scholarly journals Systemic failures and organizational risk management in algorithmic trading: Normal accidents and high reliability in financial markets

2021 ◽  
pp. 030631272110485
Author(s):  
Bo Hee Min ◽  
Christian Borch
Keyword(s):  
Large Scale ◽  
High Reliability ◽  
Algorithmic Trading ◽  
Tight Coupling ◽  
Market Participants ◽  
Documentary Sources ◽  
Complex Interactions ◽  
Systemic Risks ◽  
Market Instability ◽  
The Impact

This article examines algorithmic trading and some key failures and risks associated with it, including so-called algorithmic ‘flash crashes’. Drawing on documentary sources, 189 interviews with market participants, and fieldwork conducted at an algorithmic trading firm, we argue that automated markets are characterized by tight coupling and complex interactions, which render them prone to large-scale technological accidents, according to Perrow’s normal accident theory. We suggest that the implementation of ideas from research into high-reliability organizations offers a way for trading firms to curb some of the technological risk associated with algorithmic trading. Paradoxically, however, certain systemic conditions in markets can allow individual firms’ high-reliability practices to exacerbate market instability, rather than reduce it. We therefore conclude that in order to make automated markets more stable (and curb the impact of failures), it is important to both widely implement reliability-enhancing practices in trading firms and address the systemic risks that follow from the tight coupling and complex interactions of markets.

Changes in mechanisms and intensity of Western U.S. floods, 1960-2013

2021 ◽  
Author(s):  
Jessica Fayne ◽  
Huilin Huang ◽  
Mike Fischella ◽  
Yufei Liu ◽  
Zhaoxin Ban ◽  
...  
Keyword(s):  
Extreme Precipitation ◽  
Large Scale ◽  
Critical Factor ◽  
Flood Frequency ◽  
Atmospheric Rivers ◽  
Convective Storms ◽  
Noticeable Increase ◽  
Complex Interactions ◽  
Different Types ◽  
The Impact

<p>Extreme precipitation, a critical factor in flooding, has selectively increased with warmer temperatures in the Western U.S. Despite this, the streamflow measurements have captured no noticeable increase in large-scale flood frequency or intensity. As flood studies have mostly focused on specific flood events in particular areas, analyses of large-scale floods and their changes have been scarce. For floods during 1960-2013, we identify six flood generating mechanisms (FGMs) that are prominent across the Western U.S., including atmospheric rivers and non-atmospheric rivers, monsoons, convective storms, radiation-driven snowmelt, and rain-on-snow, in order to identify to what extent different types of floods are changing based on the dominant FGM. The inconsistency between extreme precipitation and lack of flood increase suggests that the impact of climate change on flood risk has been modulated by hydro-meteorological and physiographic processes such as sharp increases in temperature that drive increased evapotranspiration and decreased soil moisture. Our results emphasize the importance of FGMs in understanding the complex interactions of flooding and climatic changes and explain the broad spatiotemporal changes that have occurred across the vast Western U.S. for the past 50 years.</p>

scholarly journals "To Unite Telescope and Microscope": Concerning An Attempt to Solve Methodological and Source Studies Problems of Studying the History of the Russian Peasant Family of the Yepifan Uezd in the 16th – 20th Centuries

2021 ◽  
pp. 1265-1272
Author(s):  
Igor N. Yurkin ◽  
Keyword(s):  
Large Scale ◽  
High Reliability ◽  
Archival Studies ◽  
Human Communication ◽  
Documentary Sources ◽  
Russian Scientific ◽  
Source Studies ◽  
History Of ◽  
Peasant Family ◽  
First Time

The article assesses source and archival studies aspects of the V. P. Kozlov’s book “Remove to history ...”: The Peasant Family and Settlement of the Tula Region in the 16th – 20th Centuries. It is the first volume of the study, covering the period up to 1917. The work is devoted to the history and culture of the Yepifan uezd. This uezd is considered in two ways: as a territory, including the villages where the author’s ancestors lived, and as a part of its surroundings. The state of the territory is described for several periods. Via stepwise immersion accompanied by detailing of material, the author advances the restoration of the history of villages and their inhabitants. In the Russian scientific literature, an experience of large-scale and consistent implementation of this approach is a unique case. The author analyzes it theoretically, bringing it into correlation with trends of modern historical science and demonstrating its effectiveness. To study the history of the Yepifan uezd, a significant amount of documents, both published and stored in the archives, has been involved for the first time. V.P. Kozlov divides sources into three classes. In line with his approach used in his works on archeography, he characterizes eight types of sources. Among sources of personal provenance, he underscores oral history documents — records of his relatives’ memoirs collected over the years. He points to the cognitive heterogeneity of these sources: he emphasizes the need to take into account the “author's angles,” notes high reliability of correspondence, especially between relatives. Isolation by V. P. Kozlov of a special class of sacred documentary sources is new. The author refers to these documents as reflecting “relations with the sacred ... beliefs, convictions and symbols” and capturing “the sacrament of human communication with... extrahuman authority.” As an example, he cites his grandmother’s nightly prayers and recordings of miracles of St. Matrona of Moscow. V. P. Kozlov notes an abundance of such sources in the Russian archives. Identifying gaps in sources, he explains the reasons for different preservation of documentary complexes. He dwells on research methods that can partially compensate for the insufficiency of sources. He took some risk in choosing the inhabitants of a small village as main characters of his research. The analysis of source study and archival aspects of his research proves that such work can be successfully carried out even with insufficient sources.

scholarly journals Large-scale gene expression studies of the endometrium: what have we learnt?

Reproduction ◽  
2006 ◽  
Vol 132 (1) ◽  
pp. 1-10 ◽  
Author(s):  
Rob Sherwin ◽  
Rob Catalano ◽  
Andrew Sharkey
Keyword(s):  
Large Scale ◽  
Dna Microarrays ◽  
Disease States ◽  
Complex Interactions ◽  
Expression Studies ◽  
Proliferation And Differentiation ◽  
Potential Applications ◽  
Underlying Causes ◽  
Gene Expression Studies ◽  
The Impact

The endometrium is a dynamic tissue that undergoes coordinated changes under the influence of steroid hormones. This results in proliferation and differentiation culminating in a receptive state, followed by menstruation and endometrial repair. These functions involve complex interactions between the epithelium, stroma and leucocytes in the endometrium. Understanding the underlying causes of endometrial disorders, such as infertility, endometriosis and heavy menstrual bleeding, therefore represents a considerable challenge. Recently developed techniques, such as differential display and DNA microarrays permit the abundance of thousands of mRNA transcripts within cells or tissues to be measured simultaneously. This provides a new approach to understanding the complex interactions that underlie both healthy and disease states. Responses of the endometrium to hormones or drugs can be studied and the response of the system as an integrated whole can be assessed. Comparisons of endometrium from healthy women and those with endometrial dysfunction have advanced our understanding of key areas of endometrial physiology, including infertility, receptivity, endometriosis and cancer. Using this approach, novel genes controlling specific endometrial functions like receptivity have been identified for functional testing. This paper will review the impact of these techniques for transcript profiling on our understanding of selected areas of endometrial biology and discuss the potential applications in future.

scholarly journals When high reliability does not signal reliable detection of experimental effects

2020 ◽  
Author(s):  
Selena Wang ◽  
Paul De Boeck
Keyword(s):  
Measurement Error ◽  
Latent Variable ◽  
Large Scale ◽  
High Reliability ◽  
Negative Relationship ◽  
Ego Depletion ◽  
Measurement Quality ◽  
Depletion Effect ◽  
Replication Research ◽  
The Impact

The replication crisis has led to a renewed discussion about the impacts of measurement quality on the precision of psychology research. High measurement quality is associated with low measurement error, yet the relationship between reliability and measurement error is not yet well understood. In this study, we attempt to understand the role of reliability in the replication research through its relationship with power. We outline a latent variable framework to understand this nuanced relationship through their equations. We find that, under the influence of the latent variable variance, reliability and power can be negatively associated. We proceed to demonstrate the impact of this relationship between reliability and power in replication research by imitating different scenarios of large-scale replications. We find negative correlations between reliability and power when there are sizable differences in the latent variable variance and negligible differences in the other parameters across studies. Finally, we apply our conclusions to the data from replications of the ego depletion effect (Hagger et al., 2016) and the replications of the grammatical aspect effect (Eerland et al., 2016). The applications show that a negative relationship between reliability and power is a realistic possibility, which eliminates doubts one might have about the applicability of our results to the applied work.

Impact of COVID-19 on Nuclear Medicine in Germany, Austria and Switzerland: An International Survey in April 2020

2020 ◽  
Vol 59 (04) ◽  
pp. 294-299 ◽  
Author(s):  
Lutz S. Freudenberg ◽  
Ulf Dittmer ◽  
Ken Herrmann
Keyword(s):  
Nuclear Medicine ◽  
Health Systems ◽  
Personal Protective Equipment ◽  
Large Scale ◽  
Diagnostic Procedures ◽  
Protective Equipment ◽  
Current Crisis ◽  
Web Based ◽  
Public Versus Private ◽  
The Impact

Abstract Introduction Preparations of health systems to accommodate large number of severely ill COVID-19 patients in March/April 2020 has a significant impact on nuclear medicine departments. Materials and Methods A web-based questionnaire was designed to differentiate the impact of the pandemic on inpatient and outpatient nuclear medicine operations and on public versus private health systems, respectively. Questions were addressing the following issues: impact on nuclear medicine diagnostics and therapy, use of recommendations, personal protective equipment, and organizational adaptations. The survey was available for 6 days and closed on April 20, 2020. Results 113 complete responses were recorded. Nearly all participants (97 %) report a decline of nuclear medicine diagnostic procedures. The mean reduction in the last three weeks for PET/CT, scintigraphies of bone, myocardium, lung thyroid, sentinel lymph-node are –14.4 %, –47.2 %, –47.5 %, –40.7 %, –58.4 %, and –25.2 % respectively. Furthermore, 76 % of the participants report a reduction in therapies especially for benign thyroid disease (-41.8 %) and radiosynoviorthesis (–53.8 %) while tumor therapies remained mainly stable. 48 % of the participants report a shortage of personal protective equipment. Conclusions Nuclear medicine services are notably reduced 3 weeks after the SARS-CoV-2 pandemic reached Germany, Austria and Switzerland on a large scale. We must be aware that the current crisis will also have a significant economic impact on the healthcare system. As the survey cannot adapt to daily dynamic changes in priorities, it serves as a first snapshot requiring follow-up studies and comparisons with other countries and regions.

HOME VISITS DURING THE FIRST MONTH OF DELIVERY FOR RECENTLY DELIVERED WOMEN IN UTTAR PRADESH, INDIA

2020 ◽  
Vol 6 (5) ◽  
pp. 1183-1189
Author(s):  
Dr. Tridibesh Tripathy ◽  
Dr. Umakant Prusty ◽  
Dr. Chintamani Nayak ◽  
Dr. Rakesh Dwivedi ◽  
Dr. Mohini Gautam
Keyword(s):  
Large Scale ◽  
National Level ◽  
Uttar Pradesh ◽  
Life Time ◽  
Structured Interview ◽  
The Other ◽  
Registration System ◽  
Action Group ◽  
Current Article ◽  
The Impact

The current article of Uttar Pradesh (UP) is about the ASHAs who are the daughters-in-law of a family that resides in the same community that they serve as the grassroots health worker since 2005 when the NRHM was introduced in the Empowered Action Group (EAG) states. UP is one such Empowered Action Group (EAG) state. The current study explores the actual responses of Recently Delivered Women (RDW) on their visits during the first month of their recent delivery. From the catchment area of each of the 250 ASHAs, two RDWs were selected who had a child in the age group of 3 to 6 months during the survey. The response profiles of the RDWs on the post- delivery first month visits are dwelled upon to evolve a picture representing the entire state of UP. The relevance of the study assumes significance as detailed data on the modalities of postnatal visits are available but not exclusively for the first month period of their recent delivery. The details of the post-delivery first month period related visits are not available even in large scale surveys like National Family Health Survey 4 done in 2015-16. The current study gives an insight in to these visits with a five-point approach i.e. type of personnel doing the visit, frequency of the visits, visits done in a particular week from among those four weeks separately for the three visits separately. The current study is basically regarding the summary of this Penta approach for the post- delivery one-month period.     The first month period after each delivery deals with 70% of the time of the postnatal period & the entire neonatal period. Therefore, it does impact the Maternal Mortality Rate & Ratio (MMR) & the Neonatal Mortality Rates (NMR) in India and especially in UP through the unsafe Maternal & Neonatal practices in the first month period after delivery. The current MM Rate of UP is 20.1 & MM Ratio is 216 whereas the MM ratio is 122 in India (SRS, 2019). The Sample Registration System (SRS) report also mentions that the Life Time Risk (LTR) of a woman in pregnancy is 0.7% which is the highest in the nation (SRS, 2019). This means it is very risky to give birth in UP in comparison to other regions in the country (SRS, 2019). This risk is at the peak in the first month period after each delivery. Similarly, the current NMR in India is 23 per 1000 livebirths (UNIGME,2018). As NMR data is not available separately for states, the national level data also hold good for the states and that’s how for the state of UP as well. These mortalities are the impact indicators and such indicators can be reduced through long drawn processes that includes effective and timely visits to RDWs especially in the first month period after delivery. This would help in making their post-natal & neonatal stage safe. This is the area of post-delivery first month visit profile detailing that the current article helps in popping out in relation to the recent delivery of the respondents.   A total of four districts of Uttar Pradesh were selected purposively for the study and the data collection was conducted in the villages of the respective districts with the help of a pre-tested structured interview schedule with both close-ended and open-ended questions.  The current article deals with five close ended questions with options, two for the type of personnel & frequency while the other three are for each of the three visits in the first month after the recent delivery of respondents. In addition, in-depth interviews were also conducted amongst the RDWs and a total 500 respondents had participated in the study.   Among the districts related to this article, the results showed that ASHA was the type of personnel who did the majority of visits in all the four districts. On the other hand, 25-40% of RDWs in all the 4 districts replied that they did not receive any visit within the first month of their recent delivery. Regarding frequency, most of the RDWs in all the 4 districts received 1-2 times visits by ASHAs.   Regarding the first visit, it was found that the ASHAs of Barabanki and Gonda visited less percentage of RDWs in the first week after delivery. Similarly, the second visit revealed that about 1.2% RDWs in Banda district could not recall about the visit. Further on the second visit, the RDWs responded that most of them in 3 districts except Gonda district did receive the second postnatal visit in 7-15 days after their recent delivery. Less than half of RDWs in Barabanki district & just more than half of RDWs in Gonda district received the third visit in 15-21 days period after delivery. For the same period, the majority of RDWs in the rest two districts responded that they had been entertained through a home visit.

The Impact of Quantitative Easing on Emerging Markets – Literature Review

e-Finanse ◽  
2018 ◽  
Vol 14 (4) ◽  
pp. 67-76
Author(s):  
Piotr Bartkiewicz
Keyword(s):  
Emerging Markets ◽  
Large Scale ◽  
Empirical Literature ◽  
Quantitative Easing ◽  
Methodological Choices ◽  
The Subject ◽  
Methodological Approaches ◽  
The Impact ◽  
Sufficient Precision

AbstractThe article presents the results of the review of the empirical literature regarding the impact of quantitative easing (QE) on emerging markets (EMs). The subject is of interest to policymakers and researchers due to the increasingly larger role of EMs in the world economy and the large-scale capital flows occurring after 2009. The review is conducted in a systematic manner and takes into consideration different methodological choices, samples and measurement issues. The paper puts the summarized results in the context of transmission channels identified in the literature. There are few distinct methodological approaches present in the literature. While there is a consensus regarding the direction of the impact of QE on EMs, its size and durability have not yet been assessed with sufficient precision. In addition, there are clear gaps in the empirical findings, not least related to relative underrepresentation of the CEE region (in particular, Poland).

Dietary Patterns: A New Therapeutic Approach for Depression?

2019 ◽  
Vol 20 (2) ◽  
pp. 123-129 ◽  
Author(s):  
Mariana Jesus ◽  
Tânia Silva ◽  
César Cagigal ◽  
Vera Martins ◽  
Carla Silva
Keyword(s):  
Depressive Symptoms ◽  
Dietary Patterns ◽  
Large Scale ◽  
Randomized Clinical Trials ◽  
Dietary Intervention ◽  
Common Mental Disorder ◽  
Controlled Trial ◽  
Statistical Significance ◽  
Inverse Association ◽  
The Impact

Introduction: The field of nutritional psychiatry is a fast-growing one. Although initially, it focused on the effects of vitamins and micronutrients in mental health, in the last decade, its focus also extended to the dietary patterns. The possibility of a dietary cost-effective intervention in the most common mental disorder, depression, cannot be overlooked due to its potential large-scale impact. Method: A classic review of the literature was conducted, and studies published between 2010 and 2018 focusing on the impact of dietary patterns in depression and depressive symptoms were included. Results: We found 10 studies that matched our criteria. Most studies showed an inverse association between healthy dietary patterns, rich in fruits, vegetables, lean meats, nuts and whole grains, and with low intake of processed and sugary foods, and depression and depressive symptoms throughout an array of age groups, although some authors reported statistical significance only in women. While most studies were of cross-sectional design, making it difficult to infer causality, a randomized controlled trial presented similar results. Discussion: he association between dietary patterns and depression is now well-established, although the exact etiological pathways are still unknown. Dietary intervention, with the implementation of healthier dietary patterns, closer to the traditional ones, can play an important role in the prevention and adjunctive therapy of depression and depressive symptoms. Conclusion: More large-scale randomized clinical trials need to be conducted, in order to confirm the association between high-quality dietary patterns and lower risk of depression and depressive symptoms.

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