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See detailSkewness Risk Premium: Theory and Empirical Evidence
Lin, Yuehao; Lehnert, Thorsten UL; Wolff, Christian UL

in International Review of Financial Analysis (in press)

Using an equilibrium asset and option pricing model in a simple economy under jump diffusion, we show theoretically that the aggregated excess market returns can be predicted by the skewness risk premium ... [more ▼]

Using an equilibrium asset and option pricing model in a simple economy under jump diffusion, we show theoretically that the aggregated excess market returns can be predicted by the skewness risk premium, which is constructed to be the difference between the physical and the risk-neutral skewness. In an empirical application of the model using more than 20 years of data on S&P500 index options, we find that, in line with theory, risk-averse investors demand risk-compensation for holding stocks when the market skewness risk premium is high. However, when we characterize periods of high and low risk aversion, we show that in line with theory, the relationship only holds when risk aversion is high. In periods of low risk aversion, investors demand lower risk compensation, thus substantially weakening the skewness-risk-premium-return trade off. [less ▲]

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See detailL’autobiographie dans la littérature de l’immigration italienne du Luxembourg et de la Grande Région
Cicotti, Claudio UL

in Cicotti, Claudio (Ed.) La volonté d s'écrire (in press)

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See detailLuxembourg: Grand-Duke Henri’s refusal, in 2008, to sign the bill legalizing euthanasia
Heuschling, Luc UL

in Hazell, Robert; Morris, Bob (Eds.) European Monarchies Compared (in press)

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See detailUmfrage - Einführung in die Methoden der Umfrageforschung
Jacob, Rüdiger; Heinz, Andreas UL; Decieux, Jean Philippe Pierre UL

Book published by De Gruyter Oldenbourg - 4 (in press)

Das Buch vermittelt theoretische Grundlagen und praxisnahe Kenntnisse zu wissenschaftlichen Umfragen. Mit Hilfe dieser Kenntnisse kann der Leser Umfragen sowohl kritisch beurteilen als auch Fragebögen ... [more ▼]

Das Buch vermittelt theoretische Grundlagen und praxisnahe Kenntnisse zu wissenschaftlichen Umfragen. Mit Hilfe dieser Kenntnisse kann der Leser Umfragen sowohl kritisch beurteilen als auch Fragebögen selbst nach den gültigen wissenschaftlichen Standards erstellen. Damit wird dem in den letzten Jahren zunehmenden Problem mangelnder Gültigkeit und Zuverlässigkeit von Befragungsdaten entgegengewirkt. Der Schwerpunkt liegt auf Hinweisen zur Formulierung von Fragen und zur Konstruktion von Fragebögen, daneben werden aber auch viele andere Probleme behandelt, wie z.B. Fragen des Forschungsdesigns oder der Planung und Durchführung der Feldarbeit. Neben postalischen, persönlichen und telefonischen Befragungen werden auch Online-, Mobile und Mixed-Mode-Befragungen erläutert. Das Buch schließt die Lücke zwischen allgemeinen Lehrbüchern zur empirischen Sozialforschung einerseits und speziellen Lehr- und Handbüchern zur Datenanalyse andererseits. [less ▲]

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See detailDo banks and microfinance institutions compete? Microevidence from Madagascar
Leon, Florian UL; Baraton, Pierrick

in Economic Development and Cultural Change (in press)

This paper examines whether the loan strategy of a microfinance institution is shaped by the entry of a bank. Specifically, we investigate whether the distance between a borrower of a microfinance ... [more ▼]

This paper examines whether the loan strategy of a microfinance institution is shaped by the entry of a bank. Specifically, we investigate whether the distance between a borrower of a microfinance institution and the closest bank influences loan conditions provided by the microfinance institution. We use an original panel dataset of 32,374 loans granted to 14,834 borrowers provided by one of the largest microfinance institutions in Madagascar between 2008 and 2014. We find that the closer a bank is located to a given MFI borrower, the larger the loan obtained and the less collateral required. We also find that the effect is stronger for clients that could be more easily caught by banks (i.e., large firms and clients without a previous relationship with the MFI). [less ▲]

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See detailGleanings from applications for the graph-based exploration of cultural heritage collections
During, Marten UL

in Kerschbaumer, Florian; Keyserlingk, Linda Von; Stark, Martin (Eds.) et al The Power of Networks. Prospects of Historical Network Research (in press)

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See detailAre Capital Requirements on Small Business Loans Flawed?
Wolff, Christian UL

in Journal of Empirical Finance (in press)

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See detailA Survey on Mobile Crowdsensing Systems: Challenges, Solutions and Opportunities
Capponi, Andrea UL; Fiandrino, Claudio UL; Kantarci, Burak et al

in IEEE Communications Surveys and Tutorials (in press)

Mobile crowdsensing (MCS) has gained significant attention in recent years and has become an appealing paradigm for urban sensing. For data collection, MCS systems rely on contribution from mobile devices ... [more ▼]

Mobile crowdsensing (MCS) has gained significant attention in recent years and has become an appealing paradigm for urban sensing. For data collection, MCS systems rely on contribution from mobile devices of a large number of participants or a crowd. Smartphones, tablets, and wearable devices are deployed widely and already equipped with a rich set of sensors, making them an excellent source of information. Mobility and intelligence of humans guarantee higher coverage and better context awareness if compared to traditional sensor networks. At the same time, individuals may be reluctant to share data for privacy concerns. For this reason, MCS frameworks are specifically designed to include incentive mechanisms and address privacy concerns. Despite the growing interest in the research community, MCS solutions need a deeper investigation and categorization on many aspects that span from sensing and communication to system management and data storage. In this paper, we take the research on MCS a step further by presenting a survey on existing works in the domain and propose a detailed taxonomy to shed light on the current landscape and classify applications, methodologies, and architectures. Our objective is not only to analyze and consolidate past research but also to outline potential future research directions and synergies with other research areas. [less ▲]

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See detailBook review: Bessey, Valérie et Werner Paravicini: Guerre des manifestes : Charles le Téméraire et ses ennemis (1465-1475)
Genot, Gilles UL

in Hemecht: Zeitschrift für Luxemburger Geschichte (in press)

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See detailSelf-Regulation of Fundamental Rights? The EU Code of Conduct on Hate Speech, Related Initiatives and Beyond
Quintel, Teresa Alegra UL; Ullrich, Carsten UL

in Ojanen, Tuomas; Petkova, Bilyana (Eds.) Fundamental Rights Protection Online: the Future Regulation of Intermediaries (in press)

This contribution will give a brief overview of EU legislation encouraging self-regulation, such as codes of conduct, communications and recommendations and propose an alternative approach towards ... [more ▼]

This contribution will give a brief overview of EU legislation encouraging self-regulation, such as codes of conduct, communications and recommendations and propose an alternative approach towards fighting illegal content on online platforms, which ventures squarely into co-regulation. There is no formal and straightforward definition on what constitutes illegal hate speech. However, hate speech might be classified as targeting minority groups in a way that promotes violence or social disorder and hatred. The use of social media and online platforms to spread illegal content and hate speech has increased progressively during recent years, as content may be disseminated anonymously and further shared by other users. Therefore, the timely removal or blocking of access to illegal content is essential to limit the wider dissemination and harm of individuals targeted by hate speech. The prominent role of online platforms in revolutionizing modern communication and as influencers of the public opinion has increasingly come to the attention of policy makers. Since online platforms provide an important stage for phenomena such as ‘fake news’, ‘hate speech’ or ‘disinformation’, the pressure to take more responsibility over content hosted by them has grown. The EU Commission took action via several attempts to set certain rules for online intermediaries, mostly relying on non-binding agreements, often in the form of self-regulatory measures, such as codes of conduct, guidelines and recommendations. These measures have raised concerns regarding possible limitations of Freedom of Expression, because they require online platforms to adjudicate on the legality of content, often by relying on automated systems. Meanwhile decisions over the unlawfulness of hate speech and “disinformation” are often notoriously difficult. The deployment of algorithms to analyse the content generated on platforms, such as recognition and filtering technologies, bear risks and pitfalls of automated compliance solutions. Although the use of algorithms to monitor content online still happens based on the “human-in-the-loop principle”, the diligence and efficiency with which illegal content can be reviewed is also dependent on the financial capacity and resources of each company. In addition, these privatized removal procedures maybe influenced by commercial interests and lack effective appeals mechanisms. All these issues throw up serious questions about the democratic legitimacy of self-regulatory removal procedures An alternative solution, proposed in this article, would require platforms to apply a risk-based approach to preventing and removing illegal content. The norms and standards of such an approach would be based on duty of care and be subject to regulatory oversight. It is suggested that the current self-regulatory proposals be replaced by co-regulatory solutions. [less ▲]

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See detailLet’s Open the Decision-Making Umbrella: A Framework for Conceptualizing and Assessing Features of Impaired Decision Making in Addiction
Rochat, Lucien; Maurage, Pierre; Heeren, Alexandre et al

in Neuropsychology Review (in press), 29(1), 27-51

Decision-making impairments play a pivotal role in the emergence and maintenance of addictive disorders. However, a sound conceptualization of decision making as an umbrella construct, encompassing its ... [more ▼]

Decision-making impairments play a pivotal role in the emergence and maintenance of addictive disorders. However, a sound conceptualization of decision making as an umbrella construct, encompassing its cognitive, affective, motivational, and physiological subcomponents, is still lacking. This prevents an efficient evaluation of the heterogeneity of decision-making impairments and the development of tailored treatment. This paper thus unfolds the various processes involved in decision making by adopting a critical approach of prominent dual- or triadic-process models, which postulate that decision making is influenced by the interplay of impulsive-automatic, reflective-controlled, and interoceptive processes. Our approach also focuses on social cognition processes, which play a crucial role in decision making and addictive disorders but were largely ignored in previous dual- or triadic-process models. We propose here a theoretical framework in which a range of coordinated processes are first identified on the basis of their theoretical and clinical relevance. Each selected process is then defined before reviewing available results underlining its role in addictive disorders (i.e., substance use, gambling, and gaming disorders). Laboratory tasks for measuring each process are also proposed, initiating a preliminary process-based decision-making assessment battery. This original approach may offer an especially informative view of the constitutive features of decision making impairments in addiction. As prior research has implicated these features as risk factors for the development and maintenance of addictive disorders, our processual approach sets the scene for novel and transdiagnostic experimental and applied research avenues [less ▲]

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See detailWeb-based QTL linkage analysis and bulk segregant analysis of yeast sequencing data
Zhang, Zhi; Jung, Paul; Groues, Valentin UL et al

in GigaScience (in press)

Quantitative Trait Loci (QTL) mapping using bulk segregants is an effective approach for identifying genetic variants associated with phenotypes of interest in model organisms. By exploiting next ... [more ▼]

Quantitative Trait Loci (QTL) mapping using bulk segregants is an effective approach for identifying genetic variants associated with phenotypes of interest in model organisms. By exploiting next-generation sequencing technology, the QTL mapping accuracy can be improved significantly, providing a valuable means to annotate new genetic variants. However, setting up a comprehensive analysis framework for this purpose is a time-consuming and error prone task, posing many challenges for scientists with limited experience in this domain. Findings: Here, we present BSA4Yeast, a comprehensive web-application for QTL mapping via bulk segregant analysis of yeast sequencing data. The software provides an automated and efficiency-optimized data processing, up-to-date functional annotations, and an interactive web-interface to explore identified QTLs. Conclusion: BSA4Yeast enables researchers to identify plausible candidate genes in QTL regions efficiently in order to validate their genetic variations experimentally as causative for a phenotype of interest. BSA4Yeast is freely available at https://bsa4yeast.lcsb.uni.lu. [less ▲]

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See detailCoercion-Resistant Voting in Linear Time via Fully Homomorphic Encryption: Towards a Quantum-Safe Scheme
Roenne, Peter UL; Atashpendar, Arash UL; Kristian, Gjøsteen et al

in Financial Cryptography and Data Security 2019. FC 2019: International Workshops, CIW, VOTING, and WTSC (in press)

We present an approach for performing the tallying work in the coercion-resistant JCJ voting protocol, introduced by Juels, Catalano, and Jakobsson, in linear time using fully homomorphic encryption (FHE ... [more ▼]

We present an approach for performing the tallying work in the coercion-resistant JCJ voting protocol, introduced by Juels, Catalano, and Jakobsson, in linear time using fully homomorphic encryption (FHE). The suggested enhancement also paves the path towards making JCJ quantum-resistant, while leaving the underlying structure of JCJ intact. The pairwise comparison-based approach of JCJ using plaintext equivalence tests leads to a quadratic blow-up in the number of votes, which makes the tallying process rather impractical in realistic settings with a large number of voters. We show how the removal of invalid votes can be done in linear time via a solution based on recent advances in various FHE primitives such as hashing, zero-knowledge proofs of correct decryption, verifiable shuffles and threshold FHE. We conclude by touching upon some of the advantages and challenges of such an approach, followed by a discussion of further security and post-quantum considerations. [less ▲]

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See detailBlockchain-based Micropayment Systems: Economic Impact
Khan, Nida UL; Ahmad, Tabrez; State, Radu UL

in ACM IDEAS '19 Proceedings of the 23rd International Database Engineering & Applications Symposium (in press)

The inception of blockchain catapulted the development of innovative use cases utilizing the trustless, decentralized environment, empowered by cryptocurrencies. The envisaged benefits of the technology ... [more ▼]

The inception of blockchain catapulted the development of innovative use cases utilizing the trustless, decentralized environment, empowered by cryptocurrencies. The envisaged benefits of the technology includes the divisible nature of a cryptocurrency, that can facilitate payments in fractions of a cent, enabling micropayments through the blockchain. Micropayments are a critical tool to enable financial inclusion and to aid in global poverty alleviation. The paper conducts a study on the economic impact of blockchain-based micropayment systems, emphasizing their significance for socioeconomic benefit and financial inclusion. The paper also highlights the contribution of blockchain-based micropayments to the cybercrime economy, indicating the critical need of economic regulations to curtail the growing threat posed by the digital payment mechanism. [less ▲]

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See detailUsing crowd-sourced data to analyse the ongoing merger of [ɕ] and [ʃ] in Luxembourgish
Gilles, Peter UL

in Proceedings of the 19th International Congress of Phonetic Sciences. Melbourne, Australia (in press)

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See detailLightning Network: A Comparative Review of Transaction Fees and Data Analysis
Khan, Nida UL; State, Radu UL

in Springer International Congress on Blockchain and Applications (in press)

Blockchain is a revolutionary, immutable database disrupting the finance industry with a potential to provide payments in a secure environment, unhindered by intermediaries. However, scalability and ... [more ▼]

Blockchain is a revolutionary, immutable database disrupting the finance industry with a potential to provide payments in a secure environment, unhindered by intermediaries. However, scalability and throughput issues plague the technology and prevent it's mass scale adoption. The paper focusses on Lightning Network, the off-chain, scalable and high throughput payment solution from Bitcoin. A comparison is conducted to highlight the fee incurred for payment transactions through Lightning Network, Raiden, Stellar, Bitcoin and conventional payment systems to assess its viability as a blockchain-based payment sys-tem. The paper also provides an analysis of the data of Lightning Network, to give a global overview of its usage and reachability. [less ▲]

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See detail40. Komplexe Überdachung II: Luxemburg. Die Genese einer neuen Nationalsprache
Gilles, Peter UL

in Herrgen, Joachim; Schmidt, Jürgen-Erich (Eds.) Language and Space - An International Handbook of Linguistic Variation. Vol. 4 Deutsch (in press)

Der Beitrag behandelt die komplexe Sprachensituation Luxemburgs, mit Fokus auf den germanischen Varietäten, i.e. Deutsch und Luxemburgisch, im Hinblick auf Überdachung und ihre sprachgeschichtlichen ... [more ▼]

Der Beitrag behandelt die komplexe Sprachensituation Luxemburgs, mit Fokus auf den germanischen Varietäten, i.e. Deutsch und Luxemburgisch, im Hinblick auf Überdachung und ihre sprachgeschichtlichen Verschiebungen. In dieser varietätenlinguistischen Perspektive liegt der Schwerpunkt auf der äußeren Sprachgeschichte; Aspekte der inneren Sprachgeschichte werden aus Platzgründen lediglich anhand ausgewählter Beispiele thematisiert. [less ▲]

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See detailQuantifying information flow in interactive systems
Mestel, David UL

in 2019 IEEE 32nd Computer Security Foundations Symposium (CSF) (in press)

We consider the problem of quantifying information flow in interactive systems, modelled as finite-state transducers in the style of Goguen and Meseguer. Our main result is that if the system is ... [more ▼]

We consider the problem of quantifying information flow in interactive systems, modelled as finite-state transducers in the style of Goguen and Meseguer. Our main result is that if the system is deterministic then the information flow is either logarithmic or linear, and there is a polynomial-time algorithm to distinguish the two cases and compute the rate of logarithmic flow. To achieve this we first extend the theory of information leakage through channels to the case of interactive systems, and establish a number of results which greatly simplify computation. We then show that for deterministic systems the information flow corresponds to the growth rate of antichains inside a certain regular language, a property called the width of the language. In a companion work we have shown that there is a dichotomy between polynomial and exponential antichain growth, and a polynomial time algorithm to distinguish the two cases and to compute the order of polynomial growth. We observe that these two cases correspond to logarithmic and linear information flow respectively. Finally, we formulate several attractive open problems, covering the cases of probabilistic systems, systems with more than two users and nondeterministic systems where the nondeterminism is assumed to be innocent rather than demonic. [less ▲]

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See detailBorders and Migration
Nienaber, Birte UL

in Wassenberg, Birte; Reitel, Bernard; Thevenet, Anne (Eds.) et al Critical Dictionary on Cross-Border Cooperation in Europe (in press)

Detailed reference viewed: 34 (7 UL)