Statistical Arbitrage Mining for Display Advertising

We study and formulate arbitrage in display advertising. Real-Time Bidding (RTB) mimics stock spot exchanges and utilises computers to algorithmically buy display ads per impression via a real-time auction. Despite the new automation, the ad markets are still informationally inefficient due to the heavily fragmented marketplaces. Two display impressions with similar or identical effectiveness (e.g., measured by conversion or click-through rates for a targeted audience) may sell for quite different prices at different market segments or pricing schemes. In this paper, we propose a novel data mining paradigm called Statistical Arbitrage Mining (SAM) focusing on mining and exploiting price discrepancies between two pricing schemes. In essence, our SAMer is a meta-bidder that hedges advertisers' risk between CPA (cost per action)-based campaigns and CPM (cost per mille impressions)-based ad inventories; it statistically assesses the potential profit and cost for an incoming CPM bid request against a portfolio of CPA campaigns based on the estimated conversion rate, bid landscape and other statistics learned from historical data. In SAM, (i) functional optimisation is utilised to seek for optimal bidding to maximise the expected arbitrage net profit, and (ii) a portfolio-based risk management solution is leveraged to reallocate bid volume and budget across the set of campaigns to make a risk and return trade-off. We propose to jointly optimise both components in an EM fashion with high efficiency to help the meta-bidder successfully catch the transient statistical arbitrage opportunities in RTB. Both the offline experiments on a real-world large-scale dataset and online A/B tests on a commercial platform demonstrate the effectiveness of our proposed solution in exploiting arbitrage in various model settings and market environments.Comment: In the proceedings of the 21st ACM SIGKDD international conference on Knowledge discovery and data mining (KDD 2015

Microarray-based resequencing of multiple Bacillus anthracis isolates

We used custom-designed resequencing arrays to generate 3.1 Mb of genomic sequence from a panel of 56 Bacillus anthracis strains. Sequence quality was shown to be very high by replication (discrepancy rate of 7.4 × 10(-7)) and by comparison to independently generated shotgun sequence (discrepancy rate < 2.5 × 10(-6)). Population genomics studies of microbial pathogens using rapid resequencing technologies such as resequencing arrays are critical for recognizing newly emerging or genetically engineered strains

Social Media Technologies' Use for the Competitive Information and Knowledge Sharing, and Its Effects on Industrial SMEs' Innovation

The effective use of technologies supporting decision making is essential to companies? survival. Recent studies analyzed social media technologies (SMT) in the context of small- and medium-sized enterprises (SMEs), contributing to the discussion on SMT benefits from the marketing perspective. This article focuses on the effects of SMT use on innovation. Our findings provide empirical evidence on the positive effects of SMT use for acquiring external information and for sharing knowledge and innovation performance

Fracture assessment of HSST Plate 14 shallow-flaw cruciform bend specimens tested under biaxial loading conditions

A technology to determine shallow-flaw fracture toughness of reactor pressure vessel (RPV) steels is being developed for application to the safety assessment of RPVs containing postulated shallow surface flaws. Matrices of cruciform beam tests were developed to investigate and quantify the effects of temperature, biaxial loading, and specimen size on fracture initiation toughness of two-dimensional (constant depth), shallow, surface flaws. The cruciform beam specimens were developed at Oak Ridge National Laboratory (ORNL) to introduce a far-field, out-of-plane biaxial stress component in the test section that approximates the nonlinear stresses resulting from pressurized-thermal-shock or pressure-temperature loading of an RPV. Tests were conducted under biaxial load ratios ranging from uniaxial to equibiaxial. These tests demonstrated that biaxial loading can have a pronounced effect on shallow-flaw fracture toughness in the lower transition temperature region for an RPV material. The cruciform fracture toughness data were used to evaluate fracture methodologies for predicting the observed effects of biaxial loading on shallow-flaw fracture toughness. Initial emphasis was placed on assessment of stress-based methodologies, namely, the J-Q formulation, the Dodds-Anderson toughness scaling model, and the Weibull approach. Applications of these methodologies based on the hydrostatic stress fracture criterion indicated an effect of loading-biaxiality on fracture toughness; the conventional maximum principal stress criterion indicated no effect. A three-parameter Weibull model based on the hydrostatic stress criterion is shown to correlate the experimentally observed biaxial effect on cleavage fracture toughness by providing a scaling mechanism between uniaxial and biaxial loading states

The Bacillus anthracis chromosome contains four conserved, excision-proficient, putative prophages

BACKGROUND: Bacillus anthracis is considered to be a recently emerged clone within the Bacillus cereus sensu lato group. The B. anthracis genome sequence contains four putative lambdoid prophages. We undertook this study in order to understand whether the four prophages are unique to B. anthracis and whether they produce active phages. RESULTS: More than 300 geographically and temporally divergent isolates of B. anthracis and its near neighbors were screened by PCR for the presence of specific DNA sequences from each prophage region. Every isolate of B. anthracis screened by PCR was found to produce all four phage-specific amplicons whereas none of the non-B. anthracis isolates, produced more than one phage-specific amplicon. Excision of prophages could be detected by a PCR based assay for attP sites on extra-chromosomal phage circles and for attB sites on phage-excised chromosomes. SYBR-green real-time PCR assays indicated that prophage excision occurs at very low frequencies (2 × 10(-5 )- 8 × 10(-8)/cell). Induction with mitomycin C increased the frequency of excision of one of the prophages by approximately 250 fold. All four prophages appear to be defective since, mitomycin C induced culture did not release any viable phage particle or lyse the cells or reveal any phage particle under electron microscopic examination. CONCLUSION: The retention of all four putative prophage regions across all tested strains of B. anthracis is further evidence of the very recent emergence of this lineage and the prophage regions may be useful for differentiating the B. anthracis chromosome from that of its neighbors. All four prophages can excise at low frequencies, but are apparently defective in phage production

Biaxial loading effects on fracture toughness of reactor pressure vessel steel

The preliminary phases of a program to develop and evaluate fracture methodologies for assessing crack-tip constraint effects on fracture toughness of reactor pressure vessel (RPV) steels have been completed by the Heavy-Section Steel Technology (HSST) Program. Objectives were to investigate effect of biaxial loading on fracture toughness, quantify this effect through existing stress-based, dual-parameter, fracture-toughness correlations, or propose and verify alternate correlations. A cruciform beam specimen with 2-D, shallow, through-thickness flaw and a special loading fixture was designed and fabricated. Tests were performed using biaxial loading ratios of 0:1 (uniaxial), 0.6:1, and 1:1 (equi-biaxial). Critical fracture-toughness values were calculated for each test. Biaxial loading of 0.6:1 resulted in a reduction in the lower bound fracture toughness of {approximately}12% as compared to that from the uniaxial tests. The biaxial loading of 1:1 yielded two subsets of toughness values; one agreed well with the uniaxial data, while one was reduced by {approximately}43% when compared to the uniaxial data. Results were evaluated using J-Q theory and Dodds-Anderson (D-A) micromechanical scaling model. The D-A model predicted no biaxial effect, while the J-Q method gave inconclusive results. When applied to the 1:1 biaxial data, these constraint methodologies failed to predict the observed reduction in fracture toughness obtained in one experiment. A strain-based constraint methodology that considers the relationship between applied biaxial load, the plastic zone width in the crack plane, and fracture toughness was formulated and applied successfully to the data. Evaluation of this dual-parameter strain-based model led to the conclusion that it has the capability of representing fracture behavior of RPV steels in the transition region, including the effects of out-of-plane loading on fracture toughness. This report is designated as HSST Report No. 150

Vertical integration and firm boundaries : the evidence

Since Ronald H. Coase's (1937) seminal paper, a rich set of theories has been developed that deal with firm boundaries in vertical or input–output structures. In the last twenty-five years, empirical evidence that can shed light on those theories also has been accumulating. We review the findings of empirical studies that have addressed two main interrelated questions: First, what types of transactions are best brought within the firm and, second, what are the consequences of vertical integration decisions for economic outcomes such as prices, quantities, investment, and profits. Throughout, we highlight areas of potential cross-fertilization and promising areas for future work

Presynaptic actions of 4-Aminopyridine and γ-aminobutyric acid on rat sympathetic ganglia in vitro

Responses to bath-applications of 4-aminopyridine (4-AP) and -aminobutyric acid (GABA) were recorded intracellularly from neurones in the rat isolated superior cervical ganglion. 4-aminopyridine (0.1–1.0 mmol/l) usually induced spontaneous action potentials and excitatory postsynaptic potentials (EPSPs), which were blocked by hexamethonium. Membrane potential was unchanged; spike duration was slightly increased. Vagus nerve B-and C-fibre potentials were prolonged. In 4-AP solution (0.1–0.3 mmol/l), GABA (0.1 mmol/l), 3-aminopropanesulphonic acid or muscimol evoked bursts of spikes and EPSPs in addition to a neuronal depolarization. These bursts, which were not elicited by glycine, glutamate, taurine or (±)-baclofen, were completely antagonised by hexamethonium, tetrodotoxin or bicuculline methochloride. It is concluded that: (a) 4-AP has a potent presynaptic action on sympathetic ganglia; (b) presynaptic actions of GABA can be recorded postsynaptically in the presence of 4-AP; and (c) the presynaptic GABA-receptors revealed in this condition are similar to those on the postsynaptic membrane

Enterprise 2.0: Research challenges and opportunities

© Springer International Publishing Switzerland 2015. Blending Web 2.0 technologies with enterprise information systems is setting up the stage for a new generation of information systems that will help enterprises open up new communication channels with their stakeholders. Contrary to traditional enterprises with top-down command flow and bottom-up feedback flow, the same flows in Enterprise 2.0 cross all levels and in all directions bringing people together in the development of creative and innovative ideas. The power of Web 2.0 technologies stems from their ability to capture real-world phenomena such as collaboration, competition, and partnership that can be converted into useful and structured information sources from which enterprises can draw information about markets’ trends, consumers’ habits, suppliers’ strategies, etc. This paper discusses the research efforts that our international research group has put into the topic of Enterprise 2.0 (aka Social Enterprise). In particular, our research group advocates that existing practices for managing enterprise information systems need to be re-visited in a way that permits to capture social relations that arise inside and outside the enterprise, to establish guidelines and techniques to assist IT practitioners integrate social relations into their design, development, and maintenance efforts of these information systems, and last but not least to identify and tackle challenges that prevent capturing social relations