Semigroups, rings, and Markov chains

We analyze random walks on a class of semigroups called ``left-regular bands''. These walks include the hyperplane chamber walks of Bidigare, Hanlon, and Rockmore. Using methods of ring theory, we show that the transition matrices are diagonalizable and we calculate the eigenvalues and multiplicities. The methods lead to explicit formulas for the projections onto the eigenspaces. As examples of these semigroup walks, we construct a random walk on the maximal chains of any distributive lattice, as well as two random walks associated with any matroid. The examples include a q-analogue of the Tsetlin library. The multiplicities of the eigenvalues in the matroid walks are ``generalized derangement numbers'', which may be of independent interest.Comment: To appear in J. Theoret. Proba

LOTS of LTA applications

Current problems facing the logistical planner in utilizing the new ships of the modern, intermodal sea transportation systems in a logistics-over-the-shore (undeveloped) environment are described. Then the employment of two potential LTA vehicle systems are described and discussed as significant parts of possible solutions to this range of logistical problems. Vulnerability aspects of these LTA vehicles are also briefly addressed because of their possible employment near combat areas

Smart Concerts: Orchestras in the Age of Edutainment

Provides a summary of the recent shift in concert programming, and discusses four strategies for enhancing the concert experience: contextual programming, dramatization of music, visual enhancements, and embedded interpretation

Financial Expectations, Consumption and Saving: A Microeconomic Analysis

We explore the determinants of individuals´ financial expectations using data from the British Household Panel Survey (BHPS) 1991-2001. Our findings suggest that individuals´ financial predictions are influenced by both the life cycle and the business cycle. We also investigate the extent to which the accuracy of past financial expectations affects current financial expectations. Interestingly, only past financial optimism matters, regardless of the accuracy of the prediction. We also explore the relationship between financial realisations and expectations and we find that expectations tend to fall short of financial realisations. Finally, we investigate the relationship between financial expectations, savings and consumption. Our findings suggest that financial optimism is inversely associated with savings and that current financial expectations serve to predict future consumption

Expectations, reservation wages and employment: Evidence from British panel data

In this paper, we explore the relationship between expectations and reservation wages for a sample of unemployed individuals using panel data drawn from the British Household Panel Survey, 1996 to 2005. To be specific, we initially investigate the determinants of expectations relating to the individual´s financial situation and employment prospects over the next 12 months. Our findings suggest that job search and education are positively associated with financial optimism and confidence regarding future employment prospects. Conversely, the length of time out of employment and age are associated with pessimistic expectations. Propensity score matching techniques enable us to adopt a quasi experimental approach to ascertain how an individual´s expectations regarding their future financial situation as well as expectations regarding securing future employment influence the setting of reservation wages at the individual level. Optimism over future finances and future job prospects are associated with a higher reservation wage in both the matched and unmatched estimates. Furthermore, confidence over securing future employment is associated with a higher probability of actually gaining employment in the next period