29,680 research outputs found

    Loss Attitudes in the U.S. Population: Evidence from Dynamically Optimized Sequential Experimentation (Dose)

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    We introduce DOSE - Dynamically Optimized Sequential Experimentation - and use it to estimate individual-level loss aversion in a representative sample of the U.S. population (N = 2;000). DOSE elicitations are more accurate, more stable across time, and faster to administer than standard methods. We find that around 50% of the U.S. population is loss tolerant. This is counter to earlier findings, which mostly come from lab/student samples, that a strong majority of participants are loss averse. Loss attitudes are correlated with cognitive ability: loss aversion is more prevalent in people with high cognitive ability, and loss tolerance is more common in those with low cognitive ability. We also use DOSE to document facts about risk and time preferences, indicating a high potential for DOSE in future research

    Parallel Anisotropic Unstructured Grid Adaptation

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    Computational Fluid Dynamics (CFD) has become critical to the design and analysis of aerospace vehicles. Parallel grid adaptation that resolves multiple scales with anisotropy is identified as one of the challenges in the CFD Vision 2030 Study to increase the capacity and capability of CFD simulation. The Study also cautions that computer architectures are undergoing a radical change and dramatic increases in algorithm concurrency will be required to exploit full performance. This paper reviews four different methods to parallel anisotropic grid generation. They cover both ends of the spectrum: (i) using existing state-of-the-art software optimized for a single core and modifying it for parallel platforms and (ii) designing and implementing scalable software with incomplete, but rapidly maturating functionality. A brief overview for each grid adaptation system is presented in the context of a telescopic approach for multilevel concurrency. These methods employ different approaches to enable parallel execution, which provides a unique opportunity to illustrate the relative behavior of each approach. Qualitative and quantitative metric evaluations are used to draw lessons for future developments in this critical area for parallel CFD simulation

    Breaking Trends and the Prebisch-Singer Hypothesis: A Further Investigation

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    This paper examines the Prebisch-Singer Hypothesis employing new time se- ries procedures that are robust to the nature of persistence in the commodity price shocks, thereby obviating the need for unit root pretesting. Speci…cally, the proce- dures allow consistent estimation of the number of structural breaks in the trend function as well as facilitate the distinction between trend breaks and pure level shifts. In comparison with past studies, we …nd fewer cases of commodities that display negative trends thereby weakening the case for the Prebisch-Singer Hypoth- esis. Finally, a new set of powerful unit root tests allowing for structural breaks under both the null and alternative hypotheses is applied to determine whether the underlying commodity price series can be characterized as di¤erence or trend sta- tionary processes. Relative to the extant literature, we …nd more evidence in favor of trend stationarity suggesting that real commodity price shocks are mostly of a transitory nature.primary commodity prices, structural breaks, trend functions, Prebisch- Singer Hypothesis, unit roots, Demand and Price Analysis, Marketing, Research Methods/ Statistical Methods, 013, C22,

    Timing Measurement Platform for Arbitrary Black-Box Circuits Based on Transition Probability

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