We investigate the effect of reaction-time delay of drivers upon traffic flow analytically and numerically. We extend the optimal velocity difference model by taking reaction-time delay of drivers into account. The stability condition is obtained. The Burgers, Korteweg–de Vries (KdV) and...

We study pre-trade transparency by looking at the introduction of NYSE's OpenBook service that provides limit order book information to traders off the exchange floor. We find that traders attempt to manage limit order exposure: they submit smaller orders and cancel orders faster. Specialists'...

We study pre-trade transparency by looking at the introduction of NYSE's OpenBook service that provides limit order book information to traders off the exchange floor. We find that traders attempt to manage limit order exposure: They submit smaller orders and cancel orders faster. Specialists'...

This paper investigates an important feature of market design: pre-trade transparency, defined as the availability of information about pending trading interest in the market. We look at how the NYSE s introduction of OpenBook, which enables traders off the exchange floor to observe depth in the...

Having emerged in the middle of the 20th century, the information and communication technology (ICT) industry has sprung up during the past 20 years. China plays a significant role within the ICT segment in that it has become a major supplier and a fast growing market in the world. This paper,...

A genome-wide association study (GWAS) of educational attainment was conducted in a discovery sample of 101,069 individuals and a replication sample of 25,490. Three independent single-nucleotide polymorphisms (SNPs) are genome-wide significant (rs9320913, rs11584700, rs4851266), and all three...

The brief’s key findings are: *With the shift from traditional pensions to 401(k) plans, the welfare of retirees depends increasingly on their ability to make sound financial decisions. *Using a dataset that follows a group of older individuals in the Chicago area, the analysis examines how...

Background: Emerging data from younger and middle-aged persons suggest that cognitive ability is negatively associated with risk aversion, but this association has not been studied among older persons who are at high risk of experiencing loss of cognitive function. Methods: Using data from 369...

Financial fraud is a major threat to older Americans, and this problem is expected to grow as the baby boom generation retires and more retirees manage their own retirement accounts. We use a unique dataset to examine the causes and consequences of financial fraud among older Americans. First,...

Background: The objective of this study was to test the hypothesis that cognitive function is negatively associated with temporal discounting in old age. Methods Participants were 388 community-dwelling older persons without dementia from the Rush Memory and Aging Project, an ongoing...