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

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

Kepler-1656b: a Dense Sub-Saturn With an Extreme Eccentricity

Kepler-1656b is a 5 $R_E$ planet with an orbital period of 32 days initially detected by the prime Kepler mission. We obtained precision radial velocities of Kepler-1656 with Keck/HIRES in order to confirm the planet and to characterize its mass and orbital eccentricity. With a mass of $48 \pm 4 M_E$, Kepler-1656b is more massive than most planets of comparable size. Its high mass implies that a significant fraction, roughly 80%, of the planet's total mass is in high density material such as rock/iron, with the remaining mass in a low density H/He envelope. The planet also has a high eccentricity of $0.84 \pm 0.01$, the largest measured eccentricity for any planet less than 100 $M_E$. The planet's high density and high eccentricity may be the result of one or more scattering and merger events during or after the dispersal of the protoplanetary disk.Comment: 10 pages, 6 figures, published in The Astronomical Journa

The secondary eclipse of the transiting exoplanet CoRoT-2b

We present a study of the light curve of the transiting exoplanet CoRoT-2b, aimed at detecting the secondary eclipse and measuring its depth. The data were obtained with the CoRoT satellite during its first run of more than 140 days. After filtering the low frequencies with a pre-whitening technique, we detect a 0.0060$\pm$0.0020% secondary eclipse centered on the orbital phase 0.494$\pm$0.006. Assuming a black-body emission of the planet, we estimate a surface brightness temperature of T$_{\rm p,CoRoT}$=1910$^{+90}_{-100}$ K. We provide the planet's equilibrium temperature and re-distribution factors as a function of the unknown amount of reflected light. The upper limit for the geometric albedo is 0.12. The detected secondary is the shallowest ever found.Comment: 4 pages, 6 figures, accepted for publication in A&A Letter

Quantum Knizhnik-Zamolodchikov equation, generalized Razumov-Stroganov sum rules and extended Joseph polynomials

We prove higher rank analogues of the Razumov--Stroganov sum rule for the groundstate of the O(1) loop model on a semi-infinite cylinder: we show that a weighted sum of components of the groundstate of the A_{k-1} IRF model yields integers that generalize the numbers of alternating sign matrices. This is done by constructing minimal polynomial solutions of the level 1 U_q(\hat{sl(k)}) quantum Knizhnik--Zamolodchikov equations, which may also be interpreted as quantum incompressible q-deformations of fractional quantum Hall effect wave functions at filling fraction nu=1/k. In addition to the generalized Razumov--Stroganov point q=-e^{i pi/k+1}, another combinatorially interesting point is reached in the rational limit q -> -1, where we identify the solution with extended Joseph polynomials associated to the geometry of upper triangular matrices with vanishing k-th power.Comment: v3: misprint fixed in eq (2.1

Hubble Space Telescope Transmission Spectroscopy of the Exoplanet HD 189733b: High-altitude atmospheric haze in the optical and near-UV with STIS

We present Hubble Space Telescope optical and near-ultraviolet transmission spectra of the transiting hot-Jupiter HD189733b, taken with the repaired Space Telescope Imaging Spectrograph (STIS) instrument. The resulting spectra cover the range 2900-5700 Ang and reach per-exposure signal-to-noise levels greater than 11,000 within a 500 Ang bandwidth. We used time series spectra obtained during two transit events to determine the wavelength dependance of the planetary radius and measure the exoplanet's atmospheric transmission spectrum for the first time over this wavelength range. Our measurements, in conjunction with existing HST spectra, now provide a broadband transmission spectrum covering the full optical regime. The STIS data also shows unambiguous evidence of a large occulted stellar spot during one of our transit events, which we use to place constraints on the characteristics of the K dwarf's stellar spots, estimating spot temperatures around Teff~4250 K. With contemporaneous ground-based photometric monitoring of the stellar variability, we also measure the correlation between the stellar activity level and transit-measured planet-to-star radius contrast, which is in good agreement with predictions. We find a planetary transmission spectrum in good agreement with that of Rayleigh scattering from a high-altitude atmospheric haze as previously found from HST ACS camera. The high-altitude haze is now found to cover the entire optical regime and is well characterised by Rayleigh scattering. These findings suggest that haze may be a globally dominant atmospheric feature of the planet which would result in a high optical albedo at shorter optical wavelengths.Comment: 14 pages, 14 figures, 4 tables, accepted to MNRAS, revised version has minor change

Simulation of the Recent Multidecadal Increase of Atlantic Hurricane Activity Using an 18-km-Grid Regional Model

In this study, a new modeling framework for simulating Atlantic hurricane activity is introduced. The model is an 18-km-grid nonhydrostatic regional model, run over observed specified SSTs and nudged toward observed time-varying large-scale atmospheric conditions (Atlantic domain wavenumbers 0-2) derived from the National Centers for Environmental Prediction (NCEP) reanalyses. Using this perfect large-scale model approach for 27 recent August-October seasons (1980-2006), it is found that the model successfully reproduces the observed multidecadal increase in numbers of Atlantic hurricanes and several other tropical cyclone (TC) indices over this period. The correlation of simulated versus observed hurricane activity by year varies from 0.87 for basin-wide hurricane counts to 0.41 for U.S. landfalling hurricanes. For tropical storm count, accumulated cyclone energy, and TC power dissipation indices the correlation is similar to 0.75, for major hurricanes the correlation is 0.69, and for U.S. landfalling tropical storms, the correlation is 0.57. The model occasionally simulates hurricanes intensities of up to category 4 (similar to 942 mb) in terms of central pressure, although the surface winds (\u3c 47 in s-1) do not exceed category-2 intensity. On interannual time scales, the model reproduces the observed ENSO-Atlantic hurricane covariation reasonably well. Some notable aspects of the highly contrasting 2005 and 2006 seasons are well reproduced, although the simulated activity during the 2006 core season was excessive. The authors conclude that the model appears to be a useful tool for exploring mechanisms of hurricane variability in the Atlantic (e.g., shear versus potential intensity contributions). The model may be capable of making useful simulations/projections of pre-1980 or twentieth-century Atlantic hurricane activity. However, the reliability of these projections will depend on obtaining reliable large-scale atmospheric and SST conditions from sources external to the model

Three-dimensional atmospheric circulation of hot Jupiters on highly eccentric orbits

Of the over 800 exoplanets detected to date, over half are on non-circular orbits, with eccentricities as high as 0.93. Such orbits lead to time-variable stellar heating, which has implications for the planet's atmospheric dynamical regime. However, little is known about this dynamical regime, and how it may influence observations. Therefore, we present a systematic study of hot Jupiters on highly eccentric orbits using the SPARC/MITgcm, a model which couples a three-dimensional general circulation model with a plane-parallel, two-stream, non-grey radiative transfer model. In our study, we vary the eccentricity and orbit-average stellar flux over a wide range. We demonstrate that the eccentric hot Jupiter regime is qualitatively similar to that of planets on circular orbits; the planets possess a superrotating equatorial jet and exhibit large day-night temperature variations. We show that these day-night heating variations induce momentum fluxes equatorward to maintain the superrotating jet throughout its orbit. As the eccentricity and/or stellar flux is increased, the superrotating jet strengthens and narrows, due to a smaller Rossby deformation radius. For a select number of model integrations, we generate full-orbit lightcurves and find that the timing of transit and secondary eclipse viewed from Earth with respect to periapse and apoapse can greatly affect what we see in infrared (IR) lightcurves; the peak in IR flux can lead or lag secondary eclipse depending on the geometry. For those planets that have large day-night temperature variations and rapid rotation rates, we find that the lightcurves exhibit "ringing" as the planet's hottest region rotates in and out of view from Earth. These results can be used to explain future observations of eccentric transiting exoplanets.Comment: 20 pages, 18 figures, 2 tables; Accepted to Ap

Improved Orbital Parameters and Transit Monitoring for HD 156846b

HD 156846b is a Jovian planet in a highly eccentric orbit (e = 0.85) with a period of 359.55 days. The pericenter passage at a distance of 0.16 AU is nearly aligned to our line of sight, offering an enhanced transit probability of 5.4% and a potentially rich probe of the dynamics of a cool planetary atmosphere impulsively heated during close approach to a bright star (V = 6.5). We present new radial velocity (RV) and photometric measurements of this star as part of the Transit Ephemeris Refinement and Monitoring Survey (TERMS). The RV measurements from Keck-HIRES reduce the predicted transit time uncertainty to 20 minutes, an order of magnitude improvement over the ephemeris from the discovery paper. We photometrically monitored a predicted transit window under relatively poor photometric conditions, from which our non-detection does not rule out a transiting geometry. We also present photometry that demonstrates stability at the millimag level over its rotational timescale.Comment: 7 pages, 4 figures, accepted for publication in Ap