Donald Hebb's concept of cell assemblies is a physiology-based idea for a distributed neural representation of behaviorally relevant objects, concepts, or constellations. In the late 70s Valentino Braitenberg started the endeavor to spell out the hypothesis that the cerebral cortex is the structure where cell assemblies are formed, maintained and used, in terms of neuroanatomy (which was his main concern) and also neurophysiology. This endeavor has been carried on over the last 30 years corroborating most of his findings and interpretations. This paper summarizes the present state of cell assembly theory, realized in a network of associative memories, and of the anatomical evidence for its location in the cerebral cortex.

Spike synchronization is thought to have a constructive role for feature integration, attention, associative learning, and the formation of bidirectionally connected Hebbian cell assemblies. By contrast, theoretical studies on spike-timing-dependent plasticity (STDP) report an inherently decoupling influence of spike synchronization on synaptic connections of coactivated neurons. For example, bidirectional synaptic connections as found in cortical areas could be reproduced only by assuming realistic models of STDP and rate coding. We resolve this conflict by theoretical analysis and simulation of various simple and realistic STDP models that provide a more complete characterization of conditions when STDP leads to either coupling or decoupling of neurons firing in synchrony. In particular, we show that STDP consistently couples synchronized neurons if key model parameters are matched to physiological data: First, synaptic potentiation must be significantly stronger than synaptic depression for small (positive or negative) time lags between presynaptic and postsynaptic spikes. Second, spike synchronization must be sufficiently imprecise, for example, within a time window of 5–10 ms instead of 1 ms. Third, axonal propagation delays should not be much larger than dendritic delays. Under these assumptions synchronized neurons will be strongly coupled leading to a dominance of bidirectional synaptic connections even for simple STDP models and low mean firing rates at the level of spontaneous activity.

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A rising number of unsolicited e-mails recommends buying certain stocks, pretending that the sender has private information that will boost these stocks' prices when it becomes publicly available. We first describe the common characteristics of stocks pushed by such e-mails. Then, we investigate the effect of stock spam e-mails on returns, volatility, intraday spread, and volume. We find a significant impact of spam mails on all of these variables. As a second contribution, we characterize features of stocks that are particularly easy to manipulate, and we investigate dependencies between these features.JEL classification: D82, G14, G24