Equilibrium price of immediacy and infrequent trade

The paper studies the equilibrium value of bid-ask spreads and time- to-trade in a continuous-time, intermediated fi?nancial market. The en- dogenous spreads are the price at which brokers are willing to offer imme- diacy. They include physical trading costs. Traders intervene optimally, when the portfolio mix reaches endogenously determined barriers. Spreads and times between successive trades are increasing with the difference in agents risk attitudes. They react asymmetrically to an increase in the difference of risk aversions, while they are symmetric in trading costs. We detect a bias towards cash. Optimal trade is drastically reduced when costs increase, so as to preserve the investors welfare. Random switches to a competitive market, to be interpreted as outside options, drastically reduce bid-ask fees.equilibrium with dealers; equilibrium with bid-ask spreads; endogenous bid-ask; dynamic market making

a critical look into stapedotomy learning curve influence of patient characteristics and different criteria defining success

Purpose: To evaluate stapedotomy learning curve with cumulative summation methodology using different success criteria (ie, air-bone gap [ABG] ≤10 dB, ABG ≤15 dB, restoration of interaural symmetry, or hearing threshold gain >20 dB), and to assess patient characteristics influencing or modifying the learning curve. Methods: Retrospective chart review of primary and revision stapedotomy cases performed by surgeon 1 (S1, n = 78) and surgeon 2 (S2, n = 85). Results: Using the classic criterion for a successful stapedotomy (ABG ≤10 dB), patients with preoperative ABG >34 dB were associated with unsuccessful procedures (S1 P = .02; S2 P = .07). Revision surgery was associated with unsuccessful outcomes (S1 P = .005; S2 P = .0012). Cumulative summation plots using different criteria did not show a linear trend of association between stapedotomy success and number of operations, but preoperative characteristics of the patients who underwent stapedotomy significantly influenced the plots. Cumulative summation plots showed an initial increasing tendency with improving results, but when ear surgeons got more skilled, they operated on more complex cases (ie, patients with higher preoperative ABG or revision stapedotomy) and they could not meet the success criteria. Conclusions: Cumulative summation plots do not seem useful to evaluate the stapedotomy learning curve, as they do not correctly deal with heterogeneous case series. The increasing complexity of the stapedotomy patients during the surgeons' career impacts on the outcome of stapedotomy and confounds the evaluation of the growing skills of the surgeon. Stapedotomy audiological success rates are strongly influenced by the success criteria used

Anti-Tumor Activity of a miR-199-dependent Oncolytic Adenovirus

Peer reviewe

Transtornos psiquiátricos prevalentes na infância: lidando com desafios comportamentais.

Objective: This study aims to synthesize the evidence on psychiatric disorders in childhood, identifying intervention strategies. The aim is to offer a comprehensive view to guide clinical practices and promote understanding of these conditions. Methodology: The careful selection of the integrative review through critical reading and comprehensive analysis of articles aims to synthesize evidence on psychiatric disorders in childhood and intervention strategies, contributing to a practical understanding of these conditions, through the health descriptors: “Psychiatric Disorders”, “Behavioral Disorders”, “Child Psychiatry”. Results: The comparative analysis of psychiatric disorders in childhood reveals patterns and differences in therapeutic approaches, covering conditions such as ADHD, ASD, GAD and OCD. The coexistence of multiple disorders amplifies the complexity of treatment, requiring an integrated approach. Practitioners face the challenge of personalizing interventions, emphasizing the need for collaboration and adaptation in the holistic management of conditions. Conclusion: In conclusion, understanding the therapeutic nuances and challenges associated with co-existing childhood psychiatric disorders highlights the importance of personalized approaches and interdisciplinary collaboration to optimize treatment and improve children's well-being. The flexibility and adaptability of professionals are fundamental to face the complexity of these conditions.Objetivo: Este estudo visa sintetizar as evidências sobre transtornos psiquiátricos na infância, identificando estratégias de intervenção. Busca-se oferecer uma visão abrangente para orientar práticas clínicas e promover o entendimento dessas condições. Metodologia: A seleção criteriosa da revisão integrativa por meio da leitura crítica e análise abrangente de artigos visam sintetizar evidências sobre transtornos psiquiátricos na infância e estratégias de intervenção, contribuindo para uma compreensão prática dessas condições, através dos descritores de saúde: “Transtornos Psiquiátricos”, “Transtornos de Comportamento”, “Psiquiatria Infantil”. Resultados: A análise comparativa de transtornos psiquiátricos na infância revela padrões e diferenças nas abordagens terapêuticas, abrangendo condições como TDAH, TEA, TAG e TOC. A coexistência de múltiplos transtornos amplifica a complexidade do tratamento, exigindo uma abordagem integrada. Profissionais enfrentam o desafio de personalizar intervenções, enfatizando a necessidade de colaboração e adaptação na gestão holística das condições. Conclusão: Em conclusão, a compreensão das nuances terapêuticas e desafios associados à coexistência de transtornos psiquiátricos na infância destaca a importância de abordagens personalizadas e da colaboração interdisciplinar para otimizar o tratamento e melhorar o bem-estar das crianças. A flexibilidade e adaptabilidade dos profissionais são fundamentais para enfrentar a complexidade dessas condições

Optimasi Portofolio Resiko Menggunakan Model Markowitz MVO Dikaitkan dengan Keterbatasan Manusia dalam Memprediksi Masa Depan dalam Perspektif Al-Qur`an

Risk portfolio on modern finance has become increasingly technical, requiring the use of sophisticated mathematical tools in both research and practice. Since companies cannot insure themselves completely against risk, as human incompetence in predicting the future precisely that written in Al-Quran surah Luqman verse 34, they have to manage it to yield an optimal portfolio. The objective here is to minimize the variance among all portfolios, or alternatively, to maximize expected return among all portfolios that has at least a certain expected return. Furthermore, this study focuses on optimizing risk portfolio so called Markowitz MVO (Mean-Variance Optimization). Some theoretical frameworks for analysis are arithmetic mean, geometric mean, variance, covariance, linear programming, and quadratic programming. Moreover, finding a minimum variance portfolio produces a convex quadratic programming, that is minimizing the objective function ðð¥with constraintsð ð 𥠥 ðandð´ð¥ = ð. The outcome of this research is the solution of optimal risk portofolio in some investments that could be finished smoothly using MATLAB R2007b software together with its graphic analysis

Differential cross section measurements for the production of a W boson in association with jets in proton–proton collisions at √s = 7 TeV

Measurements are reported of differential cross sections for the production of a W boson, which decays into a muon and a neutrino, in association with jets, as a function of several variables, including the transverse momenta (pT) and pseudorapidities of the four leading jets, the scalar sum of jet transverse momenta (HT), and the difference in azimuthal angle between the directions of each jet and the muon. The data sample of pp collisions at a centre-of-mass energy of 7 TeV was collected with the CMS detector at the LHC and corresponds to an integrated luminosity of 5.0 fb[superscript −1]. The measured cross sections are compared to predictions from Monte Carlo generators, MadGraph + pythia and sherpa, and to next-to-leading-order calculations from BlackHat + sherpa. The differential cross sections are found to be in agreement with the predictions, apart from the pT distributions of the leading jets at high pT values, the distributions of the HT at high-HT and low jet multiplicity, and the distribution of the difference in azimuthal angle between the leading jet and the muon at low values.United States. Dept. of EnergyNational Science Foundation (U.S.)Alfred P. Sloan Foundatio

Penilaian Kinerja Keuangan Koperasi di Kabupaten Pelalawan

This paper describe development and financial performance of cooperative in District Pelalawan among 2007 - 2008. Studies on primary and secondary cooperative in 12 sub-districts. Method in this stady use performance measuring of productivity, efficiency, growth, liquidity, and solvability of cooperative. Productivity of cooperative in Pelalawan was highly but efficiency still low. Profit and income were highly, even liquidity of cooperative very high, and solvability was good

Juxtaposing BTE and ATE – on the role of the European insurance industry in funding civil litigation

One of the ways in which legal services are financed, and indeed shaped, is through private insurance arrangement. Two contrasting types of legal expenses insurance contracts (LEI) seem to dominate in Europe: before the event (BTE) and after the event (ATE) legal expenses insurance. Notwithstanding institutional differences between different legal systems, BTE and ATE insurance arrangements may be instrumental if government policy is geared towards strengthening a market-oriented system of financing access to justice for individuals and business. At the same time, emphasizing the role of a private industry as a keeper of the gates to justice raises issues of accountability and transparency, not readily reconcilable with demands of competition. Moreover, multiple actors (clients, lawyers, courts, insurers) are involved, causing behavioural dynamics which are not easily predicted or influenced. Against this background, this paper looks into BTE and ATE arrangements by analysing the particularities of BTE and ATE arrangements currently available in some European jurisdictions and by painting a picture of their respective markets and legal contexts. This allows for some reflection on the performance of BTE and ATE providers as both financiers and keepers. Two issues emerge from the analysis that are worthy of some further reflection. Firstly, there is the problematic long-term sustainability of some ATE products. Secondly, the challenges faced by policymakers that would like to nudge consumers into voluntarily taking out BTE LEI

Search for stop and higgsino production using diphoton Higgs boson decays

Results are presented of a search for a "natural" supersymmetry scenario with gauge mediated symmetry breaking. It is assumed that only the supersymmetric partners of the top-quark (stop) and the Higgs boson (higgsino) are accessible. Events are examined in which there are two photons forming a Higgs boson candidate, and at least two b-quark jets. In 19.7 inverse femtobarns of proton-proton collision data at sqrt(s) = 8 TeV, recorded in the CMS experiment, no evidence of a signal is found and lower limits at the 95% confidence level are set, excluding the stop mass below 360 to 410 GeV, depending on the higgsino mass