We study asset-pricing implications of innovation in a general-equilibrium overlappinggenerations economy. Innovation increases the competitive pressure on existing firms and workers, reducing the profits of existing firms and eroding the human capital of older workers. Due to the lack of inter-generational risk sharing, innovation creates a systematic risk factor, which we call “displacement r...

A two-loop (cylinder) amplitude of the 2d pure gravity theory is obtained in the proper-time gauge (g00 = 1, g01 = g10 = 0) in the continuum formulation. The constraint T01 = 0 is solved and used to reduce the problem of field theory to that of quantum mechanics. This reduction can also be proved by using a conformal Ward identity. The amplitude depends on the lengths l1, l2 of the boundaries, ...

Small deformation rheology was used at a controlled strain of 0.05% and frequency from 1 to 100 Hz to obtain G0, G00, and tan(d) values for ethylcellulose oleogels of various compositions. Significant increases in both G0 and G00 were noted in oleogels prepared with 100 cP ethylcellulose as compared to 45 cP, yet no significant differences in tan(d) were observed among gels containing the same ...

In this paper, I discuss the idea that birth of our Universe may be a result quantum transition from physical continuum with Euclidean signature to Lorentzian spacetime. A similar was expressed by Andrei D. Sakharov At classical level, studied George F. R. Ellis and his collaborators, who explored if solutions Einstein equation exist which admit change metric signature. The present paper aims a...

This paper shows that if a very small, exogenously given probability of terminating the exchange is introduced in an elementary investment game, more reciprocators will choose the defection strategy. Everything happens as if they "hide behind probabilities" in order to break the trust relationship. Investors do not alter their behavior in a significant way, at least not for a very small externa...

– Prediction of financial time series using artificial neural networks has been the subject of many publications, even if the predictability of financial series remains a subject of scientific debate in the financial literature. Facing this difficulty, analysts often consider a large number of exogenous indicators, which makes the fitting of neural networks extremely difficult. In this paper, w...

We study forking, Lascar strong types, Keisler measures and definable groups, under an assumption of NIP (not the independence property), continuing aspects of the paper [16]. Among key results are (i) if p = tp(b/A) does not fork over A then the Lascar strong type of b over A coincides with the compact strong type of b over A and any global nonforking extension of p is Borel definable over bdd...

Linear and non-linear rheological properties of wheat gliadin and glutenin suspensions were investigated at various concentrations. Linear dynamic viscoelastic properties for both gliadin and glutenin were strongly dependent on concentration. For gliadins, the storage moduli (G 0), loss moduli (G00), and phase shifts dramatically changed within a narrow concentration range, indicating that glia...

We give examples of definable groups G (in a saturated model, sometimes o-minimal) such that G00 6= G000, yielding also new examples of “non G-compact” theories. We also prove that for G definable in a (saturated) o-minimal structure, G has a “bounded orbit” (i.e. there is a type of G whose stabilizer has bounded index) if and only if G is definably amenable, giving a positive answer to a conje...

Single-firm event studies play an important role in both scholarship and litigation despite the general invalidity of standard inference. We use a broad cross-section of 2000–2007 CRSP data and find that the standard approach performs poorly in terms of both Type I and Type II error rates. We discuss a simple-to-use alternative, the SQ test, based on sample quantiles of the empirical distributi...