In Finance, Size Matters

This study investigates the relationship between production efficiency in financial intermediation and financial system size. The study predicts and tests for the existence of "systemic scale economies" (SSE) effects, whereby value-maximizing intermediaries operating in large systems are expected to have lower costs of production, risk absorption, and reputation signaling than intermediaries operating in small systems. The study explores the mechanics of SSEs and estimates their quantitative relevance using a large cross-country banking data panel. The study shows strong evidence in support of SSEs and finds that the institutional environment, risk environment, and market concentration affect significantly the production efficiency of financial intermediation services. Copyright 2004, International Monetary Fund

3D avatar seller's effect on online consumer's purchasing behavior: a trust transference perspective

The emerging 3D virtual worlds attract more and more people to participate in the virtual environment, creating a new market for business to sell their products. In 3D virtual worlds, members mainly interact with each other through avatars. The selling process is fulfilled through the shop avatars. How businesses sell their products successfully to the potential customers and eventually persuade the customer to purchase the product is an essential question. Trust played a key role in the selling process. In the general selling process, trust was established through the sales person. In the virtual world environment, could the trust be established between the sales avatars and customer avatars This paper aims at answering this question by examining the trust transference process in the 3D virtual world environment. An experiment was conducted to categorize the avatars into attractive and expert ones. The research result first suggest that trust formed in a 3D avatar seller could be transferred to a selling company and a product but for an expert 3D avatar seller, trust transferred to the company and product results in intent to purchase. Trust in a 3D avatar seller is transferred to trust in a product and a company and furthermore, an expert avatar can affect a consumer's intent to purchase. In the case of an attractive 3D avatar, although trust is transferred, it is only to the point of intent to purchase

Korea's nuclear past, present, and future

노트 : As the chairman of KEPIC, the Korea Electric Power Industry Code Committee, for the past 15 years, C.K. Lee has mobilized and managed 350 engineering professors and professional engineers dispatched from six engineering-related academic societies. KEPIC’s 2005 edition consists of five parts contained in 83 volumes or some 27,000 pages, about 3.2 meters thick. Dr. Lee is also a former Commissioner on the Atomic Energy Commission of South Korea, and a former chairman of the International Nuclear Societies Council. This article is adapted from Dr. Lee’s book-length presentation at the Summer Institute of the World Nuclear University, held in Korea in August 2007. A previous article, “A Nuclear Perspective from Asia,” appeared in the Winter 2002-2003 21st Century. The author can be reached at [email protected]

An Agent Based Market Design Methodology for Combinatorial Auctions

Auction mechanisms have attracted a great deal of interest and have been used in diverse e-marketplaces. In particular, combinatorial auctions have the potential to play an important role in electronic transactions. Therefore, diverse combinatorial auction market types have been proposed to satisfy market needs. These combinatorial auction types have diverse market characteristics, which require an effective market design approach. This study proposes a comprehensive and systematic market design methodology for combinatorial auctions based on three phases: market architecture design, auction rule design, and winner determination design. A market architecture design is for designing market architecture types by Backward Chain Reasoning. Auction rules design is to design transaction rules for auctions. The specific auction process type is identified by the Backward Chain Reasoning process. Winner determination design is about determining the decision model for selecting optimal bids and auctioneers. Optimization models are identified by Forward Chain Reasoning. Also, we propose an agent based combinatorial auction market design system using Backward and Forward Chain Reasoning. Then we illustrate a design process for the general n-bilateral combinatorial auction market. This study serves as a guideline for practical implementation of combinatorial auction markets design.Combinatorial Auction, Market Design Methodology, Market Architecture Design, Auction Rule Design, Winner Determination Design, Agent-Based System

Effect of third components on drag reduction in aluminum soap-hydrocarbon systems

The effect of additives, aging, shear and peptizing agents on the drag reducing abilities of aluminum disoaptoluene solutions prepared at room temperature were studied. Viscosity measurements were used as a primary test to select effective additives. Medium strong organic bases were found to be useful as they speed up the dissolution of slow dissolving aluminum dioctoate soap and form large micelle structures. These peptizers are not effective with aluminum distearate which is very hard to dissolve in toluene at room temperature. Turbulent flow pressure drop measurements at various aging times were made for solutions of 0.1 per cent aluminum dioleate in toluene with and without crotyl chloride and 0.05 per cent aluminum dioctoate (two soaps with different fatty acid contents) with and without additives (allyl alcohol,crotyl chloride and crotyl aldehyde) all in a 0.03 inch tube. In some cases the additives improved the drag reducing characteristics and in others they had an adverse effect. Aluminum dioctoate was also mixed with aluminum dioleate in various proportions to study the aging and drag reducing characteristics of mixed soap systems. The addition of dioleate stabilized the dioctoate solutions and improved their drag reducing characteristics. The presence of small amounts of water with and without additives also affects drag reducing behavior. A critical shear stress region in which soap structure rapidly degrades and loses its drag reducing ability and which is analogous to the behavior of aqueous soap solutions was observed in the hydrocarbon solutions studied. In these systems the rate of reformation of the soap structure which is effective for drag reduction is a slow process, with days or weeks required for recovery. The highest values observed for critical shear stress were for 60 day old solutions of the slow dissolving aluminum dioctoate or younger solutions of this soap which had aluminum dioleate, crotyl chloride or crotyl aldehyde additives present. Critical shear stresses close to 2,500 dynes/cm² and drag ratios as low as 0.33 were observed --Abstract, pages ii-iii

ツユクサ科（ツユクサ目）の系統と分類

京都大学新制・課程博士博士(理学)甲第23047号理博第4724号新制||理||1677(附属図書館)京都大学大学院理学研究科生物科学専攻(主査)教授 田村 実, 教授 鹿内 利治, 教授 工藤 洋学位規則第4条第1項該当Doctor of ScienceKyoto UniversityDGA

Quantification of Cloud Condensation Nuclei Effects on the Microphysical Structure of Continental Thunderstorms Using Polarimetric Radar Observations

Aerosols serving as cloud condensation nuclei (CCN) are crucial to the microphysical structure of thunderstorms. They can also alter the rate of cloud microphysical processes, the moisture profile and the local temperature as a result of latent heating/cooling in the early stage of thunderstorm development. Continental thunderstorms are characterized by high complexity and are highly influenced by environmental conditions. The purpose of this study is to determine the influences of CCN concentration on the microphysics of continental thunderstorms, using a sample of storms from northwestern Oklahoma. The Weather Surveillance Radar-1988 Doppler (WSR-88D) at Vance Air Force Base (KVNX) was upgraded to dual-polarimetric capabilities in March 2011. Using polarimetric variables, a technique using ArcGIS (Geographic Information System) is used to identify the mean droplet characteristics. An estimate of the mean droplet size from the freezing level to 0.5 km above and the warm updraft depth above the ambient freezing level is developed for 36 continental thunderstorms within 15-20 minutes of convection initiation. Data from the Atmospheric Radiation Measurement (ARM) program at the Southern Great Plains (SGP) site are used to represent the aerosol concentration of the thunderstorm environment, and model soundings from the Rapid Update Cycle (RUC) and Rapid Refresh (RAP) Model are used to describe the storm environment. The RUC/RAP soundings were located approximate 59 km away from KVNX and were selected to represent the undisturbed far-field environment. Previous observational and modeling studies found effects of CCN concentration on thunderstorm characteristics including stronger updrafts as a result of enhanced latent heating, suppressed rain drop collision and coalescence, and altering the cold pool size. The results of this study provide more substantial observational evidence in support of these prior findings. Advisor: Matthew S. Van Den Broek