Search results for "Exchange"
showing 10 items of 2035 documents
Fuzzy Portfolio Selection Models: A Numerical Study
2012
In this chapter we analyze the numerical performance of some possibilistic models for selecting portfolios in the framework of risk-return trade-off. Portfolio optimization deals with the problem of how to allocate wealth among several assets, taking into account the uncertainty involved in the behavior of the financial markets. Different approaches for quantifying the uncertainty of the future return on the investment are considered: either assuming that the return on every individual asset is modeled as a fuzzy number or directly measuring the uncertainty associated with the return on a given portfolio. Conflicting goals representing the uncertain return on and risk of a fuzzy portfolio a…
Not Entirely Reliable: Private Scientific Organizations and Risk Regulation – The Case of Electromagnetic Fields
2013
Private scientific organizations exert a great deal of influence in the regulation of some technological risks. The high level of expertise of their members is arguably a good reason for them to participate in making and monitoring risk regulations, in order to adjust these to scientific progress. Nevertheless, there are also sound reasons why governments shouldn’t uncritically follow the views expressed by such organizations. Taking the role played by the International Commission on Non–Ionizing Radiation Protection in the regulation of electromagnetic fields as an illustrative example, this paper shows that private scientific organizations such as these are structurally less well suited t…
MUNICIPAL FINANCE EQUALIZATION PROCESS IN LATVIA
2012
The municipal finance equalization calculations in Latvia presently take into account the demographic indicators, but they do not depict accurately the municipal finance requirements; in order to precisely determine these numbers, other consequential criteria should be accounted for as well, such as infrastructure or other aspects characterising the peculiarities or needs of a certain territory. Inclusion of these new criteria in the process of determining the need for financing could serve as the basis for improvements to the existing system. The purpose of this article is to analyze the municipal finance situation in Latvia, starting with 1998, to show the differences in their income and …
Initial Enlargement in a Markov chain market model
2011
Enlargement of filtrations is a classical topic in the general theory of stochastic processes. This theory has been applied to stochastic finance in order to analyze models with insider information. In this paper we study initial enlargement in a Markov chain market model, introduced by Norberg. In the enlarged filtration, several things can happen: some of the jumps times can be accessible or predictable, but in the original filtration all the jumps times are totally inaccessible. But even if the jumps times change to accessible or predictable, the insider does not necessarily have arbitrage possibilities.
Ethical Behaviour and Operating Performance of Insurance Broker Firms
2015
In this research we investigate whether there is a relationship between the ethical behaviour of insurance brokers and their operating performance. Specifically, we focus on the practice of deferring the premiums charged to clients in order to invest them in short–term financial products and, as a result, gain an additional financial return to their traditional sources of income. We consider this practice to be an unethical behaviour since uninformed clients, that is, those who are not aware of the legal process of brokerage, expect the broker to immediately process the policy with the insurance company once the premium has been paid. We find that the better the performance and the larger t…
Predicting the Short-Term Exchange Rate Between United State Dollar and Czech Koruna Using Hilbert-Huang Transform and Fuzzy Logic
2017
In this paper, the combination of the Hilbert-Huang Transform, fuzzy logic and an embedding theorem is described to predict the short-term exchange rate from United States dollar to Czech Koruna. By Using the Hilbert-Huang Transform as an adaptive filter, the proposed method decreases the embedding dimension space from five (original samples) to four (de-noising samples). This dimension space provides the number of inputs to the fuzzy rule base system, which causes the number of rules, the time for training and the inference process to decrease. Experimental results indicated that this method achieves higher accuracy prediction than the direct use of original data.
Intercalated cells as a probable source for the development of renal oncocytoma
1988
Renal oncocytoma is a distinct type of epithelial tumor said to arise from the collecting duct system. Here we show that in nine of ten oncocytomas the tumor cells expressed an analog of the erythrocyte anion exchanger band 3. In the normal kidney band 3 is confined to the basolateral surface of the majority of intercalated cells which comprise up to 50% of the cortical collecting duct epithelium. Carbonic anhydrase c is another protein abundant in intercalated cells, and this was also expressed in six of the ten oncocytomas investigated. Immunoreactivity specific for band 3 and carbonic anhydrase c was not detected in any of the 20 renal cell carcinomas examined. At favourable section plan…
Regulatory T cell-derived adenosine induces dendritic cell migration through the Epac-Rap1 pathway.
2014
Abstract Dendritic cells (DC) are one target for immune suppression by regulatory T cells (Treg), because their interaction results in reduced T cell stimulatory capacity and secretion of inhibitory cytokines in DC. We show that DC in the presence of Treg are more mobile as compared with cocultures with conventional CD4+ T cells and form DC–Treg aggregates within 2 h of culture. The migration of DC was specifically directed toward Treg, as Treg, but not CD4+ T cells, attracted DC in Boyden chambers. Treg deficient for the ectonucleotidase CD39 were unable to attract DC. Likewise, addition of antagonists for A2A adenosine receptors abolished the formation of DC–Treg clusters, indicating a ro…
Semiclassical approximation in the magnetic problem of exchange-coupled mixed valence clusters
1994
Abstract The frameworks of the applicability of the semiclassical adiabatic approach suggested by Borras-Almenar, Coronado and Tsukerblat to the magnetic problem of mixed valence clusters are considered in a model taking into account magnetic exchange, double exchange and vibronic interaction. The results for the quantum-mechanical and semicalssical calculation of the temperature-variable magnetic moments are compared with those within the scope of the semiclassical approximation for the dimeric d 1 —d 2 clusters and trimeric d 1 —d 1 —d 2 systems with partial delocalization over a pair of ions. The semiclassical approach describes with high accuracy the temperature dependencies of the magn…
Chemical Properties of Element 105 in Aqueous Solution: Halide Complex Formation and Anion Exchange into Triisoctyl Amine
2017
Studies of the halide complexation of element 105 in aqueous solution were performed on 34-s 262Ha produced in the 249Bk(18-O,5n) reaction. The 262Ha was detected by measuring the fission and alpha activities associated with its decay and the alpha decays of its daughter, 4.3-s 258Lr. Time-correlated pairs of parent and daughter alpha particles provided a unique identification of the presence of 262Ha. About 1600 anion exchange separations of 262Ha from HCl and mixed HC1/HF solutions were performed on a one-minute time scale. Reversed-phase micro-chromatographic columns incorporating triisooctyl amine (TIOA) on an inert support were used in the computer-controlled liquid chromatography appa…