Mountain ants of Nevada

The nest of the ant Formica propinqua W. M. Wheeler is reported from Washoe Co., Nevada.     

Nest of Formica propinqua (Hymenoptera: Formicidae)

The nest of the ant Formica propinqua W. M. Wheeler is reported from Washoe Co., Nevada.     

The New Mexico whiptail, Cnemidophorus neomexicanus (Squamata: Teiidae), in the Great Basin of north central Utah

We report the discovery of established populations of Cnemidophorus neomexicanus in the Salt Lake City area. These are the 1st records of this species in Utah and in the Great Basin and are far from all other known populations of the species. We conclude that C. neomexicanus was introduced in the Salt Lake City area, perhaps within the last 30 years.     

How efficient is the European football betting market? Evidence from arbitrage and trading strategies

This paper assesses the international efficiency of the European football betting market by examining the forecastability of match outcomes on the basis of the information contained in different sets of online and fixed odds quoted by six major bookmakers. The paper also investigates the profitability of strategies based on: combined betting, simple heuristic rules, regression models and prediction encompassing. The empirical results show that combined betting across different bookmakers can lead to limited but highly profitable arbitrage opportunities. Simple trading rules and betting strategies based on forecast encompassing are found capable of also producing significant positive returns. Despite the deregulation, globalization and increased competition in the betting industry over recent years, the predictabilities and profits reported in this paper are not fully consistent with weak-form market efficiency. Copyright © 2008 John Wiley & Sons, Ltd.     

Forecasting euro area inflation using dynamic factor measures of underlying inflation

Standard measures of prices are often contaminated by transitory shocks. This has prompted economists to suggest the use of measures of underlying inflation to formulate monetary policy and assist in forecasting observed inflation. Recent work has concentrated on modelling large data sets using factor models. In this paper we estimate factors from data sets of disaggregated price indices for European countries. We then assess the forecasting ability of these factor estimates against other measures of underlying inflation built from more traditional methods. The power to forecast headline inflation over horizons of 12 to 18 months is adopted as a valid criterion to assess forecasting. Empirical results for the five largest euro area countries, as well as for the euro area itself, are presented. Copyright © 2005 John Wiley & Sons, Ltd.     

The long run,causality, and forecasting in the advertising-sales relationship

Co-integration analysis is used in a study of the advertising and sales relationship using the Lydia Pinkham data set. The series are shown to have a valid long-run relationship while Granger-causality runs in both directions. The latter is found by using a causality test involving the co-integration restrictions which seem to constitute a crucial part of such tests in the case of co-integrated variables. A comparison with previous models shows that forecasting co-integrated series is more accurate with error-correction systems, especially in the case of multi-step forecasting.     

Control of Ca2+ in rod outer segment disks by light and cyclic GMP

Photons absorbed in vertebrate rods and cones probably cause electrochemical changes at the photoreceptor plasma membrane by changing the cytoplasmic concentration of a diffusible transmitter substance, reducing the Na+ current flowing into the outer segment of the cell in the dark, to produce the observed membrane hyperpolarization that is the initial excitatory response. Cyclic GMP has been proposed as the transmitter because a light-activated cyclic GMP phosphodiesterase (PDE) has been found in rod disk membranes and because intracellularly injected cyclic GMP reduces rod membrane potentials. Free Ca2+ has also been proposed because increasing external [Ca2+] quickly and reversibly reduces the dark current and divalent cationophores increase the Ca2+ sensitivity. Ca2+ efflux from rod outer segments (ROS) of intact retinas occurs simultaneously with light responses. Vesicles prepared from ROS disk membranes become more permeable on illumination, releasing trapped ions or molecules, but intact outer segment disks have not previously been found to store sufficient Ca2+ in darkness and to release enough in light to meet the theoretical requirements for control of the dark current by varying cytoplasmic Ca2+ (refs 14-18). We now report experiments that show the required Ca2+ storage and release from rod disk membranes suspended in media containing high-energy phosphate esters and electrolytes approximating the cytoplasmic composition of live rod cells. Cyclic GMP stimulates Ca2+ uptake by ROS disks in such media.