water resources. This is particularly evident in Texas, a rapidly growing state with a pronounced west-east gradient in water supply. This study utilizes Coupled Model Intercomparison Project Phase 6 (CMIP6) data and data-driven methodology to improve projections of Texas\u27s future water resources, focusing on actual evapotranspiration (AET) and water availability through enhanced Multi-Model Ensembles. The results reveal that the data-driven model significantly outperforms the CMIP5 and CMIP6 models across all skill metrics, underscoring the potential of data-driven methodologies in advancing climate science. Furthermore, the study provides an in-depth analysis of the projected changes in net water availability (NWA) and estimated water demand for different regions in Texas over the next six decades from 2015 to 2074, which reveal fluctuating patterns of water stress, with the regions (nine out of sixteen water planning regions in Texas, especially for the most populated regions) poised for heightened challenges in reconciling water demand and availability. While increasing trends are found in precipitation, AET, and NWA for the northern region of Texas based on SSP2–4.5, decreasing trends are found over the southern region for all three parameters based on SSP5–8.5. These findings underscore the importance of factoring both spatial and temporal variations in water availability and demand for effective water management strategies and the need for adaptive water management strategies for the changing water availability scenarios

Genome of an iconic Australian bird: High‐quality assembly and linkage map of the superb fairy‐wren (Malurus cyaneus)

The superb fairy-wren, Malurus cyaneus, is one of the most iconic Australian passerine species. This species belongs to an endemic Australasian clade, Meliphagides, which diversified early in the evolution of the oscine passerines. Today, the oscine passer-ines comprise almost half of all avian species diversity. Despite the rapid increase of available bird genome assemblies, this part of the avian tree has not yet been repre-sented by a high-quality reference. To rectify that, we present the first high-quality genome assembly of a Meliphagides representative: the superb fairy-wren. We com-bined Illumina shotgun and mate-pair sequences, PacBio long-reads, and a genetic linkage map from an intensively sampled pedigree of a wild population to gener-ate this genome assembly. Of the final assembled 1.07-Gb genome, 975 Mb (90.4%) was anchored onto 25 pseudochromosomes resulting in a final superscaffold N50 of 68.11 Mb. This high-quality bird genome assembly is one of only a handful which is also accompanied by a genetic map and recombination landscape. In comparison to other pedigree-based bird genetic maps, we find that the fairy-wren genetic map more closely resembles those of Taeniopygia guttata and Parus major maps, unlike the Ficedula albicollis map which more closely resembles that of Gallus gallus. Lastly, we also provide a predictive gene and repeat annotation of the genome assembly. This new high-quality, annotated genome assembly will be an invaluable resource not only regarding the superb fairy-wren species and relatives but also broadly across the avian tree by providing a novel reference point for comparative genomic analyses.Funding was provided by the Australian Research Council (DP150100298), and the office of the DVC (Research) at the Australian National University.

The Disintermediation of Financial Markets: Direct Investing in Private Equity

We examine twenty years of direct private equity investments by seven large institutions. These direct investments perform better than public market indices, especially buyout investments and those made in the 1990s. Outperformance by the direct investments, however, relative to the corresponding private equity fund benchmarks is limited and concentrated among buyout transactions. Co-investments underperform the corresponding funds with which they co-invest, due to an apparent adverse selection of transactions available to these investors, while solo transactions outperform fund benchmarks. Investors' ability to resolve information problems appears to be an important driver of solo deal outcomes