causality and the perception of time

... ratio and the classic risk–return relationships of arbitrage pricing theory and the capital asset pricing model. The second hypothesis concerns the perception of time. I conjecture that in times of ... Q UANTITATIVE F INANCE The perception of time, risk and return during periods of speculation The ratio between a tick of intrinsic time and a second of calendar time varies from stock to stock, depending on the ... V consisting of w shares of ˜ P and 1−w shares of the riskless bond B, choosing w so that V and S have the same intrinsic -time risk, and, therefore, the same intrinsic -time expected return. Repeating the...

Ngày tải lên: 12/12/2013, 14:15

... Complexity, Teleology, and the Arrow of Time 199 The many-universes theory neatly solves the problem of the origin of the arrow of time. The wave function as a whole can be completely time- symmetric, ... percent of the nuclear matter was in the form of iso- lated protons – the nuclei of hydrogen. Hydrogen is the fuel of the stars. It drives the processes that generate most of the entropy in the universe ... provided by the Second Law, and have seen the naked purposelessness of nature. The deep structure of change is decay; the spring of change in all its forms is the corruption of the quality of energy as...

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Ngày tải lên: 12/08/2014, 18:22

... food stocks, and the mood of the garrison. The tactics of the Daily Mail captured the attention of the nation; the newspaper dramatized the situation of the town by emphasizing the danger that ... notions of Boer inhumanity toward Africans, the pro-war argument of the ‘‘negrophilists.’’ The other cat- egory into which mentions of Africans fall is praise of the loyalty of the Cape Boys and the ... Mafeking Night and the following day, they were ‘‘everyone’’ and ‘‘London’’ and even ‘‘England.’’ They were created as a group by the newspapers, and this chapter examines the mechanism of their creation and...

Ngày tải lên: 21/09/2012, 10:54

... symbol of the eagle on their shields), and at the same time, like Zeus, a guardian of oaths. In the Zoroastrian faith as well, Mithra, one of the foremost gods, was similarly a deity both of war and ... (such as the booby-trapping of temples), the use of poison, the destroying of wells and the sowing of dissension in the enemy’s ranks. 46 Thestruggleformoderationinwarhasbeenalong one – and one ... to the invasion of Greece a century and a half earlier, and also accusing the present Persian king, Darius, of complicity in the assassination of his father and of aiding rebels against Alexander within...

Ngày tải lên: 21/09/2012, 11:02

... Development Economics, 1996 (Washington, DC: The World Bank). Chernow, Ron, 1997, The Death of the Banker. The Decline and the Fall of the Great Financial Dynasties. The Triumph of the Small Investor (New York: ... publicly to the end- targets and the timeframe. They should explain to the public the reasons for agreeing on lower requirements and that they hold institutions to the announced standards. This ... output stabilizes the flow of funds that firms need to re- appropriate at the end of the circuit process. In terms of the CTF model discussed above, the large role of the state in the financial sector...

Ngày tải lên: 24/10/2012, 09:33

... for these countries the existence of cointegration could not be rejected. We therefore specify the VAR models in the level of the variables. Nevertheless, we neither impose the number of cointegrating ... countries: the fall of residential property prices is significantly different from zero even at the 95% level in Canada, Finland, the Netherlands, Norway, Sweden, Switzerland, the UK and the US. ... significant and shorter-lived than the GDP decline in the other group. The reactions of the other variables to a monetary policy shock are essentially the same. A third important characteristic of the...

Ngày tải lên: 24/10/2012, 09:40

... professional colleagues on the world. The Association has the role of coordinating the activities of the members in order to protect the interests of the members and improve the position of ... to be renewed to facilitate export and import. The General Department of Customs, the Ministry of Trade and examining bodies, and the Bureau of Standards and Measures should have consensus ... transaction standards and the quality of business activities for enhancing the efficiency of export and import activities, expanding the external economic relations and co-operate with other country...

Ngày tải lên: 27/10/2012, 16:42

... question on the amount consumed in lians (50g/lian) per unit of time. A lian is the unit of weight in China equivalent to 50 g. The reproducibility and validity of the FFQ was assessed in a random ... of type 2 DM in four prospective studies [3;5-7]. The available data on the association between meat intake and the risk of type 2 DM are limited to four health professionals cohorts and the ... cross-sectional study and thus, may not be directly generalizable to the general population. To better understand the relationship between the intake of meat and the risk of type 2 DM we prospectively...

Ngày tải lên: 31/10/2012, 16:49

... less than the level of HLA-DR in the cell lysates (5ul of a 1 in 10 dilution, from 2 x 10 6 PBMC). The shed HLA-DR therefore seemed to represent a small fraction of the total HLA-DR of the cell, ... Microbiology and Immunology from University of Leeds, and PhD in Immunology from University of Liverpool, where she worked on the expression of HLA-DR and the characterisation of the monocyte ... Director of BPL for his his help and support, the staff of the ITU at the RLUHT in particular the research nurses, Neal Gratton and Andrea Fazakerley for recruiting patients into the study....

Ngày tải lên: 03/11/2012, 09:57