The effect of fast and slow decisions on risk taking

We experimentally compare fast and slow decisions in a series of experiments on financial risk taking in three countries involving over 1700 subjects. To manipulate fast and slow decisions, subjects were randomly allocated to responding within 7 seconds (time pressure) or waiting for at least 7 or 20 seconds (time delay) before responding. To control for different effects of time pressure and time delay on measurement noise, we estimate separate parameters for noise and risk preferences within a random utility framework. We find that time pressure increases risk aversion for gains and risk taking for losses compared to time delay, implying that time pressure increases the reflection effect of Prospect Theory. The results for gains are weaker and less robust than the results for losses. We find no significant difference between time pressure and time delay for loss aversion (tested in only one of the experiments). Time delay also leads to less measurement noise than time pressure and unconstrained decisions, and appears to be an effective way of decreasing noise in experiments.     

Comparing swimsuits in 3D

In competitive swimming, suits have become more important. These suits influence friction, pressure and wave drag. Friction drag is related to the surface properties whereas both pressure and wave drag are greatly influenced by body shape. To find a relationship between the body shape and the drag, the anthropometry of several world class female swimmers wearing different suits was accurately defined using a 3D scanner and traditional measuring methods. The 3D scans delivered more detailed information about the body shape. On the same day the swimmers did performance tests in the water with the tested suits. Afterwards the result of the performance tests and the differences found in body shape was analyzed to determine the deformation caused by a swimsuit and its effect on the swimming performance. Although the amount of data is limited because of the few test subjects, there is an indication that the deformation of the body influences the swimming performance.     

Concurrent cognitive task may improve motor work performance and reduce muscle fatigue

Performance of certain cognitive tasks either during physical load or in rest pauses between boosts might lead to slowing of muscle fatigue and fatigue related decline in performance. Seventeen right-handed healthy volunteers (age 24 ± 1.4, 8 males) participated in this study, aiming to investigate the effect of the level of the cognitive information processing - 1) passive perception of audio stimuli, 2) active stimuli discrimination, 3) active stimuli discrimination following motor response - on motor task performance (handgrip test 30% and 7% of MVC) and muscle fatigue development. Cognitive tasks show the following effects on motor work: i) Perceived fatigue during 30 % MVC (fatiguing) condition developed slower if participant pressed button in response to deviant acoustic stimuli, as compared to passive listening. Counting task, an active task without motor component, took the intermediate position and did not differ significantly from two other cognitive tasks. ii) MVC after 30% MVC (fatiguing) condition tended to decrease stronger when accompanied with passive listening in comparison with both active tasks. iii) Motor task performance during 30% MVC (fatiguing) condition was better for active cognitive task with motor component than for passive task. Active task without motor component took the intermediate position and did not differ significantly from both the other cognitive tasks.     

STUDENTS WHO CHOOSE AND THE SCHOOLS THEY LEAVE: Examining Participation in Intradistrict Transfers

Data from one urban school district is analyzed to examine equity‐based arguments about school choice as they pertain to intradistrict transfer policies. We specifically examine which factors influence the propensity for parents to participate in choice, and how choice schools differ from the schools that students are zoned to attend. We find that advantaged and disadvantaged parents make similar choices in that they are both likely to choose more affluent schools with better academic records than the schools they are zoned to attend. However, these choices operate in different spheres, as advantaged parents choose the most affluent schools with the best academic records, and disadvantaged parents choose away from the least affluent schools with the worst academic records to schools that are slightly better.     

Private equity regulation: a comparative analysis

This article examines the existing contractual arrangements and industry standards in private equity. It shows that investors are, in principle, capable of structuring their particular investments according to their own preferences, there are a range of governance problems and risks that could be potentially hazardous for some classes of investors. We examine the circumstances where existing industry codes and legal tools can be used to address the problems that arise in relation to private equity and buyout activity.     

Rules Infants Look By: Testing the Assumption of Transitivity in Visual Salience

What drives infants’ attention in complex visual scenes? Early models of infant attention suggested that the degree to which different visual features were detectable determines their attentional priority. Here, we tested this by asking whether two targets—defined by different features, but each equally salient when evaluated independently—would drive attention equally when pitted head‐to‐head. In Experiment 1, we presented 6‐month‐old infants with an array of Gabor patches in which a target region varied either in color or spatial frequency from the background. Using a forced‐choice preferential‐looking method, we measured how readily infants fixated the target as its featural difference from the background was parametrically increased. Then, in Experiment 2, we used these psychometric preference functions to choose values for color and spatial frequency targets that were equally salient (preferred), and pitted them against each other within the same display. We reasoned that if salience is transitive, then the stimuli should be iso‐salient and infants should therefore show no systematic preference for either stimulus. On the contrary, we found that infants consistently preferred the color‐defined stimulus. This suggests that computing visual salience in more complex scenes needs to include factors above and beyond local salience values.     

Students’ conceptualisations of critical reflection

Critical reflection involves the identification of deeply seated assumptions about the social world and the individual’s connection with it; however, its scope and practice are contested. While ambivalence about its definition remains, critical reflection is described as a threshold concept in social welfare and social work education. This study investigated students’ conceptualisations of critical reflection by analysing the ‘learned’ critical reflection curricula of five core units in an Australian University. A content analysis of 162 assignments submitted by 86 students in 2013 and 2014 was conducted. Findings revealed students conceptualised critical reflection as a process that raised self-awareness, supported the application of theory in practice and, reinforced aspects of their professional identity. However, students adapted the process to fit their purpose and, when personal views clashed with professional practice, rather than examining the tensions that emerged, students privileged professional practice and silenced their personal views. Students did not engage with critical reflection to foster social change; rather their utilitarian approach positioned them to demonstrate competence in professional procedures. These findings highlight the influence of the contexts within which critical reflection is practised and informs the further development of the authors’ pedagogy.     

The “Silent Dog” Method: Analyzing the Impact of Self-Generated Rules When Teaching Different Computer Chains to Boys with Autism

The purpose of the study was to extend the literature on verbal self-regulation by using the “silent dog” method to evaluate the role of verbal regulation over nonverbal behavior in 2 individuals with autism. Participants were required to talk-aloud while performing functional computer tasks.Then the effects of distracters with increasing demands on target behavior were evaluated as well as whether self-talk emitted by Participant 1 could be used to alter Participant 2''s performance. Results suggest that participants'' tasks seemed to be under control of self-instructions, and the rules generated from Participants 1''s self-talk were effective in teaching computer skills to Participant 2. The silent dog method was useful in evaluating the possible role of self-generated rules in teaching computer skills to participants with autism.     

Pandemic Recovery Analysis Using the Dynamic Inoperability Input-Output Model

Economists have long conceptualized and modeled the inherent interdependent relationships among different sectors of the economy. This concept paved the way for input-output modeling, a methodology that accounts for sector interdependencies governing the magnitude and extent of ripple effects due to changes in the economic structure of a region or nation. Recent extensions to input-output modeling have enhanced the model's capabilities to account for the impact of an economic perturbation; two such examples are the inoperability input-output model^{( 1 , 2 )} and the dynamic inoperability input-output model (DIIM).^{( 3 )} These models introduced sector inoperability, or the inability to satisfy as-planned production levels, into input-output modeling. While these models provide insights for understanding the impacts of inoperability, there are several aspects of the current formulation that do not account for complexities associated with certain disasters, such as a pandemic. This article proposes further enhancements to the DIIM to account for economic productivity losses resulting primarily from workforce disruptions. A pandemic is a unique disaster because the majority of its direct impacts are workforce related. The article develops a modeling framework to account for workforce inoperability and recovery factors. The proposed workforce-explicit enhancements to the DIIM are demonstrated in a case study to simulate a pandemic scenario in the Commonwealth of Virginia.