459 research outputs found

    Incentive-Compatible Surveys via Posterior Probabilities

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    We consider the problem of eliciting truthful responses to a survey question when the respondents share a common prior that the survey planner is agnostic about. The planner would therefore like to have a "universal” mechanism, which would induce honest answers for all possible priors. If the planner also requires a locality condition that ensures that the mechanism payoffs are determined by the respondents' posterior probabilities of the true state of nature, we prove that, under additional smoothness and sensitivity conditions, the payoff in the truth-telling equilibrium must be a logarithmic function of those posterior probabilities. Moreover, the respondents are necessarily ranked according to those probabilities. Finally, we discuss implementation issues

    Quantum phenomenology of conjunction fallacy

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    A quantum-like description of human decision process is developed, and a heuristic argument supporting the theory as sound phenomenology is given. It is shown to be capable of quantitatively explaining the conjunction fallacy in the same footing as the violation of sure-thing principle.Comment: LaTeX 8 pages, 2 figure

    Are People Really Risk Seeking for Losses?

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    Asking about social circles improves election predictions

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    Election outcomes can be difficult to predict. A recent example is the 2016 US presidential election, in which Hillary Clinton lost five states that had been predicted to go for her, and with them the White House. Most election polls ask people about their own voting intentions: whether they will vote and, if so, for which candidate. We show that, compared with own-intention questions, social-circle questions that ask participants about the voting intentions of their social contacts improved predictions of voting in the 2016 US and 2017 French presidential elections. Responses to social-circle questions predicted election outcomes on national, state and individual levels, helped to explain last-minute changes in people’s voting intentions and provided information about the dynamics of echo chambers among supporters of different candidates

    A Note on the Shape of the Probability Weighting Function

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    The focus of this contribution is on the transformation of objective probability, which in Prospect Theory is commonly referred as probability weighting. Empirical evidence suggests a typical inverse-S shaped function: decision makers tend to overweight small probabilities, and underweight medium and high probabilities; moreover, the probability weighting function is initially concave and then convex. We apply different parametric weighting functions proposed in the literature to the evaluation of derivative contracts and to insurance premium principles

    Collisional kinetics of non-uniform electric field, low-pressure, direct-current discharges in H2_{2}

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    A model of the collisional kinetics of energetic hydrogen atoms, molecules, and ions in pure H2_2 discharges is used to predict Hα_\alpha emission profiles and spatial distributions of emission from the cathode regions of low-pressure, weakly-ionized discharges for comparison with a wide variety of experiments. Positive and negative ion energy distributions are also predicted. The model developed for spatially uniform electric fields and current densities less than 10310^{-3} A/m2^2 is extended to non-uniform electric fields, current densities of 10310^{3} A/m2^2, and electric field to gas density ratios E/N=1.3E/N = 1.3 MTd at 0.002 to 5 Torr pressure. (1 Td = 102110^{-21} V m2^2 and 1 Torr = 133 Pa) The observed far-wing Doppler broadening and spatial distribution of the Hα_\alpha emission is consistent with reactions among H+^+, H2+_2^+, H3+_3^+, and HH^-H ions, fast H atoms, and fast H2_2 molecules, and with reflection, excitation, and attachment to fast H atoms at surfaces. The Hα_\alpha excitation and H^- formation occur principally by collisions of fast H, fast H2_2, and H+^+ with H2_2. Simplifications include using a one-dimensional geometry, a multi-beam transport model, and the average cathode-fall electric field. The Hα_\alpha emission is linear with current density over eight orders of magnitude. The calculated ion energy distributions agree satisfactorily with experiment for H2+_2^+ and H3+_3^+, but are only in qualitative agreement for H+^+ and H^-. The experiments successfully modeled range from short-gap, parallel-plane glow discharges to beam-like, electrostatic-confinement discharges.Comment: Submitted to Plasmas Sources Science and Technology 8/18/201
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