Model-free portfolio theory: A rough path approach.

Based on a rough path foundation, we develop a model-free approach to stochastic portfolio theory (SPT). Our approach allows to handle significantly more general portfolios compared to previous model-free approaches based on Föllmer integration. Without the assumption of any underlying probabilistic model, we prove a pathwise formula for the relative wealth process, which reduces in the special case of functionally generated portfolios to a pathwise version of the so-called master formula of classical SPT.

Neurological Disorders in Takotsubo Syndrome: Clinical Phenotypes and Outcomes.

Background: Neurological disorders as a risk factor for Takotsubo syndrome (TTS) are not well characterized. The aim of the study was to evaluate TTS-associated neurological phenotypes and outcome.

Methods And Results: Patients with TTS enrolled in the international multicenter GEIST (German Italian Spanish Takotsubo) registry were analyzed.

Age-Related Differences in Takotsubo Syndrome: Results From the Multicenter GEIST Registry.

Background: The role of age in the short- and long-term prognosis of takotsubo syndrome (TTS) is controversial. The aim of the present study was to evaluate age-related differences and prognostic implications among patients with TTS.

Methods And Results: In total, 2492 consecutive patients with TTS enrolled in an international registry were stratified into 4 groups (<45, 45-64, 65-74, and ≥75 years).

Sources of PM-Associated Health Risks in Europe and Corresponding Emission-Induced Changes During 2005-2015.

We present a newly developed approach to characterize the sources of fine particulate matter (PM)-related premature deaths in Europe using the chemical transport model GEOS-Chem and its adjoint. The contributions of emissions from each individual country, species, and sector are quantified and mapped out at km scale. In 2015, total PM-related premature death is estimated to be 449,813 (257,846-722,138) in Europe, 59.

[Modern views of fever management - about the FeverFriendTM program].

Introduction: A wealth of physiological, pathophysiological and clinical evidence of the beneficial effects of childhood fever exists already. Nevertheless, the public perception of fever has become persistently negative. Sociological research attributes this to a number of factors: unjustified fear, help-seeking behaviour, complex behavioural patterns of symptom avoidance and comfort-seeking.

A new experiment on the use of images to answer web survey questions.

Images might provide richer and more objective information than text answers to open-ended survey questions. Little is known, nonetheless, about the consequences for data quality of asking participants to answer open-ended questions with images. Therefore, this paper addresses three research questions: (1) What is the effect of answering web survey questions with images instead of text on breakoff, noncompliance with the task, completion time and question evaluation? (2) What is the effect of including a motivational message on these four aspects? (3) Does the impact of asking to answer with images instead of text vary across device types? To answer these questions, we implemented a 2 × 3 between-subject web survey experiment ( = 3043) in Germany.

Welfare state support during the COVID-19 pandemic: Change and continuity in public attitudes towards social policies in Germany.

Our analysis asks whether the pandemic situation affects welfare state support in Germany. The pandemic has increased the health and income risks calling for welfare state intervention. While increased needs, more deservingness, and higher state responsibility during such a crisis would suggest augmented support generally and among those at risk, this might be a short-term effect and cost considerations could reverse this trend.

Aspirin Therapy on Prophylactic Anticoagulation for Patients Hospitalized With COVID-19: A Propensity Score-Matched Cohort Analysis of the HOPE-COVID-19 Registry.

Background COVID-19 is an infectious illness, featured by an increased risk of thromboembolism. However, no standard antithrombotic therapy is currently recommended for patients hospitalized with COVID-19. The aim of this study was to evaluate safety and efficacy of additional therapy with aspirin over prophylactic anticoagulation (PAC) in patients hospitalized with COVID-19 and its impact on survival.

Buyers' role in innovation procurement: Evidence from US military R&D contracts.

This study provides the first quantification of buyers' role in the outcome of R&D procurement contracts. We combine together four data sources on US federal R&D contracts, follow-on patented inventions, federal public workforce characteristics, and perception of their work environment. By exploiting the observability of deaths of federal employees, we find that managers' death events negatively affect innovation outcomes: a 1% increase in the share of relevant public officer deaths causes a decline of 32.

The evolution of European economic institutions during the COVID-19 crisis.

This article argues that the incomplete economic and institutional integration of the euro area has exposed the monetary union to increasing economic divergence, which could be deepened by the COVID-19 crisis. We discuss how monetary and fiscal measures implemented at the onset of the pandemic have contributed to mitigate the economic consequences of lockdowns, but provided limited insurance to narrow economic gaps across member countries. However, EU countries agreed on July 21, 2020 to develop, for the first time, countercyclical fiscal transfers financed by common debt issuance.

Structure and Relationships of University Instructors' Achievement Goals.

The present study examines the achievement goals of university instructors, particularly the structure of such goals, and their relationship to biographic characteristics, other aspects of instructors' motivation, and teaching quality. Two hundred and fifty-one university instructors (184 without Ph.D.

Representation of Patients' Hand Modulates Fear Reactions of Patients with Spider Phobia in Virtual Reality.

Embodiment (i.e., the involvement of a bodily representation) is thought to be relevant in emotional experiences.

Dying the right-way? Interest in and perceived persuasiveness of parochial extremist propaganda increases after mortality salience.

Research on parochial altruism demonstrated that hostility toward out-groups (parochialism) represents the dark side of the willingness to benefit one's in-group even at own costs (altruism). Parochial aggression thereby emerged mainly under conditions of threat. Extremist propaganda videos, for instance by right-wing extremists, try to capitalize on parochial altruistic mechanism by telling recipients sharing their national identity that this nation is under threat wherefore they for have to join the extremist's cause to prevent the extinction of their nation.

The impact of perception and presence on emotional reactions: a review of research in virtual reality.

Virtual reality (VR) has made its way into mainstream psychological research in the last two decades. This technology, with its unique ability to simulate complex, real situations and contexts, offers researchers unprecedented opportunities to investigate human behavior in well controlled designs in the laboratory. One important application of VR is the investigation of pathological processes in mental disorders, especially anxiety disorders.

Emotional pictures and sounds: a review of multimodal interactions of emotion cues in multiple domains.

In everyday life, multiple sensory channels jointly trigger emotional experiences and one channel may alter processing in another channel. For example, seeing an emotional facial expression and hearing the voice's emotional tone will jointly create the emotional experience. This example, where auditory and visual input is related to social communication, has gained considerable attention by researchers.

Mutual influences of pain and emotional face processing.

The perception of unpleasant stimuli enhances whereas the perception of pleasant stimuli decreases pain perception. In contrast, the effects of pain on the processing of emotional stimuli are much less known. Especially given the recent interest in facial expressions of pain as a special category of emotional stimuli, a main topic in this research line is the mutual influence of pain and facial expression processing.

Avoidant decision making in social anxiety: the interaction of angry faces and emotional responses.

Recent research indicates that angry facial expressions are preferentially processed and may facilitate automatic avoidance response, especially in socially anxious individuals. However, few studies have examined whether this bias also expresses itself in more complex cognitive processes and behavior such as decision making. We recently introduced a variation of the Iowa Gambling Task which allowed us to document the influence of task-irrelevant emotional cues on rational decision making.

Social and emotional relevance in face processing: happy faces of future interaction partners enhance the late positive potential.

Human face perception is modulated by both emotional valence and social relevance, but their interaction has rarely been examined. Event-related brain potentials (ERP) to happy, neutral, and angry facial expressions with different degrees of social relevance were recorded. To implement a social anticipation task, relevance was manipulated by presenting faces of two specific actors as future interaction partners (socially relevant), whereas two other face actors remained non-relevant.

Delay and trace fear conditioning in a complex virtual learning environment-neural substrates of extinction.

Extinction is an important mechanism to inhibit initially acquired fear responses. There is growing evidence that the ventromedial prefrontal cortex (vmPFC) inhibits the amygdala and therefore plays an important role in the extinction of delay fear conditioning. To our knowledge, there is no evidence on the role of the prefrontal cortex in the extinction of trace conditioning up to now.

Emotional sounds modulate early neural processing of emotional pictures.

In our natural environment, emotional information is conveyed by converging visual and auditory information; multimodal integration is of utmost importance. In the laboratory, however, emotion researchers have mostly focused on the examination of unimodal stimuli. Few existing studies on multimodal emotion processing have focused on human communication such as the integration of facial and vocal expressions.

Spatiotemporal integration in somatosensory perception: effects of sensory saltation on pointing at perceived positions on the body surface.

In the past, sensory saltation phenomena (Geldard and Sherrick, 1972) have been used repeatedly to analyze the spatiotemporal integration capacity of somatosensory and other sensory mechanisms by means of their psychophysical characteristic. The core phenomenon consists in a systematic mislocalization of one tactile stimulus (the attractee) toward another successive tactile stimulus (the attractant) presented at another location, increasing with shorter intervals. In a series of four experiments, sensory saltation characteristics were studied at the forearm and the abdomen.