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Sample records for discount window loan

  1. Delay and probability discounting among payday and title loan recipients.

    Mahoney, Colin T; Lawyer, Steven R

    2016-04-01

    Payday and title loans are short-term loans associated with significant economic impact. Behavioral theories of impulsive choice may provide insight into behavioral processes that underlie the propensity to take out payday and title loans. Adults between the ages of 18 and 30 recruited from the community completed delay and probability discounting tasks for hypothetical money as well as measures of substance use. Patterns of discounting were characterized using a hyperbolic decay model and area under the curve. Participants who took out a payday and/or title loan in the past (n=41) exhibited more impulsive choice patterns on the delay discounting task than did those who did not (n=255). Substance use mediated this relationship between payday and title loan retention and delay discounting. These findings suggest potentially important relationships between payday/title loan borrowing, substance use, and delay discounting. Copyright © 2016 Elsevier B.V. All rights reserved.

  2. Discounting

    Jones, P.M.S.

    1987-01-01

    Discounting is a procedure used to facilitate comparison of investment options where either or both the investment and income are spread out in time. It is based on the observation that under most circumstances a sum of money in the hand is worth more to the holder than the same sum in real terms in the future, because the holder can use the money in the intervening time. As discounting is used widely in economic assessment it is valid to use it for assessing electricity generation by nuclear power or fuel cycle costs. The way in which discounting works is explained, including factors such as risk and non-monetary aspects. The rate of the discount is a matter of government policy. In the United Kingdom it is currently (1986) 5 percent per annum for projects such as hospitals and road building. There is no good reason for this to be different for energy projects. (U.K.)

  3. Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) or Superfund, Section 104(k); and CERCLA Section 104(d); ‘‘ ‘Discounted Loans’ Under Brownfields Revolving Loan Fund Grants’

    Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) or Superfund, Section 104(k); and CERCLA Section 104(d); ‘‘ ‘Discounted Loans’ Under Brownfields Revolving Loan Fund Grants’`

  4. Windows

    Heiselberg, Per; Svidt, Kjeld; Nielsen, Peter V.

    In natural ventilation systems fresh air is often provided through opening of windows. However, the knowledge of the performance of windows is rather limited. Computation of natural ventilation air flow through windows is most commonly made using discharge coefficients, that are regarded as being...... constant. The reported results show that the discharge coefficient for a window opening cannot be regarded as a constant and that it varies considerably with the size of the opening area, the window type and the temperature difference. Therefore, the use of a constant value can lead to serious errors...

  5. 7 CFR 1786.153 - Discounted present value.

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Discounted present value. 1786.153 Section 1786.153... Discounted Prepayments on RUS Electric Loans § 1786.153 Discounted present value. (a) The discounted present value shall be calculated by summing the present values of all remaining payments on all Qualified Notes...

  6. 7 CFR 1786.53 - Discounted present value.

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Discounted present value. 1786.53 Section 1786.53... Special Discounted Prepayments on RUS Direct/Insured Loans § 1786.53 Discounted present value. The Discounted Present Value shall be calculated five business days before prepayment is made by summing the...

  7. Windows Azure

    Johnson, Bruce; Chambers, James; Garber, Danny; Malik, Jamal; Fazio, Adam

    2013-01-01

    A collection of five must-have Azure titles, from some of the biggest names in the field Available individually, but at a discounted rate for the collection, this bundle of five e-books covers key developer and IT topics of Windows Azure, including ASP.NET, mobile services, web sites, data storage, and the hybrid cloud. A host of Microsoft employees and MPVs come together to cover the biggest challenges that professionals face when working with Windows Azure. The e-books included are as follows: Windows Azure and ASP.NET MVC MigrationWindows Azure Mobile ServicesWindows Azure Web SitesWindows

  8. 24 CFR 201.13 - Interest and discount points.

    2010-04-01

    .... Interest on the loan shall accrue from the date of the loan, and shall be calculated on a simple interest... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Interest and discount points. 201... TITLE I PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS Loan and Note Provisions § 201.13 Interest and...

  9. Discounting Behavior

    Andersen, Steffen; Harrison, Glenn W.; Lau, Morten

    2014-01-01

    We re-evaluate the theory, experimental design and econometrics behind claims that individuals exhibit non-constant discounting behavior. Theory points to the importance of controlling for the non-linearity of the utility function of individuals, since the discount rate is defined over time-dated...

  10. Intergenerational discounting

    Schelling, T.C.

    1995-01-01

    A ''discount rate'' for the consumption of future generations from current investments for their benefit is typically composed of two parts: ''time preference'' and an allowance for the lower marginal utility of consumption due to higher average levels of consumption in the future. Time preference would be involved if one were postponing one's own consumption; it has little or nothing to do with income redistribution, which is what greenhouse abatement is about. A lower marginal utility of consumption is an anomaly in income redistribution: we rarely deliberately transfer consumption from the less to the more well-to-do. Time may serve as a kind of measure of distance; we may prefer beneficiaries who are closer in time, in geographical distance, in culture, surely in kinship. Perhaps to keep our thinking straight we should use a term like ''depreciation'', rather than ''discounting''. (Author)

  11. On multiple discount rates

    Chambers, Christopher P.; Echenique, Federico

    2016-01-01

    We propose a theory of intertemporal choice that is robust to specific assumptions on the discount rate. One class of models requires that one utility stream be chosen over another if and only if its discounted value is higher for all discount factors in a set. Another model focuses on an average discount factor. Yet another model is pessimistic, and evaluates a flow by the lowest available discounted value.

  12. Discounting in Economic Evaluations.

    Attema, Arthur E; Brouwer, Werner B F; Claxton, Karl

    2018-05-19

    Appropriate discounting rules in economic evaluations have received considerable attention in the literature and in national guidelines for economic evaluations. Rightfully so, as discounting can be quite influential on the outcomes of economic evaluations. The most prominent controversies regarding discounting involve the basis for and height of the discount rate, whether costs and effects should be discounted at the same rate, and whether discount rates should decline or stay constant over time. Moreover, the choice for discount rules depends on the decision context one adopts as the most relevant. In this article, we review these issues and debates, and describe and discuss the current discounting recommendations of the countries publishing their national guidelines. We finish the article by proposing a research agenda.

  13. Discounting and nuclear power

    Jones, P.M.S.

    1984-01-01

    The paper describes the practice of discounting and its applicability to nuclear power, and the choice of discount rates. Opportunity cost of capital; risk; social time preference; intergenerational equity; non-monetary aspects; and discounting and nuclear energy; are all discussed. (U.K.)

  14. Discounted Duration Calculus

    Ody, Heinrich; Fränzle, Martin; Hansen, Michael Reichhardt

    2016-01-01

    To formally reason about the temporal quality of systems discounting was introduced to CTL and LTL. However, these logic are discrete and they cannot express duration properties. In this work we introduce discounting for a variant of Duration Calculus. We prove decidability of model checking...... for a useful fragment of discounted Duration Calculus formulas on timed automata under mild assumptions. Further, we provide an extensive example to show the usefulness of the fragment....

  15. Discounting and Expropriation Risk

    Giovanni Immordino; Mario Padula

    2007-01-01

    This paper investigates the association between discounting and risk of expropriation and provides the theoretical conditions that make a positive association consistent with rationality. Moreover, using a national representative sample and a representative sample of the 50+ in eleven European countries, we show that discounting increases with expropriation risk. The two surveys give direct measures of discount rate as well as measures derived from households consumption decisions and provide...

  16. Discounting in Time

    Fahrenberg, Uli; Larsen, Kim Guldstrand

    2009-01-01

    This paper deals with the issue of discounting in weighted timed transition systems. Discounting provides a way to model optimal-cost problems for infinite runs and has applications in optimal scheduling and other areas. We show that when postulating a certain natural additivity property for the ......This paper deals with the issue of discounting in weighted timed transition systems. Discounting provides a way to model optimal-cost problems for infinite runs and has applications in optimal scheduling and other areas. We show that when postulating a certain natural additivity property...

  17. Values in Time Discounting.

    Heilmann, Conrad

    2017-10-01

    Controversies about time discounting loom large in decisions about climate change. Prominently, a particularly controversial debate about time discounting in climate change decision-making has been conducted within climate economics, between the authors of Stern et al. (Stern review on the economics of climate change, 2006) and their critics (most prominently Dasgupta in Comments on the Stern review's economics of climate change, 2006; Tol in Energy Environ 17(6):977-981, 2006; Weitzman in J Econ Lit XLV:703-724, 2007; Nordhaus in J Econ Lit XLV:686-702, 2007). The article examines the role of values in this debate. Firstly, it is shown that time discounting is a case in which values are key because it is at heart an ethical problem. Secondly, it is argued that time discounting in climate economics is a case of economists making frequent and routine references to ethical values and indeed conduct ethical debates with each other. Thirdly, it is argued that there is evidence for deep and pervasive entanglement between facts and values in the prevalent methodologies for time discounting. Finally, it is argued that this means that economists have given up the 'value-free ideal' concerning time discounting, and discussed how the current methodology of time discounting in economics can be improved.

  18. Open access discount information

    Lauren Doyle

    Wiley Interdisciplinary Reviews: Climate Change. Wiley offers OA in: Gold: ... International Journal of Health Services. Journal of ... Camridge University Press offers waivers and discounts based on: 1) Authors of ... based on the World Bank list.

  19. Understanding Windows | Efficient Windows Collaborative

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  20. 13 CFR 120.1860 - How will the SISMBD Loan be disbursed?

    2010-01-01

    ... other Collateral required by SBA and verification of the required first lien position. SBA will advance... less. Thus, if the loan is purchased at a discount to the principal balance, SBA will not advance more... SISMBD requests an advance under its SISMBD Loan, it will submit a written Loan Advance Request Form to...

  1. Social Discounting under Risk.

    Jin, Jia; Pei, Guanxiong; Ma, Qingguo

    2017-01-01

    As a measure of how prosocial behavior depends on social distance, social discounting is defined as the decrease in generosity between the decision maker and the recipient as the social distance increases. While risk is a ubiquitous part of modern life, there is limited research on the relationship between risk and prosocial behavior. In the present experiment, we empirically test whether risk has an influence on social discounting. We use the choice titration procedure to examine this effect. Our data show that independent of risk, participants are less eager to forego money and exhibit more selfishness toward a specific person when the social distance increases; these findings are reflected in the hyperbolic model. Interestingly, risk influences the shape of the social discounting function, which is reflected in the notable different discount rates. Individuals who make decisions under risk yield a smaller discount rate than those who make decisions without risk, i.e., under risk subjects reduce less their generosity as a function of the social distance. Furthermore, this distinct type of generosity occurs typically among individuals with 10-distance recipients but not with the closest- and furthest-social-distance recipients.

  2. Relevance of financial information in quick loans negotiation

    Salvador Cruz Rambaud

    2017-02-01

    Full Text Available Nowadays, most loan transactions are contracted by using the exponential discounting as the underlying standard economic model to value this type of financial operations. In a framework of absence of fees to be paid by the borrower, the interest rate of the exponential discount function is, moreover, the true interest rate of the operation. Nevertheless, there exist a set of circumstances which make this identity false. Among others, these characteristics are: the use of linear discount as the underlying discount function, splitting time when using a nominal interest rate, and the existence of fees in a loan at 0% interest rate. All these cases will be analyzed in this paper in the context of the so-called quick loans.

  3. Aggregate Social Discount Rate Derived from Individual Discount Rates

    Kenneth F. Reinschmidt

    2002-01-01

    In the economic evaluation of large public-sector projects, an aggregate social discount rate may be used in present worth comparison of alternatives. This paper uses the assumptions that individual discount rates are constant over time and approximately Normally distributed across the affected population, with mean \\mu and variance \\sigma 2 , to derive an aggregate discount function that is exponential in form but with time-dependent aggregate discount rate \\rho (t) = \\mu - \\sigma 2 t/2, whe...

  4. Decomposing the social discount rate

    Scarborough, Helen

    2010-01-01

    Recent modelling of the costs and benefits of climate change has renewed debate surrounding assumptions regarding the social discount rate in analysing the impacts of environmental change. Previous literature segments the social discount rate into being influenced by two key factors; the rate of pure time preference and the elasticity of marginal utility of future consumption. These components of the social discount rate reinforce the linkages between the choice of social discount rate and in...

  5. Cognitive Procedures and Hyperbolic Discounting

    Nir, A.

    2004-01-01

    "Hyperbolic discount functions are characterized by a relatively high discount rate over short horizons and a relatively low discount rate over long horizons" (Laibson 1997).We suggest two cognitive procedures where individuals perceive future utility as decreasing at a decreasing rate as a function

  6. Shopping in discount stores

    Zielke, Stephan

    2014-01-01

    quarters of intentions to shop in discount stores. Value perception has the strongest total effect, which is partly mediated by enjoyment, shame and guilt. Attributions influence the shopping intention indirectly via value perception and emotions. The inferior quality attribution has the strongest total......This paper analyzes the impact of price-related attributions, emotions and value perception on the intention to shop at grocery discounters in an integrated framework. Moderating effects of price consciousness are also analyzed. The results show that the proposed model explains almost three...... effect, followed by the efficiency of the business model attribution. The unfairness to stakeholders and the tricks in price communication attribution mostly influence the shopping intention for less price-conscious customers....

  7. LOAN BROKERS

    Adela IONESCU

    2014-05-01

    Full Text Available A loan is probably the most important financial decision we make in life. In a time when lack of time affects us in every way, including financially, we can only appeal to specialists if we want fast, reliable and quality long-term services. „The notion of “creditor” includes all legal entities, branches of credit institution and nonbankingfinancial institutions that operate in Romania and grant or undertake to grant loans in itscommercial of professional activity”. In the case of loans, the "specialist" has been called loan broker. Loan broker is a person trained in intermediating bank loans who offers advice on choosing the best financial solutions for each client. Through partnerships with banks in Romania, the broker has access to their credit products and assist customers in choosing the loan that best suits their financial needs and possibilities. Moreover, the broker will help in preparing loan application to be submitted to the bank and pursue it to its completion. Loan broker can be defined as the person authorized by the bank or non-bank financial institutions to promote their products through direct contact with natural or legal persons wishing to contract a loan, without any of the parties to have exclusivity. There can be defined as an independent bank or non-bank financial institution, as an intermediary between customers and banks. Through its financial advisors , the company helps customers overcome the difficulty of understanding the credit products, difficulties arising from the multitude of factors that compose such a product, especially in the case of a housing loan or mortgage. Each financial institution is doing everything possible through such partnerships to attract the largest possible portfolio of clients, therefore is developing a real network of brokers to be partners for local or national level (depending on the sites coverage of the branches of each institution on one or more types of credit products. The

  8. Network Effects Versus Strategic Discounting

    Zucchini, Leon; Claussen, Jörg; Trüg, Moritiz

    . Alternatively, research on strategic discounting suggests small operators use on-net discounts to advertise with low on-net prices. We test the relative strength of these effects using data on tariff setting in German mobile telecommunications between 2001 and 2009. We find that large operators are more likely......Mobile telecommunication operators routinely charge subscribers lower prices for calls on their own network than for calls to other networks (on-net discounts). Studies on tariff-mediated network effects suggest this is due to large operators using on-net discounts to damage smaller rivals...

  9. 5 CFR 1315.7 - Discounts.

    2010-01-01

    ... acceptance has occurred. Agencies are encouraged to include discount terms in a contract to give agencies... web site at http://www.fms.treas.gov/prompt/index.html. (b) Discounts taken after the discount date...

  10. Towards a healthier discount procedure.

    Klock, Rogier M; Brouwer, Werner Bf; Annemans, Lieven Jp; Bos, Jasper M; Postma, Maarten J

    2005-02-01

    Most national guidelines for pharmacoeconomic research prescribe discounting, mostly of money and health against the same rate. There is much debate on whether this is adequate. Two theoretical arguments, the consistency argument of Weinstein and Stason, and the paralyzing paradox of Keeler and Cretin, are mostly responsible for the current standards. However, more recently, several authors have indicated that the basis to claim the necessity of using similar discount rates is rather weak, both practically and theoretically. In terms of finding a new theoretical basis on which to base discount rates for money and, in particular, health, Van Hout has made an important suggestion arguing that the discount rate for health could be based on the expected growth in life expectancy and the diminishing marginal utility related to such additional health. Similarly, Gravelle and Smith argue that if the value of health grows over time, discount rates that are used for costs cannot directly be applied to effects, but should be adjusted downwards.

  11. Estimating Discount Rates

    Laurence Booth

    2015-04-01

    Full Text Available Discount rates are essential to applied finance, especially in setting prices for regulated utilities and valuing the liabilities of insurance companies and defined benefit pension plans. This paper reviews the basic building blocks for estimating discount rates. It also examines market risk premiums, as well as what constitutes a benchmark fair or required rate of return, in the aftermath of the financial crisis and the U.S. Federal Reserve’s bond-buying program. Some of the results are disconcerting. In Canada, utilities and pension regulators responded to the crash in different ways. Utilities regulators haven’t passed on the full impact of low interest rates, so that consumers face higher prices than they should whereas pension regulators have done the opposite, and forced some contributors to pay more. In both cases this is opposite to the desired effect of monetary policy which is to stimulate aggregate demand. A comprehensive survey of global finance professionals carried out last year provides some clues as to where adjustments are needed. In the U.S., the average equity market required return was estimated at 8.0 per cent; Canada’s is 7.40 per cent, due to the lower market risk premium and the lower risk-free rate. This paper adds a wealth of historic and survey data to conclude that the ideal base long-term interest rate used in risk premium models should be 4.0 per cent, producing an overall expected market return of 9-10.0 per cent. The same data indicate that allowed returns to utilities are currently too high, while the use of current bond yields in solvency valuations of pension plans and life insurers is unhelpful unless there is a realistic expectation that the plans will soon be terminated.

  12. Uranium loans

    Anon.

    1990-01-01

    When NUEXCO was organized in 1968, its founders conceived of a business based on uranium loans. The concept was relatively straightforward; those who found themselves with excess supplies of uranium would deposit those excesses in NUEXCO's open-quotes bank,close quotes and those who found themselves temporarily short of uranium could borrow from the bank. The borrower would pay interest based on the quantity of uranium borrowed and the duration of the loan, and the bank would collect the interest, deduct its service fee for arranging the loan, and pay the balance to those whose deposits were borrowed. In fact, the original plan was to call the firm Nuclear Bank Corporation, until it was discovered that using the word open-quotes Bankclose quotes in the name would subject the firm to various US banking regulations. Thus, Nuclear Bank Corporation became Nuclear Exchange Corporation, which was later shortened to NUEXCO. Neither the nuclear fuel market nor NUEXCO's business developed quite as its founders had anticipated. From almost the very beginning, the brokerage of uranium purchases and sales became a more significant activity for NUEXCO than arranging uranium loans. Nevertheless, loan transactions have played an important role in the international nuclear fuel market, requiring the development of special knowledge and commercial techniques

  13. Window Stories

    Hauge, Bettina

    This research project has investigated 17 households in Germany (cities and rural areas). The main aim was to learn about the significance of the window to these people: What they think of their windows, how, when and why they use them in their everyday life, if they have a favorite window and wh...

  14. Synchronisation of customers’ orders using discounts

    Buhayenko, Viktoryia; van Eikenhorst, Erik

    2016-01-01

    Conventionally, price discounts are offered to enhance demand, for example to get rid of excess inventory. This paper, however, studies the possibility of using discounts in situations when total demand is non-sensitive to changes in prices. By introducing a discount in some periods, the supplier...... the supplier's profit a modification of the heuristic which differs in the discount approximation used is developed....

  15. Assessing delay discounting in mice

    Mitchell, Suzanne H.

    2014-01-01

    Delay discounting (also intertemporal choice or impulsive choice) is the process by which delayed outcomes, such as delayed food delivery, are valued less than the same outcomes delivered immediately or with a shorter delay. This process is of interest because many psychopathologies, including substance dependence, pathological gambling, attention deficit hyperactivity disorder and conduct disorder, are characterized by heightened levels of delay discounting. Some of these disorders are herit...

  16. Proper Installation of Replacement Windows | Efficient Windows

    Collaborative Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring

  17. Window Glazing Types | Efficient Windows Collaborative

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  18. Window Frame Types | Efficient Windows Collaborative

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  19. Performance Standards for Windows | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  20. Benefits of Efficient Windows | Efficient Windows Collaborative

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  1. Assessing Window Replacement Options | Efficient Windows Collaborative

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  2. Windows for New Construction | Efficient Windows Collaborative

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  3. Window Operator Types | Efficient Windows Collaborative

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  4. 42 CFR 417.937 - Loan and loan guarantee provisions.

    2010-10-01

    ... 42 Public Health 3 2010-10-01 2010-10-01 false Loan and loan guarantee provisions. 417.937 Section... HEALTH CARE PREPAYMENT PLANS Administration of Outstanding Loans and Loan Guarantees § 417.937 Loan and loan guarantee provisions. (a) Disbursement of loan proceeds. The principal amount of any loan made or...

  5. 7 CFR 1751.103 - Loan and loan advance requirements.

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan and loan advance requirements. 1751.103 Section... Telecommunications Modernization Plan § 1751.103 Loan and loan advance requirements. (a) For information about loan... February 13, 1996, RUS will make RUS hardship loans, RUS cost-of-money loans, and RTB loans for facilities...

  6. Enhancing Cooperative Loan Scheme Through Automated Loan ...

    2013-03-01

    Mar 1, 2013 ... Financial transactions through manual system of operation .... Integrated Financial Accounting. The accounting processes for loans are supported within Loans ... principal and interest, and print checks, payment receipts, or ...

  7. Intergenerational equity and the social discount rate

    Scarborough, Helen

    2011-01-01

    Recent modelling of the costs and benefits of climate change has renewed debate regarding assumptions for the social discount rate in analysing the impacts of environmental change. Previous literature suggests two key factors influence estimates of the social discount rate: the rate of pure time preference and the elasticity of marginal utility of future consumption. These components of the social discount rate reinforce the linkages between the choice of social discount rate and intergenerat...

  8. 18 CFR 704.39 - Discount rate.

    2010-04-01

    ... 18 Conservation of Power and Water Resources 2 2010-04-01 2010-04-01 false Discount rate. 704.39... STANDARDS AND PROCEDURES Standards for Plan Formulation and Evaluation § 704.39 Discount rate. (a) The interest rate to be used in plan formulation and evaluation for discounting future benefits and computing...

  9. Federal Student Loan Programs

    Federal Student Aid, US Department of Education, 2014

    2014-01-01

    For those needing a loan to attend college, think federal aid first. Federal student loans usually offer borrowers lower interest rates and have more flexible repayment terms and options than private student loans. This brief report answers the following questions about federal aid: (1) What is a federal student loan?; (2) What is a private…

  10. Secretary Problems: Weights and Discounts

    Babaioff, M.; Dinitz, M.; Gupta, A.; Immorlica, Nicole Simone; Talwar, K.

    2009-01-01

    textabstractThe classical secretary problem studies the problem of selecting online an element (a “secretary”) with maximum value in a randomly ordered sequence. The difficulty lies in the fact that an element must be either selected or discarded upon its arrival, and this decision is irrevocable. Constant-competitive algorithms are known for the classical secretary problems and several variants. We study the following two extensions of the secretary problem: In the discounted secretary probl...

  11. Resources | Efficient Windows Collaborative

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  16. Window shopping

    Anon.

    1987-01-01

    'A large window for surprises' was how Gordon Kane of Michigan summarized the potential of the proposed 84-kilometre US Superconducting Supercollider (SSC). With George Trilling of Berkeley unable to attend this year's High Energy Physics Conference at Vanderbilt University, Nashville, Tennessee, from 8-10 October, Kane played a dual role - looking ahead to SSC physics, and summarizing the meeting

  17. Hyperbolic Discounting of the Far-Distant Future

    Anchugina, Nina; Ryan, Matthew; Slinko, Arkadii

    2017-01-01

    We prove an analogue of Weitzman's (1998) famous result that an exponential discounter who is uncertain of the appropriate exponential discount rate should discount the far-distant future using the lowest (i.e., most patient) of the possible discount rates. Our analogous result applies to a hyperbolic discounter who is uncertain about the appropriate hyperbolic discount rate. In this case, the far-distant future should be discounted using the probability-weighted harmonic mean of the possible...

  18. Life cycle costing with a discount rate

    Posner, E. C.

    1978-01-01

    This article studies life cycle costing for a capability needed for the indefinite future, and specifically investigates the dependence of optimal policies on the discount rate chosen. The two costs considered are reprocurement cost and maintenance and operations (M and O) cost. The procurement price is assumed known, and the M and O costs are assumed to be a known function, in fact, a non-decreasing function, of the time since last reprocurement. The problem is to choose the optimum reprocurement time so as to minimize the quotient of the total cost over a reprocurement period divided by the period. Or one could assume a discount rate and try to minimize the total discounted costs into the indefinite future. It is shown that the optimum policy in the presence of a small discount rate hardly depends on the discount rate at all, and leads to essentially the same policy as in the case in which discounting is not considered.

  19. Optimal Discount Rates for Government Projects

    Park, Sangkyun

    2012-01-01

    Project selection based on the net present value can be optimal only if the discount rate is optimal. The optimal discount rate for a government project can be a risk-free rate, a comparable market rate (market interest rate corresponding to the risk of cash flows to the government), or an adjusted market rate, depending on circumstances. This paper clarifies the conditions for each case. Provided that the optimal discount rate is the comparable market rate, it varies across intervention meth...

  20. Essays on Discounting Behavior and Gambling Behavior

    Jessen, Lasse J.

    2016-01-01

    This thesis consists of three independent chapters on the elicitation of individual discount rates and on the estimation of gambling prevalence in Denmark. The first chapter, “Discount Rate Sensitivity to Background Consumption and Consumption Smoothing,” studies the sensitivity of individual discount rates with respect to background consumption and consumption smoothing. I use simulated choice data from standard decision tasks in time preference experiments and show that indiv...

  1. Strategic Windows

    Risberg, Annette; King, David R.; Meglio, Olimpia

    We examine the importance of speed and timing in acquisitions with a framework that identifies management considerations for three interrelated acquisition phases (selection, deal closure and integration) from an acquiring firm’s perspective. Using a process perspective, we pinpoint items within ...... acquisition phases that relate to speed. In particular, we present the idea of time-bounded strategic windows in acquisitions consistent with the notion of kairòs, where opportunities appear and must be pursued at the right time for success to occur....

  2. Window shopping

    Oz Shy

    2013-01-01

    The terms "window shopping" and "showrooming" refer to the activity in which potential buyers visit a brick-and-mortar store to examine a product but end up either not buying it or buying the product from an online retailer. This paper analyzes potential buyers who differ in their preference for after-sale service that is not offered by online retailers. For some buyers, making a trip to the brick-and-mortar store is costly; however, going to the store to examine the product has the advantage...

  3. Discounting in economics and climate change

    Nordhaus, W.D.

    1997-01-01

    This paper examines the complexity of the issues surrounding the discounting issue as applied to the economics of climatic change. It is assumed that living standards will continue to improve, and that future generations will be more able to resource environmental improvements than our own. Measures to counter climate change now may have a deleterious effect on economic growth. Approaches to this situation include: lowering the discount rate; differential discounting; climate targeting; and emissions or concentrations limitations. Policies that focus directly on reducing pollutants are likely to have fewer deleterious economic effects than those that manipulate the discount rate on goods. 3 refs., 2 figs

  4. A 5-trial adjusting delay discounting task: Accurate discount rates in less than 60 seconds

    Koffarnus, Mikhail N.; Bickel, Warren K.

    2014-01-01

    Individuals who discount delayed rewards at a high rate are more likely to engage in substance abuse, overeating, or problem gambling. Findings such as these suggest the value of methods to obtain an accurate and fast measurement of discount rate that can be easily deployed in variety of settings. In the present study, we developed and evaluated the 5-trial adjusting delay task, a novel method of obtaining discount rate in less than one minute. We hypothesized that discount rates from the 5-trial adjusting delay task would be similar and correlated with discount rates from a lengthier task we have used previously, and that four known effects relating to delay discounting would be replicable with this novel task. To test these hypotheses, the 5-trial adjusting delay task was administered to 111 college students six times to obtain discount rates for six different commodities, along with a lengthier adjusting amount discounting task. We found that discount rates were similar and correlated between the 5-trial adjusting delay task and the adjusting amount task. Each of the four known effects relating to delay discounting was replicated with the 5-trial adjusting delay task to varying degrees. First, discount rates were inversely correlated with amount. Second, discount rates between past and future outcomes were correlated. Third, discount rates were greater for consumable rewards than with money, although we did not control for amount in this comparison. Fourth, discount rates were lower when zero amounts opposing the chosen time point were explicitly described. Results indicate that the 5-trial adjusting delay task is a viable, rapid method to assess discount rate. PMID:24708144

  5. A 5-trial adjusting delay discounting task: accurate discount rates in less than one minute.

    Koffarnus, Mikhail N; Bickel, Warren K

    2014-06-01

    Individuals who discount delayed rewards at a high rate are more likely to engage in substance abuse, overeating, or problem gambling. Such findings suggest the value of methods to obtain an accurate and fast measurement of discount rate that can be easily deployed in variety of settings. In the present study, we developed and evaluated the 5-trial adjusting delay task, a novel method of obtaining a discount rate in less than 1 min. We hypothesized that discount rates from the 5-trial adjusting delay task would be similar and would correlate with discount rates from a lengthier task we have used previously, and that 4 known effects relating to delay discounting would be replicable with this novel task. To test these hypotheses, the 5-trial adjusting delay task was administered to 111 college students 6 times to obtain discount rates for 6 different commodities, along with a lengthier adjusting amount discounting task. We found that discount rates were similar and correlated between the 5-trial adjusting delay task and the adjusting amount task. Each of the 4 known effects relating to delay discounting was replicated with the 5-trial adjusting delay task to varying degrees. First, discount rates were inversely correlated with amount. Second, discount rates between past and future outcomes were correlated. Third, discount rates were greater for consumable rewards than with money, although we did not control for amount in this comparison. Fourth, discount rates were lower when $0 amounts opposing the chosen time point were explicitly described. Results indicate that the 5-trial adjusting delay task is a viable, rapid method to assess discount rate. PsycINFO Database Record (c) 2014 APA, all rights reserved.

  6. Evaluation of Deep Discount Fare Strategies

    1995-08-01

    This report evaluates the success of a fare pricing strategy known as deep discounting, that entails the bulk sale of transit tickets or tokens to customers at a significant discount compared to the full fare single ticket price. This market-driven s...

  7. Smoking, Discount Rates, and Returns to Education

    Fersterer, Josef; Winter-Ebmer, Rudolf

    2003-01-01

    Individual time preference determines schooling enrolment. Moreover, smoking behavior in early ages has been shown to be highly related to time preference rates. Insofar as discount rates are uncorrelated to ability, predicting school enrolment by discount rates can get rid of the ability bias in an earnings regression. Accordingly, we use smoking…

  8. Essays on Discounting Behavior and Gambling Behavior

    Jessen, Lasse J.

    This thesis consists of three independent chapters on the elicitation of individual discount rates and on the estimation of gambling prevalence in Denmark. The first chapter, “Discount Rate Sensitivity to Background Consumption and Consumption Smoothing,” studies the sensitivity of individual...

  9. Survey of time preference, delay discounting models

    John R. Doyle

    2013-03-01

    Full Text Available The paper surveys over twenty models of delay discounting (also known as temporal discounting, time preference, time discounting, that psychologists and economists have put forward to explain the way people actually trade off time and money. Using little more than the basic algebra of powers and logarithms, I show how the models are derived, what assumptions they are based upon, and how different models relate to each other. Rather than concentrate only on discount functions themselves, I show how discount functions may be manipulated to isolate rate parameters for each model. This approach, consistently applied, helps focus attention on the three main components in any discounting model: subjectively perceived money; subjectively perceived time; and how these elements are combined. We group models by the number of parameters that have to be estimated, which means our exposition follows a trajectory of increasing complexity to the models. However, as the story unfolds it becomes clear that most models fall into a smaller number of families. We also show how new models may be constructed by combining elements of different models. The surveyed models are: Exponential; Hyperbolic; Arithmetic; Hyperboloid (Green and Myerson, Rachlin; Loewenstein and Prelec Generalized Hyperboloid; quasi-Hyperbolic (also known as beta-delta discounting; Benhabib et al's fixed cost; Benhabib et al's Exponential / Hyperbolic / quasi-Hyperbolic; Read's discounting fractions; Roelofsma's exponential time; Scholten and Read's discounting-by-intervals (DBI; Ebert and Prelec's constant sensitivity (CS; Bleichrodt et al.'s constant absolute decreasing impatience (CADI; Bleichrodt et al.'s constant relative decreasing impatience (CRDI; Green, Myerson, and Macaux's hyperboloid over intervals models; Killeen's additive utility; size-sensitive additive utility; Yi, Landes, and Bickel's memory trace models; McClure et al.'s two exponentials; and Scholten and Read's trade

  10. Discounting Behaviour and the Magnitude Effect

    Andersen, Steffen; Harrison, Glenn W.; Lau, Morten Igel

    2013-01-01

    We evaluate the claim that individuals exhibit a magnitude effect in their discounting behaviour, where higher discount rates are inferred from choices made with lower principals, all else being equal. If the magnitude effect is quantitatively significant, it is not appropriate to use one discount...... rate that is independent of the scale of the project for cost–benefit analysis and capital budgeting. Using data from a field experiment in Denmark, we find statistically significant evidence of a magnitude effect that is much smaller than is claimed. This evidence surfaces only if one controls...

  11. Entrance Counseling Guide for Direct Loan Borrowers

    Federal Student Aid, US Department of Education, 2010

    2010-01-01

    This guide describes the four types of loans offered by the Direct Loan Program[SM]: (1) Direct Subsidized Loans; (2) Direct Unsubsidized Loans; (3) Direct PLUS Loans; and (4) Direct Consolidation Loans. Among the topics covered in the guide are: Use of Your Loan Money, The Master Promissory Note, How Your Loans Will Be Disbursed (Paid Out),…

  12. Positive mood effects on delay discounting.

    Hirsh, Jacob B; Guindon, Alex; Morisano, Dominique; Peterson, Jordan B

    2010-10-01

    Delay discounting is the process by which the value of an expected reward decreases as the delay to obtaining that reward increases. Individuals with higher discounting rates tend to prefer smaller immediate rewards over larger delayed rewards. Previous research has indicated that personality can influence an individual's discounting rates, with higher levels of Extraversion predicting a preference for immediate gratification. The current study examined how this relationship would be influenced by situational mood inductions. While main effects were observed for both Extraversion and cognitive ability in the prediction of discounting rates, a significant interaction was also observed between Extraversion and positive affect. Extraverted individuals were more likely to prefer an immediate reward when first put in a positive mood. Extraverts thus appear particularly sensitive to impulsive, incentive-reward-driven behavior by temperament and by situational factors heightening positive affect. (PsycINFO Database Record (c) 2010 APA, all rights reserved).

  13. Discounting risks in the far future

    Lind, Niels

    2007-01-01

    Risks to life and health in the future must be discounted in quantitative risk analysis. Yet, risks in the distant future become trivialized if any reasonable constant interest rate is used. Our responsibility toward future generations rules out such drastic discounting. A solution to this problem is proposed here, resting on the ethical principle that our duty with respect to saving lives is the same to all generations, whether in the near or far future. It is shown that when a choice between prospects involving different risks has a financing horizon T, then ordinary principles of discounting apply up to this time T, while no further discounting is justifiable after T. The principle implies that risk events beyond the financing horizon should be valued as if they occurred at the financing horizon

  14. Time management problems and discounted utility.

    König, Cornelius J; Kleinmann, Martin

    2007-05-01

    The lens of behavioral decision theory offers a new perspective for research on time management. The basic idea of this approach is that people discount future consequences of their time management decisions, meaning that they work on tasks with smaller but sooner outcomes rather than on tasks with larger but later outcomes. The authors performed 2 experimental studies to test whether people are sensitive to differences in the discounted utility of time management decisions. In Experiment 1, they used vignettes of typical time management situations; Experiment 2 was a laboratory simulation (an in-basket task that was part of a training assessment). Participants in both studies were German students. As expected, manipulating the discounted utility of options resulted in different time management decisions. In Experiment 1, reactions to time management situations were judged as less likely if the reactions had lower discounted utilities. In Experiment 2, people spent less time on an interruption.

  15. Do Declining Discount Rates lead to Time Inconsistent Economic Advice?

    Hansen, Anders Chr.

    2006-01-01

    This paper addresses the risk of time inconsistency in economic appraisals related to the use of hyperbolic discounting (declining discount rates) instead of exponential discounting (constant discount rate). Many economists are uneasy about the prospects of potential time inconsistency. The paper...

  16. TD Waterhouse discount brokerage: a competitive strategy

    Dangerfield, Catherine

    2007-01-01

    This paper provides a strategic analysis of TD Waterhouse (TDW), the discount brokerage provider within TD Bank Financial Group (TDBFG). Discount brokerage in Canada is an increasingly lucrative industry and contributes significantly to the bottom lines of every major financial institution in the country. It is also a rapidly changing and intensely price-competitive industry in which an explicit, educated business strategy is of the utmost importance. TDW currently employs a somewhat ambiguou...

  17. Discounting Models for Outcomes over Continuous Time

    Harvey, Charles M.; Østerdal, Lars Peter

    Events that occur over a period of time can be described either as sequences of outcomes at discrete times or as functions of outcomes in an interval of time. This paper presents discounting models for events of the latter type. Conditions on preferences are shown to be satisfied if and only if t...... if the preferences are represented by a function that is an integral of a discounting function times a scale defined on outcomes at instants of time....

  18. ACCOUNTING TREATMENT FOR COMMERCIAL DISCOUNTS ON GOODS PURCHASED FOR RESALE

    HOLT GHEORGHE

    2016-04-01

    Full Text Available In the specialized literature there are two major categories of discounts applied between business partners: trade discounts and financial discounts. In terms of accounting, the method of calculation of interest is commercial and financial cuts, especially the tax treatment of them. Trade discounts are applied prior to financial services, and both types of discounts are calculated on the net earlier. Discounts are calculated after applying discounts and special an issue is to know the level of rebates, which are determined periodically based on the turnover.

  19. The Parent Loan Trap

    Wang, Marian; Supiano, Beckie; Fuller, Andrea

    2012-01-01

    As the cost of college has spiraled ever upward and median family income has fallen, the loan program, called Parent PLUS, has become indispensable for increasing numbers of parents desperate to make their children's college plans work. Last year the government disbursed $10.6-billion in Parent PLUS loans to just under a million families. Even…

  20. Philippines: Population: USAID loan.

    The Philippines and the United States Agency for International Development signed an agreement on Christmas Day for a US $5.7 million loan and a US $6 million grant for the country's population program. The loan, which matures in 40 years, carries a 2% interest per year for the first 10 years, and 3% thereafter. A 10-year grace period is provided. The US $11.7 million loan and grant package is the first part of USAID's pledge of US $26.9 million in loan and US $29.8 million in grants for the population project. The agreement was signed by Finance Minister Cesar Virata and USAID director Anthony Schwarzwalder. The total loan package of US $57.7 million will be given in the next 5 years.

  1. Observed and Normative Discount Functions in Addiction and other Diseases

    Cruz Rambaud, Salvador; Mu?oz Torrecillas, Mar?a J.; Takahashi, Taiki

    2017-01-01

    The aim of this paper is to find a suitable discount function able to describe the progression of a certain addiction or disease under treatment as a discounting process. In effect, a certain indicator related to a disease decays over time in a manner which is mathematically similar to the way in which discounting has been modeled. We analyze the discount functions observed in experiments which study addictive and other problematic behaviors as well as some alternative hyperbola-like discount...

  2. Sleep deprivation alters effort discounting but not delay discounting of monetary rewards.

    Libedinsky, Camilo; Massar, Stijn A A; Ling, Aiqing; Chee, Weiyan; Huettel, Scott A; Chee, Michael W L

    2013-06-01

    To determine whether sleep deprivation would affect the discounting of delayed rewards, of rewards entailing the expense of effort, or both. We measured rates of two types of reward discounting under conditions of rested wakefulness (RW) and sleep deprivation (SD). Delay discounting was defined as the willingness to accept smaller monetary rewards sooner rather than larger monetary rewards later. Effort discounting was defined as the willingness to accept smaller rewards that require less effort to obtain (e.g., typing a small number of letter strings backward) over larger but more effortful rewards (e.g., typing more letter strings to receive the reward). The first two experiments used a crossover design in which one session was conducted after a normal night of sleep (RW), and the other after a night without sleep (SD). The first experiment evaluated only temporal discounting whereas the second evaluated temporal and effort discounting. In the second experiment, the discounting tasks were repeatedly administered prior to the state comparisons to minimize the effects of order and/or repeated testing. In a third experiment, participants were studied only once in a between-subject evaluation of discounting across states. The study took place in a research laboratory. Seventy-seven healthy young adult participants: 20 in Experiment 1, 27 in Experiment 2, and 30 in Experiment 3. N/A. Sleep deprivation elicited increased effort discounting but did not affect delay discounting. The dissociable effects of sleep deprivation on two forms of discounting behavior suggest that they may have differing underlying neural mechanisms.

  3. 76 FR 78827 - Loan Guaranty Revised Loan Modification Procedures

    2011-12-20

    ... DEPARTMENT OF VETERANS AFFAIRS 38 CFR Part 36 RIN 2900-AN78 Loan Guaranty Revised Loan... amends a Department of Veterans Affairs (VA) Loan Guaranty regulation related to modification of guaranteed housing loans in default. Specifically, changes are made to requirements related to maximum...

  4. 75 FR 66699 - Farm Loan Programs Loan Making Activities; Correction

    2010-10-29

    ... Loan Programs Loan Making Activities; Correction AGENCY: Farm Service Agency, USDA. ACTION: Proposed rule; correction. SUMMARY: This document contains a correction to the proposed rule titled ``Farm Loan Programs Loan Making Activities'' that was published September 23, 2010. The Farm Service Agency (FSA) is...

  5. Windows server cookbook for Windows server 2003 and Windows 2000

    Allen, Robbie

    2005-01-01

    This practical reference guide offers hundreds of useful tasks for managing Windows 2000 and Windows Server 2003, Microsoft's latest server. These concise, on-the-job solutions to common problems are certain to save you many hours of time searching through Microsoft documentation. Topics include files, event logs, security, DHCP, DNS, backup/restore, and more

  6. Explicit information reduces discounting behavior in monkeys

    John ePearson

    2010-12-01

    Full Text Available Animals are notoriously impulsive in common laboratory experiments, preferring smaller, sooner rewards to larger, delayed rewards even when this reduces average reward rates. By contrast, the same animals often engage in natural behaviors that require extreme patience, such as food caching, stalking prey, and traveling long distances to high quality food sites. One possible explanation for this discrepancy is that standard laboratory delay discounting tasks artificially inflate impulsivity by subverting animals’ common learning strategies. To test this idea, we examined choices made by rhesus macaques in two variants of a standard delay discounting task. In the conventional variant, post-reward delays were uncued and adjusted to render total trial length constant; in the second, all delays were cued explicitly. We found that measured discounting was significantly reduced in the cued task, with discount rates well below those reported in studies using the standard uncued design. When monkeys had complete information, their decisions were more consistent with a strategy of reward rate maximization. These results indicate that monkeys, and perhaps other animals, are more patient than is normally assumed, and that laboratory measures of delay discounting may overstate impulsivity.

  7. Design Guidance for New Windows | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  8. Selection Process for New Windows | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  9. Selection Process for Replacement Windows | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  10. Design Guidance for Replacement Windows | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  11. Replacement Windows for Existing Homes Homes | Efficient Windows

    Collaborative Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring

  12. Proper Installation of New Windows | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  13. Provide Views | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  14. Reduced Fading | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  15. EWC Members | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  16. Visible Transmittance | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  17. Gas Fills | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  18. EWC Membership | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  19. Reducing Condensation | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  20. Improved Comfort | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  1. Financing & Incentives | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  2. Tools & Resources | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  3. Books & Publications | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  4. Design Considerations | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  5. Loan Defaults in Africa

    Svetlana Andrianova; Badi H Baltagi; Panicos O Demetriades

    2011-01-01

    African financial deepening is beset by a high rate of loan defaults, which encourages banks to hold liquid assets instead of lending. We put forward a novel theoretical model that captures the salient features of African credit markets which shows that equilibrium with high loan defaults and low lending can arise when contract enforcement institutions are weak, investment opportunities are relatively scarce and information imperfections abound. We provide evidence using a panel of 110 banks ...

  6. 10% discount at Novae restaurants for students

    2016-01-01

    A 10% discount will be granted for students dining in restaurants 1 and 2 (on the Meyrin site) during the summer from 15 June 2016 to 15 September 2016.   A special badge will be issued by the respective secretariats if the student fulfils the following criteria:  Is under 25 years old; Is in possession of a student card issued by a University or college; Has a CERN contract > 1 month (Users, Summer Students, Trainees, etc). This badge and the CERN access card will have to be shown at the Novae restaurants in order to benefit from this discount.

  7. Windows and doors

    1988-01-01

    A complete manual is presented on windows and doors for the housing contractor. In order to understand the role of windows and doors in a house's energy performance, an introduction explains the house as a system of components that can have effects on each other. Further chapters explain in detail the parts of a window, window types and RSI values; window servicing and repair; window replacement; parts of a door, door types and RSI values; door service and repair, including weatherstripping; door replacement; and how to ensure quality, service, and customer satisfaction. A glossary of terms is included. 61 figs., 3 tabs.

  8. Windows 10 simplified

    McFedries, Paul

    2015-01-01

    Learn Windows 10 quickly and painlessly with this beginner's guide Windows 10 Simplified is your absolute beginner's guide to the ins and outs of Windows. Fully updated to cover Windows 10, this highly visual guide covers all the new features in addition to the basics, giving you a one-stop resource for complete Windows 10 mastery. Every page features step-by-step screen shots and plain-English instructions that walk you through everything you need to know, no matter how new you are to Windows. You'll master the basics as you learn how to navigate the user interface, work with files, create

  9. Windows 10 for dummies

    Rathbone, Andy

    2015-01-01

    The fast and easy way to get up and running with Windows 10 Windows 10 For Dummies covers the latest version of Windows and gets you up and running with the changes and new features you'll find in this updated operating system. Packed with time-saving tips to help you get the most out of the software, this helpful Windows 10 guide shows you how to manage Windows tasks like navigating the interface with a mouse or touchscreen, connecting to the web, and troubleshooting problems and making quick fixes. Assuming no prior knowledge of the software, Windows 10 For Dummies addresses the updates to

  10. Bad Loans and Loan Write-Offs

    福田, 慎一; 鯉渕, 賢

    2006-01-01

    In this paper, we investigate who bears the burden when writing off bad loans in Japan. Traditionally, Japanese main banks bore large burdens in saving their customers. We still find that some main banks bear a large burden in saving their customers. However, in most cases, main banks became very reluctant to bear large burdens when bailing out their customers. In the transition from the bank-based system to a market-based system, traditional implicit rules are collapsing dramatically. We sug...

  11. The supreme subprime myth: the role of bad loans in the 2007-2009 financial crisis

    Alberto Niccoli

    2012-03-01

    Full Text Available Using simulations, we show that the probability of default and losses given default of subprime mortgage loans are small in comparison to their interest rates. The implication is that these loans are profitable for risk neutral efficient banks. As subprime mortgages remain a good investment even for higher values of probability of default and losses given default, our conclusion is that they did not trigger the 2007-2009 financial crisis. In contrast with other papers, this finding does not derive from analyses relating to the subprime market size, but from the positive ex-ante net present value of their discounted cash flows.

  12. Schematic Window Methodology Project

    National Aeronautics and Space Administration — The aim of this IRAD is to produce a generic launch window analyzer (SWM) that allows for large-scale rapid analysis of a launch window and orbit design trade space....

  13. Discounts at the Carlson Wagonlit travel agency

    2008-01-01

    The Carlson Wagonlit travel agency is offering exceptional discounts of up to 40% for bookings with M-Travel before 29 February 2008 and Helvetic Tours before 30 March 2008. For terms and conditions and further information please contact the CERN Carlson Wagonlit Travel office, Main Building (500), Tel. 72763.

  14. Skiba points for small discount rates

    Wagener, F.O.O.

    2006-01-01

    The present article uses perturbation techniques to approximate the value function of an economic minimization problem for small values of the discount rate. This can be used to obtain the approximate location of the Skiba states in the problem; these are states for which there are two distinct

  15. Climate policy under sustainable discounted utilitarianism

    Dietz, Simon [London School of Economics and Political Science (LSE) (United Kingdom); Asheim, Geir B. [Oslo Univ. (Norway). Dept. of Economics

    2011-08-15

    Empirical evaluation of policies to mitigate climate change has been largely confined to the application of discounted utilitarianism (DU). DU is controversial, both due to the conditions through which it is justified and due to its consequences for climate policies, where the discounting of future utility gains from present abatement efforts makes it harder for such measures to justify their present costs. In this paper, we propose sustainable discounted utilitarianism (SDU) as an alternative principle for evaluation of climate policy. Unlike undiscounted utilitarianism, which always assigns zero relative weight to present utility, SDU is an axiomatically based criterion, which departs from DU by assigning zero weight to present utility if and only if the present is better off than the future. Using the DICE integrated assessment model to run risk analysis, we show that it is possible for the future to be worse off than the present along a 'business as usual' development path. Consequently SDU and DU differ, and willingness to pay for emissions reductions is (sometimes significantly) higher under SDU than under DU. Under SDU, stringent schedules of emissions reductions increase social welfare, even for a relatively high utility discount rate. (orig.)

  16. Discounted Markov games : generalized policy iteration method

    Wal, van der J.

    1978-01-01

    In this paper, we consider two-person zero-sum discounted Markov games with finite state and action spaces. We show that the Newton-Raphson or policy iteration method as presented by Pollats-chek and Avi-Itzhak does not necessarily converge, contradicting a proof of Rao, Chandrasekaran, and Nair.

  17. Uncertain discount rates in climate policy analysis

    Newell, R.G.; Pizer, W.A.

    2004-01-01

    Consequences in the distant future - such as those from climate change--have little value today when discounted using conventional rates. This result contradicts our 'gut feeling' about such problems and often leads to ad hoc application of lower rates for valuations over longer horizons - a step facilitated by confusion and disagreement over the correct rate even over short horizons. We review the theory and intuition behind the choice of discount rates now and, importantly, the impact of likely variation in rates in the future. Correlated changes in future rates imply that the distant future should be discounted at much lower rates than suggested by the current rate, thereby raising the value of future consequences - regardless of opinions concerning the current rate. Using historic data to quantity the likely changes and correlation in changes in future rates, we find that future valuations rise by a factor of many thousands at horizons of 300 years or more, almost doubling the expected present value of climate mitigation benefits relative to constant 4% discounting. Ironically, uncertainty about future rates reduces the ratio of valuations based on alternate choices of the current rate

  18. A Delay Discounting Model of Psychotherapy Termination

    Swift, Joshua K.; Callahan, Jennifer L.

    2009-01-01

    Delay discounting (DD) procedures are emerging as an important new method for psychotherapy researchers. In this paper a framework for conceptualizing existing, seemingly discrepant, research findings on termination is introduced and new directions for research are described. To illustrate the value of a DD framework, the common psychotherapy…

  19. Win-Win Strategies at Discount Stores

    B. Deleersnyder (Barbara); M.G. Dekimpe (Marnik); J-B.E.M. Steenkamp (Jan-Benedict); O. Koll (Oliver)

    2005-01-01

    textabstractAn important development that contributes to store brands’ growing success in the grocery market is the increasing number of discount stores that sell predominantly own, private-label, brands. To fight private labels, manufacturers of national brands feel increasingly compelled to

  20. Book Discounts and Cost-Plus Pricing

    Andresen, David C.

    1974-01-01

    The adoption of cost-plus pricing by a major book jobber may have profound effects on the discounts that libraries receive. The article explains the pricing system and presents a set of graphs for libraries to use to determine its effects. (Author)

  1. Error Discounting in Probabilistic Category Learning

    Craig, Stewart; Lewandowsky, Stephan; Little, Daniel R.

    2011-01-01

    The assumption in some current theories of probabilistic categorization is that people gradually attenuate their learning in response to unavoidable error. However, existing evidence for this error discounting is sparse and open to alternative interpretations. We report 2 probabilistic-categorization experiments in which we investigated error…

  2. Measurement-theoretic foundations of time discounting in economics

    Conrad Heilmann

    2008-01-01

    In economics, the concept of time discounting introduces weights on future goods to make these less valuable. Yet, both the conceptual motivation for time discounting and its specic functional form remain contested. To address these problems, this paper provides a measurement-theoretic framework of representation for time discounting. The representation theorem characterises time discounting factors by representations of time dierences. This general result can be interpreted with existing the...

  3. Do the Powerful Discount the Future Less? The Effects of Power on Temporal Discounting.

    Duan, Jinyun; Wu, Sherry J; Sun, Luying

    2017-01-01

    Individuals have the tendency to discount rewards in the future, known as temporal discounting, and we find that sense of power (the felt capacity to influence the thinking and behavior of others) reduces such tendency. In Studies 1 and 2, we used both an experiment and a survey with organizational employees to demonstrate that power reduced temporal discounting. In Study 3, we replicated study 1 while exploring a unique cultural trait of Danbo , or indifference to fame and wealth, across two ethnic groups (Han and Tibetan groups) in China. While power reduces temporal discounting, the relationship between the two may be leveraged by individual differences of optimism, frustration, and Danbo . The results imply a more nuanced interpretation of how individual and situational factors can affect intertemporal choice.

  4. 7 CFR 1710.50 - Insured loans.

    2010-01-01

    ... GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES Types of Loans and... determined pursuant to 7 CFR part 1714, and the borrower may elect to include in the loan documents a...

  5. 7 CFR 1710.51 - Direct loans.

    2010-01-01

    ... GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES Types of Loans and... borrowers. (b) Loan documents. Successful applicants will be required to execute and deliver to RUS a...

  6. Destination discount : A sensible road for national brands?

    Deleersnyder, B.; Koll, O.

    2012-01-01

    Purpose – This paper aims to study the consequences of listing national brands in discounters. Is the discount channel a promising outlet for manufacturer brands? Is it an effective means to attract new buyers? Which combination of brand and discount destination at which price is best suited for

  7. Discount-Optimal Infinite Runs in Priced Timed Automata

    Fahrenberg, Uli; Larsen, Kim Guldstrand

    2009-01-01

    We introduce a new discounting semantics for priced timed automata. Discounting provides a way to model optimal-cost problems for infinite traces and has applications in optimal scheduling and other areas. In the discounting semantics, prices decrease exponentially, so that the contribution...

  8. 48 CFR 952.251-70 - Contractor employee travel discounts.

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Contractor employee travel... Contractor employee travel discounts. As prescribed in 951.7002, insert the following clause: Contractor Employee Travel Discounts (AUG 2009) (a) The Contractor shall take advantage of travel discounts offered to...

  9. 7 CFR 1786.98 - Discounted present value.

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Discounted present value. 1786.98 Section 1786.98... Discounted present value. (a) The Discounted Present Value shall be calculated by RUS before prepayment is made by summing the present values of all remaining payments on all outstanding notes according to the...

  10. Discounting medical malpractice claim reserves for self-insured hospitals.

    Frese, Richard; Kitchen, Patrick

    2011-01-01

    The hospital CFO often works with the hospital's actuary and external auditor to calculate the reserves recorded in financial statements. Hospital management, usually the CFO, needs to decide the discount rate that is most appropriate. A formal policy addressing the rationale for discounting and the rationale for selecting the discount rate can be helpful to the CFO, actuary, and external auditor.

  11. Window Selection Tool | Efficient Windows Collaborative

    Louisville LA Lake Charles LA New Orleans LA Shreveport MA Boston MD Baltimore ME Portland MI Detroit MI Window Selection Tool will take you through a series of design conditions pertaining to your design and

  12. Windows for Intel Macs

    Ogasawara, Todd

    2008-01-01

    Even the most devoted Mac OS X user may need to use Windows XP, or may just be curious about XP and its applications. This Short Cut is a concise guide for OS X users who need to quickly get comfortable and become productive with Windows XP basics on their Macs. It covers: Security Networking ApplicationsMac users can easily install and use Windows thanks to Boot Camp and Parallels Desktop for Mac. Boot Camp lets an Intel-based Mac install and boot Windows XP on its own hard drive partition. Parallels Desktop for Mac uses virtualization technology to run Windows XP (or other operating systems

  13. Windows® Internals

    Russinovich, Mark E; Ionescu, Alex

    2009-01-01

    See how the core components of the Windows operating system work behind the scenes-guided by a team of internationally renowned internals experts. Fully updated for Windows Server 2008 and Windows Vista, this classic guide delivers key architectural insights on system design, debugging, performance, and support-along with hands-on experiments to experience Windows internal behavior firsthand.Delve inside Windows architecture and internals:Understand how the core system and management mechanisms work-from the object manager to services to the registryExplore internal system data structures usin

  14. 7 CFR 2201.19 - Loan terms.

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Loan terms. 2201.19 Section 2201.19 Agriculture Regulations of the Department of Agriculture (Continued) LOCAL TELEVISION LOAN GUARANTEE BOARD LOCAL TELEVISION LOAN GUARANTEE PROGRAM-PROGRAM REGULATIONS Loan Guarantees § 2201.19 Loan terms. (a) All Loans...

  15. 5 CFR 1655.14 - Loan payments.

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Loan payments. 1655.14 Section 1655.14 Administrative Personnel FEDERAL RETIREMENT THRIFT INVESTMENT BOARD LOAN PROGRAM § 1655.14 Loan payments. (a) Loan payments must be made through payroll deduction in accordance with the loan agreement. Once loan...

  16. 7 CFR 1436.7 - Loan term.

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Loan term. 1436.7 Section 1436.7 Agriculture... AGRICULTURE LOANS, PURCHASES, AND OTHER OPERATIONS FARM STORAGE FACILITY LOAN PROGRAM REGULATIONS § 1436.7 Loan term. (a) For eligible facility loan commodities other than sugar, the term of the loan will be 7...

  17. 13 CFR 400.202 - Loan amount.

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Loan amount. 400.202 Section 400.202 Business Credit and Assistance EMERGENCY STEEL GUARANTEE LOAN BOARD EMERGENCY STEEL GUARANTEE LOAN PROGRAM Steel Guarantee Loans § 400.202 Loan amount. (a) The aggregate amount of loan principal guaranteed...

  18. 7 CFR 764.401 - Loan decision.

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan decision. 764.401 Section 764.401 Agriculture... SPECIAL PROGRAMS DIRECT LOAN MAKING Loan Decision and Closing § 764.401 Loan decision. (a) Loan approval. (1) The Agency will approve a loan only if it determines that: (i) The applicant's farm operating...

  19. 7 CFR 1710.407 - Loan documents.

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan documents. 1710.407 Section 1710.407 Agriculture... GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES Application Requirements and Procedures for Loans § 1710.407 Loan documents. Following approval of a loan, RUS will forward...

  20. 13 CFR 500.204 - Loan terms.

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Loan terms. 500.204 Section 500.204 Business Credit and Assistance EMERGENCY OIL AND GAS GUARANTEED LOAN BOARD EMERGENCY OIL AND GAS GUARANTEED LOAN PROGRAM Oil and Gas Guaranteed Loans § 500.204 Loan terms. (a) All loans guaranteed under the...

  1. 13 CFR 400.204 - Loan terms.

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Loan terms. 400.204 Section 400.204 Business Credit and Assistance EMERGENCY STEEL GUARANTEE LOAN BOARD EMERGENCY STEEL GUARANTEE LOAN PROGRAM Steel Guarantee Loans § 400.204 Loan terms. (a) All loans guaranteed under the Program shall be...

  2. 7 CFR 1710.406 - Loan approval.

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan approval. 1710.406 Section 1710.406 Agriculture... GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES Application Requirements and Procedures for Loans § 1710.406 Loan approval. (a) A loan is approved when the Administrator...

  3. 13 CFR 500.202 - Loan amount.

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Loan amount. 500.202 Section 500.202 Business Credit and Assistance EMERGENCY OIL AND GAS GUARANTEED LOAN BOARD EMERGENCY OIL AND GAS GUARANTEED LOAN PROGRAM Oil and Gas Guaranteed Loans § 500.202 Loan amount. The aggregate amount of loan...

  4. 7 CFR 1710.113 - Loan security.

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan security. 1710.113 Section 1710.113 Agriculture... GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES Loan Purposes and Basic Policies § 1710.113 Loan security. (a) RUS makes loans only if, in the judgment of the...

  5. 7 CFR 1735.22 - Loan security.

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan security. 1735.22 Section 1735.22 Agriculture... GENERAL POLICIES, TYPES OF LOANS, LOAN REQUIREMENTS-TELECOMMUNICATIONS PROGRAM Loan Purposes and Basic Policies § 1735.22 Loan security. (a) RUS makes loans only if, in the judgment of the Administrator, the...

  6. 7 CFR 762.121 - Loan purposes.

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan purposes. 762.121 Section 762.121 Agriculture... SPECIAL PROGRAMS GUARANTEED FARM LOANS § 762.121 Loan purposes. (a) Operating Loan purposes. (1) Loan... the need to refinance; (viii) Payment of loan closing costs; (ix) Payment of costs associated with...

  7. 7 CFR 1738.22 - Loan security.

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan security. 1738.22 Section 1738.22 Agriculture... RURAL BROADBAND ACCESS LOANS AND LOAN GUARANTEES Loan Purposes and Basic Policies § 1738.22 Loan security. (a) RUS makes loans only if, in the judgment of the Administrator, the security therefore is...

  8. 7 CFR 1737.92 - Loan documents.

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan documents. 1737.92 Section 1737.92 Agriculture... PRE-LOAN POLICIES AND PROCEDURES COMMON TO INSURED AND GUARANTEED TELECOMMUNICATIONS LOANS Final Loan Approval Procedures § 1737.92 Loan documents. Following approval of the loan, RUS shall forward the...

  9. Advanced energy efficient windows

    Thomsen, Kirsten Engelund

    2007-01-01

    Windows should be paid special attention as they contribute a significant part of the total heat-loss coefficient of the building. Contrary to other parts of the thermal envelope the windows are not only heat loosers, but may gain heat in the day-time. Therefore there are possibilities for large...... energy savings. In terms of energy, windows occupy a special position compared with other thermal envelope structures due to their many functions: 1) windows let daylight into the building and provide occupants with visual contact with their surroundings 2) windows protect against the outdoor climate 3......) windows transmit solar energy that may contribute to a reduction of energy consumption, but which may also lead to unpleasant overheating. In the following paragraphs the current use of windows is reviewed with an emphasis on energy, while special products like solar protection glazing and security...

  10. Probabilistic Discounting of Hypothetical Monetary Gains: University Students Differ in How They Discount "Won" and "Owed" Money

    Weatherly, Jeffrey N.; Derenne, Adam

    2013-01-01

    The present study tested whether participants would discount "won" money differently than they would "owed" money in a probability-discounting task. Participants discounted $1000 or $100,000 that they had won in a sweepstakes or that was owed to them using the multiple-choice (Experiment 1) or fill-in-the-blank (Experiment 2) method of collecting…

  11. Guide to Direct Consolidation Loans.

    Department of Education, Washington, DC.

    Intended for financial aid counselors, this document provides guidelines to the Federal Direct Consolidation Loan Program for borrowers who are in school, as well as those in repayment, or in default. An introductory section explains the basics of the consolidated loan program, loan categories, and interest rates. Next, standards for borrower…

  12. Private Loans: Facts and Trends

    Institute for College Access & Success, 2014

    2014-01-01

    Private loans are one of the riskiest ways to finance a college education. Like credit cards, they typically have variable interest rates. Both variable and fixed rates are higher for those who can least afford them--as high as 13% in June 2014. Private loans are not eligible for the important deferment, income-based repayment, or loan forgiveness…

  13. Delay Discounting: Pigeon, Rat, Human – Does it Matter?

    Vanderveldt, Ariana; Oliveira, Luís; Green, Leonard

    2016-01-01

    Delay discounting refers to the decrease in subjective value of an outcome as the time to its receipt increases. Across species and situations, animals discount delayed rewards, and their discounting is well-described by a hyperboloid function. The current review begins with a comparison of discounting models and the procedures used to assess delay discounting in nonhuman animals. We next discuss the generality of discounting, reviewing the effects of different variables on the degree of discounting delayed reinforcers by nonhuman animals. Despite the many similarities in discounting observed between human and nonhuman animals, several differences have been proposed (e.g., the magnitude effect; nonhuman animals discount over a matter of seconds whereas humans report willing to wait months, if not years before receiving a reward), raising the possibility of fundamental species differences in intertemporal choice. After evaluating these differences, we discuss delay discounting from an adaptationist perspective. The pervasiveness of discounting across species and situations suggests it is a fundamental process underlying decision making. PMID:26881899

  14. Individual laboratory-measured discount rates predict field behavior.

    Chabris, Christopher F; Laibson, David; Morris, Carrie L; Schuldt, Jonathon P; Taubinsky, Dmitry

    2008-12-01

    We estimate discount rates of 555 subjects using a laboratory task and find that these individual discount rates predict inter-individual variation in field behaviors (e.g., exercise, BMI, smoking). The correlation between the discount rate and each field behavior is small: none exceeds 0.28 and many are near 0. However, the discount rate has at least as much predictive power as any variable in our dataset (e.g., sex, age, education). The correlation between the discount rate and field behavior rises when field behaviors are aggregated: these correlations range from 0.09-0.38. We present a model that explains why specific intertemporal choice behaviors are only weakly correlated with discount rates, even though discount rates robustly predict aggregates of intertemporal decisions.

  15. Is there time discounting for risk premium?

    Shavit, Tal; Rosenboim, Mosi

    2015-03-01

    Individuals with a higher subjective discount rate concentrate more on the present and delay is more significant for them. However, when a risky asset is delayed, not only is the outcome delayed but also the risk. In this paper, we suggest a new, two-stage experimental method with real monetary incentives that allows us to distinguish between the effect of the risk and the effect of the time when pricing a risky asset. We show that when individuals have greater preference for the present, their risk aversion for a risky asset realized in the future decreases. We argue that the effect of the risk for future asset is lower for individuals with higher time preference because they discount not only the outcome but also the risks. © Society for the Experimental Analysis of Behavior.

  16. Discount method for programming language evaluation

    Kurtev, Svetomir; Christensen, Tommy Aagaard; Thomsen, Bent

    2016-01-01

    This paper presents work in progress on developing a Discount Method for Programming Language Evaluation inspired by the Discount Usability Evaluation method (Benyon 2010) and the Instant Data Analysis method (Kjeldskov et al. 2004). The method is intended to bridge the gap between small scale...... internal language design evaluation methods and large scale surveys and quantitative evaluation methods. The method is designed to be applicable even before a compiler or IDE is developed for a new language. To test the method, a usability evaluation experiment was carried out on the Quorum programming...... language (Stefik et al. 2016) using programmers with experience in C and C#. When comparing our results with previous studies of Quorum, most of the data was comparable though not strictly in agreement. However, the discrepancies were mainly related to the programmers pre-existing expectations...

  17. Accounting and Tax Issues Concerning Commercial Discounts

    Sava Raluca

    2015-12-01

    Full Text Available Commercial discounts accounting presents a particular importance because, on the one hand, of their widely spread on a large scale in the commercial activity and on the second hand, due to the influence of the accounting and reporting method over the value added tax. The paper theoretically addresses commercial reductions and also their reflection in the accounting according with the latest regulations in force.

  18. Mortgage lenders and loans

    Aalbers, M.B.; Smith, S.J.

    2012-01-01

    This article presents a short historical overview of the different types of lenders that are active in the origination of residential mortgage loans. First, a distinction is made between depository and nondepository lenders. Second, there are two major types of depository lenders: commercial banks,

  19. Time discounting and protected-area priorities.

    Armsworth, Paul R

    2018-05-08

    Should conservation organizations focus on protecting habitats that are at imminent risk of being converted but are expensive or more remote areas that are less immediately threatened but where a large amount of land can be set aside? Variants of this trade-off commonly arise in spatial planning. We examined this trade-off using models of land use change near a deforestation frontier. The optimal choice of where to protect was determined by how decisions taken today accounted for ecological benefits and economic costs of conservation actions that would occur sometime in the future. We used an ecological and economic discount rate to weight these benefits and costs. A large economic discount rate favored protecting more remote areas, whereas a large, positive ecological discount rate favored protecting habitat near the current deforestation frontier. We also showed how the decision over where to protect was impacted by the influence that economic factors had in determining landowners' decisions, the rate of technological change and ecological heterogeneity of the landscape. How benefits and costs through time are accounted for warrants careful consideration when specifying conservation objectives. It may provide a niche axis along which conservation organizations differentiate themselves when competing for donor funding or other support. This article is protected by copyright. All rights reserved. This article is protected by copyright. All rights reserved.

  20. Positive autobiographical memory retrieval reduces temporal discounting.

    Lempert, Karolina M; Speer, Megan E; Delgado, Mauricio R; Phelps, Elizabeth A

    2017-10-01

    People generally prefer rewards sooner rather than later. This phenomenon, temporal discounting, underlies many societal problems, including addiction and obesity. One way to reduce temporal discounting is to imagine positive future experiences. Since there is overlap in the neural circuitry associated with imagining future experiences and remembering past events, here we investigate whether recalling positive memories can also promote more patient choice. We found that participants were more patient after retrieving positive autobiographical memories, but not when they recalled negative memories. Moreover, individuals were more impulsive after imagining novel positive scenes that were not related to their memories, showing that positive imagery alone does not drive this effect. Activity in the striatum and temporo parietal junction during memory retrieval predicted more patient choice, suggesting that to the extent that memory recall is rewarding and involves perspective-taking, it influences decision-making. Furthermore, representational similarity in the ventromedial prefrontal cortex between memory recall and decision phases correlated with the behavioral effect across participants. Thus, we have identified a novel manipulation for reducing temporal discounting-remembering the positive past-and have begun to characterize the psychological and neural mechanisms behind it. © The Author (2017). Published by Oxford University Press.

  1. Californium loan programme

    1974-01-01

    The offer of the United States to loan Californium-252 sources to the IAEA was made by Dr. Glenn T. Seaborg, then chairman of the USAEC, in his opening statement at the 15th. General Conference of the IAEA held in Vienna in 1971. The purpose of this loan was to make neutron emitting sources available to universities in the Member States for use in educational programmes. The sources, in the form of small needles designed for medical use in radiation therapy, were judged highly suitable for didactic applications due to their small size, limited activity and well documented radiological parameters. Subsequently, in May 1973, the Director General announced the availability of the Californium sources to the Member States. To date, numerous sources have been loaned to universities in Czechoslovakia, Costa Rica, the Federal Republic of Germany, Ghana, India, Iran, Israel, Japan, South Africa, Switzerland, the United Kingdom and Uruguay; additional applications for loans are being processed. It is anticipated that the loan programme will be terminated in 1975 once all the available sources have been distributed. n order to provide guidance for the Member States on the safe exploitation of these sources, a prototype use and storage facility was designed by IAEA staff of the Dosimetry Section of the Division of Life Sciences, and constructed at the IAEA laboratory in Seibersdorf, Austria. Figures 2-5 illustrate some of the details of this container, which is being given to the Ghana Nuclear Centre in support of a training programme for students at the university in Accra. Further advice to users of these sources will be provided by the publication of an instructional syllabus, a laboratory manual for experiments and the safety precautions inherent in the proper handling of neutron emitting radionuclides, authored by Professors Erich J. Hall and Harald H. Rossi of Columbia University. The syllabus and manual will be published as part of the IAEA Technical Series in September

  2. Understanding Loan Aversion in Education

    Angela Boatman

    2017-01-01

    Full Text Available Although prior research has suggested that some students may be averse to taking out loans to finance their college education, there is little empirical evidence showing the extent to which loan aversion exists or how it affects different populations of students. This study provides the first large-scale quantitative evidence of levels of loan aversion in the United States. Using survey data collected on more than 6,000 individuals, we examine the frequency of loan aversion in three distinct populations. Depending on the measure, between 20 and 40% of high school seniors exhibit loan aversion with lower rates among community college students and adults not in college. Women are less likely to express loan-averse attitudes than men, and Hispanic respondents are more likely to be loan averse than White respondents.

  3. Windows 8 secrets

    Thurrott, Paul

    2012-01-01

    Tips, tricks, treats, and secrets revealed on Windows 8 Microsoft is introducing a major new release of its Windows operating system, Windows 8, and what better way to learn all its ins and outs than from two internationally recognized Windows experts and Microsoft insiders, authors Paul Thurrott and Rafael Rivera? They cut through the hype to get at useful information you'll not find anywhere else, including what role this new OS plays in a mobile and tablet world. Regardless of your level of knowledge, you'll discover little-known facts about how things work, what's new and different, and h

  4. Mastering Windows 7 Deployment

    Finn, Aidan; van Surksum, Kenneth

    2011-01-01

    Get professional-level instruction on Windows 7 deployment tools Enterprise-level operating system deployment is challenging and requires knowledge of specific tools. It is expected that Windows 7 will be extensively deployed in businesses worldwide. This comprehensive Sybex guide provides thorough coverage of the Microsoft deployment tools that were specifically created for Windows 7, preparing system administrators, MIS professionals, and corporate programmers to tackle the task effectively.Companies worldwide are expected to deploy Windows 7 as their enterprise operating system; system admi

  5. Programming Windows Azure

    Krishnan, Sriram

    2010-01-01

    Learn the nuts and bolts of cloud computing with Windows Azure, Microsoft's new Internet services platform. Written by a key member of the product development team, this book shows you how to build, deploy, host, and manage applications using Windows Azure's programming model and essential storage services. Chapters in Programming Windows Azure are organized to reflect the platform's buffet of services. The book's first half focuses on how to write and host application code on Windows Azure, while the second half explains all of the options you have for storing and accessing data on the plat

  6. Beginning Windows 8

    Halsey, Mike

    2012-01-01

    Windows 8 has been described by Microsoft as its 'boldest' Windows release ever. Beginning Windows 8 takes you through the new features and helps you get more out of the familiar to reveal the possibilities for this amazing new operating system. You will learn, with non-technical language used throughout, how to get up and running in the new Windows interface, minimize downtime, maximize productivity, and harness the features you never knew existed to take control of your computer and enjoy the peace of mind and excitement that comes with it. From tips and tweaks to easy-to-follow guides and d

  7. Windows 8 tweaks

    Sinchak, Steve

    2013-01-01

    Acres of Windows 8 tweaks from a Microsoft MVP and creator of Tweaks.com! From a Microsoft MVP, who is also the savvy creator of Tweaks.com, comes this ultimate collection of Windows 8 workarounds. Steve Sinchak takes you way beyond default system settings, deep under the hood of Windows 8, down to the hidden gems that let you customize your Windows 8 system like you wouldn't believe. From helping you customize the appearance to setting up home networking, sharing media, and squeezing every ounce of performance out of the OS, this book delivers. Get ready to rock and roll with Wind

  8. Drinking status but not acute alcohol consumption influences delay discounting.

    Adams, Sally; Attwood, Angela S; Munafò, Marcus R

    2017-09-01

    The aim of this study was to investigate the following: (a) the effects of acute alcohol on delay discounting; (b) the effects of drinking status on delayed discounting; and (c) whether these effects differ according to reward type (alcohol vs. money). Heavy and light social alcohol users (n = 96) were randomized to receive either an acute dose of alcohol at 0.4 or 0.6 g/kg or placebo in a between-subjects, double-blind design. Delay discounting of alcohol and monetary rewards was measured using a hyperbolic model, with higher scores indicative of greater delay discounting. ANOVA of discount scores indicated a main effect of reward type, where all participants had higher discount scores for alcohol versus money rewards. A main effect of drinking status was also observed, where heavier drinkers had higher discount scores compared with lighter drinkers. We did not observe a main effect of acute alcohol use on delay discounting or the hypothesized interactions between acute alcohol use and drinking status with reward type. Our data suggest that heavier drinkers discount the value of delayed rewards more steeply than lighter drinkers. Delay discounting may therefore be a promising marker of heavy alcohol consumption in social drinkers. Copyright © 2017 John Wiley & Sons, Ltd.

  9. Observed and Normative Discount Functions in Addiction and other Diseases.

    Cruz Rambaud, Salvador; Muñoz Torrecillas, María J; Takahashi, Taiki

    2017-01-01

    The aim of this paper is to find a suitable discount function able to describe the progression of a certain addiction or disease under treatment as a discounting process. In effect, a certain indicator related to a disease decays over time in a manner which is mathematically similar to the way in which discounting has been modeled. We analyze the discount functions observed in experiments which study addictive and other problematic behaviors as well as some alternative hyperbola-like discount functions in order to fit the patience exhibited by the subject after receiving the treatment. Additionally, it has been experimentally found that people with addiction display high rates of discount (impatience) and preference reversals (dynamic inconsistency). This excessive discounting must be correctly modeled by a suitable discount function, otherwise, it can become a trans-disease process underlying addiction and other disorders. The (generalized) exponentiated hyperbolic discount function is proposed to describe the progression of a disease with respect to the treatment, since it maintains the property of inconsistency by exhibiting a decreasing discount rate after an initial period in which the opposite occurs.

  10. Discounting in the economic evaluation of health care interventions.

    Krahn, M; Gafni, A

    1993-05-01

    Do economic theories that underlie discounting have specific implications for program evaluation in health? In this study, both the contemporary practice and the theoretical foundations of discounting are reviewed. The social discount rate controversy is considered, and the two major concepts (i.e., opportunity cost and time preference) involved in the formulation of a social discount rate are outlined. Also described are the arguments for discounting proposed by thinkers in non-economic disciplines. Finally, the implications of choosing a discount rate for evaluation of individual health care programs are considered. It is argued that the conventional practice of discounting all health care programs at a rate of 5% may not consistently reflect societal or individual preference. Specific recommendations arising from this paper are: 1) given the considerable disagreement at the theoretical level as to the appropriate social discount rate, analysts should be specific about what theoretical approach underlies their choice of rate, especially when the analytic result is sensitive to the discount rate; 2) the discount rate chosen should be appropriate for the perspective of the analysis (social vs. individual vs. institutional, etc.); 3) when appropriate, measures should be taken to avoid double discounting, because some health related outcome measures already incorporate individuals' time preference; and 4) it is suggested that the political process may serve as the appropriate means of reflecting social values in the choice of a discount rate. In addition, the authors argue that a consensus conference approach, with political participation, offers a flexible, pragmatic, and explicit way of synthesizing the empirical, normative, and ethical considerations that underlie choice of a discount rate.

  11. Color Wheel Windows

    Leonard, Stephanie

    2012-01-01

    In this article, the author describes a painting and drawing lesson which was inspired by the beautiful circular windows found in cathedrals and churches (also known as "rose windows"). This two-week lesson would reinforce both the concept of symmetry and students' understanding of the color wheel. (Contains 1 online resource.)

  12. Efficient Windows Collaborative

    Nils Petermann

    2010-02-28

    The project goals covered both the residential and commercial windows markets and involved a range of audiences such as window manufacturers, builders, homeowners, design professionals, utilities, and public agencies. Essential goals included: (1) Creation of 'Master Toolkits' of information that integrate diverse tools, rating systems, and incentive programs, customized for key audiences such as window manufacturers, design professionals, and utility programs. (2) Delivery of education and outreach programs to multiple audiences through conference presentations, publication of articles for builders and other industry professionals, and targeted dissemination of efficient window curricula to professionals and students. (3) Design and implementation of mechanisms to encourage and track sales of more efficient products through the existing Window Products Database as an incentive for manufacturers to improve products and participate in programs such as NFRC and ENERGY STAR. (4) Development of utility incentive programs to promote more efficient residential and commercial windows. Partnership with regional and local entities on the development of programs and customized information to move the market toward the highest performing products. An overarching project goal was to ensure that different audiences adopt and use the developed information, design and promotion tools and thus increase the market penetration of energy efficient fenestration products. In particular, a crucial success criterion was to move gas and electric utilities to increase the promotion of energy efficient windows through demand side management programs as an important step toward increasing the market share of energy efficient windows.

  13. Visual merchandising window display

    Opris (Cas. Stanila M.

    2013-12-01

    Full Text Available Window display plays a major part in the selling strategies; it does not only include the simple display of goods, nowadays it is a form of art, also having the purpose of sustaining the brand image. This article wants to reveal the tools that are essential in creating a fabulous window display. Being a window designer is not an easy job, you have to always think ahead trends, to have a sense of colour, to know how to use light to attract customers in the store after only one glance at the window. The big store window displays are theatre scenes: with expensive backgrounds, special effects and high fashion mannequins. The final role of the displays is to convince customers to enter the store and trigger the purchasing act which is the final goal of the retail activity.

  14. The economics of climate change and the theory of discounting

    Philibert, C.

    1999-01-01

    This paper confronts the theory of discounting with climate change economics. Standard discounting would give long-term damages a very low present value. On the other hand, low discount rates would imply more sacrifices for present generations, although future generations may be richer. And using multiple rates would lead to economic inefficiencies. The paper first shows that arguments favouring a low or zero discount rate in general are weak, even from an ethical point of view. It goes on by considering different arguments in favour of discount rates decreasing over time, and by recalling the argument that non-reproducible environmental assets should be given a value growing over time. Through the example of climate change, it finally shows that the latter argument not only implies that the costs of damages associated to climate change should not be underestimated, but also reinforce the legitimacy of using decreasing discount rates. (author)

  15. 7 CFR 1610.4 - Loan applications.

    2010-01-01

    ... Regulations of the Department of Agriculture (Continued) RURAL TELEPHONE BANK, DEPARTMENT OF AGRICULTURE LOAN POLICIES § 1610.4 Loan applications. No application for a loan will be considered for approval by the Bank... of the applicant for a Bank loan and the amount thereof. Loan application forms are available from...

  16. 24 CFR 201.41 - Loan servicing.

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Loan servicing. 201.41 Section 201... DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES TITLE I PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS Loan Administration § 201.41 Loan servicing. (a) Generally...

  17. 49 CFR 260.9 - Loan terms.

    2010-10-01

    ... 49 Transportation 4 2010-10-01 2010-10-01 false Loan terms. 260.9 Section 260.9 Transportation... TRANSPORTATION REGULATIONS GOVERNING LOANS AND LOAN GUARANTEES UNDER THE RAILROAD REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.9 Loan terms. The maximum repayment period for direct loans and guaranteed...

  18. 7 CFR 770.5 - Loan limitations.

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan limitations. 770.5 Section 770.5 Agriculture... SPECIAL PROGRAMS INDIAN TRIBAL LAND ACQUISITION LOANS § 770.5 Loan limitations. (a) Loan funds may not be... title. (b) The amount of loan funds used to acquire land may not exceed the market value of the land...

  19. 7 CFR 1980.370 - Loan servicing.

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Loan servicing. 1980.370 Section 1980.370 Agriculture... REGULATIONS (CONTINUED) GENERAL Rural Housing Loans § 1980.370 Loan servicing. RHS encourages Lenders to... sufficient servicing and counseling to meet the objectives of the loan. Loan servicing should be approached...

  20. 7 CFR 1435.101 - Loan rates.

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Loan rates. 1435.101 Section 1435.101 Agriculture... AGRICULTURE LOANS, PURCHASES, AND OTHER OPERATIONS SUGAR PROGRAM Sugar Loan Program § 1435.101 Loan rates. (a) The national average loan rate for raw cane sugar produced from domestically grown sugarcane is: 18...

  1. 7 CFR 771.5 - Loan purposes.

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan purposes. 771.5 Section 771.5 Agriculture... SPECIAL PROGRAMS BOLL WEEVIL ERADICATION LOAN PROGRAM § 771.5 Loan purposes. (a) Loan funds may be used..., travel and office operations; (3) Salaries and benefits. (b) Loan funds may not be used to pay expenses...

  2. 7 CFR 774.22 - Loan closing.

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan closing. 774.22 Section 774.22 Agriculture... SPECIAL PROGRAMS EMERGENCY LOAN FOR SEED PRODUCERS PROGRAM § 774.22 Loan closing. (a) Conditions. The applicant must meet all conditions specified by the loan approval official in the notification of loan...

  3. 7 CFR 1980.310 - Loan purposes.

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Loan purposes. 1980.310 Section 1980.310 Agriculture... REGULATIONS (CONTINUED) GENERAL Rural Housing Loans § 1980.310 Loan purposes. The purpose of a loan guaranteed... applicant as a primary residence. The loan may be to purchase a new dwelling or an existing dwelling. The...

  4. 7 CFR 1779.69 - Loan servicing.

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Loan servicing. 1779.69 Section 1779.69 Agriculture... (CONTINUED) WATER AND WASTE DISPOSAL PROGRAMS GUARANTEED LOANS § 1779.69 Loan servicing. (a) Lender responsibilities. The lender is responsible for servicing the entire loan in accordance with the lender's loan...

  5. 24 CFR 201.10 - Loan amounts.

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Loan amounts. 201.10 Section 201.10... MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES TITLE I PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS Loan and Note Provisions § 201.10 Loan amounts. (a) Property...

  6. 7 CFR 771.13 - Loan closing.

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan closing. 771.13 Section 771.13 Agriculture... SPECIAL PROGRAMS BOLL WEEVIL ERADICATION LOAN PROGRAM § 771.13 Loan closing. (a) Conditions. The applicant must meet all conditions specified by the loan approval official in the notification of loan approval...

  7. 5 CFR 1655.21 - Loan fee.

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Loan fee. 1655.21 Section 1655.21 Administrative Personnel FEDERAL RETIREMENT THRIFT INVESTMENT BOARD LOAN PROGRAM § 1655.21 Loan fee. The TSP will charge a participant a $50.00 loan fee when it disburses the loan and will deduct the fee from the...

  8. 7 CFR 3560.61 - Loan security.

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Loan security. 3560.61 Section 3560.61 Agriculture... DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS Direct Loan and Grant Origination § 3560.61 Loan security... collateral. (2) The amount of the loan against the collateral does not exceed its estimated security value...

  9. On the Dividend Strategies with Non-Exponential Discounting

    Zhao, Qian; Wei, Jiaqin; Wang, Rongming

    2013-01-01

    In this paper, we study the dividend strategies for a shareholder with non-constant discount rate in a diffusion risk model. We assume that the dividends can only be paid at a bounded rate and restrict ourselves to the Markov strategies. This is a time inconsistent control problem. The extended HJB equation is given and the verification theorem is proved for a general discount function. Considering the pseudo-exponential discount functions (Type I and Type II), we get the equilibrium dividend...

  10. The Individual Health Discount Rate in Patients with Ulcerative Colitis

    Waljee, Akbar K.; Morris, Arden M.; Waljee, Jennifer F.; Higgins, Peter D.R.

    2015-01-01

    Background In cost-effectiveness analysis, discount rates are used in calculating the value of future costs and benefits. However, standard discount rates may not accurately describe the decision-making of patients with Ulcerative Colitis (UC). These patients often choose the long-term risks of immunosuppressive therapy over the short-term risks of colectomy, demonstrating very high discount rates for future health. In this study, we aimed to measure the discount rate in UC patients and identify variables associated with the discount rate. Methods We surveyed patients with UC and patients who were post-colectomy for UC to measure their valuations of UC and colectomy health states. We used Standard Gamble(SG) and Time-Trade-Off(TTO) methods to assess current and future health state valuations, and calculated the discount rate. Results Participants included 150 subjects with UC and 150 subjects who were post-colectomy for UC. Discount rates varied widely (20.6%–100%) with an overall median rate of 55.0%, which was significantly higher than the standard rate of 5%. Older age and male gender and predicted high discount rates (aversion to immediate risk in favor of distant future risk). For each additional decade of age, patients’ expected discount rate increased by 0.77%. Female gender was the only predictor of very low discount rates. Female patients’ discount rates averaged 8.1% less than age-matched males. Conclusions The accepted discount rate of 5% grossly underestimates UC patients’ preference for long-term over short-term risk. This might explain UC patients’ frequent choice of the long-term risks of immunosuppressive medical therapy over the short-term risks of colectomy. PMID:21560195

  11. Can we use human judgments to determine the discount rate?

    Baron, J

    2000-12-01

    It has been suggested that the long-term discount rate for environmental goods should decrease at longer delays. One justification for this suggestion is that human judgments support it. This article presents an experiment showing that judgments concerning discount rates are internally inconsistent. These results point to potential problems with the use of judgments referenda for determining discount rates in cost-benefit analyses.

  12. Testable Implications of Quasi-Hyperbolic and Exponential Time Discounting

    Echenique, Federico; Imai, Taisuke; Saito, Kota

    2014-01-01

    We present the first revealed-preference characterizations of the models of exponential time discounting, quasi-hyperbolic time discounting, and other time-separable models of consumers’ intertemporal decisions. The characterizations provide non-parametric revealed-preference tests, which we take to data using the results of a recent experiment conducted by Andreoni and Sprenger (2012). For such data, we find that less than half the subjects are consistent with exponential discounting, and on...

  13. The effects of the framing of time on delay discounting.

    DeHart, William Brady; Odum, Amy L

    2015-01-01

    We examined the effects of the framing of time on delay discounting. Delay discounting is the process by which delayed outcomes are devalued as a function of time. Time in a titrating delay discounting task is often framed in calendar units (e.g., as 1 week, 1 month, etc.). When time is framed as a specific date, delayed outcomes are discounted less compared to the calendar format. Other forms of framing time; however, have not been explored. All participants completed a titrating calendar unit delay-discounting task for money. Participants were also assigned to one of two delay discounting tasks: time as dates (e.g., June 1st, 2015) or time in units of days (e.g., 5000 days), using the same delay distribution as the calendar delay-discounting task. Time framed as dates resulted in less discounting compared to the calendar method, whereas time framed as days resulted in greater discounting compared to the calendar method. The hyperboloid model fit best compared to the hyperbola and exponential models. How time is framed may alter how participants attend to the delays as well as how the delayed outcome is valued. Altering how time is framed may serve to improve adherence to goals with delayed outcomes. © Society for the Experimental Analysis of Behavior.

  14. Discounting the future: influence of the economic model.

    West, R R

    1996-06-01

    To consider the effect of the economic discount rate on health care policy and the rationale for discounting the collective future of society generally. A review of the concept of discounting the future vis à vis the present from the points of view of individuals (who pass on) and of societies (that continue) and reconsideration of the application of discounting to typical public health scenarios. A public health service, within a basically stable society, which can reasonably anticipate a nearly certain future. Discounting necessarily overvalues the "here and now" compared with the future. While applications of discount rates, typical of those employed in health economic studies in recent years, may seem rational in health care programmes directed at middle aged employed people, they do not for the young and the elderly, important recipients of health care. The consequences of discounting do not accord with the aims and objectives of public health. The "time preferences" of transient individuals within a stable society do not provide a rational basis for time preference of a stable society collectively. Discounting inevitably encourages "short termism" and hence biases public policy decision making. The neoclassical theory that gave rise to the concept of discounting requires revision.

  15. GA microwave window development

    Moeller, C.P.; Kasugai, A.; Sakamoto, K.; Takahashi, K.

    1994-10-01

    The GA prototype distributed window was tested in a 32 mm diam. waveguide system at a power density suitable for a MW gyrotron, using the JAERI/Toshiba 110 GHz long pulse internal converter gyrotron in the JAERI test stand. The presence of the untilted distributed window had no adverse effect on the gyrotron operation. A pulse length of 10 times the calculated thermal equilibrium time (1/e time) of 30 msec was reached, and the window passed at least 750 pulses greater than 30 msec and 343 pulses greater than 60 msec. Beyond 100 msec, the window calorimetry reached steady state, allowing the window dissipation to be measured in a single pulse. The measured loss of 4.0% agrees both with the estimated loss, on which the stress calculations are based, and with the attenuation measured at low power in the HE 11 mode. After the end of the tests, the window was examined; no evidence of arcing air coating was found in the part of the window directly illuminated by the microwaves, although there was discoloration in a recess containing an optical diagnostic which outgassed, causing a local discharge to occur in that recess. Finally, there was no failure of the metal-sapphire joints during a total operating time of 50 seconds consisting of pulses longer than 30 msec

  16. Race and Subprime Loan Pricing

    Hernandez, Ruben; Owyang, Michael; Ghent, Andra

    2011-01-01

    In this paper we investigate whether race and ethnicity influenced subprime loan pricing during 2005, the peak of the subprime mortgage expansion. We combine loan-level data on the performance of non-prime securitized mortgages with individual- and neighborhood-level data on racial and ethnic characteristics for metropolitan areas in California and Florida. Using a model of rate determination that accounts for predicted loan performance, we evaluate the presence of disparate impact and dispar...

  17. Windows 8 simplified

    McFedries, Paul

    2012-01-01

    The easiest way for visual learners to get started with Windows 8 The popular Simplified series makes visual learning easier than ever, and with more than 360,000 copies sold, previous Windows editions are among the bestselling Visual books. This guide goes straight to the point with easy-to-follow, two-page tutorials for each task. With full-color screen shots and step-by-step directions, it gets beginners up and running on the newest version of Windows right away. Learn to work with the new interface and improved Internet Explorer, manage files, share your computer, and much more. Perfect fo

  18. Windows 95 Beslutningsguide

    Sørensen, Jens Otto

    1996-01-01

    Mange virksomheder der bruger pc'er står netop nu over for valget: Skal vi fortsætte med DOS/Windows 3.x som operativsystem, eller skal vi skifte til efterfølgeren Windows 95? Skal vi/kan vi skifte successivt, eller skal det være en "alt eller intet beslutning". Hvornår er det rigtige tidspunkt...... at skifte? Denne artikel vil forsøge at give en baggrundsviden om Windows 95, der kan hjælpe virksomhederne igennem denne beslutningsfase....

  19. Rails on Windows

    Hibbs, Curt

    2007-01-01

    It's no secret that the entire Ruby onRails core team uses OS X as their preferreddevelopment environment. Becauseof this, it is very easy to findauthoritative information on the webabout using Rails on OS X. But the truthis that Windows developers using Railsprobably outnumber those using otherplatforms. A Windows development environmentcan be just as productive asany other platform. This is a guide to developing with Rubyon Rails under Windows. It won't teachyou how to write Ruby on Rails web applications,but it will show you what toolsto use and how to set them up to createa complete Rail

  20. The Efficient Windows Collaborative

    Petermann, Nils

    2006-03-31

    The Efficient Windows Collaborative (EWC) is a coalition of manufacturers, component suppliers, government agencies, research institutions, and others who partner to expand the market for energy efficient window products. Funded through a cooperative agreement with the U.S. Department of Energy, the EWC provides education, communication and outreach in order to transform the residential window market to 70% energy efficient products by 2005. Implementation of the EWC is managed by the Alliance to Save Energy, with support from the University of Minnesota and Lawrence Berkeley National Laboratory.

  1. Windows 7 resource kit

    Northrup, Tony; Honeycutt, Jerry; Wilson, Ed

    2009-01-01

    In-depth and comprehensive, this RESOURCE KIT delivers the information you need to administer your Windows 7 system. You get authoritative technical guidance from those who know the technology best-Microsoft Most Valuable Professionals (MVPs) and the Windows 7 product team-along with essential scripts and resources. In addition, "Direct from the Source" sidebars offer deep insights and troubleshooting tips from the Windows 7 team. Get expert guidance on how to: Use Microsoft Deployment Toolkit best practices and tools. Plan user-state migration and test application compatibility.

  2. Positive autobiographical memory retrieval reduces temporal discounting

    Lempert, Karolina M; Speer, Megan E; Delgado, Mauricio R

    2017-01-01

    Abstract People generally prefer rewards sooner rather than later. This phenomenon, temporal discounting, underlies many societal problems, including addiction and obesity. One way to reduce temporal discounting is to imagine positive future experiences. Since there is overlap in the neural circuitry associated with imagining future experiences and remembering past events, here we investigate whether recalling positive memories can also promote more patient choice. We found that participants were more patient after retrieving positive autobiographical memories, but not when they recalled negative memories. Moreover, individuals were more impulsive after imagining novel positive scenes that were not related to their memories, showing that positive imagery alone does not drive this effect. Activity in the striatum and temporo parietal junction during memory retrieval predicted more patient choice, suggesting that to the extent that memory recall is rewarding and involves perspective-taking, it influences decision-making. Furthermore, representational similarity in the ventromedial prefrontal cortex between memory recall and decision phases correlated with the behavioral effect across participants. Thus, we have identified a novel manipulation for reducing temporal discounting—remembering the positive past—and have begun to characterize the psychological and neural mechanisms behind it. PMID:28655195

  3. Intergenerational transfers and the social discount rate

    Howarth, R.B.; Norgaard, R.B.

    1992-08-01

    This paper investigates the relationship between intergenerational asset transfers and the choice of the discount rate for use in cost-benefit analysis in a model of a competitive overlapping generations economy constrained by a socially managed exhaustible resource. Provided that there are no distortions in capital markets and that all agents hold perfect foresight, cost-benefit techniques will result in a Pareto efficient resource allocation if the discount rate is set equal to the market rate of interest. But since the path of the interest rate depends on the level of intergenerational transfers, cost-benefit techniques do not ensure a socially desirable distribution of welfare between generations; a social optimum will result only if intergenerational transfers are properly chosen and enforced. Decentralized private altruism may result in intergenerational transfers that both present and future individuals would agree are too small if members of the present generation attach positive weight to the general welfare of future generations, not simply their personal descendants. In a world where intergenerational transfers are non-optimal, second-best policy-making may imply a constrained optimum that is inefficient. Together, these findings suggest that cost-benefit analysis is at best a partial criterion to policy formulation that should be used only in conjunction with ethical principles that define the proper distribution of welfare between present and future generations

  4. 27 CFR 6.61 - Guaranteeing loans.

    2010-04-01

    ... OF THE TREASURY LIQUORS âTIED-HOUSEâ Unlawful Inducements Guaranteeing Loans § 6.61 Guaranteeing loans. The act by an industry member of guaranteeing any loan or the repayment of any financial...

  5. 24 CFR 200.25 - Supplemental loans.

    2010-04-01

    ... DEVELOPMENT GENERAL INTRODUCTION TO FHA PROGRAMS Requirements for Application, Commitment, and Endorsement... loans. A loan, advance of credit or purchase of an obligation representing a loan or advance of credit...

  6. 7 CFR 3560.612 - Loan limits.

    2010-01-01

    ... DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS On-Farm Labor Housing § 3560.612 Loan limits. The maximum loan amount will be 100 percent of the allowable total development costs of on-farm labor housing and...

  7. Individual health discount rate in patients with ulcerative colitis.

    Waljee, Akbar K; Morris, Arden M; Waljee, Jennifer F; Higgins, Peter D R

    2011-06-01

    In cost-effectiveness analysis, discount rates are used in calculating the value of future costs and benefits. However, standard discount rates may not accurately describe the decision-making of patients with ulcerative colitis (UC). These patients often choose the long-term risks of immunosuppressive therapy over the short-term risks of colectomy, demonstrating very high discount rates for future health. In this study we aimed to measure the discount rate in UC patients and identify variables associated with the discount rate. We surveyed patients with UC and patients who were postcolectomy for UC to measure their valuations of UC and colectomy health states. We used Standard Gamble (SG) and Time-Trade-Off (TTO) methods to assess current and future health state valuations and calculated the discount rate. Participants included 150 subjects with UC and 150 subjects who were postcolectomy for UC. Adjusted discount rates varied widely (0%-100%), with an overall median rate of 55.0% (interquartile range [IQR] 20.6-100), which was significantly higher than the standard rate of 5%. Within the normal range of discount rates, patients' expected discount rate increased by 0.80% for each additional year of age, and female patients had discount rates that averaged ≈ 8% less than their age-matched counterparts and approached statistical significance. The accepted discount rate of 5% grossly underestimates UC patients' preference for long-term over short-term risk. This might explain UC patients' frequent choice of the long-term risks of immunosuppressive medical therapy over the short-term risks of colectomy. Copyright © 2010 Crohn's & Colitis Foundation of America, Inc.

  8. SAF for Windows

    Hansen, Timme

    2001-01-01

    SAF for Windows er et computerprogram til parametrisk konstruktion af translationsskaller. Skaloverfladernes tredimensionelle, facetterede form fremkommer ved en kombination af to todimensionelle formbestemmende kurver, som kan vælges og redigeres af brugeren. Programmet kan udfolde de genererede...

  9. 76 FR 6555 - Loan Guaranty Revised Loan Modification Procedures

    2011-02-07

    ... loan; and advances required to preserve the lien position, such as homeowner association fees, special... delinquent interest, advances, or other amounts due; extending the repayment terms; changing the interest... encountered two sets of circumstances that have caused difficulty in easily modifying loans to assist veterans...

  10. Windows Security patch required

    3004-01-01

    This concerns Windows PCs (XP, 2000, NT) which are NOT centrally managed at CERN for security patches, e.g. home PCs, experiment PCs, portables,... A security hole which can give full privileges on Windows systems needs to be URGENTLY patched. Details of the security hole and hotfix are at: http://cern.ch/it-div/news/hotfix-MS03-026.asp http://www.microsoft.com/technet/security/bulletin/MS03-026.asp

  11. Delineating the conformal window

    Frandsen, Mads Toudal; Pickup, Thomas; Teper, Michael

    2011-01-01

    We identify and characterise the conformal window in gauge theories relevant for beyond the standard model building, e.g. Technicolour, using the criteria of metric confinement and causal analytic couplings, which are known to be consistent with the phase diagram of supersymmetric QCD from Seiberg...... duality. Using these criteria we find perturbation theory to be consistent throughout the predicted conformal window for several of these gauge theories and we discuss recent lattice results in the light of our findings....

  12. SAIL: automating interlibrary loan.

    Lacroix, E M

    1994-01-01

    The National Library of Medicine (NLM) initiated the System for Automated Interlibrary Loan (SAIL) pilot project to study the feasibility of using imaging technology linked to the DOCLINE system to deliver copies of journal articles. During the project, NLM converted a small number of print journal issues to electronic form, linking the captured articles to the MEDLINE citation unique identifier. DOCLINE requests for these journals that could not be filled by network libraries were routed to SAIL. Nearly 23,000 articles from sixty-four journals recently selected for indexing in Index Medicus were scanned to convert them to electronic images. During fiscal year 1992, 4,586 scanned articles were used to fill 10,444 interlibrary loan (ILL) requests, and more than half of these were used only once. Eighty percent of all the articles were not requested at all. The total cost per article delivered was $10.76, substantially more than it costs to process a photocopy request. Because conversion costs were the major component of the total SAIL cost, and most of the articles captured for the project were not requested, this model was not cost-effective. Data on SAIL journal article use was compared with all ILL requests filled by NLM for the same period. Eighty-eight percent of all articles requested from NLM were requested only once. The results of the SAIL project demonstrated that converting journal articles to electronic images and storing them in anticipation of repeated requests would not meet NLM's objective to improve interlibrary loan. PMID:8004020

  13. Thin Film & Deposition Systems (Windows)

    Federal Laboratory Consortium — Coating Lab: Contains chambers for growing thin film window coatings. Plasma Applications Coating Lab: Contains chambers for growing thin film window coatings. Solar...

  14. Parabolic discounting of monetary rewards by physical effort

    Hartmann, M.N.; Hager, O.M.; Tobler, P.N.; Kaiser, S.

    2013-01-01

    When humans and other animals make decisions in their natural environments prospective rewards have to be weighed against costs. It is well established that increasing costs lead to devaluation or discounting of reward. While our knowledge about discount functions for time and probability costs is

  15. Zero discounting can compensate future generations for climate damage

    Davidson, M.D.

    2014-01-01

    In cost-benefit analysis of climate policy there are two main approaches to discounting, each with implications conflicting with our moral intuitions. Thus, discounted utilitarianism implies that we hardly need to protect future generations against climate change, while classical utilitarianism

  16. Internet Addiction and Delay Discounting in College Students

    Saville, Bryan K.; Gisbert, Amanda; Kopp, Jason; Telesco, Carolyn

    2010-01-01

    To examine the relation between Internet addiction and delay discounting, we gave 276 college students a survey designed to measure Internet addiction and a paper-based delay-discounting task. In our larger sample, we identified 14 students who met the criteria for Internet addiction; we also identified 14 matched controls who were similar to the…

  17. Brain Structure Linking Delay Discounting and Academic Performance.

    Wang, Song; Kong, Feng; Zhou, Ming; Chen, Taolin; Yang, Xun; Chen, Guangxiang; Gong, Qiyong

    2017-08-01

    As a component of self-discipline, delay discounting refers to the ability to wait longer for preferred rewards and plays a pivotal role in shaping students' academic performance. However, the neural basis of the association between delay discounting and academic performance remains largely unknown. Here, we examined the neuroanatomical substrates underlying delay discounting and academic performance in 214 adolescents via voxel-based morphometry (VBM) by performing structural magnetic resonance imaging (S-MRI). Behaviorally, we confirmed the significant correlation between delay discounting and academic performance. Neurally, whole-brain regression analyses indicated that regional gray matter volume (rGMV) of the left dorsolateral prefrontal cortex (DLPFC) was associated with both delay discounting and academic performance. Furthermore, delay discounting partly accounted for the association between academic performance and brain structure. Differences in the rGMV of the left DLPFC related to academic performance explained over one-third of the impact of delay discounting on academic performance. Overall, these results provide the first evidence for the common neural basis linking delay discounting and academic performance. Hum Brain Mapp 38:3917-3926, 2017. © 2017 Wiley Periodicals, Inc. © 2017 Wiley Periodicals, Inc.

  18. Accounting conventions for discounting in the optimisation of protection

    Fleishman, A.B.

    1983-01-01

    Some of the implications which arise from the use of accounting conventions in the cost benefit framework for optimization of radiation protection are briefly examined. Some accounting techniques which appear not to discount future detriment costs do so, in fact, at a hidden fixed rate; others give a free choice over whether to discount and at what rate. (U.K.)

  19. The Students Decision Making in Solving Discount Problem

    Abdillah; Nusantara, Toto; Subanji; Susanto, Hery; Abadyo

    2016-01-01

    This research is reviewing students' process of decision making intuitively, analytically, and interactively. The research done by using discount problem which specially created to explore student's intuition, analytically, and interactively. In solving discount problems, researcher exploring student's decision in determining their attitude which…

  20. Using collateral to secure loans

    Yaron Leitner

    2006-01-01

    In “Using Collateral to Secure Loans,” Yaron Leitner asks: Why is collateral used to secure some loans, but not others? And why does collateral potentially involve more risk? He considers these questions, looking at some of the explanations for using collateral, focusing on its benefits and drawbacks.

  1. Credit Derivatives and Loan Pricing

    Norden, L.; Wagner, W.B.

    2007-01-01

    This paper examines the relationship between the new markets for credit default swaps (CDS) and the pricing of syndicated loans to U.S. corporates. We find that changes in CDS spreads have a significantly positive coefficient and explain about 25% of subsequent monthly changes in aggregate loan

  2. Associations between Antisocial Personality Disorder and Sex on Discounting Rates.

    Andrade, Leonardo F; Riven, Levi; Petry, Nancy M

    2014-12-01

    Numerous studies show that individuals with substance use and gambling problems discount delayed and probabilistic outcomes at different rates than controls. Few studies, however, investigated the association of discounting with antisocial personality disorders (ASPD), and none evaluated whether sex impacts these relationships. Because females with ASPD exhibit different patterns of antisocial behavior than their male counterparts, they may also differ in their decision-making tendencies. This study examined the effects of ASPD and sex on discounting in pathological gamblers. Results revealed effects of ASPD, and an interaction between ASPD and sex, on probability discounting rates. None of these variables, however, were related to delay discounting. Females with ASPD highly preferred probabilistic outcomes, suggesting that female gamblers with ASPD are particularly impulsive when it comes to probabilistic rewards. Greater understanding of sex differences in ASPD might help guide the selection of more effective sex-specific prevention and treatment programs.

  3. The Contrast Effect in Temporal and Probabilistic Discounting

    Chen, Cheng; He, Guibing

    2016-01-01

    In this information age, messages related to time, and uncertainty surround us. At the same time, our daily lives are filled with decisions accompanied by temporal delay or uncertainty. Will such information influence our temporal and probabilistic discounting? The authors address this question from the perspectives of decision by sampling (DbS) theory and psychological distance theory. Studies 1 and 2 investigated the effect of contextual messages on temporal discounting and probabilistic discounting, respectively. The results indicated that participants who memorized messages about long-term and low-probability events rated delay or uncertainty as mentally closer and exhibited a less degree of value discounting than those who memorized messages regarding short-term and high-probability events. In addition, a sense of distance from present or reality mediated the effect of contextual messages on value discounting. The implications of the current findings for theory and applications are discussed. PMID:27014122

  4. Value of the future: Discounting in random environments

    Farmer, J. Doyne; Geanakoplos, John; Masoliver, Jaume; Montero, Miquel; Perelló, Josep

    2015-05-01

    We analyze how to value future costs and benefits when they must be discounted relative to the present. We introduce the subject for the nonspecialist and take into account the randomness of the economic evolution by studying the discount function of three widely used processes for the dynamics of interest rates: Ornstein-Uhlenbeck, Feller, and log-normal. Besides obtaining exact expressions for the discount function and simple asymptotic approximations, we show that historical average interest rates overestimate long-run discount rates and that this effect can be large. In other words, long-run discount rates should be substantially less than the average rate observed in the past, otherwise any cost-benefit calculation would be biased in favor of the present and against interventions that may protect the future.

  5. WORK COMPETENCES AT WESTERN BANK DISCOUNT

    Haidee Coste

    2017-03-01

    Full Text Available The research aimed to identify the generic work competences in the staff of the Vice Presidency of Compensation and Development of the Western Bank Discount. Authors were consulted such as Alles (2008, Tobon (2006 and Hay Group (2004, among others. The research is descriptive, non-experimental, transactional and field design. The population consisted of twelve (12 subjects belonging to the vice presidency. It was applied a questionnaire of thirty (30 items, validated by the trial of three (3 experts, with 0.92 reliability by Cronbach alpha coefficient.  It is concluded the employees of the vice presidency have a high level of the generic work competences customer focus, teamwork, effective communication, innovation, emotional intelligence and making decisions. It is strength for the institution, because staff with those competences contributes doing the best for the development of the institution.

  6. Valuing companies by cash flow discounting: Ten methods and nine theories

    Fernández , Pablo

    2002-01-01

    This paper is a summarized compendium of all the methods and theories on company valuation using cash flow discounting. The paper shows the ten most commonly used methods for valuing companies by cash flow discounting: 1) free cash flow discounted at the WACC; 2) equity cash flows discounted at the required return to equity; 3) capital cash flows discounted at the WACC before tax; 4) APV (Adjusted Present Value); 5) the business's risk-adjusted free cash flows discounted at the required retur...

  7. Equivalence of the different discounted cash flow valuation methods. Different alternatives for determining the discounted value of tax shields and their implications for the valuation

    Fernández, Pablo

    1999-01-01

    This paper addresses the valuation of firms by cash flow discounting. The first part shows that the four most commonly used discounted cash flow valuation methods (free cash flow discounted at the WACC; cash flow available for equity holders discounted at the required return on the equity flows; capital cash flow discounted at the WACC before taxes; and Adjusted Present Value) always give the same value. This result is logical because all the methods analyse the same reality under the same hy...

  8. Discounting human lives: Uranium and global equity

    Goldman, B.A.

    1993-01-01

    Long-term, global environmental health risks complicate efforts to evaluate the efficiency and equity of economic activities from a public welfare perspective. This study sets out a practical framework based on the theory of neoclassical welfare economics for evaluating whether an economic activity yields such inefficient or inequitable net effects to justify government intervention from a variety of decision-making perspectives. It applies this empirical approach to the case of public policies that encouraged uranium production (the mining, milling, and refining of uranium ore) near Elliot Lake and Blind River in Northern Ontario. The analysis tests the two-fold hypothesis that if future negative externalities of production are considered along with past net effects, the these policies result in (1) an inefficient allocation of economic resources according to the potential Pareto criterion, and (2) an inequitable distribution of impacts according to Rawls' maximin criterion. The analytical framework to test these hypotheses has three parts: Risk-cost-benefit analysis, distributions analysis, and efficiency and equity analysis. Quantitative impacts are derived from empirical estimates of cost and benefit streams during 1956 to 1990, and modelled future cancer death costs. Net effects are aggregated to nine observations across three dimensions: Geographic, intergenerational, and social. Qualitative observations are provided about the boom-and-bust uranium economy, environmental burdens, and other unquantifiable impacts. The results illustrate how underlying normative assumptions overwhelm other aspects of efficiency and equity analyses of long-term, global environmental changes. These assumptions appear in discounting equations that ultimately derive from a priori allocations of rights to natural assets and corollary duties to protect such rights. More than two-thirds of the discounting scenarios yield inefficient outcomes and over ninety percent are inequitable

  9. High performance sapphire windows

    Bates, Stephen C.; Liou, Larry

    1993-02-01

    High-quality, wide-aperture optical access is usually required for the advanced laser diagnostics that can now make a wide variety of non-intrusive measurements of combustion processes. Specially processed and mounted sapphire windows are proposed to provide this optical access to extreme environment. Through surface treatments and proper thermal stress design, single crystal sapphire can be a mechanically equivalent replacement for high strength steel. A prototype sapphire window and mounting system have been developed in a successful NASA SBIR Phase 1 project. A large and reliable increase in sapphire design strength (as much as 10x) has been achieved, and the initial specifications necessary for these gains have been defined. Failure testing of small windows has conclusively demonstrated the increased sapphire strength, indicating that a nearly flawless surface polish is the primary cause of strengthening, while an unusual mounting arrangement also significantly contributes to a larger effective strength. Phase 2 work will complete specification and demonstration of these windows, and will fabricate a set for use at NASA. The enhanced capabilities of these high performance sapphire windows will lead to many diagnostic capabilities not previously possible, as well as new applications for sapphire.

  10. Adaptive Liquid Crystal Windows

    Taheri, Bahman; Bodnar, Volodymyr

    2011-12-31

    Energy consumption by private and commercial sectors in the U.S. has steadily grown over the last decade. The uncertainty in future availability of imported oil, on which the energy consumption relies strongly, resulted in a dramatic increase in the cost of energy. About 20% of this consumption are used to heat and cool houses and commercial buildings. To reduce dependence on the foreign oil and cut down emission of greenhouse gases, it is necessary to eliminate losses and reduce total energy consumption by buildings. To achieve this goal it is necessary to redefine the role of the conventional windows. At a minimum, windows should stop being a source for energy loss. Ideally, windows should become a source of energy, providing net gain to reduce energy used to heat and cool homes. It is possible to have a net energy gain from a window if its light transmission can be dynamically altered, ideally electronically without the need of operator assistance, providing optimal control of the solar gain that varies with season and climate in the U.S. In addition, the window must not require power from the building for operation. Resolution of this problem is a societal challenge and of national interest and will have a broad global impact. For this purpose, the year-round, allclimate window solution to provide an electronically variable solar heat gain coefficient (SHGC) with a wide dynamic range is needed. AlphaMicron, Inc. (AMI) developed and manufactured 1ft × 1ft prototype panels for the world’s first auto-adjusting Adaptive Liquid Crystal Windows (ALCWs) that can operate from sunlight without the need for external power source and demonstrate an electronically adjustable SHGC. This novel windows are based on AlphaMicron’s patented e-Tint® technology, a guesthost liquid crystal system implemented on flexible, optically clear plastic films. This technology is suitable both for OEM and aftermarket (retro-fitting) lamination to new and existing windows. Low level of

  11. Windows 8.1 bible

    Boyce, Jim; Tidrow, Rob

    2014-01-01

    Windows 8.1 coverage that goes above and beyond all competitors? Serving as an evolutionary update to Windows 8, Windows 8.1 provides critical changes to parts of Windows 8, such as greater customization of the interface and boot operations, return of a 'start button' that reveals apps, greater integration between the two interfaces, and updates to apps. Weighing in at nearly 1000 pages, Windows 8.1 Bible provides deeper Windows insight than any other book on the market. It's valuable for both professionals needing a guide to the nooks and crannies of Windows and regular users wanting a wide

  12. Windows Azure Platform

    Redkar, Tejaswi

    2010-01-01

    The Azure Services Platform is a brand-new cloud-computing technology from Microsoft. It is composed of four core components-Windows Azure, .NET Services, SQL Services, and Live Services-each with a unique role in the functioning of your cloud service. It is the goal of this book to show you how to use these components, both separately and together, to build flawless cloud services. At its heart Windows Azure Platform is a down-to-earth, code-centric book. This book aims to show you precisely how the components are employed and to demonstrate the techniques and best practices you need to know

  13. Microsoft Windows Security Essentials

    Gibson, Darril

    2011-01-01

    Windows security concepts and technologies for IT beginners IT security can be a complex topic, especially for those new to the field of IT. This full-color book, with a focus on the Microsoft Technology Associate (MTA) program, offers a clear and easy-to-understand approach to Windows security risks and attacks for newcomers to the world of IT. By paring down to just the essentials, beginners gain a solid foundation of security concepts upon which more advanced topics and technologies can be built. This straightforward guide begins each chapter by laying out a list of topics to be discussed,

  14. Microsoft Windows networking essentials

    Gibson, Darril

    2011-01-01

    The core concepts and technologies of Windows networking Networking can be a complex topic, especially for those new to the field of IT. This focused, full-color book takes a unique approach to teaching Windows networking to beginners by stripping down a network to its bare basics, thereby making each topic clear and easy to understand. Focusing on the new Microsoft Technology Associate (MTA) program, this book pares down to just the essentials, showing beginners how to gain a solid foundation for understanding networking concepts upon which more advanced topics and technologies can be built.

  15. 75 FR 53007 - Gulf Opportunity Pilot Loan Program (GO Loan Pilot)

    2010-08-30

    ... SMALL BUSINESS ADMINISTRATION Gulf Opportunity Pilot Loan Program (GO Loan Pilot) AGENCY: U.S...'s GO Loan Pilot until September 30, 2011. Due to the scope and magnitude of the devastation to... streamlined and centralized loan processing available through the GO Loan Pilot to small businesses in the...

  16. Student Loans Driving You Crazy? A Borrower's Guide to Direct Consolidation Loans.

    Office of Federal Student Aid (ED), Washington, DC.

    This booklet describes the Direct Consolidation Loan program students can use to combine one or more student loans into a new loan. Things to consider before seeking a consolidation loan are outlined. Direct consolidation loans offer a number of advantages; they are free, result in one lender and one monthly payment, and offer flexible repayment…

  17. 78 FR 64294 - Loan Guaranty: Mandatory Electronic Delivery of Loan Files for Review

    2013-10-28

    ... DEPARTMENT OF VETERANS AFFAIRS Loan Guaranty: Mandatory Electronic Delivery of Loan Files for... Affairs (VA) Loan Guaranty Service (LGY) announces a new policy with regard to lender submission of VA- guaranteed closed loan files for review. Currently, lenders can submit loan files selected for review by LGY...

  18. 76 FR 27986 - Funding for the Conservation Loan Program; Farm Loan Programs

    2011-05-13

    ... for the Conservation Loan Program; Farm Loan Programs AGENCY: Farm Service Agency, USDA. ACTION... or guaranteed loan applications for the Conservation Loan (CL) Program because of lack of program... provisions to the existing direct and guaranteed loan regulations found in 7 CFR parts 761, 762, 764, 765...

  19. 77 FR 13530 - Funding for the Conservation Loan Program; Farm Loan Programs

    2012-03-07

    ... DEPARTMENT OF AGRICULTURE Farm Service Agency Funding for the Conservation Loan Program; Farm Loan... Service Agency (FSA) now has funding for and is accepting guaranteed loan applications for the Conservation Loan (CL) Program. Due to a lack of program funding for direct CLs, direct loan applications are...

  20. 7 CFR 1735.73 - Loan design.

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan design. 1735.73 Section 1735.73 Agriculture... Funds § 1735.73 Loan design. When loan funds are requested for an acquisition, details of the proposed acquisition shall be included in the Loan Design. See 7 CFR part 1737. ...

  1. 7 CFR 1980.481 - Insured loans.

    2010-01-01

    ... REGULATIONS (CONTINUED) GENERAL Business and Industrial Loan Program § 1980.481 Insured loans. Applications...) Constructing and equipping industrial plants for lease to private businesses (not including loans for operating... concurrence prior to approval. B. Applications from private parties for insured loans will not be encouraged...

  2. 7 CFR 773.7 - Loan uses.

    2010-01-01

    ... PROGRAMS SPECIAL APPLE LOAN PROGRAM § 773.7 Loan uses. Loan funds may be used for any of the following purposes related to the production or marketing of apples: (a) Payment of costs associated with..., processing or marketing purposes; or (h) Payment of loan closing costs. ...

  3. 7 CFR 1822.274 - Loan closing.

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Loan closing. 1822.274 Section 1822.274 Agriculture... SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE LOANS AND GRANTS PRIMARILY FOR REAL ESTATE PURPOSES RURAL HOUSING LOANS AND GRANTS Rural Housing Site Loan Policies...

  4. 24 CFR 573.4 - Loan term.

    2010-04-01

    ... 24 Housing and Urban Development 3 2010-04-01 2010-04-01 false Loan term. 573.4 Section 573.4 Housing and Urban Development Regulations Relating to Housing and Urban Development (Continued) OFFICE OF... COMMUNITY FACILITIES LOAN GUARANTEE RECOVERY FUND § 573.4 Loan term. The term of the loan to be guaranteed...

  5. 44 CFR 206.371 - Loan program.

    2010-10-01

    ... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Loan program. 206.371 Section... HOMELAND SECURITY DISASTER ASSISTANCE FEDERAL DISASTER ASSISTANCE Community Disaster Loans § 206.371 Loan... Special Community Disaster Loan to any local government which has suffered a substantial loss of tax and...

  6. 7 CFR 1776.16 - Loan servicing.

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Loan servicing. 1776.16 Section 1776.16 Agriculture... (CONTINUED) HOUSEHOLD WATER WELL SYSTEM GRANT PROGRAM HWWS Loans § 1776.16 Loan servicing. (a) If RUS determines that HWWS loans may be serviced by CSC, then the grant recipient will enter into an agreement with...

  7. 5 CFR 1620.35 - Loan payments.

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Loan payments. 1620.35 Section 1620.35... Nonappropriated Fund Employees § 1620.35 Loan payments. NAF instrumentalities must deduct and transmit TSP loan... CFR part 1655 and Board procedures. Loan payments may not be deducted and transmitted for employees...

  8. 24 CFR 1007.35 - Loan terms.

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Loan terms. 1007.35 Section 1007.35... LOAN GUARANTEES FOR NATIVE HAWAIIAN HOUSING § 1007.35 Loan terms. To be eligible for guarantee under this part, the loan shall: (a) Be made for a term not exceeding 30 years; (b) Bear interest (exclusive...

  9. 14 CFR 1300.15 - Loan terms.

    2010-01-01

    ... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Loan terms. 1300.15 Section 1300.15... DISASTER RELIEF-AIR CARRIER GUARANTEE LOAN PROGRAM Minimum Requirements and Application Procedures § 1300.15 Loan terms. (a) A loan guaranteed under the program shall be due and payable in full no later than...

  10. 75 FR 14331 - Disaster Assistance Loan Program

    2010-03-25

    ... SMALL BUSINESS ADMINISTRATION 13 CFR Part 123 RIN 3245-AF98 Disaster Assistance Loan Program...-term disaster loans to homeowners, renters, businesses, and non-profit organizations that have been... to disaster victims by raising the statutory loan limit for loans to businesses, increasing the...

  11. 44 CFR 206.361 - Loan program.

    2010-10-01

    ... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Loan program. 206.361 Section... HOMELAND SECURITY DISASTER ASSISTANCE FEDERAL DISASTER ASSISTANCE Community Disaster Loans § 206.361 Loan... Community Disaster Loan to any local government which has suffered a substantial loss of tax and other...

  12. 5 CFR 1655.12 - Loan agreement.

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Loan agreement. 1655.12 Section 1655.12 Administrative Personnel FEDERAL RETIREMENT THRIFT INVESTMENT BOARD LOAN PROGRAM § 1655.12 Loan agreement. (a) Upon determining that a loan application meets the requirements of this part, the TSP record keeper...

  13. 7 CFR 771.15 - Loan servicing.

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan servicing. 771.15 Section 771.15 Agriculture... SPECIAL PROGRAMS BOLL WEEVIL ERADICATION LOAN PROGRAM § 771.15 Loan servicing. (a) Advances. FSA may make... advances. (b) Payments. Payments will be made to FSA as set forth in loan agreements and debt instruments...

  14. 77 FR 59346 - Payday-Alternative Loans

    2012-09-27

    ... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 701 RIN 3133-AE08 Payday-Alternative Loans AGENCY...: The NCUA Board (Board) is currently reviewing its regulation governing payday-alternative loans (PAL... to offer PAL loans, previously referred to as short- term, small amount loans, as an alternative to...

  15. 31 CFR 25.400 - Loan provisions.

    2010-07-01

    ... SALES LOANS MADE BY THE DEFENSE SECURITY ASSISTANCE AGENCY AND FOREIGN MILITARY SALES LOANS MADE BY THE FEDERAL FINANCING BANK AND GUARANTEED BY THE DEFENSE SECURITY ASSISTANCE AGENCY Form of Private Loan § 25... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Loan provisions. 25.400 Section 25...

  16. 7 CFR 1434.18 - Loan repayments.

    2010-01-01

    ... repayment rate for marketing assistance loans for honey under this part will be in effect on a short-term... AGRICULTURE LOANS, PURCHASES, AND OTHER OPERATIONS NONRECOURSE MARKETING ASSISTANCE LOAN AND LDP REGULATIONS FOR HONEY § 1434.18 Loan repayments. (a) A honey producer may repay a nonrecourse marketing assistance...

  17. 7 CFR 764.402 - Loan closing.

    2010-01-01

    ... SPECIAL PROGRAMS DIRECT LOAN MAKING Loan Decision and Closing § 764.402 Loan closing. (a) Signature... information for the Agency to reconfirm approval and proceed with loan closing. (3) The Agency or closing... account will be used according to subpart B of part 761 of this chapter when these processes are not...

  18. Incomplete information and the closed-end fund discount

    Barone-Adesi, Giovanni; Kim, Youngsoo

    2008-01-01

    We model the closed-end fund discount/premium in a version of Merton’s (1978) asset pricing model with incomplete information. In this economy, investors trade only assets which they “ know about” . The model generates a closed-end fund discount or premium, depending on risk-aversion parameters. The fund share price reverts to the net asset value on open-ending of the fund. The discount/premium is a result of two economic forces: (1) the fund manager’s objective is to maximize expected utilit...

  19. Where do we stand on discounts? - A Danish perspective

    Bergqvist, Christian

    The dominant undertaking’s ability to award discounts and other loyalty inducing considerations are subject to much ambiguity and many unsettled issues. Despite discounts being a commercial requirement, even for the dominant undertaking, it’s difficult to draw up clear principles, and while...... the approach to non-dominant undertaking’s restriction of competition has been fundamentally recast over the last 20 years, the appraisal of single company behaviour remains more formal and rigid. However, there have recently been indications that some of the same leniency might have been extended to discounts...

  20. Discounted cost model for condition-based maintenance optimization

    Weide, J.A.M. van der; Pandey, M.D.; Noortwijk, J.M. van

    2010-01-01

    This paper presents methods to evaluate the reliability and optimize the maintenance of engineering systems that are damaged by shocks or transients arriving randomly in time and overall degradation is modeled as a cumulative stochastic point process. The paper presents a conceptually clear and comprehensive derivation of formulas for computing the discounted cost associated with a maintenance policy combining both condition-based and age-based criteria for preventive maintenance. The proposed discounted cost model provides a more realistic basis for optimizing the maintenance policies than those based on the asymptotic, non-discounted cost rate criterion.

  1. Where Do We Stand on Discounts? - A Nordic Perspective

    Bastida, Vladimir; Ballebye Okholm, Henrik; Pedersen, Torben

    Dominant undertakings’ ability, under competition law, to award discounts and other loyalty inducing considerations are subject to much ambiguity and unsettled issues. Despite discounts being a commercial requirement, even for the dominant undertaking, it is difficult to draw up clear principles....... to dis-counts and unilateral behaviour and in particular the 2017 Court of Justice rul-ing in Intel has reopened the discussions. The objective of this book is to pro-vide guidance on the matter under EU and Nordic competition law and to align these with economic theory....

  2. Exploring Shop Window Displays

    Christopoulou, Martha

    2011-01-01

    Using visual resources from everyday life in art lessons can enrich students' knowledge about the creation of visual images, artifacts, and sites, and develop their critical understanding about the cultural impact of these images and their effects on people's lives. Through examining an exhibition in the windows of Selfridges department store in…

  3. Windows and lighting program

    1990-06-01

    More than 30% of all energy use in buildings is attributable to two sources: windows and lighting. Together they account for annual consumer energy expenditures of more than $50 billion. Each affects not only energy use by other major building systems, but also comfort and productivity -- factors that influence building economics far more than does direct energy consumption alone. Windows play a unique role in the building envelope, physically separating the conditioned space from the world outside without sacrificing vital visual contact. Throughout the indoor environment, lighting systems facilitate a variety of tasks associated with a wide range of visual requirements while defining the luminous qualities of the indoor environment. Windows and lighting are thus essential components of any comprehensive building science program. Despite important achievements in reducing building energy consumption over the past decade, significant additional savings are still possible. These will come from two complementary strategies: (1) improve building designs so that they effectively apply existing technologies and extend the market penetration of these technologies; and (2) develop advanced technologies that increase the savings potential of each application. Both the Windows and Daylighting Group and the Lighting System Research Group have made substantial contributions in each of these areas, and continue to do so through the ongoing research summarized here. 23 refs., 16 figs.

  4. 77 FR 76414 - William D. Ford Federal Direct Loan Program

    2012-12-28

    ... Federal Direct Loan Program AGENCY: Department of Education. ACTION: Final regulations; correction... Loan (Perkins Loan) Program; the Federal Family Education Loan (FFEL) Program; and the William D. Ford Federal Direct Loan (Direct Loan) Program, including the Public Service Loan Forgiveness (PSLF) Program...

  5. Norplant debate: dollars v. sense. Is Norplant discount in U.S. too little, too late?

    1994-01-01

    At a Congressional hearing of the pricing strategy for Norplant, and after several family planning specialists testified that Norplant's cost ($365) makes it inaccessible to many US women, Wyeth-Ayerst announced that, in 2 years, it would provide Norplant to public sector family planning clinics at a discount price. Just 1.4% of clients at Planned Parenthood clinics choose Norplant, because it is too costly. While Title X clinic officials are pleased with this announcement, many family planning providers wonder what the manufacturer's motives are. The president of the National Family Planning and Reproductive Health Association believes that the announcement is a press ploy. The Wyeth spokesperson said the original licensing agreement with the Population Council allowed a public sector price 5 years after Norplant's introduction in the US market. The 5-year delay was intended to build private sector support and to allow Wyeth to recover its marketing and training expenses. Wyeth also wanted Norplant to become a mainstream contraceptive, so it became concerned about the private sector. Yet, the law requires a 15% rebate for qualified public health clinics now. Few family planners expressed praise for Wyeth, since it revealed no details on the public sector price. Further, health care reform may alter drug pricing before the 2-year period. In early 1994, Wyeth's exclusive patent on Norplant and on levonorgestrel expires, allowing other companies to enter the implant market. Yet, other companies need at least 1 year to negotiate with the US Food and Drug Administration for approval, thereby allowing Wyeth a window to dominate the market. Thus, by the time the 2 years is up, the discount will have no meaning. Family planners have criticized Wyeth for not offering a public sector discount for a long time, especially since public funds contributed to Norplant's development. Wyeth's only contribution was levonorgestrel. It allowed the Population Council to use

  6. Corporate boards and bank loan contracting

    Francis, Bill; Hasan, Iftekhar; Koetter, Michael; Wu, Qiang

    2012-01-01

    We investigate the role of corporate boards in bank loan contracting. We find that when corporate boards are more independent, both price and nonprice loan terms (e.g., interest rates, collateral, covenants, and performance-pricing provisions) are more favorable, and syndicated loans comprise more lenders. In addition, board size, audit committee structure, and other board characteristics influence bank loan prices. However, they do not consistently affect all nonprice loan terms except for a...

  7. A new Loan-Stock Financial Instrument

    Morozovsky, Alexander; Narasimhan, Rajan; Kholodenko, Yuri

    2000-01-01

    A new financial instrument (a new kind of a loan) is introduced. The loan-stock instrument (LSI) combines fixed rate instruments (loans, etc.) with other financial instruments that have higher volatilities and returns (stocks, mutual funds, currencies, derivatives, options, etc.). This new loan depends on the value of underlying security (for example, stock) in such a way that when underlying security increases, the value of loan decreases and backwards. The procedure to create a risk free po...

  8. Lower HVAC Costs | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  9. Increased Light & View | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  10. Condensation Resistance (CR) | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  11. Fact Sheets & Publications | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  12. State Fact Sheets | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  13. State Code Guides | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  14. Low Conductance Spacers | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  15. National Fenestration Rating Council (NFRC) | Efficient Windows

    Collaborative Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring

  16. Energy & Cost Savings | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  17. Provide Natural Light | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  18. Provide Fresh Air | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  19. Air Leakage (AL) | Efficient Windows Collaborative

    Foundry Foundry New Construction Windows Window Selection Tool Selection Process Design Guidance Installation Replacement Windows Window Selection Tool Assessing Options Selection Process Design Guidance Installation Understanding Windows Benefits Design Considerations Measuring Performance Performance Standards

  20. Discounting the distant future—Data on Australian discount rates estimated by a stochastic interest rate model

    Chi Truong

    2017-04-01

    Full Text Available Data on certainty equivalent discount factors and discount rates for stochastic interest rates in Australia are provided in this paper. The data has been used for the analysis of investments into climate adaptation projects in ׳It׳s not now or never: Implications of investment timing and risk aversion on climate adaptation to extreme events׳ (Truong and Trück, 2016 [3] and can be used for other cost-benefit analysis studies in Australia. The data is of particular interest for the discounting of projects that create monetary costs and benefits in the distant future.

  1. Discounting the distant future-Data on Australian discount rates estimated by a stochastic interest rate model.

    Truong, Chi; Trück, Stefan

    2017-04-01

    Data on certainty equivalent discount factors and discount rates for stochastic interest rates in Australia are provided in this paper. The data has been used for the analysis of investments into climate adaptation projects in ׳It׳s not now or never: Implications of investment timing and risk aversion on climate adaptation to extreme events ׳ (Truong and Trück, 2016) [3] and can be used for other cost-benefit analysis studies in Australia. The data is of particular interest for the discounting of projects that create monetary costs and benefits in the distant future.

  2. A social discounting model based on Tsallis’ statistics

    Takahashi, Taiki

    2010-09-01

    Social decision making (e.g. social discounting and social preferences) has been attracting attention in economics, econophysics, social physics, behavioral psychology, and neuroeconomics. This paper proposes a novel social discounting model based on the deformed algebra developed in the Tsallis’ non-extensive thermostatistics. Furthermore, it is suggested that this model can be utilized to quantify the degree of consistency in social discounting in humans and analyze the relationships between behavioral tendencies in social discounting and other-regarding economic decision making under game-theoretic conditions. Future directions in the application of the model to studies in econophysics, neuroeconomics, and social physics, as well as real-world problems such as the supply of live organ donations, are discussed.

  3. Review of assessment methods discount rate in investment analysis

    Yamaletdinova Guzel Hamidullovna

    2011-08-01

    Full Text Available The article examines the current methods of calculating discount rate in investment analysis and business valuation, as well as analyzes the key problems using various techniques in terms of the Russian economy.

  4. Welcome to professional courtesy discounts: the medical community's pandora's box.

    Winkler, A D

    1998-01-01

    Recent government regulations on fraud and abuse have transformed the tradition of professional courtesy discounts into a legal minefield threatening to explode on the uninformed medical provider. This paper offers an understanding of the issues involved and provider options.

  5. Online Discount Luxury: In Search of Guilty Customers

    Dr. Nikolai Ostapenko

    2013-07-01

    Full Text Available Discount luxury sites mainly serve as online platform for the “flash sales” method, offering limited-time availability of high fashion, travel, home décor, and culinary bargains to its members. The idea of moving “sample sales” online was first realized on a European website, Vente-Privee.com, which now has more than 13 million customers. Following Gilt’s introduction in the United States, flash sales skyrocketed and led to the launching of many new sites, which have proved popular both with consumers seeking impressive discounts on luxury goods, and with exclusive brands wanting to unload their unsold stock quickly. Recently we found that many of the sites are going through the customer fatigue stage, and their further success requires more than just deep discounts. The article reviews possible new business strategies and models within discount luxury retail segment mainly based upon experience of the Gilt Groupe.

  6. Discounting of quantity surveying fees in South Africa

    by clients have forced Quantity Surveying firms into competition with ... Furthermore, 43% of consulting engineering firms were discounting their fees at a rate of .... Quantity. Surveying services are also offered in the fields of dispute resolution,.

  7. Dual discounting in cost-benefit analysis for environmental impacts

    Kula, Erhun; Evans, David

    2011-01-01

    Discounting has been a long-established intertemporal efficiency tool in cost-benefit analysis which focuses on project selection at communal level with a view to maximising the social welfare. However, with the relentless growth in environmental stress that, in good parts, stems from investment projects the established criterion in discounting appears to be inadequate especially when environmental issues are taken into consideration. This paper looks at how dual focus on efficiency and sustainability can be achieved by using dual discounting, i.e. discounting environmental benefits separately and differently from other costs and benefits and applies this alternative criterion to an afforestation scheme in the United Kingdom which contains carbon sequestration in addition to timber benefits.

  8. Heaven can wait. How religion modulates temporal discounting.

    Paglieri, Fabio; Borghi, Anna M; Colzato, Lorenza S; Hommel, Bernhard; Scorolli, Claudia

    2013-11-01

    Evidence suggests that religious systems have specific effects on attentional and action control processes. The present study investigated whether religions also modulate choices that involve higher-order knowledge and the delay of gratification in particular. We tested Dutch Calvinists, Italian Catholics, and Atheists from both countries/cultures using an intertemporal choice task where participants could choose between a small immediate and a larger delayed monetary reward. Based on the Calvinist theory of predestination and the Catholic concept of a cycle of sin-confession-expiation, we predicted a reduced delay tolerance, i.e., higher discount rate, for Italian Catholics than for Dutch Calvinists, and intermediate rates for the two atheist groups. Analyses of discount rates support our hypotheses. We also found a magnitude effect on temporal discounting and faster responses for large than for small rewards across religions and countries/cultures. We conclude that temporal discounting is specifically modulated by religious upbringing rather than by generic cultural differences.

  9. INFLUENCE OF DISCOUNT PRICE ANNOUNCEMENTS ON CONSUMER’S BEHAVIOR

    Giuliana Isabella

    2012-10-01

    Full Text Available The theoretical framework that underpins this research study is based on the Prospect Theory formulated by Kahneman and Tversky, and Thaler´s Mental Accounting Theory. The research aims to evaluate the consumers’ behavior when different patterns of discount are offered (in percentage and absolute value and for larger and smaller discounts. Two experiments were conducted to explore these patterns of behavior and the results that were obtained supported the view that the framing effect was a common occurrence. The patterns of choice of individuals in a sample were found to be different due to changes in the ways discounts were offered. This can be explained by the various ways of presenting discount rates that had an impact on the influence of purchase intentions, recommendations and quality perception.

  10. Delayed discounting of pain with and without monetary reward

    Kicman Paweł

    2017-12-01

    Full Text Available We investigated the effect of monetary rewards on the rate of pain discounting. Our aim, also, was to understand the effect of previous painful dental experiences on the rate of discounting pain. Two groups (N = 148 completed a discounting task. In the first group, delayed pain was weaker than immediate pain, and in the second group delayed pain was stronger than immediate pain. Two conditions were studied: pain was either accompanied by a monetary reward or not. We found that people preferred immediate pain when it was weaker than delayed pain; however, when delayed pain was stronger than immediate pain, there was no clear preference. In both groups the preference for immediate pain was higher when pain was accompanied by a monetary reward. Previous painful experiences were not related to the rate of discounting. It was concluded that the preference for delayed pain depends on the intensity of pain, and it can be modified by rewards that accompany pain.

  11. Thermal bridges of modern windows

    Hansen, Ernst Jan de Place; Møller, Eva B.; Nielsen, Anker

    2013-01-01

    if the window has an U-factor of 1 W/(m2·K) or lower. This paper describes the development of modern, energy efficient Danish windows with reduced thermal bridges. It focuses on materials, geometry, and sealing of window panes based on a literature review. Examples of modern windows are presented. Experience...... been an important driver for the development of new window solutions in Denmark, increasing the inner-surface temperature at the sealing of window panes. However, it will not stop complaints fromconsumers, as this temperature is calculated under standardized conditions. Increasing requirements...

  12. A Rational Model of the Closed-End Fund Discount

    Jonathan Berk; Richard Stanton

    2004-01-01

    The discount on closed-end funds is widely accepted as proof of investor irrationality. We show,however, that a parsimonious rational model can generate a discount that exhibits many of the characteristics observed in practice. The only required features of the model are that managers have (imperfectly observable) ability to generate excess returns; they sign long-term contracts guaranteeing them a fee each year equal to a fixed fraction of assets under management; and they can leave to earn ...

  13. Discount Rate and Timber Rotation: the Case of Eucalyptus Saligna

    Camilo Restrepo; Mauricio Alviar

    2010-01-01

    Eucalyptus is one of the most important economical and environmental species in Colombia. The main goal of this article is to study the relationship between the discount rate and the year of Eucalyptus Saligna optimal harvest, through the Fisher and Hotelling’s method. The methodology consists of calculating the maximum Net Present Value and performing a sensitivity analysis between the year of harvest and the discount rate. The area of study is located in the eastern region of the state of A...

  14. 12 CFR 32.7 - Residential real estate loans, small business loans, and small farm loans.

    2010-01-01

    ... concerns about credit quality, undue concentrations in the bank's portfolio of residential real estate, small business, or small farm loans, or concerns about the bank's overall credit risk management systems...

  15. The neural basis of cultural differences in delay discounting.

    Kim, Bokyung; Sung, Young Shin; McClure, Samuel M

    2012-03-05

    People generally prefer to receive rewarding outcomes sooner rather than later. Such preferences result from delay discounting, or the process by which outcomes are devalued for the expected delay until their receipt. We investigated cultural differences in delay discounting by contrasting behaviour and brain activity in separate cohorts of Western (American) and Eastern (Korean) subjects. Consistent with previous reports, we find a dramatic difference in discounting behaviour, with Americans displaying much greater present bias and elevated discount rates. Recent neuroimaging findings suggest that differences in discounting may arise from differential involvement of either brain reward areas or regions in the prefrontal and parietal cortices associated with cognitive control. We find that the ventral striatum is more greatly recruited in Americans relative to Koreans when discounting future rewards, but there is no difference in prefrontal or parietal activity. This suggests that a cultural difference in emotional responsivity underlies the observed behavioural effect. We discuss the implications of this research for strategic interrelations between Easterners and Westerners.

  16. An Adjusted Discount Rate Model for Fuel Cycle Cost Estimation

    Kim, S. K.; Kang, G. B.; Ko, W. I. [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

    2013-10-15

    Owing to the diverse nuclear fuel cycle options available, including direct disposal, it is necessary to select the optimum nuclear fuel cycles in consideration of the political and social environments as well as the technical stability and economic efficiency of each country. Economic efficiency is therefore one of the significant evaluation standards. In particular, because nuclear fuel cycle cost may vary in each country, and the estimated cost usually prevails over the real cost, when evaluating the economic efficiency, any existing uncertainty needs to be removed when possible to produce reliable cost information. Many countries still do not have reprocessing facilities, and no globally commercialized HLW (High-level waste) repository is available. A nuclear fuel cycle cost estimation model is therefore inevitably subject to uncertainty. This paper analyzes the uncertainty arising out of a nuclear fuel cycle cost evaluation from the viewpoint of a cost estimation model. Compared to the same discount rate model, the nuclear fuel cycle cost of a different discount rate model is reduced because the generation quantity as denominator in Equation has been discounted. Namely, if the discount rate reduces in the back-end process of the nuclear fuel cycle, the nuclear fuel cycle cost is also reduced. Further, it was found that the cost of the same discount rate model is overestimated compared with the different discount rate model as a whole.

  17. An Adjusted Discount Rate Model for Fuel Cycle Cost Estimation

    Kim, S. K.; Kang, G. B.; Ko, W. I.

    2013-01-01

    Owing to the diverse nuclear fuel cycle options available, including direct disposal, it is necessary to select the optimum nuclear fuel cycles in consideration of the political and social environments as well as the technical stability and economic efficiency of each country. Economic efficiency is therefore one of the significant evaluation standards. In particular, because nuclear fuel cycle cost may vary in each country, and the estimated cost usually prevails over the real cost, when evaluating the economic efficiency, any existing uncertainty needs to be removed when possible to produce reliable cost information. Many countries still do not have reprocessing facilities, and no globally commercialized HLW (High-level waste) repository is available. A nuclear fuel cycle cost estimation model is therefore inevitably subject to uncertainty. This paper analyzes the uncertainty arising out of a nuclear fuel cycle cost evaluation from the viewpoint of a cost estimation model. Compared to the same discount rate model, the nuclear fuel cycle cost of a different discount rate model is reduced because the generation quantity as denominator in Equation has been discounted. Namely, if the discount rate reduces in the back-end process of the nuclear fuel cycle, the nuclear fuel cycle cost is also reduced. Further, it was found that the cost of the same discount rate model is overestimated compared with the different discount rate model as a whole

  18. Occupants' window opening behaviour

    Fabi, Valentina; Andersen, Rune Korsholm; Corgnati, Stefano

    2012-01-01

    Energy consumption in buildings is influenced by several factors related to the building properties and the building controls, some of them highly connected to the behaviour of their occupants.In this paper, a definition of items referring to occupant behaviour related to the building control...... systems is proposed, based on studies presented in literature and a general process leading to the effects on energy consumptions is identified.Existing studies on the topic of window opening behaviour are highlighted and a theoretical framework to deal with occupants' interactions with building controls......, aimed at improving or maintaining the preferred indoor environmental conditions, is elaborated. This approach is used to look into the drivers for the actions taken by the occupants (windows opening and closing) and to investigate the existing models in literature of these actions for both residential...

  19. Credit reporting, relationship banking, and loan repayment

    Tahereh Shirzad Kebria

    2015-06-01

    Full Text Available This paper presents an empirical investigation to determine factors influencing on loan repayment in one of Iranian banks named Sepah Bank over the period 2012-2013. The study selects a sample of 290 bank’s customers who received loans and, using logistic regression technique, tries to find whether or not qualitative as well as quantitative characteristics of loan receivers influence on repayment of loans. The results indicate that history of outstanding debt as well as customers’ past experiences with banks had meaningful relationships with having bad credit and non-payment of loans. In our survey, having a bad credit in the past had positive relationship with non-payment of loans but long-term customers had negative relationship with non-payment of loans. In addition, working capital turnover ratio, cash ratio, total liabilities, current assets and loan value had significant impact on non-repayment of the loan facilities.

  20. A novel multi-item joint replenishment problem considering multiple type discounts.

    Ligang Cui

    Full Text Available In business replenishment, discount offers of multi-item may either provide different discount schedules with a single discount type, or provide schedules with multiple discount types. The paper investigates the joint effects of multiple discount schemes on the decisions of multi-item joint replenishment. In this paper, a joint replenishment problem (JRP model, considering three discount (all-unit discount, incremental discount, total volume discount offers simultaneously, is constructed to determine the basic cycle time and joint replenishment frequencies of multi-item. To solve the proposed problem, a heuristic algorithm is proposed to find the optimal solutions and the corresponding total cost of the JRP model. Numerical experiment is performed to test the algorithm and the computational results of JRPs under different discount combinations show different significance in the replenishment cost reduction.

  1. Time discounting and pain anticipation. Experimental evidence

    Brañas Garza, Pablo

    2012-03-01

    Full Text Available This paper deals with pain anticipation experienced before medical procedures. our experimental results show that individuals with lower time discount factors are more prone to suffer pain in advance. We provide a framework to rationalize the connection between pain anticipation and impatience. in this set up, more impatient subjects, who only value very near events, mainly take into account the present negative effects of medical procedures (the costs, whereas more patient individuals have a net positive valuation of medical events, given that they are able to value both the cost incurred now and all the benefits to be accrued in the future.

    Este artículo trata de la anticipación del dolor experimentada antes de los procedimientos médicos. nuestros resultados experimentales muestran que los individuos con factor de descuento temporal más bajo son más proclives a sufrir dolor por adelantado. el artículo proporciona un marco en el que racionalizar la relación existente entre impaciencia y anticipación del dolor. en este marco, los sujetos más impacientes, que evalúan sólo los eventos muy próximos en el tiempo, focalizan su atención principalmente en los efectos negativos de los procedimientos médicos (sólo los costes, mientras que los individuos más pacientes tienen una valoración neta positiva de los actos médicos puesto que valoran tanto el coste en el que se incurre en el presente como los beneficios que se obtendrán en el futuro.

  2. Estimation of social discount rate for Lithuania

    Vilma Kazlauskiene

    2016-09-01

    Full Text Available Purpose of the article: The paper seeks to analyse the problematics of estimation of the social discount rate (SDR. The SDR is the critical parameter of cost-benefit analysis, which allows calculating the present value of cost and the benefit of public sector investment projects. Incorrect choice of the SDR can lead to the realisation of ineffective public project or conversely, cost-effective project will be rejected. The relevance of this problem analysis is determined by discussions and different viewpoints of scientists on the choice of the most appropriate approach to determine the SDR and absence of methodically based the SDR on the national level of Lithuania. Methodology/methods: The research is performed by the scientific and methodical literature analysis, systematization, time series and regression analysis. Scientific aim: The aim of the article is to calculate the SDR based on the statistical data of Lithuania. Findings: The analysis of methods of SDR determination, as well as the researches performed by foreign researchers, allows stating that the social rate of time preference (SRTP approach is the most appropriate. The SDR, calculated by the SRTP approach, reflects the main purpose of public investment projects, i.e. to enhance social benefit for society, the best. The analyses of SDR determination practice of the foreign countries shows that the SDR level should not be universal for all states. Each country should calculate the SDR based on its own data and apply it for the assessment of public projects. Conclusions: The calculated SDR for Lithuania using the SRTP approach varies between 3.5% and 4.3%. Although it is lower than 5% that is offered by European Commission, this rate is based on the statistical data of Lithuania and should be used for the assessment of the national public projects. Applicatio

  3. The Vivid Present: Visualization Abilities Are Associated with Steep Discounting of Future Rewards.

    Parthasarathi, Trishala; McConnell, Mairead H; Luery, Jeffrey; Kable, Joseph W

    2017-01-01

    Humans and other animals discount the value of future rewards, a phenomenon known as delay discounting. Individuals vary widely in the extent to which they discount future rewards, and these tendencies have been associated with important life outcomes. Recent studies have demonstrated that imagining the future reduces subsequent discounting behavior, but no research to date has examined whether a similar principle applies at the trait level, and whether training visualization changes discounting. The current study examined if individual differences in visualization abilities are linked to individual differences in discounting and whether practicing visualization can change discounting behaviors in a lasting way. Participants ( n = 48) completed the Vividness of Visual Imagery Questionnaire (VVIQ) and delay discounting task and then underwent a 4-week intervention consisting of visualization training (intervention) or relaxation training (control). Contrary to our hypotheses, participants who reported greater visualization abilities (lower scores) on the VVIQ were higher discounters. To further examine this relationship, an additional 106 participants completed the VVIQ and delay discounting task. In the total sample ( n = 154), there was a significant negative correlation between VVIQ scores and discount rates, showing that individuals who are better visualizers are also higher discounters. Consistent with this relationship but again to our surprise, visualization training tended, albeit weakly, to increase discount rates, and those whose VVIQ decreased the most were those whose discount rates increased the most. These results suggest a novel association between visualization abilities and delay discounting.

  4. Combining Environmental and Spatial Discount Rates for Valuation of Assets According to International Financial Reporting Standards

    Jaunzeme Justine Sophia

    2016-06-01

    Full Text Available Application of discount rate in finance and accounting is founded on the concept of time value of money. Discounted cash flow model is widely used for asset valuation under the International Financial Reporting Standards (in abbreviation, IFRS. The discount rate applied in valuation models normally is the best rate of return that investors would earn alternative investments. With emergence of ecological economics as a separate branch of economics, the concept of ecological (or in other words, environmental discount rate has been elaborated. Muller (2013 in his paper ‘The Discounting Confusion: an Ecological Economics Perspective’, argues that traditional discounting can undermine long-term sustainability of the economy. In his work, Frank G. Muller considered adjusting the traditional discount rate in order to arrive at an environmental discount rate, which would help to ensure the sustainability of the economy. Hannon (2001 and Perrings (2001 in their paper ‘An Introduction to Spatial Discounting’ consider another variation of the discount rate - spatial discount rate. Spatial discount rate represents the rate at which the diffusion of environmental effects of economic activities is discounted over space. By February 2016, neither the application of environmental nor spatial discount rates under IFRS has been considered. The purpose of this paper is to analyse the implications that environmental and spatial discounting would have for the application of discounted cash flow model according to IFRS. The research methods applied are methods of economic analysis and synthesis.

  5. Evaluation Of Loan Disbursement And Repayment Of Supervised ...

    Evaluation Of Loan Disbursement And Repayment Of Supervised Credit ... bank as regard to loan supervision was scored low as a result of low rate of loan recovery, ... strategy to recover outstanding debts and reduce interest charge on loans.

  6. Selection of a discount rate for use in NRC regulatory analyses and application of discount rates to future averted health effects

    Paananen, O.H.; Hendrickson, P.L.

    1993-01-01

    The principal objective of this report is to provide background information and recommendations on the use of discount rates in the regulatory analysis process. The report focuses on two issues selecting the appropriate discount rate or rates to use when conducting a regulatory analysis, and applying the selected discount rate to future health-related benefits estimated to result from alternative regulatory actions

  7. Tracking the Discount: Tuition Discount Rates, Net Tuition Revenue, and Efforts to Inform Institutional Practices. Professional File. Article 133, Fall 2013

    Davis, Natalie Pullaro; Redd, Kenneth E.

    2013-01-01

    This article uses findings from the 2012 Tuition Discounting Study (TDS) conducted by the National Association of College and University Business Officers (NACUBO) to provide a framework for institutional researchers to develop and adapt their own custom tuition discounting definitions and formulas. Under tuition discounting, colleges and…

  8. Windows Home Server users guide

    Edney, Andrew

    2008-01-01

    Windows Home Server brings the idea of centralized storage, backup and computer management out of the enterprise and into the home. Windows Home Server is built for people with multiple computers at home and helps to synchronize them, keep them updated, stream media between them, and back them up centrally. Built on a similar foundation as the Microsoft server operating products, it's essentially Small Business Server for the home.This book details how to install, configure, and use Windows Home Server and explains how to connect to and manage different clients such as Windows XP, Windows Vist

  9. Teach yourself visually Windows 10

    McFedries, Paul

    2015-01-01

    Learn Windows 10 visually with step-by-step instructions Teach Yourself VISUALLY Windows 10 is the visual learner's guide to the latest Windows upgrade. Completely updated to cover all the latest features, this book walks you step-by-step through over 150 essential Windows tasks. Using full color screen shots and clear instruction, you'll learn your way around the interface, set up user accounts, play media files, download photos from your camera, go online, set up email, and much more. You'll even learn how to customize Windows 10 to suit the way you work best, troubleshoot and repair common

  10. Windows Terminal Servers Orchestration

    Bukowiec, Sebastian; Gaspar, Ricardo; Smith, Tim

    2017-10-01

    Windows Terminal Servers provide application gateways for various parts of the CERN accelerator complex, used by hundreds of CERN users every day. The combination of new tools such as Puppet, HAProxy and Microsoft System Center suite enable automation of provisioning workflows to provide a terminal server infrastructure that can scale up and down in an automated manner. The orchestration does not only reduce the time and effort necessary to deploy new instances, but also facilitates operations such as patching, analysis and recreation of compromised nodes as well as catering for workload peaks.

  11. Invariant sets for Windows

    Morozov, Albert D; Dragunov, Timothy N; Malysheva, Olga V

    1999-01-01

    This book deals with the visualization and exploration of invariant sets (fractals, strange attractors, resonance structures, patterns etc.) for various kinds of nonlinear dynamical systems. The authors have created a special Windows 95 application called WInSet, which allows one to visualize the invariant sets. A WInSet installation disk is enclosed with the book.The book consists of two parts. Part I contains a description of WInSet and a list of the built-in invariant sets which can be plotted using the program. This part is intended for a wide audience with interests ranging from dynamical

  12. Windows Azure Platform

    Redkar, Tejaswi

    2011-01-01

    The Windows Azure Platform has rapidly established itself as one of the most sophisticated cloud computing platforms available. With Microsoft working to continually update their product and keep it at the cutting edge, the future looks bright - if you have the skills to harness it. In particular, new features such as remote desktop access, dynamic content caching and secure content delivery using SSL make the latest version of Azure a more powerful solution than ever before. It's widely agreed that cloud computing has produced a paradigm shift in traditional architectural concepts by providin

  13. Windows Azure web sites

    Chambers, James

    2013-01-01

    A no-nonsense guide to maintaining websites in Windows Azure If you're looking for a straightforward, practical guide to get Azure websites up and running, then this is the book for you. This to-the-point guide provides you with the tools you need to move and maintain a website in the cloud. You'll discover the features that most affect developers and learn how they can be leveraged to work to your advantage. Accompanying projects enhance your learning experience and help you to walk away with a thorough understanding of Azure's supported technologies, site deployment, and manageme

  14. Handbook on Windows and Energy

    Thomsen, Kirsten Engelund; Schultz, Jørgen Munthe; Svendsen, Sv Aa Højgaard

    The handbook on windows and energy is a general description of windows with the main focus put on the energy performance. Common window products are described by commonly used nomenclature, description of frame and sash conctructions and description of commonly used glazing types.The energy...... transmission through windows is described in detail including radiation, convection and conduction as well as solar transmittance of window glazing. The most used terms related to characterization of window energy performance are defined and calculation methods according to international standards...... flow and detailed calculation of light and solar transmittance is given.Different measurement techniques for characterization of window heat loss coefficient and total solar energy transmittance is described and references to interantional standards are given.Finally, the handbook includes...

  15. Windows with improved energy performances

    Laustsen, Jacob Birck; Svendsen, Svend

    2003-01-01

    Heat loss through windows represents a considerable part of the total heat loss from houses. However, apart from providing daylight access and view, windows offer a unique potential for solar gain to be exploited during the heating season. Until now valuation of the energy performance of windows...... has primary focused on the heat loss coefficient, U-value. However, as the U-value, especially for the glazing part, has improved considerably during the last years, the total solar energy transmittance, g-value, has become equally important to the total energy performance of windows. Improved energy...... resulted in a window with a positive net energy gain (in short the Net Gain Window), which means that it contributes to the space heating of the building. All improvements are based on existing technology and manufacturing methods. The results from this work show that the energy performances of windows can...

  16. Single Family Loan Sale Initiative - National Offering

    Department of Housing and Urban Development — The FHA Office of Housing is conducting a series of mortgage loan sales under the Single Family Loan Sale (SFLS) Initiative. The current sales structure consists of...

  17. Discriminant Analysis of Student Loan Applications

    Dyl, Edward A.; McGann, Anthony F.

    1977-01-01

    The use of discriminant analysis in identifying potentially "good" versus potentially "bad" student loans is explained. The technique is applied to a sample of 200 student loan applications at the University of Wyoming. (LBH)

  18. Financial Management: Emergency Steel Loan Guarantee Program

    2001-01-01

    In a February 1, 2001 letter, you expressed concerns about repayments of federally guaranteed loans by borrowers under the Emergency Steel Loan Guarantee Program and the effect of the program on the U.S. steel industry...

  19. 7 CFR 1718.103 - Loan contract provisions.

    2010-01-01

    ... AGRICULTURE LOAN SECURITY DOCUMENTS FOR ELECTRIC BORROWERS Loan Contracts With Distribution Borrowers § 1718... security for the loan will be reasonably adequate and that the loan will be repaid according to the terms... other provisions as RUS may require to ensure loan repayment and reasonably adequate loan security. ...

  20. 76 FR 60960 - Gulf Opportunity Pilot Loan Program (GO Loan Pilot)

    2011-09-30

    ... SMALL BUSINESS ADMINISTRATION Gulf Opportunity Pilot Loan Program (GO Loan Pilot) AGENCY: U.S.... SUMMARY: This notice announces the extension of SBA's GO Loan Pilot, with modifications, until December 31... processing available through the GO Loan Pilot to small businesses in the eligible parishes/counties through...

  1. 76 FR 30246 - Loan Policies and Operations; Loan Purchases From FDIC

    2011-05-25

    ... FARM CREDIT ADMINISTRATION 12 CFR Part 614 RIN 3052-AC62 Loan Policies and Operations; Loan... Administration (FCA or we) issues this final rule to amend its regulations on loan policies and operations. This... purchase from the Federal Deposit Insurance Corporation (FDIC) loans to farmers, ranchers, producers or...

  2. 75 FR 56487 - Loan Policies and Operations; Loan Purchases From FDIC

    2010-09-16

    ...-AC62 Loan Policies and Operations; Loan Purchases From FDIC AGENCY: Farm Credit Administration. ACTION... authority to purchase from the Federal Deposit Insurance Corporation loans to farmers, ranchers, producers... Federal Deposit Insurance Corporation loans to farmers, ranchers, producers or harvesters of aquatic...

  3. Bank Systemic Risk-Taking and Loan Pricing : Evidence from Syndicated Loans

    Gong, D.

    2014-01-01

    In this paper we document evidence of systemic risk taking from syndicated loan pricing. Using U.S. syndicated loan data, we find that the borrower's idiosyncratic risk is positively priced whereas systematic risk is negatively related to loan spreads, controlling for firm, loan and bank specific

  4. Estimating implied rates of discount in healthcare decision-making.

    West, R R; McNabb, R; Thompson, A G H; Sheldon, T A; Grimley Evans, J

    2003-01-01

    To consider whether implied rates of discounting from the perspectives of individual and society differ, and whether implied rates of discounting in health differ from those implied in choices involving finance or "goods". The study comprised first a review of economics, health economics and social science literature and then an empirical estimate of implied rates of discounting in four fields: personal financial, personal health, public financial and public health, in representative samples of the public and of healthcare professionals. Samples were drawn in the former county and health authority district of South Glamorgan, Wales. The public sample was a representative random sample of men and women, aged over 18 years and drawn from electoral registers. The health professional sample was drawn at random with the cooperation of professional leads to include doctors, nurses, professions allied to medicine, public health, planners and administrators. The literature review revealed few empirical studies in representative samples of the population, few direct comparisons of public with private decision-making and few direct comparisons of health with financial discounting. Implied rates of discounting varied widely and studies suggested that discount rates are higher the smaller the value of the outcome and the shorter the period considered. The relationship between implied discount rates and personal attributes was mixed, possibly reflecting the limited nature of the samples. Although there were few direct comparisons, some studies found that individuals apply different rates of discount to social compared with private comparisons and health compared with financial. The present study also found a wide range of implied discount rates, with little systematic effect of age, gender, educational level or long-term illness. There was evidence, in both samples, that people chose a lower rate of discount in comparisons made on behalf of society than in comparisons made for

  5. Temporal discounting and heart rate reactivity to stress.

    Diller, James W; Patros, Connor H G; Prentice, Paula R

    2011-07-01

    Temporal discounting is the reduction of the value of a reinforcer as a function of increasing delay to its presentation. Impulsive individuals discount delayed consequences more rapidly than self-controlled individuals, and impulsivity has been related to substance abuse, gambling, and other problem behaviors. A growing body of literature has identified biological correlates of impulsivity, though little research to date has examined relations between delay discounting and markers of poor health (e.g., cardiovascular reactivity to stress). We evaluated the relation between one aspect of impulsivity, measured using a computerized temporal discounting task, and heart rate reactivity, measured as a change in heart rate from rest during a serial subtraction task. A linear regression showed that individuals who were more reactive to stress responded more impulsively (i.e., discounted delayed reinforcers more rapidly). When results were stratified by gender, the effect was observed for females, but not for males. This finding supports previous research on gender differences in cardiovascular reactivity and suggests that this type of reactivity may be an important correlate of impulsive behavior. Copyright © 2011 Elsevier B.V. All rights reserved.

  6. Maximizing the Spread of Influence via Generalized Degree Discount.

    Wang, Xiaojie; Zhang, Xue; Zhao, Chengli; Yi, Dongyun

    2016-01-01

    It is a crucial and fundamental issue to identify a small subset of influential spreaders that can control the spreading process in networks. In previous studies, a degree-based heuristic called DegreeDiscount has been shown to effectively identify multiple influential spreaders and has severed as a benchmark method. However, the basic assumption of DegreeDiscount is not adequate, because it treats all the nodes equally without any differences. To consider a general situation in real world networks, a novel heuristic method named GeneralizedDegreeDiscount is proposed in this paper as an effective extension of original method. In our method, the status of a node is defined as a probability of not being influenced by any of its neighbors, and an index generalized discounted degree of one node is presented to measure the expected number of nodes it can influence. Then the spreaders are selected sequentially upon its generalized discounted degree in current network. Empirical experiments are conducted on four real networks, and the results show that the spreaders identified by our approach are more influential than several benchmark methods. Finally, we analyze the relationship between our method and three common degree-based methods.

  7. Description, prescription and the choice of discount rates

    Baum, Seth D.

    2009-01-01

    The choice of discount rates is a key issue in the analysis of long-term societal issues, in particular environmental issues such as climate change. Approaches to choosing discount rates are generally placed into two categories: the descriptive approach and the prescriptive approach. The descriptive approach is often justified on grounds that it uses a description of how society discounts instead of having analysts impose their own discounting views on society. This paper analyzes the common forms of the descriptive and prescriptive approaches and finds that, in contrast with customary thinking, both forms are equally descriptive and prescriptive. The prescriptions concern who has standing (i.e. who is included) in society, how the views of these individuals are measured, and how the measurements are aggregated. Such prescriptions are necessary to choose from among the many possible descriptions of how society discounts. The descriptions are the measurements made given a choice of measurement technique. Thus, the labels 'descriptive approach' and 'prescriptive approach' are deeply misleading, as analysts cannot avoid imposing their own views on society. (author)

  8. Examining weight concern and delay discounting in adolescent females.

    Thamotharan, Sneha; Lange, Krista; Ramos, Ashley; Fields, Sherecce

    2016-04-01

    Pediatric obesity is a growing public health concern that contributes to high rates of negative long-term physical and mental health outcomes. Research focused on identifying risk for pediatric obesity has linked delay discounting, or an inclination for immediate rewards, as well as weight concern to individuals with greater Body Mass Index (BMI). The current study seeks to fill a void in the literature by examining how these two variables interact to promote higher BMI in female adolescents. Adolescent (n=60) females between the ages of 13-19years (mage=17.45, SD=1.74) of age completed the Eating Disorder Examination Questionnaire (EDE-Q) and the Delay Discounting Questionnaire. A mediation model examined whether delay discounting accounted for the relationship between weight concern and BMI. Results indicate that in the current study weight concern was negatively related to delay discounting and delay discounting was negatively related to BMI. The overall model revealed that a partial mediation occurred [b=1.28, t(60)=4.92, pconcerns contribute to greater BMI. Nevertheless, the results indicate that prevention and interventions should identify females with high levels of both weight concern and impulsivity as an increased risk for experiencing pediatric obesity and long-term negative health outcomes. Copyright © 2016 Elsevier Ltd. All rights reserved.

  9. Windows on the axion

    Turner, M.S.

    1989-04-01

    Peccei-Quinn symmetry with attendant axion is a most compelling, and perhaps the most minimal, extension of the standard model, as it provides a very elegant solution to the nagging strong CP-problem associated with the Θ vacuum structure of QCD. However, particle physics gives little guidance as to the axion mass; a priori, the plausible values span the range: 10/sup /minus/12/ eV /approx lt/ m/sub a/ /approx lt/ 10 6 eV, some 18 orders-of-magnitude. Axions have a host of interesting astrophysical and cosmological effects, including, modifying the evolution of stars of all types (our sun, red giants, white dwarfs, and neutron stars), contributing significantly to the mass density of the Universe today, and producing detectable line radiation through the decays of relic axions. Consideration of these effects has probed 14 orders-of-magnitude in axion mass, and has left open only two windows for further exploration: 10/sup /minus/6/ eV /approx lt/ m/sub a/ /approx lt/ 10/sup /minus/3/ eV and 1 eV /approx lt/ m/sub a/ /approx lt/ 5 eV (hadronic axions only). Both these windows are accessible to experiment, and a variety of very interesting experiments, all of which involve ''heavenly axions,'' are being planned or are underway. 58 refs., 6 figs., 1 tab

  10. WINDOW-CLEANING

    Environmental Section / ST-TFM

    2001-01-01

    The two-month window-cleaning session on the Meyrin, Prévessin and LEP sites will soon begin. The cleaning contractors will work from Monday to Saturday, every week from 4.00 a.m. to 8.00 p.m. The work will be organised so as to disturb users as little as possible. In any event, a work notice will be left in each office 24 hours beforehand. To prevent any damage to documents or items which could occur despite the precautions taken, please clear completely the window-sills and the area immediately around them. If, however, for valid reasons, the work cannot be done on the scheduled day, please inform the Environmental Section by telephoning: 73753 / 74233 / 72242 If you are going to be absent during this two-month period, we should be grateful if you would clear the above mentioned areas before your departure. REMINDER To allow more thorough cleaning of the entrance doors to buildings and also facilitate the weekly work of the cleaning contractors, we ask you to make use of the notice boards at the...

  11. Promoting renewables through soft loans

    Marcks, C.

    1999-01-01

    The DtA, founded in 1950s, is a federal institution owned by the German government. It assists the government to implement its economic, environmental and social policy. Financial assistance is being granted mainly through soft loans. Such loans are a flexible instrument, permitting to partially correct prices without severely distorting market forces. They assure total financing while spreading the subsidy over the entire period of the engagement. This avoids windfall opportunities often related to direct subsidies. Investors, therefore, have an intrinsic motivation to only submit sound and profitable projects. (orig./RHM)

  12. 76 FR 5055 - Loan Servicing; Farm Loan Programs

    2011-01-28

    ... suspending interest accrual and offsets, if a borrower has filed a claim of program discrimination that has... claim, including interest accruals and offsets, while the discrimination claim is being resolved. This... 761 Accounting, Loan programs--Agriculture, Rural areas. 7 CFR Part 766 Agriculture, Agricultural...

  13. 7 CFR 771.14 - Loan monitoring.

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan monitoring. 771.14 Section 771.14 Agriculture... SPECIAL PROGRAMS BOLL WEEVIL ERADICATION LOAN PROGRAM § 771.14 Loan monitoring. (a) Annual and periodic... any potential problems or concerns. (b) Performance monitoring. At any time FSA determines it...

  14. Student Loan Default Rates in Minnesota, 2007

    Grimes, Tricia

    2010-01-01

    While Minnesota undergraduates are more likely to take out student loans, they are substantially less likely than their peers nationally to default on federal student loans. Fifty-four percent of Minnesota undergraduates took out student loans in 2007-2008, compared to 39 percent of undergraduates across the U.S. Minnesota undergraduates were also…

  15. 29 CFR 4043.67 - Loan default.

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Loan default. 4043.67 Section 4043.67 Labor Regulations... CERTAIN OTHER NOTIFICATION REQUIREMENTS Advance Notice of Reportable Events § 4043.67 Loan default. (a) Reportable event and information required. Advance notice is required for a loan default, as described in...

  16. 7 CFR 3560.72 - Loan closing.

    2010-01-01

    ... DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS Direct Loan and Grant Origination § 3560.72 Loan closing. (a... all cases, the borrower must: (1) Provide evidence that an Agency-approved accounting system is in... cost of the work performed in connection with the construction contract in accordance with 7 CFR part...

  17. DETERMINANTS OF BUSINESS LOAN DEFAULT IN GHANA

    Akwaa-Sekyi, Ellis Kofi

    2015-05-01

    Full Text Available The initiation, funding, servicing and monitoring of loans by financial intermediaries has been done without regard to some critical factors which could have averted the likelihood of default. The study aimed at measuring the extent that owner-specific, borrower-specific, loan and lender-specific characteristics could determine the probability of loan default. The study used logistic regression for 224 business customers of a bank in Ghana from its nation-wide branches. The study found that owner’s extra income (ownership characteristics, multiple borrowing, diversion of loan purpose (borrower characteristics, loan price, loan purpose, loan age, repayment plan (loan characteristics and underfunding (lender characteristics significantly determined the probability of business loan default. The overall model predicted up to 78.5% of variations in the likelihood of default. The hierarchy of strong determinants given by their odd ratios were loan purpose (47.9 times, underfunding (19.2 times, diversion of loan purpose (11.7 times multiple borrowing (9.4 times and owner’s extra income (8.2 times. The study can conclude that financial intermediaries should be wary of the credit granting process taking cognisance of ownership, borrower, loan and lender characteristics especially the significant predictors. Combining quantitative and qualitative variables as determinants of default could be considered in future.

  18. 11 CFR 100.82 - Bank loans.

    2010-01-01

    ... 11 Federal Elections 1 2010-01-01 2010-01-01 false Bank loans. 100.82 Section 100.82 Federal... Contributions § 100.82 Bank loans. (a) General provisions. A loan of money to a political committee or a candidate by a State bank, a federally chartered depository institution (including a national bank) or a...

  19. 11 CFR 100.142 - Bank loans.

    2010-01-01

    ... 11 Federal Elections 1 2010-01-01 2010-01-01 false Bank loans. 100.142 Section 100.142 Federal... Expenditures § 100.142 Bank loans. (a) General provisions. Repayment of a loan of money to a candidate or a political committee by a State bank, a federally chartered depository institution (including a national bank...

  20. Rules versus discretion in loan rate setting

    Cerqueiro, G.M.; Degryse, H.A.; Ongena, S.

    2011-01-01

    Loan rates for seemingly identical borrowers often exhibit substantial dispersion. This paper investigates the determinants of the dispersion in interest rates on loans granted by banks to small and medium sized enterprises. We associate this dispersion with the loan officers’ use of “discretion” in

  1. 7 CFR 761.8 - Loan Limitations.

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan Limitations. 761.8 Section 761.8 Agriculture... SPECIAL PROGRAMS GENERAL PROGRAM ADMINISTRATION General Provisions § 761.8 Loan Limitations. (a) Dollar... cannot exceed any of the following at the time of loan closing or assumption of indebtedness. If the...

  2. 75 FR 9246 - Cooperative Share Loan Insurance

    2010-03-01

    ... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5376-N-14] Cooperative Share Loan... comments on the subject proposal. New guidance for cooperative housing loan insurance will be published to update existing policies, and better enable mortgagees to submit cooperative share loans for FHA...

  3. Cumulative Student Loan Debt in Minnesota, 2015

    Williams-Wyche, Shaun

    2016-01-01

    To better understand student debt in Minnesota, the Minnesota Office of Higher Education (the Office) gathers information on cumulative student loan debt from Minnesota degree-granting institutions. These data detail the number of students with loans by institution, the cumulative student loan debt incurred at that institution, and the percentage…

  4. 7 CFR 1435.104 - Loan maintenance.

    2010-01-01

    ... quality and quantity as collateral to satisfy the processor's loan indebtedness to CCC. CCC shall not assume any loss in quantity or quality of the loan collateral. (2) The processor is responsible for... and in-process sugar pledged as loan collateral need not be stored identity preserved. (4) When the...

  5. 7 CFR 1951.885 - Loan classifications.

    2010-01-01

    ... classifications is of obvious importance. However, the function of the Substandard classification is to indicate... seasoned loan, a loan must: (1) Have a remaining principal loan balance of two-thirds or less of the... intermediary's operation or an imbalanced position in the balance sheet which has not reached a point that...

  6. 7 CFR 3560.63 - Loan limits.

    2010-01-01

    ... DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS Direct Loan and Grant Origination § 3560.63 Loan limits. (a... Agency will analyze Federal Government and other assistance provided to any MFH project to establish the... differently in a Memorandum of Understanding between the Agency and the state agency that allocates low-income...

  7. Interlibrary Loan Communications Subsystem: Users Manual.

    OCLC Online Computer Library Center, Inc., Dublin, OH.

    The OCLC Interlibrary Loan (ILL) Communications Subsystem provides participating libraries with on-line control of ILL transactions. This user manual includes a glossary of terms related to the procedures in using the system. Sections describe computer entry, searching, loan request form, loan response form, ILL procedures, the special message…

  8. Working with Windows 7 at CERN (EN)

    CERN. Geneva

    2010-01-01

    Overview of new concepts and user interface changes in Windows 7 as compared with older versions of Windows: XP or Vista. Availability of Windows 7 at CERN and its integration with CERN Windows infrastructure will be discussed.

  9. Discount factor in planning decision of electric sector

    Becker, J.L.; Maurer, L.T.A.

    1990-01-01

    Researchers and technicians have been giving a lot of attention to the issue of discount factor in planning in the electric sector. In this paper we review the most important points under consideration, attempting to broaden the discussion and stimulate the creativity of the technicians involved with the sector. There appears to be an emerging consensus that the discount factor to be used must consider the capital costs associated with the main financial sources utilized. The traditional factor of 10% per year must be re-evaluated and augmented, in order to best reflect long range economical and financial conditions. The paper emphasizes the importance of the discount factor to several decisions made within the sector, including energy conservation. Because of the relevance of the topic to Brazil future, we strongly suggest the utilization of sensitivity analysis techniques. (author)

  10. Incentivizing Decentralized Sanitation: The Role of Discount Rates.

    Wood, Alison; Blackhurst, Michael; Garland, Jay L; Lawler, Desmond F

    2016-06-21

    In adoption decisions for decentralized sanitation technologies, two decision makers are involved: the public utility and the individual homeowner. Standard life cycle cost is calculated from the perspective of the utility, which uses a market-based discount rate in these calculations. However, both decision-makers must be considered, including their differing perceptions of the time trade-offs inherent in a stream of costs and benefits. This study uses the discount rate as a proxy for these perceptions and decision-maker preferences. The results in two case studies emphasize the dependence on location of such analyses. Falmouth, Massachusetts, appears to be a good candidate for incentivizing decentralized sanitation while the Allegheny County Sanitary Authority service area in Pennsylvania appears to have no need for similar incentives. This method can be applied to any two-party decision in which the parties are expected to have different discount rates.

  11. Discount rates for social cost benefit analysis of nuclear energy

    Owen, P.A.

    1978-01-01

    The question that this paper addresses is how decisions affecting many citizens should be made when there are uncertain outcomes in the distant future. By distant is meant beyond the lifetimes of individuals alive now. Thus the proposed methodology would apply to many decisions in nuclear energy from the investment in new energy sources such as fusion, to the long-term storage of wastes. Decisions of this type have usually been analyzed using cost benefit analysis. In this case, future outcomes are discounted at the so-called social discount rate. By comparison, the proposed methodology uses information on individual citizen's preferences and willingness to pay to make a future generation better off. The connection between the proposed approach and more traditional discounting techniques is examined using the government decision about storing helium for the future as an example

  12. Designing a Decision Support System (DSS for Supplier Selection in Multiple Discount Environment

    Marzieh Shahrezaee

    2012-09-01

    Full Text Available This research aims at developing original components of Decision Support System (DSS in order to support the evaluation and selection of suppliers in multi products having limited capacity. To achieve this purpose, researchers have proposed three different models based on which suppliers allow selecting their own desired type of discount. Firstly based on the performed studies, some criteria have been suggested for evaluating the suppliers’ capability. These criteria will be selected by the buyer with respect to the purchase condition and type of the industry, and their importance level will be determined. Then based on multi-criteria decision models, evaluation of all the suppliers will be done. In this study fuzzy numbers are applied so as to translate qualitative criteria into quantitative one. Suppliers have been ranked according to the scores they have gained and the selection share of each from the whole quantity has been determined based on the multi-objective mathematical model. The existing model has exerted practical ways such as taking loans with determined interest as well as certain variables in order to compensate the shortage of budget the buyer encounters with. Outputs, which are, the selective suppliers and orders assigned to each of them are also to be considered by using Genetic Algorithm in MATLAB software for three parts in Emersan Company accordingly.

  13. 78 FR 45617 - Student Assistance General Provisions, Federal Perkins Loan Program, Federal Family Education...

    2013-07-29

    ..., et al. Student Assistance General Provisions, Federal Perkins Loan Program, Federal Family Education... General Provisions, Federal Perkins Loan Program, Federal Family Education Loan Program, and William D... General Provisions, Federal Perkins Loan (Perkins Loan) Program, Federal Family Education Loan (FFEL...

  14. Dynamical instabilities in a simple minority game with discounting

    Challet, D; De Martino, A; Marsili, M

    2008-01-01

    We explore the effect of discounting and experimentation in a simple model of interacting adaptive agents. Agents belong to either of two types and each has to decide whether to participate in a game or not, the game being profitable when there is an excess of players of the other type. We find the emergence of large fluctuations as a result of the onset of a dynamical instability which may arise discontinuously (increasing the discount factor) or continuously (decreasing the experimentation rate). The phase diagram is characterized in detail and noise amplification close to a bifurcation point is identified as the physical mechanism behind the instability. (letter)

  15. Life Insurance and Annuity Demand under Hyperbolic Discounting

    Siqi Tang

    2018-04-01

    Full Text Available In this paper, we analyse and construct a lifetime utility maximisation model with hyperbolic discounting. Within the model, a number of assumptions are made: complete markets, actuarially fair life insurance/annuity is available, and investors have time-dependent preferences. Time dependent preferences are in contrast to the usual case of constant preferences (exponential discounting. We find: (1 investors (realistically demand more life insurance after retirement (in contrast to the standard model, which showed strong demand for life annuities, and annuities are rarely purchased; (2 optimal consumption paths exhibit a humped shape (which is usually only found in incomplete markets under the assumptions of the standard model.

  16. Window observers for linear systems

    Utkin Vadim

    2000-01-01

    Full Text Available Given a linear system x ˙ = A x + B u with output y = C x and a window function ω ( t , i.e., ∀ t , ω ( t ∈ {0,1 }, and assuming that the window function is Lebesgue measurable, we refer to the following observer, x ˆ = A x + B u + ω ( t L C ( x − x ˆ as a window observer. The stability issue is treated in this paper. It is proven that for linear time-invariant systems, the window observer can be stabilized by an appropriate design under a very mild condition on the window functions, albeit for linear time-varying system, some regularity of the window functions is required to achieve observer designs with the asymptotic stability. The corresponding design methods are developed. An example is included to illustrate the possible applications

  17. Deposit competition and loan markets

    Arping, S.

    Less-intense competition for deposits, by mitigating banks’ incentive to take excessive risks, is traditionally believed to lead to lower non-performing loan (NPL) ratios and more-stable banks. This paper revisits this proposition in a model with borrower moral hazard in which banks’ NPL ratios

  18. Microcomputers: An Interlibrary Loan Application.

    Evans, Elizabeth A.

    1984-01-01

    Description of a microcomputer-based system for local processing of interlibrary loan (ILL) requests developed at Environmental Protection Agency library discusses database management systems, hardware, databases, and command files. Subsequent changes resulting from system's implementation at East Carolina University Health Sciences Library are…

  19. Bank Consolidation and Consumer Loan Interest Rates

    Charles Kahn; George Pennacchi; Ben Sopranzetti

    2001-01-01

    The recent wave of bank mergers has raised concern with its effect on competition. This paper examines the influence of concentration and merger activity on consumer loan interest rates. It uses Bank Rate Monitor, Inc. survey data on loan rates quoted weekly by large commercial banks in ten major U.S. cities during the 1989 to 1997 period. The pricing behavior of banks is analyzed for two types of loans: new automobile loans and unsecured personal loans. Market concentration is found to have ...

  20. Concordance between monetary and sexual delay discounting in men who have sex with men.

    Jones, Jeb; Guest, Jodie L; Sullivan, Patrick S; Kramer, Michael R; Jenness, Samuel M; Sales, Jessica M

    2017-12-07

    Background: Delay discounting has been found to be associated with numerous health-related outcomes, including risky sexual behaviour. To date, it is unclear whether delay discounting measured in different domains is associated within individuals. The goal of this study was to assess the concordance of monetary and sexual delay discounting in men who have sex with men. Methods: Participants completed an online survey, including the Monetary Choice Questionnaire and the Sexual Discounting Task. Linear regression models were used to assess the association between monetary and sexual discount rates. Results: Sexual discount rates did not predict monetary discount rates. There was a substantial amount of clustering of sexual discount rates, requiring sexual discounting data to be categorised. Conclusions: Monetary and sexual delay discounting are distinct processes that are not necessarily associated within individuals, and monetary delay discounting is not an appropriate proxy measure for sexual impulsivity. Data from the Sexual Discounting Task are typically rank-transformed for analysis. These data suggest that this might be an invalid method of analysis. Future studies should investigate the distribution of their data to determine if it is appropriate to analyse sexual discounting data as a continuous measure.

  1. Windows 7 the definitive guide

    Stanek, William R

    2010-01-01

    This book provides everything you need to manage and maintain Windows 7. You'll learn all of the features and enhancements in complete detail, along with specifics for configuring the operating system to put you in full control. Bestselling author and Windows expert William Stanek doesn't just show you the steps you need to follow, he also tells you how features work, why they work, and how you can customize them to meet your needs. Learn how to squeeze every bit of power out of Windows 7 to take full advantage of its features and programs. Set up, customize, and tune Windows 7-Optimize its

  2. Windows 7 The Missing Manual

    Pogue, David

    2010-01-01

    In early reviews, geeks raved about Windows 7. But if you're an ordinary mortal, learning what this new system is all about will be challenging. Fear not: David Pogue's Windows 7: The Missing Manual comes to the rescue. Like its predecessors, this book illuminates its subject with reader-friendly insight, plenty of wit, and hardnosed objectivity for beginners as well as veteran PC users. Windows 7 fixes many of Vista's most painful shortcomings. It's speedier, has fewer intrusive and nagging screens, and is more compatible with peripherals. Plus, Windows 7 introduces a slew of new features,

  3. Microsoft Windows Operating System Essentials

    Carpenter, Tom

    2012-01-01

    A full-color guide to key Windows 7 administration concepts and topics Windows 7 is the leading desktop software, yet it can be a difficult concept to grasp, especially for those new to the field of IT. Microsoft Windows Operating System Essentials is an ideal resource for anyone new to computer administration and looking for a career in computers. Delving into areas such as fundamental Windows 7 administration concepts and various desktop OS topics, this full-color book addresses the skills necessary for individuals looking to break into a career in IT. Each chapter begins with a list of topi

  4. Beginning Windows 8.1

    Halsey, Mike

    2013-01-01

    Windows 8 has been described by Microsoft as its 'boldest' Windows release ever and the 8.1 update enhances the paradigm further. Beginning Windows 8.1 takes you through the new features and helps you get more out of the familiar to reveal the fullest possibilities for this amazing new operating system. You will learn, with non-technical language used throughout, how to get up and running in the new Windows interface, minimize downtime, maximize productivity, and harness the features you never knew existed to take control of your computer and enjoy the peace of mind and excitement that comes w

  5. Live histograms in moving windows

    Zhil'tsov, V.E.

    1989-01-01

    Application of computer graphics for specific hardware testing is discussed. The hardware is position sensitive detector (multiwire proportional chamber) which is used in high energy physics experiments, and real-out electronics for it. Testing program is described (XPERT), which utilises multi-window user interface. Data are represented as histograms in windows. The windows on the screen may be moved, reordered, their sizes may be changed. Histograms may be put to any window, and hardcopy may be made. Some program internals are discussed. The computer environment is quite simple: MS-DOS IBM PC/XT, 256 KB RAM, CGA, 5.25'' FD, Epson MX. 4 refs.; 7 figs

  6. Windows forensic analysis toolkit advanced analysis techniques for Windows 7

    Carvey, Harlan

    2012-01-01

    Now in its third edition, Harlan Carvey has updated "Windows Forensic Analysis Toolkit" to cover Windows 7 systems. The primary focus of this edition is on analyzing Windows 7 systems and on processes using free and open-source tools. The book covers live response, file analysis, malware detection, timeline, and much more. The author presents real-life experiences from the trenches, making the material realistic and showing the why behind the how. New to this edition, the companion and toolkit materials are now hosted online. This material consists of electronic printable checklists, cheat sheets, free custom tools, and walk-through demos. This edition complements "Windows Forensic Analysis Toolkit, 2nd Edition", (ISBN: 9781597494229), which focuses primarily on XP. It includes complete coverage and examples on Windows 7 systems. It contains Lessons from the Field, Case Studies, and War Stories. It features companion online material, including electronic printable checklists, cheat sheets, free custom tools, ...

  7. Delay discounting as a function of intrinsic/extrinsic religiousness, religious fundamentalism, and regular church attendance.

    Weatherly, Jeffrey N; Plumm, Karyn M

    2012-01-01

    Delay discounting occurs when the subjective value of an outcome decreases because its delivery is delayed. Previous research has suggested that the rate at which some, but not all, outcomes are discounted varies as a function of regular church attendance. In the present study, 509 participants completed measures of intrinsic religiousness, extrinsic religiousness, religious fundamentalism, and whether they regularly attended church services. They then completed a delay-discounting task involving five outcomes. Although religiousness was not a significant predictor of discounting for all outcomes, participants scoring high in intrinsic religiousness tended to display less delay discounting than participants scoring low. Likewise, participants scoring high in religious fundamentalism tended to display more delay discounting than participants scoring low. These results partially replicate previous ones in showing that the process of discounting may vary as a function of religiousness. The results also provide some direction for those interested in altering how individuals discount.

  8. Learning Windows Azure Mobile Services for Windows 8 and Windows Phone 8

    Webber-Cross, Geoff

    2014-01-01

    This book is based around a case study game which was written for the book. This means that the chapters progress in a logical way and build upon lessons learned as we go. Real-world examples are provided for each topic that are practical and not given out-of-context so they can be applied directly to other applications.If you are a developer who wishes to build Windows 8 and Phone 8 applications and integrate them with Windows Azure Mobile Services, this book is for you. Basic C# and JavaScript skills are advantageous, as well as some knowledge of building Windows 8 or Windows Phone 8 applica

  9. A comparison of probability of ruin and expected discounted utility ...

    Individuals in defined-contribution retirement funds currently have a number of options as to how to finance their post-retirement spending. The paper considers the ranking of selected annuitisation strategies by the probability of ruin and by expected discounted utility under different scenarios. 'Ruin' is defined as occurring ...

  10. Deriving the Dividend Discount Model in the Intermediate Microeconomics Class

    Norman, Stephen; Schlaudraff, Jonathan; White, Karianne; Wills, Douglas

    2013-01-01

    In this article, the authors show that the dividend discount model can be derived using the basic intertemporal consumption model that is introduced in a typical intermediate microeconomics course. This result will be of use to instructors who teach microeconomics to finance students in that it demonstrates the value of utility maximization in…

  11. Age Differences in Future Orientation and Delay Discounting

    Steinberg, Laurence; Graham, Sandra; O'Brien, Lia; Woolard, Jennifer; Cauffman, Elizabeth; Banich, Marie

    2009-01-01

    Age differences in future orientation are examined in a sample of 935 individuals between 10 and 30 years using a delay discounting task as well as a new self-report measure. Younger adolescents consistently demonstrate a weaker orientation to the future than do individuals aged 16 and older, as reflected in their greater willingness to accept a…

  12. MODERN INDICATORS DERIVED FROM VALUE CREATION AND DISCOUNTED

    Cican Simona

    2013-07-01

    In this article, we will present the connection between discounted cash flow methods and the indicators derived from value creation, based on the business finance theory, which says that firm value will increase if projects with positive net present value are accepted, while it will be destroyed if projects with negative net present value are accepted.

  13. Implicit individual discount rate in China: A contingent valuation study.

    Wang, Hua; He, Jie

    2018-03-15

    Two contingent valuation (CV) surveys were conducted in Kunming, China, to estimate households' willingness to pay (WTP) for the Panlong River rehabilitation project. The two surveys were conducted using the same procedures and questionnaires except for the payment schedule arrangements, which permitted a calculation of respondents' implicit discount rate. The surveys provided two estimates of WTP, one with a mean of 23 Yuan in monthly payment over 5 years and the other with a mean of 311 Yuan in a lump-sum payment that will cover all the expenses for a period of 5 years. The results produce an estimate of monthly discount rate of 7.6%-12.6% or annual discount rate of 141-315%. The estimates are higher than that reported from those studies conducted in the U.S., but are compatible with that of some other studies. This study also shows that both mean individual WTP and implicit individual discount rates are closely related to household demographic and economic characteristics and environment-related perceptions, as reported in the studies conducted in other countries. Copyright © 2017 Elsevier Ltd. All rights reserved.

  14. Relation between Time Perspective and Delay Discounting: A Literature Review

    Teuscher, Ursina; Mitchell, Suzanne H.

    2011-01-01

    In this article, we examine the relation between delay discounting and future time perspective by reviewing how these concepts have been measured and quantified in order to assess their conceptual similarities. The extent to which the different measures are empirically related is reviewed by describing studies that have assessed both constructs…

  15. Global warming: discounting is not the issue, but substitutability is

    Neumayer, E.

    1999-01-01

    The cost-benefit study of Nordhaus (1994) is representative for the neoclassical approach towards global warming. Nordhaus found that no substantial emission cuts are warranted. Most of his critics have concentrated on the issue of discounting and demanded that a lower discount rate should be applied. These criticisms first miss the point and second lead to ethically dubious, inconsistent conclusions and inefficient policy choices. They miss the point because the real problem of Nordhaus's methodology is his implicit underlying assumption of perfect substitutability between natural and other forms of capital. Given the validity of this assumption, lowering the rate of discount is inconsistent with current savings behaviour, is ethically dubious because future generations will be much richer than the current one anyway, and is inefficient because scarce financial resources are channelled into emissions abatement that exhibits rates of return far inferior to alternative public investments. Any call for aggressive emission abatement must therefore directly attack the perfect substitutability assumption of neoclassical economics. The real disagreement is about whether consumption growth can compensate for environmental degradation caused by global warming. Discounting is not the issue, but substitutability is. (author)

  16. Gender-Specific Effects of Cognitive Load on Social Discounting.

    Strombach, Tina; Margittai, Zsofia; Gorczyca, Barbara; Kalenscher, Tobias

    2016-01-01

    We live busy, social lives, and meeting the challenges of our complex environments puts strain on our cognitive systems. However, cognitive resources are limited. It is unclear how cognitive load affects social decision making. Previous findings on the effects of cognitive load on other-regarding preferences have been ambiguous, allowing no coherent opinion whether cognitive load increases, decreases or does not affect prosocial considerations. Here, we suggest that social distance between individuals modulates whether generosity towards a recipient increases or decreases under cognitive load conditions. Participants played a financial social discounting task with several recipients at variable social distance levels. In this task, they could choose between generous alternatives, yielding medium financial rewards for the participant and recipient at variable social distances, or between a selfish alternative, yielding larger rewards for the participant alone. We show that the social discount function of male participants was significantly flattened under high cognitive load conditions, suggesting they distinguished less between socially close and socially distant recipients. Unexpectedly, the cognitive-load effect on social discounting was gender-specific: while social discounting was strongly dependent on cognitive load in men, women were nearly unaffected by cognitive load manipulations. We suggest that cognitive load leads men, but not women to simplify the decision problem by neglecting the social distance information. We consider our study a good starting point for further experiments exploring the role of gender in prosocial choice.

  17. Market and Impact Study Setting Up MMX Discount Store

    Sabina Irimie; Andreea Ionică; Virginia Băleanu; Cristina Osvath

    2008-01-01

    The paper is focused on the following elements of the impact study’s content: social and economic features of the area and the social, economic and commercial impact. Currently we witness the materialisation of the research’s results by setting up such a store MMX DISCOUNT in the town of Vulcan from the Jiu Valley

  18. College Students Discount Money "Won" More than Money "Owed"

    Weatherly, Jeffrey N.; Derenne, Adam; Terrell, Heather K.

    2010-01-01

    Evidence in the research literature indicates people may treat "won" money differently than they would their own money. The present study had a sample of 648 college students complete a delay-discounting task that involved the hypothetical monetary amounts of $1,000 or $100,000. Participants were asked repeatedly what amount they would…

  19. Maximizing the model for Discounted Stream of Utility from ...

    Osagiede et al. (2009) considered an analytic model for maximizing discounted stream of utility from consumption when the rate of production is linear. A solution was provided to a level where methods of solving order differential equations will be applied, but they left off there, as a result of the mathematical complexity ...

  20. Special discount to the members of the Staff Association

    Association du personnel

    2012-01-01

    FNAC 5% discount on gifts card available in four Swiss shops without any restriction. Gifts card on sale to the Staff Association Secretariat. TPG 50 CHF discount on annual subscriptions. Subscription « tout Genève » for adult: 650 CHF; for junior: 400 CHF. On sale to the Staff Association Secretariat. Théâtre de Carouge Discount of 5.-CHF for all shows (30.– CHF instead of 35.-CHF) and on season tickets « first performance » ( 132.– CHF instead 162.– CHF) and also on « classical » ( 150.– CHF instead of 180.– CHF) upon presentation of your Staff Association membership card before payment. Aquaparc Discounted prices on admission of whole day. Children from 5 to 15 years: 30.-CHF instead of 39.-CHF; Adults from 16 years: 36.-CHF instead of 49.-CHF. Tickets on sale to the Staff Association Secretariat. Go Sport 15% off on all purchases in the whole shop upon present...

  1. Pension Fund Asset Allocation and Liability Discount Rates

    Andonov, Aleksandar; Bauer, Rob; Cremers, Martijn

    2017-01-01

    The unique regulation of U.S. public pension funds links their liability discount rate to the expected return on assets, which gives them incentives to invest more in risky assets in order to report a better funding status. Comparing public and private pension funds in the United States, Canada, and

  2. An Examination of The Transdiagnostic Role of Delay Discounting in Psychological Inflexibility and Mental Health Problems

    Levin, Michael; Haeger, Jack; Ong, Clarissa W.; Twohig, Michael P.

    2018-01-01

    Delay discounting is a basic behavioral process that has been found to predict addictive behaviors, and more recently, other mental health problems. Acceptance and Commitment Therapy (ACT), is a transdiagnostic treatment that appears to alter delay discounting, possibly through reducing psychological inflexibility. The current study sought to further bridge research on delay discounting and ACT by examining the relation of delay discounting to a broad range of selfreported mental health probl...

  3. Tariff-Mediated Network Effects versus Strategic Discounting: Evidence from German Mobile Telecommunications

    Zucchini, Leon; Claussen, Jörg; Trüg, Moritz

    2013-01-01

    Mobile telecommunication operators routinely charge subscribers lower prices for calls on their own network than for calls to other networks (on-net discounts). Studies on tariff-mediated network effects suggest this is due to large operators using on-net discounts to damage smaller rivals. Alternatively, research on strategic discounting suggests small operators use on-net discounts to advertise with low on-net prices. We test the relative strength of these effects using data on tariff setti...

  4. Rootkit pro MS Windows

    Trutman, Michal

    2012-01-01

    Tato bakalářská práce se zabývá metodami útoků na operační systém MS Windows a přibližuje techniky skrývání výpočetních prostředků používané existujícími rootkity. Práce je rozdělena na teoretickou a praktickou část. První část pojednává o klasifikaci rootkitů, představuje strukturu jádra systému a následně popisuje jednotlivé techniky napadení operačního systému. V praktické části je prezentována implementace a testování vlastního rootkitu. This bachelor's thesis deals with methods of att...

  5. Destiny's Earth Observation Window

    2002-01-01

    Astronaut Michael J. Bloomfield, STS-110 mission commander, looks through the Earth observation window in the Destiny laboratory aboard the International Space Station (ISS). The STS-110 mission prepared the ISS for future spacewalks by installing and outfitting the S0 (S-zero) truss and the Mobile Transporter. The 43-foot-long S0 Truss, weighing in at 27,000 pounds, was the first of 9 segments that will make up the Station's external framework that will eventually stretch 356 feet (109 meters), or approximately the length of a football field. This central truss segment also includes a flatcar called the Mobile Transporter and rails that will become the first 'space railroad,' which will allow the Station's robotic arm to travel up and down the finished truss for future assembly and maintenance. The completed truss structure will hold solar arrays and radiators to provide power and cooling for additional international research laboratories from Japan and Europe that will be attached to the Station. Milestones of the STS-110 mission included the first time the ISS robotic arm was used to maneuver spacewalkers around the Station and marked the first time all spacewalks were based out of the Station's Quest Airlock. It was also the first Shuttle to use three Block II Main Engines. The Space Shuttle Orbiter Atlantis, STS-110 mission, was launched April 8, 2002 and returned to Earth April 19, 2002.

  6. Window prototypes during the project

    Schultz, Jørgen Munthe

    1996-01-01

    The conditions for the PASSYS test and the results of the measurements on one of the aerogel window prototypes are described.......The conditions for the PASSYS test and the results of the measurements on one of the aerogel window prototypes are described....

  7. Improved Windows for Cold Climates

    Laustsen, Jacob Birck; Svendsen, Svend

    2005-01-01

    considerably by reducing the frame width, which results in a larger transparent area causing a larger solar gain but still main-taining a low thermal transmittance. Using three layers of glass with large gaps, using very slim frame profiles, and omitting the edge constructions that normally causes thermal...... windows with improved energy performance. Traditionally evaluation of the energy performance of windows has focused on the thermal transmittance, but as windows differ from the rest of the building envelope by allowing solar energy to enter the building, the total solar energy transmittance is equally...... important. In the heating season in cold climates the solar gain through windows can be utilized for space heating which results in a corresponding reduction in the energy production that is often based on fossil fuels. A suitable quantity for evaluating the energy performance of windows in a simple...

  8. 78 FR 67393 - Change in Discount Rate for Water Resources Planning

    2013-11-12

    ... Discount Rate for Water Resources Planning AGENCY: Bureau of Reclamation, Interior. ACTION: Notice of change. SUMMARY: The Water Resources Planning Act of 1965 and the Water Resources Development Act of 1974 require an annual determination of a discount rate for Federal water resources planning. The discount rate...

  9. Discounting in the evaluation of the cost-effectiveness of a vaccination programme: A critical review.

    Jit, Mark; Mibei, Walter

    2015-07-31

    Discounting future costs and health benefits usually has a large effect on results of cost-effectiveness evaluations of vaccination because of delays between the initial expenditure in the programme and the health benefits from averting disease. Most guidelines currently recommend discounting both costs and health effects at a positive, constant, common rate back to a common point in time. A review of 84 published economic evaluations of vaccines found that most of them apply these recommendations. However, both technical and normative arguments have been presented for discounting health at a different rate to consumption (differential discounting), discounting at a rate that changes over time (non-constant discounting), discounting intra-generational and inter-generational effects at a different rate (two-stage discounting), and discounting the health gains from an intervention to a different discount year from the time of intervention (delayed discounting). These considerations are particularly acute for vaccines, because their effects can occur in a different generation from the one paying for them, and because the time of vaccination, of infection aversion, and of disease aversion usually differ. Using differential, two-stage or delayed discounting in model-based cost-effectiveness evaluations of vaccination raises technical challenges, but mechanisms have been proposed to overcome them. Copyright © 2015 The Authors. Published by Elsevier Ltd.. All rights reserved.

  10. On the Relation between Discounting of Climate Change and Edgeworth-Pareto Substitutability

    Kögel, M.T.

    2009-01-01

    To justify substantial carbon emission reductions, recent literature on cost-benefit analysis of climate change suggests discounting environmental quality at a lower discount rate than the standard consumption discount rate. Recent literature also shows that a theoretical foundation for such a lower

  11. 31 CFR 356.21 - How are awards at the high yield or discount rate calculated?

    2010-07-01

    ... discount rate calculated? 356.21 Section 356.21 Money and Finance: Treasury Regulations Relating to Money... high yield or discount rate calculated? (a) Awards to submitters. We generally prorate bids at the highest accepted yield or discount rate under § 356.20(a)(2) of this part. For example, if 80.15% is the...

  12. Cash Flow and Discount Rate Risk in Up and Down Markets: What is actually priced?

    Botshekan, M.; Kraeussl, R.G.W.; Lucas, A.

    2012-01-01

    We test whether asymmetric preferences for losses versus gains affect the prices of cash flow versus discount rate risk. We construct a return decomposition distinguishing cash flow and discount rate betas in up and down markets. Using U.S. data, we find that downside cash flow and discount rate

  13. IREDA guidelines for loan assistance

    Anon.

    1992-01-01

    Indian Renewable Energy Development Agency Ltd. (IREDA) is a public sector undertaking of the Government of India. It was established in 1987 and works under Department of Non-Conventional Energy Sources (DNES). Its functions are to promote, develop and finance new and renewable sources of energy (NRSE). Guidelines for loan assistance from IREDA for different renewable energy sources are given. (M.G.B.)

  14. Gender and banking : Are women better loan officers?

    Beck, T.H.L.; Behr, P.; Guttler, A.

    2013-01-01

    Using a unique data set for a commercial bank in Albania, we analyze gender differences in loan officers’ performance. Loans screened and monitored by female loan officers have a lower likelihood to turn problematic than loans handled by male loan officers. This effect cannot be explained by

  15. 24 CFR 201.40 - Post-disbursement loan requirements.

    2010-04-01

    ...-disbursement loan requirements. (a) Discovery of misstatements of fact. If, after a loan has been made, the lender discovers any material misstatement of fact or that the loan proceeds have been misused by the... insurance of the loan shall not be affected unless such material misstatement of fact or misuse of loan...

  16. 7 CFR 1927.56 - Scheduling loan closing.

    2010-01-01

    ... REGULATIONS TITLE CLEARANCE AND LOAN CLOSING Real Estate Title Clearance and Loan Closing § 1927.56 Scheduling loan closing. The agency, in coordination with the closing agent, will arrange a loan closing and send loan closing instructions, on an agency form to the closing agent when the agency determines that the...

  17. 12 CFR 614.4470 - Loans subject to bank approval.

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Loans subject to bank approval. 614.4470 Section 614.4470 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Loan Approval Requirements § 614.4470 Loans subject to bank approval. (a) The following loans...

  18. 7 CFR 1744.63 - The telephone loan budget.

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false The telephone loan budget. 1744.63 Section 1744.63... Disbursement of Funds § 1744.63 The telephone loan budget. When the loan is made, RUS provides the borrower a Telephone Loan Budget, RUS Form 493. This budget divides the loan into budget accounts such as “Engineering...

  19. 13 CFR 120.315 - Interest rate and loan limit.

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Interest rate and loan limit. 120... Special Purpose Loans Disabled Assistance Loan Program (dal) § 120.315 Interest rate and loan limit. The interest rate on direct DAL loans is three percent. There is an administrative limit of $150,000 on a...

  20. 42 CFR 57.1510 - Security for loans.

    2010-10-01

    ... 42 Public Health 1 2010-10-01 2010-10-01 false Security for loans. 57.1510 Section 57.1510 Public... Security for loans. Each loan with respect to which a guarantee is made or interest subsidies are paid... TEACHING FACILITIES, EDUCATIONAL IMPROVEMENTS, SCHOLARSHIPS AND STUDENT LOANS Loan Guarantees and Interest...

  1. 24 CFR 201.51 - Proceeding against the loan security.

    2010-04-01

    ....51 Proceeding against the loan security. (a) Property improvement loans. (1) After acceleration of maturity on a secured property improvement loan, the lender may either proceed against the loan security... proceeds against the loan security, it may submit an insurance claim only if it complies with the...

  2. 7 CFR 1735.46 - Loan security documents.

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan security documents. 1735.46 Section 1735.46... § 1735.46 Loan security documents. (a) Loans are to be repaid according to their terms. RUS generally... subordinations. (b) Loan security documents of borrowers with loans approved after October 6, 1997 will provide...

  3. 7 CFR 1718.104 - Availability of model loan contract.

    2010-01-01

    ..., DEPARTMENT OF AGRICULTURE LOAN SECURITY DOCUMENTS FOR ELECTRIC BORROWERS Loan Contracts With Distribution Borrowers § 1718.104 Availability of model loan contract. Single copies of the model loan contract (RUS... 7 Agriculture 11 2010-01-01 2010-01-01 false Availability of model loan contract. 1718.104 Section...

  4. 7 CFR 1427.170 - Quantity for loan.

    2010-01-01

    ... to the preservation or safety of the loan collateral. Loans may be made on a lower percentage basis... 7 Agriculture 10 2010-01-01 2010-01-01 false Quantity for loan. 1427.170 Section 1427.170... OF AGRICULTURE LOANS, PURCHASES, AND OTHER OPERATIONS COTTON Recourse Seed Cotton Loans § 1427.170...

  5. Tokamak physics experiment: Diagnostic windows study

    Merrigan, M.; Wurden, G.A.

    1995-11-01

    We detail the study of diagnostic windows and window thermal stress remediation in the long-pulse, high-power Tokamak Physics Experiment (TPX) operation. The operating environment of the TPX diagnostic windows is reviewed, thermal loads on the windows estimated, and cooling requirements for the windows considered. Applicable window-cooling technology from other fields is reviewed and its application to the TPX windows considered. Methods for TPX window thermal conditioning are recommended, with some discussion of potential implementation problems provided. Recommendations for further research and development work to ensure performance of windows in the TPX system are presented

  6. HUD PowerSaver Pilot Loan Program

    Zimring, Mark [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Hoffman, Ian [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2010-12-10

    The U.S. Department of Housing and Urban Development (HUD) recently announced the creation of a pilot loan program for home energy improvements. The PowerSaver loan program is a new, energy-focused variant of the Title I Property Improvement Loan Insurance Program (Title I Program) and is planned for introduction in early 2011. The PowerSaver pilot will provide lender insurance for secured and unsecured loans up to $25,000 to single family homeowners. These loans will specifically target residential energy efficiency and renewable energy improvements. HUD estimates the two-year pilot will fund approximately 24,000 loans worth up to $300 million; the program is not capped. The Federal Housing Administration (FHA), HUD's mortgage insurance unit, will provide up to $25 million in grants as incentives to participating lenders. FHA is seeking lenders in communities with existing programs for promoting residential energy upgrades.

  7. 77 FR 42085 - Federal Perkins Loan Program, Federal Family Education Loan Program, and William D. Ford Federal...

    2012-07-17

    ... borrower's loans if the borrower receives a disbursement of a new title IV loan or receives a new TEACH... proposed regulations for programs authorized by title IV of the HEA, to obtain public involvement in the...-defaulted Direct Loan, except for a parent Direct PLUS loan or a Direct Consolidation loan that repaid a...

  8. 77 FR 66087 - Federal Perkins Loan Program, Federal Family Education Loan Program, and William D. Ford Federal...

    2012-11-01

    ..., and 685 Federal Perkins Loan Program, Federal Family Education Loan Program, and William D. Ford... 685 RIN 1840-AD05 [Docket ID ED-2012-OPE-0010] Federal Perkins Loan Program, Federal Family Education... (Perkins Loan) program, Federal Family Education Loan (FFEL) program, and William D. Ford Federal Direct...

  9. Benefit assessment in Germany: implications for price discounts.

    Theidel, Ulrike; von der Schulenburg, J-Matthias Graf

    2016-12-01

    The AMNOG regulation, introduced in 2011 in Germany, changed the game for new drugs. Now, the industry is required to submit a dossier to the GBA (the central decision body in the German sickness fund system) to show additional benefit. After granting the magnitude of the additional benefit by the GBA, the manufacturer is entitled to negotiate the reimbursement price with the GKV-SV (National Association of Statutory Health Insurance Funds). The reimbursement price is defined as a discount on the drug price at launch. As the price or discount negotiations between the manufacturers and the GKV-SV takes place behind closed doors, the factors influencing the results of the negotiation are not known. The aim of this evaluation is to identify factors influencing the results of the AMNOG price negotiation process. The analysis was based on a dataset containing detailed information on all assessments until the end of 2015. A descriptive analysis was followed by an econometric analysis of various potential factors (benefit rating, size of target population, deviating from appropriate comparative therapy and incorporation of HRQoL-data). Until December 2015, manufacturers and the GKV-SV finalized 96 negotiations in 193 therapeutic areas, based on assessment conducted by the GBA. The GBA has granted an additional benefit to 100/193 drug innovations. Negotiated discount was significantly higher for those drugs without additional benefit (p = 0.030) and non-orphan drugs (p = 0.015). Smaller population size, no deviation from recommended appropriate comparative therapy and the incorporation of HRQoL-data were associated with a lower discount on the price at launch. However, neither a uni- nor the multivariate linear regression showed enough power to predict the final discount. Although the AMNOG regulation implemented binding and strict rules for the benefit assessment itself, the outcome of the discount negotiations are still unpredictable. Obviously, negotiation

  10. Transparent solar cell window module

    Chau, Joseph Lik Hang; Chen, Ruei-Tang; Hwang, Gan-Lin; Tsai, Ping-Yuan [Nanopowder and Thin Film Technology Center, ITRI South, Industrial Technology Research Institute, Tainan County 709 (China); Lin, Chien-Chu [I-Lai Acrylic Corporation, Tainan City (China)

    2010-03-15

    A transparent solar cell window module based on the integration of traditional silicon solar cells and organic-inorganic nanocomposite material was designed and fabricated. The transparent solar cell window module was composed of a nanocomposite light-guide plate and traditional silicon solar cells. The preparation of the nanocomposite light-guide plate is easy without modification of the traditional casting process, the nanoparticles sol can be added directly to the polymethyl methacrylate (PMMA) monomer syrup during the process. The solar energy collected by this window can be used to power up small household electrical appliances. (author)

  11. Big Book of Windows Hacks

    Gralla, Preston

    2008-01-01

    Bigger, better, and broader in scope, the Big Book of Windows Hacks gives you everything you need to get the most out of your Windows Vista or XP system, including its related applications and the hardware it runs on or connects to. Whether you want to tweak Vista's Aero interface, build customized sidebar gadgets and run them from a USB key, or hack the "unhackable" screensavers, you'll find quick and ingenious ways to bend these recalcitrant operating systems to your will. The Big Book of Windows Hacks focuses on Vista, the new bad boy on Microsoft's block, with hacks and workarounds that

  12. Production management of window handles

    Manuela Ingaldi

    2014-12-01

    Full Text Available In the chapter a company involved in the production of aluminum window and door handles was presented. The main customers of the company are primarily companies which produce PCV joinery and wholesalers supplying these companies. One chosen product from the research company - a single-arm pin-lift window handle - was described and its production process depicted technologically. The chapter also includes SWOT analysis conducted in the research company and the value stream of the single-arm pin-lift window handle.

  13. Windows 8 visual quick tips

    McFedries, Paul

    2012-01-01

    Easy-in, easy-out format covers all the bells and whistles of Windows 8 If you want to learn how to work smarter and faster in Microsoft's Windows 8 operating system, this easy-to-use, compact guide delivers the goods. Designed for visual learners, it features short explanations and full-color screen shots on almost every page, and it's packed with timesaving tips and helpful productivity tricks. From enhancing performance and managing digital content to setting up security and much more, this handy guide will help you get more out of Windows 8. Uses full-color screen shots and short, step-by-

  14. Windows Phone 7 Made Simple

    Trautschold, Martin

    2011-01-01

    With Windows Phone 7, Microsoft has created a completely new smartphone operating system that focuses on allowing users to be productive with their smartphone in new ways, while offering seamless integration and use of Microsoft Office Mobile as well as other productivity apps available in the Microsoft App Store. Windows Phone 7 Made Simple offers a clear, visual, step-by-step approach to using your Windows Phone 7 smartphone, no matter what the manufacturer. Author Jon Westfall is an expert in mobile devices, recognized by Microsoft as a "Most Valuable Professional" with experience

  15. Holography through optically active windows

    Decker, A. J.

    1979-01-01

    By using two orthogonally polarized reference beams, holograms can be recorded through stressed windows and the reconstructed virtual image will show no stress pattern. As shown analytically, the stress-pattern-free hologram is recordable for any polarization state of the object illumination. Hence, the more efficient nondepolarizing diffuser can be used in performing holography through stressed windows if two reference beams are used. Results are presented for a pair of machined polysulfone windows intended for use in a holographic flow-visualization setup in a single-stage-compressor test rig.

  16. Syndicated Loan Signed for CPECC'S KUWAIT Project

    1997-01-01

    @@ China Petroleum Engineering Construction Corp. (CPECC) has got a syndicated loan of 80 million USD from a consortium composed of 15 banks of Japan, Germany, France, Netherlands and Belgium with Sanwa Bank Hongkong Branch as the arrangement bank. The loan will be used for building a multiple well manifold production station (MWMPS) in Kuwait. The signing ceremony for the loan agreement was held in late January 1997.

  17. Collateralised loan obligations (CLOs): A primer

    Jobst, Andreas A.

    2002-01-01

    The following descriptive paper surveys the various types of loan securitisation and provides a working definition of so-called collateralised loan obligations (CLOs). Free of the common rhetoric and slogans, which sometimes substitute for understanding of the complex nature of structured finance, this paper describes the theoretical foundations of this specialised form of loan securitisation. Not only the distinctive properties of CLOs, but also the information economics inherent in the tran...

  18. Collateral in Loan Classification and Provisioning

    In W Song

    2002-01-01

    Adequate loan classification practices are an essential part of a sound and effective credit risk-management process in a bank. Failure to identify deterioration in credit quality in a timely manner can aggravate and prolong the problem. Two key issues arise with regard to the use of collateral in the context of loan classification and provisioning. In particular, the questions arise whether collateral should be taken into account in classifying a collateralized loan, and whether it should be...

  19. Grab Windows training opportunities; check CERN Windows roadmap!

    IT Department

    2011-01-01

    CERN Operating Systems and Information Services group (IT-OIS) actively monitors market trends to check how new software products correspond to CERN needs. In the Windows world, Windows 7 has been a big hit, with over 1500 Windows 7 PCs within less than a year since its support was introduced at CERN. No wonder: Windows XP is nearly 10 years old and is steadily approaching the end of its life-cycle. At CERN, support for Windows XP will stop at the end of December 2012. Compared to Vista, Windows 7 has the same basic hardware requirements, but offers higher performance, so the decision to upgrade is rather straightforward. CERN support for Vista will end in June 2011. In the world of Microsoft Office, version 2007 offers better integration with the central services than the older version 2003. Progressive upgrade from 2003 to 2007 is planned to finish in September 2011, but users are encouraged to pro-actively upgrade at their convenience. Please note that Office 2007 brings an important change in the area of ...

  20. Covenant Violations and Dynamic Loan Contracting

    Freudenberg, Felix; Imbierowicz, Björn; Saunders, Anthony

    2017-01-01

    This paper examines the dynamic allocation of control rights in private debt contracts of firms. We show that a covenant violation in the prior loan contract implies a stigma for borrowers which results in stricter loan contract terms in subsequent new loan contracts. Our analyses reject...... potentially other explanations such as firm characteristics or agency problems between the lender and firm management, shareholders or public debtholders. After covenant violations in the prior contract, new loans have on average 18 bps higher spreads and include more of those covenant types which also have...

  1. 7 CFR 1738.30 - Rural broadband access loans and loan guarantees.

    2010-01-01

    ... interest at a rate set by the lender consistent with the current applicable market rate for a loan of... Derivative or any Guaranteed-Amount Debt Derivative; or (B) Any holder of the Guaranteed Loan Note or any Guaranteed Loan Portion Note or any Derivative, as the case may be, having a claim to payments on the...

  2. 77 FR 31993 - Loan Workouts and Nonaccrual Policy, and Regulatory Reporting of Troubled Debt Restructured Loans

    2012-05-31

    ...) instructions for reporting past due status on TDRs, many FICUs maintain separate, manual delinquency... loan delinquency based on restructured contract terms rather than the original loan terms. To that end... loan on nonaccrual status has no impact on the borrower's contractual obligation to the FICU. c...

  3. 77 FR 51751 - Information Collection Request; Farm Loan Programs, Direct Loan Making

    2012-08-27

    ... DEPARTMENT OF AGRICULTURE Farm Service Agency Information Collection Request; Farm Loan Programs, Direct Loan Making AGENCY: Farm Service Agency, USDA. ACTION: Notice; request for comments. SUMMARY: In... approved information collection that supports Direct Loan Making programs. The information collection is in...

  4. Beyond Financial Need: Predictors of Student Loans and Student Loan Attitudes

    Norvilitis, Jill M.; Bat, Meghan J.

    2016-01-01

    Although public concern about student loan debt has been increasing, little research has examined predictors of debt beyond financial need or demographic factors. The present study explored the role of several psychological and attitudinal variables in student loan debt among 189 college students. Results indicate that loan initiative and loan…

  5. 76 FR 42470 - Loan Policies and Operations; Loan Purchases From FDIC; Effective Date

    2011-07-19

    ... FARM CREDIT ADMINISTRATION 12 CFR Part 614 RIN 3052-AC62 Loan Policies and Operations; Loan Purchases From FDIC; Effective Date AGENCY: Farm Credit Administration. ACTION: Notice of effective date... rule under part 614 on May 25, 2011 (76 FR 30246) amending our regulations on loan policies and...

  6. 78 FR 691 - Maximum Loan Amount for Business and Industry Guaranteed Loans in Fiscal Year 2013

    2013-01-04

    ... DEPARTMENT OF AGRICULTURE Rural Business-Cooperative Service Maximum Loan Amount for Business and Industry Guaranteed Loans in Fiscal Year 2013 AGENCY: Rural Business-Cooperative Service, USDA. ACTION... and Industry (B&I) guaranteed loans of $25 million or less under certain circumstances. Due to the...

  7. 38 CFR 36.4204 - Loan purposes, maximum loan amounts and terms.

    2010-07-01

    ... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Loan purposes, maximum loan amounts and terms. 36.4204 Section 36.4204 Pensions, Bonuses, and Veterans' Relief DEPARTMENT OF... constructing a suitable pad for the manufactured home. (e) The maximum permissible loan terms shall not exceed...

  8. Steeper discounting of delayed rewards in schizophrenia but not first-degree relatives.

    Yu, Linda Q; Lee, Sangil; Katchmar, Natalie; Satterthwaite, Theodore D; Kable, Joseph W; Wolf, Daniel H

    2017-06-01

    Excessive discounting of future rewards has been related to a variety of risky behaviors and adverse clinical conditions. Prior work examining delay discounting in schizophrenia suggests an elevated discount rate. However, it remains uncertain whether this reflects the disease process itself or an underlying genetic vulnerability, whether it is selective for delay discounting or reflects pervasive changes in decision-making, and whether it is driven by specific clinical dimensions such as cognitive impairment. Here we investigated delay discounting, as well as loss aversion and risk aversion, in three groups: schizophrenia (SZ), unaffected first-degree family members (FM), and controls without a family history of psychosis (NC). SZ had elevated discounting, without changes in loss aversion or risk aversion. Contrary to expectations, the FM group did not show an intermediate phenotype in discounting. Higher discount rates correlated with lower cognitive performance on verbal reasoning, but this did not explain elevated discount rates in SZ. Group differences were driven primarily by the non-smoking majority of the sample. This study provides further evidence for elevated discounting in schizophrenia, and demonstrates that steeper discounting is not necessarily associated with familial risk, cannot be wholly accounted for by cognitive deficits, and is not attributable to smoking-related impulsivity. Copyright © 2017 Elsevier Ireland Ltd. All rights reserved.

  9. Stress hormones predict hyperbolic time-discount rates six months later in adults.

    Takahashi, Taiki; Shinada, Mizuho; Inukai, Keigo; Tanida, Shigehito; Takahashi, Chisato; Mifune, Nobuhiro; Takagishi, Haruto; Horita, Yutaka; Hashimoto, Hirofumi; Yokota, Kunihiro; Kameda, Tatsuya; Yamagishi, Toshio

    2010-01-01

    Stress hormones have been associated with temporal discounting. Although time-discount rate is shown to be stable over a long term, no study to date examines whether individual differences in stress hormones could predict individuals' time-discount rates in the relatively distant future (e.g., six month later), which is of interest in neuroeconomics of stress-addiction association. We assessed 87 participants' salivary stress hormone (cortisol, cortisone, and alpha-amylase) levels and hyperbolic discounting of delayed rewards consisting of three magnitudes, at the time-interval of six months. For salivary steroid assays, we employed a liquid chromatography/ mass spectroscopy (LC/MS) method. The correlations between the stress hormone levels and time-discount rates were examined. We observed that salivary alpha-amylase (sAA) levels were negatively associated with time-discount rates in never-smokers. Notably, salivary levels of stress steroids (i.e., cortisol and cortisone) negatively and positively related to time-discount rates in men and women, respectively, in never-smokers. Ever-smokers' discount rates were not predicted from these stress hormone levels. Individual differences in stress hormone levels predict impulsivity in temporal discounting in the future. There are sex differences in the effect of stress steroids on temporal discounting; while there was no sex defference in the relationship between sAA and temporal discounting.

  10. Individual discount rates and smoking: evidence from a field experiment in Denmark.

    Harrison, Glenn W; Lau, Morten I; Rutström, E Elisabet

    2010-09-01

    We elicit measures of individual discount rates from a representative sample of the Danish population and test two substantive hypotheses. The first hypothesis is that smokers have higher individual discount rates than non-smokers. The second hypothesis is that smokers are more likely to have time inconsistent preferences than non-smokers, where time inconsistency is indicated by a hyperbolic discounting function. We control for the concavity of the utility function in our estimates of individual discount rates and find that male smokers have significantly higher discount rates than male non-smokers. However, smoking has no significant association with discount rates among women. This result is robust across exponential and hyperbolic discounting functions. We consider the sensitivity of our conclusions to a statistical specification that allows each observation to potentially be generated by more than one latent data-generating process. Copyright 2010 Elsevier B.V. All rights reserved.

  11. 7 CFR 773.21 - Loan decision, closing, and fees.

    2010-01-01

    ..., DEPARTMENT OF AGRICULTURE SPECIAL PROGRAMS SPECIAL APPLE LOAN PROGRAM § 773.21 Loan decision, closing, and... required to execute the promissory notes as individuals. (c) Fees. The applicant will pay all loan closing...

  12. Peliohjelmointi Windows Phone 8:lle

    Bäckström, Toni

    2014-01-01

    Tässä insinöörityössä tutustutaan Windows Phone 8 -mobiilikäyttöjärjestelmään peliohjelmoijan näkökulmasta. Työn tavoitteena oli erityisesti esitellä Microsoftin itse kehittämiä XNA- ja DirectX-peliohjelmointikirjastoja teoriassa ja käytännössä. Työn aluksi käydään läpi hieman Windows Phonen historiaa ja yleisesti kehittämistä Windows Phone 8:lle. Tämän jälkeen luodaan katsaus Windows Phone 8:aan pelialustana. Työn suurin osuus on XNA:n ja DirectX:n esittely teoriassa; kummastakin men...

  13. Social interaction anxiety and the discounting of positive interpersonal events.

    Vassilopoulos, Stephanos P; Banerjee, Robin

    2010-10-01

    Recent research has indicated that individuals with social interaction anxiety make biased interpretations of positive social interactions, with greater general apprehension in response to such events and more negative predictions about the future. There has also been some preliminary evidence for a second facet of interpretation bias, namely a failure to accept others' positive reactions at face value, but this has so far not been adequately studied. The present study developed a new measure of this "discounting" dimension and utilized a nonclinical sample of undergraduate students to provide an initial analysis of the scale. Results provide early support for the psychometric properties of our scale, and indicate that discounting mediates the relationship between social interaction anxiety and low positive affect, over and above the previously studied aspect of positive event interpretation bias. The implications for treatment interventions and further research are discussed.

  14. The impact of efficiency on discretionary loans/finance loss provision: A comparative study of Islamic and conventional banks

    Fekri Ali Shawtari

    2015-12-01

    Full Text Available The paper investigates whether there is a significance difference between the practices of discretionary loan/finance loss provisions between Islamic and conventional banks. Same time, the paper tests whether the efficiency may influence the behaviour of discretionary loans/finance loss provisions, taken into consideration other micro and macro variables. The study utilizes panel data runs over 1996–2011 with unbalanced observations for 16 banks, of which 4 Islamic banks. In order to achieve research objectives, the two-stage approach is adopted to examine the factors that may influence the behaviour of discretionary loan/finance loss provisions with specific emphasize on the efficiency. Furthermore, efficiency scores are estimated using Data Envelopment Windows Analysis. The findings of the research show that Islamic banks employ the discretionary loans/finance loss provisions to manage their earnings. However, the magnitude of discretion of accruals is significantly lower than conventional banks with exception for foreign banks which have reported lower discretionary loans/finance loss provisions than Islamic banks. Moreover, the analysis showed that efficiency affects the overall discretionary loans/finance loss provision positively, although this impact is shaped differently for Islamic and conventional banks.

  15. Three residual income valuation methods and discounted cash flow valuation

    Fernandez, Pablo

    2003-01-01

    In this paper we show that the three residual Income models for equity valuation always yield the same value as the Discounted Cash Flow Valuation models. We use three residual income measures: Economic Profit, Economic Value Added (EVA) and Cash Value Added. We also show that economic profit and EVA are different, although Copeland, Koller and Murrin (2000, page 55) say that economic profit is a synonym of EVA. Specifically, we first show that the present value of the Economic Profit discoun...

  16. Watch for pitfalls of discounted cash flow techniques.

    Chow, C W; McNamee, A H

    1991-04-01

    Discounted cash flow (DCF) techniques can enhance the effectiveness of a healthcare organization's capital budgeting decisions. But a financial manager unaware of common misapplications of DCF techniques may make capital decisions with a hidden bias against long-term projects, an inaccurate evaluation of options, or inappropriate estimations of expected inflation and risk. Social and psychological factors also can impede effective decisions on projects already introduced.

  17. Equivalence of ten different discounted cash flow valuation methods

    Fernandez, Pablo

    2004-01-01

    This paper shows that ten methods of company valuation using discounted cash flows (WACC; equity cash flow; capital cash flow; adjusted present value; residual income; EVA; business's risk-adjusted equity cash flow; business's risk-adjusted free cash flow; risk-free-adjusted equity cash flow; and risk-free-adjusted free cash flow) always give the same value when identical assumptions are used. This result is logical, since all the methods analyze the same reality using the same assumptions; t...

  18. Hippocampus, delay discounting, and vicarious trial-and-error.

    Bett, David; Murdoch, Lauren H; Wood, Emma R; Dudchenko, Paul A

    2015-05-01

    In decision-making, an immediate reward is usually preferred to a delayed reward, even if the latter is larger. We tested whether the hippocampus is necessary for this form of temporal discounting, and for vicarious trial-and-error at the decision point. Rats were trained on a recently developed, adjustable delay-discounting task (Papale et al. (2012) Cogn Affect Behav Neurosci 12:513-526), which featured a choice between a small, nearly immediate reward, and a larger, delayed reward. Rats then received either hippocampus or sham lesions. Animals with hippocampus lesions adjusted the delay for the larger reward to a level similar to that of sham-lesioned animals, suggesting a similar valuation capacity. However, the hippocampus lesion group spent significantly longer investigating the small and large rewards in the first part of the sessions, and were less sensitive to changes in the amount of reward in the large reward maze arm. Both sham- and hippocampus-lesioned rats showed a greater amount of vicarious trial-and-error on trials in which the delay was adjusted. In a nonadjusting version of the delay discounting task, animals with hippocampus lesions showed more variability in their preference for a larger reward that was delayed by 10 s compared with sham-lesioned animals. To verify the lesion behaviorally, rat were subsequently trained on a water maze task, and rats with hippocampus lesions were significantly impaired compared with sham-lesioned animals. The findings on the delay discounting tasks suggest that damage to the hippocampus may impair the detection of reward magnitude. © 2014 Wiley Periodicals, Inc.

  19. Evaluating intergenerational risks: Probabillity adjusted rank-discounted utilitarianism

    Asheim, Geir B.; Zuber, Stéphane

    2015-01-01

    Climate policies have stochastic consequences that involve a great number of generations. This calls for evaluating social risk (what kind of societies will future people be born into) rather than individual risk (what will happen to people during their own lifetimes). As a response we propose and axiomatize probability adjusted rank-discounted critical-level generalized utilitarianism (PARDCLU), through a key axiom that requires that the social welfare order both be ethical and satisfy first...

  20. TEMPORAL INSENSITIVITY OF PVWTP AND IMPLIED DISCOUNT RATES IN CVM

    Kim, Sooil; Haab, Timothy C.

    2003-01-01

    The sensitivity of WTP is tested in terms of the present value and the implied discount rates are derived by varying the length of benefit and the temporal payment schedules. Results show that holding the length of the project constant, the present value of willingness to pay does not vary significantly across payment schemes (one time payment, versus life of the project, versus perpetuity). Heteroskedasticity of error term over payment schemes fails to be accepted. Holding the payment scheme...

  1. A window on urban sustainability

    Stigt, Rien van; Driessen, Peter P.J.; Spit, Tejo J.M.

    2013-01-01

    Sustainable urban development requires the integration of environmental interests in urban planning. Although various methods of environmental assessment have been developed, plan outcomes are often disappointing due to the complex nature of decision-making in urban planning, which takes place in multiple arenas within multiple policy networks involving diverse stakeholders. We argue that the concept of ‘decision windows’ can structure this seemingly chaotic chain of interrelated decisions. First, explicitly considering the dynamics of the decision-making process, we further conceptualized decision windows as moments in an intricate web of substantively connected deliberative processes where issues are reframed within a decision-making arena, and interests may be linked within and across arenas. Adopting this perspective in two case studies, we then explored how decision windows arise, which factors determine their effectiveness and how their occurrence can be influenced so as to arrive at more sustainable solutions. We conclude that the integration of environmental interests in urban planning is highly dependent on the ability of the professionals involved to recognize and manipulate decision windows. Finally, we explore how decision windows may be opened. -- Highlights: • Decision-making about sustainable urban development occurs in networks. • The concept of ‘decision windows’ was further elaborated. • Decision windows help understand how environmental interests enter decision-making. • Decision windows can, to some extent, be influenced

  2. A window on urban sustainability

    Stigt, Rien van, E-mail: rien.vanstigt@hu.nl [Research Center for Technology and Innovation, Utrecht University of Applied Sciences, P.O. Box 182, 3500 AD Utrecht (Netherlands); Driessen, Peter P.J., E-mail: p.driessen@uu.nl [Copernicus Institute of Sustainable Development, Faculty of Geosciences, Utrecht University, P.O. Box 80.115, 3508 TC Utrecht (Netherlands); Spit, Tejo J.M., E-mail: T.J.M.Spit@uu.nl [Department of Human Geography and Spatial Planning, Faculty of Geosciences, Utrecht University, P.O. Box 80.115, 3508 TC Utrecht (Netherlands)

    2013-09-15

    Sustainable urban development requires the integration of environmental interests in urban planning. Although various methods of environmental assessment have been developed, plan outcomes are often disappointing due to the complex nature of decision-making in urban planning, which takes place in multiple arenas within multiple policy networks involving diverse stakeholders. We argue that the concept of ‘decision windows’ can structure this seemingly chaotic chain of interrelated decisions. First, explicitly considering the dynamics of the decision-making process, we further conceptualized decision windows as moments in an intricate web of substantively connected deliberative processes where issues are reframed within a decision-making arena, and interests may be linked within and across arenas. Adopting this perspective in two case studies, we then explored how decision windows arise, which factors determine their effectiveness and how their occurrence can be influenced so as to arrive at more sustainable solutions. We conclude that the integration of environmental interests in urban planning is highly dependent on the ability of the professionals involved to recognize and manipulate decision windows. Finally, we explore how decision windows may be opened. -- Highlights: • Decision-making about sustainable urban development occurs in networks. • The concept of ‘decision windows’ was further elaborated. • Decision windows help understand how environmental interests enter decision-making. • Decision windows can, to some extent, be influenced.

  3. Gender and Banking: Are Women Better Loan Officers?

    Thorsten Beck; Patrick Behr; Andre Guettler

    2013-01-01

    We analyze gender differences associated with loan officer performance. Using a unique data set for a commercial bank in Albania over the period 1996 to 2006, we find that loans screened and monitored by female loan officers show statistically and economically significant lower default rates than loans handled by male loan officers. This effect comes in addition to a lower default rate of female borrowers and cannot be explained by sample selection, overconfidence of male loan officers or exp...

  4. The determinants of loan contracts to business firms

    Pham, Thi Thu Trà; Lensink, Robert

    2006-01-01

    This paper deals with loan contracting from a private bank in Vietnam. We focus on the main loan contract features that the bank uses in lending to business firms, namely loan maturity, collateral and loan interest rate. Based upon the simultaneous equation model of Dennis et al. (2000) and the bank’s loan contracting policies, we examine the possible interdependency of the three different loan contract terms. Also, we try to determine which firm characteristics and exogenous factors are rele...

  5. Discounting future health benefits: the poverty of consistency arguments.

    Nord, Erik

    2011-01-01

    In economic evaluation of health care, main stream practice is to discount benefits at the same rate as costs. But main papers in which this practice is advocated have missed a distinction between two quite different evaluation problems: (1) How much does the time of program occurrence matter for value and (2) how much do delays in health benefits from programs implemented at a given time matter? The papers have furthermore focused on logical and arithmetic arguments rather than on real value considerations. These 'consistency arguments' are at best trivial, at worst logically flawed. At the end of the day, there is a sensible argument for equal discounting of costs and benefits rooted in microeconomic theory of rational, utility maximising consumers' saving behaviour. But even this argument is problematic, first because the model is not clearly supported by empirical observations of individuals' time preferences for health, second because it relates only to evaluation in terms of overall individual utility. It does not provide grounds for claiming that decision makers with a wider societal perspective, which may include concerns for fair distribution, need to discount Copyright © 2010 John Wiley & Sons, Ltd. 2010 John Wiley & Sons, Ltd.

  6. Hoarders Only Discount Consumables and are More Patient for Money

    Brian Donald Vickers

    2016-03-01

    Full Text Available Individuals with hoarding disorder (HD excessively acquire and retain goods while also exhibiting characteristics of impulsivity and addiction. However, HD individuals do not always perform impulsively in experiments, they do not appear interested in money, and they exhibit many features of risk-aversion and future-planning. To examine impulsivity in HD, we compared validated community participants high and low in hoarding tendencies on questionnaire measures of hoarding and impulsivity as well as a standard experimental measure of impulsivity (intertemporal discounting that was modified to compare decisions about money, pens, and snacks. Common discounting effects were replicated. Compared to the low hoarding group, the high hoarding group was more impatient for consumables (pens and snacks but they were more patient for money. This increased patience for money in high hoarding individuals is in contrast to all other studies on discounting in disordered populations, but consistent with the phenomenology of HD. HD does not appear to be driven by a fundamental inability to wait, but rather a specific, potent desire for consumable rewards.

  7. Hoarders Only Discount Consumables and Are More Patient for Money.

    Vickers, Brian D; Preston, Stephanie D; Gonzalez, Richard; Angott, Andrea M

    2016-01-01

    Individuals with hoarding disorder (HD) excessively acquire and retain goods while also exhibiting characteristics of impulsivity and addiction. However, HD individuals do not always perform impulsively in experiments, they do not appear interested in money, and they exhibit many features of risk-aversion and future-planning. To examine impulsivity in HD, we compared validated community participants high and low in hoarding tendencies on questionnaire measures of hoarding and impulsivity as well as a standard experimental measure of impulsivity (intertemporal discounting) that was modified to compare decisions about money, pens, and snacks. Common discounting effects were replicated. Compared to the low hoarding group, the high hoarding group was more impatient for consumables (pens and snacks) but they were more patient for money. This increased patience for money in high hoarding individuals is in contrast to all other studies on discounting in disordered populations, but consistent with the phenomenology of HD. HD does not appear to be driven by a fundamental inability to wait, but rather a specific, potent desire for consumable rewards.

  8. Dissociable roles of glucocorticoid and noradrenergic activation on social discounting.

    Margittai, Zsofia; van Wingerden, Marijn; Schnitzler, Alfons; Joëls, Marian; Kalenscher, Tobias

    2018-04-01

    People often exhibit prosocial tendencies towards close kin and friends, but generosity decreases as a function of increasing social distance between donor and recipient, a phenomenon called social discounting. Evidence suggests that acute stress affects prosocial behaviour in general and social discounting in particular. We tested the causal role of the important stress neuromodulators cortisol (CORT) and noradrenaline (NA) in this effect by considering two competing hypotheses. On the one hand, it is possible that CORT and NA act in concert to increase generosity towards socially close others by reducing the aversiveness of the cost component in costly altruism and enhancing the emotional salience of vicarious reward. Alternatively, it is equally plausible that CORT and NA exert dissociable, opposing effects on prosocial behaviour based on prior findings implicating CORT in social affiliation, and NA in aggressive and antagonistic tendencies. We pharmacologically manipulated CORT and NA levels in a sample of men (N = 150) and found that isolated hydrocortisone administration promoted prosocial tendencies towards close others, reflected in an altered social discount function, but this effect was offset by concurrent noradrenergic activation brought about by simultaneous yohimbine administration. These results provide inceptive evidence for causal, opposing roles of these two important stress neuromodulators on prosocial behaviour, and give rise to the possibility that, depending on the neuroendocrine response profile, stress neuromodulator action can foster both tend-and-befriend and fight-or-flight tendencies at the same time. Copyright © 2018 Elsevier Ltd. All rights reserved.

  9. Mastering Microsoft Windows Server 2008 R2

    Minasi, Mark; Finn, Aidan

    2010-01-01

    The one book you absolutely need to get up and running with Windows Server 2008 R2. One of the world's leading Windows authorities and top-selling author Mark Minasi explores every nook and cranny of the latest version of Microsoft's flagship network operating system, Windows Server 2008 R2, giving you the most in-depth coverage in any book on the market.: Focuses on Windows Windows Server 2008 R2, the newest version of Microsoft's Windows' server line of operating system, and the ideal server for new Windows 7 clients; Author Mark Minasi is one of the world's leading Windows authorities and h

  10. 42 CFR 57.1512 - Length and maturity of loans.

    2010-10-01

    ... CONSTRUCTION OF TEACHING FACILITIES, EDUCATIONAL IMPROVEMENTS, SCHOLARSHIPS AND STUDENT LOANS Loan Guarantees and Interest Subsidies to Assist in Construction of Teaching Facilities for Health Profession...

  11. 42 CFR 57.1518 - Modification of loans.

    2010-10-01

    ... CONSTRUCTION OF TEACHING FACILITIES, EDUCATIONAL IMPROVEMENTS, SCHOLARSHIPS AND STUDENT LOANS Loan Guarantees and Interest Subsidies to Assist in Construction of Teaching Facilities for Health Profession...

  12. 42 CFR 57.1507 - Limitations applicable to loan guarantee.

    2010-10-01

    ... FOR CONSTRUCTION OF TEACHING FACILITIES, EDUCATIONAL IMPROVEMENTS, SCHOLARSHIPS AND STUDENT LOANS Loan Guarantees and Interest Subsidies to Assist in Construction of Teaching Facilities for Health Profession...

  13. Reactor upgrade loans in spring?

    Anon.

    1993-01-01

    The European Bank for Reconstruction and Development (EBRD) could start to make loans for immediate safety improvements on eastern European reactors in the first half of 1993, according to Francois Demarcq, the bank's project manager for the nuclear safety account. He reported to the German Atomforum meeting in Bonn on January 26; progress at last seems to be forthcoming on the proposals for urgent assistance put forward last year by the Group of 24 Organization for Economic Cooperation and Development countries in Lisbon last June and the Group of 7 summit meeting in Bonn in July

  14. 12 CFR 723.17 - Are there any exceptions to the aggregate loan limit?

    2010-01-01

    .... Loans that are excepted from the definition of member business loans are not counted for the purpose of... automobile loans, 20% credit card loans, and 13% total other real estate loans, then the credit union meets...

  15. Discount cosmetic surgery: industry trends and strategies for success.

    Krieger, Lloyd M

    2002-08-01

    Discount cosmetic surgery is a topic of interest to plastic surgeons. To understand this trend and its effects on plastic surgeons, it is necessary to review the economics of cosmetic surgery, plastic surgery's practice environment, and the broader business principles of service industries. Recent work looked at the economics of the plastic surgery market. This analysis demonstrated that increased local density of plastic surgeons was associated with lower adjusted fees for cosmetic procedures. A survey of plastic surgeons about their practice environment revealed that 93 percent categorized the majority of their patients as very or moderately price-sensitive. Fully 98 percent described their business climate as very or moderately competitive and most plastic surgeons thought they lost a sizable number of cosmetic patients within the last year for reasons of price.A standard industry analysis, when applied to cosmetic surgery, reveals the following: an increased number of surgeons leads to lower fees (reducing their bargaining power as suppliers), patients are price-sensitive (increasing their bargaining power as buyers), and there are few barriers to entry among providers (allowing potential new entrants into the market). Such a situation is conducive to discounting taking hold-and even becoming the industry norm. In this environment, business strategy dictates there are three protocols for success: discounting, differentiation, and focus. Discounting joins the trend toward cutting fees. Success comes from increasing volume and efficiency and thus preserving profits. Differentiation creates an industrywide perception of uniqueness; this requires broadly positioning plastic surgeons as holders of a distinct brand identity separate from other "cosmetic surgeons." The final strategy is to focus on a particular buyer group to develop a market niche, such as establishing a "Park Avenue" practice catering to patients who demand a prestigious surgeon, although this is

  16. Rules versus Discretion in Loan Rate Setting

    Cerqueiro, G.M.; Degryse, H.A.; Ongena, S.

    2007-01-01

    We propose a heteroscedastic regression model to identify the determinants of the dispersion in interest rates on loans granted to small and medium sized enterprises. We interpret unexplained deviations as evidence of the banks’ discretionary use of market power in the loan rate setting process.

  17. Microcredit Loan Repayment Default among Small Scale ...

    The model is applied to primary data from a survey of 200 small scale entrepreneurs in the Upper West Region of Ghana. Results show that enterprise size, interest rate, loan duration, level of profit and loan amount are the simultaneous determinants of probability and rate of default. The study recommends that the National ...

  18. 29 CFR 4043.34 - Loan default.

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Loan default. 4043.34 Section 4043.34 Labor Regulations... CERTAIN OTHER NOTIFICATION REQUIREMENTS Post-Event Notice of Reportable Events § 4043.34 Loan default. (a) Reportable event. A reportable event occurs for a plan whenever there is a default by a member of the plan's...

  19. 19 CFR 351.505 - Loans.

    2010-04-01

    ... present ability to meet its costs and fixed financial obligations with its cash flow; and (D) Evidence of the firm's future financial position, such as market studies, country and industry economic forecasts... principal of the loan. (d) Contingent liability interest-free loans—(1) Treatment as loans. In the case of...

  20. The Confidentiality of Interlibrary Loan Records.

    Nolan, Christopher W.

    1993-01-01

    Discusses potential problems for confidentiality within interlibrary loan requests, outlines legal issues related to confidentiality, and proposes guidelines intended to protect library users' rights to privacy. Interlibrary loan documentation procedures are considered; laws and professional standards are reviewed; and the disposition of…

  1. Economic Loan Loss Provision and Expected Loss

    Stefan Hlawatsch

    2010-10-01

    Full Text Available The intention of a loan loss provision is the anticipation of the loan's expected losses by adjusting the book value of the loan. Furthermore, this loan loss provision has to be compared to the expected loss according to Basel II and, in the case of a difference, liable equity has to be adjusted. This however assumes that the loan loss provision and the expected loss are based on a similar economic rationale, which is only valid conditionally in current loan loss provisioning methods according to IFRS. Therefore, differences between loan loss provisions and expected losses should only result from different approaches regarding the parameter estimation within each model and not due to different assumptions regarding the outcome of the model. The provisioning and accounting model developed in this paper overcomes the before-mentioned shortcomings and is consistent with an economic rationale of expected losses. Additionally, this model is based on a close-to-market valuation of the loan that is in favor of the basic idea of IFRS. Suggestions for changes in current accounting and capital requirement rules are provided.

  2. 19 CFR 351.506 - Loan guarantees.

    2010-04-01

    ... Duties INTERNATIONAL TRADE ADMINISTRATION, DEPARTMENT OF COMMERCE ANTIDUMPING AND COUNTERVAILING DUTIES Identification and Measurement of Countervailable Subsidies § 351.506 Loan guarantees. (a) Benefit—(1) In general. In the case of a loan guarantee, a benefit exists to the extent that the total amount a firm pays for...

  3. 12 CFR 614.4330 - Loan participations.

    2010-01-01

    ... Purchases and Sales § 614.4330 Loan participations. Agreements to purchase or sell a participation interest... minimum: (1) Define the duties and responsibilities of the participating institution and the lead lender, and/or the servicing institution, if different from the lead lender. (2) Provide for loan servicing...

  4. Tranching in the Syndicated Loan Market

    Cumming, D.; McCahery, J.A.; Schwienbacher, A.

    2011-01-01

    We use data comprising over 100,000 loans from 115 countries during 1995-2009 to examine factors that affect the extent of loan tranching, and the range of tranche spreads. The data show five factors that drive them: asymmetric information, borrower risk, transaction costs, the presence of

  5. A New Paradigm in Mortgage Loan Advice

    Otterstedt, Margrét Sesselja; Rasmussen, Kourosh Marjani; Kulahci, Murat

    2013-01-01

    The Danish mortgage market has undergone considerable changes during the last 15 years. New and more complex variations of loan products have been introduced. Nevertheless, mortgage loan advice has remained, by large, unchanged. This paper addresses a study where a number of new refinancing rules...

  6. Uranium loans: Delaying the day of reckoning

    Anon.

    1993-01-01

    Spot market volume so far this year, by NUKEM's estimates, comes to just under 11 million lbs. It appears that existing loans are either being extended, or paid back with material borrowed from other sources. Therefore, there has been no significant amount of purchases on the spot market to pay back borrowed uranium. How do we know the loans have not been paid back with spot purchases? For one thing, the amount of uranium loans outstanding has increased. According to our current survey, there may now be as much as 32 million lbs U3O8 equivalent in outstanding loans. At current prices, it's cheaper to borrow than to buy uranium. So borrowers are gambling that prices will remain low for some time, allowing them to delay repayment of the loans. Borrowers then, in essence, are delaying the day of reckoning on these loans. How long they can do so is anyone's guess. As long as uranium is in abundance and utilities remain willing to lend it out, loan activity will likely remain at or near current levels. But when supplies tighten and the market swings in a more positive direction, borrowers may get caught scrambling to repay their loans as quickly as possible

  7. Logit Analysis for Profit Maximizing Loan Classification

    Watt, David L.; Mortensen, Timothy L.; Leistritz, F. Larry

    1988-01-01

    Lending criteria and loan classification methods are developed. Rating system breaking points are analyzed to present a method to maximize loan revenues. Financial characteristics of farmers are used as determinants of delinquency in a multivariate logistic model. Results indicate that debt-to-asset and operating ration are most indicative of default.

  8. 44 CFR 206.367 - Loan repayment.

    2010-10-01

    ... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Loan repayment. 206.367 Section 206.367 Emergency Management and Assistance FEDERAL EMERGENCY MANAGEMENT AGENCY, DEPARTMENT OF... interest, P=the principal amount disbursed; R=the interest rate of the loan; and, T=the outstanding term in...

  9. 78 FR 33755 - Project Financing Loans

    2013-06-05

    ... CFR Part 1710 [0572-AC21] Project Financing Loans AGENCY: Rural Utilities Service, USDA. ACTION... also considering regulations to clarify the agency's procedures for single asset/project financing... parameters necessary to more effectively and prudently use project financing in the RUS electric loan program...

  10. 42 CFR 57.1515 - Loan closing.

    2010-10-01

    ... to Assist in Construction of Teaching Facilities for Health Profession Personnel § 57.1515 Loan... 42 Public Health 1 2010-10-01 2010-10-01 false Loan closing. 57.1515 Section 57.1515 Public Health PUBLIC HEALTH SERVICE, DEPARTMENT OF HEALTH AND HUMAN SERVICES GRANTS GRANTS FOR CONSTRUCTION OF TEACHING...

  11. Pengaruh Non Performing Loan Sebagai Dampak Krisis Keuangan Global terhadap Profitabilitas Perusahaan Perbankan

    Tia Melya Sari

    2015-12-01

    Full Text Available The research purpose is to examine the effect of non-performing loans (NPL in the global financial crisis on the corporate profitability of banks (listed on the Stock Exchange in 2003-2010. Independent variable in this research is Non Performing Loan (NPL and the dependent variable is probability by return on asset.Sampling technique is used non-probability purposive sampling, so to be concluded  the samples used 15 banks. The method of the research is quantitative and description data non performing loan and probability (return on asset bank listing on the Stock Exchange 2003-2010 period. Which are then analyzed by employing statistical analysis, such as simple linier regression, correlation analysis, determination coefficient analysis, and t-test. The data is calculated by SPSS 16 for windows. Based on the research result, there is not influence between non performing loan to probability (return on asset. The two variables show a very weak correlation at 0,142 with negative correlation value. This mean if non performing loan is increasing, profitability (return on asset is decreasing and vice versa. The determination coefficient is 2% and the rest 98% which is influence by other factors. While in the hypothesis examination using t test, t calculation is -1,563 and t table 1,658. As such H0 is accepted. So in conclusion, non  performing loan does not significantly affect the level of profitability (ROA company. Because the intermediary function of banks is not running properly.

  12. Discounting of qualitatively different delayed health outcomes in current and never smokers

    Friedel, Jonathan E.; DeHart, William B.; Frye, Charles C. J.; Rung, Jillian M.; Odum, Amy L.

    2016-01-01

    In delay discounting, temporally remote outcomes have less value. Cigarette smoking is associated with steeper discounting of money and consumable outcomes. It is presently unclear whether smokers discount health outcomes more than non-smokers. We sought to establish the generality of steep discounting for different types of health outcomes in cigarette smokers. Seventy participants (38 smokers and 32 non-smokers) completed four hypothetical outcome delay-discounting tasks: a gain of $500, a loss of $500, a temporary boost in health, and temporary cure from a debilitating disease. Participants reported the duration of each health outcome that would be equivalent to $500; these durations were then used in the respective discounting tasks. Delays ranged from 1 week to 25 years. Smokers’ indifference points for monetary gains, boosts in health, and temporary cures were lower than indifference points from non-smokers. Indifference points of one outcome were correlated with indifference points of other outcomes. Smokers demonstrate steeper discounting across a range of delayed outcomes. How a person discounts one outcome predicts how they will discount other outcomes. These two findings support our assertion that delay discounting is in part a trait. PMID:26691848

  13. Unique prediction of cannabis use severity and behaviors by delay discounting and behavioral economic demand.

    Strickland, Justin C; Lile, Joshua A; Stoops, William W

    2017-07-01

    Few studies have simultaneously evaluated delay discounting and behavioral economic demand to determine their unique contribution to drug use. A recent study in cannabis users found that monetary delay discounting uniquely predicted cannabis dependence symptoms, whereas cannabis demand uniquely predicted use frequency. This study sought to replicate and extend this research by evaluating delay discounting and behavioral economic demand measures for multiple commodities and including a use quantity measure. Amazon.com's Mechanical Turk was used to sample individuals reporting recent cannabis use (n=64) and controls (n=72). Participants completed measures of monetary delay discounting as well as alcohol and cannabis delay discounting and demand. Cannabis users and controls did not differ on monetary delay discounting or alcohol delay discounting and demand. Among cannabis users, regression analyses indicated that cannabis delay discounting uniquely predicted use severity, whereas cannabis demand uniquely predicted use frequency and quantity. These effects remained significant after controlling for other delay discounting and demand measures. This research replicates previous outcomes relating delay discounting and demand with cannabis use and extends them by accounting for the contribution of multiple commodities. This research also demonstrates the ability of online crowdsourcing methods to complement traditional human laboratory techniques. Copyright © 2017 Elsevier B.V. All rights reserved.

  14. Subjective discount rates in the general population and their predictive power for energy saving behavior

    Bruderer Enzler, Heidi; Diekmann, Andreas; Meyer, Reto

    2014-01-01

    Why do people sometimes refrain from saving energy even if it would pay off in monetary terms? Subjective discount rates present one possible explanation for this lack of foresight, but little is known about their level and reliability in the general population. With regard to behavior, persons with lower discount rates are expected to accept additional costs upfront more readily than those with higher discount rates. Based on a representative nation-wide study, the Swiss Environmental Survey 2007, and a follow-up survey, our analyses reveal that on average subjective discount rates are well above market interest rates and moderately stable over a time interval of four years. Income and education are negatively correlated with discount rates. Contrary to expectations, we did not find convincing support for an impact of discount rates on energy saving behavior. - Highlights: • Results of a large panel study in Switzerland. • Mean subjective discount rates in population are well above market interest rates. • Subjective discount rates are moderately stable over four years. • Theory suggests impact of subjective discount rates on energy saving behavior. • However, subjective discount rates do not contribute to explanation of energy saving behavior

  15. Cocaine dependent individuals discount future rewards more than future losses for both cocaine and monetary outcomes.

    Johnson, Matthew W; Bruner, Natalie R; Johnson, Patrick S

    2015-01-01

    Cocaine dependence and other forms of drug dependence are associated with steeper devaluation of future outcomes (delay discounting). Although studies in this domain have typically assessed choices between monetary gains (e.g., receive less money now versus receive more money after a delay), delay discounting is also applicable to decisions involving losses (e.g., small loss now versus larger delayed loss), with gains typically discounted more than losses (the "sign effect"). It is also known that drugs are discounted more than equivalently valued money. In the context of drug dependence, however, relatively little is known about the discounting of delayed monetary and drug losses and the presence of the sign effect. In this within-subject, laboratory study, delay discounting for gains and losses was assessed for cocaine and money outcomes in cocaine-dependent individuals (n=89). Both cocaine and monetary gains were discounted at significantly greater rates than cocaine and monetary losses, respectively (i.e., the sign effect). Cocaine gains were discounted significantly more than monetary gains, but cocaine and monetary losses were discounted similarly. Results suggest that cocaine is discounted by cocaine-dependent individuals in a systematic manner similar to other rewards. Because the sign effect was shown for both cocaine and money, delayed aversive outcomes may generally have greater impact than delayed rewards in shaping present behavior in this population. Copyright © 2014. Published by Elsevier Ltd.

  16. Accounting of discounts, acquired by an enterprise when purchasing production inventories

    Shishkina A.V.

    2017-01-01

    Full Text Available Different types of discounts for the price of a product are quite common in transactions. They are frequently used by industrial enterprises as well: they receive discounts when they purchase production inventories; they offer discounts when they sell the finished product. Industrial enterprise strive to minimize costs when purchasing raw materials necessary for manufacturing and therefore it is interested in acquiring a discount from supplier. Acquiring a discount is a fact of economic life and must be registered in financial accounts of an enterprise, however nowadays the patterns of accounting of such operations are not regulated by any special normative documents and traditionally applied accounting patterns do not contain information on the amounts of received discounts. It is happening because they comply with the current rules of accounting, according to which inventories are accounted only after deduction of the received discount (so the discount is granted in form of verbal agreement. This is a precursor to the lack of data on the received discounts in financial accounting system of an industrial enterprise, to the impossibility of creation the information base for analyzing the effectiveness of the received discounts on its basis, to the violation of the principle of completeness and continuity of registering all the economic life events in accounting. The article offers the already existing variants of financial accounting of the received discounts, analyzes its advantages and disadvantages from the point of view of compliance with the current legislative system and economic contents of discount operation. Proprietary technology of financial accounting of discounts, received by an industrial enterprise when purchasing production stock, is offered. This technology allows solving the stated methodological issues.

  17. Spatial discounting of food and social rewards in guppies (Poecilia reticulata

    Nelly eMühlhoff

    2011-04-01

    Full Text Available In temporal discounting, animals trade off the time to obtain a reward against the quality of a reward, choosing between a smaller reward available sooner versus a larger reward available later. Similar discounting can apply over space, when animals choose between smaller and closer versus larger and more distant rewards. Most studies of temporal and spatial discounting in nonhuman animals use food as the reward, and it is not established whether animals trade off other preferred stimuli in similar ways. Here, we offered female guppies (Poecilia reticulata a spatial discounting task in which we measured preferences for a larger reward as the distance to it increased relative to a closer but smaller reward. We tested whether the fish discounted reward types differently by offering subjects either food items or same-sex conspecifics as rewards. Before beginning the discounting tasks, we conducted validation tests to ensure that subjects equally valued the food and social stimuli in the quantities provided. In the discounting task, subjects switched their preferences from the larger to the smaller reward as the distance to the larger reward increased (spatial discounting, but the pattern and magnitude of discounting did not differ across the two reward types. These findings indicate that guppies show similar patterns of discounting food and social rewards in a spatial task. In an analysis of travel times, however, the fish swam faster to food rewards than to shoaling partners. This difference in travel times implies that fish temporally discounted social rewards less steeply than food rewards. Thus, reward type influences temporal discounting, suggesting a dissociation between temporal and spatial discounting. Our results illustrate how animals adjust choices and travel times depending on both the type of cost (time, distance and benefits (food, social partners.

  18. Switchable Materials for Smart Windows.

    Wang, Yang; Runnerstrom, Evan L; Milliron, Delia J

    2016-06-07

    This article reviews the basic principles of and recent developments in electrochromic, photochromic, and thermochromic materials for applications in smart windows. Compared with current static windows, smart windows can dynamically modulate the transmittance of solar irradiation based on weather conditions and personal preferences, thus simultaneously improving building energy efficiency and indoor human comfort. Although some smart windows are commercially available, their widespread implementation has not yet been realized. Recent advances in nanostructured materials provide new opportunities for next-generation smart window technology owing to their unique structure-property relations. Nanomaterials can provide enhanced coloration efficiency, faster switching kinetics, and longer lifetime. In addition, their compatibility with solution processing enables low-cost and high-throughput fabrication. This review also discusses the importance of dual-band modulation of visible and near-infrared (NIR) light, as nearly 50% of solar energy lies in the NIR region. Some latest results show that solution-processable nanostructured systems can selectively modulate the NIR light without affecting the visible transmittance, thus reducing energy consumption by air conditioning, heating, and artificial lighting.

  19. Travailler avec Windows 7 au CERN (FR)

    CERN. Geneva

    2010-01-01

    Vue d'ensemble des nouveaux concepts et des changements dans l'interface utilisateur survenus dans Windows 7 depuis les versions antérieures de Windows (XP ou Vista). La mise à disposition de Windows 7 au CERN et son intégration dans l’infrastructure de Windows au CERN seront présentées.

  20. Music@Microsoft.Windows: Composing Ambience

    Rickert, Thomas

    2010-01-01

    It is well known, of course, that all Windows versions except for 3.1 have a brief (four to six second) piece of music indicating that Windows is booted and ready for use. While the music may indicate Windows has booted, it bears no immediately discernable relation to the various uses we might actually put Windows to--working, gaming,…

  1. Windows Server 2012 R2 administrator cookbook

    Krause, Jordan

    2015-01-01

    This book is intended for system administrators and IT professionals with experience in Windows Server 2008 or Windows Server 2012 environments who are looking to acquire the skills and knowledge necessary to manage and maintain the core infrastructure required for a Windows Server 2012 and Windows Server 2012 R2 environment.

  2. Windows with improved energy performance

    Noyé, Peter Anders; Laustsen, Jacob Birck; Svendsen, Svend

    2002-01-01

    According to the Danish energy protocol, Energy 21, one of the goals with highest priority is to reduce the CO2-emission. Energy consumption for domestic heating is a major contributor to the CO2-emission; hence one of the primary efforts to reach the goal is by saving energy in the households...... performances. During the last 20 years the U-value of the glazing part of windows has been improved considerably, but the frame part has not followed the same development with respect to energy performance. Therefore an increasingly large part of the total heat loss through windows is relating to the frame...... part, for which reason, as far as energy efficiency and total economy are concerned, it has become more interesting to further develop frame structures. Traditionally, the energy performance of windows has primarily been characterised by the heat loss coefficient, U-value. However as the heat loss has...

  3. Oscillatory integration windows in neurons

    Gupta, Nitin; Singh, Swikriti Saran; Stopfer, Mark

    2016-01-01

    Oscillatory synchrony among neurons occurs in many species and brain areas, and has been proposed to help neural circuits process information. One hypothesis states that oscillatory input creates cyclic integration windows: specific times in each oscillatory cycle when postsynaptic neurons become especially responsive to inputs. With paired local field potential (LFP) and intracellular recordings and controlled stimulus manipulations we directly test this idea in the locust olfactory system. We find that inputs arriving in Kenyon cells (KCs) sum most effectively in a preferred window of the oscillation cycle. With a computational model, we show that the non-uniform structure of noise in the membrane potential helps mediate this process. Further experiments performed in vivo demonstrate that integration windows can form in the absence of inhibition and at a broad range of oscillation frequencies. Our results reveal how a fundamental coincidence-detection mechanism in a neural circuit functions to decode temporally organized spiking. PMID:27976720

  4. Teach yourself visually Windows 8

    McFedries, Paul

    2012-01-01

    A practical guide for visual learners eager to get started with Windows 8 If you learn more quickly when you can see how things are done, this Visual guide is the easiest way to get up and running on Windows 8. It covers more than 150 essential Windows tasks, using full-color screen shots and step-by-step instructions to show you just what to do. Learn your way around the interface and how to install programs, set up user accounts, play music and other media files, download photos from your digital camera, go online, set up and secure an e-mail account, and much more. The tried-and-true format

  5. Windows 7 is supported at CERN

    IT Department

    2010-01-01

    The new version of the Windows operating system - Windows 7 - is now officially supported at CERN. Windows 7 32-bit is now the default operating system for the new computers at CERN. What’s new in Windows 7 Users of Windows XP will find many new features and options. Users of Windows Vista will feel very familiar with one major difference: higher performance and better responsiveness of the operating system. Other enhancements include: refined Aero desktop that makes it easier to navigate between your different application windows; new snapping windows that allows user to resize a window simply by dragging it to the edge of the screen and “pin” that allows grouping and arranging often accessed applications on the taskbar. Windows 7 introduces the new concept of libraries – containers for user files that have links to different local or network folders. By default, users can see four libraries: Documents, Music, Pictures and Videos. These libraries point to the cor...

  6. *New* CRITICAL Windows Security patch

    2003-01-01

    On 10 September 2003, Microsoft issued a new CRITICAL security patch, MS03-039. It must be URGENTLY applied on ALL WINDOWS systems, which are not centrally managed for security patches. This includes Experiment computers, Home computers and Windows Portable and Desktop systems not running NICE. Details of the security hole and patch for MS03-039 (which also includes MS03-026) are at: http://cern.ch/it-div/news/hotfix-MS03-039.asp http://www.microsoft.com/technet/security/bulletin/MS03-039.asp

  7. *New*: CRITICAL Windows Security patch

    2003-01-01

    On 10 September 2003, Microsoft issued a new CRITICAL security patch, MS03-039. It must be URGENTLY applied on ALL WINDOWS systems, which are not centrally managed for security patches. This includes Experiment computers, Home computers and Windows Portable and Desktop systems not running NICE. Details of the security hole and patch for MS03-039 (which also includes MS03-026) are at: http://cern.ch/it-div/news/hotfix-MS03-039.asp http://www.microsoft.com/technet/security/bulletin/MS03-039.asp

  8. Microsoft Windows Server Administration Essentials

    Carpenter, Tom

    2011-01-01

    The core concepts and technologies you need to administer a Windows Server OS Administering a Windows operating system (OS) can be a difficult topic to grasp, particularly if you are new to the field of IT. This full-color resource serves as an approachable introduction to understanding how to install a server, the various roles of a server, and how server performance and maintenance impacts a network. With a special focus placed on the new Microsoft Technology Associate (MTA) certificate, the straightforward, easy-to-understand tone is ideal for anyone new to computer administration looking t

  9. Windows Vista Administrator's Pocket Guide

    Stanek, William R

    2007-01-01

    Portable and precise, this pocket-sized guide delivers immediate answers for the day-to-day administration of Windows Vista. Zero in on core support and maintenance tasks using quick-reference tables, instructions, and lists. You'll get the precise information you need to solve problems and get the job done-whether you're at your desk or in the field! Get fast facts to: Install and configure Windows Vista-and optimize the user workspaceMaintain operating system components, hardware devices, and driversCreate user and group accounts-and control rights and permissionsAdminister group policy se

  10. What's New in Windows Vista?

    Culp, Brian

    2006-01-01

    Get ready for a quick blast through this significant change to Windows! This guide will give you a quick look at many of the most significant new features in Vista, Microsoft's first revision of Windows in nearly six years. Starting with the changes to the interface, introducing Aero, and showing you some visuals, we then move on to the completely revamped search options. The new task scheduler and printing gadgets, are next with some cool new changes. Probably the most significant changes, however, come in the area of security and this guide takes a look at them from user priveleges, to

  11. Decision processes in choice overload: a product of delay and probability discounting?

    Kaplan, Brent A; Reed, Derek D

    2013-07-01

    Recent research in the behavioral decision making literature has demonstrated that humans hyperbolically discount the subjective value of options as the number of options increases (Reed et al., 2012). These findings provide a cognitive-behavioral synthesis of the "choice overload" phenomenon, also known as the "paradox of choice." Specifically, these findings suggest that temporal discounting may serve as the underlying process contributing to this effect. As an extension, this study examined the effects of reward magnitude sizes had on rates temporal and options discounting. This manipulation was conducted to determine what role temporal discounting plays in discounting of options. The present results suggest that temporal discounting may not be the only process contributing to the choice overload effect. Copyright © 2013 Elsevier B.V. All rights reserved.

  12. Heroin addicts have higher discount rates for delayed rewards than non-drug-using controls.

    Kirby, K N; Petry, N M; Bickel, W K

    1999-03-01

    Fifty-six heroin addicts and 60 age-matched controls were offered choices between monetary rewards ($11-$80) available immediately and larger rewards ($25-$85) available after delays ranging from 1 week to 6 months. Participants had a 1-in-6 chance of winning a reward that they chose on one randomly selected trial. Delay-discounting rates were estimated from the pattern of participants' choices. The discounting model of impulsiveness (Ainslie, 1975) implies that delay-discounting rates are positively correlated with impulsiveness. On average, heroin addicts' discount rates were twice those of controls (p = .004), and discount rates were positively correlated with impulsivity as measured by self-report questionnaires (p discounting rate as a measure of impulsiveness, a characteristic associated with substance abuse.

  13. Manipulating the discount rate when valuing international investment projects

    A. A. Medved

    2017-01-01

    Full Text Available The article deals with the practice of evaluation of international investment projects using the cash flow discounting rate. The problem of the discount rate manipulating is connected with the category “country risk”, which often determines the impact on the rate and, accordingly, the investment decisions. Critically examines existing approaches to the definition of “country risk”. Categories that make up a complete picture of “country risk” are distinguished. The general defect of existing country risk concepts is revealed – the fact that the measurements are based on rather subjective assessments and do not have sufficient empirical evidence, the fact that almost all of them have a clear liberal democratic bias: as a rule, drawing attention to the relationship between the political system and stability, the liberal democratic structure of society is recognized as the most stable, without any acceptable scientific evidence, followed by autocracy, military dictatorships and new independent states. The author affirms the lack of a clear and unambiguous definition of this category, the controversial approach to ranking of countries. The author analyzes and proves the bias of rating assigned by foreign companies. As a conclusion the need to create a national research concept of the “country risk” category is аffirms with the subsequent promotion of national rating agencies to the world market. The author's conception of the category “country risk” is proposed, an author's definition is given to this notion, it is recommended to establish the primacy of national ratings over foreign ones both in domestic and international relations in order to have independent influence on international capital flows. It is also proposed the evaluation of projects based on the dynamic discounting rates, especially for long-term strategic projects.

  14. The WACC Fallacy: The Real Effects of Using a Unique Discount Rate

    Krüger, Philipp; Landier, Augustin; Thesmar, David

    2011-01-01

    We document investment distortions induced by the use of a single discount rate within firms. According to textbook capital budgeting, firms should value any project using a discount rate determined by the risk characteristics of the project. If they use a unique company-wide discount rate, they overinvest (resp. underinvest) in divisions with a market beta higher (resp. lower) than the firm's core industry beta. We directly test this consequence of the WACC fallacy and establish a robust and...

  15. Investigation of the existing methodology of value estimation and methods of discount rate estimation

    Plikus, Iryna

    2017-01-01

    The subject of research is the current practice of determining the fair value of assets and liabilities at the present (discounted) cost. One of the most problematic places is the determination of the discount rate, which belongs to the jurisdiction of a professional accountant judgment.The methods of formalization, hypothetical assumption, system approach and scientific abstraction in substantiating the formation of accounting policy with respect to the choice of the discount rate are used i...

  16. The vanishing discount problem and viscosity Mather measures. Part 2: boundary value problems

    Ishii, Hitoshi; Mitake, Hiroyoshi; Tran, Hung V.

    2016-01-01

    In arXiv:1603.01051 (Part 1 of this series), we have introduced a variational approach to studying the vanishing discount problem for fully nonlinear, degenerate elliptic, partial differential equations in a torus. We develop this approach further here to handle boundary value problems. In particular, we establish new representation formulas for solutions of discount problems, critical values, and use them to prove convergence results for the vanishing discount problems.

  17. Integrating discount usability in scrum development process in Ethiopia

    Teka, Degif; Dittrich, Y.; Kifle, Mesfin

    2017-01-01

    be adapted and integrated into the Scrum-agile development with especial emphasis on the Ethiopian context. The research aims at adapting software engineering and ICT development methods to the specific situation and integrating user-centered design (UCD) and lightweight usability methods into agile...... end users and developers. Culturally adapted user pair testing and heuristic evaluation supported usability testing and supported developers in getting early feedback. Integrated approach of discount usability with the Scrum process has been developed and evaluated first with the involved...

  18. 7 CFR 772.14 - Reamortization of AMP loans.

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Reamortization of AMP loans. 772.14 Section 772.14... AGRICULTURE SPECIAL PROGRAMS SERVICING MINOR PROGRAM LOANS § 772.14 Reamortization of AMP loans. The Agency may approve reamortization of AMP loans provided: (a) There is no extension of the final maturity date...

  19. 12 CFR 583.20 - Savings and loan holding company.

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Savings and loan holding company. 583.20... REGULATIONS AFFECTING SAVINGS AND LOAN HOLDING COMPANIES § 583.20 Savings and loan holding company. The term savings and loan holding company means any company that directly or indirectly controls a savings...

  20. 12 CFR 561.30 - Nonresidential construction loan.

    2010-01-01

    ... REGULATIONS AFFECTING ALL SAVINGS ASSOCIATIONS § 561.30 Nonresidential construction loan. The term nonresidential construction loan means a loan for construction of other than one or more dwelling units. ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Nonresidential construction loan. 561.30...