The literature on endogenous leverage until now shows how an increase in volatility reduces leverage. However, in order to explain procyclical leverage it assumes that bad news increases volatility. This paper explains for the first time why bad news are associated with high volatility. We show that, in a model with endogenous leverage and heterogenous beliefs, most agents have the incentive to...

A fair notion of the purpose of this work will be gathered from its title page, which we copy verbatim et literatim. It is slow work wading through its crude and ungrammatical pages; we give our readers the opportunity of joining us in the few smiles its perusal has called forth. One patient, " after a fortnight's bathing, left with nearly a clean skin." The waters are useful in palsy ..." espe...

We present a model-based monitoring method for dynamic systems that exhibit both discrete and continuous behaviors. MIMIC (Dvorak & Kuipers 1991) uses qualitative and semi-quantitative models to monitor dynamic systems even with incomplete knowledge. Recent advances have improved the quality of semi-quantitative behavior predictions, used observations to refine static envelopes around monotonic...

The climatic importance of the microphysical and radiative properties of clouds, particularly cloud droplet effective radii (re), optical depths (τ), and albedos are widely recognized. For reliable application of satellite datasets in cloud process and single column models, it is important to have a reasonable estimate of the errors in the derived cloud properties. When properly used, ground-ba...

Two-month-old infants (A'= 29) participated in face-to-face interactions with their mothers and with strangers. The contingent responsiveness for smiles and vocalizations, while attending to the partner, was assessed for each partner in both interactions. For smiles and for vtx-alizatJons. infants were less responsive to the stranger relative to the mother when the stranger's contingent respons...

Both the number and the position of iodine atoms on the aromatic ring of polyiodinated N,N’-bis(2,3dihydroxypropyl)-5-[2-methylamino-2-oxoethoxy]-1,3-benzenedicarboxamides are crucial to define the structure of the product obtained by treatment with aqueous NaOH. The 2,6-diiodo and the 2,4,6-triiodo derivatives give the corresponding Smiles rearrangement products in 77 and 96% yields, respectiv...

to this problem for some species (e.g. Griffiths and Holland 1990, Quinn et al. 1990, Rabenold et al. 1991, Dvorak et al. 1992, Longmire et al. 1993, Ogawa et al. 1997), but their use requires considerable xpertise, and often their taxonomic range is limited. More recently, PCR-based approaches that are technically simpler and that have broad taxonomic utility have been developed (Ogawa et al. ...

The data have been obtained from the Sigma-2 Receptor Selective Ligands Database (S2RSLDB) and refined according to the QSAR requirements. These data provide information about a set of 548 Sigma-2 (σ2) receptor ligands selective over Sigma-1 (σ1) receptor. The development of the QSAR model has been undertaken with the use of CORAL software using SMILES, molecular graphs and hybrid descriptors (...

Supply Chain (SC) design problems are often characterized with uncertainty related to the decisionmaking parameters. The Stochastic Goal Programming (SGP) was one of the aggregating procedures proposed to solve the SC problems. However, the SGP does not integrate explicitly the Decision-Maker’s preferences. The aim of this paper is to utilize the Chance Constrained Programming and the Satisfact...

If an agent does not have complete information about the world-state, it must reason about alternative possible states of the world and consider whether any of its actions can reduce the uncertainty. Agents controlled by a contingent planner seek to generate a robust plan, that accounts for and handles all eventualities, in advance of execution. Thus a contingent plan may include sensing action...