18,714 research outputs found

    On polyhedral approximations of the positive semidefinite cone

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    Let DD be the set of n×nn\times n positive semidefinite matrices of trace equal to one, also known as the set of density matrices. We prove two results on the hardness of approximating DD with polytopes. First, we show that if 0<Ï”<10 < \epsilon < 1 and AA is an arbitrary matrix of trace equal to one, any polytope PP such that (1−ϔ)(D−A)⊂P⊂D−A(1-\epsilon)(D-A) \subset P \subset D-A must have linear programming extension complexity at least exp⁥(cn)\exp(c\sqrt{n}) where c>0c > 0 is a constant that depends on Ï”\epsilon. Second, we show that any polytope PP such that D⊂PD \subset P and such that the Gaussian width of PP is at most twice the Gaussian width of DD must have extension complexity at least exp⁥(cn1/3)\exp(cn^{1/3}). The main ingredient of our proofs is hypercontractivity of the noise operator on the hypercube.Comment: 12 page

    LANGUAGE MAINTENANCE AND LANGUAGE SHIFT

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    In language shifts, ancestral tongues are abandoned by their speakers and replaced, in one way or another, by dominant languages. Such changes in language use will ultimately lead to the irreversible suppression of the world's language diversity. Language maintenance attempts to counter these processes. Linguists may assist ethno linguistic minorities in safeguarding their threatened languages in many different ways, including establishing orthography when necessary, but speakers decide to abandon their heritage languages within a broad socio-political and economic context. Communities uphold or give up languages, so only the speakers of endangered languages themselves can opt for and execute language maintenance activities. Linguists might have to accept that some communities may no longer care for their heritage languages

    Monetary-Exchange Rate Policy and Current Account Dynamics

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    A dynamic stochastic general equilibrium monetary model with incomplete and imperfect asset markets, monopolistic competition and staggered nominal price rigidities is developed to shed light on the role of exchange rate and its relation with current account dynamics in the formulation of monetary-exchange rate policies. The paper shows that because of incomplete risk sharing, due to incomplete asset markets, the dynamic relationship between real exchange rate and net foreign assets affect the behaviour of domestic inflation and aggregate output. This, in turn, implies that the optimal monetary policy entail a response to net foreign asset position or the real exchange rate gap defined as the difference between actual real exchange rate and the value that would prevail with flexible prices and complete asset markets. In comparing the performance of alternative monetary-exchange rate policy rules, an interesting and fairly robust result that stands out is that ‘dirty floating’ out-performs flexible exchange rate regime with domestic inflation targeting.optimal monetary policy; incomplete asset markets; net foreign assets; current account dynamics; inflation targeting; exchange rate policy

    EMPLOYEE STOCK OPTIONS INCENTIVE EFFECTS: A CPT-BASED MODEL

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    This paper examines the incentives from stock options for loss-averse employees subject to probability weighting. Employing the certainty equivalence principle, I built on insights from Cumulative Prospect Theory (CPT) to derive a continuous time model to value options from the perspective of a representative employee. Consistent with a growing body of empirical and experimental studies, the model predicts that the employee may overestimate the value of his options in-excess of their risk-neutral value. This is nevertheless in stark contrast with a common finding of standard models based on the Expected Utility Theory (EUT) framework that options value to a risk-averse undiversified employee is strictly lower than the value to risk-neutral outside investors. In particular, I proved that loss aversion and probability weighting have countervailing effects on the option subjective value. In addition, for typical setting of preferences parameters around the experimental estimates, and assuming the company is allowed to adjust existing compensation when making new stock option grants, the model predicts that incentives are maximized for strike prices set around the stock price at inception. This finding is consistent with companies' actual compensation practices that standard EUT-based models have difficulties accommodating their existence.Stock options, Cumulative Prospect Theory, Incentives, Subjective value

    Patterns and motivations predicting mobile hard news and soft news consumption: The case of the UAE

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    The purpose of this study is to examine Emirati university students\u27 usage of smartphones as a news resource. In addition to the motivations, patterns, and relationships between hard news and soft news consumption and the different gratifications sought, this study adopted perspectives from the both the uses and gratifications and media displacement theories and utilized a quantitative research design. Data was collected from 488 undergraduate students between February 2019 and March 2019. Results revealed that students were interested in both hard and soft news, but there was 7% more soft news consumption by students. Additionally, results revealed that smartphones have become students\u27 main source of news as they allow them to find information easily. When assessing the relationships and dynamics between mobile news and the gratifications sought, results revealed that the convenience gratification was the only predictor of both mobile soft news and hard news out of all the gratifications offered

    Price Level vs. Nominal Income Targeting: Aggregate Demand Shocks and the Cost Channel of Monetary Policy Transmission

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    This paper incorporates both the traditional aggregate demand-interest rate channel and the cost channel of monetary policy in a baseline ‘new Keynesian’ model and study two targeting regimes --- price-level targeting and nominal income targeting. In light of empirical considerations, alternative specifications for the aggregate demand and aggregate supply side of the economy also considered. The main result is that the cost channel matters: in case of a moderate policy response and with the cost channel operating the volatility of real output decreases under both price-level and nominal income targeting, while it increases in case of an aggressive policy response. The paper also finds that nominal income targeting performs better than price level targeting in bringing down the volatility of real output in almost all the specifications of the macro models used in the analysis.the cost channel; price level targeting; nominal income targeting

    Crashworthiness capability of jute and glass fibre reinforced epoxy tubes under quasi-static loading condition for automotive application

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    During last few years, the interest in using natural fibers as reinforcement in polymers has increased dramatically. Natural fibers are not only strong and lightweight but also relatively very cheap. This study examined the potential utilization of jute in the crash energy absorption. A combination of hand layup and vacuum bladder technique was kused to search the influence of utilizing jute fibre on crashworthiness parameters of composite materials. To improve the mechanical properties, jute fiber was hybridized with glass fiber. In this work, there are two main parts of study. Firstly, it is to investigate the effect of cross-sectional shapes, number of layers and temperature treatment on the progressive deformation of jute/epoxy composite tubes. Secondly, the suitable type of geometry was chosen to study the effect of hybrid (jute-glass/epoxy) onto the structural designs. All the tests were undergone quasi-static axial crushing of 10 mm/min. Their peak load (Pmax), mean load (Pm), energy absorption (EA) and specific energy absorption (SEA) were discussed in detail. In the study of types of five geometrical shapes (corrugated, circular, hexagonal, octagonal and decagonal cross sectional) with different number of layers (two, three and four layers). It is found that the corrugated geometric shape with three layers (RHS) gives the best energy absorption (30.92 J/g) in specific energy absorption parameter compared to other geometries used in present study. For the temperature treatment, the results showed that the post-curing by gradual temperature treatment (TT) improved the peak load by decreased with 55% as compared to similar circular specimen without temperature treatment (No TT). From the test, it is found that the substitution of one layer of jute fibre with one layer of glass fibre resulted in an improvement in the crashworthiness parameters than layers jute. The best result was obtained when hybrid jute-glass was used, where the energy absorption and specific energy absorption was improved by about 43% and 31%, respectively
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