Your search

It is known that the probability is not a conserved quantity in the stock market, given the fact that it corresponds to an open system. In this paper we analyze the flow of probability in this system by expressing the ideal Black-Scholes equation in the Hamiltonian form. We then analyze how the non-conservation of probability affects the stability of the prices of the Stocks. Finally, we find the conditions under which the probability might be conserved in the market, challenging in this way the non-Hermitian nature of the Black-Scholes Hamiltonian.

In February 2020, Macau became one of the first regions where the pandemic of coronavirus or Covid-19 affected the totality of social and economic life leading to increased anxieties over movement and distance. Although Macau has had very few actual cases of the virus – 46 in total –and no deaths from it, the Macau government rapidly instituted a lock­ down. The aim of this article is to reflect on how the social experience of being in lockdown can provide insights into understanding the type of experience or condition that we provisionally term ‘anxious immobility.’ Such a condition is characterized by a total disruption of everyday rhythms and specifically anxious waiting for the normalization of activity while being the subject of biosocial narratives of quarantine and socially responsible. The paper is based upon 3 months of ethnographic research conducted by two researchers based in Macau. We also reflect upon some aspects of the politics of mobilities in the light of disruptions and friction points between Hong Kong, Macau, mainland China, and the rest of the world.

Statistical methods such as multiple linear regression (MLR) and classification and regression tree (CART) analysis were used to build prediction models for the levels of pollutant concentrations in Macao using meteorological and air quality historical data to three periods: (i) from 2013 to 2016, (ii) from 2015 to 2018, and (iii) from 2013 to 2018. The variables retained by the models were identical for nitrogen dioxide (NO2), particulate matter (PM10), PM2.5, but not for ozone (O3) Air pollution data from 2019 was used for validation purposes. The model for the 2013 to 2018 period was the one that performed best in prediction of the next-day concentrations levels in 2019, with high coefficient of determination (R2), between predicted and observed daily average concentrations (between 0.78 and 0.89 for all pollutants), and low root mean square error (RMSE), mean absolute error (MAE), and biases (BIAS). To understand if the prediction model was robust to extreme variations in pollutants concentration, a test was performed under the circumstances of a high pollution episode for PM2.5 and O3 during 2019, and the low pollution episode during the period of implementation of the preventive measures for COVID-19 pandemic. Regarding the high pollution episode, the period of the Chinese National Holiday of 2019 was selected, in which high concentration levels were identified for PM2.5 and O3, with peaks of daily concentration exceeding 55 μg/m3 and 400 μg/m3, respectively. The 2013 to 2018 model successfully predicted this high pollution episode with high coefficients of determination (of 0.92 for PM2.5 and 0.82 for O3). The low pollution episode for PM2.5 and O3 was identified during the 2020 COVID-19 pandemic period, with a low record of daily concentration for PM2.5 levels at 2 μg/m3 and O3 levels at 50 μg/m3, respectively. The 2013 to 2018 model successfully predicted the low pollution episode for PM2.5 and O3 with a high coefficient of determination (0.86 and 0.84, respectively). Overall, the results demonstrate that the statistical forecast model is robust and able to correctly reproduce extreme air pollution events of both high and low concentration levels.

The purpose of this paper examines the potential role of Chinese outbound tourism as a catalyst of change for the Macanese identity. There is an emerging trend to have a new identity amongst Macanese residents to valorize cultural and heritage assets. By using Bourdieu’s concept of habitus, it proposes that the social media space is built to voice concerns of language, place attachment and induced public participation. The study utilizes a mixed method approach comprising a survey for netizens and content analysis of online discussions, in order to fully understand changes due to Chinese outbound tourism.

Hyper-consumption in capitalist economies has had a severe impact on the environment that no one can escape. In recent year, there has been a high degree of optimism in sharing economy with regard to coping with the environmental problems caused by consumption. However, most of the current literature focuses on business perspectives in which a sharing economy is portrayed as a new business model, but not as a way to curb environmental degradation. This paper, based on a social science perspective, investigates the potentials and limitations of the strategies adopted in sharing economy projects towards social transformation (especially coping with environmental degradation and hyper-consumption), with the adoption of Erik Olin Wright’s concept of real utopia. A case study approach has been adopted in terms of a sharing economy project named ‘Waste-no-mall (Yuen Long)’ in Hong Kong. The project founder embraces ideological-led strategies based on collective responsibility, self-determination and reflexivity, encouraging the participants to reflect on their consumption behaviours, and thus increasing the level of awareness of the need to reduce unnecessary consumption. However, it is a double-edge sword that limits its impact to those who are active participants, without spreading to others the need for change. It is also limited for their interstitial strategies within the project, and is unable to call for a concrete symbiotic transformation when it comes to policy. The significance of this paper is two-fold. First, it adopts a social science perspective that centres on exploring the proclaimed social implications of sharing economy, an aspect which is under-studied given that most of current studies are from a business perspective; second, it extends Wright’s concept to an operational level by showing an important pathway aiming to solve environmental problems through the simultaneous achievement of both horizontal and vertical balancing strategies, based on Wright’s concept of real utopia.

The on-board identification of ore minerals during a cruise is often postponed until long after the cruise is over. During the M127 cruise, 21 cores with deep-seafloor sediments were recovered in the Trans-Atlantic Geotraverse (TAG) field along the Mid Atlantic Ridge (MAR). Sediments were analyzed on-board for physicochemical properties such as lightness (L*), pH and Eh. Selected samples were studied for mineral composition by X-ray powder diffraction (XRD). Based on XRD data, sediment samples were separated into high-, low- and non-carbonated. Removal of carbonates is a common technique in mineralogical studies in which HCl is used as the extraction agent. In the present study, sequential extraction was performed with sodium acetate buffer (pH 5.0) to remove carbonates. The ratio between the highest calcite XRD reflection in the original samples (Iorig) vs its XRD-reflection in samples after their treatment with the buffer (Itreat) was used as a quantitative parameter of calcite removal, as well as to identify minor minerals in carbonated samples (when Iorig/Itreat > 24). It was found that the lightness parameter (L*) showed a positive correlation with calcite XRD reflection in selected TAG samples, and this could be applied to the preliminary on-board determination of extraction steps with acetate buffer (pH 5.0) in carbonated sediment samples. The most abundant minerals detected in carbonated samples were quartz and Al- and Fe-rich clays. Other silicates were also detected (e.g., calcic plagioclase, montmorillonite, nontronite). In non-carbonated samples, Fe oxides and hydroxides (goethite and hematite, respectively) were detected. Pyrite was the dominant hydrothermal mineral and Cu sulfides (chalcopyrite, covellite) and hydrothermal Mn oxides (birnessite and todorokite) were mineral phases identified in few samples, whereas paratacamite was detected in the top 20 cm of the core. The present study demonstrates that portable XRD analysis makes it possible to characterize mineralogy at cored sites, in particular in both low- and high-carbonated samples, before the end of most cruises, thus enabling the quick modification of exploration strategies in light of new information as it becomes available in near-real time.

There can be no conclusive determining regarding true press freedom in Macau, and perhaps this statement can be applied elsewhere as well. Issues of self-censorship, partisanship, or cultural loyalty exist in cities and countries around the world, and most of the time there is simply no reliable measurement to determine their impact. The Special Administrative Region (SAR) of Macau is separate and distinct from mainland China, but that does not mean that it is entirely without question regarding its freedom of the press, ethical journalistic practices, and interference by non-authorized agencies at the three languages local newspapers.

The following study reflects and explores the dynamics of aesthetic experiences within drama improvisations. This arts-based research was carried out in Hong Kong with six Cantonese children who were aged 3?5?years. Data were collected from the video transcripts of five workshops and the researcher?s own research journal. Two significant milieus were observed: switching in-between roles and intuitive creativity is not talkback. I argue that because each of these two milieus provide the foreground for the complex ? and at times contradictory ? nature of children?s aesthetic experiences where Deleuzian power is at play, opportunities arise for both, challenging the traditional adult?child power relations, and in so doing, educators can be able to reconfigure and reconceptualise teaching goals and practices, both generally and specifically, within the context of early childhood education.

This study examined 206 casino dealers in hospitality at Macau to investigate the extent of their subjective career success and work engagement. Casino dealers were work engaged, but their subjective career success was fairly low, with significant difference between them, which indicates they have cognitive dissonance about their jobs. Several personality variables (emotional suppression and work ethic), organizational variables, i.e., organizational socialization (training, understanding, coworker support, future prospects), and distributive justice, were assessed in relation to subjective career success and work engagement. Organizational socialization, work ethic, and distributive justice were positively correlated with and predictors of subjective career success and work engagement; while emotion suppression was negatively correlated with and predictor of work engagement. This study provides evidence of extending the theories of subjective career success and work engagement in Chinese society and hospitality. Also, it identifies factors that could resolve the employees’ cognitive dissonance, and implementations for management were discussed.