We propose a tractable model of asset management in which benchmarking arises endogenously, and analyze its welfare consequences. Fund managers' portfolios are not contractible they incur private costs running them. Incentive contracts for fund managers create pecuniary externality through their effect on prices. Benchmarking inflates prices creates crowded trades. The crowding reduces the effe...

Performance of the "quasi-REML" method for estimating correlations between a continuous trait and a categorical trait, and between two categorical traits, was studied with Monte Carlo simulations. Three continuous, correlated traits were simulated for identical populations and three scenarios with either no selection, selection for one moderately heritable trait (Trait 1, h2 = .25), and selecti...

Bacterial H antigens are specified by flagellin molecules, which constitute the flagellar filament. Escherichia coli 781-55 and E2987-73 are the type strains for H44 and H55 antigens, respectively. Unlike E. coli K-12, they possess two flagellin genes, fliC and fllA, on their chromosomes. However, they are monophasic, expressing exclusively the fllA genes, which specify the type antigens. In th...

To assess the contribution of cardiac f2-receptors in the cardiac inotropic and chronotropic responses to a A3 agonist, terbutaline was infused (0.2 and 0.4 ,ug/kg/min), alone or after pretreatment with either oral atenolol 50 mg or atropine 0.04 mg/kg i.v. or both in six healthy subjects with a multiple crossover design. Terbutaline 0.2 ,g/kg/min increased heart rate by 15±2 beats/min, and thi...

A 3-week coliphage survey was conducted in stool samples from 140 Bangladeshi children hospitalized with severe diarrhea. On the Escherichia coli indicator strain K803, all but one phage isolate had 170-kb genomes and the morphology of T4 phage. In spot tests, the individual T4-like phages infected up to 27 out of 40 diarrhea-associated E. coli, representing 22 O serotypes and various virulence...

The lateral mobility of the vesicular stomatitis virus spike glycoprotein (G protein) and various mutant G proteins produced by site-directed mutagenesis of the G cDNA has been measured. Fluorescence recovery after photobleaching results for the wild type G protein in transfected COS-1 cells yielded a mean diffusion coefficient (D) of 8.5 (+/- 1.3) X 10(-11) cm2/s and a mean mobile fraction of ...

Abstract. The article examines integration of cryptocurrencies as electronic payment systems in e-commerce enterprises. Practical usage Ethereum and Bitcoin systems, well factors that may affect their functionality are studied. Coinbase Commerce Bitpay, market leaders cryptocurrency providers, were analyzed to compare issues commission analysis with traditional LiqPay, PayPal. It is determined ...

Cet article propose une analyse économique des stablecoins mettant en évidence les liens avec la finance traditionnelle. Même s'il existe dont l'arrimage est garanti par un tiers de confiance, cet se concentre principalement sur gérés directement système d'incitations blockchain décentralisée. Nous mettons enjeux gouvernance et liquidation décen...