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Articles by S. Mayhew
Total Records ( 2 ) for S. Mayhew
  J Stephenson , K Newman and S. Mayhew

Climate change has been described as the biggest global health threat of the 21st century. World population is projected to reach 9.1 billion by 2050, with most of this growth in developing countries. While the principal cause of climate change is high consumption in the developed countries, its impact will be greatest on people in the developing world. Climate change and population can be linked through adaptation (reducing vulnerability to the adverse effects of climate change) and, more controversially, through mitigation (reducing the greenhouse gases that cause climate change). The contribution of low-income, high-fertility countries to global carbon emissions has been negligible to date, but is increasing with the economic development that they need to reduce poverty. Rapid population growth endangers human development, provision of basic services and poverty eradication and weakens the capacity of poor communities to adapt to climate change. Significant mass migration is likely to occur in response to climate change and should be regarded as a legitimate response to the effects of climate change. Linking population dynamics with climate change is a sensitive issue, but family planning programmes that respect and protect human rights can bring a remarkable range of benefits. Population dynamics have not been integrated systematically into climate change science. The contribution of population growth, migration, urbanization, ageing and household composition to mitigation and adaptation programmes needs urgent investigation.

  J Hao , A Kalay and S. Mayhew

We examine the behavior of call options surrounding the underlying stock's ex-dividend date. The evidence is inconsistent with the predictions of a rational exercise policy; a significant fraction of the open interest remains unexercised, resulting in a windfall gain to option writers. This triggers a sophisticated trading scheme that enables short-term traders to receive a significant fraction of the gains. The trading scheme inflates reported volume and distorts its traditional relations to liquidity. The dramatic increases in the volume of trade on the last cum-dividend day are facilitated by limitations on transaction costs passed by the various option exchanges.

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