2,633 research outputs found
On the cost of delayed currency fixing announcements
No full textIn Foreign Exchange Markets vanilla and barrier options are traded frequently. The market standard is a cutoff time of 10:00 a.m. in New York for the strike of vanillas and a knock-out event based on a continuously observed barrier in the inter bank market. However, many clients, particularly from Italy, prefer the cutoff and knock-out event to be based on the fixing published by the European Central Bank on the Reuters Page ECB37. These barrier options are called discretely monitored barrier options. While these options can be priced in several models by various techniques, the ECB source of the fixing causes two problems. First of all, it is not tradable, and secondly it is published with a delay of about 10 - 20 minutes. We examine here the effect of these problems on the hedge of those options and consequently suggest a cost based on the additional uncertainty encountered. --exotic options,currency fixings
Evading a Multitasking Bottleneck:Presenting Intermediate Representations in the Environment
No full textWhen people have to store intermediate results for multiple tasks concurrently, performance decreases considerably as opposed to when at most one intermediate result has to be stored. Borst, Taatgen and Van Rijn (2010) have shown that a multitasking bottleneck associated with intermediate problem representations can account for this effect. This study investigates whether representing problem representations externally reduces the interference. To this end we extended the experiment in Borst et al. (2010) with a version that required no problem representation. The results show that there is an over-additive increase in response times when both tasks need to store an intermediate representation, as compared to a situation in which at most one task requires an intermediate representation, either because no intermediate representation is needed, or because the intermediate representation is available on the screen. These results suggest that multitasking performance can be improved by presenting intermediate representations in the environment.</p
Evading a Multitasking Bottleneck:Presenting Intermediate Representations in the Environment
No full textWhen people have to store intermediate results for multiple tasks concurrently, performance decreases considerably as opposed to when at most one intermediate result has to be stored. Borst, Taatgen and Van Rijn (2010) have shown that a multitasking bottleneck associated with intermediate problem representations can account for this effect. This study investigates whether representing problem representations externally reduces the interference. To this end we extended the experiment in Borst et al. (2010) with a version that required no problem representation. The results show that there is an over-additive increase in response times when both tasks need to store an intermediate representation, as compared to a situation in which at most one task requires an intermediate representation, either because no intermediate representation is needed, or because the intermediate representation is available on the screen. These results suggest that multitasking performance can be improved by presenting intermediate representations in the environment.</p
Evading a Multitasking Bottleneck:Presenting Intermediate Representations in the Environment
No full textWhen people have to store intermediate results for multiple tasks concurrently, performance decreases considerably as opposed to when at most one intermediate result has to be stored. Borst, Taatgen and Van Rijn (2010) have shown that a multitasking bottleneck associated with intermediate problem representations can account for this effect. This study investigates whether representing problem representations externally reduces the interference. To this end we extended the experiment in Borst et al. (2010) with a version that required no problem representation. The results show that there is an over-additive increase in response times when both tasks need to store an intermediate representation, as compared to a situation in which at most one task requires an intermediate representation, either because no intermediate representation is needed, or because the intermediate representation is available on the screen. These results suggest that multitasking performance can be improved by presenting intermediate representations in the environment.</p
Evading a Multitasking Bottleneck:Presenting Intermediate Representations in the Environment
No full textWhen people have to store intermediate results for multiple tasks concurrently, performance decreases considerably as opposed to when at most one intermediate result has to be stored. Borst, Taatgen and Van Rijn (2010) have shown that a multitasking bottleneck associated with intermediate problem representations can account for this effect. This study investigates whether representing problem representations externally reduces the interference. To this end we extended the experiment in Borst et al. (2010) with a version that required no problem representation. The results show that there is an over-additive increase in response times when both tasks need to store an intermediate representation, as compared to a situation in which at most one task requires an intermediate representation, either because no intermediate representation is needed, or because the intermediate representation is available on the screen. These results suggest that multitasking performance can be improved by presenting intermediate representations in the environment.</p
Evading a Multitasking Bottleneck:Presenting Intermediate Representations in the Environment
No full textWhen people have to store intermediate results for multiple tasks concurrently, performance decreases considerably as opposed to when at most one intermediate result has to be stored. Borst, Taatgen and Van Rijn (2010) have shown that a multitasking bottleneck associated with intermediate problem representations can account for this effect. This study investigates whether representing problem representations externally reduces the interference. To this end we extended the experiment in Borst et al. (2010) with a version that required no problem representation. The results show that there is an over-additive increase in response times when both tasks need to store an intermediate representation, as compared to a situation in which at most one task requires an intermediate representation, either because no intermediate representation is needed, or because the intermediate representation is available on the screen. These results suggest that multitasking performance can be improved by presenting intermediate representations in the environment.</p
Evading a Multitasking Bottleneck:Presenting Intermediate Representations in the Environment
No full textWhen people have to store intermediate results for multiple tasks concurrently, performance decreases considerably as opposed to when at most one intermediate result has to be stored. Borst, Taatgen and Van Rijn (2010) have shown that a multitasking bottleneck associated with intermediate problem representations can account for this effect. This study investigates whether representing problem representations externally reduces the interference. To this end we extended the experiment in Borst et al. (2010) with a version that required no problem representation. The results show that there is an over-additive increase in response times when both tasks need to store an intermediate representation, as compared to a situation in which at most one task requires an intermediate representation, either because no intermediate representation is needed, or because the intermediate representation is available on the screen. These results suggest that multitasking performance can be improved by presenting intermediate representations in the environment.</p
Aura Satz in conversation with Christoph Cox, April/May 2017
No full textA conversation between Aura Satz and Christoph Cox, exploring sirens and emergency signals, acoustic ecology, and economies of attention. Aura Satz is a film-maker and sound artist who has performed, exhibited and screened her work nationally and internationally, including at Tate Modern; Oberhausen Short Film Festival (Oberhausen); the Rotterdam Film Festival (Rotterdam); the New York Film Festival (NY); Gallery 44 (Toronto); InterCommunication Centre (Tokyo) and the Sydney Biennale. In 2012, she was shortlisted for the Samsung Art+ Award and the Jarman Award. She teaches at the Royal College of Art, London. She was in conversation with Christoph Cox, a philosopher, critic, and curator who teaches at Hampshire College in Amherst, Massachusetts. He is the author of Sonic Flux: Sound, Art, and Metaphysics (University of Chicago Press, forthcoming) and Nietzsche: Naturalism and Interpretation (University of California Press, 1999), and co-editor of Realism Materialism Art (Sternberg, 2015) and Audio Culture: Readings in Modern Music (Continuum, 2004/Bloomsbury, 2017). Cox is editor-at-large at Cabinet magazine. His writing has appeared in numerous journals including October, Artforum, Journal of the History of Philosophy, Journal of Visual Culture, The Review of Metaphysics. He has curated exhibitions at the Contemporary Arts Museum Houston, The Kitchen, CONTEXT Art Miami and other venues
Private Equity und Familienunternehmen: eine Untersuchung unter besonderer Berücksichtigung deutscher Maschinen- und Anlagenbauunternehmen
No full textDespite the common view that there is inherently a relationship of confliction, it is now impossible to imagine the financing of family-owned enterprises in Germany without the alternative method of Private Equity financing. Based on a survey on Private Equity in family owned companies specialising in the mechanical engineering sector, this working paper identifies that Private Equity in general is not as unwanted as once assumed. Overall more than 3/4 of the surveyed companies do not exclude investment capital. However, the study demonstrates that the time of large buy-outs is arguably up, and minority capital has now come into vogue. This working paper examines, from the viewpoint of the managing directors of the studied companies, the conceptions and beliefs held by such persons about Private Equity. Generally speaking, besides loss of control, managing directors primarily fear Private Equity because of exaggerated returns on investment at the expense of the long-term development of the company. On the other hand, this paper also highlights that managing directors expect that Private Equity can have a positive element as it can enable bank independence, especially at a time when it becomes increasingly difficult to maintain creditworthiness. Further, this paper analyses the relationship between the managing director of the family enterprise and the Private Equity investor. Because of the special situation of the managing director in a family owned company, trust between that person and the Private Equity investor is one of the most important factors. If there is a lack of trust the business relation is troubled from the start. --Private equity,buyout,family owned enterprises,minority capital,credit crisis,MBO,MBI,return on investments,LBO,leveraged finance,M&A
Establishment and characterization of two distinct malignant mesothelioma cell lines with common clonal origin
No full textWe describe two newly established malignant mesothelioma (MM) cell lines derived from a pleural effusion of a male. One cell line, designated as MM-Z03E, reveals an epithelioid cobblestone morphology, while the second one, designated as MM-Z03S and subcloned after in vivo selection, exhibits a sarcomatoid storiform growth pattern. Both cell lines showed the immunologic profile characteristic for MM (i.e., expression of cytokeratin, CK18, calretinin, and vimentin in both phenotypes). Cytogenetics, multicolor fluorescence in situ hybridization, comparative genomic hybridization, and oligonucleotide array CGH were performed on both cell lines. Aberrations shared by both cell lines included chromosomal losses of 1q34 similar to qter, 4, 9p, 10p, 13, 14, 16q, 18, and 22, as well as a complex structural aberration involving chromosome 17. Aberrations exclusive to MM-Z03E included gains of 3q11q27 and 5p, while gain of 9q and losses of 3q27qter, 11q, and 18 in MM-Z03S were exclusive to MM-Z03E. Both cell lines were able to develop solid transplant tumors in nude mice within 16 weeks, and immunophenotyping of tumor xenografts revealed an overall retained expression profile of the markers used. Remarkably, one xenograft from MM-Z03E revealed overexpression of p53 and widely invasive growth. In conclusion, both cell lines are useful in vivo and in vitro model systems to study the underlying genetic mechanisms of biphasic differentiation in MM, which can be of certain value considering the increasing relevance of assessing MM tumor biology for the clinical management of this disease. (c) 2007 Elsevier Inc. All rights reserved
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