The Behavioural Components of Risk Aversion

The risk premium is affected by loss aversion and probability distortions as well as utility curvature. We introduce two variants - the total risk premium relative to objective expected value, and the subjective risk premium relative to perceived expected value. Approximate solutions for each provide analogies to the Pratt-Arrow coefficient of risk aversion (showing how risk attitude depends on each behavioural component), and sufficient conditions for risk aversion. Earlier results of Levy and Levy (2002) which examined decision weights in isolation are revised and extended to show how the curvature and loss aversion conditions are affected by probabilitydistortions

Rethinking Risk: Aspiration as Pure Risk

There exists no satisfactory theory of risk in current normative decision theories. Notions based on utility curvature, loss aversion and probability weighting are derivative, cannot be applied to non-numerical consequences, and are not psychologically intuitive. I develop a Pure Risk theory which resolves these problems, is consistent with existing normative theories, and both internalises and generalises the intuitive notion of risk being related to the probability of not achieving one’s aspirations. The theory shows that existing models are misspecifed. Effects hitherto modelled as loss aversion or utility curvature may be due instead to Pure Risk

Truth, Lies, and Copyright

Fake news may be trending right now, but fake news is not the only source of fake facts that we consume. We encounter fake facts every day in the historical or biographical books we read, the movies we watch, the maps we study, the tele-phone directories and dictionaries we reference, and the religious or spiritual guides we consult. While it is well-established that copyright does not protect facts because facts are discovered rather than created, fake facts are created and can often be as original and creative as fiction. This Article is the first to offer a comprehensive analysis of copyright protection of fake facts contained in fake news and other sources. It details the different categories of fake facts we encounter today and courts’ inconsistent protection of fake facts under copyright law. Even though copyright law may technically protect fake facts as original expression fixed in a tangible medium, this Article argues that the public interest in promoting efficiency, fairness, and production of socially valuable works justify treating fake facts as unprotectable facts under copyright law. Specifically, courts should apply copyright law’s factual estoppel doctrine to treat fake facts as unprotectable facts in infringement cases where an author previously held out fake facts as facts, with the intent that the public rely on the fake facts as facts, if the public could believe the fake facts to be true

Prisoners of War as Library Users

One does not usually associate libraries and study classes with amenities provided for internees in Prisoner of War camps in the First World War. It was surprising then for me, as Librarian/Archivist of the Canadian War Museum, to find evidence in our Library/Archives of well-organized libraries in the First World War internment camps in Germany. My introduction to POW library users in this war came about as I was undertaking a preliminary inventory of the rich resources of the Canadian War Museum (CWM) Archives. In the CWM Archives are two files related to libraries in POW camps in Germany. One file (Accession 19800077) holds letters from 2nd Lieutenant Archibald Campbell, a Canadian, sent to his parents from his POW camp in Germany. The other file (Accession 19710056) contains information on officially sanctioned libraries in German POW camps. These discoveries provoked the initial interest and prompted me to see as an experiment what else could be found to flesh out this theme amongst the resources contained in the CWM’s archives and library. The results were sufficiently interesting, not only for demonstrating the potential of our archives/library but in elucidating this hitherto neglected theme in First World War history, as to merit being brought to the attention of the readership of this journal

CMB Telescopes and Optical Systems

The cosmic microwave background radiation (CMB) is now firmly established as a fundamental and essential probe of the geometry, constituents, and birth of the Universe. The CMB is a potent observable because it can be measured with precision and accuracy. Just as importantly, theoretical models of the Universe can predict the characteristics of the CMB to high accuracy, and those predictions can be directly compared to observations. There are multiple aspects associated with making a precise measurement. In this review, we focus on optical components for the instrumentation used to measure the CMB polarization and temperature anisotropy. We begin with an overview of general considerations for CMB observations and discuss common concepts used in the community. We next consider a variety of alternatives available for a designer of a CMB telescope. Our discussion is guided by the ground and balloon-based instruments that have been implemented over the years. In the same vein, we compare the arc-minute resolution Atacama Cosmology Telescope (ACT) and the South Pole Telescope (SPT). CMB interferometers are presented briefly. We conclude with a comparison of the four CMB satellites, Relikt, COBE, WMAP, and Planck, to demonstrate a remarkable evolution in design, sensitivity, resolution, and complexity over the past thirty years.Comment: To appear in: Planets, Stars and Stellar Systems (PSSS), Volume 1: Telescopes and Instrumentatio

Doping in the UK: Alain and Dwain, Rio and Greg – Not Guilty?

As ‘contractors to contest’, athletes must accept certain constraints, such as that against doping, in order to count as acceptable opponents. This essay is an attempt to explore the issue of doping in sport via applied ethics, showing how complicated and messy individual cases can be, and how our judgements about them are coloured by a range of moral possibilities and intersecting contextual features. Sometimes there just aren't any clear-cut answers. It examines four recent cases involving UK athletes, which present us with different though overlapping features, opening up a wide range of issues for consideration. It explores the adequacy and morality of the actions of the athletes and their support teams, and of certain rules, procedures, decisions and judgements surrounding these cases

Frustration Driven Stripe Domain Formation in Co/Pt Multilayer Films

We report microscopic mechanisms for an unusual magnetization reversal behavior in Co/Pt multilayers where some of the first-order reversal curves protrude outside of the major loop. Transmission x-ray microscopy reveals a fragmented stripe domain topography when the magnetic field is reversed prior to saturation, in contrast to an interconnected pattern when reversing from a saturated state. The different domain nucleation and propagation behaviors are due to unannihilated domains from the prior field sweep. These residual domains contribute to random dipole fields that impede the subsequent domain growth and prevent domains from growing as closely together as for the interconnected pattern.Comment: 13 pages, 3 figures, to appear in AP

'Dressage Is Full of Queens!' Masculinity, Sexuality and Equestrian Sport

Attitudes towards sexuality are changing and levels of cultural homophobia decreasing, yet there remain very few openly gay men within sport. As a proving ground for heteromasculinity, sport has traditionally been a hostile environment for gay men. This article is based on an ethnographic study within a sporting subworld in which gay men do appear to be accepted: equestrian sport. Drawing on inclusive masculinity theory, equestrian sport is shown to offer an unusually tolerant environment for gay men in which heterosexual men of all ages demonstrate low levels of homophobia. Inclusive masculinity theory is a useful framework for exploring the changing nature of masculinities and this study demonstrates that gay men are becoming increasingly visible and accepted within once unreceptive locales, such as sport and rural communities. However, this more tolerant attitude is purchased at the expense of a subordinated feminine Other, perpetuating the dominance of men within competitive sport. © The Author(s) 2012