Generic Allocation Research Articles

Diversified Reward-Risk Parity in Portfolio Construction

Abstract We introduce diversified risk parity embedded with various reward-risk measures and more generic allocation rules for portfolio construction. We empirically test the proposed reward-risk parity strategies and compare their performance with an equally-weighted risk portfolio in various asset universes. The reward-risk parity strategies we tested exhibit consistent outperformance evidenced by higher average returns, Sharpe ratios, and Calmar ratios. The alternative allocations also reflect less downside risks in Value-at-Risk, conditional Value-at-Risk, and maximum drawdown. In addition to the enhanced performance and reward-risk profile, transaction costs can be reduced by lowering turnover rates. The diversified reward-risk parity allocations gain superior performance in the Carhart four-factor analysis.

A new species of the tridentine Rhinotridens from the Amazon basin (Siluriformes: Trichomycteridae)

Abstract A new species of the recently discovered miniature tridentine catfish, Rhinotridens, is described from the Amazon basin in Brazil, Colombia, and Peru. It differs from Rhinotridens chromocaudatus, type-species of the genus, in having the caudal fin mostly hyaline, a rictal barbel vestigial or externally absent, a longer anal fin with 22–29 segmented rays, and numerous other features from the skeleton. An osteological account of the new species is provided based on cleared and stained specimens, and traits of its external morphology are revealed through scanning electron microscopy (SEM), which for the first time reveal details of the lip structure of tridentines. The seven morphological characters previously listed as synapomorphies for Rhinotridens are confirmed in the species described herein, corroborating its generic allocation. An additional characteristic from the morphology of the lateral process of the autopalatine is proposed as a novel synapomorphy for the genus.

A third species of glassfrog in the genus Chimerella (Anura, Centrolenidae) from central Peru, discovered by an integrative taxonomic approach

We studied the taxonomic status of glassfrogs collected in Departamento Huánuco, central Peru, which in the field were tentatively allocated to Chimerella, one of the twelve genera currently recognized in the family Centrolenidae. Detailed analyses of their morphology, bioacoustics, and molecular genetics supported their generic allocation and provided evidence for them representing a divergent and unnamed evolutionary lineage within Chimerella. We herein describe this lineage as a new species, being mainly distinguished from the two other known congeners, C. corleone and C. mariaelenae, by details of colouration in life and preservative, substantial differences in advertisement call, and differentiation in mitochondrial markers (12S rRNA, 16S rRNA, cytochrome b) and a nuclear-encoded marker (Rag-1). The new species is the southernmost distributed species in the genus and was found in a swampy habitat at the bank of the Río Patay Rondos, a tributary of the Río Monzon, in rainforest at the Andean-Amazon foothills at 798 m above sea level. Aspects of species delimitation within Chimerella and related future research are briefly addressed and discussed.

Evidence of late root formation of molars in Anderson’s red-backed vole, Eothenomys andersoni (Thomas, 1905) (Cricetidae, Rodentia), and arguments for its generic allocation

We evaluated the molars in Anderson's red-backed vole (n = 114) from the Kii Peninsula of Honshu, Japan. Two of the specimens are considered extremely old aged based on their dimensions and on the loss of alveolar capsules of M2, and a third one is also old based on its strongly worn left M3 and M1. Of the former two individuals, one showed an incipient closure of re-entrant angles at its basal end, as estimated from the difference between the occlusal patterns of the occlusal and basal surfaces of the left M2. The latter individual also showed a complete closure of the basal end in the left M3. These patterns differ from incipient roots observed in other vole taxa but were similar to a previous example of incipient roots in Anderson's red-backed vole. Therefore, we suggest that molar roots in this species form at an extremely late age or by strong wear. Root formation in molars is considered an important diagnostic character, as Eothenomys molars lack roots, while Craseomys molars develop roots at a late age. However, this dental character may be particularly difficult to assess in voles under natural conditions. Considering previous phylogenetic findings based on molecular analyses, Craseomys is the most appropriate genus for Anderson's and other Asiatic red-backed voles.

Rhaucoides Roewer, 1912, an Andean genus with fused tarsomeres: revision with a new generic synonymy and two new species (Opiliones: Cosmetidae: Metergininae)

Rhaucoides Roewer, 1912 is herein revisited and re-diagnosed based on somatic and genital morphology, including the differences of both expanded and unexpanded glans complex shown for the first time in Cosmetidae. The genus is characterized mainly by abdominal ornamentation, coloration and by having the two basalmost tarsomeres of leg I fused. The genus Cumbalia Roewer, 1963 is newly considered a junior synonym of Rhaucoides. The species Cumbalia octomaculata Roewer, 1963, Rhaucoides festae Roewer 1925 and Rhaucoides sulfureus Mello-Leitão 1939 are considered junior subjective synonyms of Rhaucoides riveti Roewer, 1919. Erginus devillei Simon 1879 (currently in Metarhaucus) is transferred to Rhaucoides, resulting in Rhaucoides devillei (Simon 1879), comb. nov. Rhaucoides atahualpa sp. nov. and Rhaucoides nasa sp. nov. are described from Ecuador and Colombia, respectively. Comments about the genital and tarsal morphology in Cosmetidae are provided. A map with the known distribution of the genus, in the Andes of southern Colombia and northern Ecuador, is given. Finally, emended diagnoses are provided for the genera Rhauculus Roewer, 1927 and Reimoserius Roewer 1947. After the type species of Metarhaucus Pickard-Cambridge, 1905 was transferred to Rhaucus Simon, 1879, a few species remained without formal generic allocation. All of those are herein combined either with Rhaucoides (1 species), Rhauculus (5 species) or Reimoserius (1 species).

A Critique on Task Allocation Processes in Distributed Agile Software Development

Distributed agile software development is implemented to tackle the increasing competition and changing requirements of the software industry. It inspires the development of emergent software applications and supports user satisfaction with fast delivery to market at low cost. Distributed software development presents a complex distributed team structure of the software industry having various workplaces. Distributed agile software development requires effective and well-organized decisions during task allocation. Task allocation is a challenging activity across the spectrum of committed software developers in a distributed environment. Effective task allocation under the pressure of achieving project objectives is a complex management problem in distributed agile software development. Task allocation process is proposed to support effective task allocation in distributed agile software development. Firstly, we identify different aspects of the task allocation context to explore the basic requirements of decision-making in DASD. Based on the information related to the identified aspects, different types of process activities are defined; those should be fulfilled to support the task allocation decisions. Task allocation process during software project planning requires comprehensive information about various factors that influence decision-making. The proposed task allocation process is evaluated based on the process activities. None of the current state-of-the-art research works focus on an approach for task allocation that completely fulfills all activities related to high-level processes or low-level processes. We fill this gap by identifying, classifying, sequencing, and proposing these activities that can be used to realize a methodical approach for a generic task allocation process in a distributed agile software development setup.

A Bayesian Allocation Model Based Approach to Mixed Membership Stochastic Blockmodels

ABSTRACT Although detecting communities in networks has attracted considerable recent attention, estimating the number of communities is still an open problem. In this paper, we propose a model, which replicates the generative process of the mixed-membership stochastic block model (MMSB) within the generic allocation framework of Bayesian allocation model (BAM) and BAM-MMSB. In contrast to traditional blockmodels, BAM-MMSB considers the observations as Poisson counts generated by a base Poisson process and marks according to the generative process of MMSB. Moreover, the optimal number of communities for BAM-MMSB is estimated by computing the variational approximations of the marginal likelihood for each model order. Experiments on synthetic and real data sets show that the proposed approach promises a generalized model selection solution that can choose not only the model size but also the most appropriate decomposition.

New small-sized species of Astyanax (Characiformes: Characidae) from the upper rio Paraguai basin, Brazil, with discussion on its generic allocation

Abstract A new species of Astyanax is described from the rio Salobra, tributary of rio Cuiabá, rio Paraguai basin. The new taxon can be distinguished from its congeners by having a well-defined dark midlateral stripe on body extending from the posterior margin of the opercle to the base of middle caudal-fin rays and a single vertical elongate humeral blotch. Although the new species is described in Astyanax, some specimens present an incomplete or a discontinuous series of perforated scales in the lateral line. Therefore, a discussion on its generic allocation is presented. Comments on different patterns of coloration among dark-striped species of Astyanax are also provided. The discovery of a new species in an underwater tourist point relatively near a large urban center underscores that even fish species daily observed by hundreds of people in limpid waters may lack a formal taxonomic identity. Such finding also highlights how the megadiverse Brazilian freshwater ichthyofauna still needs efforts and investments to identify and describe new taxa.

Generics and Biosimilars: Barriers and Opportunities

Generics and Biosimilars: Barriers and Opportunities

Osteology of the enigmatic threadsnake speciesEpictia unicolorandTrilepida guayaquilensis(Serpentes, Leptotyphlopidae) with generic insights

Since the rearrangement of all leptotyphlopid species previously known as "Leptotyphlops" in Adalsteinsson et al. (2009)'s paper, several taxa have remained untested regarding their generic identity and have been assigned to different genera based on phenotypic data or, in some cases, without any clear justification. Most of the difficulties in assigning some leptotyphlopid taxa are due to their conserved external morphology, summed with a relatively small number of available specimens, which complicate the recognition of a unique combination of characters for their reasonable generic allocation. On the other hand, recent osteological studies-especially those on the skull-provide relevant data combinations for species assignment and even for the recognition of new genera. In this work, we have attempted to determine the generic allocation of Epictia unicolor and Trilepida guayaquilensis-both species currently known only by their holotype-based on a detailed description of cranial and post-cranial osteology. We confirm the assignment of E. unicolor to the genus Epictia despite the divergent configuration of cephalic shields. Based mainly on data from the skull, suspensorium, and cervical vertebrae but supported by external morphology as well as a redescription of the holotype, we propose the assignment of Trilepida guayaquilensis to the genus Epictia. This study provides not only detailed data on the osteology of Epictia, but also a first approach to the putative combination of osteological characters for the genus.

The identity of emIndosylvirana nicobariensis/em (Stoliczka 1870) (Amphibia, Ranidae) from northeast India.

Stoliczka (1870) described Hylorana nicobariensis from the Nicobar Islands of India. The generic allocation of this enigmatic species is yet to be fully resolved (Chan et al. 2020b) and it has been placed in different genera (Boulenger 1885; Frost et al. 2006; Che et al. 2007; Oliver et al. 2015; Chan et al. 2020a; Chandramouli et al. 2020). As of now, the species is assigned to the genus Indosylvirana (Oliver et al. 2015; Chan et al. 2020b; Frost 2020). Apart from Nicobar archipelago, this species is distributed in the insular regions of southeast Asia (Oliver et al. 2015; Chandramouli et al. 2020; Frost 2020) and the states of Arunachal Pradesh, Assam, Mizoram, Tripura and West Bengal in northeast India (Sarkar et al. 1992, 2002; Sarkar Ray 2006; Ahmed et al. 2009; Mathew Sen 2010; Lalremsanga 2011; Lalremsanga et al. 2015, 2016). However, Frost (2020) doubted the records of this species in northeast India. Systematic studies on the herpetofauna of northeast India based on molecular evidence are scanty (Lalronunga et al. 2020a), and species recorded from the area need confirmation (Frost 2020). Recent studies revealed that many species previously recorded from northeast India were based on misidentifications (Das et al. 2019; Giri et al. 2019; Lalronunga et al. 2020b), therefore, a review and revalidation on the herpetofaunal list of the area is warranted. Herein, we examined the identity of the species recorded as I. nicobariensis from northeast India using morphological data and a fragment of 16S rRNA mitochondrial gene.

Cryptic speciation in the “Marshallora nigrocincta” species complex (Gastropoda, Triphoridae) from the Western Atlantic

Marine gastropods of the “Marshallora nigrocincta” species complex range from southeastern Canada to southern Brazil, comprising M. nigrocincta, described from the northeastern United States, and Marshallora modesta, from the Caribbean. This study aims to disentangle this complex, elucidating how many species are indeed present in the western Atlantic, and whether M. nigrocincta is different from M. modesta. The mitochondrial markers COI and 16S were congruent in splitting the complex into six lineages: one belonging to M. nigrocincta (mainly from eastern United States), other two lineages related to M. cf. modesta (one from Florida, USA, and the second from Colombia), and three undescribed species from Brazil. Intra- and interspecific genetic distances, respectively, vary from 0–2.7%/6.3–13.5% (COI). The nuclear gene 28S was conservative to separate Marshallora sp. A (Brazil) from M. cf. modesta 2, but recognized M. cf. modesta 1, M. nigrocincta, and Marshallora sp. B (Brazil). The shell morphology is highly variable, but the presence of three basal cords seems to occur only in M. nigrocincta. The radular morphology exhibits a wide variation in the number of cusps of the central and lateral teeth. The new species herein identified will require formal descriptions following further fieldwork efforts, since the selected voucher material was lost during a fire. New generic allocations are made to Marshallora amicorum comb. nov., Marshallora pusilla comb. nov., and Marshallora medinae comb. nov., which is regarded as nomen dubium. This study may stimulate the incorporation of DNA analysis in the systematics of Triphoroidea, improving the knowledge about its biodiversity.

Crossing barriers of zoogeographical regions: Molecular evidence of vicariance of the only cestode parasite of loaches (Cobitidae) in the Indomalayan region, Paracaryophyllaeus lepidocephali (Cestoda: Caryophyllidea), and its redescription.

Tapeworms of the genus Paracaryophyllaeus Kulakovskaya, 1961 (Cestoda: Caryophyllidea) are specific parasites of loaches (Cypriniformes: Cobitoidea) and occur almost exclusively in the Palaearctic region. The only exception and example of vicariance over the borders of two zoogeographical regions is Paracaryophyllaeus lepidocephali (Kundu, 1985), an insufficiently known species described from the Indomalayan region, with uncertain generic allocation. In the present paper, the species is redescribed based on new material collected from the type host, Lepidocephalichthys guntea, in West Bengal, India. Molecular data reveal this species as a member of Paracaryophyllaeus, within which it is the most closely related to P. cf. gotoi from Misgurnus anguillicaudatus in China and Japan on the basis of large subunit of ribosomal nuclear DNA (28S rDNA). Generic position of P. lepidocephali examined herein is also confirmed by morphology including cross sections, in particular, by a small, cylindrical body, medullary testes with testicular fields crossing the anterior margin of the cirrus sac, medullary vitelline follicles, with some follicles paramuscular, a shallow common genital atrium, short vagina and uterus not extending anteriorly beyond the cirrus sac. It differs from all Palaearctic congeners but Paracaryophyllaeus vladkae Scholz, Oros and Aydogdu, 2014 by the testicular field crossing the anterior margin of the cirrus sac. It differs from P. vladkae by more anterior position of the first vitelline follicles compared to the first testes. This species is a unique example of a fish tapeworm crossing the borders of the Palaearctic and Indomalayan zoogeographical regions.

The morphology of the eggs in the Hermanella complex (Ephemeroptera: Leptophlebiidae)

ABSTRACT The Hermanella complex is a well-established monophyletic group of Hagenulinae mayflies, but the phylogenetic relationships among its members are still being discussed. In order to fill some gaps in the taxonomy of this group we describe, for the first time, the eggs of eight species of this complex (Hermanella amere, Hermanella mazama, Hydromastodon sallesi, Hydrosmilodon gilliesae, Hydrosmilodon plagatus, Leentvaaria palpalis, Paramaka incognita, Paramaka sp.) using scanning electron microscopy, including some important members whose generic allocation have been questioned. The egg morphology in these eight species of Hermanella complex and their similarities with other species of the complex are discussed.

Revisiting the generic position and acoustic diagnosis of Odontophrynus salvatori (Anura: Odontophrynidae)

Herein we evaluate the phylogenetic position, and revisit the generic allocation of Odontophrynus salvatori, which has for long been considered controversial because it exhibits intermediate morphological features between Odontophrynus and Proceratophrys. By assessing a fragment of the 16S mitochondrial gene from topotypical specimens, we confirm that O. salvatori is a member of the genus Proceratophrys and sister to P. moratoi, also forming a clade with P. concavitympanum and P. ararype. Therefore, we formally transfer O. salvatori to the genus Proceratophrys [Proceratophrys salvatori (Caramaschi 1996) comb. nov.]. Additionally, the calls of Proceratophrys salvatori and P. moratoi, formally compared for the first time, are shown to exhibit similar structures: they both emit single multi-pulsed notes that differ mainly in pulse repetition rate and dominant frequency. Finally, we summarise occurrence records for P. salvatori and P. moratoi and provide a new record of P. moratoi in Mato Grosso State, extending its distribution about 490 km to the north-west.

Unraveling one of the ‘Big Five’: update of the taxonomy of Triphoridae (Gastropoda, Triphoroidea) from Brazil

The present study aims to fulfill the gap of taxonomic knowledge on Triphoridae from Brazil. We describe five new species (Isotriphora uncia sp. nov., Isotriphora leo sp. nov., Monophorus verecundus sp. nov., Sagenotriphora albocaput sp. nov., Similiphora lucida sp. nov.), report five species previously known only from the Caribbean and related areas (Cheirodonta dupliniana (Olsson, 1916), Eutriphora auffenbergi Rolán & Lee, 2008, Isotriphora tricingulata Rolán & Fernández-Garcés, 2015, Marshallora ostenta Rolán & Fernández-Garcés, 2008, Monophorus caracca (Dall, 1927) comb. nov.) and describe six morphotypes at the generic level (Isotriphora sp. 1, Marshallora sp. 1, Nanaphora sp. 1, Sagenotriphora sp. 1, Sagenotriphora sp. 2, Similiphora sp. 1). Remarks are made to some species previously recorded from Brazil, including the invalidation of records, problems of generic allocation and geographical range extensions. Maps of the geographical distribution are provided for the 65 currently recognized species of Triphoridae from Brazil. Of these, 31 species are endemic to Brazil and 58 inhabit the continental shelf vs only seven from the continental slope. A distinct geographical zone occurs in southeastern Brazil. A few species occur exclusively near the mouth of the Amazon River, whereas others inhabit a local biogenic reef, possibly serving as a biogeographical corridor that connects western Atlantic populations. Species of Isotriphora from Brazil are particularly common around oceanic islands, probably due to adopting intracapsular metamorphosis, which may have evolved in more than one evolutionary event.

First record of Leiostracus demerarensis (L. Pfeiffer, 1861) from Brazil (Gastropoda, Orthalicoidea), with a taxonomic reassessment

We report the first Brazilian record of Leiostracus demerarensis (L. Pfeiffer, 1861) from Pará and Maranhão states. The distribution of this species now comprises Guyana, Suriname, French Guiana, and northern Brazil. Furthermore, given the uncertainty in generic and familial allocation of this species (either Bostryx Troschel, 1847, Bulimulidae, or Leiostracus Albers, 1850, Simpulopsidae), we used the barcoding segment of the COI gene to ascertain its classification in Simpulopsidae, retaining it as Leiostracus demerarensis. Moreover, Simpulopsis luteolus (Ancey, 1901) is also reported for the first time from Pará state.

Revisited - the species of Tweeting vineyard snails, genus Cantareus Risso, 1826 (Stylommatophora, Helicidae, Helicinae, Otalini).

The generic allocation of Helix subaperta is clarified by using genetic data and morphological traits of the genital organs; its position within the hitherto monotypic genus Cantareus is corroborated. Further analysis of several specimens of Cantareus apertus from Algeria and Italy revealed that this taxon is composed of two species, C. apertus from Italy, and C. koraegaelius from Algeria. The morphological traits of the genital organs of all three species are discussed, and the definition of the genus Cantareus is amended. All three species confined to Cantareus are re-described, and the syntype specimen of H. aperta is illustrated.

Basic anatomy of species of Triphoridae (Gastropoda, Triphoroidea) from Brazil

The alpha-taxonomy of triphorids is still largely based on the study of the shell, and the scarcity of studies dealing with their anatomy is a result of the difficulty of sampling live animals and their very small size. Whereas radula and operculum are important structures in the taxonomy at the generic level, the jaw of triphorids has never been properly studied, being regarded as presenting a morphological homogeneity. The present research explored the basic anatomy (especially internal hard structures: operculum, jaw and radula) of 12 species from Brazil, distributed in 11 genera: Cheirodonta Marshall, 1983 (with a new generic allocation, Cheirodonta dupliniana (Olsson, 1916) comb. nov.), Cosmotriphora Olsson & Harbison, 1953, Iniforis Jousseaume, 1884, Latitriphora Marshall, 1983, Metaxia Monterosato, 1884, Monophorus Grillo, 1877, Nanaphora Laseron, 1958, Nototriphora Marshall, 1983, Sagenotriphora Marshall, 1983, Similiphora Bouchet, 1985 and Strobiligera Dall, 1924; in addition, the basic anatomy of the Caribbean species “Inella” harryleei Rolán & Fernández-Garcés, 2008 was analysed. Radular examination showed that the majority of species studied is properly allocated in their genera after comparisons in the literature with respective type species, albeit a few species are clearly in need of a new generic allocation. The jaw of triphorids is remarkably heterogeneous, displaying different patterns of scales and micro-pores between outer and inner sides.

On going the market one better: economic market design and the contradictions of building markets for public purposes

Before the 1970s, no economists claimed an ability to fix markets; now economists make markets in a smorgasbord of shapes and flavours. Secondary commentary on market design fails to appreciate how momentous this change was. We summarize the development of market design through its first attempted application—auctions for airport slots. Economists reconceptualized markets from generic allocation processes to boutique information processors. The new view entailed that economists would skew markets towards the outcomes favoured for a client. Yet they continued appealing to a unified theory of markets and the associated remit to act as neutral arbiters for everyone’s welfare. Inbuilt political bias contradicts the older claims of economists to stand outside the economic process. This contradictory stance has direct implications for the ‘performativity’ literature.