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Showing papers by "Purdue University published in 2001"


Journal ArticleDOI
Yong Qiu1, Kinam Park1
TL;DR: Development of environmentally sensitive hydrogels with a wide array of desirable properties can be made is a formidable challenge, however, if the achievements of the past can be extrapolated into the future, it is highly likely that responsive hydrogelWith such properties can been made.

4,216 citations


Proceedings ArticleDOI
Eberhart1, Yuhui Shi
27 May 2001
TL;DR: Developments in the particle swarm algorithm since its origin in 1995 are reviewed and brief discussions of constriction factors, inertia weights, and tracking dynamic systems are included.
Abstract: This paper focuses on the engineering and computer science aspects of developments, applications, and resources related to particle swarm optimization. Developments in the particle swarm algorithm since its origin in 1995 are reviewed. Included are brief discussions of constriction factors, inertia weights, and tracking dynamic systems. Applications, both those already developed, and promising future application areas, are reviewed. Finally, resources related to particle swarm optimization are listed, including books, Web sites, and software. A particle swarm optimization bibliography is at the end of the paper.

4,041 citations


Journal ArticleDOI
TL;DR: In this article, the authors show that when the training data set is small, PCA can outperform LDA and, also, that PCA is less sensitive to different training data sets.
Abstract: In the context of the appearance-based paradigm for object recognition, it is generally believed that algorithms based on LDA (linear discriminant analysis) are superior to those based on PCA (principal components analysis). In this communication, we show that this is not always the case. We present our case first by using intuitively plausible arguments and, then, by showing actual results on a face database. Our overall conclusion is that when the training data set is small, PCA can outperform LDA and, also, that PCA is less sensitive to different training data sets.

3,102 citations


Journal ArticleDOI
TL;DR: This paper found that vertical specialization accounts for 21% of these countries' exports, and grew almost 30% between 1970 and 1990, and also found that growth in vertical specialization accounted for 30% of the growth in these countries’ exports.

2,775 citations


Journal ArticleDOI
TL;DR: The present article is a comprehensive review of the current state of the art of mathematical modeling drug release from HPMC-based delivery systems and discusses the crucial points of the most important theories.

2,354 citations


Journal ArticleDOI
TL;DR: In this paper, the authors examined the direct and moderating effects of human capital on professional service firm performance and found that human capital exhibits a curvilinear (U-shaped) effect and leveraged human capital has a positive effect on performance.
Abstract: The current study examines the direct and moderating effects of human capital on professional service firm performance. The results show that human capital exhibits a curvilinear (U-shaped) effect and the leveraging of human capital a positive effect on performance. Furthermore, the results show that human capital moderates the relationship between strategy and firm performance, thereby supporting a resource-strategy contingency fit. The results contribute to knowledge on the resource-based view of the firm and the strategic importance of human capital.

2,252 citations


Journal ArticleDOI
TL;DR: It is shown that for the cases studied here, the relatively simple Min?min heuristic performs well in comparison to the other techniques, and one even basis for comparison and insights into circumstances where one technique will out-perform another.

1,757 citations


Journal ArticleDOI
TL;DR: In this study in situ Raman and Fourier transform infrared (FTIR) spectroscopic methods were combined with sorption techniques, electrophoretic mobility measurements, and surface complexation modeling to study the interaction of As(III) and As(V) with amorphous oxide surfaces.

1,181 citations


Journal ArticleDOI
TL;DR: A survey of U.S. universities supports this view, emphasizing the embryonic state of most technologies licensed and the need for inventor cooperation in commercialization as discussed by the authors, which is a moral hazard problem with inventor effort.
Abstract: Proponents of the Bayh-Dole Act argue that industrial use of federally funded research would be reduced without university patent licensing. Our survey of U.S. universities supports this view, emphasizing the embryonic state of most technologies licensed and the need for inventor cooperation in commercialization. Thus, for most university inventions, there is a moral-hazard problem with inventor effort. For such inventions, development does not occur unless the inventor's income is tied to the licensee's output by payments such as royalties or equity. Sponsored research from the licensee cannot by itself solve this problem.

1,152 citations


Journal ArticleDOI
TL;DR: This work presents a meta-analyses of serum Osteoporosis IgE levels in mice over a 12-month period that shows clear patterns of decline in meningitis and in women over a longer period of time.
Abstract: R. P. Heaney, S. Abrams, B. Dawson-Hughes, A. Looker, R. Marcus, V. Matkovic and C. Weaver Creighton University, Omaha, NE; Children’s Nutrition Research Center, Houston, TX; Tufts University, Boston, MA; National Osteoporosis Foundation, Washington, DC; National Center for Health Statistics, Hyattsville, MD; Stanford University, Palo Alto, CA; Ohio State University, Columbus, OH; and Purdue University, West Lafayette, IN, USA

1,135 citations


Proceedings ArticleDOI
27 May 2001
TL;DR: The experimental results illustrate that the fuzzy adaptive PSO is a promising optimization method, which is especially useful for optimization problems with a dynamic environment.
Abstract: A fuzzy system is implemented to dynamically adapt the inertia weight of the particle swarm optimization algorithm (PSO). Three benchmark functions with asymmetric initial range settings are selected as the test functions. The same fuzzy system has been applied to all three test functions with different dimensions. The experimental results illustrate that the fuzzy adaptive PSO is a promising optimization method, which is especially useful for optimization problems with a dynamic environment.

Journal ArticleDOI
TL;DR: Regression analyses demonstrated stronger baseline mood intensity and self-reported tendency to smoke to achieve pleasurable effects and to experience the desire to smoke when cigarettes are unavailable were predictive of general levels of craving report in active smokers in the laboratory and clinical setting.
Abstract: A brief, 10-item version of the Questionnaire of Smoking Urges (QSU; Tiffany & Drobes, British Journal of Addiction 86:1467-1476, 1991) was administered to 221 active cigarette smokers in a laboratory setting (Study 1) and to 112 smokers enrolled in a comprehensive smoking cessation program (Study 2). In the laboratory setting, craving to smoke was evaluated in response to neutral and smoking-related stimuli. In the clinical setting, craving was assessed prior to cessation and again during treatment. Factor analyses revealed that a two-factor solution best described the item structure of the QSU-Brief across conditions. Factor 1 items reflected a strong desire and intention to smoke, with smoking perceived as rewarding for active smokers. Factor 2 items represented an anticipation of relief from negative affect with an urgent desire to smoke. The findings were consistent with the expressions of craving found in the 32-item version of the QSU (Tiffany & Drobes, 1991). Regression analyses demonstrated stronger baseline mood intensity and self-reported tendency to smoke to achieve pleasurable effects and to experience the desire to smoke when cigarettes are unavailable were predictive of general levels of craving report in active smokers in the laboratory and clinical setting. The findings supported a multidimensional conceptualization of craving to smoke and demonstrated the utility of a brief multidimensional measure of craving.

Proceedings ArticleDOI
27 May 2001
TL;DR: Three kinds of dynamic systems are defined for the purposes of this paper and one of them is chosen for preliminary analysis using the particle swarm on the parabolic benchmark function.
Abstract: Using particle swarms to track and optimize dynamic systems is described. Issues related to tracking and optimizing dynamic systems are briefly reviewed. Three kinds of dynamic systems are defined for the purposes of this paper. One of them is chosen for preliminary analysis using the particle swarm on the parabolic benchmark function. Successful tracking of a 10-dimensional parabolic function with a severity of up to 1.0 is demonstrated. A number of issues related to tracking and optimizing dynamic systems with particle swarms are identified. Directions for future research and applications are suggested.

Journal ArticleDOI
TL;DR: In this article, an organizing model for understanding affective influences and their effects on group life is proposed, where individual-level affective characteristics that members bring to their groups: moods, emotions, sentiments, and emotional intelligence.

Journal ArticleDOI
TL;DR: This opening paper will summarize the current understanding of DTA, review the existing literature, make the connection to the approaches presented in this special issue, and attempt to hypothesize about the future.
Abstract: Dynamic Traffic Assignment (DTA) has evolved substantially since the pioneering work of Merchant and Nemhauser. Numerous formulations and solutions approaches have been introduced ranging from mathematical programming, to variational inequality, optimal control, and simulation-based. The aim of this special issue is to document the main existing DTA approaches for future reference. This opening paper will summarize the current understanding of DTA, review the existing literature, make the connection to the approaches presented in this special issue, and attempt to hypothesize about the future.

Journal ArticleDOI
TL;DR: In this paper, the authors obtained the first high-spatial-resolution (~1 arcsec), hard X-ray (0.5-7 keV) image of the central 40 pc (17 arcmin) of the Milky Way Galaxy and have discovered an Xray source, CXOGC J174540.
Abstract: We present results of our Chandra observation with the ACIS-I instrument centered on the position of Sagittarius A* (Sgr A*), the compact nonthermal radio source associated with the massive black hole (MBH) at the dynamical center of the Milky Way Galaxy. We have obtained the first high-spatial-resolution (~1 arcsec), hard X-ray (0.5-7 keV) image of the central 40 pc (17 arcmin) of the Galaxy and have discovered an X-ray source, CXOGC J174540.0-290027, coincident with the radio position of Sgr A* to within 0.35 arcsec, corresponding to a maximum projected distance of 16 light-days for an assumed distance to the center of the Galaxy of 8.0 kpc. We received 222 +/-17 (1 sigma) net counts from the source in 40.3 ks. Due to the low number of counts, the spectrum is well fit either by an absorbed power-law model with photon index Gamma = 2.7 (1.8-4.0) and column density NH = (9.8 [6.8-14.2]) x 10^22 cm^-2 (90% confidence interval) or by an absorbed optically thin thermal plasma model with kT = 1.9 (1.4-2.8) keV and NH = (11.5 [8.4-15.9]) x 10^22 cm^-2. Using the power-law model, the measured (absorbed) flux in the 2-10 keV band is (1.3 [1.1-1.7]) x 10^-13 ergs cm^-2 s^-1, and the absorption-corrected luminosity is (2.4 [1.8-5.4]) x 10^33 ergs s^-1. We also briefly discuss the complex structure of the X-ray emission from the Sgr A radio complex and along the Galactic plane and present morphological evidence that Sgr A* and Sgr A West lie within the hot plasma in the central cavity of Sgr A East.

Journal ArticleDOI
Issam Mudawar1
TL;DR: This paper explores the recent research developments in high-heat-flux thermal management and demonstrates that, while different cooling options can be tailored to the specific needs of individual applications, system considerations always play a paramount role in determining the most suitable cooling scheme.
Abstract: This paper explores the recent research developments in high-heat-flux thermal management. Cooling schemes such as pool boiling, detachable heat sinks, channel flow boiling, microchannel and mini-channel heat sinks, jet-impingement, and sprays, are discussed and compared relative to heat dissipation potential, reliability, and packaging concerns. It is demonstrated that, while different cooling options can be tailored to the specific needs of individual applications, system considerations always play a paramount role in determining the most suitable cooling scheme. It is also shown that extensive fundamental electronic cooling knowledge has been amassed over the past two decades. Yet there is now a growing need for hardware innovations rather than perturbations to those fundamental studies. An example of these innovations is the cooling of military avionics, where research findings from the electronic cooling literature have made possible the development of a new generation of cooling hardware which promise order of magnitude increases in heat dissipation compared to today's cutting edge avionics cooling schemes.

Journal ArticleDOI
TL;DR: Evidence for a function in redox control of cell signaling and gene expression is developing from studies on coenzyme Q stimulation of cell growth, inhibition of apoptosis, control of thiol groups, formation of hydrogen peroxide and control of membrane channels.
Abstract: Coenzyme Q is well defined as a crucial component of the oxidative phosphorylation process in mitochondria which converts the energy in carbohydrates and fatty acids into ATP to drive cellular machinery and synthesis. New roles for coenzyme Q in other cellular functions are only becoming recognized. The new aspects have developed from the recognition that coenzyme Q can undergo oxidation/reduction reactions in other cell membranes such as lysosomes, Golgi or plasma membranes. In mitochondria and lysosomes, coenzyme Q undergoes reduction/oxidation cycles during which it transfers protons across the membrane to form a proton gradient. The presence of high concentrations of quinol in all membranes provides a basis for antioxidant action either by direct reaction with radicals or by regeneration of tocopherol and ascorbate. Evidence for a function in redox control of cell signaling and gene expression is developing from studies on coenzyme Q stimulation of cell growth, inhibition of apoptosis, control of thiol groups, formation of hydrogen peroxide and control of membrane channels. Deficiency of coenzyme Q has been described based on failure of biosynthesis caused by gene mutation, inhibition of biosynthesis by HMG coA reductase inhibitors (statins) or for unknown reasons in ageing and cancer. Correction of deficiency requires supplementation with higher levels of coenzyme Q than are available in the diet.

Journal ArticleDOI
TL;DR: A psychometrically sound measure of athlete burnout was developed that correlated positively with stress, trait anxiety, and amotivation, and correlated negatively with coping, social support, enjoyment, commitment, and intrinsic motivation indices across the two studies.
Abstract: The purpose of this research was to develop a psychometrically sound measure of athlete burnout. In Study 1, exploratory factor analysis revealed burn-out dimensions reflective of emotional/physical exhaustion, reduced sense of swimming accomplishment, and swimming devaluation. In two subsequent studies, the psychometric properties of a refined version of this measure were examined. Independent samples of senior age-group swimmers and college athletes from a variety of sports completed a questionnaire that tapped the three burnout dimensions as well as stress- and motivation-related variables. Confirmatory factor analysis and alternative model testing supported the specified three-factor burnout model. In support of construct validity, the burnout subscales correlated positively with stress, trait anxiety, and amotivation, and correlated negatively with coping, social support, enjoyment, commitment, and intrinsic motivation indices across the two studies.

Journal ArticleDOI
TL;DR: This paper found that medium-size trades are associated with a disproportionately large cumulative stock price change relative to their proportion of all trades and volume, consistent with the predictions of Barclay and Warner's (1993) stealth-trading hypothesis.

Journal ArticleDOI
TL;DR: In this article, the authors conducted a survey of licensing at 62 research universities and analyzed the relationship between licensing outcomes and both the objectives of the TTO and the characteristics of the technologies.
Abstract: This paper describes results of our survey of licensing at 62 research universities. We consider ownership, income splits, stage of development, marketing, license policies and characteristics, goals of licensing and the role of the inventor in licensing. Based on these results we analyze the relationship between licensing outcomes and both the objectives of the TTO and the characteristics of the technologies. Patent applications grow one-to-one with disclosures, while sponsored research grows similarly with licenses executed. Royalties are typically larger the higher the quality of the faculty and the higher the fraction of licenses that are executed at latter stages of development. Sponsored research is more likely to be included in a license if the new technology is at an early stage of development or if the TTO evaluates it as important. We find that additional disclosures generate smaller percentage increases in licenses, and those increases in licenses generate smaller percentage increases in royalties.

Journal ArticleDOI
TL;DR: It is demonstrated via simulation results that the opportunistic transmission scheduling scheme is robust to estimation errors and also works well for nonstationary scenarios, resulting in performance improvements of 20%-150% compared with a scheduling scheme that does not take into account channel conditions.
Abstract: We present an "opportunistic" transmission scheduling policy that exploits time-varying channel conditions and maximizes the system performance stochastically under a certain resource allocation constraint. We establish the optimality of the scheduling scheme and also that every user experiences a performance improvement over any nonopportunistic scheduling policy when users have independent performance values. We demonstrate via simulation results that the scheme is robust to estimation errors and also works well for nonstationary scenarios, resulting in performance improvements of 20%-150% compared with a scheduling scheme that does not take into account channel conditions. Last, we discuss an extension of our opportunistic scheduling scheme to improve "short-term" performance.

Journal ArticleDOI
TL;DR: In this article, the effects of tillage practices on soil organism populations, functions, and interactions are discussed, and challenges for tillage researchers are discussed as well as a discussion of challenges for researchers.
Abstract: Tillage systems affect the soil physical and chemical environment in which soil organisms live, thereby affecting soil organisms. Tillage practices change soil water content, temperature, aeration, and the degree of mixing of crop residues within the soil matrix. These changes in the physical environment and the food supply of the organisms affect different groups of organisms in different ways. One of the challenges of research in soil ecology is to understand the impacts of management on the complex interactions of all organisms at the soil community level. In addition to the response of organisms to soil manipulations, agriculturalists are interested in the actions of soil organisms on the physical and chemical environment in the soil. Soil organisms perform important functions in soil, including structure improvement, nutrient cycling, and organic matter decomposition. This paper discusses the effects of tillage practices on soil organism populations, functions, and interactions. Although there is a wide range of responses among different species, most organism groups have greater abundance or biomass in no-till than in conventional tillage systems. Larger organisms in general appear to be more sensitive to tillage operations than smaller organisms, due to the physical disruption of the soil, burial of crop residue, and the change in soil water and temperature resulting from residue incorporation. Variations in responses found in different studies reflect different magnitudes of tillage disruption and residue burial, timing of the tillage operations, timing of the measurements, and different soil, crop, and climate combinations. The paper concludes with a discussion of challenges for tillage researchers.

Journal ArticleDOI
TL;DR: In this article, color edges in an image are first obtained automatically by combining an improved isotropic edge detector and a fast entropic thresholding technique, and the centroids between these adjacent edge regions are taken as the initial seeds for seeded region growing (SRG), these seeds are then replaced by the generated homogeneous image regions by incorporating the required additional pixels step by step.
Abstract: We propose a new automatic image segmentation method. Color edges in an image are first obtained automatically by combining an improved isotropic edge detector and a fast entropic thresholding technique. After the obtained color edges have provided the major geometric structures in an image, the centroids between these adjacent edge regions are taken as the initial seeds for seeded region growing (SRG). These seeds are then replaced by the centroids of the generated homogeneous image regions by incorporating the required additional pixels step by step. Moreover, the results of color-edge extraction and SRG are integrated to provide homogeneous image regions with accurate and closed boundaries. We also discuss the application of our image segmentation method to automatic face detection. Furthermore, semantic human objects are generated by a seeded region aggregation procedure which takes the detected faces as object seeds.

Proceedings ArticleDOI
27 Aug 2001
TL;DR: This paper describes and evaluates route-based distributed packet filtering (DPF), a novel approach to distributed DoS (DDoS) attack prevention, and shows that DPF achieves proactiveness and scalability, and there is an intimate relationship between the effectiveness of DPF at mitigating DDoS attack and power-law network topology.
Abstract: Denial of service (DoS) attack on the Internet has become a pressing problem. In this paper, we describe and evaluate route-based distributed packet filtering (DPF), a novel approach to distributed DoS (DDoS) attack prevention. We show that DPF achieves proactiveness and scalability, and we show that there is an intimate relationship between the effectiveness of DPF at mitigating DDoS attack and power-law network topology.The salient features of this work are two-fold. First, we show that DPF is able to proactively filter out a significant fraction of spoofed packet flows and prevent attack packets from reaching their targets in the first place. The IP flows that cannot be proactively curtailed are extremely sparse so that their origin can be localized---i.e., IP traceback---to within a small, constant number of candidate sites. We show that the two proactive and reactive performance effects can be achieved by implementing route-based filtering on less than 20% of Internet autonomous system (AS) sites. Second, we show that the two complementary performance measures are dependent on the properties of the underlying AS graph. In particular, we show that the power-law structure of Internet AS topology leads to connectivity properties which are crucial in facilitating the observed performance effects.

Journal ArticleDOI
TL;DR: A series of powerful and versatile conditional-replication, integration, and modular (CRIM) plasmids that encode different forms of resistance and can be used together in the same cell for stable expression of complex metabolic or regulatory pathways from diverse sources are developed.
Abstract: We have developed a series of powerful and versatile conditional-replication, integration, and modular (CRIM) plasmids. CRIM plasmids can be replicated at medium or high copy numbers in different hosts for making gene (or mutant) libraries. They can be integrated in single copies into the chromosomes of Escherichia coli and related bacteria to study gene function under normal physiological conditions. They can be excised from the chromosome, e.g., to verify that phenotypes are caused by their presence. Furthermore, they can be retrieved singly or en masse for subsequent molecular analyses. CRIM plasmids are integrated into the chromosome by site-specific recombination at one of five different phage attachment sites. Integrants are selected as antibiotic-resistant transformations. Since CRIM plasmids encode different forms of resistance, several can be used together in the same cell for stable expression of complex metabolic or regulatory pathways from diverse sources. Following integration, integrants are stably maintained in the absence of antibiotic selection. Each CRIM plasmid has a polylinker or one of several promoters for ectopic expression of the inserted DNA. Their modular design allows easy construction of new variants with different combinations of features. We also report a series of easily curable, low-copy-number helper plasmids encoding all the requisite Int proteins alone or with the respective Xis protein. These helper plasmids facilitate integration, excision (“curing”), or retrieval of the CRIM plasmids. Multicopy plasmids have greatly facilitated gene structurefunction studies. However, the use of such plasmids can lead to high-copy-number artifacts, especially in physiological studies. Thus, several methods have been developed for recombining genes on bacterial chromosomes in order to study their functions in single copies. Such methods are frequently used to construct novel Escherichia coli strains that stably express foreign genes for use in both basic research and biotechnology (5, 18, 27). However, the development of strains encoding complex metabolic or regulatory pathways poses special problems that often require manipulating many genes and expressing them individually at different levels or under separate regulatory controls. To address these concerns, we have developed a series of plasmid-host systems for the introduction of multiple genes into the same cell in single copies. Our approach is based on genome targeting systems that utilize plasmids carrying a conditional-replication origin and a phage attachment (attP) site (17). We refer to our plasmids as CRIM (conditionalreplication, integration, and modular) plasmids. CRIM plasmids can be integrated into or retrieved from their bacterial attachment (attB) site by supplying phage integrase (Int) without or with excisionase (Xis) in trans. Advantages of our CRIM plasmid-host systems include the use of alternative attP and attB sites (for phages , HK022, 80, P21, and P22) and different selectable markers (for chloramphenicol, gentamicin, kanamycin, spectinomycin and streptomycin, tetracycline, and trimethoprim resistance) in conjunc

Journal ArticleDOI
TL;DR: The results indicate that ErbB receptors differ in their ability to induce early stages of mammary carcinogenesis in vitro and this three-dimensional model system can reveal biological activities of oncogenes that cannot be examined in vitro in standard transformation assays.
Abstract: Both ErbB1 and ErbB2 are overexpressed or amplified in breast tumours. To examine the effects of activating ErbB receptors in a context that mimics polarized epithelial cells in vivo, we activated ErbB1 and ErbB2 homodimers in preformed, growth-arrested mammary acini cultured in three-dimensional basement membrane gels. Activation of ErbB2, but not that of ErbB1, led to a reinitiation of cell proliferation and altered the properties of mammary acinar structures. These altered structures share several properties with early-stage tumours, including a loss of proliferative suppression, an absence of lumen, retention of the basement membrane and a lack of invasive properties. ErbB2 activation also disrupted tight junctions and the cell polarity of polarized epithelia, whereas ErbB1 activation did not have any effect. Our results indicate that ErbB receptors differ in their ability to induce early stages of mammary carcinogenesis in vitro and this three-dimensional model system can reveal biological activities of oncogenes that cannot be examined in vitro in standard transformation assays.

Journal ArticleDOI
TL;DR: The results indicate that these two MDR-like genes of Arabidopsis encode 1-naphthylphthalamic acid binding proteins that are required for normal auxin distribution and auxin-mediated development.
Abstract: Arabidopsis possesses several genes related to the multidrug resistance (MDR) genes of animals, one of which, AtMDR1, was shown to be induced by the hormone auxin. Plants having mutations in AtMDR1 or its closest relative, AtPGP1, were isolated by a reverse genetic strategy. Auxin transport activity was greatly impaired in atmdr1 and atmdr1 atpgp1 double mutant plants. Epinastic cotyledons and reduced apical dominance were mutant phenotypes consistent with the disrupted basipetal flow of auxin. The auxin transport inhibitor 1-naphthylphthalamic acid was shown to bind tightly and specifically to AtMDR1 and AtPGP1 proteins. The results indicate that these two MDR-like genes of Arabidopsis encode 1-naphthylphthalamic acid binding proteins that are required for normal auxin distribution and auxin-mediated development.

Journal ArticleDOI
TL;DR: In this paper, a vanadium-doped, supported TiO2 photocatalyst is presented which is quite active using visible (396−450 nm) light, and the oxidation of ethanol over this catalyst was studied using 13C solid-state NMR methods that demonstrated that this catalyst photooxidizes ethanol to produce mostly carbon dioxide with small amounts of acetaldehyde, formic acid, and carbon monoxide under visible irradiation.
Abstract: A vanadium-doped, supported TiO2 photocatalyst is presented which is quite active using visible (396−450 nm) light. The oxidation of ethanol over this catalyst was studied using 13C solid-state NMR methods that demonstrated that this catalyst photooxidizes ethanol to produce mostly carbon dioxide with small amounts of acetaldehyde, formic acid, and carbon monoxide under visible irradiation. Under UV irradiation, the catalyst has comparable activity and product distribution as a similarly prepared TiO2 thin-film monolayer catalyst.

Journal ArticleDOI
TL;DR: In this article, the role of speculation in the formation of bubbles and crashes in laboratory asset markets was investigated, and it was found that much of the trading activity that accompanies bubble formation, in markets where speculation is possible, is due to the fact that there is no other activity available for participants in the experiment.
Abstract: We report the results of an experiment designed to study the role of speculation in the formation of bubbles and crashes in laboratory asset markets. In a setting in which speculation is not possible, bubbles and crashes are observed. The results suggest that the departures from fundamental values are not caused by the lack of common knowledge of rationality leading to speculation, but rather by behavior that itself exhibits elements of irrationality. Much of the trading activity that accompanies bubble formation, in markets where speculation is possible, is due to the fact that there is no other activity available for participants in the experiment.