Cognitive Limitation and Investment Performance: Evidence from Limit Order Clustering

We hypothesize that cognitive limitation may be manifested in a disproportionately large volume of limit orders submitted at round-number prices if investors use these numbers as cognitive shortcuts. Using detailed limit order data in the Taiwan Futures Exchange, we find that investors with lower cognitive abilities, defined as higher limit order submission ratios at round numbers, suffer greater losses in their round-numbered and non-round-numbered limit orders, market orders, and round-trip trades. The positive correlation between cognitive ability and investment performance is monotonic and robust across futures and options markets. In addition, past trading experience helps to mitigate the cognitive limitation.postprin

Ultrafast phase-change logic device driven by melting processes.

The ultrahigh demand for faster computers is currently tackled by traditional methods such as size scaling (for increasing the number of devices), but this is rapidly becoming almost impossible, due to physical and lithographic limitations. To boost the speed of computers without increasing the number of logic devices, one of the most feasible solutions is to increase the number of operations performed by a device, which is largely impossible to achieve using current silicon-based logic devices. Multiple operations in phase-change-based logic devices have been achieved using crystallization; however, they can achieve mostly speeds of several hundreds of nanoseconds. A difficulty also arises from the trade-off between the speed of crystallization and long-term stability of the amorphous phase. We here instead control the process of melting through premelting disordering effects, while maintaining the superior advantage of phase-change-based logic devices over silicon-based logic devices. A melting speed of just 900 ps was achieved to perform multiple Boolean algebraic operations (e.g., NOR and NOT). Ab initio molecular-dynamics simulations and in situ electrical characterization revealed the origin (i.e., bond buckling of atoms) and kinetics (e.g., discontinuouslike behavior) of melting through premelting disordering, which were key to increasing the melting speeds. By a subtle investigation of the well-characterized phase-transition behavior, this simple method provides an elegant solution to boost significantly the speed of phase-change-based in-memory logic devices, thus paving the way for achieving computers that can perform computations approaching terahertz processing rates.This is the author's accepted manuscript. The final version is published by PNAS here: http://www.pnas.org/content/early/2014/08/27/1407633111.full.pdf+html?with-ds=yes

Conductance of graphene nanoribbon junctions and the tight binding model

Planar carbon-based electronic devices, including metal/semiconductor junctions, transistors and interconnects, can now be formed from patterned sheets of graphene. Most simulations of charge transport within graphene-based electronic devices assume an energy band structure based on a nearest-neighbour tight binding analysis. In this paper, the energy band structure and conductance of graphene nanoribbons and metal/semiconductor junctions are obtained using a third nearest-neighbour tight binding analysis in conjunction with an efficient nonequilibrium Green’s function formalism. We find significant differences in both the energy band structure and conductance obtained with the two approximations

Optimal circulant modulation for submodule voltage ripple minimization with inherent balancing capability in modular multilevel dc-dc converters

The modularity of the modular multilevel dc-dc converters (MMDCs) makes it as a competitive candidate in medium voltage applications but brings the submodule (SM) voltage balancing issue. This paper proposes an optimal circulant modulation method for minimizing the SM voltage ripples with inherent balancing capability proven at the same time, which allows smaller SM capacitors and avoids the high-frequency communication for SM voltage balancing. Firstly, the optimal switching pattern is strictly derived providing a general method to theoretically minimize the SM capacitor voltage ripple. Then the switching matrix of the optimal circulant modulation is formulated by introducing the generalized-circulant matrix. It verifies the circularity and full-rank feature of the optimal switching matrix, which promises the uniformity of SM actions and the inherent balancing of SM voltages. Finally, full-scale simulations and down-scaled experiments are both provided with the isolated LLC -based MMDC model and prototype. The results show that the proposed optimal circulant modulation can reduce the SM capacitor voltage ripple by 37% compared with the existed method, and it also promises the inherent SM voltage balancing and the SM uniformity

Impacts of household sources on air pollution at village and regional scales in India

Approximately 3 billion people worldwide cook with solid fuels, such as wood, charcoal, and agricultural residues. These fuels, also used for residential heating, are often combusted in inefficient devices, producing carbonaceous emissions. Between 2.6 and 3.8 million premature deaths occur as a result of exposure to fine particulate matter from the resulting household air pollution (Health Effects Institute, 2018a; World Health Organization, 2018). Household air pollution also contributes to ambient air pollution; the magnitude of this contribution is uncertain. Here, we simulate the distribution of the two major health-damaging outdoor air pollutants (PM2:5 and O3) using state-of-thescience emissions databases and atmospheric chemical transport models to estimate the impact of household combustion on ambient air quality in India. The present study focuses on New Delhi and the SOMAARTH Demographic, Development, and Environmental Surveillance Site (DDESS) in the Palwal District of Haryana, located about 80 km south of New Delhi. The DDESS covers an approximate population of 200 000 within 52 villages. The emissions inventory used in the present study was prepared based on a national inventory in India (Sharma et al., 2015, 2016), an updated residential sector inventory prepared at the University of Illinois, updated cookstove emissions factors from Fleming et al. (2018b), and PM2:5 speciation from cooking fires from Jayarathne et al. (2018). Simulation of regional air quality was carried out using the US Environmental Protection Agency Community Multiscale Air Quality modeling system (CMAQ) in conjunction with the Weather Research and Forecasting modeling system (WRF) to simulate the meteorological inputs for CMAQ, and the global chemical transport model GEOS-Chem to generate concentrations on the boundary of the computational domain. Comparisons between observed and simulated O3 and PM2:5 levels are carried out to assess overall airborne levels and to estimate the contribution of household cooking emissions

Bioluminescence imaging reveals inhibition of tumor cell proliferation by Alzheimer's amyloid β protein

Background: Cancer and Alzheimer's disease (AD) are two seemingly distinct diseases and rarely occur simultaneously in patients. To explore molecular determinants differentiating pathogenic routes towards AD or cancer, we investigate the role of amyloid β protein (Aβ) on multiple tumor cell lines that are stably expressing luciferase (human glioblastoma U87; human breast adenocarcinoma MDA-MB231; and mouse melanoma B16F). Results: Quantification of the photons emitted from the MDA-MB231 or B16F cells revealed a significant inhibition of cell proliferation by the conditioning media (CM) derived from amyloid precursor protein (APP) over-expressing cells. The inhibition of U87 cells was observed only after the media was conditioned for longer than 2 days with APP over-expressing cells. Conclusion: Our results suggest that Aβ plays an inhibitory role in tumor cell proliferation; this effect could depend on the type of tumor cells and amount of Aβ

Similarities between structural distortions under pressure and chemical doping in superconducting BaFe2As2

The discovery of a new family of high Tc materials, the iron arsenides (FeAs), has led to a resurgence of interest in superconductivity. Several important traits of these materials are now apparent, for example, layers of iron tetrahedrally coordinated by arsenic are crucial structural ingredients. It is also now well established that the parent non-superconducting phases are itinerant magnets, and that superconductivity can be induced by either chemical substitution or application of pressure, in sharp contrast to the cuprate family of materials. The structure and properties of chemically substituted samples are known to be intimately linked, however, remarkably little is known about this relationship when high pressure is used to induce superconductivity in undoped compounds. Here we show that the key structural features in BaFe2As2, namely suppression of the tetragonal to orthorhombic phase transition and reduction in the As-Fe-As bond angle and Fe-Fe distance, show the same behavior under pressure as found in chemically substituted samples. Using experimentally derived structural data, we show that the electronic structure evolves similarly in both cases. These results suggest that modification of the Fermi surface by structural distortions is more important than charge doping for inducing superconductivity in BaFe2As2

Synchronization modulation increases transepithelial potentials in MDCK monolayers through Na/K pumps

Peer reviewedPublisher PD

Observation of a ppb mass threshoud enhancement in \psi^\prime\to\pi^+\pi^-J/\psi(J/\psi\to\gamma p\bar{p}) decay

The decay channel $\psi^\prime\to\pi^+\pi^-J/\psi(J/\psi\to\gamma p\bar{p})$ is studied using a sample of $1.06\times 10^8$ $\psi^\prime$ events collected by the BESIII experiment at BEPCII. A strong enhancement at threshold is observed in the $p\bar{p}$ invariant mass spectrum. The enhancement can be fit with an $S$-wave Breit-Wigner resonance function with a resulting peak mass of $M=1861^{+6}_{-13} {\rm (stat)}^{+7}_{-26} {\rm (syst)} {\rm MeV/}c^2$ and a narrow width that is $\Gamma<38 {\rm MeV/}c^2$ at the 90% confidence level. These results are consistent with published BESII results. These mass and width values do not match with those of any known meson resonance.Comment: 5 pages, 3 figures, submitted to Chinese Physics