Squaring the speed of light? Regulating market access in algorithmic finance

Abstract

We examine the sociomaterial regulation of algorithmic trading against the background of the European Union’s directives on Markets in Financial Instruments (MiFID/MiFIR). Tracing the purification and translation of regulatory practices within a French brokerage firm, we examine the impact of electronic trading on the nature of market access. Central to our analysis is the ‘Blackbox’, a tool designed to manage market access efficiently by collating trade flows and automatically pairing them with trading algorithms. Our findings show that, through a process of ‘abstracting’, purification and translation are kept strictly separate, allowing the broker to meet the regulatory requirements de jure whilst retaining de facto the unregulated advantages of high-speed materiality. We discuss the implications for both the policy and practice of high-speed financial trading.     

Predictors of adult attitudes toward corporal punishment of children

This study identifies predictors of favorable attitudes toward spanking. Analyses were performed with survey data collected from a representative sample of 1,000 adults from Quebec, Canada. According to this survey, a majority of respondents endorsed spanking, despite their recognition of potential harm associated with corporal punishment (CP) of children. The prediction model of attitudes toward spanking included demographics, experiencing or witnessing various forms of family violence and abuse in childhood, and perceived frequency of physical injuries resulting from CP. Spanking was the most reported childhood experience (66.4%), and most violence and abuse predictors were significantly and positively correlated. Older respondents who were spanked in childhood and who believed that spanking never or seldom results in physical injuries were the most in favor of spanking. On the other hand, respondents who reported more severe physical violence or psychological abuse in childhood were less in favor of spanking. Findings are discussed in terms of prevention of CP and family coercion cycle.     

Characteristics Differentiating Neglected Children from Other Reported Children

The aims of this study were twofold: first, to identify the characteristics that distinguish neglected children from other children reported to youth protection services; and second, to assess the relative importance of each of these characteristics in the differentiation of such children. Researchers analyzed data from the Quebec Incidence Study (QIS), which documented all reports retained for in-depth assessment out of 4,774 reports filed with youth protection services over a 3-month period. Univariate and multivariate regression analyses examined variables on different levels to establish which of the factors linked to the phenomenon of neglect were most significant. Results indicate that neglected children tend to be younger than other reported children, and have a greater frequency of prior referrals and a greater number of learning and development problems; their parents have a greater tendency to have personal, economic, and social problems and childhood histories of maltreatment.

Working in High School and Adaptation in the Transition to Young Adulthood among African American Youth

Researchers have found mixed support for documenting whether work is protective or harmful during adolescence. This study examined the association between work and problem behaviors among African American youth (N = 592; 53% female; M = 14.8 years, SD = .60) followed from mid-adolescence to young adulthood over eight Waves (90% response rate over the first four Waves and a 68% response rate across all eight Waves). We explored three competing operationalizations of work: work history (never worked, worked), work intensity (no work, 20 h or less, and 21 h or over), and work trajectories (never worked, episodic work, stopped working, late starter, and consistent worker). Non-working youth reported higher marijuana use during young adulthood than their working counterparts. Nonworkers reported lower self-acceptance during young adulthood than those working greater number of hours per week. Differences in work trajectories for cigarette use, depression, and anxiety during adolescence imply that when and for how long youth work are also important factors to explore. Our findings lend tentative support to the work benefits perspective and suggest that the association between work and problem behaviors may depend on the work measure used. We discuss the implications of employing different work measures in adolescent research.

The role of mobile computed tomography in mass fatality incidents

Mobile multi-detector computed tomography (MDCT) scanners are potentially available to temporary mortuaries and can be operational within 20 min of arrival. We describe, to our knowledge, the first use of mobile MDCT for a mass fatality incident. A mobile MDCT scanner attended the disaster mortuary after a five vehicle road traffic incident. Five out of six bodies were successfully imaged by MDCT in c. 15 min per body. Subsequent full radiological analysis took c. 1 h per case. The results were compared to the autopsy examinations. We discuss the advantages and disadvantages of imaging with mobile MDCT in relation to mass fatality work, illustrating the body pathway process, and its role in the identification of the pathology, personal effects, and health and safety hazards. We propose that the adoption of a single modality of mobile MDCT could replace the current use of multiple radiological sources within a mass fatality mortuary.     

Detection of Tooth‐Colored Restorative Materials for Forensic Purposes Based on Their Optical Properties: An In Vitro Comparative Study

Victim identification using dental records involves antemortem and postmortem comparison of dental charts. Since dental restorations may be part of such records, identifying them accurately is critical. The objective of this study was to compare the diagnostic reliability and validity of two optical methods for identifying tooth‐colored restorations (digital imaging fiber optic transillumination (DiFOTI) using near infrared light, and fluorescence‐aided identification of restorations (FAIR)) with conventional diagnostic methods. Four examiners identified and charted tooth‐colored restorations in three sets of typodonts on the bench using conventional visual and tactile examination, DiFOTI (DIAGNOcam?) and FAIR. All examinations were repeated after 4 weeks. Both the sensitivity (95%) and specificity (97%) of the FAIR method were significantly higher than those for DiFOTI (82% and 82%) and for conventional inspection (71% and 82%). In conclusion, FAIR method performed better than conventional examination and DiFOTI, and was more reliable for identifying tooth‐colored restorations.     

Dysfunctional Parenting and Intimate Partner Violence Perpetration and Victimization among College Women: the Mediating Role of Schemas

Early Maladaptive Schemas (EMS) are negative cognitions about self and relationships that develop early in life, distort our perceptions of life experiences and are sustained via confirmatory information processing (Young et al. 2003). Although empirical evidence supports the relationship between EMS and psychopathology, there is a relative paucity of research regarding the relationship between EMS and intimate partner violence (IPV). The goal of the present study was to elucidate the complex relations between recollections of dysfunctional parenting, EMS, and IPV victimization and perpetration in adulthood. A sample of 305 women college students completed measures of perceptions of parental bonding, EMS, and relationship conflict behaviors. Results revealed that the EMS of subjugation and self-sacrifice accounted for 13.9% of the variance in IPV victimization; however, the EMS of subjugation was the only significant predictor of IPV victimization and mediated the relationship between recollections of dysfunctional parenting and IPV victimization. Additionally, although the EMS of entitlement, insufficient self-control, mistrust/abuse, abandonment, and social isolation accounted for 11.3% of the variance in IPV perpetration, only the EMS of insufficient self-control and mistrust/abuse were significant predictors of IPV perpetration and mediated the relationship between recollections of dysfunctional parenting and IPV perpetration. Results suggest that these cognitive schemas may be the mechanism through which dysfunctional parenting renders one vulnerable to violence in relationships.     

Strict Liability’s Criminogenic Effect

It is easy to understand the apparent appeal of strict liability to policymakers and legal reformers seeking to reduce crime: if the criminal law can do away with its traditional culpability requirement, it can increase the likelihood of conviction and punishment of those who engage in prohibited conduct or bring about prohibited harm or evil. And such an increase in punishment rate can enhance the crime-control effectiveness of a system built upon general deterrence or incapacitation of the dangerous. Similar arguments support the use of criminal liability for regulatory offenses. Greater punishment rates suggest greater compliance. But this analysis fails to appreciate the crime-control costs of strict liability. By explicitly providing for punishment in the absence of moral blameworthiness, the law undermines its moral credibility with the community and thereby provokes subversion and resistance instead of the cooperation and acquiescence it needs for effective crime control. More importantly, the system’s lost moral credibility undermines the law’s ability to harness the powerful forces of stigmatization, social influence, and internalized norms. Given the serious limitations inherent in the real-world application of general deterrence and preventive detention programs, the most effective crime-control strategy is to build the criminal law’s reputation for being just, which means avoiding the use of strict liability.     

The Impact of Psychosocial and Contextual Factors on Individuals Who Sustain Whiplash-Associated Disorders in Motor Vehicle Collisions

Motor vehicle collisions (MVCs) are very common, and they often result in neck and shoulder injuries that are referred to as whiplash-associated disorders (WAD). The largest percentage of WAD are relatively minor and do not reveal any evidence of objective, structural pathology. However, for a substantial percentage of individuals, WAD evolves into chronic, disabling conditions characterized by pain and other symptoms. A range of pre-morbid, collision-related, biomechanical, and psychosocial responses to the MVC have been investigated to determine the manner in which these responses serve to exacerbate and maintain WAD symptoms. In this article, we review the literature investigating these potential causal, amplifying, and perpetuating factors from a biopsychosocial perspective. We emphasize the range of psychological factors and the post-MVC legal and compensation factors that have been identified as significant contributors to the persistence of symptoms and ensuing disability. We highlight the ways in which psychological and legal factors need to be integrated with biological factors to better understand and prevent WAD and treat individuals who experience WAD to reduce chronicity and disability.