1,331 research outputs found
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One size fits all: How many default funds does a pension scheme need?
In this paper, we analyse the number of default investment funds appropriate for an occupational defined contribution pension scheme. Using a unique dataset of member risk attitudes and characteristics from a survey of a large UK pension scheme, we apply cluster analysis to identify two distinct groups of members in their 40s and 50s. Further analysis indicated that the risk attitudes of the two groups were not significantly different, allowing us to conclude that a single lifestyle default fund is appropriate
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Grouping Individual Investment Preferences in Retirement Savings: A Cluster Analysis of a USS Members Risk Attitude Survey
Cluster analysis is used to identify homogeneous groups of members of USS in terms of risk attitudes. There are two distinct clusters of members in their 40s and 50s. One had previously ‘engaged’ with USS by making additional voluntary contributions. It typically had higher pay, longer tenure, less interest in ethical investing, lower risk capacity, a higher percentage of males, and a higher percentage of academics than members of the ‘disengaged’ cluster. Conditioning only on the attitude to risk responses, there are 18 clusters, with similar but not identical membership, depending on which clustering method is used. The differences in risk aversion across the 18 clusters could be explained largely by differences in the percentage of females and the percentage of couples. Risk aversion increases as the percentage of females in the cluster increases, while it reduces as the percentage of couples increases because of greater risk sharing within the household. Characteristics that other studies have found important determinants of risk attitudes, such as age, income and (pension) wealth, do not turn out to be as significant for USS members. Further, despite being on average more highly educated than the general population, USS members are marginally more risk averse than the general population, controlling for salary, although the difference is not significant
Radiocarbon Chronologies and Extinction Dynamics of the Late Quaternary Mammalian Megafauna of the Taimyr Peninsula, Russian Federation
This paper presents 75 new radiocarbon dates based on late Quaternary mammal remains recovered from eastern Taimyr Peninsula and adjacent parts of the northern Siberian lowlands, Russian Federation, including specimens of woolly mammoth (Mammuthus primigenius), steppe bison (Bison priscus), muskox (Ovibos moschatus), moose (Alces alces), reindeer (Rangifer tarandus), horse (Equus caballus) and wolf (Canis lupus). New evidence permits reanalysis of megafaunal extinction dynamics in the Asian high Arctic periphery. Increasingly, radiometric records of individual species show evidence of a gap at or near the Pleistocene/Holocene boundary (PHB). In the past, the PHB gap was regarded as significant only when actually terminal, i.e., when it marked the apparent ‘‘last’’ occurrence of a species (e.g., current ‘‘last’’ occurrence date for woolly mammoth in mainland Eurasia is 9600 yr BP). However, for high Arctic populations of horses and muskoxen the gap marks an interruption rather than extinction, because their radiocarbon records resume, nearly simultaneously, much later in the Holocene. Taphonomic effects, ΔC14 flux, and biased sampling are unlikely explanations for these hiatuses. A possible explanation is that the gap is the signature of an event, of unknown nature, that prompted the nearly simultaneous crash of many megafaunal populations in the high Arctic and possibly elsewhere in Eurasia.
Amblyrhiza and the Vertebrate Paleontology of Anguillean Caves
Recorded interest in the caves of Anguilla dates back to the second half of the nineteenth century. The earliest explorations were concerned with the locating phosphatic cave earths, and resulted in the mining of several sites. Incidental to this work, the bones of the largest island rodent ever discovered were collected from Aguillan caves. Whereas the phosphate mining operations were short-lived, the remains of the giant rodent Amblyrhiza have catalyzed a continued interest in the caves of Anguilla. The most recent series of explorations have provided the first adequate documentation of Amhlyrhiza fossil sites, and have started to yield radiometric dates
Detection of mitochondrial insertions in the nucleus (NuMts) of Pleistocene and modern muskoxen
<p>Abstract</p> <p>Background</p> <p>Nuclear insertions of mitochondrial sequences (NuMts) have been identified in a wide variety of organisms. Trafficking of genetic material from the mitochondria to the nucleus has occurred frequently during mammalian evolution and can lead to the production of a large pool of sequences with varying degrees of homology to organellar mitochondrial DNA (mtDNA) sequences. This presents both opportunities and challenges for forensics, population genetics, evolutionary genetics, conservation biology and the study of DNA from ancient samples. Here we present a case in which difficulties in ascertaining the organellar mtDNA sequence from modern samples hindered their comparison to ancient DNA sequences.</p> <p>Results</p> <p>We obtained mitochondrial hypervariable region (HVR) sequences from six ancient samples of tundra muskox (<it>Ovibos moschatus</it>) that were reproducible but distinct from modern muskox sequences reported previously. Using the same PCR primers applied to the ancient specimens and the primers used to generate the modern muskox DNA sequences in a previous study, we failed to definitively identify the organellar sequence from the two modern muskox samples tested. Instead of anticipated sequence homogeneity, we obtained multiple unique sequences from both hair and blood of one modern specimen. Sequencing individual clones of a >1 kb PCR fragment from modern samples did not alleviate the problem as there was not a consistent match across the entire length of the sequences to <it>Ovibos </it>when compared to sequences in GenBank.</p> <p>Conclusion</p> <p>In specific taxa, due to nuclear insertions some regions of the mitochondrial genome may not be useful for the characterization of modern or ancient DNA.</p
Body Size in Amblyrhiza inundata (Rodentia, Caviomorpha), an Extinct Megafaunal Rodent From the Anguilla Bank, West Indies: Estimates and Implications
Rodent species typically evolve larger mean body sizes when isolated on islands, but the extinct caviomorph Amblyrhiza inundata, known only from Quaternary cave deposits on the islands of Anguilla and St. Martin (northern Lesser Antilles), provides an unusually dramatic example of insular gigantism. Here we report on a series of body mass estimates for Amblyrhiza using predictive equations based on anteroposterior diameters and cortical cross-sectional areas of humeral and femoral diaphyses. Analyses of 14 isolated specimens (5 femoral, 9 humeral), all representing adult or near adult animals, yield body mass estimates ranging from slightly less than 50 kg to more than 200 kg. Body size estimates derived from humeral measurements are lower than those derived from femoral measurements, but the significance of this will remain unclear until matched limb bones (i.e., specimens from the same animal) are recovered. Incisor measurements are also highly variable, but in this case the distribution is demonstrably bimodal. Presence of multiple coeval species, temporal variation, limb heterogeneity, and sexual dimorphism all qualify as possible explanations of the variation encountered in Amblyrhiza data sets, but available samples are not adequate for making a robust choice among them. Body size affects many life history variables, including demography. Population estimates derived from empirical data and predictive equations suggest that only a few thousand individuals of Amblyrhiza could have occupied the islands of the Anguilla Bank at any one time during the Late Quaternary. At certain times-for example, during the last interglacial (Sangamonian) highstand-population numbers might have sunk to only a few hundred. Absolutely small population sizes of Amblyrhiza and severe fluctuations in island area during the late Quaternary surely affected its susceptibility to extinction, whether or not humans were ultimately responsible for the event (for which there is as yet no direct evidence)
Notoungulate caudal cranium.
69 pages : illustrations ; 26 cmThe composition of the caudal cranium in Notoungulata, an extinct group of endemic South American "ungulates," has never been properly clarified. Some investigators have claimed that so-called "adventitious" elements, or elements not known to occur in other placentals, existed in the auditory regions of certain typotheres and toxodontians. Others have disputed this, arguing that sutures or other indicia that supposedly provide evidence of the developmentally independent origins of these alleged ossifications are either misinterpreted or inconstant. This study attempts to resolve the question of composition, as far as it is possible to do in the case of a wholly extinct clade, with detailed micro-CT investigations of several key taxa, including Oldfieldthomasia (Oldfieldthomasiidae), Paedotherium (Hegetotheriidae), and Cochilius (Interatheriidae). Results show that Santiago Roth was incorrect in asserting that certain notoungulates, such as pachyrukhine hegetotheres, possessed cranial elements (serrialis, posttympanicum, etc.) that are unrepresented in other placentals. George Gaylord Simpson also thought Roth was wrong, but erred in claiming to have discovered concrete evidence of two other ossifications, denoted by him as Xa and Xp, in the auditory region of Oldfieldthomasia. In adult notoungulates the interparietal complex is usually fused with the parietal, or supraoccipital, or both elements. As in certain other mammals, dorsal exposure of the supraoccipital is limited in notoungulates because it is often overplated by the interparietal complex, which thus provides a sort of "second" roof for the caudal cranium. However, there is no interparietal involvement in the middle ear cavity. Finally, for the first time plausible grounds can be offered for the existence of an entotympanic in a notoungulate (Cochilius). Evidence is increasing for the proposition that entotympanics are much more widespread than previously thought, and may in fact be present in most of the major groups of placentals. In summary, this study shows that in terms of participating elements there is nothing unique about the notoungulate caudal cranium, which was evidently as tightly constrained compositionally as it is in other placentals. Nevertheless, this portion of the skull, still notably underutilized in notoungulate studies, could be a crucial source of new characters for assessing higher-level relationships not only among notoungulates, but also among South American ungulates and their possible relatives
Heptaxodontid basicrania and relationships.
70 p. : ill. (some col.) ; 26 cm.What, if much of anything, are "Antillean heptaxodontids"? Over the course of nearly a century and a half, these caviomorph rodents, with their distinctive quasilamellar cheek teeth and generally large body size, have been diversely regarded as members of Chinchilloidea, or Cavioidea, or Octodontoidea; as distinct enough to warrant their own family or subfamily, or as no more than an offshoot within Dinomyidae or Capromyidae; and as having diverged from other caviomorph clades as early as the Oligocene, or as recently as the late Neogene. Similar uncertainties concern the taxonomic content of the group. It has been repeatedly suggested that the Antillean Heptaxodontidae as usually organized may be paraphyletic, but no adequate character-based arguments have appeared that might form a strong basis for reassessment. This paper attempts to arrive at some serviceable solutions to the heptaxodontid problem by utilizing the character-rich domain of the auditory region. Thus Amblyrhiza inundata (St. Martin/Anguilla) and Elasmodontomys obliquus (Puerto Rico), the chief subjects of this contribution, have traditionally been regarded as closely related on the basis of dental features. Yet certain basicranial characters, analyzed here for the first time, reveal that Amblyrhiza possesses derived features of bullar development and middle-ear vascularization that are found in this specific combination only in Chinchilloidea. These features are also seen in the Mio-Pliocene Patagonian taxon Eumegamys, reinforcing the position that it belongs in this grouping as well. The basicranial morphology of Elasmodontomys is rather primitive, and where it should be placed cladistically remains indeterminate, although its likeliest position is within Octodontoidea. Although it is taken for granted that no single set of morphological features will satisfactorily capture relationships throughout a large group like Caviomorpha, the absence of basicranial characters in most morphology-based systematic discussions of these rodents is glaring. The results reported here, while suggestive in their own right, should now be tested against much larger datasets
Late Quaternary loss of genetic diversity in muskox (Ovibos)
BACKGROUND: The modern wildherd of the tundra muskox (Ovibos moschatus) is native only to the New World (northern North America and Greenland), and its genetic diversity is notably low. However, like several other megafaunal mammals, muskoxen enjoyed a holarctic distribution during the late Pleistocene. To investigate whether collapse in range and loss of diversity might be correlated, we collected mitochondrial sequence data (hypervariable region and cytochrome b) from muskox fossil material recovered from localities in northeastern Asia and the Arctic Archipelago of northern North America, dating from late Pleistocene to late Holocene, and compared our results to existing databases for modern muskoxen. RESULTS: Two classes of haplotypes were detected in the fossil material. "Surviving haplotypes" (SHs), closely similar or identical to haplotypes found in modern muskoxen and ranging in age from ~22,000 to ~160 yrbp, were found in all New World samples as well as some samples from northeastern Asia. "Extinct haplotypes" (EHs), dating between ~44,000 and ~18,000 yrbp, were found only in material from the Taimyr Peninsula and New Siberian Islands in northeastern Asia. EHs were not found in the Holocene muskoxen specimens available for this study, nor have they been found in other studies of extant muskox populations. CONCLUSION: We provisionally interpret this evidence as showing that genetic variability was reduced in muskoxen after the Last Glacial Maximum but before the mid-Holocene, or roughly within the interval 18,000-4,000 yrbp. Narrowing this gap further will require the recovery of more fossils and additional genetic information from this interval
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