Master\u27s Recital

List of performers and performances

Arbitrage and Simple Financial Market Efficiency during the South Sea Bubble: A Comparative Study of the Royal African and South Sea Companies Subscription Share Issues

Subscription shares of the early 18th century were early examples of what today would be called innovated securities. Either by intent or happenstance, they served to overcome imperfections in the capital markets of the day. Not all such securities were, however, alike. The prominent examples of the subscription shares of the South Sea Company and the Royal African Company in 1720 were quiet different in their design and the corporate financial policies they were intended to aid. The historical literature emphasises the importance of irrational pricing behaviour during the South Sea Bubble, yet it is remarkable that in the financial markets of 1720 the relative values of subscription shares are easily understandable using standard financial theory.Royal African Company, South Sea Company, Financial Revolution, subscription shares, call options, derivatives, instalment receipts, innovated securities.

East India Company and Bank of England Shareholders during the South Sea Bubble: Partitions, Components and Connectivity in a Dynamic Trading Network

A new dataset, in the form of a network graph, is used to study inventory and trading behaviour amongst owners of East India Company (EIC) and Bank of England (BoE)stock around the South Sea Bubble. There was a decline in market intermediation in which the goldsmith bankers were dominant in 1720, but foreigners and Jews to some extent restored intermediation services after the Bubble. Company directors temporarily helped to sustain intermediation in 1720 itself. Whereas before and during the Bubble intermediation was largely in the form of brokerage, after the Bubble dealership noticeably began to displace brokerage.South Sea Company; Financial Revolution; social networks, financial intermediation, inventories.

Optimal passive filter design for effective utilization of cables and transformers under non-sinusoidal conditions

Transformers and cables have overheating and reduced loading capabilities under non-sinusoidal conditions due to the fact that their losses increases with not only rms value but also frequency of the load current. In this paper, it is aimed to employ passive filters for effective utilization of the cables and transformers in the harmonically contaminated power systems. To attain this goal, an optimal passive filter design approach is provided to maximize the power factor definition, which takes into account frequency-dependent losses of the power transmission and distribution equipment, under non-sinusoidal conditions. The obtained simulation results show that the proposed approach has a considerable advantage on the reduction of the total transmission loss and the transformer loading capability under non-sinusoidal conditions when compared to the traditional optimal filter design approach, which aims to maximize classical power factor definition. On the other hand, for the simulated system cases, both approaches lead to almost the same current carrying (or loading) capability value of the cables. © 2014 IEEE.This work is supported by Turkish Republic Ministry of Science, Industry and Technology and BEST Transformers Co. under the project number of 01008.STZ.2011 - 2

Policy Formulation, Implementation and Feedback in EU Merger Control

This paper analyses the formulation of the EU Merger Control Regulation (MCR) and its implementation via the 1992 Nestlé/Perrier merger. It offers two arguments. First, these phases of policy development occurred in ‘macro’ and ‘micro’ policy communities found at the supranational level of governance. The first community consists of larger Commission and business interests that formulated the MCR and the second of specific actors within the ‘macro’ community - the Merger Task Force and the firms – that implemented the rules. Secondly, the development of these communities can be explained by private interest theory. The conclusions highlight two main lessons for students of comparative European politics. First, the concept of ‘macro’ and ‘micro’ communities existing at both the formulation and implementation phases of policy offers a framework for comparativists to better analyse which types of actors will interact during different stages of the policy-making process. It is argued that while the (larger) ‘macro’ community helps define the nature of the regulations, a related, but not necessarily equally composed, ‘micro’ community eventually implements the rules, potentially changing the nature of the policy itself via a ‘feedback’ mechanism. Secondly, this study suggests that comparativists must pay more attention to the private interests of policy-makers and how these are intertwined with their ‘private fears.’ Such interests and fears guide policy-makers while simultaneously constrain them from acting alone.

Multiscaling for Classical Nanosystems: Derivation of Smoluchowski and Fokker-Planck Equations

Using multiscale analysis and methods of statistical physics, we show that a solution to the N-atom Liouville Equation can be decomposed via an expansion in terms of a smallness parameter epsilon, wherein the long scale time behavior depends upon a reduced probability density that is a function of slow-evolving order parameters. This reduced probability density is shown to satisfy the Smoluchowski equation up to order epsilon squared for a given range of initial conditions. Furthermore, under the additional assumption that the nanoparticle momentum evolves on a slow time scale, we show that this reduced probability density satisfies a Fokker-Planck equation up to the same order in epsilon. This approach applies to a broad range of problems in the nanosciences.Comment: 23 page

European refugee crisis: psychological trauma of refugees and care givers

Purpose – In recent years, the number of refugees and migrants entering Europe has increased dramatically. Such trauma may affect not only refugees themselves, but also care givers and rescue workers. The purpose of this paper is to discuss the intensity and psychological impact of the refugee crisis, with a view to suggesting ways of moving forward. Design/methodology/approach – Based on recent literature, this paper briefly looks at the importance of attention to health and social issues, before discussing the psychological trauma of refugees and potential emotional trauma of those involved in rescue operations. Findings – The provision of psychological support which is both compassionate and culturally competent should be viewed as essential. Furthermore, the development of resources and tools to assist with the current refugee crisis could enable care givers, rescue workers, and healthcare professionals to provide psychological support to migrants and refugees. Such resources could also encourage, and support, frontline responders in caring for their own personal psychological well-being. Originality/value – The content of this paper could help to encourage further research in this field, including research into the emotional trauma of rescue workers. Furthermore, it is intended that this paper could contribute to an on-line knowledge base when considering the development of tools and resources to assist with the current refugee crisis. Keywords Crisis, Refugee, Psychological, Care-givers Paper type General revie

Clean Cities Niche Market Overview: Refuse Haulers (Brochure)

Refuse haulers are ideal for the adoption of alternative fuels and advanced vehicle technologies. By using fuels like natural gas, propane, or biodiesel, and technologies like hybrid electric and hydraulic hybrid systems, the refuse-hauling sector could substantially decrease its petroleum use and greenhouse gas emissions. Fleet managers should explore the benefits of the fuels and technologies available, as well as the individual fleet needs, before adoption

Near-Field Limits on the Role of Faint Galaxies in Cosmic Reionization

Reionizing the Universe with galaxies appears to require significant star formation in low-mass halos at early times, while local dwarf galaxy counts tell us that star formation has been minimal in small halos around us today. Using simple models and the ELVIS simulation suite, we show that reionization scenarios requiring appreciable star formation in halos with $M_{\rm vir} \approx 10^{8}\,M_{\odot}$ at $z=8$ are in serious tension with galaxy counts in the Local Group. This tension originates from the seemingly inescapable conclusion that 30 - 60 halos with $M_{\rm vir} > 10^{8}\,M_{\odot}$ at $z=8$ will survive to be distinct bound satellites of the Milky Way at $z = 0$. Reionization models requiring star formation in such halos will produce dozens of bound galaxies in the Milky Way's virial volume today (and 100 - 200 throughout the Local Group), each with $\gtrsim 10^{5}\,M_{\odot}$ of old stars ($\gtrsim 13$ Gyr). This exceeds the stellar mass function of classical Milky Way satellites today, even without allowing for the (significant) post-reionization star formation observed in these galaxies. One possible implication of these findings is that star formation became sharply inefficient in halos smaller than $\sim 10^9 \,M_{\odot}$ at early times, implying that the high-$z$ luminosity function must break at magnitudes brighter than is often assumed (at ${\rm M_{UV}} \approx -14$). Our results suggest that JWST (and possibly even HST with the Frontier Fields) may realistically detect the faintest galaxies that drive reionization. It remains to be seen how these results can be reconciled with the most sophisticated simulations of early galaxy formation at present, which predict substantial star formation in $M_{\rm vir} \sim 10^8 \, M_{\odot}$ halos during the epoch of reionization.Comment: 6 pages, 4 figures; minor updates. Published in MNRAS Letter

To what extent can success in ninth grade algebra be predicted by use of certain eighth grade criteria

Thesis (Ed.M.)--Boston University This item was digitized by the Internet Archive