Trends in Competition and Profitability in the Banking Industry: A Basic Framework

This paper brings to the forefront the assumptions that we make when focusing on a particular type of explanation for bank profitability. We evaluate a broad field of research by introducing a general framework for a profit maximizing bank and demonstrate how different types of models can be fitted into this framework. Next, we present an overview of the current major trends in European banking and relate them to each model’s assumptions, thereby shedding light on the relevance, timeliness and shelf life of the different models. This way, we arrive at a set of recommendations for a future research agenda. We advocate a more prominent role for output prices, and suggest a modification of the intermediation approach. We also suggest ways to more clearly distinguish between market power and efficiency, and explain why we need time-dependent models. Finally, we propose the application of existing models to different size classes and sub-markets. Throughout we emphasize the benefits from applying several, complementary models to overcome the identification problems that we observe in individual models.

Carbohydrates in the North Sea during spring blooms of <i>Phaeocystis</i>: a specific fingerprint

Regional and temporal variation in the composition of water-soluble carbohydrates from Phaeocystis colonies sampled in the southern North Sea was small during spring 1994, except for a high variability in the contribution of glucose. Glucose is universally present in storage products of microalgae; the relative constancy of the carbohydrate pattern of the other monosaccharides suggests that these are part of the more refractory colony mucus. In all Phaeocystis samples arabinose dominated, followed by xylose (Belgian coast) or galactose and mannose (Dutch coast). Rhamnose, glucuronate and O-methylated sugars were present in lower amounts. The latter, always present in samples containing Phaeocystis, may be typical for North Sea strains. The sugar patterns we report here differ from those presented in the literature concerning Phaeocystis-derived material, and also from the sugar fingerprint in the preceding diatom bloom. The Phaeocystis mucus apparently behaves as particulate matter since it was retained on filters of over 1 um. This characteristic together with its refractory nature, typical of 'transparent exopolymer particles' (TEPs), must have consequences for the heterotrophic microbial community in terms of adherence and substrate availability

Scaling function and universal amplitude combinations for self-avoiding polygons

We analyze new data for self-avoiding polygons, on the square and triangular lattices, enumerated by both perimeter and area, providing evidence that the scaling function is the logarithm of an Airy function. The results imply universal amplitude combinations for all area moments and suggest that rooted self-avoiding polygons may satisfy a $q$-algebraic functional equation.Comment: 9 page

Scaling prediction for self-avoiding polygons revisited

We analyse new exact enumeration data for self-avoiding polygons, counted by perimeter and area on the square, triangular and hexagonal lattices. In extending earlier analyses, we focus on the perimeter moments in the vicinity of the bicritical point. We also consider the shape of the critical curve near the bicritical point, which describes the crossover to the branched polymer phase. Our recently conjectured expression for the scaling function of rooted self-avoiding polygons is further supported. For (unrooted) self-avoiding polygons, the analysis reveals the presence of an additional additive term with a new universal amplitude. We conjecture the exact value of this amplitude.Comment: 17 pages, 3 figure

Punctured polygons and polyominoes on the square lattice

We use the finite lattice method to count the number of punctured staircase and self-avoiding polygons with up to three holes on the square lattice. New or radically extended series have been derived for both the perimeter and area generating functions. We show that the critical point is unchanged by a finite number of punctures, and that the critical exponent increases by a fixed amount for each puncture. The increase is 1.5 per puncture when enumerating by perimeter and 1.0 when enumerating by area. A refined estimate of the connective constant for polygons by area is given. A similar set of results is obtained for finitely punctured polyominoes. The exponent increase is proved to be 1.0 per puncture for polyominoes.Comment: 36 pages, 11 figure

Hidradenitis suppurativa:The third cause of vulva carcinoma

The development of squamous cell carcinoma (SCC) is a severe complication of chronic HS (HS). HS associated SCC can present as a painful, persistent tumour or ulcer without typical HS characteristics such as sinus formation and inflammation. Especially male patients with prolonged HS in extra-axillary areas are at risk for this complication. This case of HS associated vulvar SCC emphasizes that also women can develop this complication. In addition to lichen sclerosus vulvae (via dVIN) and high risk HPV (via uVIN) there is a third disease that can lead to vulvar cancer; chronic HS. The clinician should be vigilant for the development of malignant transformation in cases of severe, chronic HS, and should have a low threshold for biopsy. Staging, therapy and follow-up should be performed by gynecologic oncologists in an academic center.</p

Self-avoiding walks and polygons on the triangular lattice

We use new algorithms, based on the finite lattice method of series expansion, to extend the enumeration of self-avoiding walks and polygons on the triangular lattice to length 40 and 60, respectively. For self-avoiding walks to length 40 we also calculate series for the metric properties of mean-square end-to-end distance, mean-square radius of gyration and the mean-square distance of a monomer from the end points. For self-avoiding polygons to length 58 we calculate series for the mean-square radius of gyration and the first 10 moments of the area. Analysis of the series yields accurate estimates for the connective constant of triangular self-avoiding walks, $\mu=4.150797226(26)$, and confirms to a high degree of accuracy several theoretical predictions for universal critical exponents and amplitude combinations.Comment: 24 pages, 6 figure

Area distribution of the planar random loop boundary

We numerically investigate the area statistics of the outer boundary of planar random loops, on the square and triangular lattices. Our Monte Carlo simulations suggest that the underlying limit distribution is the Airy distribution, which was recently found to appear also as area distribution in the model of self-avoiding loops.Comment: 10 pages, 2 figures. v2: minor changes, version as publishe