Human Versus Machine: A Comparison of Robo-Analyst and Traditional Research Analyst Investment Recommendations

We provide the first comprehensive analysis of the properties of investment recommendations generated by “Robo-Analysts,” which are human-analyst-assisted computer programs conducting automated research analysis. Our results indicate that Robo-Analyst recommendations differ from those produced by traditional “human” research analysts across several important dimensions. First, Robo-Analysts produce a more balanced distribution of buy, hold, and sell recommendations than do human analysts and are less likely to recommend “glamour” stocks and firms with prospective investment banking business. Second, automation allows Robo-Analysts to revise their recommendations more frequently than human analysts and incorporate information from complex periodic filings. Third, while Robo-Analysts’ recommendations exhibit weak short-window return reactions, they have long-term investment value. Specifically, portfolios formed based on the buy recommendations of Robo-Analysts significantly outperform those of human analysts. Overall, our results suggest that automation in the sell-side research industry can benefit investors.

Percolation on interdependent networks with different group size distributions under targeted attack

Traditional research studies on interdependent networks with groups ignore the relationship between nodes in dependency groups. In real-world networks, nodes in the same group may support each other through cooperation and tend to fail or survive together. In this paper, based on the framework of group percolation, a cascading failure model on interdependent networks with cooperative dependency groups under targeted attacks is proposed, and the effect of group size distributions on the robustness of interdependent networks is investigated. The mutually giant component and phase transition point of networks with different group size distributions are analyzed. The effectiveness of the theory is verified through simulations. Results show that the robustness of interdependent networks with cooperative dependency groups can be enhanced by increasing the heterogeneity between groups under targeted attacks. The theory can well predict the numerical simulation results. This model provides some theoretical guidance for designing robust interdependent systems in real world.

Jaka przyszłość czeka muzeum archeologiczne? Dyskusja z tezami zawartymi w książce Moniki Stobieckiej: Natura artefaktu, kultura eksponatu. Projekt krytycznego muzeum archeologicznego

This article is of polemical nature. It discusses main theses of the recently published book by Monika Stobiecka: Natura artefaktu, kultura eksponatu. Projekt krytycznego muzeum archeologicznego (2020). The book presents contemporary archaeology as a very innovative discipline striving for interdisciplinarity and extending beyond traditional research issues and borders. At the same, the authoress postulates a need to reorient archaeology and create a new type of archaeological museum, namely critical museum – “museum of life”.

Assessment of the degree of restoration of the retinal structure and chorioretinal blood flow after surgical treatment of large-diameter macular holes

The aim: to evaluate the restoration features of the structural relationships of the retina and chorioretinal blood fl ow after surgical treatment of large-diameter macular hole (MH) using a modifi ed technology.Material and methods. A prospective study of 14 patients (14 eyes), 13 women and 1 man, with medium-and large-diameter MH was conducted. The mean age of the patients was 67.7 ± 5.38 (55–80) years. The study included patients with endto-end MH of the 3rd–4th stage according to the classifi cation of J. Gass. All patients underwent surgical treatment of macular rupture according to the proposed method of inverted fl ap of the internal limiting membrane (ILM) and fi lling it into a “pocket” formed between the retina and the ILM.Optical coherence tomography (OCT) was performed along with traditional research methods. The obtained images were used to measure manually the parameters of retinal MH, the thickness of the choroid in the projection of the rupture and the fovea zone before the operation and 1, 3 and 6 months after the operation. In the angio-mode, the foveal avascular zone (FAZ) was evaluated, as well as the density of capillaries of the superfi cial and deep retinal plexus in four quadrants, with the exception of the central zone.Results. In all patients, it was possible to achieve MH blocking. Visual acuity in the eyes with MH varied from 0.02 to 0.3, while in the comparison group, the best corrected visual acuity was from 0.3 to 1.0 (p = 0.002). An increase in the diameter of large choroidal vessels, as well as a pronounced decrease in the diameter of the posterior short ciliary artery, attracted attention. However, despite the improvement in visual acuity, patients retained a signifi cant expansion of the FAZ, which by 6 months exceeded the FAZ area of the paired eye by 25.8 % (p = 0.01).Conclusion. The results obtained indicate that the achievement of an anatomicalreconstructive effect and even a moderate improvement in visual acuity during surgical treatment of macular holes by the modifi ed inverted flap technology of the internal limiting membrane does not determine the restoration of retinal perfusion in full.

A Preregistered Validation Study of Methods Measuring Analytic and Holistic Cognitive Styles: What do We Actually Measure and How Well?

Cognitive styles are commonly studied constructs in cognitive psychology. It can be argued that measurement of these styles in the past had significant shortcomings in validity and reliability. The theory of analytic and holistic cognitive styles followed from traditional research of cognitive styles and attempted to overcome these shortcomings. Unfortunately, the psychometric properties of its measurement methods in many cases were debatable or not reported. New statistical approaches, such as analysis of reaction times, have been reported in the recent literature but remain overlooked by current research on analytic and holistic cognitive styles. The aim of this pre-registered study was to verify the psychometric properties (i.e., factor structure, split-half reliability, test-retest reliability, discriminant validity with intelligence and personality, and divergent, concurrent and predictive validity) of several methods routinely applied in the field. We developed/adapted six methods, and selected several types frequently applied in cognitive style research: self-report questionnaires, methods based on rod-and-frame test principles, embedded figures, and methods based on hierarchical figures. The analysis was conducted on 392 Czech participants, with two data collection waves. The results indicate that the use of self-report questionnaires and methods based on the rod-and-frame principle may be unreliable, demonstrating unsatisfactory factor structure and no absence of association with intelligence. The use of embedded and hierarchical figures is recommended. Because the concurrent and divergent validity of the methods did not correspond with the original two-dimensional theory, we formulated a new three-level hierarchical model of analytic and holistic cognitive styles which better described our empirical findings.

Neurolaw and the Neuroscience of Free Will: an Overview

Due to the advent of modern neuroscience, several scientific disciplines have developed entirely new theories, perspectives, and methodologies. The substantial advances and discoveries made in this field over the last decades, especially those concerned with human cognition and behavior, have steered the course of many traditional research areas and given rise to others, like neuroethics and neurolaw. Here we take a look at some of the general characteristics of the growing field of neurolaw, an interdisciplinary field that dwells on the intersection of law and neuroscience. We then discuss the neuroscience of free will, one of the most impacting and pressing topics in the neurolaw debate, with special attention to Libet’s paradigm, recent scientific developments, and novel interpretations that question customary assumptions about it.

Adoption of digital technology in the New Zealand motion picture industry

<p>This research applies Frambach's integrated model of the adoption and diffusion of innovations to the adoption of digital technology in the New Zealand motion picture industry. Previous models concerning innovation adoption have typically focused on adopter side variables. The model employed here integrates supply-side variables with the adopter-side variables focused on in traditional research. This research extends Frambach's model to consider the time and extent of adoption. The model is tested through a mail-out survey. Tests of associations between dependent and independent variables are carried out through four measures of association in a bivariate fashion. The results show that supply-side and adopter-side variables are both important influencers of the extent of adoption of digital technology in the motion picture industry. However supply-side factors do not appear to be important determinants of the time of adoption of digital technology in this industry.</p>

Black Rainbow: Stories of Māori and Pākehā working across difference

<p>This thesis examines the impacts of colonialism on the interpersonal experiences of Māori (indigenes) and Pākehā (settlers) involved in anarchist organising in Wellington, Aotearoa New Zealand. This research contributes to literature on urban Māori identity, processes of Pākehā change, and ‘biculturalism as lived’. It also contributes to international literature on indigene-settler relations, whiteness studies, activist studies and anti-oppressive praxis. The central research question is: how do Māori and Pākehā work together across difference? This question was also considered when developing a collaborative methodology, in response to Kaupapa Māori (indigenous) critiques of ‘traditional’ research. This involved establishing and working closely with Black Rainbow, a collective of five Māori and two Pākehā activists (including myself). We met over twelve months and recorded our discussions, as ‘interactive interviews’. These discussions have been transformed into ‘stories’ showing the rich shared meaning-making that occurred while we told tales of our experiences in the anarchist ‘scene’. The Black Rainbow discussions show the difficulties of working across difference in Pākehā dominated communities, where Pākehā often undermine or tokenise Māori identity, respond insensitively to Māori members’ concerns and fail to share power. Throughout this thesis I build on Uma Narayan’s work, arguing that ‘insiders’ epistemic privilege’ is based on lived experience and tied to identity, yet ‘repressive authenticity’ is often used to dismiss urban Māori identity and therefore, their epistemic privilege. Further, insiders’ epistemic privilege is experienced through emotional reactions, yet Māori ways of expressing emotion are often invalidated. Black Rainbow allowed Māori members to validate each other’s epistemic privilege, especially through humour. It also allowed a place for careful listening for Pākehā members. I argue that this listening is not passive, but also involved ‘learning to be affected’ by the ‘epistemological discomfort’ at the heart of ‘processes of Pākehā change’. I see this as the emotional cost of truly accepting insiders’ epistemic privilege, and I propose that sitting with this discomfort, shifts some of the emotional burden onto Pākehā, as well as the threat to identity that Māori may experience when working across difference.</p>

Black Rainbow: Stories of Māori and Pākehā working across difference

<p>This thesis examines the impacts of colonialism on the interpersonal experiences of Māori (indigenes) and Pākehā (settlers) involved in anarchist organising in Wellington, Aotearoa New Zealand. This research contributes to literature on urban Māori identity, processes of Pākehā change, and ‘biculturalism as lived’. It also contributes to international literature on indigene-settler relations, whiteness studies, activist studies and anti-oppressive praxis. The central research question is: how do Māori and Pākehā work together across difference? This question was also considered when developing a collaborative methodology, in response to Kaupapa Māori (indigenous) critiques of ‘traditional’ research. This involved establishing and working closely with Black Rainbow, a collective of five Māori and two Pākehā activists (including myself). We met over twelve months and recorded our discussions, as ‘interactive interviews’. These discussions have been transformed into ‘stories’ showing the rich shared meaning-making that occurred while we told tales of our experiences in the anarchist ‘scene’. The Black Rainbow discussions show the difficulties of working across difference in Pākehā dominated communities, where Pākehā often undermine or tokenise Māori identity, respond insensitively to Māori members’ concerns and fail to share power. Throughout this thesis I build on Uma Narayan’s work, arguing that ‘insiders’ epistemic privilege’ is based on lived experience and tied to identity, yet ‘repressive authenticity’ is often used to dismiss urban Māori identity and therefore, their epistemic privilege. Further, insiders’ epistemic privilege is experienced through emotional reactions, yet Māori ways of expressing emotion are often invalidated. Black Rainbow allowed Māori members to validate each other’s epistemic privilege, especially through humour. It also allowed a place for careful listening for Pākehā members. I argue that this listening is not passive, but also involved ‘learning to be affected’ by the ‘epistemological discomfort’ at the heart of ‘processes of Pākehā change’. I see this as the emotional cost of truly accepting insiders’ epistemic privilege, and I propose that sitting with this discomfort, shifts some of the emotional burden onto Pākehā, as well as the threat to identity that Māori may experience when working across difference.</p>