Outcomes Based Assessment of Universities

This study summarizes recent and continuing research conducted by the Center for College Affordability and Productivity (CCAP) on the metrics used for measuring college performance. Unlike other rankings, this study does not concentrate on the inputs of college education such as endowment size, number of faculty, or the educational preparation of students as measured by SAT scores, etc. Instead, it focuses on the outputs, namely the success of students after graduation. Using the names of entrants in Marquis Publishing's 2008 edition of Who's Who in America as our standard for measuring high levels of success, we collected the names of over 5,200 individuals, along with their educational background.This is more than a 5 percent sampling of all names listed in this standard reference work. From this sample, we then calculated which colleges produced the most successful graduates. The results thus far have been both fascinating and surprising.We have found that while going to top ranked schools as measured by standard college rankings does correlate with success, it is a weaker relationship than many may have previously believed. The study reveals that the "industry standard," U.S. News & World Report (USNWR) rankings, on the whole, is only weakly related to graduate success. This suggests that the characteristics contributing to the value of a student's education differ substantially from what is typically assumed. The goal of this study is not to serve as a definitive source for ranking and comparing colleges. Rather, the research presented herein will hopefully serve as both an impetus and road ma

The impact of information frictions within regulators: evidence from workplace safety violations

The Occupational Safety and Health Administration (OSHA) is decentralized, wherein field offices coordinated at the state level undertake inspections. We study whether this structure can lead to interstate frictions in sharing information and how this impacts firms’ compliance with workplace safety laws. We find that firms caught violating in one state subsequently violate less in that state but violate more in other states. Despite this pattern, and in keeping with information frictions, violations in one state do not trigger proactive OSHA inspections in other states. Moreover, firms face lower monetary penalties when subsequent violations occur across state lines, likely due to the lack of documentation necessary to assess severe penalties. Finally, firms are more likely to shift violating behavior into states with greater information frictions. Our findings suggest that internal information within regulators impacts the likelihood and location of corporate misconduct

The hunt for the Milky Way's accreted disc

The Milky Way is expected to host an accreted disc of stars and dark matter. This forms as massive >1:10 mergers are preferentially dragged towards the disc plane by dynamical friction and then tidally shredded. The accreted disc likely contributes only a tiny fraction of the Milky Way's thin and thick stellar disc. However, it is interesting because: (i) its associated `dark disc' has important implications for experiments hoping to detect a dark matter particle in the laboratory; and (ii) the presence or absence of such a disc constrains the merger history of our Galaxy. In this work, we develop a chemo-dynamical template to hunt for the accreted disc. We apply our template to the high-resolution spectroscopic sample from Ruchti et al. (2011), finding at present no evidence for accreted stars. Our results are consistent with a quiescent Milky Way with no >1:10 mergers since the disc formed and a correspondingly light `dark disc'. However, we caution that while our method can robustly identify accreted stars, our incomplete stellar sample makes it more challenging to definitively rule them out. Larger unbiased stellar samples will be required for this.Comment: 14 pages; 8 figures; 1 table. Accepted for publication in MNRA

A test of speculative arbitrage : is the cross-section of volatility invariant?

We derive testable implications of Kyle and Obizhaeva’s (2016) notion of “bet invariance” for the cross-section of trade-time volatilities. We jointly develop theoretical foundations of “no speculative arbitrage” whose implications incorporate those of bet invariance. Our proposed test circumvents the unobservable nature of “bets.” Utilizing a large sample of U.S. stocks post decimilization, we show that using realized volatilities rather than expected volatilities introduces noise that substantially biases the tests. This leads us to use estimates of normalized volatilities based on running 24 month windows. We find strong support for no speculative arbitrage at a moment in time, but not across time

The night and day of Amihud’s (2002) liquidity measure

Amihud’s (2002) stock (il)liquidity measure averages the daily ratio of absolute closeto-close return to dollar volume, including overnight returns, while trading volumes come from regular trading hours. Our modified measure addresses this mis-match by using open-to-close returns. It better explains cross-sections of returns, doubling estimated liquidity premia over 1964–2017. Using non-synchronous trading near close as an instrument reveals that overnight returns are primarily information-driven and orthogonal to price impacts of trading. Thus, including them in liquidity proxies magnifies measurement error, understating liquidity premia. Our modification especially matters when applications in finance and accounting render use of intraday data infeasible/undesirable

Beam Test Results of the RADiCAL -- a Radiation Hard Innovative EM Calorimeter

High performance calorimetry conducted at future hadron colliders, such as the FCC-hh, poses a significant challenge for applying current detector technologies due to unprecedented beam luminosities and radiation fields. Solutions include developing scintillators that are capable of separating events at the sub-fifty picosecond level while also maintaining performance after extreme and constant neutron and ionizing radiation exposure. The RADiCAL is an approach that incorporates radiation tolerant materials in a sampling 'shashlik' style calorimeter configuration, using quartz capillaries filled with organic liquid or polymer-based wavelength shifters embedded in layers of tungsten plates and LYSO crystals. This novel design intends to address the Priority Research Directions (PRD) for calorimetry listed in the DOE Basic Research Needs (BRN) workshop for HEP Instrumentation. Here we report preliminary results from an experimental run at the Fermilab Test Beam Facility in June 2022. These tests demonstrate that the RADiCAL concept is capable of < 50 ps timing resolution.Comment: 5 pages, 10 figures, SCINT22 conferenc

Limits on WWZ and WW\gamma couplings from p\bar{p}\to e\nu jj X events at \sqrt{s} = 1.8 TeV

We present limits on anomalous WWZ and WW-gamma couplings from a search for WW and WZ production in p-bar p collisions at sqrt(s)=1.8 TeV. We use p-bar p -> e-nu jjX events recorded with the D0 detector at the Fermilab Tevatron Collider during the 1992-1995 run. The data sample corresponds to an integrated luminosity of 96.0+-5.1 pb^(-1). Assuming identical WWZ and WW-gamma coupling parameters, the 95% CL limits on the CP-conserving couplings are -0.33<lambda<0.36 (Delta-kappa=0) and -0.43<Delta-kappa<0.59 (lambda=0), for a form factor scale Lambda = 2.0 TeV. Limits based on other assumptions are also presented.Comment: 11 pages, 2 figures, 2 table

Probing BFKL Dynamics in the Dijet Cross Section at Large Rapidity Intervals in ppbar Collisions at sqrt{s}=1800 and 630 GeV

Inclusive dijet production at large pseudorapidity intervals (delta_eta) between the two jets has been suggested as a regime for observing BFKL dynamics. We have measured the dijet cross section for large delta_eta in ppbar collisions at sqrt{s}=1800 and 630 GeV using the DO detector. The partonic cross section increases strongly with the size of delta_eta. The observed growth is even stronger than expected on the basis of BFKL resummation in the leading logarithmic approximation. The growth of the partonic cross section can be accommodated with an effective BFKL intercept of a_{BFKL}(20GeV)=1.65+/-0.07.Comment: Published in Physical Review Letter

Search for Charged Higgs Bosons in Decays of Top Quark Pairs

We present a search for charged Higgs bosons in decays of pair-produced top quarks using 109.2 +- 5.8 pb^-1 of data recorded from ppbar collisions at sqrt{s} = 1.8 TeV by the D0 detector during 1992-96 at the Fermilab Tevatron. No evidence is found for charged Higgs production, and most parts of the [m(H+),tan(beta)] parameter space where the decay t -> bH+ has a branching fraction close to or larger than that for t -> bW+ are excluded at 95% confidence level. Assuming m(t) = 175 GeV and sigma(ppbar -> ttbar) = 5.5 pb, for m(H+) = 60 GeV, we exclude tan(beta) 40.9.Comment: 11 pages, 3 figures, submitted to PR

Evidence of Color Coherence Effects in W+jets Events from ppbar Collisions at sqrt(s) = 1.8 TeV

We report the results of a study of color coherence effects in ppbar collisions based on data collected by the D0 detector during the 1994-1995 run of the Fermilab Tevatron Collider, at a center of mass energy sqrt(s) = 1.8 TeV. Initial-to-final state color interference effects are studied by examining particle distribution patterns in events with a W boson and at least one jet. The data are compared to Monte Carlo simulations with different color coherence implementations and to an analytic modified-leading-logarithm perturbative calculation based on the local parton-hadron duality hypothesis.Comment: 13 pages, 6 figures. Submitted to Physics Letters