The Option Value of Advanced R&D

Existing tools for making R&D investment decisions cannot properly capture the option value in R&D. Since many new products are identified as failures during the R&D stages, the possibility of refraining from market introduction may add a significant value to the NPV of the R&D project. This paper presents new theoretical insight by developing a stochastic jump amplitude model in a real setting. The option value of the proposed model depends on the expected number of jumps and the expected size of the jumps in a particular business. The model is verified with empirical knowledge of current research in the field of multimedia at Philips Corporate Research. This way, the gap between real option theory and the practice of decision making with respect to investments in R&D is diminished

Sleeping

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Analysis of network-wide transit passenger flows based on principal component analysis

<p>Transit networks are complex systems in which the passenger flow dynamics are difficult to capture and understand. While there is a growing ability to monitor and record travelers' behavior in the past decade, knowledge on network-wide passenger flows, which are essentially high-dimensional multivariate data, is still limited. This paper describes how Principal Component Analysis (PCA) can be leveraged to develop insight into such multivariate time series transformed from raw individual tapping records of smart card data. With a one-month data set of the Shenzhen metro system used in this study, it is shown that a great amount of variance contained in the original data can be effectively retained in lower-dimensional sub-spaces composed of top few Principal Components (PCs). Features of such low dimensionality, PCs and temporal stability of the flow structure are further examined in detail. The results and analysis provided in this paper make a contribution to the understanding of transit flow dynamics and can benefit multiple important applications for transit systems, such as passenger flow modeling and short-term prediction.</p

Sibling Rivalry among Paralogs Promotes Evolution of the Human Brain

Geneticists have long sought to identify the genetic changes that made us human, but pinpointing the functionally relevant changes has been challenging. Two papers in this issue suggest that partial duplication of SRGAP2, producing an incomplete protein that antagonizes the original, contributed to human brain evolution

Complete Solving for Explicit Evaluation of Gauss Sums in the Index 2 Case

Let $p$ be a prime number, $q=p^f$ for some positive integer $f$, $N$ be a positive integer such that $\gcd(N,p)=1$, and let \k be a primitive multiplicative character of order $N$ over finite field \fq. This paper studies the problem of explicit evaluation of Gauss sums in "\textsl{index 2 case}" (i.e. f=\f{\p(N)}{2}=[\zn:\pp], where \p(\cd) is Euler function). Firstly, the classification of the Gauss sums in index 2 case is presented. Then, the explicit evaluation of Gauss sums G(\k^\la) (1\laN-1) in index 2 case with order $N$ being general even integer (i.e. N=2^{r}\cd N_0 where $r,N_0$ are positive integers and $N_03$ is odd.) is obtained. Thus, the problem of explicit evaluation of Gauss sums in index 2 case is completely solved

Degeneracy Algorithm for Random Magnets

It has been known for a long time that the ground state problem of random magnets, e.g. random field Ising model (RFIM), can be mapped onto the max-flow/min-cut problem of transportation networks. I build on this approach, relying on the concept of residual graph, and design an algorithm that I prove to be exact for finding all the minimum cuts, i.e. the ground state degeneracy of these systems. I demonstrate that this algorithm is also relevant for the study of the ground state properties of the dilute Ising antiferromagnet in a constant field (DAFF) and interfaces in random bond magnets.Comment: 17 pages(Revtex), 8 Postscript figures(5color) to appear in Phys. Rev. E 58, December 1st (1998

Succinct Representation of Codes with Applications to Testing

Motivated by questions in property testing, we search for linear error-correcting codes that have the "single local orbit" property: i.e., they are specified by a single local constraint and its translations under the symmetry group of the code. We show that the dual of every "sparse" binary code whose coordinates are indexed by elements of F_{2^n} for prime n, and whose symmetry group includes the group of non-singular affine transformations of F_{2^n} has the single local orbit property. (A code is said to be "sparse" if it contains polynomially many codewords in its block length.) In particular this class includes the dual-BCH codes for whose duals (i.e., for BCH codes) simple bases were not known. Our result gives the first short (O(n)-bit, as opposed to the natural exp(n)-bit) description of a low-weight basis for BCH codes. The interest in the "single local orbit" property comes from the recent result of Kaufman and Sudan (STOC 2008) that shows that the duals of codes that have the single local orbit property under the affine symmetry group are locally testable. When combined with our main result, this shows that all sparse affine-invariant codes over the coordinates F_{2^n} for prime n are locally testable. If, in addition to n being prime, if 2^n-1 is also prime (i.e., 2^n-1 is a Mersenne prime), then we get that every sparse cyclic code also has the single local orbit. In particular this implies that BCH codes of Mersenne prime length are generated by a single low-weight codeword and its cyclic shifts

Novel structurally related compounds reactivate latent HIV-1 in a bcl-2-transduced primary CD4+ T cell model without inducing global T cell activation

Background: The latent reservoir of HIV-1 in resting memory CD4+ T cells is a major barrier to curing HIV-1 infection. Eradication strategies involve reactivation of this latent reservoir; however, agents that reactivate latent HIV-1 through non-specific T cell activation are toxic. Methods: Using latently infected Bcl-2-transduced primary CD4+ T cells, we screened the MicroSource Spectrum library for compounds that reactivate latent HIV-1 without global T cell activation. Based on the structures of the initial hits, we assembled 50 derivatives from commercial sources and mostly by synthesis. The doseresponse relationships of these derivatives were established in a primary cell model. Activities were confirmed with another model of latency (J-Lat). Cellular toxicity and cytokine secretion were tested using freshly isolated human CD4+ T cells. Results: We identified two classes of quinolines that reactivate latent HIV-1. Class I compounds are the Mannich adducts of 5-chloroquinolin-8-ol. Class II compounds are quinolin-8-yl carbamates. Most EC 50 values were in the 0.5 -10 mM range. HIV-1 reactivation ranged from 25% to 70% for anti-CD3+ anti-CD28 co-stimulation. All quinolin-8-ol derivatives that reactivate latent HIV-1 follow Lipinski&apos;s Rule of Five, and most follow the stricter rule of three for leads. After 48 h of treatment, none of the analogues induced detectable cytokine secretion in primary resting CD4+ T cells. Conclusions: We discovered a group of quinolin-8-ol derivatives that can induce latent HIV-1 in a primary cell model without causing global T cell activation. This work expands the number of latency-reversing agents and provides new possible scaffolds for further drug development research

LSD1 cooperates with CTIP2 to promote HIV-1 transcriptional silencing

Microglial cells are the main HIV-1 targets in the central nervous system (CNS) and constitute an important reservoir of latently infected cells. Establishment and persistence of these reservoirs rely on the chromatin structure of the integrated proviruses. We have previously demonstrated that the cellular cofactor CTIP2 forces heterochromatin formation and HIV-1 gene silencing by recruiting HDAC and HMT activities at the integrated viral promoter. In the present work, we report that the histone demethylase LSD1 represses HIV-1 transcription and viral expression in a synergistic manner with CTIP2. We show that recruitment of LSD1 at the HIV-1 proximal promoter is associated with both H3K4me3 and H3K9me3 epigenetic marks. Finally, our data suggest that LSD1-induced H3K4 trimethylation is linked to hSET1 recruitment at the integrated provirus