Using financial incentives, we study how portfolio choice (how much to invest in a risky asset) depends on three well-known behavioral phenomena: ambiguity aversion, the illusion of control, and myopic loss aversion. We find evidence that these phenomena are present and test how the level of investment is affected by these motivations; at the same time, we investigate whether participants are w...

Analysts in a bank’s research department cover both, firms which have no relationship to the bank as well as companies in which the bank has a strategic interest. Officially, banks have to establish a Chinese Wall around the research department to allow the analysts to work independently and to avoid the flow of insider information. We examine long-term bank-firm relationships using ownership d...

This paper develops a framework to nonparametrically test whether discrete-valued irregularly-spaced financial transactions data follow a Markov process. For that purpose, we consider a specific optional sampling in which a continuous-time Markov process is observed only when it crosses some discrete level. This framework is convenient for it accommodates the irregular spacing that characterize...

The G- and U-specific reagent, carbodiimide was used to probe the solution structure of aminoacylated yeast phenylalanine tRNA. Both quantitative and qualitative changes in modification were observed when the modification patterns of tRNA-CCA(3'OH), tRNA-CCA(3'NH2) and phe-tRNA-CCA(3'NH2) were compared. Five nucleotides were modified in all cases, D16 and G20 in the D-loop, U33 and Gm34 in the ...

Cloverleaf tRNA with a 75 nucleotide (nt) core is posited to have evolved from ligation of three 31 nt minihelices followed by symmetric internal deletions of 9 nt within ligated acceptor stems. Statistical tests strongly support the model. Although the tRNA anticodon loop and T loop are homologs, their U-turns have been treated as distinct motifs. An appropriate comparison, however, shows that...

In spite of the intensive and varied vaccination procedures to control Infectious Bursa Disease (IBD), the emergence of a very virulent (vv) IBD pathotype in Ghana has led to high economic losses in the poultry industry. The potencies of two live intermediate IBD vaccine strains (TAD and Nobilis D78) and an intermediate-plus (hot) vaccine strain (228E) used in Ghana were evaluated by challengin...

In a world with private information and learning on the part of the market participants, the (positive) difference between the observed transaction price of an asset and the corresponding unobserved full-information price (the price that reflects private and public information about the asset) represents an ideal measure of market quality. We call this difference “full-information transaction c...

H(+) exchange inhibitor eniporide as an adjunct to early reperfusion therapy for acute myocardial infarction. Results of the evaluation of the safety and cardioprotective effects of eniporide in acute myocardial infarction (ESCAMI) trial. J Am Coll Cardiol 2001; 38: 1644–50. [13] Buerke M, Rupprecht HJ, Vom DJ et al. Sodium–hydrogen exchange inhibition: novel strategy to prevent myocardial inju...

Drosophila RNase P and 3'-tRNase endonucleolytically process the 5' and 3' ends of tRNA precursors. We examined the processing kinetics of normal substrates and the inhibitory effect of the tRNA product on both processing reactions. The product is not a good RNase P inhibitor, with a KI approximately 7 times greater than the substrate KM of approximately 200 nM and is a better inhibitor of 3'-t...