The optimal design of rewards in contests

Using contests to generate innovation has and is widely used. Such contests often involve offering a prize that depends upon the accomplishment (effort). Using an all-pay auction as a model of a contest, we determine the optimal reward for inducing innovation. In a symmetric environment, we find that the reward should be set to c(x)/c′(x) where c is the cost of producing an innovation of level x. In an asymmetric environment with two firms, we find that it is optimal to set different rewards for each firm. There are cases where this can be replicated by a single reward that depends upon accomplishments of both contestants.contests, innovation, mechanism design.

Photometric variability of candidate white dwarf binary systems from Palomar Transient Factory archival data

We present a sample of 59 periodic variables from the Palomar Transient Factory, selected from published catalogues of white dwarf (WD) candidates. The variability can likely be attributed to ellipsoidal variation of the tidally distorted companion induced by the gravity of the primary (WD or hot subdwarf) or to the reflection of hot emission by a cooler companion. We searched 11311 spectroscopically or photometrically selected WD candidates from three hot star/WD catalogues, using the Lomb-Scargle periodogram to single out promising sources. We present period estimates for the candidates, 45 of which were not previously identified as periodic variables, and find that most have a period shorter than a few days. Additionally, we discuss the eclipsing systems in our sample and present spectroscopic data on selected sources

In Situ Resource Utilization (ISRU II) Technical Interchange Meeting

This volume contains extended abstracts that have been accepted for presentation at the In Situ Resource Utilization (ISRU II) Technical Interchange Meeting, November 18-19, 1997, at the Lunar and Planetary Institute, Houston, Texas. Included are topics which include: Extraterrestrial resources, in situ propellant production, sampling of planetary surfaces, oxygen production, water vapor extraction from the Martian atmosphere, gas generation, cryogenic refrigeration, and propellant transport and storage

Government policy towards multi-national corporations

We analyze an environment with asymmetric information where a country tries to attract a multi-national corporation. The country can use both taxes and grants to meet its objective of maximizing net revenues. We show that when the country has private information it can often convey it via its choice of a tax-grant pair. When the tax rates are unbounded the country is able to extract the full surplus. The existence of an upper bound can in some cases reduce the payoff to a stronger country

Egocentric framing - one way people may fail in aswitch dilemma: evidence from excessive lane switching

types: ArticlePre-print version published in Munich Personal RePEc Archive. NOTICE: this is the author’s version of a work that was accepted for publication in Acta Psychologica. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Acta Psychologica, November 2013, 144, 604–616To study switching behavior, an experiment mimicking the state of a driver on the road was conducted. In each trial participants were given a chance to switch lanes. Despite the fact that lane switching had no sound rational basis, participants often switched lanes when the speed of driving in their lane on the previous trial was relatively slow. That tendency was discerned even when switching behavior had been sparsely reinforced, and was especially marked in almost a third of the participants, who manifested it consistently. The findings illustrate a type of behavior occuring in various contexts (e.g., stocks held in a portfolio, conduct pertinent for residual life expectancy, supermarket queues). We argue that this behavior may be due to a fallacy reminiscent of that arising in the well-known “envelopes problem”, in which each of two players holds a sum of money of which she knows nothing about except that it is either half or twice the amount held by the other player. Players may be paradoxically tempted to exchange assets, since an exchange fallaciously appears to always yield an expected value greater than whatever is regarded as the player’s present assets. We argue that the fallacy is due to egocentrically framing the problem as if the “amount I have” is definite, albeit unspecified, and show that framing the paradox acentrically instead eliminates the incentive to exchange assets. A possible psychological source for the human disposition to frame problems in a way that inflates expected gain is discussed. Finally, a heuristic meant to avert the source of the fallacy is proposed

Exotic Axions

We show that axion phenomenology may be significantly different than conventionally assumed in theories which exhibit late phase transitions (below the QCD scale). In such theories one can find multiple pseudoscalars with axion-like couplings to matter, including a string scale axion, whose decay constant far exceeds the conventional cosmological bound. Such theories have several dark matter candidates.Comment: 5 pages, 1 figure, References adde

Lattice Monte Carlo calculations for unitary fermions in a finite box

We perform lattice Monte Carlo simulations for up to 66 unitary fermions in a finite box using a highly improved lattice action for nonrelativistic spin 1/2 fermions. We obtain a value of $0.366^{+0.016}_{-0.011}$ for the Bertsch parameter, defined as the energy of the unitary Fermi gas measured in units of the free gas energy in the thermodynamic limit. In addition, for up to four unitary fermions, we compute the spectrum of the lattice theory by exact diagonalization of the transfer matrix projected onto irreducible representations of the octahedral group for small to moderate size lattices, providing an independent check of our few-body simulation results. We compare our exact numerical and simulation results for the spectrum to benchmark studies of other research groups, as well as perform an extended analysis of our lattice action improvement scheme, including an analysis of the errors associated with higher partial waves and finite temporal discretization.Comment: Significant revisions from previous version. Included data at a larger volume and performed an infinite volume extrapolation of the Bertsch parameter. Published versio

Caps on Political Lobbying: Comment.

The article focuses on spending caps, and compares those used in politics with many examples in sports economics. In 1999, the party of Israeli Prime Minister Ehud Barak was fined $3.2 million for exceeding Israel's campaign finance caps. Financing caps by the National Collegiate Athletics Association did not prevent The University of Oregon from spending$3 million on their football locker room. Mathematical models are provided in order to prove that spending caps will not necessarily have their intended effect, as they increase the total expended amount by increasing the risk of being fined