We study the lead±lag relationships among the spot, futures, and options markets on Hong KongÕs Hang Seng Index (HSI). The young options market experiences thin trading, and the option returns lag the cash index returns. The more mature futures market experiences active trading. Yet its lead over the cash index appears to be less than the counterparts in other countries. A possible reason is th...

Norms have been promoted as a coordination mechanism for controlling agent behaviours in open MAS. Thus, agent platforms must provide normative support, allowing both norm-aware and non norm-aware agents to take part in MAS that are controlled by norms. In this paper, the most relevant proposals on the denition of norm enforcement mechanisms are analysed. These proposals present several drawbac...

ÐModi®ed guanosine monophosphates have been employed to introduce various functional groups onto RNA 50-ends. Applications of modi®ed RNA 50-ends include the generation of functionalized RNA libraries for in vitro selection of catalytic RNAs, the attachment of photoanity-tags for mapping RNA±protein interactions or active sites in catalytic RNAs, or the nonradioactive labeling of RNA molecules...

Biomass accumulation of di€erent grass species can be quanti®ed by leaf area index (LAI) development, the Beer±Lambert light interception function, and a species-speci®c radiation-use eciency (RUE). The object of this ®eld study was to compare RUE values and leaf CO2 exchange rates (CER) for four C4 grasses. Biomass, LAI, and fraction of photosynthetically active radiation (PAR) intercepted we...

The impact of Explanation-Based Learning (EBL) on problem-solving eciency varies greatly from one problem space to another. In fact, seemingly minute modications to problem space encoding can drastically alter EBL's impact. For example, while prodigy/ebl (a state-of-the-art EBL system) signicantly speeds up the prodigy problem solver in the Blocksworld, prodigy/ebl actually slows prodigy down i...

To tackle the problem with inexact, uncertainty and vague knowl- edge, constructive method is utilized to formulate lower and upper approx- imation sets. Rough set model over dual-universes in fuzzy approximation space is constructed. In this paper, we introduce the concept of rough set over dual-universes in fuzzy approximation space by means of cut set. Then, we discuss properties of rough se...

We study the consequences of the introduction of widespread limited liability for corporations, with particular reference to the liability reforms introduced in Great Britain during the nineteenth century. In the view that is most widely accepted, by reducing transactions costs associated with screening and monitoring in capital markets , limited liability increases eciency of capital markets a...

Norms have been promoted as a coordination mechanism for controlling agent behaviours in open MAS. Thus, agent platforms must provide normative support, allowing both norm-aware and non norm-aware agents to take part in MAS that are controlled by norms. In this paper, the most relevant proposals on the denition of norm enforcement mechanisms are analysed. These proposals present several drawbac...

Proxy ring (anonymous proxy) signatures allow an entity to delegate its signing capability to a group of entities (proxy group) such that only one of the members in the proxy group can generate a proxy signature on behalf of the delegator while privacy of the proxy signer is protected. Identity-based versions of proxy ring signatures employ identity strings in place of randomly generated public...

A new tree code method for simulating planetesimal dynamics is presented. A self-similarity argument is used to restrict the problem to a small patch of a ring of planetesimals at 1 AU from the Sun. The code incorporates a sliding box model with periodic boundary conditions and surrounding ghost particles. The tree is self-repairing and exploits the attened nature of Keplerian disks to maximize...