Data compressor Patent

Description of system for recording and reading out data related to distribution of occurrence of plurality of event

Demonstration of a quantile system for compression of data from deep space probes

Quantile system of data compression for space telemetr

Voting Squared: Quadratic Voting in Democratic Politics

Conventional democratic institutions aggregate preferences poorly. The norm of one-person-one-vote with majority rule treats people fairly by giving everyone an equal chance to influence outcomes but fails to give proportional weight to people whose interests in a social outcome are stronger than those of other people. This problem leads to the familiar phenomenon of tyranny of the majority. Various institutions that have been tried or proposed over the years to correct this problem-including supermajority rule, weighted voting, cumulative voting, mixed constitutions, executive discretion, and judicially protected rights-all badly misfire in various ways, for example, by creating gridlock or corruption. This Article proposes a new form of political decisionmaking based on the theory of quadratic voting. It explains how quadratic voting solves the preference-aggregation problem by giving proper weight to preferences of varying intensity, how it can be incorporated into political institutions, and why it should improve equity

Voting Squared: Quadratic Voting in Democratic Politics

Conventional democratic institutions aggregate preferences poorly. The norm of one-person-one-vote with majority rule treats people fairly by giving everyone an equal chance to influence outcomes, but fails to give proportional weight to people whose int

An FDA for Financial Innovation: Applying the Insurable Interest Doctrine to Twenty-First-Century Financial Markets

The financial crisis of 2008 was caused in part by speculative investment in complex derivatives. In enacting the Dodd-Frank Act, Congress sought to address the problem of speculative investment, but merely transferred that authority to various agencies, which have not yet found a solution. We propose that when firms invent new financial products, they be forbidden to sell them until they receive approval from a government agency designed along the lines of the FDA, which screens pharmaceutical innovations. The agency would approve financial products if they satisfy a test for social utility that focuses on whether the product will likely be used more often for hedging than for speculation. Other factors may be addressed if the answer is ambiguous. This approach would revive and make quantitatively precise the common-law insurable interest doctrine, which helped control financial speculation before deregulation in the 1990s

Single-channel digital command-detection system

System, fabricated of highly-reliable digital logic elements, operates on binary pulse-code-modulated signals and derives internal synchronization from data signal. All-digital implementation of detector develops synchronization from data signal by computer cross-correlation of command modulation signal with its expected forms in sequence and adjusts detector phases in accordance with correlation peaks

Method and apparatus for a single channel digital communications system

A method and apparatus are described for synchronizing a received PCM communications signal without requiring a separate synchronizing channel. The technique provides digital correlation of the received signal with a reference signal, first with its unmodulated subcarrier and then with a bit sync code modulated subcarrier, where the code sequence length is equal in duration to each data bit

The Pricing of Event Risks with Parameter Uncertainty

Financial instruments whose payoffs are linked to exogenous events, such as the occurrence of a natural catastrophe or an unusual weather pattern depend crucially on actuarial models for determining event (e.g., default) probabilities. In many instances, investors appear to receive premiums far in excess of these modeled actuarial probabilities, even for event risks that are uncorrelated with returns on other financial assets. Some have attributed these larger spreads to uncertainty in the probabilities generated by the models. We provide a simple model of such 'parameter uncertainty' and demonstrate how it affects rational investors' demand for event risk exposures. We show that while parameter uncertainty does indeed affect bond spreads, it does not tend to increase spreads by much. Indeed, the spread increases due to parameter uncertainty in our numerical examples are on the order of only 1-2 basis points. Moreover, in many instances, including those that have the most sensible correlation settings, parameter uncertainty tends to decrease the size of bond spreads. We therefore argue that parameter uncertainty does not appear to be a satisfactory explanation for high event-risk returns.