Heritage, gentrification, participation : remaking urban landscapes in the name of culture and historic preservation : introduction

This special issue explores the relationship between heritagization, shifting economies, and urban struggles in different cities around the globe. Our aim is to examine the conditions that have brought history, culture, an old/new urban aesthetics, real estate values, and housing struggles in a relational nexus by looking at the ways in which differently-situated actors mobilize the language of cultural heritage to act upon urban spaces. Ideas of what constitutes a beautiful and livable city are changing along with capital accumulation strategies and urban social geographies. The growing heritagization of historic neighborhoods enables local governments and real-estate developers to engender massive spatial and social changes in the urban landscape. City authorities renovate last swaths of urban fabrics in the name of historic preservation and of the ‘common good’, but this often means that local residents are evicted while private developers allied with these authorities realize huge profits by ‘regenerating’ depressed areas. Yet, local residents also resort to the language of cultural heritage to combat the destruction of their urban worlds. What are the consequences for those who cannot afford to live in the newly restored quarters? What kinds of heritage rhetoric are being mobilized by involved actors? How do rooted political cultures shape the local instantiation of this globalizing phenomenon? Recent urban struggles in the Middle East and Europe reveal an inextricable link between heritagization, gentrification, and urban politics. We invite contributors to submit papers dealing with such links between heritagization and housing struggles, evictions, cultural capitalism, and changing urban aesthetics.

Style, Fees and Performance of Italian Equity Funds

Using a clustering procedure,we classify Italian funds ex-post on the basis of the composition of their portfolios and find that the optimal number of clusters is equal to 4. The four groups which result from the statistical classification closely match the 4-level aggregation of the 20 ex-ante categories used by the Italian mutual funds association. We then estimate the risk-adjusted performance of Italian equity funds, using both net and gross returns and employing both one-factor CAPM benchmarks and multi-factor benchmarks. In addition to the standard Jensen's a, we measure risk-adjusted performance using the Positive Period Weighting measure (PPW), which is not influenced by managers' market-timing strategy.Using net returns (calculated after management fees and taxes but before load fees) the Italian equity funds' performance is not significantly different from zero. However, when the funds'performance is evaluated on the basis of gross returns (i.e.returns computed adding back management fees paid each year by the funds), the performance of the Italian equity funds is always positive. In particular, when both a 2-index benchmark that takes account of the funds' investments in government bonds and a 5-factor APT benchmark are considered, performance is positive and significant using both Jensen's a and the PPW. This result supports Grossman and Stiglitz's (1980) view of market efficiency, suggesting that informed investors (investment funds) are compensated for their information gathering.mutual funds; performance measures; investment style; management fees; market timing

External validity of randomized controlled trials on Alzheimer's disease: the biases of frailty and biological aging

To date, the external validity of randomized controlled trials (RCTs) on Alzheimer's disease (AD) has been assessed only considering monodimensional variables. Nevertheless, looking at isolated and single characteristics cannot guarantee a sufficient level of appreciation of the AD patients' complexity. The only way to understand whether the two worlds (i.e., research and clinics) deal with the same type of patients is to adopt multidimensional approaches more holistically reflecting the biological age of the individual. In the present study, we compared measures of frailty/biological aging [assessed by a Frailty Index (FI)] of a sample of patients with AD resulted eligible and subsequently included in phase III RCTs compared to patients referring to the same clinical service, but not considered for inclusion. The "RCT sample" and the "real world sample" were found to be statistically similar for all the considered sociodemographic and clinical variables. Nevertheless, the "real world sample" was found to be significantly frailer compared to the "RCT sample," as indicated by higher FI scores [0.28 (SD 0.1) vs. 0.17 (SD 0.1);p < 0.001, respectively]. Moreover, when assessing the relationship between FI and age, we found that the correlation was almost null in the "RCT sample" (Spearman'sr = 0.01;p = 0.98), while it was statistically significant in the "real world sample" (r = 0.49;p = 0.02). The application of too rigid designs may result in the poor representativeness of RCT samples. It may even imply the study of a condition biologically different from that observed in the "real world." The adoption of multidimensional measures capable to capture the individual's biological age may facilitate evaluating the external validity of clinical studies, implicitly improving the interpretation of the results and their translation in the clinical arena

Cooperative Online Learning: Keeping your Neighbors Updated

We study an asynchronous online learning setting with a network of agents. At each time step, some of the agents are activated, requested to make a prediction, and pay the corresponding loss. The loss function is then revealed to these agents and also to their neighbors in the network. Our results characterize how much knowing the network structure affects the regret as a function of the model of agent activations. When activations are stochastic, the optimal regret (up to constant factors) is shown to be of order $\sqrt{\alpha T}$, where $T$ is the horizon and $\alpha$ is the independence number of the network. We prove that the upper bound is achieved even when agents have no information about the network structure. When activations are adversarial the situation changes dramatically: if agents ignore the network structure, a $\Omega(T)$ lower bound on the regret can be proven, showing that learning is impossible. However, when agents can choose to ignore some of their neighbors based on the knowledge of the network structure, we prove a $O(\sqrt{\overline{\chi} T})$ sublinear regret bound, where $\overline{\chi} \ge \alpha$ is the clique-covering number of the network

Social impact as an intangible driver in assessing economic value: an application to the italian third sector

Many studies have focused on Intellectual Capital (IC) applied to the Third Sector in the past few years. Despite the growing interest in intellectual capital in the field, the concept remains unclear. Few scholars and practitioners deal with the subject, however, as far as we know there are no studies that show the relationship between social impact generated by non-profit organizations and IC. This is the first study to be focused on this topic. This paper aims to fill the gap in the literature and demonstrate the relation between social impact and IC in the Social Work Integration Cooperatives (SWICs). This paper contributes to the literature by theoretically arguing that the measurement of social value improves SWICs’ economic value as a consequence of improvements of relationships and trust with external stakeholders (intangible assets). To ground our theoretical hypothesis, we measure the social impact value achieved by Italian SWICs through an aggregate analysis. That is the starting point and the findings can generate further research from both non-profit practitioners and scholars through the measurement of hypotheses over time

Nutrition and dementia: Evidence for preventive approaches?

In recent years, the possibility of favorably influencing the cognitive trajectory through promotion of lifestyle modifications has been increasingly investigated. In particular, the relationship between nutritional habits and cognitive health has attracted special attention. The present review is designed to retrieve and discuss recent evidence (published over the last 3 years) coming from randomized controlled trials (RCTs) investigating the efficacy of nutritional interventions aimed at improving cognitive functioning and/or preventing cognitive decline in non-demented older individuals. A systematic review of literature was conducted, leading to the identification of 11 studies of interest. Overall, most of the nutritional interventions tested by the selected RCTs were found to produce statistically significant cognitive benefits (defined as improved neuropsychological test scores). Nevertheless, the clinical meaningfulness of such findings was not adequately discussed and appears controversial. In parallel, only 2 studies investigated between-group differences concerning incident dementia and mild cognitive impairment cases, reporting conflicting results. Results of the present review suggest that several dietary patterns and nutritional components may constitute promising strategies in postponing, slowing, and preventing cognitive decline. However, supporting evidence is overall weak and further studies are needed