Overreaction and Availability Bias: Analysis of Real Estate Sector’s Stock Prices and Investors’ Reaction during Demonetisation in India

The stock market is full of events that affect the sensitivity reaction of investors at a large scale. Individual investor sentiment is just like his/her personal feeling depending upon their nature, risk appetite, and market scenario. This research study investigates the investors’ reaction in the stock market for the real estate segment during the massive market crisis in developing countries. Demonetisation of 2016 in India has been taken with the purpose of implementing a pilot study to analyse the overreaction and availability bias. The primary focus was on analysing how the investors react on the information of demonetisation and their pattern of investment in the stock market with a special emphasis on real estate sector where the effect of the event had dramatically changed the stock prices. Therefore, a pre- and post- analysis had been conducted to gauge the prices, sensitivity, and reaction of investors in the stock market. The reaction of the citizens after these events was found to be drastically affected. Five real estate companies had been focused upon in this study to examine the impact of investors’ overreaction owing to the demonetisation and their investment pattern for stocks during pre- and post- demonetisation period at that timeframe. The analysis was done on a shorter period of time so that the impact of overreaction and availability bias can be critically analysed. The paper thus exhibits how investor sentiments and reaction for stock preference had changed over time through statistical study.

Theoretical Investigation of Exchange Bias in Compensated Cases

The exchange bias （EB） of the ferromagnetic （FM）/antiferromagnetic （AFM） bilayers in a compensated case is studied by use of the many-body Green＇s function method of quantum statistical theory. The so-called compensated case is that there is no net magnetization on the AFM side of the interface. Our conclusion is that the EB in this case is primarily from the asymmetry of the interracial exchange coupling strengths between the FM and the two sublattices of the AFM. The effects of the layer thickness, temperature and the interracial coupling strength oi2 the exchange bias HE are investigated. The dependence of HE on the FM layer thickness and temperature is qualitatively in agreement with experimental results. HE is nearly inversely proportional to FM thickness. When temperature varies, both HE and He decrease with temperature increasing. The anisotropy of the FM layer only slightly influence He, but does not influence HE.

Comparison of Advanced Technology Microwave Sounder Biases Estimated Using Radio Occultation and Hurricane Florence(2018) Captured by NOAA-20 and S-NPP

The second Advanced Technology Microwave Sounder(ATMS)was onboard the National Oceanic and Atmospheric Administration(NOAA)-20 satellite when launched on 18 November 2017.Using nearly six months of the earliest NOAA-20 observations,the biases of the ATMS instrument were compared between NOAA-20 and the Suomi National Polar-Orbiting Partnership(S-NPP)satellite.The biases of ATMS channels 8 to 13 were estimated from the differences between antenna temperature observations and model simulations generated from Meteorological Operational(MetOp)-A and MetOp-B satellites’Global Positioning System(GPS)radio occultation(RO)temperature and water vapor profiles.It was found that the ATMS onboard the NOAA-20 satellite has generally larger cold biases in the brightness temperature measurements at channels 8 to 13 and small standard deviations.The observations from ATMS on both S-NPP and NOAA-20 are shown to demonstrate an ability to capture a less than 1-h temporal evolution of Hurricane Florence(2018)due to the fact that the S-NPP orbits closely follow those of NOAA-20.

Biased Random Number Generator Based on Bell's Theorem

We propose a biased random number generation protocol whose randomness is based on the violation of the Clauser Home inequality. Non-maximally entangled state is used to maximize the Bell violation. Due to the rotational asymmetry of the quantum state, the ratio of Os to ls varies with the measurement bases. The experimental partners can then use their measurement outcomes to generate the biased random bit string. The bias of their bit string can be adjusted by altering their choices of measurement bases. When this protocol is implemented in a device-independent way, we show that the bias of the bit string can still be ensured under the collective attack.

Inverse Length Biased Maxwell Distribution:Statistical Inference with an Application

In this paper,we suggested and studied the inverse length biased Maxell distribution(ILBMD)as a new continuous distribution of one parameter.The ILBMD is obtained by considering the inverse transformation technique of the Maxwell length biased distribution.Statistical characteristics of the ILBMD such as the moments,moment generating function,mode,quantile function,the coefficient of variation,coefficient of skewness,Moors and Bowley measures of kurtosis and skewness,stochastic ordering,stress-strength reliability,and mean deviations are obtained.In addition,the Bonferroni and Lorenz curves,Gini index,the reliability function,the hazard rate function,the reverse hazard rate function,the odds function,and the distributions of order statistics for the ILBMD,are presented.The ILBMD parameter is estimated using the maximum likelihood method,the method of moments,the maximum product of spacing technique,the ordinary and weight least square procedures,and the Cramer-Von-Mises methods.The Fishers information,as well as the Rényi and q-entropies,are derived.To investigate the usefulness of the proposed lifetime distribution and to illustrate the purpose of the study,a real dataset of the relief times of 20 patients receiving an analgesic is used.

China's New Tax System Benefits Foreign Investors

To meet the requirements of a socialist market economy and overcome the inherent sharp contradictions of the former taxation system, China began reforming the structure of its tax system this year. The structural reform has been carried out under theguidelines of unifying the tax law, creating equal treatment, simplifying the tax system, building up a rational tax revenue sharing system, redressing distribution relationships, standardizing the mode

Architectures in the Shadow of ＂Investors＇ Urban Planning＂--Case Study of Avala Hotel in Budva, Montenegro

Avala Hotel in Budva, Montenegro, has undergone three reconstructions. Each of them led to significant spatial changes. The first hotel established the foundation of urbanization process in Budva, the building was too high compared to the old town walls in the surrounding and thus not well integrated. The second reconstruction was the only successful achievement. At this time, in the first detailed urban plan including hotel and its surrounding area, the conclusion was that it represents ＂high-quality, seaside-favorable ambience＂ that should not be harmed by further building expansion. The last, illegal reconstruction in 2006 resulted in over enlarged new building disrespectful of the surrounding and the previous design. Similarly, the 2008 new detailed urban plan was the creation of ＂investors＇ urban planning＂. Entirely driven by profit, it arranges building reconstructions with multiple enlargements. This study tends to point out contextual impacts of the three hotels on the surrounding area, with special focus on the last reconstruction and ＂investors＇ urban planning＂ phenomena. The applied research method is comparative, chronological analysis of the three hotels. The aim of this research paper is to inspire initiatives that will help overcoming declining and harmful synergy of architecture and new socio-economic phenomena. It is the only way leading to the significant architectural goal： creating refined, harmonized and high quality ambience.

Why Do Foreign Investors Favor China's Market

China has led developing countries in direct foreign investment for eight consecutive years, with an inflow of more than US$40 billion of international capital annually. China has become a real hotspot of investment favored by worldwide investors. What is the role foreign investment has played in China’s economic development over the past years? According to an analysis report recently released by the National Information Center, during the two decades between 1980-99, of the 9.7-percent average annual growth rate of the GDP, 2.7 percentage points were contributed directly or indirectly by foreign capital utilization. 1. How Does Foreign Capital Stimulate China’s Economic Growth?

Digital Disparities:How Artificial Intelligence Can Facilitate Anti-Black Racism in the U.S.Healthcare Sector

This paper delves into the intricate interplay between artificial intelligence(AI)systems and the perpetuation of Anti-Black racism within the United States medical industry.Despite the promising potential of AI to enhance healthcare outcomes and reduce disparities,there is a growing concern that these technologies may inadvertently/advertently exacerbate existing racial inequalities.Focusing specifically on the experiences of Black patients,this research investigates how the following AI components:medical algorithms,machine learning,and natural learning processes are contributing to the unequal distribution of medical resources,diagnosis,and health care treatment of those classified as Black.Furthermore,this review employs a multidisciplinary approach,combining insights from computer science,medical ethics,and social justice theory to analyze the mechanisms through which AI systems may encode and reinforce racial biases.By dissecting the three primary components of AI,this paper aims to present a clear understanding of how these technologies work,how they intersect,and how they may inherently perpetuate harmful stereotypes resulting in negligent outcomes for Black patients.Furthermore,this paper explores the ethical implications of deploying AI in healthcare settings and calls for increased transparency,accountability,and diversity in the development and implementation of these technologies.Finally,it is important that I prefer the following paper with a clear and concise definition of what I refer to as Anti-Black racism throughout the text.Therefore,I assert the following:Anti-Black racism refers to prejudice,discrimination,or antagonism directed against individuals or communities of African descent based on their race.It involves the belief in the inherent superiority of one race over another and the systemic and institutional practices that perpetuate inequality and disadvantage for Black people.Furthermore,I proclaim that this form of racism can be manifested in various ways,such as unequal access to opportunities,resources,education,employment,and fair treatment within social,economic,and political systems.It is also pertinent to acknowledge that Anti-Black racism is deeply rooted in historical and societal structures throughout the U.S.borders and beyond,leading to systemic disadvantages and disparities that impact the well-being and life chances of Black individuals and communities.Addressing Anti-Black racism involves recognizing and challenging both individual attitudes and systemic structures that contribute to discrimination and inequality.Efforts to combat Anti-Black racism include promoting awareness,education,advocacy for policy changes,and fostering a culture of inclusivity and equality.

混合Poisson分布随机递增的条件

本文讨论服从混合Poisson分布的随机变量,证明了当混合参数依期望序,通常意义的随机序,增凸(凹)序,增的对数凸(凹)序,s-凸序或者下端有偏序增加时,变量本身也依相应的随机序增加。

Measuring Recreational Value of World Heritage Sites Based on Contingent Valuation Method:A Case Study of Jiuzhaigou

World heritage possesses various kinds of use value and non-use value. Measuring the recreational value of world heritage sites is a key issue in the heritage tourism. This paper employs Contingent Valuation Method (CVM), which is an evaluation instrument on the basis of tourists′ attitude and preference, to measure the recreational value of Jiuzhaigou, one of the World Natural Heritage sites in China, and analyzes the biases in the survey. The results show that: 1) In 2009, Jiuzhaigou′s recreational value was 3.46×108 yuan (RMB), and the per capita Willingness to Pay (WTP) was 137.31 yuan by CVM. Compared with the results of other methods, this result is significantly low. 2) Among the factors that influence Jiuzhaigou tourists′ WTP, psychological perception factors have the greatest effect while demographic and socio-economic characteristics have a small effect on WTP. 3) The virtuality in CVM creates biases both from CVM itself and in the procedures that CVM was implemented. The former includes hypothetical bias, information bias, protest response bias, and strategic bias; and the latter includes the questionnaire design, population and sample definition, sampling and data processing. The paper analyses those biases and illustrates their potential in-fluences on the accuracy of CVM measurement. 4) Although there are various defects in CVM measurement, it is still an effective valuation method.

一种基于UMHexagon S的改进算法

本文讨论了UMHexagon S算法的优缺点,提出了一种快速自适应的六边形菱形搜索算法,该算法结合了运动矢量的中心偏置特性、视频的空间相关性和时间相关性.该算法改进了UMHexagon S算法的六边形模板,利用相邻块和前一帧的对应块的运动矢量来判断运动状态.仿真实验结果表明,与UMHexagon S算法相比,在信噪比和码率基本不变的前提下,本算法降低了29.328%的编码时间.

Understanding the individual with Alzheimer’s disease: Can socioemotional selectivity theory guide us?

Individuals often get lost behind the diagnosis of Alzheimer’s disease (AD) while widespread differences between these patients are morecommon than similarities. Socioemotional Selectivity Theory (SST) suggests that as we age our goals change from future-oriented (acquiringnew information) to present-oriented (enhancing the emotional, especially positive, meaning of encounters). The goal of the current article is to examine whether the principles of SST might also apply for people with AD. Some aspects of SST are found especially in the early stages of AD when awareness is often intact and cognitive impairment is relatively limited. This review has clinical significance for the treatment of AD because it focuses on what is important to the individual rather than treating patients as a homogenous group. It also highlights the importance of social networks and emphasizes the role of the proxy in AD care. Lastly, it suggests that if those with AD (like the healthy elderly) have a positivity bias then positive emotional stimuli/wording/instructions could usefully be employed in their daily treatment. I suggest that SST may be a useful starting point when attempting to address what matters to individuals with AD and conclude by providing a few suggestions for future studies.

Insights into the structural biology of G-protein coupled receptors impacts drug design for central nervous system neurodegenerative processes

In the last few years, there have been important new insights into the structural biology of G-protein coupled receptors. It is now known that allosteric binding sites are involved in the affinity and selec- tivity of ligands for G-protein coupled receptors, and that signaling by these receptors involves both G-protein dependent and independent pathways. The present review outlines the physiological and pharmacological implications of this perspective for the design of new drugs to treat disorders of the central nervous system. Specifically, new possibilities are explored in relation to allosteric and or- thosteric binding sites on dopamine receptors for the treatment of Parkinson＇s disease, and on muscarinic receptors for Alzheimer＇s disease. Future research can seek to identify ligands that can bind to more than one site on the same receptor, or simultaneously bind to two receptors and form a dimer. For example, the design of bivalent drugs that can reach homo/hetero-dimers of D2 dopa- mine receptor holds promise as a relevant therapeutic strategy for Parkinson＇s disease. Regarding the treatment of Alzheimer＇s disease, the design of dualsteric ligands for mono-oligomeric mus- carinic receptors could increase therapeutic effectiveness by generating potent compounds that could activate more than one signaling pathway.

Comedy Movies and Stock Returns of Locally Headquartered Companies:Evidence from China

We utilize data on comedy moviegoers from 18 cities in China to investigate the impact of the positive mood triggered by these movies on the stock returns of locally headquartered listed companies.We find that although these movies have no relation to investment itself,the sentiment triggered by these movies could affect the risk decision making of investors.Moreover,the stock returns of locally headquartered companies become significantly negative after comedy movies are screened in their respective cities.These results support the mood maintenance hypothesis.This research also provides new evidence for the presence of home bias in capital markets.

Interpolation of Generalized Functions Using Artificial Neural Networks

In this paper we employ artificial neural networks for predictive approximation of generalized functions having crucial applications in different areas of science including mechanical and chemical engineering, signal processing, information transfer, telecommunications, finance, etc. Results of numerical analysis are discussed. It is shown that the known Gibb’s phenomenon does not occur.

Is the 2008 financial turmoil increasing the risk of a bank run？ An empirical research in Geneva

In this paper, the authors present the results of an empirical study that attempts to analyse the risk of bank run in Geneva, Switzerland. Two similar surveys have been conducted upon two independent samples of Geneva population （June 2008 and February 2009） to detect the existence of predictive signals leading to a bank run within the selected area. The authors discover that Geneva inhabitants are generally confident in Swiss banks; the risk of a bank run in the area is low. However, reliance to the national banking system is worsening： The number of people fearing about their savings and those thinking the default of a major Swiss bank as ＂possible＂ has significantly risen. Also, more and more people keep updated about the current financial crisis; overall trust in Swiss banks has slightly decreased.

压力还是监督:机构投资者调研与企业金融化

基于2013—2021年深交所A股上市公司面板数据,从监督效应和压力效应两种竞争视角,考察机构投资者调研对企业金融化的影响。结果表明,机构投资者调研对企业金融化具有正向影响。划分金融资产配置结构后发现,机构投资者调研能够促进企业配置“蓄水池”类金融资产,抑制企业配置“投资替代”类金融资产,这说明机构投资者调研对企业金融资产配置具有监督效应。进一步研究发现,融资约束较低、代理成本较高的企业,机构投资者调研对其金融资产配置的监督效应更强;机构投资者调研对金融资产配置的监督效应有助于提高企业全要素生产率。研究结果对有关部门完善投资者关系管理,借助市场手段改善“脱实向虚”问题提供了可行依据。