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全球资管观察（202601）
No full text全球主要大类资产普遍下跌; 中东资管市场快速增长; 数据中心已成为全球战略资产。“Selling America”的ETF策略发展技术中立视角下的全球代币化资产监管模式分析欧股市场回暖助力瑞银（UBS）资管业务增
全球资管观察（202601）
No full text全球主要大类资产普遍下跌; 中东资管市场快速增长; 数据中心已成为全球战略资产。“Selling America”的ETF策略发展技术中立视角下的全球代币化资产监管模式分析欧股市场回暖助力瑞银（UBS）资管业务增
Do humans learn like transformer networks?
No full textDo humans learn like transformers? We trained both humans and transformer networks on a rule learning task where they had to respond to a query at the end of a sequence of symbols (the context). At test, we measured both “in-context” learning (the ability to generalise the rule to novel queries) and “in-weights” learning (the recall of past experiences from memory). Manipulating the diversity and redundancy of examples in the training distribution, we found that humans and transformers respond in very similar ways. In both types of learner, redundancy and diversity trade off in driving in-weights and in-context learning respectively, whereas a composite distribution that includes a balanced mix of redundancy and diversity allows the two strategies to be used in tandem. However, we also found that while humans benefit from dynamic training schedules that emphasise diverse examples early on, transformers do not. So, whilst the same data distributional properties promote learning in humans and transformer networks, only people benefit from curricula
Understanding outlier opinions:Evidence from financial analysts
No full textWe study the impact of outlier opinions—extreme views voiced by individuals—in financial markets. Using analyst forecasts as a laboratory, we show that the arrival of an outlier forecast subsequently shifts group consensus and prompts more extreme forecasts from peers. Outlier forecasts also elicit stronger market reactions from investors, increased media coverage, and more conservative management guidance. Further analyses reveal that issuing outlier forecasts enhances an analyst's likelihood of being assigned to cover more prominent clients. Outlier forecasts are more prevalent when an analyst's reputation cost is low and information uncertainty is high. These findings suggest that an individual's outlier opinions, despite being rare and extreme, can generate a broad range of market reactions, and the tendency to express such views is situational, likely driven by personal career motives
Impact of non-coding RNAs (ncRNAs) on immune regulation and biological properties of primary or lymphoma-derived B cells associated with EBV and/or KSHV infection
No full textA subset of human lymphomas arises from infection by Epstein-Barr virus (EBV) and/or Kaposi's sarcoma-associated herpesvirus (KSHV). These herpesviruses manipulate the immune system, carrying out activities relevant to lymphomagenesis, potentially through the regulation of immune checkpoints (ICs). MicroRNAs (miRs) participate in various aspects of cancer biology, including its immunobiology. Based on transcriptome datasets and in silico analyses performed by our research group, we have identified hsa-miR-92a-3p as one of the most abundantly expressed endogenous miRs in Akata lymphoma cells, which are constitutively infected with EBV. Based on in silico analyses of public gene expression datasets, we identified that hsa-miR-92a-3p may be an important mediator in the regulation of immune responses by EBV, with repercussions on lymphoma pathogenesis. This study aims to investigate the possible role of hsa-miR-92a-3p in the regulation of IC molecules and in the properties of primary B cells and lymphoma cell lines infected with EBV and/or KSHV. Initially, the expression levels of hsa-miR-92a-3p and the IC profile will be validated in lymphoid cells cultured in vitro or ex vivo. Subsequently, the impact of this microRNA's inhibition on the functional properties of the cells will be assessed, including viability, proliferation, apoptosis, and cell migration. The results will be correlated with the obtained transcriptional expression profiles. Ultimately, we expect to elucidate the role of hsa-miR-92a-3p in the regulation of IC molecules and in the in vitro properties of B cells and lymphomas associated with EBV and/or KSHV. The study should provide a better understanding of lymphomagenesis associated with viral infection and data that may culminate in the identification of new therapeutic targets for these diseases
Reproducible code for the manuscript: A practical guide to proper estimation and inference of the Gini index by avoiding often encountered methodological pitfalls
No full textGini coefficient, inequality, unbiased estimator, variance estimation, bias correction.
Acknowledgements. This research is part of the project PID2022-136235NB-I00 funded by MICIU/AEI/10.13039/501100011033 and by ERDF/EU, and has also been supported by Ministerio de Ciencia e Innovación [grant number PID2021-128228NB-I00] and the Generalitat Valenciana [grant number CIAICO/2023/031
Mathematical performance and long-term memory for numbers
No full textMaterials and data from a study designed to test the relationship between numerical long-term memory and various mathematical skill
专用型人力资本的分工与协同——发明人与代理师经验如何驱动城市创新？
No full text创新驱动战略下，厘清“何种”人力资本及“何种机制”在驱动创新，是当前的重大命题。本文构建涵盖研发（R&D）和确权（IP）的区域创新生产理论框架，系统地探究两类专用型人力资本对区域创新的独立贡献、结构差异及其协同效应。基于2000-2020年中国344万件授权发明专利，本文采用“组织-成员”构建发明人与代理人的专利经验数据库，并自下而上加总构建了覆盖336个地级市的独特面板数据。实证结果显示：研发经验和IP经验均显著提升创新数量和质量，二者共同解释了绝大部分的城市创新增长（88%），其中研发经验是核心引擎，且二者存在显著的协同效应。进一步分析揭示，近年研发经验的创新贡献有所下降，IP经验和协同效应则在质量监管强化后增强；研发经验的创新贡献在国家级知识产权示范城市更大，而IP经验和协同效应反而更低。结论显示，区域创新政策推动“投资于人”时必须超越“唯人数论”，其核心抓手在于优化专用型人力资本结构并强化其功能互补
