Friday, June 30, 2017

career development - Do I have the skills for UX?



I will soon be graduating with a BS in computer science with a focus in HCI. My goal is to land a job in the realm of user experience, but I'm not sure where I stand with regards to my experience and skill set.


As I said, I am getting my degree in computer science, so I have a strong foundation in programming. I'm skilled in multiple languages, and have worked on projects for multiple platforms including desktop, mobile, and web.


In addition to programming, I have about eight years of freelance graphic design experience including print and web design. I have held internships in both fields, serving as the sole designer of the website for a local private high school, as well as a software engineer for a large government contractor.


While I have no explicit UX experience, I believe that my extensive background in graphic design has helped me to develop a sense of creating usability, and I have served as the GUI designer on some software projects. I certainly understand that this isn't even half the story of UX, but it's something.


[People keep assuring me] that since I can "speak both languages"...that is, development and graphic design...[I would excel in UX]. I've heard that it can be very difficult to land a position in UX without experience, so I'm getting nervous since graduation is a year out on the horizon. I sincerely think that UX is where I should be headed.



I'm interested to hear the opinions of people who are currently employed in the UX field, and perhaps from people who have experience hiring. Do I have the right skill set for UX, and would I have a snowball's chance in Hell of getting a UX job fresh out of school?




THREE-YEAR UPDATE:


Three years later and I have a couple years of experience as a full-time UX designer! My assumptions were right; I have turned out to be quite a useful asset [to my company...experiences may vary] given my skill set.


My title has been UX Designer for the past year and a half - I actually started in engineering and moved to UX when I realized I wasn't feeling completely fulfilled, and my manager(s) thought the company would be more suited to utilize the full gamut of my skills.


In the meantime, I have already received countless offers for Senior UX design roles. I'm continuing to hone my skills working for a huge enterprise company.


What I've learned:


Everyone wants a job on the West Coast at a sexy tech startup. After having worked on a small design team at a huge B2B enterprise tech company for a while now, I can say that I have learned so much more than I think I possibly could have at a startup or smaller agency. The UI and interaction challenges are innumerable. You learn business practices. The politics of business. You learn how many more fingers are in the honeypot (dev, architecture, QA, sales, marketing) and when it is and isn't appropriate to make design concessions.


But perhaps the biggest reason is a lot of enterprise companies operate on ancient designs made decades ago by developers. No offense towards developers at all -- they did the best they could with the tools at their disposal then, and the product (in-house or consumer-/client-facing) just never got a proper pass. So joining an enterprise level company may give you an opportunity to really make a deep footprint in the business.


Something to consider!




Answer



You'll probably get some excellent posts about resources etc, so I'm going to post as someone who has sat more on the hiring side of the fence for years.


Regarding resume, cover letter, interview, phone screen, etc etc



  • talk UX, not programming. If you send me a resume for a UX job or if we speak on the phone I'll have specific challenges in mind - I need to quickly know you can orient yourself to them and help solve them

  • talk UX and not graphic design. That's great you have designed GUIs before - but I really am not interested. I am interested in how you made your decisions about the workflow, and about the elements to include (and exclude), and what you were thinking when you broke that paradigm there in the top right-corner

  • "I certainly understand that this isn't even half the story of UX, but it's something". Cool, so make something of it. Understand it and what was relevant about the experience to UX. Don't couch it in terms that mitigate it - something was UX related or it wasn't. If it was - own it as such

  • skill sets: It's one of the great things about being in UX design, that the skill sets are so varied. I've worked on teams where six designers had six completely different backgrounds and academic qualifications - the thing they had in common was an understanding of what UX is and isn't. My current teams are basically the same - if you looked at our academics you'd never see the similarity. But if you heard us talking about the new offices our company just built you'd see where we were coming from - how much space is between the wall and the chair, why are the dryers in the men's room located there, how do they bring in visitors from the parking deck, who the HELL put the display screens on that wall.


It's a philosophy as much as anything else - but do make sure to checkout the many questions on this site about resources and get to know them.



Thursday, June 29, 2017

hierarchy - Hierarchical comments usability issues


For blog, what are best practices to implement topic’s hierarchical comments?


How to help users to find yet unread comments when they may appear anywhere in the tree? How to show what parent comment is, when it can not be even visible on the screen in the long discussion trees?


Ideas and live examples (better) are welcome.





yahoo - Daily returns using adjusted close



I want to chart the daily returns of a stock, and I'm using Yahoo finance data to download historic data. I was told to use Adjusted Close, but there seems to be an issue with this.


For ANTO.L, you can see that on 19 Jun 2006 there was a 5:1 split. The adjusted close reflected this, and went from 71.97 to 365.36. This of course skews my daily returns, as it represents a 400%+ return!


Should I be using adjusted close to calculate returns? It makes sense when considering dividends, but whenever there is a stock split there is then a huge skew. Is there something else I'm missing that I need to look into?


EDIT:


I think there's lots of examples of the same bad calculations. SRP.L shows the same for example. Problem is the Close is wrong, and the AdjClose is wrong, so I can't trust anything. Can anyone point me towards a good reliable free (or reasonably priced) provider of historic stock data, so I can use for comparisons?



Answer



Hmm, this table looks wrong. Here's what it should look like. After the most recent corporate action, the Close and Adjusted Close should be the same; only prices from before the most recent action should have a different Adjusted Close. Here's another example. I think Yahoo just has the wrong information.


If you wanted to derive your own adjustments for calculating returns, you'll need to know the date and nature of every corporate action. Then you'll fake the prices of the future rather than the prices of the past. Ie, you'll add back dividends and undo splits going forward. This is the opposite of what Yahoo is doing in their table; the reason for adjusting closes in the future is to prevent negative prices, which can happen if you subtract dividends from the values in the past. Once you have the adjusted prices, you can compute your returns without worry.


print design - printing on plastic - coated versus uncoated


I understand the coated versus uncoated dealing with paper stock, but is there any difference when dealing with plastics?


Do plastics have absorption characteristics that would provide for color differences?


Would specifying a "C" or "U" make any difference?




typography - When is font hinting used for print?


Following on from this question: TTF and other "modern" font systems, and font size differences


Higher quality fonts contain hinting information, which in short better fits glyph boundaries to a raster grid.


It's commonly used on screen where it reduces anti-aliasing.


But is hinting information used at all by any print devices? If so, which kind (desktop laser/inkjet/imagesetters for litho etc) and when does it make a measurable difference?


I'm looking for direct references to it being used by print devices, and failing that, some empirical measurement (eg comparison of hinted font type /unhinted font type text/converted-to-vector type)


(Why don't I do it myself? I'm no longer in the industry so don't have the tools unfortunately).




Answer



Any printer driver worth its bytes pays attention to hinting (otherwise the other drivers would take it out behind the boot sector and beat the c*** out of it). Any RIP does, also. Hinting was originally developed for low-res printers (a 300-600 dpi laser printer is a low-resolution device), but used also for on-screen rendering. I found a good article from TUGboat that covers the subject well and simply.


To illustrate the point, here's a test done today using regular office copy paper on a standard non-Postscript office laser printer, directly from Illustrator. The font is Minion Pro Regular at 12, 9 and 6 point. At each size, the text block was copied and the copy converted to outlines. All six samples were set up on one sheet and scanned at 600 ppi:


12pt text:


12 pt text


12 pt outlined:


12 pt outlined


9 pt text:


9 pt text


9 pt outlined:



9 pt outlined


6 pt text:


6 pt text


6 pt outlined:


6 pt outlined


creative writing - Why can't I write something longer than a few pages?


I write short stories, a lot of short-shorts. I would say the longest thing I've actually finished writing is "Lord of Snakes", which was about 19 pages typed. (And not even very good.) So I've always wanted to be able to write something...at least 60,000 words. And maybe it is because I feel like I can't be a true writer without writing a novel. And maybe that's wrong, but I'm...extremely frustrated by my inability to write something of length.


I'm not entirely sure why. When I write shorts I DO plan, and construct and such...but in many ways the characters and plot seem to write themselves freely, using me only as a medium. And that's what WORKS. When I try to write something long I end up getting terrible writer's block and can't write for days or more--because if I do write then I all but mess up the story. And because I'm not writing on it I sort of lose interest and when I come back to it I just get confused. It's like I can't handle anything complicated. I try mapping out the story and characters like people suggest, but that seems to just...mess with my mind and make it worse.



So sometimes I start over. Like with "Annabel's Demon"--I've tried three different times to write it, and each time end up at a standstill. I tried writing in third, then first, then third again. Tweaked the story and characters. Completely started over. And found myself failing to write anything decent. I get lost. I stop and try to go back. I leave it for a while and write something else. Once, when I was a preteen, I managed to write a good 80 pages of a story, but never finished. And now when I go back to it I realise it just needs rewritten and...it isn't a good enough story for that much work.


Please help. Help me at least understand what I'm doing wrong. I so badly want to write something of length. I feel bad for all the decent story ideas I've abandoned because they...stopped dead.




Should Sharpe ratio be computed using log returns or relative returns?


I am trying to reconcile some research with some published values of 'Sharpe ratio', and would like to know the 'standard' method for computing the same:




  1. Based on daily returns? Monthly? Weekly?

  2. Computed based on log returns or relative returns?

  3. How should the result be annualized (I can think of a wrong way to do it for relative returns, and hope it is not the standard)?




Wednesday, June 28, 2017

website design - How should I add a realistic shadow to this?


I'm working on a mockup of a jQuery slider which can be found here.


Now, I'm not the best graphic designer by any stretch of the imagination, and I can't seem to be able to get a realistic looking shadow. What I want is for the phone to appear as if it's standing on its side, but all of my attempts in Photoshop usually result in the phone looking like it's floating at a weird angle.


What I've tried so far (and failed at):



  • Added an elipse near the bottom of the phone and blurred it. This sorta worked but just doesn't look right.

  • Added a rectangle and did the same as the previous bullet, but this looked worse.

  • Tried using a drop shadow layer effect. This looked horrible.


Can anyone give me some suggestions?




Answer



EDIT: [ After looking again, something was just not right.... So, the first thing I would do is rotate the phone 180°. It won't sit on the buttons therefore the buttons need to be on top. ]


Then....


The key is the initial shape. Narrower at the base of the phone then slightly wider at the lower edge. You want to start with a trapezoid.


Shadow Shape


Add Filter > Blur > Gaussian Blur


blur


Lower opacity to your liking.


Opacity


For additional realism add a second shadow smaller and slightly darker above the first shadow.



Second Shadow


options - Fitting Function for Skew


I am faced with having to fit skew/smile to option quotes with different strike and same maturity. In order to keep things reasonably simple and to avoid potential artifacts from fitting higher order polynomials, I thought of using a quadratic polynomial.


Is there a consensus on which functions to use, resp. a paper discussing what makes most sense ?




Answer



@Lisa Ann: Typing an answer to my own post, mostly to share my "findings" for the benefit of anyone coming across this.


Looking at the paper of Brigo, Mercurio and Rapisarda, they fit using a single forward price. This comes at the expense of being able to fit only smiles, where the minimum is ATMF. I asked why, and got the answer that choosing different forward prices for the individual fit functions (as does Bahra) will allow for fitting smiles with non-ATMF minima (which I often find in the markets I am concerned with), however it may result in results that allow for arbitrage. While for $\lim_{K \to 0}$ and $\lim_{K \to \infty}$ there is no issue. However, I have indeed observed that CDF values <0 resp. >1 do occur.


Looks like shifting the distributions as described in the Brigo paper is called for ...


designers - InDesign: How to restore text-frame position/size to be managed by the master page instead of the actual page?


I have some designer that moved slightly a text-frame and in order to be managed again by the master page we need to remove the page and create a new one inserting the content in it.



Is there any different way to do it?


I would like to be able to restore the "power" of positioning/size to the master page because now we need to change the master-page to position the text-frame a little bit to the right and in the case above mentioned will not be updated.


Thanks



Answer



Select the offending text frame, and open the Palette options in the Pages palette. Choose 'Master Pages' > 'Remove Selected Local Overrides'.


This makes the text frame obey the Master again. It does, however, also remove the frame's content and locks it again. You'll have to re-unlock it and re-add the content.


Valuation of FX vs. Commodities Barrier Options


With reference to my previous question about the computation of a barrier option delta, @LocalVolatility referenced a nice closed form solution to value barrier options on a stock paying a dividend yield. Out of curiosity, I wonder wether this model could "be abused" to value a similar barrier option on a commodities future? To value an FX option I would simply exchange the dividend yield with the foreign exchange rate.


Let's say I want to value an option on some commodites future, I understand that for a Vanilla option I could use the Black model (which is related to the Garman Kohlhagen model). The thought was, could I possibly "abuse" the model above to value a respective barrier option on a commodities future? My "idea of abusal" here would be, given the future, to extract the spot from the future via the interest rate parity relation and use this as input to the model. I know this is really vague, especially since it ignores things like storage costs in the cost of carry, just wondering?


EDIT


As mentioned in a comment below, I wonder wether I could also just exchange the dividend yield for the risk free rate and then price on the future. Intuitively, I got the idea from the derivation of the Black model, but I'm not sure at all.



Answer



If I understand your question correctly, then you have a barrier option pricer for spot model dynamics of the form


\begin{equation} \mathrm{d}S_t = (r - \delta) S_t \mathrm{d}t + \sigma S_t \mathrm{d}W_t. \end{equation}



Now you are wondering whether you can abuse the input parameters in a way such as to use the same model to price options on a forward contract. Normally, the forward dynamics under the Black-Scholes model are given by


\begin{equation} \mathrm{d}F_t = \sigma F_t \mathrm{d}W_t. \end{equation}


You could thus set $S_0 = F_0$ and $\delta = r$ in your model and get the correct price.


cs6 - InDesign: how to get anchored objects to flow within text boxes


Writing my thesis and this drives me mad. I:





  1. place images,




  2. add captions to them,




  3. ..and anchor (see pink arrow) them to relevant text, see image:




enter image description here



(ignore here that the image falls off the page to the right)


Then I write more, and the image fall out of the text box and the page itself, like so:


enter image description here


(ignore here that the image falls off the page to the right)


I have fiddled endlessly with the "anchored object options" without any of that helping whatsoever.


Clearly what I want is InDesign to accept the anchor, but when the image lands between pages, to choose either. As long as the images stays on a page I am happy.


I have trawled piles of tuts, but none address this. Anyone?


(I have automatic addition of pages; there are no manual text-box connecting)





@CAI answer below aaaaalmost gets me there. Here is the problem now. I anchor the image – red circle is the anchor: enter image description here


I then write more, above so the text and image moves down. BUT: I get text (from before the anchor) behind the image before it shifts to next page as it should.


I have changed transparency so you see:


enter image description here


Soo close... any suggestions?



Answer



All of the problems you describe are inherent in the underlying structure of an InDesign document. E.g., InDesign can only calculate how to move text out of the way of an anchored object after the point at which is is anchored. (There are reasons for this. It's not nearly as simple as it might seem.) The anchor and the object must be on the same page, so you're never going to be able to have an image on page 22 with its anchor on page 21.


There are two different answers, covering the two situations of full-width illustrations and text-wrapped illustrations.


Full Width Illustrations


For illustrations that are close enough to full width that they will have no wrapped text, the answer is to use an Inline object. This enormously simplifies the task for you and InDesign.





  • Create a new paragraph style -- call it "illustration" or something similar. Set its Space Before and Space After to match your regular paragraphs, and be sure that Leading is set to "Auto."




  • Place the illustration somewhere on the page or pasteboard, add the caption, group, then cut the group to the clipboard.




  • Create a new paragraph with your "Illustration" paragraph style.





  • With the text cursor in that paragraph, Paste.




As with the other case described below, it is in any case better to hold off until the text is done before inserting these objects. (Patience, grasshopper...)


Illustrations that require wrapped text


The answer here is perhaps less satisfactory but relates to the purpose of InDesign as a layout tool. As someone who's designed a lot of books and other long documents, I can promise you that the sequence in which you do things makes a huge difference to how the work goes.




  1. Don't anchor illustrations or tables until the text is complete, or very close to it. You will only drive yourself to strong language, strong drink, or both, if you anchor illustrations while the actual text is still in flux. Rather, put placeholders in the text, using a unique character pattern you can easily search for later.





  2. When placing illustrations, correcting for widows, orphans, runts or other typographic anomalies, work from the beginning of the text to the end. This is obvious if you think about it for a moment, but it's surprising how many otherwise-smart people don't think about it for a moment.




Good luck with the thesis!


publishing - Who pays for lyrics or quotes?


Occasionally, novels will include song lyrics in the story, or start out chapters with songs or quotes. In many cases, these lyrics or quotes are from copyrighted materials and would presumably require royalties be paid to the original author.


Does the publisher typically negotiate the purchase of these rights, or is it the responsibility of the author? Who actually pays the necessary fees?



Answer



Quotes from real people and books are generally considered fair use so they can be used without paying anyone. Song lyrics and poems are a gray area. Some people will tell you you can use portions of song lyrics - a line or two - but others will say you can't use any without permission.


If you're not using the whole song, you'd probably be able to get permission to use it without paying anything. It'd be free publicity to the owner of the lyrics - most likely the record company. If you're using the entire song, that's completely different and you might be require to pay for permission to use them. How much and whether it's a flat fee or royalties will depend on how it's negotiated.


Unless you're a NYT Bestselling author and the publishing house really really wants you, the author will have to pay this out. Publishing houses aren't going to cut into their own profits unless they really have to.


Regular pagination vs. infinite scroll


I'm currently making a dating site, my choice for pagination is between the traditional:


[<< Prev] [1] [2] [3] [Next >>]

vs


[ Load More ]

The 2nd is the "load more" bar or button that is on a couple of popular sites now like twitter and facebook. Either way the results will be delivered via ajax without page reload.


Being a developer and not a ux person I was wondering what you guys think would be more appropriate and user friendly for a site like this? Basically there is a search form with lots of filters at the top of the page and when the user chooses their options and hits submit the results and pagination will appear on the same page underneath the form.



If I do go with the load more type pagination, would it be better to make it auto loading (i.e. when the user reaches the bottom of the page more results load without them having to do anything) or load more only on click?


I personally find auto loading annoying but I have no idea how the majority of audiences feel about it.



Answer



[ Load More ] is certainly more "friendly" than a set of pagination links, but, importantly, there is no indication of how much more data there is that could be viewed. So you would need to add something else that gives that information - assuming it's available.


If you don't know the total number of matches (thanks @Erics) then [ Load More ] is ideal.


If you know the total number of matches [ Load More ] plus an indication of the total number of matches would be OK, as people are usually only interested in the results from the first few "pages" of matches (Google search results spring to mind here).


You need to answer the following question: Is it important for the user to know that there are 3 (or 5) pages of possible matches or will they be happy to keep clicking [ Load More ] until they either a) find a match or b) get bored?


If it's the former then you need this total and to use pagination, if it's the latter, then go for [ Load More ].


Ultimately I think whether you use auto loading is a personal preference. Personally I find it annoying as I expect to scroll to the bottom of the page and see an indication of how much data there is still left to view, but your users might not.


character development - Is there any standardized definition of a "Mary Sue"?



I've heard the term "Mary Sue" thrown around a lot, and it seems to mean different things to different people, but is always something negative about the way the character is written, not necessarily about the character itself, usually involving the phrase "overly idealized". Is there any common definition that most people follow that can be properly qualified?



Answer



A Mary Sue is a character who passively warps the fabric of the story to their own benefit by virtue of mere existence, and acts only within that context. That's really what most of the extant and often inconsistent definitions boil down to.


The key defining characteristic of this is a sort of reversed narrative causality: The character is unique; therefore they were born with an unusual eye color. The character succeeds; therefore they learned the necessary skills somewhere. The character is popular; therefore other characters like them, regardless of behavior or motivation. The character is dark and angsty; therefore they had a tragic past. There's often no rhyme or reason to the implied backstory except in the context of setting the character up to act in the current situation. Most descriptions of a Mary Sue are essentially lists of character traits commonly used to prop up a Mary Sue in this manner.


A consequence of the reversed causality is that justification of the character's traits or development of their personality is treated as inessential. Other characters will interact with the Mary Sue in whatever way they're Supposed To, their motivations for doing so contrived as needed or just having their personal agency overridden outright by force of narrative.


Self-inserts are frequently written as Sues for obvious reasons, but any character favored by the author can get the same treatment, up to and including distorted interpretations of canon characters in fanfic.




The term originates from fanfiction, where the artificiality of the character and the effects of their presence are most clearly visible against an established backdrop. A setting with multiple authors can be similar--writers using a shared setting, role-playing groups, &c.--if one author tries to make their character(s) more important by fiat or contrived situations.


For a single author with a new story in an independent setting with original characters the term is harder to use in a meaningful way, which is not to say that accusations aren't made. A main character who is too perfect, too competent, too successful, and all around too much isn't a Mary Sue if showcasing their larger-than-life exploits is the intended purpose of the story. A secondary character being oh-so-special and interesting and important isn't a Mary Sue if the entire cast is similarly over the top and the narrative doesn't consistently favor any one character. A female character doing something unexpectedly interesting is not automatically a Mary Sue, for crying out loud.


In short, there is no "archetype" here, though some archetypes are more susceptible than others. A character being a Mary Sue is first and foremost a property of their role in the story.



Tuesday, June 27, 2017

buttons - Save & Add New, Save & Close, Save, Done, Cancel


This is something I've been struggling with, because there seems to be a lack of standard for it (as far as I can tell).


There are two scenarios.


Save & Close and Save & Add New


We are creating new items. A modal pops up, and we have Save & Close, Save & Add New and Cancel at the bottom. Save & Close saves the current item and closes the modal. Save & Add New saves the current item and displays an empty form to create a new item. Cancel just dismisses the current item and closes the modal.


Now, we have an evaluate screen (without auto-save)...



Save, Done and Cancel


During evaluation, Save saves the state of the evaluation (which can be a quite lengthy process), Done saves the state and returns you to a list of evaluable items. Cancel dismisses all changes made (after the last Save is any) and returns you to a list of evaluable items.


I suppose my question is, is this the best way to handle these things? Something doesn't seem quite right, but I can't put my finger on it. Maybe it's just wording?


Keep in mind, there is no auto-save. Maybe Done can replace Cancel completely and show a prompt about whether or not we want to save the changes?




terminology - Token-based interactive system meaning



Recently I enrolled to HCI course, and there was mentioned that WIMP (windows, icons, menus, pointer) is a token-based interactive system. Does anyone knows what does token-based mean in WIMP system, since "token-based" was implied, because nonWIMP is (I guess) seen as non-token-based.




research - Is pop up always bad?


I am involved in a redesign project (web app) where existing system throws quite frequent, random pop ups. These pop ups are used to gather information and also to display information and confirmation. Considering just to enter 1-2 form fields or checking and applying filter criteria popups were used. I am trying to get rid of these redundant pop ups. Now stakeholders are insisting on keeping most of the popups as they think users are very well acquainted to the system.


I am facing hard time convincing stakeholder 'why pop ups should not be used or atleast minimized' Any guideline/research suggesting scenarios for proper pop usage (when to use and when not to) will help me understand and convince stakeholders accordingly.



Answer




Pop-ups are great. They're usually called modal dialogs because a user cannot do anything but complete the task in the popup. This is their primary functionality and they're better and clearer at that than most similar solutions. In OSX you also have what they call Sheets, but they're a lot less clear about the fact that you need to finish them before you can go back to the main application.


Windows GUI guidelines speak of modeless dialogs, ones that still allow you to interact with the rest of the interface. They would still be in front of it though, and probably in the way. Take for instance the Pop-over described in the OSX Human Interface Guidelines: you can not really interact with the calendar behind the pop-over. The nice thing these kinds of dialogs is that they offer other exits: you can still reach a menu item on the parent window, go there and at the same time close the pop-over. It skips having to specifically tell the pop-over to close and allows you to get on with your task more smoothly.


So, dialogs, even the modeless ones, interrupt whatever the user was doing, break out of the visual layout of the screen and totally grab the user's attention. If this is what you need to accomplish, they rock and there are many use-cases for them.


However, this incredible power tends to be overused. The primary problem is with the idea that you get to decide what the user should be doing right now. Clients, tend to love that sense of control. They'll feel that information X is super important right now and that the user should drop whatever he was doing and give that information. Programmers also love that kind of control so that they don't have to deal with not having certain information.


However, this totally conflicts with what is important to the user. People like to have a sense of autonomy and control, kinda just like your client does. Pop-ups take control away from the user, demanding attention to something specific.


Pop-ups also break out of the flow of the application and therefore cannot be part of that flow. If you're trying to build an interface where the user can focus on performing a task, you should avoid using pop-ups for parts of that task. That what makes them so powerful also makes them so awful: a user will need to reconfirm their position on the screen ("what is this, where am I") as soon as the dialog opens, and then again when it closes. Pop-ups by their definition break concentration.


A very important concept in UX design is the idea of flow as a state of mind. While this is usually discussed in the context of games, because concepts like goals and control are obviously part of that, these things are important in everything we do. We should strive to create experiences that make people feel great, whatever they're doing. Key factors for that to happen include the following (from the linked article, emphasis mine), and note how pop-ups work against a number of these factors:



The studies have suggested that the phenomenology of enjoyment has eight major components. When people reflect on how it feels when their experience is most positive, they mention at least one, and often all, of the following:
1. We confront tasks we have a chance of completing;

2. We must be able to concentrate on what we are doing;
3. The task has clear goals;
4. The task provides immediate feedback;
5. One acts with deep, but effortless involvement, that removes from awareness the worries and frustrations of everyday life;
6. One exercises a sense of control over their actions;
7. Concern for the self disappears, yet, paradoxically the sense of self emerges stronger after the flow experience is over; and
8. The sense of duration of time is altered.



tldr: use pop-ups when you need to, but they're not needed as much as you think and they get in the way of flow, making your users unhappy


adobe illustrator - Where did my default brushes go?


I was working on a logo design for a client in Illustrator CS4 when suddenly the default brushes were no longer there. The brush files are still in place but they do not show up in the brushes panel. The options to show the brushes by type are checked but greyed out.


I tried a preference reset, that didn't fix it. I haven't tried any new brushes because the brush I needed was in the stock set. I know its bad form not to try everything but I needed one of the stock brushes to tweak an existing design.




publishing - Is it a bad idea to publish individual chapters of my book idea online for feedback?


I have already typed at least 6-7 chapters of this book I've been focused on, but what I want to ask is, is it wise to post what I have so far online for feedback? Or am I just setting myself up for someone to potentially come across my work and steal it for themselves, and if/when my book is complete and published, would you or others already be too familiar with how the book will turn out and not bother with it?


Also, my book, which I have two sequels in mind for (those are for another time), will have supernatural beings in it, but no vampiric creatures of any kind (they will be non-existent in my book/series' universe, but will include three species of werewolves in the overall series I have in mind (two separate, the former called Rougarou or Roug for short, and Dire Hounds for the latter and one hybrid of the two which I plan on naming "Lybrid"). The first book will be mostly "grounded" but will be "peppered" with "unexplained occurrences" (how much I'm not sure yet) throughout. Oh! And my main character will be mute and communicate primarily in American Sign Language (though to be honest I have no idea how to portray it in the book, as I am writing using Third Person Multiple POV), while also suffering from a degree of amnesia (for how long I have not decided just yet, but probably until the end of this sequel idea).


I have never posted any of my work online before, let alone for advice/feedback, so should I do it? Or am I just being overly cautious?


I'm thinking about not including a prologue. Is that a good idea? Bad idea? Or is it down to personal preference?





Monday, June 26, 2017

adobe photoshop - My web logo looks pixelated after resizing


I am trying to resize my logo for the web but so far I have not been seeing the result that I want to. It was in a vector format first (AI) and then it was converted to PSD. I then used the image resize option to resize it. This is how my logo looks in Photoshop:


locatask logo


This is how my logo looks on my website when I remove the background and place it on my website


locatask logo resized


It seems a bit pixelated. It does not have the sharp and crispy look I would expect it to have. I am wondering if there is a way to preserve the crispy sharp look of the logo even at that small size.




How should I calculate the implied volatility of an American option in a real-time production environment?


There are many models available for calculating the implied volatility of an American option. The most popular method, employed by OptionMetrics and others, is probably the Cox-Ross-Rubinstein model. However, since this method is numerical, it yields a computationally intensive algorithm which may not be feasible (at least for my level of hardware) for repeated re-calculation of implied volatility on a hundreds of option contracts and underlying instruments with ever-changing prices. I am looking for an efficient and accurate closed form algorithm for calculating implied volatility. Does anyone have any experience with this problem?


The most popular closed-form approximation appears to be Bjerksund and Stensland (2002), which is recommended by Matlab as the top choice for American options, although I've also seen Ju and Zhong (1999) mentioned on Wilmott. I am interested in knowing which of these (or other) methods gives the most reasonable and accurate approximations in a real-world setting.



Answer




I have worked on this topic extensively (pricing and calculating IV in production) and believe can offer an informed opinion. First of all Mathworks - the company that creates Matlab is not a trading firm so you should probably not rely on their advice so much.


There are few closed form options pricing models, and all have practical shortcomings. Barone-Adesi and Whaley (please correct my spelling of last names as I'm typing from memory) model is simple approximation for American options but is unfortunately not very accurate, and does not deal with dividends. Roll-Geske-Whaley deals with dividends, but not very well - there are arbitrage situations that are possible in the model. Ju and Zhong have another approximation but again not very accurate. Finally Bjerksund and Stensland seem to have the best approximation (2002 version, not 1993) but that still does not solve the discrete dividend problem.


In my experience the tree is the way to go. CRR trees are slow but Leisen and Reimer, 1995 came up with a scheme that converges much faster. Also Mark Joshi created his own binomial scheme that converges slightly faster. Instead of discrete dividend you can use discrete proportional dividend - so you don't end up with a bushy tree. Alternatively you can try a trinomial tree and extra DF will give you better resolution on dividend, but I did not find that big of an improvement in production. That in my opinion is the best combination for speed and accuracy. If you're looking for alternative opinions check out these two articles - http://www.nccr-finrisk.uzh.ch/media/pdf/ODD.pdf about discrete dividend problem, and http://ssrn.com/abstract=1567218 on pricing American options.


Still the most important speed improvements will come in from your code: one technique that is extensively used in quoting servers is pre-computation. Basically you continuously compute prices for the stock price $\pm 0.1$ and volatility $\pm 0.01$, so when spot or vol moves you used pre-computed cached value (or interpolated from closest values).


resources - Recommended UI / UX / IxD Master Studies?



I'm looking for recommendations for Master degree programs where I can learn UX / IxD, especially in Europe (but not limited, other people from other parts of the world could be interested in this topic). I know there are many universities with this specialization in USA, but that is very very far for me (I'm from Romania, EU).


This topic is somehow related to The must-read User Interface Book?, but actually I would like to get a degree and get the chance to work/learn with/from people that share the same passion.



I'm asking this question because is much easier for people that work/live in a country to know universities that have the best reputation (I can tell you that you can't find this kind of Master in Romania).




Layout for technical documents


I've being doing some research regarding how to present a good quality technical document (to be more specific, a PhD Thesis).


It seems to me there is some consensus regarding the fonts (as described in What font types are good for a technical document? and Fonts for technical reports), which makes me very happy because I really like when standards are around.


So, since my thesis is in biomedical engineering, I've come to two conclusions: to use Times New Roman and to set the main font at 12pt (most of my readers are over 40 years old).


Now what I need to know as one of the most general characteristics is what the text block should be. I've read some Tschichold's guidelines, and it can be summarized like this:


textwidth=0.66666667\paperwidth,%
inner=0.123\paperwidth,% (inner margin)
textheight=0.666666667\paperheight,%

bottom=0.22222222\paperheight,%
headheight=1em,%

(Look here for a graphical description)


Now, it seems that is somewhat The Standard (although yesterday I was in a bookstore and I didn't see any book following Tschichold's scheme) for writing books, but is it OK to assume this should be the layout for a technical document? If not, what other set of rules can I follow?



Answer



(Moved from comment)
look at other documents from your department. The reason you are having trouble identifying a standard, especially in the bookstore, is that there is no standard. Graphic Design is an art, not a science. We could cite studies about preferences etc, but they are really an attempt at bracketing an almost completely subjective subject in an objective manner. You will still be left with subjective leeway to get things done. If you need a rule, get some hardcopy and use a ruler. 12 pt seems reasonable. Margins and spacing are dictated by space, money and use requirements. (e.g grading/copyediting)




some pseudo-typical measurements for books:




  • .375-.675 (inches) margins

  • gutter margin larger by .75x

  • gutter margin smaller by .75x

  • bottom margin larger than top margin by 1.2x-1.5x

  • 1.2x type size as line spacing (leading) for body text

  • header lines 1.2x-1.5x the type size of the type size one step lower in content hierarchy.

  • captions .75x-1x body text size, with line height 1x-1.2x caption text size

  • runaround for inset images: 1x body type size left/right; .5x body text size top/bottom





I'll add for a 3rd time: if your department has a style guide use it. It may be required. If you are submitting to a journal, they have guidelines. Use them.


In those cases, the decisions are being made for you.


Illustrator vector aliasing


How can I make my vector graphics anti-aliased in illustrator? My paths always turn out jagged. Is there an option like in Adobe Fireworks to smoothen[remove the jaged edges] my paths?



Answer



In Edit > Preferences > General there is an option that toggles Anti-Aliasing for art as it is displayed on screen while you work.


Under Effect > Document Raster Effect Settings there is a checkbox for Anti-Aliasing that controls to some degree the outcome of the file once it is saved to a non-vector format (ie. jpg, gif, png).


Depending on which file type you save to there are often more options that can affect the appearance of jagged lines in your art. What you are saving can influence how you should use these settings, as you may want to do things that may seem counter intuitive. Small type for example may need no or very little anti-aliasing or it will become muddy. Also take into consideration the PPI of the file. Low resolution images will appear have jagged edges even with anti-aliasing—the human eye can detect up to 150 ppi, at 72 ppi the pixels will not resolve at a normal viewing distance.


When does a persuasive pattern become a 'dark' pattern?



The UI Patterns website lists a large number of current and emerging design patterns.


Under the section called Persuasive Design Patterns, and many of these patterns are commonly seen in social media websites that are aimed at attracting new users or creating incentives for them to spend money. It feels like that some of them would fall into the definition of a 'dark' pattern.


My question is: what types of persuasive patterns fall into the 'dark' pattern category, and is there somewhere that is sensible to draw a line?




fiction - Open Source Publishing?


If an author is not concerned about making money from her story, but rather would like to publish the story to protect the story from copy right yet allow others to read and review the story for critical improvement, is there such an open source website or facility that promotes such a peer review environment?



Answer



Create an ebook and distribute it through Amazon's Kindle Direct Publishing (or other ebook selling platforms) for $0.




Note:


Amazon KDP allows to give away your book for free for some limited time, after that you have to sell it for at least $0.99. But you can publish it for free elsewhere, and since Amazon always wants to have the cheapes prices, once you report that your book is available for free elsewhere, you can lower your price to free on Amazon, too. I never tried this, just read about it in forums and blogs. Google to find a more detailed how to. Of course you can always ignore Amazon and just use other platforms, but Amazon has the widest reach, so I would try to be on there, if I could.


Also:



Don't be hasty and throw away your idea just yet. Take some time to evaluate all options, let some experienced readers read it and give you feedback (find bloggers doing reviews in your genre and ask them for feedback), if they are even half positive, either educate yourself to write well or find a co-author, etc. You can always publish your book free, but maybe some better ideas come along in the next weeks or months.


Sunday, June 25, 2017

academic writing - How many points are sufficient for my essay?


I am writing a 3000 word essay entitled 'Challenges and opportunities of future Civil Aviation'. For the essay, I have taken two aspects of the future of civil aviation in supersonic flight and biofuels. I then go into detail for each giving a little background followed by looking at the challenges of each aspect and weighing it against the positives.


I am now wondering whether it is worth adding a third aspect (with 700 words spare) or is better to go back to add to my previous points? I am just hesitant as to whether only 2 aspects cover enough breadth of the 'future'.





stochastic calculus - How were these SDE derived?



Can anyone give me a detailed explanation of how below equations (3) and (4) are derived from (1) and (2)? \begin{align*} \frac{dF_{t,T}}{F_{t,T}} &=\sigma e^{-\lambda(T-t)}dB_t, \tag{1}\\ \ln(F_{t,T})&=\ln(F_{0,T})-1/2\int_{0}^{t}\sigma^2 e^{-2\lambda(T-s)}ds+\int_{0}^{t}\sigma e^{-\lambda(T-s)}dB_s.\tag{2} \end{align*} Given $\ln(S_t)=\ln(F_{t,t})$, we have: \begin{align*} \frac{dS_t}{S_t}=(\mu_t-\lambda \ln(S_t))dt+\sigma dB_t,\tag{3} \end{align*} where \begin{align*} \mu_t=\frac{\partial \ln(F_{0,t})}{\partial t} +\lambda \ln(F_{0,t})+\frac{1}{4}\sigma^2(1-e^{-2\lambda t}). \tag{4} \end{align*} Or anything related to them will be helpful.



Answer



From $(2)$, \begin{align*} \ln S_t &=\ln F_{t, t} \\ &= \ln F_{0, t}-\frac{1}{2}\int_0^t\sigma^2 e^{-2\lambda (t-s)}ds+\int_0^t \sigma e^{-\lambda(t-s)} dB_s\\ &=\ln F_{0, t}-\frac{\sigma^2}{4\lambda} \left(1-e^{-2\lambda t}\right)+e^{-\lambda t}\int_0^t \sigma e^{\lambda s} dB_s. \end{align*} Then, \begin{align*} \lambda e^{-\lambda t}\int_0^t \sigma e^{\lambda s} dB_s = \lambda \ln S_t - \lambda \ln F_{0, t} + \frac{\sigma^2}{4} \left(1-e^{-2\lambda t}\right). \end{align*} Therefore, \begin{align*} d\ln S_t &= \left(\frac{\partial \ln F_{0, t}}{\partial t}-\frac{\sigma^2}{2}e^{-2\lambda t} - \lambda e^{-\lambda t}\int_0^t \sigma e^{\lambda s} dB_s\right)dt +\sigma dB_t\\ &=\left[\frac{\partial \ln F_{0, t}}{\partial t}-\frac{\sigma^2}{2}e^{-2\lambda t}+\lambda \ln F_{0, t} - \frac{\sigma^2}{4} \left(1-e^{-2\lambda t}\right) -\lambda \ln S_t\right]dt + \sigma dB_t\\ &=\left(\frac{\partial \ln F_{0, t}}{\partial t}+\lambda \ln F_{0, t} -\frac{\sigma^2}{4} - \frac{\sigma^2}{4} e^{-2\lambda t} -\lambda \ln S_t\right)dt + \sigma dB_t. \end{align*} Note that \begin{align*} d\langle \ln S, \ln S \rangle_t= \sigma^2 dt. \end{align*} By Ito's lemma, \begin{align*} dS_t &= de^{\ln S_t}\\ &= e^{\ln S_t} d \ln S_t + \frac{1}{2}e^{\ln S_t}d\langle \ln S, \ln S \rangle_t\\ &=S_t d \ln S_t + \frac{1}{2} \sigma^2 S_t dt\\ &= S_t\left[\left(\frac{\partial \ln F_{0, t}}{\partial t}+\lambda \ln F_{0, t} -\frac{\sigma^2}{4} - \frac{\sigma^2}{4} e^{-2\lambda t} -\lambda \ln S_t\right)dt + \sigma dB_t + \frac{\sigma^2}{2} dt \right]\\ &=S_t\big[\left(\mu_t - \lambda \ln S_t\right)dt + \sigma dB_t\big], \end{align*} where \begin{align*} \mu_t = \frac{\partial \ln F_{0, t}}{\partial t}+\lambda \ln F_{0, t} +\frac{\sigma^2}{4}\left(1- e^{-2\lambda t}\right). \end{align*}


Saturday, June 24, 2017

material design - Why isn't primary text full opacity?


I've been reading the material design guidelines and it suggests:



For dark text on light backgrounds, apply the following opacity levels:


The most important text has an opacity of 87%.



I'm just curious as to why the primary text wouldn't use 100% opacity in this circumstance, which it does for light text/dark background?



Is there a intended eye health benefit, device display protection, or did the author of this just really like the number 87?


I've tried searching around keywords such as "material primary text opacity" or "material 87% text opacity" etc, but no success thus far...



Answer



Just to add as to why the number 87% is used as the starting point.


It has been answered why they didn't want you to use true black and instead lowering the opacity to create shades of gray. So natuarally they would choose these values out of their "Gray" color palette. EDIT: I see there's no references for why not to use true black, here's a UX.SE answer explaining Is there a problem with using black text on white backgrounds? If you scroll through the answers there are a bunch of (not very academic but generally accepted) sources.


Black - #000000 - rgba(0,0,0,1);


87% - rgba(0,0,0,.87) = rgb(33,33,33) = #212121
54% - rgba(0,0,0,.54) = rgb(117,117,117) = #757575
38% - rgba(0,0,0,.38) = rgba(158,158,158) = #9E9E9E


enter image description here



So they started with the darkest text being the darkest gray on their palette, then they picked two suitable lower colors still from their palette. Doesn't explain why they picked those lower colors exactly but explains that the percentages aren't really random.


How to draw an arrow in inkscape


I would like to add an arrow to an Inkscape project. I read this question but it didn't tell how to actually make the arrow:


Set the colour of arrows in inkscape




Answer




  1. Draw a line (Shift+F6)

  2. Open Fill and Stroke dialog (Shift+Ctrl+F)

  3. Select Stroke Style tab

  4. Choose an arrow for the Start Marker or End Marker


Source: draw line arrows in inkscape


discounting - Bloomberg terminal swap zero curve calculation


I would like to ask about swap zero curve calculation algorithm by Bloomberg terminal. This is a plain vanilla CZK interest rate swap, fixing the Prague IBOR. My task is to calculate zero rates from market rates, however I have only managed to get accurate zero rates from 2 years onwards. I tried to bootstrap spot rates from FRAs (CKFR0F1 is FRA 6x12 and CKFR011 is 12x18) with this formula:



$(1+r_{0;t_{0}}\frac{t_{0}}{360})*(1+r_{t_{0};t_{0}+t{u}}\frac{t_{u}}{360})= (1+r_{0;t_{0}+t{u}}\frac{t_{u}+t_{0}}{360})$


Where $r_{0;t_{0}}= 0.0056$, $r_{t_{0};t_{0}+t{u}} = 0.0095$, $t_{0}=182$ and $t_{u}=183$. By solving this equation I get $r_{0;t_{0}+t{u}}=r_{0;1}= 0.007568827$, which is off only by a tiny fraction. I guess the mistake will be in day count conventions, however this is the closest I have come to the correct solution. Can someone explain how the calculation should be done?


I have also attached screenshots of the swap yield curve and cash-flows.


Swap cash-flows


Swap zero curve screenshot



Answer



It looks like you should use a different convention for the zero rates. I tried the following:


$$\left(1+r_{0;t_{0}}\frac{t_{0}}{360}\right) \times \left(1+r_{t_{0};t_{0}+t{u}}\frac{t_{u}}{360}\right) = \left(1+r_{0;t_{0}+t{u}}\right)^{\frac{t_{u}+t_{0}}{360}}$$


Solving with the same input gives $r_{t_{0};t_{0}+t{u}}=0.00756843$, in agreement with Bloomberg.


The right hand side convention kicks in because $(t_u+t_0)/360 > 1~year$. It's a convention used for zero rates, and it looks Bloomberg is using it.



The only source I'm aware of which treats this convention is Brigo and Mercurio:


https://books.google.ie/books?id=C31l_fs-mMkC&lpg=PA57&pg=PA9#v=onepage&q&f=false


Friday, June 23, 2017

How can I use multiple overlay effects simultaneously in Photoshop?


There are 3 overlay effects available in Photoshop as layer styles: Color, Gradient and Pattern. The problem: these effects come in a strictly fixed order!


Is it possible to make a translucent Gradient Overlay over a Color Overlay using only layer styles? Or a Multiply Pattern and Color Overlays?


illustration



Answer



You can use them at the same time by using different Blend modes and opacity levels.


Good thing to remember is that they stack up in order kinda like if you had layers:




  • Color Overlay - ( Above Gradient Overlay. )

  • Gradient Overlay ( Above Pattern Overlay. )

  • Pattern Overlay ( Below both. )


..and no, you cant change the order. What you can do is use different blend modes and opacity levels as mentioned and you will pretty much be able to do the same thing no matter what order they would be in.


enter image description here enter image description here enter image description here enter image description here


Also, in the layers panel if you open up the Effects ( or FX ) and right click one of them and select Create Layers, you can then control the position of those former layer styles, difference being that you cant control them like you could from blending options because they are layers. You can however put Layer styles in them if you want to.


enter image description here enter image description here


creative writing - Rhythm in the following passage


I wrote the following:




Having finished her breakfast, Tsuki went to take a walk at the beach. She made her way through the sand barefoot, feeling the cold water and foam run between her toes. This was one of her favorite sensations in the world. It reminded her of a distant childhood. Afternoons at the beach building sand castles and swimming under the sunset. Those days were only memories now. Did she still own them? She sat on the sand and gazed at the sea. There were still enormous waves, so high that they looked like skyscrapers. A big tree trunk was being tossed up and down among them.



I was wondering whether the rhythm/flow in the passage above (the bold section) is OK. Should I add a third item in the second sentence to make it more complete? Is the last one sentence too abrupt?


(The "did she own them," part has to do with the theme of the story. The story is about ownership and belonging.)



Answer



Too fragmented for my liking.


First, the brakes cry foul as you change the tempo from fast-forward "Having finished her breakfast, Tsuki went to take a walk at the beach" to idle foam running between toes, without as much as a paragraph break. Give us a paragraph that introduces the beach, removing shoes, touch of sand - one paragraph of braking from breakfast fast-forward to dipping your toes in sea foam is really not too much to ask for.


Then - sentences this short are good for rapid action, breathless fight. Definitely not good for reflexions like yours, and the descriptions are lacking depth too.



It reminded her of a distant childhood: afternoons at the beach building elaborate sand castles with multitude of colorful sea shells decorating castle walls, drawbridges of driftwood and gates of sticks; swimming under the sunset, ...




Smooth it out. Give it flair. Make the sentence flow and build upon what she's missing, make it rich and desirable. The two ending sentences build a good closure for that, bringing the paragraph to a conclusion.


Then, having done that, use the "She sat on the sand and gazed at the sea..." as start of a new paragraph. You gained an insight, ended an introspection, reached a conclusion, and now it's time to move ahead with the life - starting with a new paragraph.


adobe photoshop - Pencil effect over photo


I am wondering how can I achieve this pencil effect on an image using Photoshop or other software.


Is it some kind of painting? Or is there some converter tools? What I want is to convert a simple image to this effect.


enter image description here


enter image description here


enter image description here





Fix gap between path and shapes in Illustrator


I'm working on a cloud image and have created triangles using a template. After the cut and coloring, there are gaps between the triangles. It' about 1 px thick, more prominent when exported to Photoshop:


There are gaps where the triangle edges touch/meet


Is there a quick fix for this?


Edit:


After adding a blue background and saving as a jpeg, the lines become even more visible. Note that I mean the tiny dark blue lines in the background, not the overlay/connection lines. Just curious as to whether there is a way to "expand" these paths.


enter image description here



Answer



There's a Path Offset feature in Illustrator that makes the path go out or in from the shape by an equal amount.


Traditionally this has been used to make fonts heavier or thinner. But will work perfectly for this, too.



Here's a video showing it being used for fonts, but I'm sure you'll immediately see how you can use this technique to solve your problem:


https://www.youtube.com/watch?v=A1-IFcvW1RI


It looks like you'll need a very small number, something like 0.5 might be enough.




Assuming your goal is to get the Polygons to all be joined perfectly, at their edges, like this:


enter image description here


In which case these 'triangles' are known as Polygons. Traditionally they're done in 3D programs. Which are now, apparently, beyond the scope of this forum. Which is interesting, because you've just highlighted the crossover between 2D and 3D, perfectly.


Name of illusion phenomenon of bordering colors


Look at this picture:



enter image description here


All the squares are filled with solid color without any gradient, but at the borders between the colors we see as if gradients were used.


In the past I tried to create similar image by using gradients, but with the time realised that optical illusion gives me the opportunity to create the picture with solid colors without gradients.


I am looking for the name of this phenomenon. Tried to find the name but only "optical illusion" came to results.



Answer



The illusion is called "mach bands"


See here: Mach Bands


Excerpt:



The Mach bands effect is due to the spatial high-boost filtering performed by the human visual system on the luminance channel of the image captured by the retina. This filtering is largely performed in the retina itself, by lateral inhibition among its neurons.



The effect is independent of the orientation of the boundary.



adobe illustrator - How come my text looks like it is not dead centered?


enter image description here


I can't figure out why the text is not in dead center of my black screen. Looks a bit up. It have been entered with the align tool, but for a reason or another, to me it looks a little bit up.




What are the advantages/disadvantages of these approaches to deal with volatility surface?


I would like to know if someone could provide a summarized view of the advantages and disadvantages of the approaches on the volatility surface issues, such as:



  1. Local vol

  2. Stochastic Vol (Heston/SVI)


  3. Parametrization (Carr and Wu approach)



Answer



The volatiltiy surface is just a representation of European option prices as a function of strike and maturity in a different "unit" - namely implied volatility (while the term implied volatility has to be made precise by the model used to convert prices (quotes) into implied volatilities - for example: we may consider log-normal vols and normal vols). Volatility is often preferred over prices, e.g., when considering interpolations of European option prices (although this may introduce difficulties like arbitrage violations, see, e.g., http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1964634 ).


A local volatility model can generate a perfect fit to the implied volatility surface via Dupire's formula as long as the given surface is arbitrage free. In other words: the model can calibrate to a surface of European option prices. Since this calibration is done by an analytic formula the calibration is exact and fast.


Parametric models, like stochastic volatility models, usually are more difficult to calibrate to Europen option price. The formulas that are derived for calibration are usually more complex and often the model does not produce an exact fit. Obviously, the reason to use a stochastic volatility model (or parametric model) is not given by the need to calibrate to European options. The reason is to capture other effects of the model. An important effect to be considered is the forward volatility. Let $t=0$ denote today. Given the model is calibrated to the implied volatitliy surface. How does the volatlity surface generated by the model look like in $t=t_1$ at state $S(t_1) = S_1$? The forward volatility will describe the option price conditional to a future point in time. It is important for "Options on Options" and "Forward Start Options". In other words: More exotic products depend on this feature. While European option only depend on the terminal distributions conditional to today, such a feature depends on the dynamics (conditional transition probabilities). In a local volatility model the forward volatility shows a possibly unrealistic behavior: it flattens out. The smile is vanishing. A stochastic volatility model can produce a more realistic forward volatility surface, where the smile is almost self similar..


Another aspect are sensitivities (hedge ratios): Using a local volatility model may imply a too rigid assumption on how the volatiltiy surface depends on the spot. This then has implications on the calculation of sensitivities (greeks). Afaik, this was the main motivatoin to introduce the SABR model (which is a stochastic volatility model used to interpolate the implied volatility surface): to have a more realistic behavior w.r.t. Greeks).


To summarize:


Local Volatility Model:




  • Advantage: Fast and exact calibration to the volatility surface.

  • Suitable for products which only depend on terminal distribution of the underlying (no "conditional properties").

  • Not suitable for more complex products which depend heavily on "conditional properties".


Stochastic Volatility Model:



  • Advantage: Can produce more realistic dynamics, e.g. forward volatility. Can produce more realistic hedge dynamics.

  • Disadvantage: For products which depend only on terminal distributions the fit of the volatility surface may be too poor.


criticism - What things should one highlight as good in beta reading feedback?


When I read people's manuscripts to provide feedback, I can easily identify areas worth improving. However, feedback isn't all that helpful if it makes the writer give up, so good news needs to be presented too. I try my best to include that too, but my ratio needs work.



It's easy to look up what areas to say need improvement (if they do), because that's equivalent to looking up the most common ways beginning writers err. But besides saying "on this big list of things you didn't mess up these", is there anything else I should look for as possible areas to be positive (if earned)?




Thursday, June 22, 2017

What exactly is the "five (consecutive) word" plagiarism rule?


My understanding is that the toughest standard regarding plagiarism is the "five (consecutive) word" rule, which holds that, if there are five consecutive words identical to someone else's writing, then you are guilty of plagiarism.



This does not apply to, say, proper names like "The Loyal Order of Freemasons", which is considered one word, not five, but what about proverbs or trite expressions such as "My country right or wrong"?


My further understanding is that there are also "looser" standards for determining plagiarism (for example, ten or twenty consecutive "copied" words). When do such standards apply, and when does the five word standard apply?



Answer



I haven't heard this five-word rule. But I can easily think of many sequences of five words that no one would seriously consider plagiarism.



I think that I will


was the first time that


Britain, France, Germany, and Italy


all men, women, and children


March 1 of this year



turn left at the traffic light (that's six!)


five words in a row



Etc etc.


If some university or whatever institution is classifying as "plagiarism" any use of five words in a row that have ever previously been used anywhere in the world, I think that every student there, not to mention every faculty member, is guilty of plagiarism.


You can't rationally define plagiarism simply in terms of the number of words that are the same. Many short strings of words like those above are the most simple and direct way of expressing a common idea. If you never heard one of those phrasings before, you'd be likely to invent it.


I'm reminded of a TV comedy I saw years ago where a writer of home repair books was accused of plagiarism. And so in court the other writer's lawyer read samples from the two books that were word-for-word identical. Statements like, "Attach the faucet using two screws." At one point the defendant says, "How many ways are there to say, 'Attach the faucet using two screws.' 'Put in the two screws to attach the faucet.' 'Screw in the faucet with two screws.' 'See the two screws? Put 'em in.'"


On the other hand I can think of many short phrases that surely would be plagiarism. Like, "I have nothing to offer but blood, toil, tears, and sweat." "The ultimate question of life, the universe, and everything." "In the beginning, God created the heavens and the earth." "I think, therefore I am." (That's only three words in the original Latin: "Cogito, ergo sum.") If you used one of those strings of words in a way that implied it was original, I think you would be guilty of plagiarism.


equities - Which proxies to user for investor sentiment and industry performance, and where to find the data?


I came up with the idea of dealing with investor's sentiment effect in stock market in my thesis.


I would like to know which proxies you would suggest to use as sentiment index and from which source I can get data.


Next to that I would like to find data on certain industries performance so I'm looking for industry performance index.


Where can i have access to that given that my university doesn't have access to Bloomberg?



Answer



VIX is probably the first thing you should look at and is probably everyone's favorite sentiment indicator, so you can find it anywhere (usually ^VIX or $VIX).


COT is my second favorite indicator and it can be used as a sentiment indicator even though all it does is show the hands of the market participants with a big 2 week lag. Like everything else, most of the time COT is just noise, but when the commercials and the small speculators are in complete disagreement and both levels are outside of the 95th percentile, then it becomes an extremely accurate indicator of market tops and bottoms. The theory is that 99% of all active traders (represented by the small speculators) lose money. Compile the COT yourself from raw data here: http://www.cftc.gov/MarketReports/CommitmentsofTraders/HistoricalCompressed/index.htm


My third favorite contrarian indicator is the NYSE Advance-Decline Index. You can compile a cumulative indicator using free end-of-day data and when the level goes outside the 95th percentile, then it is pretty good at showing the turning points of the market from a contrarian standpoint. One such source is Kinetick from the Ninjatrader platform (^ADV and ^DECL).


I've tried to use the AAII Bull/Bear sentiment index in my trading many times and found it of little value. Perhaps it has become too popular and no longer works?



Another fairly obscure sentiment indicator is the magazine-covers indicator. I don't take it too seriously, but I do glance at the covers occasionally. The theory is that if a stock market-related issue appears on a mainstream, non-financial publication, then the issue is already overbought or oversold. I don't think this is reliable enough by itself, and is too subjective to be taken seriously, but it can be used as a confirmation to other indicators. You can get all the Time magazine covers going back to 1923 from here: http://search.time.com/results.html?No=315&sid=1537CD7ED1E9&Ns=p_date_range|1&N=46&Nty=1 The most recent two years are in separate pages: http://time.com/vault/year/2015/ http://time.com/vault/year/2016/


Regarding sector performance, I also recommend looking at ETFs. I just glance at the lists before making long-term decisions. But, you could compile much more sophisticated performance studies from ETF price data that is freely available everywhere.


http://seekingalpha.com/insight/etf-hub/asset_class_performance/countries http://seekingalpha.com/insight/etf-hub/asset_class_performance/sectors


I also like to look at sector heatmaps from time to time: http://www.finviz.com/map.ashx?t=sec


tools - Software for collaborative writing for a small team


I'm working on a writing project with a friend, and we're looking for some kind of (preferably cloud-based) project management and version control software so each of us can see how far the other has gotten on tasks and can review each others' documents. Does anything like that exist? I would prefer free, but will pay for software that meets my needs exactly (I've got a free solution I don't like at the moment).


Edit: To be clearer, I'm looking for something where I can, say, assign a task to myself or my partner, set a due date, and keep tabs on the progress, with files being uploaded into the system upon completion of the task, to be kept in version control so if we make an edit we don't like we can roll back. We're doing a lot of world documentation, character references, and other non-chapter files we'll be working with frequently.



Answer



I use git for version control, and it's terrific for writing projects.


I've used GitHub to share work in progress while collaborating with a friend. We wrote plain text files in markdown format.


GitHub also has an Issues tracker that can easily be used to assign, accept, and track individual tasks. My friend and I didn't need that to collaborate, but I've used it for some of my open source software projects, and it can easily adapt to a writing project.


There is a small fee to use GitHub for private projects. Perhaps there are other open source hosting sites that offer free private projects or lower fees, and support other version control systems. BitBucket, for example, offers a free account with private projects and support for git and mercurial. I don't know whether they have a built-in issues tracker. You could always use a hosting site for versioning and sharing, and something like PivotalTracker for managing the work.


Wednesday, June 21, 2017

plot - How to construct a beat to make an effective treatment for the purposes of revision & group revisions of a Novel?


Why this Question is Being asked


In a previous question it was suggested that I write a treatment to assist with revising & cutting. A treatment is essentially a multi-page, spoilerific summary of exactly what happens in a written work; but, the term comes not from the Novel, but from screenplay writing and is made up of beats. A beat is not standardly defined across the writing community and it is used in multiple ways.


Known Deficient Definitions/Examples/Uses of Beats/Treatments


At the time that question was asked, I had seen a couple examples of treatments or beat-sheets and I found the documents compelling and likely useful for revision process, but did not know how to convert an active work into one, which meant finding the beats and collecting them all in one place. That's because most of the places you read on the internet are going to contain partial or limited versions of one or two of the following:




  • an example of a beat sheet

  • an example of a treatment

  • a loose definition of a beat as the smallest unit of any action (essentially every action in the movie)

  • a loose definition of a beat as the smallest unit of plot (once every five minutes in a movie; a turning point for characters; or every swing of momentum within a scene, this could literally be nearly every second of staging)

  • a very detailed definition of a beat: all of the character considerations backing any action in a scene of the film which is great for directing a movie or play, but not good as a summary for revision purposes if you're going for a smaller document.


This is further complicated because a script is a very different thing than a novel. A script is usually shorter (only providing dialogue and very minimal setting/action descriptions) and, due to the medium, is often simpler, in terms of complexity, than a book.


So the question is, which of these definitions is most useful when writing a treatment for revision of a novel? And once I've picked the definition I want to target, what is the right way to construct said beats? Which moments in the book should qualify for beat status and which should be discarded as superfluous? And the next level, even if it qualifies as a beat for the treatment, how do you know you need to cut it from the work anyways? The definition of a beat within the context of a revision treatment should make it obvious why you'd want to use beats & treatments for revision; and based on previous discussions I'd expect (but here's an opportunity to correct me) that the act of summarizing the important and/or extraneous moments in a novel lets you focus the book on what it is about and cut the superfluous chunks of text; but you can only get there if you can differentiate "superfulous-but-recordable" beats from "additional-details/happenings-that-aren't-beats."


And why this is different from other questions.



A good answer to this question will provide actionable steps to create useful beats and a useful treatment for the revision process; it will define the components to assist in the actionable desired end result result; and it will be clear how the construction and use of this document will lead to a better novel. An unhelpful answer would simply list examples or one of the myriad definitions without talking about why this is important and how its helpful in the revision process.



Answer



There's a lot to like in each answer, but I want to attempt to answer this myself, both for feedback and to bring it all together into one answer.



... at the highest level, a treatment is a summary which presumes the reader wants to know all of the important pieces of a story. Everything should be spoiled. This is typically used as a document for the sales process; but if one's goal is to sell a book, being able to write a treatment for said book should be one of the benchmarks used to determine if the work is "good enough".


Elements of the story that do not find their way into the treatment are potential targets for elimination. However, many elements do not belong in a treatment by necessity. What we are looking for when cutting at this level in revision are elements that are superfluous (too much of a thing), extraneous (off topic), or inconsequential (having no meaning or desired effect).


What we are looking to change at this level are things which do not serve to construct the type of story we are looking to write. A good treatment will show a steady rise in tension until we reach the primary conflict resolution. Things which distract from that graceful arc or muddy the waters ultimately need to serve some great purpose in the work to persist unchanged.


In order to assure that rise in tension, we construct a treatment out of beats.



A beat is many things to many people and has very specific meaning in staging. But, for the purpose of a treatment, a beat is a discrete element which furthers a primary consideration in your story: It is the moments of decision, characterization, conflict, etc that are the figurative struts of your novel that change its direction or reveal consequential information to the reader. An impactful beat will be one that strongly resonates with the readers emotions. For instance, a good characterization beat will make the reader feel that that person is real. (Aka, save the cat / pet the dog)



But what it ultimately is, is an explanation. It is the act of telling instead of showing. “Showing” is an act of expansion, while telling is often an act of compression in writing. You want to strip out most of the description and facets that help describe your setting and world and make it feel real and instead boil it down to exactly what happened and why. Even better if you can tie this immediately to emotional consequence. Cause and Effect. And do it succinctly for each point.


A scene is usually made out of several of these explanatory sentences, but the beat itself is the unit of sentences that leads to critical development in the understanding of the story, characters, or conflict. The number of beats per scene should not be very high, but it will vary per chapter depending on what that is accomplishing.


A beat, in these purposes, is the smallest story in your story. Which makes them easier to write: BEGINNING! MIDDLE! END! with a heavy emphasis on compact meaningful explanation.


If you are writing a treatment for the purposes of revision, then your beats need to look a bit different than they would for a sale. One, because when you are selling your book you are talking it up; but when you are revising, you're looking for both your weaknesses and your strengths. In both cases you should be honest, but there's a difference between a blue print and a fully constructed building which hides all of the mechanical details and invites someone to come inside. When the revision process is done, the treatment shouldn't be too far off from the sale-able version, and if you're looking for something to measure it's likely that the treatment itself has become a positive advocate for your story.





There aren't many articulated approaches on this, which was the main reason I asked this question. Most people who understand beats, understand them intuitively. Ask someone who plays the violin at an expert level how you, a novice, can learn to do this and you should be prepared for a lot of well intentioned abstract ideas that won't help you progress; when what you really need is a boring step by step guide to the basics.


Step 0: Outline or Reverse Outline your work; Or, look only at a specific scene; Or, if you're not a discovery writer and you're doing this on the front end, be prepared to make things up.


Step 1: Identify points of conflict at the point you are currently working on.


Each beat is going to circle around a conflict. This is either the inciting incident for your beat, a point of raised tension, or the climax right before the resolution.



Step 2: Identify the players and figure out who the "protagonist" and "antagonist" are for this beat.


Note, this could be man vs self (internal), man vs external (nature or man), but you should know what it is. This is your opening to the beat. Explain, why each opposing/conflicting force is the way it is. Then explain how this conflict interacts. Then explain how this causes a change, either in situation or understanding. The beat is resolved when the "moment" ends with the story going in a determined direction.


This should be done in 2-5 sentence. Be concise, whatever the opposite of purple is, and most importantly forget everything you learned about show. Now it's time to simply tell the reader what's going on. No mysteries.


Step 3: Making your Beats useful


Collecting all of these beats should create a concise narrative that tell the core of your story. For purposes of revision, you may wish to have a second column or track changes comment attached to each beat that has the meta data you will find relevant for revisions. The meta data (or data about data) can be helpful when you're trying to make sure you have earned your moment or it may just be word counts so that you know where your document is dense and where it is light.


Note that the beat is the story, but it is not the details. The beat is useful by telling you what the moment accomplishes in your story, while being bereft of the explicit detail involved in making that happen. This gives you the power to keep your beat, while changing your implementation. Your beat should be an abstraction.


Step 4: Choosing Your Beats


At this point you want to take all of your tools out of your tool box that help you understand narrative structure. You may also want to apply a theoretical story framework: 3 act (google: hollywood), 7 point plot (google: Dan Wells), Scene-Sequel, etc.


All of these tools are optional and should be chosen to create the pacing and effect on the reader that you think best suites and will sell your story. You now need to identify what each beat is doing in the terms you have chosen to work with:




  1. Raises stakes

  2. Characterizes someone/something

  3. Releases tension

  4. Reveals information which changes someone's understanding

  5. Generates an emotional response in the reader


Each beat should do something that enhances your story, but that does not mean that everything you've written down at this point is actually doing that. A weak story will often have a bunch of disconnected beats that are more like a pile of bricks than a wall.


Step 5: Make choices.


Once everything is down in front of you, you seek external input or you may be able to see for yourself exactly where your weak points are. Use this as a guide to keep your story on target and potent. When a chef makes food, they cut away that which they don't need; when they make a sauce, they boil off the water. That is what this process is about: finding your flavor and intensifying it by removing the bits that are in the way.


You have only a few choices to make at a macro level, though they'll have infinite variation once you get down into micro:



The continuum of possible revisions:


Compression/Refactorization



  • Remove a beat that's not doing important work

  • Merge multiple beats into a single more effective beat

  • Minimize a beat that's not important, and is simply too "heavy"


Performance/Verification



  • Leave a beat the way it is if it's working


  • Re-order beats to enhance their performance


Development/Expansion



  • Alter a beat so that it serves a more specific purpose

  • Add in beats that are missing to strengthen the story

  • Reconstruct a series of beats to hit a specific target


Step 6: Apply to Manuscript


Either write your manuscript, or if revising as I am, remove anything that correlates to beats that should have been removed. Re-order your information and connective tissue to serve your treatment. Write what is missing. Identify the information that wasn't part of a beat, and if it doesn't serve your narrative goals, remove it.






At this point it should be relatively obvious how beats help the revision process, but to state it concisely: Once you know all of the little stories that make up your story, you can make sure that all of those stories are relevant to the story you want to be telling AND the story that people want to be reading. The treatment is the map, each beat is a hash in a dashed line showing the way to your X. By writing a treatment you will have:


An understanding of your narrative strength


Once all of your beats have been listed out, you have to know what your goals are. At this point it should be relatively easy to tell what your story is about. If it’s not easy, that’s a good indicator that the beats need to be tightened up, that they don’t lead smoothly to the end.


An understanding of where you are speaking for the sake of being heard, but not developing your ideas.


If your problem is one of length, then keeping track of your word counts per beat is a really good way to figure out where you should focus your cuts. And the beat itself should help you figure out what is actually necessary in the scene, helping you get in late and out early. But, also you can tell where you are being excessively repetitive. Note, you need some repetition for things like foreshadowing, but if you do it in the same way ever time it will become repetitive for your reader; or worse, you simply won't be presenting them with novel ideas.


A map to enhance the emotional impact of your story and earn your consequences


If your problem is one of tension, then you have at your hands the entire structure of your story. So, you can figure out where you need to up the tension by raising the stakes appropriately or where you need to cut something that is throwing off the pace. On the reverse, you can also make sure that your beats are constructed in a way that makes your readers identify with your characters. This is a great way to tell if you have done the work to earn your big moments.


In "Sandersonian" words: We're going for, Surprising yet inevitable; which means your work should lay the ground work for the motivations that lead to the unexpected, but entirely believable points at which the book turns. A treatment with appropriate beats should have all of these moments and you should know where each moment is earned in your book.



An understanding of what you are good at and what you need to work on


At this point it should also be obvious where you are repeating yourself or duplicating your work; which should give you more goals for revision. If the treatment looks like a bunch of things happening instead of stacking up and developing a sequence of interesting events that compound and interact, that make you better understand your characters and their challenges, then the focus needs to be on figuring out which beats are working and trimming away the ones that don’t contribute to the story you want to tell.


Another possibility, and one I'm finding in my own work, is that my characters often do things because they "should" because external pressure and expectations have guided where I take them. But, this means they lack agency. So, I know that one of the things I need to do is work on that unique agency that makes these people feel like they are real and gives people a reason to be attached. The tell or smell for all of this is that in the beginning-middle-end my explanations for my character's movement through the conflict is often weak.



Hopefully someone else has found this answer helpful. I have learned more about this process by writing it out and combining all of your ideas and others and I have at least convinced myself this is the right thing to do during the revision/editing process. I will likely continue to work on this definition and guide as I apply this tool to my process or receive feedback. For those of you looking for a TLDR, here it is:



Beats are the smallest stories in your story, comprised of a beginning, a middle, and an end. A successful beat's climax alters the direction of the story and causes the reader to buy into the book further. Beats should be 2-5 sentences and abstract explanations of what has occurred, bereft of the the specific details that make the moments work. When combined into a very short narrative, Beats can be used to construct a treatment or summary. Once you are working with the emotional levers of your story, you can find the weak or missing points or cut the extraneous ones. At the end your manuscript will be more concise, more impactful. It will be easier to explain as well as sell.



technique - How credible is wikipedia?

I understand that this question relates more to wikipedia than it does writing but... If I was going to use wikipedia for a source for a res...