Elastic-Net Regularization in Learning Theory

Within the framework of statistical learning theory we analyze in detail the so-called elastic-net regularization scheme proposed by Zou and Hastie for the selection of groups of correlated variables. To investigate on the statistical properties of this scheme and in particular on its consistency properties, we set up a suitable mathematical framework. Our setting is random-design regression where we allow the response variable to be vector-valued and we consider prediction functions which are linear combination of elements ({\em features}) in an infinite-dimensional dictionary. Under the assumption that the regression function admits a sparse representation on the dictionary, we prove that there exists a particular ``{\em elastic-net representation}'' of the regression function such that, if the number of data increases, the elastic-net estimator is consistent not only for prediction but also for variable/feature selection. Our results include finite-sample bounds and an adaptive scheme to select the regularization parameter. Moreover, using convex analysis tools, we derive an iterative thresholding algorithm for computing the elastic-net solution which is different from the optimization procedure originally proposed by Zou and HastieComment: 32 pages, 3 figure

Sparse and stable Markowitz portfolios

We consider the problem of portfolio selection within the classical Markowitz mean-variance framework, reformulated as a constrained least-squares regression problem. We propose to add to the objective function a penalty proportional to the sum of the absolute values of the portfolio weights. This penalty regularizes (stabilizes) the optimization problem, encourages sparse portfolios (i.e. portfolios with only few active positions), and allows to account for transaction costs. Our approach recovers as special cases the no-short-positions portfolios, but does allow for short positions in limited number. We implement this methodology on two benchmark data sets constructed by Fama and French. Using only a modest amount of training data, we construct portfolios whose out-of-sample performance, as measured by Sharpe ratio, is consistently and significantly better than that of the naive evenly-weighted portfolio which constitutes, as shown in recent literature, a very tough benchmark.Comment: Better emphasis of main result, new abstract, new examples and figures. New appendix with full details of algorithm. 17 pages, 6 figure

A rapid procedure for the extraction of genomic DNA from intact Aspergillus spores

Genomic DNA of different species of Aspergillus was prepared from intact spores using the Nucleon MiY kit of Amersham. The method is rapid, does not involve mechanical disruption of the spores nor the use of phenol-chloroform extractions and yields DNA that is suitable for PCR amplification and Southern analysis. The method is also applicable to mycelium ground with glass beads

Migration aspirations and migration cultures:A case study of Ukrainian migration towards the European Union

An abundant body of research focused on macrolevel, mesolevel, and microlevel factors explaining why individuals move across international borders. In this paper, we aim to complement the existing literature by exploring how, within a single country, mesolevel factors differently impact migration aspirations, focusing on a case study of Ukraine. We particularly focus on how migration aspirations of individuals in two different regions can be explained by their international social networks with family members, on the one hand, and with friends, on the other. Furthermore, we explore whether regional migration characteristics play a role, as well as the interaction of such characteristics with individuals' frequency of contact with transnational networks. Our analyses are based on the EUMAGINE project and suggest that the interplay between regional migration characteristics and transnational social contact are key for explainingthe decline of migration systems over time

Magnetic monopole and string excitations in a two-dimensional spin ice

We study the magnetic excitations of a square lattice spin-ice recently produced in an artificial form, as an array of nanoscale magnets. Our analysis, based upon the dipolar interaction between the nanomagnetic islands, correctly reproduces the ground-state observed experimentally. In addition, we find magnetic monopole-like excitations effectively interacting by means of the usual Coulombic plus a linear confining potential, the latter being related to a string-like excitation binding the monopoles pairs, what indicates that the fractionalization of magnetic dipoles may not be so easy in two dimensions. These findings contrast this material with the three-dimensional analogue, where such monopoles experience only the Coulombic interaction. We discuss, however, two entropic effects that affect the monopole interactions: firstly, the string configurational entropy may loose the string tension and then, free magnetic monopoles should also be found in lower dimensional spin ices; secondly, in contrast to the string configurational entropy, an entropically driven Coulomb force, which increases with temperature, has the opposite effect of confining the magnetic defects.Comment: 8 pages. Accepted by Journal of Applied Physics (2009

Destination choices of international students in the Netherlands:A meso‐level analysis of higher education institutions and cities

This study quantitatively investigates enrolments of international students using data that contains nearly every student in the Netherlands for the years 2016–2019. Using this data, we are able to perform a meso-level analysis where we could investigate the characteristics of higher education institutions (HEIs) and cities in international student mobility. This research contributes to the literature by studying variation between HEIs and by focusing on actual enrolments instead of relying on survey results. Such meso-level studies have thus far been very rare, especially on this scale. Although there are commonalities between types of degrees, we find mixed results for academic and city characteristics, and it appears that academic factors are more important for master students while for bachelor students city characteristics have stronger effects. The effect of having already existing stocks of international students appears to be important for all types of degrees. Aside from differences between bachelor and master students, our findings also suggest that HEIs might directly influence international student flows as this would explain some of our results. Although this study only focuses on the Netherlands, it opens up many avenues for future comparative research on the destination choices of international students and the role of HEIs

International student mobility and labour market outcomes: an investigation of the role of level of study, type of mobility, and international prestige hierarchies

Over the last decades, there has been increasing interest in the topic of international student mobility (ISM). However, there is surprisingly little analysis of the ways in which different characteristics and types of short-term ISM or the importance of host education systems and labour markets may affect early career outcomes of formerly mobile graduates. Therefore, in this study we explore, first, the relationship between participation in ISM at the Bachelor and Master level and graduates’ wages and the duration of education-to-work transitions. Second, we investigate variations in ISM’s labour market outcomes according to the type of mobility: study, internships, or combinations of both. Third, we examine the relationship between labour market outcomes of formerly mobile students and the country of destination’s position in higher education international prestige hierarchies and labour market competitiveness. We use the Dutch National Alumni Survey 2015, a representative survey of higher education graduates in the Netherlands, conducted 1.5 years after graduation. Before controlling for selection into ISM, the results suggest the existence of labour market returns to ISM and that the heterogeneity of ISM experiences matters, as labour market outcomes vary according to the level of study, the type of mobility and the positioning of the country of destination in international prestige hierarchies. However, after controlling for selection into ISM through propensity score matching, the differences in early career outcomes between formerly mobile and non-mobile graduates disappear, suggesting that they cannot be causally attributed to their ISM-experience. We explain these results with reference to the characteristics of the Dutch education system and labour market, where restricted possibilities for upward vertical mobility limit returns to ISM in the local labour market