3,705 research outputs found

    Frank Springer and New Mexico: From the Colfax County War to the Emergence of Modern Santa Fe

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    Review of: "Frank Springer and New Mexico: From the Colfax County War to the Emergence of Modern Santa Fe," by David L. Caffey

    Turbulent Chemical Diffusion in Convectively Bounded Carbon Flames

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    It has been proposed that mixing induced by convective overshoot can disrupt the inward propagation of carbon deflagrations in super-asymptotic giant branch stars. To test this theory, we study an idealized model of convectively bounded carbon flames with 3D hydrodynamic simulations of the Boussinesq equations using the pseudospectral code Dedalus. Because the flame propagation timescale is much longer than the convection timescale, we approximate the flame as fixed in space, and only consider its effects on the buoyancy of the fluid. By evolving a passive scalar field, we derive a {\it turbulent} chemical diffusivity produced by the convection as a function of height, Dt(z)D_{\rm t}(z). Convection can stall a flame if the chemical mixing timescale, set by the turbulent chemical diffusivity, DtD_{\rm t}, is shorter than the flame propagation timescale, set by the thermal diffusivity, Îş\kappa, i.e., when Dt>ÎşD_{\rm t}>\kappa. However, we find Dt<ÎşD_{\rm t}<\kappa for most of the flame because convective plumes are not dense enough to penetrate into the flame. Extrapolating to realistic stellar conditions, this implies that convective mixing cannot stall a carbon flame and that "hybrid carbon-oxygen-neon" white dwarfs are not a typical product of stellar evolution.Comment: Accepted to Ap

    Cognitive Constraints on Valuing Annuities

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    This paper documents consumers’ difficulty valuing life annuities. Using a purpose-built experiment in the American Life Panel, we show that the prices at which people are willing to buy annuities are substantially below the prices at which they are willing to sell them. We also find that buy values are negatively correlated with sell values and that the sell–buy valuation spread is negatively correlated with cognition. This spread is larger for those with less education, weaker numerical abilities, and lower levels of financial literacy. Our evidence contributes to the emerging literature on heterogeneity in financial decision-making abilities, particularly regarding retirement payouts

    Behavioral Impediments to Valuing Annuities: Complexity and Choice Bracketing

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    This paper examines two behavioral factors that diminish people’s ability to value a lifetime income stream or annuity, drawing on a survey of about 4,000 adults in a U.S. nationally representative sample. By experimentally varying the degree of complexity, we provide the first causal evidence that increasing the complexity of the annuity choice reduces respondents’ ability to value the annuity, measured by the difference between the sell and buy values people assign to the annuity. We also find that people’s ability to value an annuity increases when we experimentally induce them to think jointly about the annuitization decision as well as how quickly or slowly to spend down assets in retirement. Accordingly, we conclude that narrow choice bracketing is an impediment to annuitization, yet this impediment can be mitigated with a relatively straightforward intervention
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