Love Thy Neighbor: Income Distribution and Housing Preferences

Do homeowners prefer living in an area with a more equal distribution of income? We answer this question by estimating a semi-parametric hedonic pricing model for about 90,000 housing units transacted in Hong Kong between 2005 and 2006. We first identify a hedonic price function by locally regressing the rental price of the housing unit on its intrinsic and neighborhood characteristics, one of which is the Gini coefficient for household income of the constituency area. We then combine the estimates with a log utility function to obtain the heterogeneous preference parameters. Finally, we estimate the joint distribution of the preference parameters and demographics. We find that most homeowners have a strong distaste for inequality in their neighborhood, and the distaste increases with income and goes down with education level. Counterfactual experiments show that reallocating Public Rental Housing by half can increase the welfare of homeowners by about HK$8,000 on average per year, an amount which is equivalent to increasing the housing unit by 20 square feet or reducing the age of the unit by 5 years.hedonic pricing; housing; income inequality

Profitability of the On-Balance Volume Indicator

In the literature, there is a lack of empirical studies documenting the profitability of volume-based technical indicators. This paper evaluates the profitability of the On-Balance Volume (OBV) trading rule. Our result shows that the OBV trading rule is increasingly profitable and rewards investors with notable returns in the stock markets of Greater China.On-Balance Volume, Moving Average, Market Efficiency.

The Hong Kong Neurosurgical Society prospective observational study on outcome of cerebrospinal fluid diversion procedures: an interim report

Conference Theme: Brain Attack: A New EraPosters: no. P-05OBJECTIVE: Cerebrospinal fluid diversion in the form of ventricular drains and permanent internal shunts are the most common neurosurgical procedures. Both are known to be associated with complications which could result in significant morbidities and mortalities. The Hong Kong Neurosurgical Society supported the present study to investigate the local rates of infection and other early procedure-related complications in CSF diversion procedures; and to identify risk ...postprin

Electromagnetic Wave Theory and Remote Sensing

Contains reports on five research projects.Joint Services Electronics Program (Contract DAAG29-78-C-0020)National Science Foundation (Grant ENG78-23145)National Aeronautics and Space Administration (Contract NAS5-24139)U.S. Air Force - Eglin (Contract F08635-78-C-0115)Schlumberger Doll Research Cente

Electrodynamics of Media

Contains reports on one research project.Joint Services Electronics Program (Contract DAAB07-71-C-0300

Electrodynamics of Media

Contains reports on five research projects.Joint Services Electronics Program (Contract DAAG29-78-C-0020)National Science Foundation (Grant ENG76-01654)National Aeronautics and Space Administration (Contract NAS5-24139)U.S. Air Force- Eglin (Contract F08635-78-C-0115)Schlumberger Doll Research Cente

Long-term results of endoscopic-assisted cranionasal resection for olfactory neuroblastoma - single centre experience of fourteen patients

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Primary endovascular treatment of post-irradiated carotid pseudoaneurysm at the skull base with the Pipeline embolization device

Background A post-irradiated carotid pseudoaneurysm at the skull base can cause life-threatening blowout syndrome. Conventional treatments include parent vessel occlusion, endovascular coiling or covered stenting. Use of the Pipeline embolization device (PED) for pseudoaneurysm exclusion at the skull base is not well described. Objective To report the clinical and angiographic outcome after using multiple PEDs to treat recently ruptured radiation-induced carotid pseudoaneurysms at the skull base. Methods Retrospective review of the clinical and angiographic records of patients who received PEDs as primary treatment for skull base carotid pseudoaneurysm between April 1, 2011 to March 31, 2013. Results Seven patients (five men, two women) with a mean age of 58 years (range 47–65) were treated in the study period. Primary treatment with the PED alone, with adjunct coil embolization in two patients, achieved immediate hemostasis in all patients, with no pseudoaneurysm rebleeding after a mean follow-up of 15.3 months (range 4–24 months). One patient had periprocedural cerebral infarction. Delayed internal carotid artery occlusion secondary to in-stent thrombosis occurred in three patients, one of whom had lacunar infarct and two remained asymptomatic. Conclusions Endovascular treatment with the PED was effective in excluding skull base post-irradiated carotid pseudoaneurysms and preventing recurrent blowout. However, the risk of ischemic complications in this group of patients was high and our experience did not support the use of flow diverters as a first-line treatment for this condition.postprin

Estimation of Snow Parameters Based on Passive Microwave Remote Sensing and Meteorological Information

A method to incorporate passive microwave remote sensing measurements within a spatially distributed snow hydrology model to provide estimates of the spatial distribution of Snow Water Equivalent (SWE) as a function of time is implemented. The passive microwave remote sensing measurements are at 25 km resolution. However, in mountain regions the spatial variability of SWE over a 25 km footprint is large due to topographic influences. On the other hand, the snow hydrology model has built-in topographic information and the capability to estimate SWE at a 1 km resolution. In our work, the snow hydrology SWE estimates are updated and corrected using SSM/I passive microwave remote sensing measurements. The method is applied to the Upper Rio Grande River Basin in the mountains of Colorado. The change in prediction of SWE from hydrology modeling with and without updating is compared with measurements from two SNOTEL sites in and near the basin. The results indicate that the method incorporating the remote sensing measurements into the hydrology model is able to more closely estimate the temporal evolution of the measured values of SWE as a function of time