The role and nature of market sentiment in the 1992 ERM crisis.

This paper attempts to explain the importance of the role of the speculators in determining the 1992 ERM crisis, and the effects that the policy of maintaining external parity had on internal growth. We focus on a different way through which expectations are formed about the macroeconomic fundamentals independently of the behaviour of the monetary policy. In the present model, agents’ rational beliefs do not emerge from arbitrary circumstances but only when the value of the exchange rate, kept under control by the central bank, did not correspond to the expected value and to the current wide-spread beliefs in the market

How do impulsivity traits influence problem gambling through gambling motives? The role of perceived gambling risk/benefits.

Although substantial research suggests that motivations have been found to mediate the relationships between impulsivity traits and various forms of substance use, no studies have examined how gambling motives may mediate the relationships between impulsivity traits and problem gambling. The primary purpose of this study was to test an integrative model linking impulsivity traits and gambling problems, evaluating the mediating effects of gambling motives. Participants were 594 students (73% male; mean age =19.92; SD=2.91) enrolled in public high schools or universities. Young people who tend to act rashly in response to extremely positive moods, showed higher enhancement and coping motives, which in turn were positively related to gambling problems. Individuals with higher levels of sensation seeking were more likely to have higher levels of enhancement motives, which in turn were also positively related to gambling problems. The model was examined in several groups, separately for the level of perceived gambling risk/benefits (lower perceived gambling risk, higher perceived gambling risk, lower perceived gambling benefits, and higher perceived gambling benefits). There were significant differences between these groups for this division. These findings suggest that prevention and/or treatment strategies might want to consider the model’s variables, including impulsivity traits and gambling motives, in accordance with individual levels of perceived gambling risk/benefits

Impact of Internet gambling on problem gambling among adolescents in Italy: Findings from a large-scale nationally representative survey

Aims: The primary aim of the present study was to understand the impact of online gambling on gambling problems in a large-scale nationally representative sample of Italian youth, and to identify and then further examine a subgroup of online gamblers who reported higher rates of gambling problems. Design: Data from the ESPAD®Italia2013 (European School Survey Project on Alcohol and Other Drugs) Study were used for analyses of adolescent Internet gambling. Setting: Self-administered questionnaires were completed by a representative sample of high school students, aged 15–19 years. Participants: A total of 14,778 adolescent students. Measurements: Respondents’ problem gambling severity; gambling behavior (participation in eight different gambling activities, the number of gambling occasions and the number of online gambling occasions, monthly gambling expenditure); Socio-demographics (e.g., family structure and financial status); and control variables were measured individually (i.e., use of the Internet for leisure activities and playing video games). Findings: Rates of problem gambling were five times higher among online gamblers than non-online gamblers. In addition, factors that increased the risk of becoming a problem online gambler included living with non-birth parents, having a higher perception of financial family status, being more involved with gambling, and the medium preferences of remote gamblers (e.g., Internet cafes, digital television, and video game console). Conclusions: The online gambling environment may pose significantly greater risk to vulnerable players. Family characteristics and contextual elements concerning youth Internet gambling (e.g., remote mediums) may play a key role in explaining problem online gambling among adolescents

From weighted to unweighted graphs in Synchronizing Graph Theory

A way to associate unweighted graphs from weighted ones is presented, such that linear stable equilibria of the Kuramoto homogeneous model associated to both graphs coincide, i.e., equilibria of the system $\dot\theta_i = \sum_{j \sim i} \sin(\theta_{j}-\theta_j)$, where $i\sim j$ means vertices $i$ and $j$ are adjacent in the corresponding graph. As a consequence, the existence of linearly stable equilibrium is proved to be NP-Hard as conjectured by R. Taylor in 2015 and a new lower bound for the minimum degree that ensures synchronization is found

Morrey type spaces and multiplication operator in Sobolev spaces

The paper deals with the operator $u\rightarrow gu$ defined in the Sobolev space $W^{r,p}(\Omega)$ and which takes values in $L^p(\Omega)$ when $\Omega$ is an unbounded open subset in $R^n$. The functions $g$ belong to wider spaces of $L^p$ connected with the Morrey type spaces. $L^p$ estimates and compactness results are stated

Analytic approach to solve a degenerate parabolic PDE for the Heston Model

We present an analytic approach to solve a degenerate parabolic problem associated to the Heston model, which is widely used in mathematical finance to derive the price of an European option on an risky asset with stochastic volatility. We give a variational formulation, involving weighted Sobolev spaces, of the second order degenerate elliptic operator of the parabolic PDE. We use this approach to prove, under appropriate assumptions on some involved unknown parameters, the existence and uniqueness of weak solutions to the parabolic problem on unbounded subdomains of the half-plane

The extent and distribution of gambling-related harms and the prevention paradox in a British population survey

Objectives: To examine whether the "prevention paradox" applies to British individuals in relation to gambling- related harm. Methods: Data were derived from 7,756 individuals participating in the British Gambling Prevalence Survey 2010, a comprehensive interview-based survey conducted in Great Britain between November 2009 and May 2010. Gambling-related harm was assessed using an adapted version of the DSM-IV Pathological Gambling criteria. The previous year’s prevalence of problem gamblers was examined using the Problem Gambling Severity Index. Gambling involvement was measured by gambling frequency and gambling participation (gambling volume as expressed by time and money spent gambling). Results: The prevalence rates for past-year gambling harms were dependence harm (16.4%), social harm (2.2%), and chasing losses (7.9%). Gambling-related harms were distributed across low- to moderate-risk gamblers (and not limited to just problem gamblers) and were reported by the majority of gamblers who were non-high time and spend regular gamblers than high time and spend regular gamblers. Conclusions: The prevention paradox is a promising way of examining gambling-related harm. This suggests that prevention of gambling might need to consider the population approach to minimizing gambling harm

Arthropod-Borne Disease Control at a Glance: What's New on Drug Development?

Discovering and validating effective drugs to manage arthropod-borne diseases (ABD) is a timely and important research challenge with major impacts on real-world control programs at the time of quick resistance development in the targeted pathogens. This editorial highlights major research advances in the development of drugs for the control of vector-borne diseases, with a significant focus on malaria, Chagas disease, dengue, human African trypanosomiasis, leishmaniasis, and Zika. Broad reviews providing new insights on ABD recently published in Molecules have also been covered in "The Editors' pick" section

Lysenko and the screwworm fly—when politics interferes with science and public health

In the One Health scenario, a deep understanding of the dynamics potentially threatening the development and implementation of useful pest and vector management tools is of key importance. The New World screwworm fly, Cochliomyia hominivorax (Coquerel) (Diptera: Calliphoridae), is characterized by a wide host range. It acts as an important agent of myiasis in humans and warm-blooded animals in the Neotropics, and has been eliminated from a wide region through genetic methods. Of note, Serebrovsky had already proposed in 1940 the principles of autocidal control by the translocation of segments between two chromosomes, but his work was negated by Lysenko, based on the negation of Mendelian genetics. This entomological case study emphasizes the danger of politics interfering with science, a still contemporary hot issue. The negation of global warming or current pandemics are further examples of this noxious influence