A Tractable Term Structure Model with Endogenous Interpolation and Positive Interest Rates

This paper presents the one- and the multifactor versions of a term structure model in which the factor dynamics are given by Cox/Ingersoll/Ross (CIR) type "square root" diffusions with piecewise constant parameters. The model is fitted to initial term structures given by a finite number of data points, interpolating endogenously. Closed form and near-closed form solutions for a large class of fixed income contingent claims are derived in terms of a noncentral chi-square distribution whose noncentrality parameter is in turn noncentral chi-square distributed. Implementation details on this distribution are given in the appendix.term structure of interest rates, fixed income derivatives, square root process, chi-square distribution

iSchools in Central and South Europe: Developments and Challenges of Cooperation

The countries of Central and South Europe entered the 2000s with plans to restructure their higher education systems based on Bologna recommendations and some other EU supported guidelines. The Humboldt tradition at the universities in the region, necessity to introduce new academic profiles as well as the use of ICT in higher education, is leading the way towards the restructuring of existing programs or designing new curricula and to cooperation between the LIS and IS departments in the region. This panel will address the special concerns for restructuring curricula in the wider information sciences field (Library and Information Science - LIS, Information Science ??? IS, Records Management ??? RM, education for digital services etc) Panelists will address three questions with respect to i-schools developments and trends in their respective countries: ??? What are the basic concerns in developing new curricula in their respective countries? ??? How do the multidisciplinary and interdisciplinary issues influence curricula design in IS? ??? What are the future steps, particularly in regard to regional cooperation? After each of the panelists will have presented his position concerning these three questions, they will discuss especially the issues on inter-/multidisciplinarity and on future regional cooperation. The audience of the panel discussion is invited to join this discussion

Automated data-driven creation of the Digital Twin of a brownfield plant

The success of the reconfiguration of existing manufacturing systems, so called brownfield systems, heavily relies on the knowledge about the system. Reconfiguration can be planned, supported and simplified with the Digital Twin of the system providing this knowledge. However, digital models as the basis of a Digital Twin are usually missing for these plants. This article presents a data-driven approach to gain knowledge about a brownfield system to create the digital models of a Digital Twin and their relations. Finally, a proof of concept shows that process data and position data as data sources deliver the relations between the models of the Digital Twin.Comment: 7 Pages, 5 figures. Accepted at IEEE ETFA 202

Early development of gaze following into distant space in juvenile Greylag geese ( Anser anser )

Visual co-orientation with another's gaze direction (gaze following) may provide important information about the location of food, social interactions or predators. Gaze following has been shown in a variety of mammals, but only in few bird species, and has not been tested in precocial birds at all. It has been suggested that gaze following is an anti-predator behaviour, and in Common ravens (Corvus corax) and rooks (C. frugilegus), it emerges shortly after fledging, at a time when young birds leave the predator-safe nest. However, if gaze following is adaptive, the developmental pattern should differ between altricial and precocial birds. Greylag geese (Anser anser) are highly social birds with a precocial development. Goslings move and feed independently within 24h post-hatching, and they are highly vulnerable to aerial predators. We therefore predicted that greylag geese are capable of gaze following and that they develop this skill already pre-fledging. We experimentally tested 19 hand-raised greylag goslings for their ability to follow a conspecific's gaze when they were between 10days and 6weeks old. In line with our predictions, first responses were already detectable in 10-day-old goslings. Our results therefore not only demonstrate that greylag geese follow the gaze of conspecifics into distant space, but that they also develop this ability much earlier than altricial bird

Lichen planus – a clinical guide

Lichen planus (LP) is a chronic lichenoid inflammatory disorder of the skin, mucosa and of the appendages. LP is classically characterized by the presence of a rich infiltration of inflammatory T cells, which migrate in the upper part of the dermis, arranged in a band-like pattern. Different sub types of the disease have been so far described. Albeit LP is clinically well defined, the disease still represents a therapeutic enigma. Especially with regard to mucosal or scalp affecting LP types, which often present a recalcitrant and treatment unresponsive course, efficacious therapeutic options are still lacking. Thus, LP represents a disease with a high psychosocial burden. Yet, development in the deciphering of LP pathogenesis reveals possible new druggable targets, thus paving the way for future therapeutic options. In this clinical guide, we summarize the current clinical knowledge and therapeutic standards and discuss the future perspective for the management of LP

Grey parrots use inferential reasoning based on acoustic cues alone

Our ability to make logical inferences is considered as one of the cornerstones of human intelligence, fuelling investigations of reasoning abilities in non-human animals. Yet, the evidence to date is equivocal, with apes as the prime candidates to possess these skills. For instance, in a two-choice task, apes can identify the location of hidden food if it is indicated by a rattling noise caused by the shaking of a baited container. More importantly, they also use the absence of noise during the shaking of the empty container to infer that this container is not baited. However, since the inaugural report of apes solving this task, to the best of our knowledge, no comparable evidence could be found in any other tested species such as monkeys and dogs. Here, we report the first successful and instantaneous solution of the shaking task through logical inference by a non-ape species, the African grey parrot. Surprisingly, the performance of the birds was sensitive to the shaking movement: they were successful with containers shaken horizontally, but not with vertical shaking resembling parrot head-bobbing. Thus, grey parrots seem to possess ape-like cross-modal reasoning skills, but their reliance on these abilities is influenced by low-level interferences

The Self-Paced Graz Brain-Computer Interface: Methods and Applications

We present the self-paced 3-class Graz brain-computer interface (BCI) which is based on the detection of sensorimotor electroencephalogram (EEG) rhythms induced by motor imagery. Self-paced operation means that the BCI is able to determine whether the ongoing brain activity is intended as control signal (intentional control) or not (non-control state). The presented system is able to automatically reduce electrooculogram (EOG) artifacts, to detect electromyographic (EMG) activity, and uses only three bipolar EEG channels. Two applications are presented: the freeSpace virtual environment (VE) and the Brainloop interface. The freeSpace is a computer-game-like application where subjects have to navigate through the environment and collect coins by autonomously selecting navigation commands. Three subjects participated in these feedback experiments and each learned to navigate through the VE and collect coins. Two out of the three succeeded in collecting all three coins. The Brainloop interface provides an interface between the Graz-BCI and Google Earth