Mutual Fund Expense Disclosures: A Behavioral Perspective

Mutual funds have enjoyed phenomenal growth with their numbers exceeding the number of public companies and their assets aggregating in excess of $9 trillion. Increasingly they are the investment instrument of choice by the proverbial widows, widowers and orphans, and a few school teachers are included as well. But how are best can that choice be one that is not only informed but informed in a way more likely to elicit a wise decision? This paper examines from a behavioral perspective how regulation can best disclose information related to two key factors for investors to compare competing mutual funds: fund returns and fund expenses. Our analysis reflects that the current disclosure process is deficient because it fails to reflect the insights of research on judgment and decision making, and particularly the need to distinguish between the availability of information and its processability by its user. The message of our article is straightforward: if regulators adhered to the insights provided by our paper, not only investors, but also the fund\u27s directors, would be greatly empowered so that better returns and lower costs could be expected

Progress Report to the TNRC for Analysis of the Economics of Atrazine Remediation for Representative Grain Farms in the Aquilla Watershed, Hill County, Texas: Subtasks 4.0-4.4

Four alternative BMPs for atrazine remediation were reported by Harmon and Wang for the study area. The BMPs involved alternative incorporation practices, tillage operations, and sediment ponds. Harmon and Wang reported no statistical difference in corn yields under the alternative BMPs. An economic analysis of four alternative best management practices (BMPs) for atrazine remediation in Hill County, Texas, was performed by the Agricultural and Food Policy Center (AFPC) at Texas A&M University. Using the farm-level economic simulation model FLIPSIM, AFPC scientists analyzed the financial effects of the alternative BMPs on the Texas Blackland Prairie representative farm. This farm consists of 2,000 dryland acres, divided among corn (600 acres), sorghum (750 acres), wheat (250 acres), and native pasture (150 acres). This farm also maintains a small beef cowherd. Regularly updated, the AFPC maintains more than 80 farms across the nation that form the basis for probabilistic-based agricultural policy evaluation.Agricultural and Food Policy, Resource /Energy Economics and Policy,

Shuttle orbiter radar cross-sectional analysis

Theoretical and model simulation studies on signal to noise levels and shuttle radar cross section are described. Pre-mission system calibrations, system configuration, and postmission system calibration of the tracking radars are described. Conversion of target range, azimuth, and elevation into radar centered east north vertical position coordinates are evaluated. The location of the impinging rf energy with respect to the target vehicles body axis triad is calculated. Cross section correlation between the two radars is presented

Forecasting Intraday Time Series with Multiple Seasonal Cycles Using Parsimonious Seasonal Exponential Smoothing

This paper concerns the forecasting of seasonal intraday time series. An extension of Holt-Winters exponential smoothing has been proposed that smoothes an intraday cycle and an intraweek cycle. A recently proposed exponential smoothing method involves smoothing a different intraday cycle for each distinct type of day of the week. Similar days are allocated identical intraday cycles. A limitation is that the method allows only whole days to be treated as identical. We introduce an exponential smoothing formulation that allows parts of different days of the week to be treated as identical. The result is a method that involves the smoothing and initialisation of fewer terms than the other two exponential smoothing methods. We evaluate forecasting up to a day ahead using two empirical studies. For electricity load data, the new method compares well with a range of alternatives. The second study involves a series of arrivals at a call centre that is open for a shorter duration at the weekends than on weekdays. By contrast with the previously proposed exponential smoothing methods, our new method can model in a straightforward way this situation, where the number of periods on each day of the week is not the same.Exponential smoothing; Intraday data; Electricity load; Call centre arrivals.

Geology of the Venus equatorial region from Pioneer Venus radar imaging

The surface characteristics and morphology of the equatorial region of Venus were first described by Masursky et al. who showed this part of the planet to be characterized by two topographic provinces, rolling plains and highlands, and more recently by Schaber who described and interpreted tectonic zones in the highlands. Using Pioneer Venus (PV) radar image data (15 deg S to 45 deg N), Senske and Head examined the distribution, characteristics, and deposits of individual volcanic features in the equatorial region, and in addition classified major equatorial physiographic and tectonic units on the basis of morphology, topographic signature, and radar properties derived from the PV data. Included in this classification are: plains (undivided), inter-highland tectonic zones, tectonically segmented linear highlands, upland rises, tectonic junctions, dark halo plains, and upland plateaus. In addition to the physiographic units, features interpreted as coronae and volcanic mountains have also been mapped. The latter four of the physiographic units along with features interpreted to be coronae

ANALYZING PEST CONTROL STRATEGIES FOR COTTON WITH AN ENVIRONMENTAL IMPACT MATRIX

Environmental Economics and Policy,

Spacecraft component heater control system

A heater control circuit is disclosed as being constructed in a single integrated circuit, with the integrated circuit conveniently mounted proximate to a spacecraft component requiring temperature control. Redundant heater controllers control power applied to strip heaters disposed to provide heat to a component responsive to sensed temperature from temperature sensors. Signals from these sensors are digitized and compared with a dead band temperature and set point temperature stored in memory to generate an error signal if the sensed temperature is outside the parameter stored in the memory. This error signal is utilized by a microprocessor to selectively instruct the heater controllers to apply power to the strip heaters. If necessary, the spacecraft central processor may access or interrogate the microprocessor in order to alter the set point temperature and dead band temperature range to obtain operational data relating to the operation of an integrated circuit for relaying to the ground control, or to switch off faulty components