25,819 research outputs found
Individual Expectations, Limited Rationality and Aggregate Outcomes
Recent studies suggest that the type of strategic environment or expectation feedback may have a large impact on whether the market learns the rational fundamental price. We present an experiment where the fundamental price experiences large unexpected shocks. Markets with negative expectation feedback (strategic substitutes) quickly converge to the new fundamental, while markets with positive expectation feedback (strategic complements) do not converge, but show under-reaction in the short run and over-reaction in the long run. A simple evolutionary selection model of individual learning explains these differences in aggregate outcomes.
Efficacy of crustal superfluid neutrons in pulsar glitch models
In order to assess the ability of purely crust-driven glitch models to match
the observed glitch activity in the Vela pulsar, we conduct a systematic
analysis of the dependence of the fractional moment of inertia of the inner
crustal neutrons on the stiffness of the nuclear symmetry energy at saturation
density . We take into account both crustal entrainment and the fact that
only a fraction of the core neutrons may couple to the crust on the
glitch-rise timescale. We use a set of consistently-generated crust and core
compositions and equations-of-state which are fit to results of low-density
pure neutron matter calculations. When entrainment is included at the level
suggested by recent microscopic calculations and the core is fully coupled to
the crust, the model is only able to account for the Vela glitch activity for a
1.4 star if the equation of state is particularly stiff MeV.
However, an uncertainty of about 10\% in the crust-core transition density and
pressure allows for the Vela glitch activity to be marginally accounted for in
the range MeV consistent with a range of experimental results.
Alternatively, only a small amount of core neutrons need be involved. If less
than 50\% of the core neutrons are coupled to the crust during the glitch, we
can also account for the Vela glitch activity using crustal neutrons alone for
EOSs consistent with the inferred range of . We also explore the possibility
of Vela being a high-mass neutron star, and of crustal entrainment being
reduced or enhanced relative to its currently predicted values.Comment: 10 pages, 6 figure
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