Shareholder Protection Across Countries – Is the EU on the Right Track?

Anlegerschutz, EU-Recht, EU-Staaten, Investor protection, Community law, EU countries

Driving steady-state visual evoked potentials at arbitrary frequencies using temporal interpolation of stimulus presentation

Date of Acceptance: 29/10/2015 We thank Renate Zahn for help with data collection. This work was supported by Deutsche Forschungsgemeinschaft (AN 841/1-1, MU 972/20-1). We would like to thank A. Trujillo-Ortiz, R. Hernandez-Walls, A. Castro-Perez and K. BarbaRojo (Universidad Autonoma de Baja California) for making Matlab code for non-sphericity corrections freely available.Peer reviewedPublisher PD

Diversity in Shareholder Protection in Common Law Countries

Aktionär, Anlegerschutz, Common Law, Shareholders, Investor protection

Hessian barrier algorithms for linearly constrained optimization problems

In this paper, we propose an interior-point method for linearly constrained optimization problems (possibly nonconvex). The method - which we call the Hessian barrier algorithm (HBA) - combines a forward Euler discretization of Hessian Riemannian gradient flows with an Armijo backtracking step-size policy. In this way, HBA can be seen as an alternative to mirror descent (MD), and contains as special cases the affine scaling algorithm, regularized Newton processes, and several other iterative solution methods. Our main result is that, modulo a non-degeneracy condition, the algorithm converges to the problem's set of critical points; hence, in the convex case, the algorithm converges globally to the problem's minimum set. In the case of linearly constrained quadratic programs (not necessarily convex), we also show that the method's convergence rate is $\mathcal{O}(1/k^\rho)$ for some $\rho\in(0,1]$ that depends only on the choice of kernel function (i.e., not on the problem's primitives). These theoretical results are validated by numerical experiments in standard non-convex test functions and large-scale traffic assignment problems.Comment: 27 pages, 6 figure

Time-Sliced Perturbation Theory for Large Scale Structure I: General Formalism

We present a new analytic approach to describe large scale structure formation in the mildly non-linear regime. The central object of the method is the time-dependent probability distribution function generating correlators of the cosmological observables at a given moment of time. Expanding the distribution function around the Gaussian weight we formulate a perturbative technique to calculate non-linear corrections to cosmological correlators, similar to the diagrammatic expansion in a three-dimensional Euclidean quantum field theory, with time playing the role of an external parameter. For the physically relevant case of cold dark matter in an Einstein--de Sitter universe, the time evolution of the distribution function can be found exactly and is encapsulated by a time-dependent coupling constant controlling the perturbative expansion. We show that all building blocks of the expansion are free from spurious infrared enhanced contributions that plague the standard cosmological perturbation theory. This paves the way towards the systematic resummation of infrared effects in large scale structure formation. We also argue that the approach proposed here provides a natural framework to account for the influence of short-scale dynamics on larger scales along the lines of effective field theory.Comment: 29 pages, 2 figures, discussion on IR safety expanded, appendix C added; version published in JCA

The Impact of Demographic Change on Human Capital Accumulation

This paper investigates whether and to what extent demographic change has an impact on human capital accumulation. The effect of the relative cohort size on educational attainment of young adults in Germany is analyzed utilizing data from the German Socio-Economic Panel for West-German individuals of the birth cohorts 1966 to 1986. These are the cohorts which entered the labor market since the 1980's. Particular attention is paid to the effect of changes in labor market conditions, which constitute an important channel through which demographic change may affect human capital accumulation. Our findings suggest that the variables measuring demographic change exert a considerable though heterogeneous impact on the human capital accumulation of young Germans. Changing labor market conditions during the 1980's and 1990's exhibit a sizeable impact on both the highest schooling and the highest professional degree obtained by younger cohorts.schooling, vocational training, demographic change

Protein/lipid interactions in phospholipid monolayers containing the bacterial antenna protein B800-850

Studies on monomolecular layers of phospholipids containing the antenna protein B800-850 (LHCP) and in some cases additionally the reaction center of the photosynthetic bacterium Rhodopseudomonas sphaeroides are reported. Information on monolayer preparation as well as on protein /lipid and protein/protein interaction is obtained by means of fluorescence spectroscopy and microscopy at the air/water interface in combination with film balance experiments. It is shown that a homogeneous distribution of functional proteins can be achieved. This can be transformed into a regular pattern-like distribution by inducing a phospholipid phase transition. Although the LHCP preferentially partitions into the fluid lipid phase, it decreases the lateral pressure necessary to crystallize the lipid. This is probably due to an increase in order of the fluid phase. A pressure-induced conformation change of the LHCP is detected via a drastic change in fluorescence yield. A highly efficient energy transfer from LHCP to the reaction center is observed. This proves the quantitative reconstitution of both types of proteins and indicates protein aggregation also in the monolayer

Energy Efficient, Cost Effective, Passive Solar House

A house was constructed in Carbondale, IL, in the mixed humid climate region, using the best current construction methods with commonly available materials. Good passive solar characteristics were obtained by properly orientating the house to have many south-facing windows with proper overhangs which provided 23% of the energy needed for heating. The house also included 15 cm (6 in) thick insulated walls, insulated concrete forms for foundation walls, insulated rim joist, a ground-source heat pump, Energy-Star windows, clothes washer, refrigerator, and compact fluorescent bulbs (CFLs). Electrical usage data was metered separately for heating, air conditioning, hot water, lights and appliances. The energy used by the actual house was compared to the same sized house built to the International Energy Code Council 2004 Residential Energy Code. The actual house used 7809 kWh (50%) less than the code house for an annual cost savings of $826. The annual on-site electricity used by the house was 19.8 kWh/m2. Cost of the energy-efficient improvements in the actual house was$7,990. The house was very cost-effective by using commercially available materials and employing an on-site general contractor knowledgeable in maintaining the high energy-efficiency standards designed into the house, coordinating the work, and allowing the homeowners to perform manual tasks. This method resulted in a price of $1,062/m2 ($99/ft2) of finished floor area, noticeably less than a comparable house in the region