Home Equity Insurance & The Demise Of Home Value Insurance Corporation

This study uses the demise of the Home Value Insurance Company (HVIC) to explore whether the concept of home equity insurance is implementable. Shiller, R. and Weiss, A. (1999) and Goetzmann, W., Caplin, A., Hangen, E., Nalebuff, B., Prentce, E., Rodkin, J., Spiegel, M. and Skinner, T. (2003) have provided a platform to evaluate this concept by questioning whether a product that allows homeowners to transfer the risk associated with a decline in housing prices should be structured as insurance. This study explores the cost associated, in the U.S. Real Estate Market, with this risk transfer process in the pre and post mortgage crisis periods by simulating the cost of insurance using the theoretical pricing of ATM (at the money) put options based upon the Black Scholes Option Pricing Model from 1989 to 2013. As the U.S. Housing Market transitioned from the pre-crisis to the post-crisis periods the hypothetical breakeven cost of insurance increased from 0.60% to 20.85% of the starting value of the index. The demise of HVIC seems to be a cautionary tale: Given the recent changes in the underlying dynamics of the U.S. Real Estate Market it does not seem prudent (for insurers) to use insurance contracts to transfer the risk associated with a decline in the value of U.S. Residential Equity Wealth

The energetics and mass structure of regions of star formation: S201

Theoretical predictions about dust and gas in star forming regions are tested by observing a 4 arcmin region surrounding the radio continuum source in 5201. The object was mapped in two far infrared wavelengths and found to show significant extended emission. Under the assumption that the molecular gas is heated solely via thermal coupling with the dust, the volume density was mapped in 5201. The ratios of infrared optical depth to CO column density were calculated for a number of positions in the source. Near the center of the cloud the values are found to be in good agreement with other determinations for regions with lower column density. In addition, the observations suggest significant molecular destruction in the outer parts of the object. Current models of gas heating were used to calculate a strong limit for the radius of the far infrared emitting grains, equal to or less than 0.15 micron. Grains of about this size are required by the observation of high temperature (T equal to or greater than 20 K) gas in many sources

Feeling good about being hungry: food-related thoughts in eating disorder

Objectives: This study explores the relationships to food and hunger in women living with anorexic type eating difficulties and asks how imagery-based elaborations of food and eating thoughts are involved in their eating restraint, and recovery. Design: The qualitative idiographic approach of Interpretative Phenomenological Analysis (IPA) was used. Four in-depth semi-structured interviews were conducted with women self-selected as having experienced anorexia or anorexic like behaviour. Methods: The data was analysed using IPA and an audit of the analysis was conducted to ensure that the process followed had been systematic and rigorous and appropriately considered reflexivity. Results: Hunger was perceived positively by participants as confirmation that they were achieving their goal of losing weight, or avoiding weight gain. Hunger conferred a sense of being in control for the participants. Intrusive thoughts about food were reported as being quickly followed by elaborative mental imagery of the positive aspects of weight loss, and the negative consequences of eating. Imagery appeared to serve to maintain anorexic behaviours rather than to motivate food seeking. However, negative imagery of the consequences of anorexia were also described as supporting recovery. Conclusions: The finding that physiological sensations of hunger were experienced as positive confirmation of maintaining control has potentially important clinical and theoretical implications. It suggests further attention needs to be focused upon how changes in cognitive elaboration, involving mental imagery, are components of the psychological changes in the development of, maintenance of, and recovery from, anorexia

CARMA CO(J = 2 - 1) Observations of the Circumstellar Envelope of Betelgeuse

We report radio interferometric observations of the 12C16O 1.3 mm J = 2-1 emission line in the circumstellar envelope of the M supergiant Alpha Ori and have detected and separated both the S1 and S2 flow components for the first time. Observations were made with the Combined Array for Research in Millimeter-wave Astronomy (CARMA) interferometer in the C, D, and E antenna configurations. We obtain good u-v coverage (5-280 klambda) by combining data from all three configurations allowing us to trace spatial scales as small as 0.9\arcsec over a 32\arcsec field of view. The high spectral and spatial resolution C configuration line profile shows that the inner S1 flow has slightly asymmetric outflow velocities ranging from -9.0 km s-1 to +10.6 km s-1 with respect to the stellar rest frame. We find little evidence for the outer S2 flow in this configuration because the majority of this emission has been spatially-filtered (resolved out) by the array. We also report a SOFIA-GREAT CO(J= 12-11) emission line profile which we associate with this inner higher excitation S1 flow. The outer S2 flow appears in the D and E configuration maps and its outflow velocity is found to be in good agreement with high resolution optical spectroscopy of K I obtained at the McDonald Observatory. We image both S1 and S2 in the multi-configuration maps and see a gradual change in the angular size of the emission in the high absolute velocity maps. We assign an outer radius of 4\arcsec to S1 and propose that S2 extends beyond CARMA's field of view (32\arcsec at 1.3 mm) out to a radius of 17\arcsec which is larger than recent single-dish observations have indicated. When azimuthally averaged, the intensity fall-off for both flows is found to be proportional to R^{-1}, where R is the projected radius, indicating optically thin winds with \rho \propto R^{-2}.Comment: 11 pages, 8 figures To be published in the Astronomical Journal (Received 2012 February 10; accepted 2012 May 25

Far infrared maps of the ridge between OMC-1 and OMC-2

Dust continuum emission from a 6 ft x 20 ft region surrounding OMC-1 and OMC-2 were mapped at 55 and 125 microns with 4 ft resolution. The dominant features of the maps are a strong peak at OMC-1 and a ridge of lower surface brightness between OMC-1 and OMC-2. Along the ridge the infrared flux densities and the color temperature decreases smoothly from OMC-1 to OMC-2. OMC-1 is heated primarily by several optical and infrared stars situated within or just at the boundary of the cloud. At the region of minimum column density between OMC-1 and OMC-2 the nearby B0.5 V star NU Ori may contribute significantly to the dust heating. Near OMC-2 dust column densities are large enough so that, in addition to the OMC-2 infrared cluster, the nonlocal infrared sources associated with OMC-1 and NU Ori can contribute to the heating

NGC 2024: Far-infrared and radio molecular observations

Far infrared continuum and millimeter wave molecular observations are presented for the infrared and radio source NGC 2024. The measurements are obtained at relatively high angular resolution, enabling a description of the source energetics and mass distribution in greater detail than previously reported. The object appears to be dominated by a dense ridge of material, extended in the north/south direction and centered on the dark lane that is seen in visual photographs. Maps of the source using the high density molecules CS and HCN confirm this picture and allow a description of the core structure and molecular abundances. The radio molecular and infrared observations support the idea that an important exciting star in NGC 2024 has yet to be identified and is centered on the dense ridge about 1' south of the bright mid infrared source IRS 2. The data presented here allows a presentation of a model for the source

Ariel - Volume 7 Number 2

Editors Mark Dembert Frank Chervanek John Lammie Jim Burke Curt Cumming

Imaging the dynamical atmosphere of the red supergiant Betelgeuse in the CO first overtone lines with VLTI/AMBER

We present the first 1-D aperture synthesis imaging of the red supergiant Betelgeuse in the individual CO first overtone lines with VLTI/AMBER. The reconstructed 1-D projection images reveal that the star appears differently in the blue wing, line center, and red wing of the individual CO lines. The 1-D projection images in the blue wing and line center show a pronounced, asymmetrically extended component up to ~1.3 stellar radii, while those in the red wing do not show such a component. The observed 1-D projection images in the lines can be reasonably explained by a model in which the CO gas within a region more than half as large as the stellar size is moving slightly outward with 0--5 km s^-1, while the gas in the remaining region is infalling fast with 20--30 km s^-1. A comparison between the CO line AMBER data taken in 2008 and 2009 shows a significant time variation in the dynamics of the CO line-forming region in the photosphere and the outer atmosphere. In contrast to the line data, the reconstructed 1-D projection images in the continuum show only a slight deviation from a uniform disk or limb-darkened disk. We derive a uniform-disk diameter of 42.05 +/- 0.05 mas and a power-law-type limb-darkened disk diameter of 42.49 +/- 0.06 mas and a limb-darkening parameter of (9.7 +/- 0.5) x 10^{-2}. This latter angular diameter leads to an effective temperature of 3690 +/- 54 K for the continuum-forming layer. These diameters confirm that the near-IR size of Betelgeuse was nearly constant over the last 18 years, in marked contrast to the recently reported noticeable decrease in the mid-IR size. The continuum data taken in 2008 and 2009 reveal no or only marginal time variations, much smaller than the maximum variation predicted by the current 3-D convection simulations.Comment: 21 pages, 12 figures, accepted for publication in Astronomy and Astrophysic

Confirmation of the genetic association of CTLA4 and PTPN22 with ANCA-associated vasculitis.

BACKGROUND: The genetic contribution to the aetiology of anti-neutrophil cytoplasmic antibody (ANCA)-associated vasculitis (AAV) is not well defined. Across different autoimmune diseases some genes with immunomodulatory roles, such as PTPN22, are frequently associated with multiple diseases, whereas specific HLA associations, such as HLA-B27, tend to be disease restricted. We studied ten candidate loci on the basis of their immunoregulatory role and prior associations with type 1 diabetes (T1D). These included PTPN22, CTLA4 and CD226, which have previously been associated with AAV. METHODS: We genotyped the following 11 SNPs, from 10 loci, in 641 AAV patients using TaqMan genotyping: rs2476601 in PTPN22, rs1990760 in IFIH1, rs3087243 in CTLA4, rs2069763 in IL2, rs10877012 in CYP27B1, rs2292239 in ERBB3, rs3184504 in SH2B3, rs12708716 in CLEC16A, rs1893217 and rs478582 in PTPN2 and rs763361 in CD226. Where possible, we performed a meta-analysis with previous analyses. RESULTS: Both CTLA4 rs3087243 and PTPN22 rs2476601 showed association with AAV, P = 6.4 x 10-3 and P = 1.4 x 10-4 respectively. The minor allele (A) of CTLA4 rs3087243 is protective (odds ratio = 0.84), whereas the minor allele (A) of PTPN22 rs2476601 confers susceptibility (odds ratio = 1.40). These results confirmed previously described associations with AAV. After meta-analysis, the PTPN22 rs2476601 association was further strengthened (combined P = 4.2 x 10-7, odds ratio of 1.48 for the A allele). The other 9 SNPs, including rs763361 in CD226, showed no association with AAV. CONCLUSION: Our study of T1D associated SNPs in AAV has confirmed CTLA4 and PTPN22 as susceptibility loci in AAV. These genes encode two key regulators of the immune response and are associated with many autoimmune diseases, including T1D, autoimmune thyroid disease, celiac disease, rheumatoid arthritis, and now AAV