Missing observation analysis for matrix-variate time series data

Bayesian inference is developed for matrix-variate dynamic linear models (MV-DLMs), in order to allow missing observation analysis, of any sub-vector or sub-matrix of the observation time series matrix. We propose modifications of the inverted Wishart and matrix t distributions, replacing the scalar degrees of freedom by a diagonal matrix of degrees of freedom. The MV-DLM is then re-defined and modifications of the updating algorithm for missing observations are suggested

Forward particle production in proton-nucleus collisions at next-to-leading order

We consider the next-to-leading order (NLO) calculation of single inclusive particle production at forward rapidities in proton-nucleus collisions and in the framework of the Color Glass Condensate (CGC). We focus on the quark channel and the corrections associated with the impact factor. In the first step of the evolution the kinematics of the emitted gluon is kept exactly (and not in the eikonal approximation), but such a treatment which includes NLO corrections is not explicitly separated from the high energy evolution. Thus, in this newly established "factorization scheme", there is no "rapidity subtraction". The latter suffers from fine tuning issues and eventually leads to an unphysical (negative) cross section. On the contrary, our reorganization of the perturbation theory leads by definition to a well-defined cross section and the numerical evaluation of the NLO correction is shown to have the correct size.Comment: 7 pages, 5 figures, based on talk given at QCD@Work, 25-28 June 2018, Matera, Ital

Family and Landed Property Relations Regarded As a Social Capital

Putnam states that ‘the most fundamental form of social capital is the family.’ Bourdieu sees the family as the main site of accumulation and transmission of social capital, while Newton states that ‘the family may also be the most fundamental source of social capital.’ Social capital literature tends to emphasize the role of families in constructing social capital, be this within family networks or beyond in community networks. This paper aims at identifying ways to link exclusive forms of indigenous social capital such as land property, to more inclusive forms of social capital that integrate families and communities in a global process of development. This paper focuses on the role of family landed property in the creation of social networks leading to local development. The case study is of the Faliraki tourist community on the island of Rhodes, Greece. Available primary data refer to a 393-plot sample of cadastral histories and cover a 30-year period, from 1965 to 1995, when the transition from a rural area to an area established as tourist resort in the international market took place. A non-market transfer acts study (inheritances, donations and dowries) has revealed family property management practices and customary rules. One may observe a widespread phenomenon of social dispersion of land property amongst a great number of individuals and families, favoring the spontaneous creation of social networks on different levels and have supported – to a high degree – family businesses and local tourism development. Rather than viewing family businesses as rational decision-makers, the social capital approach of this paper suggests that family businesses and local development are embedded in social relations that influence their activities. Social capital may be the ‘missing link’ in development, as a complement and catalyst of the other, better-known species of capital.

Constrains in Real Estate Investments in Greece

It is generally considered that property is by far the largest store of wealth, and development economics suggests that property markets are the bedrock for economic development. Countries make efforts to promote national and international real estate investors and enterprises. Real estate markets are mainly organized by the State through institutional frameworks and practices. In this paper, we focus on the reasons for real estate market low transparency and effects on tourism investments in Greece through a systemic analysis of the property development process. National or international real estate investors encounter an unfamiliar environment in which they find themselves in a difficult position due to low real estate transparency. Specifically: - Absence of financial benchmarks; - Lack of historical or current market statistics; - Financial statements of listed vehicles that are neither detailed nor standardized according to International Accounting Standards; - Urban, regional and environmental planning procedures and codes that are not clear; - Situations where local assistance or under-the-table payments are required to navigate the investment/development/management process; - Lack of title insurance; - Environment in which government or public utilities change urban development status and regulations, introducing risk. Tourism is considered by the Greek State as the most promising economic sector of the country. Tourism Development Co., created in 1998, is a state-owned company that has undertaken to develop and revitalize the assets owned by the Hellenic Tourism Organization located in the most privileged sites of the country (large land plots for development, casinos, marinas, hotels, health clubs, etc.) by the mobilization both of international and national funds. Tourism Development Co, as a State-owned company, is a relevant case to study State transparency, real estate market transparency and international investors’ attitudes and practices, through examining specific projects of property development and privatization.

Multi-gluon correlations in the Color Glass Condensate

The Color Glass Condensate is a universal state of matter which can manifest itself in hadronic processes involving small-x partons, like DIS and pp, pA and AA collisions at high energy. Observables are given in terms of multi-gluon correlators, whose ensemble evolves according to a RG equation, the JIMWLK equation. We focus on recent progress towards its solution which lead to quasi-exact, analytic expressions for the multi-gluon correlators at high energy.Comment: 4 pages, 3 figures, based on talk given at Hard Probes 2012, 27 May - 1 Jun 2012, Cagliari, Ital