The implication of the hyperbolic discount model for annuitisation decisions

The low demand for immediate annuities at retirement has been a long-standing puzzle. We show that a hyperbolic discount model can explain this behaviour and results in the attractiveness of long-term deferred annuities. With a set of benchmark assumptions, we find that retirees would be willing to pay a much higher price than the actuarial fair price for annuities with longer deferred periods. Moreover, if governments were to introduce a pre-commitment device which requires pensioners to make annuitisation decisions around ten years before retirement, the take up rate of annuities could become higher

Interplay of Spin and Orbital Angular Momentum in the Proton

We derive the consequences of the Myhrer-Thomas explanation of the proton spin problem for the distribution of orbital angular momentum on the valence and sea quarks. After QCD evolution these results are found to be in very good agreement with both recent lattice QCD calculations and the experimental constraints from Hermes and JLab

Illinois River 2000 Pollutant Loads at Arkansas 59 Bridge

Automatic water samplers and a U. S. Geological Survey gauging station were established in 1995 on the main stem of the Illinois River at the Arkansas Highway 59 Bridge. Since that time, continuous stage and discharge measurements and water quality sampling have been used to determine pollutant concentrations and loads in the Arkansas portion of the Illinois River. This report represents the results from the measurement and sampling for January 1, 2000 to December 31, 200

Conserved Linking in Single- and Double-Stranded Polymers

We demonstrate a variant of the Bond Fluctuation lattice Monte Carlo model in which moves through cis conformations are forbidden. Ring polymers in this model have a conserved quantity that amounts to a topological linking number. Increased linking number reduces the radius of gyration mildly. A linking number of order 0.2 per bond leads to an eight-percent reduction of the radius for 128-bond chains. This percentage appears to rise with increasing chain length, contrary to expectation. For ring chains evolving without the conservation of linking number, we demonstrate a substantial anti-correlation between the twist and writhe variables whose sum yields the linking number. We raise the possibility that our observed anti-correlations may have counterparts in the most important practical polymer that conserves linking number, DNA.Comment: Revised title, minor changes, updated references. 36 pages, including 14 figures. More formats available at http://rainbow.uchicago.edu/~plewa/webpaper