The behavior of French retail investors : issues within the MiFID directive

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Submitted on 15 Nov 2019

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The behavior of French retail investors : issues within

the MiFID directive

Hava Orkut

To cite this version:

Hava Orkut. The behavior of French retail investors : issues within the MiFID directive. Economics and Finance. Université de Strasbourg, 2018. English. �NNT : 2018STRAB010�. �tel-02366219�

UNIVERSITÉ DE STRASBOURG

ÉCOLE DOCTORALE AUGUSTIN COURNOT (ED-221)

Laboratoire de Recherche en Gestion et Économie (LaRGE)

THÈSE

présentée par :

Hava ORKUT

soutenue le : 10 décembre 2018

pour obtenir le grade de : Docteur de l'Université de Strasbourg

Discipline : Science de Gestion Spécialité : Finance

THÈSE dirigée par :

Mme BROIHANNE Marie-Hélène Professeur à l'Université de Strasbourg

RAPPORTEURS : M. POUGET Sébastien Mme D'HONDT Catherine EXAMINATEURS:

M. GAJEWSKI Jean-François M. MERLI Maxime

Mme CASTANET Claire

Professeur à l'Université de Toulouse l

Professeur à l'Université catholique de Louvain

Professeur à l'lAE Lyon

Professeur à l'Université de Strasbourg Directrice des relations avec les épargnants

à l'Autorité des Marchés Financiers

Le comportement des investisseurs individuels français :

enjeux dans le cadre de la directive MiFID

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❆

❈♦♥#❡♥#%

■♥"#♦❞✉❝"✐♦♥ ✶ ✶ ❚❤❡ ❜❡❤❛✈✐♦# ♦❢ #❡"❛✐❧ ✐♥✈❡2"♦#2 ✐♥ "❤❡ ❧✐❣❤" ♦❢ ▼✐❋■❉ ✶✸ ✶✳✶ ■♥$%♦❞✉❝$✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸ ✶✳✷ ❘❡❧❛$❡❞ ❧✐$❡%❛$✉%❡ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✺ ✶✳✷✳✶ ❚❤❡ ❞✐✈❡%5✐✜❝❛$✐♦♥ ❜✐❛5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼ ✶✳✷✳✷ ❚❤❡ ❞✐5♣♦5✐$✐♦♥ ❜✐❛5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✷✵ ✶✳✷✳✸ ❖✈❡%❝♦♥✜❞❡♥❝❡ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✷✸ ✶✳✸ ▼✐❋■❉ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✷✻ ✶✳✹ ▼✐❋■❉ A✉❡5$✐♦♥♥❛✐%❡ ❛♥❛❧②5✐5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✷✾ ✶✳✹✳✶ ◗✉❡5$✐♦♥♥❛✐%❡ ❣❡♥❡%❛❧ ♣%❡5❡♥$❛$✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✷✾ ✶✳✹✳✷ ◗✉❡5$✐♦♥♥❛✐%❡ ❞✐❛❣♥♦5$✐❝ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✷ ✶✳✹✳✷✳✶ ■♥❞✐✈✐❞✉❛❧ ❝❤❛%❛❝$❡%✐5$✐❝5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✷ ✶✳✹✳✷✳✷ ❋✐♥❛♥❝✐❛❧ 5✐$✉❛$✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✸ ✶✳✹✳✷✳✸ ■♥✈❡5$♠❡♥$ ❣♦❛❧5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✻ ✶✳✹✳✷✳✹ ❑♥♦✇❧❡❞❣❡ ❛♥❞ ❡①♣❡%✐❡♥❝❡ ♦❢ ✜♥❛♥❝✐❛❧ ♠❛%❦❡$5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✾ ✶✳✺ ❇❛♥❦✐♥❣ %❡❝♦%❞ ❛♥❛❧②5✐5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✹✷ ✶✳✺✳✶ ❙♦❝✐♦✲❞❡♠♦❣%❛♣❤✐❝ ✐♥❞✐❝❛$♦%5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✹✷ ✶✳✺✳✷ ❲❡❛❧$❤ ❛♥❞ ♣❛$%✐♠♦♥② ✐♥❞✐❝❛$♦%5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✹✸ ✶✳✻ ❉❡5❝%✐♣$✐✈❡ 5$❛$✐5$✐❝5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✹✹ ✶✳✻✳✶ ▼✐❋■❉ ✈❛%✐❛❜❧❡5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✹✺ ✶✳✻✳✷ ❇❛♥❦✐♥❣ %❡❝♦%❞ ✈❛%✐❛❜❧❡5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✹✽ ✶✳✼ ❯♥%❡♣♦%$❡❞ ❛♥5✇❡%5 ❛♥❞ ❛♥5✇❡%5 5$❛❜✐❧✐$② ❛♥❛❧②5✐5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✺✹ ✶✳✽ ❈♦♥❝❧✉5✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✻✶ ❆♣♣❡♥❞✐① ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✼✼ ✷ ▼✐❋■❉ 9✉❡2"✐♦♥♥❛✐#❡ ❛♥2✇❡#2 ❛♥❞ 2"♦❝❦ ♠❛#❦❡" ♣❛#"✐❝✐♣❛"✐♦♥ ✽✸ ✷✳✶ ■♥$%♦❞✉❝$✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✽✹ ✷✳✷ ❉❛$❛ ❛♥❞ ❞❡5❝%✐♣$✐✈❡ 5$❛$✐5$✐❝5 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✽✻ ✈✐✐✐

✷✳✷✳✶ ▼✐❋■❉ (✉❡+,✐♦♥♥❛✐0❡ ❛♥+✇❡0+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✾✵ ✷✳✷✳✷ ❇❛♥❦✐♥❣ 0❡❝♦0❞+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✾✶ ✷✳✸ ❊♠♣✐0✐❝❛❧ 0❡+✉❧,+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✾✺ ✷✳✹ ❘♦❜✉+,♥❡++ ❝❤❡❝❦+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✾✾ ✷✳✺ ❈♦♥❝❧✉+✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✵✹ ❆♣♣❡♥❞✐① ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✶✻ ✸ ■♥✈❡%&♠❡♥& ❣♦❛❧% ❛♥❞ ♠❡♥&❛❧ ❛❝❝♦✉♥&✐♥❣ ✐♥ ❋1❡♥❝❤ 1❡&❛✐❧ ❝❧✐❡♥&% ✶✷✺ ✸✳✶ ■♥,0♦❞✉❝,✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✷✻ ✸✳✷ ❘❡❧❛,❡❞ ❧✐,❡0❛,✉0❡ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✷✼ ✸✳✸ ❉❛,❛ ❞❡+❝0✐♣,✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✵ ✸✳✸✳✶ ■♥✈❡+,♠❡♥, ❣♦❛❧+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✶ ✸✳✸✳✷ ❇❛♥❦✐♥❣ 0❡❝♦0❞+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✷ ✸✳✹ ❆♥❛❧②+✐+ ♦❢ ♠❡♥,❛❧ ❣♦❛❧+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✼ ✸✳✹✳✶ ❘❡,❛✐❧ ❝❧✐❡♥, ♠❡♥,❛❧ ❣♦❛❧+ ,②♣♦❧♦❣② ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✼ ✸✳✹✳✷ ❘❡,❛✐❧ ❝❧✐❡♥, ♠❡♥,❛❧ ❣♦❛❧+ ,②♣♦❧♦❣②✬+ ❞❡+❝0✐♣,✐✈❡ +,❛,✐+,✐❝+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✾ ✸✳✹✳✸ ■♥✈❡+,♠❡♥, ❣♦❛❧+ ❛♥❞ ✐♥❝♦♠❡ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✾ ✸✳✺ ■♥✈❡+,♠❡♥, ❞❡❝✐+✐♦♥+ ❛♥❞ ♠❡♥,❛❧ ❣♦❛❧+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✹✵ ✸✳✺✳✶ ❚❤❡ ❞❡,❡0♠✐♥❛♥,+ ♦❢ ,❤❡ ♥✉♠❜❡0 ♦❢ ✐♥✈❡+,♠❡♥, ❣♦❛❧+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✹✵ ✸✳✺✳✷ ❚❤❡ ✐♠♣❛❝, ♦❢ ♠❡♥,❛❧ ❣♦❛❧+ ♦♥ ✐♥✈❡+,♠❡♥, ❞❡❝✐+✐♦♥+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✹✷ ✸✳✻ ❘♦❜✉+,♥❡++ ❝❤❡❝❦+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✹✼ ✸✳✼ ❈♦♥❝❧✉+✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✺✵ ✹ ❋♦1❡✐❣♥ %&♦❝❦ ✐♥✈❡%&♠❡♥& ❛♥❞ %♦♣❤✐%&✐❝❛&✐♦♥ ♦❢ ❋1❡♥❝❤ 1❡&❛✐❧ ✐♥✈❡%&♦1% ✶✺✼ ✹✳✶ ■♥,0♦❞✉❝,✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✺✽ ✹✳✷ ❘❡❧❛,❡❞ ❧✐,❡0❛,✉0❡ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✻✶ ✹✳✸ ❉❛,❛ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✻✺ ✹✳✸✳✶ ❇❛♥❦✐♥❣ 0❡❝♦0❞+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✻✼ ✹✳✸✳✷ ▼✐❋■❉ (✉❡+,✐♦♥♥❛✐0❡ ❛♥+✇❡0+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✻✽ ✹✳✸✳✸ ❋♦0❡✐❣♥ +,♦❝❦ ✐♥✈❡+,♠❡♥, ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✵ ✹✳✹ ▼❡,❤♦❞♦❧♦❣② ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✶ ✹✳✹✳✶ ❚❤❡ ♠❛,❝❤✐♥❣ ♣0♦❝❡++ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✶ ✹✳✹✳✷ ❉✐❛❣♥♦+,✐❝ ♦❢ ,❤❡ ♠❛,❝❤✐♥❣ (✉❛❧✐,② ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✸ ✹✳✺ N♦0,❢♦❧✐♦ ❞✐✈❡0+✐✜❝❛,✐♦♥ ❛♥❞ +✉❜❥❡❝,✐✈❡ ❛,,0✐❜✉,❡+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✺ ✹✳✺✳✶ N♦0,❢♦❧✐♦ ❞✐✈❡0+✐✜❝❛,✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✺ ✹✳✺✳✶✳✶ ●❧♦❜❛❧ ♣♦0,❢♦❧✐♦ ❞✐✈❡0+✐✜❝❛,✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✺ ✹✳✺✳✶✳✷ ❋♦0❡✐❣♥ ♣♦0,❢♦❧✐♦ ❞✐✈❡0+✐✜❝❛,✐♦♥✿ ❤♦♠❡ ❜✐❛+ ❛♥❞ ❢❛♠✐❧✐❛0✐,② ❜✐❛+ ✳ ✳ ✳ ✳ ✶✼✾ ✐①

✹✳✺✳✷ ❙✉❜❥❡❝*✐✈❡ ❛**.✐❜✉*❡/ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✽✶ ✹✳✻ ❆❞❞✐*✐♦♥❛❧ .❡/✉❧*/✿ *❤❡ ❞❡*❡.♠✐♥❛♥*/ ♦❢ *❤❡ ❤♦♠❡ ❜✐❛/ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✽✷ ✹✳✼ ❈♦♥❝❧✉/✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✽✻ ❈♦♥❝❧✉&✐♦♥ ❛♥❞ ❧✐♠✐+❛+✐♦♥& ✶✾✼ ❘0&✉♠0 ❞❡ +❤3&❡ ✷✵✸ ①

❆

▲✐"# ♦❢ ❚❛❜❧❡"

✶✳✸✳✶ ▼✐❋■❉ ♣)❡+❝)✐♣-✐♦♥+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✷✼ ✶✳✹✳✶ ❘❡-❛✐❧ ❝❧✐❡♥-+✬ ♥✉♠❜❡) ❞❡♣❡♥❞✐♥❣ ♦♥ -❤❡ =✉❡+-✐♦♥♥❛✐)❡ ❛❞♠✐♥✐+-)❛-✐♦♥ ②❡❛) ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✶ ✶✳✹✳✷ ◆❡- ♠♦♥-❤❧② ✐♥❝♦♠❡ ✭✐♥ ❡✉)♦+✮ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✸ ✶✳✹✳✸ ❘❡❛❧ ❡+-❛-❡ ♣❛-)✐♠♦♥② ❡+-✐♠❛-✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✹ ✶✳✹✳✹ ❋✐♥❛♥❝✐❛❧ ❛++❡- ❡+-✐♠❛-✐♦♥+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✺ ✶✳✹✳✺ ❇❛♥❦ ❧♦❛♥ ❛♠♦✉♥- ❡+-✐♠❛-✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✻ ✶✳✹✳✻ ▼❛✐♥ ✐♥✈❡+-♠❡♥- ❣♦❛❧+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✼ ✶✳✹✳✼ ❘✐+❦ -♦❧❡)❛♥❝❡ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✼ ✶✳✹✳✽ ❆--✐-✉❞❡+ -♦✇❛)❞+ ❧♦++❡+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✸✽ ✶✳✹✳✾ ❋✐♥❛♥❝✐❛❧ ❡①♣❡)✐❡♥❝❡ ❛♥❞ ❦♥♦✇❧❡❞❣❡ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✹✵ ✶✳✻✳✶ ▼✐❋■❉ ✈❛)✐❛❜❧❡ ❞❡✜♥✐-✐♦♥+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✹✼ ✶✳✻✳✷ ❉❡+❝)✐♣-✐✈❡ +-❛-✐+-✐❝+ ♦❢ ▼✐❋■❉ ✈❛)✐❛❜❧❡+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✹✽ ✶✳✻✳✸ ❇❛♥❦✐♥❣ )❡❝♦)❞ ✈❛)✐❛❜❧❡ ❞❡✜♥✐-✐♦♥+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✺✷ ✶✳✻✳✹ ❉❡+❝)✐♣-✐✈❡ +-❛-✐+-✐❝+ ♦❢ ❜❛♥❦✐♥❣ )❡❝♦)❞ ✈❛)✐❛❜❧❡+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✺✸ ✶✳✼✳✶ ◗✉❡+-✐♦♥♥❛✐)❡ ❛♥+✇❡)+ ❢♦) ✐♥✈❡+-♠❡♥- ❣♦❛❧+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✺✺ ✶✳✼✳✷ ◗✉❡+-✐♦♥♥❛✐)❡ ❛♥+✇❡)+ ❢♦) )✐+❦ -♦❧❡)❛♥❝❡ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✺✻ ✶✳✼✳✸ ◗✉❡+-✐♦♥♥❛✐)❡ ❛♥+✇❡)+ ❢♦) ❛--✐-✉❞❡+ -♦✇❛)❞+ ❧♦++❡+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✺✼ ✶✳✼✳✹ ◗✉❡+-✐♦♥♥❛✐)❡ ❛♥+✇❡)+ ❢♦) ✜♥❛♥❝✐❛❧ ❧✐-❡)❛❝② ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✺✾ ✶✳✼✳✺ ◗✉❡+-✐♦♥♥❛✐)❡ ❛♥+✇❡)+ ❢♦) ♥❡- ♠♦♥-❤❧② ✐♥❝♦♠❡ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✻✵ ✶✳✼✳✻ ◗✉❡+-✐♦♥♥❛✐)❡ ❛♥+✇❡)+ ❢♦) ❜❛♥❦ ❧♦❛♥ ❛♠♦✉♥- ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✻✶ ✶✳✽✳✶ ❙✉♠♠❛)② ♦❢ ✈❛)✐❛❜❧❡+ ✉♥❞❡) +-✉❞② ✐♥-♦ ❝❤❛♣-❡)+ ✷✱ ✸ ❛♥❞ ✹ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✻✸ ✷✳✷✳✶ ❱❛)✐❛❜❧❡ ❞❡✜♥✐-✐♦♥+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✽✽ ✷✳✷✳✷ ❉❡+❝)✐♣-✐✈❡ +-❛-✐+-✐❝+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✽✾ ✷✳✸✳✶ ❙-♦❝❦ ♠❛)❦❡- ♣❛)-✐❝✐♣❛-✐♦♥ ❞❡-❡)♠✐♥❛♥-+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✾✼ ✷✳✹✳✶ ❘❈✶ ❛♥❞ ❘❈✷ )❡+✉❧-+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✵✶ ✷✳✹✳✷ ❘❈✸ )❡+✉❧-+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✵✷ ✷✳✺✳✶ T❤✐ ❝♦❡✣❝✐❡♥-+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✶✼ ✷✳✺✳✷ ❈)❛♠❡)✬+ ❱ ❝♦❡✣❝✐❡♥-+ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✶✼ ①✐✐

✷✳✺✳✸ $♦✐♥( ❜✐*❡,✐❛❧ ❝♦,,❡❧❛(✐♦♥ ❝♦❡✣❝✐❡♥(* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✶✽ ✷✳✺✳✹ ❙♣❡❛,♠❛♥ ,❛♥❦ ❝♦,,❡❧❛(✐♦♥ ❝♦❡✣❝✐❡♥(* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✶✽ ✷✳✺✳✺ ❱❛,✐❛♥❝❡ ■♥✢❛(✐♦♥ ❋❛❝(♦, ✭❱■❋✮ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✷✵ ✷✳✺✳✻ ●♦♦❞♥❡**✲♦❢✲✜( ♠❡❛*✉,❡* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✷✶ ✸✳✸✳✶ ■♥✈❡*(♠❡♥( ❣♦❛❧* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✶ ✸✳✸✳✷ ❉❡*❝,✐♣(✐✈❡ *(❛(✐*(✐❝* ♦❢ ✐♥✈❡*(♠❡♥( ❣♦❛❧* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✷ ✸✳✸✳✸ ❇❛♥❦✐♥❣ ,❡❝♦,❞* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✹ ✸✳✸✳✹ ❉❡*❝,✐♣(✐✈❡ *(❛(✐*(✐❝* ♦❢ ❜❛♥❦✐♥❣ ,❡❝♦,❞* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✸✼ ✸✳✹✳✶ ■♥❝♦♠❡ ❛♥❛❧②*✐* ,❡❣❛,❞✐♥❣ (❤❡ ♥✉♠❜❡, ♦❢ ✐♥✈❡*(♠❡♥( ❣♦❛❧* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✹✵ ✸✳✺✳✶ ❚❤❡ ❞❡(❡,♠✐♥❛♥(* ♦❢ (❤❡ ♥✉♠❜❡, ♦❢ ✐♥✈❡*(♠❡♥( ❣♦❛❧* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✹✷ ✸✳✺✳✷ ❙❛✈✐♥❣* ❛❝❝♦✉♥( ✐♥✈❡*(♠❡♥( ❞❡❝✐*✐♦♥* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✹✺ ✸✳✺✳✸ ❋✐♥❛♥❝✐❛❧ ♣,♦❞✉❝( ✐♥✈❡*(♠❡♥( ❞❡❝✐*✐♦♥* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✹✻ ✸✳✻✳✶ ❘♦❜✉*(♥❡** ❝❤❡❝❦* ,❡*✉❧(* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✹✾ ✹✳✸✳✶ ❉❡✜♥✐(✐♦♥ ♦❢ ✈❛,✐❛❜❧❡* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✻✻ ✹✳✸✳✷ ❉❡*❝,✐♣(✐✈❡ *(❛(✐*(✐❝* ♦❢ ❜❛♥❦✐♥❣ ,❡❝♦,❞* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✻✽ ✹✳✸✳✸ ❉❡*❝,✐♣(✐✈❡ *(❛(✐*(✐❝* ♦❢ ▼✐❋■❉ Q✉❡*(✐♦♥♥❛✐,❡ ❛♥*✇❡,* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✻✾ ✹✳✸✳✹ ❇❛♥❦✐♥❣ ,❡❝♦,❞* ❝♦♠♣❛,✐*♦♥ ❜❡(✇❡❡♥ ❋✲ ❛♥❞ ❉✲✐♥✈❡*(♦,* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✶ ✹✳✹✳✶ ❚❤❡ ❞❡(❡,♠✐♥❛♥(* ♦❢ (❤❡ ❢♦,❡✐❣♥ *(♦❝❦ ✐♥✈❡*(♠❡♥( ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✸ ✹✳✺✳✶ ●❧♦❜❛❧ ♣♦,(❢♦❧✐♦ ❞✐✈❡,*✐✜❝❛(✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✽ ✹✳✺✳✷ ❋♦,❡✐❣♥ ♣♦,(❢♦❧✐♦ ❞✐✈❡,*✐✜❝❛(✐♦♥ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✽✵ ✹✳✺✳✸ ❉❡*❝,✐♣(✐✈❡ *(❛(✐*(✐❝* ♦❢ (❤❡ ▼✐❋■❉ Q✉❡*(✐♦♥♥❛✐,❡ ❛♥*✇❡,* ❛❢(❡, (❤❡ ♠❛(❝❤✐♥❣ ✳ ✳ ✳ ✳ ✳ ✳ ✶✽✷ ✹✳✻✳✶ ❚❤❡ ❞❡(❡,♠✐♥❛♥(* ♦❢ (❤❡ ❤♦♠❡ ❜✐❛* ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✽✺ ①✐✐✐

▲✐"# ♦❢ ❋✐❣✉)❡"

✷✳✺✳✶ ❘❖❈ ❛♥❞ ❆❯❈ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✷✸ ✹✳✹✳✶ ❙❝❛00❡2 ♣❧♦06 ♦❢ 0❤❡ ❙▼❉ ✈6 0❤❡ ✈❛2✐❛♥❝❡ 2❛0✐♦6 ❜❡❢♦2❡ ❛♥❞ ❛❢0❡2 0❤❡ ♠❛0❝❤✐♥❣ ✳ ✳ ✳ ✳ ✳ ✶✼✹ ✹✳✹✳✷ ❍✐60♦❣2❛♠ ♦❢ 0❤❡ ♣2♦♣❡♥6✐0② 6❝♦2❡6 ❜② 02❡❛0♠❡♥0 60❛0✉6 ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✳ ✶✼✹

❆

■♥"#♦❞✉❝"✐♦♥

■♥ ♥♦✇❛❞❛②' ✜♥❛♥❝❡ +❡'❡❛+❝❤✱ ❛ ❣+♦✇✐♥❣ ✐♥0❡+❡'0 ✐' ❞❡✈♦0❡❞ 0♦ +❡0❛✐❧ ✐♥✈❡'0♦+' ❜❡❝❛✉'❡ 0❤❡② ♠❛❦❡ ✐♥✈❡'0♠❡♥0 ♠✐'0❛❦❡' ✇❤✐❝❤ ❛+❡ ❤❛+❞❧② ✐♥ ❧✐♥❡ ✇✐0❤ ✇❤❛0 '0❛♥❞❛+❞ ✜♥❛♥❝✐❛❧ 0❤❡♦+② ♣+❡❞✐❝0' ✭❙❤❛+♣❡✱ ✶✾✻✹✱ ▲✐♥0♥❡+✱ ✶✾✻✺ ❛♥❞ ▼♦''✐♥✱ ✶✾✻✻✮✳ ■♥✈❡'0♠❡♥0 ✐♥✈♦❧✈❡' ♠❛❦✐♥❣ ❞❡❝✐'✐♦♥' ✉♥❞❡+ ✉♥❝❡+0❛✐♥0②✱ ✇❤✐❝❤ ✐' ❛ ❝♦♠♣❧❡① 0❛'❦✳ ❚♦ ❡❛'❡ 0❤✐' ❞❡❝✐'✐♦♥✲♠❛❦✐♥❣ ♣+♦❝❡''✱ +❡0❛✐❧ ✐♥✈❡'0♦+' ♦♣❡+❛0❡ '♦♠❡ ♠❡♥0❛❧ '❤♦+0❝✉0'✱ ♦+ ❤❡✉+✐'0✐❝'✱ ❧❡❛❞✐♥❣ 0♦ ✐♥✈❡'0♠❡♥0 ♠✐'0❛❦❡' ✇❤✐❝❤ +❡'✉❧0 ✐♥ ♣♦♦+ ♣❡+❢♦+♠❛♥❝❡ ❛♥❞ ❡①❝❡''✐✈❡ +✐'❦✲ 0❛❦✐♥❣✳ ❚❤❡ ❜❡❤❛✈✐♦+❛❧ ✜♥❛♥❝❡ ❧✐0❡+❛0✉+❡ ❛00❡♠♣0' 0♦ ❤✐❣❤❧✐❣❤0 0❤❡'❡ ♠✐'0❛❦❡' ❛♥❞ '❤♦✇' 0❤❛0 0❤❡② ❝❛♥ ❜❡ ❡①♣❧❛✐♥❡❞ ❜② ❜❡❤❛✈✐♦+❛❧ ❜✐❛'❡' 0♦ ✇❤✐❝❤ +❡0❛✐❧ ✐♥✈❡'0♦+' ❛+❡ '✉❜❥❡❝0✳ ❙♦♠❡ ❜❡❤❛✈✐♦+❛❧ ❜✐❛'❡' ✇❡+❡ ✐❞❡♥0✐✜❡❞ ❡♠♣✐+✐❝❛❧❧② ❛♥❞✴♦+ ❡①♣❡+✐♠❡♥0❛❧❧② ❛❧❧ ❛+♦✉♥❞ 0❤❡ ✇♦+❧❞✳ ❋♦+ ✐♥'0❛♥❝❡✱ +❡0❛✐❧ ✐♥✈❡'0♦+' ❢❛✐❧ 0♦ ❞✐✈❡+'✐❢② 0❤❡✐+ ♣♦+0❢♦❧✐♦' ❛♥❞ 0❤❡♥✱ 0♦ +❡❞✉❝❡ 0❤❡ ✐♠♣❛❝0 ♦❢ 0❤❡ '♣❡❝✐✜❝ +✐'❦ ♦♥ 0❤❡✐+ ✐♥✈❡'0♠❡♥0 ❡①♣❡❝0❡❞ ♣❡+❢♦+♠❛♥❝❡ ✭❡✳❣✳ ✐♥ 0❤❡ ❯❙ ✭●♦❡0③♠❛♥♥ ❛♥❞ ❑✉♠❛+✱ ✷✵✵✽✮✱ ❋+❛♥❝❡ ✭❇+♦✐❤❛♥♥❡ ❡0 ❛❧✳✱ ✷✵✶✻✮ ❛♥❞ ❈❤✐♥❛ ✭❋❡♥❣ ❛♥❞ ❙❡❛'❤♦❧❡'✱ ✷✵✵✽✮✮✳ ❚❤❡② ❛+❡ +❡❧✉❝0❛♥0 0♦ '❡❧❧ 0❤❡✐+ ❛''❡0' 0❤❛0 ✐♥❝✉+ '♦♠❡ ❧♦''❡'✱ ✇❤✐❝❤ +❡'✉❧0 ✐♥ ♣♦♦+ ♣❡+❢♦+♠❛♥❝❡ ❛' 0❤❡ ✈❛❧✉❡ ♦❢ ❧♦♦'❡+' ❝♦♥0✐♥✉❡' 0♦ ❞❡❝+❡❛'❡ ✭❡✳❣✳ ✐♥ 0❤❡ ❯❙ ✭❙❤❡❢+✐♥ ❛♥❞ ❙0❛0♠❛♥✱ ✶✾✽✺✮✱ ❇❡❧❣✐✉♠ ✭❇❡❧❧♦❢❛00♦ ❡0 ❛❧✳✱ ✷✵✶✽✮ ❛♥❞ ❆✉'0+❛❧✐❛ ✭❋+✐♥♦ ❡0 ❛❧✳✱ ✷✵✶✺✮✮✳ ❋✐♥❛❧❧②✱ +❡0❛✐❧ ✐♥✈❡'0♦+' 0+❛❞❡ 0♦♦ ♠✉❝❤ ❜❡❝❛✉'❡ 0❤❡② ❛+❡ ♦✈❡+❝♦♥✜❞❡♥0 ❛♥❞ 0❤✐' ❛❧'♦ ❞❡0❡+✐♦+❛0❡' 0❤❡✐+ ♣♦+0❢♦❧✐♦✬' ♣❡+❢♦+♠❛♥❝❡ ✭❡✳❣✳ ✐♥ 0❤❡ ❯❙ ✭❖❞❡❛♥✱ ✶✾✾✾✮✱ 0❤❡ ❯❑ ✭▼❡+❦❧❡✱ ✷✵✶✼✮ ❛♥❞ ❚✉+❦❡② ✭❚❡❦W❡ ❛♥❞ ❨✙❧♠❛③✱ ✷✵✶✺✮✮✳ ❆❧0❤♦✉❣❤ 0❤❡'❡ ❜❡❤❛✈✐♦+❛❧ ❜✐❛'❡' ❛+❡ ✇❡❧❧✲❦♥♦✇♥✱ 0❤❡② ❛+❡ '0✐❧❧ ❡①❤✐❜✐0❡❞ ❜② +❡0❛✐❧ ✐♥✈❡'0♦+'✳ ❚❤❡+❡❢♦+❡✱ ✉♥❞❡+'0❛♥❞✐♥❣ ❡① ❛♥$❡ ✇❤❛0 ❞+✐✈❡ +❡0❛✐❧ ✐♥✈❡'0♦+'✬ ❞❡❝✐'✐♦♥' ✐' ❡''❡♥0✐❛❧✳ ❆❝❝♦+❞✐♥❣ 0♦ 0❤❡ ❧✐0❡+❛0✉+❡✱ 0❤❡ ♠❛✐♥ ❞❡0❡+♠✐♥❛♥0' ♦❢ ✐♥❞✐✈✐❞✉❛❧ ✐♥✈❡'0♠❡♥0 ❜❡❤❛✈✐♦+ ❛+❡ '♦❝✐♦✲ ❞❡♠♦❣+❛♣❤✐❝' ✭❡✳❣✳ ❣❡♥❞❡+ ✭❇❛+❜❡+ ❛♥❞ ❖❞❡❛♥✱ ✷✵✵✶✮✱ ❛❣❡ ✭❑♦+♥✐♦0✐' ❛♥❞ ❑✉♠❛+✱ ✷✵✶✶✮✮ ❛♥❞ ✇❡❛❧0❤ ✐♥❞✐❝❛0♦+' ✭❡✳❣✳ ✐♥❝♦♠❡ ✭❙❤✉♠ ❛♥❞ ❋❛✐❣✱ ✷✵✵✻✮✱ ❜❛♥❦ ❧♦❛♥' ✭❈❛+❞❛❦ ❛♥❞ ❲✐❧❦✐♥'✱ ✷✵✵✾✮ ❛♥❞ ♣♦+0❢♦❧✐♦ ✈❛❧✉❡ ✭❇❛✉❡+ ❡0 ❛❧✳✱ ✷✵✵✾✮✮✳ ❊❧✐❝✐0❛0❡❞ 0❤+♦✉❣❤ '✉+✈❡②'✱ '♦♠❡ ✐♥❞✐✈✐❞✉❛❧ ♣'②❝❤♦❧♦❣✐❝❛❧ ❝❤❛+❛❝0❡+✐'0✐❝' ❛+❡ ❛❧'♦ '❤♦✇♥ 0♦ ❞+✐✈❡ ✐♥✈❡'0♠❡♥0 ❜❡❤❛✈✐♦+✱ '✉❝❤ ❛' +✐'❦ 0♦❧❡+❛♥❝❡ ✭❍♦✛♠❛♥♥ ❡0 ❛❧✳✱ ✷✵✶✺✮✱ ❧♦'' ❛✈❡+'✐♦♥ ✭❉✐♠♠♦❝❦ ❛♥❞ ❑♦✉✇❡♥❜❡+❣✱ ✷✵✶✵✮ ❛♥❞ ✜♥❛♥❝✐❛❧ ❧✐0❡+❛❝② ✭✈❛♥ ❘♦♦✐❥ ❡0 ❛❧✳✱ ✷✵✶✶✮✳ ❚❤❡ '0✉❞② ♦❢ +❡0❛✐❧ ✐♥✈❡'0♦+' ♠❛❦❡' 0❤❡♥ ♥❡❝❡''❛+② 0♦ ❝♦♥0+♦❧ ❢♦+ 0❤✐' ✈❛+✐❡0② ♦❢ ✐♥❞✐✈✐❞✉❛❧ ❝❤❛+❛❝0❡+✐'0✐❝' 0♦ ♣+♦✈✐❞❡ ♠♦+❡ +❡❧❡✈❛♥0 ✐♥'✐❣❤0' ✐♥0♦ 0❤❡✐+ ✐♥✈❡'0♠❡♥0 ❜❡❤❛✈✐♦+ ✭❉♦+♥ ❛♥❞ ❍✉❜❡+♠❛♥✱ ✷✵✵✺✱ ❉♦+♥ ❛♥❞ ❙❡♥❣♠✉❡❧❧❡+✱ ✷✵✵✾✱ ❍♦✛♠❛♥♥ ❡0 ❛❧✳✱ ✷✵✶✸ ❛♥❞ ❇✐❛♥❝❤✐ ❛♥❞ ❚❛❧❧♦♥✱ ✷✵✶✽✮✳ ❆❧0❤♦✉❣❤ +❡0❛✐❧ ✐♥✈❡'0♦+'✬ ✜♥❛♥❝✐❛❧ ❜❡❤❛✈✐♦+ ✐' ✇❡❧❧✲❞♦❝✉♠❡♥0❡❞ ✐♥ 0❤❡ ❜❡❤❛✈✐♦+❛❧ ✜♥❛♥❝❡ ❧✐0❡+❛0✉+❡✱ ✶

❛♥ ❡①$❡♥%✐♦♥ ♦❢ $❤❡ ❛♥❛❧②%✐% ♦❢ ❡"❛✐❧ ✐♥✈❡("♦ ( $♦ $❤❡ ♦♥❡ ♦❢ ❜❛♥❦ ❡"❛✐❧ ❝❧✐❡♥"( ✇♦✉❧❞ ❞❡♣✐❝$ ❛ ♠♦2❡ ❝♦♠♣2❡❤❡♥%✐✈❡ ♣✐❝$✉2❡ ♦♥ ✐♥✈❡%$♠❡♥$ ❜❡❤❛✈✐♦2% ❛♥❞ ❜❡ ❡①❡♠♣$ ♦❢ ❛♥② %❡❧❡❝$✐♦♥ ❜✐❛%✳ ❋♦2 ❡①❛♠♣❧❡✱ ❝♦♥%✐❞❡2✐♥❣ 2❡$❛✐❧ ❝❧✐❡♥$% ✇♦✉❧❞ ❡♥❛❜❧❡ $♦ ❛❝❝✉2❛$❡❧② ✐❞❡♥$✐❢② $❤❡ ❞❡$❡2♠✐♥❛♥$% ♦❢ %❛✈✐♥❣% ❞❡❝✐%✐♦♥%✱ %✉❝❤ ❛% ♦♣$✐♥❣ ❢♦2 2❡❣✉❧❛$❡❞ %❛✈✐♥❣% ❛❝❝♦✉♥$% ❛♥❞✴♦2 ❤♦♠❡ %❛✈✐♥❣% ♣❧❛♥% ❢♦2 ❡①❛♠♣❧❡✱ ❛♥❞ ♥♦$ ♦♥❧② $❤♦%❡ ♦❢ ✜♥❛♥❝✐❛❧ ♣2♦❞✉❝$ ✐♥✈❡%$♠❡♥$ ❞❡❝✐%✐♦♥%✱ ✐♥ %$♦❝❦%✱ ❜♦♥❞%✱ ✉♥✐$✲❧✐♥❦❡❞ ❧✐❢❡ ✐♥%✉2❛♥❝❡ ♣2♦❞✉❝$%✱ ❡$❝✳ ❙✉❝❤ ❛♥ ❛♥❛❧②%✐% ✇♦✉❧❞ ❜❡ ❡①❡♠♣$ ♦❢ ❛♥② %❡❧❡❝$✐♦♥ ❜✐❛% ❛% ✐$ ✇♦✉❧❞ ❜❡ 2❡♣2❡%❡♥$❛$✐✈❡ ♦❢ $❤❡ ✇❤♦❧❡ ♣♦♣✉❧❛$✐♦♥ ❛♠♦♥❣ ✇❤✐❝❤ %♦♠❡ ✐♥❞✐✈✐❞✉❛❧% ❛2❡ ✐♥✈❡%$♦2%✳ ❊①❛♠✐♥✐♥❣ 2❡$❛✐❧ ❝❧✐❡♥$%✬ ✐♥✈❡%$♠❡♥$ ❞❡❝✐%✐♦♥% ✐% $❤❡2❡❢♦2❡ ❡①♣❡❝$❡❞ $♦ ❤❡❧♣ ❝❧❛2✐❢②✐♥❣ $❤❡✐2 2♦❧❡ ❛♥❞ $❤✉% $♦ ❛❞❞2❡%% $❤✐% ❣❛♣ ✐♥ $❤❡ ❧✐$❡2❛$✉2❡✳ ❆%✐❞❡ ❢2♦♠ ✐♥✈❡%$♠❡♥$ ❞❡❝✐%✐♦♥%✱ ✐$ ✇♦✉❧❞ ❜❡ ❤❡❧♣❢✉❧ $♦ ❤✐❣❤❧✐❣❤$ ✇❤✐❝❤ ✐♥✈❡%$♠❡♥$ ✈❡❤✐❝❧❡✭%✮ ✐% ✭❛2❡✮ $❤❡ ♠♦%$ ❛♣♣2♦♣2✐❛$❡ $♦ ✐♥❞✐✈✐❞✉❛❧% ❞❡♣❡♥❞✐♥❣ ♦♥ $❤❡✐2 2✐%❦ ♣2♦✜❧❡ ❛♥❞ ✜♥❛♥❝✐❛❧ ❦♥♦✇❧❡❞❣❡✳ ■♥ $❤✐% 2❡%♣❡❝$✱ $❤❡ ▼❛2❦❡$% ✐♥ ❋✐♥❛♥❝✐❛❧ ■♥%$2✉♠❡♥$ ❉✐2❡❝$✐✈❡ ■■ ✭✷✵✶✹✴✻✺✴❯❊✮ ♦2 ▼✐❋■❉ ■■✱ ✇❤✐❝❤ ✇❛% ✐♠♣❧❡♠❡♥$❡❞ ✐♥ ❏❛♥✉❛2② ✷✵✶✽✶_{✱ ❝♦✉❧❞ ♣❧❛② ❛ ♠❛❥♦2 2♦❧❡ ✐♥ ✐♠♣2♦✈✐♥❣ 2❡$❛✐❧ ✐♥✈❡%$♦2%✬ ✜♥❛♥❝✐❛❧} ❦♥♦✇❧❡❞❣❡ ❛♥❞ ✐♥ ❞❡$❡2♠✐♥✐♥❣ $❤❡✐2 2✐%❦ ♣2♦✜❧❡✳ ❆❝$✉❛❧❧②✱ ▼✐❋■❉ ■■ ❛✐♠% $♦ 2❡✐♥❢♦2❝❡ $❤❡ ♣2♦$❡❝$✐♦♥ ♦❢ 2❡$❛✐❧ ✐♥✈❡%$♦2% ❞❡♣❡♥❞✐♥❣ ♦♥ $❤❡✐2 ✜♥❛♥❝✐❛❧ ❦♥♦✇❧❡❞❣❡ ❜② 2❡P✉✐2✐♥❣ ✐♥✈❡%$♠❡♥$ %❡2✈✐❝❡ ♣2♦✈✐❞❡2% $♦ ❛❞♠✐♥✐%$❡2 ❛ P✉❡%$✐♦♥♥❛✐2❡✱ $❤❡ ▼✐❋■❉ 1✉❡("✐♦♥♥❛✐ ❡✱ $♦ $❤❡✐2 ❝❧✐❡♥$% ✐♥ ♦2❞❡2 $♦ ❣❛$❤❡2 ❛ ❞❡$❛✐❧❡❞ %❡$ ♦❢ ✐♥❢♦2♠❛$✐♦♥ ♦♥ $❤❡♠✳ ❚❤❡ ❣♦❛❧ ♦❢ $❤❡ ❉✐2❡❝$✐✈❡ ✐% $❤❛$✱ ♣2♦✈✐❞❡❞ ✇✐$❤ $❤❡%❡ ❞❛$❛✱ ✜♥❛♥❝✐❛❧ ❛❞✈✐%♦2% ✇✐❧❧ ❡%$❛❜❧✐%❤ $❤❡ 2✐%❦ ♣2♦✜❧❡ ♦❢ $❤❡✐2 ❝❧✐❡♥$% ❛♥❞ ♣2♦✈✐❞❡ $❤❡♠ %❡2✈✐❝❡% $❤❛$ ❛2❡ %✉✐$❡❞ $♦ $❤❡✐2 ✜♥❛♥❝✐❛❧ %✐$✉❛$✐♦♥✳ ❚❤❡ ♣✉2♣♦%❡ ♦❢ $❤✐% ❞✐%%❡2$❛$✐♦♥ ✐% $♦ ❞2❛✇ ❛♥ ❛❝❝✉2❛$❡ ♣✐❝$✉2❡ ♦❢ $❤❡ ❜❡❤❛✈✐♦2 ♦❢ ❋2❡♥❝❤ 2❡✲ $❛✐❧ ❝❧✐❡♥$%✴✐♥✈❡%$♦2% ✐♥ ✜♥❛♥❝✐❛❧ ♠❛2❦❡$% ❜② 2❡❝♦♥❝✐❧✐♥❣ $❤❡ ❛❝❛❞❡♠✐❝ ❧✐$❡2❛$✉2❡ ✇✐$❤ ♣♦❧✐❝② ❞❡❝✐%✐♦♥✲ ♠❛❦✐♥❣✳ ❖✉2 2❡%❡❛2❝❤ ✇♦2❦ ❢♦❝✉%❡% ♦♥ $❤2❡❡ ♠❛✐♥ ❞✐2❡❝$✐♦♥%✳ ❋✐2%$✱ ✇❡ ✐❞❡♥$✐❢② $❤❡ ❞❡$❡2♠✐♥❛♥$% ♦❢ %$♦❝❦ ♠❛2❦❡$ ♣❛2$✐❝✐♣❛$✐♦♥ ✭❈❤❛♣$❡2 ✷✮ ❜② ❝♦♥%✐❞❡2✐♥❣ ❛ %❛♠♣❧❡ ✇❤✐❝❤ ✐% ❝❤❛2❛❝$❡2✐③❡❞ ❜② ❣❡♥❞❡2 ♣❛2✐$② ❛♥❞ ✇❤✐❝❤ ✐% 2❡♣2❡%❡♥$❛$✐✈❡ ♦❢ $❤❡ ✇❤♦❧❡ ❋2❡♥❝❤ ♣♦♣✉❧❛$✐♦♥✳ ❖✉2 ♦2✐❣✐♥❛❧ ❛♣♣2♦❛❝❤ ✐♥ $❤✐% ❝❤❛♣$❡2 ✐% $♦ $❡%$ ✇❤❡$❤❡2 ❝❧✐❡♥$%✬ ▼✐❋■❉ P✉❡%$✐♦♥♥❛✐2❡ ❛♥%✇❡2% ❡①♣❧❛✐♥ $❤❡✐2 ❞❡❝✐%✐♦♥ $♦ ✐♥✈❡%$ ✐♥ %$♦❝❦%✱ ✐✳❡✳ $♦ ❜❡❝♦♠❡ ✐♥✈❡%$♦2%✳ ❙❡❝♦♥❞✱ ✇❡ ❛♥❛❧②③❡ 2❡$❛✐❧ ❝❧✐❡♥$%✬ %❡❧❢✲❛%%❡%%❡❞ ✐♥✈❡%$♠❡♥$ ❣♦❛❧% ✐♥ $❤❡ ▼✐❋■❉ P✉❡%$✐♦♥♥❛✐2❡ $♦❣❡$❤❡2 ✇✐$❤ $❤❡✐2 ❛❝$✉❛❧ ✐♥✈❡%$♠❡♥$ ❞❡❝✐%✐♦♥% ✉♥❞❡2 $❤❡ $❤❡♦2❡$✐❝❛❧ ❢2❛♠❡✇♦2❦ ♦❢ ♠❡♥✲ $❛❧ ❛❝❝♦✉♥$✐♥❣ ✭❈❤❛♣$❡2 ✸✮✳ ❚❤❡ ❛✈❛✐❧❛❜✐❧✐$② ♦❢ ❞❛$❛ ♦♥ ❜♦$❤ ✐♥$❡♥❞❡❞ ❣♦❛❧% ❛♥❞ ✐♥✈❡%$♠❡♥$ ❞❡❝✐%✐♦♥% ♦✛❡2% $❤❡ ♦♣♣♦2$✉♥✐$② $♦ ✐♥✈❡%$✐❣❛$❡ ❢♦2 $❤❡ ✜2%$ $✐♠❡ ✇❤❡$❤❡2 2❡$❛✐❧ ❝❧✐❡♥$%✬ ✐♥✈❡%$♠❡♥$ ❣♦❛❧ ❝❤♦✐❝❡% ❛2❡ ❝♦♥%✐%$❡♥$ ✇✐$❤ $❤❡✐2 ✐♥✈❡%$♠❡♥$ ❞❡❝✐%✐♦♥%✳ ❋✐♥❛❧❧②✱ ✇❡ %$✉❞② ❢♦2❡✐❣♥ %$♦❝❦ ✐♥✈❡%$♠❡♥$ ♦2✱ ❡P✉✐✈❛❧❡♥$❧② ✐♥✈❡%$♦2 %♦♣❤✐%$✐❝❛$✐♦♥ ✭❈❤❛♣$❡2 ✹✮✳ ❲❡ ✐♥✈❡%$✐❣❛$❡ ✇❤❡$❤❡2 $❤❡ ♠♦%$ %♦♣❤✐%$✐❝❛$❡❞ ✐♥✈❡%$♦2%✱ ✐✳❡✳ $❤♦%❡ ❞✐2❡❝$❧② ❤♦❧❞✐♥❣ ❛$ ❧❡❛%$ ♦♥❡ ❢♦2❡✐❣♥ %$♦❝❦✱ ❞✐✈❡2%✐❢② ❛❧✇❛②% ❜❡$$❡2 $❤❡✐2 ♣♦2$❢♦❧✐♦% $❤❛♥ $❤❡ ❧❡❛%$ %♦♣❤✐%✲ $✐❝❛$❡❞ ♦♥❡% 2❡❣❛2❞❧❡%% ♦❢ $❤❡ $②♣❡ ♦❢ ✜♥❛♥❝✐❛❧ ♣2♦❞✉❝$%✳ ❚❤❛♥❦% $♦ $❤❡ ▼✐❋■❉ P✉❡%$✐♦♥♥❛✐2❡ ❛♥%✇❡2%✱ ✇❡ ✐♥✈❡%$✐❣❛$❡ ✇❤❡$❤❡2 $❤❡ ♠♦%$ %♦♣❤✐%$✐❝❛$❡❞ ✐♥✈❡%$♦2% %✐❣♥✐✜❝❛♥$❧② ❞✐✛❡2 ❢2♦♠ $❤❡ ❧❡❛%$ %♦♣❤✐%$✐❝❛$❡❞ ♦♥❡% 2❡❣❛2❞✐♥❣ $❤❡✐2 2✐%❦ $♦❧❡2❛♥❝❡✱ %❡♥%✐$✐✈✐$② $♦ ❧♦%%❡% ❛♥❞ ✜♥❛♥❝✐❛❧ ❧✐$❡2❛❝②✳ ❲❡ ❛❞❞✐$✐♦♥❛❧❧② $❡%$ ✶_{▼✐❋■❉ ■■ %❡♣❧❛❝❡+ ▼✐❋■❉ ■ ✭✷✵✵✹✴✸✾✴❊❈✮ 6❤❛6 ✇❛+ ✐♠♣❧❡♠❡♥6❡❞ ✐♥ ✷✵✵✼✳} ✷

✇❤❡#❤❡$ %♦♣❤✐%#✐❝❛#❡❞ ✐♥✈❡%#♦$% %✉✛❡$ ❢$♦♠ #❤❡ ❤♦♠❡ ❜✐❛% ❞❡%♣✐#❡ ♦❢ ✐♥✈❡%#✐♥❣ ♦✈❡$%❡❛%✳ ■♥ #❤✐% ❞✐%%❡$#❛#✐♦♥✱ ✇❡ ❤❛✈❡ #❤❡ ♦♣♣♦$#✉♥✐#② #♦ ❝♦♥❞✉❝# ❛ ❥♦✐♥# %#✉❞② ♦❢ #❤❡ ▼✐❋■❉ <✉❡%#✐♦♥♥❛✐$❡ ❛♥%✇❡$% ✭❉❛"❛#❡" ✶ ✮ ❛♥❞ ❜❛♥❦✐♥❣ $❡❝♦$❞% ✭❉❛"❛#❡" ✷ ✮ ♦❢ $❡#❛✐❧ ❝❧✐❡♥#% ♦❢ ❛ ❧❛$❣❡ ❊✉$♦♣❡❛♥ $❡#❛✐❧ ❜❛♥❦✷_✳ ❚❤❡ ♠❛♥❞❛#♦$② ❞❛#❛ ❝♦❧❧❡❝#✐♦♥ ✉♥❞❡$ ▼✐❋■❉ ❛❧❧♦✇% #♦ ❝♦♥%✐❞❡$ ❛ ❧❛$❣❡ %❛♠♣❧❡ ❝♦♠♣♦%❡❞ ♦❢ ♠♦$❡ #❤❛♥ ✾✽✱✵✵✵ $❡#❛✐❧ ❝❧✐❡♥#% ♦✈❡$ #❤❡ ✷✵✵✼✲✷✵✶✺ ♣❡$✐♦❞✸_{✳ ■♥ #❤❡ ❧✐#❡$❛#✉$❡✱ ❞❡❝❧❛$❡❞ ❞❛#❛ ✭#❤❛# ❛$❡ ✉%✉❛❧❧② ❡❧✐❝✐✲} #❛#❡❞ #❤$♦✉❣❤ %✉$✈❡②% ❛♥❞ #❤❡♥ %✉❜❥❡❝#✐✈❡✮ ❛♥❞ ❜$♦❦❡$❛❣❡ ♦$ ❛❞♠✐♥✐%#$❛#✐✈❡ ❞❛#❛ ✭#❤❛# ❛$❡ ♦❜%❡$✈❛❜❧❡ ❛♥❞ #❤❡♥ ♦❜❥❡❝#✐✈❡✮ ❛$❡ %❡❧❞♦♠ ❛♥❛❧②③❡❞ #♦❣❡#❤❡$ ✭❉♦$♥ ❛♥❞ ❍✉❜❡$♠❛♥✱ ✷✵✵✺✱ ❉♦$♥ ❛♥❞ ❙❡♥❣♠✉❡❧❧❡$✱ ✷✵✵✾✱ ❍♦✛♠❛♥♥ ❡# ❛❧✳✱ ✷✵✶✸✱ ✷✵✶✺✱ ❍♦✛♠❛♥♥ ❛♥❞ O♦%#✱ ✷✵✶✼✱ ❇❡❧❧♦❢❛##♦ ❡# ❛❧✳✱ ✷✵✶✽✱ ❇✐❛♥❝❤✐✱ ✷✵✶✽ ❛♥❞ ❇✐❛♥❝❤✐ ❛♥❞ ❚❛❧❧♦♥✱ ✷✵✶✽✮✳ ❈♦♠♣❛$❡❞ #♦ ❤♦✉%❡❤♦❧❞ %✉$✈❡②%✱ ▼✐❋■❉ <✉❡%#✐♦♥♥❛✐$❡ ❛♥%✇❡$% ❛$❡ ♠♦$❡ $❡❧✐❛❜❧❡ ❜❡❝❛✉%❡ $❡#❛✐❧ ❝❧✐❡♥#% ♠❛② ❣✐✈❡ $❡❧❡✈❛♥# ❛♥❞ ❤♦♥❡%# ❛♥%✇❡$% #♦ ❜❡♥❡✜# ✇❡❧❧✲%✉✐#❡❞ ❛❞✈✐❝❡ ❢$♦♠ #❤❡✐$ ✜♥❛♥❝✐❛❧ ❛❞✈✐%❡$✳ ▼♦$❡ ✐♠♣♦$#❛♥#❧②✱ #❤❡ %❛♠♣❧❡ ✐% ❡①❡♠♣# ♦❢ ❛♥② %❡❧❡❝#✐♦♥ ❜✐❛% ❧❡❛❞✐♥❣ ✉% #♦ ♥♦# %♦❧❡❧② ❢♦❝✉% ♦♥ $❡#❛✐❧ ✐♥✈❡%#♦$% ❜✉# #♦ ❛♥❛❧②③❡ #❤❡ ❜❡❤❛✈✐♦$ ♦❢ $❡#❛✐❧ ❝❧✐❡♥#%✱ %♦♠❡ ♦❢ #❤❡♠ ♦♥❧② ❤♦❧❞ ❛ ❝✉$$❡♥# ❛❝❝♦✉♥# ✇✐#❤✐♥ #❤❡ ❜❛♥❦ ❛♥❞ ❞♦ ♥♦# ♣❛$#✐❝✐♣❛#❡ ✐♥ #❤❡ ✜♥❛♥❝✐❛❧ ♠❛$❦❡#%✳ ❈♦♥%❡<✉❡♥#❧②✱ ♠❡♥ ❛♥❞ ✇♦♠❡♥ ❛$❡ ❡<✉❛❧❧② $❡♣$❡%❡♥#❡❞ ✐♥ ♦✉$ %❛♠♣❧❡✱ ✇❤✐❧❡ ♠❡♥ ❛$❡ ✉%✉❛❧❧② ♦✈❡$✲$❡♣$❡%❡♥#❡❞ ✐♥ ♦#❤❡$ %#✉❞✐❡% ♦♥ #❤❡ ❜❡❤❛✈✐♦$ ♦❢ $❡#❛✐❧ ✐♥✈❡%#♦$% ✭❇❛$❜❡$ ❛♥❞ ❖❞❡❛♥✱ ✷✵✵✶✱ ●♦❡#③♠❛♥♥ ❛♥❞ ❑✉♠❛$✱ ✷✵✵✽ ❛♥❞ ❍♦✛♠❛♥♥ ❡# ❛❧✳✱ ✷✵✶✸✱ ✷✵✶✺✮✳ ❚❤❡$❡❢♦$❡✱ ✐♥ #❤✐% ❞✐%%❡$#❛#✐♦♥✱ ✇❡ ❛$❡ ❛❜❧❡ #♦ ❝♦♥#$♦❧ ❢♦$ ❛♥② ✉%✉❛❧ ❣❡♥❞❡$ ❞✐✛❡$❡♥❝❡% ✐♥ $✐%❦ ❛✈❡$%✐♦♥ ✭❈❤❛$♥❡%% ❛♥❞ ●♥❡❡③②✱ ✷✵✶✷✮✱ ❧♦%% ❛✈❡$%✐♦♥ ✭❘❛✉✱ ✷✵✶✹✮ ❛♥❞ ✜♥❛♥❝✐❛❧ ❧✐#❡$❛❝② ✭❇✉❝❤❡$✲❑♦❡♥❡♥ ❡# ❛❧✳✱ ✷✵✶✼✮✳ ❆❧#❤♦✉❣❤ ❝♦♥%✐❞❡$✐♥❣ ♦♥❧② #❤❡ ▼✐❋■❉ <✉❡%#✐♦♥♥❛✐$❡ ❛♥%✇❡$% ♦❢ ♦♥❡ ❜❛♥❦ ♠✐❣❤# ❜❡ ❛ ❞$❛✇❜❛❝❦✱ ✇❡ ❝♦❧❧❡❝#❡❞ ❛ $✐❝❤ ❞❛#❛%❡# ♦❢ ❛♥%✇❡$% ♦✈❡$ ❛# ♠♦%# #❤$❡❡ ✐❞❡♥#✐❝❛❧ %✉❝❝❡%%✐✈❡ <✉❡%#✐♦♥♥❛✐$❡%✳ ▼♦$❡♦✈❡$✱ ♦✉$ %❛♠♣❧❡ ✐% $❡♣$❡%❡♥#❛#✐✈❡ ♦❢ #❤❡ ✇❤♦❧❡ ❋$❡♥❝❤ ♣♦♣✉❧❛#✐♦♥ $❡❣❛$❞✐♥❣ %♦❝✐♦✲❞❡♠♦❣$❛♣❤✐❝% ❛♥❞ ✇❡❛❧#❤✱ ✐♥❝❧✉❞✐♥❣ #❤❡ ♥❡# ♠♦♥#❤❧② ✐♥❝♦♠❡✱ #❤❡ ❜❛♥❦ ❧♦❛♥ ❛♠♦✉♥#%✱ %❛✈✐♥❣% ❛❝❝♦✉♥# ❛♥❞ ✜♥❛♥❝✐❛❧ ♣$♦❞✉❝# ❤♦❧❞✐♥❣%✱ ♣$♦✈✐❞✐♥❣ #❤✉% #❤❡ ♦♣♣♦$#✉♥✐#② #♦ ❣✐✈❡ ❛ ❣❡♥❡$❛❧ ♣❡$%♣❡❝#✐✈❡ #♦ ♦✉$ $❡%✉❧#%✳ ❋✐♥❛❧❧②✱ ✐♥ ❋$❛♥❝❡✱ #❤❡ %#✉❞② ♦❢ ▼✐❋■❉ ❞❛#❛ #♦❣❡#❤❡$ ✇✐#❤ ❜❛♥❦✐♥❣ ❞❛#❛ ❤❛% ♥♦# ②❡# ❜❡❡♥ ❝♦♥❞✉❝#❡❞✳ ▼✐❋■❉ <✉❡%#✐♦♥♥❛✐$❡ ❛♥%✇❡$% ✇❡$❡ ♣$❡✈✐♦✉%❧② ❛♥❛❧②③❡❞ ✐♥ ■#❛❧② ✭▼❛③③♦❧✐ ❛♥❞ ▼❛$✐♥❡❧❧✐✱ ✷✵✶✹✮ ❛♥❞ ✐♥ ❇❡❧❣✐✉♠ ✭❉✬❍♦♥❞# ❛♥❞ ❘♦❣❡$✱ ✷✵✶✼ ❛♥❞ ❇❡❧❧♦❢❛##♦ ❡# ❛❧✳✱ ✷✵✶✽✮✳ ■♥ #❤✐% ❞✐%%❡$#❛#✐♦♥✱ ✇❡ ❣❛#❤❡$ ❛ ❤✐❣❤❡$ ♥✉♠❜❡$ ♦❢ $❡#❛✐❧ ❝❧✐❡♥#% #❤❛♥ #❤❡ ♦♥❡ ♦❢ #❤❡%❡ %#✉❞✐❡% ❛♥❞ ✇❡ ❢♦❝✉% ♦♥ ❛ ✈❛$✐❡#② ♦❢ %✉❜❥❡❝#✐✈❡ ❛##✐#✉❞❡% ❛♥❞ ❝❤❛$❛❝#❡$✐%#✐❝% $❡❣❛$❞✐♥❣ %❛✈✐♥❣% ❛♥❞ ✐♥✈❡%#♠❡♥# ❞❡❝✐%✐♦♥%✳ ❆%✐❞❡ ❢$♦♠ ✉%✐♥❣ ❢♦$ #❤❡ ✜$%# #✐♠❡ ▼✐❋■❉ ❞❛#❛ ✐♥ ❋$❛♥❝❡✱ #❤❡ ♦✈❡$❛❧❧ ✜♥❞✐♥❣% ♦❢ #❤✐% ❞✐%%❡$#❛✲ #✐♦♥ ❝♦♥#$✐❜✉#❡ ❜♦#❤ #♦ #❤❡ ❜❡❤❛✈✐♦$❛❧ ✜♥❛♥❝❡ ❧✐#❡$❛#✉$❡ ❛♥❞ #♦ ✜♥❛♥❝✐❛❧ $❡❣✉❧❛#✐♦♥% ❛# ❛ ♦♣❡$❛#✐♦♥❛❧ %#❛♥❞♣♦✐♥# ❢♦$ #❤❡ ❢♦❧❧♦✇✐♥❣ $❡❛%♦♥%✳

✷_{❚❤❡#❡ ❞❛&❛ ✇❡(❡ ♣(♦✈✐❞❡❞ &❤❛♥❦# &♦ &❤❡ ❆▼❋ ✭❆✉"♦$✐"& ❞❡) ▼❛$❝❤&) ❋✐♥❛♥❝✐❡$)✮ ❜② ❛♥ ❛♥♦♥②♠♦✉# ❊✉(♦♣❡❛♥ (❡&❛✐❧}

❜❛♥❦✳ ❲❡ ❛(❡ ❛❧#♦ &❤❛♥❦❢✉❧ &♦ &❤❡ ❖❊❊ ✭❖❜)❡$✈❛"♦✐$❡ ❞❡ ❧✬➱♣❛$❣♥❡ ❊✉$♦♣&❡♥♥❡✮ ❢♦( &❤❡ ✜♥❛♥❝✐❛❧ #✉♣♣♦(&✳

✸_{❚❤(♦✉❣❤♦✉& &❤✐# ❞✐##❡(&❛&✐♦♥✱ ✇❡ ❝♦♥#✐❞❡( ▼✐❋■❉ ■ ❜❡❝❛✉#❡ &❤❡ ▼✐❋■❉ D✉❡#&✐♦♥♥❛✐(❡ ✇❛# ❛❞♠✐♥✐#&❡(❡❞ &♦ (❡&❛✐❧}

❝❧✐❡♥&# ❜❡&✇❡❡♥ ✷✵✵✼ ❛♥❞ ✷✵✶✺✳ ▼✐❋■❉ ■■ ❝❛♠❡ ✐♥&♦ ❢♦(❝❡ ❢(♦♠ ❏❛♥✉❛(② ✷✵✶✽✳

❆! !❤❡ ❛❝❛❞❡♠✐❝ ❧❡✈❡❧✱ ♦✉. ✜♥❞✐♥❣2 ❝♦♥!.✐❜✉!❡ !♦ !❤❡ ❡①!❡♥! ❧✐!❡.❛!✉.❡ ♦♥ !❤❡ ❜❡❤❛✈✐♦. ♦❢ ❋.❡♥❝❤ .❡!❛✐❧ ✐♥✈❡2!♦.2✴❝❧✐❡♥!2✳ ❚♦ ❞❛!❡✱ ❋.❡♥❝❤ 2!✉❞✐❡2 ❢♦❝✉2❡❞ ♦♥ ❛ ❜.♦❛❞ .❛♥❣❡ ♦❢ ✜♥❛♥❝✐❛❧ ❝♦♥❝❡♣!2✱ 2✉❝❤ ❛2 ✐❞❡♥!✐❢②✐♥❣ 2♦♠❡ ❜❡❤❛✈✐♦.❛❧ ❜✐❛2❡2 ♦❢ ❋.❡♥❝❤ ✐♥✈❡2!♦.2 ✭!❤❡ ❞✐2♣♦2✐!✐♦♥ ❡✛❡❝! ✭❇♦♦❧❡❧❧✲●✉♥❡2❤ ❡! ❛❧✳✱ ✷✵✵✾✱ ✷✵✶✷✮ ❛♥❞ !❤❡ ✭✉♥❞❡.✲✮ ❞✐✈❡.2✐✜❝❛!✐♦♥ ❜✐❛2 ✭❇.♦✐❤❛♥♥❡ ❡! ❛❧✳✱ ✷✵✶✻✮✮✱ ❡①❛♠✐♥✐♥❣ 2!♦❝❦ .❡!✉.♥ ✈♦❧❛!✐❧✐!② ✭❋♦✉❝❛✉❧! ❡! ❛❧✳✱ ✷✵✶✶✮✱ 2!♦❝❦ ♠❛.❦❡! .❡❛❝!✐♦♥ ✭❙✐✇❛.✱ ✷✵✶✶✮✱ 2!♦❝❦ ♠❛.❦❡! ♣❛.!✐❝✐♣❛!✐♦♥ ✭❆..♦♥❞❡❧ ❡! ❛❧✳✱ ✷✵✶✵ ❛♥❞ ❆..♦♥❞❡❧ ❡! ❛❧✳✱ ✷✵✶✺✮✱ ✐♥✈❡2!♦. !.❛❞✐♥❣ ♣❡.❢♦.♠❛♥❝❡ ✭▼❛❣.♦♥✱ ✷✵✶✷✱ ✷✵✶✹✮✱ ❤❡.❞✐♥❣ ❜❡❤❛✈✐♦. ✭▼❡.❧✐ ❛♥❞ ❘♦❣❡.✱ ✷✵✶✸✮✱ ✐♥✈❡2!♦. ❛!!❡♥!✐♦♥ ✭❆♦✉❛❞✐ ❡! ❛❧✳✱ ✷✵✶✸✮✱ ❞❡✈❡❧♦♣✐♥❣ ❛ ♠❛.❦❡! 2❡♥!✐♠❡♥! ✐♥❞❡① ✭❘♦❣❡.✱ ✷✵✶✹✮ ❛♥❞✱ ♠♦.❡ .❡❝❡♥!❧②✱ ❛♥❛❧②③✐♥❣ !❤❡ .❡❧❛!✐♦♥2❤✐♣ ❜❡!✇❡❡♥ ✜♥❛♥❝✐❛❧ ❧✐!❡.❛❝② ✭❇✐❛♥❝❤✐✱ ✷✵✶✽✮ ♦. ❛♠❜✐❣✉✐!② ♣.❡❢❡.❡♥❝❡2 ✭❇✐❛♥❝❤✐ ❛♥❞ ❚❛❧❧♦♥✱ ✷✵✶✽✮ ❛♥❞ ♣♦.!❢♦❧✐♦ .❡❜❛❧❛♥❝✐♥❣✳ ❆! !❤❡ ♦♣❡.❛!✐♦♥❛❧ ❧❡✈❡❧✱ ♦✉. ✜♥❞✐♥❣2 ❝♦♥!.✐❜✉!❡ !♦ !❤❡ ♣♦❧✐❝✐❡2 ❝♦♥❞✉❝!❡❞ ❜② !❤❡ ❊✉.♦♣❡❛♥ .❡❣✉✲ ❧❛!♦.2✱ 2✉❝❤ ❛2 !❤❡ ❆✉"♦$✐"& ❞❡) ▼❛$❝❤&) ❋✐♥❛♥❝✐❡$) ✭❆▼❋✮ ❛♥❞ !❤❡ ❊✉.♦♣❡❛♥ ❙❡❝✉.✐!✐❡2 ❛♥❞ ▼❛.❦❡!2 ❆✉!❤♦.✐!② ✭❊❙▼❆✮✱ ❛♥❞ !♦ !❤❡ ❝✉..❡♥! ❞❡❜❛!❡ ♦♥ !❤❡ ✉2❡❢✉❧♥❡22 ♦❢ !❤❡ ▼✐❋■❉ T✉❡2!✐♦♥♥❛✐.❡✳ ❙♣❡❝✐❢✲ ✐❝❛❧❧②✱ !❤✐2 ❞✐22❡.!❛!✐♦♥ ✐♥✈❡2!✐❣❛!❡2 ✇❤❡!❤❡. !❤❡ ▼✐❋■❉ T✉❡2!✐♦♥♥❛✐.❡ !.✉❧② ❤✐❣❤❧✐❣❤!2 .❡!❛✐❧ ❝❧✐❡♥!2✬ ♣.♦✜❧❡ ❛♥❞✱ ❛❞❞✐!✐♦♥❛❧❧②✱ ❣✐✈❡2 2♦♠❡ .❡❝♦♠♠❡♥❞❛!✐♦♥2 ❢♦. ✐♠♣.♦✈✐♥❣ ✐!✱ ❡2♣❡❝✐❛❧❧② .❡❣❛.❞✐♥❣ T✉❡2!✐♦♥✲ ♥❛✐.❡ ❧❡♥❣!❤ ❛♥❞ !❤❡ ♦.❞❡. ✐♥ ✇❤✐❝❤ T✉❡2!✐♦♥2 2❤♦✉❧❞ ❜❡ !.❡❛!❡❞ !♦ ❣❡! ❤✐❣❤ ❞❛!❛ .❡❧✐❛❜✐❧✐!②✳ ❚❤✐2 ❞✐22❡.!❛!✐♦♥ ✐2 ♦.❣❛♥✐③❡❞ ❛.♦✉♥❞ ❢♦✉. ❝❤❛♣!❡.2✳

❚❤❡ ✜$%& ❝❤❛♣&❡$✱ ✉♥&✐&❧❡❞ ✏❚❤❡ ❜❡❤❛✈✐♦$ ♦❢ $❡&❛✐❧ ✐♥✈❡%&♦$% ✐♥ &❤❡ ❧✐❣❤& ♦❢ ▼✐❋■❉✑✱ ✐♥!.♦❞✉❝❡2 !❤❡ ❧✐!❡.❛!✉.❡ ✐♥ ✇❤✐❝❤ !❤✐2 ❞✐22❡.!❛!✐♦♥ ❧✐❡2✳ ❲❡ ✜.2! ❡①❛♠✐♥❡ ♣2②❝❤♦❧♦❣② .❡2❡❛.❝❤ !♦ ❤❛✈❡ ❛ T✉✐❝❦ ♦✈❡.✈✐❡✇ ♦♥ ❤♦✇ ✐♥❞✐✈✐❞✉❛❧2 ♦♣❡.❛!❡ ❝❤♦✐❝❡2 ✇❤❡♥ !❤❡② ❢❛❝❡ ❝♦♠♣❧❡① !❛2❦2✳ ❚❤✐2 ♣.❡❧✐♠✐♥❛.② ♦✈❡.✈✐❡✇ ❡♥❛❜❧❡2 !♦ ✐♥!.♦❞✉❝❡ !❤❡ ❜❡❤❛✈✐♦. ♦❢ .❡!❛✐❧ ✐♥✈❡2!♦.2 ✐♥ ✜♥❛♥❝✐❛❧ ♠❛.❦❡!2 ❜② ❞❡2❝.✐❜✐♥❣ !❤❡ ♠♦2! ♦❢!❡♥✲T✉♦!❡❞ ❜❡❤❛✈✐♦.❛❧ ❜✐❛2❡2 ✐♥ !❤❡ ❧✐!❡.❛!✉.❡ ❛♥❞ !❤❡✐. ♠♦2! ❝♦♠♠♦♥ ❞❡!❡.♠✐♥❛♥!2✳ ❲❡ ♣.❡2❡♥! ▼✐❋■❉ ❛♥❞ !❤❡ 2♣❡❝✐✜❝ ▼✐❋■❉ T✉❡2!✐♦♥♥❛✐.❡ ♦❢ !❤❡ .❡!❛✐❧ ❜❛♥❦ !❤❛! ♣.♦✈✐❞❡❞ ✉2 ✇✐!❤ !❤❡ ❞❛!❛✳ ❲❡ ❝❛..② ♦✉! ❛♥ ✐♥✲❞❡♣!❤ ❛♥❛❧②2✐2 ♦❢ !❤✐2 ▼✐❋■❉ T✉❡2!✐♦♥♥❛✐.❡ ✇❤✐❧❡ ❝♦♥2✐❞❡.✐♥❣ 2♦♠❡ ❢.❛♠✐♥❣ ❡✛❡❝!2 ❛♥❞ ❣✐✈✐♥❣ 2♦♠❡ .❡❝♦♠♠❡♥❞❛!✐♦♥2 ✐♥ ♦.❞❡. !♦ ✐♠♣.♦✈❡ ✐!✳ ❲❡ !❤❡♥ ❞❡2❝.✐❜❡ ✜♥❡❧② ❜❛♥❦✐♥❣ .❡❝♦.❞2 ❛♥❞ 2❤❡❞ ❧✐❣❤! ♦♥ 2♦♠❡ 2♣❡❝✐✜❝ ✐♥❢♦.♠❛!✐♦♥ .❛.❡❧② ❛✈❛✐❧❛❜❧❡ ✐♥ ♦!❤❡. ❞❛!❛❜❛2❡2✱ 2✉❝❤ ❛2 !❤❡ ❝♦✉♥!.② ♦❢ ❜✐.!❤ ♦. !❤❡ ❞❡♣❛.!♠❡♥! ♦❢ .❡2✐❞❡♥❝❡✱ ❜✉! ❛❧2♦ ♦♥ ✐♥❢♦.♠❛!✐♦♥ !❤❛! ❤❛✈❡ ♥♦! ②❡! ❜❡❡♥ ❡①♣❧♦.❡❞✱ 2✉❝❤ ❛2 !❤❡ ❝❤♦✐❝❡ ♦❢ !❤❡ ♠❛!.✐♠♦♥✐❛❧ .❡❣✐♠❡✳ ❲❡ ♣.♦✈✐❞❡ ❞❡2❝.✐♣!✐✈❡ 2!❛!✐2!✐❝2 ♦♥ !❤❡ ▼✐❋■❉ T✉❡2!✐♦♥♥❛✐.❡ ❛♥2✇❡.2 ❛♥❞ ♦♥ ❜❛♥❦✐♥❣ .❡❝♦.❞2 ✇❤✐❧❡ ❝♦♠♣❛.✐♥❣ ♦✉. .❡2✉❧!2 !♦ !❤♦2❡ ♦❢ ♣.✐♦. 2!✉❞✐❡2 ❛♥❞ !♦ !❤♦2❡ ♦❢ !❤❡ ❋.❡♥❝❤ ♥❛!✐♦♥❛❧ 2!❛!✐2!✐❝2 ❜✉.❡❛✉ ✭■◆❙❊❊✮✳ ❋✐♥❛❧❧②✱ ❛ 2♣❡❝✐✜❝ ❛♥❛❧②2✐2 ✐2 ❞❡❞✐❝❛!❡❞ !♦ ✉♥.❡♣♦.!❡❞ ❛♥2✇❡.2 ❛♥❞ !♦ ❛♥2✇❡.2 2!❛❜✐❧✐!② ♦✈❡. 2✉❝❝❡22✐✈❡ T✉❡2!✐♦♥♥❛✐.❡2✳

❚❤❡ %❡❝♦♥❞ ❝❤❛♣&❡$✱ ✉♥&✐&❧❡❞ ✏▼✐❋■❉ ;✉❡%&✐♦♥♥❛✐$❡ ❛♥%✇❡$% ❛♥❞ %&♦❝❦ ♠❛$❦❡& ♣❛$&✐❝✲ ✐♣❛&✐♦♥✑✱ ❛✐♠2 !♦ ✐❞❡♥!✐❢② !❤❡ ❞❡!❡.♠✐♥❛♥!2 ♦❢ 2!♦❝❦ ♠❛.❦❡! ♣❛.!✐❝✐♣❛!✐♦♥ ♦❢ ♠♦.❡ !❤❛♥ ✼✵✱✵✵✵ .❡!❛✐❧ ❝❧✐❡♥!2 ✐♥ ❋.❛♥❝❡✳ ❚❤✐2 T✉❡2!✐♦♥ ✐2 ✐♠♣♦.!❛♥! ❜❡❝❛✉2❡ ✐! ✐2 ✇❡❧❧ ❞♦❝✉♠❡♥!❡❞ !❤❛! 2!♦❝❦ ♠❛.❦❡! ♣❛.!✐❝✲ ✐♣❛!✐♦♥ ✐2 ❧♦✇ ❛❧❧ ❛.♦✉♥❞ !❤❡ ✇♦.❧❞ ✭❡✳❣✳ !❤❡ ❯❙ ✭▼❛♥❦✐✇ ❛♥❞ ❩❡❧❞❡2✱ ✶✾✾✶✱ ❍❛❧✐❛22♦2 ❛♥❞ ❇❡.!❛✉!✱ ✶✾✾✺ ❛♥❞ \♦!❡.❜❛ ❛♥❞ ❙❛♠✇✐❝❦✱ ✶✾✾✺✮✱ !❤❡ ❯❑ ✭❆!!❛♥❛2✐♦ ❡! ❛❧✳✱ ✷✵✵✷✮ ❛♥❞ ❋.❛♥❝❡ ✭❆..♦♥❞❡❧ ❡! ❛❧✳✱

✷✵✶✺✮✮✳ ❲❡ ❤❛✈❡ +❤❡ ♦♣♣♦.+✉♥✐+② +♦ 3+✉❞② 3+♦❝❦ ✐♥✈❡3+♠❡♥+ ❞❡❝✐3✐♦♥ ✐♥ ❛ 3❛♠♣❧❡ ✇❤✐❝❤ ✐3 ❝❤❛.❛❝✲ +❡.✐③❡❞ ❜② ❣❡♥❞❡. ♣❛.✐+②✳ ❖✉. ✜♥❞✐♥❣3 ❛.❡ +❤❡♥ ❡①❡♠♣+ ♦❢ ❛♥② 3+♦❝❦❤♦❧❞✐♥❣ ❞✐✛❡.❡♥❝❡3 ❜❡+✇❡❡♥ ♠❡♥ ❛♥❞ ✇♦♠❡♥ ✭❇❛.❜❡. ❛♥❞ ❖❞❡❛♥✱ ✷✵✵✶ ❛♥❞ ❆❣♥❡✇ ❡+ ❛❧✳✱ ✷✵✵✸✮✳ ■♥ ❋.❛♥❝❡✱ 3+♦❝❦ ♠❛.❦❡+ ♣❛.+✐❝✐♣❛+✐♦♥ ✇❛3 ❛❧.❡❛❞② ❛❞❞.❡33❡❞ ❜② ✭❆..♦♥❞❡❧ ❡+ ❛❧✳✱ ✷✵✶✺✮✳ ❚❤❡3❡ ❛✉+❤♦.3 ✉3❡ 3❡❧❢✲❞❡❝❧❛.❡❞ ❞❛+❛ ❝♦♠✐♥❣ ❢.♦♠ ❛ ✷✵✶✶ ❤♦✉3❡❤♦❧❞ 3✉.✈❡②✱ ✇❤❡.❡❛3 ✐♥ +❤✐3 ❝❤❛♣+❡.✱ ❞❛+❛ ♦♥ 3+♦❝❦❤♦❧❞✐♥❣3 ❛.❡ .❡❛❧ ❞❛+❛ +❤❛+ ❛.❡ .❡❝♦.❞❡❞ ✐♥ +❤❡ ❜❛♥❦ ❝♦♠♣✉+❡. 3②3+❡♠ +❤✉3 ❡♥3✉.✐♥❣ ❛ ❤✐❣❤❡. .❡❧✐❛❜✐❧✐+② ♦❢ ♦✉. ✜♥❞✐♥❣3✳ ■♥ +❤✐3 ❝❤❛♣+❡.✱ ✇❡ 3❤♦✇ +❤❛+ ▼✐❋■❉ ✐♥❞✐❝❛+♦.3✱ ✐✳❡✳ 3❡❧❢✲❛33❡33❡❞ .✐3❦ +♦❧❡.❛♥❝❡ ❛♥❞ ❛++✐+✉❞❡3 +♦✇❛.❞3 ❧♦33❡3✱ ❛.❡ 3+.♦♥❣❡. ❞❡+❡.♠✐♥❛♥+3 ♦❢ +❤❡ ❞❡❝✐3✐♦♥ +♦ ❤♦❧❞ 3+♦❝❦3 +❤❛♥ ❝❧❛33✐❝❛❧ ❞❡+❡.♠✐♥❛♥+3✱ 3✉❝❤ ❛3 ❣❡♥❞❡.✱ ❛❣❡ ❛♥❞ ✐♥❝♦♠❡ ✭❇❛.❜❡. ❛♥❞ ❖❞❡❛♥✱ ✷✵✵✶ ❛♥❞ ❑♦.♥✐♦+✐3 ❛♥❞ ❑✉♠❛.✱ ✷✵✶✶✮✳ ❲❡ ✜♥❞ +❤❛+ .❡+❛✐❧ ❝❧✐❡♥+3 ✇✐+❤ ❛ ❤✐❣❤ .✐3❦ +♦❧❡.❛♥❝❡ ❧❡✈❡❧ ❛♥❞✴♦. ❛ ❧♦✇ 3❡♥3✐+✐✈✐+② +♦ ❧♦33❡3 ❛.❡ ♠♦.❡ ❧✐❦❡❧② +♦ ♣❛.+✐❝✐♣❛+❡ ✐♥ +❤❡ 3+♦❝❦ ♠❛.❦❡+✳ ❇❡✲ 3✐❞❡3✱ 3♣❡❝✐✜❝ 3♦❝✐♦✲❞❡♠♦❣.❛♣❤✐❝ ✐♥❞✐❝❛+♦.3✱ ♥❛♠❡❧② +❤❡ ❝♦✉♥+.② ♦❢ ❜✐.+❤✱ +❤❡ .❡❣✐♦♥ ♦❢ .❡3✐❞❡♥❝② ❛♥❞✱ ✐♥+❡.❡3+✐♥❣❧②✱ +❤❡ ❝❤♦✐❝❡ ♦❢ +❤❡ ♠❛+.✐♠♦♥✐❛❧ .❡❣✐♠❡✱ ❛❧3♦ ❡①♣❧❛✐♥ 3+♦❝❦ ✐♥✈❡3+♠❡♥+ ❞❡❝✐3✐♦♥✳ ■♥❞❡❡❞✱ ✇❡ ✜♥❞ +❤❛+ ❜❡✐♥❣ ♥❛+✐✈❡✲❜♦.♥✱ ❧✐✈✐♥❣ ✐♥ +❤❡ O❛.✐3 .❡❣✐♦♥ ❛♥❞ ♦♣+✐♥❣ ❢♦. +❤❡ 3❡♣❛.❛+✐♦♥ ♦❢ ♣.♦♣❡.+② .❡❣✐♠❡ ♣.♦♠♦+❡ 3+♦❝❦❤♦❧❞✐♥❣✳ ❋✉.+❤❡.♠♦.❡✱ ❤♦❧❞✐♥❣ ♦+❤❡. ✐♥✈❡3+♠❡♥+ ✈❡❤✐❝❧❡3✱ 3✉❝❤ ❛3 ✉♥✐+✲❧✐♥❦❡❞ ❧✐❢❡ ✐♥3✉.❛♥❝❡ ♣.♦❞✉❝+3 ❛♥❞✴♦. .❡+✐.❡♠❡♥+ ♣❧❛♥3✱ ❤❛3 ❛ ♣♦3✐+✐✈❡ ❛♥❞ 3✐❣♥✐✜❝❛♥+ ✐♠♣❛❝+ ♦♥ 3+♦❝❦ ✐♥✈❡3+♠❡♥+✳ ❖✉. ✜♥❞✐♥❣3 ❛.❡ .♦❜✉3+ ✇❤❡♥ ✇❡ ❝♦♥3✐❞❡. .❡+❛✐❧ ❝❧✐❡♥+3✬ ✜♥❛♥❝✐❛❧ ❡①♣❡.✐❡♥❝❡✱ +❤❡✐. ❢❛♠✐❧✐❛.✐+② ✇✐+❤ +❤❡ ▼✐❋■❉ Q✉❡3+✐♦♥♥❛✐.❡ ♦. ✇✐+❤ +❤❡ 3+♦❝❦ ♠❛.❦❡+✱ ❛♥❞ +❤❡✐. ✜♥❛♥❝✐❛❧ ❧✐+❡.❛❝②✳ ❚❤✐3 ❝❤❛♣+❡. ❜.✐♥❣3 ✉3❡❢✉❧ ✐♥3✐❣❤+3 ❢♦. ❜♦+❤ ❛❝❛❞❡♠✐❝3 ❛♥❞ ♣.❛❝+✐+✐♦♥❡.3 ♦♥ +❤❡ ✉3❡❢✉❧♥❡33 ♦❢ +❤❡ ▼✐❋■❉ Q✉❡3+✐♦♥♥❛✐.❡ ❛♥3✇❡.3 ❜❡❝❛✉3❡ ✇❡ 3❤♦✇ +❤❛+ ✉3✐♥❣ 3✉❝❤ ❞❛+❛ ❝❛♥ ❜❡ ❤❡❧♣❢✉❧ +♦ ❞❡+❡❝+ ✇❤✐❝❤ .❡+❛✐❧ ❝❧✐❡♥+3 ❛.❡ +❤❡ ♠♦3+ ❧✐❦❡❧② +♦ ♣❛.+✐❝✐♣❛+❡ ✐♥ +❤❡ 3+♦❝❦ ♠❛.❦❡+✳ ❲❡ +❤✉3 3✉❣❣❡3+ +♦ ▼✐❋■❉ Q✉❡3+✐♦♥♥❛✐.❡ ❞❡✈❡❧♦♣❡.3 +♦ ❞❡3❡.✈❡ ♠♦.❡ ❛++❡♥+✐♦♥ ✐♥ ❛33❡33✐♥❣ .❡+❛✐❧ ❝❧✐❡♥+3✬ ❛++✐+✉❞❡3 +♦✇❛.❞3 .✐3❦ ❛♥❞ +♦✇❛.❞3 ❧♦33❡3 ✐♥ ♦.❞❡. +♦ ♣.♦✈✐❞❡ +❤❡♠ ✇✐+❤ +❤❡ ♠♦3+ 3✉✐+❛❜❧❡ ❛❞✈✐❝❡ ❛♥❞ ✜♥❛♥❝✐❛❧ ♣.♦❞✉❝+3✳ ❚❤❡ #❤✐%❞ ❝❤❛♣#❡%✱ ✉♥#✐#❧❡❞ ✏■♥✈❡1#♠❡♥# ❣♦❛❧1 ❛♥❞ ♠❡♥#❛❧ ❛❝❝♦✉♥#✐♥❣ ✐♥ ❋%❡♥❝❤ %❡#❛✐❧ ❝❧✐❡♥#1✑✱ 3+✉❞✐❡3 +❤❡ ✐♠♣❛❝+ ♦❢ 3❡❧❢✲❛33❡33❡❞ ✐♥✈❡3+♠❡♥+ ❣♦❛❧3 ♦♥ +❤❡ ❛❝+✉❛❧ ✐♥✈❡3+♠❡♥+ ❝❤♦✐❝❡3 ✉♥❞❡. +❤❡ +❤❡♦.❡+✐❝❛❧ ❢.❛♠❡✇♦.❦ ♦❢ ♠❡♥+❛❧ ❛❝❝♦✉♥+✐♥❣✳ ■♥+.♦❞✉❝❡❞ ❜② ❚❤❛❧❡. ✭✶✾✽✺✮✹_{✱ ♠❡♥+❛❧ ❛❝❝♦✉♥+✐♥❣} ❞❡3❝.✐❜❡3 +❤❡ ✇❛② ✐♥❞✐✈✐❞✉❛❧3 ♦.❣❛♥✐③❡✱ ❡✈❛❧✉❛+❡ ❛♥❞ ❦❡❡♣ +.❛❝❦ ♦❢ +❤❡✐. ✜♥❛♥❝✐❛❧ ❛❝+✐✈✐+✐❡3 ✭❚❤❛❧❡.✱ ✶✾✾✾✮✳ ❙❡++✐♥❣ ✐♥✈❡3+♠❡♥+ ❣♦❛❧3 ✐3 ❛♥ ✐♠♣♦.+❛♥+ 3+❡♣ +❤❛+ ♠✐❣❤+ ♦❝❝✉. ❜❡❢♦.❡ ♠❛❦✐♥❣ ❛♥② ✜♥❛♥❝✐❛❧ ❞❡❝✐3✐♦♥✳ ❖✉. ✈✐❡✇ ✐3 +❤❛+ ❛33❡33✐♥❣ ✐♥✈❡3+♠❡♥+ ❣♦❛❧3 ✐♥ +❤❡ ♠❛♥❞❛+♦.② ▼✐❋■❉ Q✉❡3+✐♦♥♥❛✐.❡ ♠❛② ❡♥❝♦✉.❛❣❡ ✐♥❞✐✈✐❞✉❛❧3 +♦ ❞❡✈❡❧♦♣ ❡① ❛♥$❡ ❛ ✜♥❛♥❝✐❛❧ ❞✐3❝✐♣❧✐♥❡ ❛.♦✉♥❞ 3❛✈✐♥❣3 ❛♥❞ ✐♥✈❡3+♠❡♥+3✳ ❋♦. ❡①❛♠♣❧❡✱ ✐♥❞✐✈✐❞✉❛❧3 ♠❛② 3❡+ ❛ ♠♦♥+❤❧② ❞✐.❡❝+ ❞❡❜✐+ ❢♦. ❜✉✐❧❞✐♥❣ ❛♥ ❡❞✉❝❛+✐♦♥ ❢✉♥❞ ❢♦. +❤❡✐. ❝❤✐❧❞.❡♥ ✐❢ +❤✐3 ❣♦❛❧ ✐3 ❝❧❡❛.❧② ❡①♣.❡33❡❞ ✐♥ +❤❡ Q✉❡3+✐♦♥♥❛✐.❡ ❛♥3✇❡.3✳ ❚❤❡ ❛✈❛✐❧❛❜✐❧✐+② ♦❢ ❞❛+❛ ♦♥ ❜♦+❤ 3❡❧❢✲❛33❡33❡❞ ✐♥✈❡3+♠❡♥+ ❣♦❛❧3 ❛♥❞ .❡❛❧ ✐♥✈❡3+♠❡♥+ ❞❡❝✐3✐♦♥3 ❢♦. ❛♥ ✐❞❡♥+✐❝❛❧ 3❡+ ♦❢ ✐♥❞✐✈✐❞✉❛❧3 ♣.♦✈✐❞❡3 +❤❡ ✉♥✐Q✉❡ ♦♣♣♦.+✉♥✐+② +♦ +❡3+ ✇❤❡+❤❡. ✐♥+❡♥❞❡❞ ❣♦❛❧3 3❡+ ❜② ✐♥❞✐✈✐❞✉❛❧3 ✐♠♣❛❝+ +❤❡✐. .❡❛❧ ❞❡❝✐3✐♦♥✲♠❛❦✐♥❣✳ ■♥ +❤✐3 ❝❤❛♣+❡.✱ ✇❡ 3+✉❞② +❤❡ 3❡❧❢✲❛33❡33❡❞ ✐♥✈❡3+♠❡♥+ ❣♦❛❧3 ♦❢ ♠♦.❡ +❤❛♥ ✻✵✱✵✵✵ .❡+❛✐❧ ❝❧✐❡♥+3 +♦❣❡+❤❡. ✇✐+❤ +❤❡✐. ✐♥✈❡3+♠❡♥+ ❞❡❝✐3✐♦♥3 ✇❤✐❝❤ ❛.❡ ❛✈❛✐❧❛❜❧❡ ✐♥ ❜❛♥❦✐♥❣ .❡❝♦.❞3✳ ❲❡ ✜.3+ ❞❡.✐✈❡ ❛ .❡+❛✐❧ ❝❧✐❡♥+ ♠❡♥+❛❧ ✹_{❚❤❡ ✷✵✶✼ ◆♦❜❡❧ ▲❛✉.❡❛/❡ ✐♥ ❊❝♦♥♦♠✐❝5✳} ✺