We draw a distinction between the concepts of purchase affordability (whether a household is able to borrow enough funds to purchase a house) and repayment affordability (the burden imposed on a household of repaying the mortgage). We operationalize this distinction in the context of a new methodology for constructing affordability measures that draws on the value-at-risk concept and takes acco...

We adopt a theory of relativisation based on the idea that relatives, like wh-constructions in the analysis of Chomsky (1998), require two sorts of features to construct their LF-interpretation. We argue that it is the variable interpetability of these features that gives rise to different syntactic patterns. We use this theory to provide an explanation for some curious syntactic facts found in...

During the fabrication of nanopost arrays for measuring cellular forces, we have observed surface cracks in the negative molds used to replicate the arrays from a silicon master. These cracks become more numerous and severe with each replication such that repeated castings lead to arrays with missing or broken posts. This loss in pattern fidelity from the silicon master undermines the spatial r...

Proof. Proof of claim 1: Suppose all agents acquire full information. In this case Π(bi) = 0 and each agent has to pay c. Deviating from the equilibrium means that the agent receives an uninformative signal, i.e. bi → ∞, but does not have to pay c. From the definition we can easily see that as bi → ∞, τv → 0. In the full information equilibrium, the agent knows that ā = s and thus Var [ā|Ii] = ...