389 research outputs found

    Numerical methods for Lévy processes

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    We survey the use and limitations of some numerical methods for pricing derivative contracts in multidimensional geometric Lévy model

    Housing in Europe: a different continent - a continent of differences

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    This article provides the introduction to the special issue on ‘Housing in Europe: a different continent – a continent of differences’ in the Journal of Housing Economics in 2018. Europe is a large continent with a long and rich history, consisting of around 50 countries with vastly different institutional settings and government policies for housing and an abundance of quasi-natural experiments. Some countries have remarkably rich public data and some institutions and policy assumptions are all but the opposite of those familiar to US institutions. In this introduction we briefly outline the seven papers of this issue that exploit in one way or another this extraordinary richness for research. Each paper provides novel insights and has important implications. Collectively, they illustrate the potential opportunities for new and exciting research on housing in Europe

    Land use regulation and productivity – land matters: evidence from a UK supermarket chain

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    We use unique store-specific data for a major UK supermarket chain to estimate the impact of planning, which restricts both the size and location of stores, on Store output. Using the quasi-natural experiment of the variation in planning policies between England and other UK countries and a difference-in-difference approach, we isolate the impact of Town Centre First (TCF) policies. We find that space contributes directly to the productivity of stores and planning policies in England directly reduce output both by reducing store sizes and forcing stores onto less productive sites. Our results suggest that since the late 1980s planning policies have imposed a loss of total output of at least 18.3 to 24.9%. This is equivalent to more than a ‘lost decade’ of output growth in a major sector generated directly by government policy

    (IN)Convenient Stores? What do policies pushing stores to town centres actually do?

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    England´s Town Centre First Policy, introduced in 1996, restricted the opening of new retail and other ‘traditional town centre activities’ to ‘Town Centre’ (TC) locations. The aim was to halt the decay of high streets. We explore the impact of the policy on the supply and location of grocery shops and patterns of shopping by comparing English with Scottish TCs before and after the policy change in England. Using store level census data, we show first that supply trends for grocery stores in TCs were similar in both countries prior to the implementation of the policy. After the policy took effect, however, stores in TCs increased relatively more strongly in England, but with no change in grocery employment. Second, using survey data, we show that the policy changed the composition of shops in TCs in favour of convenience-type shops supplied by the “big four” grocery chains. However, although it increased the number of TC shops, the policy had no effect on the number of shoppers choosing TC locations

    A Finite Element Computation of the Gravitational Radiation emitted by a Point-like object orbiting a Non-rotating Black Hole

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    The description of extreme-mass-ratio binary systems in the inspiral phase is a challenging problem in gravitational wave physics with significant relevance for the space interferometer LISA. The main difficulty lies in the evaluation of the effects of the small body's gravitational field on itself. To that end, an accurate computation of the perturbations produced by the small body with respect the background geometry of the large object, a massive black hole, is required. In this paper we present a new computational approach based on Finite Element Methods to solve the master equations describing perturbations of non-rotating black holes due to an orbiting point-like object. The numerical computations are carried out in the time domain by using evolution algorithms for wave-type equations. We show the accuracy of the method by comparing our calculations with previous results in the literature. Finally, we discuss the relevance of this method for achieving accurate descriptions of extreme-mass-ratio binaries.Comment: RevTeX 4. 18 pages, 8 figure

    Intravaginal Practices, Vaginal Infections and HIV Acquisition: Systematic Review and Meta-Analysis

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    BACKGROUND: Intravaginal practices are commonly used by women to manage their vaginal health and sexual life. These practices could, however, affect intravaginal mucosal integrity. The objectives of this study were to examine evidence for associations between: intravaginal practices and acquisition of HIV infection; intravaginal practices and vaginal infections; and vaginal infections and HIV acquisition. METHODOLOGY/PRINCIPAL FINDINGS: We conducted a systematic review of prospective longitudinal studies, searching 15 electronic databases of journals and abstracts from two international conferences to 31(st) January 2008. Relevant articles were selected and data extracted in duplicate. Results were examined visually in forest plots and combined using random effects meta-analysis where appropriate. Of 2120 unique references we included 22 publications from 15 different studies in sub-Saharan Africa and the USA. Seven publications from five studies examined a range of intravaginal practices and HIV infection. No specific vaginal practices showed a protective effect against HIV or vaginal infections. Insertion of products for sex was associated with HIV in unadjusted analyses; only one study gave an adjusted estimate, which showed no association (hazard ratio 1.09, 95% confidence interval, CI 0.71, 1.67). HIV incidence was higher in women reporting intravaginal cleansing but confidence intervals were wide and heterogeneity high (adjusted hazard ratio 1.88, 95%CI 0.53, 6.69, I(2) 83.2%). HIV incidence was higher in women with bacterial vaginosis (adjusted effect 1.57, 95%CI 1.26, 1.94, I(2) 19.0%) and Trichomonas vaginalis (adjusted effect 1.64, 95%CI 1.28, 2.09, I(2) 0.0%). CONCLUSIONS/SIGNIFICANCE: A pathway linking intravaginal cleaning practices with vaginal infections that increase susceptibility to HIV infection is plausible but conclusive evidence is lacking. Intravaginal practices do not appear to protect women from vaginal infections or HIV and some might be harmful

    Presenting a comprehensive multi-scale evaluation framework for participatory modelling programs: a scoping review

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    INTRODUCTION: Systems modelling and simulation can improve understanding of complex systems to support decision making, better managing system challenges. Advances in technology have facilitated accessibility of modelling by diverse stakeholders, allowing them to engage with and contribute to the development of systems models (participatory modelling). However, despite its increasing applications across a range of disciplines, there is a growing need to improve evaluation efforts to effectively report on the quality, importance, and value of participatory modelling. This paper aims to identify and assess evaluation frameworks, criteria, and/or processes, as well as to synthesize the findings into a comprehensive multi-scale framework for participatory modelling programs. MATERIALS AND METHODS: A scoping review approach was utilized, which involved a systematic literature search via Scopus in consultation with experts to identify and appraise records that described an evaluation framework, criteria, and/or process in the context of participatory modelling. This scoping review is registered with the Open Science Framework. RESULTS: The review identified 11 studies, which varied in evaluation purposes, terminologies, levels of examination, and time points. The review of studies highlighted areas of overlap and opportunities for further development, which prompted the development of a comprehensive multi-scale evaluation framework to assess participatory modelling programs across disciplines and systems modelling methods. The framework consists of four categories (Feasibility, Value, Change/Action, Sustainability) with 30 evaluation criteria, broken down across project-, individual-, group- and system-level impacts. DISCUSSION & CONCLUSION: The presented novel framework brings together a significant knowledge base into a flexible, cross-sectoral evaluation effort that considers the whole participatory modelling process. Developed through the rigorous synthesis of multidisciplinary expertise from existing studies, the application of the framework can provide the opportunity to understand practical future implications such as which aspects are particularly important for policy decisions, community learning, and the ongoing improvement of participatory modelling methods

    Evaluating the effects of planning policies on the retail sector: or do town centre first policies deliver the goods

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    Acknowledgements This paper represents work in progress and is still a preliminary draft. We would like to acknowledge the funding provided to SERC by ESRC, DCLG, BIS and the Welsh Assembly. We have benefited greatly from discussions with many colleagues and professional contacts: we would particularly like to mentio
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