Constant-sized correlations are sufficient to self-test maximally entangled states with unbounded dimension

Let p be an odd prime and let r be the smallest generator of the multiplicative group Zp∗. We show that there exists a correlation of size Θ(r2) that self-tests a maximally entangled state of local dimension p−1. The construction of the correlation uses the embedding procedure proposed by Slofstra (Forum of Mathematics, Pi. (2019)). Since there are infinitely many prime numbers whose smallest multiplicative generator is in the set {2,3,5} (D.R. Heath-Brown The Quarterly Journal of Mathematics (1986) and M. Murty The Mathematical Intelligencer (1988)), our result implies that constant-sized correlations are sufficient for self-testing of maximally entangled states with unbounded local dimension.

Taking the highway out: exiting the stock market to maximize results

Theoretical basis The essence of discounted cash flow valuation is simple; the asset is worth the expected cash flows it will generate, discounted to the reference date for the valuation exercise (normally, the day of the calculation). A survey article was written in Parker (1968), where it was stated that the earliest interest rate tables (use to discount value to the present) dated back to 1340. Works from Boulding (1935) and Keynes (1936) derived the IRR (Internal Rate of Return) for an investment. Samuelson (1937) compared the IRR and NPV (Net Present Value) approaches, arguing that rational investors should maximize NPV and not IRR. The previously mentioned works and the publication of Joel Dean’s reference book (Dean, 1951) on capital budgeting set the basis for the widespread use of the discounted cash flow approach into all business areas, aided by developments in portfolio theory. Nowadays, probably the model with more widespread use is the FCFE/FCFF (Free Cash Flow to Equity and Free Cash Flow to Firm) model. For simplification purposes, we will focus on the FCFE model, which basically is the FCF model’s version for the potential dividends. The focus is to value the business based on its dividends (potential or real), and thus care must be taken in order not to double count cash flows (this matter was treated in this case) and to assess what use is given to that excess cash flow – if it is invested wisely, what returns will come of them, how it is accounted for, etc. (Damodaran, 2006). The bridge to the FCFF model is straightforward; the FCFF includes FCFE and added cash that is owed to debtholders. References: Parker, R.H. (1968). “Discounted Cash Flow in Historical Perspective”, Journal of Accounting Research, v6, pp58-71. Boulding, K.E. (1935). “The Theory of a Single Investment”, Quarterly Journal of Economics, v49, pp479-494. Keynes, J. M. (1936). “The General Theory of Employment”, Macmillan, London. Samuelson, P. (1937). “Some Aspects of the Pure Theory of Capital”, Quarterly Journal of Economics, v51, pp. 469–496. Dean, Joel. (1951). “Capital Budgeting”, Columbia University Press, New York. Damodaran, A. (2006). “Damodaran on Valuation”, Second Edition, John Wiley and Sons, New York. Research methodology All information is taken from public sources and with consented company interviews. Case overview/synopsis Opportunities for value creation may be found in awkward and difficult circumstances. Good strategic thinking and ability to act swiftly are usually crucial to be able to take advantage of such tough environments. Amidst a country-wide economic crisis and general disbelief, José de Mello Group (JMG) saw one of its main assets’ (Brisa Highways) market value tumble down to unforeseen figures and was forced to act on it. Brisa’s main partners were eager in overpowering JMG’s control of the company, and outside pressure from Deutsche Bank was rising, due to the use of Brisa’s shares as collateral. JMG would have to revise its strategy and see if Brisa was worth fighting for; the market implicit assessment about the company’s prospects was very penalizing, but JMG’s predictions on Brisa’s future performance indicated that this could be an investment opportunity. Would it be wise to bet against the market? Complexity academic level This study is excellent for finance and strategy courses, at both undergraduate and graduate levels. Company valuation and corporate strategy are required.

Ein Vergleich zwischen dem neuen hochaufgelösten HYRAS-Globalstrahlungsdatensatz (1951-2015) und weiteren Referenzdatensätzen für Deutschland und angrenzende Flusseinzugsgebiete

<p>Die durch den Deutschen Wetterdienst (DWD) entwickelten Hydrometeorologischen Rasterdatensätze (HYRAS), mit den bisher bereits zur Verfügung stehenden Variablen Niederschlag, Temperatur und relative Feuchte, wurden zuletzt im Rahmen des Expertennetzwerks des Bundesministeriums für Verkehr und digitale Infrastruktur (BMVI) um die Variable Globalstrahlung ergänzt. Zur Erstellung der Rasterdatensätze werden tägliche Stationsmessungen der entsprechenden Variablen auf ein 5km x 5km Gitter interpoliert. Aktuell liegen die HYRAS-Daten für den Zeitraum von 1951-2015 vor und liefern klar definierte Referenzzustände für Deutschland und die angrenzenden Flusseinzugsgebiete.<br />Für die Arbeiten im Themenfeld 1 des BMVI-Expertennetzwerkes „Verkehr und Infrastruktur an Klimawandel und extreme Wetterereignisse anpassen“ stellt die Globalstrahlung eine wichtige Größe für die Berechnung der Verdunstung im Wasserhaushaltsmodell dar und führt zusammen mit den übrigen Variablen des HYRAS-Datensatzes zu realistischeren Ergebnissen der langzeitlichen Entwicklung des modellierten Abflussgeschehens. Dies verbessert auch die Aussagekraft für relevante Größen im Verkehrssektor wie beispielsweise dem Hoch- und Niedrigwasserabfluss. Neben der Anwendung für die Analyse des gegenwärtigen Klimas werden die HYRAS-Daten auch für die Bias-Adjustierung von Klimamodelldaten verwendet und tragen hierüber auch zur Validität von Klimaprojektionsergebnissen und hieraus abgeleiteten Anpassungsmaßnahmen bei.<br />Aus den genannten Anwendungen ergeben sich verschiedene Anforderungen an einen Rasterdatensatz der Globalstrahlung, wie die Abdeckung eines möglichst weit in die Vergangenheit zurückreichenden Zeitraums, die Abbildung von Extremwerten, des langfristigen Trends sowie der allgemeinen dekadischen Variabilität. Die Anforderungen sollten dabei nicht nur im Flächenmittel, sondern möglichst auch für einzelne Regionen wie z.B. kleinere Flusseinzugsgebiete erfüllt sein. <br />Neben der verwendeten Regionalisierungsmethodik hat vor allem auch die Verfügbarkeit von geeigneten Messdaten einen erheblichen Einfluss darauf, in welchem Umfang die genannten Anforderungen erfüllt werden können. Stationsmessungen der Globalstrahlung liegen im Zeitraum 1951-1980 für Deutschland und die angrenzenden Regionen, insbesondere in den Anfangsjahren, nur sehr vereinzelt vor. Zur Erstellung des HYRAS- Globalstrahlungsdatensatzes wurde aus diesem Grund ebenfalls auf Stationsmessungen der Sonnenscheindauer zurückgegriffen, die ab 1951 bereits zahlreich und flächendeckend vorliegen. Die tägliche Sonnenscheindauer lässt sich über ein einfaches lineares Regressionsverfahren nach Angstrom (1924) und Prescott (1940) in tägliche Summen der Globalstrahlung umrechnen. Um die Qualität des Verfahrens für die Umrechnung von Extremwerten zu verbessern, wurde mit dem Wolkenflüssigwassergehalt aus ERA5-Reanalysedaten ein weiterer Prädiktor implementiert. <br />Neben der Vorstellung des Verfahrens soll insbesondere ein Vergleich der Globalstrahlung zwischen dem neuen HYRAS-Datensatz und weiteren Referenzdatensätzen wie z.B. der ERA5-Reanalyse und dem CM SAF SARAH v2.1 Satellitendatensatz sowie Stationsmessungen für den Zeitraum 1951-2015 präsentiert werden. </p> <p>Angstrom A (1924): Solar and terrestrial radiation. Report to the international commission for solar research on actinometric investigations of solar and atmospheric radiation. Quarterly Journal of the Royal Meteorological Society 50(210), 121-126.</p> <p>Prescott JA (1940): Evaporation from a water surface in relation to solar radiation. Transaction of the Royal Society of South Australia 64(1), 114-118. </p>

Causality relationship between economic growth and environmental degradation. Case G-8

This article is an inductive argumentation and an empirical-analytical paradigm that evaluates the actual relationship between Gross Domestic Product (GDP) per capita and the Carbon Dioxide (CO2) in country groups of the G8 considered as developed in a period of time from 1960 to 2011. It was developed an Augmented Dickey-Fuller unit root (ADF), a Granger Causality Test and a Johansen Cointegration test. The results evidence the non-stationary of constrains in both countries. It was obtained a VAR model with two variables with a number of lags of four - VAR2 (4) to which were tested for causality by demonstrating a unidirectionality of GDP per capita to CO2. Keywords: economic growth, economic development, income distribution, environmental economics. References [1]G. Brundtland, «Our Common Future,» de Report of the World Commission on Environment and Development , 1987. [2]R. Bermejo, Del desarrollo sostenible según Brundtland a la sostenibilidad como biomimesis, Bilbao: Hegoa, 2014. [3]R. B. and. P. C. Fander Falconí, «Flacso,» 16 03 2016. [Online]. Available: https://www.flacsoandes.edu.ec/agora/62767-la-discutible-curva-de-kuznets. [Last access: 15 01 2021]. [4]E. Urteaga, «Las teorías económicas del desarrollo sostenible,» Cuadernos de Economía, vol. 32, nº 89, pp. 113-162, 2009. [5]V. K. Smith, Scarcity and Growth Reconsidered, Baltimore: The Johns Hopkins Press, 1979. [6]J. y. A. Medina, «Ingreso y desigualdad: la Hipótesis de Kuznets en el caso boliviano,» Espacios, vol. 38, nº31, p. 23, 2017. [7]M. Ahluwalia, «Inequality, poverty and development, » Journal of Development Economics, nº 3, pp. 307-342, 1976. [8]A. and R. D. Alesina, «Distributive politics and economic growth,» Quarterly Journal of Economics, vol. 109, nº 2, pp. 465-490, 1994. [9]R. Barro, «Inequality and growth in a panel of countries, » Journal of Economic Growth, vol. 5, nº 1, pp. 5-32, 2000. [10]M. A. Galindo, «Distribución de la renta y crecimiento económico,» de Anuario jurídico y económico escurialense, 2002, pp. 473-502. [11]A. Álvarez, «Distribución de la renta y crecimiento económico, Información Comercial Española, ICE,» Revista de economía, nº 835, pp. 95-100, 2007. [12]J. C. Núñez, «Crecimiento económico y distribución del ingreso: una perspectiva del Paraguay,» Población y Desarrollo, nº 43, pp. 54-61, 2016. [13]S. Kuznets, «Economic Growth and Income Inequality, » American Economic Review, nº 45, pp. 1-28, 1955. [14]J. A. and. C. J. Araujo, «Relación entre la desigualdad de la renta y el crecimiento económico en Brasil: 1995-2012.,» Problemas del desarrollo, vol. 46, nº 180, pp.129-150, 2015. [15]F. V. A. and P. C. Correa, «La Curva Medioambiental de Kuznets: Evidencia Empírica para Colombia Grupo de Economía Ambiental (GEA),» Semestre Económico, vol. 8, nº 15, pp. 13-30, 2005. [16]W. Malenbaum, World Demand for Raw Materials in 1985 and 2000, McGraw-Hill: New York, 1978. [17]W. Beckerman, «Economists, scientists, and environmental catastrophe,» Oxford Economic Papers, vol. 24, nº 3, 1972. [18]G. y. K. A. Grossman, «Economic Growth and the Environment,» The Quarterly Journal of Economics, vol. 110, nº 2, pp. 353-377, 1995. [19]N. Stokey, «Are there Limits to Growth?,» International Economic Review, vol. 39, nº 1, 1998. [20]W. and. C. W. Jaeger, «A Theoretical Basis for the Environmental Inverted-U Curve and Implications for International Trade,» de Discussant: Clive Chapple, New York, 1998. [21]T. B. K. B. R. and. G. K. Cavlovic, «A Mets-Analysis of Environmental Kuznets Curve Studies,» Agricultural and Resource Economics, nº 29, pp. 32-42, 2000. [22]M. and. S. T. Heil, «Carbon emissions and economic development: future trajectories based on historical experience, » Environment and Development Economics, vol. 6, nº 1, pp. 63-83, 2001. [23]U. S. R. and E. B. Soytas, «Energy consumption, income, and carbon emissions in the United States,» Ecological Economics, vol. 62, nº 3, pp. 482-489, 2007.[24]C. W. J. Granger, «Investigating causal relations by econometrics models and cross spectral methods,» Econometrica, nº 37, pp. 424-438, 1969. [25]M. and U. R. Nasir, «Environmental Kuznets Curve for carbon emissions in Pakistan: An empirical investigation,» Energy Policy, vol. 39, nº 3, pp. 1857-1864,2011. [26]S. Johansen, «Statistical Analysis of Cointegration Vectors,» Journal of Economic Dynamics and Control, vol. 12, nº 2, pp. 231-254, 1988. [27]B. Goldman, «Meta-Analysis of Environmental Kuznets Curve Studies: Determining the Cause of the Curve’s Presence,» de Honors Projects, 2012. [28] M. B. and T. T. Fosten, «Dynamic misspecification in the environmental Kuznets curve: Evidence from CO2 and SO2 emissions in the United Kingdom,» Ecological Economics, vol. 76, pp. 25-33, 2012.

The Psychic Force Serialized

This article considers the way chemist William Crookes utilized the editorship of the Quarterly Journal of Science to promote the scientific importance of spirit phenomena. It explores the publishing of Crookes’s series of sensational articles that investigated the ‘Psychic Force’, a purported force of nature that Crookes discovered during experiments with the medium Daniel Dunglas Home. Crookes thus used the platform afforded to him in the journal to describe his experiments and present his evidence within the framework of an orthodox scientific discourse. While Crookes endured much criticism from certain scientific men, the serial format of his investigation meant that he was able to generate a great deal of interest. It also meant that his subsequent articles in the series could respond to critics by adjusting his experiments, overcoming perceived difficulties, and providing his readers with new and exciting details concerning his ongoing investigation as it was being conducted.

SCIENTOMETRIC ANALYSIS OF QUARTERLY JOURNAL OF INDIAN JOURNAL OF ANIMAL NUTRITION (IJAN)

Using scientometric analysis, animal nutrition research from 2016 to 2020 was collected from the quarterly journal of the Indian Journals of Animal Nutrition. According to the research, 384 papers were written between 2016 and 2020, with 24 papers being highly published in 2016. As a result, animal nutrition is the most popular topic among scientists interested in veterinary research, with 1838 papers published out of 384. In particular, author Chander Data published 15 publications in the years (2016, 2017, 2018, and 2020), and some authors published (2,3,4,5,6,7,8,9,10,11,12) articles in the years (2016, 2017, 2018, and 2020).

WHY ECONOMICS IS AN EVOLUTIONARY, MATHEMATICAL SCIENCE: HOW COULD VEBLEN’S VIEW OF ECONOMICS HAVE BEEN SO DIFFERENT THAN PEIRCE’S?

More than a century ago, one of the most famous essays ever written in American economics appeared in the Quarterly Journal of Economics: “Why is Economics Not an Evolutionary Science?” There, Thorstein Veblen claimed that economics was too dominated by a mechanistic view to address the problems of economic life. Since the world and the economy had come to be viewed from an evolutionary perspective after Charles Darwin, it was rather straightforward to argue that the increasingly abstract mathematical character of economics was non-evolutionary. However, Veblen had studied with a first-rate intellect, Charles Sanders Peirce, attending his elementary logic class. If Peirce had written about the future of economics in 1898, it would have been very different than Veblen’s essay. Peirce could have written that economics should become an evolutionary mathematical science and that much of classical and neoclassical economics could be interpreted from an evolutionary perspective.

Análisis comparativo de la productividad entre Ecuador y Colombia una aplicación del modelo de crecimiento económico de Solow

En la presente investigación se analizaron los diferentes niveles de productividad de Ecuador y Colombia en el periodo 1990-2018 través del modelo de crecimiento económico de Solow y Swan, se plantea un método Hipotético deductivos de tipo no experimental cuantitativo; recaudando información de fuentesoficiales como el Banco central del Ecuador, el Banco de la Republica de Colombia, Banco mundial, The Conference Board, DANE, INEC, para realizar una serie de tablas anuales de las variables PIB, consumo, ahorro, FBKF, Variación de capital, tasa de depreciación, PEA y por ultimo inversión. Con conclusión de la investigación se evidencia que Colombia a lo largo del periodo es más productivo que Ecuador. Palabras Clave: Productividad, modelo de Solow y Swan, crecimiento económico, Ecuador, Colombia. Referencias [1]P. Sanchez Fernandez y A. Prada Blanco, «Del concepto de crecimiento económico al de desarrollo de las naciones: una aplicación a la Unión Europea,» Revista de Economía Mundial, nº 40, pp. 221-251, 2015. [2]N. Flores y R. Rodríguez, «Crecimiento económico y desarrollo humano,» Observatorio Laboral Revista Venezolana, vol. 4, nº 7, pp. 55-70, 2011. [3]M. Argüelles Vélez y C. Benavides González, «Conocimiento y crecimiento económico: una estrategia para los países en vías de desarrollo,» Revista de Economía Mundial, nº18, p. 2008, 2008. [4]N. Nagles García, «Productividad: una propuesta desde la gestión del conocimiento,» Revista Escuela de Administración de Negocios, nº 58, pp. 87-105, 2006. [5]H. Rincón de Parra, «Calidad, Productividad y Costos: Análisis de Relaciones entre estos Tres Conceptos,» Actualidad Contable Faces, vol. 4, nº 4, pp. 49-61, 2001. [6]R. Pérez Peña, «Indicadores de productividad y desarrollo para la ciudad-región de Girardot,» Revista Finanzas y Política Económica, vol. 6, nº 1, pp. 169-193, 2014. [7]R. Fernández Xicoténcatl, F. Almagro Vázquez y J. Terán Vargas, «Un análisis de la productividad total de factores ampliada en la industria manufacturera de México 2003-2010,» Investigación administrativa, vol. 42, nº 112, pp. 51-63, 2013. [8]J. Méndez Sayago, J. Méndez Sayago y E. Hernández, «PRODUCTIVIDAD TOTAL DE LOS FACTORES, CAMBIOTÉCNICO, EFICIENCIA TÉCNICA Y PIB POTENCIAL EN LATINOAMÉRICA,» Semestre Económico, vol.16, nº 34, pp. 65-91, 2013. [9]R. M. Solow, «A Contribution to the Theory of Economic Growth,» The Quarterly Journal of Economics, vol. 70, nº 1, pp. 65-94, 1956. [10]I. Z. Darío, «El modelo de crecimiento económico Solow-swan aplicado a la contaminación y su reciclaje,» Revista mexicana de ciencias forestales, vol. 4, nº 15, pp. 7-24, 2013. [11]A. Destinibles y J. Hernández, «El modelo de crecimiento de Solow. Aportes,» Aportes, vol. 6, nº 17, pp.147-152, 2001. [12]E. A. Fernández, «PIB potencial y productividad total de los factores. Recesiones y expansiones en México,» Economía mexicana nueva época, vol. 18, nº 2, pp. 175-219, 2009. [13]S. Acevedo, «Midiendo el impacto del capital humano en el crecimiento económico de Corea del Sur,» Ecos de Economía, nº 24, pp. 82-108, 2007. [14]A. R. Jiménez y A. P. Jacinto, «Métodos científicos de indagación y de construcción del conocimiento,» Revista EAN, nº 82, pp. 179-200, 2017. [15]A. R. Jiménez y A. P. Jacinto, «Métodos científicos de indagación y de construcción del conocimiento,» Revista EAN, nº 82, pp. 179-200, 2017.

The role of language production in making predictions during comprehension

Language comprehension depends heavily upon prediction, but how predictions are generated remains poorly understood. Several recent theories propose that these predictions are in fact generated by the language production system. Here, we directly test this claim. Participants read sentence contexts that either were or were not highly predictive of a final word, and we measured how quickly participants recognized that final word (Experiment 1), named that final word (Experiment 2), or used that word to name a picture (Experiment 3). We manipulated engagement of the production system by asking participants to read the sentence contexts either aloud or silently. Across the experiments, participants responded more quickly following highly predictive contexts. Importantly, the effect of contextual predictability was greater when participants had read the sentence contexts aloud rather than silently, a finding that was significant in Experiment 3, marginally significant in Experiment 2, and again significant in combined analyses of Experiments 1-3. These results indicate that language production (as used in reading aloud) can be used to facilitate prediction. We consider whether prediction benefits from production only in particular contexts, and discuss the theoretical implications of our evidence. [This is the final peer-reviewed manuscript ACCEPTED for publication in Quarterly Journal of Experimental Psychology. In citations, please refer to the journal publication.]

STATE-DEPENDENT FORMATION OF INFLATION EXPECTATIONS

The learning-from-experience model of Malmendier and Nagel [(2016) Quarterly Journal of Economics 131, 53–87] successfully reproduces the heterogeneity in inflation expectations across age groups. However, inflation expectations presumably depend on not only age and experience but also inflation regime. Therefore, this paper proposes an extended learning-from-experience model, in which expectation formation depends on inflation regime. Estimating the model with US data, I find that when inflation is higher and more volatile, households place more weight on recent data when making private forecasts. Moreover, in this regime, households rely more heavily on private forecasts than on public information.