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The single unit doctrine proposes that each one of our percepts and sensations is represented by the activity of specialized high-level cells in the brain. A common criticism applied to this proposal is the one referred to as the "combinatorial problem". We are constantly confronted with unlimited combinations of elements and features, and yet we face no problem in recognizing patterns and objects present in visual scenes. Are there enough neurons in the brain to singly code for each one of our percepts? Or is it the case that perceptions are represented by the distributed activity of different neuronal ensembles? We lack a general theory capable of explaining how distributed information can be efficiently integrated into single percepts. The working hypothesis here is that distributed neuronal ensembles signal relations present in the stimulus by selectively synchronizing their spiking responses. Synchronization is generally associated with oscillatory activity in the brain. Gamma oscillations in particular have been linked to various integrative processes in the visual system. Studies in anesthetized animals have shown a conspicuous increase in power for the gamma frequency band (30 to 60 Hz) in response to visual stimuli. Recently, these observations have been extended to behavioral studies which addressed the role of gamma activity in cognitive processes demanding selective attention. The initial motivation for carrying out this work was to test if the binding-by-synchronization (BBS) hypothesis serves as a neuronal mechanism for perceptual grouping in the visual system. To this aim we used single and superimposed grating stimuli. Superimposed gratings (plaids) are bi-stable stimuli capable of eliciting different percepts depending on their physical characteristics. In this way, plaids can be perceived either as a single moving surface (pattern plaids), or as two segregated surfaces drifting in different directions (component plaids). While testing the BBS hypothesis, we performed various experiments which addressed the role of both stimulus and cortical architecture on the properties of gamma oscillations in the primary visual cortex (V1) of monkeys. Additionally, we investigated whether gamma activity could also be modulated by allocating attention in time. Finally, we report on gamma-phase shifts in area V1, and how they depend on the level of neuronal activation. ...
IT-driven trading innovations offer institutional investors alternative trading channels to broker delegated order handling. Motivated by the impact on intermediation relationships in securities trading and the adoption rate of such trading channels, the new option of self-directed order handling is analyzed. To capture the prerequisites for institutional investors to insource their order handling, an order-channel management (OCM) framework is introduced. It is based on a structural approach to account for the increasing complexity in comparison to traditional intermediary services. Drivers for the adoption of an OCM framework are investigated from the strategic perspective. Operational OCM is based on the business value of IT analysis of distinct trading innovations. It includes smart order router technology, low latency technology as an upgrade for existing IT-driven trading channels as well as negotiation dark pools, representing alternative trading venues. Evidence that all investigated IT-driven trading innovations generate additional business value is provided as one result. However, it is also shown that they exhibit entry barriers tightly related to investor size. Further, Task-Technology Fit is proven to be the major driver for the adoption decision. Consequently, IT-driven trading innovations should increase trading control, satisfy high anonymity and varying urgency demands.