Auditory and visual interhemispheric communication in musicians and non-musicians.

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Rebecca Woelfle

Full Text Available The corpus callosum (CC is a brain structure composed of axon fibres linking the right and left hemispheres. Musical training is associated with larger midsagittal cross-sectional area of the CC, suggesting that interhemispheric communication may be faster in musicians. Here we compared interhemispheric transmission times (ITTs for musicians and non-musicians. ITT was measured by comparing simple reaction times to stimuli presented to the same hemisphere that controlled a button-press response (uncrossed reaction time, or to the contralateral hemisphere (crossed reaction time. Both visual and auditory stimuli were tested. We predicted that the crossed-uncrossed difference (CUD for musicians would be smaller than for non-musicians as a result of faster interhemispheric transfer times. We did not expect a difference in CUDs between the visual and auditory modalities for either musicians or non-musicians, as previous work indicates that interhemispheric transfer may happen through the genu of the CC, which contains motor fibres rather than sensory fibres. There were no significant differences in CUDs between musicians and non-musicians. However, auditory CUDs were significantly smaller than visual CUDs. Although this auditory-visual difference was larger in musicians than non-musicians, the interaction between modality and musical training was not significant. Therefore, although musical training does not significantly affect ITT, the crossing of auditory information between hemispheres appears to be faster than visual information, perhaps because subcortical pathways play a greater role for auditory interhemispheric transfer.

Auditory and visual interhemispheric communication in musicians and non-musicians.

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Woelfle, Rebecca; Grahn, Jessica A

2013-01-01

The corpus callosum (CC) is a brain structure composed of axon fibres linking the right and left hemispheres. Musical training is associated with larger midsagittal cross-sectional area of the CC, suggesting that interhemispheric communication may be faster in musicians. Here we compared interhemispheric transmission times (ITTs) for musicians and non-musicians. ITT was measured by comparing simple reaction times to stimuli presented to the same hemisphere that controlled a button-press response (uncrossed reaction time), or to the contralateral hemisphere (crossed reaction time). Both visual and auditory stimuli were tested. We predicted that the crossed-uncrossed difference (CUD) for musicians would be smaller than for non-musicians as a result of faster interhemispheric transfer times. We did not expect a difference in CUDs between the visual and auditory modalities for either musicians or non-musicians, as previous work indicates that interhemispheric transfer may happen through the genu of the CC, which contains motor fibres rather than sensory fibres. There were no significant differences in CUDs between musicians and non-musicians. However, auditory CUDs were significantly smaller than visual CUDs. Although this auditory-visual difference was larger in musicians than non-musicians, the interaction between modality and musical training was not significant. Therefore, although musical training does not significantly affect ITT, the crossing of auditory information between hemispheres appears to be faster than visual information, perhaps because subcortical pathways play a greater role for auditory interhemispheric transfer.

Injection Pharyngoplasty With Autologous Fat as Treatment for Stress Velopharyngeal Insufficiency in Brass and Woodwind Musicians.

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Syamal, Mausumi N; Bryson, Paul C

2017-02-01

Stress velopharyngeal insufficiency (SVPI) is an uncommon but often career-threatening condition affecting professional brass and woodwind musicians. To review the evaluation of and treatment for SVPI in professional musicians with lipoinjection to the posterior pharyngeal wall. A retrospective medical record and literature review. Two professional musicians with SVPI treated with autologous lipoinjection to the posterior pharyngeal wall were included. Nasopharyngoscopy was performed while patients played their instrument both before and after injection. To assess the effectiveness of autologous fat injection to the posterior pharyngeal wall to treat stress velopharyngeal insufficiency in 2 professional instrumentalists. Successful treatment was the absence of VPI during playing as visualized by flexible nasopharyngoscopy. After autologous lipoinjection of the posterior pharyngeal wall, 1 patient resumed full play with complete resolution, now 3 years after lipoinjection pharyngoplasty. The other patient received temporary resolution. Both had no surgical complications. Stress VPI is often a career-threatening condition for professional brass and woodwind musicians, with a cited incidence of 34%. Various treatment options in the literature include observation, speech and language pathology referral for pharyngeal strengthening, lipoinjection of the soft palate, and more invasive options, such as sphincter pharyngoplasty, pharyngeal flaps and V-Y pushback. Autologous fat injection pharyngoplasty of the posterior pharyngeal wall may be a less invasive treatment option for musicians with SVPI.

Towards an Active Hearing Protection Device for Musicians =

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Bernier, Antoine

Professional musicians are oftentimes exposed to high levels of sound. Prolonged or severe exposure to high sound levels could lead to permanent hearing loss and compromise their career. The logical solution would be to wear hearing protection devices (HPDs) when appropriate. However, perceptual discomfort associated with wearing HPD can discourage their use by musicians. The perceptual discomfort is caused by two detrimental effects: the occlusion effect and the isolation effect. The occlusion effect is often reported as an augmented, unnatural and annoying perception of one's own voice or instrument mechanically coupled to the head when wearing HPDs. The isolation effect is the unnatural sensation of being isolated from a given sound environment and can be caused by wearing HPDs that do not compensate for psychoacoustical factors and therefore alter the wearer's auditory perception. Both effects are highly unfavorable to the musicians' auditory perception and compromise their capacity to perform to the best of their abilities for their audience. They are among the reasons most often reported by musicians to decide not to wear HPDs. This master's project presents the concept and first prototype of an active HPD for musicians that aims at solving the detrimental effects while protecting the musician's hearing. A solution for the occlusion effect is presented in the form of an earplug complemented with in-ear active noise control. Practical design issues and required trade-off are analyzed through a literature review and the implementation and characterization of an active occlusion effect reduction system, allowing reduction of the occlusion effect between 8.5 and 12 dB at 250 Hz. A solution for the isolation effect is presented in the form of an earplug complemented with digital signal processing capabilities. Factors that may cause the isolation effect are identified through a literature review and corresponding algorithms that aim at re-establishing the

Visual memory in musicians and non-musicians.

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Rodrigues, Ana Carolina; Loureiro, Maurício; Caramelli, Paulo

2014-01-01

Many investigations have reported structural, functional, and cognitive changes in the brains of musicians, which occur as a result of many years of musical practice. We aimed to investigate if intensive, long-term musical practice is associated with improved visual memory ability. Musicians and non-musicians, who were comparable in age, gender, and education, were submitted to a visual memory test. The test consisted of the presentation of four sets of stimuli, each one containing eight figures to be memorized. Each set was followed by individual figures and the subject was required to indicate if each figure was or was not present in the memorized set, by pressing the corresponding keys. We divided the test in two parts, in which the stimuli had greater or reduced semantic coding. Overall, musicians showed better performance on reaction times, but not on accuracy. An additional analysis revealed no significant interaction between group and any part of the test in the prediction of the outcomes. When simple reaction time was included as covariate, no significant difference between groups was found on reaction times. In the group of musicians, we found some significant correlations between variables related to musical practice and performance in the visual memory test. In summary, our data provide no evidence of enhanced visual memory ability in musicians, since there was no difference in accuracy between groups. Our results suggest that performance of musicians in the visual memory test may be associated with better sensorimotor integration, since although they have presented shorter reaction times, such effect disappeared when taken in consideration the simple reaction time test. However, given existing evidence of associations between simple reaction time and cognitive function, their performance in the visual memory test could also be related to enhanced visual attention ability, as has been suggested by previous studies, but this hypothesis deserves more

Pop-rock musicians: assessment of their satisfaction provided by hearing protectors.

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Santoni, Cristiane Bolzachini; Fiorini, Ana Claudia

2010-01-01

Pop-rock musicians are at risk of developing hearing loss and other symptoms related to amplified music. The aim of the present study was to assess the satisfaction provided by the use of hearing protection in pop-rock musicians. Contemporary cohort study. A study of 23 male pop-rock musicians, aged between 25 to 45 years. After audiological evaluation (pure tone audiometry, middle ear analysis, TEOAE and DPOAE) hearing protective devices were provided to be used for three months. After that musicians answered a satisfaction assessment questionnaire. The prevalence of hearing loss was of 21.7%. The most common complaints about the hearing protectors were: autophonia, pressure in the ears, interference in high frequencies perception and full time use of the hearing protector during concerts. There was a positive correlation between a reduction in tinnitus after the use of the HPD with the following complaints: tinnitus after beginning the career (p= 0.044), discomfort with the sound intensity in the work place (p= 0.009) and intolerance to loud sound (p= 0.029). There was a high prevalence of hearing loss and a positive tendency towards the use of the ear protector device among the sample population.

Cortical pitch representations of complex tones in musicians and non-musicians

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Bianchi, Federica; Hjortkjær, Jens; Santurette, Sébastien

Musicians typically show enhanced pitch-discrimination ability compared to non-musicians, consistent with the fact that musicians are more sensitive to some acoustic features critical for both speech and music processing. However, it is still unclear which mechanisms underlie this perceptual...... enhancement. In a previous behavioral study, musicians showed an increased pitch-discrimination performance for both resolved and unresolved complex tones suggesting an enhanced neural representation of pitch at central stages of the auditory system. The aim of this study was to clarify whether musicians show...... (i) differential neural activation in response to complex tones as compared to non-musicians and/or (ii) finer fundamental frequency (F0) representation in the auditory cortex. Assuming that the right auditory cortex is specialized in processing fine spectral changes, we hypothesized that an enhanced...

The cognitive functioning of older adult instrumental musicians and non-musicians.

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Strong, Jessica V; Mast, Benjamin T

2018-03-08

This study examined similarities and differences in the cognitive profiles of older adult instrumental musicians and non-musicians. We compared neuropsychological test scores among older adult non-musicians, low-activity musicians (memory. The current study supports late life cognitive benefits of early musical training, but only in select cognitive domains, including language, executive functioning, and visual spatial ability. The results are discussed in the context of cognitive reserve and aging.

Yoga reduces performance anxiety in adolescent musicians.

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Khalsa, Sat Bir S; Butzer, Bethany; Shorter, Stephanie M; Reinhardt, Kristen M; Cope, Stephen

2013-01-01

Professional musicians often experience high levels of stress, music performance anxiety (MPA), and performance-related musculoskeletal disorders (PRMDs). Given the fact that most professional musicians begin their musical training before the age of 12, it is important to identify interventions that will address these issues from an early age. This study intended to replicate and expand upon adult research in this area by evaluating the effects of a yoga intervention on MPA and PRMDs in a population of adolescent musicians. The present study was the first to examine these effects. The research team assigned participants, adolescent musicians, into two groups. The intervention group (n = 84) took part in a 6-wk yoga program, and the control group (n = 51) received no treatment. The team evaluated the effects of the yoga intervention by comparing the scores of the intervention group to those of the control group on a number of questionnaires related to MPA and PRMDs. The study was conducted at the Boston University Tanglewood Institute (BUTI). BUTI is a training academy for advanced adolescent musicians, located in Lenox, Massachusetts. Participants were adolescent, residential music students (mean age = 16 y) in a 6-wk summer program at the BUTI in 2007 and 2008. Participants in the yoga intervention group were requested to attend three, 60-min, Kripalustyle yoga classes each wk for 6 wk. MPA was measured using the Performance Anxiety Questionnaire (PAQ) and the Music Performance Anxiety Inventory for Adolescents (MPAI-A). PRMDs were measured using the Performance-Related Musculoskeletal Disorders Questionnaire (PRMD-Q). RESULTS • Yoga participants showed statistically significant reductions in MPA from baseline to the end of the program compared to the control group, as measured by several subscales of the PAQ and MPAI-A; however, the results for PRMDs were inconsistent. The findings suggest that yoga may be a promising way for adolescents to reduce MPA and

Personality Influences Career Choice: Sensation Seeking in Professional Musicians

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Vuust, Peter; Gebauer, Line; Hansen, Niels Chr.; Jorgensen, Stine Ramsgaard; Moller, Arne; Linnet, Jakob

2010-01-01

Despite the obvious importance of deciding which career to pursue, little is known about the influence of personality on career choice. Here we investigated the relation between sensation seeking, a supposedly innate personality trait, and career choice in classical and "rhythmic" students at the academies of music in Denmark. We…

Cortical inhibition effect in musicians and non-musicians using P300 with and without contralateral stimulation

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Camila Maia Rabelo

2015-02-01

Full Text Available Introduction: Musicians have more robust and efficient neural responses in the cortical and sub-cortical regions, demonstrating that musical experience benefits the processing of both non-linguistic and linguistic stimuli. Objective: This study aimed to verify P300's latency and amplitude behavioral using contralateral stimulation in musicians and non-musicians. Methods: This was a case-control study. Subjects were divided in two groups: musicians, comprising 30 professional musicians, and non-musicians, comprising 25 subjects without musical experience. Results: The present study showed that the musicians had lower latencies and higher amplitudes than the non-musicians in the P300 without contralateral noise. For the P300 amplitude values, the difference between groups persisted, and the musicians presented significantly higher amplitude values compared with the non-musicians; additionally, the analysis of the noise effect on the P300 response showed that the latency values were significantly increased in the musicians. Conclusion: The central auditory nervous system of musicians presents peculiar characteristics of electrophysiological responses probably due to the plasticity imposed by musical practice.

A Gendered Study of the Working Patterns of Classical Musicians: Implications for Practice

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Bennett, Dawn

2008-01-01

Despite an increase in participation at all levels of the music profession, women continue to experience fewer opportunities to forge careers in music and are less likely than men to apply for leadership positions. This article presents results from a study in which 152 instrumental musicians reflected upon their professional practice and career…

Cortical inhibition effect in musicians and non-musicians using P300 with and without contralateral stimulation.

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Rabelo, Camila Maia; Neves-Lobo, Ivone Ferreira; Rocha-Muniz, Caroline Nunes; Ubiali, Thalita; Schochat, Eliane

2015-01-01

Musicians have more robust and efficient neural responses in the cortical and sub-cortical regions, demonstrating that musical experience benefits the processing of both non-linguistic and linguistic stimuli. This study aimed to verify P300's latency and amplitude behavioral using contralateral stimulation in musicians and non-musicians. This was a case-control study. Subjects were divided in two groups: musicians, comprising 30 professional musicians, and non-musicians, comprising 25 subjects without musical experience. The present study showed that the musicians had lower latencies and higher amplitudes than the non-musicians in the P300 without contralateral noise. For the P300 amplitude values, the difference between groups persisted, and the musicians presented significantly higher amplitude values compared with the non-musicians; additionally, the analysis of the noise effect on the P300 response showed that the latency values were significantly increased in the musicians. The central auditory nervous system of musicians presents peculiar characteristics of electrophysiological responses probably due to the plasticity imposed by musical practice. Copyright © 2014 Associação Brasileira de Otorrinolaringologia e Cirurgia Cérvico-Facial. Published by Elsevier Editora Ltda. All rights reserved.

Pain among professional orchestral musicians

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Nygaard Andersen, Lotte; Roessler, Kirsten K; Eichberg, Henning

2013-01-01

Professional musicians experience high rates of musculoskeletal pain, but only few studies have investigated how this pain is accepted by musicians.......Professional musicians experience high rates of musculoskeletal pain, but only few studies have investigated how this pain is accepted by musicians....

Contradictions in Portfolio Careers: Work Design and Client Relations

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Fenwick, Tara J.

2006-01-01

Purpose: The paper aims to explore "Portfolio work", an emerging form of flexible self-employment, which has been identified as significant but under-researched. This paper also seeks to explore the challenges and benefits of portfolio work from the perspective of individuals' experiences. Design/methodology/approach: The argument draws from a…

The enigma of dyslexic musicians.

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Weiss, Atalia H; Granot, Roni Y; Ahissar, Merav

2014-02-01

Musicians are known to have exceptional sensitivity to sounds, whereas poor phonological representations (or access to these representations) are considered a main characteristic of dyslexic individuals. Though these two characteristics refer to different abilities that are related to non-verbal and verbal skills respectively, the recent literature suggests that they are tightly related. However, there are informal reports of dyslexic musicians. To better understand this enigma, two groups of musicians were recruited, with and without a history of reading difficulties. The pattern of reading difficulties found among musicians was similar to that reported for non-musician dyslexics, though its magnitude was less severe. In contrast to non-musician dyslexics, their performance in pitch and interval discrimination, synchronous tapping and speech perception tasks, did not differ from the performance of their musician peers, and was superior to that of the general population. However, the auditory working memory scores of dyslexic musicians were consistently poor, including memory for rhythm, melody and speech sounds. Moreover, these abilities were inter-correlated, and highly correlated with their reading accuracy. These results point to a discrepancy between their perceptual and working memory skills rather than between sensitivity to speech and non-speech sounds. The results further suggest that in spite of intensive musical training, auditory working memory remains a bottleneck to the reading accuracy of dyslexic musicians. Copyright © 2013 Elsevier Ltd. All rights reserved.

Student evaluations of the portfolio process.

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Murphy, John E; Airey, Tatum C; Bisso, Andrea M; Slack, Marion K

2011-09-10

To evaluate pharmacy students' perceived benefits of the portfolio process and to gather suggestions for improving the process. A questionnaire was designed and administered to 250 first-, second-, and third-year pharmacy students at the University of Arizona College of Pharmacy. Although the objectives of the portfolio process were for students to understand the expected outcomes, understand the impact of extracurricular activities on attaining competencies, identify what should be learned, identify their strengths and weaknesses, and modify their approach to learning, overall students perceived the portfolio process as having less than moderate benefit. First-year students wanted more examples of portfolios while second- and third-year students suggested that more time with their advisor would be beneficial. The portfolio process will continue to be refined and efforts made to improve students' perceptions of the process as it is intended to develop the self-assessments skills they will need to improve their knowledge and professional skills throughout their pharmacy careers.

Teaching ePortfolios in Teacher Education

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Peter Groißböck

2012-11-01

Full Text Available Especially when starting their career in the induction phase, young teachers need personal, profession-related and social support. Young teachers can get personal support with a mentoring system, profession-related support in seminars and social support with peer-learning. E-portfolios offer ways to accompany those learning processes and are a central tool for the documentation of individual student progress in the induction phase of teachers. In this article a concept of teaching e-portfolios for the induction phase is presented, showing a basic structure, essential conditions and possible risks. Additionally this article also includes practical thoughts to the use of e-portfolios in basic teacher education and further teacher training.

Future Learning Strategy and ePortfolios in Education

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C. Dorninger

2008-03-01

Full Text Available The rapid change of the information andknowledge Society does no stop at education:communication, teaching and learning are changing due todigital media. Therefore at Austrian schools a “FutureLearning”- strategy was started in October 2007, where newforms of learning are underlined by new media and socialsoftware. This strategy will be presented. An important partof the strategy is the introduction of electronic Portfolios forstudents. Portfolios could be powerful tools to realizeindividualisation in formal education. There are two maintypes, the process portfolio for learning, working andreflection and the application portfolio for assessmentpurposes and job application. It is now possible to collectformal and informal competences and skills-orientedknowledge for the later professional career.

Twelve tips for creating an academic teaching portfolio.

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Little-Wienert, Kim; Mazziotti, Mark

2018-01-01

An academic teaching portfolio is not only a requirement at many academic teaching institutions, but it is also important in a medical educator's growth and development through documentation, reflection, evaluation, and change. Creating an academic portfolio may appear daunting at first but with careful advanced preparation, organized evidence collection of your educational work, proof of scholarship, and thorough documentation of self-reflection and change, you can produce a successful product that accurately represents your educational beliefs, accomplishments, and growth throughout your career. This article provides medical educators with twelve steps for creating a successful academic teaching portfolio.

Is the audiologic status of professional musicians a reflection of the noise exposure in classical orchestral music?

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Emmerich, Edeltraut; Rudel, Lars; Richter, Frank

2008-07-01

The sound in classical orchestral music is louder than noise emissions allowed by national rules in industry. We wanted to assess the audiologic status of professional musicians at different ages of their careers and to look for a coherence of declined hearing ability and the sound emissions in order to substantiate advices for hearing protection and occupational medicine in musicians. Data from questionnaires (anamnestic data on sound exposure in profession and leisure times, use of hearing protection, self-evaluation of hearing function and hearing deficits), audiometric data and amplitudes of OAE were evaluated from 109 professional musicians aged 30-69 years from three major German orchestras and from 110 students of an academy of music (aged 11-19 years). Sound emissions of the whole orchestra and of single instruments/instrument groups were measured at the orchestra stages and pits during rehearsals and performances. None of the musicians was engaged in noisy hobbies and only a few used hearing protectors regularly. More than 50% of the musicians had a hearing loss of 15 dB(A) and more. Highest losses were found among the strings and the brass players. DPOAE amplitudes coincidently declined with the duration of performing music in the orchestras. Professional musicians aged older than 60 years had a significantly greater hearing loss at 4 and 6 kHz than those aged 30-39 years. Among the strings in one orchestra a dominant hearing deficit in the left ears was observed. Musicians need the same health care for their hearing as workers in noisy industry. A better education on the hearing hazards (use of hearing protectors) as well as sound protection in the rehearsal rooms is necessary. Hearing loss in professional musicians should be accepted as an occupational disease.

Sound Exposure of Symphony Orchestra Musicians

DEFF Research Database (Denmark)

Schmidt, Jesper Hvass; Pedersen, Ellen Raben; Juhl, Peter Møller

2011-01-01

dBA and their left ear was exposed 4.6 dB more than the right ear. Percussionists were exposed to high sound peaks >115 dBC but less continuous sound exposure was observed in this group. Musicians were exposed up to LAeq8h of 92 dB and a majority of musicians were exposed to sound levels exceeding......Background: Assessment of sound exposure by noise dosimetry can be challenging especially when measuring the exposure of classical orchestra musicians where sound originate from many different instruments. A new measurement method of bilateral sound exposure of classical musicians was developed...... and used to characterize sound exposure of the left and right ear simultaneously in two different symphony orchestras.Objectives: To measure binaural sound exposure of professional classical musicians and to identify possible exposure risk factors of specific musicians.Methods: Sound exposure was measured...

Transient evoked otoacoustic emissions in rock musicians.

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Høydal, Erik Harry; Lein Størmer, Carl Christian; Laukli, Einar; Stenklev, Niels Christian

2017-09-01

Our focus in this study was the assessment of transient evoked otoacoustic emissions (TEOAEs) in a large group of rock musicians. A further objective was to analyse tinnitus among rock musicians as related to TEOAEs. The study was a cross-sectional survey of rock musicians selected at random. A control group was included at random for comparison. We recruited 111 musicians and a control group of 40 non-musicians. Testing was conducted by using clinical examination, pure tone audiometry, TEOAEs and a questionnaire. TEOAE SNR in the half-octave frequency band centred on 4 kHz was significantly lower bilaterally in musicians than controls. This effect was strongly predicted by age and pure-tone hearing threshold levels in the 3-6 kHz range. Bilateral hearing thresholds were significantly higher at 6 kHz in musicians. Twenty percent of the musicians had permanent tinnitus. There was no association between the TEOAE parameters and permanent tinnitus. Our results suggest an incipient hearing loss at 6 kHz in rock musicians. Loss of TEOAE SNR in the 4 kHz half-octave frequency band was observed, but it was related to higher mean 3-6 kHz hearing thresholds and age. A large proportion of rock musicians have permanent tinnitus.

A comparative study on the prevalence of musculoskeletal complaints among musicians and non-musicians

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Kok Laura M

2013-01-01

Full Text Available Abstract Background Research comparing the frequency of musculoskeletal complaints between musicians and non-musicians is scarce. The aim of this study was to compare the prevalence of musculoskeletal complaints between musicians and non-musicians. Methods A cross-sectional study in 3215 students from three music academies (n = 345 and one medical school (n = 2870 in The Netherlands was performed, using an electronic questionnaire. The questionnaire included socio-demographic characteristics, use of music instruments and the occurrence of musculoskeletal complaints in six body regions. Questions were related to musculoskeletal complaints over the last twelve months and at the time of the questionnaire. Chi-square, t-tests and Kruskal-Wallis tests were used for comparison between the two groups. The association between musculoskeletal complaints and possible predictors was analyzed using a logistic and Poisson regression. Results Eighty-seven music academy students and 503 medical students returned the questionnaire, of which respectively eighty-three and 494 were included in the study. Seventy-four music academy students (89.2% reported one or more musculoskeletal complaints during the last twelve months, compared to 384 (77.9% medical students (p = 0.019. Moreover 52 music academy students (62.7% and 211 medical students (42.7% reported current musculoskeletal complaints (p = 0.001. The Odds ratio (OR for the development of musculoskeletal complaints during the last twelve months in music academy students versus medical students is 2.33 (95% CI 1.61–3.05, p = 0.022. The OR at the time of the questionnaire is 2.25 (95% CI 1.77–2.73, p = 0.001. The total number of complaints have been modeled by employing a Poisson regression; the results show that non-musicians have on average less complaints than musicians (p = 0.01. The adjusted means are 2.90 (95% CI 2.18–3.63 and 1.83 (95% CI 1.63–2.04 respectively for

The Use of and Reactions to ePortfolio by University Students

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Lih-Juan ChanLin

2014-06-01

Full Text Available Tracking student learning outcomes within college courses is important for observing their academic preparation for future career. Many library and information education institutions are now encouraging the use of ePortfolio system to help students document their school achievements and better present themselves for future job seeking. This study examined the use of and reactions to the ePortforlio system of the Fu Jen Catholic University, launched in Fall, 2010. Qualitative and quantitative data were gathered during 2012 to analyze students’ experiences with and suggestions for the improvement of the ePortfolio system. 66 students’ self-reflections and 12 student interview data were gathered. An online survey based on the previous analyses was then developed and distributed to the LIS students who used the system. A total of 140 responses were gathered and used for quantitative analysis. Results of the study revealed that students’ reactions toward the ePortfolio system were positive. Students perceived the benefits of using ePortfolio in professional development and career placement. Peer influence encouraged the sharing of content. Students also highly agreed that longterm investment of time and use of external incentives were essential for promoting use of the ePortfolio system. It is also suggested that the functions of ePortfolio system needed to be enhanced in order to encourage more students’ use. [Article content in Chinese

[New portfolio, a users' manual].

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Cougnoux, Nadège; Deken, Éric; Juif, Isabelle; Papas, Anne

2015-10-01

The portfolio, a tool for monitoring nursing students throughout their internship period, has now been modified. The new 2015 version can be used to monitor and trace the student's career as well as progress made. One of the major new points is the integration of an intermediate internship assessment. Copyright © 2015 Elsevier Masson SAS. All rights reserved.

Music Career Opportunities and Career Compatibility: Interviews with University Music Faculty Members and Professional Musicians

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Branscome, Eric E.

2010-01-01

This study used a semistructured interview schedule to identify the music career opportunities available to students who graduate with an undergraduate music degree, and the skills, interests, work values, and personal characteristics that may determine a person's suitability for these music careers. Six university faculty members from each of the…

Musicians--same or different?

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Tervaniemi, Mari

2009-07-01

In the neuroscience of music, musicians have traditionally been treated as a unified group, as if the demands set by their musical activities would be more or less equal in terms of perceptual, cognitive, and motor functions. However, obviously, their musical preferences differentiate them to a higher degree, for instance, in terms of the instrument they choose and the music genre they are mostly engaged with as well as their practicing style. This diversity in musicians' profiles has been recently taken into account in several empirical endeavors. The present contribution will review the evidence available about the various neurocognitive profiles these different kinds of musicians display.

Neural correlates of strategy use during auditory working memory in musicians and non-musicians.

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Schulze, K; Mueller, K; Koelsch, S

2011-01-01

Working memory (WM) performance in humans can be improved by structuring and organizing the material to be remembered. For visual and verbal information, this process of structuring has been associated with the involvement of a prefrontal-parietal network, but for non-verbal auditory material, the brain areas that facilitate WM for structured information have remained elusive. Using functional magnetic resonance imaging, this study compared neural correlates underlying encoding and rehearsal of auditory WM for structured and unstructured material. Musicians and non-musicians performed a WM task on five-tone sequences that were either tonally structured (with all tones belonging to one tonal key) or tonally unstructured (atonal) sequences. Functional differences were observed for musicians (who are experts in the music domain), but not for non-musicians - The right pars orbitalis was activated more strongly in musicians during the encoding of unstructured (atonal) vs. structured (tonal) sequences. In addition, data for musicians showed that a lateral (pre)frontal-parietal network (including the right premotor cortex, right inferior precentral sulcus and left intraparietal sulcus) was activated during WM rehearsal of structured, as compared with unstructured, sequences. Our findings indicate that this network plays a role in strategy-based WM for non-verbal auditory information, corroborating previous results showing a similar network for strategy-based WM for visual and verbal information. © 2010 The Authors. European Journal of Neuroscience © 2010 Federation of European Neuroscience Societies and Blackwell Publishing Ltd.

Ministerial Careers and 'The Missing Piece': Introducing and operationalising the ministerial careers framework

DEFF Research Database (Denmark)

Bright, Jonathan; Döring, Holger; Little, Conor

2012-01-01

The literature on ministerial careers has recently been reinvigorated by individual contributions and collaborative projects. However, few studies of ministerial careers have been able to take into account the varying importance of ministerial positions. Fewer still have taken ministerial careers...... as their unit of analysis. As a result, they have been unable to account for crucial aspects of these careers. This paper seeks to fill these gaps, linking a crossnational data set on ministerial appointments and terminations with country-specific expert survey data that estimate the importance of ministerial...... portfolios. Among the new possibilities opened up by this data set of 977 ministerial careers is the systematic description of the structure of ministerial careers incorporating measures of ministerial importance. The paper contributes to the study of ministerial careers by introducing several innovations...

Sadness is unique: Neural processing of emotions in speech prosody in musicians and non-musicians

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Mona ePark

2015-01-01

Full Text Available Musical training has been shown to have positive effects on several aspects of speech processing, however, the effects of musical training on the neural processing of speech prosody conveying distinct emotions are yet to be better understood. We used functional magnetic resonance imaging (fMRI to investigate whether the neural responses to speech prosody conveying happiness, sadness, and fear differ between musicians and non-musicians. Differences in processing of emotional speech prosody between the two groups were only observed when sadness was expressed. Musicians showed increased activation in the middle frontal gyrus, the anterior medial prefrontal cortex, the posterior cingulate cortex and the retrosplenial cortex. Our results suggest an increased sensitivity of emotional processing in musicians with respect to sadness expressed in speech, possibly reflecting empathic processes.

Shifting identities : the musician as theatrical perfomer

NARCIS (Netherlands)

Hübner, Falk

2013-01-01

The artistic PhD research "Shifting Identities" investigates the musicians' professional identity and how this identity might shift when musicians start acting as theatrical performers. In most of the theatrical situations where musicians "perform", their profession is extended by additional tasks

Audiological and electrophysiological assessment of professional pop/rock musicians.

Science.gov (United States)

Samelli, Alessandra G; Matas, Carla G; Carvallo, Renata M M; Gomes, Raquel F; de Beija, Carolina S; Magliaro, Fernanda C L; Rabelo, Camila M

2012-01-01

In the present study, we evaluated peripheral and central auditory pathways in professional musicians (with and without hearing loss) compared to non-musicians. The goal was to verify if music exposure could affect auditory pathways as a whole. This is a prospective study that compared the results obtained between three groups (musicians with and without hearing loss and non-musicians). Thirty-two male individuals participated and they were assessed by: Immittance measurements, pure-tone air conduction thresholds at all frequencies from 0.25 to 20 kHz, Transient Evoked Otoacoustic Emissions, Auditory Brainstem Response (ABR), and Cognitive Potential. The musicians showed worse hearing thresholds in both conventional and high frequency audiometry when compared to the non-musicians; the mean amplitude of Transient Evoked Otoacoustic Emissions was smaller in the musicians group, but the mean latencies of Auditory Brainstem Response and Cognitive Potential were diminished in the musicians when compared to the non-musicians. Our findings suggest that the population of musicians is at risk for developing music-induced hearing loss. However, the electrophysiological evaluation showed that latency waves of ABR and P300 were diminished in musicians, which may suggest that the auditory training to which these musicians are exposed acts as a facilitator of the acoustic signal transmission to the cortex.

Audiological and electrophysiological assessment of professional pop/rock musicians

Directory of Open Access Journals (Sweden)

Alessandra G Samelli

2012-01-01

Full Text Available In the present study, we evaluated peripheral and central auditory pathways in professional musicians (with and without hearing loss compared to non-musicians. The goal was to verify if music exposure could affect auditory pathways as a whole. This is a prospective study that compared the results obtained between three groups (musicians with and without hearing loss and non-musicians. Thirty-two male individuals participated and they were assessed by: Immittance measurements, pure-tone air conduction thresholds at all frequencies from 0.25 to 20 kHz, Transient Evoked Otoacoustic Emissions, Auditory Brainstem Response (ABR, and Cognitive Potential. The musicians showed worse hearing thresholds in both conventional and high frequency audiometry when compared to the non-musicians; the mean amplitude of Transient Evoked Otoacoustic Emissions was smaller in the musicians group, but the mean latencies of Auditory Brainstem Response and Cognitive Potential were diminished in the musicians when compared to the non-musicians. Our findings suggest that the population of musicians is at risk for developing music-induced hearing loss. However, the electrophysiological evaluation showed that latency waves of ABR and P300 were diminished in musicians, which may suggest that the auditory training to which these musicians are exposed acts as a facilitator of the acoustic signal transmission to the cortex.

Music and Careers for the Junior High Student.

Science.gov (United States)

Carlson, Bruce

The curriculum guide describes an exemplary project designed to provide junior high school students with an opportunity to explore careers related to the world of music. The units present objectives, activities, and resources related to the following occupations: pop music artist, professional musician (union), instrumental and vocal music…

Neural processing of musical meter in musicians and non-musicians.

Science.gov (United States)

Zhao, T Christina; Lam, H T Gloria; Sohi, Harkirat; Kuhl, Patricia K

2017-11-01

Musical sounds, along with speech, are the most prominent sounds in our daily lives. They are highly dynamic, yet well structured in the temporal domain in a hierarchical manner. The temporal structures enhance the predictability of musical sounds. Western music provides an excellent example: while time intervals between musical notes are highly variable, underlying beats can be realized. The beat-level temporal structure provides a sense of regular pulses. Beats can be further organized into units, giving the percept of alternating strong and weak beats (i.e. metrical structure or meter). Examining neural processing at the meter level offers a unique opportunity to understand how the human brain extracts temporal patterns, predicts future stimuli and optimizes neural resources for processing. The present study addresses two important questions regarding meter processing, using the mismatch negativity (MMN) obtained with electroencephalography (EEG): 1) how tempo (fast vs. slow) and type of metrical structure (duple: two beats per unit vs. triple: three beats per unit) affect the neural processing of metrical structure in non-musically trained individuals, and 2) how early music training modulates the neural processing of metrical structure. Metrical structures were established by patterns of consecutive strong and weak tones (Standard) with occasional violations that disrupted and reset the structure (Deviant). Twenty non-musicians listened passively to these tones while their neural activities were recorded. MMN indexed the neural sensitivity to the meter violations. Results suggested that MMNs were larger for fast tempo and for triple meter conditions. Further, 20 musically trained individuals were tested using the same methods and the results were compared to the non-musicians. While tempo and meter type similarly influenced MMNs in both groups, musicians overall exhibited significantly reduced MMNs, compared to their non-musician counterparts. Further analyses

Popular Musician Responses to Mental Health Treatment.

Science.gov (United States)

Berg, Lloyd; King, Benjamin; Koenig, Jessica; McRoberts, Roger L

2018-06-01

Popular (i.e., nonclassical) musicians have higher rates of mental health disorders and mental health service utilization than the general population. Little is known, however, about how popular musicians perceive mental health interventions in terms of overall satisfaction and therapeutic benefit. An online client satisfaction survey was sent to all musicians and family members who received mental health services through a nonprofit mental health organization in Austin, Texas, between July 2014 and June 2015 (n=628). 260 individuals (41.4%) responded to the survey, of whom 94% (n=244) were musicians. A majority of musician respondents were male (60%) and white (82%). 87% received counseling, 32% received psychiatric medication treatment, and 8% received addiction recovery services. 97% of musicians (205/211) rated their counselor as 'very good' or 'excellent,' 88% (64/79) rated their psychiatric providers as 'very good' or 'excellent,' and 94% (17/19) rated their addiction recovery specialists as 'very good' or 'excellent' (nonsignificant between all categories, p>0.05). 89% of musicians receiving counseling, 84% receiving psychiatric medication treatment, and 95% receiving addiction recovery services agreed or strongly agreed that their symptoms and overall functioning improved as a result of their treatment (nonsignificant between all categories, p>0.05). Popular musicians express strong provider satisfaction and overall benefit when mental health interventions are accessible, affordable, and delivered by professionals familiar with their concerns. More research is needed to understand the unique psychosocial stresses popular musicians face to inform treatment planning for this high-risk, underserved population.

The influence of music and stress on musicians' hearing

Science.gov (United States)

Kähäri, Kim; Zachau, Gunilla; Eklöf, Mats; Möller, Claes

2004-10-01

Hearing and hearing disorders among classical and rock/jazz musicians was investigated. Pure tone audiometry was done in 140 classical and 139 rock/jazz musicians. The rock/jazz musicians answered a questionnaire concerning hearing disorders and psychosocial exposure. All results were compared to age appropriate reference materials. Hearing thresholds showed a notch configuration in both classical and rock/jazz musicians indicating the inclusion of high sound levels but an overall well-preserved hearing thresholds. Female musicians had significantly better hearing thresholds in the high-frequency area than males. Rock/jazz musicians showed slight worse hearing thresholds as compared to classical musicians. When assessing hearing disorders, a large number of rock/jazz musicians suffered from different hearing disorders (74%). Hearing loss, tinnitus and hyperacusis were the most common disorders and were significantly more frequent in comparison with different reference populations. Among classical musicians, no extended negative progress of the pure tone hearing threshold values was found in spite of the continued 16 years of musical noise exposure. In rock/jazz musicians, there was no relationships between psychosocial factors at work and hearing disorders. The rock/jazz musicians reported low stress and high degree of energy. On the average, the rock/jazz musicians reported higher control, lower stress and higher energy than a reference material of white-collar workers.

Instrument-related Skin Disorders in Musicians.

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Patruno, Cataldo; Napolitano, Maddalena; La Bella, Serena; Ayala, Fabio; Balato, Nicola; Cantelli, Mariateresa; Balato, Anna

2016-01-01

Among artists, musicians may suffer from occupational skin problems; notwithstanding, these conditions have been rarely reviewed. The characteristics of individual performer and the type of instrument will determine the kind of disease. Moreover, the hours that the musician spent to advance artistic skill may influence the severity. The frequency and risk factors of instrument-related skin disorders in musicians from southern Italy were analyzed. An observational study was conducted in 628 musicians. A questionnaire including questions related to age, sex, instrument played, musical activity, previous or current skin disorders, and impact of skin symptoms on music making was submitted. Of 628 musicians, 199 (31.7%) reported suffering from at least 1 skin disease. Cutaneous diseases likely directly correlated with the use of the musical instrument were found in 129 (20.5%) of the 628 subjects. In particular, different patterns of irritant contact dermatitis were found. Skin conditions may be a significant problem in professional instrumentalists. They are mainly related to musical activity. Preventive measures should be established.

Superior pre-attentive auditory processing in musicians.

Science.gov (United States)

Koelsch, S; Schröger, E; Tervaniemi, M

1999-04-26

The present study focuses on influences of long-term experience on auditory processing, providing the first evidence for pre-attentively superior auditory processing in musicians. This was revealed by the brain's automatic change-detection response, which is reflected electrically as the mismatch negativity (MMN) and generated by the operation of sensoric (echoic) memory, the earliest cognitive memory system. Major chords and single tones were presented to both professional violinists and non-musicians under ignore and attend conditions. Slightly impure chords, presented among perfect major chords elicited a distinct MMN in professional musicians, but not in non-musicians. This demonstrates that compared to non-musicians, musicians are superior in pre-attentively extracting more information out of musically relevant stimuli. Since effects of long-term experience on pre-attentive auditory processing have so far been reported for language-specific phonemes only, results indicate that sensory memory mechanisms can be modulated by training on a more general level.

From Classroom to Career Development Planning: Eportfolio Use Examples

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Ana Coric Samardzija

2014-12-01

Full Text Available In this paper we will present several examples of different maturity levels of ePortfolio usage at the Faculty of Organization and Informatics, University of Zagreb, Croatia. Firstly, we will illustrate basic in-class uses of ePortfolio in which students are introduced with the ePortfolio concept, self-reflection, self-monitoring and knowledge management. The primary goal of this phase is to show students how to record, plan and improve their professional skills in order to facilitate their preparation for the labour market. This phase is also aimed at recording and showcasing of students’ work and self-assessment. The second example of ePortfolio usage in this paper concerns self-guidance monitoring at the postgraduate level, where it is used to monitor the activities and progress of PhD students as well as to simplify communication between supervisors and doctoral candidates. In addition, by using the ePortfolio pattern, doctoral students are encouraged to start planning their careers as scientific researchers and experts. Finally, we introduce an example of using ePortfolios for academic human resources management as part of institutional quality assurance. For that purpose, a career development plan was developed to collect and monitor the work and progress of academic staff (both young researchers and teaching assistants.

Life Expectancy and Cause of Death in Popular Musicians: Is the Popular Musician Lifestyle the Road to Ruin?

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Kenny, Dianna T; Asher, Anthony

2016-03-01

Does a combination of lifestyle pressures and personality, as reflected in genre, lead to the early death of popular musicians? We explored overall mortality, cause of death, and changes in patterns of death over time and by music genre membership in popular musicians who died between 1950 and 2014. The death records of 13,195 popular musicians were coded for age and year of death, cause of death, gender, and music genre. Musician death statistics were compared with age-matched deaths in the US population using actuarial methods. Although the common perception is of a glamorous, free-wheeling lifestyle for this occupational group, the figures tell a very different story. Results showed that popular musicians have shortened life expectancy compared with comparable general populations. Results showed excess mortality from violent deaths (suicide, homicide, accidental death, including vehicular deaths and drug overdoses) and liver disease for each age group studied compared with population mortality patterns. These excess deaths were highest for the under-25-year age group and reduced chronologically thereafter. Overall mortality rates were twice as high compared with the population when averaged over the whole age range. Mortality impacts differed by music genre. In particular, excess suicides and liver-related disease were observed in country, metal, and rock musicians; excess homicides were observed in 6 of the 14 genres, in particular hip hop and rap musicians. For accidental death, actual deaths significantly exceeded expected deaths for country, folk, jazz, metal, pop, punk, and rock.

The CanMEDS portfolio: a tool for reflection in a fellowship programme.

Science.gov (United States)

Berger, Elizabeth; Shouldice, Michelle; Kuper, Ayelet; Albert, Mathieu

2011-09-01

We developed a portfolio framed by the CanMEDS roles for use in a paediatric fellowship programme. The portfolio includes four components: a record of participation and achievement; career goals and professional development; physical evidence; and reflective writing. Once the portfolio was in use for 6 months, we studied how fellows and faculty members were using the portfolio, and what they found to be its advantages and disadvantages. Fellows reported that it kept them organised and assisted them in setting their goals. They appreciated having a central place to record their accomplishments, as this allowed them to keep a thorough curriculum vitae. The portfolio was helpful in giving them the opportunity to honestly reflect on their achievements and setbacks, and, after reviewing this in their own minds, they were in a strong position to set an agenda for their meetings with supervisors. Both the fellows and supervisors were in agreement that the portfolio led to improved discussions at their meetings. Both groups also reported that this new tool was useful in furthering the career development of trainees, which was one of the main goals in its inception. Faculty supervisors also had a stronger sense of the fellows' work, and also of any gaps in training, as a result of using this tool. We hope that this reflection tool will be adapted for use in other training programmes. If it is introduced elsewhere, we would recommend that learners and staff receive ample training in its use so that it can be maximally effective. © Blackwell Publishing Ltd 2011.

Musician Map: visualizing music collaborations over time

Science.gov (United States)

Yim, Ji-Dong; Shaw, Chris D.; Bartram, Lyn

2009-01-01

In this paper we introduce Musician Map, a web-based interactive tool for visualizing relationships among popular musicians who have released recordings since 1950. Musician Map accepts search terms from the user, and in turn uses these terms to retrieve data from MusicBrainz.org and AudioScrobbler.net, and visualizes the results. Musician Map visualizes relationships of various kinds between music groups and individual musicians, such as band membership, musical collaborations, and linkage to other artists that are generally regarded as being similar in musical style. These relationships are plotted between artists using a new timeline-based visualization where a node in a traditional node-link diagram has been transformed into a Timeline-Node, which allows the visualization of an evolving entity over time, such as the membership in a band. This allows the user to pursue social trend queries such as "Do Hip-Hop artists collaborate differently than Rock artists".

Feeling the beat: premotor and striatal interactions in musicians and non-musicians during beat perception

Science.gov (United States)

Grahn, Jessica A.; Rowe, James B.

2009-01-01

Little is known about the underlying neurobiology of rhythm and beat perception, despite its universal cultural importance. Here we used functional magnetic resonance imaging to study rhythm perception in musicians and non-musicians. Three conditions varied in the degree to which external reinforcement versus internal generation of the beat was required. The ‘Volume’ condition strongly externally marked the beat with volume changes, the ‘Duration’ condition marked the beat with weaker accents arising from duration changes, and the ‘Unaccented’ condition required the beat to be entirely internally generated. In all conditions, beat rhythms compared to nonbeat control rhythms revealed putamen activity. The presence of a beat was also associated with greater connectivity between the putamen and the supplementary motor area (SMA), the premotor cortex (PMC) and auditory cortex. In contrast, the type of accent within the beat conditions modulated the coupling between premotor and auditory cortex, with greater modulation for musicians than non-musicians. Importantly, the putamen's response to beat conditions was not due to differences in temporal complexity between the three rhythm conditions. We propose that a cortico-subcortical network including the putamen, SMA, and PMC is engaged for the analysis of temporal sequences and prediction or generation of putative beats, especially under conditions that may require internal generation of the beat. The importance of this system for auditory-motor interaction and development of precisely timed movement is suggested here by its facilitation in musicians. PMID:19515922

Temporal Resolution and Active Auditory Discrimination Skill in Vocal Musicians

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Kumar, Prawin

2015-12-01

Full Text Available Introduction Enhanced auditory perception in musicians is likely to result from auditory perceptual learning during several years of training and practice. Many studies have focused on biological processing of auditory stimuli among musicians. However, there is a lack of literature on temporal resolution and active auditory discrimination skills in vocal musicians. Objective The aim of the present study is to assess temporal resolution and active auditory discrimination skill in vocal musicians. Method The study participants included 15 vocal musicians with a minimum professional experience of 5 years of music exposure, within the age range of 20 to 30 years old, as the experimental group, while 15 age-matched non-musicians served as the control group. We used duration discrimination using pure-tones, pulse-train duration discrimination, and gap detection threshold tasks to assess temporal processing skills in both groups. Similarly, we assessed active auditory discrimination skill in both groups using Differential Limen of Frequency (DLF. All tasks were done using MATLab software installed in a personal computer at 40dBSL with maximum likelihood procedure. The collected data were analyzed using SPSS (version 17.0. Result Descriptive statistics showed better threshold for vocal musicians compared with non-musicians for all tasks. Further, independent t-test showed that vocal musicians performed significantly better compared with non-musicians on duration discrimination using pure tone, pulse train duration discrimination, gap detection threshold, and differential limen of frequency. Conclusion The present study showed enhanced temporal resolution ability and better (lower active discrimination threshold in vocal musicians in comparison to non-musicians.

Evidence for enhanced interoceptive accuracy in professional musicians

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Katharina eSchirmer-Mokwa

2015-12-01

Full Text Available Interoception is defined as the perceptual activity involved in the processing of internal bodily signals. While the ability of internal perception is considered a relatively stable trait, recent data suggest that learning to integrate multisensory information can modulate it. Making music is a uniquely rich multisensory experience that has shown to alter motor, sensory, and multimodal representations in the brain of musicians. We hypothesize that musical training also heightens interoceptive accuracy comparable to other perceptual modalities. Thirteen professional singers, twelve string players, and thirteen matched non-musicians were examined using a well-established heartbeat discrimination paradigm complemented by self-reported dispositional traits. Results revealed that both groups of musicians displayed higher interoceptive accuracy than non-musicians, whereas no differences were found between singers and string-players. Regression analyses showed that accumulated musical practice explained about 49% variation in heartbeat perception accuracy in singers but not in string-players. Psychometric data yielded a number of psychologically plausible inter-correlations in musicians related to performance anxiety. However, dispositional traits were not a confounding factor on heartbeat discrimination accuracy. Together, these data provide first evidence indicating that professional musicians show enhanced interoceptive accuracy compared to non-musicians. We argue that musical training largely accounted for this effect.

Cognitive control in auditory working memory is enhanced in musicians.

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Karen Johanne Pallesen

Full Text Available Musical competence may confer cognitive advantages that extend beyond processing of familiar musical sounds. Behavioural evidence indicates a general enhancement of both working memory and attention in musicians. It is possible that musicians, due to their training, are better able to maintain focus on task-relevant stimuli, a skill which is crucial to working memory. We measured the blood oxygenation-level dependent (BOLD activation signal in musicians and non-musicians during working memory of musical sounds to determine the relation among performance, musical competence and generally enhanced cognition. All participants easily distinguished the stimuli. We tested the hypothesis that musicians nonetheless would perform better, and that differential brain activity would mainly be present in cortical areas involved in cognitive control such as the lateral prefrontal cortex. The musicians performed better as reflected in reaction times and error rates. Musicians also had larger BOLD responses than non-musicians in neuronal networks that sustain attention and cognitive control, including regions of the lateral prefrontal cortex, lateral parietal cortex, insula, and putamen in the right hemisphere, and bilaterally in the posterior dorsal prefrontal cortex and anterior cingulate gyrus. The relationship between the task performance and the magnitude of the BOLD response was more positive in musicians than in non-musicians, particularly during the most difficult working memory task. The results confirm previous findings that neural activity increases during enhanced working memory performance. The results also suggest that superior working memory task performance in musicians rely on an enhanced ability to exert sustained cognitive control. This cognitive benefit in musicians may be a consequence of focused musical training.

Towards wearable support for nomadic musicians

NARCIS (Netherlands)

Kock, S.V.; Bouwer, A.

2011-01-01

This article presents the design of the Boogynoma system, which aims to support musicians on the go. The system is designed to capture musical ideas which would normally require a guitar, bass, or drum kit and recording equipment. To inform the design of the system, four emiprofessional musicians,

Pitch Discrimination in Musicians and Non-Musicians: Effects of Harmonic Resolvability and Processing Effort

DEFF Research Database (Denmark)

Bianchi, Federica; Santurette, Sébastien; Wendt, Dorothea

2016-01-01

-musicians, suggesting similar peripheral frequency selectivity in the two groups of listeners. In a follow-up experiment, listeners’ pupil dilations were measured as an indicator of the required effort in performing the same pitch discrimination task for conditions of varying resolvability and task difficulty...... abilities in musicians are unlikely to be related to higher peripheral frequency selectivity and may suggest an enhanced pitch representation at more central stages of the auditory system in musically trained listeners....

Benefits and disadvantages of joint hypermobility among musicians.

Science.gov (United States)

Larsson, L G; Baum, J; Mudholkar, G S; Kollia, G D

1993-10-07

Joint hypermobility is considered to be both an advantage and a disadvantage. However, the degree of hypermobility in members of particular occupations requiring intense physical activity and the nature of the association between symptoms referable to specific joints and their hypermobility are unknown. We interviewed 660 musicians (300 women and 360 men) about work-related symptoms such as joint pain and swelling and examined them for joint hypermobility according to a standard protocol. We then determined the relation between the mobility of their fingers, thumbs, elbows, knees, and spine and any symptoms referable to these regions. Five of the 96 musicians (5 percent) with hypermobility of the wrists, mostly instrumentalists who played the flute, violin, or piano, had pain and stiffness in this region, whereas 100 of the 564 musicians (18 percent) without such hypermobility had symptoms (P = 0.001). Hypermobility of the elbow was associated with symptoms in only 1 of 208 musicians (< 1 percent), whereas 7 of 452 (2 percent) without this hypermobility had symptoms (P = 0.45). Among the 132 musicians who had hypermobile knees, 6 (5 percent) had symptoms, whereas only 1 of 528 (< 1 percent) with normal knees had symptoms (P < 0.001). Of the 462 musicians who had normal mobility of the spine, 50 (11 percent) had symptoms involving the back, as compared with 46 of the 198 musicians (23 percent) who had hypermobility of the spine (P < 0.001). Among musicians who play instruments requiring repetitive motion, hypermobility of joints such as the wrists and elbows may be an asset, whereas hypermobility of less frequently moved joints such as the knees and spine may be a liability.

Perception of Segment Boundaries in Musicians and Non-Musicians

DEFF Research Database (Denmark)

Hartmann, Martin; Toiviainen, Petri; Lartillot, Olivier

2014-01-01

In the act of music listening, many people break down musical pieces into chunks such as verses and choruses. Recent work on music segmentation has shown that highly agreed segment boundaries are also considered strong and are described by using multiple cues. However, these studies could...... not pinpoint the effects of data collection methods and of musicianship on boundary perception. Our study investigated the differences between segmentation tasks performed by musicians in real-time and non real-time listening contexts. Further, we assessed the effect of musical training on the perception...... at a time-scale of 10 seconds after comparing segmentation data at different resolutions. Further, musicians located significantly more boundaries in the non real-time task than in the real-time task for 5 out of 6 examples. We found a clear effect of the task but no effects of musical training upon...

Hearing in nonprofessional pop/rock musicians.

Science.gov (United States)

Schmuziger, Nicolas; Patscheke, Jochen; Probst, Rudolf

2006-08-01

The purpose of this study was to evaluate the hearing and subjective auditory symptoms in a group of nonprofessional pop/rock musicians who had experienced repeated exposures to intense sound levels during at least 5 yr of musical activity. An evaluation of both ears in 42 nonprofessional pop/rock musicians included pure-tone audiometry in the conventional and extended high-frequency range, the measurement of uncomfortable loudness levels, and an assessment of tinnitus and hypersensitivity to sound. Exclusion criteria were (a) the occurrence of acoustic trauma, (b) excessive noise exposure during occupational activities, (c) a history of recurrent otitis media, (d) previous ear surgery, (e) a fracture of the cranium, (f) ingestion of potentially ototoxic drugs, and (g) reported hearing difficulties within the immediate family. These audiometric results were then compared with a control group of 20 otologically normal young adults with no history of long-term noise exposure. After adjusting for age and gender, relative to ISO 7029, the mean hearing threshold in the frequency range of 3 to 8 kHz was 6 dB in the musicians and 1.5 dB in the control group. This difference was statistically significant (Mann-Whitney rank sum test, p rock musicians who had experienced repeated exposure to intense sound levels over at least 5 yr but with minimal impact on their lives. Moreover, hearing loss was minimal in the subjects who always used ear protection, being only 0.9 dB higher than the control group. In contrast, hearing loss was significantly more pronounced, at 6.7 dB higher than the control group, in those musicians who never used ear protection. Continued education about the risk to hearing and the benefits of the persistent use of ear protection is warranted for musicians who are exposed frequently to intense sound levels.

Using Electronic Student Portfolios in Management Education: A Stakeholder Perspective.

Science.gov (United States)

Chappell, David S.; Schermerhorn, John R., Jr.

1999-01-01

A business school is using electronic student portfolios as an academic assessment and career development tool. They are also used for internship and job placements. It is recommended that they be mandatory, even for students with weaker computer skills, and they should have defined deadlines and feedback mechanisms. (SK)

Tinnitus, Anxiety, Depression and Substance Abuse in Rock Musicians a Norwegian Survey.

Science.gov (United States)

Stormer, Carl Christian Lein; Sorlie, Tore; Stenklev, Niels Christian

2017-06-01

Rock musicians are known to have an increased prevalence of hearing loss and tinnitus. The aims of the present study were to examine the distribution of anxiety and depression symptoms among rock musicians with or without tinnitus and how these mental health indicators and internal locus of control influenced upon their tinnitus symptom concerns and the degree to which the tinnitus affected their lives. The study was a questionnairebased cross-sectional survey of subjects selected from a cohort of rock musicians. We recruited 111 active musicians from the Oslo region, and a control group of 40 non-musicians from the student population at the University of Tromso. Among the rock musicians 19.8% reported permanent tinnitus vs. 0% among the controls. Musicians more often reported anxiety symptoms than controls (35.1% vs. 17.5%), however this prevalence was not different in musicians with and without tinnitus. Tinnitus-affected musicians reported depressive symptoms, significantly more than controls (13.6% vs. 5%). Rock musicians consumed more alcohol than controls, but alcohol consumption was unrelated to severity of tinnitus. Drug abuse was not more prevalent in rock musicians than in controls. Duration of tinnitus, internal locus of control, sleep disturbance and anxiety were significant predictors of how affected and how concerned musicians were about their tinnitus. Rock musicians are at risk for the development of chronic tinnitus, and they have an increased prevalence of anxiety. There is an association between chronic tinnitus and depressive symptoms in rock musicians, but our results are ambiguous. Although rock musicians have a chronic exposure to noise, noise-induced hearing loss is not the sole causative agent for the development of tinnitus.

Cognitive control in auditory working memory is enhanced in musicians

DEFF Research Database (Denmark)

Pallesen, Karen Johanne; Brattico, Elvira; Bailey, Christopher J

2010-01-01

focus on task-relevant stimuli, a skill which is crucial to working memory. We measured the blood oxygenation-level dependent (BOLD) activation signal in musicians and non-musicians during working memory of musical sounds to determine the relation among performance, musical competence and generally...... hemisphere, and bilaterally in the posterior dorsal prefrontal cortex and anterior cingulate gyrus. The relationship between the task performance and the magnitude of the BOLD response was more positive in musicians than in non-musicians, particularly during the most difficult working memory task....... The results confirm previous findings that neural activity increases during enhanced working memory performance. The results also suggest that superior working memory task performance in musicians rely on an enhanced ability to exert sustained cognitive control. This cognitive benefit in musicians may...

Mental rotation and working memory in musicians' dystonia.

Science.gov (United States)

Erro, Roberto; Hirschbichler, Stephanie T; Ricciardi, Lucia; Ryterska, Agata; Antelmi, Elena; Ganos, Christos; Cordivari, Carla; Tinazzi, Michele; Edwards, Mark J; Bhatia, Kailash P

2016-11-01

Mental rotation of body parts engages cortical-subcortical areas that are actually involved in the execution of a movement. Musicians' dystonia is a type of focal hand dystonia that is grouped together with writer's cramp under the rubric of "occupational dystonia", but it is unclear to which extent these two disorders share common pathophysiological mechanisms. Previous research has demonstrated patients with writer's cramp to have deficits in mental rotation of body parts. It is unknown whether patients with musicians' dystonia would display similar deficits, reinforcing the concept of shared pathophysiology. Eight patients with musicians' dystonia and eight healthy musicians matched for age, gender and musical education, performed a number of tasks assessing mental rotation of body parts and objects as well as verbal and spatial working memories abilities. There were no differences between patients and healthy musicians as to accuracy and reaction times in any of the tasks. Patients with musicians' dystonia have intact abilities in mentally rotating body parts, suggesting that this disorder relies on a highly selective disruption of movement planning and execution that manifests only upon playing a specific instrument. We further demonstrated that mental rotation of body parts and objects engages, at least partially, different cognitive networks. Copyright © 2016 Elsevier Inc. All rights reserved.

Auditory and visual memory in musicians and nonmusicians

OpenAIRE

Cohen, Michael A.; Evans, Karla K.; Horowitz, Todd S.; Wolfe, Jeremy M.

2011-01-01

Numerous studies have shown that musicians outperform nonmusicians on a variety of tasks. Here we provide the first evidence that musicians have superior auditory recognition memory for both musical and nonmusical stimuli, compared to nonmusicians. However, this advantage did not generalize to the visual domain. Previously, we showed that auditory recognition memory is inferior to visual recognition memory. Would this be true even for trained musicians? We compared auditory and visual memory ...

Creativity and personality in classical, jazz and folk musicians.

Science.gov (United States)

Benedek, Mathias; Borovnjak, Barbara; Neubauer, Aljoscha C; Kruse-Weber, Silke

2014-06-01

The music genre of jazz is commonly associated with creativity. However, this association has hardly been formally tested. Therefore, this study aimed at examining whether jazz musicians actually differ in creativity and personality from musicians of other music genres. We compared students of classical music, jazz music, and folk music with respect to their musical activities, psychometric creativity and different aspects of personality. In line with expectations, jazz musicians are more frequently engaged in extracurricular musical activities, and also complete a higher number of creative musical achievements. Additionally, jazz musicians show higher ideational creativity as measured by divergent thinking tasks, and tend to be more open to new experiences than classical musicians. This study provides first empirical evidence that jazz musicians show particularly high creativity with respect to domain-specific musical accomplishments but also in terms of domain-general indicators of divergent thinking ability that may be relevant for musical improvisation. The findings are further discussed with respect to differences in formal and informal learning approaches between music genres.

Hearing loss and tinnitus in rock musicians: A Norwegian survey

Directory of Open Access Journals (Sweden)

Carl Christian Lein Størmer

2015-01-01

Full Text Available Our focus in this study was to assess hearing thresholds and the prevalence and characteristics of tinnitus in a large group of rock musicians based in Norway. A further objective was to assess related factors such as exposure, instrument category, and the preventive effect of hearing protection. The study was a cross-sectional survey of rock musicians selected at random from a defined cohort of musicians. A random control group was included for comparison. We recruited 111 active musicians from the Oslo region, and a control group of 40 nonmusicians from the student population at the University of TromsØ. The subjects were investigated using clinical examination, pure tone audiometry, tympanometry, and a questionnaire. We observed a hearing loss in 37.8% of the rock musicians. Significantly poorer hearing thresholds were seen at most pure-tone frequencies in musicians than controls, with the most pronounced threshold shift at 6 kHz. The use of hearing protection, in particular custom-fitted earplugs, has a preventive effect but a minority of rock musicians apply them consistently. The degree of musical performance exposure was inversely related to the degree of hearing loss in our sample. Bass and guitar players had higher hearing thresholds than vocalists. We observed a 20% prevalence of chronic tinnitus but none of the affected musicians had severe tinnitus symptomatology. There was no statistical association between permanent tinnitus and hearing loss in our sample. We observed an increased prevalence of hearing loss and tinnitus in our sample of Norwegian rock musicians but the causal relationship between musical exposure and hearing loss or tinnitus is ambiguous. We recommend the use of hearing protection in rock musicians.

Psychosocial stressors and the short life spans of legendary jazz musicians.

Science.gov (United States)

Patalano, F

2000-04-01

Mean age at death of 168 legendary jazz musicians and 100 renowned classical musicians were compared to examine whether psychosocial stressors such as severe substance abuse, haphazard working conditions, lack of acceptance of jazz as an art form in the United States, marital and family discord, and a vagabond life style may have contributed to shortened life spans for the jazz musicians. Analysis indicated that the jazz musicians died at an earlier age (57.2 yr.) than the classical musicians (73.3 yr.).

[Medical problems of musicians].

Science.gov (United States)

van de Wiel, Albert; Rietveld, Boni

2010-01-01

Most individuals enjoy making music, but pleasure may be diminished by physical complaints. The most common complaints in musicians include injuries of the upper part of the body including the shoulder and spine, skin disorders and hearing problems. Injuries are not so much related to the extent of rehearsing and playing but are mostly the result of a wrong position and misuse of the instrument. Adequate preparation before playing and professional coaching to avoid injuries or to detect problems at an early stage are exceptions rather than the rule. Because of the large number of amateur and professional musicians in the Netherlands, music medicine deserves a more prominent role.

Symptoms of craniomandibular dysfunction in professional orchestra musicians.

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Steinmetz, A; Zeh, A; Delank, K S; Peroz, I

2014-01-01

Up to 80% of professional musicians are affected by playing-related musculoskeletal disorders, but data regarding the frequency of craniomandibular dysfunction (CMD) in professional orchestra musicians is scarce. To evaluate the frequency of CMD and its relation to musculoskeletal pain in various body regions. A questionnaire-based survey approach assessing CMD symptoms and musculoskeletal pain in professional orchestra players was adopted. Relative prevalence rates and prevalence ratios for different instrument groups were estimated. A total of 408 musicians completed the questionnaire (response rate 57%). Playing-related pain in the teeth or jaw was reported by 19-47% of musicians and TMJ pain by 15-34%, depending on the instrument group. Current pain in the face indicating a painful CMD was reported in 6-10% and related symptoms such as teeth grinding in 25-34%, jaw clenching in 33-42% and jaw locking in 11-18% of musicians. Females were 2.4 times (95% confidence intervals (CI) 1.49-3.84) more likely to report having had orofacial pain within the last month. Musicians reporting orofacial pain within the last month were 4.8 times (95% CI: 2.83-8.02) more likely to report pain in the neck and 2.5-3.8 times (P neck, shoulder and hands. There is a need to enhance awareness of CMD to optimize early medical diagnosis and treatment.

Imagery mismatch negativity in musicians.

Science.gov (United States)

Herholz, Sibylle C; Lappe, Claudia; Knief, Arne; Pantev, Christo

2009-07-01

The present study investigated musical imagery in musicians and nonmusicians by means of magnetoencephalography (MEG). We used a new paradigm in which subjects had to continue familiar melodies in their mind and then judged if a further presented tone was a correct continuation of the melody. Incorrect tones elicited an imagery mismatch negativity (iMMN) in musicians but not in nonmusicians. This finding suggests that the MMN component can be based on an imagined instead of a sensory memory trace and that imagery of music is modulated by musical expertise.

Universal portfolios in stochastic portfolio theory

OpenAIRE

Wong, Ting-Kam Leonard

2015-01-01

Consider a family of portfolio strategies with the aim of achieving the asymptotic growth rate of the best one. The idea behind Cover's universal portfolio is to build a wealth-weighted average which can be viewed as a buy-and-hold portfolio of portfolios. When an optimal portfolio exists, the wealth-weighted average converges to it by concentration of wealth. Working under a discrete time and pathwise setup, we show under suitable conditions that the distribution of wealth in the family sati...

Connectivity patterns during music listening: Evidence for action-based processing in musicians.

Science.gov (United States)

Alluri, Vinoo; Toiviainen, Petri; Burunat, Iballa; Kliuchko, Marina; Vuust, Peter; Brattico, Elvira

2017-06-01

Musical expertise is visible both in the morphology and functionality of the brain. Recent research indicates that functional integration between multi-sensory, somato-motor, default-mode (DMN), and salience (SN) networks of the brain differentiates musicians from non-musicians during resting state. Here, we aimed at determining whether brain networks differentially exchange information in musicians as opposed to non-musicians during naturalistic music listening. Whole-brain graph-theory analyses were performed on participants' fMRI responses. Group-level differences revealed that musicians' primary hubs comprised cerebral and cerebellar sensorimotor regions whereas non-musicians' dominant hubs encompassed DMN-related regions. Community structure analyses of the key hubs revealed greater integration of motor and somatosensory homunculi representing the upper limbs and torso in musicians. Furthermore, musicians who started training at an earlier age exhibited greater centrality in the auditory cortex, and areas related to top-down processes, attention, emotion, somatosensory processing, and non-verbal processing of speech. We here reveal how brain networks organize themselves in a naturalistic music listening situation wherein musicians automatically engage neural networks that are action-based while non-musicians use those that are perception-based to process an incoming auditory stream. Hum Brain Mapp 38:2955-2970, 2017. © 2017 Wiley Periodicals, Inc. © 2017 Wiley Periodicals, Inc.

Music listening engages specific cortical regions within the temporal lobes: differences between musicians and non-musicians.

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Angulo-Perkins, Arafat; Aubé, William; Peretz, Isabelle; Barrios, Fernando A; Armony, Jorge L; Concha, Luis

2014-10-01

Music and speech are two of the most relevant and common sounds in the human environment. Perceiving and processing these two complex acoustical signals rely on a hierarchical functional network distributed throughout several brain regions within and beyond the auditory cortices. Given their similarities, the neural bases for processing these two complex sounds overlap to a certain degree, but particular brain regions may show selectivity for one or the other acoustic category, which we aimed to identify. We examined 53 subjects (28 of them professional musicians) by functional magnetic resonance imaging (fMRI), using a paradigm designed to identify regions showing increased activity in response to different types of musical stimuli, compared to different types of complex sounds, such as speech and non-linguistic vocalizations. We found a region in the anterior portion of the superior temporal gyrus (aSTG) (planum polare) that showed preferential activity in response to musical stimuli and was present in all our subjects, regardless of musical training, and invariant across different musical instruments (violin, piano or synthetic piano). Our data show that this cortical region is preferentially involved in processing musical, as compared to other complex sounds, suggesting a functional role as a second-order relay, possibly integrating acoustic characteristics intrinsic to music (e.g., melody extraction). Moreover, we assessed whether musical experience modulates the response of cortical regions involved in music processing and found evidence of functional differences between musicians and non-musicians during music listening. In particular, bilateral activation of the planum polare was more prevalent, but not exclusive, in musicians than non-musicians, and activation of the right posterior portion of the superior temporal gyrus (planum temporale) differed between groups. Our results provide evidence of functional specialization for music processing in specific

Modulated neural processing of Western harmony in folk musicians.

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Brattico, Elvira; Tupala, Tiina; Glerean, Enrico; Tervaniemi, Mari

2013-07-01

A chord deviating from the conventions of Western tonal music elicits an early right anterior negativity (ERAN) in inferofrontal brain regions. Here, we tested whether the ERAN is modulated by expertise in more than one music culture, as typical of folk musicians. Finnish folk musicians and nonmusicians participated in electroencephalography recordings. The cadences consisted of seven chords. In incongruous cadences, the third, fifth, or seventh chord was a Neapolitan. The ERAN to the Neapolitans was enhanced in folk musicians compared to nonmusicians. Folk musicians showed an enhanced P3a for the ending Neapolitan. The Neapolitan at the fifth position was perceived differently and elicited a late enhanced ERAN in folk musicians. Hence, expertise in more than one music culture seems to modify chord processing by enhancing the ERAN to ambivalent chords and the P3a to incongruous chords, and by altering their perceptual attributes. Copyright © 2013 Society for Psychophysiological Research.

Task-irrelevant auditory feedback facilitates motor performance in musicians

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Virginia eConde

2012-05-01

Full Text Available An efficient and fast auditory–motor network is a basic resource for trained musicians due to the importance of motor anticipation of sound production in musical performance. When playing an instrument, motor performance always goes along with the production of sounds and the integration between both modalities plays an essential role in the course of musical training. The aim of the present study was to investigate the role of task-irrelevant auditory feedback during motor performance in musicians using a serial reaction time task (SRTT. Our hypothesis was that musicians, due to their extensive auditory–motor practice routine during musical training, have a superior performance and learning capabilities when receiving auditory feedback during SRTT relative to musicians performing the SRTT without any auditory feedback. Here we provide novel evidence that task-irrelevant auditory feedback is capable to reinforce SRTT performance but not learning, a finding that might provide further insight into auditory-motor integration in musicians on a behavioral level.

Probabilistic diffusion tractography reveals improvement of structural network in musicians.

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Jianfu Li

Full Text Available PURPOSE: Musicians experience a large amount of information transfer and integration of complex sensory, motor, and auditory processes when training and playing musical instruments. Therefore, musicians are a useful model in which to investigate neural adaptations in the brain. METHODS: Here, based on diffusion-weighted imaging, probabilistic tractography was used to determine the architecture of white matter anatomical networks in musicians and non-musicians. Furthermore, the features of the white matter networks were analyzed using graph theory. RESULTS: Small-world properties of the white matter network were observed in both groups. Compared with non-musicians, the musicians exhibited significantly increased connectivity strength in the left and right supplementary motor areas, the left calcarine fissure and surrounding cortex and the right caudate nucleus, as well as a significantly larger weighted clustering coefficient in the right olfactory cortex, the left medial superior frontal gyrus, the right gyrus rectus, the left lingual gyrus, the left supramarginal gyrus, and the right pallidum. Furthermore, there were differences in the node betweenness centrality in several regions. However, no significant differences in topological properties were observed at a global level. CONCLUSIONS: We illustrated preliminary findings to extend the network level understanding of white matter plasticity in musicians who have had long-term musical training. These structural, network-based findings may indicate that musicians have enhanced information transmission efficiencies in local white matter networks that are related to musical training.

Behavioral and neural correlates of executive functioning in musicians and non-musicians.

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Jennifer Zuk

Full Text Available Executive functions (EF are cognitive capacities that allow for planned, controlled behavior and strongly correlate with academic abilities. Several extracurricular activities have been shown to improve EF, however, the relationship between musical training and EF remains unclear due to methodological limitations in previous studies. To explore this further, two experiments were performed; one with 30 adults with and without musical training and one with 27 musically trained and untrained children (matched for general cognitive abilities and socioeconomic variables with a standardized EF battery. Furthermore, the neural correlates of EF skills in musically trained and untrained children were investigated using fMRI. Adult musicians compared to non-musicians showed enhanced performance on measures of cognitive flexibility, working memory, and verbal fluency. Musically trained children showed enhanced performance on measures of verbal fluency and processing speed, and significantly greater activation in pre-SMA/SMA and right VLPFC during rule representation and task-switching compared to musically untrained children. Overall, musicians show enhanced performance on several constructs of EF, and musically trained children further show heightened brain activation in traditional EF regions during task-switching. These results support the working hypothesis that musical training may promote the development and maintenance of certain EF skills, which could mediate the previously reported links between musical training and enhanced cognitive skills and academic achievement.

The Commodification of Music Theorising Musicians

OpenAIRE

Bradshaw, Alan

2005-01-01

This thesis considers the dialectical relationship between music and commerce and asks the question why are some musicians uneasy with the commodification of their music? The question is considered from the vantage points of professional musicians and their experiences in dealing with the commodification process. In exploring this dialectic, the thesis is organised around the interactionist orientation and a framework designed by Holt (2004) in which the research design and question emerges f...

Jazz musicians reveal role of expectancy in human creativity.

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Przysinda, Emily; Zeng, Tima; Maves, Kellyn; Arkin, Cameron; Loui, Psyche

2017-12-01

Creativity has been defined as the ability to produce work that is novel, high in quality, and appropriate to an audience. While the nature of the creative process is under debate, many believe that creativity relies on real-time combinations of known neural and cognitive processes. One useful model of creativity comes from musical improvisation, such as in jazz, in which musicians spontaneously create novel sound sequences. Here we use jazz musicians to test the hypothesis that individuals with training in musical improvisation, which entails creative generation of musical ideas, might process expectancy differently. We compare jazz improvisers, non-improvising musicians, and non-musicians in the domain-general task of divergent thinking, as well as the musical task of preference ratings for chord progressions that vary in expectation while EEGs were recorded. Behavioral results showed for the first time that jazz musicians preferred unexpected chord progressions. ERP results showed that unexpected stimuli elicited larger early and mid-latency ERP responses (ERAN and P3b), followed by smaller long-latency responses (Late Positivity Potential) in jazz musicians. The amplitudes of these ERP components were significantly correlated with behavioral measures of fluency and originality on the divergent thinking task. Together, results highlight the role of expectancy in creativity. Copyright © 2017 Elsevier Inc. All rights reserved.

Is 27 really a dangerous age for famous musicians? Retrospective cohort study.

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Wolkewitz, Martin; Allignol, Arthur; Graves, Nicholas; Barnett, Adrian G

2011-12-20

To test the "27 club" hypothesis that famous musicians are at an increased risk of death at age 27. Design Cohort study using survival analysis with age as a time dependent exposure. Comparison was primarily made within musicians, and secondarily relative to the general UK population. The popular music scene from a UK perspective. Musicians (solo artists and band members) who had a number one album in the UK between 1956 and 2007 (n = 1046 musicians, with 71 deaths, 7%). Risk of death by age of musician, accounting for time dependent study entry and the number of musicians at risk. Risk was estimated using a flexible spline which would allow a bump at age 27 to appear. We identified three deaths at age 27 amongst 522 musicians at risk, giving a rate of 0.57 deaths per 100 musician years. Similar death rates were observed at ages 25 (rate = 0.56) and 32 (0.54). There was no peak in risk around age 27, but the risk of death for famous musicians throughout their 20s and 30s was two to three times higher than the general UK population. The 27 club is unlikely to be a real phenomenon. Fame may increase the risk of death among musicians, but this risk is not limited to age 27.

Spatial vision is superior in musicians when memory plays a role.

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Weiss, Atalia H; Biron, Tali; Lieder, Itay; Granot, Roni Y; Ahissar, Merav

2014-08-21

Musicians' perceptual advantage in the acoustic domain is well established. Recent studies show that musicians' verbal working memory is also superior. Additionally, some studies report that musicians' visuospatial skills are enhanced although others failed to find this enhancement. We now examined whether musicians' spatial vision is superior, and if so, whether this superiority reflects refined visual skills or a general superiority of working memory. We examined spatial frequency discrimination among musicians and nonmusician university students using two presentation conditions: simultaneous (spatial forced choice) and sequential (temporal forced choice). Musicians' performance was similar to that of nonmusicians in the simultaneous condition. However, their performance in the sequential condition was superior, suggesting an advantage only when stimuli need to be retained, i.e., working memory. Moreover, the two groups showed a different pattern of correlations: Musicians' visual thresholds were correlated, and neither was correlated with their verbal memory. By contrast, among nonmusicians, the visual thresholds were not correlated, but sequential thresholds were correlated with verbal memory scores, suggesting that a general working memory component limits their performance in this condition. We propose that musicians' superiority in spatial frequency discrimination reflects an advantage in a domain-general aspect of working memory rather than a general enhancement in spatial-visual skills. © 2014 ARVO.

Investigation of symphony orchestra musicians' use of hearing protectors

DEFF Research Database (Denmark)

Poulsen, Torben; Koskinen, Heli

2010-01-01

A questionnaire study was performed about the use of hearing protectors in Danish symphony orchestras. The musicians in three Danish symphony orchestras were asked to complete a questionnaire about their use of hearing protection. A total of 146 musicians filled in the questionnaire. Results show...... an investigation is performed about the use of hearing aids as hearing protectors by symphony orchestra musicians. Preliminary results from this investigation will be presented at the conference....

Auditory and visual memory in musicians and nonmusicians.

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Cohen, Michael A; Evans, Karla K; Horowitz, Todd S; Wolfe, Jeremy M

2011-06-01

Numerous studies have shown that musicians outperform nonmusicians on a variety of tasks. Here we provide the first evidence that musicians have superior auditory recognition memory for both musical and nonmusical stimuli, compared to nonmusicians. However, this advantage did not generalize to the visual domain. Previously, we showed that auditory recognition memory is inferior to visual recognition memory. Would this be true even for trained musicians? We compared auditory and visual memory in musicians and nonmusicians using familiar music, spoken English, and visual objects. For both groups, memory for the auditory stimuli was inferior to memory for the visual objects. Thus, although considerable musical training is associated with better musical and nonmusical auditory memory, it does not increase the ability to remember sounds to the levels found with visual stimuli. This suggests a fundamental capacity difference between auditory and visual recognition memory, with a persistent advantage for the visual domain.

Verbal memory retrieval engages visual cortex in musicians.

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Huang, Z; Zhang, J X; Yang, Z; Dong, G; Wu, J; Chan, A S; Weng, X

2010-06-16

As one major line of research on brain plasticity, many imaging studies have been conducted to identify the functional and structural reorganization associated with musical expertise. Based on previous behavioral research, the present study used functional magnetic resonance imaging to identify the neural correlates of superior verbal memory performance in musicians. Participants with and without musical training performed a verbal memory task to first encode a list of words auditorily delivered and then silently recall as many words as possible. They performed in separate blocks a control task involving pure tone pitch judgment. Post-scan recognition test showed better memory performance in musicians than non-musicians. During memory retrieval, the musicians showed significantly greater activations in bilateral though left-lateralized visual cortex relative to the pitch judgment baseline. In comparison, no such visual cortical activations were found in the non-musicians. No group differences were observed during the encoding stage. The results echo a previous report of visual cortical activation during verbal memory retrieval in the absence of any visual sensory stimulation in the blind population, who are also known to possess superior verbal memory. It is suggested that the visual cortex can be recruited to serve as extra memory resources and contributes to the superior verbal memory in special situations. While in the blind population, such cross-modal functional reorganization may be induced by sensory deprivation; in the musicians it may be induced by the long-term and demanding nature of musical training to use as much available neural resources as possible. 2010 IBRO. Published by Elsevier Ltd. All rights reserved.

Music and its Impact on Musicians in Broadcasting Company

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Mina Milani

1999-03-01

Full Text Available Sound is an inseparable part of human life and provides us with lovely experiences such as listening to music. Musicians from classical orchestras to rock groups are exposed to high decibel of sounds. Musicians playing percussion musical instruments are exposed to high level of impact noise and players of Brass musical instruments are highly exposed to noise peaks higher than 100dB. Woodwind players are enduring the risk of posing directly in front of Brass players. Based on the above-mentioned risks for hearing loss clinical consideration of noise induced hearing loss in musicians is highly required. In the current study we were aimed at examining hearing stratus of classic and traditional musicians by means of pure tone audiometry in Islamic Republic of Iran Broadcasting. 33 subjects were evaluated aged between 22 to 59 years old. Their musical experience was variable between 6 to 45 years. The study demonstrated that most of the musicians in this study suffered bilateral high frequency hearing loss with a notch in the frequency range of 4-8 KHz.

Electronic portfolios in nursing education: a review of the literature.

Science.gov (United States)

Green, Janet; Wyllie, Aileen; Jackson, Debra

2014-01-01

As health professionals, nurses are responsible for staying abreast of current professional knowledge and managing their own career, professional growth and development, and ideally, practices to support these activities should start during their student years. Interest in electronic or eportfolios is gathering momentum as educationalists explore their potential as a strategy for fostering lifelong learning and enhancing on-going personal and professional development. In this paper, we present an overview of e-portfolios and their application to nurse education, highlighting potential benefits and considerations of useage. We argue that the e-portfolio can represent an authentic means of assessing cognitive, reflective and affective skills. Furthermore, the e-portfolio provides a means through which nurses can record and provide evidence of skills, achievements, experience, professional development and on-going learning, not only for themselves, but for the information and scrutiny of registration boards, employers, managers and peers. Crown Copyright © 2013. Published by Elsevier Ltd. All rights reserved.

Portfolio Optimization

OpenAIRE

Issagali, Aizhan; Alshimbayeva, Damira; Zhalgas, Aidana

2015-01-01

In this paper Portfolio Optimization techniques were used to determine the most favorable investment portfolio. In particular, stock indices of three companies, namely Microsoft Corporation, Christian Dior Fashion House and Shevron Corporation were evaluated. Using this data the amounts invested in each asset when a portfolio is chosen on the efficient frontier were calculated. In addition, the Portfolio with minimum variance, tangency portfolio and optimal Markowitz portfolio are presented.

Auditory and cognitive performance in elderly musicians and nonmusicians.

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Massimo Grassi

Full Text Available Musicians represent a model for examining brain and behavioral plasticity in terms of cognitive and auditory profile, but few studies have investigated whether elderly musicians have better auditory and cognitive abilities than nonmusicians. The aim of the present study was to examine whether being a professional musician attenuates the normal age-related changes in hearing and cognition. Elderly musicians still active in their profession were compared with nonmusicians on auditory performance (absolute threshold, frequency intensity, duration and spectral shape discrimination, gap and sinusoidal amplitude-modulation detection, and on simple (short-term memory and more complex and higher-order (working memory [WM] and visuospatial abilities cognitive tasks. The sample consisted of adults at least 65 years of age. The results showed that older musicians had similar absolute thresholds but better supra-threshold discrimination abilities than nonmusicians in four of the six auditory tasks administered. They also had a better WM performance, and stronger visuospatial abilities than nonmusicians. No differences were found between the two groups' short-term memory. Frequency discrimination and gap detection for the auditory measures, and WM complex span tasks and one of the visuospatial tasks for the cognitive ones proved to be very good classifiers of the musicians. These findings suggest that life-long music training may be associated with enhanced auditory and cognitive performance, including complex cognitive skills, in advanced age. However, whether this music training represents a protective factor or not needs further investigation.

159 THE ROLE OF MUSIC AND MUSICIANS IN PROMOTING ...

African Journals Online (AJOL)

User

instability, musicians and music have a holistic role to play. And this is ... musicians useful, so that the child grows up a responsible ... endearing messages of body movements… ... In a similar development, he encouraged people never to be.

Auditory temporal processing skills in musicians with dyslexia.

Science.gov (United States)

Bishop-Liebler, Paula; Welch, Graham; Huss, Martina; Thomson, Jennifer M; Goswami, Usha

2014-08-01

The core cognitive difficulty in developmental dyslexia involves phonological processing, but adults and children with dyslexia also have sensory impairments. Impairments in basic auditory processing show particular links with phonological impairments, and recent studies with dyslexic children across languages reveal a relationship between auditory temporal processing and sensitivity to rhythmic timing and speech rhythm. As rhythm is explicit in music, musical training might have a beneficial effect on the auditory perception of acoustic cues to rhythm in dyslexia. Here we took advantage of the presence of musicians with and without dyslexia in musical conservatoires, comparing their auditory temporal processing abilities with those of dyslexic non-musicians matched for cognitive ability. Musicians with dyslexia showed equivalent auditory sensitivity to musicians without dyslexia and also showed equivalent rhythm perception. The data support the view that extensive rhythmic experience initiated during childhood (here in the form of music training) can affect basic auditory processing skills which are found to be deficient in individuals with dyslexia. Copyright © 2014 John Wiley & Sons, Ltd.

The lived experience of working as a musician with an injury.

Science.gov (United States)

Guptill, Christine

2011-01-01

Research and clinical experience have shown that musicians are at risk of acquiring playing-related injuries. This paper explores findings from a qualitative research study examining the lived experience of professional instrumental musicians with playing-related injuries, which has thus far been missing from the performing arts health literature. This study employed a phenomenological methodology influenced by van Manen to examine the lived experiences of professional musicians with playing-related injuries. Ten professional musicians in Ontario, Canada were interviewed about their experiences as musicians with playing-related injuries. Six of the participants later attended a focus group where preliminary findings were presented. The findings demonstrate a need for education about risk and prevention of injuries that could be satisfied by healthcare professionals and music educators. The practice and training of healthcare professionals should include the "tactful" (van Manen) delivery of care for this important and vulnerable population.

The sound of music: differentiating musicians using a fast, musical multi-feature mismatch negativity paradigm.

Science.gov (United States)

Vuust, Peter; Brattico, Elvira; Seppänen, Miia; Näätänen, Risto; Tervaniemi, Mari

2012-06-01

Musicians' skills in auditory processing depend highly on instrument, performance practice, and on level of expertise. Yet, it is not known though whether the style/genre of music might shape auditory processing in the brains of musicians. Here, we aimed at tackling the role of musical style/genre on modulating neural and behavioral responses to changes in musical features. Using a novel, fast and musical sounding multi-feature paradigm, we measured the mismatch negativity (MMN), a pre-attentive brain response, to six types of musical feature change in musicians playing three distinct styles of music (classical, jazz, rock/pop) and in non-musicians. Jazz and classical musicians scored higher in the musical aptitude test than band musicians and non-musicians, especially with regards to tonal abilities. These results were extended by the MMN findings: jazz musicians had larger MMN-amplitude than all other experimental groups across the six different sound features, indicating a greater overall sensitivity to auditory outliers. In particular, we found enhanced processing of pith and sliding up to pitches in jazz musicians only. Furthermore, we observed a more frontal MMN to pitch and location compared to the other deviants in jazz musicians and left lateralization of the MMN to timbre in classical musicians. These findings indicate that the characteristics of the style/genre of music played by musicians influence their perceptual skills and the brain processing of sound features embedded in a musical context. Musicians' brain is hence shaped by the type of training, musical style/genre, and listening experiences. Copyright © 2012 Elsevier Ltd. All rights reserved.

Individual, lifestyle, and psychosocial factors related to insomnia among Norwegian musicians

OpenAIRE

Saksvik-Lehouillier, Ingvild; Bjerkeset, Ottar; Vaag, Jonas

2017-01-01

Musicians report a considerably higher prevalence of insomnia symptoms compared to community samples in the general workforce. The aim of this study was to investigate the association between insomnia and health, work-related, and lifestyle factors among musicians. A total of 645 full-time musicians completed a questionnaire measuring insomnia symptoms: personality, psychosocial factors (perceived job demands, job control, effort-reward imbalance, and general social support), and lifestyle (s...

Accurate guitar tuning by cochlear implant musicians.

Directory of Open Access Journals (Sweden)

Thomas Lu

Full Text Available Modern cochlear implant (CI users understand speech but find difficulty in music appreciation due to poor pitch perception. Still, some deaf musicians continue to perform with their CI. Here we show unexpected results that CI musicians can reliably tune a guitar by CI alone and, under controlled conditions, match simultaneously presented tones to <0.5 Hz. One subject had normal contralateral hearing and produced more accurate tuning with CI than his normal ear. To understand these counterintuitive findings, we presented tones sequentially and found that tuning error was larger at ∼ 30 Hz for both subjects. A third subject, a non-musician CI user with normal contralateral hearing, showed similar trends in performance between CI and normal hearing ears but with less precision. This difference, along with electric analysis, showed that accurate tuning was achieved by listening to beats rather than discriminating pitch, effectively turning a spectral task into a temporal discrimination task.

Effects of Aging on Musical Performance in Professional Orchestral Musicians.

Science.gov (United States)

Kenny, Dianna T; Driscoll, Tim; Ackermann, Bronwen J

2018-03-01

The physical and psychological demands of playing a musical instrument are likely to be affected by age-related decline in function, including physical, cognitive, psychological, and organ-related changes. However, the complex neurophysiological demands of playing a musical instrument may delay many normal aging-related changes. This study compared professional classical musicians of different ages, using a range of physical and psychological measures, to discover how increasing age might affect work performance and to identify possible risk and protective factors for physical and psychological health as the musicians age. 377 professional orchestral musicians from eight Australian orchestras (70% response rate), ages 18 to 68 yrs (mean 42.1). Multiple standardized physical and psychological tools were used to evaluate the impact of age on a range of physical and mental health variables. Age was not statistically associated with frequency or severity of performance-related musculoskeletal disorders, ratings of perceived exertion, QuickDASH scores, use of beta-blockers, workplace satisfaction, and most psychological tests. Differences were observed on SPIN (social anxiety) scores, with lowest scores in the oldest age group (10.66 in 55+ yrs vs 17.83 in 18-30 yrs, p=0.016). Older musicians had higher BMIs and fewer practice sessions per day than younger musicians and also were more likely to consume alcohol on 5+ days/wk (44% vs 9%, p=0.003). Advancing age does not appear to exert undue negative impacts on physical and psychological health or performance capacity of professional orchestral musicians. However, dwindling numbers in the older age groups may suggest a "survivor" effect, whereby those who develop significant age-related decrements may cease professional performance at earlier ages. Longitudinal studies on the professional trajectories of professional orchestral musicians are needed to explore this question further.

Developing Career and Employability Skills: A US Case Study.

Science.gov (United States)

Zinser, Richard

2003-01-01

Western Michigan University's technical teacher education program developed a course on teaching career and employability skills using state standards and benchmarks as a framework. Preservice teachers complete five projects: job shadowing, professional portfolio, written lesson plan, videotape and self-critique of lesson plan, and an application…

Musicians have better memory than nonmusicians: A meta-analysis.

Science.gov (United States)

Talamini, Francesca; Altoè, Gianmarco; Carretti, Barbara; Grassi, Massimo

2017-01-01

Several studies have found that musicians perform better than nonmusicians in memory tasks, but this is not always the case, and the strength of this apparent advantage is unknown. Here, we conducted a meta-analysis with the aim of clarifying whether musicians perform better than nonmusicians in memory tasks. Education Source; PEP (WEB)-Psychoanalytic Electronic Publishing; Psychology and Behavioral Science (EBSCO); PsycINFO (Ovid); PubMed; ScienceDirect-AllBooks Content (Elsevier API); SCOPUS (Elsevier API); SocINDEX with Full Text (EBSCO) and Google Scholar were searched for eligible studies. The selected studies involved two groups of participants: young adult musicians and nonmusicians. All the studies included memory tasks (loading long-term, short-term or working memory) that contained tonal, verbal or visuospatial stimuli. Three meta-analyses were run separately for long-term memory, short-term memory and working memory. We collected 29 studies, including 53 memory tasks. The results showed that musicians performed better than nonmusicians in terms of long-term memory, g = .29, 95% CI (.08-.51), short-term memory, g = .57, 95% CI (.41-.73), and working memory, g = .56, 95% CI (.33-.80). To further explore the data, we included a moderator (the type of stimulus presented, i.e., tonal, verbal or visuospatial), which was found to influence the effect size for short-term and working memory, but not for long-term memory. In terms of short-term and working memory, the musicians' advantage was large with tonal stimuli, moderate with verbal stimuli, and small or null with visuospatial stimuli. The three meta-analyses revealed a small effect size for long-term memory, and a medium effect size for short-term and working memory, suggesting that musicians perform better than nonmusicians in memory tasks. Moreover, the effect of the moderator suggested that, the type of stimuli influences this advantage.

Visual Complaints and Eye Problems in Orchestral Musicians.

Science.gov (United States)

Beckers, Henny Jm; van Kooten-Noordzij, Marina Aw; de Crom, Ronald Mpc; Schouten, Jan Sag; Webers, Carroll Ab

2016-09-01

To study visual complaints and eye diseases among professional and amateur orchestral musicians in the Netherlands. In this observational study, members from professional and amateur symphony or wind orchestras were asked to complete a questionnaire collecting demographic data, musical, medical, and family history, and data on present visual complaints and/or eye diseases. Questions about playing in the orchestra were also asked. Data from 70 professionals and 48 amateurs showed that most musicians needed glasses or contact lenses for playing in the orchestra (61% of the professionals, 63% of the amateurs). A majority (66% of professionals, 71% of amateurs) had visited an ophthalmologist at least once during their lifetime, and 10% of the professionals and 23% of the amateurs were currently under treatment of an ophthalmologist. Visual complaints while playing in the orchestra were quite common and included poor lighting conditions, problems with reading small notes, blurred vision, tired eyes, and itching or burning eyes. Professional musicians especially reported adverse effects of eye complaints encountered in the orchestra for daily life; 35% got tired earlier and 33% felt that they could not adequately perform their tasks in the orchestra. The results show that visual complaints and eye problems probably are quite common among orchestral musicians and therefore warrant further interest and research.

[Focal dystonia in musicians: Phenomenology and musical triggering factors].

Science.gov (United States)

Aránguiz, R; Chana-Cuevas, P; Alburquerque, D; Curinao, X

2015-06-01

Dystonias are defined as a joint sustained and involuntary contraction of agonist and antagonist muscles, which can cause torsion, repetitive abnormal involuntary movements, and/or abnormal postures. One special group of dystonias are those known as occupational, which include dystonia disorders triggered by a repetitive motor activity associated with a specific professional activity or task. Musicians are a population particularly vulnerable to these types of dystonia, which are presented as a loss of coordination and voluntary motor control movements highly trained in musical interpretation. Our aim is to describe a clinical series of focal dystonias in musicians evaluated and treated in our centre. Data is presented on a clinical series of 12 musicians with occupational dystonia. Their history and phenomenology are described, as well as well as their outcome after therapy. Demographic details: Mean age 34.8 ± 11.8 years, 10 males (83.3%) and 2 females (16.7%). History of trauma in dystonic segment, 6 patients (50%); family history of neurological diseases in first-degree relatives, 6 patients (50%); occupational history according to music category, 8 patients (66.6%) were classical musicians and 4 patients (33.3%) were popular musicians. The dystonia syndrome was characterised by having a mean age of onset of 28.2 ± 11.3 years (range 18-57 years). The segment affected was the hand (91.7%) in 11 patients. Of all the musicians seen in the clinic, 9 of them (75%) received therapy. The majority of patients appeared to have triggering factors specific to musical execution and linked to the requirement of fine motor control. It should be mentioned that 50% of the musicians treated maintained their professional activity or position in the orchestra to which they belonged. The majority of our phenomenological findings are consistent with those reported in the current literature. However, it is worth mentioning the presence of triggering factors attributed to the

Functional connectivity of the dorsal striatum in female musicians

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Shoji eTanaka

2016-04-01

Full Text Available The dorsal striatum (caudate/putamen is a node of the cortico-striato-pallido-thalamo-cortical (CSPTC motor circuit, which plays a central role in skilled motor learning, a critical feature of musical performance. The dorsal striatum receives input from a large part of the cerebral cortex, forming a hub in the cortical-subcortical network. This study sought to examine how the functional network of the dorsal striatum differs between musicians and nonmusicians.Resting state functional magnetic resonance imaging (fMRI data were acquired from female university students majoring in music and nonmusic disciplines. The data were subjected to graph theoretical analysis and functional connectivity analysis. The graph theoretical analysis of the entire brain revealed that the degree, which represents the number of connections, of the bilateral putamen was significantly lower in musicians than in nonmusicians. The functional connectivity analysis indicated that compared with nonmusicians, musicians had significantly decreased connectivity between the left putamen and bilateral frontal operculum and between the left caudate nucleus and cerebellum. In conclusion, compared with nonmusicians, female musicians have a smaller functional network of the dorsal striatum, with decreased connectivity. These data are consistent with previous anatomical studies reporting a reduced volume of the dorsal striatum in musicians and ballet dancers. To the best of our knowledge, this is the first study suggesting that long-term musical training results in a less extensive or selective functional network of the dorsal striatum.

Basic timing abilities stay intact in patients with musician's dystonia.

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M C van der Steen

Full Text Available Task-specific focal dystonia is a movement disorder that is characterized by the loss of voluntary motor control in extensively trained movements. Musician's dystonia is a type of task-specific dystonia that is elicited in professional musicians during instrumental playing. The disorder has been associated with deficits in timing. In order to test the hypothesis that basic timing abilities are affected by musician's dystonia, we investigated a group of patients (N = 15 and a matched control group (N = 15 on a battery of sensory and sensorimotor synchronization tasks. Results did not show any deficits in auditory-motor processing for patients relative to controls. Both groups benefited from a pacing sequence that adapted to their timing (in a sensorimotor synchronization task at a stable tempo. In a purely perceptual task, both groups were able to detect a misaligned metronome when it was late rather than early relative to a musical beat. Overall, the results suggest that basic timing abilities stay intact in patients with musician's dystonia. This supports the idea that musician's dystonia is a highly task-specific movement disorder in which patients are mostly impaired in tasks closely related to the demands of actually playing their instrument.

Basic Timing Abilities Stay Intact in Patients with Musician's Dystonia

Science.gov (United States)

van der Steen, M. C.; van Vugt, Floris T.; Keller, Peter E.; Altenmüller, Eckart

2014-01-01

Task-specific focal dystonia is a movement disorder that is characterized by the loss of voluntary motor control in extensively trained movements. Musician's dystonia is a type of task-specific dystonia that is elicited in professional musicians during instrumental playing. The disorder has been associated with deficits in timing. In order to test the hypothesis that basic timing abilities are affected by musician's dystonia, we investigated a group of patients (N = 15) and a matched control group (N = 15) on a battery of sensory and sensorimotor synchronization tasks. Results did not show any deficits in auditory-motor processing for patients relative to controls. Both groups benefited from a pacing sequence that adapted to their timing (in a sensorimotor synchronization task at a stable tempo). In a purely perceptual task, both groups were able to detect a misaligned metronome when it was late rather than early relative to a musical beat. Overall, the results suggest that basic timing abilities stay intact in patients with musician's dystonia. This supports the idea that musician's dystonia is a highly task-specific movement disorder in which patients are mostly impaired in tasks closely related to the demands of actually playing their instrument. PMID:24667273

Musicians Reaching out to People with Dementia : Perspectives of Learning

NARCIS (Netherlands)

Smilde, Rineke; Herzberg, H.; Kammler, E.

2011-01-01

Article on the emergence of the community musician in particular the project Music for Life of Wigmore Hall in London is described. The biographical learning and the learning processes are examined in detail and examples of the interactions between musicians and people with dementia are given as

Music performance anxiety in young musicians: comparison of playing classical or popular music.

Science.gov (United States)

Nusseck, Manfred; Zander, Mark; Spahn, Claudia

2015-03-01

Music performance anxiety (MPA) is an issue frequently experienced by musicians. It occurs not only in experienced musicians but also in children and adolescents. Furthermore, most research on MPA has been done with musicians who specialized in classical music. This study investigated the development of MPA across the ages in young musicians focusing on the classical and popular genres. In a cross-sectional survey, 239 students at German music schools, aged between 7 and 20 yrs, were asked about their perceived MPA and musical background. The data were analyzed according to musical genre and age. Multiple regression analyses were performed to investigate the influences of musical experiences on MPA. The analyses yielded high levels of MPA for classical musicians between 7 and 16 yrs, which was reduced in older students; for popular musicians, low MPA was seen in the younger (7-11 yrs) and high MPA in the older (16+ yrs) musicians. MPA was influenced by gender and the number of performances in the classical music group and only by gender and age in the popular music group. The results showed clear different trends for the development of MPA between musical genres that should be taken into account for educational aspects in musical training.

Error management for musicians: an interdisciplinary conceptual framework.

Science.gov (United States)

Kruse-Weber, Silke; Parncutt, Richard

2014-01-01

Musicians tend to strive for flawless performance and perfection, avoiding errors at all costs. Dealing with errors while practicing or performing is often frustrating and can lead to anger and despair, which can explain musicians' generally negative attitude toward errors and the tendency to aim for flawless learning in instrumental music education. But even the best performances are rarely error-free, and research in general pedagogy and psychology has shown that errors provide useful information for the learning process. Research in instrumental pedagogy is still neglecting error issues; the benefits of risk management (before the error) and error management (during and after the error) are still underestimated. It follows that dealing with errors is a key aspect of music practice at home, teaching, and performance in public. And yet, to be innovative, or to make their performance extraordinary, musicians need to risk errors. Currently, most music students only acquire the ability to manage errors implicitly - or not at all. A more constructive, creative, and differentiated culture of errors would balance error tolerance and risk-taking against error prevention in ways that enhance music practice and music performance. The teaching environment should lay the foundation for the development of such an approach. In this contribution, we survey recent research in aviation, medicine, economics, psychology, and interdisciplinary decision theory that has demonstrated that specific error-management training can promote metacognitive skills that lead to better adaptive transfer and better performance skills. We summarize how this research can be applied to music, and survey-relevant research that is specifically tailored to the needs of musicians, including generic guidelines for risk and error management in music teaching and performance. On this basis, we develop a conceptual framework for risk management that can provide orientation for further music education and

Auditory Profiles of Classical, Jazz, and Rock Musicians: Genre-Specific Sensitivity to Musical Sound Features.

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Tervaniemi, Mari; Janhunen, Lauri; Kruck, Stefanie; Putkinen, Vesa; Huotilainen, Minna

2015-01-01

When compared with individuals without explicit training in music, adult musicians have facilitated neural functions in several modalities. They also display structural changes in various brain areas, these changes corresponding to the intensity and duration of their musical training. Previous studies have focused on investigating musicians with training in Western classical music. However, musicians involved in different musical genres may display highly differentiated auditory profiles according to the demands set by their genre, i.e., varying importance of different musical sound features. This hypothesis was tested in a novel melody paradigm including deviants in tuning, timbre, rhythm, melody transpositions, and melody contour. Using this paradigm while the participants were watching a silent video and instructed to ignore the sounds, we compared classical, jazz, and rock musicians' and non-musicians' accuracy of neural encoding of the melody. In all groups of participants, all deviants elicited an MMN response, which is a cortical index of deviance discrimination. The strength of the MMN and the subsequent attentional P3a responses reflected the importance of various sound features in each music genre: these automatic brain responses were selectively enhanced to deviants in tuning (classical musicians), timing (classical and jazz musicians), transposition (jazz musicians), and melody contour (jazz and rock musicians). Taken together, these results indicate that musicians with different training history have highly specialized cortical reactivity to sounds which violate the neural template for melody content.

Sound Practice– Improving occupational health and safety for professional orchestral musicians in Australia

Directory of Open Access Journals (Sweden)

Bronwen Jane Ackermann

2014-09-01

Full Text Available The Sound Practice Project is a five-year study involving baseline evaluation, development and implementation of musician-specific work health and safety initiatives. A cross-sectional population physical and psychological survey and physical assessment were conducted at the same time, with an auditory health assessment conducted later. The results were used to guide the development of a series of targeted interventions, encompassing physical, psychological and auditory health components. This paper provides an overview of the project but focuses on the health findings arising from the cross-sectional survey.377 musicians from the eight professional symphony orchestras in Australia took part in the cross-sectional study (about 70% of eligible musicians. Eighty-four percent (84% of musicians reported past performance-related musculoskeletal disorder (PRMD episodes; 50% were suffering a current PRMD. Of the 63% who returned hearing surveys, 43% believed they had hearing loss, and 64% used earplugs at least intermittently. Noise exposure was found to be high in private practice, although awareness of risk and earplug use in this environment was lower than in orchestral settings. Improved strategic approaches, acoustic screens and recently developed active earplugs were found to provide effective new options for hearing protection. With respect to psychosocial screening, female musicians reported significantly more trait anxiety, music performance anxiety, social anxiety, and other forms of anxiety and depression than male musicians. The youngest musicians were significantly more anxious compared with the oldest musicians. Thirty-three percent (33% of musicians may meet criteria for a diagnosis of social phobia; 32% returned a positive depression screen and 22% for post-traumatic stress disorder. PRMDs and trigger point discomfort levels were strongly associated with increasing severity of psychological issues such as depression and music

Backtesting Portfolio Value-at-Risk with Estimated Portfolio Weights

OpenAIRE

Pei Pei

2010-01-01

This paper theoretically and empirically analyzes backtesting portfolio VaR with estimation risk in an intrinsically multivariate framework. For the first time in the literature, it takes into account the estimation of portfolio weights in forecasting portfolio VaR and its impact on backtesting. It shows that the estimation risk from estimating the portfolio weights as well as that from estimating the multivariate dynamic model of asset returns make the existing methods in a univariate framew...

Neurosyphilis in Anglo-American Composers and Jazz Musicians.

Science.gov (United States)

Breitenfeld, Darko; Kust, Davor; Breitenfeld, Tomislav; Prpić, Marin; Lucijanić, Marko; Zibar, Davor; Hostić, Vedran; Franceschi, Maja; Bolanča, Ante

2017-09-01

Syphilis is a sexually transmitted, systemic disease caused by the spirochete bacterium Treponema pallidum. The most common mechanism of transmission is sexual intercourse. Although there are several hypotheses, the exact origin of the disease remains unknown. Newly published evidence suggests that the hypothesis supporting the theory of the American origin of the disease is the valid one. Among 1500 analyzed pathographies of composers and musicians, data on ten Anglo-American composers and jazz musicians having suffered from neurosyphilis (tertiary stage of the disease) were extracted for this report. In this group of Anglo-American composers and musicians, most of them died from progressive paralysis while still in the creative phase of life. Additionally, diagnoses of eleven other famous neurosyphilitic composers, as well as basic biographic data on ten less known composers that died from neurosyphilis-progressive paralysis are also briefly mentioned. In conclusion, neurosyphilis can cause serious neurological damage, as well as permanent disability or death, preventing further work and skill improvement.

Musical Expectations Enhance Auditory Cortical Processing in Musicians: A Magnetoencephalography Study.

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Park, Jeong Mi; Chung, Chun Kee; Kim, June Sic; Lee, Kyung Myun; Seol, Jaeho; Yi, Suk Won

2018-01-15

The present study investigated the influence of musical expectations on auditory representations in musicians and non-musicians using magnetoencephalography (MEG). Neuroscientific studies have demonstrated that musical syntax is processed in the inferior frontal gyri, eliciting an early right anterior negativity (ERAN), and anatomical evidence has shown that interconnections occur between the frontal cortex and the belt and parabelt regions in the auditory cortex (AC). Therefore, we anticipated that musical expectations would mediate neural activities in the AC via an efferent pathway. To test this hypothesis, we measured the auditory-evoked fields (AEFs) of seven musicians and seven non-musicians while they were listening to a five-chord progression in which the expectancy of the third chord was manipulated (highly expected, less expected, and unexpected). The results revealed that highly expected chords elicited shorter N1m (negative AEF at approximately 100 ms) and P2m (positive AEF at approximately 200 ms) latencies and larger P2m amplitudes in the AC than less-expected and unexpected chords. The relations between P2m amplitudes/latencies and harmonic expectations were similar between the groups; however, musicians' results were more remarkable than those of non-musicians. These findings suggest that auditory cortical processing is enhanced by musical knowledge and long-term training in a top-down manner, which is reflected in shortened N1m and P2m latencies and enhanced P2m amplitudes in the AC. Copyright © 2017 IBRO. Published by Elsevier Ltd. All rights reserved.

Statistical learning of multisensory regularities is enhanced in musicians: An MEG study.

Science.gov (United States)

Paraskevopoulos, Evangelos; Chalas, Nikolas; Kartsidis, Panagiotis; Wollbrink, Andreas; Bamidis, Panagiotis

2018-07-15

The present study used magnetoencephalography (MEG) to identify the neural correlates of audiovisual statistical learning, while disentangling the differential contributions of uni- and multi-modal statistical mismatch responses in humans. The applied paradigm was based on a combination of a statistical learning paradigm and a multisensory oddball one, combining an audiovisual, an auditory and a visual stimulation stream, along with the corresponding deviances. Plasticity effects due to musical expertise were investigated by comparing the behavioral and MEG responses of musicians to non-musicians. The behavioral results indicated that the learning was successful for both musicians and non-musicians. The unimodal MEG responses are consistent with previous studies, revealing the contribution of Heschl's gyrus for the identification of auditory statistical mismatches and the contribution of medial temporal and visual association areas for the visual modality. The cortical network underlying audiovisual statistical learning was found to be partly common and partly distinct from the corresponding unimodal networks, comprising right temporal and left inferior frontal sources. Musicians showed enhanced activation in superior temporal and superior frontal gyrus. Connectivity and information processing flow amongst the sources comprising the cortical network of audiovisual statistical learning, as estimated by transfer entropy, was reorganized in musicians, indicating enhanced top-down processing. This neuroplastic effect showed a cross-modal stability between the auditory and audiovisual modalities. Copyright © 2018 Elsevier Inc. All rights reserved.

Neuroarchitecture of verbal and tonal working memory in nonmusicians and musicians.

Science.gov (United States)

Schulze, Katrin; Zysset, Stefan; Mueller, Karsten; Friederici, Angela D; Koelsch, Stefan

2011-05-01

Working memory (WM) for auditory information has been thought of as a unitary system, but whether WM for verbal and tonal information relies on the same or different functional neuroarchitectures has remained unknown. This fMRI study examines verbal and tonal WM in both nonmusicians (who are trained in speech, but not in music) and highly trained musicians (who are trained in both domains). The data show that core structures of WM are involved in both tonal and verbal WM (Broca's area, premotor cortex, pre-SMA/SMA, left insular cortex, inferior parietal lobe), although with significantly different structural weightings, in both nonmusicians and musicians. Additionally, musicians activated specific subcomponents only during verbal (right insular cortex) or only during tonal WM (right globus pallidus, right caudate nucleus, and left cerebellum). These results reveal the existence of two WM systems in musicians: A phonological loop supporting rehearsal of phonological information, and a tonal loop supporting rehearsal of tonal information. Differences between groups for tonal WM, and between verbal and tonal WM within musicians, were mainly related to structures involved in controlling, programming and planning of actions, thus presumably reflecting differences in action-related sensorimotor coding of verbal and tonal information. Copyright © 2010 Wiley-Liss, Inc.

The sound of music: Differentiating musicians using a fast, musical multi-feature mismatch negativity paradigm

DEFF Research Database (Denmark)

Vuust, Peter; Brattico, Elvira; Seppänen, Miia

2012-01-01

to the other deviants in jazz musicians and left lateralization of the MMN to timbre in classical musicians. These findings indicate that the characteristics of the style/genre of music played by musicians influence their perceptual skills and the brain processing of sound features embedded in a musical......Musicians' skills in auditory processing depend highly on instrument, performance practice, and on level of expertise. Yet, it is not known though whether the style/genre of music might shape auditory processing in the brains of musicians. Here, we aimed at tackling the role of musical style....../genre on modulating neural and behavioral responses to changes in musical features. Using a novel, fast and musical sounding multi-feature paradigm, we measured the mismatch negativity (MMN), a pre-attentive brain response, to six types of musical feature change in musicians playing three distinct styles of music...

Artes y Humanidades/Economia del Hogar. Libro del Profesor. (Arts & Humanities/Homemaking. Teacher's Guide). B1. CHOICE (Challenging Options in Career Education).

Science.gov (United States)

Mid-Hudson Migrant Education Center, New Paltz, NY.

Written in Spanish, the guide comprises the kindergarten level unit of a career education curriculum designed for migrant students. The unit focuses on 11 jobs encompassed by two occupational clusters, arts/humanities and homemaking: teacher, artist, musician, dancer, actor, puppeteer, tailor, janitor, housekeeper, waiter, and child care worker.…

Factors Affecting Healthful Eating Among Touring Popular Musicians and Singers.

Science.gov (United States)

Cizek, Erin; Kelly, Patrick; Kress, Kathleen; Mattfeldt-Beman, Mildred

2016-06-01

Maintaining good health is essential for touring musicians and singers. The stressful demands of touring may impact food choices, leading to detrimental effects on health and performance. This exploratory pilot study aimed to assess factors affecting healthful eating of touring musicians and singers. A 46-item survey was used to assess food- and nutrition-related attitudes, knowledge and behaviors, and environmental factors, as well as lifestyle, musical background, and demographic data. Participants (n=35) were recruited from a musicians' assistance foundation as well as touring musical theater productions and a music festival. Results indicate that touring musicians and singers had positive attitudes regarding healthful foods. Of 35 respondents, 80.0% indicated eating healthful food was important to them. Respondents reported feeling confident selecting (76.5%) and preparing (82.4%) healthful foods; however, they showed uncertainty when determining if carbohydrate-containing foods should be consumed or avoided. Respondents indicated environmental factors including availability and cost of healthy food options and tour schedules limited access to healthful foods. Venues (73.5%), fast food restaurants (67.6%), and airports (64.7%) were the most frequently identified locations in need of offering more healthful food choices. Respondents (52.9%) indicated more support from others while touring would help them make healthier food choices. More research is needed to develop mobile wellness programs as well as performance-based nutrition guidelines for musicians and singers that address the unique demands associated with touring.

Temporal processing of audiovisual stimuli is enhanced in musicians: evidence from magnetoencephalography (MEG.

Directory of Open Access Journals (Sweden)

Yao Lu

Full Text Available Numerous studies have demonstrated that the structural and functional differences between professional musicians and non-musicians are not only found within a single modality, but also with regard to multisensory integration. In this study we have combined psychophysical with neurophysiological measurements investigating the processing of non-musical, synchronous or various levels of asynchronous audiovisual events. We hypothesize that long-term multisensory experience alters temporal audiovisual processing already at a non-musical stage. Behaviorally, musicians scored significantly better than non-musicians in judging whether the auditory and visual stimuli were synchronous or asynchronous. At the neural level, the statistical analysis for the audiovisual asynchronous response revealed three clusters of activations including the ACC and the SFG and two bilaterally located activations in IFG and STG in both groups. Musicians, in comparison to the non-musicians, responded to synchronous audiovisual events with enhanced neuronal activity in a broad left posterior temporal region that covers the STG, the insula and the Postcentral Gyrus. Musicians also showed significantly greater activation in the left Cerebellum, when confronted with an audiovisual asynchrony. Taken together, our MEG results form a strong indication that long-term musical training alters the basic audiovisual temporal processing already in an early stage (direct after the auditory N1 wave, while the psychophysical results indicate that musical training may also provide behavioral benefits in the accuracy of the estimates regarding the timing of audiovisual events.

Temporal processing of audiovisual stimuli is enhanced in musicians: evidence from magnetoencephalography (MEG).

Science.gov (United States)

Lu, Yao; Paraskevopoulos, Evangelos; Herholz, Sibylle C; Kuchenbuch, Anja; Pantev, Christo

2014-01-01

Numerous studies have demonstrated that the structural and functional differences between professional musicians and non-musicians are not only found within a single modality, but also with regard to multisensory integration. In this study we have combined psychophysical with neurophysiological measurements investigating the processing of non-musical, synchronous or various levels of asynchronous audiovisual events. We hypothesize that long-term multisensory experience alters temporal audiovisual processing already at a non-musical stage. Behaviorally, musicians scored significantly better than non-musicians in judging whether the auditory and visual stimuli were synchronous or asynchronous. At the neural level, the statistical analysis for the audiovisual asynchronous response revealed three clusters of activations including the ACC and the SFG and two bilaterally located activations in IFG and STG in both groups. Musicians, in comparison to the non-musicians, responded to synchronous audiovisual events with enhanced neuronal activity in a broad left posterior temporal region that covers the STG, the insula and the Postcentral Gyrus. Musicians also showed significantly greater activation in the left Cerebellum, when confronted with an audiovisual asynchrony. Taken together, our MEG results form a strong indication that long-term musical training alters the basic audiovisual temporal processing already in an early stage (direct after the auditory N1 wave), while the psychophysical results indicate that musical training may also provide behavioral benefits in the accuracy of the estimates regarding the timing of audiovisual events.

Musicians have better memory than nonmusicians: A meta-analysis

OpenAIRE

Talamini, Francesca; Altoè, Gianmarco; Carretti, Barbara; Grassi, Massimo

2017-01-01

Background Several studies have found that musicians perform better than nonmusicians in memory tasks, but this is not always the case, and the strength of this apparent advantage is unknown. Here, we conducted a meta-analysis with the aim of clarifying whether musicians perform better than nonmusicians in memory tasks. Methods Education Source; PEP (WEB)—Psychoanalytic Electronic Publishing; Psychology and Behavioral Science (EBSCO); PsycINFO (Ovid); PubMed; ScienceDirect—AllBooks Content (E...

Tourette's syndrome in famous musicians

Directory of Open Access Journals (Sweden)

Carlos Henrique F. Camargo

2015-01-01

Full Text Available Tourette's syndrome (TS is defined as a disorder characterized by multiple motor tics and at least one vocal tic that have lasted for not less than one year. It is a relatively complex neurobehavioral disorder, in which patients may present with coexistent attention deficit hyperactivity disorder, obsessive-compulsive disorder or other behavioral comorbidities. The musical genius Wolfgang Amadeus Mozart (1756-1791 and the rock star Kurt Cobain (1967-1994 may both have suffered from TS, and some contemporary musicians have had their clinical condition confirmed as TS. Our hypothetical diagnosis of TS in Mozart and Cobain is based on the presence of tics and psychiatric comorbidities. In contemporary musicians, such as Michael Wolff, Nick Van Bloss and James Durbin, TS has often only been diagnosed after a considerable delay. This delay in diagnosis and the controversies surrounding the clinical case of Mozart show how difficult a confirmatory diagnosis of this complex disease is.

Expanding a Learner-Centered Environment Using Group Reports and Constructivist Portfolios

Directory of Open Access Journals (Sweden)

Rosa J. Buxeda

2009-12-01

Full Text Available A study was performed in the Microbial Physiology course to increase students’ self-awareness of their misconceptions, promote sound research techniques, develop written and oral communication skills, stimulate metacognition, and improve teamwork and interpersonal relationship skills. The transformation in the teaching methodology included using cooperative learning, field trips, and portfolios that targeted diverse learning styles to challenge students in creative ways and to help prepare them for future careers. The entire structure of the class was modified by introducing in-class portfolios to form a constructivist environment in which the discussion and lecture topic of the day were built on prior student knowledge. Based on evaluations, students were very pleased with the new teaching and learning process and learned more content than in the more traditional class. They also felt better able to reflect on their learning.

Customer portfolios

DEFF Research Database (Denmark)

Clarke, Ann Højbjerg; Freytag, Per Vagn; Zolkiewski, Judith

2017-01-01

gives managers a tool to help to cope with the dynamic aspects of the customer portfolio. Recognition of the importance of communication to the process, the development of trust and the role of legitimacy also provides areas that managers can focus upon in their relationship management processes......Purpose The purpose of this paper is to extend the discussion about customer portfolios beyond simple identification of models and how they can be used for balanced resource allocation to a discussion about how portfolios should take into account views from relationship partners and how they should...... that helps improve the understanding of how customer portfolio models can actually be applied from a relational perspective. Findings The key aspects of the conceptual framework relate to how alignment of the relationships in the portfolio is achieved. Critical to this are the interaction spaces...

Left-hemisphere activation is associated with enhanced vocal pitch error detection in musicians with absolute pitch

Science.gov (United States)

Behroozmand, Roozbeh; Ibrahim, Nadine; Korzyukov, Oleg; Robin, Donald A.; Larson, Charles R.

2014-01-01

The ability to process auditory feedback for vocal pitch control is crucial during speaking and singing. Previous studies have suggested that musicians with absolute pitch (AP) develop specialized left-hemisphere mechanisms for pitch processing. The present study adopted an auditory feedback pitch perturbation paradigm combined with ERP recordings to test the hypothesis whether the neural mechanisms of the left-hemisphere enhance vocal pitch error detection and control in AP musicians compared with relative pitch (RP) musicians and non-musicians (NM). Results showed a stronger N1 response to pitch-shifted voice feedback in the right-hemisphere for both AP and RP musicians compared with the NM group. However, the left-hemisphere P2 component activation was greater in AP and RP musicians compared with NMs and also for the AP compared with RP musicians. The NM group was slower in generating compensatory vocal reactions to feedback pitch perturbation compared with musicians, and they failed to re-adjust their vocal pitch after the feedback perturbation was removed. These findings suggest that in the earlier stages of cortical neural processing, the right hemisphere is more active in musicians for detecting pitch changes in voice feedback. In the later stages, the left-hemisphere is more active during the processing of auditory feedback for vocal motor control and seems to involve specialized mechanisms that facilitate pitch processing in the AP compared with RP musicians. These findings indicate that the left hemisphere mechanisms of AP ability are associated with improved auditory feedback pitch processing during vocal pitch control in tasks such as speaking or singing. PMID:24355545

77 FR 55903 - Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship...

Science.gov (United States)

2012-09-11

... Vol. 77 Tuesday, No. 176 September 11, 2012 Part II Commodity Futures Trading Commission 17 CFR Part 23 Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship... FUTURES TRADING COMMISSION 17 CFR Part 23 RIN 3038-AC96 Confirmation, Portfolio Reconciliation, Portfolio...

Assessment of hearing and hearing disorders in rock/jazz musicians.

Science.gov (United States)

Kähärit, Kim; Zachau, Gunilla; Eklöf, Mats; Sandsjö, Leif; Möller, Claes

2003-07-01

The aim of this study was to assess hearing and hearing disorders among rock/jazz musicians. One hundred and thirty-nine (43 women and 96 men) musicians participated. The results are based on pure-tone audiometry and questionnaire responses. According to our definition of hearing loss, tinnitus, hyperacusis, distortion and/or diplacusis as hearing disorders, we found disorders in 74%, of the rock/jazz musicians studied. Hearing loss, tinnitus and hyperacusis were most common, and the latter two were found significantly more frequently than in different reference populations. The women showed bilateral, significantly better hearing thresholds at 3-6 kHz than the men. Hyperacusis, and the combination of both hyperacusis and tinnitus, were found to be significantly more frequent among women than among men. Hearing loss and tinnitus were significantly more common among men than among women. It is important to evaluate all kinds of hearing problems (other than hearing loss) in musicians, since they represent an occupational group especially dependent on optimal, functional hearing. On the basis of our results, we suggest that hearing problems such as tinnitus, hyperacusis, distortion and/or diplacusis should, in addition to hearing loss, be defined as hearing disorders.

Sound experiences: the vision of experimental musician on the folkloric music in modern society

Directory of Open Access Journals (Sweden)

Rieko Tanaka

2016-11-01

Full Text Available This work begins narrating how folk music has always been a remnant in the influence on classical composers. It makes special mention of origin Hungarian musicians Bela Bartok, Zoltan Kodaly. This Musicians are considerate in this work as the most immediate ancestors of an experimental musicians northamericans, because both are influenced by their passion for folk music. We select as musicians principals exponents of American experimental music to John Cage, Lou Harrison and Carl Ruggles. Their works will be considered and analyzed in this text as the sounds as the experiences. Composers that will analyze the sound as experience, as feeling, as emotion, as time and origin. related traits in folk music and experimental music. Not forgetting in this work, and in his final considerations, the relationship between the musician, creation, society and art.

Risk modelling in portfolio optimization

Science.gov (United States)

Lam, W. H.; Jaaman, Saiful Hafizah Hj.; Isa, Zaidi

2013-09-01

Risk management is very important in portfolio optimization. The mean-variance model has been used in portfolio optimization to minimize the investment risk. The objective of the mean-variance model is to minimize the portfolio risk and achieve the target rate of return. Variance is used as risk measure in the mean-variance model. The purpose of this study is to compare the portfolio composition as well as performance between the optimal portfolio of mean-variance model and equally weighted portfolio. Equally weighted portfolio means the proportions that are invested in each asset are equal. The results show that the portfolio composition of the mean-variance optimal portfolio and equally weighted portfolio are different. Besides that, the mean-variance optimal portfolio gives better performance because it gives higher performance ratio than the equally weighted portfolio.

Lifelong learning for professional musicians

NARCIS (Netherlands)

Smilde, Rineke; McPherson, G.; Welsh, G.

2012-01-01

In order to meet the challenges of rapidly changing cultural life in the 21st century, professional musicians have to be lifelong learners, drawing on a wide range of knowledge and skills. To be successful in a variety of roles, they need a reflective and responsive attitude to change. This chapter

Hearing of note: an electrophysiologic and psychoacoustic comparison of pitch discrimination between vocal and instrumental musicians.

Science.gov (United States)

Nikjeh, Dee A; Lister, Jennifer J; Frisch, Stefan A

2008-11-01

Cortical auditory evoked potentials of instrumental musicians suggest that music expertise modifies pitch processing, yet less is known about vocal musicians. Mismatch negativity (MMN) to pitch deviances and difference limen for frequency (DLF) were examined among 61 young adult women, including 20 vocalists, 21 instrumentalists, and 20 nonmusicians. Stimuli were harmonic tone complexes from the mid-female vocal range (C4-G4). MMN was elicited by multideviant paradigm. DLF was obtained by an adaptive psychophysical paradigm. Musicians detected pitch changes earlier and DLFs were 50% smaller than nonmusicians. Both vocal and instrumental musicians possess superior sensory-memory representations for acoustic parameters. Vocal musicians with instrumental training appear to have an auditory neural advantage over instrumental or vocal only musicians. An incidental finding reveals P3a as a sensitive index of music expertise.

Application of Markowitz Portfolio Theory by Building Optimal Portfolio on the US Stock Market

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Martin Širůček

2015-01-01

Full Text Available This paper is focused on building investment portfolios by using the Markowitz Portfolio Theory (MPT. Derivation based on the Capital Asset Pricing Model (CAPM is used to calculate the weights of individual securities in portfolios. The calculated portfolios include a portfolio copying the benchmark made using the CAPM model, portfolio with low and high beta coefficients, and a random portfolio. Only stocks were selected for the examined sample from all the asset classes. Stocks in each portfolio are put together according to predefined criteria. All stocks were selected from Dow Jones Industrial Average (DJIA index which serves as a benchmark, too. Portfolios were compared based on their risk and return profiles. The results of this work will provide general recommendations on the optimal approach to choose securities for an investor’s portfolio.

Optimization of China's generating portfolio and policy implications based on portfolio theory

International Nuclear Information System (INIS)

Zhu, Lei; Fan, Ying

2010-01-01

This paper applies portfolio theory to evaluate China's 2020-medium-term plans for generating technologies and its generating portfolio. With reference to the risk of relevant generating-cost streams, the paper discusses China's future development of efficient (Pareto optimal) generating portfolios that enhance energy security in different scenarios, including CO 2 -emission-constrained scenarios. This research has found that the future adjustment of China's planned 2020 generating portfolio can reduce the portfolio's cost risk through appropriate diversification of generating technologies, but a price will be paid in the form of increased generating cost. In the CO 2 -emission-constrained scenarios, the generating-cost risk of China's planned 2020 portfolio is even greater than that of the 2005 portfolio, but increasing the proportion of nuclear power in the generating portfolio can reduce the cost risk effectively. For renewable-power generation, because of relatively high generating costs, it will be necessary to obtain stronger policy support to promote renewable-power development.

Auditory profiles of classical, jazz, and rock musicians: Genre-specific sensitivity to musical sound features

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Mari eTervaniemi

2016-01-01

Full Text Available When compared with individuals without explicit training in music, adult musicians have facilitated neural functions in several modalities. They also display structural changes in various brain areas, these changes corresponding to the intensity and duration of their musical training. Previous studies have focused on investigating musicians with training in Western classical music. However, musicians involved in different musical genres may display highly differentiated auditory profiles according to the demands set by their genre, i.e. varying importance of different musical sound features. This hypothesis was tested in a novel melody paradigm including deviants in tuning, timbre, rhythm, melody transpositions, and melody contour. Using this paradigm while the participants were watching a silent video and instructed to ignore the sounds, we compared classical, jazz, and rock musicians’ and non-musicians’ accuracy of neural encoding of the melody. In all groups of participants, all deviants elicited an MMN response, which is a cortical index of deviance discrimination. The strength of the MMN and the subsequent attentional P3a responses reflected the importance of various sound features in each music genre: these automatic brain responses were selectively enhanced to deviants in tuning (classical musicians, timing (classical and jazz musicians, transposition (jazz musicians, and melody contour (jazz and rock musicians. Taken together, these results indicate that musicians with different training history have highly specialized cortical reactivity to sounds which violate the neural template for melody content.

In Their Own Words: Interviews with Musicians Reveal the Advantages and Disadvantages of Wearing Earplugs.

Science.gov (United States)

Beach, Elizabeth F; O'Brien, Ian

2017-06-01

Musicians are at risk of hearing loss from sound exposure, and earplugs form part of many musicians' hearing conservation practices. Although musicians typically report a range of difficulties when wearing earplugs, there are many who have managed to successfully incorporate earplugs into their practice of music. The study aim was to provide a detailed account of earplug usage from the perspective of the musician, including motivating factors, practical strategies, and attitudes. In-depth interviews with 23 musicians were transcribed and content analysis was performed. Responses were coded and classified into three main themes: advantages, disadvantages, and usage patterns and strategies, together with an overlapping fourth theme, youth perspectives. Several positive aspects of wearing earplugs were identified, including long-term hearing protection and reduced levels of fatigue and pain. Musicians reported that earplugs present few problems for communication, improve sound clarity in ensembles, are discreet, and are easy to handle. However, earplugs also present challenges, including an overall dullness of sound, reduced immediacy, and an impaired ability to judge balance and intonation due to the occlusion effect, all of which influence usage habits and patterns. The experiences of the younger musicians and long-term users of earplugs indicate that practice, persistence, and a flexible approach are required for successful earplug usage. In time, there may be greater acceptance of earplugs, particularly amongst a new generation of musicians, some of whom regard the earplugs as a performance enhancement tool as well as a protective device.

The Alexander Technique and musicians: a systematic review of controlled trials.

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Klein, Sabine D; Bayard, Claudine; Wolf, Ursula

2014-10-24

Musculoskeletal disorders, stress and performance anxiety are common in musicians. Therefore, some use the Alexander Technique (AT), a psycho-physical method that helps to release unnecessary muscle tension and re-educates non-beneficial movement patterns through intentional inhibition of unwanted habitual behaviours. According to a recent review AT sessions may be effective for chronic back pain. This review aimed to evaluate the evidence for the effectiveness of AT sessions on musicians' performance, anxiety, respiratory function and posture. The following electronic databases were searched up to February 2014 for relevant publications: PUBMED, Google Scholar, CINAHL, EMBASE, AMED, PsycINFO and RILM. The search criteria were "Alexander Technique" AND "music*". References were searched, and experts and societies of AT or musicians' medicine contacted for further publications. 237 citations were assessed. 12 studies were included for further analysis, 5 of which were randomised controlled trials (RCTs), 5 controlled but not randomised (CTs), and 2 mixed methods studies. Main outcome measures in RCTs and CTs were music performance, respiratory function, performance anxiety, body use and posture. Music performance was judged by external experts and found to be improved by AT in 1 of 3 RCTs; in 1 RCT comparing neurofeedback (NF) to AT, only NF caused improvements. Respiratory function was investigated in 2 RCTs, but not improved by AT training. Performance anxiety was mostly assessed by questionnaires and decreased by AT in 2 of 2 RCTs and in 2 of 2 CTs. A variety of outcome measures has been used to investigate the effectiveness of AT sessions in musicians. Evidence from RCTs and CTs suggests that AT sessions may improve performance anxiety in musicians. Effects on music performance, respiratory function and posture yet remain inconclusive. Future trials with well-established study designs are warranted to further and more reliably explore the potential of AT in the

An evaluation of musician earplugs with college music students.

Science.gov (United States)

Chesky, Kris; Pair, Marla; Yoshimura, Eri; Landford, Scott

2009-01-01

Musician earplugs are marketed and recommended for use in music settings but no studies have evaluated these products with musicians. This study evaluated the influences of earplugs on college students' perception and abilities to communicate in a musical environment, attitudes of earplugs, comfort over time, and the influence of earplugs on ability to play music. College students (N = 323) were provided with earplugs for use during and following an experimental condition designed to mimic a night club. Results underline the challenges of earplugs in environments that are both loud and require verbal interaction. Responses to comfort questions were variable and suggest a multi-factorial set of influences that may include intrinsic variables. Despite these limitations, subjects in this study generally liked the earplugs and believed that they are valuable. However, the earplugs were not viewed favorably by musicians willing to use the earplugs while playing music. This study supports the view that earplugs are subject to many problems and should be considered as a last resort.

Music education and musicians: Expectations, course and outcomes

Directory of Open Access Journals (Sweden)

Bogunović Blanka

2012-01-01

Full Text Available Considering the long-term talent development, from the moment of its recognition to the moment when an adult is confronted with the necessity of integration in the professional music and life streams, we wonder whether education satisfies the needs of talents and provides, in the long run, the necessary knowledge and skills. The aim of this research was to investigate: (1 the initial motivation for learning music and expectations from music education; (2 the course of development of young musicians (the degree of self-actualisation, developmental perspectives, evaluation of music education and (3 outcomes of music education and development of the professional career. The sample (N=487 consisted of five subsamples: music kindergarten pupils, students of primary music schools, students of secondary music schools, university students of music and teachers at music schools and universities. The paper analyses psychological, educational and professional aspects of education of musically gifted pupils and students, as well as music teachers in five successive age groups. The results indicate that with an increase in age there is a considerable increase in the variety and scope of expectations and a higher aspiration towards personal, educational and professional lifelong improvement, while, at the same time, there is a considerable decrease in the level of fulfilment of expectations and the level of assessment of self-actualisation. This is indicative of a continuously present feeling of “hidden underachievement” in the group of (relatively successful young musicians and professionals. Analysis of respondents’ answers points out to the existence of still traditional system of music education, which lacks flexibility and innovation and fails to provide a sufficient level of transferable knowledge and skills. The findings point out to a whole cluster of controversies demanding further reconsideration and (redesigning of the curriculum of (high

Prototype system to recommend appropriate amount of independent musicians who matched user's preference

OpenAIRE

Uetake, Tomofumi; Kiyohara, Seiya

2006-01-01

Recently we can easily get music information at home. Furthermore, by using ''independent music community site''on lnternet, we can easily get songs of independent musicians. However, it is very difficult for us to look for the musician who matched one's preference. Because there is a great deal of　number of the musicians, and a genre of a song is various. In this paper, We analyze the independent community music site in Japan and clarify the characteristics of the information about registere...

[Contribution to the study of laterality in professional musicians].

Science.gov (United States)

Chouard, C H

1991-01-01

Left-handed professional musicians percentage is not significantly different from normal population, excepted for piano, organ and harpsichord players. For these instruments the melody is always written for the right hand, probably because of the location of the frequencies which are the most easily perceived by the human ear on the right part of the keyboard. Thus for a lefthanded musician to play piano is comparable to write with his right hand, and as a consequence leads him to play an other instrument for his professional activity.

Psychosocial stressors in the lives of great jazz musicians.

Science.gov (United States)

Patalano, F

1997-02-01

Brief biographical information on four great jazz tenor saxophone players of the past is presented to illustrate the similar psychosocial stressors these men seemed to experience, namely, severe substance abuse, haphazard working conditions, lack of acceptance of their art form in the United States, marital and family discord, and a vagabond life style. Ages at death of 80 great jazz musicians may indicate that the stressful life style of jazz musicians may be reflected in a shortened life span, but a control group is needed.

Absolute Memory for Tempo in Musicians and Non-Musicians.

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Irene Gratton

Full Text Available The ability to remember tempo (the perceived frequency of musical pulse without external references may be defined, by analogy with the notion of absolute pitch, as absolute tempo (AT. Anecdotal reports and sparse empirical evidence suggest that at least some individuals possess AT. However, to our knowledge, no systematic assessments of AT have been performed using laboratory tasks comparable to those assessing absolute pitch. In the present study, we operationalize AT as the ability to identify and reproduce tempo in the absence of rhythmic or melodic frames of reference and assess these abilities in musically trained and untrained participants. We asked 15 musicians and 15 non-musicians to listen to a seven-step `tempo scale' of metronome beats, each associated to a numerical label, and then to perform two memory tasks. In the first task, participants heard one of the tempi and attempted to report the correct label (identification task, in the second, they saw one label and attempted to tap the correct tempo (production task. A musical and visual excerpt was presented between successive trials as a distractor to prevent participants from using previous tempi as anchors. Thus, participants needed to encode tempo information with the corresponding label, store the information, and recall it to give the response. We found that more than half were able to perform above chance in at least one of the tasks, and that musical training differentiated between participants in identification, but not in production. These results suggest that AT is relatively wide-spread, relatively independent of musical training in tempo production, but further refined by training in tempo identification. We propose that at least in production, the underlying motor representations are related to tactus, a basic internal rhythmic period that may provide a body-based reference for encoding tempo.

Forty lives in the bebop business: mental health in a group of eminent jazz musicians.

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Wills, Geoffrey I

2003-09-01

Above-average levels of psychopathology have been demonstrated convincingly in groups of outstanding individuals working in the arts. Currently, jazz musicians have not been studied in this regard. To investigate any evidence of psychopathology in a group of eminent jazz musicians. Biographical material relating to 40 eminent American modern jazz musicians was reviewed and an attempt was made to formulate diagnoses using DSM-IV. Evidence was provided of levels of psychopathology in the sample of jazz musicians similar to those found in other previously investigated creative groups, with the exception of substance related problems. An interesting connection between creativity and sensation-seeking was highlighted. The link between psychopathology and creativity in the arts was given further weight. Future studies of jazz musicians using larger samples and making comparison with groups from different eras of music would give greater clarification to this area.

The Impact of Transaction Costs on Rebalancing an Investment Portfolio in Portfolio Optimization

OpenAIRE

B. Marasović; S. Pivac; S. V. Vukasović

2015-01-01

Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the pr...

Exploring the thoughts and focus of attention of elite musicians under pressure

NARCIS (Netherlands)

Buma, L.A.; Bakker, F.C.; Oudejans, R.R.D.

2015-01-01

Although musicians often have to perform under high pressure, there is little systematic research into the foci of attention needed to maintain performance in such situations. In the current study, we asked elite musicians to report what they focus on and think about during moments of high pressure,

Application of Markowitz Portfolio Theory by Building Optimal Portfolio on the US Stock Market

OpenAIRE

Širůček, Martin; Křen, Lukáš

2015-01-01

ŠIRŮČEK MARTIN, KŘEN LUKÁŠ. 2015. Application of Markowitz Portfolio Theory by Building Optimal Portfolio on the US Stock Market. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 63(4): 1375–1386. This paper is focused on building investment portfolios by using the Markowitz Portfolio Theory (MPT). Derivation based on the Capital Asset Pricing Model (CAPM) is used to calculate the weights of individual securities in portfolios. The calculated portfolios include a po...

Comparison of Portfolio Selection and Performance: Shari’ah-Compliant and Socially Responsible Investment Portfolios

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Mehmet Asutay

2015-04-01

Full Text Available This study examines the effect of Islamic screening criteria on Shari’ah-compliant portfolio selection and performance compared to Socially Responsible Investment (SRI portfolio. Each portfolio constructed from 15 stocks based on FTSE 100 using data from year 1997. Mean-variance portfolio optimization is employed with some financial ratios added as constraints for the Shari’ah portfolio. Annual expected return of each portfolio from 2008 to 2013 is used to calculate Sharpe’s ratio, Treynor ratio and Jensen’s alpha as the performance measurement tools. Macroeconomic variables are assessed using ordinary least square to examine whether they influence the portfolios’ expected returns or not. The result finds that Shari’ah portfolio has a better performance than SRI from year 2008 to 2010 shown by higher value of the measurement tools. However, from 2011 to 2013, SRI portfolio has better performance than Shari’ah portfolio. 

Prevalence of temporomandibular joint disorders and neck pain in musicians: a sytematic review

Directory of Open Access Journals (Sweden)

Bennatan Ferreira dos Santos

Full Text Available Abstract Introduction: The instrumental practice for a long time, the high performance level, the strict technique and the specific shape of each musical instrument can take musicians to overcome their physiological limits, giving a high prevalence of musculoskeletal injuries. Objective: Investigate the prevalence of temporomandibular joint disorder and neck pain in musicians. Methods: Between August and September 2015 were reviewed five databases: LILACS, SciELO, Medline / PubMed, Scopus and Web of Science. The articles were read and evaluated by the criteria of the Strengthening the Reporting of Observational Studies in Epidemiology (STROBE, items, that obtained a percentage above of 50 percent, were considered in the analysis of this work. Results: 15 articles attended the inclusion criteria. Among all musicians the prevalence of TMJ pain ranged from 10 - 81% and the prevalence of neck pain ranged from 29 - 80%. Conclusion: In this study was observed that the musicians showed both, temporomandibular joint disorders and neck pain, watching a high prevalence especially in violinists and the horn players. In the risk factors identified in the literature for the emergence of painful symptoms in musicians, stand out the biomechanical factors involved in maintaining anti-physiologic postures.

Musicians have better memory than nonmusicians: A meta-analysis

Science.gov (United States)

Altoè, Gianmarco; Carretti, Barbara; Grassi, Massimo

2017-01-01

Background Several studies have found that musicians perform better than nonmusicians in memory tasks, but this is not always the case, and the strength of this apparent advantage is unknown. Here, we conducted a meta-analysis with the aim of clarifying whether musicians perform better than nonmusicians in memory tasks. Methods Education Source; PEP (WEB)—Psychoanalytic Electronic Publishing; Psychology and Behavioral Science (EBSCO); PsycINFO (Ovid); PubMed; ScienceDirect—AllBooks Content (Elsevier API); SCOPUS (Elsevier API); SocINDEX with Full Text (EBSCO) and Google Scholar were searched for eligible studies. The selected studies involved two groups of participants: young adult musicians and nonmusicians. All the studies included memory tasks (loading long-term, short-term or working memory) that contained tonal, verbal or visuospatial stimuli. Three meta-analyses were run separately for long-term memory, short-term memory and working memory. Results We collected 29 studies, including 53 memory tasks. The results showed that musicians performed better than nonmusicians in terms of long-term memory, g = .29, 95% CI (.08–.51), short-term memory, g = .57, 95% CI (.41–.73), and working memory, g = .56, 95% CI (.33–.80). To further explore the data, we included a moderator (the type of stimulus presented, i.e., tonal, verbal or visuospatial), which was found to influence the effect size for short-term and working memory, but not for long-term memory. In terms of short-term and working memory, the musicians’ advantage was large with tonal stimuli, moderate with verbal stimuli, and small or null with visuospatial stimuli. Conclusions The three meta-analyses revealed a small effect size for long-term memory, and a medium effect size for short-term and working memory, suggesting that musicians perform better than nonmusicians in memory tasks. Moreover, the effect of the moderator suggested that, the type of stimuli influences this advantage. PMID:29049416

Leptokurtic portfolio theory

Science.gov (United States)

Kitt, R.; Kalda, J.

2006-03-01

The question of optimal portfolio is addressed. The conventional Markowitz portfolio optimisation is discussed and the shortcomings due to non-Gaussian security returns are outlined. A method is proposed to minimise the likelihood of extreme non-Gaussian drawdowns of the portfolio value. The theory is called Leptokurtic, because it minimises the effects from “fat tails” of returns. The leptokurtic portfolio theory provides an optimal portfolio for investors, who define their risk-aversion as unwillingness to experience sharp drawdowns in asset prices. Two types of risks in asset returns are defined: a fluctuation risk, that has Gaussian distribution, and a drawdown risk, that deals with distribution tails. These risks are quantitatively measured by defining the “noise kernel” — an ellipsoidal cloud of points in the space of asset returns. The size of the ellipse is controlled with the threshold parameter: the larger the threshold parameter, the larger return are accepted for investors as normal fluctuations. The return vectors falling into the kernel are used for calculation of fluctuation risk. Analogously, the data points falling outside the kernel are used for the calculation of drawdown risks. As a result the portfolio optimisation problem becomes three-dimensional: in addition to the return, there are two types of risks involved. Optimal portfolio for drawdown-averse investors is the portfolio minimising variance outside the noise kernel. The theory has been tested with MSCI North America, Europe and Pacific total return stock indices.

Concurrent credit portfolio losses.

Science.gov (United States)

Sicking, Joachim; Guhr, Thomas; Schäfer, Rudi

2018-01-01

We consider the problem of concurrent portfolio losses in two non-overlapping credit portfolios. In order to explore the full statistical dependence structure of such portfolio losses, we estimate their empirical pairwise copulas. Instead of a Gaussian dependence, we typically find a strong asymmetry in the copulas. Concurrent large portfolio losses are much more likely than small ones. Studying the dependences of these losses as a function of portfolio size, we moreover reveal that not only large portfolios of thousands of contracts, but also medium-sized and small ones with only a few dozens of contracts exhibit notable portfolio loss correlations. Anticipated idiosyncratic effects turn out to be negligible. These are troublesome insights not only for investors in structured fixed-income products, but particularly for the stability of the financial sector. JEL codes: C32, F34, G21, G32, H81.

Perceptions of Playing-Related Musculoskeletal Disorders (PRMDs) in Irish traditional musicians: a focus group study.

Science.gov (United States)

Wilson, Iseult M; Doherty, Liz; McKeown, Laura

2014-01-01

Playing-related musculoskeletal disorders (PRMDs) are common in musicians and interfere with the ability to play an instrument at the accustomed level. There is limited research into injuries affecting folk musicians. To explore the Irish traditional musicians' experience of PRMDs. Focus group interviews were conducted in 2011 and 2012, in two venues in Ireland. Data were recorded and transcribed verbatim. Data collection ended when no new findings emerged from the analysis of interviews. The inclusion criteria were: males or females aged 18 and above, and who taught or played Irish traditional music on any instrument. The data were analysed using the interpretative phenomenological method. All participants (n=22) believed there was a link between playing music and musculoskeletal problems. The main body areas affected were the back, shoulders, arms and hands. The main theme that emerged was: 'PRMDs are an integral part of being a traditional musician', and that the musical experience was generally prioritised over the health of the musician. There were sub-themes of 'fear' and 'stresses that contributed to PRMDs'. PRMDs are an occupational hazard for Irish musicians. There is an awareness of PRMDs, but changes (technique, environment) may threaten identity.

78 FR 21045 - Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship...

Science.gov (United States)

2013-04-09

... COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 23 RIN 3038-AC96 Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship Documentation Requirements for Swap Dealers... CFTC published final rules setting forth requirements for swap confirmation, portfolio reconciliation...

The Effect of Conceptual Advancement in Jazz Music Selections and Jazz Experience on Musicians' Aesthetic Response

Science.gov (United States)

Coggiola, John C.

2004-01-01

This study is an investigation of what musicians consider to be their aesthetic experience with jazz music selections that vary in level of conceptual advancement (melodic complexity during improvised solos). Music major participants (N = 128) were assigned to either the jazz musician (n = 64) or nonjazz musician (n = 64) group. Data were gathered…

Differences and simIlarities in the use of the portfolio and personal development plan for guidance in various vocational schools in the Netherlands

NARCIS (Netherlands)

Mittendorff, K.M.; Jochems, W.M.G.; Meijers, F.; Brok, den P.J.

2008-01-01

In The Netherlands, a growing number of vocational education and training institutes are implementing competence-based approaches to learning, including new career guidance practices. These practices often involve instruments such as portfolios or personal development plans, and are aimed at

Hearing loss in relation to sound exposure of professional symphony orchestra musicians

DEFF Research Database (Denmark)

Schmidt, J. H.; Pedersen, E. R.; Paarup, H. M.

2014-01-01

OBJECTIVES: The objectives of this study were to: (1) estimate the hearing status of classical symphony orchestra musicians and (2) investigate the hypothesis that occupational sound exposure of symphony orchestra musicians leads to elevated hearing thresholds. DESIGN: The study population compri...... that performing music may induce hearing loss to the same extent as industrial noise....

Measuring Treasury Bond Portfolio Risk and Portfolio Optimization with a Non-Gaussian Multivariate Model

Science.gov (United States)

Dong, Yijun

The research about measuring the risk of a bond portfolio and the portfolio optimization was relatively rare previously, because the risk factors of bond portfolios are not very volatile. However, this condition has changed recently. The 2008 financial crisis brought high volatility to the risk factors and the related bond securities, even if the highly rated U.S. treasury bonds. Moreover, the risk factors of bond portfolios show properties of fat-tailness and asymmetry like risk factors of equity portfolios. Therefore, we need to use advanced techniques to measure and manage risk of bond portfolios. In our paper, we first apply autoregressive moving average generalized autoregressive conditional heteroscedasticity (ARMA-GARCH) model with multivariate normal tempered stable (MNTS) distribution innovations to predict risk factors of U.S. treasury bonds and statistically demonstrate that MNTS distribution has the ability to capture the properties of risk factors based on the goodness-of-fit tests. Then based on empirical evidence, we find that the VaR and AVaR estimated by assuming normal tempered stable distribution are more realistic and reliable than those estimated by assuming normal distribution, especially for the financial crisis period. Finally, we use the mean-risk portfolio optimization to minimize portfolios' potential risks. The empirical study indicates that the optimized bond portfolios have better risk-adjusted performances than the benchmark portfolios for some periods. Moreover, the optimized bond portfolios obtained by assuming normal tempered stable distribution have improved performances in comparison to the optimized bond portfolios obtained by assuming normal distribution.

Noise induced hearing loss and other hearing complaints among musicians of symphony orchestras

NARCIS (Netherlands)

Jansen, E. J. M.; Helleman, H. W.; Dreschler, W. A.; de Laat, J. A. P. M.

2009-01-01

OBJECTIVES: An investigation of the hearing status of musicians of professional symphony orchestras. Main questions are: (1) Should musicians be treated as a special group with regard to hearing, noise, and noise related hearing problems (2) Do patterns of hearing damage differ for different

Facial Recognition of Happiness Is Impaired in Musicians with High Music Performance Anxiety.

Science.gov (United States)

Sabino, Alini Daniéli Viana; Camargo, Cristielli M; Chagas, Marcos Hortes N; Osório, Flávia L

2018-01-01

Music performance anxiety (MPA) can be defined as a lasting and intense apprehension connected with musical performance in public. Studies suggest that MPA can be regarded as a subtype of social anxiety. Since individuals with social anxiety have deficits in the recognition of facial emotion, we hypothesized that musicians with high levels of MPA would share similar impairments. The aim of this study was to compare parameters of facial emotion recognition (FER) between musicians with high and low MPA. 150 amateur and professional musicians with different musical backgrounds were assessed in respect to their level of MPA and completed a dynamic FER task. The outcomes investigated were accuracy, response time, emotional intensity, and response bias. Musicians with high MPA were less accurate in the recognition of happiness ( p  = 0.04; d  = 0.34), had increased response bias toward fear ( p  = 0.03), and increased response time to facial emotions as a whole ( p  = 0.02; d  = 0.39). Musicians with high MPA displayed FER deficits that were independent of general anxiety levels and possibly of general cognitive capacity. These deficits may favor the maintenance and exacerbation of experiences of anxiety during public performance, since cues of approval, satisfaction, and encouragement are not adequately recognized.

Parametric Portfolio Selection: Evaluating and Comparing to Markowitz Portfolios

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Marcelo C. Medeiros

2014-10-01

Full Text Available In this paper we exploit the parametric portfolio optimization in the Brazilian market. Our data consists of monthly returns of 306 Brazilian stocks in the period between 2001 and 2013. We tested the model both in and out of sample and compared the results with the value and equal weighted portfolios and with a Markowitz based portfolio. We performed statistical inference in the parametric optimization using bootstrap techniques in order to build the parameters empirical distributions. Our results showed that the parametric optimization is a very efficient technique out of sample. It consistently showed superior results when compared with the VW, EW and Markowitz portfolios even when transaction costs were included. Finally, we consider the parametric approach to be very flexible to the inclusion of constraints in weights, transaction costs and listing and delisting of stocks.

Safety of subcutaneous microinjections (mesotherapy) in musicians.

Science.gov (United States)

Navarte, Danik Arana; Rosset-Llobet, Jaume

2011-06-01

Determine the safety and tolerance of mesotherapy as a technique for the treatment of musculoskeletal complaints in musicians. 67 patients (55.2% women) were subjected to a total of 267 mesotherapy sessions. A mesotherapy needle or normal needle was used randomly. The drugs employed were thiocolchicoside and diazepam as muscular relaxants, pentoxifylline or buflomedil as vasodilators, and piroxicam as an anti-inflammatory, as directed. A visual analogue scale was used to quantify the pain produced by the microinjections as well as the degree of immediate and midterm side effects as reported on a standard questionnaire. A mean of 155.5 microinjections were performed per session, of which 45.6% were perceived as painful by the patient with a mean severity of 4.3 out of 10. The pain reduced to 0.5 out of 10 after 24 hours. The most sensitive areas were the levator scapulae and splenius muscles. Systemic symptoms were reported by 5.99% of the musicians after the mesotherapy sessions (muscular weakness 1.5%, rash 1.5%, drowsiness 1.1% and itching 1.1%, being the most frequent). The mean severity of these symptoms was 2.77 out of 10. In all cases the symptoms had completely disappeared after 24 hours. No patient referred to signs of local or systemic infection. The application of drugs by means of subcutaneous injections (mesotherapy) in musicians is a technique that is safe, well tolerated, and without any severe complications.

The Musician, the Researcher and the Psychologist

DEFF Research Database (Denmark)

Uddholm, Mats

practice. In contrast, the results indicate that the force contained in music-theoretical concepts appears to have an impact on how music situations are interpreted. These diversities were expressed as three different types of music-therapists; the Musician, the Researcher and the Psychologist, which......The Musician, the Researcher and the Psychologist The aim of this presentation is to illuminate and discuss some connections between the therapeutic profession and development of music pedagogic theory. A topic that initially emerged as a result of a sub-study in my PhD -project about professional...... practitioners music-pedagogical Powers of Definition. The purpose of this sub-study was to generate data about which concepts music-therapists use in their meta-reflections on musical situations in special-pedagogic related practices. The link between the sub-study’s results and the research question was based...

Academic portfolio in the digital era: organizing and maintaining a portfolio using reference managers.

Science.gov (United States)

Bhargava, Puneet; Patel, Vatsal B; Iyer, Ramesh S; Moshiri, Mariam; Robinson, Tracy J; Lall, Chandana; Heller, Matthew T

2015-02-01

The academic portfolio has become an integral part of the promotions process. Creating and maintaining an academic portfolio in paper-based or web-based formats can be a cumbersome and time-consuming task. In this article, we describe an alternative way to efficiently organize an academic portfolio using a reference manager software, and discuss some of the afforded advantages. The reference manager software Papers (Mekentosj, Amsterdam, The Netherlands) was used to create an academic portfolio. The article outlines the key steps in creating and maintaining a digital academic portfolio. Using reference manager software (Papers), we created an academic portfolio that allows the user to digitally organize clinical, teaching, and research accomplishments in an indexed library enabling efficient updating, rapid retrieval, and easy sharing. To our knowledge, this is the first digital portfolio of its kind.

The effect of music performance on the transcriptome of professional musicians.

Science.gov (United States)

Kanduri, Chakravarthi; Kuusi, Tuire; Ahvenainen, Minna; Philips, Anju K; Lähdesmäki, Harri; Järvelä, Irma

2015-03-25

Music performance by professional musicians involves a wide-spectrum of cognitive and multi-sensory motor skills, whose biological basis is unknown. Several neuroscientific studies have demonstrated that the brains of professional musicians and non-musicians differ structurally and functionally and that musical training enhances cognition. However, the molecules and molecular mechanisms involved in music performance remain largely unexplored. Here, we investigated the effect of music performance on the genome-wide peripheral blood transcriptome of professional musicians by analyzing the transcriptional responses after a 2-hr concert performance and after a 'music-free' control session. The up-regulated genes were found to affect dopaminergic neurotransmission, motor behavior, neuronal plasticity, and neurocognitive functions including learning and memory. Particularly, candidate genes such as SNCA, FOS and DUSP1 that are involved in song perception and production in songbirds, were identified, suggesting an evolutionary conservation in biological processes related to sound perception/production. Additionally, modulation of genes related to calcium ion homeostasis, iron ion homeostasis, glutathione metabolism, and several neuropsychiatric and neurodegenerative diseases implied that music performance may affect the biological pathways that are otherwise essential for the proper maintenance of neuronal function and survival. For the first time, this study provides evidence for the candidate genes and molecular mechanisms underlying music performance.

Switching portfolios.

Science.gov (United States)

Singer, Y

1997-08-01

A constant rebalanced portfolio is an asset allocation algorithm which keeps the same distribution of wealth among a set of assets along a period of time. Recently, there has been work on on-line portfolio selection algorithms which are competitive with the best constant rebalanced portfolio determined in hindsight (Cover, 1991; Helmbold et al., 1996; Cover and Ordentlich, 1996). By their nature, these algorithms employ the assumption that high returns can be achieved using a fixed asset allocation strategy. However, stock markets are far from being stationary and in many cases the wealth achieved by a constant rebalanced portfolio is much smaller than the wealth achieved by an ad hoc investment strategy that adapts to changes in the market. In this paper we present an efficient portfolio selection algorithm that is able to track a changing market. We also describe a simple extension of the algorithm for the case of a general transaction cost, including the transactions cost models recently investigated in (Blum and Kalai, 1997). We provide a simple analysis of the competitiveness of the algorithm and check its performance on real stock data from the New York Stock Exchange accumulated during a 22-year period. On this data, our algorithm outperforms all the algorithms referenced above, with and without transaction costs.

Portfolio langagier en francais (Language Portfolios in French).

Science.gov (United States)

Laplante, Bernard; Christiansen, Helen

2001-01-01

Suggests that first-year college students learning French should create a language portfolio that contains documents that illustrate what they have learned in French, along with a brief statement of what linguistic skill the document demonstrates. The goal of the portfolio is to make students more aware of their own learning, their strengths, and…

Do portfolios have a future?

Science.gov (United States)

Driessen, Erik

2017-03-01

While portfolios have seen an unprecedented surge in popularity, they have also become the subject of controversy: learners often perceive little gain from writing reflections as part of their portfolios; scholars question the ethics of such obligatory reflection; and students, residents, teachers and scholars alike condemn the bureaucracy surrounding portfolio implementation in competency-based education. It could be argued that mass adoption without careful attention to purpose and format may well jeopardize portfolios' viability in health sciences education. This paper explores this proposition by addressing the following three main questions: (1) Why do portfolios meet with such resistance from students and teachers, while educators love them?; (2) Is it ethical to require students to reflect and then grade their reflections?; (3) Does competency-based education empower or hamper the learner during workplace-based learning? Twenty-five years of portfolio reveal a clear story: without mentoring, portfolios have no future and are nothing short of bureaucratic hurdles in our competency-based education programs. Moreover, comprehensive portfolios, which are integrated into the curriculum and much more diverse in content than reflective portfolios, can serve as meaningful patient charts, providing doctor and patient with useful information to discuss well-being and treatment. In this sense, portfolios are also learner charts that comprehensively document progress in a learning trajectory which is lubricated by meaningful dialogue between learner and mentor in a trusting relationship to foster learning. If we are able to make such comprehensive and meaningful use of portfolios, then, yes, portfolios do have a bright future in medical education.

Financial equilibrium with career concerns

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Amil Dasgupta

2006-03-01

Full Text Available What are the equilibrium features of a financial market where a sizeable proportion of traders face reputational concerns? This question is central to our understanding of financial markets, which are increasingly dominated by institutional investors. We construct a model of delegated portfolio management that captures key features of the US mutual fund industry and embed it in an asset pricing framework. We thus provide a formal model of financial equilibrium with career concerned agents. Fund managers differ in their ability to understand market fundamentals, and in every period investors choose a fund. In equilibrium, the presence of career concerns induces uninformed fund managers to churn, i.e., to engage in trading even when they face a negative expected return. Churners act as noise traders and enhance the level of trading volume. The equilibrium relationship between fund return and net fund flows displays a skewed shape that is consistent with stylized facts. The robustness of our core results is probed from several angles.

Teacher Portfolios.

Science.gov (United States)

Wolfe-Quintero, Kate; Brown, James Dean

1998-01-01

A portfolio of achievements, experiences, and reflections can help English-as-a-Second-Language teachers attain professional development goals and offer administrators greater insight for making informed hiring and job-performance decisions. This paper focuses on what teacher portfolios are, what their contents should be, and what their uses are…

Exposure to music and noise-induced hearing loss (NIHL) among professional pop/rock/jazz musicians.

Science.gov (United States)

Halevi-Katz, Dana N; Yaakobi, Erez; Putter-Katz, Hanna

2015-01-01

Noise-induced hearing loss (NIHL) has been extensively studied in industrial work environments. With the advent of new technologies, loud music has been increasingly affecting listeners outside of the industrial setting. Most research on the effects of music and hearing loss has focused on classical musicians. The purpose of the current study was to examine the relationship between the amount of experience a professional pop/rock/jazz musician has and objective and subjective variables of the musician's hearing loss. This study also examined professional pop/rock/jazz musicians' use of hearing protection devices in relation to the extent of their exposure to amplified music. Forty-four pop/rock/jazz musicians were interviewed using the Pop/Rock/Jazz Musician's Questionnaire (PRJMQ) in order to obtain self-reported symptoms of tinnitus and hyperacusis. Forty-two of the subjects were also tested for air-conduction hearing thresholds in the frequency range of 1-8 kHz. Results show that the extent of professional pop/rock/jazz musicians' exposure to amplified music was related to both objective and subjective variables of hearing loss: Greater musical experience was positively linked to higher hearing thresholds in the frequency range of 3-6 kHz and to the subjective symptom of tinnitus. Weekly hours playing were found to have a greater effect on hearing loss in comparison to years playing. Use of hearing protection was not linked to the extent of exposure to amplified music. It is recommended that further research be conducted with a larger sample, in order to gain a greater understanding of the detrimental effects of hours playing versus years playing.

Effects of practice and experience on the arcuate fasciculus: comparing singers, instrumentalists, and non-musicians

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Gus F. Halwani

2011-07-01

Full Text Available Structure and function of the human brain are affected by training in both linguistic and musical domains. Individuals with intensive vocal musical training provide a useful model for investigating neural adaptations of learning in the vocal-motor domain and can be compared with learning in a more general musical domain. Here we confirm general differences in macrostructure (tract volume and microstructure (fractional anisotropy (FA of the arcuate fasciculus (AF, a prominent white-matter tract connecting temporal and frontal brain regions, between singers, instrumentalists, and non-musicians. Both groups of musicians differed from non-musicians in having larger tract volume and higher FA values of the right and left AF. The AF was then subdivided in a dorsal (superior branch connecting the superior temporal gyrus and the inferior frontal gyrus (STG<–>IFG, and ventral (inferior branch connecting the middle temporal gyrus and the inferior frontal gyrus (MTG<–>IFG. Relative to instrumental musicians, singers had a larger tract volume but lower FA values in the left dorsal AF (STG<–>IFG, and a similar trend in the left ventral AF (MTG<–>IFG. This between-group comparison controls for the general effects of musical training, although FA was still higher in singers compared to non-musicians. Both musician groups had higher tract volumes in the right dorsal and ventral tracts compared to non-musicians, but did not show a significant difference between each other. Furthermore, in the singers’ group, FA in the left dorsal branch of the AF was inversely correlated with the number of years of participants’ vocal training. Our findings suggest that long-term vocal-motor training might lead to an increase in volume and microstructural complexity of specific white matter tracts connecting regions that are fundamental to sound perception, production, and its feedforward and feedback control which can be differentiated from a more general musician

Effects of practice and experience on the arcuate fasciculus: comparing singers, instrumentalists, and non-musicians.

Science.gov (United States)

Halwani, Gus F; Loui, Psyche; Rüber, Theodor; Schlaug, Gottfried

2011-01-01

Structure and function of the human brain are affected by training in both linguistic and musical domains. Individuals with intensive vocal musical training provide a useful model for investigating neural adaptations of learning in the vocal-motor domain and can be compared with learning in a more general musical domain. Here we confirm general differences in macrostructure (tract volume) and microstructure (fractional anisotropy, FA) of the arcuate fasciculus (AF), a prominent white-matter tract connecting temporal and frontal brain regions, between singers, instrumentalists, and non-musicians. Both groups of musicians differed from non-musicians in having larger tract volume and higher FA values of the right and left AF. The AF was then subdivided in a dorsal (superior) branch connecting the superior temporal gyrus and the inferior frontal gyrus (STG ↔ IFG), and ventral (inferior) branch connecting the middle temporal gyrus and the inferior frontal gyrus (MTG ↔ IFG). Relative to instrumental musicians, singers had a larger tract volume but lower FA values in the left dorsal AF (STG ↔ IFG), and a similar trend in the left ventral AF (MTG ↔ IFG). This between-group comparison controls for the general effects of musical training, although FA was still higher in singers compared to non-musicians. Both musician groups had higher tract volumes in the right dorsal and ventral tracts compared to non-musicians, but did not show a significant difference between each other. Furthermore, in the singers' group, FA in the left dorsal branch of the AF was inversely correlated with the number of years of participants' vocal training. Our findings suggest that long-term vocal-motor training might lead to an increase in volume and microstructural complexity of specific white-matter tracts connecting regions that are fundamental to sound perception, production, and its feedforward and feedback control which can be differentiated from a more general musician

Decentralized portfolio management

OpenAIRE

Coutinho, Paulo; Tabak, Benjamin Miranda

2003-01-01

We use a mean-variance model to analyze the problem of decentralized portfolio management. We find the solution for the optimal portfolio allocation for a head trader operating in n different markets, which is called the optimal centralized portfolio. However, as there are many traders specialized in different markets, the solution to the problem of optimal decentralized allocation should be different from the centralized case. In this paper we derive conditions for the solutions to be equiva...

Sparse and stable Markowitz portfolios.

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Brodie, Joshua; Daubechies, Ingrid; De Mol, Christine; Giannone, Domenico; Loris, Ignace

2009-07-28

We consider the problem of portfolio selection within the classical Markowitz mean-variance framework, reformulated as a constrained least-squares regression problem. We propose to add to the objective function a penalty proportional to the sum of the absolute values of the portfolio weights. This penalty regularizes (stabilizes) the optimization problem, encourages sparse portfolios (i.e., portfolios with only few active positions), and allows accounting for transaction costs. Our approach recovers as special cases the no-short-positions portfolios, but does allow for short positions in limited number. We implement this methodology on two benchmark data sets constructed by Fama and French. Using only a modest amount of training data, we construct portfolios whose out-of-sample performance, as measured by Sharpe ratio, is consistently and significantly better than that of the naïve evenly weighted portfolio.

Cardiovascular, cerebrovascular, and respiratory changes induced by different types of music in musicians and non-musicians: the importance of silence.

Science.gov (United States)

Bernardi, L; Porta, C; Sleight, P

2006-04-01

To assess the potential clinical use, particularly in modulating stress, of changes in the cardiovascular and respiratory systems induced by music, specifically tempo, rhythm, melodic structure, pause, individual preference, habituation, order effect of presentation, and previous musical training. Measurement of cardiovascular and respiratory variables while patients listened to music. University research laboratory for the study of cardiorespiratory autonomic function. 12 practising musicians and 12 age matched controls. After a five minute baseline, presentation in random order of six different music styles (first for a two minute, then for a four minute track), with a randomly inserted two minute pause, in either sequence. Breathing rate, ventilation, carbon dioxide, RR interval, blood pressure, mid-cerebral artery flow velocity, and baroreflex. Ventilation, blood pressure, and heart rate increased and mid-cerebral artery flow velocity and baroreflex decreased with faster tempi and simpler rhythmic structures compared with baseline. No habituation effect was seen. The pause reduced heart rate, blood pressure, and minute ventilation, even below baseline. An order effect independent of style was evident for mid-cerebral artery flow velocity, indicating a progressive reduction with exposure to music, independent of style. Musicians had greater respiratory sensitivity to the music tempo than did non-musicians. Music induces an arousal effect, predominantly related to the tempo. Slow or meditative music can induce a relaxing effect; relaxation is particularly evident during a pause. Music, especially in trained subjects, may first concentrate attention during faster rhythms, then induce relaxation during pauses or slower rhythms.

Dynamic Portfolio Strategy Using Clustering Approach.

Science.gov (United States)

Ren, Fei; Lu, Ya-Nan; Li, Sai-Ping; Jiang, Xiong-Fei; Zhong, Li-Xin; Qiu, Tian

2017-01-01

The problem of portfolio optimization is one of the most important issues in asset management. We here propose a new dynamic portfolio strategy based on the time-varying structures of MST networks in Chinese stock markets, where the market condition is further considered when using the optimal portfolios for investment. A portfolio strategy comprises two stages: First, select the portfolios by choosing central and peripheral stocks in the selection horizon using five topological parameters, namely degree, betweenness centrality, distance on degree criterion, distance on correlation criterion and distance on distance criterion. Second, use the portfolios for investment in the investment horizon. The optimal portfolio is chosen by comparing central and peripheral portfolios under different combinations of market conditions in the selection and investment horizons. Market conditions in our paper are identified by the ratios of the number of trading days with rising index to the total number of trading days, or the sum of the amplitudes of the trading days with rising index to the sum of the amplitudes of the total trading days. We find that central portfolios outperform peripheral portfolios when the market is under a drawup condition, or when the market is stable or drawup in the selection horizon and is under a stable condition in the investment horizon. We also find that peripheral portfolios gain more than central portfolios when the market is stable in the selection horizon and is drawdown in the investment horizon. Empirical tests are carried out based on the optimal portfolio strategy. Among all possible optimal portfolio strategies based on different parameters to select portfolios and different criteria to identify market conditions, 65% of our optimal portfolio strategies outperform the random strategy for the Shanghai A-Share market while the proportion is 70% for the Shenzhen A-Share market.

Dynamic Portfolio Strategy Using Clustering Approach.

Directory of Open Access Journals (Sweden)

Fei Ren

Full Text Available The problem of portfolio optimization is one of the most important issues in asset management. We here propose a new dynamic portfolio strategy based on the time-varying structures of MST networks in Chinese stock markets, where the market condition is further considered when using the optimal portfolios for investment. A portfolio strategy comprises two stages: First, select the portfolios by choosing central and peripheral stocks in the selection horizon using five topological parameters, namely degree, betweenness centrality, distance on degree criterion, distance on correlation criterion and distance on distance criterion. Second, use the portfolios for investment in the investment horizon. The optimal portfolio is chosen by comparing central and peripheral portfolios under different combinations of market conditions in the selection and investment horizons. Market conditions in our paper are identified by the ratios of the number of trading days with rising index to the total number of trading days, or the sum of the amplitudes of the trading days with rising index to the sum of the amplitudes of the total trading days. We find that central portfolios outperform peripheral portfolios when the market is under a drawup condition, or when the market is stable or drawup in the selection horizon and is under a stable condition in the investment horizon. We also find that peripheral portfolios gain more than central portfolios when the market is stable in the selection horizon and is drawdown in the investment horizon. Empirical tests are carried out based on the optimal portfolio strategy. Among all possible optimal portfolio strategies based on different parameters to select portfolios and different criteria to identify market conditions, 65% of our optimal portfolio strategies outperform the random strategy for the Shanghai A-Share market while the proportion is 70% for the Shenzhen A-Share market.

The standard for portfolio management

CERN Document Server

2017-01-01

The Standard for Portfolio Management – Fourth Edition has been updated to best reflect the current state of portfolio management. It describe the principles that drive accepted good portfolio management practices in today’s organizations. It also expands the description of portfolio management to reflect its relation to organizational project management and the organization.

Processing of complex auditory patterns in musicians and nonmusicians.

Science.gov (United States)

Boh, Bastiaan; Herholz, Sibylle C; Lappe, Claudia; Pantev, Christo

2011-01-01

In the present study we investigated the capacity of the memory store underlying the mismatch negativity (MMN) response in musicians and nonmusicians for complex tone patterns. While previous studies have focused either on the kind of information that can be encoded or on the decay of the memory trace over time, we studied capacity in terms of the length of tone sequences, i.e., the number of individual tones that can be fully encoded and maintained. By means of magnetoencephalography (MEG) we recorded MMN responses to deviant tones that could occur at any position of standard tone patterns composed of four, six or eight tones during passive, distracted listening. Whereas there was a reliable MMN response to deviant tones in the four-tone pattern in both musicians and nonmusicians, only some individuals showed MMN responses to the longer patterns. This finding of a reliable capacity of the short-term auditory store underlying the MMN response is in line with estimates of a three to five item capacity of the short-term memory trace from behavioural studies, although pitch and contour complexity covaried with sequence length, which might have led to an understatement of the reported capacity. Whereas there was a tendency for an enhancement of the pattern MMN in musicians compared to nonmusicians, a strong advantage for musicians could be shown in an accompanying behavioural task of detecting the deviants while attending to the stimuli for all pattern lengths, indicating that long-term musical training differentially affects the memory capacity of auditory short-term memory for complex tone patterns with and without attention. Also, a left-hemispheric lateralization of MMN responses in the six-tone pattern suggests that additional networks that help structuring the patterns in the temporal domain might be recruited for demanding auditory processing in the pitch domain.

Processing of complex auditory patterns in musicians and nonmusicians.

Directory of Open Access Journals (Sweden)

Bastiaan Boh

Full Text Available In the present study we investigated the capacity of the memory store underlying the mismatch negativity (MMN response in musicians and nonmusicians for complex tone patterns. While previous studies have focused either on the kind of information that can be encoded or on the decay of the memory trace over time, we studied capacity in terms of the length of tone sequences, i.e., the number of individual tones that can be fully encoded and maintained. By means of magnetoencephalography (MEG we recorded MMN responses to deviant tones that could occur at any position of standard tone patterns composed of four, six or eight tones during passive, distracted listening. Whereas there was a reliable MMN response to deviant tones in the four-tone pattern in both musicians and nonmusicians, only some individuals showed MMN responses to the longer patterns. This finding of a reliable capacity of the short-term auditory store underlying the MMN response is in line with estimates of a three to five item capacity of the short-term memory trace from behavioural studies, although pitch and contour complexity covaried with sequence length, which might have led to an understatement of the reported capacity. Whereas there was a tendency for an enhancement of the pattern MMN in musicians compared to nonmusicians, a strong advantage for musicians could be shown in an accompanying behavioural task of detecting the deviants while attending to the stimuli for all pattern lengths, indicating that long-term musical training differentially affects the memory capacity of auditory short-term memory for complex tone patterns with and without attention. Also, a left-hemispheric lateralization of MMN responses in the six-tone pattern suggests that additional networks that help structuring the patterns in the temporal domain might be recruited for demanding auditory processing in the pitch domain.

Portfolios Dominating Indices: Optimization with Second-Order Stochastic Dominance Constraints vs. Minimum and Mean Variance Portfolios

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Neslihan Fidan Keçeci

2016-10-01

Full Text Available The paper compares portfolio optimization with the Second-Order Stochastic Dominance (SSD constraints with mean-variance and minimum variance portfolio optimization. As a distribution-free decision rule, stochastic dominance takes into account the entire distribution of return rather than some specific characteristic, such as variance. The paper is focused on practical applications of the portfolio optimization and uses the Portfolio Safeguard (PSG package, which has precoded modules for optimization with SSD constraints, mean-variance and minimum variance portfolio optimization. We have done in-sample and out-of-sample simulations for portfolios of stocks from the Dow Jones, S&P 100 and DAX indices. The considered portfolios’ SSD dominate the Dow Jones, S&P 100 and DAX indices. Simulation demonstrated a superior performance of portfolios with SD constraints, versus mean-variance and minimum variance portfolios.

Entre a batuta e o tubo de ensaio: a carreira admirável de Alexandre Borodin Between baton and test tube: the admirable career of Alexander Borodin

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Carlos A. L. Filgueiras

2002-11-01

Full Text Available Alexander Borodin (1833-1887 is a singularity in the history of science. Whereas other scientists may have kept lifelong interests in some artistic field, he was unique in pursuing with great success two parallel careers in both chemistry and music, managing to excell in both to the end of his life. Although he considered himself primarily a chemist, present-day appreciation of his powerful music has greatly surpassed interest for his chemistry. This article treats the life and the unusual double career of the Russian chemist-musician.

Post-modern portfolio theory supports diversification in an investment portfolio to measure investment's performance

OpenAIRE

Rasiah, Devinaga

2012-01-01

This study looks at the Post-Modern Portfolio Theory that maintains greater diversification in an investment portfolio by using the alpha and the beta coefficient to measure investment performance. Post-Modern Portfolio Theory appreciates that investment risk should be tied to each investor's goals and the outcome of this goal did not symbolize economic of the financial risk. Post-Modern Portfolio Theory's downside measure generated a noticeable distinction between downside and upside volatil...

Musicians do not benefit from differences in fundamental frequency when listening to speech in competing speech backgrounds

DEFF Research Database (Denmark)

Madsen, Sara Miay Kim; Whiteford, Kelly L.; Oxenham, Andrew J.

2017-01-01

Recent studies disagree on whether musicians have an advantage over non-musicians in understanding speech in noise. However, it has been suggested that musicians may be able to use diferences in fundamental frequency (F0) to better understand target speech in the presence of interfering talkers....... Here we studied a relatively large (N=60) cohort of young adults, equally divided between nonmusicians and highly trained musicians, to test whether the musicians were better able to understand speech either in noise or in a two-talker competing speech masker. The target speech and competing speech...... were presented with either their natural F0 contours or on a monotone F0, and the F0 diference between the target and masker was systematically varied. As expected, speech intelligibility improved with increasing F0 diference between the target and the two-talker masker for both natural and monotone...

Utility portfolio diversification

International Nuclear Information System (INIS)

Griffes, P.H.

1990-01-01

This paper discusses portfolio analysis as a method to evaluate utility supply decisions. Specifically a utility is assumed to increase the value of its portfolio of assets whenever it invests in a new supply technology. This increase in value occurs because the new asset either enhances the return or diversifies the risks of the firm's portfolio of assets. This evaluation method is applied to two supply innovations in the electric utility industry: jointly-owned generating plants and supply contracts with independent power producers (IPPs)

Teaching Portfolio

DEFF Research Database (Denmark)

Pedersen, Christian Fischer

The present teaching portfolio has been submitted for evaluation in partial fulfillment of the requirements of the teacher training programme for Assistant Professors at Department of Engineering, Aarhus University, Denmark.......The present teaching portfolio has been submitted for evaluation in partial fulfillment of the requirements of the teacher training programme for Assistant Professors at Department of Engineering, Aarhus University, Denmark....

Italian musicians in Greece during the nineteenth century

Directory of Open Access Journals (Sweden)

Romanou Ekaterini

2003-01-01

Full Text Available In Greece, the monophonic chant of the Orthodox church and its neumatic notation have been transmitted as a popular tradition up to the first decades of the 20th century. The transformation of Greek musical tradition to a Western type of urban culture and the introduction of harmony, staff notation and western instruments and performance practices in the country began in the 19th century. Italian musicians played a central role in that process. A large number of them lived and worked on the Ionian Islands. Those Italian musicians have left a considerable number of transcriptions and original compositions. Quite a different cultural background existed in Athens. Education was in most cases connected to the church - the institution that during the four centuries of Turkish occupation kept Greeks united and nationally conscious. The neumatic notation was used for all music sung by the people, music of both western and eastern origin. The assimilation of staff notation and harmony was accelerated in the last quarter of the 19th century. At the beginning of the 20th century in Athens a violent cultural clash was provoked by the reformers of music education all of them belonging to German culture. The clash ended with the displacement of the Italian and Greek musicians from the Ionian Islands working at the time in Athens, and the defamation of their fundamental work in music education.

The portfolio approach to competency-based assessment at the Cleveland Clinic Lerner College of Medicine.

Science.gov (United States)

Dannefer, Elaine F; Henson, Lindsey C

2007-05-01

Despite the rapid expansion of interest in competency-based assessment, few descriptions of assessment systems specifically designed for a competency-based curriculum have been reported. The purpose of this article is to describe the design of a portfolio approach to a comprehensive, competency-based assessment system that is fully integrated with the curriculum to foster an educational environment focused on learning. The educational design goal of the Cleveland Clinic Lerner College of Medicine of Case Western Reserve University was to create an integrated educational program-curriculum and instructional methods, student assessment processes, and learning environment-to prepare medical students for success in careers as physician investigators. The first class in the five-year program matriculated in 2004. To graduate, a student must demonstrate mastery of nine competencies: research, medical knowledge, communication, professionalism, clinical skills, clinical reasoning, health care systems, personal development, and reflective practice. The portfolio provides a tool for collecting and managing multiple types of assessment evidence from multiple contexts and sources within the curriculum to document competence and promote reflective practice skills. This article describes how the portfolio was developed to provide both formative and summative assessment of student achievement in relation to the program's nine competencies.

Portfolio optimization with mean-variance model

Science.gov (United States)

Hoe, Lam Weng; Siew, Lam Weng

2016-06-01

Investors wish to achieve the target rate of return at the minimum level of risk in their investment. Portfolio optimization is an investment strategy that can be used to minimize the portfolio risk and can achieve the target rate of return. The mean-variance model has been proposed in portfolio optimization. The mean-variance model is an optimization model that aims to minimize the portfolio risk which is the portfolio variance. The objective of this study is to construct the optimal portfolio using the mean-variance model. The data of this study consists of weekly returns of 20 component stocks of FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBMKLCI). The results of this study show that the portfolio composition of the stocks is different. Moreover, investors can get the return at minimum level of risk with the constructed optimal mean-variance portfolio.

One-Handed Musicians-More Than a Gimmick

NARCIS (Netherlands)

Woldendorp, K. H.; van Gils, W.

2012-01-01

There are many musicians with acquired limitations in making music, and there are many people with a disability who would like to play a music instrument in a modified way. There is discouragingly little information about this topic in literature. This article gives an overview of "making music in a

Households' portfolio choices

NARCIS (Netherlands)

Hochgürtel, S.

1998-01-01

This thesis presents four topics on households' portfolio choices. Empirically, households do not hold well-diversified wealth portfolios. In particular, they refrain from putting their savings into risky assets. We explore several ways that might help explaining this observation. Using Dutch

Exercise DVD effect on musculoskeletal disorders in professional orchestral musicians.

Science.gov (United States)

Chan, C; Driscoll, T; Ackermann, B

2014-01-01

Professional musicians report a high prevalence of performance-related musculoskeletal disorders (PRMDs). Excessive muscle tension and fatigue have been reported as important factors contributing to PRMDs. To evaluate feasibility and effectiveness of a specific exercise programme delivered via a digital video disc (DVD) targeting PRMDs and associated risk factors. Volunteers from eight Australian symphony orchestras undertook two or more sessions per week over 12 weeks. Questionnaires were administered pre- and post-intervention with items including the frequency and severity of PRMDs, perceived exertion during different playing situations, per formance effects of the DVD and satisfaction rates. Musicians who had also participated in an equivalent face-to-face programme prior to this DVD trial compared the two interventions. One hundred and forty-four out of 576 musicians volunteered (25% uptake), and 50 participants completed a mean 2.1 (SD 0.42) sessions over the 12 week period (41% compliance). PRMD frequency and severity were significantly reduced post-intervention (P benefits of the DVD on strengthening muscles, increasing ease of movement and improving flexibility related to playing. Despite this, perceived exertion levels during private practice, rehearsal and performance remained the same (not significant). Seventy-eight per cent of participants scored their overall experience of the use of the DVD as good or excellent. Owing to its convenience and detailed exercise demonstrations, the DVD was rated as better or much better overall than the face-to-face classes by 55% of participants who had experienced both. An exercise DVD was well received and appeared to be effective, convenient and safe in managing occupational-specific musculoskeletal disorders in musicians.

Music lessons: what musicians can teach doctors (and other health professionals).

Science.gov (United States)

Davidoff, Frank

2011-03-15

Medicine is a learned profession, but clinical practice is above all a matter of performance, in the best and deepest sense of the word. Because music is, at its core, a pure distillate of real-time performance, musicians are in an excellent position to teach us about better ways to become and remain expert performers in health care and ways for our teachers and mentors to help us do that. Ten features of the professionalization of musicians offer us lessons on how the clinical practice of medicine might be learned, taught, and performed more effectively.

Evaluation of an established learning portfolio.

Science.gov (United States)

Vance, Gillian; Williamson, Alyson; Frearson, Richard; O'Connor, Nicole; Davison, John; Steele, Craig; Burford, Bryan

2013-02-01

The trainee-held learning portfolio is integral to the foundation programme in the UK. In the Northern Deanery, portfolio assessment is standardised through the Annual Review of Competence Progression (ARCP) process. In this study we aimed to establish how current trainees evaluate portfolio-based learning and ARCP, and how these attitudes may have changed since the foundation programme was first introduced. Deanery-wide trainee attitudes were surveyed by an electronic questionnaire in 2009 and compared with perceptions recorded during the pilot phase (2004-2005).  Many trainees continue to view the e-portfolio negatively. Indeed, significantly fewer trainees in 2009 thought that the e-portfolio was a 'good idea' or a 'worthwhile investment of time' than in 2005. Trainees remain unconvinced about the educational value of the e-portfolio: fewer trainees in 2009 regarded it as a tool that might help focus on training or recognise individual strengths and weaknesses. Issues around unnecessary bureaucracy persist. Current trainees tend to understand how to use the e-portfolio, but many did not know how much, or what evidence to collect. Few supervisors were reported to provide useful guidance on the portfolio. ARCP encouraged portfolio completion but did not give meaningful feedback to drive future learning.   Continued support is needed for both trainees and supervisors in portfolio-building skills and in using the e-portfolio as an educational tool. Trainee-tailored feedback is needed to ensure that portfolio-based assessment promotes lifelong, self-directed and reflective learners. © Blackwell Publishing Ltd 2013.

Enhanced feature integration in musicians

DEFF Research Database (Denmark)

Hansen, Niels Christian; Højlund, Andreas; Møller, Cecilie

the classical oddball control paradigm which used identical sounds. This novel finding supports the dependent processing hypothesis suggesting that musicians recruit overlapping neural resources facilitating more holistic representations of domain-relevant stimuli. These specialised refinements in predictive......Distinguishing and integrating features of sensory input is essential to human survival and no less paramount in music perception and cognition. Yet, little is known about training-induced plasticity of neural mechanisms for auditory feature integration. This study aimed to contrast the two...

Action in Perception: Prominent Visuo-Motor Functional Symmetry in Musicians during Music Listening.

Directory of Open Access Journals (Sweden)

Iballa Burunat

Full Text Available Musical training leads to sensory and motor neuroplastic changes in the human brain. Motivated by findings on enlarged corpus callosum in musicians and asymmetric somatomotor representation in string players, we investigated the relationship between musical training, callosal anatomy, and interhemispheric functional symmetry during music listening. Functional symmetry was increased in musicians compared to nonmusicians, and in keyboardists compared to string players. This increased functional symmetry was prominent in visual and motor brain networks. Callosal size did not significantly differ between groups except for the posterior callosum in musicians compared to nonmusicians. We conclude that the distinctive postural and kinematic symmetry in instrument playing cross-modally shapes information processing in sensory-motor cortical areas during music listening. This cross-modal plasticity suggests that motor training affects music perception.

Making sense with ePortfolios

DEFF Research Database (Denmark)

Poulsen, Bo Klindt; Dimsits, Miriam

2017-01-01

of the statements from the students concerning their understanding of ePortfolio processes are fundamentally questions of how to make sense of the ePortfolio tool, both in their professional and personal lives. This calls for a didactical stance with the teachers who use ePortfolios, based on empowerment through......This article discusses the question of making sense out of working with ePortfolio in adult education. The article presents the results of a small-scale survey among adults in continuing education who have worked with ePortfolio as the central didactic principle. It is argued that many...... meaning-making, in order for ePortfolios to make sense. It is suggested that two relevant didactic perspectives for making sense of the world can be found in theories of biographicity and metaphor work. Moreover, a strong didactic stance that supports sense-making must be based on a strong teacher role...

12 CFR 347.108 - Portfolio investments.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Portfolio investments. 347.108 Section 347.108... INTERNATIONAL BANKING § 347.108 Portfolio investments. (a) Portfolio investments. If a bank, directly or indirectly, acquires or holds an equity interest in a foreign organization as a portfolio investment and the...

Musicians working in community contexts : perspectives of learning

NARCIS (Netherlands)

Smilde, Rineke

2012-01-01

This paper will explore types of learning, which takes place when musicians work in situations where they have to connect to community contexts. It will first address musicians’ changing professional roles in the changing sociocultural landscape and the need for lifelong learning and emergence of

Portfolios in Saudi medical colleges

Science.gov (United States)

Fida, Nadia M.; Shamim, Muhammad S.

2016-01-01

Over recent decades, the use of portfolios in medical education has evolved, and is being applied in undergraduate and postgraduate programs worldwide. Portfolios, as a learning process and method of documenting and assessing learning, is supported as a valuable tool by adult learning theories that stress the need for learners to be self-directed and to engage in experiential learning. Thoughtfully implemented, a portfolio provides learning experiences unequaled by any single learning tool. The credibility (validity) and dependability (reliability) of assessment through portfolios have been questioned owing to its subjective nature; however, methods to safeguard these features have been described in the literature. This paper discusses some of this literature, with particular attention to the role of portfolios in relation to self-reflective learning, provides an overview of current use of portfolios in undergraduate medical education in Saudi Arabia, and proposes research-based guidelines for its implementation and other similar contexts. PMID:26905344

Identifying attachment ruptures underlying severe music performance anxiety in a professional musician undertaking an assessment and trial therapy of Intensive Short-Term Dynamic Psychotherapy (ISTDP).

Science.gov (United States)

Kenny, Dianna T; Arthey, Stephen; Abbass, Allan

2016-01-01

Kenny has proposed that severe music performance anxiety that is unresponsive to usual treatments such as cognitive-behaviour therapy may be one manifestation of unresolved attachment ruptures in early life. Intensive Short-Term Dynamic Psychotherapy specifically targets early relationship trauma. Accordingly, a trial of Intensive Short-Term Dynamic Psychotherapy with severely anxious musicians was implemented to assess whether resolution of attachment ruptures resulted in clinically significant relief from music performance anxiety. Volunteer musicians participating in a nationally funded study were screened for MPA severity. Those meeting the critical cut-off score on the Kenny Music Performance Anxiety Inventory were offered a trial of Intensive Short-Term Dynamic Psychotherapy. In this paper, we present the theoretical foundations and rationale for the treatment approach, followed by sections of a verbatim transcript and process analysis of the assessment phase of treatment that comprised a 3-h trial therapy session. The 'case' was a professional orchestral musician (male, aged 55) who had suffered severe music performance anxiety over the course of his entire career, which spanned more than 30 years at the time he presented for treatment following his failure to secure a position at audition. The participant was able to access the pain, rage and grief associated with unresolved attachment ruptures with both parents that demonstrated the likely nexus between early attachment trauma and severe music performance anxiety. Intensive Short-Term Dynamic Psychotherapy is a potentially cost-effective treatment for severe music performance anxiety. Further research using designs with higher levels of evidence are required before clinical recommendations can be made for the use of this therapy with this population.

Portfolio Analysis for Vector Calculus

Science.gov (United States)

Kaplan, Samuel R.

2015-01-01

Classic stock portfolio analysis provides an applied context for Lagrange multipliers that undergraduate students appreciate. Although modern methods of portfolio analysis are beyond the scope of vector calculus, classic methods reinforce the utility of this material. This paper discusses how to introduce classic stock portfolio analysis in a…

Optimal Portfolios in Wishart Models and Effects of Discrete Rebalancing on Portfolio Distribution and Strategy Selection

OpenAIRE

Li, Zejing

2012-01-01

This dissertation is mainly devoted to the research of two problems - the continuous-time portfolio optimization in different Wishart models and the effects of discrete rebalancing on portfolio wealth distribution and optimal portfolio strategy.

Ethnomusicological biography of the traditional folk musician: Biography of the gusle-player

Directory of Open Access Journals (Sweden)

Lajić-Mihajlović Danka

2008-01-01

Full Text Available With the development of ethnomusicology from a comparative discipline to an anthropologically oriented science there has been an increase in the significance of the biography of folk musicians as scientific sources. The intention of the anthropological thought to accept and theoretically consider human nature as open and dynamic, has been realized in the ethnomusicological plane through the understanding of music as a product of thinking and behaviour of a particular musician in given circumstances. The concept of an artist is especially complex in the field of oral music culture, where creation and performance are connected in one person and the transferring process involves direct communication. The attempt to overcome the dichotomy of the musicological and sociological, i. e. anthropological attitude in ethnomusicology by synthesizing concepts which involve music, culture and man has brought particular importance to the relations between individual biographies and 'biographies of the collective' - relevant historical ethnological, anthropological, sociological, culturological, religion ideological and other types of data. Observations enlightening the social side of the folk musician's personality make the necessary 'frame' for the biography: from 'objective' social circumstances which modelled it to the opinion of the cultural environment about his performing. The folk musician's biography oriented towards ethnomusicology involves the result of a critical evaluation of the picture based on the emic and ethic vision autobiographical data and the observations of others, primarily researchers. The complexity of a biographical discourse in ethnomusicology can be perfectly seen in the example of the gusle-player's biography, as a genre-determined solo role in the tradition. For studying the relation between a person and a style of music expression, concerning gusle-players it is important to bear in mind the change in the profile of gusle

Using Electronic Portfolios

Science.gov (United States)

Page, Deb

2012-01-01

The digitized collections of artifacts known as electronic portfolios are creating solutions to a variety of performance improvement needs in ways that are cost-effective and improve both individual and group learning and performance. When social media functionality is embedded in e-portfolios, the tools support collaboration, social learning,…

Jazz talks: representations & self-representations of African American music and its musicians from bebop to free jazz

OpenAIRE

Mazman, Alper

2010-01-01

The main focus of this thesis is the representation of jazz music and its musicians, and the ways in which American (black and white) critics, novelists, and musicians interpret this music from the development of bebop to free jazz. My aim is to reveal the complexities of the dialogue between white and black representations of jazz, as well as among the self-representations of African American musicians. To this end, I discuss the discourses of jazz that are embedded within the broader cultur...

Musician effect on perception of spectro-temporally degraded speech, vocal emotion, and music in young adolescents.

NARCIS (Netherlands)

Başkent, Deniz; Fuller, Christina; Galvin, John; Schepel, Like; Gaudrain, Etienne; Free, Rolien

2018-01-01

In adult normal-hearing musicians, perception of music, vocal emotion, and speech in noise has been previously shown to be better than non-musicians, sometimes even with spectro-temporally degraded stimuli. In this study, melodic contour identification, vocal emotion identification, and speech

Portfolios dominating indices: Optimization with second-order stochastic dominance constraints vs. minimum and mean variance portfolios

OpenAIRE

Keçeci, Neslihan Fidan; Kuzmenko, Viktor; Uryasev, Stan

2016-01-01

The paper compares portfolio optimization with the Second-Order Stochastic Dominance (SSD) constraints with mean-variance and minimum variance portfolio optimization. As a distribution-free decision rule, stochastic dominance takes into account the entire distribution of return rather than some specific characteristic, such as variance. The paper is focused on practical applications of the portfolio optimization and uses the Portfolio Safeguard (PSG) package, which has precoded modules for op...

Portfolios Dominating Indices: Optimization with Second-Order Stochastic Dominance Constraints vs. Minimum and Mean Variance Portfolios

OpenAIRE

Neslihan Fidan Keçeci; Viktor Kuzmenko; Stan Uryasev

2016-01-01

The paper compares portfolio optimization with the Second-Order Stochastic Dominance (SSD) constraints with mean-variance and minimum variance portfolio optimization. As a distribution-free decision rule, stochastic dominance takes into account the entire distribution of return rather than some specific characteristic, such as variance. The paper is focused on practical applications of the portfolio optimization and uses the Portfolio Safeguard (PSG) package, which has precoded modules for op...

Affirmation, Validation, and Empowerment: Influences of a Composition Competition on Students' Self-Concepts as Musicians

Science.gov (United States)

Albert, Daniel J.

2017-01-01

The purpose of this study was to determine if participation in a composition competition influenced four K-12 students' self-concepts as musicians. Research questions explored motivations for these four students to enter into a composition competition, influences of the competition on students' self-concepts as musicians (if at all), and effects…

Portfolio i erhvervsuddannelserne

DEFF Research Database (Denmark)

2008-01-01

Materialet kombinerer korte film med introducerende tekster og belyser fra forskellige vinkler, hvordan portfolio kan bruges som evalueringsmetode i erhvervsuddannelserne. Udgiver: Undervisningsministeriet Udgivelsessted: Pub.uvm.dk......Materialet kombinerer korte film med introducerende tekster og belyser fra forskellige vinkler, hvordan portfolio kan bruges som evalueringsmetode i erhvervsuddannelserne. Udgiver: Undervisningsministeriet Udgivelsessted: Pub.uvm.dk...

Portfolio Management

Science.gov (United States)

Duncan, Sharon L.

2011-01-01

Enterprise Business Information Services Division (EBIS) supports the Laboratory and its functions through the implementation and support of business information systems on behalf of its business community. EBIS Five Strategic Focus Areas: (1) Improve project estimating, planning and delivery capability (2) Improve maintainability and sustainability of EBIS Application Portfolio (3) Leap forward in IT Leadership (4) Comprehensive Talent Management (5) Continuous IT Security Program. Portfolio Management is a strategy in which software applications are managed as assets

Musicians' Enhanced Neural Differentiation of Speech Sounds Arises Early in Life: Developmental Evidence from Ages 3 to 30

Science.gov (United States)

Strait, Dana L.; O'Connell, Samantha; Parbery-Clark, Alexandra; Kraus, Nina

2014-01-01

The perception and neural representation of acoustically similar speech sounds underlie language development. Music training hones the perception of minute acoustic differences that distinguish sounds; this training may generalize to speech processing given that adult musicians have enhanced neural differentiation of similar speech syllables compared with nonmusicians. Here, we asked whether this neural advantage in musicians is present early in life by assessing musically trained and untrained children as young as age 3. We assessed auditory brainstem responses to the speech syllables /ba/ and /ga/ as well as auditory and visual cognitive abilities in musicians and nonmusicians across 3 developmental time-points: preschoolers, school-aged children, and adults. Cross-phase analyses objectively measured the degree to which subcortical responses differed to these speech syllables in musicians and nonmusicians for each age group. Results reveal that musicians exhibit enhanced neural differentiation of stop consonants early in life and with as little as a few years of training. Furthermore, the extent of subcortical stop consonant distinction correlates with auditory-specific cognitive abilities (i.e., auditory working memory and attention). Results are interpreted according to a corticofugal framework for auditory learning in which subcortical processing enhancements are engendered by strengthened cognitive control over auditory function in musicians. PMID:23599166

Faster native vowel discrimination learning in musicians is mediated by an optimization of mnemonic functions.

Science.gov (United States)

Elmer, Stefan; Greber, Marielle; Pushparaj, Arethy; Kühnis, Jürg; Jäncke, Lutz

2017-09-01

The ability to discriminate phonemes varying in spectral and temporal attributes constitutes one of the most basic intrinsic elements underlying language learning mechanisms. Since previous work has consistently shown that professional musicians are characterized by perceptual and cognitive advantages in a variety of language-related tasks, and since vowels can be considered musical sounds within the domain of speech, here we investigated the behavioral and electrophysiological correlates of native vowel discrimination learning in a sample of professional musicians and non-musicians. We evaluated the contribution of both the neurophysiological underpinnings of perceptual (i.e., N1/P2 complex) and mnemonic functions (i.e., N400 and P600 responses) while the participants were instructed to judge whether pairs of native consonant-vowel (CV) syllables manipulated in the first formant transition of the vowel (i.e., from /tu/ to /to/) were identical or not. Results clearly demonstrated faster learning in musicians, compared to non-musicians, as reflected by shorter reaction times and higher accuracy. Most notably, in terms of morphology, time course, and voltage strength, this steeper learning curve was accompanied by distinctive N400 and P600 manifestations between the two groups. In contrast, we did not reveal any group differences during the early stages of auditory processing (i.e., N1/P2 complex), suggesting that faster learning was mediated by an optimization of mnemonic but not perceptual functions. Based on a clear taxonomy of the mnemonic functions involved in the task, results are interpreted as pointing to a relationship between faster learning mechanisms in musicians and an optimization of echoic (i.e., N400 component) and working memory (i.e., P600 component) functions. Copyright © 2017 Elsevier Ltd. All rights reserved.

The DIY Careers of Techno and Drum ‘n’ Bass DJs in Vienna

Directory of Open Access Journals (Sweden)

Rosa Reitsamer

2011-06-01

Full Text Available My empirical research on electronic dance music scenes in Vienna, Austria, explores an area of cultural production that unites the ideology of creativity with the aspirations of social networks and individual entrepreneurship. The model for a DJ's career is a hybrid of inspired musician, compelling performer, marketing genius and business strategist. An economically successful career depends not only on performing in clubs; DJs are also involved in music production, making records, marketing themselves through the media, organizing club nights and running labels. Social and cultural capital is invested in creative freedom, a do-it-yourself ethos, and collective enjoyment, yet these DJs tend to promote the neoliberal economic ideal of the "autonomous cultural entrepreneur" combining self-organisation and self-marketing with unregulated labour and gendered constructions of artist identity. Taking Bourdieu's work on the field of cultural production as a theoretical framework, my analysis of the DJs' modes of self-(representation suggests that the opposition Bourdieu made between art and commerce tends to blur.

The assessment and treatment of performance anxiety in musicians.

Science.gov (United States)

Clark, D B; Agras, W S

1991-05-01

Performance anxiety in musicians may be severe enough to require intervention but has been the subject of relatively little clinical research. The authors' objectives were to describe the results of a comprehensive clinical and laboratory assessment and to perform a double-blind, placebo-controlled study comparing buspirone, cognitive-behavior therapy, and the combination of these treatments for performance anxiety. Ninety-four subjects were recruited by mass media announcements and were seen in a university-based outpatient psychiatric clinic. Assessments were 1) questionnaires for all 94 subjects, 2) diagnostic interview of 50 subjects, and 3) laboratory performance of 34 subjects. Treatment conditions were 1) 6 weeks of buspirone, 2) 6 weeks of placebo, 3) a five-session, group cognitive-behavior therapy program with buspirone, or 4) the cognitive-behavior therapy program with placebo. Treatment outcome measures included subjective anxiety ratings and heart rate measures during a laboratory performance, a questionnaire measure of performance confidence, and a blind rating of musical performance quality. All subjects fulfilled criteria for DSM-III-R social phobia. Of the 15 full-time professional musicians, ten had tried propranolol and three had stopped performing. Most of the subjects had substantial anxiety and heart rate increases during laboratory speech and musical performances. Cognitive-behavior therapy resulted in statistically significant reductions in subjective anxiety, improved quality of musical performance, and improved performance confidence. Buspirone was not an effective treatment. Cognitive-behavior therapy is a viable treatment approach for performance anxiety in musicians.

A Meta-study of musicians' non-verbal interaction

DEFF Research Database (Denmark)

Jensen, Karl Kristoffer; Marchetti, Emanuela

2010-01-01

interruptions. Hence, despite the fact that the skill to engage in a non-verbal interaction is described as tacit knowledge, it is fundamental for both musicians and teachers (Davidson and Good 2002). Typical observed non-verbal cues are for example: physical gestures, modulations of sound, steady eye contact...

"Doctor Jazz": Lessons that medical professionals can learn from jazz musicians.

Science.gov (United States)

van Ark, Allard E; Wijnen-Meijer, Marjo

2018-04-24

The worlds of a physician and a jazz musician seem entirely different. Various studies, however, relating the concepts behind jazz music to medical practice and education, have been published. The aim of this essayistic review is to summarize previously described concepts behind jazz music and its required artistic skills that could be translated to medicine, encouraging doctors, medical students and medical educators to see their professional environment from a different perspective. A systematic search was conducted using PubMed, Embase, and ERIC databases, combining keywords with regard to jazz, medicine and medical education. Background information concerning jazz music and several jazz musicians was retrieved through an additional nonsystematic search using Google Scholar. Lessons with regard to improvisational skills, both in communication with patients and in a technical context, communication skills, leadership, interprofessional teamwork and coping with errors are presented. Doctors and medical students could learn various lessons from jazz music performance and jazz musicians. The potential and the possibilities of implementing jazz into the medical curriculum, in order to contribute to the development of professional skills and attitudes of medical students, could be explored further.

Enhanced phase synchrony in the electroencephalograph gamma band for musicians while listening to music.

Science.gov (United States)

Bhattacharya, J; Petsche, H

2001-07-01

Multichannel electroencephalograph signals from two broad groups, 10 musicians and 10 nonmusicians, recorded in different states (in resting states or no task condition, with eyes opened and eyes closed, and with two musical tasks, listening to two different pieces of music) were studied. Degrees of phase synchrony in various frequency bands were assessed. No differences in the degree of synchronization in any frequency band were found between the two groups in resting conditions. Yet, while listening to music, significant increases of synchronization were found only in the gamma-frequency range (>30 Hz) over large cortical areas for the group of musicians. This high degree of synchronization elicited by music in the group of musicians might be due to their ability to host long-term memory representations of music and mediate access to these stored representations.

Enhanced phase synchrony in the electroencephalograph γ band for musicians while listening to music

Science.gov (United States)

Bhattacharya, Joydeep; Petsche, Hellmuth

2001-07-01

Multichannel electroencephalograph signals from two broad groups, 10 musicians and 10 nonmusicians, recorded in different states (in resting states or no task condition, with eyes opened and eyes closed, and with two musical tasks, listening to two different pieces of music) were studied. Degrees of phase synchrony in various frequency bands were assessed. No differences in the degree of synchronization in any frequency band were found between the two groups in resting conditions. Yet, while listening to music, significant increases of synchronization were found only in the γ-frequency range (>30 Hz) over large cortical areas for the group of musicians. This high degree of synchronization elicited by music in the group of musicians might be due to their ability to host long-term memory representations of music and mediate access to these stored representations.

Large portfolio risk management and optimal portfolio allocation with dynamic elliptical copulas

Directory of Open Access Journals (Sweden)

Jin Xisong

2018-02-01

Full Text Available Previous research has focused on the importance of modeling the multivariate distribution for optimal portfolio allocation and active risk management. However, existing dynamic models are not easily applied to high-dimensional problems due to the curse of dimensionality. In this paper, we extend the framework of the Dynamic Conditional Correlation/Equicorrelation and an extreme value approach into a series of Dynamic Conditional Elliptical Copulas. We investigate risk measures such as Value at Risk (VaR and Expected Shortfall (ES for passive portfolios and dynamic optimal portfolios using Mean-Variance and ES criteria for a sample of US stocks over a period of 10 years. Our results suggest that (1 Modeling the marginal distribution is important for dynamic high-dimensional multivariate models. (2 Neglecting the dynamic dependence in the copula causes over-aggressive risk management. (3 The DCC/DECO Gaussian copula and t-copula work very well for both VaR and ES. (4 Grouped t-copulas and t-copulas with dynamic degrees of freedom further match the fat tail. (5 Correctly modeling the dependence structure makes an improvement in portfolio optimization with respect to tail risk. (6 Models driven by multivariate t innovations with exogenously given degrees of freedom provide a flexible and applicable alternative for optimal portfolio risk management.

The Development of E-Portfolio Evaluation Criteria and Application to the Blackboard LMS E-Portfolio

Science.gov (United States)

McKenna, Gary F.; Stansfield, Mark H.

2012-01-01

The purpose of this paper is to develop e-portfolio evaluation criteria which will be used to review the Blackboard LMS e-portfolio being used at one Higher Education (HE) institution in the UK as evaluation criteria for reviewing e-portfolio provision does not exist in the literature. The approach taken was to initiate a wide literature search…

13 CFR 107.760 - How a change in size or activity of a Portfolio Concern affects the Licensee and the Portfolio...

Science.gov (United States)

2010-01-01

... of a Portfolio Concern affects the Licensee and the Portfolio Concern. 107.760 Section 107.760... § 107.760 How a change in size or activity of a Portfolio Concern affects the Licensee and the Portfolio Concern. (a) Effect on Licensee of a change in size of a Portfolio Concern. If a Portfolio Concern no...

Robust Active Portfolio Management

National Research Council Canada - National Science Library

Erdogan, E; Goldfarb, D; Iyengar, G

2006-01-01

... on the portfolio beta, and limits on cash and industry exposure. We show that the optimal portfolios can be computed by solving second-order cone programs -- a class of optimization problems with a worst case complexity (i.e...

A pilot study of occupational injury and illness experienced by classical musicians.

Science.gov (United States)

Raymond, Delbert M; Romeo, June Hart; Kumke, Karoline V

2012-01-01

Limited attention is paid to the hazards experienced by orchestra musicians in the occupational health and safety literature. Within that literature, the primary focus has been on noise exposure. A focus on this area is warranted because high sound pressure levels are a product of this work environment. However, in addition to being at risk for noise-induced hearing loss, workers are also at risk for musculoskeletal injury and illness related to stressful body postures held for prolonged work periods. The socio-political forces of employment may place workers at risk for mental health disorders (e.g., depression). The researchers distributed an anonymous survey to classical orchestra musicians in the southwestern United States. The survey inventoried several areas related to occupational health risks. Results suggest low health care-seeking behaviors relative to self-reported signs and symptoms of morbidity. Musicians also reported limited formal training and education regarding occupational health risks. Risk information was provided late in their professional development. This is a particular concern because of the young age at which music training is initiated. Copyright 2012, SLACK Incorporated.

Universal portfolios generated by the Bregman divergence

Science.gov (United States)

Tan, Choon Peng; Kuang, Kee Seng

2017-04-01

The Bregman divergence of two probability vectors is a stronger form of the f-divergence introduced by Csiszar. Two versions of the Bregman universal portfolio are presented by exploiting the mean-value theorem. The explicit form of the Bregman universal portfolio generated by a function of a convex polynomial is derived and studied empirically. This portfolio can be regarded as another generalized of the well-known Helmbold portfolio. By running the portfolios on selected stock-price data sets from the local stock exchange, it is shown that it is possible to increase the wealth of the investor by using the portfolios in investment.

EEG alpha desynchronization in musicians and nonmusicians in response to changes in melody, tempo, and key in classical music.

Science.gov (United States)

Overman, Amy A; Hoge, Jessica; Dale, J Alexander; Cross, Jeffrey D; Chien, Alec

2003-10-01

Two experiments were performed to examine musicians' and nonmusicians' electroencephalographic (EEG) responses to changes in major dimensions (tempo, melody, and key) of classical music. In Exp. 1, 12 nonmusicians' and 12 musicians' EEGs during melody and tempo changes in classical music showed more alpha desynchronization in the left hemisphere (F3) for changes in tempo than in the right. For melody, the nonmusicians were more right-sided (F4) than left in activation, and musicians showed no left-right differences. In Exp. 2, 18 musicians' and 18 nonmusicians' EEG after a key change in classical music showed that distant key changes elicited more right frontal (F4) alpha desynchronization than left. Musicians showed more reaction to key changes than nonmusicians and instructions to attend to key changes had no significant effect. Classical music, given its well-defined structure, offers a unique set of stimuli to study the brain. Results support the concept of hierarchical modularity in music processing that may be automatic.

Is Playing in the Pit Really the Pits?: Pain, Strength, Music Performance Anxiety, and Workplace Satisfaction in Professional Musicians in Stage, Pit, and Combined Stage/Pit Orchestras.

Science.gov (United States)

Kenny, Dianna T; Driscoll, Tim; Ackermann, Bronwen J

2016-03-01

Typically, Australian orchestral musicians perform on stage, in an orchestra pit, or in a combination of both workplaces. This study explored a range of physical and mental health indicators in musicians who played in these different orchestra types to ascertain whether orchestra environment was a risk factor affecting musician wellbeing. Participants comprised 380 full-time orchestral musicians from the eight major state orchestras in Australia comprised of two dedicated pit orchestras, three stage-only symphonic orchestras, and three mixed stage/pit orchestras. Participants completed a physical assessment and a range of self-report measures assessing performance-related musculoskeletal disorders (PRMD), physical characteristics including strength and perceived exertion, and psychological health, including music performance anxiety (MPA), workplace satisfaction, and bullying. Physical characteristics and performance-related musculoskeletal profiles were similar for most factors on the detailed survey completed by orchestra members. The exceptions were that pit musicians demonstrated greater shoulder and elbow strength, while mixed-workload orchestra musicians had greater flexibility Significantly more exertion was reported by pit musicians when rehearsing and performing. Stage/pit musicians reported less physical exertion when performing in the pit compared with performing on stage. Severity of MPA was significantly greater in pit musicians than mixed orchestra musicians. Pit musicians also reported more frequent bullying and lower job satisfaction compared with stage musicians. There were few differences in the objective physical measures between musicians in the different orchestra types. However, pit musicians appear more psychologically vulnerable and less satisfied with their work than musicians from the other two orchestra types. The physical and psychological characteristics of musicians who perform in different orchestra types have not been adequately

Different Variants of Fundamental Portfolio

Directory of Open Access Journals (Sweden)

Tarczyński Waldemar

2014-06-01

Full Text Available The paper proposes the fundamental portfolio of securities. This portfolio is an alternative for the classic Markowitz model, which combines fundamental analysis with portfolio analysis. The method’s main idea is based on the use of the TMAI1 synthetic measure and, in limiting conditions, the use of risk and the portfolio’s rate of return in the objective function. Different variants of fundamental portfolio have been considered under an empirical study. The effectiveness of the proposed solutions has been related to the classic portfolio constructed with the help of the Markowitz model and the WIG20 market index’s rate of return. All portfolios were constructed with data on rates of return for 2005. Their effectiveness in 2006- 2013 was then evaluated. The studied period comprises the end of the bull market, the 2007-2009 crisis, the 2010 bull market and the 2011 crisis. This allows for the evaluation of the solutions’ flexibility in various extreme situations. For the construction of the fundamental portfolio’s objective function and the TMAI, the study made use of financial and economic data on selected indicators retrieved from Notoria Serwis for 2005.

A Mean variance analysis of arbitrage portfolios

Science.gov (United States)

Fang, Shuhong

2007-03-01

Based on the careful analysis of the definition of arbitrage portfolio and its return, the author presents a mean-variance analysis of the return of arbitrage portfolios, which implies that Korkie and Turtle's results ( B. Korkie, H.J. Turtle, A mean-variance analysis of self-financing portfolios, Manage. Sci. 48 (2002) 427-443) are misleading. A practical example is given to show the difference between the arbitrage portfolio frontier and the usual portfolio frontier.

Patent portfolio management: literature review and a proposed model.

Science.gov (United States)

Conegundes De Jesus, Camila Kiyomi; Salerno, Mario Sergio

2018-05-09

Patents and patent portfolios are gaining attention in the last decades, from the called 'pro-patent era' to the recent billionaire transactions involving patent portfolios. The field is growing in importance, both theoretically and practically and despite having substantial literature on new product development portfolio management, we have not found an article relating this theory to patent portfolios. Areas covered: The paper develops a systematic literature review on patent portfolio management to organize the evolution and tendencies of patent portfolio management, highlighting distinctive features of patent portfolio management. Interview with IP manager of three life sciences companies, including a leading multinational group provided relevant information about patent portfolio management. Expert opinion: Based on the systematic literature review on portfolio management, more specifically, on new product development portfolio theory, and interview the paper proposes the paper proposes a reference model to manage patent portfolios. The model comprises four stages aligned with the three goals of the NPD portfolio management: 1 - Linking strategy of the Company's NPD Portfolio to Patent Portfolio; 2 - Balancing the portfolio in buckets; 3 - Patent Valuation (maximizing valuation); 4 - Regularly reviewing the patent portfolio.

Purchasing portfolio usage and purchasing sophistication

NARCIS (Netherlands)

Gelderman, C.J.; Weele, van A.J.

2005-01-01

Purchasing portfolio models have caused considerable controversy in literature. Many advantages and disadvantages have been put forward, revealing a strong disagreement on the merits of portfolio models. This study addresses the question whether or not the use of purchasing portfolio models should

Clinical assessment of scapular positioning in musicians: an intertester reliability study.

Science.gov (United States)

Struyf, Filip; Nijs, Jo; De Coninck, Kris; Giunta, Marco; Mottram, Sarah; Meeusen, Romain

2009-01-01

The reliability of the measurement of the distance between the posterior border of the acromion and the wall and the reliability of the modified lateral scapular slide test have not been studied. Overall, the reliability of the clinical tools used to assess scapular positioning has not been studied in musicians. To examine the intertester reliability of scapular observation and 2 clinical tests for the assessment of scapular positioning in musicians. Intertester reliability study. University research laboratory. Thirty healthy student musicians at a single university. Two assessors performed a standardized observation protocol, the measurement of the distance between the posterior border of the acromion and the wall, and the modified lateral scapular slide test. Each assessor was blinded to the other's findings. The intertester reliability coefficients (kappa) for the observation in relaxed position, during unloaded movement, and during loaded movement were 0.41, 0.63, and 0.36, respectively. The kappa values for the observation of tilting and winging at rest were 0.48 and 0.42, respectively; during unloaded movement, the kappa values were 0.52 and 0.78, respectively; and with a 1-kg load, the kappa values were 0.24 and 0.50, respectively. The intraclass correlation coefficient (ICC) of the measurement of the acromial distance was 0.72 in relaxed position and 0.75 with the participant actively retracting both shoulders. The ICCs for the modified lateral scapular slide test varied between 0.63 and 0.58. Our results demonstrated that the modified lateral scapular slide test was not a reliable tool to assess scapular positioning in these participants. Our data indicated that scapular observation in the relaxed position and during unloaded abduction in the frontal plane was a reliable assessment tool. The reliability of the measurement of the distance between the posterior border of the acromion and the wall in healthy musicians was moderate.

Household portfolios and implicit risk aversion

NARCIS (Netherlands)

Bucciol, A.; Miniaci, R.

2008-01-01

We derive from a sample of US households the distribution of the risk aversion implicit in their portfolio choice. Our estimate minimizes the distance between the certainty equivalent return generated with observed portfolios and portfolios that are optimal in a mean-variance framework. Taking into

Hierarchical Portfolio Management: Theory and Applications

NARCIS (Netherlands)

H. Ning (Haikun)

2007-01-01

textabstractUnder his own preference, how should an investor coordinate the asset managers such that his aggregated portfolio is optimized? The efficiency of each managed sub portfolio and the aggregation of all the sub portfolios are the 2 main underlying problems considered in this dissertation.

Quantitative investment strategies and portfolio management

NARCIS (Netherlands)

Guo, J.

2012-01-01

This book contains three essays on alternative investments and portfolio management. Taking from a portfolio investor’s perspective, the first essay analyzes the portfolio implication of investing in hedge funds when there is a hedge fund lockup period. The second essay studies the investment

Error management for musicians: an interdisciplinary conceptual framework

Directory of Open Access Journals (Sweden)

Silke eKruse-Weber

2014-07-01

Full Text Available Musicians tend to strive for flawless performance and perfection, avoiding errors at all costs. Dealing with errors while practicing or performing is often frustrating and can lead to anger and despair, which can explain musicians’ generally negative attitude toward errors and the tendency to aim for errorless learning in instrumental music education. But even the best performances are rarely error-free, and research in general pedagogy and psychology has shown that errors provide useful information for the learning process. Research in instrumental pedagogy is still neglecting error issues; the benefits of risk management (before the error and error management (during and after the error are still underestimated. It follows that dealing with errors is a key aspect of music practice at home, teaching, and performance in public. And yet, to be innovative, or to make their performance extraordinary, musicians need to risk errors. Currently, most music students only acquire the ability to manage errors implicitly - or not at all. A more constructive, creative and differentiated culture of errors would balance error tolerance and risk-taking against error prevention in ways that enhance music practice and music performance. The teaching environment should lay the foundation for the development of these abilities. In this contribution, we survey recent research in aviation, medicine, economics, psychology, and interdisciplinary decision theory that has demonstrated that specific error-management training can promote metacognitive skills that lead to better adaptive transfer and better performance skills. We summarize how this research can be applied to music, and survey relevant research that is specifically tailored to the needs of musicians, including generic guidelines for risk and error management in music teaching and performance. On this basis, we develop a conceptual framework for risk management that can provide orientation for further

Project Portfolio Management Applications Testing

OpenAIRE

Paul POCATILU

2006-01-01

Many IT companies are running project simultaneously. In order to achieve the best results, they have to group to the project in portfolios, and to use specific software that helps to manage them. Project portfolio management applications have a high degree of complexity and they are very important for the companies that are using it. This paper focuses on some characteristics of the testing process for project portfolio management applications

[Questionnaire survey of musician's dystonia among students of a music college].

Science.gov (United States)

Konaka, Kuni; Mochizuki, Hideki

2015-01-01

Musician's dystonia is known as a task specific dystonia. Though it is thought to occur during a long course of repetitive performance, the actual circumstances that precipitate this condition are not clear. According to factual reports this disease is not commonly known, probably because many of these patients may not have been visiting a hospital. We prepared a questionnaire and did a survey among the students of a music college. This is the first questionnaire survey aimed at finding out the prevalence of musician's dystonia among the students of music. Among the 480 participants of this survey, 29% of the students had knowledge of this disorder and 1.25% of the students had dystonia while performing music.

Secrets of virtuoso: neuromuscular attributes of motor virtuosity in expert musicians

Science.gov (United States)

Furuya, Shinichi; Oku, Takanori; Miyazaki, Fumio; Kinoshita, Hiroshi

2015-10-01

Musical performance requires extremely fast and dexterous limb movements. The underlying biological mechanisms have been an object of interest among scientists and non-scientists for centuries. Numerous studies of musicians and non-musicians have demonstrated that neuroplastic adaptations through early and deliberate musical training endowed superior motor skill. However, little has been unveiled about what makes inter-individual differences in motor skills among musicians. Here we determined the attributes of inter-individual differences in the maximum rate of repetitive piano keystrokes in twenty-four pianists. Among various representative factors of neuromuscular functions, anatomical characteristics, and training history, a stepwise multiple regression analysis and generalized linear model identified two predominant predictors of the maximum rate of repetitive piano keystrokes; finger tapping rate and muscular strength of the elbow extensor. These results suggest a non-uniform role of individual limb muscles in the production of extremely fast repetitive multi-joint movements. Neither age of musical training initiation nor the amount of extensive musical training before age twenty was a predictor. Power grip strength was negatively related to the maximum rate of piano keystrokes only during the smallest tone production. These findings highlight the importance of innate biological nature and explicit training for motor virtuosity.

Electrophysiological evidences demonstrating differences in brain functions between nonmusicians and musicians.

Science.gov (United States)

Zhang, Li; Peng, Weiwei; Chen, Jie; Hu, Li

2015-09-04

Long-term music training can improve sensorimotor skills, as playing a musical instrument requires the functional integration of information related to multimodal sensory perception and motor execution. This functional integration often leads to functional reorganization of cerebral cortices, including auditory, visual, and motor areas. Moreover, music appreciation can modulate emotions (e.g., stress relief), and long-term music training can enhance a musician's self-control and self-evaluation ability. Therefore, the neural processing of music can also be related to certain higher brain cognitive functions. However, evidence demonstrating that long-term music training modulates higher brain functions is surprisingly rare. Here, we aimed to comprehensively explore the neural changes induced by long-term music training by assessing the differences of transient and quasi-steady-state auditory-evoked potentials between nonmusicians and musicians. We observed that compared to nonmusicians, musicians have (1) larger high-frequency steady-state responses, which reflect the auditory information processing within the sensory system, and (2) smaller low-frequency vertex potentials, which reflect higher cognitive information processing within the novelty/saliency detection system. Therefore, we speculate that long-term music training facilitates "bottom-up" auditory information processing in the sensory system and enhances "top-down" cognitive inhibition of the novelty/saliency detection system.

Analysis of the Capability Portfolio Review (CPR)

Science.gov (United States)

2014-06-01

10  2.4.1.1.  The Basics of Modern Portfolio Theory ...of Modern Portfolio Theory Much of modern portfolio management has been motivated by the influential work of Harry Markowitz (Markowitz, 1952) and...unsystematic risk associated with individual stocks, leaving only the generally market risk (Walls, 2004). The basic assumption of modern portfolio theory is

Project Portfolio Management Applications Testing

Directory of Open Access Journals (Sweden)

Paul POCATILU

2006-01-01

Full Text Available Many IT companies are running project simultaneously. In order to achieve the best results, they have to group to the project in portfolios, and to use specific software that helps to manage them. Project portfolio management applications have a high degree of complexity and they are very important for the companies that are using it. This paper focuses on some characteristics of the testing process for project portfolio management applications

Portfolio insurance using traded options

OpenAIRE

Machado-Santos, Carlos

2001-01-01

Literature concerning the institutional use of options indicates that the main purpose of option trading is to provide investors with the opportunity to create return distributions previously unavailable, considering that options provide the means to manipulate portfolio returns. In such a context, this study intends to analyse the returns of insured portfolios generated by hedging strategies on underlying stock portfolios. Because dynamic hedging is too expensive, we have hedged the stock po...

Memorization by a Jazz Musician: A Case Study

Science.gov (United States)

Noice, Helga; Jeffrey, John; Noice, Tony; Chaffin, Roger

2008-01-01

To investigate the memory strategies of jazz musicians, we videotaped an experienced jazz pianist as he learned a new bebop piece. He had not previously heard a recording of the selection, nor had he seen the written music. The pianist provided detailed reports of the musical structure and the types of cues he used as landmarks to guide his…

Minimum Variance Portfolios in the Brazilian Equity Market

Directory of Open Access Journals (Sweden)

Alexandre Rubesam

2013-03-01

Full Text Available We investigate minimum variance portfolios in the Brazilian equity market using different methods to estimate the covariance matrix, from the simple model of using the sample covariance to multivariate GARCH models. We compare the performance of the minimum variance portfolios to those of the following benchmarks: (i the IBOVESPA equity index, (ii an equally-weighted portfolio, (iii the maximum Sharpe ratio portfolio and (iv the maximum growth portfolio. Our results show that the minimum variance portfolio has higher returns with lower risk compared to the benchmarks. We also consider long-short 130/30 minimum variance portfolios and obtain similar results. The minimum variance portfolio invests in relatively few stocks with low βs measured with respect to the IBOVESPA index, being easily replicable by individual and institutional investors alike.

PSN: Portfolio Social Network

DEFF Research Database (Denmark)

Cortes, Jordi Magrina; Nizamani, Sarwat; Memon, Nasrullah

2014-01-01

In this paper we present a web-based information system which is a portfolio social network (PSN) that provides solutions to the recruiters and job seekers. The proposed system enables users to create portfolio so that he/she can add his specializations with piece of code if any specifically...

Seeing Music? What musicians need to know about vision

Directory of Open Access Journals (Sweden)

Michael Schutz

2008-09-01

Full Text Available Music is inherently an auditory art form, rooted in sound, and generally analyzed in terms of its acoustic properties. However, as the process of hearing is affected by seeing, visual information does in fact play an important role in the musical experience. Vision influences many aspects of music – from evaluations of performance quality and audience interest to the perception of loudness, timbre, and note duration. Moreover, it can be used to achieve musical goals that are in fact acoustically impossible. As such, understanding the benefits of embracing (and the costs of ignoring vision’s role is essential for all musicians. Furthermore, since music represents a pervasive and ubiquitous human practice, this topic serves as an ideal case study for understanding how auditory and visual information are integrated. Given that some musically-based studies have challenged and even contributed to updating psychological theories of sensory integration, this topic represents a rich area of research, relevant to musicians and psychologists alike.

Perception of orchestral musicians about work environment and conditions

Directory of Open Access Journals (Sweden)

Clarissa Stefani Teixeira

2014-04-01

Full Text Available The objective of this study was to investigate the perception of 11 orchestral string (viola and violin musicians of both genders with respect to their work environment and conditions. We applied a questionnaire with demographic information and the scale Profile of Work Environment and Working Conditions by Nahas et al. (2009, which analyzes the following components: physical environment, social environment, development and professional achievement, salary and benefits, and social relevance. The social environment component presented the highest score - 8.00 (1.50 points, followed by professional achievement - 7.11 (1.96 points, and physical environment - 6.89 (0.93 points. The salary and benefits provided by the orchestra presented the lowest score - 6.78 (1.56 points. In general, the musicians showed positive perceptions of the components related to work environment and working conditions. However, remuneration and social relevance are work bases that could contribute to improve the working conditions of these professionals.

Sygeplejestuderendes brug af portfolio i klinisk undervisning

DEFF Research Database (Denmark)

Hjorth, Anne Charlotte Overgaard; Bruhn, Helle

2014-01-01

Brugen af portfolio var mangelfuld, men et udviklingsprojekt i samarbejde med den kommunale sygepleje motiverede både sygeplejestuderende og kliniske vejledere til at anvende læringsdelen af portfolio aktivt.......Brugen af portfolio var mangelfuld, men et udviklingsprojekt i samarbejde med den kommunale sygepleje motiverede både sygeplejestuderende og kliniske vejledere til at anvende læringsdelen af portfolio aktivt....

A motion capture study to measure the feeling of synchrony in romantic couples and in professional musicians

Directory of Open Access Journals (Sweden)

Delphine Preissmann

2016-10-01

Full Text Available The feeling of synchrony is fundamental for most social activities and prosocial behaviors. However, little is known about the behavioral correlates of this feeling and its modulation by intergroup differences. We previously showed that the subjective feeling of synchrony in subjects involved in a mirror imitation task was modulated by objective behavioral measures, as well as contextual factors such as task difficulty and duration of the task performance. In the present study, we extended our methodology to investigate possible interindividual differences. We hypothesized that being in a romantic relationship or being a professional musician can modulate both implicit and explicit synchronisation and the feeling of synchrony as well as the ability to detect synchrony from a third person perspective. Contrary to our hypothesis, we did not find significant differences between people in a romantic relationship and control subjects. However, we observed differences between musicians and control subjects. For the implicit synchrony (spontaneous synchronization during walking, the results revealed that musicians that had never met before spontaneously synchronized their movements earlier among themselves than control subjects, but not better than people sharing a romantic relationship. Moreover, in explicit behavioral synchronisation tasks (mirror game, musicians reported earlier feeling of synchrony and had less speed errors than control subjects. This was in interaction with tasks difficulty as these differences appeared only in tasks with intermediate difficulty. Finally, when subjects had to judge synchrony from a third person perspective, musicians had a better performance to identify if they were present or not in the videos. Taken together, our results suggest that being a professional musician can play a role in the feeling of synchrony and its underlying mechanisms.

Cluster analysis for portfolio optimization

OpenAIRE

Vincenzo Tola; Fabrizio Lillo; Mauro Gallegati; Rosario N. Mantegna

2005-01-01

We consider the problem of the statistical uncertainty of the correlation matrix in the optimization of a financial portfolio. We show that the use of clustering algorithms can improve the reliability of the portfolio in terms of the ratio between predicted and realized risk. Bootstrap analysis indicates that this improvement is obtained in a wide range of the parameters N (number of assets) and T (investment horizon). The predicted and realized risk level and the relative portfolio compositi...

Constant Proportion Portfolio Insurance

DEFF Research Database (Denmark)

Jessen, Cathrine

2014-01-01

on the theme, originally proposed by Fischer Black. In CPPI, a financial institution guarantees a floor value for the “insured” portfolio and adjusts the stock/bond mix to produce a leveraged exposure to the risky assets, which depends on how far the portfolio value is above the floor. Plain-vanilla portfolio...... insurance largely died with the crash of 1987, but CPPI is still going strong. In the frictionless markets of finance theory, the issuer’s strategy to hedge its liability under the contract is clear, but in the real world with transactions costs and stochastic jump risk, the optimal strategy is less obvious...

Differential parietal and temporal contributions to music perception in improvising and score-dependent musicians, an fMRI study

NARCIS (Netherlands)

Robert Harris; Bauke M. de Jong

2015-01-01

Using fMRI, cerebral activations were studied in 24 classically-trained keyboard performers and 12 musically unskilled control subjects. Two groups of musicians were recruited: improvising (n=12) and score-dependent (non-improvising) musicians (n=12). While listening to both familiar and unfamiliar

Validity of the Learning Portfolio: Analysis of a Portfolio Proposal for the University

Science.gov (United States)

Gregori-Giralt, Eva; Menéndez-Varela, José Luis

2015-01-01

Validity is a central issue in portfolio-based assessment. This empirical study used a quantitative approach to analyse the validity of the inferences drawn from a disciplinary course work portfolio assessment comprising profession-specific and learning competencies. The study also examined the problems involved in the development of the…

Performance of the reverse Helmbold universal portfolio

Science.gov (United States)

Tan, Choon Peng; Kuang, Kee Seng; Lee, Yap Jia

2017-04-01

The universal portfolio is an important investment strategy in a stock market where no stochastic model is assumed for the stock prices. The zero-gradient set of the objective function estimating the next-day portfolio which contains the reverse Kullback-Leibler order-alpha divergence is considered. From the zero-gradient set, the explicit, reverse Helmbold universal portfolio is obtained. The performance of the explicit, reverse Helmbold universal portfolio is studied by running them on some stock-price data sets from the local stock exchange. It is possible to increase the wealth of the investor by using these portfolios in investment.

Æstetik og portfolio

DEFF Research Database (Denmark)

Hyldahl, Kirsten Kofod; Sams, Pernille; Egelund, Karen Stine

2017-01-01

Nærværende artikel præsenterer resultaterne af udviklingsprojektet ”Portfolio og æstetik” på pædagoguddannelsen i Hjørring. Projektet har til formål, gennem æstetisk formsprog, at stilladsere og fastholde de studerendes læreprocesser samt udvikle og implementere portfolio i studieaktiviteter på...

Specific patterns in portfolio analysis

Directory of Open Access Journals (Sweden)

Gabriela Victoria ANGHELACHE

2013-11-01

Full Text Available In the mid-twentieth century, under an unprecedented growth of the business of trading in securities, the need to provide a modern framework for assessing the performance of portfolios of financial instruments was felt. To that effect, it is noted that over this period, more and more economists have attempted to develop statistical mathematical models that ensure the evaluation of profitability and portfolio risk securities. These models are considered to be part of "the modern portfolio theory".

Modern Portfolio Theory: Some Main Results

OpenAIRE

Müller, Heinz H.

2017-01-01

This article summarizes some main results in modern portfolio theory. First, the Markowitz approach is presented. Then the capital asset pricing model is derived and its empirical testability is discussed. Afterwards Neumann-Morgenstern utility theory is applied to the portfolio problem. Finally, it is shown how optimal risk allocation in an economy may lead to portfolio insurance

The Role of Agribusiness Assets in Investment Portfolios

OpenAIRE

Johnson, Michael; Malcolm, Bill; O'Connor, Ian

2006-01-01

Investment in agribusiness assets has grown significantly in recent years. The question of interest is whether including agribusiness assets in investment portfolios provide benefits. The effects of diversification by including agribusiness assets in two investment portfolios, a mixed asset portfolio and a diversified share portfolio was investigated using Markowitz’s (1952) Modern Portfolio Theory (MPT) of mean-variance optimization. To measure the performance of agribusiness assets, an in...

Performance of salmon fishery portfolios across western North America

Science.gov (United States)

Griffiths, Jennifer R; Schindler, Daniel E; Armstrong, Jonathan B; Scheuerell, Mark D; Whited, Diane C; Clark, Robert A; Hilborn, Ray; Holt, Carrie A; Lindley, Steven T; Stanford, Jack A; Volk, Eric C

2014-01-01

Quantifying the variability in the delivery of ecosystem services across the landscape can be used to set appropriate management targets, evaluate resilience and target conservation efforts. Ecosystem functions and services may exhibit portfolio-type dynamics, whereby diversity within lower levels promotes stability at more aggregated levels. Portfolio theory provides a framework to characterize the relative performance among ecosystems and the processes that drive differences in performance. We assessed Pacific salmon Oncorhynchus spp. portfolio performance across their native latitudinal range focusing on the reliability of salmon returns as a metric with which to assess the function of salmon ecosystems and their services to humans. We used the Sharpe ratio (e.g. the size of the total salmon return to the portfolio relative to its variability (risk)) to evaluate the performance of Chinook and sockeye salmon portfolios across the west coast of North America. We evaluated the effects on portfolio performance from the variance of and covariance among salmon returns within each portfolio, and the association between portfolio performance and watershed attributes. We found a positive latitudinal trend in the risk-adjusted performance of Chinook and sockeye salmon portfolios that also correlated negatively with anthropogenic impact on watersheds (e.g. dams and land-use change). High-latitude Chinook salmon portfolios were on average 2·5 times more reliable, and their portfolio risk was mainly due to low variance in the individual assets. Sockeye salmon portfolios were also more reliable at higher latitudes, but sources of risk varied among the highest performing portfolios. Synthesis and applications. Portfolio theory provides a straightforward method for characterizing the resilience of salmon ecosystems and their services. Natural variability in portfolio performance among undeveloped watersheds provides a benchmark for restoration efforts. Locally and regionally

Performance of salmon fishery portfolios across western North America.

Science.gov (United States)

Griffiths, Jennifer R; Schindler, Daniel E; Armstrong, Jonathan B; Scheuerell, Mark D; Whited, Diane C; Clark, Robert A; Hilborn, Ray; Holt, Carrie A; Lindley, Steven T; Stanford, Jack A; Volk, Eric C

2014-12-01

Quantifying the variability in the delivery of ecosystem services across the landscape can be used to set appropriate management targets, evaluate resilience and target conservation efforts. Ecosystem functions and services may exhibit portfolio-type dynamics, whereby diversity within lower levels promotes stability at more aggregated levels. Portfolio theory provides a framework to characterize the relative performance among ecosystems and the processes that drive differences in performance. We assessed Pacific salmon Oncorhynchus spp. portfolio performance across their native latitudinal range focusing on the reliability of salmon returns as a metric with which to assess the function of salmon ecosystems and their services to humans. We used the Sharpe ratio (e.g. the size of the total salmon return to the portfolio relative to its variability (risk)) to evaluate the performance of Chinook and sockeye salmon portfolios across the west coast of North America. We evaluated the effects on portfolio performance from the variance of and covariance among salmon returns within each portfolio, and the association between portfolio performance and watershed attributes. We found a positive latitudinal trend in the risk-adjusted performance of Chinook and sockeye salmon portfolios that also correlated negatively with anthropogenic impact on watersheds (e.g. dams and land-use change). High-latitude Chinook salmon portfolios were on average 2·5 times more reliable, and their portfolio risk was mainly due to low variance in the individual assets. Sockeye salmon portfolios were also more reliable at higher latitudes, but sources of risk varied among the highest performing portfolios. Synthesis and applications . Portfolio theory provides a straightforward method for characterizing the resilience of salmon ecosystems and their services. Natural variability in portfolio performance among undeveloped watersheds provides a benchmark for restoration efforts. Locally and regionally

Rhythm synchronization performance and auditory working memory in early- and late-trained musicians.

Science.gov (United States)

Bailey, Jennifer A; Penhune, Virginia B

2010-07-01

Behavioural and neuroimaging studies provide evidence for a possible "sensitive" period in childhood development during which musical training results in long-lasting changes in brain structure and auditory and motor performance. Previous work from our laboratory has shown that adult musicians who begin training before the age of 7 (early-trained; ET) perform better on a visuomotor task than those who begin after the age of 7 (late-trained; LT), even when matched on total years of musical training and experience. Two questions were raised regarding the findings from this experiment. First, would this group performance difference be observed using a more familiar, musically relevant task such as auditory rhythms? Second, would cognitive abilities mediate this difference in task performance? To address these questions, ET and LT musicians, matched on years of musical training, hours of current practice and experience, were tested on an auditory rhythm synchronization task. The task consisted of six woodblock rhythms of varying levels of metrical complexity. In addition, participants were tested on cognitive subtests measuring vocabulary, working memory and pattern recognition. The two groups of musicians differed in their performance of the rhythm task, such that the ET musicians were better at reproducing the temporal structure of the rhythms. There were no group differences on the cognitive measures. Interestingly, across both groups, individual task performance correlated with auditory working memory abilities and years of formal training. These results support the idea of a sensitive period during the early years of childhood for developing sensorimotor synchronization abilities via musical training.

Ant colony algorithm for clustering in portfolio optimization

Science.gov (United States)

Subekti, R.; Sari, E. R.; Kusumawati, R.

2018-03-01

This research aims to describe portfolio optimization using clustering methods with ant colony approach. Two stock portfolios of LQ45 Indonesia is proposed based on the cluster results obtained from ant colony optimization (ACO). The first portfolio consists of assets with ant colony displacement opportunities beyond the defined probability limits of the researcher, where the weight of each asset is determined by mean-variance method. The second portfolio consists of two assets with the assumption that each asset is a cluster formed from ACO. The first portfolio has a better performance compared to the second portfolio seen from the Sharpe index.

Financial Advice and Individual Investor Portfolio Performance

NARCIS (Netherlands)

Kramer, M.M.

2012-01-01

This paper investigates whether financial advisers add value to individual investors portfolio decisions by comparing portfolios of advised and self-directed (execution-only) Dutch individual investors. The results indicate significant differences in characteristics and portfolios between these

The Influence of a Sudden Increase in Playing Time on Playing-Related Musculoskeletal Complaints in High-Level Amateur Musicians in a Longitudinal Cohort Study

NARCIS (Netherlands)

Kok, Laura M; Haitjema, Saskia; Groenewegen, Karlijn A; Rietveld, A Boni M

2016-01-01

BACKGROUND: Several studies in the domain of professional musicians describe the relation between playing time and the occurrence of musculoskeletal complaints in professional musicians. To date, no longitudinal cohort study into this relationship has been performed and no amateur musicians were

Decentralized Portfolio Management

Directory of Open Access Journals (Sweden)

Benjamin Miranda Tabak

2003-12-01

Full Text Available We use a mean-variance model to analyze the problem of decentralized portfolio management. We find the solution for the optimal portfolio allocation for a head trader operating in n different markets, which is called the optimal centralized portfolio. However, as there are many traders specialized in different markets, the solution to the problem of optimal decentralized allocation should be different from the centralized case. In this paper we derive conditions for the solutions to be equivalent. We use multivariate normal returns and a negative exponential function to solve the problem analytically. We generate the equivalence of solutions by assuming that different traders face different interest rates for borrowing and lending. This interest rate is dependent on the ratio of the degrees of risk aversion of the trader and the head trader, on the excess return, and on the correlation between asset returns.

Descriptions of Improvisational Thinking by Artist-Level Jazz Musicians

Science.gov (United States)

Norgaard, Martin

2011-01-01

Thought processes of seven artist-level jazz musicians, each of whom recorded an improvised solo, were investigated. Immediately after completing their improvisations, participants listened to recordings of their playing and looked at the notation of their solos as they described in a directed interview the thinking processes that led to the…

Jazz Musicians as Academic Leaders: Improvisation in Higher Education

Science.gov (United States)

Kleinschmidt, Robert A.

2011-01-01

Jazz musicians are unique individuals who seek to perform from a transcendental state in which tacit knowledge, teamwork, and communication blend to produce an effective performance. Academic leaders are also unique individuals who rely on communication to generate a sense of inclusion within a complex organization that at times epitomizes…

Optimal Portfolio Rebalancing Strategy : Evidence from Finnish Stocks

OpenAIRE

Savage, Akinwunmi

2010-01-01

Portfolio rebalancing is an established concept in portfolio management and investing generally. Assets within a portfolio have different return and risk prospects, and this inevitably leads them to drift away from their initial allocation weights overtime. Portfolio rebalancing is arguably the only method by which such assets can be reset to their initial weights, thus ensuring the portfolio reflects the risk appetite of the investor. Like many other concepts and practices in finance, portfo...

A Motion Capture Study to Measure the Feeling of Synchrony in Romantic Couples and in Professional Musicians

KAUST Repository

Preissmann, Delphine

2016-10-27

The feeling of synchrony is fundamental for most social activities and prosocial behaviors. However, little is known about the behavioral correlates of this feeling and its modulation by intergroup differences. We previously showed that the subjective feeling of synchrony in subjects involved in a mirror imitation task was modulated by objective behavioral measures, as well as contextual factors such as task difficulty and duration of the task performance. In the present study, we extended our methodology to investigate possible interindividual differences. We hypothesized that being in a romantic relationship or being a professional musician can modulate both implicit and explicit synchronization and the feeling of synchrony as well as the ability to detect synchrony from a third person perspective. Contrary to our hypothesis, we did not find significant differences between people in a romantic relationship and control subjects. However, we observed differences between musicians and control subjects. For the implicit synchrony (spontaneous synchronization during walking), the results revealed that musicians that had never met before spontaneously synchronized their movements earlier among themselves than control subjects, but not better than people sharing a romantic relationship. Moreover, in explicit behavioral synchronization tasks (mirror game), musicians reported earlier feeling of synchrony and had less speed errors than control subjects. This was in interaction with tasks difficulty as these differences appeared only in tasks with intermediate difficulty. Finally, when subjects had to judge synchrony from a third person perspective, musicians had a better performance to identify if they were present or not in the videos. Taken together, our results suggest that being a professional musician can play a role in the feeling of synchrony and its underlying mechanisms. © 2016 Preissmann, Charbonnier, Chagué, Antonietti, Llobera, Ansermet and Magistretti.

A Relationship Strategy Perspective on Relationship Portfolios

DEFF Research Database (Denmark)

Ritter, Thomas; Andersen, Henrik

2014-01-01

The paper develops a three-dimensional portfolio model for business relationships which distinguishes among six different categories. Based on assessments of customer profitability, customer commitment, and growth potential, the positioning of a given customer relationship in the portfolio allows...... managers to determine appropriate customer relationship strategies and appropriate performance indicators. Results from applying the portfolio model are reported and managerial implications and future research are discussed.......The paper develops a three-dimensional portfolio model for business relationships which distinguishes among six different categories. Based on assessments of customer profitability, customer commitment, and growth potential, the positioning of a given customer relationship in the portfolio allows...

12 CFR 1252.1 - Enterprise portfolio holding criteria.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Enterprise portfolio holding criteria. 1252.1 Section 1252.1 Banks and Banking FEDERAL HOUSING FINANCE AGENCY ENTERPRISES PORTFOLIO HOLDINGS § 1252.1 Enterprise portfolio holding criteria. The Enterprises are required to comply with the portfolio holdings...

Temporal interaction between an artificial orchestra conductor and human musicians

NARCIS (Netherlands)

Reidsma, Dennis; Nijholt, Antinus; Bos, Pieter

2008-01-01

The Virtual Conductor project concerns the development of the first properly interactive virtual orchestra conductor—a Virtual Human that can conduct a piece of music through interaction with musicians, leading and following them while they are playing. This article describes our motivation for

The Role of Personality in Musicians' Information Seeking for Creativity

Science.gov (United States)

Kostagiolas, Petros; Lavranos, Charilaos; Martzoukou, Konstantina; Papadatos, Joseph

2017-01-01

Introduction: This paper explores the relationship between musicians' information seeking behaviour and their personality traits within the context of musical creativity. Although previous research has addressed different socio-technological and behavioral aspects of music information seeking, the role of personality characteristics around…

PRODUCT PORTFOLIO ANALYSIS - ARTHUR D. LITTLE MATRIX

Directory of Open Access Journals (Sweden)

Curmei Catalin Valeriu

2011-07-01

Full Text Available In recent decades we have witnessed an unseen dynamism among companies, which is explained by their desire to engage in more activities that provide a high level of development and diversification. Thus, as companies are diversifying more and more, their managers confront a number of challenges arising from the management of resources for the product portfolio and the low level of resources with which companies can identify, at a time. Responding to these challenges, over time were developed a series of analytical product portfolio methods through which managers can balance the sources of cash flows from the multiple products and also can identify the place and role of products, in strategic terms, within the product portfolio. In order to identify these methods the authors of the present paper have conducted a desk research in order to analyze the strategic marketing and management literature of the last 2 decades. Widely were studied a series of methods that are presented in the marketing and management literature as the main instruments used within the product portfolio strategic planning process. Among these methods we focused on the Arthur D. Little matrix. Thus the present paper has the purpose to outline the characteristics and strategic implications of the ADL matrix within a company’s product portfolio. After conducting this analysis we have found that restricting the product portfolio analysis to the A.D.L. matrix is not a very wise decision. The A.D.L. matrix among with other marketing tools of product portfolio analysis have some advantages and disadvantages and is trying to provide, at a time, a specific diagnosis of a company’s product portfolio. Therefore, the recommendation for the Romanian managers consists in a combined use of a wide range of tools and techniques for product portfolio analysis. This leads to a better understanding of the whole mix of product markets, included in portfolio analysis, the strategic position

METHODICAL BASES OF MANAGEMENT OF INSURANCE PORTFOLIO

Directory of Open Access Journals (Sweden)

Serdechna Yulia

2018-01-01

Full Text Available Introduction. Despite the considerable arsenal of developments in the issues of assessing the management of the insurance portfolio remains unresolved. In order to detail, specify and further systematize the indicators for the indicated evaluation, the publications of scientists are analyzed. The purpose of the study is to analyze existing methods by which it is possible to formulate and manage the insurance portfolio in order to achieve its balance, which will contribute to ensuring the financial reliability of the insurance company. Results. The description of the essence of the concept of “management of insurance portfolio”, as the application of actuarial methods and techniques to the combination of various insurance risks offered for insurance or are already part of the insurance portfolio, allowing to adjust the size and structure of the portfolio in order to ensure its financial stability, achievement the maximum level of income of an insurance organization, preservation of the value of its equity and financial security of insurance liabilities. It is determined that the main methods by which the insurer’s insurance portfolio can be formed and managed is the selection of risks; reinsurance operations that ensure diversification of risks; formation and placement of insurance reserves, which form the financial basis of insurance activities. The method of managing an insurance portfolio, which can be both active and passive, is considered. Conclusions. It is determined that the insurance portfolio is the basis on which all the activities of the insurer are based and which determines its financial stability. The combination of methods and technologies applied to the insurance portfolio is a management method that can be both active and passive and has a number of specific methods through which the insurer’s insurance portfolio can be formed and managed. It is substantiated that each insurance company aims to form an efficient and

Mean-Reverting Portfolio With Budget Constraint

Science.gov (United States)

Zhao, Ziping; Palomar, Daniel P.

2018-05-01

This paper considers the mean-reverting portfolio design problem arising from statistical arbitrage in the financial markets. We first propose a general problem formulation aimed at finding a portfolio of underlying component assets by optimizing a mean-reversion criterion characterizing the mean-reversion strength, taking into consideration the variance of the portfolio and an investment budget constraint. Then several specific problems are considered based on the general formulation, and efficient algorithms are proposed. Numerical results on both synthetic and market data show that our proposed mean-reverting portfolio design methods can generate consistent profits and outperform the traditional design methods and the benchmark methods in the literature.

Reliability of Portfolio: A Closer Look at Findings from Recent Publications

Science.gov (United States)

Oskay, Ozge Ozyalcin; Schallies, Michael; Morgil, Inci

2008-01-01

In this review article, conventional portfolio assessment and new developments in portfolio assessment are investigated. The concept of portfolio, portfolio building steps, contents of portfolio, evaluation of portfolio, advantages, disadvantages and concerns in using portfolio as well as validity and reliability of portfolio assessment are…

Noise exposure levels for musicians during rehearsal and performance times.

Science.gov (United States)

McIlvaine, Devon; Stewart, Michael; Anderson, Robert

2012-03-01

The purpose of this study was to determine daily noise doses and 8-hour time weighted averages for rock band musicians, crew members, and spectators during a typical rehearsal and performance using both Occupational Safety and Health Administration (OSHA) and National Institute of Occupational Safety and Health (NIOSH) measurement criteria. Personal noise dosimetry was completed on five members of a rock band during one 2-hr rehearsal and one 4-hr performance. Time-weighted averages (TWA) and daily dose values were calculated using both OSHA and NIOSH criteria and compared to industry guidelines for enrollment in hearing conservation programs and the use of hearing protection devices. TWA values ranged from 84.3 to 90.4 dBA (OSHA) and from 90.0 to 96.4 dBA (NIOSH) during the rehearsal. The same values ranged from 91.0 to 99.7 dBA (OSHA) and 94.0 to 102.8 dBA (NIOSH) for the performance. During the rehearsal, daily noise doses ranged from 45.54% to 106.7% (OSHA) and from 317.74% to 1396.07% (NIOSH). During the performance, doses ranged from 114.66% to 382.49% (OSHA) and from 793.31% to 5970.15% (NIOSH). The musicians in this study were exposed to dangerously high levels of noise and should be enrolled in a hearing conservation programs. Hearing protection devices should be worn, especially during performances. The OSHA measurement criteria yielded values significantly more conservative than those produced by NIOSH criteria. Audiologists should counsel musician-patients about the hazards of excessive noise (music) exposure and how to protect their hearing.

Vast Portfolio Selection with Gross-exposure Constraints().

Science.gov (United States)

Fan, Jianqing; Zhang, Jingjin; Yu, Ke

2012-01-01

We introduce the large portfolio selection using gross-exposure constraints. We show that with gross-exposure constraint the empirically selected optimal portfolios based on estimated covariance matrices have similar performance to the theoretical optimal ones and there is no error accumulation effect from estimation of vast covariance matrices. This gives theoretical justification to the empirical results in Jagannathan and Ma (2003). We also show that the no-short-sale portfolio can be improved by allowing some short positions. The applications to portfolio selection, tracking, and improvements are also addressed. The utility of our new approach is illustrated by simulation and empirical studies on the 100 Fama-French industrial portfolios and the 600 stocks randomly selected from Russell 3000.

Designing Modern Equity Portfolios

OpenAIRE

Ronald Jean Degen

2011-01-01

This aim of this paper is to describe possible ways of investing in equity; choosing the right stocks(among small-cap, large-cap, value, growth, and foreign) using fundamental analysis, defining their appropriate mix in the portfolios according to the desired return-risk profiles based on Markowitz?s modern portfolio theory, and using technical analysis to buy and sell them.

Portfolio optimization with skewness and kurtosis

Science.gov (United States)

Lam, Weng Hoe; Jaaman, Saiful Hafizah Hj.; Isa, Zaidi

2013-04-01

Mean and variance of return distributions are two important parameters of the mean-variance model in portfolio optimization. However, the mean-variance model will become inadequate if the returns of assets are not normally distributed. Therefore, higher moments such as skewness and kurtosis cannot be ignored. Risk averse investors prefer portfolios with high skewness and low kurtosis so that the probability of getting negative rates of return will be reduced. The objective of this study is to compare the portfolio compositions as well as performances between the mean-variance model and mean-variance-skewness-kurtosis model by using the polynomial goal programming approach. The results show that the incorporation of skewness and kurtosis will change the optimal portfolio compositions. The mean-variance-skewness-kurtosis model outperforms the mean-variance model because the mean-variance-skewness-kurtosis model takes skewness and kurtosis into consideration. Therefore, the mean-variance-skewness-kurtosis model is more appropriate for the investors of Malaysia in portfolio optimization.

Managing R&D Alliance Portfolios

DEFF Research Database (Denmark)

Engel Nielsen, Lars; Mahnke, Volker

2003-01-01

be observed in several companies engaged in the cross section of telecommunication and mobile technology where increased complexity magnifies managerial challenges. Drawing on modern portfolio theory, this paper offers a model for managing portfolios of R&D alliances. In particular, an analysis...

The Finite and Moving Order Multinomial Universal Portfolio

International Nuclear Information System (INIS)

Tan, Choon Peng; Pang, Sook Theng

2013-01-01

An upper bound for the ratio of wealths of the best constant -rebalanced portfolio to that of the multinomial universal portfolio is derived. The finite- order multinomial universal portfolios can reduce the implementation time and computer-memory requirements for computation. The improved performance of the finite-order portfolios on some selected local stock-price data sets is observed.

Correlation risk and optimal portfolio choice

OpenAIRE

Buraschi, Andrea; Porchia, Paolo; Trojani, Fabio

2010-01-01

We develop a new framework for multivariate intertemporal portfolio choice that allows us to derive optimal portfolio implications for economies in which the degree of correlation across industries, countries, or asset classes is stochastic. Optimal portfolios include distinct hedging components against both stochastic volatility and correlation risk. We find that the hedging demand is typically larger than in univariate models, and it includes an economically significant covariance hedging...

Essays on Rational Portfolio Theory

DEFF Research Database (Denmark)

Nielsen, Simon Ellersgaard

market prices, we findonly a very modest improvement in portfolio wealth over the corresponding strategy whichonly trades in bonds and stocks. Optimal Hedge Tracking Portfolios in a Limit Order Book. In this paper we developa control theoretic solution to the manner in which a portfolio manager optimally...... shouldtrack a targeted D, given that he wishes to hedge a short position in European call optionsthe underlying of which is traded in a limit order book. Specifically, we are interested in theinterplay between posting limit and market orders respectively: when should the portfoliomanager do what (and at what......’s theory of optimal portfolio selection for wealth maximisingagents. In this paper we present a systematic analysis of the optimal asset allocation in aderivative-free market for the Heston model, the 3/2 model, and a Fong Vasicek type model.Under the assumption that the market price of risk...

Digital Portfolio: a Strategy for Teachers Professional Development

Directory of Open Access Journals (Sweden)

R. Jans

2008-03-01

Full Text Available Teachers have to work with e-portfolio with theirstudents. This is a very demanding task because they neverwere educated with e-portfolio themselves. Therefore aEuropean Comenius project was submitted in 2005. In thisapproved project a whole week formation (april 2007 wasoffered to nineteen teachers from all over Europe. A yearlater they will meet again to see in what way the course hashad effects on their work with e-portfolio and students.Most interesting to notice was that the basic ICT-skills ofteachers are nowadays realized. However teachers are stillbusy with text and text-files. Rarely they uploadedmultimedia, like e.g. photo’s, video’s, youtube-movies, … intheir e-portfolio. The essential element of an e-portfolio, thepersonal and professional development plan, that forms thebackbone of the e-portfolio and offers the possibility tomake the e-portfolio an effective learning instrument wasunknown.

Virtual Reality Exposure Training for Musicians: Its Effect on Performance Anxiety and Quality.

Science.gov (United States)

Bissonnette, Josiane; Dubé, Francis; Provencher, Martin D; Moreno Sala, Maria T

2015-09-01

Music performance anxiety affects numerous musicians, with many of them reporting impairment of performance due to this problem. This exploratory study investigated the effects of virtual reality exposure training on students with music performance anxiety. Seventeen music students were randomly assigned to a control group (n=8) or a virtual training group (n=9). Participants were asked to play a musical piece by memory in two separate recitals within a 3-week interval. Anxiety was then measured with the Personal Report of Confidence as a Performer Scale and the S-Anxiety scale from the State-Trait Anxiety Inventory (STAI-Y). Between pre- and post-tests, the virtual training group took part in virtual reality exposure training consisting of six 1-hour long sessions of virtual exposure. The results indicate a significant decrease in performance anxiety for musicians in the treatment group for those with a high level of state anxiety, for those with a high level of trait anxiety, for women, and for musicians with high immersive tendencies. Finally, between the pre- and post-tests, we observed a significant increase in performance quality for the experimental group, but not for the control group.

Parametric Portfolio Policies with Common Volatility Dynamics

DEFF Research Database (Denmark)

Ergemen, Yunus Emre; Taamouti, Abderrahim

A parametric portfolio policy function is considered that incorporates common stock volatility dynamics to optimally determine portfolio weights. Reducing dimension of the traditional portfolio selection problem significantly, only a number of policy parameters corresponding to first- and second......-order characteristics are estimated based on a standard method-of-moments technique. The method, allowing for the calculation of portfolio weight and return statistics, is illustrated with an empirical application to 30 U.S. industries to study the economic activity before and after the recent financial crisis....

Vast Portfolio Selection with Gross-exposure Constraints*

Science.gov (United States)

Fan, Jianqing; Zhang, Jingjin; Yu, Ke

2012-01-01

We introduce the large portfolio selection using gross-exposure constraints. We show that with gross-exposure constraint the empirically selected optimal portfolios based on estimated covariance matrices have similar performance to the theoretical optimal ones and there is no error accumulation effect from estimation of vast covariance matrices. This gives theoretical justification to the empirical results in Jagannathan and Ma (2003). We also show that the no-short-sale portfolio can be improved by allowing some short positions. The applications to portfolio selection, tracking, and improvements are also addressed. The utility of our new approach is illustrated by simulation and empirical studies on the 100 Fama-French industrial portfolios and the 600 stocks randomly selected from Russell 3000. PMID:23293404

Increased gray matter volume of left pars opercularis in male orchestral musicians correlate positively with years of musical performance.

Science.gov (United States)

Abdul-Kareem, Ihssan A; Stancak, Andrej; Parkes, Laura M; Sluming, Vanessa

2011-01-01

To compare manual volumetry of gray matter (GM) / white matter (WM) of Broca's area subparts: pars opercularis (POP) and pars triangularis (PTR) in both hemispheres between musicians and nonmusician, as it has been shown that these regions are crucial for musical abilities. A previous voxel-based morphometric (VBM) study conducted in our laboratory reported increased GM density in Broca's area of left hemisphere in male orchestral musicians. Functional segregation of POP/PTR justified separate volumetric analysis of these parts. We used the same cohort for the VBM study. Manual morphometry (stereology) was used to compare volumes between 26/26 right-handed orchestral musicians/nonmusicians. As expected, musicians showed significantly increased GM volume in the Broca's area, specifically in the left POP. No significant results were detected in right POP, left/right PTR GM volumes, and WM volumes for all regions. Results were positively correlated with years of musical performance (r = 0.7, P = 0.0001). This result corroborates the VBM study and is in line with the hypothesis of critical involvement of POP in hearing-action integration being an integral component of frontoparietotemporal mirror neuron network. We hypothesize that increased size of musicians' left POP represent use-dependent structural adaptation in response to intensive audiomotor skill acquisition. Copyright © 2010 Wiley-Liss, Inc.

Portfolio optimization retail investor

Directory of Open Access Journals (Sweden)

I. А. Kiseleva

2016-01-01

Full Text Available The article notes that the task of the investor's risk management is to, on the one hand, as much as possible to strive to achieve the criterion of risk level, and on the other hand, in any case not exceed it. Since the domestic theory of risk management is under development, the problem of the optimal ratio of "risk-income" becomes now of particular relevance. This article discusses the different distribution areas of the private investor in order to obtain the maximum profit. The analysis showed us the overall economic and political system of the country, as well as the legislative provision of guarantees to the investor. To obtain sufficient income and reduce losses it is important to maintain the optimum value found between the amount of the investor's risk and capital transactions. Model of optimal placement of funds led to the conclusion about inexpediency strong increase in the diversification of the investment portfolio (more than 10 different types of assets in the portfolio, since it increases the complexity of its practical form, while the portfolio characteristics are improved significantly. It is concluded that it is impossible to increase revenue without increasing the risk or reduce risk without reducing income. The analysis shows that there is no single best asset portfolio. It is impossible to increase revenue without increasing the risk or reduce risk without reducing income. Possible combination of the "riskincome" will depend on the objective function. Most diversified and bringing the best return per unit of risk, is a portfolio that contains the most risky assets.

Portfolio optimization and performance evaluation

DEFF Research Database (Denmark)

Juhl, Hans Jørn; Christensen, Michael

2013-01-01

Based on an exclusive business-to-business database comprising nearly 1,000 customers, the applicability of portfolio analysis is documented, and it is examined how such an optimization analysis can be used to explore the growth potential of a company. As opposed to any previous analyses, optimal...... customer portfolios are determined, and it is shown how marketing decision-makers can use this information in their marketing strategies to optimize the revenue growth of the company. Finally, our analysis is the first analysis which applies portfolio based methods to measure customer performance......, and it is shown how these performance measures complement the optimization analysis....

Using Electronic Portfolios for Second Language Assessment

Science.gov (United States)

Cummins, Patricia W.; Davesne, Celine

2009-01-01

Portfolio assessment as developed in Europe presents a learner-empowering alternative to computer-based testing. The authors present the European Language Portfolio (ELP) and its American adaptations, LinguaFolio and the Global Language Portfolio, as tools to be used with the Common European Framework of Reference for languages and the American…

Evidence for Enhanced Interoceptive Accuracy in Professional Musicians

OpenAIRE

Schirmer-Mokwa, Katharina L.; Fard, Pouyan R.; Zamorano, Anna M.; Finkel, Sebastian; Birbaumer, Niels; Kleber, Boris A.

2015-01-01

Interoception is defined as the perceptual activity involved in the processing of internal bodily signals. While the ability of internal perception is considered a relatively stable trait, recent data suggest that learning to integrate multisensory information can modulate it. Making music is a uniquely rich multisensory experience that has shown to alter motor, sensory, and multimodal representations in the brain of musicians. We hypothesize that musical training also heightens interoceptive...

Evidence for enhanced interoceptive accuracy in professional musicians

OpenAIRE

Katharina eSchirmer-Mokwa; Pouyan Rafiei Fard; Anna Maria Zamorano; Sebastian eFinkel; Niels eBirbaumer; Niels eBirbaumer; Boris Alexander Kleber

2015-01-01

Interoception is defined as the perceptual activity involved in the processing of internal bodily signals. While the ability of internal perception is considered a relatively stable trait, recent data suggest that learning to integrate multisensory information can modulate it. Making music is a uniquely rich multisensory experience that has shown to alter motor, sensory, and multimodal representations in the brain of musicians. We hypothesize that musical training also heightens interoceptive...

Robust Portfolio Optimization Using Pseudodistances

Science.gov (United States)

2015-01-01

The presence of outliers in financial asset returns is a frequently occurring phenomenon which may lead to unreliable mean-variance optimized portfolios. This fact is due to the unbounded influence that outliers can have on the mean returns and covariance estimators that are inputs in the optimization procedure. In this paper we present robust estimators of mean and covariance matrix obtained by minimizing an empirical version of a pseudodistance between the assumed model and the true model underlying the data. We prove and discuss theoretical properties of these estimators, such as affine equivariance, B-robustness, asymptotic normality and asymptotic relative efficiency. These estimators can be easily used in place of the classical estimators, thereby providing robust optimized portfolios. A Monte Carlo simulation study and applications to real data show the advantages of the proposed approach. We study both in-sample and out-of-sample performance of the proposed robust portfolios comparing them with some other portfolios known in literature. PMID:26468948

Does health affect portfolio choice?

Science.gov (United States)

Love, David A; Smith, Paul A

2010-12-01

A number of recent studies find that poor health is empirically associated with a safer portfolio allocation. It is difficult to say, however, whether this relationship is truly causal. Both health status and portfolio choice are influenced by unobserved characteristics such as risk attitudes, impatience, information, and motivation, and these unobserved factors, if not adequately controlled for, can induce significant bias in the estimates of asset demand equations. Using the 1992-2006 waves of the Health and Retirement Study, we investigate how much of the connection between health and portfolio choice is causal and how much is due to the effects of unobserved heterogeneity. Accounting for unobserved heterogeneity with fixed effects and correlated random effects models, we find that health does not appear to significantly affect portfolio choice among single households. For married households, we find a small effect (about 2-3 percentage points) from being in the lowest of five self-reported health categories. Copyright © 2009 John Wiley & Sons, Ltd.

Robust Portfolio Optimization Using Pseudodistances.

Science.gov (United States)

Toma, Aida; Leoni-Aubin, Samuela

2015-01-01

The presence of outliers in financial asset returns is a frequently occurring phenomenon which may lead to unreliable mean-variance optimized portfolios. This fact is due to the unbounded influence that outliers can have on the mean returns and covariance estimators that are inputs in the optimization procedure. In this paper we present robust estimators of mean and covariance matrix obtained by minimizing an empirical version of a pseudodistance between the assumed model and the true model underlying the data. We prove and discuss theoretical properties of these estimators, such as affine equivariance, B-robustness, asymptotic normality and asymptotic relative efficiency. These estimators can be easily used in place of the classical estimators, thereby providing robust optimized portfolios. A Monte Carlo simulation study and applications to real data show the advantages of the proposed approach. We study both in-sample and out-of-sample performance of the proposed robust portfolios comparing them with some other portfolios known in literature.

General Health Status, Music Performance Anxiety, and Coping Methods of Musicians Working in Turkish State Symphony Orchestras: A Cross-Sectional Study.

Science.gov (United States)

Topoğlu, Onur; Karagülle, Derya; Keskin, Tuba U; Abacigil, Filiz; Okyay, Pinar

2018-06-01

This study assessed the general health, music performance anxiety (MPA), and coping methods of musicians working in six state orchestras in Turkey. All musicians working in the state symphony orchestras (n=384) were invited to participate in the study. In face-to-face interviews, the authors administered a questionnaire, which consisted of five sections: sociodemographic information, history of musical performance, health status, general health questionnaire-12 (GHQ-12), and MPA scale. Mann-Whitney U-test, Student's t-test, and Spearman's correlation test were used to analyze the questionnaire data. The 220 musicians who participated included 121 (55%) males and 99 (45%) females, with a mean age of 42.4±11.3 yrs. For musculoskeletal symptoms, 87.6% reported at least one symptom with the most common being pain. For general health status, the GHQ-12 showed 64% of musicians were at low risk, 18.7% at moderate risk, and 17.3% at high risk in terms of mental health. The prevalence of MPA before or during performance was 81.8%, and 60% of musicians stated that performance anxiety negatively affected their performances. Results indicate that musicians working in Turkish state symphony orchestras encounter numerous health problems (tinnitus, hearing loss, musculoskeletal symptoms, etc.) due to their profession. No specific health support is provided, especially education and health service provision.

The type k universal portfolio generated by the f-divergence

Science.gov (United States)

Tan, Choon Peng; Seng, Kuang Kee

2017-11-01

The logarithm of the estimated next-day wealth return is approximated by k terms of its Taylor series. The resulting Type k universal portfolio generated by the f -divergence is obtained. An implicit form of the portfolio is also obtained by exploiting the mean-value theorem. An empirical study of the performance of the portfolio is focused on the Type 2 Helmbold universal portfolio. A few generalizations of the Helmbold universal portfolio have recently been studied, namely the reverse Helmbold and the parametric Helmbold portfolios. This new type of portfolio can be regarded a contribution to the inventory of Helmbold related universal portfolios. It is verified experimentally that an investor's wealth can be significantly increased by using the Type 2 Helmbold portfolio in investment.

Model to Estimate Monthly Time Horizons for Application of DEA in Selection of Stock Portfolio and for Maintenance of the Selected Portfolio

Directory of Open Access Journals (Sweden)

José Claudio Isaias

2015-01-01

Full Text Available In the selecting of stock portfolios, one type of analysis that has shown good results is Data Envelopment Analysis (DEA. It, however, has been shown to have gaps regarding its estimates of monthly time horizons of data collection for the selection of stock portfolios and of monthly time horizons for the maintenance of a selected portfolio. To better estimate these horizons, this study proposes a model of mathematical programming binary of minimization of square errors. This model is the paper’s main contribution. The model’s results are validated by simulating the estimated annual return indexes of a portfolio that uses both horizons estimated and of other portfolios that do not use these horizons. The simulation shows that portfolios with both horizons estimated have higher indexes, on average 6.99% per year. The hypothesis tests confirm the statistically significant superiority of the results of the proposed mathematical model’s indexes. The model’s indexes are also compared with portfolios that use just one of the horizons estimated; here the indexes of the dual-horizon portfolios outperform the single-horizon portfolios, though with a decrease in percentage of statistically significant superiority.

ALPHA-BETA SEPARATION PORTFOLIO STRATEGIES FOR ISLAMIC FINANCE

Directory of Open Access Journals (Sweden)

Valentyn Khokhlov

2016-11-01

Full Text Available The purpose of this paper is to develop a mathematical alpha-beta separation model that can be used to create a core-satellite portfolio management strategy that complies with the principles of Islamic finance. Methodology. Core-satellite portfolio construction methodology is used to implement the alpha-beta separation approach, where the core part of the portfolio is managed using the tracking error minimization strategy, and the satellite part of the portfolio is managed using the mean-variance optimization strategy. Results of the portfolio dynamics clearly show that a significant amount of value was created by alpha-beta separation. The typical alpha ranges from 4% to 5.7%. The most aggressive portfolio strategies that allow short positions in the satellite portfolio work best with frequent rebalancing and benefit from the active bets. Smoothing technique that was introduced to decrease the portfolio turnover and stabilize its composition works better when active bets are less efficient, particularly with less frequent rebalancing. The best risk-return combinations are achieved with modest (3% to 10% allocation of the total portfolio to the satellite, and the remaining part (90% to 97% being managed in order to minimize the tracking error. Practical implications. The alpha-beta separation framework suggested in this paper can be used to enhance the portfolio management techniques for the hedge funds that operate under tight restrictions, particularly under the Islamic finance principles. The mathematical models developed in this paper allow practical implementation of the alphabeta separation concept. Originality/value. While the idea of alpha-beta separation existed in hedge fund management before, there was no comprehensive mathematical model under it, so its implementation was based on the ad hoc approach. This paper introduces such a mathematical model and demonstrates how portfolio managers can create value for their clients using it.

Portfolio Assessment: Production and Reduction of Complexity

DEFF Research Database (Denmark)

Keiding, Tina Bering; Qvortrup, Ane

2015-01-01

Over the last two decades, the education system has witnessed a shift from summative, product-oriented assessment towards formative, process-oriented assessment. Among the different learning and assessment initiatives introduced in the slipstream of this paradigmatic turn, the portfolio seems...... to have become one of the most popular. By re-describing the portfolio from a systems theoretical point of view, this article discusses established expectations of the portfolio in relation to transparency in learning, reflexivity and self-assessment. It shows that the majority of the literature deals...... with what-questions and that the portfolio is expected to handle a number of challenges with regard to the documentation of learning processes and achievements as well as the conditioning of learning activities. Furthermore, is becomes clear that descriptions of how the portfolio works are sparse. Based...

Performance of finite order distribution-generated universal portfolios

Science.gov (United States)

Pang, Sook Theng; Liew, How Hui; Chang, Yun Fah

2017-04-01

A Constant Rebalanced Portfolio (CRP) is an investment strategy which reinvests by redistributing wealth equally among a set of stocks. The empirical performance of the distribution-generated universal portfolio strategies are analysed experimentally concerning 10 higher volume stocks from different categories in Kuala Lumpur Stock Exchange. The time interval of study is from January 2000 to December 2015, which includes the credit crisis from September 2008 to March 2009. The performance of the finite-order universal portfolio strategies has been shown to be better than Constant Rebalanced Portfolio with some selected parameters of proposed universal portfolios.

Reflection during Portfolio-Based Conversations

Science.gov (United States)

Oosterbaan, Anne E.; van der Schaaf, Marieke F.; Baartman, Liesbeth K. J.; Stokking, Karel M.

2010-01-01

This study aims to explore the relationship between the occurrence of reflection (and non-reflection) and thinking activities (e.g., orientating, selecting, analysing) during portfolio-based conversations. Analysis of 21 transcripts of portfolio-based conversations revealed that 20% of the segments were made up of reflection (content reflection…

ePortfolio & learning styles in Nursing Education

DEFF Research Database (Denmark)

Nielsen, Kirsten; Helms, Niels Henrik; Pedersen, Birthe D.

2012-01-01

Background Examination of the literature shows both advantages and disadvantages in implementing ePortfolio and learning styles in Nursing Education. The students reflect on nursing practice as well as on their strengths and weaknesses, and reflecting in the portfolio increases self-awareness, pe......Background Examination of the literature shows both advantages and disadvantages in implementing ePortfolio and learning styles in Nursing Education. The students reflect on nursing practice as well as on their strengths and weaknesses, and reflecting in the portfolio increases self...... in clinical settings. Insight into preferred learning style can be an advantage to both students and preceptors in attempt to promote students´ learning potential, but there are quite many different theoretical approaches and definitions of the concept, and reviewers call attention to the risk that teachers...... to intensify the differentiated guidance of students, and developed an ePortfolio which aim to facilitate four learning styles as described by Honey and Mumford. It was tested in a pilot project and now, a qualitative study of how learning is mediated in clinical education through this ePortfolio is passing...

Beating the market with small portfolios: Evidence from Brazil

Directory of Open Access Journals (Sweden)

André A.P. Santos

2015-01-01

Full Text Available Optimal portfolios with a restriction on the number of assets, also referred to as cardinality-constrained portfolios, have been receiving attention in the literature due to its popularity among market practitioners and retail investors. In most cases, however, the interest is in proposing efficient optimization methods to solve the problem, with little or no attention to the characteristics of the resulting portfolio such as risk-adjusted performance and turnover. We address this question by implementing a tractable reformulation of the cardinality-constrained version of the minimum variance portfolio. We analyze the out-of-sample performance of cardinality-constrained portfolios according to alternative criteria and check the robustness of the results for portfolios with alternative number of assets and under alternative re-balancing frequencies. Our empirical application for the Brazilian equities market shows that cardinality-constrained minimum variance portfolios with very few assets, e.g. 3 stocks, can deliver statistically lower portfolio risk and higher Sharpe ratios in comparison to the market index. Similar results are obtained for constrained portfolios with 5 and 10 assets and under daily, weekly, and monthly re-balancing frequencies. Our evidence indicates that it is possible to obtain better risk-adjusted performance with fewer securities in the portfolio by using an improved allocation scheme.

Construction of uncertainty sets for portfolio selection problems

OpenAIRE

Wiechers, Christof

2011-01-01

While modern portfolio theory grounds on the trade-off between portfolio return and portfolio variance to determine the optimal investment decision, postmodern portfolio theory uses downside risk measures instead of the variance. Prominent examples are given by the risk measures Value-at-Risk and its coherent extension, Conditional Value-at-Risk. When avoiding distributional assumptions on the process that generates the risky assets' returns, historical return data or expert knowledge remain ...

Formal Method of Description Supporting Portfolio Assessment

Science.gov (United States)

Morimoto, Yasuhiko; Ueno, Maomi; Kikukawa, Isao; Yokoyama, Setsuo; Miyadera, Youzou

2006-01-01

Teachers need to assess learner portfolios in the field of education. However, they need support in the process of designing and practicing what kind of portfolios are to be assessed. To solve the problem, a formal method of describing the relations between the lesson forms and portfolios that need to be collected and the relations between…

7 CFR 4290.760 - How a change in size or activity of a Portfolio Concern affects the RBIC and the Portfolio Concern.

Science.gov (United States)

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false How a change in size or activity of a Portfolio Concern affects the RBIC and the Portfolio Concern. 4290.760 Section 4290.760 Agriculture Regulations of... size or activity of a Portfolio Concern affects the RBIC and the Portfolio Concern. (a) Effect on RBIC...

Making practice transparent through e-portfolio.

Science.gov (United States)

Stewart, Sarah M

2013-12-01

Midwives are required to maintain a professional portfolio as part of their statutory requirements. Some midwives are using open social networking tools and processes to develop an e-portfolio. However, confidentiality of patient and client data and professional reputation have to be taken into consideration when using online public spaces for reflection. There is little evidence about how midwives use social networking tools for ongoing learning. It is uncertain how reflecting in an e-portfolio with an audience impacts on learning outcomes. This paper investigates ways in which reflective midwifery practice be carried out using e-portfolio in open, social networking platforms using collaborative processes. Using an auto-ethnographic approach I explored my e-portfolio and selected posts that had attracted six or more comments. I used thematic analysis to identify themes within the textual conversations in the posts and responses posted by readers. The analysis identified that my collaborative e-portfolio had four themes: to provide commentary and discuss issues; to reflect and process learning; to seek advice, brainstorm and process ideas for practice, projects and research, and provide evidence of professional development. E-portfolio using open social networking tools and processes is a viable option for midwives because it facilitates collaborative reflection and shared learning. However, my experience shows that concerns about what people think, and client confidentiality does impact on the nature of open reflection and learning outcomes. I conclude this paper with a framework for managing midwifery statutory obligations using online public spaces and social networking tools. Copyright © 2013 Australian College of Midwives. Published by Elsevier Ltd. All rights reserved.

Analysis of the energy portfolio for electricity generation

International Nuclear Information System (INIS)

Ramirez S, J. R.; Alonso V, G.; Esquivel E, J.

2016-09-01

The planning of electricity generation systems considers several factors that must be taken into account in order to design systems that are economical, reliable and sustainable. For this purpose, the Financial Portfolio Theory is applicable to the energy portfolio or the diversification of electricity generation technologies, such as is the combined cycle, wind, thermoelectric and nuclear. This paper presents an application of the Portfolio Theory to the national energy system, based on the total generation costs for each technology, which allows determining the average variance portfolio and the respective share of each of the electricity generation technologies considered, obtaining a portfolio of electricity generation with the maximum possible return for the risk taken in the investments. This paper describes the basic aspects of the Portfolio Theory and its methodology, in which matrices are implemented for the solution of the resulting Lagrange system. (Author)

The occurrence of musculoskeletal complaints among professional musicians : a systematic review

NARCIS (Netherlands)

Kok, Laura M.; Huisstede, Bionka M A; Voorn, Veronique M A; Schoones, Jan W.; Nelissen, Rob G H H

2016-01-01

Purpose: This study gives a systematic overview of the literature on the occurrence of musculoskeletal complaints in professional instrumental musicians. Methods: A systematic review. Nine literature databases were searched without time limits on June 25, 2015, also the complete index of the journal

Behavioral Quantification of Audiomotor Transformations in Improvising and Score-Dependent Musicians

NARCIS (Netherlands)

Harris, Robert; van Kranenburg, Peter; de Jong, Bauke M.

2016-01-01

The historically developed practice of learning to play a music instrument from notes instead of by imitation or improvisation makes it possible to contrast two types of skilled musicians characterized not only by dissimilar performance practices, but also disparate methods of audiomotor learning.

NSF's Career-Life Balance Initiative and the NSF Astronomy and Astrophysics Postdoctoral Fellowships

Science.gov (United States)

Ajhar, Edward A.

2013-01-01

In the fall of 2011, the National Science Foundation (NSF) began the Career-Life Balance Initiative to support graduate students, postdoctoral students, and early-career researchers in STEM fields. NSF is focusing first on its most prestigious programs for early-career scientists---the CAREER program and the postdoctoral programs, including the NSF Astronomy and Astrophysics Postdoctoral Fellowships (AAPF)---where career-life balance opportunities can help retain a significant fraction of early career talent. Subject to budget constraints, NSF plans to further integrate and enhance career-life balance opportunities over time through other programs, like the Graduate Research Fellowships Program and ADVANCE, and subsequently through the broader portfolio of NSF activities. In addition, to comply with Title IX, NSF has regulations to ensure that educational programs that receive NSF funds are free of gender discrimination and harassment. A primary goal of this presentation is to put facts about NSF into the hands of students, faculty, staff, administrators and other policy makers to benefit the advancement of career-life balance in the astronomical community. The presentation focus areas will (1) address common misconceptions about NSF rules regarding parental leave; (2) discuss benefits already available through the AAPF program, Graduate Research Fellowships, and other programs; and (3) listen to community concerns and issues to bring these back to the foundation for consideration. Did you know that NSF allows paid parental leave under many circumstances? For example, the AAPF program currently allows two months of paid parental leave during the fellow's tenure. What are the rules for NSF Graduate Research Fellowships? Come to the session and find out; the answers to such questions might surprise you.

Portfolio Assessment: A Handbook for Educators. Assessment Bookshelf Series.

Science.gov (United States)

Barton, James, Ed.; Collins, Angelo, Ed.

This guide contains practical steps for integrating portfolios into any K-12 classroom and tips for effective classroom management of portfolios. It also contains actual examples of portfolios in action in a variety of subject areas. The chapters are: (1) "Starting Out: Designing Your Portfolio" (James Barton and Angelo Collins); (2) "Preparing…

Professionalism, Portfolios and the Development of School Leaders.

Science.gov (United States)

Wildy, Helen; Wallace, John

1998-01-01

Describes how two reforms--portfolio culture and teacher professionalism--converge in a systemwide program for school leaders' professional development. Investigates use of portfolios to help (Australian) principals, deputy principals, and department heads improve their performance and accountability. Participants used portfolios as evidence of…

Selection of a portfolio of R & D projects

NARCIS (Netherlands)

Casault, Sébastien; Groen, Arend J.; Linton, J.D.; Linton, Jonathan; Link, A.N.; Vonortas, N.S.

2013-01-01

While portfolios of research are increasingly discussed, a portfolio perspective is infrequently taken when selecting two or more projects. Consequently, this chapter considers the current state of knowledge in project and portfolio selection, identifies why we can and cannot apply knowledge from

ALPHA-BETA SEPARATION PORTFOLIO STRATEGIES FOR ISLAMIC FINANCE

OpenAIRE

Valentyn Khokhlov

2016-01-01

The purpose of this paper is to develop a mathematical alpha-beta separation model that can be used to create a core-satellite portfolio management strategy that complies with the principles of Islamic finance. Methodology. Core-satellite portfolio construction methodology is used to implement the alpha-beta separation approach, where the core part of the portfolio is managed using the tracking error minimization strategy, and the satellite part of the portfolio is managed using the mean-vari...

CAREER GUIDANCE EXPERIENCE ABROAD

Directory of Open Access Journals (Sweden)

Sergey N. Tolstoguzov

2015-01-01

; earlier fixing of professional preferences and less flexible relation to an unsuccessful choice of a speciality or profession of the youth is marked there. The most typical characteristics of foreign career-oriented schemes are the following: the organisation of continuous training lasting throughout all school; supervision over students’ achievements, propensities and hobbies; portfolio or cumulative files drafting and recording data of all pupil’s results while professional consulting and selection of entrants for vocational training continuation in colleges or high schools. The author points out the general characteristic: the economy requirement for high quality experts on the basis of selection of the pupils who are able to master high-end technologies and have an obvious potential of professional growth and personal development. Practical significance. The research materials and implementations can be useful to Russian career-and professional specialists, and the experts who are engaged in education management. 

Home recording for musicians for dummies

CERN Document Server

Strong, Jeff

2008-01-01

Invaluable advice that will be music to your ears! Are you thinking of getting started in home recording? Do you want to know the latest home recording technologies? Home Recording For Musicians For Dummies will get you recording music at home in no time. It shows you how to set up a home studio, record and edit your music, master it, and even distribute your songs. With this guide, you?ll learn how to compare studio-in-a-box, computer-based, and stand-alone recording systems and choose what you need. You?ll gain the skills to manage your sound, take full advantage of MIDI, m

Hearing ability in Danish symphony orchestra musicians

DEFF Research Database (Denmark)

Obeling, Lise; Poulsen, Torben

1999-01-01

audiograms showed no signs of hearing loss. The audiograms were also compared to the expected audiograms from ISO 1999, which takes account of the number of years at work, the number of playing hours per week, and the average sound level in the orchestra for the instrument group. In almost all cases......The audiograms of fifty-seven musicians from four Danish symphony orchestras were determined in connection with an interview about their working experience. Measurements of sound levels and noise dose were performed during rehearsal and during concerts in the four orchestras with the measuring...

Hearing Health in College Instrumental Musicians and Prevention of Hearing Loss.

Science.gov (United States)

Olson, Anna D; Gooding, Lori F; Shikoh, Fara; Graf, Julie

2016-03-01

College musicians exhibit greater declines in hearing than the general population and are at particular risk because they rehearse and perform daily in loud environments. Also, they engage in use of personal listening devices which increases the amount of "exposure" time. Despite increased risk, many do not use hearing protection devices (HPD). The purpose of this study was to (1) to identify the present level of education about hearing health, (2) identify the perceived advantages and disadvantages of using HPD, and (3) evaluate results among different musical instrument groups. A mixed-methods group design was used including both quantitative and qualitative instruments. SPSS was used to generate descriptive statistics, and non-parametric statistical analysis was performed on quantitative data. NVivo software was used to evaluate qualitative responses. Of the 90 college instrumental music students who participated, 12% reported a history of hearing loss, and over one-third reported tinnitus. Seventy-seven percent of participants had never received any training about hearing health and only a small percentage of students used HPD. The most cited reason for lack of protection use was its negative impact on sound quality. However, group differences were noted between brass, woodwind, and percussion musicians in terms of HPD uptake. Improving the type of information disseminated to college musicians may reduce the risk of ear-related deficits. Noise dosage information, HPD information, and prevention education grounded in theories like the Health Belief Model may increase awareness and promote greater use of HPDs in this population.

Deformed exponentials and portfolio selection

Science.gov (United States)

Rodrigues, Ana Flávia P.; Guerreiro, Igor M.; Cavalcante, Charles Casimiro

In this paper, we present a method for portfolio selection based on the consideration on deformed exponentials in order to generalize the methods based on the gaussianity of the returns in portfolio, such as the Markowitz model. The proposed method generalizes the idea of optimizing mean-variance and mean-divergence models and allows a more accurate behavior for situations where heavy-tails distributions are necessary to describe the returns in a given time instant, such as those observed in economic crises. Numerical results show the proposed method outperforms the Markowitz portfolio for the cumulated returns with a good convergence rate of the weights for the assets which are searched by means of a natural gradient algorithm.

Preference of reverberation time for musicians and audience of the Javanese traditional gamelan music

Science.gov (United States)

Suyatno; Tjokronegoro, H. A.; Merthayasa, I. G. N.; Supanggah, R.

2016-11-01

This paper presents results of an investigation of room acoustic parameters those are appropriated particularly to perform a Javanese gamelan. The acoustic parameters were obtained by analysing simulated sounds of performance. Those simulated sounds were obtained by sound convolution technique of a dry sound signal of Javanese gamelan performance with impulse responses rooms whose appropriated reverberation time. The reverberation time were varied between 1.0s to 1.8s, those belong to the characteristic of Pendopo Mangkunegaran Surakarta. In this case, Pendopo Mangkunegaran is assumed as one of the most suitable concert halls for Javanese gamelan performance. To obtain the acoustic parameters, we used a psycho-acoustics measurement based on paired comparison test that having different of acoustic parameters to determine the most comfortable one to majority of respondents. The respondents who have participated in this research composed of a group of professional musicians of Javanese gamelan and groups of audience who are not musician, nevertheless part of them were familiar with Javanese gamelan music. The comparison test gave results and showed majority of respondents of group of musicians had a notion sound reverberation time of 1.2s was most comfortable. This corresponds to +6.2dB, clarity and 74% definition. It means the appropriate acoustic condition allows musicians to recognize and distinguish clearly sound of each instrument being played. Meanwhile, group of audience had a notion reverberation time in a range of 1.2s - 1.6s was most comfortable. This range of reverberation time corresponds to +4dB to +6.2dB of clarity, and 66% to 74% of definition.

Optimal diversification of the securities portfolio

Directory of Open Access Journals (Sweden)

Валентина Михайловна Андриенко

2016-09-01

Full Text Available The article deals with problems of the theory and methods of forming the optimal portfolio of financial markets. The analytical review of methods in their historical development is given. Recommendations on the use of a particular method depends on the specific conditions are formulated. The classical and alternative methods are considered. The main attention is paid to the analysis of the investment portfolio of derivative securities in B/S-market modelThe article deals with problems of the theory and methods of forming the optimal portfolio of financial markets. The analytical review of methods in their historical development is given. Recommendations on the use of a particular method depends on the specific conditions are formulated. The classical and alternative methods are considered. The main attention is paid to the analysis of the investment portfolio of derivative securities in -market model

Technology Audit: Assessment of Innovative Portfolio

Directory of Open Access Journals (Sweden)

Kurushina Viktoria

2016-01-01

Full Text Available The article discusses the features of the technological audit performing in the companies of oil and gas sector of Russian economy. To measure the innovations quality level the scale was developed based on the Theory of Inventive Problem Solving and the theory of technological structures. Figures of the innovations quantity by levels, volume and quality of the innovative portfolio are offered for assessment the innovative portfolio quality. The method was tested on an example of oil and gas transporting enterprises. The results of the comparative analysis of innovative portfolio are shown.

Validity of portfolio assessment: which qualities determine ratings?

NARCIS (Netherlands)

Driessen, E.W.; Overeem, K.; Tartwijk, J. van; Vleuten, C.P.M. van der; Muijtjens, A.M.M.

2006-01-01

The portfolio is becoming increasingly accepted as a valuable tool for learning and assessment. The validity of portfolio assessment, however, may suffer from bias due to irrelevant qualities, such as lay-out and writing style. We examined the possible effects of such qualities in a portfolio

Portfolio at Tertiary Level – Lifelong Learning Tool

Directory of Open Access Journals (Sweden)

Galina Kavaliauskienė

2011-04-01

Full Text Available The use of electronic language portfolios has been preferable to the use of common paper portfolios for ease of application – there is no need for accumulating a number of files of written papers, which solves the problem of storing space and, to some extent, helps reduce students’ and teachers’ workload.The study investigated learners’ perceptions of employing electronic language portfolios for conducting various assignments in English for Specific Purposes. The research involved university students of different specializations. Learners’ experience of employing portfolios and opinions on their benefits for improving language skills have been analyzed and statistically treated using SPSS software. The results show that students are positive about application of electronic portfolios in ESP classes. The use of online portfolios for various assignments helps teachers foster students’ learning, encourages critical thinking, develops creativity, motivates learners to use digital technology, encourages collaboration of learners, and in the long run, leads to lifelong learning.

Portfolios in Saudi medical colleges. Why and how?

Directory of Open Access Journals (Sweden)

Nadia M. Fida

2016-03-01

Full Text Available Over recent decades, the use of portfolios in medical education has evolved, and is being applied in undergraduate and postgraduate programs worldwide. Portfolios, as a learning process and method of documenting and assessing learning, is supported as a valuable tool by adult learning theories that stress the need for learners to be self-directed and to engage in experiential learning. Thoughtfully implemented, a portfolio provides learning experiences unequaled by any single learning tool. The credibility (validity and dependability (reliability of assessment through portfolios have been questioned owing to its subjective nature; however, methods to safeguard these features have been described in the literature. This paper discusses some of this literature, with particular attention to the role of portfolios in relation to self-reflective learning, provides an overview of current use of portfolios in undergraduate medical education in Saudi Arabia, and proposes research-based guidelines for its implementation and other similar contexts.

The Shapley decomposition for portfolio risk

OpenAIRE

Stéphane Mussard; Virginie Terraza

2006-01-01

The aim of this paper is to provide an application of the Shapley Value to decompose financial portfolio risk. Decomposing the sample covariance risk measure yields relative measures, which enable securities of a portfolio to be classified according to risk scales.

Enhanced Passive and Active Processing of Syllables in Musician Children

Science.gov (United States)

Chobert, Julie; Marie, Celine; Francois, Clement; Schon, Daniele; Besson, Mireille

2011-01-01

The aim of this study was to examine the influence of musical expertise in 9-year-old children on passive (as reflected by MMN) and active (as reflected by discrimination accuracy) processing of speech sounds. Musician and nonmusician children were presented with a sequence of syllables that included standards and deviants in vowel frequency,…

Automatic Trading Agent. RMT Based Portfolio Theory and Portfolio Selection

Science.gov (United States)

Snarska, M.; Krzych, J.

2006-11-01

Portfolio theory is a very powerful tool in the modern investment theory. It is helpful in estimating risk of an investor's portfolio, arosen from lack of information, uncertainty and incomplete knowledge of reality, which forbids a perfect prediction of future price changes. Despite of many advantages this tool is not known and not widely used among investors on Warsaw Stock Exchange. The main reason for abandoning this method is a high level of complexity and immense calculations. The aim of this paper is to introduce an automatic decision-making system, which allows a single investor to use complex methods of Modern Portfolio Theory (MPT). The key tool in MPT is an analysis of an empirical covariance matrix. This matrix, obtained from historical data, biased by such a high amount of statistical uncertainty, that it can be seen as random. By bringing into practice the ideas of Random Matrix Theory (RMT), the noise is removed or significantly reduced, so the future risk and return are better estimated and controlled. These concepts are applied to the Warsaw Stock Exchange Simulator {http://gra.onet.pl}. The result of the simulation is 18% level of gains in comparison with respective 10% loss of the Warsaw Stock Exchange main index WIG.

Comparative Analysis of Investment Funds Stocks-based Portfolios and BET Stocks-based Portfolios

Directory of Open Access Journals (Sweden)

Ion STANCU

2010-04-01

Full Text Available In this paper we intend to find out what is the best choice of stocks-based portfolio. The major goal is to find whether is more efficient to invest the whole capital in a single sector, like financial investments, or to create a diversified portfolio, taking into account assets from various economic sectors. Capital allocation will be based on the concept of cointegration. We have chosen this method because it can be applied on non-stationary data series, and, besides, it has the advantage of using the whole set of information provided by the financial assets. Another goal is to study how the portfolio structure adjusts if a shock occurs during the period under analysis so that to preserve a certain return or minimize a potential loss. The study will result in an investment solution in the Romanian capital market, even in the context of financial crisis.

Portfolio Development in Teacher Education and Educational Leadership.

Science.gov (United States)

Biddle, James

The Ohio Consortium for Portfolio Development was established in 1988 as an interinstitutional research effort to integrate portfolio development into teacher education. A subphase focused on portfolio use by entry year teachers in a metropolitan school system. Personnel at Wright State University, Central State University, and the University of…

The true invariant of an arbitrage free portfolio

Science.gov (United States)

Schmidt, Anatoly B.

2003-03-01

It is shown that the arbitrage free portfolio paradigm being applied to a portfolio with an arbitrary number of shares N allows for the extended solution in which the option price F depends on N. However the resulting stock hedging expense Q= MF (where M is the number of options in the portfolio) does not depend on whether N is treated as an independent variable or as a parameter. Therefore the stock hedging expense is the true invariant of the arbitrage free portfolio paradigm.

Investment portfolio management from cybernetic point of view

Science.gov (United States)

Marchev, Angel, Jr.; Marchev, Angel

2013-12-01

The theory of investment portfolios is a well defined component of financial science. While sound in principle, it faces some setbacks in its real-world implementation. In this paper the authors propose a reformulation of the investment portfolio problem as a cybernetic system where the Investor is the controlling system and the portfolio is the controlled system. Also the portfolio controlling process should be dissected in several ordered phases, so that each phase is represented as a subsystem within the structure of the controlling system Investor.

Preparing for an Academic Career Workshops: Resources for Graduate Students and Post-Doctoral Fellows

Science.gov (United States)

Dunbar, R. W.; MacDonald, R.

2004-12-01

The professional development program, "On the Cutting Edge", offers annual multi-day workshops for graduate students and post-doctoral fellows interested in pursuing academic careers. Goals are to prepare participants to become more effective teachers, stronger candidates for academic positions, and more aware of the realities of academic jobs. Insights that participants especially hope to gain from these workshops include feedback on the application process, especially an understanding of how search committees work; the different realities of balancing teaching, research, and personal life in a range of academic institutions; and expectations for tenure. The ten-person leadership team represents, by design, a wide range of academic career paths and institutions, and provides approximately 1:6 leader: participant ratio. Specific sessions include research on learning, an introduction to course and lab design, effective teaching and assessment strategies, developing a teaching statement, time management and early career faculty success, and moving research forward into new settings. Optional workshop sessions and discussions include the following topics: dual-career couples; families and careers; teaching portfolios; effective negotiation strategies; tenure and promotion; effective field trips; getting started in undergraduate research; opportunities in K-12 education; career options beyond faculty positions. Highlights of the workshop are faculty panel discussions about career paths and the academic job search. By workshop end, participants complete a goal setting and action planning activity. Two years of evaluation data suggest our goals are being met. Participants particularly appreciate the practical ideas and the opportunity to interact with, and learn from, a diverse leadership team and other participants.

E-PORTFOLIO: BEYOND ASSESSMENT FOR ENGLISH STUDENT TEACHER (a Preliminary Study of E-portfolio Implementation in Micro Teaching Class)

OpenAIRE

Sarlita D. Matra

2017-01-01

Teacher preparation programs across the country are showing an increased interest in the use of electronic portfolios as valuable authentic assessment tools that can document students‘ abilities and growth related to specific standards. The concept of developing e-portfolios is based on the fact that the reflective practice of creating portfolios enables students to document and track their learning; develop an integrated, coherent picture of their learning experiences; and enhanc...

Implementing portfolio in postgraduate general practice training. Benefits and recommendations.

Science.gov (United States)

Alotaibi, Fawaz S

2012-10-01

This paper presents a review to explore the literature focusing on portfolio in postgraduate general practice (GP) training, and to examine the impact of implementation of portfolio on learning process, as well as proposing recommendations for its implementation in postgraduate GP training. An electronic search was carried out on several databases for studies addressing portfolio in postgraduate GP training. Six articles were included to address specifically the effectiveness of portfolio in postgraduate GP training. Five of them described successful experiences of portfolio-based learning implementation. Only one article addressed portfolio-based assessment in postgraduate GP training. The existing evidence provides various benefits of professional portfolio-based learning. It does appear to have advantages of stimulating reflective learning, promoting proactive learning, and bridging the hospital experiences of the learners to GP. Moreover, the challenges to implementation of portfolio-based learning are often based on orientation and training of stakeholders.

Asset Allocation and Optimal Contract for Delegated Portfolio Management

Science.gov (United States)

Liu, Jingjun; Liang, Jianfeng

This article studies the portfolio selection and the contracting problems between an individual investor and a professional portfolio manager in a discrete-time principal-agent framework. Portfolio selection and optimal contracts are obtained in closed form. The optimal contract was composed with the fixed fee, the cost, and the fraction of excess expected return. The optimal portfolio is similar to the classical two-fund separation theorem.

On the microeconomic problems studied by portfolio theory

Science.gov (United States)

Nikonov, Oleg; Medvedeva, Marina

2012-09-01

In the paper we consider economically motivated problems, which are treated with the help of methods of portfolio theory that goes back to the papers by H. Markowitz [1] and J. Tobin [2]. We show that the portfolio theory initially developed for risky securities (stocks) could be applied to other objects. In the present paper we consider several situations where such an application is reasonable and seems to be fruitful. Namely, we consider the problems of constructing the efficient portfolio of banking services and the portfolio of counteragents of a firm.

Students' reflections in a portfolio pilot: highlighting professional issues.

Science.gov (United States)

Haffling, Ann-Christin; Beckman, Anders; Pahlmblad, Annika; Edgren, Gudrun

2010-01-01

Portfolios are highlighted as potential assessment tools for professional competence. Although students' self-reflections are considered to be central in the portfolio, the content of reflections in practice-based portfolios is seldom analysed. To investigate whether students' reflections include sufficient dimensions of professional competence, notwithstanding a standardized portfolio format, and to evaluate students' satisfaction with the portfolio. Thirty-five voluntary final-year medical students piloted a standardized portfolio in a general practice (GP) attachment at Lund University, Sweden. Students' portfolio reflections were based upon documentary evidence from practice, and aimed to demonstrate students' learning. The reflections were qualitatively analysed, using a framework approach. Students' evaluations of the portfolio were subjected to quantitative and qualitative analysis. Among professional issues, an integration of cognitive, affective and practical dimensions in clinical practice was provided by students' reflections. The findings suggested an emphasis on affective issues, particularly on self-awareness of feelings, attitudes and concerns. In addition, ethical problems, clinical reasoning strategies and future communication skills training were subjects of several reflective commentaries. Students' reflections on their consultation skills demonstrated their endeavour to achieve structure in the medical interview by negotiation of an agenda for the consultation, keeping the interview on track, and using internal summarizing. The importance of active listening and exploration of patient's perspective was also emphasized. In students' case summaries, illustrating characteristic attributes of GP, the dominating theme was 'patient-centred care', including the patient-doctor relationship, holistic modelling and longitudinal continuity. Students were satisfied with the portfolio, but improved instructions were needed. A standardized portfolio in a

Portfolios with nonlinear constraints and spin glasses

Science.gov (United States)

Gábor, Adrienn; Kondor, I.

1999-12-01

In a recent paper Galluccio, Bouchaud and Potters demonstrated that a certain portfolio problem with a nonlinear constraint maps exactly onto finding the ground states of a long-range spin glass, with the concomitant nonuniqueness and instability of the optimal portfolios. Here we put forward geometric arguments that lead to qualitatively similar conclusions, without recourse to the methods of spin glass theory, and give two more examples of portfolio problems with convex nonlinear constraints.

R functions development for stockPortfolio package

OpenAIRE

Luo, Rui

2013-01-01

Modern portfolio theory is a statistical framework to allocate investment assets properly, with the aim of reducing risk by diversification. In the past decades, a variety of index and group models (with different covariance assumption) have been proposed to optimize the portfolio, including Single Index Model, Constant Correlation Model, Multi-Group Model, and Multi-Index Model. An R package "stockPortfolio" is developed by Drs. Christou and Diez, and fully implemented Single Index Model, Co...

Optimal portfolio choice under loss aversion

NARCIS (Netherlands)

A.B. Berkelaar (Arjan); R.R.P. Kouwenberg (Roy)

2000-01-01

textabstractProspect theory and loss aversion play a dominant role in behavioral finance. In this paper we derive closed-form solutions for optimal portfolio choice under loss aversion. When confronted with gains a loss averse investor behaves similar to a portfolio insurer. When confronted with

Random matrix theory filters and currency portfolio optimisation

Science.gov (United States)

Daly, J.; Crane, M.; Ruskin, H. J.

2010-04-01

Random matrix theory (RMT) filters have recently been shown to improve the optimisation of financial portfolios. This paper studies the effect of three RMT filters on realised portfolio risk, using bootstrap analysis and out-of-sample testing. We considered the case of a foreign exchange and commodity portfolio, weighted towards foreign exchange, and consisting of 39 assets. This was intended to test the limits of RMT filtering, which is more obviously applicable to portfolios with larger numbers of assets. We considered both equally and exponentially weighted covariance matrices, and observed that, despite the small number of assets involved, RMT filters reduced risk in a way that was consistent with a much larger S&P 500 portfolio. The exponential weightings indicated showed good consistency with the value suggested by Riskmetrics, in contrast to previous results involving stocks. This decay factor, along with the low number of past moves preferred in the filtered, equally weighted case, displayed a trend towards models which were reactive to recent market changes. On testing portfolios with fewer assets, RMT filtering provided less or no overall risk reduction. In particular, no long term out-of-sample risk reduction was observed for a portfolio consisting of 15 major currencies and commodities.

RISK MANAGEMENT OF INVESTMENT PORTFOLIO BY FUTURE

Directory of Open Access Journals (Sweden)

K. Kerimov Alexandr

2017-01-01

Full Text Available The article considers the problem of the dynamic risk management of the investment portfolio using future con- tracts. The management starts with the concept of effective inhomogeneous portfolios, which contain futures together with underlying asserts. The effective portfolios are defined as the ones of the minimal dispersion with the expected return greater or equal to the specified value. Risk is measured by the probability of losing of a certain part of the portfolio value. The control parameters are the number of futures for each asset of portfolio, which is defined from the condition of effec- tiveness of portfolio and risk acceptability on each step.The effective adaptive strategies of portfolio risk management together with comparative analysis on a concrete example are presented. The proposed approach provides the forecast correction of the expected income and its variance for the assets with the emergence of new data. The financial time series are determined by volatility clustering, i.e. relative or absolute price changes tend to keep high or low magnitude for some time, with the result that clusters are created - periods of high or low volatility. Then adaptive estimate of correlational relationships between asset prices are essential because the degree of correlational relationship also changes in time. So the correlation of future and spot price changes considerably increases while approaching to performance of contracts. For taking into account of data instability of dispersion and correlation simple methods of volatility forecasting and correlation of relative changes of price data based on exponential smoothing are implemented.

Portfolio analysis of layered security measures.

Science.gov (United States)

Chatterjee, Samrat; Hora, Stephen C; Rosoff, Heather

2015-03-01

Layered defenses are necessary for protecting the public from terrorist attacks. Designing a system of such defensive measures requires consideration of the interaction of these countermeasures. In this article, we present an analysis of a layered security system within the lower Manhattan area. It shows how portfolios of security measures can be evaluated through portfolio decision analysis. Consideration is given to the total benefits and costs of the system. Portfolio diagrams are created that help communicate alternatives among stakeholders who have differing views on the tradeoffs between security and economic activity. © 2014 Society for Risk Analysis.

Does asymmetric correlation affect portfolio optimization?

Science.gov (United States)

Fryd, Lukas

2017-07-01

The classical portfolio optimization problem does not assume asymmetric behavior of relationship among asset returns. The existence of asymmetric response in correlation on the bad news could be important information in portfolio optimization. The paper applies Dynamic conditional correlation model (DCC) and his asymmetric version (ADCC) to propose asymmetric behavior of conditional correlation. We analyse asymmetric correlation among S&P index, bonds index and spot gold price before mortgage crisis in 2008. We evaluate forecast ability of the models during and after mortgage crisis and demonstrate the impact of asymmetric correlation on the reduction of portfolio variance.

What Classical Musicians Can Learn from Working with Actors: Conceptual and Pedagogic Foundations and Outcomes of Bringing Musicians to Integrate in a Drama Training Environment

Science.gov (United States)

Rea, Ken

2015-01-01

Effective teaching in a music conservatoire needs a continual quest to find new and better ways of delivering excellence. The challenge is to keep the work innovative. In this article I argue that, for a classical musician the communication of personality is a vital component of excellence in performance and I give reasons why an authentic,…

Perception of orchestral musicians about work environment and conditions

OpenAIRE

Clarissa Stefani Teixeira; Fausto Kothe; Luis Felipe Dias Lopes; Érico Felden Pereira

2014-01-01

The objective of this study was to investigate the perception of 11 orchestral string (viola and violin) musicians of both genders with respect to their work environment and conditions. We applied a questionnaire with demographic information and the scale Profile of Work Environment and Working Conditions by Nahas et al. (2009), which analyzes the following components: physical environment, social environment, development and professional achievement, salary and benefits, and social relev...

Effects of Baton Usage on College Musicians' Perceptions of Ensemble Performance

Science.gov (United States)

Silvey, Brian A.; Wacker, Aaron T.; Felder, Logan

2017-01-01

The purpose of this study was to investigate the effects of baton usage on college musicians' perceptions of ensemble performance. Two conductors were videotaped while conducting a 1-minute excerpt from either a technical ("Pathfinder of Panama," John Philip Sousa) or lyrical ("Seal Lullaby," Eric Whitacre) piece of concert…

On the economic risk capital of portfolio insurance

Directory of Open Access Journals (Sweden)

Werner Hürlimann

2004-09-01

Full Text Available A formula for the conditional value-at-risk of classical portfolio insurance is derived and shown to be constant for sufficiently small loss probabilities. As illustrations, we discuss portfolio insurance for an equity market index using empirical data, and analyze the more general multivariate situation of a portfolio of risky assets.

The electricity portfolio simulation model (EPSim) technical description.

Energy Technology Data Exchange (ETDEWEB)

Drennen, Thomas E.; Klotz, Richard (Hobart and William Smith Colleges, Geneva, NY)

2005-09-01

Stakeholders often have competing interests when selecting or planning new power plants. The purpose of developing this preliminary Electricity Portfolio Simulation Model (EPSim) is to provide a first cut, dynamic methodology and approach to this problem, that can subsequently be refined and validated, that may help energy planners, policy makers, and energy students better understand the tradeoffs associated with competing electricity portfolios. EPSim allows the user to explore competing electricity portfolios annually from 2002 to 2025 in terms of five different criteria: cost, environmental impacts, energy dependence, health and safety, and sustainability. Four additional criteria (infrastructure vulnerability, service limitations, policy needs and science and technology needs) may be added in future versions of the model. Using an analytic hierarchy process (AHP) approach, users or groups of users apply weights to each of the criteria. The default energy assumptions of the model mimic Department of Energy's (DOE) electricity portfolio to 2025 (EIA, 2005). At any time, the user can compare alternative portfolios to this reference case portfolio.

Portfolios for Majors in Professional Communication.

Science.gov (United States)

Killingsworth, M. Jimmie; Sanders, Scott P.

1987-01-01

Suggests general principles for developing assignments where students prepare portfolios that reveal their overall communication skills in addition to the usual job search tools. Emphasizes that students should concentrate on including works in the portfolio with the criteria of quality, variety, professionalism, and maturity in mind. (SKC)

Portfolio Diversification Effects of Downside Risk

NARCIS (Netherlands)

N. Hyung (Namwon); C.G. de Vries (Casper)

2004-01-01

textabstractRisk managers use portfolios to diversify away the un-priced risk of individual securities. In this paper we compare the benefits of portfolio diversification for downside risk in case returns are normally distributed with the case fat tailed distributed returns. The downside risk of a

The Impact of Career Boundarylessness on Subjective Career Success: The Role of Career Competencies, Career Autonomy, and Career Insecurity

Science.gov (United States)

Colakoglu, Sidika N.

2011-01-01

Based on the theoretical frameworks of the career enactment and the stress perspectives, this study develops and tests a model in which career boundarylessness affects subjective career success through its effect on three career competencies--knowing-why, knowing-how, and knowing-whom--and career autonomy and career insecurity. The results…

Credit Portfolio Selection According to Sectors in Risky Environments: Markowitz Practice

OpenAIRE

Halim Kazan; Kültigin Uludag

2014-01-01

In this study, it was researched that how the rate of repayment of loans will be increased and how the credit risk will be minimized in banking sector, by using Markowitz Portfolio Theory. Construction, textile and wholesale and retail sectors were examined under the central bank data. Portfolio groups were selected and risks( variances of Portfolio groups) were evaluated according to Markowitz portfolio theory. Markowitz portfolio theory is effective than the other portfolio selection instru...

Optimal wind power deployment in Europe. A portfolio approach

International Nuclear Information System (INIS)

Roques, Fabien; Hiroux, Celine; Saguan, Marcelo

2010-01-01

Geographic diversification of wind farms can smooth out the fluctuations in wind power generation and reduce the associated system balancing and reliability costs. The paper uses historical wind production data from five European countries (Austria, Denmark, France, Germany, and Spain) and applies the Mean-Variance Portfolio theory to identify cross-country portfolios that minimise the total variance of wind production for a given level of production. Theoretical unconstrained portfolios show that countries (Spain and Denmark) with the best wind resource or whose size contributes to smoothing out the country output variability dominate optimal portfolios. The methodology is then elaborated to derive optimal constrained portfolios taking into account national wind resource potential and transmission constraints and compare them with the projected portfolios for 2020. Such constraints limit the theoretical potential efficiency gains from geographical diversification, but there is still considerable room to improve performance from actual or projected portfolios. These results highlight the need for more cross-border interconnection capacity, for greater coordination of European renewable support policies, and for renewable support mechanisms and electricity market designs providing locational incentives. Under these conditions, a mechanism for renewables credits trading could help aligning wind power portfolios with the theoretically efficient geographic dispersion. (author)

Power from Perspective: Potential future United States energy portfolios

International Nuclear Information System (INIS)

Tonn, Bruce; Healy, K.C.; Gibson, Amy; Ashish, Ashutosh; Cody, Preston; Beres, Drew; Lulla, Sam; Mazur, Jim; Ritter, A.J.

2009-01-01

This paper presents United States energy portfolios for the year 2030, developed from seven different Perspectives. The Perspectives are characterized by different weights placed on fourteen defining values (e.g., cost, social acceptance). The portfolios were constructed to achieve three primary goals, energy independence, energy security, and greenhouse gas reductions. The portfolios are also evaluated over a comprehensive set of secondary criteria (e.g., economic growth, technical feasibility). It is found that very different portfolios based on very different defining values can achieve the three primary goals. Commonalities among the portfolios include reliance upon cellulosic ethanol, nuclear power, and energy efficiency to meet year 2030 energy demands. It is concluded that the US energy portfolio must be diverse and to achieve national energy goals will require an explicit statement of goals, a strong role for government, and coordinated action across society

On the Teaching of Portfolio Theory.

Science.gov (United States)

Biederman, Daniel K.

1992-01-01

Demonstrates how a simple portfolio problem expressed explicitly as an expected utility maximization problem can be used to instruct students in portfolio theory. Discusses risk aversion, decision making under uncertainty, and the limitations of the traditional mean variance approach. Suggests students may develop a greater appreciation of general…

Differential processing of melodic, rhythmic and simple tone deviations in musicians--an MEG study.

Science.gov (United States)

Lappe, Claudia; Lappe, Markus; Pantev, Christo

2016-01-01

Rhythm and melody are two basic characteristics of music. Performing musicians have to pay attention to both, and avoid errors in either aspect of their performance. To investigate the neural processes involved in detecting melodic and rhythmic errors from auditory input we tested musicians on both kinds of deviations in a mismatch negativity (MMN) design. We found that MMN responses to a rhythmic deviation occurred at shorter latencies than MMN responses to a melodic deviation. Beamformer source analysis showed that the melodic deviation activated superior temporal, inferior frontal and superior frontal areas whereas the activation pattern of the rhythmic deviation focused more strongly on inferior and superior parietal areas, in addition to superior temporal cortex. Activation in the supplementary motor area occurred for both types of deviations. We also recorded responses to similar pitch and tempo deviations in a simple, non-musical repetitive tone pattern. In this case, there was no latency difference between the MMNs and cortical activation was smaller and mostly limited to auditory cortex. The results suggest that prediction and error detection of musical stimuli in trained musicians involve a broad cortical network and that rhythmic and melodic errors are processed in partially different cortical streams. Copyright © 2015 Elsevier Inc. All rights reserved.

Low volatility sector-based portfolios: a South African case

African Journals Online (AJOL)

Black pointed out that when investors are restricted from using leverage or bor- ..... takes into account the correlation between the sectors in a portfolio. ..... 3The information ratio of a portfolio is the active premium (portfolio annualised return ...

Portfolio Diversification with Commodity Futures: Properties of Levered Futures

NARCIS (Netherlands)

Woodard, J.D.; Egelkraut, T.M.; Garcia, P.; Pennings, J.M.E.

2005-01-01

Portfolio Diversification with Commodity Futures: Properties of Levered Futures This study extends previous work on the impact of commodity futures on portfolio performance by explicitly incorporating levered futures into the portfolio optimization problem. Using data on nine individual commodity

Log-Optimal Portfolio Selection Using the Blackwell Approachability Theorem

OpenAIRE

V'yugin, Vladimir

2014-01-01

We present a method for constructing the log-optimal portfolio using the well-calibrated forecasts of market values. Dawid's notion of calibration and the Blackwell approachability theorem are used for computing well-calibrated forecasts. We select a portfolio using this "artificial" probability distribution of market values. Our portfolio performs asymptotically at least as well as any stationary portfolio that redistributes the investment at each round using a continuous function of side in...

Communities of Practice in the Conservatory: Learning with a Professional Musician

Science.gov (United States)

Virkkula, Esa

2016-01-01

This article examines the sociocultural learning of popular and jazz music in communities of practice as part of secondary vocational music education in a Finnish conservatory. The research is based on performance workshops which were implemented as a joint effort between professional musicians and music students. These workshops are suggested as…

Linearly Adjustable International Portfolios

International Nuclear Information System (INIS)

Fonseca, R. J.; Kuhn, D.; Rustem, B.

2010-01-01

We present an approach to multi-stage international portfolio optimization based on the imposition of a linear structure on the recourse decisions. Multiperiod decision problems are traditionally formulated as stochastic programs. Scenario tree based solutions however can become intractable as the number of stages increases. By restricting the space of decision policies to linear rules, we obtain a conservative tractable approximation to the original problem. Local asset prices and foreign exchange rates are modelled separately, which allows for a direct measure of their impact on the final portfolio value.

Linearly Adjustable International Portfolios

Science.gov (United States)

Fonseca, R. J.; Kuhn, D.; Rustem, B.

2010-09-01

We present an approach to multi-stage international portfolio optimization based on the imposition of a linear structure on the recourse decisions. Multiperiod decision problems are traditionally formulated as stochastic programs. Scenario tree based solutions however can become intractable as the number of stages increases. By restricting the space of decision policies to linear rules, we obtain a conservative tractable approximation to the original problem. Local asset prices and foreign exchange rates are modelled separately, which allows for a direct measure of their impact on the final portfolio value.

Agile Project Portfolio Management

DEFF Research Database (Denmark)

Andersen, Jesper Rank; Riis, Jens Ove; Mikkelsen, Hans

2005-01-01

This paper will provide a preliminary introduction to the application of Agile Thinking in management of project portfolio and company development. At any point in time, companies have a crowd of development initiatives spread around the organisation and managed at different levels...... in the managerial hierarchy. They compete for resources and managerial attention, and they often take too long time - and some do not survive in the rapid changing context. Top man¬agers ask for speed, flexibility and effectiveness in the portfolio of development activities (projects). But which competencies...

Career Transitions and Career Success in the "New" Career Era

Science.gov (United States)

Chudzikowski, Katharina

2012-01-01

The "new" career, most notably the boundaryless career, is associated with high career mobility, which is in turn associated with employability and career success of individuals. The current study examined how frequency, form (organisational, horizontal or vertical) and impact (objective career success) of career transitions have changed…

Natural gas contracts in efficient portfolios

Energy Technology Data Exchange (ETDEWEB)

Sutherland, R.J.

1994-12-01

This report addresses the {open_quotes}contracts portfolio{close_quotes} issue of natural gas contracts in support of the Domestic Natural Gas and Oil Initiative (DGOI) published by the U.S. Department of Energy in 1994. The analysis is a result of a collaborative effort with the Public Service Commission of the State of Maryland to consider {open_quotes}reforms that enhance the industry`s competitiveness{close_quotes}. The initial focus of our collaborative effort was on gas purchasing and contract portfolios; however, it became apparent that efficient contracting to purchase and use gas requires a broader consideration of regulatory reform. Efficient portfolios are obtained when the holder of the portfolio is affected by and is responsible for the performance of the portfolio. Natural gas distribution companies may prefer a diversity of contracts, but the efficient use of gas requires that the local distribution company be held accountable for its own purchases. Ultimate customers are affected by their own portfolios, which they manage efficiently by making their own choices. The objectives of the DGOI, particularly the efficient use of gas, can be achieved when customers have access to suppliers of gas and energy services under an improved regulatory framework. The evolution of the natural gas market during the last 15 years is described to account for the changing preferences toward gas contracts. Long-term contracts for natural gas were prevalent before the early 1980s, primarily because gas producers had few options other than to sell to a single pipeline company, and this pipeline company, in turn, was the only seller to a gas distribution company.

Learning Styles and e-portfolio in Nursing Education

DEFF Research Database (Denmark)

Nielsen, Kirsten; Pedersen, Birthe D.; Helms, Niels Henrik

Purpose of the study Research from UK and USA indicates that an e-portfolio facilitates a stronger connection between theoretical and clinical studies in Nursing Education. It helps students reflect over practice and their own skills. Yet other results show that an e-portfolio is a time consumer....... Thus, the aim of this project is to examine the effects of an e-portfolio on nursing students learning of patients with chronic illness during their clinical practice, and to investigate if it makes any difference in facilitating four learning styles: the activist, the reflector, the theorist...... through observations in clinical settings, narrative interviews, and print-outs from the students e-portfolio. Findings So far a pilot project with a questionnaire shows that 84% of the students and nurses reported that the e-portfolio has a positive effect on students learning in clinical settings...

An Extensive Evaluation of Portfolio Approaches for Constraint Satisfaction Problems

Directory of Open Access Journals (Sweden)

Roberto Amadini

2016-06-01

Full Text Available In the context of Constraint Programming, a portfolio approach exploits the complementary strengths of a portfolio of different constraint solvers. The goal is to predict and run the best solver(s of the portfolio for solving a new, unseen problem. In this work we reproduce, simulate, and evaluate the performance of different portfolio approaches on extensive benchmarks of Constraint Satisfaction Problems. Empirical results clearly show the benefits of portfolio solvers in terms of both solved instances and solving time.

IT Portfolio Selection and IT Synergy

Science.gov (United States)

Cho, Woo Je

2010-01-01

This dissertation consists of three chapters. The primary objectives of this dissertation are: (1) to provide a methodological framework of IT (Information Technology) portfolio management, and (2) to identify the effect of IT synergy on IT portfolio selection of a firm. The first chapter presents a methodological framework for IT project…

Portfolio Optimization in a Semi-Markov Modulated Market

International Nuclear Information System (INIS)

Ghosh, Mrinal K.; Goswami, Anindya; Kumar, Suresh K.

2009-01-01

We address a portfolio optimization problem in a semi-Markov modulated market. We study both the terminal expected utility optimization on finite time horizon and the risk-sensitive portfolio optimization on finite and infinite time horizon. We obtain optimal portfolios in relevant cases. A numerical procedure is also developed to compute the optimal expected terminal utility for finite horizon problem

Student Chemical Engineering Reflective ePortfolios--ChE Student Perceptions of Learning from Reflective ePortfolio Creation

Science.gov (United States)

Cherrstrom, Catherine A.; Raisor, Cindy; Fowler, Debra

2015-01-01

Engineering educators and employers value and prioritize communication skills, but developing and assessing such skills in engineering programs is challenging. Reflective ePortfolios provide opportunities to enhance communication skills. The purpose of this three-­year qualitative case study was to investigate the use of reflective ePortfolios in…

Digital portfolio for learning: A new communication channel for education

Directory of Open Access Journals (Sweden)

Judit Coromina

2011-04-01

Full Text Available Purpose: The Catalonian Government has the intention of introducing the digital portfolio before 2017, an initiative related to new approaches for learning. Taking in consideration the increasing interest for digital portfolio as a new communication channel for education, the article aims are: on the one hand to describe how the digital portfolio works and on the other hand, to identify a list of criteria that should be useful for educative centers to select the best application to create the digital portfolio according to their needs.Design/methodology/approach: Firstly, a theoretical framework for portfolio functioning is described. After, applications to support the digital portfolio are classified. Next, a requirement analysis on an ideal application to support the portfolio is made, according to those phases for the portfolio creation identified in the theoretical framework. Lastly, a list of criteria is established to select the application for creating the digital portfolio.Findings and Originality/value: The article contributes to structure the portfolio creation process in some stages and phases in a wider way that it is described in the literature. In addition, a list of criteria is defined to help educative centers to select the application for managing the portfolio that fits better with their objectives. These criteria have been obtained with an exhaustive methodology.Research limitations/implications: In order to put in practice the identified criteria it is proposed to complete the multi-criteria decision model in a new study. It should include processes to weigh criteria and define normalizations. Afterwards it would be able to analyze the value of the model studying the satisfaction for using it by a sample of educative centers.Practical implications: The list of criteria identified should facilitate the selection of the more adequate application to create the learning portfolio to the educative centers, according to their

A Risk-Sensitive Portfolio Optimization Problem with Fixed Incomes Securities

OpenAIRE

Goel, Mayank; Kumar, K. Suresh

2007-01-01

We discuss a class of risk-sensitive portfolio optimization problems. We consider the portfolio optimization model investigated by Nagai in 2003. The model by its nature can include fixed income securities as well in the portfolio. Under fairly general conditions, we prove the existence of optimal portfolio in both finite and infinite horizon problems.

Portfolio use and practices in US colleges and schools of pharmacy.

Science.gov (United States)

Skrabal, Maryann Z; Turner, Paul D; Jones, Rhonda M; Tilleman, Jennifer A; Coover, Kelli L

2012-04-10

To identify the prevalence of portfolio use in US pharmacy programs, common components of portfolios, and advantages of and limitations to using portfolios. A cross-sectional electronic survey instrument was sent to experiential coordinators at US colleges and schools of pharmacy to collect data on portfolio content, methods, training and resource requirements, and benefits and challenges of portfolio use. Most colleges and schools of pharmacy (61.8%) use portfolios in experiential courses and the majority (67.1%) formally assess them, but there is wide variation regarding content and assessment. The majority of respondents used student portfolios as a formative evaluation primarily in the experiential curriculum. Although most colleges and schools of pharmacy have a portfolio system in place, few are using them to fulfill accreditation requirements. Colleges and schools need to carefully examine the intended purpose of their portfolio system and follow-through with implementation and maintenance of a system that meets their goals.

Context effects on pitch perception in musicians and nonmusicians

DEFF Research Database (Denmark)

Brattico, E; Naatanen, R; Tervaniemi, M

2001-01-01

concentrating on reading a book, were presented with sound stimuli that had an infrequent (p = 15 %) pitch shift of 144 Hz. In the familiar condition, the infrequent third-position deviant changed the mode (major vs. minor) of the five-tone pattern. In the unfamiliar condition, patterns were formed from five...... to sequential structured sound events, the auditory system reacts faster in musicians than in nonmusicians. Received December 8, 1999, accepted July 14, 2001....

Portfolio selection between rational and behavioral theories emergent markets case

Directory of Open Access Journals (Sweden)

Bouri Abdelfatteh

2012-08-01

Full Text Available The aim of this paper is to explore the determinants of Portfolio Choice under the investors, professionals and academics’ perception. We introduce an approach based on cognitive mapping technique with a series of semi-directive interviews. Among a sample of 30 Tunisian individuals, we propose tow different frameworks: a mean-variance framework and a behavioral framework. Each framework is oriented to capture the effect of some concepts as proposed by the mean-variance portfolio theory and the behavioral portfolio theory on the portfolio choice decision. The originality of this research paper is guaranteed since it traits the behavioral portfolio choice in emergent markets. In the best of our knowledge this is the first study in the Tunisian context that explores such area of research. Ours results show that the Tunisian investors behave as it prescribed by the behavioral portfolio theory. They use some concepts proposed by the rational mean-variance theory of portfolio choice but they are affected by their emotions and some others cognitive bias when constructing and managing they portfolio of assets.

Twelve tips for successful e-tutoring using electronic portfolios.

Science.gov (United States)

Deketelaere, Ann; Degryse, Jan; De Munter, Agnes; De Leyn, Paul

2009-06-01

E-tutoring by means of a digital portfolio offers personal guidance in a context in which regular face-to-face contact between supervisor and student is difficult. However, implementing e-tutoring in practice is not always straightforward. This article investigates the conditions for successful e-tutoring of electronic portfolios. A combination of three methods is used: our own experience with e-tutoring, interviews with 14 tutors using an e-portfolio and the answers on questionnaires by 107 students. We present 12 tips to increase the chances of successful e-tutoring when using electronic portfolios. E-tutoring by means of electronic portfolios can be a feasible alternative in contexts in which face-to-face tutoring is difficult.

SunShot Initiative Portfolio Book 2014

Energy Technology Data Exchange (ETDEWEB)

Solar Energy Technologies Office

2014-05-01

The 2014 SunShot Initiative Portfolio Book outlines the progress towards the goals outlined in the SunShot Vision Study. Contents include overviews of each of SunShot’s five subprogram areas, as well as a description of every active project in the SunShot’s project portfolio as of May 2014.

Guidelines for Good Evaluation Practice with the ACUMEN portfolio

DEFF Research Database (Denmark)

Wildgaard, Lorna Elizabeth

2014-01-01

This document gives guidelines for using the ACUMEN Portfolio to evaluate academic researchers. The ACUMEN Portfolio is a way for Portfolio owners to highlight their achievements and to present themselves in the most positive way. It supplements the traditional CV because it highlights key achiev...

Selection of risk reduction portfolios under interval-valued probabilities

International Nuclear Information System (INIS)

Toppila, Antti; Salo, Ahti

2017-01-01

A central problem in risk management is that of identifying the optimal combination (or portfolio) of improvements that enhance the reliability of the system most through reducing failure event probabilities, subject to the availability of resources. This optimal portfolio can be sensitive with regard to epistemic uncertainties about the failure events' probabilities. In this paper, we develop an optimization model to support the allocation of resources to improvements that mitigate risks in coherent systems in which interval-valued probabilities defined by lower and upper bounds are employed to capture epistemic uncertainties. Decision recommendations are based on portfolio dominance: a resource allocation portfolio is dominated if there exists another portfolio that improves system reliability (i) at least as much for all feasible failure probabilities and (ii) strictly more for some feasible probabilities. Based on non-dominated portfolios, recommendations about improvements to implement are derived by inspecting in how many non-dominated portfolios a given improvement is contained. We present an exact method for computing the non-dominated portfolios. We also present an approximate method that simplifies the reliability function using total order interactions so that larger problem instances can be solved with reasonable computational effort. - Highlights: • Reliability allocation under epistemic uncertainty about probabilities. • Comparison of alternatives using dominance. • Computational methods for generating the non-dominated alternatives. • Deriving decision recommendations that are robust with respect to epistemic uncertainty.

Fault Tolerant Distributed Portfolio Optimization in Smart Grids

DEFF Research Database (Denmark)

Juelsgaard, Morten; Wisniewski, Rafal; Bendtsen, Jan Dimon

2014-01-01

optimization scheme for power balancing, where communication is allowed only between units that are linked in the graph. We include consumers with controllable consumption as an active part of the portfolio. We show that a suboptimal, but arbitrarily good power balancing can be obtained in an uncoordinated......, distributed optimization framework, and argue that the scheme will work even if the computation time is limited. We further show that our approach can tolerate changes in the portfolio, in the sense that increasing or reducing the number of units in the portfolio requires only local updates. This ensures......This work considers a portfolio of units for electrical power production and the problem of utilizing it to maintain power balance in the electrical grid. We treat the portfolio as a graph in which the nodes are distributed generators and the links are communication paths. We present a distributed...

Real Time Investments with Adequate Portfolio Theory

Directory of Open Access Journals (Sweden)

Alina Kvietkauskienė

2015-02-01

Full Text Available The objective of this paper is to identify investment decision makingschemes using the adequate portfolio model. This approach can be employed to project investment in stocks, using the opportunities offered by the markets and investor intelligence. It was decided to use adequate portfolio theory for investment decision making, simulation of financial markets, and optimisation of utility function. The main conclusion of article suggests investigating return on individual portfolio level. Real investment is a way to make sure of the soundness of applicable strategies.

Quantitative Portfolio Optimization Techniques Applied to the Brazilian Stock Market

Directory of Open Access Journals (Sweden)

André Alves Portela Santos

2012-09-01

Full Text Available In this paper we assess the out-of-sample performance of two alternative quantitative portfolio optimization techniques - mean-variance and minimum variance optimization – and compare their performance with respect to a naive 1/N (or equally-weighted portfolio and also to the market portfolio given by the Ibovespa. We focus on short selling-constrained portfolios and consider alternative estimators for the covariance matrices: sample covariance matrix, RiskMetrics, and three covariance estimators proposed by Ledoit and Wolf (2003, Ledoit and Wolf (2004a and Ledoit and Wolf (2004b. Taking into account alternative portfolio re-balancing frequencies, we compute out-of-sample performance statistics which indicate that the quantitative approaches delivered improved results in terms of lower portfolio volatility and better risk-adjusted returns. Moreover, the use of more sophisticated estimators for the covariance matrix generated optimal portfolios with lower turnover over time.

Leadership and empathy : looking through the eyes of another

NARCIS (Netherlands)

Smilde, Rineke

2015-01-01

Blog: Having a career with overlapping activities in today’s multi-faceted professional music practice requires musicians to exercise many roles at the same time, roles which extend beyond their artistic skills. Musicians need to be innovative, entrepreneurial and communicative, they need to be able

Portfolio optimization by using linear programing models based on genetic algorithm

Science.gov (United States)

Sukono; Hidayat, Y.; Lesmana, E.; Putra, A. S.; Napitupulu, H.; Supian, S.

2018-01-01

In this paper, we discussed the investment portfolio optimization using linear programming model based on genetic algorithms. It is assumed that the portfolio risk is measured by absolute standard deviation, and each investor has a risk tolerance on the investment portfolio. To complete the investment portfolio optimization problem, the issue is arranged into a linear programming model. Furthermore, determination of the optimum solution for linear programming is done by using a genetic algorithm. As a numerical illustration, we analyze some of the stocks traded on the capital market in Indonesia. Based on the analysis, it is shown that the portfolio optimization performed by genetic algorithm approach produces more optimal efficient portfolio, compared to the portfolio optimization performed by a linear programming algorithm approach. Therefore, genetic algorithms can be considered as an alternative on determining the investment portfolio optimization, particularly using linear programming models.

Information Acquisition and Portfolio Performance

OpenAIRE

Guiso, Luigi; Jappelli, Tullio

2006-01-01

Rational investors perceive correctly the value of financial information. Investment in information is therefore rewarded with a higher Sharpe ratio. Overconfident investors overstate the quality of their own information, and thus attain a lower Sharpe ratio. We contrast the implications of the two models using a unique survey of customers of an Italian leading bank with portfolio data and measures of financial information. We find that the portfolio Sharpe ratio is negatively associated with...

Mentoring portfolio use in undergraduate and postgraduate medical education

NARCIS (Netherlands)

Dekker, Hanke; Driessen, Erik; Ter Braak, Edith; Scheele, Fedde; Slaets, Joris; Van Der Molen, Thys; Cohen-Schotanus, Janke

2009-01-01

Aim: Mentoring is widely acknowledged as being crucial for portfolio learning. The aim of this study is to examine how mentoring portfolio use has been implemented in undergraduate and postgraduate settings. Method: The results of interviews with six key persons involved in setting up portfolio use

Land-Use Portfolio Modeler, Version 1.0

Science.gov (United States)

Taketa, Richard; Hong, Makiko

2010-01-01

Natural hazards pose significant threats to the public safety and economic health of many communities throughout the world. Community leaders and decision-makers continually face the challenges of planning and allocating limited resources to invest in protecting their communities against catastrophic losses from natural-hazard events. Public efforts to assess community vulnerability and encourage loss-reduction measures through mitigation often focused on either aggregating site-specific estimates or adopting standards based upon broad assumptions about regional risks. The site-specific method usually provided the most accurate estimates, but was prohibitively expensive, whereas regional risk assessments were often too general to be of practical use. Policy makers lacked a systematic and quantitative method for conducting a regional-scale risk assessment of natural hazards. In response, Bernknopf and others developed the portfolio model, an intermediate-scale approach to assessing natural-hazard risks and mitigation policy alternatives. The basis for the portfolio-model approach was inspired by financial portfolio theory, which prescribes a method of optimizing return on investment while reducing risk by diversifying investments in different security types. In this context, a security type represents a unique combination of features and hazard-risk level, while financial return is defined as the reduction in losses resulting from an investment in mitigation of chosen securities. Features are selected for mitigation and are modeled like investment portfolios. Earth-science and economic data for the features are combined and processed in order to analyze each of the portfolios, which are then used to evaluate the benefits of mitigating the risk in selected locations. Ultimately, the decision maker seeks to choose a portfolio representing a mitigation policy that maximizes the expected return-on-investment, while minimizing the uncertainty associated with that return

Household portfolios and risk taking over age and time

NARCIS (Netherlands)

Bucciol, A.; Miniaci, R.

2011-01-01

We exploit the US Survey of Consumer Finances (SCF) from 1998 to 2007 to provide new insights on the evolution of US households’ willingness to undertake portfolio risk. Specifically, we consider four alternative measures of portfolio risk, based on two definitions of portfolio - a narrow one,

Acreage portfolio management

International Nuclear Information System (INIS)

Schneider, G.M.

1992-01-01

This paper reports that the need for managing the acreage portfolio in the UK North Sea arises from fragmentation of holdings and complex field partnerships. The main concepts are building up the heartlands and balancing cashflow forecasts. This has generated a number of friendly win-win deals, motivated by differences in perception of values. The business process includes identifying, evaluating and negotiating deals. The Petroleum Economist plays a central role throughout this process, seeking value gaps and supporting negotiations. Variations in reserves estimates present a major source of value gaps between buyer and seller. Economists need to work closely with engineers and geologists. Portfolio management is an exciting and challenging task which broadens the traditional role of the Petroleum Economist

A Robust Statistics Approach to Minimum Variance Portfolio Optimization

Science.gov (United States)

Yang, Liusha; Couillet, Romain; McKay, Matthew R.

2015-12-01

We study the design of portfolios under a minimum risk criterion. The performance of the optimized portfolio relies on the accuracy of the estimated covariance matrix of the portfolio asset returns. For large portfolios, the number of available market returns is often of similar order to the number of assets, so that the sample covariance matrix performs poorly as a covariance estimator. Additionally, financial market data often contain outliers which, if not correctly handled, may further corrupt the covariance estimation. We address these shortcomings by studying the performance of a hybrid covariance matrix estimator based on Tyler's robust M-estimator and on Ledoit-Wolf's shrinkage estimator while assuming samples with heavy-tailed distribution. Employing recent results from random matrix theory, we develop a consistent estimator of (a scaled version of) the realized portfolio risk, which is minimized by optimizing online the shrinkage intensity. Our portfolio optimization method is shown via simulations to outperform existing methods both for synthetic and real market data.

Optimization of the bank's operating portfolio

Science.gov (United States)

Borodachev, S. M.; Medvedev, M. A.

2016-06-01

The theory of efficient portfolios developed by Markowitz is used to optimize the structure of the types of financial operations of a bank (bank portfolio) in order to increase the profit and reduce the risk. The focus of this paper is to check the stability of the model to errors in the original data.

Portfolio optimization using median-variance approach

Science.gov (United States)

Wan Mohd, Wan Rosanisah; Mohamad, Daud; Mohamed, Zulkifli

2013-04-01

Optimization models have been applied in many decision-making problems particularly in portfolio selection. Since the introduction of Markowitz's theory of portfolio selection, various approaches based on mathematical programming have been introduced such as mean-variance, mean-absolute deviation, mean-variance-skewness and conditional value-at-risk (CVaR) mainly to maximize return and minimize risk. However most of the approaches assume that the distribution of data is normal and this is not generally true. As an alternative, in this paper, we employ the median-variance approach to improve the portfolio optimization. This approach has successfully catered both types of normal and non-normal distribution of data. With this actual representation, we analyze and compare the rate of return and risk between the mean-variance and the median-variance based portfolio which consist of 30 stocks from Bursa Malaysia. The results in this study show that the median-variance approach is capable to produce a lower risk for each return earning as compared to the mean-variance approach.

A diversified portfolio model of adaptability.

Science.gov (United States)

Chandra, Siddharth; Leong, Frederick T L

2016-12-01

A new model of adaptability, the diversified portfolio model (DPM) of adaptability, is introduced. In the 1950s, Markowitz developed the financial portfolio model by demonstrating that investors could optimize the ratio of risk and return on their portfolios through risk diversification. The DPM integrates attractive features of a variety of models of adaptability, including Linville's self-complexity model, the risk and resilience model, and Bandura's social cognitive theory. The DPM draws on the concept of portfolio diversification, positing that diversified investment in multiple life experiences, life roles, and relationships promotes positive adaptation to life's challenges. The DPM provides a new integrative model of adaptability across the biopsychosocial levels of functioning. More importantly, the DPM addresses a gap in the literature by illuminating the antecedents of adaptive processes studied in a broad array of psychological models. The DPM is described in relation to the biopsychosocial model and propositions are offered regarding its utility in increasing adaptiveness. Recommendations for future research are also offered. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

Portfolio Selection Using Level Crossing Analysis

Science.gov (United States)

Bolgorian, Meysam; Shirazi, A. H.; Jafari, G. R.

Asset allocation is one of the most important and also challenging issues in finance. In this paper using level crossing analysis we introduce a new approach for portfolio selection. We introduce a portfolio index that is obtained based on minimizing the waiting time to receive known return and risk values. By the waiting time, we mean time that a special level is observed in average. The advantage of this approach is that the investors are able to set their goals based on gaining return and knowing the average waiting time and risk value at the same time. As an example we use our model for forming portfolio of stocks in Tehran Stock Exchange (TSE).

The Role of Learning- and Presentation- Portfolios in Design Educations

DEFF Research Database (Denmark)

Thomsen, Bente Dahl; Ovesen, Nis

2014-01-01

Students that primarily study design through team-based projects often struggle to develop presentation portfolios that differentiate from the ones of other students. In the industry, design managers experience this as a problem, as they often receive job applications with presentation portfolios...... resources from other activities, which is why the templates have to be carefully balanced in order to achieve the desired effect. The portfolio method proved to be especially good at illustrating process related competencies.......Students that primarily study design through team-based projects often struggle to develop presentation portfolios that differentiate from the ones of other students. In the industry, design managers experience this as a problem, as they often receive job applications with presentation portfolios...... of the portfolio method in engineering design educations, this research project has investigated the method as part of a course programme. The preliminary experiments and results show that learning portfolio templates are effective in strengthening certain activities. On the other hand, the method risks draining...

PORTFOLIO COMPOSITION WITH MINIMUM VARIANCE: COMPARISON WITH MARKET BENCHMARKS

Directory of Open Access Journals (Sweden)

Daniel Menezes Cavalcante

2016-07-01

Full Text Available Portfolio optimization strategies are advocated as being able to allow the composition of stocks portfolios that provide returns above market benchmarks. This study aims to determine whether, in fact, portfolios based on the minimum variance strategy, optimized by the Modern Portfolio Theory, are able to achieve earnings above market benchmarks in Brazil. Time series of 36 securities traded on the BM&FBOVESPA have been analyzed in a long period of time (1999-2012, with sample windows of 12, 36, 60 and 120 monthly observations. The results indicated that the minimum variance portfolio performance is superior to market benchmarks (CDI and IBOVESPA in terms of return and risk-adjusted return, especially in medium and long-term investment horizons.

Career opportunities and benefits for young oncologists in the European Society for Medical Oncology (ESMO)

DEFF Research Database (Denmark)

Morgan, Gilberto; Lambertini, Matteo; Kourie, Hampig Raphael

2016-01-01

The European Society for Medical Oncology (ESMO) is one of the leading societies of oncology professionals in the world. Approximately 30% of the 13 000 ESMO members are below the age of 40 and thus meet the society's definition of young oncologists (YOs). ESMO has identified the training...... and development of YOs as a priority and has therefore established a comprehensive career development programme. This includes a leadership development programme to help identify and develop the future leaders in oncology. Well-trained and highly motivated future generations of multidisciplinary oncologists...... are essential to ensure the optimal evolution of the field of oncology with the ultimate goal of providing the best possible care to patients with cancer. ESMO's career development portfolio is managed and continuously optimised by several dedicated committees composed of ESMO officers and is directly...

Spin glasses and nonlinear constraints in portfolio optimization

International Nuclear Information System (INIS)

Andrecut, M.

2014-01-01

We discuss the portfolio optimization problem with the obligatory deposits constraint. Recently it has been shown that as a consequence of this nonlinear constraint, the solution consists of an exponentially large number of optimal portfolios, completely different from each other, and extremely sensitive to any changes in the input parameters of the problem, making the concept of rational decision making questionable. Here we reformulate the problem using a quadratic obligatory deposits constraint, and we show that from the physics point of view, finding an optimal portfolio amounts to calculating the mean-field magnetizations of a random Ising model with the constraint of a constant magnetization norm. We show that the model reduces to an eigenproblem, with 2N solutions, where N is the number of assets defining the portfolio. Also, in order to illustrate our results, we present a detailed numerical example of a portfolio of several risky common stocks traded on the Nasdaq Market.

Spin glasses and nonlinear constraints in portfolio optimization

Energy Technology Data Exchange (ETDEWEB)

Andrecut, M., E-mail: mircea.andrecut@gmail.com

2014-01-17

We discuss the portfolio optimization problem with the obligatory deposits constraint. Recently it has been shown that as a consequence of this nonlinear constraint, the solution consists of an exponentially large number of optimal portfolios, completely different from each other, and extremely sensitive to any changes in the input parameters of the problem, making the concept of rational decision making questionable. Here we reformulate the problem using a quadratic obligatory deposits constraint, and we show that from the physics point of view, finding an optimal portfolio amounts to calculating the mean-field magnetizations of a random Ising model with the constraint of a constant magnetization norm. We show that the model reduces to an eigenproblem, with 2N solutions, where N is the number of assets defining the portfolio. Also, in order to illustrate our results, we present a detailed numerical example of a portfolio of several risky common stocks traded on the Nasdaq Market.

Musicians Crossing Musical Instrument Gender Stereotypes: A Study of Computer-Mediated Communication

Science.gov (United States)

Abeles, Harold F.; Hafeli, Mary; Sears, Colleen

2014-01-01

This study examined computer-mediated communication (CMC) -- blogs and responses to YouTube postings -- to better understand how CMCs reflect adolescents' attitudes towards musicians playing instruments that cross gender stereotypes. Employing purposive sampling, we used specific search terms, such as "girl drummer", to identify a…

Investigating Musical Performance: Commonality and Diversity among Classical and Non-Classical Musicians

Science.gov (United States)

Creech, Andrea; Papageorgi, Ioulia; Duffy, Celia; Morton, Frances; Hadden, Elizabeth; Potter, John; De Bezenac, Christophe; Whyton, Tony; Himonides, Evangelos; Welch, Graham

2008-01-01

The research project "Investigating Musical Performance: Comparative Studies in Advanced Musical Learning" was devised to investigate how classical, popular, jazz and Scottish traditional musicians deepen and develop their learning about performance in undergraduate, postgraduate and wider music community contexts. The aim of this paper is to…

Robust portfolio selection under norm uncertainty

Directory of Open Access Journals (Sweden)

Lei Wang

2016-06-01

Full Text Available Abstract In this paper, we consider the robust portfolio selection problem which has a data uncertainty described by the ( p , w $(p,w$ -norm in the objective function. We show that the robust formulation of this problem is equivalent to a linear optimization problem. Moreover, we present some numerical results concerning our robust portfolio selection problem.

MOSEP – More Self-Esteem With My E-Portfolio Development of a Train-the-Trainer Course for E-Portfolio Tutors

Directory of Open Access Journals (Sweden)

Wolf Hilzensauer

2009-03-01

Full Text Available E-portfolios are known as a technology- supported learning method for the documentation of competency development. In this article the didactic approach, the course design and the results of the Leonardo da Vinci project MOSEP (More self-esteem with my e-portfolio are described. The main objective of the project was to develop, test and evaluate a new e-portfolio training concept for teachers and tutors in order to support learners during their competence development phase.

Portfolio Diversification in the South-East European Equity Markets

Directory of Open Access Journals (Sweden)

Zaimovic Azra

2017-04-01

Full Text Available Diversification potential enables investors to manage their risk and decrease risk exposure. Good diversification policy is a safety net that prevents a portfolio from losing its value. A well-diversified portfolio consists of different categories of property with low correlations, while highly correlated markets have the feature of low possibilities for diversification. The biggest riddle in the world of investments is to find the optimal portfolio within a set of available assets with limited capital. There are numerous studies and mathematical models that deal with portfolio investment strategies. These strategies take advantage of diversification by spreading risk over several financial assets. Modern portfolio theory seeks to find the optimal model with the best results. This paper tries to identify relationships between returns of companies traded in South-East European equity markets. A Markowitz mean-variance (MV portfolio optimization method is used to identify possibilities for diversification among these markets and world leading capital markets. This research also offers insight into to the level of integration of South-East European equity markets. Principal component analysis (PCA is used to determine components that describe the strong patterns and co-movements of the dataset. Finally, we combined MV efficient frontier and equity, which represent PCA components, to draw conclusions. Our findings show that PC analysis substantially simplifies asset selection process in portfolio management. The results of the paper have practical applications for portfolio investors.

Portfolio optimization with structured products under return constraint

Directory of Open Access Journals (Sweden)

Baweja Meena

2015-01-01

Full Text Available A new approach for optimizing risk in a portfolio of financial instruments involving structured products is presented. This paper deals with a portfolio selection model which uses optimization methodology to minimize conditional Value-at-Risk (CVaR under return constraint. It focuses on minimizing CVaR rather than on minimizing value-at-Risk VaR, as portfolios with low CVaR necessarily have low VaR as well. We consider a simple investment problem where besides stocks and bonds, the investor can also include structured products into the investment portfolio. Due to possible intermediate payments from structured product, we have to deal with a re-investment problem modeled as a linear optimization problem.

Applying the partitioned multiobjective risk method (PMRM) to portfolio selection.

Science.gov (United States)

Reyes Santos, Joost; Haimes, Yacov Y

2004-06-01

The analysis of risk-return tradeoffs and their practical applications to portfolio analysis paved the way for Modern Portfolio Theory (MPT), which won Harry Markowitz a 1992 Nobel Prize in Economics. A typical approach in measuring a portfolio's expected return is based on the historical returns of the assets included in a portfolio. On the other hand, portfolio risk is usually measured using volatility, which is derived from the historical variance-covariance relationships among the portfolio assets. This article focuses on assessing portfolio risk, with emphasis on extreme risks. To date, volatility is a major measure of risk owing to its simplicity and validity for relatively small asset price fluctuations. Volatility is a justified measure for stable market performance, but it is weak in addressing portfolio risk under aberrant market fluctuations. Extreme market crashes such as that on October 19, 1987 ("Black Monday") and catastrophic events such as the terrorist attack of September 11, 2001 that led to a four-day suspension of trading on the New York Stock Exchange (NYSE) are a few examples where measuring risk via volatility can lead to inaccurate predictions. Thus, there is a need for a more robust metric of risk. By invoking the principles of the extreme-risk-analysis method through the partitioned multiobjective risk method (PMRM), this article contributes to the modeling of extreme risks in portfolio performance. A measure of an extreme portfolio risk, denoted by f(4), is defined as the conditional expectation for a lower-tail region of the distribution of the possible portfolio returns. This article presents a multiobjective problem formulation consisting of optimizing expected return and f(4), whose solution is determined using Evolver-a software that implements a genetic algorithm. Under business-as-usual market scenarios, the results of the proposed PMRM portfolio selection model are found to be compatible with those of the volatility-based model

Selling an Energy Efficiency Loan Portfolio in Oregon: Resale of the Craft3 loan portfolio to Self-Help Credit Union

Energy Technology Data Exchange (ETDEWEB)

Thompson, Peter; Borgeson, Merrian; Kramer, Chris; Zimring, Mark; Goldman, Charles

2014-05-30

Under the Clean Energy Works (CEW) program, Craft3 developed a loan product that widened access to financing for homeowners, offered long term funding, and collected repayments through the customer?s utility bill. The program?s success led Craft3 to pursue the sale of the loan portfolio to both mitigate its own risks and replenish funds for lending. This sale breaks new ground for energy efficiency finance and is notable as it was completed even with many novel program design elements. It replenished Craft3?s program capital and uncovered some valuable lessons that may facilitate future transactions. However, the lack of data history and the unproven nature of the loan portfolio meant that Craft3 had to limit the risk of losses to Self-Help, the purchaser of the portfolio. It remains to be seen whether this experience will pave the way for more sales of on-bill energy efficiency loan portfolios. This case study illustrates how certain program design decisions can sometimes both facilitate programmatic objectives and possibly present challenges for the sale of a portfolio of energy efficiency loans.

Portfolio Management System

Data.gov (United States)

US Agency for International Development — PfMS is an implementation of WorkLenz. WorkLenz is USAID's portfolio management system tool. It is a commercially available, off-the-shelf (COTS) package that...

Wavelet evolutionary network for complex-constrained portfolio rebalancing

Science.gov (United States)

Suganya, N. C.; Vijayalakshmi Pai, G. A.

2012-07-01

Portfolio rebalancing problem deals with resetting the proportion of different assets in a portfolio with respect to changing market conditions. The constraints included in the portfolio rebalancing problem are basic, cardinality, bounding, class and proportional transaction cost. In this study, a new heuristic algorithm named wavelet evolutionary network (WEN) is proposed for the solution of complex-constrained portfolio rebalancing problem. Initially, the empirical covariance matrix, one of the key inputs to the problem, is estimated using the wavelet shrinkage denoising technique to obtain better optimal portfolios. Secondly, the complex cardinality constraint is eliminated using k-means cluster analysis. Finally, WEN strategy with logical procedures is employed to find the initial proportion of investment in portfolio of assets and also rebalance them after certain period. Experimental studies of WEN are undertaken on Bombay Stock Exchange, India (BSE200 index, period: July 2001-July 2006) and Tokyo Stock Exchange, Japan (Nikkei225 index, period: March 2002-March 2007) data sets. The result obtained using WEN is compared with the only existing counterpart named Hopfield evolutionary network (HEN) strategy and also verifies that WEN performs better than HEN. In addition, different performance metrics and data envelopment analysis are carried out to prove the robustness and efficiency of WEN over HEN strategy.

Implementation of Portfolio Assessment in a Competency-based Dental Hygiene Program.

Science.gov (United States)

Gadbury-Amyot, Cynthia C.; Holt, Lorie P.; Overman, Pamela R.; Schmidt, Colleen R.

2000-01-01

Describes the implementation of a portfolio assessment program in the dental hygiene program at the University of Missouri School of Dentistry. Tables provide examples of program competencies and related portfolio entries, the complete scoring rubric for portfolios, and the student portfolio evaluation survey. Concludes that although portfolio…

AN EXAMPLE FOR PORTFOLIO PREPARATION IN GERMAN TEACHER TRAINING

Directory of Open Access Journals (Sweden)

Hüseyin ARAK

2017-04-01

Full Text Available In this study we are trying with the help of portfolio in teacher training and the diagnosis of the learning group concerning their skills in translation from German to Turkish, to show the documentation of the learning process. The portfolio provides a good overview about the performance of the students and it also prepares a basis for assessment. A growing self-awareness of students can be achieved through implementing the portfolio-method. The students should collect and reflect the most important materials and practices leading to key terms of the seminar. It is more than an assessment method it is a surrounding of learning. The work with portfolio has an influence on teaching, learning and assessing. As in detail, this is dependent on the aims and other characteristics of the models which take the portfolio work as a basis. The portfolio provides us a big advantage for the support of the cultural reflection. We can observe the process of the growth of knowledge step by step, because the measurement of the development in a determined period allows us either a written work or a Multiple Choice Test. In this sense we can look at the portfolio as an assessment instrument of a process.

Asset Attribution Stability and Portfolio Construction: An Educational Example

Science.gov (United States)

Chong, James T.; Jennings, William P.; Phillips, G. Michael

2014-01-01

This paper illustrates how a third statistic from asset pricing models, the R-squared statistic, may have information that can help in portfolio construction. Using a traditional CAPM model in comparison to an 18-factor Arbitrage Pricing Style Model, a portfolio separation test is conducted. Portfolio returns and risk metrics are compared using…

Career Awareness, Career Planning, and Career Transition Needs among Sports Coaches

Science.gov (United States)

Lavallee, David

2006-01-01

This study is conducted with 56 recently retired full-time sports coaches to examine the importance of career awareness, postsport career planning, and career transition needs. Results indicate that the individuals do not have a high level of career awareness, have done relatively little postsport career planning during their coaching careers, and…

Predictors and Portfolios Over the Life Cycle

DEFF Research Database (Denmark)

Kraft, Holger; Munk, Claus; Weiss, Farina

In a calibrated consumption-portfolio model with stock, housing, and labor income predictability, we evaluate the welfare effects of predictability on life-cycle consumption-portfolio choice. We compare skilled investors who are able to take advantage of all sources of predictability with unskilled...

Purchasing portfolio models: a critique and update

NARCIS (Netherlands)

Gelderman, C.J.; Weele, van A.J.

2005-01-01

Purchasing portfolio models have spawned considerable discussion in the literature. Many advantages and disadvantages have been put forward, revealing considerable divergence in opinion on the merits of portfolio models. This study addresses the question of whether or not the use of purchasing

Essays on intertemporal consumption and portfolio choice

NARCIS (Netherlands)

van Bilsen, Servaas

2015-01-01

This dissertation consists of two parts, preceded by an introductory chapter. Part I (Chapters 2, 3 and 4) considers optimal consumption and portfolio choice using preference models. Chapter 2 analyzes optimal consumption and portfolio choice under loss aversion and endogenous updating of the

ROMANIAN INVESTORS PORTFOLIO. ONLINE VERSUS ASSISTED TRADING

Directory of Open Access Journals (Sweden)

Ioana Ancuţa IANCU

2017-05-01

Full Text Available One of the most important aspects in deciding to trade online, alone, without the help of a broker, is the portfolio profitability. In this study, using the personal experience, survey data and secondary sources, we identify some factors that may influence the gain and the loss of investors which trade online. Our study contradicts other results from literature that claim that the transition from assisted to online trading is a big drawback in terms of portfolio profitability. By analyzing the performance of the portfolio when passing from assisted to online trading, we observe that half of the investors achieved identical profitability. We also observed that the efficiency of the portfolios belonging to the online investors that were assisted in the past by a broker for a short period, is lower compared to the ones assisted (in the past for a longer period.

Three Essays on Robust Optimization of Efficient Portfolios

OpenAIRE

Liu, Hao

2013-01-01

The mean-variance approach was first proposed by Markowitz (1952), and laid the foundation of the modern portfolio theory. Despite its theoretical appeal, the practical implementation of optimized portfolios is strongly restricted by the fact that the two inputs, the means and the covariance matrix of asset returns, are unknown and have to be estimated by available historical information. Due to the estimation risk inherited from inputs, desired properties of estimated optimal portfolios are ...

Psychosocial work aspects, stress and musculoskeletal pain among musicians. A systematic review in search of correlates and predictors of playing-related pain.

Science.gov (United States)

Jacukowicz, Aleksandra

2016-06-16

Musicians face numerous psychosocial and physical demands at work resulting in high prevalence of musculoskeletal problems. Unlike physical risks, little is known about psychosocial work factors influencing such health problems in this particular group. The paper aimed to identify psychosocial work demands resulting in musculoskeletal problems among musicians. A systematic review was undertaken to find data linking psychosocial work demands or stress with musculoskeletal disorders among musicians. The exploration of databases resulted in nine research studies linking psychosocial aspects of work or stress with musculoskeletal problems among musicians. The analyzed studies linked psychosocial aspects with musculoskeletal problems in three ways - showing proportions of people indicating particular causes of pain, indicating correlations between these variables or performing regression analysis showing psychosocial predictors of musculoskeletal pain. Only a few studies have undertaken the issue of psychosocial risk factors for musculoskeletal problems among musicians. The results revealed that some psychosocial aspects of work, e.g. long hours at work, work content, high job demands, low control/influence, lack of social support, were related to musculoskeletal pain, however, the methods and results were inconsistent. The extant studies employed variety of definitions of psychosocial aspects that hindered the possibility for consistent conclusions. Basing on those conclusions, future directions were offered.

Contract portfolio optimization for a gasoline supply chain

Science.gov (United States)

Wang, Shanshan

Major oil companies sell gasoline through three channels of trade: branded (associated with long-term contracts), unbranded (associated with short-term contracts), and spot market. The branded channel provides them with a long-term secured and sustainable demand source, but requires an inflexible long-term commitment with demand and price risks. The unbranded channel provides a medium level of allocation flexibility. The spot market provides them with the greatest allocation flexibility to the changing market conditions, but the spot market's illiquidity mitigates this benefit. In order to sell the product in a profitable and sustainable way, they need an optimal contract portfolio. This dissertation addresses the contract portfolio optimization problem from different perspectives (retrospective view and forward-looking view) at different levels (strategic level, tactical level and operational level). The objective of the retrospective operational model is to develop a financial case to estimate the business value of having a dynamic optimization model and quantify the opportunity values missed in the past. This model proves the financial significance of the problem and provides top management valuable insights into the business. BP has applied the insights and principles gained from this work and implemented the model to the entire Midwest gasoline supply chain to retrospectively review optimization opportunities. The strategic model is the most parsimonious model that captures the essential economic tradeoffs among different contract types, to demonstrate the need for a contract portfolio and what drives the portfolio. We examine the properties of the optimal contract portfolio and provide a comparative statics analysis by changing the model parameters. As the strategic model encapsulates the business problem at the macroscopic level, the tactical model resolves lower level issues. It considers the time dynamics, the information flow and contracting flow. Using

Portfolio Manager Selection – A Case Study

DEFF Research Database (Denmark)

Christensen, Michael

2017-01-01

Within a delegated portfolio management setting, this paper presents a case study of how the manager selection process can be operationalized in practice. Investors have to pursue a thorough screening of potential portfolio managers in order to discover their quality, and this paper discusses how...

Is there addiction to loud music? Findings in a group of non-professional pop/rock musicians.

Science.gov (United States)

Schmuziger, Nicolas; Patscheke, Jochen; Stieglitz, Rolf; Probst, Rudolf

2012-01-09

Listening to loud music may be connected to addictive behavior possibly leading to damaging effects on the cochlea. We hypothesized that members of non-professional pop/rock bands with regular exposure to loud music are more likely to show an addictive-like behavior for loud music than matched control subjects. Fifty non-professional musicians and 50 matched control subjects were asked to complete the Northeastern Music Listening Survey (NEMLS) with two basic components. The first comprises an adaptation of the validated Michigan Alcohol Screening Test (MAST) to study the addictive-like behavior towards loud music. The second comprises the criteria outlined by the fourth edition of the Diagnostic and Statistical Manual of Mental Disorders (DSM-IV) of the American Psychiatric Society for the diagnosis of substance dependence. The NEMLS was scored using the same point system as used in the MAST. The DSM-IV criteria for substance dependence were met by nine of the musician group and by one control subject. Seven of these nine musicians also had a positive NEMLS score. Traits of addictive-like behavior to loud music were detected more often in members of nonprofessional pop/rock bands than in control subjects.

Is there addiction to loud music? Findings in a group of non-professional pop/rock musicians

Directory of Open Access Journals (Sweden)

Nicolas Schmuziger

2012-07-01

Full Text Available Listening to loud music may be connected to addictive behavior possibly leading to damaging effects on the cochlea. We hypothesized that members of non-professional pop/rock bands with regular exposure to loud music are more likely to show an addictive-like behavior for loud music than matched control subjects. Fifty non-professional musicians and 50 matched control subjects were asked to complete the Northeastern Music Listening Survey (NEMLS with two basic components. The first comprises an adaptation of the validated Michigan Alcohol Screening Test (MAST to study the addictive-like behavior towards loud music. The second comprises the criteria outlined by the fourth edition of the Diagnostic and Statistical Manual of Mental Disorders (DSM-IV of the American Psychiatric Society for the diagnosis of substance dependence. The NEMLS was scored using the same point system as used in the MAST. The DSM-IV criteria for substance dependence were met by nine of the musician group and by one control subject. Seven of these nine musicians also had a positive NEMLS score. Traits of addictive-like behavior to loud music were detected more often in members of nonprofessional pop/rock bands than in control subjects.

Declarative Modeling for Production Order Portfolio Scheduling

Directory of Open Access Journals (Sweden)

Banaszak Zbigniew

2014-12-01

Full Text Available A declarative framework enabling to determine conditions as well as to develop decision-making software supporting small- and medium-sized enterprises aimed at unique, multi-project-like and mass customized oriented production is discussed. A set of unique production orders grouped into portfolio orders is considered. Operations executed along different production orders share available resources following a mutual exclusion protocol. A unique product or production batch is completed while following a given activity’s network order. The problem concerns scheduling a newly inserted project portfolio subject to constraints imposed by a multi-project environment The answers sought are: Can a given project portfolio specified by its cost and completion time be completed within the assumed time period in a manufacturing system in hand? Which manufacturing system capability guarantees the completion of a given project portfolio ordered under assumed cost and time constraints? The considered problems regard finding a computationally effective approach aimed at simultaneous routing and allocation as well as batching and scheduling of a newly ordered project portfolio subject to constraints imposed by a multi-project environment. The main objective is to provide a declarative model enabling to state a constraint satisfaction problem aimed at multi-project-like and mass customized oriented production scheduling. Multiple illustrative examples are discussed.

Management of Portfolio Investment Held by Pension Funds

Directory of Open Access Journals (Sweden)

Dan Armeanu

2008-09-01

Full Text Available As a result of the fact that pension funds are financial intermediaries, the value of their assets and liabilities is influenced by changing conditions in financial markets. The market image of a pension fund (and hence its perceived value are closely tied to the “financial health” of the fund. Setting up and managing complex investment portfolios requires that pension administrators use scientific models of portfolio selection and optimization based on the risk-expected return relationship. Most investment portfolios are modified in time as result of changing stock prices and investment policy objectives. Having established investment policy guidelines, the administrators of pension funds have to determine the structure of their portfolios so that the latter meet legal requirements.

The current account as a dynamic portfolio choice problem

OpenAIRE

Didier, Tatiana; Lowenkron, Alexandre

2009-01-01

The current account can be understood as the outcome of investment decisions made by domestic and foreign investors. These decisions can be decomposed into a portfolio rebalancing and a portfolio growth component. This paper provides empirical evidence of the importance of portfolio rebalancing for the dynamics of the current account. The authors evaluate the predictions of a partial-equil...

The Effect of Tactile Cues on Auditory Stream Segregation Ability of Musicians and Nonmusicians

DEFF Research Database (Denmark)

Slater, Kyle D.; Marozeau, Jeremy

2016-01-01

Difficulty perceiving music is often cited as one of the main problems facing hearing-impaired listeners. It has been suggested that musical enjoyment could be enhanced if sound information absent due to impairment is transmitted via other sensory modalities such as vision or touch. In this study...... the random melody. Tactile cues were applied to the listener’s fingers on half of the blocks. Results showed that tactile cues can significantly improve the melodic segregation ability in both musician and nonmusician groups in challenging listening conditions. Overall, the musician group performance...... was always better; however, the magnitude of improvement with the introduction of tactile cues was similar in both groups. This study suggests that hearing-impaired listeners could potentially benefit from a system transmitting such information via a tactile modality...

An Arbitrary Benchmark CAPM: One Additional Frontier Portfolio is Sufficient

OpenAIRE

Ekern, Steinar

2008-01-01

First draft: July 16, 2008 This version: October 7, 2008 The benchmark CAPM linearly relates the expected returns on an arbitrary asset, an arbitrary benchmark portfolio, and an arbitrary MV frontier portfolio. The benchmark is not required to be on the frontier and may be non-perfectly correlated with the frontier portfolio. The benchmark CAPM extends and generalizes previous CAPM formulations, including the zero beta, two correlated frontier portfolios, riskless augmented frontier, an...

Continuous-Time Mean-Variance Portfolio Selection under the CEV Process

OpenAIRE

Ma, Hui-qiang

2014-01-01

We consider a continuous-time mean-variance portfolio selection model when stock price follows the constant elasticity of variance (CEV) process. The aim of this paper is to derive an optimal portfolio strategy and the efficient frontier. The mean-variance portfolio selection problem is formulated as a linearly constrained convex program problem. By employing the Lagrange multiplier method and stochastic optimal control theory, we obtain the optimal portfolio strategy and mean-variance effici...

Processing of Complex Auditory Patterns in Musicians and Nonmusicians

OpenAIRE

Boh, Bastiaan; Herholz, Sibylle C.; Lappe, Claudia; Pantev, Christo

2011-01-01

In the present study we investigated the capacity of the memory store underlying the mismatch negativity (MMN) response in musicians and nonmusicians for complex tone patterns. While previous studies have focused either on the kind of information that can be encoded or on the decay of the memory trace over time, we studied capacity in terms of the length of tone sequences, i.e., the number of individual tones that can be fully encoded and maintained. By means of magnetoencephalography (MEG) w...

Methods of Choosing an Optimal Portfolio of Projects

OpenAIRE

Yakovlev, A.; Chernenko, M.

2016-01-01

This paper presents an analysis of existing methods for a portfolio of project optimization. The necessity for their improvement is shown. It is suggested to assess the portfolio of projects on the basis of the amount in the difference between the results and costs during development and implementation of selected projects and the losses caused by non-implementation or delayed implementation of projects that were not included in the portfolio. Consideration of capital and current costs compon...

PORTFOLIO OPTIMIZATION ON CROATIAN CAPITAL MARKET

Directory of Open Access Journals (Sweden)

Sinisa Bogdan

2013-12-01

Full Text Available Purpose of this paper was to research portfolio optimization problem on Croatian capital market using Markowitz theory. Research systematically investigated the selection of securities, and defined the importance of using fundamental analysis when selecting the best combination of securities. Since fundamental analysis involves a large number of indicators, this paper selected key indicators that enable a complete and quick securities review on the market. This paper clarifies diversification effect and influence of the correlation coefficient on diversification. Two basic types of assets (stocks and cash funds have been chosen to build the optimal portfolio. Cash funds were selected because they represent a form of risk-free investment, while stocks were chosen because of the high level of return which they achieve. At the end of paper, optimal portfolio was calculated with an excellent yield of 1.82% and deviation of 5.77% on a monthly basis which corresponds to the minimum deviation of the selected stocks. Calculated optimal portfolio achieves better expected value than investing in stock index CROBEX, which for the same period achieves the expected result of -0.02%.

e-Portfolio as reflection tool during teaching practice: The interplay ...

African Journals Online (AJOL)

This paper focuses on an e-portfolio pilot initiative at the Faculty of Education ... expectations of an e-portfolio aligns with the current practices and attributes ... will impact the potential success of the integration of e-portfolios as reflective tools.

Optimal Portfolio Choice with Wash Sale Constraints

DEFF Research Database (Denmark)

Astrup Jensen, Bjarne; Marekwica, Marcel

2011-01-01

We analytically solve the portfolio choice problem in the presence of wash sale constraints in a two-period model with one risky asset. Our results show that wash sale constraints can heavily affect portfolio choice of investors with unrealized losses. The trading behavior of such investors...

Delegated Portfolio Management and Optimal Allocation of Portfolio Managers

DEFF Research Database (Denmark)

Christensen, Michael; Vangsgaard Christensen, Michael; Gamskjaer, Ken

2015-01-01

In this article, we investigate whether the application of the mean-variance framework on portfolio manager allocation offers any out-of-sample benefits compared to a naïve strategy of equal weighting. Based on an exclusive data-set of high-net-worth (HNW) investors, we utilize a wide variety of ...

The influence of volatility spill-overs and market beta on portfolio construction

Directory of Open Access Journals (Sweden)

André Heymans

2015-05-01

Full Text Available This study adds to Modern Portfolio Theory (MPT by providing an additional measure to market beta in constructing a more efficient investment portfolio. The additional measure analyses the volatility spill-over effects among stocks within the same portfolio. Using intraday stock returns from five top-40 listed stocks on the JSE between July 2008 and April 2010, volatility spill-over effects were estimated with a residual- based test (aggregate shock [AS] model framework. It is shown that when a particular stock attracted fewer volatility spill-over effects from the other stocks in the portfolio, the overall portfolio volatility decreased as well. In most cases market beta showcased similar results. Therefore, in order to construct a more efficient risk- adjusted portfolio, one requires both a portfolio that has a unit correlation with the market (beta-based, and stocks that showcase the least amount of volatility spill-over effects amongst one another. These results might assist portfolio managers to construct lower mean variance portfolios.

Student Musicians' Ear-Playing Ability as a Function of Vernacular Music Experiences

Science.gov (United States)

Woody, Robert H.; Lehmann, Andreas C.

2010-01-01

This study explored the differences in ear-playing ability between formal "classical" musicians and those with vernacular music experience (N = 24). Participants heard melodies and performed them back, either by singing or playing on their instruments. The authors tracked the number of times through the listen-then-perform cycle that each…

Musicians' Memory for Verbal and Tonal Materials under Conditions of Irrelevant Sound

Science.gov (United States)

Williamson, Victoria J.; Mitchell, Tom; Hitch, Graham J.; Baddeley, Alan D.

2010-01-01

Studying short-term memory within the framework of the working memory model and its associated paradigms (Baddeley, 2000; Baddeley & Hitch, 1974) offers the chance to compare similarities and differences between the way that verbal and tonal materials are processed. This study examined amateur musicians' short-term memory using a newly adapted…

An assessment of threshold shifts in nonprofessional pop/rock musicians using conventional and extended high-frequency audiometry.

Science.gov (United States)

Schmuziger, Nicolas; Patscheke, Jochen; Probst, Rudolf

2007-09-01

The clinical value of extended high-frequency audiometry for the detection of noise-induced hearing loss has not been established conclusively. The purpose of this study was to assess the relative temporary threshold shift (TTS) in two frequency regions (conventional versus extended high frequency). In this exploratory study, pure-tone thresholds from 0.5 to 14 kHz were measured in both ears of 16 nonprofessional pop/rock musicians (mean age, 35 yr; range, 27 to 49 yr), before and after a 90-minute rehearsal session. All had experienced repeated exposures to intense sound levels during at least 5 yr of their musical careers. After the rehearsal, median threshold levels were found to be significantly poorer for frequencies from 0.5 to 8 kHz (Wilcoxon signed rank test, p

Learning to Select Supplier Portfolios for Service Supply Chain.

Science.gov (United States)

Zhang, Rui; Li, Jingfei; Wu, Shaoyu; Meng, Dabin

2016-01-01

The research on service supply chain has attracted more and more focus from both academia and industrial community. In a service supply chain, the selection of supplier portfolio is an important and difficult problem due to the fact that a supplier portfolio may include multiple suppliers from a variety of fields. To address this problem, we propose a novel supplier portfolio selection method based on a well known machine learning approach, i.e., Ranking Neural Network (RankNet). In the proposed method, we regard the problem of supplier portfolio selection as a ranking problem, which integrates a large scale of decision making features into a ranking neural network. Extensive simulation experiments are conducted, which demonstrate the feasibility and effectiveness of the proposed method. The proposed supplier portfolio selection model can be applied in a real corporation easily in the future.

E-Portfolio Web-based for Students’ Internship Program Activities

Science.gov (United States)

Juhana, A.; Abdullah, A. G.; Somantri, M.; Aryadi, S.; Zakaria, D.; Amelia, N.; Arasid, W.

2018-02-01

Internship program is an important part in vocational education process to improve the quality of competent graduates. The complete work documentation process in electronic portfolio (e-Portfolio) platform will facilitate students in reporting the results of their work to both university and industry supervisor. The purpose of this research is to create a more easily accessed e-Portfolio which is appropriate for students and supervisors’ need in documenting their work and monitoring process. The method used in this research is fundamental research. This research is focused on the implementation of internship e-Portfolio features by demonstrating them to students who have conducted internship program. The result of this research is to create a proper web-based e-Portfolio which can be used to facilitate students in documenting the results of their work and aid supervisors in monitoring process during internship.

Kinetic characteristics of the gait of a musician carrying or not his instrument

Directory of Open Access Journals (Sweden)

Carlos Bolli Mota

2009-01-01

Full Text Available The integrity of the locomotor system can be compromised by the transport of certain objects, especially when done in an inadequate manner. Due to their weight and size, the transport of musical instruments can contribute to body dysfunctions in musicians who frequently have to carry their instruments, influencing balance andbody posture. Thus, the soil reaction force was investigated during the gait of a musician carrying or not his instrument. Two AMTI (Advanced Mechanical Technologies, Inc. platforms were used for kinetic data acquisition. A total of 40 measurements were obtainedfor gait and balance: 20 without carrying the instrument and 20 while carrying the instrument. The t test showed significant differences between the two situations for all variables analyzed. The results suggest that the locomotor system suffers alterationswhen carrying any kind of load, as was the case here in which the subject carried 7.75% of his own weight.

Multi-objective possibilistic model for portfolio selection with transaction cost

Science.gov (United States)

Jana, P.; Roy, T. K.; Mazumder, S. K.

2009-06-01

In this paper, we introduce the possibilistic mean value and variance of continuous distribution, rather than probability distributions. We propose a multi-objective Portfolio based model and added another entropy objective function to generate a well diversified asset portfolio within optimal asset allocation. For quantifying any potential return and risk, portfolio liquidity is taken into account and a multi-objective non-linear programming model for portfolio rebalancing with transaction cost is proposed. The models are illustrated with numerical examples.

Career adaptability and career entrenchment

NARCIS (Netherlands)

Zacher, Hannes; Ambiel, Rodolfo A.M.; Noronha, Ana Paula Porto

2015-01-01

Career adaptability constitutes a resource that can help employees to effectively manage career changes and challenges. The goal of this study was to investigate the relationship between the two higher-order constructs of career adaptability and career entrenchment (i.e., the perceived inability

Status of portfolios in undergraduate medical education in the LCME accredited US medical school.

Science.gov (United States)

Chertoff, Jason; Wright, Ashleigh; Novak, Maureen; Fantone, Joseph; Fleming, Amy; Ahmed, Toufeeq; Green, Marianne M; Kalet, Adina; Linsenmeyer, Machelle; Jacobs, Joshua; Dokter, Christina; Zaidi, Zareen

2016-09-01

We sought to investigate the number of US medical schools utilizing portfolios, the format of portfolios, information technology (IT) innovations, purpose of portfolios and their ability to engage faculty and students. A 21-question survey regarding portfolios was sent to the 141 LCME-accredited, US medical schools. The response rate was 50% (71/141); 47% of respondents (33/71) reported that their medical school used portfolios in some form. Of those, 7% reported the use of paper-based portfolios and 76% use electronic portfolios. Forty-five percent reported portfolio use for formative evaluation only; 48% for both formative and summative evaluation, and 3% for summative evaluation alone. Seventy-two percent developed a longitudinal, competency-based portfolio. The most common feature of portfolios was reflective writing (79%). Seventy-three percent allow access to the portfolio off-campus, 58% allow usage of tablets and mobile devices, and 9% involve social media within the portfolio. Eighty percent and 69% agreed that the portfolio engaged students and faculty, respectively. Ninety-seven percent reported that the portfolios used at their institution have room for improvement. While there is significant variation in the purpose and structure of portfolios in the medical schools surveyed, most schools using portfolios reported a high level of engagement with students and faculty.

Portfolio Evaluation Based on Efficient Frontier Superiority Using Center of Gravity

Directory of Open Access Journals (Sweden)

Omar Samat

2010-01-01

Full Text Available Investing in portfolio of assets is the best way to reduce the investment risk. The most desired portfolio can be obtained when investors chose to invest in the portfolios that lay on the portfolio’s efficient frontier. However, the superiorities of the portfolios are difficult to differentiate especially when the efficient frontier curves are overlapping. This paper proposed the portfolio’s efficient frontier center of gravity (CoG and Euclidean distance to identify its superiority. A sample of 49 stocks of large-cap and small-cap were used to construct two hypothetical portfolios and its efficient frontiers. The Euclidean distance showed that the large-cap portfolio is superior and having wider feasible solutions compared to the small-cap portfolio. The results of new tool introduced are consistent with the conventional methods. Here the theoretical and practical implications are provided in light of the findings.

Robust Portfolio Optimization using CAPM Approach

Directory of Open Access Journals (Sweden)

mohsen gharakhani

2013-08-01

Full Text Available In this paper, a new robust model of multi-period portfolio problem has been developed. One of the key concerns in any asset allocation problem is how to cope with uncertainty about future returns. There are some approaches in the literature for this purpose including stochastic programming and robust optimization. Applying these techniques to multi-period portfolio problem may increase the problem size in a way that the resulting model is intractable. In this paper, a novel approach has been proposed to formulate multi-period portfolio problem as an uncertain linear program assuming that asset return follows the single-index factor model. Robust optimization technique has been also used to solve the problem. In order to evaluate the performance of the proposed model, a numerical example has been applied using simulated data.

A ubiquitous reflective e-portfolio architecture.

Science.gov (United States)

Forte, Marcos; de Souza, Wanderley L; da Silva, Roseli F; do Prado, Antonio F; Rodrigues, Jose F

2013-11-01

In nurse and in medicine courses, the use of reflective portfolios as a pedagogical tool is becoming a common practice; in the last years, this practice has gradually migrated from paper-based to electronic-based portfolios. Current approaches for reflective e-portfolios, however, do not widely operate at outdoor sites, where data networks are limited or nonexistent. Considering that many of the activities related to nurse and medicine courses relate to professional practices conducted in such conditions, these network shortcomings restrict the adoption of e-portfolios. The present study describes the requirements specification, design, implementation, and evaluation of the Ubiquitous Reflective E-Portfolio Architecture, a solution proposed to support the development of systems based on mobile and wired access for both online and offline operation. We have implemented a prototype named Professional Practice Module to evaluate the Ubiquitous Reflective E-Portfolio Architecture; the module was based on requirements observed during the professional practice, the paper-based portfolio in use, and related learning meetings in the Medicine Course of a Brazilian University. The evaluation of the system was carried out with a learning group of 2nd year students of the medicine course, who answered to extensive evaluation questionnaires. The prototype proved to be operational in the activities of the professional practice of the Medicine Course object of the study, including homework tasks, patient care, data sharing, and learning meetings. It also demonstrated to be versatile with respect to the availability of the computer network that, many times, was not accessible. Moreover, the students considered the module useful and easy to use, but pointed out difficulties about the keyboard and the display sizes of the netbook devices, and about their operational system. Lastly, most of the students declared preference for the electronic Professional Practice Module in internal

[Death and the pop musician].

Science.gov (United States)

de Leeuw, Peter W

2011-01-01

Many people are inclined to believe that popular music artists are prone to die prematurely. Scientific research into this matter is scarce. There is only one epidemiological study on this subject, showing that mortality among pop stars during the first 25 years after they became famous is increased. This mortality is higher in Northern America than it is in Europe, but European pop stars die on average at an earlier age. A fairly common belief states that many pop stars die at the age of 27 years. This age has even been proclaimed as the most critical for modern musicians. However, data of several hundred deceased pop stars shows no evidence for increased mortality at the age of 27. Moreover, the data suggests that the age of death has increased over the past forty years. As far as the cause of death is concerned, overdose of drugs or alcohol rank highly next to cardiovascular disease and malignancy.

Do wind and brass players snore less? A cross-sectional study of snoring and daytime fatigue in professional orchestral musicians.

Science.gov (United States)

Wardrop, P J C; Ravichandran, S; Hair, M; Robertson, S M; Sword, D

2011-04-01

To determine whether playing a wind or brass musical instrument is associated with reduced snoring or daytime fatigue. Cross-sectional, controlled, anonymous, questionnaire-based observational study. Rehearsal and performance halls. Three hundred and forty musicians from Scotland's five professional orchestras. Snore Outcomes Survey questionnaire and the Epworth Sleepiness Score. Hierarchical linear regression analysis. No significant difference was found between the snoring severity (Snore Outcomes Survey score) or daytime sleepiness (Epworth score) of wind/brass and other professional musicians. A regression model with snoring severity (Snore Outcomes Survey score) as the dependent variable and the three covariates of gender, age and body mass index as independent variables was significant [F(3, 206) = 28.77, P study demonstrated no significant difference between the snoring severity or daytime sleepiness of brass/wind players and other professional orchestral musicians. This result may have been attributed to comparatively low levels of snoring/daytime sleepiness in the population studied. The findings contrast with previous studies examining the effects of singing and didgeridoo playing but concur with a recent similar study of orchestral musicians. A prospective interventional study would be required to determine whether playing a wind or brass instrument improves these variables in patients complaining of disruptive snoring. © 2011 Blackwell Publishing Ltd.

Developing a framework for energy technology portfolio selection

Science.gov (United States)

Davoudpour, Hamid; Ashrafi, Maryam

2012-11-01

Today, the increased consumption of energy in world, in addition to the risk of quick exhaustion of fossil resources, has forced industrial firms and organizations to utilize energy technology portfolio management tools viewed both as a process of diversification of energy sources and optimal use of available energy sources. Furthermore, the rapid development of technologies, their increasing complexity and variety, and market dynamics have made the task of technology portfolio selection difficult. Considering high level of competitiveness, organizations need to strategically allocate their limited resources to the best subset of possible candidates. This paper presents the results of developing a mathematical model for energy technology portfolio selection at a R&D center maximizing support of the organization's strategy and values. The model balances the cost and benefit of the entire portfolio.

On long-only information-based portfolio diversification framework

Science.gov (United States)

Santos, Raphael A.; Takada, Hellinton H.

2014-12-01

Using the concepts from information theory, it is possible to improve the traditional frameworks for long-only asset allocation. In modern portfolio theory, the investor has two basic procedures: the choice of a portfolio that maximizes its risk-adjusted excess return or the mixed allocation between the maximum Sharpe portfolio and the risk-free asset. In the literature, the first procedure was already addressed using information theory. One contribution of this paper is the consideration of the second procedure in the information theory context. The performance of these approaches was compared with three traditional asset allocation methodologies: the Markowitz's mean-variance, the resampled mean-variance and the equally weighted portfolio. Using simulated and real data, the information theory-based methodologies were verified to be more robust when dealing with the estimation errors.

Musical Interests and Talent: Twin Jazz Musicians and Twin Studies/Twin Research: Loss of a Preterm Multiple; Conjoined Twin Conception; Depression in Fathers of Twins; Twin-to-Twin Transfusion Syndrome/Twin News: High-Achieving Twins; Twin Children of a Tennis Star; Conjoined Twin Separation; Twin Delivery to a Giant Panda.

Science.gov (United States)

Segal, Nancy L

2017-12-01

Findings from twin studies of musical interests and talent are reviewed as a backdrop to the lives and careers of twin jazz musicians, Peter and Will Anderson. The Anderson twins exemplify many aspects of twin research, namely their matched musical abilities, shared musical interests, and common career. This overview is followed by reviews of studies and case reports of bereavement in families who have lost a preterm multiple birth infant, the conception of conjoined twins following in vitro fertilization (IVF), depression in fathers of twins, and twin-to-twin transfusion incidence in monochorionic-diamniotic IVF twin pairs. Twins highlighted in the media include high-achieving identical female twins with nearly identical academic standing, tennis star Roger Federer's two sets of identical twin children, surgical separation of craniopagus conjoined twins, and the rare delivery of twins to a 23-year-old giant panda.

Evaluation of the probabilistic safety assessment portfolio for NSD. Plan of work

International Nuclear Information System (INIS)

Gould, J.

1999-01-01

The aim is to use the research portfolio evaluation protocol developed by HSL to evaluate the Probabilistic Safety Assessment (PSA) portfolio, both to draw conclusions about the PSA portfolio and as a pilot study to show the suitability of the evaluation protocol. The objectives of the work are: (1) To collect sufficient information to carry out a preliminary review of the portfolio; (2) o produce a plan of work detailing the time and costs to carry out a full evaluation of the PSA portfolio; (3) to evaluate the PSA portfolio of research; (4) to produce a report of the evaluation of the PSA portfolio; (5) if necessary, to make changes to the methodology in light of the experience gained in the evaluation of the PSA research portfolio. This report completes objectives 1 and 2. It details the plan of work for the evaluation of the PSA research portfolio. The plan has shown that the evaluation of the PSA research portfolio has many difficulties to overcome. It is suitable as a pilot study to show the suitability of the portfolio evaluation protocol and will provide valuable information that can be used to improve it. The evaluation of the PSA portfolio will require a considerable amount of time and effort to complete. The task analysis has shown it to be of the order of Pound Sterling 25k and to take two months to complete after this preliminary data collection. The plan to evaluate the PSA research portfolio detailed in this report should be carried out and the lessons learned by carrying out this pilot study should be used to improve the evaluation protocol

Long-term portfolio investments: New insight into return and risk