A Tournament Approach to Price Discovery in the US Cattle Market

Cattle price discovery is a process of determining the price in the market through the interactions of cattle buyers (packers) and sellers (ranchers). Locating the price discovery center or market, and estimating price interactions among the regional fed cattle markets and also among feeder cattle markets can help define a relevant fed cattle procurement market. This research identifies that the U.S. cattle markets is discovered in the futures markets, feeder cattle futures and fed futures

Convergence of the restricted Nelder-Mead algorithm in two dimensions

The Nelder-Mead algorithm, a longstanding direct search method for unconstrained optimization published in 1965, is designed to minimize a scalar-valued function f of n real variables using only function values, without any derivative information. Each Nelder-Mead iteration is associated with a nondegenerate simplex defined by n+1 vertices and their function values; a typical iteration produces a new simplex by replacing the worst vertex by a new point. Despite the method's widespread use, theoretical results have been limited: for strictly convex objective functions of one variable with bounded level sets, the algorithm always converges to the minimizer; for such functions of two variables, the diameter of the simplex converges to zero, but examples constructed by McKinnon show that the algorithm may converge to a nonminimizing point. This paper considers the restricted Nelder-Mead algorithm, a variant that does not allow expansion steps. In two dimensions we show that, for any nondegenerate starting simplex and any twice-continuously differentiable function with positive definite Hessian and bounded level sets, the algorithm always converges to the minimizer. The proof is based on treating the method as a discrete dynamical system, and relies on several techniques that are non-standard in convergence proofs for unconstrained optimization.Comment: 27 page

Strategic Leadership Approaches at High-Performing Ontario Public Colleges

Colleges in Ontario face many challenges that threaten their future sustainability including a decline in the core 17 to 24 year old feeder group and growing limitations on provincial government funding (Usher, 2013). To generate adequate revenue to survive and thrive, many are embracing competitive approaches intended to grow enrolment. While the provincial government allows and has in fact rewarded competition (i.e. through additional growth funding), it has attempted to moderate the unintended consequences of wholesale marketization through regulation and mandated performance relative to student access and quality (Kirby, 2011). Against this Ontario colleges’ quasi-market context, Presidents and Senior Vice-Presidents Academic (SVPAs) are challenged to adopt leadership behaviours that most effectively support the concurrent achievement of the joint outcomes of enrolment growth, quality and access in their organization. Indeed, a large number of Presidents and their most senior team members may be overly focused on operational tactics and lack the interest, ability or courage to provide a vision, introduce key strategic priorities, and effectively execute on these priorities within their organization (Paul, 2011; Neumann & Neumann, 2000). In this study I attempted to understand the strategic behaviours and actions of President and Senior Vice-President Academic teams at high-performing Ontario colleges, between 2011 and 2014, where high-performing was defined as consistently high ratings on objective systemlevel measures of enrolment growth, quality and access taken together. I designed a qualitative, multi-case study design in which each President and Senior Vice-President Academic team was treated as a case. Presidents and Senior Vice-Presidents Academic were interviewed independently using the same question frame. Cross-case analysis was conducted that focused ii on similarities rather than differences across the cases (Stake, 2006). This approach was used to better understand what best practices may be generalizable to senior college leaders elsewhere, as well as to keep the identity of participants confidential. Out of this study, a preliminary working model of strategic leadership has emerged which ought to be further tested and refined

Annual Percentage Rate And Annual Effective Rate: Resolving Confusion In Intermediate Accounting Textbooks

Evidence of confusion in intermediate accounting textbooks regarding the annual percentage rate (APR) and annual effective rate (AER) is presented. The APR and AER are briefly discussed in the context of a note payable and correct formulas for computing each is provided. Representative examples of the types of confusion that we found is presented and evaluated

Antifungal Antibiotics and Studies on 8-Substituted Homophthalimides

Abstract Not Provided

Information Literacy and the Library Website: Bridging the Gap and Meeting User Needs

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Loci-STREAM Version 0.9

Loci-STREAM is an evolving computational fluid dynamics (CFD) software tool for simulating possibly chemically reacting, possibly unsteady flows in diverse settings, including rocket engines, turbomachines, oil refineries, etc. Loci-STREAM implements a pressure- based flow-solving algorithm that utilizes unstructured grids. (The benefit of low memory usage by pressure-based algorithms is well recognized by experts in the field.) The algorithm is robust for flows at all speeds from zero to hypersonic. The flexibility of arbitrary polyhedral grids enables accurate, efficient simulation of flows in complex geometries, including those of plume-impingement problems. The present version - Loci-STREAM version 0.9 - includes an interface with the Portable, Extensible Toolkit for Scientific Computation (PETSc) library for access to enhanced linear-equation-solving programs therein that accelerate convergence toward a solution. The name "Loci" reflects the creation of this software within the Loci computational framework, which was developed at Mississippi State University for the primary purpose of simplifying the writing of complex multidisciplinary application programs to run in distributed-memory computing environments including clusters of personal computers. Loci has been designed to relieve application programmers of the details of programming for distributed-memory computers