This paper analyzes the impact of technological diversity on innovation inputs and success using Swiss firm-level panel data. While we do not find any impact of diversity on R&D intensity, we confirm a positive impact of diversity on patent applications as suggested by the literature. However, since patent applications reflect an intermediate innovation input rather than output, we extend the a...

We present Blitzkriging, a new approach to fast inference for Gaussian processes, applicable to regression, optimisation and classification. State-of-the-art (stochastic) inference for Gaussian processes on very large datasets scales cubically in the number of ‘inducing inputs’, variables introduced to factorise the model. Blitzkriging shares state-of-the-art scaling with data, but reduces the ...

“Hybrid” climate policy simulations have sought to bridge the gap between “bottom-up” engineering and “top-down” macroeconomic models by integrating the former's energy technology detail into the latter's macroeconomic framework. Construction of hybrid models is complicated by the need to numerically calibrate them to multiple, incommensurate sources of economic and engineering data. I develop ...

What drives the dynamics of top wealth inequality? To answer this question, I propose an accounting framework that decomposes growth share aggregate owned by a percentile into three terms: within term, which is average individuals initially in relative to economy; between accounts for entering and exiting due changes their rankings; demography or death population growth. obtain closed‐form expr...

In this paper, we introduce the MSCI China A-shares index (MCASI) and analyze MCASI’s properties. From perspective of investment, found that investor sentiments, both overnight sentiment BW sentiment, provide significant predictability for future MCASI returns, supported by in-sample out-of-sample results. sector show portfolio “information transfer, software information technology services” pe...

Agricultural labor productivity is key for understanding aggregate cross-country income differences. One important proximate cause of low agricultural productivity is the low use of intermediate inputs, such as fertilizers, in developing countries. This paper argues that farmers in poor countries rationally choose to use fewer intermediate inputs because it limits their exposure to large uninsu...

The mammalian cerebral cortex is characterized by intense spontaneous activity, depending on brain region, age, and behavioral state. Classically, the cortex is considered as being driven by the senses, a paradigm which corresponds well to experiments in quiescent or deeply anesthetized states. In awake animals, however, the spontaneous activity cannot be considered as 'background noise', but i...

In the setting of secure multiparty computation, a set of n parties with private inputs wish to jointly compute some functionality of their inputs. One of the most fundamental results of informationtheoretically secure computation was presented by Ben-Or, Goldwasser and Wigderson (BGW) in 1988. They demonstrated that any n-party functionality can be computed with perfect security, in the privat...