Search results for "ExPEC"

Weibull Model for Dynamic Pricing in e-Business

2011

As is the case with traditional markets, the sellers on the Internet do not usually know the demand functions of their customers. However, in such a digital environment, a seller can experiment different prices in order to maximize his profits. In this paper, we develop a dynamic pricing model to solve the pricing problem of a Web-store, where seller sets a fixed price and buyer either accepts or doesn’t buy. Frequent price changes occur due to current market conditions. The model is based on the two-parameter Weibull distribution (indexed by scale and shape parameters), which is used as the underlying distribution of a random variable X representing the amount of revenue received in the sp…

Contractivity results in ordered spaces. Applications to relative operator bounds and projections with norm one

2016

This paper provides various “contractivity” results for linear operators of the form I−C where C are positive contractions on real ordered Banach spaces X. If A generates a positive contraction semigroup in Lebesgue spaces Lp(μ), we show (M. Pierre's result) that A(λ−A)−1 is a “contraction on the positive cone”, i.e. A(λ−A)−1x≤x for all x∈L+p(μ)(λ>0), provided that p⩾2.  We show also that this result is not true for 1 ⩽ p<2. We give an extension of M. Pierre's result to general ordered Banach spaces X under a suitable uniform monotony assumption on the duality map on the positive cone X+. We deduce from this result that, in such spaces, I−C is a contraction on X+ for any positive projection…

A rational expectations model for simulation and policy evaluation of the Spanish economy

2010

This paper presents the model used for simulation purposes within the Spanish Ministry of Economic Affairs and Finance. REMS (a Rational Expectations Model for the Spanish economy) is a small open economy dynamic general equilibrium model in the vein of the New-Neoclassical-Keynesian synthesis models, with a strongly micro-founded system of equations. In the long run REMS behaves in accordance with the neoclassical growth model. In the short run, it incorporates nominal, real and financial frictions. Real frictions include adjustment costs in consumption (via habits in consumption and rule-of-thumb households) and investment into physical capital. Due to financial frictions, there is no per…

Global injury morbidity and mortality from 1990 to 2017 : results from the Global Burden of Disease Study 2017

2020

Publisher's version (útgefin grein)

Comparison of multidrug-resistant extraintestinal pathogenic Escherichia coli from human, foods and animals to investigate the possible chains of tra…

Background Globally, antimicrobial drug resistant Escherichia coli is the most common etiological agent of invasive disease in humans. In Europe, increasing proportions of infections due to third generation cephalosporins (3GCs) and/or fluoroquinolone resistant extraintestinal pathogenic E. coli (ExPEC) strains are reported. It has been shown that multidrug resistant (MDR) E. coli can be transmitted from animals to humans and based on existing evidence, poultry is the food animal source most closely linked to human E. coli. However, lack of reliable data makes it difficult to assess the attributable risk of different food sources and their impact on human health. Objectives In the present s…

Empirical evidence for musical syntax processing? Computer simulations reveal the contribution of auditory short-term memory

2014

During the last decade, it has been argued that (1) music processing involves syntactic representations similar to those observed in language, and (2) that music and language share similar syntactic-like processes and neural resources. This claim is important for understanding the origin of music and language abilities and, furthermore, it has clinical implications. The Western musical system, however, is rooted in psychoacoustic properties of sound, and this is not the case for linguistic syntax. Accordingly, musical syntax processing could be parsimoniously understood as an emergent property of auditory memory rather than a property of abstract processing similar to linguistic processing.…

Human Capital Inequality, Life Expectancy and Economic Growth

2006

This article presents a model in which inequality affects per capita income when individuals decide to invest in education taking into account their life expectancy, which depends to a large extent on the human capital of their parents. Our results show the existence of multiple steady states depending on the initial distribution of education. The low steady state is a poverty trap in which children raised in poor families have low life expectancy and work as non-educated workers. The empirical evidence suggests that the life expectancy mechanism explains a major part of the relationship between inequality and human capital accumulation. Increases in life expectancy and human capital accumu…

Gender Gaps in Wages and Mortality Rates During Industrialization: The Case of Alcoy, Spain, 1860–1914

2021

What role did women play during industrialization? Interpretations of this key period of our history have been largely based on analyses of male work. In this paper, we offer evidence of the effects of women's involvement in the industrialization process that took place in Alcoy, Spain, over the period 1860-1914. Using data drawn from historical sources, we analyse labour-force participation rates and wage series for women and men in the textile industry and three other sectors of activity (education, health and low-skill services). We then connect the gender pay gaps with life expectancy indicators. Our results suggest that women's contribution to household income might have favoured the f…

The effects of recent Spanish pension reforms on sustainability and pension adequacy

2017

ABSTRACTThe Spanish pension system has been recently reformed as a response to the demographic challenge and with the objective of ensuring the sustainability of the pension system in the long-term. The overall reforms include changes in the majority of the system parameters, a new indexation rule and a sustainability factor that links life expectancy and the first pension amount. The aim of this work is to analyse how these reforms affect two important features of a pension system: fiscal sustainability and adequacy. For this purpose, the real internal rate of return (IRR) of the lifetime contributions and benefits and the prospective gross theoretical replacement rate (TRR), both before a…

Optimal hedging under biased energy futures markets

2020

Abstract Optimal futures hedging positions for those agents trying to maximize their expected utility will depend on their view about the evolution of the market and on how risk adverse they are. The most risk adverse agents will probably decide to full-cover their positions. But when a futures bias exists, hedgers with moderate or low degree of risk aversion can alter their strategy depending on the expected gains in futures markets. In our application to the UK natural gas market, we find a statistically significant time-varying negative futures bias that can be forecasted with confidence. As a result of this bias, most effective and best performing hedging strategies for moderate risk-av…