High-spin polaron in lightly doped CuO2_2 planes

We device and investigate numerically a minimal yet detailed spin polaron model that describes lightly doped CuO$_2$ layers. The low-energy physics of a hole is studied by total-spin-resolved exact diagonalization on clusters of up to 32 CuO$_2$ unit cells, revealing features missed by previous studies. In particular, spin-polaron states with total spin 3/2 are the lowest eigenstates in several regions of the Brillouin zone. In these regions, and also at other points the quasiparticle weight is identically zero, indicating orthogonal states to those represented in the one electron Green's function. This highlights the importance of proper treatment of spin fluctuations in the many-body background.Comment: To appear in Phys. Rev. Lett. Final version and Supplementary Materials will be available at the journal's websit

(In)attention and turn-of-the-year returns

We argue that the tax capitalization effect is a function of the attention of market participants. Market reactions can therefore be driven not only by the announcement dates of tax events but also by factors influencing the dissemination of tax information, such as deadlines and media reports. Analyzing the introduction date of the earlier-announced German capital gains tax reform of 2009 by triple-difference estimation, we find evidence of a delayed market reaction long after the announcement date. Within the last two (five) trading days before the deadline, we observe a sharp increase in abnormal trading volumes of 151.7% (104.0%). The aggregate abnormal return of the German capital market in the last five trading days in 2008 was 10.6%. Furthermore, we find a significant and positive correlation between trading volumes and measures for awareness of the upcoming tax reform (Google searches and media reports)

The Impact of Tax Awareness and Procrastination

We argue that the impact of capital gains taxation on asset pricing depends on the tax awareness of market participants. While institutional investors should be generally well-informed about tax regulations, private investors have only limited tax knowledge and resources. As a result, market reactions on tax law changes may be delayed if a considerable fraction of market participants is not fully tax-aware. In line with our argument, we find evidence that the introduction of a previously announced German flat tax on private capital gains in 2009 resulted in a temporarily strong and significant increase of trading volumes, daily returns and asset prices. Our research implies that tax law changes provide an opportunity for well-informed investors to generate arbitrage benefits. Corresponding to our estimate, the capital gains tax resulted in an increase demand for shares of 160 % as well as in an price surplus of about 7.4 % within the last two trading days 2008

Capitalization of capital gains taxes: (In)attention and turn-of-the-year returns

We argue that the tax capitalization effect is a function of the attention of market participants. Market reactions can therefore be driven not only by the announcement dates of tax events but also by factors influencing the dissemination of tax information, such as deadlines and media reports. Analyzing the introduction date of the earlier-announced German capital gains tax reform of 2009 by triple-difference estimation, we find evidence of a delayed market reaction long after the announcement date. Within the last two (five) trading days before the deadline, we observe a sharp increase in abnormal trading volumes of 151.7% (104.0%). The aggregate abnormal return of the German capital market in the last five trading days in 2008 was 10.6%. Furthermore, we find a significant and positive correlation between trading volumes and measures for awareness of the upcoming tax reform (Google searches and media reports)

Single polaron properties of the breathing-mode Hamiltonian

We investigate numerically various properties of the one-dimensional (1D) breathing-mode polaron. We use an extension of a variational scheme to compute the energies and wave-functions of the two lowest-energy eigenstates for any momentum, as well as a scheme to compute directly the polaron Greens function. We contrast these results with results for the 1D Holstein polaron. In particular, we find that the crossover from a large to a small polaron is significantly sharper. Unlike for the Holstein model, at moderate and large couplings the breathing-mode polaron dispersion has non-monotonic dependence on the polaron momentum k. Neither of these aspects is revealed by a previous study based on the self-consistent Born approximation

Measuring Voter Decision Strategies in Political Behavior and Public Opinion Research

Although political science has advanced the study of voter decision-making, the discipline still understands very little about how citizens go about reaching those decisions. In this article, we introduce a five-factor self-report scale of political decision-making (PolDec-5) administered to six different samples with more than 6,500 respondents over the past four years. Analyses illustrate that our five subscales—Rational Choice, Confirmatory, Fast and Frugal, Heuristic-Based, and Going with Your Gut—have high internal consistency, relatively high discriminant validity (as they are largely distinct from existing measures of decision-making style), and significantly high predictive validity, as established by process tracing studies where actual decision strategies of voters can be observed directly. Finally, we discuss how these new measures can help predict important political outcomes

How negative ads from diverse right-wing media makes conservative voters dislike Democratic candidates even more

Recent years have seen growing hostility between those who support different political parties in America. But what is the media’s role in creating this increasing dislike? In new research, Richard Lau, David Andersen, Tessa Ditonto, Mona Kleinberg and David Redlawsk investigate this “affective polarization” by exposing participants to different news sources and positive and negative political advertising. They find that hostility towards the opposite party is at its highest when conservative subjects are exposed to negative ads and can customize their news environment

Production of tetra-methylpyrazine using engineered Corynebacterium glutamicum.

Corynebacterium glutamicum ATCC 13032 is an established and industrially-relevant microbial host that has been utilized for the expression of many desirable bioproducts. Tetra-methylpyrazine (TMP) is a naturally occurring alkylpyrazine with broad applications spanning fragrances to resins. We identified an engineered strain of C. glutamicum which produces 5 ​g/L TMP and separately, a strain which can co-produce both TMP and the biofuel compound isopentenol. Ionic liquids also stimulate TMP production in engineered strains. Using a fed batch-mode feeding strategy, ionic liquid stimulated strains produced 2.2 ​g/L of tetra-methylpyrazine. We show that feedback from a specific heterologous gene pathway on host physiology leads to acetoin accumulation and the production of TMP