This paper analyzes the portfolio decision of an investor facing the threat of illiquidity. In a continuous-time setting, the efficiency loss due to illiquidity is addressed and quantified. We show that the efficiency loss for a logarithmic investor with 30 years until the investment horizon is a significant 22.7% of current wealth if the illiquidity part of the model is calibrated to the Japan...

Background RARHA (REDUCING ALCOHOL RELATED HARM) is a Joint Action (JA) (2014-2016) funded under the EU Health Programme and by EU Member States to address some commonly identified priorities to reduce levels of alcohol related harm in the EU. The work package 5 contributes towards increased understanding among public health policy makers of the scientific basis and practical implications of th...

We consider the fundamental Matroid Theory problem of finding a circuit in a matroid spanning a set T of given terminal elements. For graphic matroids this corresponds to the problem of finding a simple cycle passing through a set of given terminal edges in a graph. The algorithmic study of the problem on regular matroids, a superclass of graphic matroids, was initiated by Gavenčiak, Král’, and...

Knowledge Based Real-Time Systems for intelligent patient monitoring must present the following characteristics: (a) reactivity and opportunism compatible with goal directed control, (b) domain independent task structures, (c) heterogeneous problemsolving methods, and (d) temporal reasoning. Conventional architectures present these characteristics in a separated way. To build a system that pres...

People working with ad-hoc collaboration tools suffer from information overload and information scatter. Our five-month study of project managers found their work comprised of fragmented activities scattering in task, people and application. However, these loosely coupled collaborative activities were implicitly organized by hierarchical activity threads through intrusion and digression, and ge...

This paper provides a cost estimating framework for the Electrical, Electronic and Electromechanical (EEE) components obsolescence, which represents the main source of obsolescence issues due to the increasingly short life cycle of these types of components. The framework comprises a number of areas, namely “Component Complexity Levels”, “Obsolescence Management Levels”, “Obsolescence Resolutio...

Team members usually cooperate on a business process by partitioning it into several activities, which in turn generate one or more work items. Work items either need to be processed separately or jointlydependent on the overall context. In addition, joint redefinition of the activity breakdown structure can be necessary while executing activities. Thus, two types of supportflexible workflows...

There have been increasing calls for higher education, during the last decade, to improve standards, increase the quality of assessment, and for greater accountability of lecturers. The need to ensure quality, consistency and improved criteria of assessment is greatly emphasised within modules where assessment is through one large piece of work such as a dissertation. This paper highlights the ...

The aircraft industry is viewed as a prestigious industry by many countries. Emerging economies regard the establishment of aircraft production capabilities as contributing to their competitiveness and technological development. Therefore, in the defence aircraft industry, politics play a key role in competitiveness. Governments can strategically trade market access for technological developmen...

Deliverables 7.14a and 7.14b seek to detect in which way the new type of profiling that is the subject of FIDIS work package 7 – machine profiling based on data mining techniques – is different from previous ways of profiling, and how this relates to the construction of our identity. The concepts of idem and ipse, coined by the French philosopher Ricoeur, are used to look into the issue of huma...