C*-algebras associated to Boolean dynamical systems

The goal of this talk is to present the C*-algebra $C^*(\mathcal{B}, \mathcal{L}, \theta)$ of a Boolean dynamical system $(\mathcal{B}, \mathcal{L}, \theta)$, that generalizes the $C^*$-algebra associated to a labelled graph introduced by Bates and Pask, and to determine its simplicity, its gauge invariant ideals, as well as compute its K-Theory. This is a joint work with Toke Meier Carlsen (Department of Science and Technology, University of the Faroe Islands) and Eduard Ortega (Department of Mathematical Sciences, NTNU Trondheim).Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

A Note On Optimal Insurance in an Information Constrained Federal Economy with Incomplete Degree of Enforceability and Negotiation Costs

This paper studies the constrained efficient intergovernmental transfer contract between the central government and the states in a federal economy. We consider an environment with moral hazard, incomplete enforceability and date 0 negotiation costs. The interaction of moral hazard and incomplete enforceability may imply that when the state’s resources are ”low enough”, it is constrained efficient that the state gets a lower utility level than in autarky. When negotiation costs are considered, the state might not accept the contract. More importantly, the possibility of whether accepting or not is not monotonically determined by the state’s fiscal situation.

Too good to be true : asset pricing implications of pessimism

We evaluate whether the introduction of pessimistic homogeneous beliefs in the frictionless Lucas-Mehra-Prescott model and the Kehoe-Levine-Alvarez-Jermann model with endogenous bor- rowing constraints, helps explain the equity premium, the risk-free rate and the equity volatility puzzles as well as the short-term momentum and long-term reversal of excess returns. We cal- ibrate the model to U.S. data as in Alvarez and Jermann [4] and we find that the data does not contradict the qualitative predictions of the models. When the preferences parameters are disciplined to match both the average annual risk-free rate and equity premium, the Lucas-Mehra- Prescott model gives a more quantitatively accurate explanation for short-term momentum than the Kehoe-Levine-Alvarez-Jermann model but the latter gives a more quantitatively accurate ex- planation for the equity volatility puzzle. Long-term reversal remains quantitatively unexplained in both models

Microarrays as a functional approach to the transcriptome

Knowing a cell’s transcriptome is a fundamental requisite in order to analyze its response to the environment. Microarrays have supposed a revolution on this field as they are able to yield an overview of gene expression at any environmental condition on a genome-wide scale. This technique consists in the hybridisation of a nucleic acid sample, previously marked, with a probe (which might be made up of cDNA, oligonucleotides or PCR products) anchored to a solid surface (made of glass, plastic, silicon...) giving as a result a dot grid which reveals, after image analysis, which genes are being expressed. Nevertheless, this only can be achieved if information on the species genome has been generated. Different kinds of expression microarrays exist attending to the probe’s nature and the method used in its synthesis. In this poster two of these will be treated: Spotted Microarrays, for which the probe is synthesised prior to its fixation to the array and allow the analysis of two targets simultaneously. They can be easily customized, but lack high reproducibility and sensitivity. Oligonucleotide Microarrays, which are characterized by the direct printing of the probe on the array. In this case the probes consist on, invariably, oligonucleotides that are complementary to a small fraction of the gene it is representing at the microarray. Their application is somewhat restricted. This fact, however, makes them more reproducible. Currently, the approach towards the transcriptome studies from the Next Generation Sequencing technologies offers a large volume of information in a short amount of time needing less previous information on the target organism than that needed by microarrays, but their expensive price limits their use. The versatility of the latter, together with their reduced costs in comparison to other techniques, makes them an interesting resource in applications that may need less complexity

Risk sharing, investment, and incentives in the neoclassical growth model

We first study growth and risk sharing in a stochastic growth model with preference shocks and two risk-averse agents. In periods in which one of the agents needs extra consumption (insurance), it is socially optimal to reduce the consumption of the other agent (redistribution) and also to accumulate fewer resources for the future (disinvestment). The latter hurts growth while the former only affects the distribution of aggregate consumption. Then, to analyze if information matters, we study if the same allocation would be implementable under private information. We find that it depends on the state of the economy. The provision of insurance that is implemented by reducing capital accumulation deteriorates the prospects of all agents in the economy and thus helps to alleviate informational frictions. The size of redistribution versus disinvestment and the outlook of economic growth at the time of disinvestment affects the possibilities of implementing the best possible allocation when the preference shock is private information. Therefore, we conjecture that under private information the best allocation compatible with incentives would tend to hurt growth and to concentrate resources in agents with private information in order to provide incentives to report the shock truthfully.Business cycles ; Economic growth

Influence of temperature on high molecular weight poly(lactic acid) stereocomplex formation

The influence of temperature on the formation of high molecular weight poly(lactic acid) (PLA) stereocomplex was studied by evaluation of the precipitates from dioxane solutions of PLA enantiomers (PLLA and PDLA). The racemic mixtures were characterized by Gel Permeation Chromatography, Infrared Spectroscopy, Differential Scanning Calorimetry, Scanning Electronic Microscopy, Wide-Angle X-ray Scattering and Vicat Softening Temperature. Precipitation was carried out under different solution temperatures, keeping constant the mixing ratio (XD), the molecular weight, the optical purity of both PLA enantiomers and the stirring rate. It was found that the precipitates contained only pure stereocomplex crystallites (racemic crystallites), without observing crystal phase separation between both homocrystals. The kinetics of the insoluble phase formation could be adjusted with the Avrami model, classically used for polymer crystallization in molten state. It was observed that the maximum PLA stereocomplex production rate was at about 40°C. However, more thermally stable racemic crystallites were formed at high solution temperatures. It was found that all the precipitates were sphere-like at 10 g·dl–1 at the solution temperature of 25, 40, 60 and 80°CPeer ReviewedPostprint (author's final draft

Indirect ELISA for Detection of Fascioliasis IgG Antibodies in Human Sera

Currently, coprological examination based on egg detection in stool samples is used as the most ideal standard for the diagnosis of human fascioliasis. However, this method has been proven not to be adequate when being employed in the acute phase of the disease, and presents a poor sensitivity during the chronic phase. Serodiagnosis has become an excellent alternative to coprological examination in efforts to combat the effects of fascioliasis on human and animal health. Human fascioliasis is usually recognized as an infection of the bile ducts and liver caused by Fasciola hepatica, known to affect over 2 million humans. In this research, Indirect Enzyme-linked Immunosorbent Assay (ELISA) was performed to discern between positive and negative IgG antibody titers in sera in collaboration with a lab in Peru. A batch of approximately 325 samples of human sera of endemic Fasciola hepatica from regions in Peru was gathered and sent to the laboratory in order to be examined with the method explained in the following paragraph. In the search for a test for the diagnosis of fascioliasis on humans, indirect ELISA started to be employed in order to determine positive and negative values. In the indirect ELISA test, the sample antibody is sandwiched between the antigen coated on the plate and an enzyme-labeled, anti-species globulin conjugate. The addition of an enzyme substrate-chromogen reagent causes color to develop. This color is directly proportional to the amount of bound sample antibody. The more antibody present in the sample, the stronger the color development in the test wells. Positive samples presented a very strong optical density value, while negative samples were clear or low optical density value, measured with the aid of a spectrophotometer