Perverse cross-subsidization in the credit market

We show how asymmetric information and borrowers' heterogeneity in wealth may produce equilibria in which, due to decreasing absolute risk aversion, hard working poor borrowers subsidize richer borrowers. In particular, a model of adverse selection and moral hazard in a competitive credit market is developed with private information on borrowers' wealth. Because of the ambiguous effect of decreasing risk aversion on the willingness to post collateral, both separating and pooling equilibria are possible in principle. Under separation the poor borrowers bear the cost of separation in terms of excessive risk taking. In a more likely pooling equilibrium poor hard-working borrowers subsidize richer ones

Ruptures and repairs of group therapy alliance. an untold story in psychotherapy research

Although previous studies investigated the characteristics of therapeutic alliance in group treatments, there is still a dearth of research on group alliance ruptures and repairs. The model by Safran and Muran was originally developed to address therapeutic alliance in individual therapies, and the usefulness of this approach to group intervention needs to be demonstrated. Alliance ruptures are possible at member to therapist, member to member, member to group levels. Moreover, repairs of ruptures in group are quite complex, i.e., because other group members have to process the rupture even if not directly involved. The aim of the current study is to review the empirical research on group alliance, and to examine whether the rupture repair model can be a suitable framework for clinical understanding and research of the complexity of therapeutic alliance in group treatments. We provide clinical vignettes and commentary to illustrate theoretical and research aspects of therapeutic alliance rupture and repair in groups. Our colleague Jeremy Safran made a substantial contribution to research on therapeutic alliance, and the current paper illustrates the enduring legacy of this work and its potential application to the group therapy context

Adaptive Mesh Refinement for Hyperbolic Systems based on Third-Order Compact WENO Reconstruction

In this paper we generalize to non-uniform grids of quad-tree type the Compact WENO reconstruction of Levy, Puppo and Russo (SIAM J. Sci. Comput., 2001), thus obtaining a truly two-dimensional non-oscillatory third order reconstruction with a very compact stencil and that does not involve mesh-dependent coefficients. This latter characteristic is quite valuable for its use in h-adaptive numerical schemes, since in such schemes the coefficients that depend on the disposition and sizes of the neighboring cells (and that are present in many existing WENO-like reconstructions) would need to be recomputed after every mesh adaption. In the second part of the paper we propose a third order h-adaptive scheme with the above-mentioned reconstruction, an explicit third order TVD Runge-Kutta scheme and the entropy production error indicator proposed by Puppo and Semplice (Commun. Comput. Phys., 2011). After devising some heuristics on the choice of the parameters controlling the mesh adaption, we demonstrate with many numerical tests that the scheme can compute numerical solution whose error decays as $\langle N\rangle^{-3}$, where $\langle N\rangle$ is the average number of cells used during the computation, even in the presence of shock waves, by making a very effective use of h-adaptivity and the proposed third order reconstruction.Comment: many updates to text and figure

The use of imaging systems to monitor shoreline dynamics

The development of imaging systems is nowadays established as one of the most powerful and reliable tools for monitoring beach morphodynamics. Two different techniques for shoreline detection are presented here and, in one case, applied to the study of beach width oscillations on a sandy beach (Pauanui Beach, New Zealand). Results indicate that images can provide datasets whose length and sample interval are accurate enough to resolve inter-annual and seasonal oscillations, and long-term trends. Similarly, imaging systems can be extremely useful in determining the statistics of rip current occurrence. Further improvements in accuracy and reliability are expected with the recent introduction of digital systems

Detecting nonlinearity in run-up on a natural beach

International audienceNatural geophysical timeseries bear the signature of a number of complex, possibly inseparable, and generally unknown combination of linear, stable non-linear and chaotic processes. Quantifying the relative contribution of, in particular, the non-linear components will allow improved modelling and prediction of natural systems, or at least define some limitations on predictability. However, difficulties arise; for example, in cases where the series are naturally cyclic (e.g. water waves), it is most unclear how this cyclic behaviour impacts on the techniques commonly used to detect the nonlinear behaviour in other fields. Here a non-linear autoregressive forecasting technique which has had success in demonstrating nonlinearity in non-cyclical geophysical timeseries, is applied to a timeseries generated by videoing the waterline on a natural beach (run-up), which has some irregular oscillatory behaviour that is in part induced by the incoming wave field. In such cases, the deterministic shape of each run-up cycle has a strong influence on forecasting results, causing questionable results at small (within a cycle) prediction distances. However, the technique can clearly differentiate between random surrogate series and natural timeseries at larger prediction distances (greater than one cycle). Therefore it was possible to clearly identify nonlinearity in the relationship between observed run-up cycles in that a local autoregressive model was more adept at predicting run-up cycles than a global one. Results suggest that despite forcing from waves impacting on the beach, each run-up cycle evolves somewhat independently, depending on a non-linear interaction with previous run-up cycles. More generally, a key outcome of the study is that oscillatory data provide a similar challenge to differentiating chaotic signals from correlated noise in that the deterministic shape causes an additional source of autocorrelation which in turn influences the predictability at small forecasting distances

Imatinib-mesylate for all patients with hypereosinophilic syndrome?

Some recent papers have focused on the activity of imatinib-mesylate, a selective inhibitor of tyrosine kinase, in idiopathic hypereosinophilic syndrome (HES) [1], [2], [3] and [4]. In this setting, a possible therapeutic target was identified by Cools et al. [2], who described the fusion tyrosine-kinase gene FIP1L1/PDGFRA as the result of an interstitial deletion within chromosome 4 in nine out of sixteen (56%) patients affected by HES. Of interest, although in this study the response to imatinib was strictly correlated with the presence of FIP1L1/PDGFRA rearrangement (all patients with such a molecular lesion treated with imatinib responded), only five out of nine responding patients evidenced the abnormal transcript [2]. Among the possible alternative mechanisms for the activation of the PDGFRA tyrosine-kinase domain, these authors suggested there may be a different fusion gene

Magic mirror on the wall: Selfie-related behavior as mediator of the relationship between narcissism and problematic smartphone use

Objective: Recent research has suggested that problematic smartphone use is associated with several psychological factors and that mobile apps and smartphone-related behavior (i.e. selfi e behavior) may encourage the development of problematic smartphone use. However, little is known about how the interplay between dysfunctional personality characteristics and selfi e-related behavior can infl uence problematic smartphone use. The aim of this study was to examine the relationship between narcissism and problematic smartphone use, as well as the mediating role of selfi e-related behavior in this relationship among young men and women. Method: In the current study, a total of 627 undergraduate students (283 males and 344 females) completed a cross-sectional survey. A structural equation model was tested separately for males and females in order to evaluate the associations between narcissism, selfi e-related behavior and problematic smartphone use. Results: The results showed that greater narcissism was related to increased selfi e-related behavior, which in turn were positively associated with problematic smartphone use both for males and females. However, selfi e-related behavior mediated the relationship between narcissism and problematic smartphone use only for females. Conclusions: The study provides fresh insight into our understanding of the psychological mechanisms underlying problematic smartphone use, which may inform prevention and treatment interventions

Self-organization mechanisms for the formation on nearshore crescentic and transverse sand bars

The formation and development of transverse and crescentic sand bars in the coastal marine environment has been investigated by means of a nonlinear numerical model based on the shallow-water equations and on a simpli ed sediment transport parameterization. By assuming normally approaching waves and a saturated surf zone, rhythmic patterns develop from a planar slope where random perturbations of small amplitude have been superimposed. Two types of bedforms appear: one is a crescentic bar pattern centred around the breakpoint and the other, herein modelled for the rst time, is a transverse bar pattern. The feedback mechanism related to the formation and development of the patterns can be explained by coupling the water and sediment conservation equations. Basically, the waves stir up the sediment and keep it in suspension with a certain cross-shore distribution of depth-averaged concentration. Then, a current flowing with (against) the gradient of sediment concentration produces erosion (deposition). It is shown that inside the surf zone, these currents may occur due to the wave refraction and to the redistribution of wave breaking produced by the growing bedforms. Numerical simulations have been performed in order to understand the sensitivity of the pattern formation to the parameterization and to relate the hydro-morphodynamic input conditions to which of the patterns develops. It is suggested that crescentic bar growth would be favoured by high-energy conditions and ne sediment while transverse bars would grow for milder waves and coarser sediment. In intermediate conditions mixed patterns may occur

Short-range correlations in low-lying nuclear excited states

The electromagnetic transitions to various low-lying excited states of 16O, 48Ca and 208Pb are calculated within a model which considers the short-range correlations. In general the effects of the correlations are small and do not explain the required quenching to describe the data.Comment: 6 pages, 2 postscript figures, 1 tabl