20,400 research outputs found
A New Experimental Pulp Digester Installation with Separate Steam Supply
Part I
Literature Survey
Up to now, few articles have been written on the subject of Experimental Pulp Digester Installations. In our searches we have been able to find information concerning only The Pulp and Paper Research Institute of Canada in Montreal, P.Q., Canada, The Chemical Pulp Experimental Department of the Central Laboratory in Finland, and a sulfite digester for research and instruction at the University of Washington at Seattle, Washington, U.S.A
A smoke screen theory of financial intermediation
This paper explores the role of diversification and size in protecting information. We present a simple two period credit market with a sophisticated lender faced with competitors who free ride on his screening activity. Absent commitment problems, the lender funds one borrower and exerts optimal evaluation. When borrowers cannot commit to a long term relationship, the free riding problem is responsible for too little evaluation. We show how this problem can be mitigated by simultaneously financing several borrowers. This effect provides a rationale for intermediaries as an `information garbling' device.financial intermediation, informational rent, asymmetric information, free riding, diversification.
Martian Fluid Evolution Recorded in Smectite from the Northwest Africa (Nwa) 817 Nakhlite Meteorite [abstract]
No abstract available
A Smoke Screen Theory of Financial Intermediation
This paper analyzes a stylized (two period) credit market where investors care about the appropriability of the information they produce when they engage in costly ex ante evaluation of borrowers quality. We show that diversified intermediation arises as a dissimulation mechanism allowing investors to extract informational rents in the second period, thereby mitigating the underlying appropriability problem.Financial intermediation ; informational rent ; asymmetric information ; free riding ; diversification
On the limiting law of the length of the longest common and increasing subsequences in random words
Let and be two sequences of independent
and identically distributed (iid) random variables taking their values,
uniformly, in a common totally ordered finite alphabet. Let LCI be the
length of the longest common and (weakly) increasing subsequence of and . As grows without bound, and when properly
centered and normalized, LCI is shown to converge, in distribution, towards
a Brownian functional that we identify.Comment: Some corrections from the published version are provided, some typos
are also correcte
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