Finding the one-loop soliton solution of the short-pulse equation by means of the homotopy analysis method

The homotopy analysis method is applied to the short-pulse equation in order to find an analytic approximation to the known exact solitary upright-loop solution. It is demonstrated that the approximate solution agrees well with the exact solution. This provides further evidence that the homotopy analysis method is a powerful tool for finding excellent approximations to nonlinear solitary waves

Some Exact Solutions to Equations of Motion of an Incompressible Third Grade Fluid

This investigation deals with some exact solutions of the equations governing the steady plane motions of an incompressible third grade fluid by using complex variables and complex functions. Some of the solutions admit, as particular cases, all the solutions of Moro et al[1].Comment: 6 pages, 7 figure

Private Intergenerational Transfers and Their Ability to Alleviate the Fiscal Burden of Ageing

The ratio of retirees to workers in developed countries is expected to increase sharply in the next few decades. In the presence of unfunded income support policies, this increase in old age dependency is expected to increase the future fiscal burden which is seen as a threat to living standards. This paper quantifies the ability of private intergenerational transfers to alleviate the future fiscal burden of ageing. This is done through developing an extended dynamic overlapping generations simulation model with realistic demographics. Calculation based on steady state simulations suggests that a bequest to GDP ratio of 1% offsets about 33.3 % of the fiscal burden over the lifecycle when measured as a % of simple labour income and 8.9% of the fiscal burden when measured as % of the full income. The model is calibrated for Australia under small open economy assumption such that the optimal solution mimic important cross sectional and time series fundamentals of the Australian Economy. Intergenerational accounting suggests that the empirically plausible intergenerational transfers are strong enough to offset most of the tax burden (81 to 91%) when measured as % of simple labour income and up to 1/4 of the burden when fiscal burden is measured as % of full income. In the endogenous labour supply case, 81 to 91 percent of the fiscal burden of ageing will be alleviated by inheritances in the base case. Due to the calibration strategy adopted, the paper analytically demonstrates that results of the simulations are robust to the introduction of lifetime uncertainty in the model where people discount the future by a rate of time preference and by a survival probability irrespective of whether there are perfect annuity markets or no annuity markets at all.Ageing, Overlapping Generations (OLG) model, bequests, fiscal

Modeling Social Preferences: A Generalized Model of Inequity Aversion

Taking note of the wide variety and growing list of models in the literature to explain patterns of behavior observed in laboratory experiments, this paper identifies two tests, the Variety Test (ability of a model to explain outcomes under variety or alternative scenarios) and the Psychological Test (ability of a model to conform to psychological intuition), that can be used to judge any model of other-regarding behavior. It is argued that for a mathematical model to qualify as a social welfare function, it must simultaneously pass the two tests. It is shown that none of the models proposed to date passes these two tests simultaneously. The paper proposes a generalized model of inequity aversion which parsimoniously explains interior solution in the dictator game and dynamics of outcomes in other games. The paper postulates that one’s idea of equitable distribution is state-dependent, where the state is determined by psychological and structural parameters. The state could be fair, superior or inferior. Individuals in a fair state have zero equity-bias and split the pie evenly. Those in a superior (inferior) state have positive (negative) equity-bias and value more (less) than fair distribution as equitable distribution. Given psychological tendencies of an individual, every experimental design/structure assigns one of the three states to players which lead to individual-specific valuation of equity. Prediction about outcomes across different experiments and designs can be made through predicting their impact on equity-bias. All aspects of an individual’s behavior, such as altruism, fairness, reciprocity, self-serving bias, kindness, intentions etc, manifest themselves in the equity-bias. The model therefore is all-encompassing.Experimental Economics, Social Preferences, Other-regarding Preferences, Inequity aversion.

Post-Disaster Road Reconstruction in Aceh - Local Governments’ Role in Road Maintenance

Many studies have shown the importance of improved road infrastructure towards economic development of a region through economic agglomeration and widened business network coverage resulting from better access and higher mobility. However, such benefit can only be achieved if road infrastructure remains accessible and reliable in the long term period. Accordingly, in addition to resources required for the construction, road management will also need to allocate adequate resources for the maintenance. In the event of major natural disasters, road infrastructure is among the sectors that often suffer from the greatest damages and losses. It is also suggested that reconstruction of road infrastructure is critical for a speedy recovery process. In the case of tsunami reconstruction in Aceh, Indonesia, poor road infrastructure is also argued to have caused delays and higher reconstruction cost. In most developing countries such as Indonesia, another important issue requiring particular attention is the ability and capability of local government in maintaining road infrastructures. In the post-tsunami reconstruction in Aceh, disregard to road classification and ownership status (national, Prov. or district), most of road reconstruction projects were either funded or co-funded by national government and donor agencies; which project outcomes were then transferred to local government. This resulted in giving additional burden to local governments with low technical and financial capacity for maintaining and ensuring the long term benefit of the investment, particularly where there are more road networks reconstructed than destroyed. Accordingly, this paper, which is based on an ongoing PhD study, discusses issues identified in the post-disaster road reconstruction in Aceh with regards to local governments’ capacity in road maintenance. The discussion includes regulations, policies and other aspects that contributed to the road management and maintenance within the context of Aceh post-tsunami reconstruction