Large Deviation asymptotics for the exit from a domain of the bridge of a general Diffusion

We provide Large Deviation estimates for the bridge of a $d$-dimensional general diffusion process as the conditioning time tends to $0$ and apply these results to the evaluation of the asymptotics of its exit time probabilities. We are motivated by applications to numerical simulation, especially in connection with stochastic volatility models.Comment: 15 pages, 2 figure

Knowledge, Spillovers and Firms’ International Growth. An Analysis at the Italian NUTS 3 Level

In the framework of analyses on the relationship between geography and technological innovation, the role of universities has received considerable attention. Both theoretical and empirical literature has shown that university research positively influences the capacity for innovation of the surrounding firms (Jaffe, 1989; Feldman, 1994; Acs et al, 2002). Universities play a central role in innovation processes both as the main responsible for basic research and also as forgers of human capital’s skills. Empirical work has highlighted that such effects radiate from major university centres crossing borders and administrative boundaries (Anselin et al., 1997). This paper focuses on the relationship between universities and the innovative capacity at the territorial level. Specifically, our empirical analysis investigates whether university research spillovers are highly localised or they rather flow across borders. Empirical literature has widely investigated intensity and directions of such spillovers, mainly within the theoretical framework of Griliches-Jaffe. However, we extend the empirical evidence exploring whether intensity and directions of spillovers depend on universities’ specificities (e.g. size, fields of specialization, fund rising capacity) and on the local absorptive capacity. The analysis is developed at the Italian NUTS3 level, using an explicit spatial econometric approach applied to a knowledge production function. References Acs, Z., Anselin, L., and Varga, A. (2002): “Patents and innovation counts as measures of regional production of new knowledgeâ€, Research Policy 31, pp. 1069-1085. Anselin, L., Varga, A., and Acs, Z. (1997): “Local geographic spillovers between University research and high technology innovationsâ€, Journal of Urban Economics 42, pp. 422-448. Feldman, M. (1994): The Geography of innovation, Kluwer Academic Publishers. Dordrecht. Jaffe, A. (1989): “Real effects of academic researchâ€, The American Economic Review, vol 79, n. 5, pp. 957-970.

EXPLAINING THE TERRITORIAL ADOPTION OF NEW TECHNOLOGIES - A SPATIAL ECONOMETRIC APPROACH

The notion that Information and Communication Technology would have reduced the economic importance of geographic distance has been proposed with energy in the post-Internet literature (Cairncross, 2001). According to this view, the New Economy would work in a space rather than a place, cost of transport would be drastically reduced, distance would be less important, and peripheral regions would benefit from opportunities that were not available in the economy based on manufacturing industry (Negroponte, 1995; Cairncross, 1997; Kelly, 1998; Compaine, 2001). Since ICT are mostly based on immaterial and human capital investment, regions or areas that have historically suffered from isolation, large cost of transportation, or lack of physical private and public infrastructure might find new paths for growth. Consequently, according to this view, the concentration of income opportunities and wealth should decrease over time. Although other predictions were also present in the debate over the impact of the digital economy (e.g. Norris, 2001; UNDP; 2001), this view was largely dominant. The reality is not so rosy. Not only there are huge disparities in the intensity with which ICT are adopted and used across countries, but also there are still large differences within industrialized countries. Indeed, differences in economic development still shape the rate of the adoption of these technologies, at the firm, regional and country level. The reasons behind these stylized facts have been investigated at length in recent times. This paper contributes to the literature in several ways. First, it focuses on intra-national or regional differences, which is a much less explored dimension of the digital divide. Second, it uses a new metric for the adoption of ICT, namely the number of second level Internet domain names, registered under the ccTLD “.it.”. Finally, it explicitly combines the analysis of determinants with a spatial econometric approach. Thanks to the availability of panel data for both the dependent and the explanatory variables (time period: 1990-2001), spatial and temporal effect are simultaneously taken into account. Panel data techniques that account for temporal correlations are in widespread use while there have been a variety of studies accounting for spatial autocorrelation (see for instance Coughlin et al. 2003; Dubin, 1992; McMillan, 2004). However one of the major drawbacks to many analyses is that they fail to integrate the spatial and temporal correlations that are present in geographical systems (Elhorst, 2003).

Wolfgang Iser. Towards Literary Anthropology. Introduction

In this article you find the editorial remarks of this special issue on “Wolfgang Iser. Towards Literary Anthropology”, edited by Laura Lucia Rossi. Alongside introducing the content of the issue, the author reflects on Wolfgang Iser’s influence and legacy and on the perspectives of the Iserian studies, in particular with regard to «literary anthropology»

Milky Way type galaxies in a LCDM cosmology

We analyse a sample of 52,000 Milky Way (MW) type galaxies drawn from the publicly available galaxy catalogue of the Millennium Simulation with the aim of studying statistically the differences and similarities of their properties in comparison to our Galaxy. Model galaxies are chosen to lie in haloes with maximum circular velocities in the range 200-250 km/seg and to have bulge-to-disk ratios similar to that of the Milky Way. We find that model MW galaxies formed quietly through the accretion of cold gas and small satellite systems. Only 12 per cent of our model galaxies experienced a major merger during their lifetime. Most of the stars formed in situ, with only about 15 per cent of the final mass gathered through accretion. Supernovae and AGN feedback play an important role in the evolution of these systems. At high redshifts, when the potential wells of the MW progenitors are shallower, winds driven by supernovae explosions blow out a large fraction of the gas and metals. As the systems grow in mass, SN feedback effects decrease and AGN feedback takes over, playing a more important role in the regulation of the star formation activity at lower redshifts. Although model Milky Way galaxies have been selected to lie in a narrow range of maximum circular velocities, they nevertheless exhibit a significant dispersion in the final stellar masses and metallicities. Our analysis suggests that this dispersion results from the different accretion histories of the parent dark matter haloes. Statically, we also find evidences to support the Milky Way as a typical Sb/Sc galaxy in the same mass range, providing a suitable benchmark to constrain numerical models of galaxy formationComment: 10 pages, 7 figures, mne2.cls, MNRAS, replaced with accepted versio

A virtual roundtable on Iser’s legacy Part IV: a conversation with Federico Bertoni

In this article you find the fourth and last part of our ‘virtual roundtable’ on Wolfgang Iser’s legacy with Gerald Prince, Mark Fremman, Marco Caracciolo and Federico Bertoni. In part IV we discuss with Federico Bertoni the state of theories of reading and the centality of Iser’s work in the field, the ethical potential of literature, and the role of literary criticism and theory today

A virtual roundtable on Iser’s legacy Part I: conversation with Gerald Prince

In this article you find the first part of a roundtable on Wolfgang’s Iser legacy with Gerald Prince, Mark Freeman, Marco Caracciolo and Federico Bertoni. In Part I we discuss with Prof. Gerald Prince the influence of Iser’s aesthetic response theory on past and current reader oriented approaches, as well as Iser’s last insights on literary anthropology and the role of literary theory

A virtual roundtable on Iser’s legacy Part II: conversation with Mark Freeman

In this article you find the second part of a roundtable on Wolfgang’s Iser legacy with Gerald Prince, Mark Freeman, Marco Caracciolo and Federico Bertoni. In Part II we discuss with Prof. Mark Freem the role of narrative hermeneutics in understanding the human realm and the tenets of self-interpretation, as well as the necessity of literary antrhopology and literary theory