Southern Illinois University Carbondale

About: Southern Illinois University Carbondale is a education organization based out in Carbondale, Illinois, United States. It is known for research contribution in the topics: Population & Poison control. The organization has 13570 authors who have published 24819 publications receiving 667385 citations. The organization is also known as: SIU Carbondale & SIUC.

The predictive power of implied volatility: Evidence from 35 futures markets

Abstract: Using data from 35 futures options markets from eight separate exchanges, we test how well the implied volatilities (IVs) embedded in option prices predict subsequently realized volatility (RV) in the underlying futures. We find that for this broad array of futures options, IV performs well in a relative sense. For a large majority of the commodities studied, the implieds outperform historical volatility (HV) as a predictor of the subsequently RV in the underlying futures prices over the remaining life of the option. Indeed, in most markets examined, regardless of whether it is modeled as a simple moving average or in a GARCH framework, HV contains no economically significant predictive information beyond what is already incorporated in IV. These findings add to previous research that has focused on currency and crude oil futures by extending the analysis into a very broad array of contracts and exchanges. Our results are consistent with the hypothesis that futures options markets in general, with their minimal trading frictions, are efficient.

Evidence of a Formal Schema in Second Language Comprehension.

Abstract: Research on discourse comprehension has shown that comprehension is determined not only by the local effects (sentences or paragraphs), but also by the overall organization of a text. Each type of text—e.g., stories, fables, expository and scientific texts—has its own conventional structure; knowledge of these conventions aids listeners or readers in comprehending the text as well as in recalling it later (Kintsch and van Dijk 1975; Meyer 1975; Thorndyke 1977). Following Bartlett (1932), this knowledge has been called a schema, or more specifically, following Carrell (1983a), a formal schema. Recent empirical research has shown the powerful effects of formal schemata in first language comprehension for both adults and children (Mandler and Johnson 1977; Johnson and Mandler 1980). Findings for first language acquirers, children, show that at least by first grade children have acquired story schemata and use them to organize comprehension and recall of stories (Mandler 1978a). Yet, no comparable research has been done to empirically investigate the role of story schemata in second language comprehension. This paper reports an empirical study of the effects of story structure on second language comprehension, specifically reading comprehension in English as a second language. Results indicate that the quantity and temporal sequence of story recall are affected by differences in story structure. The findings are discussed in terms of schema-theoretic approaches to reading and the effects of formal, rhetorical schemata on ESL reading comprehension. The paper concludes with a call for further ESL research in this area.

Molecular Fluorescence, Phosphorescence, and Chemiluminescence Spectrometry

Abstract: As you may have already noted, this year introduces a new set of authors for this fundamental review. As new authors, they hope that they can do as accurate a job as did their predecessor, Professor Earl Wehry, of the University of Tennessee. The format for this review follows the basic outline used by Professor Wehry, with some modifications. They have condensed several sections and eliminated the section on gas-phase chemiluminescence. The primary areas of emphasis including advances in experimental techniques, developments in instrumentation, and applications for chemical analysis, remain the same. To keep the review at a reasonable length, they have not included articles that are only peripherally related to analytical chemistry or those that represent straightforward extensions or demonstrations of previously published research. In this first issue, it is likely that they have made some errors of omission, and they request your assistance in identifying any obvious errors. They have tried to be conscientious in surveying the literature and have also surveyed individual researchers in the field. This review covers literature indexed by Chemical Abstracts from January, 1985, Vol. 102, issue 1, through October 1987, Vol. 107, issue 16. Accordingly, there will be some overlap between this reviewmore » and Professor Wehry's last review.« less