Recently, there has been an increase in the usage of centrally managed markets which are run by some form of pari-mutuel mechanism. A parimutuel mechanism is characterized by the ability to shield the market organizer from financial risk by paying the winners from the stakes of the losers. The recent introduction of new, modified pari-mutuel methods has spurred the growth of prediction markets ...

The aim of this paper is to construct pairing friendly elliptic curves. In this paper, we explain a method of finding the polynomials representing √−D and ζk over the field containing √−D and ζk and how to construct a pairing friendly elliptic curves over the cyclotomic fields containing Q(ζk, √−D) for arbitrary k and D by CP method. By using the factorization of the cyclotomic polynomial combi...

We present a model in which two of the most important features of the long-run growth process are reconciled: the massive changes in the structure of production and employment; and the Kaldor facts of economic growth. We assume that households expand their consumption along a hierarchy of needs and firms introduce continuously new products. In equilibrium industries with an expanding and those ...

background: some evidence has shown benefits of probiotics in the management of minimal hepatic encephalopathy (mhe). we evaluated the efficacy of a multistrain probiotic compound, alone and in combination with lactulose, in the treatment of mhe. materials and methods: h   is study has two parts. first, consecutive adult patients with mhe were randomized to receive lactulose (30–60 ml/day) + pr...

The quantum modular invariant jqt(θ) of θ ∈R is defined as a discontinuous PGL2(Z)-invariant multi-valued map using the distance-to-the-nearest-integer function ‖ · ‖. For θ ∈Q it is shown that jqt(θ) =∞ and for quadratic irrationalities PARI/GP experiments suggest that jqt(θ) is a finite set. In the case of the golden mean φ, we produce explicit formulas involving weighted versions of the Roge...

We use a new dataset of hedge fund returns from a separate account platform to examine (1) how much of hedge fund return smoothing is due to main-fund specific factors, such as managerial reporting discretion (2) the costs of removing hedge fund share restrictions. These accounts trade pari passu with matching hedge funds but feature third-party reporting and permissive share restrictions. We u...