An experimental methodology testing for prudence and third-order preferences

We propose an experimental method to test individuals for prudence (i.e. downside risk aversion) outside the expected utility framework. Our method relies on a novel representation of compound lotteries which allows for a systematic parameterization that captures the full generality of prudence. Therefore, we develop a general technique for lottery calibration in experiments. Since we investigate a very subtle third-order property we test our method in the laboratory employing a factorial design. We find that it yields robust results and that prudence is observed on the aggregate as well as on the individual level. Further we show that preferences based on statistical moments, in particular skewness seeking, can at most approximately explain individuals' behavior in the experiment.Decision making under uncertainty, risk preferences, prudence, downside risk, statistical moments, laboratory experiment

Diablo canyon power plant site ecological study Quarterly Report No. 1; July 1 - September 30, 1973

The second phase of ecological studies at the Diablo Canyon Power Plant site was initiated in July 1973. The first, phase conducted during 1970-71 involved baseline ecological surveys with special reference to abalone and bony fishes. The objectives of this second phase are to quantitativey monitor abalone and algal communities, including predators and competitors, along permanent intertidal and subtidal transects established during the first phase. During the quarter nine permanent transects were located and marked with new buoys. Surveys on seven of these transects were completed, and the commercial sea urchin and red abalone fisheries operating in the Diablo Cove area were monitored. Sea otter activities between Diablo Cove and Pt. Buchon were recorded to determine the location of the herd and their general food habits. Little evidence of feeding activity has been observed in Diablo Cove. Temperature tolerance studies, began in March 1973 on red abalones, were continued. Problems in obtaining viable abalone larvae hampered this project.(11pp.

Diablo Canyon Power Plant site ecological study Quarterly Report No. 2; October 1 - December 31, 1973

During the period October 1 - December 31, 1973, Fall surveys of permanent subtidal stations were completed with one station being surveyed. We were unable to locate 3 subtidal stations. Intertidal studies were initiated in November. A total of 12 random stations was surveyed. Interviews were conducted with commercial abalone fishermen working between Pt. Buchon to Pecho Rock. We continued to monitor the sea otter herd foraging between Pt. Buchon and Lion Rock. Progress was achieved in the abalone temperature tolerance studies when a successful spawning occurred. (20pp.

Wisdom Christology: How Jesus Becomes God\u27s Wisdom for Us

The Explorations in Biblical Theology series addresses the need for quality literature that attracts believing readers to good theology and builds there up in their faith. Each title in the series combines solid content with accessibility and readability-a valuable addition to the library of any college student, thoughtful lay reader, seminarian, or pastor. What is true wisdom? While contemporary culture locates it in self-absorption, the first-century apostles revealed how wisdom is located supremely in Jesus Christ. Daniel Ebert explains how Old Testament wisdom motifs are not only appropriated in New Testament Christology but also far surpassed in God\u27s Son.https://digitalcommons.cedarville.edu/faculty_books/1012/thumbnail.jp

Rethinking Regional Leadership in the Global Disorder

Current power transitions in the context of China's rise and US retrenchment have significantly conditioned the forms and effects of regional leadership across different world regions. Against this empirical background, this Special Issue gathers innovative conceptual and theoretical perspectives to study the links between regional leadership and multipolarity in Europe, the Middle East, post-Soviet Eurasia, South America and South Asia. The introductory article provides a conceptual base for defining and explaing regional leadership and discusses the key arguments and findings of the individual articles

Bound to Change: German Foreign Policy in the Networked Order

What are the primary sources of power in the evolving international order? This paper argues that governments of rising regional powers increasingly engage in informal advocacy, mediation and substitution networks to pursue their interests in the multipolar system. It provides empirical evidence for this claim by illustrating how Germany, described by many as Europe's current hegemon, entered or established multilateral networks to ameliorate its negotiation position. As one of the world's most connected states, Germany found itself structurally bound to participating in and seeking to shape multiple informal institutions. Not only due to it's lack of military power, Germany is thus likely to evolve into a state whose foreign policy effectiveness depends to a relatively large degree on its 'network power'. The pecularities of its political system, its European socialization and increasing international demands for German diplomatic leadership present conducive conditions for Berlin to play a protagonist role in the networked world order

Diablo Canyon Power Plant site ecological study Quarterly Report No. 3; January 1 - March 31, 1974

During the period January 1 - March 31, 1974, winter surveys of the permanent subtidal stations were initiated. Three stations were surveyed. We completed our winter random intertidal surveys; a total of 14 stations in Diablo Cove and the North Control Area were visited. The commercial sea urchin fishery resumed and we began interviewing fishermen again. Very little commercial abalone fishing occurred due to the one-month closed season and winter storms. We observed a sea otter in North Cove for the first time and harbor seals were also observcd on the eastern end of the south breakwater for the first time since we began our studies. (17pp.