A critical reinterpretation of Shacklean decision theory

Shackle was one of the representative critics of probability calculus. His alternative decision theory was mathematically reformalized by Katzner till 1990s. Following the Katzner’s reformalized framework, this paper presents a new interpretation of Shacklean theory by focusing on the common stage structure of the decision-making. This paper shows that the characteristics of Shackle-Katzner framework can be explained as: (1) the non-distributive and non-additive ordinal measure of subjective uncertainty, (2) the incomplete list of imaginable future states, (3) the valuation of “importance” reflecting various types of loss- psychology, and (4) the final choice of the action is made on the set of importance intervals. The purpose of this paper is to investigate how the foundational stance of Shackle-Katzner framework about the decision-making elicits the different formal structure, and to provide a new interpretation of Shacklean decision theory

Portfolio adjustment and panic behavior under true uncertainty

G.L.S. Shackle was one of the representative critics against probability- based economic theory, and influenced some Post-Keynesians and Austri- ans. During the 1980s and 1990s, his alternative framework was math- ematically reconstructed by Katzner. In this paper, we will reformalize the Shackle-Katzner framework to explain the financial decision-making of the individual. For this, the portfolio diversification between two non- monetary assets will be explained by the reformalized model introduced here, and then moved to the analysis about a case of money and a non- monetary asset. Based on these findings, a few possible scenarios of panic behavior in the portfolio adjustment will be examined

A Functional Representation of Potential Surprise Ordering

In the history of economic thought, Shackle was one of the representative critics about probability based economic theory. Specifically, he constructed his own concept of subjective uncertainty called potential surprise to replace probability. In 1980s, the potential surprise is axiomatized by Katzner as Kolmogorov-styled measure defined on the -field over the set of possible states. In this paper, potential surprise function is reconstructed as the functional representation of potential surprise ordering on the space of hypotheses about future called monad

Enhancing quantum entanglement for continuous variables by a coherent superposition of photon subtraction and addition

We investigate how the entanglement properties of a two-mode state can be improved by performing a coherent superposition operation of photon subtraction and addition, proposed by Lee and Nha [Phys. Rev. A 82, 053812 (2010)], on each mode. We show that the degree of entanglement, the EPR-type correlation, and the performance of quantum teleportation can be all enhanced for the output state when the coherent operation is applied to a two-mode squeezed state. The effects of the coherent operation are more prominent than those of the mere photon subtraction and the addition particularly in the small squeezing regime, whereas the optimal operation becomes the photon subtraction in the large-squeezing regime.Comment: 6 pages, 6 figures, published versio

Sraffian Indeterminacy in General Equilibrium Revisited

In contrast to Mandler’s (1999a; Theorem 6) impossibility result about the Sraffian indeterminacy of the steady-state equilibrium, we first show that any regular Sraffian steady-state equilibrium is indeterminate in terms of Sraffa (1960) under the simple overlapping generation economy. Moreover, we also check that this indeterminacy is generic. These results are obtained by explicitly defining a simple model of overlapping generation economies with Leontief production techniques, in which we also explain the main source of the difference between our results and Mandler (1999a; section 6)

Transition metal amides and imides as precursors to metal nitride and carbonitride thin films via chemical vapor deposition

Transition metal nitrides are known for their hardness and semiconducting properties. These properties have lead to their use as barrier layers, which prevent the diffusion of copper into silicon in gate electrodes. Chemical vapour deposition (CVD) and atomic layer deposition (ALD) of transition metal nitrides and carbonitrides at low temperatures (200-600 °C), using imido and amido complexes as precursors, has been reported. We have been investigating the synthesis of a range of tungsten imido and amido complexes, and zirconium cyclopentadienyl and amido compounds via transamination and metathesis reactions. We have investigated the potential of the compounds synthesised as single-source precursors to their respective metal nitrides via CVD, involving studies at low pressure (LPCVD) and using an aerosol-assisted (AACVD) technique

Quantum linear amplifier enhanced by photon subtraction and addition

A deterministic quantum amplifier inevitably adds noise to an amplified signal due to the uncertainty principle in quantum physics. We here investigate how a quantum-noise-limited amplifier can be improved by additionally employing the photon subtraction, the photon addition, and a coherent superposition of the two, thereby making a probabilistic, heralded, quantum amplifier. We show that these operations can enhance the performance in amplifying a coherent state in terms of intensity gain, fidelity, and phase uncertainty. In particular, the photon subtraction turns out to be optimal for the fidelity and the phase concentration among these elementary operations, while the photon addition also provides a significant reduction in the phase uncertainty with the largest gain effect.Comment: published version, 7 pages, 9 figure