The Affective Impact of Financial Skewness on Neural Activity and Choice

Few finance theories consider the influence of “skewness” (or large and asymmetric but unlikely outcomes) on financial choice. We investigated the impact of skewed gambles on subjects' neural activity, self-reported affective responses, and subsequent preferences using functional magnetic resonance imaging (FMRI). Neurally, skewed gambles elicited more anterior insula activation than symmetric gambles equated for expected value and variance, and positively skewed gambles also specifically elicited more nucleus accumbens (NAcc) activation than negatively skewed gambles. Affectively, positively skewed gambles elicited more positive arousal and negatively skewed gambles elicited more negative arousal than symmetric gambles equated for expected value and variance. Subjects also preferred positively skewed gambles more, but negatively skewed gambles less than symmetric gambles of equal expected value. Individual differences in both NAcc activity and positive arousal predicted preferences for positively skewed gambles. These findings support an anticipatory affect account in which statistical properties of gambles—including skewness—can influence neural activity, affective responses, and ultimately, choice

Detection of a Temperature Inversion in the Broadband Infrared Emission Spectrum of TrES-4

We estimate the strength of the bandpass-integrated thermal emission from the extrasolar planet TrES-4 at 3.6, 4.5, 5.8, and 8.0 micron using the Infrared Array Camera (IRAC) on the Spitzer Space Telescope. We find relative eclipse depths of 0.137 +/- 0.011%, 0.148 +/- 0.016%, 0.261 +/- 0.059%, and 0.318 +/- 0.044% in these four bandpasses, respectively. We also place a 2 sigma upper limit of 0.37% on the depth of the secondary eclipse in the 16 micron IRS peak-up array. These eclipse depths reveal that TrES-4 has an emission spectrum similar to that of HD 209458b, which requires the presence of water emission bands created by an thermal inversion layer high in the atmosphere in order to explain the observed features. TrES-4 receives more radiation from its star than HD 209458b and has a correspondingly higher effective temperature, therefore the presence of a temperature inversion in this planet's atmosphere lends support to the idea that inversions might be correlated with the irradiance received by the planet. We find no evidence for any offset in the timing of the secondary eclipse, and place a 3 sigma upper limit of |ecos(omega)|<0.0058 where e is the planet's orbital eccentricity and omega is the argument of pericenter. From this we conclude that tidal heating from ongoing orbital circulatization is unlikely to be the explanation for TrES-4's inflated radius.Comment: 10 pages in emulateapj format, 7 figures (some in color), accepted for publication in Ap

The Broadband Infrared Emission Spectrum of the Exoplanet TrES-3

We use the Spitzer Space Telescope to estimate the dayside thermal emission of the exoplanet TrES-3 integrated in the 3.6, 4.5, 5.8, and 8.0 micron bandpasses of the Infrared Array Camera (IRAC) instrument. We observe two secondary eclipses and find relative eclipse depths of 0.00346 +/- 0.00035, 0.00372 +/- 0.00054, 0.00449 +/- 0.00097, and 0.00475 +/- 0.00046, respectively in the 4 IRAC bandpasses. We combine our results with the earlier K band measurement of De Mooij et al. (2009), and compare them with models of the planetary emission. We find that the planet does not require the presence of an inversion layer in the high atmosphere. This is the first very strongly irradiated planet that does not have a temperature inversion, which indicates that stellar or planetary characteristics other than temperature have an important impact on temperature inversion. De Mooij & Snellen (2009) also detected a possible slight offset in the timing of the secondary eclipse in K band. However, based on our 4 Spitzer channels, we place a 3sigma upper limit of |ecos(w)| < 0.0056 where e is the planets orbital eccentricity and w is the longitude of the periastron. This result strongly indicates that the orbit is circular, as expected from tidal circularization theory.Comment: Accepted by Ap

Off-shell Behavior of the π ⁣− ⁣η\pi\!-\!\eta Mixing Amplitude

We extend a recent calculation of the momentum dependence of the $\rho-\omega$ mixing amplitude to the pseudoscalar sector. The $\pi\!-\!\eta$ mixing amplitude is calculated in a hadronic model where the mixing is driven by the neutron-proton mass difference. Closed-form analytic expressions are presented in terms of a few nucleon-meson parameters. The observed momentum dependence of the mixing amplitude is strong enough as to question earlier calculations of charge-symmetry-breaking observables based on the on-shell assumption. The momentum dependence of the $\pi\!-\!\eta$ amplitude is, however, practically identical to the one recently predicted for $\rho-\omega$ mixing. Hence, in this model, the ratio of pseudoscalar to vector mixing amplitudes is, to a good approximation, a constant solely determined from nucleon-meson coupling constants. Furthermore, by selecting these parameters in accordance with charge-symmetry-conserving data and SU(3)-flavor symmetry, we reproduce the momentum dependence of the $\pi\!-\!\eta$ mixing amplitude predicted from chiral perturbation theory. Alternatively, one can use chiral-perturbation-theory results to set stringent limits on the value of the $NN\eta$ coupling constant.Comment: 13 pages, Latex with Revtex, 3 postscript figures (not included) available on request, SCRI-03089

Quark Coulomb Interactions and the Mass Difference of Mirror Nuclei

We study the Okamoto-Nolen-Schiffer (ONS) anomaly in the binding energy of mirror nuclei at high density by adding a single neutron or proton to a quark gluon plasma. In this high-density limit we find an anomaly equal to two-thirds of the Coulomb exchange energy of a proton. This effect is dominated by quark electromagnetic interactions---rather than by the up-down quark mass difference. At normal density we calculate the Coulomb energy of neutron matter using a string-flip quark model. We find a nonzero Coulomb energy because of the neutron's charged constituents. This effect could make a significant contribution to the ONS anomaly.Comment: 4 pages, 2 figs. sub. to Phys. Rev. Let

Detection of Planetary Emission from the Exoplanet TrES-2 using Spitzer /IRAC

We present here the results of our observations of TrES-2 using the Infrared Array Camera on Spitzer. We monitored this transiting system during two secondary eclipses, when the planetary emission is blocked by the star. The resulting decrease in flux is 0.127%+-0.021%, 0.230%+-0.024%, 0.199%+-0.054%, and 0.359%+-0.060%, at 3.6 microns, 4.5 microns, 5.8 microns, and 8.0 microns, respectively. We show that three of these flux contrasts are well fit by a black body spectrum with T_{eff}=1500 K, as well as by a more detailed model spectrum of a planetary atmosphere. The observed planet-to-star flux ratios in all four IRAC channels can be explained by models with and without a thermal inversion in the atmosphere of TrES-2, although with different atmospheric chemistry. Based on the assumption of thermochemical equilibrium, the chemical composition of the inversion model seems more plausible, making it a more favorable scenario. TrES-2 also falls in the category of highly irradiated planets which have been theoretically predicted to exhibit thermal inversions. However, more observations at infrared and visible wavelengths would be needed to confirm a thermal inversion in this system. Furthermore, we find that the times of the secondary eclipses are consistent with previously published times of transit and the expectation from a circular orbit. This implies that TrES-2 most likely has a circular orbit, and thus does not obtain additional thermal energy from tidal dissipation of a non-zero orbital eccentricity, a proposed explanation for the large radius of this planet.Comment: 8 pages, 4 figures, 2 tables. Accepted for publication in the Astrophysical Journal. V2: New figure added ; other minor changes throughou

The Orbit of WASP-12b Is Decaying

WASP-12b is a transiting hot Jupiter on a 1.09 day orbit around a late-F star. Since the planet's discovery in 2008, the time interval between transits has been decreasing by 29 ± 2 ms yr⁻¹. This is a possible sign of orbital decay, although the previously available data left open the possibility that the planet's orbit is slightly eccentric and is undergoing apsidal precession. Here, we present new transit and occultation observations that provide more decisive evidence for orbital decay, which is favored over apsidal precession by a ΔBIC of 22.3 or Bayes factor of 70,000. We also present new radial-velocity data that rule out the Rømer effect as the cause of the period change. This makes WASP-12 the first planetary system for which we can be confident that the orbit is decaying. The decay timescale for the orbit is P/P˙=3.25±0.23. Interpreting the decay as the result of tidal dissipation, the modified stellar tidal quality factor is Q′⋆=1.8×10⁵