Phil 9.27.18

7:00 – 6:00 ASRC MKT

  • Writing your own LaTex class
  • Multiple facets of biodiversity drive the diversity–stability relationship
    • A substantial body of evidence has demonstrated that biodiversity stabilizes ecosystem functioning over time in grassland ecosystems. However, the relative importance of different facets of biodiversity underlying the diversity–stability relationship remains unclear. Here we use data from 39 grassland biodiversity experiments and structural equation modelling to investigate the roles of species richness, phylogenetic diversity and both the diversity and community-weighted mean of functional traits representing the ‘fast–slow’ leaf economics spectrum in driving the diversity–stability relationship. We found that high species richness and phylogenetic diversity stabilize biomass production via enhanced asynchrony in the performance of co-occurring species. Contrary to expectations, low phylogenetic diversity enhances ecosystem stability directly, albeit weakly. While the diversity of fast–slow functional traits has a weak effect on ecosystem stability, communities dominated by slow species enhance ecosystem stability by increasing mean biomass production relative to the standard deviation of biomass over time. Our in-depth, integrative assessment of factors influencing the diversity–stability relationship demonstrates a more multicausal relationship than has been previously acknowledged.
  • Computer Algorithms, Market Manipulation and the Institutionalization of High Frequency Trading (adversarial herding?)
    • The article discusses the use of algorithmic models in finance (algo or high frequency trading). Algo trading is widespread but also somewhat controversial in modern financial markets. It is a form of automated trading technology, which critics claim can, among other things, lead to market manipulation. Drawing on three cases, this article shows that manipulation also can happen in the reverse way, meaning that human traders attempt to make algorithms ‘make mistakes’ by ‘misleading’ them. These attempts to manipulate are very simple and immediately transparent to humans. Nevertheless, financial regulators increasingly penalize such attempts to manipulate algos. The article explains this as an institutionalization of algo trading, a trading practice which is vulnerable enough to need regulatory protection.
  • Karin Knorr Cetina is interested in financial markets, knowledge and information, as well as in globalization, theory and culture. Her current projects include a book on global foreign exchange markets and on post-social knowledge societies. She continues to do research on the information architecture of financial markets, on their “global microstructures” (the global social and cultural form these markets take) and on trader markets in contrast to producer markets. She also studies globalization from a microsociological perspective, using an ethnographic approach, and she continues to be interested in “laboratory studies,” the study of science, technology and information at the site of knowledge production – particularly in the life sciences and in particle physics.
  • Reading A Sociology of Algorithms: High-Frequency Trading and the Shaping of Markets
    • Markets are politics,” (pg 8). I’d reverse that and say that politics are a market for power/influence, though that may be too glib.
    • three main types of algorithm discussed here (trading venues’ matching engines, which consummate trades; execution algorithms used by institutional investors to buy or sell large blocks of shares; and HFT algorithms), (pg 11)
    • a “lit” venue is one in which the electronic order book is visible to the humans and algorithms that trade on the venue; in a “dark” venue it is not visible.  (pg 11)
  • Meeting with USPTO folks. I went over their heads, but Aaron found the right level.

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