Exchanging Goods Using Valuable Money

A group of people wishes to use money to exchange goods efficiently over several time periods. However, there are disadvantages to using any of the goods as money, and in addition fiat money issued in the form of notes or coins will be valueless in the final time period, and hence in all earlier periods. Also, Walrasian market prices are determined only up to an arbitrary rescaling. Nevertheless we show that it is possible to devise a system which uses money to exchange goods and in which money has a determinate positive value. In this system, tokens are initially supplied to all traders by a central authority and recovered by a purchase tax. All trades must be made using tokens or promissory notes for tokens. This mechanism controls the flow rather than the stock of money: it introduces some trading frictions, some redistribution of wealth, and some distortion of prices, but these effects can all be made small.Comment: 23 pages, 10 figures, revise

Concerning the Double Scaling Limit in the O(N)O(N) Vector Model in Four-Dimensions

The 1/N expansion for the O(N) vector model in four dimensions is reconsidered. It is emphasized that the effective potential for this model becomes everywhere complex just at the critical point, which signals an unstable vacuum. Thus a critical O(N) vector model cannot be consistently defined in the 1/N expansion for four-dimensions, which makes the existence of a double-scaling limit for this theory doubtful.Comment: 6, BRX-TH-33

Rigid-body motion extracted from total motion of a flexible body

Control system eliminates or reduces flexibility effects on the manual and automatic control of large flexible vehicles. It extracts rigid-body and flexible-body motion and adapts well when a flexible-body frequency coincides or nearly coincides with the control mode frequency

Means for suppressing or attenuating bending motion of elastic bodies Patent

Development of systems for automatically and continually suppressing or attenuating bending motion in elastic bodie

Measures of pilot performance during V/TOL aircraft landings on ships at sea

Simulation experiments to determine the feasibility of landing V/TOL aircraft on ships at sea were studied. The motion and attitude of the aircraft relative to the landing platform was known at the instant of touchdown. The success of these experiments depended on the ability of the experimenter to measure the pilot's performance during the landing maneuver. To facilitate these measurements, the equations describing the motion of the aircraft and its attitude relative to the landing platform are presented in a form which is suitable for simulation purposes