Distance, structure and bright stellar content of the dwarf irregular galaxy UGC 685

B,R, and J frames taken with the Calar Alto 3.5m telescope of the dwarf irregular galaxy UGC 685 are presented. The brightest part of the stellar population is resolved in B and R, very few also in J. The stellar color-magnitude diagram is discussed. An estimate of the distance to UGC 685 of 5.5 Mpc is derived based on the brightest blue supergiant stars. Most of the resolved bright stars show colors in the range $-0.1 \le B-R \le +0.7$. The continuum light of the unresolved stars is distributed rather regular in B, R, and J, showing only minor irregularities. This surface brightness distribution follows an exponential law in all three colors with a scale length $r_c = 0.33$ kpc. The central surface brightnesses are $21.57 \pm 0.09 mag/\Box''$, $20.65 \pm 0.06mag/\Box''$, and $20.11 \pm 0.11 mag/\Box''$, in B, R, and J, respectively. The surface brightness can be traced out to 5 $r_c$ in B and R. Thus, UGC 685 belongs to the class of dwarfs where the HI distribution is much more extended (here 2.6 times) than the optical (stellar) light distribution, but contrary to many objects of this type, it does not belong to the class of low-surface brightness objects. The overall colors are $B-R = + 0.97$, $B-J = +1.55$ and the magnitude is B = 14.55 ($M_B^o$ = -14.5). The classification as an irregular dwarf results from the few HII regions of UGC 685. On an H${\alpha}$ Calar Alto 2.2m telescope CCD image, I identified only 5 HII regions. The total H${\alpha}$ flux corresponds to a mildly on-going star formation with a rate of 0.003 \Msolar yr$^{-1}$, a low rate even in comparison to other dwarfs. The available data do not indicate any major deviation from this rather low star formation rate within the last $10^9$ yr.Comment: 10 pages, 6 postscript figures. Astronomy and Astrophysics Supplement accepted Aug. 28, 199

Mechanical device accurately measures rf phase differences in vhf or uhf ranges

Dual range linear measurement device accurately measures RF phase differences in either VHF or UHF ranges. The device has a capability consisting of a course range extending to 30 cm readable to 1 mm and any fine range portion of 2.5 cm readable to .01 mm

J.-B. Say's 1803 Treatise and the Coordination of Economic Activity

Although historians of economic thought emphasize J.-B. Say's contributions to utility theory, the structure of the subject matter of economics, entrepreneur theory and the construction of the "law of markets," they rarely appreciate what Say accomplished in the first edition of the Traité d'Économie Politique. Only in chapters 21 and 22 of his 1803 Treatise, however, does Say sketch business firms as institutions that create and operate markets. In doing so, he essentially provides the basis for a non-walrasian concept of the coordination problem of a decentralized economic system. Thus, concerning Adam Smith's metaphor of the "invisible hand," Say ought to be considered as the first theorist to introduce into economic literature what Robert W. Clower called the "visible fingers" of the "invisible hand." --Invisible Hand,General Equilibrium Theory,Jean-Baptiste Say,Market Maker,Say's Law,Des Débouchés

Do Differences in Institutional and Legal Environments Explain Cross-Country Variations in IPO Underpricing?

We empirically analyze the determinants of Initial Public Offering (IPO) underpricing using panel data for 29 countries over the period 1988-2005. Our hypotheses stress the importance of institutional and legal factors in explaining cross-country variations. We find that increased protection of shareholders and greater accounting transparency contribute negatively to variations in underpricing. When more information is available price discovery is facilitated, allowing for more effective corporate governance. Moreover, when equity markets perform well, investors anticipate companies and investment banks to time the market and require higher underpricing in return. Overall, we conclude that better investor protection and better institutional environments reduce the perceived risk of investing, and attenuate the problem of asymmetric information, thereby causing lower underpricing across countries.IPO underpricing, institutions, legal infrastructure, panel data

Husserl, Dummett, and the linguistic turn

Michael Dummett famously holds that the “philosophy of thought” must proceed via the philosophy of language, since that is the only way to preserve the objectivity of thoughts while avoiding commitments to “mythological,” Platonic entities. Central to Dummett’s case is his thesis that all thought contents are linguistically expressible. In this paper, I will (a) argue that making the linguistic turn is neither necessary nor sufficient to avoid the problems of psychologism, (b) discuss Wayne Martin’s argument that not all thought-contents are linguistically communicable, and (c) present another, stronger argument, derived from Husserl’s early account of fulfillment, that establishes the same conclusion

Nothing Ventured - Nothing Gained? Empirical Evidence on Venture Capital Financing in Switzerland

Venture Capital, Entrepreneurship, Syndication