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This paper investigates the impact of rating agencies in a market with asymmetric information. In particular, the role of credit rating agencies as an intermediary between investors and bond issuers is discussed. We model this setting in a dynamic framework in which both rating agencies and bond issuers are of heterogeneous quality. Rating agencies can apply costly research technology to reveal th
We develop an agent-based model in which heterogeneous and boundedly rational agents interact by trading a risky asset at an endogenously set price. Agents are endowed with balance sheets comprising the risky asset as well as cash on the asset side and equity capital as well as debt on the liabilities side. A number of findings emerge when simulating the model: we find that the empirically observa
This paper presents a Heterogeneous Agent Model of a financial market with chartist and fundamentalist traders that exhibit bounded rationality and short-term thinking to explain the effect of under and overreaction to news. The existence of the Market Maker’s finite price adjustment speed and the presence of risk aversion lead to the fact that prices do not adjust instantaneously to new informati
Even though Sweden stands out in many ways, with for example a well-developed welfare system, there are some indications that Swedish egalitarianism does not include tolerance for people with low income. The present research concerns the content of the Swedish stereotype of poor people, and examines whether the poor are associated with just as negative traits as they are in other countries. Three Even though Sweden stands out in many ways, with for example a well-developed welfare system, there are some indications that Swedish egalitarianism does not include tolerance for people with low income. The present research concerns the content of the Swedish stereotype of poor people, and examines whether the poor are associated with just as negative traits as they are in other countries. Three
Interference effects in quantum dots between different transport channels can lead to a strong suppression of conductance, which cuts like a canyon through the common conductance plot [Phys. Rev. Lett. 104, 186804 (2010)PRLTAO0031-900710.1103/PhysRevLett.104.186804]. In the present work we consider the thermoelectric transport properties of the canyon of conductance suppression using the second-or
Solving process problem needs the support of method and knowledge. To organize relative resources in accordance with requirement, an innovative process design service model based on service-oriented architecture was proposed. Strategy service and knowledge service were built from the dimensions of knowledge, method and computer aided tool. The ontology of services was built, and the system archite
We theoretically investigate nonlinear ballistic thermoelectric transport in a superlattice-structured nanowire. By a special choice of nonuniform widths of the superlattice barriers - analogous to antireflection coating in optical systems - it is possible to achieve a transmission which comes close to a square profile as a function of energy. We calculate the low-temperature output power and powe
In order to achieve significant improvements in road safety at the national level, there is a need for a systematic approach to road safety management with clear responsibilities and accountability. In this paper – after a review of the literature on guidelines, recommendations and research findings – twelve essential elements of such a systematic approach is pointed out, and corresponding relevanIn order to achieve significant improvements in road safety at the national level, there is a need for a systematic approach to road safety management with clear responsibilities and accountability. In this paper – after a review of the literature on guidelines, recommendations and research findings – twelve essential elements of such a systematic approach are pointed out, and corresponding releva
We examine the capacity of artificial biomolecular networks to respond to perturbations with structurally signed steady-state changes. We consider network architectures designed to balance their output production as a function of downstream demand: the species producing the output, called a source, up- or down-regulates its production rate as a function of the demand. Using an exact algorithm we s
We study diffusion of cooperation in a two-population game in continuous time. At each instant, the game involves two random individuals, one from each population. The game has the structure of a Prisoner's dilemma where each player can choose either to cooperate (c) or to defect (d), and is reframed within the field of approachability in two-player repeated game with vector payoffs. We turn the g
Massive MIMO is a promising technology for the coming 5G wireless systems. In this paper, a programmable baseband processor specifically designed for uplink symbol detection targeting massive MIMO is presented with a novel matrix inversion method proposed to obtain more precise and efficient computation. Including a microcode controlled channel preprocessing unit and a pipelined detection unit, th
The clinical success of targeted cancer therapies is limited by the emergence of drug resistance often due to pre-existing tumor genetic heterogeneity and acquired, therapy-induced resistance. Targeted therapies have varied success in addressing metastatic disease, due to their ability to penetrate certain physiological compartments. This paper considers an evolutionary cancer model that incorpora
I centrum för denna sammanläggningsavhandling, som består av sex artiklar och ett introduktionskapitel, står koncepten ekologisk skuld, klimatskuld, ekologiskt ojämnt utbyte och ojämn appropriering av kolsänkor. Begreppens idéhistoria och politiska historia spåras bakåt till miljörättviserörelsen, ekologisk ekonomi och neo-marxistisk ekonomi. De utvecklas konceptuellt och länkas samman analytiskt In this compilation thesis, consisting of six papers and an introductory chapter, the concepts of ecological debt, climate debt, ecologically unequal exchange, and unequal carbon sink appropriation are at the centre. Their intellectual and political histories are traced to environmental justice movements, ecological economics and neo-Marxist economics. They are developed conceptually and linked to
Crosses between closely related animal species often result in male hybrids that are sterile, and the molecular and functional basis of genetic factors for hybrid male sterility is of great interest. Here, we report a molecular and functional analysis of HMS1, a region of 9.2 kb in chromosome 3 of Drosophila mauritiana, which results in virtually complete hybrid male sterility when homozygous in t
This paper serves as an overview to the special session Circuits and Systems for 5G on IEEE International Conference on ASIC (ASICON) 2015. More specifically, we introduce two of enabling technologies for the coming 5G wireless era, namely massive multiple-input multiple-output (MIMO) technique and advanced coding techniques such as polar codes. Massive MIMO is a relatively new wireless communicat
Photoinduced degradation of individual methylammonium lead triiodide (MAPbI3) perovskite nanocrystals was studied using super-resolution luminescence microspectroscopy under intense light excitation. The photoluminescence (PL) intensity decrease and blue-shift of the PL spectrum up to 60 nm together with spatial shifts in the emission localization position up to a few hundred nanometers were visua
”Seeing is believing” är ett koncept fött ur människans oändliga nyfikenhet att veta mer. Otvivelaktigt så har modern vetenskap vuxit fram ur denna naturliga strävan efter att vilja veta mer. Från ett tidigt stadium har mikroskopi varit en hörnsten i många vetenskapsdiscipliner. Redan i ett tidigt skede filosoferade mikroskopister kring vad de minsta beståndselarna av naturen är och om vi ens kan Optical microscopy is a fundamental tool in a range of disciplines encompassed by the physical and biological sciences. At the dawn of this millennium, a break-through was made in optical microscopy where super-resolution methods emerged and declared imaging beyond the optical diffraction limit a possibility. Most of these methods are based on fluorescence detection of single molecules. These meth
