Models and Simulations for Portfolio Rebalancing

In 1950 Markowitz first formalized the portfolio optimization problem in terms of mean return and variance. Since then, the mean-variance model has played a crucial role in single-period portfolio optimization theory and practice. In this paper we study the optimal portfolio selection problem in a multi-period framework, by considering fixed and proportional transaction costs and evaluating how much they affect a re-investment strategy. Specifically, we modify the single-period portfolio optimization model, based on the Conditional Value at Risk (CVaR) as measure of risk, to introduce portfolio rebalancing. The aim is to provide investors and financial institutions with an effective tool to better exploit new information made available by the market. We then suggest a procedure to use the proposed optimization model in a multi-period framework. Extensive computational results based on different historical data sets from German Stock Exchange Market (XETRA) are presented.     

Determinization and minimization of finite acyclic automata by incremental techniques

The determinization of a nondeterministic finite automaton (FA) is the process of generating a deterministic FA (DFA) equivalent to (sharing the same regular language of) . The minimization of is the process of generating the minimal DFA equivalent to . Classical algorithms for determinization and minimization are available in the literature for several decades. However, they operate monolithically, assuming that the FA to be either determinized or minimized is given once and for all. By contrast, we consider determinization and minimization in a dynamic context, where augments over time: after each augmentation, determinization and minimization of into is required. Using classical monolithic algorithms to solve this problem is bound to poor performance. An algorithm for incremental determinization and minimization of acyclic finite automata, called IDMA, is proposed. Despite being conceived within the narrow domain of model‐based diagnosis and monitoring of active systems, the algorithm is general‐purpose in nature. Experimental evidence indicates that IDMA is far more efficient than classical algorithms in solving incremental determinization and minimization problems. Copyright © 2015 John Wiley & Sons, Ltd.     

Kidney injury and cell therapy: Preclinical study

The aim of this study is to show histological and immunofluorescence analysis of renal parenchyma of agoutis affected by gentamicin‐induced renal disease after the infusion of bone marrow mononuclear cells (BMMC) stained with Hoechst®. Nine agouti's males were divided into three groups: Test group (TG): renal disease by gentamicin induced (n = 3), cell therapy group (CTG): renal disease by gentamicin induced and BMMC infusion (n = 3), and control group (CG): nonrenal disease and BMMC infusion (n = 3). TG and CTG were submitted to the protocol of renal disease induction using weekly application of gentamicin sulfate for 4 months. CG and CTG received a 1 × 108 BMMC stained with Hoechst and were euthanized for kidney examination 21 days after BMMC injection and samples were collected for histology and immunofluorescence analysis. Histological analysis demonstrated typical interstitial lesions in kidney similarly to human disease, as tubular necrosis, glomerular destruction, atrophy tubular, fibrotic areas, and collagen deposition. We conclude that histological analysis suggest a positive application of agouti's as a model for a gentamicin inducing of kidney disease, beyond the immunofluorescence analysis suggest a significant migration of BMMC to sites of renal injury in CTG. Microsc. Res. Tech., 2012. © 2011 Wiley Periodicals, Inc.     

EDEN: An Intelligent Software Environment for Diagnosis of Discrete-Event Systems

A software environment, called EDEN, that prototypes a recent approach to model-based diagnosis of discrete-event systems, is presented. The environment integrates a specification language, called SMILE, a model base, and a diagnostic engine. SMILE enables the user to create libraries of models and systems, which are permanently stored in the model base, wherein both final and intermediate results of the diagnostic sessions are hosted as well. Given the observation of a physical system gathered during its reaction to an external event, the diagnostic engine performs the a posteriori reconstruction of all the possible evolutions of the system over time and, then, draws candidate diagnoses out of them. The diagnostic method is described using a simplified example within the domain of power transmission networks. Strong points of the method include compositional modeling, support for model update, ability to focus on any sub-system, amenability to parallel execution, management of multiple faults, and broad notions of system and observation.     

Diagnosing attention disorders in a virtual classroom

The virtual classroom provides an efficient and scalable tool for conducting attention testing. The University of Southern California integrated media systems center and digital media works have partnered to develop virtual reality technology applications for the study, assessment, and rehabilitation of cognitive and functional processes. This work primarily focuses on the development of systems that address the special needs of clinical populations with central nervous system dysfunctions such as brain injury, learning disabilities, or neurological disorders.     

剃齿刀的磨削

一直以来，齿轮热处理后的精加工一般采用磨削或珩磨这两项工艺，但剃齿加工工艺仍有现实意义。首先，剃齿总费用仅是磨削总费用的一部分；其次，剃齿加工所用循环时间要短得多，这就意味着剃齿加工投入的资金和必需的机床要少很多。另外，还要考虑到齿轮加工不可能都采用磨削加工，有些精度不高的齿轮不需要磨削加工，比如带台肩的齿轮，汽车的倒挡齿轮与一、二挡齿轮，所有农业机械的齿轮以及低速的传动齿轮。     

Hydromorphology Meets Mammal Ecology: River Morphological Quality,Recent Channel Adjustments and Otter Resilience

The need for a multidisciplinary approach for characterizing water bodies in terms of morphological, chemical and ecological quality has hastened the growth of hydromorphology as a cross‐disciplinary topic at the interface of hydrology, geomorphology and ecology. Many authors have analysed how hydroecology may affect freshwater biodiversity, although little is known about how this biodiversity might be affected by river morphological quality. We examined how well the presence of the semi‐aquatic Eurasian otter can be predicted by the rivers' morphological quality and its adjustments over the last decades. We tested the morphological quality index (MQI) methodology in 38 reaches of five rivers in southern Italy, 23 of which were positive to otter presence. In each reach, we examined 28 indicators contributing to the MQI and its 11 sub‐indices. The results showed a significant relationship between the probability of the presence of otters, MQI, and some sub‐indices. The best performing sub‐indices were related to channel adjustments and the continuity of river processes. A more detailed analysis of channel adjustments showed a detrimental effect of channel incision (>3 m) and a positive effect of narrowing, particularly where it occurred simultaneously with the development of forest in the new floodplain. The continuity of river processes has driven the migration of river banks and the development of ponds and secondary channels, likely increasing the availability of dens and resting sites and the hunting capabilities of otters. Our results stressed the importance of fluvial dynamics and sustainable adaptive river management for the habitat quality of semi‐aquatic species. Copyright © 2014 John Wiley & Sons, Ltd.     

Perception of Host Plant Volatiles in Hyalesthes obsoletus: Behavior, Morphology, and Electrophysiology

The Palearctic planthopper Hyalesthes obsoletus is the natural vector of the grapevine yellow disease Bois noir. Grapevine is an occasional host plant of this polyphagous planthopper. To deepen our knowledge of the role of plant volatile organic compounds for H. obsoletus host plant searching, we carried out behavioral, morphological, and electrophysiological studies. We tested the attraction of H. obsoletus to nettle, field bindweed, hedge bindweed, chaste tree, and grapevine by using a Y-shaped olfactometer. The results showed a significant attraction of male H. obsoletus to chaste tree, and of the females to nettle. Male H. obsoletus were repelled by odor from hedge bindweed. Ultrastructural studies of the antennae showed at least two types of olfactory sensilla at the antennal pedicel: plaque organs and trichoid sensilla. Volatile organic compounds from nettle and chaste tree were collected, and the extracts were analyzed by coupling gas-chromatography to both mass-spectrometry and electroantennography. The volatile organic compounds that elicited electrophysiological responses in male and female antennae were identified. These findings are discussed with respect to behavior of H. obsoletus males and females in the field.     

A Pilot Study of the VirtuSphere as a Virtual Reality Enhancement

This pilot study assessed the utility and acceptability of the VirtuSphere, a cutting edge navigation platform designed to enhance presence in virtual environments. The VirtuSphere includes a 12-ft hollow sphere within which the user stands, and it rolls within a wheeled platform, in any direction, according to the user's steps. The pilot was a within-subject crossover design comparing the VirtuSphere to standard game controller navigation. The comparison was based on locomotion in Virtual Iraq, a virtual world resembling Iraqi war zones. Participants were 10 active duty soldiers not suffering from posttraumatic stress disorder. Results indicated that there were negligible differences in sense of presence, simulator sickness, and satisfaction across the two navigation systems. Although the VirtuSphere may provide entertainment value, these results do not provide initial support for the use of the VirtuSphere to improve constructs thought to be important to behavioral health applications of virtual reality. Potential improvements to the design of the VirtuSphere are discussed.