Risk Management Using Futures Contracts: The Impact of Spot Market Contracts and Production Horizons on the Optimal Hedge Ratio

We specify a principal-agent marketing channel involving producers, wholesalers, retailers and a futures market. Our hedge ratio for producers appears to be much lower than the common price-risk minimising ones as we account for producers vertical contracts and, by using annual data, their production horizon. The Dutch ware potato marketing channel and its futures market in Amsterdam show that possibly through decreases in producers and wholesalers risk aversions, their optimal dynamic hedge ratios decreased from 38% and 12%, respectively, in 1982 to 18% and 10%, respectively, in 2003. These results comply with the decreased futures volume traded in Amsterdam over the years.Principal-Agent Model, Risk Management, Futures and Spot Market Contracts, Production Horizons, Food Marketing Channels, Marketing, Risk and Uncertainty,

Embryonic expression and cloning of the murine GATA-3 gene.

We describe the embryonic expression pattern as well as the cloning and initial transcriptional regulatory analysis of the murine (m) GATA-3 gene. In situ hybridization shows that mGATA-3 mRNA accumulation is temporally and spatially regulated during early development: although found most abundantly in the placenta prior to 10 days of embryogenesis, mGATA-3 expression becomes restricted to specific cells within the embryonic central nervous system (in the mesencephalon, diencephalon, pons and inner ear) later in gestation. GATA-3 also shows a restricted expression pattern in the peripheral nervous system, including terminally differentiating cells in the cranial and sympathetic ganglia. In addition to this distinct pattern in the nervous system, mGATA-3 is also expressed in the embryonic kidney and the thymic rudiment, and further analysis showed that it is expressed throughout T lymphocyte differentiation. To begin to investigate how this complex gene expression pattern is elicited, cloning and transcriptional regulatory analyses of the mGATA-3 gene were initiated. At least two regulatory elements (one positive and one negative) appear to be required for appropriate tissue-restricted regulation after transfection of mGATA-3-directed reporter genes into cells that naturally express GATA-3 (T lymphocytes and neuroblastoma cells). Furthermore, this same region of the locus confers developmentally appropriate expression in transgenic mice, but only in a subset of the tissues that naturally express the gene

Stemness and chemoresistance in epithelial ovarian carcinoma cells under shear stress

One of greatest challenges to the successful treatment of cancer is drug resistance. An exciting approach is the eradication of cancer stem cells (CSCs). However, little is known about key signals regulating the formation and expansion of CSCs. Moreover, lack of a reliable predictive preclinical model has been a major obstacle to discover new cancer drugs and predict their clinical activity. Here, in ovarian cancer, a highly chemoresistant tumor that is rapidly fatal, we provide the first evidence demonstrating the causal involvement of mechanical stimulus in the CSC phenotype using a customizable microfluidic platform and three-dimensional spheroids, which most closely mimic tumor behavior. We found that ovarian cancer cells significantly acquired the expression of epithelial-to-mesenchymal transition and CSC markers and a remarkable chemoresistance to clinically relevant doses of frontline chemotherapeutic drugs cisplatin and paclitaxel when grown under fluid shear stress, which corroborates with the physiological attainable levels in the malignant ascites, but not under static condition. Furthermore, we uncovered a new link of microRNA-199a-3p, phosphatidylinositol 3-kinase/Akt, and multidrug transporter activation in shear stress-induced CSC enrichment. Our findings shed new light on the significance of hydrodynamics in cancer progression, emphasizing the need of a flow-informed framework in the development of therapeutics

Non-Abelian Dark Sectors and Their Collider Signatures

Motivated by the recent proliferation of observed astrophysical anomalies, Arkani-Hamed et al. have proposed a model in which dark matter is charged under a non-abelian "dark" gauge symmetry that is broken at ~ 1 GeV. In this paper, we present a survey of concrete models realizing such a scenario, followed by a largely model-independent study of collider phenomenology relevant to the Tevatron and the LHC. We address some model building issues that are easily surmounted to accommodate the astrophysics. While SUSY is not necessary, we argue that it is theoretically well-motivated because the GeV scale is automatically generated. Specifically, we propose a novel mechanism by which mixed D-terms in the dark sector induce either SUSY breaking or a super-Higgs mechanism precisely at a GeV. Furthermore, we elaborate on the original proposal of Arkani-Hamed et al. in which the dark matter acts as a messenger of gauge mediation to the dark sector. In our collider analysis we present cross-sections for dominant production channels and lifetime estimates for primary decay modes. We find that dark gauge bosons can be produced at the Tevatron and the LHC, either through a process analogous to prompt photon production or through a rare Z decay channel. Dark gauge bosons will decay back to the SM via "lepton jets" which typically contain >2 and as many as 8 leptons, significantly improving their discovery potential. Since SUSY decays from the MSSM will eventually cascade down to these lepton jets, the discovery potential for direct electroweak-ino production may also be improved. Exploiting the unique kinematics, we find that it is possible to reconstruct the mass of the MSSM LSP. We also present decay channels with displaced vertices and multiple leptons with partially correlated impact parameters.Comment: 44 pages, 25 figures, version published in JHE

Increasing Neff with particles in thermal equilibrium with neutrinos

Recent work on increasing the effective number of neutrino species (Neff) in the early universe has focussed on introducing extra relativistic species (`dark radiation'). We draw attention to another possibility: a new particle of mass less than 10 MeV that remains in thermal equilibrium with neutrinos until it becomes non-relativistic increases the neutrino temperature relative to the photons. We demonstrate that this leads to a value of Neff that is greater than three and that Neff at CMB formation is larger than at BBN. We investigate the constraints on such particles from the primordial abundance of helium and deuterium created during BBN and from the CMB power spectrum measured by ACT and SPT and find that they are presently relatively unconstrained. We forecast the sensitivity of the Planck satellite to this scenario: in addition to dramatically improving constraints on the particle mass, in some regions of parameter space it can discriminate between the new particle being a real or complex scalar.Comment: 10 pages, 5 figures v2 matches version to appear in JCA

Creatine kinase-MB elevation after percutaneous coronary intervention predicts adverse outcomes in patients with acute coronary syndromes.

AIM: To study the relationship between outcomes and peak creatine kinase (CK)-MB levels after percutaneous coronary intervention (PCI) in patients with non-ST-segment elevation acute coronar

Immediate and short-term effects of straw phonation in air or water on vocal fold vibration and supraglottic activity of adult patients with voice disorders visualized with strobovideolaryngoscopy : a pilot study

PURPOSE : The first purpose of this study was to investigate and compare the short-term effects after a semi-occluded vocal tract (SOVT) therapy session consisting of straw phonation (SP) in air or water on vocal fold vibration and supraglottic activity of adult patients with voice disorders, visualized with strobovideolaryngoscopy (SVL). The second purpose of this study was to investigate and compare immediate changes in the patients’ vocal fold vibration and supraglottic activity during SP in air or water, visualized with SVL. METHODS : Twelve adult patients with voice disorders (eight women and four men, mean age 52 years) were assigned randomly to one of two study groups: SP in air or SP in water. Immediately before and after a therapy session of 15 min, participants underwent a rigid SVL to determine the short-term effects of the SP session. At the posttherapy examination, flexible SVL while performing SP was added to determine the effects occurring during SP. The visual-perceptual ratings were performed blindly and in random order by three laryngologists, using the Voice-Vibratory Assessment with Laryngeal Imaging rating form for stroboscopy. RESULTS : Short-term effects after SP: After the SP-in-air session, the supraglottic mediolateral compression decreased significantly. The SP-in-water session led to significantly increased left vibrational amplitude. Immediate effects during SP: During SP in air, a significantly increased left amplitude and mucosal wave, and significantly decreased mediolateral supraglottic activity, were found. SP in water tended to decrease the vibrational amplitude during performance of the task. A trend toward higher anteroposterior supraglottic compression was observed during both SP in air and water, being more prominent in the latter. CONCLUSION : SP in air led to less false vocal fold adduction and consequently less hyperfunction. The small increment in anteroposterior supraglottic activity during SP in air and water might be related to epilarynx narrowing, an economic phenomenon associated with SOVT exercises. The effects on vibrational amplitude were rather ambiguous. The small reduction in amplitude during SP in water is expected to diminish vocal fold impact stress and therefore creates an ideal basis for voice therapy. The increment in amplitude and mucosal wave during SP in air might indicate insufficient supraglottic pressure to obtain the favorable effects of semi-occlusion. Whether or not the rise in amplitude after the SP-in-water session is due to voice efficiency or voice fatigue remains unknown. Future larger-scale investigation in subgroups of voice patients is needed to explore these hypotheses.http://www.journals.elsevier.com/journal-of-voicehj2023Speech-Language Pathology and Audiolog

Data challenges of time domain astronomy

Astronomy has been at the forefront of the development of the techniques and methodologies of data intensive science for over a decade with large sky surveys and distributed efforts such as the Virtual Observatory. However, it faces a new data deluge with the next generation of synoptic sky surveys which are opening up the time domain for discovery and exploration. This brings both new scientific opportunities and fresh challenges, in terms of data rates from robotic telescopes and exponential complexity in linked data, but also for data mining algorithms used in classification and decision making. In this paper, we describe how an informatics-based approach-part of the so-called "fourth paradigm" of scientific discovery-is emerging to deal with these. We review our experiences with the Palomar-Quest and Catalina Real-Time Transient Sky Surveys; in particular, addressing the issue of the heterogeneity of data associated with transient astronomical events (and other sensor networks) and how to manage and analyze it.Comment: 15 pages, 3 figures, to appear in special issue of Distributed and Parallel Databases on Data Intensive eScienc

The state of the Martian climate

60°N was +2.0°C, relative to the 1981–2010 average value (Fig. 5.1). This marks a new high for the record. The average annual surface air temperature (SAT) anomaly for 2016 for land stations north of starting in 1900, and is a significant increase over the previous highest value of +1.2°C, which was observed in 2007, 2011, and 2015. Average global annual temperatures also showed record values in 2015 and 2016. Currently, the Arctic is warming at more than twice the rate of lower latitudes