This paper presents a novel evolutionary optimization strategy based on the derandomized evolution strategy with covariance matrix adaptation (CMA-ES). This new approach is intended to reduce the number of generations required for convergence to the optimum. Reducing the number of generations, i.e., the time complexity of the algorithm, is important if a large population size is desired: (1) to...

Ialenti, Vincent 2020. Deep Time Reckoning: How Future Thinking Can Help Earth Now. Cambridge, Massachusetts: The MIT Press. 208 p. ISBN: 9780262539265 (paperback).

Earnings press releases are ‘‘the major news event of the season for many companies as well as investors, analysts, financial media, and the market’’ (Mahoney and Lewis 2004). The information content of earnings press releases has increased significantly over time (Kross and Kim 2000; Lo and Lys 2001; Francis, Schipper, and Vincent 2002a, 2002b; Landsman and Maydew 2002; Collins, Li, and Xie 20...

Hierarchical structure formation models predict the existence of large numbers of low velocity dispersion dark halos. Galaxy surveys find far fewer galaxies than predicted by analytical estimates and numerical simulations. In this paper, we suggest that these dark halos are not missing, but have been merely misplaced in the galactic astronomy section of the journals: they are the High Velocity ...

On June 26th, 2004, Central bank governors and the heads of bank supervisory authorities in the Group of Ten (G10) countries issued a press release and endorsed the publication of International Convergence of Capital Measurement and Capital Standards: a Revised Framework, the new capital adequacy framework commonly known as Basel II. According to Jean Claude Trichet, Chairman of the G10 group o...

Recent studies have revealed a new aspect of physiological regulation in which microRNAs (miRNAs) play fundamental roles in diverse biological and pathological processes. Furthermore, it was recently discovered that miRNAs are stably secreted into blood and that circulating miRNAs may play important roles in cell-cell communication. Here, we examined whether the circulating miRNA profile is aff...

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While I fi nd the paper interesting, the results provide somewhat of a puzzle. If central bank communication does not affect the predictability of interest rates, why do central banks talk so much? As an example, since 1999 the six members of the Executive Board of Sveriges Riksbank (the central bank of Sweden) gave in combination an average of about 35 speeches per year. On top of that, some s...

This paper studies voluntary disclosure when (a) there is uncertainty about managerial propensity to report truthfully, (b) some components of the firm’s value may be certified for a cost (“hard”), (c) other components may be disclosed but not certified free of misstatements (“soft”). We establish that untruthful managers are more likely to certify hard information and that, among truthful mana...