An Integrative Analysis of Business Bankruptcy in Australia.

This paper proposes an integrative and dynamic approach for analyzing business failure. The simulaneous estimation results obtained with Australian data indicate significant associations between bankruptcy rates in different industries. Most of these associations are positive and hence implying that bankruptcy in one industry can inflict a "domino" effect on other industries.BANKRUPTCY

Two Heads Are Less Bubbly than One: Team Decision-Making in an Experimental Asset Market

We study the effect of team decision-making on bubbles and crashes in experimental asset markets of the kind introduced by Smith, Suchanek and Williams (1988). We find that populating such markets with teams of size two instead of individuals significantly reduces the severity of mispricing. In particular we observe that under our teams treatment, deviations in prices away from intrinsic value are significantly smaller in magnitude, shorter in duration and associated with lower volume and price volatility. We also find an unexpected gender effect in team composition, manifesting itself in more extreme – though not consistently more profitable – behaviour by all-male teams. Since these effects are not observed among male participants generally, we conjecture that they may be due to factors specific to the psychology of decision-making in male-dominated environments.asset market experiments, price bubbles, group decision-making, gender composition of teams

League-Table Incentives and Price Bubbles in Experimental Asset Markets

We study experimental markets in which participants face incentives modeled upon those prevailing in markets for managed funds. Each participant's portfolio is periodically evaluated at market value and ranked in a league table according to short-term paper returns. Those who rank highly attract a larger share of new fund inflows. Under conditions in which prices are close to intrinsic value, the effect of incentives is mild. However under conditions in which markets are prone to bubble, mispricing is greatly exacerbated by incentives. Even in experienced markets, prices climb to levels clearly indicative of speculation and do not always crash back.league tables, price bubbles, managed funds markets, tournament incentives, asset market experiments

Abdominopelvic Splenosis—An Unusual Cause of Tenesmus

Splenosis is a rare condition defined as seeding and autotransplantation of splenic tissue, typically after blunt abdominal trauma (e.g. from road traffic collision). Sites of splenosis ranging from intrathoracic to intrapelvic have been reported, and symptoms vary greatly depending on the site and size of lesions. We present the use of Tc-99m sulphur colloid SPECT/CT in diagnosing a case of multiple abdominopelvic splenosis as the cause of new-onset tenesmus and constipation, which was initially thought to be due to colorectal malignancy, 47 years following the initial abdominal trauma

New line-interactive UPS system with DSP-based active power-line conditioning

This material is presented to ensure timely dissemination of scholarly and technical work. Copyright and all rights therein are retained by authors or by other copyright holders. All persons copying this information are expected to adhere to the terms and constraints invoked by each author's copyright. In most cases, these works may not be reposted without the explicit permission of the copyright holder.---- Copyright IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE

Monte Carlo simulations of liquid crystals near rough walls

The effect of surface roughness on the structure of liquid crystalline fluids near solid substrates is studied by Monte Carlo simulations. The liquid crystal is modeled as a fluid of soft ellipsoidal molecules and the substrate is modeled as a hard wall that excludes the centers of mass of the fluid molecules. Surface roughness is introduced by embedding a number of molecules with random positions and orientations within the wall. It is found that the density and order near the wall are reduced as the wall becomes rougher, i.e., the number of embedded molecules is increased). Anchoring coefficients are determined from fluctuations in the reciprocal space order tensor. It is found that the anchoring strength decreases with increasing surface roughness

Automatic photointerpretation for land use management in Minnesota

There are no author-identified significant results in this report

Node synchronization schemes for the Big Viterbi Decoder

The Big Viterbi Decoder (BVD), currently under development for the DSN, includes three separate algorithms to acquire and maintain node and frame synchronization. The first measures the number of decoded bits between two consecutive renormalization operations (renorm rate), the second detects the presence of the frame marker in the decoded bit stream (bit correlation), while the third searches for an encoded version of the frame marker in the encoded input stream (symbol correlation). A detailed account of the operation is given, as well as performance comparison, of the three methods

Electron Energy Distributions at Relativistic Shock Sites: Observational Constraints from the Cygnus A Hotspots

We report new detections of the hotspots in Cygnus A at 4.5 and 8.0 microns with the Spitzer Space Telescope. Together with detailed published radio observations and synchrotron self-Compton modeling of previous X-ray detections, we reconstruct the underlying electron energy spectra of the two brightest hotspots (A and D). The low-energy portion of the electron distributions have flat power-law slopes (s~1.5) up to the break energy which corresponds almost exactly to the mass ratio between protons and electrons; we argue that these features are most likely intrinsic rather than due to absorption effects. Beyond the break, the electron spectra continue to higher energies with very steep slopes s>3. Thus, there is no evidence for the `canonical' s=2 slope expected in 1st order Fermi-type shocks within the whole observable electron energy range. We discuss the significance of these observations and the insight offered into high-energy particle acceleration processes in mildly relativistic shocks.Comment: 5 pages, 3 figures, in Extragalactic Jets: Theory and Observation from Radio to Gamma Ray, Eds. T. A. Rector and D. S. De Youn