Existing microstructure literature cannot explain the empirical evidence that bid-ask spreads can decrease with information asymmetry and ignores either information asymmetry or inventory risks. We develop a market making model that highlights the asset pricing impact of market makers’ capability of making offsetting trades in markets where both information asymmetry and inventory risk are sign...

In this paper, a multicast scheme for UMTS which only requires insignificant modifications in the current UMTS network infrastructure is analyzed. We analytically present the multicast routing mechanism behind our scheme as well as the multicast group management functionality of it. Furthermore, we present an evaluation of our scheme in terms of its performance. The critical parameters for the ...

(1) a. Velar Palatalisation (velars change into postalveolars) : kU c] ruk­a ‘hand (  ) ’ – ruc) ­is) c) ­a (  ), ruc) ­ en’k­a (  ) b. Affricate Palatalisation (affricates become postalveolar) : tsU c] konets ‘end’ – konc) ­i­t’ ‘ to finish’ otets ‘father’ – otc) ­estv­o ‘patronymic’ c. Iotation (many disparate changes of consonants) : tU c] s) ut ‘ joker’ – s) uc) ­u ‘...

Evaluating suicide prevention activities is a complex task, and in a prison environment, the complexity increases when an effort is made to determine who is responsible for the suicide the individual or the prison system. This is assuming that the prison system, in itself generates suicide and is primarily responsible.(1) Although the system is not blameless, it is not necessarily a causal fact...

In common with most forms of designed experiment, crossover trials can be affected by missing data. Attempts to devise designs that can mitigate the possible effects of missing data, such as loss of efficiency, or even inestimability of certain contrasts, have been proposed. However, a potentially serious effect of missing data that has not been addressed in designs hitherto is that the treatme...

We explore numerically the shear rheology of soft repulsive particles at large volume fraction. The interplay between viscous dissipation and thermal motion results in multiple rheological regimes encompassing Newtonian, shear-thinning, and yield stress regimes near the "colloidal" glass transition when thermal fluctuations are important, crossing over to qualitatively similar regimes near the ...

The escape from a metastable state over an oscillating barrier of an underdamped Josephson tunnel junction has been experimentally investigated with oscillation frequency well separated from the plasma frequency of the junction. The resonant escape, namely, a minimum of the average escape time as a function of the oscillation frequency, was observed. For the oscillation frequency much smaller t...

We continue to discuss why MMSE estimation arises in coding schemes that approach the capacity of linear Gaussian channels. Here we consider schemes that involve successive decoding, such as decision-feedback equalization or successive cancellation. “Everything should be made as simple as possible, but not simpler.”— A. Einstein.

The utilization of VoIP (Voice over IP) in UMTS networks requires the establishment of adequated rules in order to maximize the efficiency of transmission over the air interface. Here we will describe a technique, based on the reduction of voice packet overhead, with the objective of minimizing the power expended during a typical conversation.