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    Link power coordination for energy conservation in complex communication networks

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    Communication networks consume huge, and rapidly growing, amount of energy. However, a lot of the energy consumption is wasted due to the lack of global link power coordination in these complex systems. This paper proposes several link power coordination schemes to achieve energy-efficient routing by progressively putting some links into energy saving mode and hence aggregating traffic during periods of low traffic load. We show that the achievable energy savings not only depend on the link power coordination schemes, but also on the network topologies. In the random network, there is no scheme that can significantly outperform others. In the scale-free network, when the largest betweenness first (LBF) scheme is used, phase transition of the networks' transmission capacities during the traffic cooling down phase is observed. Motivated by this, a hybrid link power coordination scheme is proposed to significantly reduce the energy consumption in the scale-free network. In a real Internet Service Provider (ISP)'s router-level Internet topology, however, the smallest betweenness first (SBF) scheme significantly outperforms other schemes.Comment: 6 pages, 4 figure

    "The Spirit of Capitalism and Asset Pricing: an Empirical Investigation"

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    We extend and test two models of aggregate asset pricing that feature status-seeking through accumulation of not only financial assets but also human capital. We use weak-identification robust tests to confront these models with U.S. data. Contrary to previous results, we find that the spirit of capitalism hypothesis, modeled as either direct preference for wealth or pursuit of relative wealth status, is rejected in the aggregate data. Therefore, adding status motive alone to an otherwise standard model may not be sufficient to resolve the equity premium puzzle.

    The Spirit of Capitalism and Asset Pricing: an Empirical Investigation (Subsequently published in "The B.E. Journal of Macroeconomics (Topics in Macroeconomics)", 2006, Vol. 6, Issue 3, Article 1, 1-23. )

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    We extend and test two models of aggregate asset pricing that feature status-seeking through accumulation of not only financial assets but also human capital. We use weak-identification robust tests to confront these models with U.S. data. Contrary to previous results, we find that the spirit of capitalism hypothesis, modeled as either direct preference for wealth or pursuit of relative wealth status, is rejected in the aggregate data. Therefore, adding status motive alone to an otherwise standard model may not be sufficient to resolve the equity premium puzzle.
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