Optimal multi-period consumption and investment with short-sale constraints

Cataloged from PDF version of article.This article examines agents’ consumption-investment problem in a multi-period pure exchange economy where agents are constrained with the short-sale of state-dependent risky contingent claims. In equilibrum, agents hold options written on aggregate consumption in their optimal portfolios. Furthermore, under the specific case of quadratic utility, the optimal risk-sharing rule derived for the pricing agent leads to a multifactor conditional consumption-based capital asset pricing model (CCAPM), where excess option returns appear as factors. 2013 Elsevier Inc. All rights reserved

Granulomatous hepatitis due to Bartonella henselae infection in an immunocompetent patient

<p>Abstract</p> <p>Background</p> <p><it>Bartonella henselae </it>(<it>B. henselae</it>) is considered a rare cause of granulomatous hepatitis. Due to the fastidious growth characteristics of the bacteria, the limited sensitivity of histopathological stains, and the non-specific histological findings on liver biopsy, the diagnosis of hepatic bartonellosis can be difficult to establish. Furthermore, the optimal treatment of established hepatic bartonellosis remains controversial.</p> <p>Case presentation</p> <p>We present a case of hepatic bartonellosis in an immunocompetent woman who presented with right upper quadrant pain and a five cm right hepatic lobe mass on CT scan. The patient underwent a right hepatic lobectomy. Surgical pathology revealed florid necrotizing granulomatous hepatitis, favoring an infectious etiology. Despite extensive histological and serological evaluation a definitive diagnosis was not established initially. Thirteen months after initial presentation, hepatic bartonellosis was diagnosed by PCR studies from surgically excised liver tissue. Interestingly, the hepatic granulomas persisted and <it>Bartonella henselae </it>was isolated from the patient's enriched blood culture after several courses of antibiotic therapy.</p> <p>Conclusion</p> <p>The diagnosis of hepatic bartonellosis is exceedingly difficult to establish and requires a high degree of clinical suspicion. Recently developed, PCR-based approaches may be required in select patients to make the diagnosis. The optimal antimicrobial therapy for hepatic bartonellosis has not been established, and close follow-up is needed to ensure successful eradication of the infection.</p

Empirical Modeling of Residual Stress Profile in Machining Nickel-based Superalloys Using the Sinusoidal Decay Function

After machining nickel-based superalloys, tensile surface residual stresses can cause end-product issues such as fatigue failure. Modeling the residual stress profile is currently tedious and inaccurate. This study introduces a new method of understanding the residual stress profile in terms of quantifiable key measures: peak tensile stress at the surface, magnitude and depth of peak compressive stress, and depth at which residual stress becomes near-zero. Experiments in turning IN-100 and milling GTD-111 have been conducted and subsequent X-ray Diffraction measurements have been utilized to obtain residual stress profiles. Using a sinusoidal decay function fitted to measured residual stress profiles, these four key profile measures are extracted and then the effects of process parameters such as cutting speed, feed, cutting edge radius, and tool coating on these measures are investigated

Empirical Modeling of Residual Stress Profile in Machining Nickel-based Superalloys Using the Sinusoidal Decay Function

After machining nickel-based superalloys, tensile surface residual stresses can cause end-product issues such as fatigue failure. Modeling the residual stress profile is currently tedious and inaccurate. This study introduces a new method of understanding the residual stress profile in terms of quantifiable key measures: peak tensile stress at the surface, magnitude and depth of peak compressive stress, and depth at which residual stress becomes near-zero. Experiments in turning IN-100 and milling GTD-111 have been conducted and subsequent X-ray Diffraction measurements have been utilized to obtain residual stress profiles. Using a sinusoidal decay function fitted to measured residual stress profiles, these four key profile measures are extracted and then the effects of process parameters such as cutting speed, feed, cutting edge radius, and tool coating on these measures are investigated

An anatomical study of the sigmoid sulcus and related structures

WOS: A1996WA05800007PubMed ID: 8983108Variations in the shape and size of the sigmoid sulcus were investigated in 561 temporal bones (438 isolated temporal bones, 49 skull bases and 25 half skull bases) and measurements of related structures were made. Right-left differences were analysed. The sigmoid sulcus was significantly wider (12 mm) and longer (38 mm) in the skull bases, while no differences were observed in the isolated temporal bones. The distance from the most prominent point of the mastoid process to the Frankfort horizontal plane (FHP) was 33 mm; no right-left difference was found. The distance from the genu of the sigmoid sulcus to the external acoustic meatus was 24.06 mm on the right side and 24.74 mm on the left side and this difference is significant, being considerably longer on the left side. The jugular foramen diameter was 7.8 mm; no right-left-difference was observed. The relationship of the mastoid air cells to the sulcus was analysed and air cells were found just behind the sulcus in 66% and behind and posterior to the sulcus in 5% of temporal bones

Biofortification and localization of zinc in wheat grain

PubMedID: 23654236Zinc (Zn) deficiency associated with low dietary intake is a well-documented public health problem, resulting in serious health and socioeconomic problems. Field experiments were conducted with wheat to test the role of both soil and foliar application of ZnSO4 in Zn concentration of whole grain and grain fractions (e.g., bran, embryo and endosperm) in 3 locations. Foliar application of ZnSO4 was realized at different growth stages (e.g., stem elongation, boot, milk, dough stages) to study the effect of timing of foliar Zn application on grain Zn concentration. The rate of foliar Zn application at each growth stage was 4 kg of ZnSO4 3 7H2O ha-1. Laser ablation (LA)-ICP-MS was used to follow the localization of Zn within grain. Soil Zn application at a rate of 50 kg of ZnSO4 3 7H2O ha-1 was effective in increasing grain Zn concentration in the Zn-deficient location, but not in the locations without soil Zn deficiency. In all locations, foliar application of Zn significantly increased Zn concentration in whole grain and in each grain fraction, particularly in the case of high soil N fertilization. In Zn-deficient location, grain Zn concentration increased from 11 mg kg-1 to 22 mg kg-1 with foliar Zn application and to 27 mg kg-1 with a combined application of ZnSO4 to soil and foliar. In locations without soil Zn deficiency, combination of high N application with two times foliar Zn application (e.g., at the booting and milk stages) increased grain Zn concentration, on average, from 28 mg kg-1 to 58 mg kg-1. Both ICP-OES and LA-ICP-MS data showed that the increase in Zn concentration of whole grain and grain fractions was pronounced when Zn was sprayed at the late growth stage (e.g., milk and dough). LA-ICP-MS data also indicated that Zn was transported into endosperm through the crease phloem. To our knowledge, this is the first study to show that the timing of foliar Zn application is of great importance in increasing grain Zn in wheat, especially in the endosperm part that is the predominant grain fraction consumed in many countries. Providing a large pool of Zn in vegetative tissues during the grain filling (e.g., via foliar Zn spray) is an important practice to increase grain Zn and contribute to human nutrition. © 2010 American Chemical Society