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2020 ◽  
Vol 174 ◽  
pp. 105508 ◽  
Author(s):  
Mingyou Chen ◽  
Yunchao Tang ◽  
Xiangjun Zou ◽  
Kuangyu Huang ◽  
Zhaofeng Huang ◽  
...  

Author(s):  
J. Christopher Westland

Internet auction markets offer customers a compelling new model for price discovery. This model places much more power in the hands of the consumer than a retail model that assumes price taking, while giving consumers choice of vendor and product. Models of auction market automation has been evolving for some time. Securities markets in most countries over the past decade have invested significantly in automating various components with database and communications technologies. This paper explores the automation of three emerging market exchanges ( The Commercial Exchange of Santiago, The Moscow Central Stock Exchange, and Shanghai’s Stock Exchange ( with the intention of drawing parallels between new Internet models of retailing and the older proprietary networked markets for financial securities.


Author(s):  
J. Christopher Westland

Internet auction markets offer customers a compelling new model for price discovery. This model places much more power in the hands of the consumer than a retail model that assumes price taking, while giving consumers choice of vendor and product. Models of auction market automation has been evolving for some time. Securities markets in most countries over the past decade have invested significantly in automating various components with database and communications technologies. This paper explores the automation of three emerging market exchanges (The Commercial Exchange of Santiago, The Moscow Central Stock Exchange, and Shanghai’s Stock Exchange) with the intention of drawing parallels between new Internet models of retailing and the older proprietary networked markets for financial securities.


Paleobiology ◽  
1988 ◽  
Vol 14 (4) ◽  
pp. 345-363 ◽  
Author(s):  
Kuo-Yen Wei ◽  
James P. Kennett

Substantial geographic coverage in paleontological study is essential in testing evolutionary models of phyletic gradualism and punctuated equilibrium. We present a multivariate morphometric study of the late Neogene planktonic foraminiferal clade Globoconella using specimens from four Deep Sea Drilling Project sites (DSDP 284, 207A, 208, and 588) along a latitudinal traverse in the southwest Pacific.During the Late Miocene (7 Ma to 5 Ma), populations of the ancestral species Globorotalia (Globoconella) conomiozea formed a geographic cline showing continuous morphological variation from the temperate sites (DSDP 284 and 207A) to the warm subtropical sites (DSDP 208 and 588). Populations living to the south had higher conical angle and fewer chambers in the final whorl compared to the northern populations. Nevertheless, populations across the entire cline exhibited a coherent, directional trend towards having larger conical angle and fewer chambers through time. At the Miocene/Pliocene boundary, the intensification of the Tasman Front (Subtropical Divergence) possibly isolated the peripheral populations in the warm subtropics from the central stocks of the temperate water masses. The evolutionary trends became decoupled: the central populations gradually lost their keel and transformed into G. (G.) sphericomiozea, while the peripheral populations in the warm subtropical areas retained their keel and evolved into a flattened species, G. (G.) pliozea.The gradual transformation of G. (G.) conomiozea terminalis (a form retaining a keel) into G. (G.) sphericomiozea (a form lacking a keel) occurred during an interval of about 0.2 m.y., with all measured morphologic variables showing continuous and steady changes. The evolution of the central populations follows the model of phyletic gradualism. In peripheral populations, the origin of the descendant species G. (G.) pliozea from the ancestor G. (G.) conomiozea terminalis occurred very rapidly within an interval of less than 0.01 m.y. The population size of G. (G.) pliozea was small at the incipient stage at about 5.05 Ma, but increased rapidly to become dominant during the next 0.2 m.y. when the ancestral species G. (G.) conomiozea terminalis became locally extinct. Following speciation, G. (G.) pliozea exhibited morphological stasis for about 0.6 m.y., until the central stock form G. (G.) puncticulata migrated back to the warm subtropics; during the next 0.5 m.y. of their sympatry, there is no sign of hybridization between these two sister species. The evolution of G. (G.) pliozea follows the model of punctuated equilibrium.The evolution of the Globoconella clade shows both phyletic gradualism and punctuated equilibrium. These two “alternative” evolutionary models complement each other rather than being mutually exclusive. Both models are indispensable towards providing a complete picture of the evolution of Globoconella.


1964 ◽  
Vol 45 ◽  
pp. 1-75
Author(s):  
C.H Emeleus

The Grønnedal-fka alkaline complex consists of predominantly foyaitic nepheline syenites and carbonatite intruding gneisses and metasediments near Ivigtût, South Greenland. The complex is intruded by numerous dolerite, basalt, trachyte and phonolite dykes; it is severely faulted. The complex is considered to be of Pre-Cambrian age. Several distinct intrusive phases are recognised in the syenites: an early Lower Series, mainly of medium-grained well-laminated foyaite, is overlain by a raft-like mass of gneiss that separates it from a later, Upper Series containing foyaite, a pyroxene-rich syenite, and pulaskite in small amounts. The Upper Series rocks are generally well-laminated and in addition a small amount of conformable mafic layering is developed in the pyroxene-rich member. There are structural and textural similarities between the laminated and layered members of the Lower and Upper Series, and igneous cumulates. The north-western margin of the complex is defined by a curving dyke-like intrusion of granular syenite, considered to be an incomplete ringdyke. The Upper Series syenites are cut by a steep-sided body of porphyritic xenolithic syenite, the latest major syenite intrusion in the complex. The nepheline syenites have been intruded by carbonatite which was forcibly emplaced with brecciation and metasomatic alteration of its surroundings. The carbonatite is calcite-rich (Sovite) with variable quantities of siderite, sphalerite, apatite and other minerals. The earliest dykes cutting the alkaline complex are a sparse set of lamprophyres, these were followed by thin sheets and dykes of dolerite containing numerous plagioclase phenocrysts, often several centimetres in length. There then followed several thick dykes of olivine dolerite, striking between K-W. and N.K-S.W. and members of a regional swarm. These are cut by a group of thin, microporphyritic basalts and subsequently by two groups of trachytic and phonolitic dykes; an early sparse set striking approximately N.N.W.-S.S.E. and restricted to the vicinity of the complex, and a later, E.N.E.-W.S.W. striking set that are part of an extensive swarm in the country around lvigtût. Finally, faulting took place in three stages: i) an early group of dextral transcurrent faults striking about N. 10-30 E., ii) an E.S.E.-W.N.W. striking sinistral transcurrent fault, the Laksenæs Fault, and iii) a late dextral transcurrent group striking approximately N.-S. There is evidence of some overlap between the emplacement of the trachytic and phonolitic dykes, and the faulting. The present outline of the complex measures approximately 8 km. from N.N.W. to S.S.E. and 2.8 km. from E.N.E. to W.S.W. When allowance is made for the distortion due to dyke intrusion and faulting the original outline is found to have been about 6 km. from N.W. to S.E. and 3.5 from N.E. to S.W. The original structure is seen to have been relatively simple, consisting of two series of laminated and layered syenites with centrally-directed structures separated by a raft of gneiss, and a later central stock of porphyritic xenolithic syenite. The syenites were cut by a central plug of xenolithic carbonatite, zoned from calcite-rich margins to a core containing appreciable quantities of siderite and other minerals. Metamorphism of the siderite-rich core by an olivine dolerite dyke resulted in the formation of a small body of magnetite-rich carbonate rock in the centre of the complex.


1938 ◽  
Vol 29 (2) ◽  
pp. 215-218 ◽  
Author(s):  
F. D. Golding

The Nigerian Agricultural Department is endeavouring to find cattle with a sufficiently high degree of natural resistance to trypanosomiasis to enable them to be utilised for mixed farming in the Ilorin Province and elsewhere in the Middle Belt of Nigeria. In April 1935, a herd of West African Shorthorn cattle was obtained from the Gold Coast and these and other animals, purchased in Nigeria, were established at a central stock farm at Ilorin.


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