Relative deprivation as a cause of risky behaviors

ABSTRACT

Combining a standard measure of concern about low relative wealth and a standard measure of relative risk aversion leads to a novel explanation of variation in risk-taking behavior identified and documented by social psychologists and economists. We obtain two results: (1) Holding individual i’s wealth and his rank in the wealth distribution constant, the individual’s relative risk aversion decreases when he becomes more relatively deprived as a result of an increase in the average wealth of the individuals who are wealthier than he is. (2) If relative deprivation enters the individual’s utility function approximately linearly then, holding constant individual i’s wealth and the average wealth of the individuals who are wealthier than he is, the individual’s relative risk aversion decreases when he becomes more relatively deprived as a result of a decline in his rank. Our findings provide a theoretical support for evidence about the propensity of relatively deprived individuals to gamble and resort to other risky behaviors.     

Stability of vibrations of finite amplitude in an electron-ion ring

The article discusses transverse vibrations of finite amplitude in an electron-ion ring. Far from the region of linear resonances, an equation is obtained for slowly varying amplitudes, and the conditions are found for the excitation of instability of the negative pressure type. Near the lower boundary of the region of linear instability, the conditions are found under which nonlinearity breaks down the stability of the vibrations with finite amplitudes.Translated from Zhurnal Prikladnoi Mekhaniki i Tekhnicheskoi Fiziki, No. 3, pp. 170–172, May–June, 1974.The author is indebted to B. V. Chirikov for his evaluation of the results of the work.     

The influence of flow-induced non-Newtonian fluid properties on turbulent drag reduction

Friction factors and velocity profiles in turbulent drag reduction can be compared to Newtonian fluid turbulence when the shear viscosity at the wall shear rate is used for the Reynolds number and the local shear viscosity is used for the non-dimensional wall distance. On this basis, an apparent maximum drag reduction asymptote is found which is independent of Reynolds number and type of drag reducing additive. However, no shear viscosity is able to account for the difference between the measured Reynolds stress and the Reynolds stress calculated from the mean velocity profile (the Reynolds stress deficit). If the appropriate local viscosity to use with the velocity fluctuation correlations includes an elongational component, the problem can be resolved. Taking the maximum drag reduction asymptote as a non-Newtonian flow, with this effective viscosity, leads to agreement with the concept of an asymptote only when the solvent viscosity is used in the non-dimensional wall distance.     

Correlation between Ferromagnetic Layer Easy Axis and the Tilt Angle of Self Assembled Chiral Molecules

The spin–spin interactions between chiral molecules and ferromagnetic metals were found to be strongly affected by the chiral induced spin selectivity effect. Previous works unraveled two complementary phenomena: magnetization reorientation of ferromagnetic thin film upon adsorption of chiral molecules and different interaction rate of opposite enantiomers with a magnetic substrate. These phenomena were all observed when the easy axis of the ferromagnet was out of plane. In this work, the effects of the ferromagnetic easy axis direction, on both the chiral molecular monolayer tilt angle and the magnetization reorientation of the magnetic substrate, are studied using magnetic force microscopy. We have also studied the effect of an applied external magnetic field during the adsorption process. Our results show a clear correlation between the ferromagnetic layer easy axis direction and the tilt angle of the bonded molecules. This tilt angle was found to be larger for an in plane easy axis as compared to an out of plane easy axis. Adsorption under external magnetic field shows that magnetization reorientation occurs also after the adsorption event. These findings show that the interaction between chiral molecules and ferromagnetic layers stabilizes the magnetic reorientation, even after the adsorption, and strongly depends on the anisotropy of the magnetic substrate. This unique behavior is important for developing enantiomer separation techniques using magnetic substrates.     

Electrical body forces and electrical tractions in the nonlinear response of ferroelectric actuators

The influence of the electrical body forces and electrical tractions on the nonlinear response of ferroelectric stack actuators is analytically investigated. While the role of the electrical body forces and tractions in the response of piezoelectric actuators is well documented (and in many cases is not significant), the questions of their effect on ferroelectric active materials is still of interest. To examine this influence, the analytical model for the electro-mechanical behavior of a ferroelectric stack actuator is augmented to account for the electrical body forces along the actuator and the electrical tractions at the material–electrode interfaces. Focusing on the effect of the electrical forces and tractions on the ferroelectric domain switching phenomenon, the model is used for the numerical analysis of a ferroelectric layer and for the comparison with the case that neglects the electrical body forces and traction. The comparison theoretically designates cases in which the effect of the electrical body forces and tractions may be prominent and other cases where the classical approach that neglects these effects can be adopted.     

The minmax regret gradual covering location problem on a network with incomplete information of demand weights

The gradual covering location problem seeks to establish facilities on a network so as to maximize the total demand covered, allowing partial coverage. We focus on the gradual covering location problem when the demand weights associated with nodes of the network are random variables whose probability distributions are unknown. Using only information on the range of these random variables, this study is aimed at finding the “minmax regret” location that minimizes the worst-case coverage loss. We show that under some conditions, the problem is equivalent to known location problems (e.g. the minmax regret median problem). Polynomial time algorithms are developed for the problem on a general network with linear coverage decay functions.     

Optimizing capacity,pricing and location decisions on a congested network with balking

In this paper, we consider the problem of making simultaneous decisions on the location, service rate (capacity) and the price of providing service for facilities on a network. We assume that the demand for service from each node of the network follows a Poisson process. The demand is assumed to depend on both price and distance. All facilities are assumed to charge the same price and customers wishing to obtain service choose a facility according to a Multinomial Logit function. Upon arrival to a facility, customers may join the system after observing the number of people in the queue. Service time at each facility is assumed to be exponentially distributed. We first present several structural results. Then, we propose an algorithm to obtain the optimal service rate and an approximate optimal price at each facility. We also develop a heuristic algorithm to find the locations of the facilities based on the tabu search method. We demonstrate the efficiency of the algorithms numerically.