The equity premium puzzle and decreasing relative risk aversion

Agents are assumed to have a power risk aversion utility function in an otherwise standard asset pricing model. These preferences are shown to be capable of eliminating one version of the equity premium and risk free rate puzzles when they display decreasing relative risk aversion.asset pricing,equity premium,risk aversion

The Be/X-ray Transient V0332+53: Evidence for a tilt between the orbit and the equatorial plane?

We present optical and infrared observations of BQ Cam, the optical counterpart to the Be/X-ray transient system V0332+53. BQ Cam is shown to be an O8-9Ve star, which places V0332+53 at a distance of ~7 kpc. H-alpha spectroscopy and infrared photometry are used to discuss the evolution of the circumstellar envelope. Due to the low inclination of the system, parameters are strongly constrained. We find strong evidence for a tilt of the orbital plane with respect to the circumstellar disc (pressumably on the equatorial plane). Even though the periastron distance is only ~ 10 R_*, during the present quiescent state the circumstellar disc does not extend to the distance of periastron passage. Under these conditions, X-ray emission is effectively prevented by centrifugal inhibition of accretion. The circumstellar disc is shown to be optically dense at optical and infrared wavelengths, which together with its small size, is taken as an indication of tidal truncation.Comment: 9 pages, 3 figures, uses mn.sty and epsfig Accepted for publication in MNRA

The X-ray Transient XTE J2012+381

We present optical and infrared observations of the soft X-ray transient (SXT) XTE J2012+381 and identify the optical counterpart with a faint red star heavily blended with a brighter foreground star. The fainter star is coincident with the radio counterpart and appears to show weak H alpha emission and to have faded between observations. The RXTE/ASM lightcurve of XTE J2012+381 is unusual for an SXT in that after an extended linear decay, it settled into a plateau state for about 40 days before undergoing a weak mini-outburst. We discuss the nature of the object and suggest similarities to long orbital period SXTs.Comment: 5 pages, 7 postscript figures included, uses mn.sty. Accepted for publication in MNRA

Violence on the Job: The Experiences of Nurses and Midwives with Violence from Patients and Their Friends and Relatives.

Violence in healthcare is recognised as a significant workplace issue worldwide, with nurses recognised as the profession at greatest risk. The purpose of this study was to explore nurses' and midwives' experiences of violence in different clinical areas, work sectors and geographical regions. A cross-sectional design was employed to survey the membership of the New South Wales Nurses and Midwives' Association about their experiences with violence from patients and/or their friends and relatives in their workplace. A total of 3416 participants returned a completed questionnaire and more than three-quarters of had experienced an episode of violence in the preceding six months. Participants working in the public health sector reported significantly more physically violent behaviours than their colleagues in the private sector. No statistically significant difference between the rates of violence (overall) was identified between different geographical areas. Violent behaviours were reported across all clinical settings, with emergency departments, mental health and drug and alcohol settings reporting the highest proportion of episodes. The results of this large study highlight the high levels of violence that nurses and midwives experience in the workplace across all sectors of employment, geographical regions and clinical settings

Malignant and noninvasive skin tumours in renal transplant recipients.

Background. Transplant recipients require immunosuppression to prevent graft rejection. This conveys an increased risk of malignancy, particularly skin tumours. There is a need for up-to-date data for the South of England. Method. Pathology records were reviewed for 709 kidney transplant recipients on immunosuppression at our hospital from 1995 to 2008. Skin tumours were recorded/analysed. Results. Mean age at transplant was 46 years. Mean length of follow-up was 7.2 years and total follow-up was 4926 person-years. 53 (7.5%) patients (39/458 (8.5%) males and 14/251 (5.6%) females) developed ≥1 skin malignancy. Cumulative incidences of 4.0%, 7.5%, and 12.2% were observed for those with <5, <10, and ≥10 years follow-up, respectively. The rate was 45 tumours per 1000 person-years at risk. Additionally, 21 patients (3.0%) only had noninvasive tumours. 221 malignant skin tumours were found: 50.2% were SCCs, 47.1% BCCs, and 2.7% malignant melanomas. Mean years to first tumour were 5.8. Mean number of tumours per patient was 4, with mean interval of 12 months. Conclusions. Despite changes in transplantation practice during the time since the last data were published in this region, these findings are similar to previous studies. This adds to the evidence allowing clinicians to inform patients in this region of their risk

Effects of magnetic field and disorder on electronic properties of Carbon Nanotubes

Electronic properties of metallic and semiconducting carbon nanotubes are investigated in presence of magnetic field perpendicular to the CN-axis, and disorder introduced through energy site randomness. The magnetic field field is shown to induce a metal-insulator transition (MIT) in absence of disorder, and surprisingly disorder does not affect significantly the MIT. These results may find confirmation through tunneling experimentsComment: 4 pages, 6 figures. Phys. Rev. B (in press

Molecule mapping of HR8799b using OSIRIS on Keck: Strong detection of water and carbon monoxide, but no methane

Context. In 2015, Barman et al. (ApJ, 804, 61) presented detections of absorption from water, carbon monoxide, and methane in the atmosphere of the directly imaged exoplanet HR8799b using integral field spectroscopy (IFS) with OSIRIS on the Keck II telescope. We recently devised a new method to analyse IFU data, called molecule mapping, searching for high-frequency signatures of particular molecules in an IFU data cube. Aims. The aim of this paper is to use the molecule mapping technique to search for the previously detected spectral signatures in HR8799b using the same data, allowing a comparison of molecule mapping with previous methods. Methods. The medium-resolution H- and K-band pipeline-reduced archival data were retrieved from the Keck archive facility. Telluric and stellar lines were removed from each spectrum in the data cube, after which the residuals were cross-correlated with model spectra of carbon monoxide, water, and methane. Results. Both carbon monoxide and water are clearly detected at high signal-to-noise, however, methane is not retrieved. Conclusions. Molecule mapping works very well on the OSIRIS data of exoplanet HR8799b. However, it is not evident why methane is detected in the original analysis, but not with the molecule mapping technique. Possible causes could be the presence of telluric residuals, different spectral filtering techniques, or the use of different methane models. We do note that in the original analysis methane was only detected in the K-band, while the H-band methane signal could be expected to be comparably strong. More sensitive observations with the JWST will be capable of confirming or disproving the presence of methane in this planet at high confidence.Comment: 5 pages, 5 figures and 2 tables, accepted by A&

New Cepheid variables in the young open clusters Berkeley 51 and Berkeley 55

As part of a wider investigation of evolved massive stars in Galactic open clusters, we have spectroscopically identified three candidate classical Cepheids in the little-studied clusters Berkeley 51, Berkeley 55 and NGC 6603. Using new multi-epoch photometry, we confirm that Be 51 #162 and Be 55 #107 are bona fide Cepheids, with pulsation periods of 9.83±0.01 d and 5.850±0.005 d respectively, while NGC 6603 star W2249 does not show significant photometric variability. Using the period-luminosity relationship for Cepheid variables, we determine a distance to Be 51 of 5.3 +1.0 −0.8 kpc and an age of 44 +9 −8 Myr, placing it in a sparsely-attested region of the Perseus arm. For Be 55, we find a distance of 2.2±0.3 kpc and age of 63 +12 −11 Myr, locating the cluster in the Local arm. Taken together with our recent discovery of a long-period Cepheid in the starburst cluster VdBH222, these represent an important increase in the number of young, massive Cepheids known in Galactic open clusters. We also consider new Gaia (data release 2) parallaxes and proper motions for members of Be 51 and Be 55; the uncertainties on the parallaxes do not allow us to refine our distance estimates to these clusters, but the well-constrained proper motion measurements furnish further confirmation of cluster membership. However, future final Gaia parallaxes for such objects should provide valuable independent distance measurements, improving the calibration of the period-luminosity relationship, with implications for the distance ladder out to cosmological scales

NASCAP simulation of PIX 2 experiments

The latest version of the NASCAP/LEO digital computer code used to simulate the PIX 2 experiment is discussed. NASCAP is a finite-element code and previous versions were restricted to a single fixed mesh size. As a consequence the resolution was dictated by the largest physical dimension to be modeled. The latest version of NASCAP/LEO can subdivide selected regions. This permitted the modeling of the overall Delta launch vehicle in the primary computational grid at a coarse resolution, with subdivided regions at finer resolution being used to pick up the details of the experiment module configuration. Langmuir probe data from the flight were used to estimate the space plasma density and temperature and the Delta ground potential relative to the space plasma. This information is needed for input to NASCAP. Because of the uncertainty or variability in the values of these parameters, it was necessary to explore a range around the nominal value in order to determine the variation in current collection. The flight data from PIX 2 were also compared with the results of the NASCAP simulation

Assessing the sociology of sport: On sports mega-events and capitalist modernity

On the 50th anniversary of the ISSA and IRSS, one of the leading international scholars on sport and consumer culture, John Horne, considers the trajectory and challenges of research on sports mega-events and their place in capitalist modernity. In anchoring work on this topic in Roche’s definition of mega-events, Horne notes that sports mega-events are important symbolic, economic, and political elements in the orientation of nations to stake their place in global society. Fundamental issues about the concept of ‘mega-event’ pose challenges for scholars as questions remain over what qualifies as a sports mega-event and how ‘lived experience’ with such events transacts with media spectacularization and characterization. The essay closes by posing broader questions for further investigation about the economic, political, and social risks and benefits of sports mega-events and how these events may portend and relate to changing relations of economic and political power on a global scale