Action and valence modulate choice and choice-induced preference change.

Choices are not only communicated via explicit actions but also passively through inaction. In this study we investigated how active or passive choice impacts upon the choice process itself as well as a preference change induced by choice. Subjects were tasked to select a preference for unfamiliar photographs by action or inaction, before and after they gave valuation ratings for all photographs. We replicate a finding that valuation increases for chosen items and decreases for unchosen items compared to a control condition in which the choice was made post re-evaluation. Whether choice was expressed actively or passively affected the dynamics of revaluation differently for positive and negatively valenced items. Additionally, the choice itself was biased towards action such that subjects tended to choose a photograph obtained by action more often than a photographed obtained through inaction. These results highlight intrinsic biases consistent with a tight coupling of action and reward and add to an emerging understanding of how the mode of action itself, and not just an associated outcome, modulates the decision making process

How do Households Value the Future? Evidence from Property Taxes

Despite the near ubiquity of inter-temporal choice, there is little consensus on the rate at which individuals trade present and future costs and benefits. We contribute to this debate by estimating discount rates from extensive data on housing transactions and spatio-temporal variation in property taxes in England. Our findings imply longterm average discount rates that are between 3 and 4%. The close correspondence to prevailing market interest rates gives little reason to suggest that households misoptimise by materially undervaluing very long term financial flows in this high stakes context

Order batching in multi-server pick-and-sort warehouses.

In many warehouses, customer orders are batched to profit from a reduction in the order picking effort. This reduction has to be offset against an increase in sorting effort. This paper studies the impact of the order batching policy on average customer order throughput time, in warehouses where the picking and sorting functions are executed separately by either a single operator or multiple parallel operators. We present a throughput time estimation model based on Whitt's queuing network approach, assuming that the number of order lines per customer order follows a discrete probability distribution and that the warehouse uses a random storage strategy. We show that the model is adequate in approximating the optimal pick batch size, minimizing average customer order throughput time. Next, we use the model to explore the different factors influencing optimal batch size, the optimal allocation of workers to picking and sorting, and the impact of different order picking strategies such as sort-while-pick (SWP) versus pick-and-sort (PAS)Order batching; Order picking and sorting; Queueing; Warehousing;

From e-trash to e-treasure: how value can be created by the new e-business models for reverse logistics

Reverse logistics, that is, all operations related to the reuse of used products, excess inventory and packaging materials, gain increasing attention globally both for their promising financial potentials, the sustainable growth alternative they offer and the environmental positive impact they have. In this paper, we introduce reverse logistics and we explain how the adoption of e-commerce provides new possibilities to existing business models and what are the new e-business models in reverse logistics that have emerged. We compare these three new e-business models, namely, returns aggregators, specialty locators and integrated solution providers on a number of aspects and identify keys for their competitive advantage. Finally, we discuss conceptual and actual opportunities for these e-business models to thrive and advance and present some e-commerce tools that are being developed with the aim to address the distributed, dynamic and knowledge-intensive aspects of applications that contribute to the advancement of e-businesses in the field of reverse logistics.e-commerce;Reverse logistics;e-business models

Imaging Pulsed Laser Deposition oxide growth by in-situ Atomic Force Microscopy

To visualize the topography of thin oxide films during growth, thereby enabling to study its growth behavior quasi real-time, we have designed and integrated an atomic force microscope (AFM) in a pulsed laser deposition (PLD) vacuum setup. The AFM scanner and PLD target are integrated in a single support frame, combined with a fast sample transfer method, such that in-situ microscopy can be utilized after subsequent deposition pulses. The in-situ microscope can be operated from room temperature (RT) up to 700$^\circ$C and at (process) pressures ranging from the vacuum base pressure of 10$^{-6}$ mbar up to 1 mbar, typical PLD conditions for the growth of oxide films. The performance of this instrument is demonstrated by resolving unit cell height surface steps and surface topography under typical oxide PLD growth conditions.Comment: 8 pages, 8 figure

Electronic coupling between Bi nanolines and the Si(001) substrate: An experimental and theoretical study

Atomic nanolines are one dimensional systems realized by assembling many atoms on a substrate into long arrays. The electronic properties of the nanolines depend on those of the substrate. Here, we demonstrate that to fully understand the electronic properties of Bi nanolines on clean Si(001) several different contributions must be accounted for. Scanning tunneling microscopy reveals a variety of different patterns along the nanolines as the imaging bias is varied. We observe an electronic phase shift of the Bi dimers, associated with imaging atomic p-orbitals, and an electronic coupling between the Bi nanoline and neighbouring Si dimers, which influences the appearance of both. Understanding the interplay between the Bi nanolines and Si substrate could open a novel route to modifying the electronic properties of the nanolines.Comment: 6 pages (main), 2 pages (SI), accepted by Phys. Rev.

Rocketing rents the magnitude and attenuation of agglomeration economies in the commercial property market

Rocketing rents in urban areas are likely explained by agglomeration economies. This paper measures the impact of these external economies on commercial property values using unique micro�]data on commercial rents and employment. A measure of agglomeration is employed that is continuous over space, avoiding the modifiable areal unit problem. To distinguish agglomeration economies from unobserved endowments and shocks, I use temporal variation in densities and instrumental variables. The spatial extent of agglomeration economies is determined by estimating a spatial bandwidth within the model. The results show that agglomeration economies have a considerable impact on rents: a standard deviation increase in employment density leads to an increase in rents of about 10 percent. The geographical extent of these benefits is about 15 kilometres. The bias of ignoring time�]invariant unobserved endowments and unobserved shocks seems to be limited