Is all that fluctuates delirium?

Academic nepotism – all that glitters is not gold

Dear Editor With increasing emphasis on publications forfaculty recruitment, career advancementand obtaining research grants, the issues relatedto author kinship and academic nepotism havegrown significantly and these probably reflectthe inflationary growth rather than the optimalgrowth warranted due to increasing researchcomplexity. Allesina S (1) measured the fullmagnitude of nepotism in the ...

All that Glitters Is Gold !

Mirrors Mirrored: Is That All There Is?

Recursive-hierarchical systems are multi-level systems that constitute their systemic closure through recursion. Their unique systemic nature has been ignored for years, causing confusion about their activity. In semiotics, for example, the logic of signification has fallen prey to the post-modernists’ “hall of mirrors,” which fails to grasp the logic of in-between that underlies recursive-hier...

Dark Chocolate and Metabolic Syndrome; Do Polyphenols All that Matter?

Investing when Volatility Fluctuates∗

We examine how the evidence of the time-varying volatility in stock returns affects optimal dynamic portfolio choice of investors with long horizons. As return volatility shows a relatively small correlation with realized return, its time-variation is expected to cause little, if any, hedging demand (in the sense of Merton (1973)). However, we find that, once transaction costs are taken into ac...