Stock Market Indices: A Principal Components Analysis

This paper investigates a widely quoted stock market index, the Dow Jones Industrial Average (hereafter DJI), and constructs some alternative indices. Their performances are compared to the DJI. The question of applying the indices to problems of portfolio selection is explored when investors’ utility functions are quadratic in the rate of return. By constructing indices from data collected in different time periods, some conclusions are drawn about the constancy of price and rate of return covariance and correlation matrices of the 30 Dow Jones Industrial stocks over time

Hierarchical Bayesian Detection Algorithm for Early-Universe Relics in the Cosmic Microwave Background

A number of theoretically well-motivated additions to the standard cosmological model predict weak signatures in the form of spatially localized sources embedded in the cosmic microwave background (CMB) fluctuations. We present a hierarchical Bayesian statistical formalism and a complete data analysis pipeline for testing such scenarios. We derive an accurate approximation to the full posterior probability distribution over the parameters defining any theory that predicts sources embedded in the CMB, and perform an extensive set of tests in order to establish its validity. The approximation is implemented using a modular algorithm, designed to avoid a posteriori selection effects, which combines a candidate-detection stage with a full Bayesian model-selection and parameter-estimation analysis. We apply this pipeline to theories that predict cosmic textures and bubble collisions, extending previous analyses by using: (1) adaptive-resolution techniques, allowing us to probe features of arbitrary size, and (2) optimal filters, which provide the best possible sensitivity for detecting candidate signatures. We conclude that the WMAP 7-year data do not favor the addition of either cosmic textures or bubble collisions to the standard cosmological model, and place robust constraints on the predicted number of such sources. The expected numbers of bubble collisions and cosmic textures on the CMB sky within our detection thresholds are constrained to be fewer than 4.0 and 5.2 at 95% confidence, respectively.Comment: 34 pages, 18 figures. v3: corrected very minor typos to match published versio

Alcohol consumption in young adults: the role of multisensory imagery.

Accepted 19.11.2013Little is known about the subjective experience of alcohol desire and craving in young people. Descriptions of alcohol urges continue to be extensively used in the everyday lexicon of young, non-dependent drinkers. Elaborated Intrusion (EI) Theory contends that imagery is central to craving and desires, and predicts that alcohol-related imagery will be associated with greater frequency and amount of drinking. This study involved 1,535 age stratified 18- 25 year olds who completed an alcohol–related survey that included the Imagery scale of the Alcohol Craving Experience (ACE) questionnaire. Imagery items predicted 12-16% of the variance in concurrent alcohol consumption. Higher total Imagery subscale scores were linearly associated with greater drinking frequency and lower self-efficacy for moderate drinking. Interference with alcohol imagery may have promise as a preventive or early intervention target in young people

(Lack of) Cosmological evidence for dark radiation after Planck

We use Bayesian model comparison to determine whether extensions to Standard-Model neutrino physics primarily additional effective numbers of neutrinos and/or massive neutrinos are merited by the latest cosmological data. Given the significant advances in cosmic microwave background (CMB) observations represented by the Planck data, we examine whether Planck temperature and CMB lensing data, in combination with lower redshift data, have strengthened (or weakened) the previous findings. We conclude that the state-of-the-art cosmological data do not show evidence for deviations from the standard (ΛCDM) cosmological model (which has three massless neutrino families). This does not mean that the model is necessarily correct in fact we know it is incomplete as neutrinos are not massless but it does imply that deviations from the standard model (e.g., non-zero neutrino mass) are too small compared to the current experimental uncertainties to be inferred from cosmological data alone

Criminal narrative experience: relating emotions to offence narrative roles during crime commission

A neglected area of research within criminality has been that of the experience of the offence for the offender. The present study investigates the emotions and narrative roles that are experienced by an offender while committing a broad range of crimes and proposes a model of Criminal Narrative Experience (CNE). Hypotheses were derived from the Circumplex of Emotions (Russell, 1997), Frye (1957), Narrative Theory (McAdams, 1988) and its link with Investigative Psychology (Canter, 1994). The analysis was based on 120 cases. Convicted for a variety of crimes, incarcerated criminals were interviewed and the data were subjected to Smallest Space Analysis (SSA). Four themes of Criminal Narrative Experience (CNE) were identified: Elated Hero, Calm Professional, Distressed Revenger and Depressed Victim in line with the recent theoretical framework posited for Narrative Offence Roles (Youngs & Canter, 2012). The theoretical implications for understanding crime on the basis of the Criminal Narrative Experience (CNE) as well as practical implications are discussed

Prospects for resolving the Hubble constant tension with standard sirens

The Hubble constant ($H_0$) estimated from the local Cepheid-supernova (SN) distance ladder is in 3-$\sigma$ tension with the value extrapolated from cosmic microwave background (CMB) data assuming the standard cosmological model. Whether this tension represents new physics or systematic effects is the subject of intense debate. Here, we investigate how new, independent $H_0$ estimates can arbitrate this tension, assessing whether the measurements are consistent with being derived from the same model using the posterior predictive distribution (PPD). We show that, with existing data, the inverse distance ladder formed from BOSS baryon acoustic oscillation measurements and the Pantheon SN sample yields an $H_0$ posterior near-identical to the Planck CMB measurement. The observed local distance ladder value is a very unlikely draw from the resulting PPD. Turning to the future, we find that a sample of $\sim50$ binary neutron star "standard sirens" (detectable within the next decade) will be able to adjudicate between the local and CMB estimates

Polysubstance use in cannabis users referred for treatment: Drug use profiles, psychiatric comorbidity and cannabis-related beliefs

Background: Population-based surveys demonstrate cannabis users are more likely to use both illicit and licit substances, compared with non-cannabis users. Few studies have examined the substance use profiles of cannabis users referred for treatment. Co-existing mental health symptoms and underlying cannabis-related beliefs associated with these profiles remains unexplored. Methods: Comprehensive drug use and dependence severity (Severity of Dependence Scale-Cannabis) data were collected on a sample of 826 cannabis users referred for treatment. Patients completed the General Health Questionnaire, Cannabis Expectancy Questionnaire, Cannabis Refusal Self-Efficacy Questionnaire, and Positive Symptoms and Manic-Excitement subscales of the Brief Psychiatric Rating Scale. Latent class analysis was performed on last month use of drugs to identify patterns of multiple drug use. Mental health comorbidity and cannabis beliefs were examined by identified drug use pattern. Results: A three-class solution provided the best fit to the data: (1) cannabis and tobacco users (n = 176), (2) cannabis, tobacco, and alcohol users (n = 498), and (3) wide-ranging substance users (n = 132). Wide-ranging substance users (3) reported higher levels of cannabis dependence severity, negative cannabis expectancies, lower opportunistic, and emotional relief self-efficacy, higher levels of depression and anxiety and higher manic-excitement and positive psychotic symptoms. Conclusion: In a sample of cannabis users referred for treatment, wide-ranging substance use was associated with elevated risk on measures of cannabis dependence, co-morbid psychopathology, and dysfunctional cannabis cognitions. These findings have implications for cognitive-behavioral assessment and treatment