Endogenous Selection and Moral Hazard in Compensation Contracts

The two major paradigms in the theoretical agency literature are moral hazard (i.e., hidden action) and adverse selection (i.e., hidden information). Prior research typically solves these problems in isolation, as opposed to simultaneously incorporating both adverse selection and moral hazard features. We formulate two complementary generalized principal-agent models that incorporate features observed in real-world contracting environments (e.g., agents with power utility and limited liability, lognormal stock price distributions, and stock options) as mathematical programs with equilibrium constraints (MPEC). We use state-of-the-art numerical algorithms to solve the resulting models. We find that many of the standard results no longer obtain when wealth effects are present. We also develop a new measure of incentives calculated as the change in the agent\u27s certainty equivalent under the optimal contract for a change in action evaluated at the optimal action. This measure facilitates interpretation of the resulting contracts and allows us to compare contracts across different contracting environments

Persistent spin current in mesoscopic ferrimagnetic spin ring

Using a semiclassical approach, we study the persistent magnetization current of a mesoscopic ferrimagnetic ring in a nonuniform magnetic field. At zero temperature, there exists persistent spin current because of the quantum fluctuation of magnons, similar to the case of an antiferromagnetic spin ring. At low temperature, the current shows activation behavior because of the field-induced gap. At higher temperature, the magnitude of the spin current is proportional to temperature T, similar to the reported result of a ferromagnetic spin ring.Comment: 6 pages, 3 figures, one more reference adde

Machine Learning Based Approach for Indoor Localization Using Ultra-Wide Bandwidth (UWB) System for Industrial Internet of Things (IIoT)

With the rapid development of wireless communication technology and the emergence of the Industrial Internet of Things (IIoT)s applications, high-precision Indoor Positioning Services (IPS) are urgently required. While the Global Positioning System (GPS) has been a key technology for outdoor localization, its limitation for indoor environments is well known. UltraWideBand (UWB) can help provide a very accurate position or localization for indoor harsh propagation environments. This paper focuses on improving the accuracy of the UWB indoor localization system including the Line-of-Sight (LoS) and NonLine-of-Sight (NLoS) conditions by developing a Machine Learning (ML) algorithm. In this paper, a Naive Bayes (NB) ML algorithm is developed for UWB IPS. The performance of the developed algorithm is evaluated by Receiving Operating Curves (ROC)s. The results indicate that by employing the NB based ML algorithm significantly improves the localization accuracy of the UWB system for both the LoS and NLoS environmen

Interaction of Individual Skyrmions in Nanostructured Cubic Chiral Magnet

We report the direct evidence of field-dependent character of the interaction between individual magnetic skyrmions as well as between skyrmions and edges in B20-type FeGe nanostripes observed by means of high resolution Lorentz transmission electron microscopy. It is shown that above certain critical values of external magnetic field the character of such long-range skyrmion interactions change from attraction to repulsion. Experimentally measured equilibrium inter-skyrmion and skrymion-edge distances as function of applied magnetic field shows quantitative agreement with the results of micromagnetic simulations. Important role of demagnetizing fields and internal symmetry of three-dimensional magnetic skyrmions are discussed in details.Comment: accepted in PR

Through Their Lens: The Potential of Photovice for Documentation of Environmental Perspectives among Kenyan Teachers

This study explores the potential of photovoice for understanding environmental perspectives of teachers in the Narok District of Kenya. The objective of this paper is to share this photo-methodology with environmental educators so they may use it as an innovative methodological tool to understand the construction of environmental perspectives. The researchers analyzed the digital images and the accompanying narratives for themes emerging for each of the key terms. The researchers utilized Critical Visual Methodology to guide the data analysis. Each photograph was coded according to its site of audiencing (including both compositionality and social modalities). The themes - shares local knowledge, documents context, documents knowledge emerged from the participants’ photovoice. The researchers theorize this tool illustrated the ways in which this community valued the environment, their community, and the ways in which they conceptualize the solutions

Can interference patterns in the reflectance spectra of GaN epilayers give important information of carrier concentration?

Low-temperature reflectance spectra of a series of Si-doped GaN epilayers with different doping concentrations grown on sapphire by metal-organic chemical vapour deposition were measured. In addition to the excitonic polariton resonance structures at the band edge, interference oscillating patterns were observed in the energy region well below the band gap. The amplitudes of these oscillation patterns show a distinct dependence on the doping concentrations of the samples. From the thin-film optical interference principle, an approach connecting the amplitude of the interference oscillations and the impurity scattering was established. Good agreement between experiment and theory is achieved. © 2012 American Institute of Physics.published_or_final_versio

An Efficient OpenMP Loop Scheduler for Irregular Applications on Large-Scale NUMA Machines

International audienceNowadays shared memory HPC platforms expose a large number of cores organized in a hierarchical way. Parallel application programmers strug- gle to express more and more fine-grain parallelism and to ensure locality on such NUMA platforms. Independent loops stand as a natural source of paral- lelism. Parallel environments like OpenMP provide ways of parallelizing them efficiently, but the achieved performance is closely related to the choice of pa- rameters like the granularity of work or the loop scheduler. Considering that both can depend on the target computer, the input data and the loop workload, the application programmer most of the time fails at designing both portable and ef- ficient implementations. We propose in this paper a new OpenMP loop scheduler, called adaptive, that dynamically adapts the granularity of work considering the underlying system state. Our scheduler is able to perform dynamic load balancing while taking memory affinity into account on NUMA architectures. Results show that adaptive outperforms state-of-the-art OpenMP loop schedulers on memory- bound irregular applications, while obtaining performance comparable to static on parallel loops with a regular workload

Control interface concepts for CHARA 6-telescope fringe tracking with CHAMP+MIRC

This is the author accepted manuscript. The final version is available from SPIE via the DOI in this record.Cophasing six telescopes from the CHARA array, the CHARA-Michigan Phasetracker (CHAMP) and Michigan Infrared Combiner (MIRC) are pushing the frontiers of infrared long-baseline interferometric imaging in key scientific areas such as star- and planet-formation. Here we review our concepts and recent improvements on the CHAMP and MIRC control interfaces, which establish the communication to the real-time data recording & fringe tracking code, provide essential performance diagnostics, and assist the observer in the alignment and flux optimization procedure. For fringe detection and tracking with MIRC, we have developed a novel matrix approach, which provides predictions for the fringe positions based on cross-fringe information.This work was performed in part under contract with the California Institute of Technology (Caltech) funded by NASA through the Sagan Fellowship Program

Resolving Vega and the inclination controversy with CHARA/MIRC

Optical and infrared interferometers definitively established that the photometric standard Vega (alpha Lyrae) is a rapidly rotating star viewed nearly pole-on. Recent independent spectroscopic analyses could not reconcile the inferred inclination angle with the observed line profiles, preferring a larger inclination. In order to resolve this controversy, we observed Vega using the six-beam Michigan Infrared Combiner on the Center for High Angular Resolution Astronomy Array. With our greater angular resolution and dense (u,v)-coverage, we find Vega is rotating less rapidly and with a smaller gravity darkening coefficient than previous interferometric results. Our models are compatible with low photospheric macroturbulence and also consistent with the possible rotational period of ~0.71 days recently reported based on magnetic field observations. Our updated evolutionary analysis explicitly incorporates rapid rotation, finding Vega to have a mass of 2.15+0.10_-0.15 Msun and an age 700-75+150 Myrs, substantially older than previous estimates with errors dominated by lingering metallicity uncertainties (Z=0.006+0.003-0.002).Comment: Accepted for publication in ApJ Letter

Imaging the Algol Triple System in H Band with the CHARA Interferometer

Algol (Beta Per) is an extensively studied hierarchical triple system whose inner pair is a prototype semi-detached binary with mass transfer occurring from the sub-giant secondary to the main-sequence primary. We present here the results of our Algol observations made between 2006 and 2010 at the CHARA interferometer with the Michigan Infrared Combiner in the H band. The use of four telescopes with long baselines allows us to achieve better than 0.5 mas resolution and to unambiguously resolve the three stars. The inner and outer orbital elements, as well as the angular sizes and mass ratios for the three components are determined independently from previous studies. We report a significantly improved orbit for the inner stellar pair with the consequence of a 15% change in the primary mass compared to previous studies. We also determine the mutual inclination of the orbits to be much closer to perpendicularity than previously established. State-of-the-art image reconstruction algorithms are used to image the full triple system. In particular an image sequence of 55 distinct phases of the inner pair orbit is reconstructed, clearly showing the Roche-lobe-filling secondary revolving around the primary, with several epochs corresponding to the primary and secondary eclipses