How value-glamour investors use financial information: UK evidence of investor's confirmation bias

The paper investigates investor’s behaviour in the context of value–glamour investing and fundamental analysis, and provides a direct test of the confirmation bias by bringing together the evidence from several strands of literature into a well-defined framework of investor behaviour. The empirical evidence presented is in line with a model of investor’s asymmetric reaction to good and bad news due to confirmation bias. Pessimistic value investors typically under-react to good financial information, but they process bad information rationally or over-confidently. On the contrary, glamour investors are often too optimistic to timely update prices following bad financial information, but they are likely to fairly price or even over-react when receiving good information

Frames and Topological Algebras for a Double-Power Monad

We study the algebras for the double power monad on the Sierpinski space in the Cartesian closed category of equilogical spaces and produce a connection of the algebras with frames. The results hint at a possible synthetic, constructive approach to frames via algebras, in line with that considered in Abstract Stone Duality by Paul Taylor and others

Automatic detection and recording of moving a subject

Peer Reviewe

Laser induced fluorescence for axion dark matter detection: a feasibility study in YLiF4_4:Er3+^{3+}

We present a detection scheme to search for QCD axion dark matter, that is based on a direct interaction between axions and electrons explicitly predicted by DFSZ axion models. The local axion dark matter field shall drive transitions between Zeeman-split atomic levels separated by the axion rest mass energy $m_a c^2$. Axion-related excitations are then detected with an upconversion scheme involving a pump laser that converts the absorbed axion energy ($\sim$ hundreds of $\mu$eV) to visible or infrared photons, where single photon detection is an established technique. The proposed scheme involves rare-earth ions doped into solid-state crystalline materials, and the optical transitions take place between energy levels of $4f^N$ electron configuration. Beyond discussing theoretical aspects and requirements to achieve a cosmologically relevant sensitivity, especially in terms of spectroscopic material properties, we experimentally investigate backgrounds due to the pump laser at temperatures in the range $1.9-4.2$ K. Our results rule out excitation of the upper Zeeman component of the ground state by laser-related heating effects, and are of some help in optimizing activated material parameters to suppress the multiphonon-assisted Stokes fluorescence.Comment: 8 pages, 5 figure

Protandric hermaphroditism in the bivalve Arca noae (Mollusca: Arcidae)

Following the histological analysis of Arca noae samples from the south-western Adriatic Sea, five hermaphroditic specimens were found out of 168 sexed individuals (3.0%). The hermaphrodite gonads showed the co-occurrence of male and female germ cells within the same acini, i.e. both spermatozoa in the lumen and oogonia lining its wall. Oogonia increased in size through winter, thus suggesting that the direction of sex change is from male to female. Both the biometrical analyses and theoretical considerations strongly suggest that A. noae is an obligate protandric species

Report on advances for pediatricians in 2018: allergy, cardiology, critical care, endocrinology, hereditary metabolic diseases, gastroenterology, infectious diseases, neonatology, nutrition, respiratory tract disorders and surgery.

This review reported notable advances in pediatrics that have been published in 2018. We have highlighted progresses in allergy, cardiology, critical care, endocrinology, hereditary metabolic diseases, gastroenterology, infectious diseases, neonatology, nutrition, respiratory tract disorders and surgery. Many studies have informed on epidemiologic observations. Promising outcomes in prevention, diagnosis and treatment have been reported. We think that advances realized in 2018 can now be utilized to ameliorate patient car