The paper shows that lottery-like stocks are hedges against unexpected increases in market volatility. The loading on the aggregate volatility risk factor explains low returns to stocks with high maximum returns in the past (Bali, Cakici, and Whitelaw, 2011) and high expected skewness (Boyer, Mitton, and Vorkink, 2010). Aggregate volatility risk also explains the new evidence that the maximum e...

Research on the therapeutic applications of calixarene derivatives is an emerging area of interest. The anticancer activity of various functionalized calixarenes has been reported by several research groups. Due to their superior geometric shape, calixarenes can accommodate drug molecules by forming inclusion complexes. Controlled release of anticancer drugs by calixarenes might help in targete...

The susceptibility of railway wheels to wear and rolling contact fatigue damage is influenced by the properties of the wheel material. These are influenced by the steel composition, wheel manufacturing process, and thermal and mechanical loading during operation. The in-service properties therefore vary with depth below the surface and with position across the wheel tread. This paper discusses ...

Sea level change during the Quaternary is primarily a consequence of the cyclic growth and decay of ice sheets, resulting in a complex spatial and temporal pattern. Observations of this variability provide constraints on the timing, rates, and magnitudes of the changes in ice mass during a glacial cycle, as well as more limited information on the distribution of ice between the major ice sheets...

AIM To determine whether transforaminal lumbar interbody fusion aggravate adjacent segmental degeneration more adversely than anterior lumbar interbody fusion. MATERIAL AND METHODS A normal finite element model, an anterior lumbar interbody fusion model and a transforaminal lumbar interbody fusion model of L3-5 were developed. 800 N compressive loading plus 10 Nm moments simulating flexion, e...

Invaded systems are commonly associated with a change in ecosystem processes and a decline in native species diversity; however, many different causal pathways linking invasion, ecosystem change, and native species decline could produce this pattern. The initial driver of environmental change may be anthropogenic, or it may be the invader itself; and the mechanism behind native species decline ...

New inclinometers devoted to hydrological studies were set up in the Vosges Mountains (France). Two orthogonal 100-meter base hydrostatic inclinometers were installed in December 2004 as well as a hydrometeorological monitoring system for the 100-km2 hydrological unit around the inclinometer. As inclinometers are very sensitive to environmental influences, this observatory is a test site to con...

constrained and consistent to reliably quantify the influence of aerosol loading on cloud droplet sizes. After constraining the spatial-temporal coincidence between satellite retrievals and in situ measurements, we selected 17 non-drizzle comparison pairs. For these cases the mean aircraft profiling times were within one hour of Terra overpass at both projected and un-projected (actual) aircraf...

We demonstrate here that microporous materials can exhibit softening upon adsorption of guest molecules, at low to intermediate pore loading, in parallel to the pore shrinking that is well-known in this regime. This novel and counterintuitive mechanical response was observed through molecular simulations of both model pore systems (such as slit pore) and real metal-organic frameworks. It is con...

Article history: Received 29 May 2007 Received in revised form 25 July 2009 Accepted 28 July 2009