Myopic, Naive, Resolute or Sophisticated? A study of how people take dynamic decisions

Potentially dynamically-inconsistent individuals create particular problems for economics, as their behaviour depends upon whether and how they attempt to resolve their potential inconsistency. This paper reports on the results of a new experiment designed to help us distinguish between the different types that may exist. We classify people into four types: myopic, naive, resolute and sophisticated. We implement a new and simple experimental design in which subjects are asked to take two sequential decisions (interspersed by a random move by Nature) concerning the allocation of a given sum of money. The resulting data enables us to classify the subjects. We find that the majority are resolute, a significant minority are sophisticated and rather few are naive or myopic.Potentially dynamically-inconsistent individuals create particular problems for economics, as their behaviour depends upon whether and how they attempt to resolve their potential inconsistency. This paper reports on the results of a new experiment designed to help us distinguish between the different types that may exist. We classify people into four types: myopic, naive, resolute and sophisticated. We implement a new and simple experimental design in which subjects are asked to take two sequential decisions (interspersed by a random move by Nature) concerning the allocation of a given sum of money. The resulting data enables us to classify the subjects. We find that the majority are resolute, a significant minority are sophisticated and rather few are naive or myopic.Non-Refereed Working Papers / of national relevance onl

Does heterogeneity spoil the basket? The role of productivity and feedback information on public good provision

In a circular neighborhood of eight, each member contributes repeatedly to two local public goods, one with the left and one with the right neighbor. All eight two-person games provide only local feedback information and are structurally independent in spite of their overlapping player sets. Heterogeneity is induced intra-personally by asymmetric productivity in left and right games and inter-personally by two randomly selected group members who are less privileged (LP) by being either less productive or excluded from end-of-period feedback information about their payoffs and neighbors’ contributions. Although both LP-types let the neighborhood as a whole evolve less cooperatively, their spillover dynamics differ. While less productive LPs initiate “spoiling the basket” via their low contributions, LPs with no-end-of-round information are exploited by their neighbors. Furthermore, LP-positioning, closest versus most distant, affects how the neighborhood evolves

Behavioral spillovers in local public good provision: an experimental study

In a circular neighborhood, each member has a left and a right neighbor with whom(s) he interacts repeatedly. From their two separate endowment amounts individuals can contribute to each of their two structurally independent public goods, either shared only with their left, respectively right, neighbor. If most group members are discrimination averse and conditionally cooperating with their neighbors, this implies intra- as well as inter personal spillovers which link all neighbors. Investigating individual adaptations in one’s two games with differing freeriding incentives confirms, through behavioral spillovers, that both individual contributions anchor on the local public good with the smaller free-riding incentive. Therefore asymmetry in gaining from local public goods allows to establish a higher level of voluntary cooperation

Angle, spin, and depth resolved photoelectron spectroscopy on quantum materials

PK gratefully acknowledges The Royal Society for support.The role of X-ray based electron spectroscopies in determining chemical, electronic, and magnetic properties of solids has been well-known for several decades. A powerful approach is angle-resolved photoelectron spectroscopy, whereby the kinetic energy and angle of photoelectrons emitted from a sample surface are measured. This provides a direct measurement of the electronic band structure of crystalline solids. Moreover, it yields powerful insights into the electronic interactions at play within a material and into the control of spin, charge, and orbital degrees of freedom, central pillars of future solid state science. With strong recent focus on research of lower-dimensional materials and modified electronic behavior at surfaces and interfaces, angle-resolved photoelectron spectroscopy has become a core technique in the study of quantum materials. In this review, we provide an introduction to the technique. Through examples from several topical materials systems, including topological insulators, transition metal dichalcogenides, and transition metal oxides, we highlight the types of information which can be obtained. We show how the combination of angle, spin, time, and depth-resolved experiments are able to reveal “hidden” spectral features, connected to semiconducting, metallic and magnetic properties of solids, as well as underlining the importance of dimensional effects in quantum materials.PostprintPeer reviewe

Interface bonding of a ferromagnetic/semiconductor junction : a photoemission study of Fe/ZnSe(001)

We have probed the interface of a ferromagnetic/semiconductor (FM/SC) heterojunction by a combined high resolution photoemission spectroscopy and x-ray photoelectron diffraction study. Fe/ZnSe(001) is considered as an example of a very low reactivity interface system and it expected to constitute large Tunnel Magnetoresistance devices. We focus on the interface atomic environment, on the microscopic processes of the interface formation and on the iron valence-band. We show that the Fe contact with ZnSe induces a chemical conversion of the ZnSe outermost atomic layers. The main driving force that induces this rearrangement is the requirement for a stable Fe-Se bonding at the interface and a Se monolayer that floats at the Fe growth front. The released Zn atoms are incorporated in substitution in the Fe lattice position. This formation process is independent of the ZnSe surface termination (Zn or Se). The Fe valence-band evolution indicates that the d-states at the Fermi level show up even at submonolayer Fe coverage but that the Fe bulk character is only recovered above 10 monolayers. Indeed, the Fe 1-band states, theoretically predicted to dominate the tunneling conductance of Fe/ZnSe/Fe junctions, are strongly modified at the FM/SC interface.Comment: 23 pages, 5 figures, submitted to Physical review

Chromosome-End Knockoff Strategy to Reshape Alkaloid Profiles of a Fungal Endophyte

Molecular genetic techniques to precisely eliminate genes in asexual filamentous fungi require the introduction of a marker gene into the target genome. We developed a novel strategy to eliminate genes or gene clusters located in subterminal regions of chromosomes, and then eliminate the marker gene and vector backbone used in the transformation procedure. Because many toxin gene clusters are subterminal, this method is particularly suited to generating nontoxic fungal strains. We tested this technique on Epichloë coenophiala, a seed-transmissible symbiotic fungus (endophyte) of the important forage grass, tall fescue (Lolium arundinaceum). The endophyte is necessary for maximal productivity and sustainability of this grass but can produce ergot alkaloids such as ergovaline, which are toxic to livestock. The genome sequence of E. coenophiala strain e19 revealed two paralogous ergot alkaloid biosynthesis gene clusters, designated EAS1 and EAS2. EAS1 was apparently subterminal, and the lpsB copy in EAS2 had a frame-shift mutation. We designed a vector with a fungal-active hygromycin phosphotransferase gene (hph), an lpsA1 gene fragment for homologous recombination at the telomere-distal end of EAS1, and a telomere repeat array positioned to drive spontaneous loss of hph and other vector sequences, and to stabilize the new chromosome end. We transformed E. coenophiala with this vector, then selected “knockoff” endophyte strains, confirmed by genome sequencing to lack 162 kb of a chromosome end including most of EAS1, and also to lack vector sequences. These ∆EAS1 knockoff strains produced no detectable ergovaline, whereas complementation with functional lpsB restored ergovaline production

Proximity-induced ferromagnetism and chemical reactivity in few-layer VSe2 heterostructures

Among transition-metal dichalcogenides, mono and few-layers thick VSe2 has gained much recent attention following claims of intrinsic room-temperature ferromagnetism in this system, which have nonetheless proved controversial. Here, we address the magnetic and chemical properties of Fe/VSe2 heterostructure by combining element sensitive x-ray absorption spectroscopy and photoemission spectroscopy. Our x-ray magnetic circular dichroism results confirm recent findings that both native mono/few-layer and bulk VSe2 do not show intrinsic ferromagnetic ordering. Nonetheless, we find that ferromagnetism can be induced, even at room temperature, after coupling with a Fe thin film layer, with antiparallel alignment of the moment on the V with respect to Fe. We further consider the chemical reactivity at the Fe/VSe2 interface and its relation with interfacial magnetic coupling

Electronic Structure of CeFeAsO1-xFx (x=0, 0.11/x=0.12) compounds

We report an extensive study on the intrinsic bulk electronic structure of the high-temperature superconductor CeFeAsO0.89F0.11 and its parent compound CeFeAsO by soft and hard x-ray photoemission, x-ray absorption and soft-x-ray emission spectroscopies. The complementary surface/bulk probing depth, and the elemental and chemical sensitivity of these techniques allows resolving the intrinsic electronic structure of each element and correlating it with the local structure, which has been probed by extended-x-ray absorption fine structure spectroscopy. The measurements indicate a predominant 4f1 (i.e. Ce3+) initial state configuration for Cerium and an effective valence-band-to-4f charge-transfer screening of the core hole. The spectra also reveal the presence of a small Ce f0 initial state configuration, which we assign to the occurrence of an intermediate valence state. The data reveal a reasonably good agreement with the partial density of states as obtained in standard density functional calculations over a large energy range. Implications for the electronic structure of these materials are discussed.Comment: Accepted for publication in Phys. Rev.