Heterogeneous Investors and their Changing Demand and Supply Schedules for Individual Common Stocks

Using 550 million limit orders submitted in the Korea Stock Exchange, we estimate demand and supply elasticities of heterogeneous investor types and their changes around the Asian financial crisis. We find that domestic individuals have substantially more inelastic demand and supply curves than domestic institutions and foreign investors. The crisis permanently reduced price elasticities of domestic individuals by 50% but had no effect on those of foreign investors. Institutional changes restricting margin purchases, implemented after the crisis, seem particularly important in explaining the dramatic drop. Information heterogeneity, availability of close substitutes and arbitrage risk also explain time-series variations in elasticities.

High-temperature terahertz optical diode effect without magnetic order in polar FeZnMo3_3O8_8

We present a terahertz spectroscopic study of polar ferrimagnet FeZnMo$_3$O$_8$. Our main finding is a giant high-temperature optical diode effect, or nonreciprocal directional dichroism, where the transmitted light intensity in one direction is over 100 times lower than intensity transmitted in the opposite direction. The effect takes place in the paramagnetic phase with no long-range magnetic order in the crystal, which contrasts sharply with all existing reports of the terahertz optical diode effect in other magnetoelectric materials, where the long-range magnetic ordering is a necessary prerequisite. In \fzmo, the effect occurs resonantly with a strong magnetic dipole active transition centered at 1.27 THz and assigned as electron spin resonance between the eigenstates of the single-ion anisotropy Hamiltonian. We propose that the optical diode effect in paramagnetic FeZnMo$_3$O$_8$ is driven by signle-ion terms in magnetoelectric free energy

Lymphoscintigraphy and triangulated body marking for morbidity reduction during sentinel node biopsy in breast cancer

Current trends in patient care include the desire for minimizing invasiveness of procedures and interventions. This aim is reflected in the increasing utilization of sentinel lymph node biopsy, which results in a lower level of morbidity in breast cancer staging, in comparison to extensive conventional axillary dissection. Optimized lymphoscintigraphy with triangulated body marking is a clinical option that can further reduce morbidity, more than when a hand held gamma probe alone is utilized. Unfortunately it is often either overlooked or not fully understood, and thus not utilized. This results in the unnecessary loss of an opportunity to further reduce morbidity. Optimized lymphoscintigraphy and triangulated body marking provides a detailed 3 dimensional map of the number and location of the sentinel nodes, available before the first incision is made. The number, location, relevance based on time/sequence of appearance of the nodes, all can influence 1) where the incision is made, 2) how extensive the dissection is, and 3) how many nodes are removed. In addition, complex patterns can arise from injections. These include prominent lymphatic channels, pseudo-sentinel nodes, echelon and reverse echelon nodes and even contamination, which are much more difficult to access with the probe only. With the detailed information provided by optimized lymphoscintigraphy and triangulated body marking, the surgeon can approach the axilla in a more enlightened fashion, in contrast to when the less informed probe only method is used. This allows for better planning, resulting in the best cosmetic effect and less trauma to the tissues, further reducing morbidity while maintaining adequate sampling of the sentinel node(s)

New Power Quality Index in a Distribution Power System by Using RMP Model

In this paper, a new power quality index (PQI), which is directly related to the generation of distortion power from nonlinear harmonic loads, is introduced to determine their harmonic pollution ranking in a distribution power system. The electric load composition rate (LCR) and the total harmonic distortion (THD) for the estimated currents on each harmonic load are used to define the proposed PQI. The reduced multivariate polynomial (RMP) model with one-shot training property is applied to realize the PQI. Then, the ranking of distortion power for each nonlinear load, which have adverse effect on the entire system, is determined. It is proved that the relative ranking based on the PQI matches that on the distortion power computed directly from each harmonic load

New External Neuro-Controller for Series Capacitive Reactance Compensator in a Power Network

The controllable capacitive reactance can be used as the input variable for the external controller of a series capacitive reactance compensator (SCRC) to improve the damping of low-frequency oscillations of the rotor angle and active power in a power system. Conventional linear PI controllers are tuned for best performance at one specific operating point of the nonlinear power system. At other operating point its performance degrades. Nonlinear optimal neuro-controllers are able to overcome this degradation. In this paper, the dual heuristic dynamic programming (DHP) optimization algorithm is applied to design an external nonlinear optimal neuro-controller for the SCRC. Simulation studies using PSCAD/EMTDC© software are presented

MLP/RBF Neural-Networks-Based Online Global Model Identification of Synchronous Generator

This paper compares the performances of a multilayer perceptron neural network (MLPN) and a radial basis function neural network (RBFN) for online identification of the nonlinear dynamics of a synchronous generator in a power system. The computational requirement to process the data during the online training, local convergence, and online global convergence properties are investigated by time-domain simulations. The performances of the identifiers as a global model, which are trained at different stable operating conditions, are compared using the actual signals as well as the deviation signals for the inputs of the identifiers. Such an online-trained identifier with fixed optimal weights after the global convergence test is needed to provide information about the plant to a neurocontroller. The use of the fixed weights is to provide against a sensor failure in which case the training of the identifiers would be automatically stopped, and their weights frozen, but the control action, which uses the identifier, would be able to continue