Effect of Uncertainty about Others' Rationality in Experimental Asset Markets: An Experimental Analysis

We investigate the extent to which price deviations from fundamental values in an experimental asset market are due to the uncertainty of subjects regarding others' rationality. We do so by comparing the price forecasts submitted by subjects in two market environments: (a) all six traders are human subjects (6H), and (b) one human subject interacts with five profit-maximizing computer traders who assume all the traders are also maximizing profit (1H5C). The subjects are told explicitly about the behavioral assumption of the computer traders (in both 6H and 1H5C) as well as which environment they are in. Results from our experiments show that there is no significant difference between the distributions of the initial deviations of the forecast prices from the fundamental values in the two markets. However, as subjects learn by observing the realized prices, the magnitude of deviations becomes significantly smaller in 1H5C than in 6H markets. We also conduct additional experiments where subjects who have experienced the 1H5C market interact with five inexperienced subjects. The price forecasts initially submitted by the experienced subjects follow the fundamental value despite the fact that the subjects are explicitly told that the five other traders in the market are inexperienced subjects. These findings do not support the hypothesis that uncertainty about others' rationality plays a major role in causing substantial deviation of forecast prices from the fundamental values in these asset market experiments

Learning Games

This paper proposes a model of learning about a game. Players initially have littleknowledge about the game. Through playing the identical game repeatedly, eachplayer not only learns which action to choose but also constructs his personal viewon the game. The model is studied using a hybrid payoff matrix of the prisoner’sdilemma and coordination games. Results of computer simulations show (1) when allthe players are slow in learning the game, they have only a partial understanding ofthe game, but may enjoy higher payoffs than the cases with full or no understandingof the game; (2) when one of the players is quick in learning the game, he obtains ahigher payoff than the others. However, all of them can receive lower payoffs than thecase where all the players are slow learners

Demonstration of deterministic and high fidelity squeezing of quantum information

By employing at recent proposal (R. Filip, P. Marek and U.L. Andersen, Phys. Rev. A {\bf 71}, 042308 (2005) \cite{Filip05.pra}), we experimentally demonstrate a universal, deterministic and high-fidelity squeezing transformation of an optical field. It relies only on linear optics, homodyne detection, feedforward and an ancillary squeezed vacuum state, thus direct interaction between a strong pump and the quantum state is circumvented. We demonstrate three different squeezing levels for a coherent state input. This scheme is highly suitable for the fault-tolerant squeezing transformation in a continuous variable quantum computer.Comment: 5 pages, 4 figure

MEGADOCK 3.0: a high-performance protein-protein interaction prediction software using hybrid parallel computing for petascale supercomputing environments

BACKGROUND: Protein-protein interaction (PPI) plays a core role in cellular functions. Massively parallel supercomputing systems have been actively developed over the past few years, which enable large-scale biological problems to be solved, such as PPI network prediction based on tertiary structures. RESULTS: We have developed a high throughput and ultra-fast PPI prediction system based on rigid docking, “MEGADOCK”, by employing a hybrid parallelization (MPI/OpenMP) technique assuming usages on massively parallel supercomputing systems. MEGADOCK displays significantly faster processing speed in the rigid-body docking process that leads to full utilization of protein tertiary structural data for large-scale and network-level problems in systems biology. Moreover, the system was scalable as shown by measurements carried out on two supercomputing environments. We then conducted prediction of biological PPI networks using the post-docking analysis. CONCLUSIONS: We present a new protein-protein docking engine aimed at exhaustive docking of mega-order numbers of protein pairs. The system was shown to be scalable by running on thousands of nodes. The software package is available at: http://www.bi.cs.titech.ac.jp/megadock/k/

Development Of Fuel-Flexible Gas Turbine Combustor

LectureGrowing global energy demands are motivating the gas turbine industry to seek fuel-flexible gas turbines capable of burning a wide variety of fuels as a means of increasing energy supply stability and security. These fuel-flexible gas turbines require diluent-free (“dry”), low nitrogen oxide (NOx) and flashback-resistant combustors for various fuels in order to achieve low NOx emissions and high plant efficiency for low carbon dioxide (CO2) emissions. This paper describes the development of a state-of-the-art dry low-NOx and flashback-resistant combustor for fuel-flexible gas turbines. This advanced combustor consists of multiple fuel nozzles and multiple air holes. One fuel nozzle and one air hole are installed coaxially to give one key element, and a cluster of key elements constitutes one burner, which forms one flame. Multiple cluster burners constitute a can combustor, and several can combustors are installed on a gas turbine. In this paper, the burner is called a “cluster burner,” and the combustor is called a “multi-cluster combustor.” The essence of the burner concept is the integration of two key technologies: low-NOx combustion due to the enhancement of fuel-air mixing; and flashback-resistant combustion due to short premixing sections, air-stream-surrounded fuel jets and lifted flames. The development approach of the multi-cluster combustor consists of three steps: burner development; combustor development; and feasibility demonstration for practical plants. The first step optimizes burner configurations by fundamental research at atmospheric pressure. The second step optimizes combustor configurations by single-can combustor testing at medium to high pressures. The third step demonstrates the feasibility of the combustor by field testing with real gas turbines. This paper describes the development work in each step of the multi-cluster combustor developed particularly for hydrogen content syngas fuels in a coal-based integrated gasification combined cycle (IGCC), and the field test in an IGCC pilot plant demonstrates the feasibility of the combustor for practical plants. This paper also describes applications of this combustion technology to expand fuel flexibility

Impact of Coronary Plaque Composition on Cardiac Troponin Elevation After Percutaneous Coronary Intervention in Stable Angina Pectoris : A Computed Tomography Analysis

ObjectivesThe authors used multidetector computed tomography (MDCT) to study the relation between culprit plaque characteristics and cardiac troponin T (cTnT) elevation after percutaneous coronary intervention (PCI).BackgroundPercutaneous coronary intervention is often complicated by post-procedural myocardial necrosis manifested by elevated cardiac biomarkers.MethodsStable angina patients (n = 107) with normal pre-PCI cTnT levels underwent 64-slice MDCT before PCI to evaluate plaque characteristics of culprit lesions. Patients were divided into 2 groups according to presence (group I, n = 36) or absence (group II, n = 71) of post-PCI cTnT elevation ≥3 times the upper limit of normal (0.010 ng/ml) at 24 h after PCI.ResultsComputed tomography attenuation values were significantly lower in group I than in group II (43.0 [26.5 to 75.7] HU vs. 94.0 [65.0 to 109.0] HU, p 1.05; odds ratio: 4.54; 95% confidence interval: 1.36 to 15.9; p = 0.014) and spotty calcification (odds ratio: 4.27; 95% confidence interval: 1.30 to 14.8; p = 0.016) were statistically significant independent predictors for cTnT elevation. For prediction of cTnT elevation, the presence of all 3 variables (CT attenuation value 1.05, and spotty calcification) showed a high positive predictive value of 94%, and their absence showed a high negative predictive value of 90%.ConclusionsMDCT may be useful in detecting which lesions are at high risk for myocardial necrosis after PCI