Pricing Rainfall Based Futures Using Genetic Programming

Rainfall derivatives are in their infancy since starting trading on the Chicago Mercantile Exchange (CME) since 2011. Being a relatively new class of financial instruments there is no generally recognised pricing framework used within the literature. In this paper, we propose a novel framework for pricing contracts using Genetic Programming (GP). Our novel framework requires generating a risk-neutral density of our rainfall predictions generated by GP supported by Markov chain Monte Carlo and Esscher transform. Moreover, instead of having a single rainfall model for all contracts, we propose having a separate rainfall model for each contract. We compare our novel framework with and without our proposed contract-specific models for pricing against the pricing performance of the two most commonly used methods, namely Markov chain extended with rainfall prediction (MCRP), and burn analysis (BA) across contracts available on the CME. Our goal is twofold, (i) to show that by improving the predictive accuracy of the rainfall process, the accuracy of pricing also increases. (ii) contract-specific models can further improve the pricing accuracy. Results show that both of the above goals are met, as GP is capable of pricing rainfall futures contracts closer to the CME than MCRP and BA. This shows that our novel framework for using GP is successful, which is a significant step forward in pricing rainfall derivatives

Managing and monitoring equality and diversity in UK sport: An evaluation of the sporting equals Racial Equality Standard and its impact on organizational change

Despite greater attention to racial equality in sport in recent years, the progress of national sports organizations toward creating equality of outcomes has been limited in the United Kingdom. The collaboration of the national sports agencies, equity organizations and national sports organizations (including national governing bodies of sport) has focused on Equality Standards. The authors revisit an earlier impact study of the Racial Equality Standard in sport and supplement it with another round of interview material to assess changing strategies to manage diversity in British sport. In particular, it tracks the impact on organizational commitment to diversity through the period of the establishment of the Racial Equality Standard and its replacement by an Equality Standard that deals with other diversity issues alongside race and ethnicity. As a result, the authors question whether the new, generic Equality Standard is capable of addressing racial diversity and promoting equality of outcomes. © 2006 Sage Publications

Constraining modern day silicon cycling in Lake Baikal

Constraining the continental silicon cycle is a key requirement in attempts to understand both nutrient fluxes to the ocean and linkages between silicon and carbon cycling over different timescales. Silicon isotope data of dissolved silica (δ30SiDSi) are presented here from Lake Baikal and its catchment in central Siberia. As well as being the world's oldest and voluminous lake, Lake Baikal lies within the seventh largest drainage basin in the world and exports significant amounts of freshwater into the Arctic Ocean. Data from river waters accounting for c. 92% of annual river inflow to the lake suggest no seasonal alteration or anthropogenic impact on river δ30SiDSi composition. The absence of a change in δ30SiDSi within the Selenga Delta, through which 62% of riverine flow passes, suggest a net balance between biogenic uptake and dissolution in this system. A key feature of this study is the use of δ30SiDSi to examine seasonal and spatial variations in DSi utilisation and export across the lake. Using an open system model against deep water δ30SiDSi values from the lake, we estimate that 20-24% of DSi entering Lake Baikal is exported into the sediment record. Whilst highlighting the impact that lakes may have upon the sequestration of continental DSi, mixed layer δ30SiDSi values from 2003 and 2013 show significant spatial variability in the magnitude of spring bloom nutrient utilisation with lower rates in the north relative to south basin

Gender Equality and Corporate Social Responsibility in the Middle East

This chapter focuses on corporate social responsibility (CSR) in relation to gender equality in the Arab Middle East. It examines the relationship between CSR and gender in the workplace whilst exploring the link between CSR and human resource management (HRM) policies and practices. The chapter first presents some seminal work on gender equality and diversity management, looking at the business case for gender equality within the CSR and HRM contexts, before engaging with relevant work on gender equality in the Arab Middle East. It concludes by offering recommendations on advancing the equality agenda at the macro- and meso-levels, within a framework which recognises the centrality of agency of women, as well as the potential of positive changes through corporations being seen as ‘agents of change’. The chapter advocates for organisational and governmental policies to promote gender equality in the Arab Middle East

Vertical Distribution of Epibenthic Freshwater Cyanobacterial Synechococcus spp. Strains Depends on Their Ability for Photoprotection

Epibenthic cyanobacteria often grow in environments where the fluctuation of light intensity and quality is extreme and frequent. Different strategies have been developed to cope with this problem depending on the distribution of cyanobacteria in the water column. and either constant or enhanced levels of carotenoids were assayed in phycocyanin-rich strains collected from 1.0 and 0.5 m water depths. Protein analysis revealed that while the amount of biliproteins remained constant in all strains during light stress and recovery, the amount of D1 protein from photosystem II reaction centre was strongly reduced under light stress conditions in strains from 7.0 m and 1.0 m water depth, but not in strains collected from 0.5 m depth. spp. strains, depending on their genetically fixed mechanisms for photoprotection

Mindful networks? Navigating and negotiating life and work in academia.

In this chapter I unpack my use of social networks (and social media) as a means of being more mindful about the role of research and scholarship in the construction of my academic identity. I have found it to be a restless, shifting identity that has to be carefully and continually navigated and negotiated. On the one hand, I explain how participation in social networks has actively shaped my sense of academic community and also the scholarly relationships that contribute strongly to my academic health and wellbeing. On the other hand, I question the extent to which social networking and the use of social media in academia allow truly mindful practices to be enacted. For example, I sometimes worry that social networking for academic purposes through social media contributes to the acceleration of higher education practice – never switching off, always being connected – potentially further exacerbating academics’ levels of labour, stress and pressure. By reflecting upon and analysing my scholarly use of Twitter and Instagram I explore how this practice (usually) keeps me acting mindfully as an academic and evaluate the extent to which it enables me to engage better in the complex cognitive and emotional demands of working in higher education. Finally, I reflect upon my recent change of both role and institution, which saw me unexpectedly and temporarily suspend my regular use of social media for academic purposes.N/