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

XMM-Newton observations of HD189733 during planetary transits

We report on two XMM-Newton observations of the planetary host star HD189733. The system has a close in planet and it can potentially affect the coronal structure via interactions with the magnetosphere. We have obtained X-ray spectra and light curves from EPIC and RGS on board XMM-Newton which we have analyzed and interpreted. We reduced X-ray data from primary transit and secondary eclipse occurred in April 17th 2007 and May 18th 2009, respectively. In the April 2007 observation only variability due to weak flares is recognized. In 2009 HD189733 exhibited a X-ray flux always larger than in the 2007 observation. The average flux in 2009 was higher than in 2007 observation by a factor of 45%. During the 2009 secondary eclipse we observed a softening of the X-ray spectrum significant at level of ~3 sigma. Further, we observed the most intense flare recorded at either epochs. This flare occurred 3 ks after the end of the eclipse.The flare decay shows several minor ignitions perhaps linked to the main event and hinting for secondary loops that emit triggered by the main loop. Magneto-Hydro-Dynamical (MHD) simulations show that the magnetic interaction between planet and star enhances the density and the magnetic field in a region comprised between the planet and the star because of their relative orbital/rotation motion. X-ray observations and model predictions are globally found in agreement, despite the quite simple MHD model and the lack of precise estimate of parameters including the alignment and the intensity of stellar and planetary magnetic fields. Future observations should confirm or disprove this hypothesis, by determining whether flares are systematically recurring in the light curve at the same planetary phase.Comment: Accepted for publication on The Astrophysical Journa

Thermal Emission of WASP-14b Revealed with Three Spitzer Eclipses

Exoplanet WASP-14b is a highly irradiated, transiting hot Jupiter. Joshi et al. calculate an equilibrium temperature Teq of 1866 K for zero albedo and reemission from the entire planet, a mass of 7.3 +/- 0.5 Jupiter masses and a radius of 1.28 +/- 0.08 Jupiter radii. Its mean density of 4.6 g/cm3 is one of the highest known for planets with periods less than 3 days. We obtained three secondary eclipse light curves with the Spitzer Space Telescope. The eclipse depths from the best jointly fit model are $0.224\%$ +/- $0.018\%$ at 4.5 {\mu}m and $0.181\%$ +/- $0.022\%$ at 8.0 {\mu}m. The corresponding brightness temperatures are 2212 +/- 94 K and 1590 +/- 116 K. A slight ambiguity between systematic models suggests a conservative 3.6 {\mu}m eclipse depth of $0.19\%$ +/- $0.01\%$ and brightness temperature of 2242 +/- 55 K. Although extremely irradiated, WASP-14b does not show any distinct evidence of a thermal inversion. In addition, the present data nominally favor models with day night energy redistribution less than $~30\%$. The current data are generally consistent with oxygen-rich as well as carbon-rich compositions, although an oxygen-rich composition provides a marginally better fit. We confirm a significant eccentricity of e = 0.087 +/- 0.002 and refine other orbital parameters.Comment: 16 pages, 16 figure

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

Spitzer IRAC Secondary Eclipse Photometry of the Transiting Extrasolar Planet HAT-P-1b

We report Spitzer/IRAC photometry of the transiting giant exoplanet HAT-P-1b during its secondary eclipse. This planet lies near the postulated boundary between the pM and pL-class of hot Jupiters, and is important as a test of models for temperature inversions in hot Jupiter atmospheres. We derive eclipse depths for HAT-P-1b, in units of the stellar flux, that are: 0.080% +/- 0.008%,[3.6um], 0.135% +/- 0.022%,[4.5um],0.203% +/- 0.031%,[5.8um], and $0.238% +/- 0.040%,[8.0um]. These values are best fit using an atmosphere with a modest temperature inversion, intermediate between the archetype inverted atmosphere (HD209458b) and a model without an inversion. The observations also suggest that this planet is radiating a large fraction of the available stellar irradiance on its dayside, with little available for redistribution by circulation. This planet has sometimes been speculated to be inflated by tidal dissipation, based on its large radius in discovery observations, and on a non-zero orbital eccentricity allowed by the radial velocity data. The timing of the secondary eclipse is very sensitive to orbital eccentricity, and we find that the central phase of the eclipse is 0.4999 +/- 0.0005. The difference between the expected and observed phase indicates that the orbit is close to circular, with a 3-sigma limit of |e cosw| < 0.002.Comment: 5 pages, 6 figures, 1 table. Accepted by The Astrophysical Journal, 10 Nov 200