Background: Lactic acid bacteria (LAB) isolated originally from sourdough are probably the best candidates as biopreservatives, because they are well adapted to the non-aseptic conditions in sourdough fermentation. The aim of the present study was to study antifungal properties of a dominant endogenous LAB isolated from whole barley sourdough. Methods: Whole barley flour from a mixture of ba...

1 This paper was presented at the ECB workshop “The Measures and Determinants of Financial Market Uncertainty”, at the 2002 meeting of the European Finance Association in Berlin, the Bank for International Settlements and the Oesterreichische Nationalbank. We are grateful to Claudio Borio, Eli Remolona, Christian Upper and an anonymous referee for their helpful comments. The opinions expressed ...

With the rapid development of the Internet, many retailers and individuals nowadays use this technology to engage in direct e-retailing sales. In this article, we investigate the value of demand-forecast information sharing in a manufacturer-e-retailer supply chain. The value of market information depends not only on its accuracy, but also on the e-retailer’s market power and the product’s Web ...

We study the problem of computing equilibrium prices in a Fisher market with linear utilities and linear single-constraint production units. This setting naturally appears in ad pricing where the sum of the lengths of the displayed ads is constrained not to exceed the available ad space. There are three approaches to solve market equilibrium problems: convex programming, auction-based algorithm...

In competitive environment of quick market changes, developing an interoperable manufacturing system is a necessity. To realise interoperability, the exchange of part and product data must be independent of their platforms. There are two basic approaches for this purpose: i utilising interfaces ii utilising neutral formats. Standard for the Exchange of Product data (STEP) plays a significant ro...

This paper provides an empirical investigation of the risk neutral variance process and the market price of variance risk implied in the foreign currency options market. There are three principal contributions. First, the parameters of Heston's (1993) mean-reverting square root stochastic volatility model are estimated using dollar/mark option prices from 1987 to 1992. Second, it is shown that ...

Our paper offers a minimalist model of a run on a financial market. The prime ingredient is that each risk-neutral investor fears having to liquidate after a run, but before prices can recover back to fundamental values. During the run, only the risk-averse market-making sector is willing to absorb shares. To avoid having to possibly liquidate shares at themarginal post-run price—in which case ...

Given that the options market is now very large and significant part of the trade of financial instruments, the evaluation of pricing of these derivatives becomes very important for regulators as well as market participants. The value of an option can be estimated by using a variety of quantitative techniques based on the concept of risk neutral pricing. In the famous Black-Scholes pricing form...

We investigate the existence of affine realizations for Lévy driven interest rate term structure models under the real-world probability measure, which so far has only been studied under an assumed risk-neutral probability measure. For models driven by Wiener processes, all results obtained under the risk-neutral approach concerning the existence of affine realizations are transferred to the ge...

This paper investigates how incentives of network operators to deviate from neutrality may create social costs or benefits in different market structures. The deviation from network neutrality is a general form of discrimination based on charging different prices for non-affiliated content and application providers. In this paper, deviation from network neutrality is formulated as a form of ver...