The implication of the hyperbolic discount model for annuitisation decisions

The low demand for immediate annuities at retirement has been a long-standing puzzle. We show that a hyperbolic discount model can explain this behaviour and results in the attractiveness of long-term deferred annuities. With a set of benchmark assumptions, we find that retirees would be willing to pay a much higher price than the actuarial fair price for annuities with longer deferred periods. Moreover, if governments were to introduce a pre-commitment device which requires pensioners to make annuitisation decisions around ten years before retirement, the take up rate of annuities could become higher

Minimum Bit-Error Rate Design for Space-Time Equalisation-Based Multiuser Detection

A novel minimum bit-error rate (MBER) space–time equalization (STE)-based multiuser detector (MUD) is proposed for multiple-receive-antenna-assisted space-division multiple-access systems. It is shown that the MBER-STE-aided MUD significantly outperforms the standard minimum mean-square error design in terms of the achievable bit-error rate (BER). Adaptive implementations of the MBER STE are considered, and both the block-data-based and sample-by-sample adaptive MBER algorithms are proposed. The latter, referred to as the least BER (LBER) algorithm, is compared with the most popular adaptive algorithm, known as the least mean square (LMS) algorithm. It is shown that in case of binary phase-shift keying, the computational complexity of the LBER-STE is about half of that required by the classic LMS-STE. Simulation results demonstrate that the LBER algorithm performs consistently better than the classic LMS algorithm, both in terms of its convergence speed and steady-state BER performance. Index Terms—Adaptive algorithm, minimum bit-error rate (MBER), multiuser detection (MUD), space–time processing

The Fluctuating Pressure Field in a Supersonic Turbulent Boundary Layer

The fluctuating pressure field in a supersonic turbulent boundary laye

A Robust Nonlinear Beamforming Assisted Receiver for BPSK Signalling

Nonlinear beamforming designed for wireless communications is investigated. We derive the optimal nonlinear beamforming assisted receiver designed for binary phase shift keying (BPSK) signalling. It is shown that this optimal Bayesian beamformer significantly outperforms the classic linear minimum mean square error (LMMSE) beamformer at the expense of an increased complexity. Hence the achievable user capacity of the wireless system invoking the proposed beamformer is substantially enhanced. In particular, when the angular separation between the desired and interfering signals is below a certain threshold, a linear beamformer will fail while a nonlinear beamformer can still perform adequately. Blockadaptive implementation of the optimal Bayesian beamformer can be realized using a Radial Basis Function network based on the Relevance Vector Machine (RVM) for classification, and a recursive sample-by-sample adaptation is proposed based on an enhanced ?-means clustering aided recursive least squares algorithm

Adaptive MBER space-time DFE assisted multiuser detection for SDMA systems

In this contribution we propose a space-time decision feedback equalization (ST-DFE) assisted multiuser detection (MUD) scheme for multiple antenna aided space division multiple access systems. A minimum bit error rate (MBER) design is invoked for the MUD, which is shown to be capable of improving the achievable bit error rate performance over that of the minimum mean square error (MMSE) design. An adaptive MBER ST-DFE-MUD is proposed using the least bit error rate algorithm, which is demonstrated to consistently outperform the least mean square (LMS) algorithm, while achieving a lower computational complexity than the LMS algorithm for the binary signalling scheme. Simulation results demonstrate that theMBER ST-DFE-MUD is more robust to channel estimation errors as well as to error propagation imposed by decision feedback errors, compared to the MMSE ST-DFE-MUD

Radial Basis Function Aided Space-Time Equalization in Dispersive Fading Uplink Environments

A novel Radial Basis Function Network (RBFN) assisted Decision-Feedback aided Space-Time Equalizer (DF-STE) designed for receivers employing multiple antennas is proposed. The Bit Error Rate (BER) performance of the RBFN aided DF-STE is evaluated when communicating over correlated Rayleigh fading channels, whose Channel Impulse Response (CIR) is estimated using a Kalman filtering based channel estimator. The proposed receiver structure outperforms the linear Minimum Mean-Squared Error benchmarker and it is less sensitive to both error propagation and channel estimation errors