WorldWideScience

Sample records for volume discount solar

  1. Discounting

    International Nuclear Information System (INIS)

    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.)

  2. Intention to Purchase Products under Volume Discount Scheme: A Conceptual Model and Research Propositions

    Directory of Open Access Journals (Sweden)

    Mohammad Iranmanesh

    2014-12-01

    Full Text Available Many standard brands sell products under the volume discount scheme (VDS as more and more consumers are fond of purchasing products under this scheme. Despite volume discount being commonly practiced, there is a dearth of research, both conceptual and empirical, focusing on purchase characteristics factors and consumer internal evaluation concerning the purchase of products under VDS. To attempt to fill this void, this article develops a conceptual model on VDS with the intention of delineating the influence of the purchase characteristics factors on the consumer intention to purchase products under VDS and provides an explanation of their effects through consumer internal evaluation. Finally, the authors discuss the managerial implications of their research and offer guidelines for future empirical research.

  3. Delay discounting mediates the association between posterior insular cortex volume and social media addiction symptoms.

    Science.gov (United States)

    Turel, Ofir; He, Qinghua; Brevers, Damien; Bechara, Antoine

    2018-04-25

    Addiction-like symptoms in relation to excessive and compulsive social media use are common in the general population. Because they can lead to various adverse effects, there is a growing need to understand the brain systems and processes that are involved in potential social media addiction. We focus on the morphology of the posterior subdivision of the insular cortex (i.e., the insula), because it has been shown to be instrumental to supporting the maintenance of substance addictions and problematic behaviors. Assuming that social media addiction shares neural similarities with more established ones and consistent with evidence from the neuroeconomics domain, we further examine one possible reason for this association-namely that insular morphology influences one's delay discounting and that this delay discounting contributes to exaggerated preference for immediate social media rewards and consequent addiction-like symptoms. Based on voxel-based morphometry techniques applied to MRI scans of 32 social media users, we show that the gray matter volumes of the bilateral posterior insula are negatively associated with social media addiction symptoms. We further show that this association is mediated by delay discounting. This provides initial evidence that insular morphology can be associated with potential social media addiction, in part, through its contribution to poor foresight and impulsivity as captured by delay discounting.

  4. Optimal repairable spare-parts procurement policy under total business volume discount environment

    International Nuclear Information System (INIS)

    Pascual, Rodrigo; Santelices, Gabriel; Lüer-Villagra, Armin; Vera, Jorge; Cawley, Alejandro Mac

    2017-01-01

    In asset intensive fields, where components are expensive and high system availability is required, spare parts procurement is often a critical issue. To gain competitiveness and market share is common for vendors to offer Total Business Volume Discounts (TBVD). Accordingly, companies must define the procurement and stocking policy of their spare parts in order to reduce procurement costs and increase asset availability. In response to those needs, this work presents an optimization model that maximizes the availability of the equipment under a TBVD environment, subject to a budget constraint. The model uses a single-echelon structure where parts can be repaired. It determines the optimal number of repairable spare parts to be stocked, giving emphasis on asset availability, procurement costs and service levels as the main decision criteria. A heuristic procedure that achieves high quality solutions in a fast and time-consistent way was implemented to improve the time required to obtain the model solution. Results show that using an optimal procurement policy of spare parts and accounting for TBVD produces better overall results and yields a better availability performance. - Highlights: • We propose a model for procurement of repairable components in single-echelon and business volume discount environments. • We used a mathematical model to develop a competitive heuristic that provides high quality solutions in very short times. • Our model places emphasis on using system availability, procurement costs and service levels as leading decision criteria. • The model can be used as an engine for a multi-criteria Decision Support System.

  5. The effect of future time perspective on delay discounting is mediated by the gray matter volume of vmPFC.

    Science.gov (United States)

    Guo, Yiqun; Chen, Zhiyi; Feng, Tingyong

    2017-07-28

    Although several previous studies have shown that individuals' attitude towards time could affect their intertemporal preference, little is known about the neural basis of the relation between time perspective (TP) and delay discounting. In the present study, we quantified the gray matter (GM) cortical volume using voxel-based morphometry (VBM) methods to investigate the effect of TP on delay discounting (DD) across two independent samples. For group 1 (102 healthy college students; 46 male; 20.40 ± 1.87 years), behavioral results showed that only Future TP was a significant predictor of DD, and higher scores on Future TP were related to lower discounting rates. Whole-brain analysis revealed that steeper discounting correlated with greater GM volume in the ventromedial prefrontal cortex (vmPFC) and ventral part of posterior cingulate cortex (vPCC). Also, GM volume of a cluster in the vmPFC was correlated with Future TP. Interestingly, there was an overlapping region in vmPFC that was correlated with both DD and Future TP. Region-of-interest analysis further indicated that the overlapping region of vmPFC played a partially mediating role in the relation between Future TP and DD in the other independent dataset (Group 2, 36 healthy college students; 14 male; 20.18±1.80 years). Taken together, our results provide a new perspective from neural basis for explaining the relation between DD and future TP. Copyright © 2017 Elsevier Ltd. All rights reserved.

  6. Solar engineering 1995: Proceedings. Volume 1

    International Nuclear Information System (INIS)

    Stine, W.B.; Tanaka, Tadayoshi; Claridge, D.E.

    1995-01-01

    This is Volume 1 of the papers presented at the 1995 ASME/JSME/JSES International Solar Energy Conference. The topics of the papers include wind energy, heat pump performance, ground source and solar chemical heat pumps, analysis of measured building energy data, thermal storage, system modeling of buildings, evaluation of the Federal Building energy Efficiency program, sustainable projects, bioconversion, solar chemistry, solar detoxification innovative concepts and industrial applications, solar thermal power systems, DISH/engine power systems, power towers, solar thermal power advanced development, and solar thermal process heating and cooling

  7. Discounting Behavior

    DEFF Research Database (Denmark)

    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...

  8. 1991 SOLAR WORLD CONGRESS - VOLUME 1, PART I

    Science.gov (United States)

    The four-volume proceedings document the 1991 Solar World Congress (the biennial congress of the International Solar Energy Society) in Denver, CO, August 19-23, 1991. Volume 1 is dedicated to solar electricity, biofuels, and renewable resources. Volume 2 contains papers on activ...

  9. Intergenerational discounting

    International Nuclear Information System (INIS)

    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)

  10. On multiple discount rates

    OpenAIRE

    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.

  11. Discounting in Economic Evaluations.

    Science.gov (United States)

    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.

  12. Discounting and nuclear power

    International Nuclear Information System (INIS)

    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.)

  13. Discounted Duration Calculus

    DEFF Research Database (Denmark)

    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....

  14. Discounting and Expropriation Risk

    OpenAIRE

    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...

  15. Discounting in Time

    DEFF Research Database (Denmark)

    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...

  16. Solar technology assessment project. Volume 6: Photovoltaic technology assessment

    Science.gov (United States)

    Backus, C. E.

    1981-04-01

    Industrial production of photovoltaic systems and volume of sales are reviewed. Low cost silicon production techniques are reviewed, including the Czochralski process, heat exchange method, edge defined film fed growth, dentritic web growth, and silicon on ceramic process. Semicrystalline silicon, amorphous silicon, and low cost poly-silicon are discussed as well as advanced materials and concentrator systems. Balance of system components beyond those needed to manufacture the solar panels are included. Nontechnical factors are assessed. The 1986 system cost goals are briefly reviewed.

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

    Directory of Open Access Journals (Sweden)

    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.

  18. Values in Time Discounting.

    Science.gov (United States)

    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.

  19. High-Volume Production of Lightweight Multijunction Solar Cells

    Science.gov (United States)

    Youtsey, Christopher

    2015-01-01

    MicroLink Devices, Inc., has transitioned its 6-inch epitaxial lift-off (ELO) solar cell fabrication process into a manufacturing platform capable of sustaining large-volume production. This Phase II project improves the ELO process by reducing cycle time and increasing the yield of large-area devices. In addition, all critical device fabrication processes have transitioned to 6-inch production tool sets designed for volume production. An emphasis on automated cassette-to-cassette and batch processes minimizes operator dependence and cell performance variability. MicroLink Devices established a pilot production line capable of at least 1,500 6-inch wafers per month at greater than 80 percent yield. The company also increased the yield and manufacturability of the 6-inch reclaim process, which is crucial to reducing the cost of the cells.

  20. Open access discount information

    International Development Research Centre (IDRC) Digital Library (Canada)

    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.

  1. Proceedings of solar energy storage options. Volume I. An intensive workshop on thermal energy storage for solar heating and cooling

    Energy Technology Data Exchange (ETDEWEB)

    None

    1979-01-01

    Separate abstracts were prepared for the 28 papers presented. Panel chairmen's summaries are included; the complete panel reports will be published in Volume II of the Solar Energy Storage Options Workshop proceedings. (WHK)

  2. Social Discounting under Risk.

    Science.gov (United States)

    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.

  3. Aggregate Social Discount Rate Derived from Individual Discount Rates

    OpenAIRE

    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

    OpenAIRE

    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

    NARCIS (Netherlands)

    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. Solar thermal technology report, FY 1981. Volume 1: Executive summary

    Science.gov (United States)

    1982-01-01

    The activities of the Department of Energy's Solar Thermal Technology Program are discussed. Highlights of technical activities and brief descriptions of each technology are given. Solar thermal conversion concepts are discussed in detail, particularily concentrating collectors and salt-gradient solar ponds.

  7. Solar energy research and development: program balance. Annex, Volume I

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-02-01

    An evaluation of federal research, development, and demonstration options on solar energy is presented. This assessment treats seven groups of solar energy technologies: solar heating and cooling of buildings, agricultural and industrial process heat, biomass, photovoltaics, thermal power, wind, and ocean thermal energy conversion. The evaluation methodology is presented in detail. (MHR)

  8. SOLTECH 92 proceedings: Solar Process Heat Program. Volume 1

    Energy Technology Data Exchange (ETDEWEB)

    1992-03-01

    This document is a limited Proceedings, documenting the presentations given at the symposia conducted by the US Department of Energy`s (DOE) Solar Industrial Program and Solar Thermal Electrical Program at SOLTECH92. The SOLTECH92 national solar energy conference was held in Albuquerque, New Mexico during the period February 17--20, 1992. The National Renewable Energy Laboratory manages the Solar Industrial Program; Sandia National Laboratories (Albuquerque) manages the Solar Thermal Electric Program. The symposia sessions were as follows: (1) Solar Industrial Program and Solar Thermal Electric Program Overviews, (2) Solar Process Heat Applications, (3) Solar Decontamination of Water and Soil; (4) Solar Building Technologies, (5) Solar Thermal Electric Systems, (6) PV Applications and Technologies. For each presentation given in these symposia, these Proceedings provide a one- to two-page abstract and copies of the viewgraphs and/or 35mm slides utilized by the speaker. Some speakers provided additional materials in the interest of completeness. The materials presented in this document were not subjected to a peer review process.

  9. SOLTECH 1992 proceedings: Solar Process Heat Program, volume 1

    Science.gov (United States)

    1992-03-01

    This document is a limited Proceedings, documenting the presentations given at the symposia conducted by the U.S. Department of Energy's (DOE) Solar Industrial Program and Solar Thermal Electrical Program at SOLTECH92. The SOLTECH92 national solar energy conference was held in Albuquerque, New Mexico during the period February 17-20, 1992. The National Renewable Energy Laboratory manages the Solar Industrial Program; Sandia National Laboratories (Albuquerque) manages the Solar Thermal Electric Program. The symposia sessions were as follows: (1) Solar Industrial Program and Solar Thermal Electric Program Overviews, (2) Solar Process Heat Applications, (3) Solar Decontamination of Water and Soil, (4) Solar Building Technologies, (5) Solar Thermal Electric Systems, and (6) Photovoltaic (PV) Applications and Technologies. For each presentation given in these symposia, these Proceedings provide a one- to two-page abstract and copies of the viewgraphs and/or 35 mm slides utilized by the speaker. Some speakers provided additional materials in the interest of completeness. The materials presented in this document were not subjected to a peer review process.

  10. Progress in passive solar energy systems. Volume 8. Part 1

    Energy Technology Data Exchange (ETDEWEB)

    Hayes, J.; Andrejko, D.A.

    1983-01-01

    This book presents the papers given at a conference sponsored by the US DOE, the Solar Energy Research Institute, SolarVision, Inc., and the Southern California Solar Energy Society. The topics considered at the conference included sizing solar energy systems for agricultural applications, a farm scale ethanol production plant, the EEC wind energy RandD program, the passive solar performance assessment of an earth-sheltered house, the ARCO 1 MW photovoltaic power plant, the performance of a dendritic web photovoltaic module, second generation point focused concentrators, linear fresnel lens concentrating photovoltaic collectors, photovoltaic conversion efficiency, amorphous silicon thin film solar cells, a photovoltaic system for a shopping center, photovoltaic power generation for the utility industry, spectral solar radiation, and the analysis of insolation data.

  11. Shopping in discount stores

    DEFF Research Database (Denmark)

    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....

  12. Brain Structure Linking Delay Discounting and Academic Performance.

    Science.gov (United States)

    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.

  13. Combined cycle solar central receiver hybrid power system study. Volume III. Appendices. Final technical report

    Energy Technology Data Exchange (ETDEWEB)

    None

    1979-11-01

    A design study for a 100 MW gas turbine/steam turbine combined cycle solar/fossil-fuel hybrid power plant is presented. This volume contains the appendices: (a) preconceptual design data; (b) market potential analysis methodology; (c) parametric analysis methodology; (d) EPGS systems description; (e) commercial-scale solar hybrid power system assessment; and (f) conceptual design data lists. (WHK)

  14. Solar '95: Proceedings of the 20. national passive solar conference. Volume 20

    International Nuclear Information System (INIS)

    Campbell-Howe, R.; Wilkins-Crowder, B.

    1995-01-01

    This book contains the proceedings of the 20th National Passive Solar Conference, 1995, of the American Solar Energy Society. The topics of the papers include historical aspects of solar energy, daylighting, examination of passive system designs, sustainability concepts, building components, building design, application of solar architecture, case studies, education, and design tools

  15. Network Effects Versus Strategic Discounting

    DEFF Research Database (Denmark)

    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...

  16. Atmospheric Renewable Energy Research, Volume 5 (Solar Radiation Flux Model)

    Science.gov (United States)

    2017-09-01

    sources, namely photovoltaic (PV) panels, to roughly determine the energy producing potential of an installation’s solar array. The implicit...power resources assembled as a single system (generator, storage, distribution and load), with the ability to run independently as an “island” and/or...atmospheric layers that will act on the solar radiation as it traverses strata. These terms are a function of cloud type, size , and density. To create a

  17. Progress in batteries and solar cells. Volume 5

    International Nuclear Information System (INIS)

    Shimotake, H.

    1984-01-01

    The 89 articles in this book are on research in batteries, solar cells and fuel cells. Topics include uses of batteries in electric powered vehicles, load management in power plants, batteries for miniature electronic devices, electrochemical processes, and various electrode and electrolyte materials, including organic compounds. Types of batteries discussed are lithium, lead-acid, manganese dioxide, Silver cells, Air cells, Nickel cells and solar cells. Problems of recharging and life cycle are also discussed

  18. 5 CFR 1315.7 - Discounts.

    Science.gov (United States)

    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...

  19. Towards a healthier discount procedure.

    Science.gov (United States)

    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.

  20. Estimating Discount Rates

    Directory of Open Access Journals (Sweden)

    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.

  1. Solar Thermal Enhanced Oil Recovery, (STEOR) Volume 1: Executive summary

    Science.gov (United States)

    Elzinga, E.; Arnold, C.; Allen, D.; Garman, R.; Joy, P.; Mitchell, P.; Shaw, H.

    1980-11-01

    Thermal enhanced oil recovery is widely used in California to aid in the production of heavy oils. Steam injection either to stimulate individual wells or to drive oil to the producing wells, is by far the major thermal process today and has been in use for over 20 years. Since steam generation at the necessary pressures (generally below 4000 kPa (580 psia)) is within the capabilities of present day solar technology, it is logical to consider the possibilities of solar thermal enhanced oil recovery (STEOR). The present project consisted of an evaluation of STEOR. Program objectives, system selection, trade-off studies, preliminary design, cost estimate, development plan, and market and economic analysis are summarized.

  2. Flat-plate solar array project. Volume 7: Module encapsulation

    Science.gov (United States)

    Cuddihy, E.; Coulbert, C.; Gupta, A.; Liang, R.

    1986-01-01

    The objective of the Encapsulation Task was to develop, demonstrate, and qualify photovoltaic (PV) module encapsulation systems that would provide 20 year (later decreased to 30 year) life expectancies in terrestrial environments, and which would be compatible with the cost and performance goals of the Flat-Plate Solar Array (FSA) Project. The scope of the Encapsulation Task included the identification, development, and evaluation of material systems and configurations required to support and protect the optically and electrically active solar cell circuit components in the PV module operating environment. Encapsulation material technologies summarized include the development of low cost ultraviolet protection techniques, stable low cost pottants, soiling resistant coatings, electrical isolation criteria, processes for optimum interface bonding, and analytical and experimental tools for evaluating the long term durability and structural adequacy of encapsulated modules. Field testing, accelerated stress testing, and design studies have demonstrated that encapsulation materials, processes, and configurations are available that meet the FSA cost and performance goals.

  3. Flat-plate solar array project. Volume 2: Silicon material

    Science.gov (United States)

    Lutwack, R.

    1986-10-01

    The goal of the Silicon Material Task, a part of the Flat Plate Solar Array (FSA) Project, was to develop and demonstate the technology for the low cost production of silicon of suitable purity to be used as the basic material for the manufacture of terrestrial photovoltaic solar cells. Summarized are 11 different processes for the production of silicon that were investigated and developed to varying extent by industrial, university, and Government researchers. The silane production section of the Union Carbide Corp. (UCC) silane process was developed completely in this program. Coupled with Siemens-type chemical vapor deposition reactors, the process was carried through the pilot stage. The overall UCC process involves the conversion of metallurgical-grade silicon to silane followed by decomposition of the silane to purified silicon. The other process developments are described to varying extents. Studies are reported on the effects of impurities in silicon on both silicon-material properties and on solar cell performance. These studies on the effects of impurities yielded extensive information and models for relating specific elemental concentrations to levels of deleterious effects.

  4. Flat-plate solar array project. Volume 2: Silicon material

    Science.gov (United States)

    Lutwack, R.

    1986-01-01

    The goal of the Silicon Material Task, a part of the Flat Plate Solar Array (FSA) Project, was to develop and demonstate the technology for the low cost production of silicon of suitable purity to be used as the basic material for the manufacture of terrestrial photovoltaic solar cells. Summarized are 11 different processes for the production of silicon that were investigated and developed to varying extent by industrial, university, and Government researchers. The silane production section of the Union Carbide Corp. (UCC) silane process was developed completely in this program. Coupled with Siemens-type chemical vapor deposition reactors, the process was carried through the pilot stage. The overall UCC process involves the conversion of metallurgical-grade silicon to silane followed by decomposition of the silane to purified silicon. The other process developments are described to varying extents. Studies are reported on the effects of impurities in silicon on both silicon-material properties and on solar cell performance. These studies on the effects of impurities yielded extensive information and models for relating specific elemental concentrations to levels of deleterious effects.

  5. Synchronisation of customers’ orders using discounts

    DEFF Research Database (Denmark)

    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....

  6. Assessing delay discounting in mice

    OpenAIRE

    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...

  7. Renewable Resources: a national catalog of model projects. Volume 1. Northeast Solar Energy Center Region

    Energy Technology Data Exchange (ETDEWEB)

    None

    1980-07-01

    This compilation of diverse conservation and renewable energy projects across the United States was prepared through the enthusiastic participation of solar and alternate energy groups from every state and region. Compiled and edited by the Center for Renewable Resources, these projects reflect many levels of innovation and technical expertise. In many cases, a critique analysis is presented of how projects performed and of the institutional conditions associated with their success or failure. Some 2000 projects are included in this compilation; most have worked, some have not. Information about all is presented to aid learning from these experiences. The four volumes in this set are arranged in state sections by geographic region, coinciding with the four Regional Solar Energy Centers. The table of contents is organized by project category so that maximum cross-referencing may be obtained. This volume includes information on the Northeast Solar Energy Center Region. (WHK).

  8. Renewable Resources: a national catalog of model projects. Volume 3. Southern Solar Energy Center Region

    Energy Technology Data Exchange (ETDEWEB)

    None

    1980-07-01

    This compilation of diverse conservation and renewable energy projects across the United States was prepared through the enthusiastic participation of solar and alternate energy groups from every state and region. Compiled and edited by the Center for Renewable Resources, these projects reflect many levels of innovation and technical expertise. In many cases, a critique analysis is presented of how projects performed and of the institutional conditions associated with their success or failure. Some 2000 projects are included in this compilation; most have worked, some have not. Information about all is presented to aid learning from these experiences. The four volumes in this set are arranged in state sections by geographic region, coinciding with the four Regional Solar Energy Centers. The table of contents is organized by project category so that maximum cross-referencing may be obtained. This volume includes information on the Southern Solar Energy Center Region. (WHK)

  9. Renewable Resources: a national catalog of model projects. Volume 4. Western Solar Utilization Network Region

    Energy Technology Data Exchange (ETDEWEB)

    None

    1980-07-01

    This compilation of diverse conservation and renewable energy projects across the United States was prepared through the enthusiastic participation of solar and alternate energy groups from every state and region. Compiled and edited by the Center for Renewable Resources, these projects reflect many levels of innovation and technical expertise. In many cases, a critique analysis is presented of how projects performed and of the institutional conditions associated with their success or failure. Some 2000 projects are included in this compilation; most have worked, some have not. Information about all is presented to aid learning from these experiences. The four volumes in this set are arranged in state sections by geographic region, coinciding with the four Regional Solar Energy Centers. The table of contents is organized by project category so that maximum cross-referencing may be obtained. This volume includes information on the Western Solar Utilization Network Region. (WHK)

  10. Flat-plate solar array project. Volume 1: Executive summary

    Science.gov (United States)

    Callaghan, W.; Mcdonald, R.

    1986-01-01

    In 1975, the U.S. Government contracted the Jet Propulsion Lab. to develop, by 1985, in conjunction with industry, the photovoltaics (PV) module and array technology required for widespread use of photovoltaics as a significant terrestrial energy source. As a result, a project that eventually became known as the Flat Plate Solar Array (FSA) Project was formed to manage an industry, university, and Government team to perform the necessary research and development. The original goals were to achieve widespread commercial use of PV modules and arrays through the development of technology that would allow them to be profitably sold for $1.07/peak watts (1985 dollars). A 10% module conversion efficiency and a 20 year lifetime were also goals. It is intended that the executive summary provide the means by which one can gain a perspective on 11 years of terrestrial photovoltaic research and development conducted by the FSA Project.

  11. A Solar Radiation Parameterization for Atmospheric Studies. Volume 15

    Science.gov (United States)

    Chou, Ming-Dah; Suarez, Max J. (Editor)

    1999-01-01

    The solar radiation parameterization (CLIRAD-SW) developed at the Goddard Climate and Radiation Branch for application to atmospheric models are described. It includes the absorption by water vapor, O3, O2, CO2, clouds, and aerosols and the scattering by clouds, aerosols, and gases. Depending upon the nature of absorption, different approaches are applied to different absorbers. In the ultraviolet and visible regions, the spectrum is divided into 8 bands, and single O3 absorption coefficient and Rayleigh scattering coefficient are used for each band. In the infrared, the spectrum is divided into 3 bands, and the k-distribution method is applied for water vapor absorption. The flux reduction due to O2 is derived from a simple function, while the flux reduction due to CO2 is derived from precomputed tables. Cloud single-scattering properties are parameterized, separately for liquid drops and ice, as functions of water amount and effective particle size. A maximum-random approximation is adopted for the overlapping of clouds at different heights. Fluxes are computed using the Delta-Eddington approximation.

  12. A high volume cost efficient production macrostructuring process. [for silicon solar cell surface treatment

    Science.gov (United States)

    Chitre, S. R.

    1978-01-01

    The paper presents an experimentally developed surface macro-structuring process suitable for high volume production of silicon solar cells. The process lends itself easily to automation for high throughput to meet low-cost solar array goals. The tetrahedron structure observed is 0.5 - 12 micron high. The surface has minimal pitting with virtually no or very few undeveloped areas across the surface. This process has been developed for (100) oriented as cut silicon. Chemi-etched, hydrophobic and lapped surfaces were successfully texturized. A cost analysis as per Samics is presented.

  13. The Effect of the Volume Flow rate on the Efficiency of a Solar Collector

    DEFF Research Database (Denmark)

    Fan, Jianhua; Shah, Louise Jivan; Furbo, Simon

    rates. Theoretically, a simplified model of the solar collector panel is built by means of the CFD (Computational Fluid Dynamics) code Fluent, where the geometry of the collector panel except the casing is fully modeled. Both lateral and longitudinal heat conduction in the absorber fins, the heat...... transfer from the absorber to the solar collector fluid and the heat loss from the absorber are considered. Flow and temperature distribution in the collector panel are investigated with buoyancy effect. Measurements are carried out with the solar collector panel. Collector efficiencies are measured......The flow distribution inside a collector panel with an area of 12.5 m² and with 16 parallel connected horizontal fins and the effect of the flow nonuniformity on the risk of boiling and on the collector efficiency have been theoretically and experimentally investigated for different volume flow...

  14. Solar central receiver prototype heliostat CDRL item B. d. Final technical report, Volume 2

    Energy Technology Data Exchange (ETDEWEB)

    Easton, C. R.

    1978-08-01

    This is volume II of a two volume report which presents the results of a study to define a low-cost approach to the production, installation, and operation of heliostats for central receiver solar thermal power plants. Performance and cost analyses are presented, and critical R and D areas are identified. Also, computer printed work sheets are included for heliostat investment, maintenance equipment investment, initial spares investment, and first years operations and maintenance for 2,500, 25,000, 250,000, and 1,000,000 units per year production. (WHK)

  15. High-power, ultralow-mass solar arrays: FY-77 solar arrays technology readiness assessment report, volume 2

    Science.gov (United States)

    Costogue, E. N.; Young, L. E.; Brandhorst, H. W., Jr.

    1978-01-01

    Development efforts are reported in detail for: (1) a lightweight solar array system for solar electric propulsion; (2) a high efficiency thin silicon solar cell; (3) conceptual design of 200 W/kg solar arrays; (4) fluorocarbon encapsulation for silicon solar cell array; and (5) technology assessment of concentrator solar arrays.

  16. S/EV 92 (Solar and Electric Vehicles): Proceedings. Volume 1

    Energy Technology Data Exchange (ETDEWEB)

    1992-12-01

    Volume I of these proceedings presents current research on solar and electric powered vehicles. Both fundamental and advanced concepts concerning electric vehicles are presented. The use of photovoltaic cells in electric vehicles and in a broader sense as a means of power generation are discussed. Information on electric powered fleets and races is included. And policy and regulations, especially pertaining to air quality and air pollution abatement are presented.

  17. Preliminary design of the Carrisa Plains solar central receiver power plant. Volume II. Plant specifications

    Energy Technology Data Exchange (ETDEWEB)

    Price, R. E.

    1983-12-31

    The specifications and design criteria for all plant systems and subsystems used in developing the preliminary design of Carrisa Plains 30-MWe Solar Plant are contained in this volume. The specifications have been organized according to plant systems and levels. The levels are arranged in tiers. Starting at the top tier and proceeding down, the specification levels are the plant, system, subsystem, components, and fabrication. A tab number, listed in the index, has been assigned each document to facilitate document location.

  18. Intergenerational equity and the social discount rate

    OpenAIRE

    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...

  19. Design and analysis of a dead volume control for a solar Stirling engine with induction generator

    International Nuclear Information System (INIS)

    Beltrán-Chacon, Ricardo; Leal-Chavez, Daniel; Sauceda, D.; Pellegrini-Cervantes, Manuel; Borunda, Mónica

    2015-01-01

    In this work, a power generation system dish/Stirling with cavity receiver and an electrical induction generator was simulated. We propose a control system using a variable-dead-volume and analyze its influence on the mechanical performance. A system with a dead volume of 160 cm"3 was designed to control the power and speed of the engine considering annual insolation, mechanical properties of the heater and the limits of frequency and voltage for the systems interconnected to the electricity network. The designed system achieves net efficient solar conversion to electric of 23.38% at an irradiance of 975 W/m"2 and allows an annual increase of 18% of the useful electrical energy compared to a system without control. - Highlights: • Numerical simulation of a nitrogen charged solar Stirling engine for electric power generation. • Design and analysis of a dead volume control for performance increase and power modulation. • Effect of dead space on average working pressure and mass flow rate. • Comparison between dead volume and average pressure control methods. • Impact of Stirling engine control settings on annual generated electric power.

  20. 18 CFR 704.39 - Discount rate.

    Science.gov (United States)

    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...

  1. Secretary Problems: Weights and Discounts

    OpenAIRE

    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...

  2. Hyperbolic Discounting of the Far-Distant Future

    OpenAIRE

    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...

  3. Life cycle costing with a discount rate

    Science.gov (United States)

    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.

  4. Thermoeconomic analysis of storage systems for solar heating and cooling systems: A comparison between variable-volume and fixed-volume tanks

    International Nuclear Information System (INIS)

    Buonomano, Annamaria; Calise, Francesco; Ferruzzi, Gabriele

    2013-01-01

    The paper investigates different control strategies for the thermal storage management in SHC (Solar Heating and Cooling) systems. The SHC system under investigation is based on a field of evacuated solar collectors coupled with a single-stage LiBr–H 2 O absorption chiller; auxiliary thermal energy is supplied by a gas-fired boiler. The SHC is also equipped with a novel thermal storage system, consisting in a variable volume storage tank. It includes three separate tanks and a number of mixers and diverters managed by novel control strategies, based on combinations of series/parallel charging and discharging approaches. The aim of this component is to vary the thermal storage capacity as a function of the combinations of solar radiation availability and user thermal/cooling energy demands. The system allows one to increase the number of active tanks when the time shift between solar energy and user demand is high. Conversely, when this time shift is low, the number of active tanks is automatically reduced. In addition, when the solar energy in excess cannot be stored in such tanks, a heat exchanger is also used in the solar loop for producing DHW (Domestic Hot Water). The analysis is carried out by means of a zero-dimensional transient simulation model, developed by using the TRNSYS software. In order to assess the operating and capital costs of the systems under analysis, an economic model is also proposed. In addition, in order to determine the set of the synthesis/design variables which maximize the system profitability, a parametric analysis was implemented. The novel variable-volume storage system, in both the proposed configurations, was also compared with a constant-volume storage system from the energy and economic points of view. The results showed that the presented storage system allows one to save up to 20% of the natural gas used by the auxiliary boiler only for very high solar fractions. In all the other cases, marginal savings are achieved by the

  5. Optimal Discount Rates for Government Projects

    OpenAIRE

    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...

  6. Essays on Discounting Behavior and Gambling Behavior

    OpenAIRE

    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...

  7. Discounting in economics and climate change

    International Nuclear Information System (INIS)

    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

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

    Science.gov (United States)

    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

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

    Science.gov (United States)

    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.

  10. Evaluation of Deep Discount Fare Strategies

    Science.gov (United States)

    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...

  11. Smoking, Discount Rates, and Returns to Education

    Science.gov (United States)

    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…

  12. Essays on Discounting Behavior and Gambling Behavior

    DEFF Research Database (Denmark)

    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...

  13. Solar Pilot Plant, Phase I. Preliminary design report. Volume III. Collector subsystem. CDRL item 2

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-05-01

    The Honeywell collector subsystem features a low-profile, multifaceted heliostat designed to provide high reflectivity and accurate angular and spatial positioning of the redirected solar energy under all conditions of wind load and mirror attitude within the design operational envelope. The heliostats are arranged in a circular field around a cavity receiver on a tower halfway south of the field center. A calibration array mounted on the receiver tower provides capability to measure individual heliostat beam location and energy periodically. This information and weather data from the collector field are transmitted to a computerized control subsystem that addresses the individual heliostat to correct pointing errors and determine when the mirrors need cleaning. This volume contains a detailed subsystem design description, a presentation of the design process, and the results of the SRE heliostat test program.

  14. Renewable Resources: a national catalog of model projects. Volume 2. Mid-American Solar Energy Complex Region

    Energy Technology Data Exchange (ETDEWEB)

    None

    1980-07-01

    This compilation of diverse conservation and renewable energy projects across the United States was prepared through the enthusiastic participation of solar and alternate energy groups from every state and region. Compiled and edited by the Center for Renewable Resources, these projects reflect many levels of innovation and technical expertise. In many cases, a critique analysis is presented of how projects performed and of the institutional conditions associated with their success or failure. Some 2000 projects are included in this compilation; most have worked, some have not. Information about all is presented to aid learning from these experiences. The four volumes in this set are arranged in state sections by geographic region, coinciding with the four Regional Solar Energy Centers. The table of contents is organized by project category so that maximum cross-referencing may be obtained. This volume includes information on the Mid-American Solar Energy Complex Region. (WHK)

  15. Survey of time preference, delay discounting models

    Directory of Open Access Journals (Sweden)

    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

  16. Discounting Behaviour and the Magnitude Effect

    DEFF Research Database (Denmark)

    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...

  17. Solar central receiver hybrid power system, Phase I. Volume 3. Appendices. Final technical report, October 1978-August 1979

    Energy Technology Data Exchange (ETDEWEB)

    None

    1979-09-01

    A design study for a central receiver/fossil fuel hybrid power system using molten salts for heat transfer and heat storage is presented. This volume contains the appendices: (A) parametric salt piping data; (B) sample heat exchanger calculations; (C) salt chemistry and salt/materials compatibility evaluation; (D) heliostat field coordinates; (E) data lists; (F) STEAEC program input data; (G) hybrid receiver design drawings; (H) hybrid receiver absorber tube thermal math model; (I) piping stress analysis; (J) 100-MWe 18-hour storage solar central receiver hybrid power system capital cost worksheets; and (K) 500-MWe 18-hour solar central receiver hybrid power system cost breakdown. (WHK)

  18. Positive mood effects on delay discounting.

    Science.gov (United States)

    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).

  19. Discounting risks in the far future

    International Nuclear Information System (INIS)

    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

  20. Time management problems and discounted utility.

    Science.gov (United States)

    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.

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

    DEFF Research Database (Denmark)

    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...

  2. 7 CFR 1786.153 - Discounted present value.

    Science.gov (United States)

    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...

  3. 7 CFR 1786.53 - Discounted present value.

    Science.gov (United States)

    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...

  4. TD Waterhouse discount brokerage: a competitive strategy

    OpenAIRE

    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...

  5. Discounting Models for Outcomes over Continuous Time

    DEFF Research Database (Denmark)

    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....

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

    Directory of Open Access Journals (Sweden)

    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.

  7. Proceedings of the 18th national passive solar conference. Volume 18

    International Nuclear Information System (INIS)

    Burley, S.; Arden, M.E.

    1993-01-01

    The American Solar Energy Society conducts the National Solar Energy Conference as an annual forum for exchange of information about advances in solar energy technologies, programs, and concepts. The SOLAR 93 conference presented papers on the following topics: passive design tools; passive performance; building case studies; passive components, construction and glazing; daylighting; passive cooling; sustainability theory; sustainability projects; vernacular architecture; emerging architecture; and education. A total of forty-nine papers were indexed separately for the data base

  8. Economic Feasibility and Market Readiness of Solar Technologies. Draft Final Report. Volume I.

    Energy Technology Data Exchange (ETDEWEB)

    Flaim, Silvio J.; Buchanan, Deborah L.; Christmas, Susan; Fellhauer, Cheryl; Glenn, Barbara; Ketels, Peter A.; Levary, Arnon; Mourning, Pete; Steggerda, Paul; Trivedi, Harit; Witholder, Robert E.

    1978-09-01

    Systems descriptions, costs, technical and market readiness assessments are reported for ten solar technologies: solar heating and cooling of buildings (SHACOB), passive, agricultural and industrial process heat (A/IPH), biomass, ocean thermal (OTEC), wind (WECS), solar thermal electric, photovoltaics, satellite power station (SPS), and solar total energy systems (STES). Study objectives, scope, and methods. are presented. of Joint Task The cost and market analyses portion 5213/6103 will be used to make commercialization assessments in the conclusions of. the final report.

  9. Cost Analysis of an Air Brayton Receiver for a Solar Thermal Electric Power System in Selected Annual Production Volumes

    Science.gov (United States)

    1981-01-01

    Pioneer Engineering and Manufacturing Company estimated the cost of manufacturing and Air Brayton Receiver for a Solar Thermal Electric Power System as designed by the AiResearch Division of the Garrett Corporation. Production costs were estimated at annual volumes of 100; 1,000; 5,000; 10,000; 50,000; 100,000 and 1,000,000 units. These costs included direct labor, direct material and manufacturing burden. A make or buy analysis was made of each part of each volume. At high volumes special fabrication concepts were used to reduce operation cycle times. All costs were estimated at an assumed 100% plant capacity. Economic feasibility determined the level of production at which special concepts were to be introduced. Estimated costs were based on the economics of the last half of 1980. Tooling and capital equipment costs were estimated for ach volume. Infrastructure and personnel requirements were also estimated.

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

    OpenAIRE

    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...

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

    Science.gov (United States)

    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.

  12. Solar Pilot Plant, Phase I. Preliminary design report. Volume II. System description and system analysis. CDRL item 2

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-05-01

    Honeywell conducted a parametric analysis of the 10-MW(e) solar pilot plant requirements and expected performance and established an optimum system design. The main analytical simulation tools were the optical (ray trace) and the dynamic simulation models. These are described in detail in Books 2 and 3 of this volume under separate cover. In making design decisions, available performance and cost data were used to provide a design reflecting the overall requirements and economics of a commercial-scale plant. This volume contains a description of this analysis/design process and resultant system/subsystem design and performance.

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

    Science.gov (United States)

    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

  14. SOLERAS - Solar Controlled Environment Agriculture Project. Final report, Volume 4. Saudi Engineering Solar Energy Applications System Design Study

    Energy Technology Data Exchange (ETDEWEB)

    1985-01-01

    Literature summarizing a study on the Saudi Arabian solar controlled environment agriculture system is presented. Specifications and performance requirements for the system components are revealed. Detailed performance and cost analyses are used to determine the optimum design. A preliminary design of an engineering field test is included. Some weather data are provided for Riyadh, Saudi Arabia. (BCS)

  15. 77 FR 68886 - Rate for Use in Federal Debt Collection and Discount and Rebate Evaluation

    Science.gov (United States)

    2012-11-16

    ... DEPARTMENT OF THE TREASURY Fiscal Service Rate for Use in Federal Debt Collection and Discount and... responsible for computing and publishing the percentage rate to be used in assessing interest charges for outstanding debts owed to the Government. Treasury's Cash Management Requirements (TFM Volume I, Part 6...

  16. Explicit information reduces discounting behavior in monkeys

    Directory of Open Access Journals (Sweden)

    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.

  17. Electricity from photovoltaic solar cells: Flat-Plate Solar Array Project final Report. Volume II: Silicon material

    OpenAIRE

    Lutwack, R.

    1986-01-01

    The Flat-Plate Solar Array (FSA) Project, funded by the U.S. Government and managed by the Jet Propulsion Laboratory, was formed in 1975 to develop the module/array technology needed to attain widespread terrestrial use of photovoltaics by 1985. To accomplish this, the FSA Project established and managed an Industry, University, and Federal Government Team to perform the needed research and development. The goal of the Silicon Material Task, a part of the FSA Project, was to develop and ...

  18. 10% discount at Novae restaurants for students

    CERN Document Server

    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.

  19. High-Performance Home Technologies: Solar Thermal & Photovoltaic Systems; Volume 6 Building America Best Practices Series

    Energy Technology Data Exchange (ETDEWEB)

    None

    2007-06-01

    The sixth volume of the Building America Best Practices Series presents information that is useful throughout the U.S. for enhancing the energy efficiency practices in the specific climate zones that are presented in each of the volumes.

  20. Data catalog series for space science and applications flight missions. Volume 5A: Descriptions of astronomy, astrophysics, and solar physics spacecraft and investigations. Volume 5B: Descriptions of data sets from astronomy, astrophysics, and solar physics spacecraft and investigations

    Science.gov (United States)

    Kim, Sang J. (Editor)

    1988-01-01

    The main purpose of the data catalog series is to provide descriptive references to data generated by space science flight missions. The data sets described include all of the actual holdings of the Space Science Data Center (NSSDC), all data sets for which direct contact information is available, and some data collections held and serviced by foreign investigators, NASA and other U.S. government agencies. This volume contains narrative descriptions of data sets of astronomy, astrophysics, solar physics spacecraft and investigations. The following spacecraft series are included: Mariner, Pioneer, Pioneer Venus, Venera, Viking, Voyager, and Helios. Separate indexes to the planetary and interplanetary missions are also provided.

  1. Discounts at the Carlson Wagonlit travel agency

    CERN Document Server

    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.

  2. Skiba points for small discount rates

    NARCIS (Netherlands)

    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

  3. Climate policy under sustainable discounted utilitarianism

    Energy Technology Data Exchange (ETDEWEB)

    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.)

  4. Discounted Markov games : generalized policy iteration method

    NARCIS (Netherlands)

    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.

  5. Uncertain discount rates in climate policy analysis

    International Nuclear Information System (INIS)

    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

  6. A Delay Discounting Model of Psychotherapy Termination

    Science.gov (United States)

    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…

  7. Win-Win Strategies at Discount Stores

    NARCIS (Netherlands)

    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

  8. Book Discounts and Cost-Plus Pricing

    Science.gov (United States)

    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)

  9. Error Discounting in Probabilistic Category Learning

    Science.gov (United States)

    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…

  10. Preliminary design of the Carrisa Plains solar central receiver power plant. Volume I. Executive summary

    Energy Technology Data Exchange (ETDEWEB)

    1983-12-31

    The design of the 30 MWe central receiver solar power plant to be located at Carrisa Plains, San Luis Obispo County, California, is summarized. The plant uses a vertical flat-panel (billboard) solar receiver located at the top of a tower to collect solar energy redirected by approximately 1900 heliostats located to the north of the tower. The solar energy is used to heat liquid sodium pumped from ground level from 610 to 1050/sup 0/F. The power conversion system is a non-reheat system, cost-effective at this size level, and designed for high-efficiency performance in an application requiring daily startup. Successful completion of this project will lead to power generation starting in 1986. This report also discusses plant performance, operations and maintenance, development, and facility cost estimate and economic analysis.

  11. Advancement in solar evaporation techniques for volume reduction of chemical effluents

    Energy Technology Data Exchange (ETDEWEB)

    Parakasamurthy, K S [Nuclear Fuel Complex, Hyderabad (India); Pande, D P [Process Engineering and Systems Development Division, Bhabha Atomic Research Centre, Mumbai (India)

    1994-06-01

    A typical example of advancement of a unit operation for the given requirement is described. The solar evaporation ponds (SEP) have technical and economic advantages compared to other evaporation methods for concentrating chemical effluents. The operation of SEP is strongly dependent on the environmental and site conditions. Tropical conditions with high solar incidence, good wind speed along with hot and dry weather provide suitable climate for efficient operation of solar evaporation ponds. The particular site selected for the ponds at Nuclear Fuel Complex (NFC) has a rocky terrain with murrum over sheet with very low water table and small velocity of groundwater. During the past twenty five years extensive theoretical and experimental investigations have been carried out for advancement of solar evaporation technique. (author). 7 refs.

  12. Flat-plate solar array project. Volume 3: Silicon sheet: Wafers and ribbons

    Science.gov (United States)

    Briglio, A.; Dumas, K.; Leipold, M.; Morrison, A.

    1986-01-01

    The primary objective of the Silicon Sheet Task of the Flat-Plate Solar Array (FSA) Project was the development of one or more low cost technologies for producing silicon sheet suitable for processing into cost-competitive solar cells. Silicon sheet refers to high purity crystalline silicon of size and thickness for fabrication into solar cells. Areas covered in the project were ingot growth and casting, wafering, ribbon growth, and other sheet technologies. The task made and fostered significant improvements in silicon sheet including processing of both ingot and ribbon technologies. An additional important outcome was the vastly improved understanding of the characteristics associated with high quality sheet, and the control of the parameters required for higher efficiency solar cells. Although significant sheet cost reductions were made, the technology advancements required to meet the task cost goals were not achieved.

  13. Advancement in solar evaporation techniques for volume reduction of chemical effluents

    International Nuclear Information System (INIS)

    Parakasamurthy, K.S.; Pande, D.P.

    1994-01-01

    A typical example of advancement of a unit operation for the given requirement is described. The solar evaporation ponds (SEP) have technical and economic advantages compared to other evaporation methods for concentrating chemical effluents. The operation of SEP is strongly dependent on the environmental and site conditions. Tropical conditions with high solar incidence, good wind speed along with hot and dry weather provide suitable climate for efficient operation of solar evaporation ponds. The particular site selected for the ponds at Nuclear Fuel Complex (NFC) has a rocky terrain with murrum over sheet with very low water table and small velocity of groundwater. During the past twenty five years extensive theoretical and experimental investigations have been carried out for advancement of solar evaporation technique. (author)

  14. Measurement-theoretic foundations of time discounting in economics

    OpenAIRE

    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...

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

    Science.gov (United States)

    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.

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

    NARCIS (Netherlands)

    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

  17. Discount-Optimal Infinite Runs in Priced Timed Automata

    DEFF Research Database (Denmark)

    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...

  18. 48 CFR 952.251-70 - Contractor employee travel discounts.

    Science.gov (United States)

    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...

  19. 7 CFR 1786.98 - Discounted present value.

    Science.gov (United States)

    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...

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

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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…

  2. Building America Best Practices Series, Volume 6: High-Performance Home Technologies: Solar Thermal & Photovoltaic Systems

    Energy Technology Data Exchange (ETDEWEB)

    Baechler, Michael C.; Gilbride, Theresa L.; Ruiz, Kathleen A.; Steward, Heidi E.; Love, Pat M.

    2007-06-04

    This guide is was written by PNNL for the US Department of Energy's Building America program to provide information for residential production builders interested in building near zero energy homes. The guide provides indepth descriptions of various roof-top photovoltaic power generating systems for homes. The guide also provides extensive information on various designs of solar thermal water heating systems for homes. The guide also provides construction company owners and managers with an understanding of how solar technologies can be added to their homes in a way that is cost effective, practical, and marketable. Twelve case studies provide examples of production builders across the United States who are building energy-efficient homes with photovoltaic or solar water heating systems.

  3. Characterization of solar thermal concepts for electricity generation: Volume 1, Analyses and evaluation

    Energy Technology Data Exchange (ETDEWEB)

    Williams, T.A.; Dirks, J.A.; Brown, D.R.; Drost, M.K.; Antoniac, Z.A.; Ross, B.A.

    1987-03-01

    This study is aimed at providing a relative comparison of the thermodynamic and economic performance in electric applications of several concepts that have been studied and developed in the DOE solar thermal program. Since the completion of earlier systems comparison studies in the late 1970's, there have been a number of years of progress in solar thermal technology. This progress has included development of new solar components, improvements in component and system design detail, construction of working systems, and collection of operating data on the systems. This study provides an updating of the expected performance and cost of the major components and the overall system energy cost for the concepts evaluated. The projections in this study are for the late 1990's time frame, based on the capabilities of the technologies that could be expected to be achieved with further technology development.

  4. SOLERAS - Solar Controlled Environment Agriculture Project. Final report, Volume 1. Project summary

    Energy Technology Data Exchange (ETDEWEB)

    1985-12-30

    A summary of the Solar Controlled Environment Agriculture Project is presented. The design of the greenhouses include transparent double pane glass roof with channels for fluid between the panes, inner pane tinted and double pane extruded acrylic aluminized mylar shade and diffuser. Solar energy technologies provide power for water desalination, for pumping irrigation water, and for cooling and heating the controlled environment space so that crops can grow in arid lands. The project is a joint effort between the United States and Saudi Arabia. (BCS)

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

    Science.gov (United States)

    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

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

    Science.gov (United States)

    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.

  7. Dynamic evolution of the source volumes of gradual and impulsive solar flare emissions

    Science.gov (United States)

    Bruner, M. E.; Crannell, C. J.; Goetz, F.; Magun, A.; Mckenzie, D. L.

    1988-01-01

    This study compares flare source volumes inferred from impulsive hard X-rays and microwaves with those derived from density sensitive soft X-ray line ratios in the O VII spectrum. The data for this study were obtained with the SMM Hard X-ray Burst Spectrometer, Earth-based radio observatories, and the SOLEX-B spectrometer on the P78-1 satellite. Data were available for the flares of 1980 April 8, 1980 May 9, and 1981 February 26. The hard X-ray/microwave source volume is determined under the assumption that the same electron temperature or power law index characterizes both the source of hard X-rays and the source of microwaves. The O VII line ratios yield the density and volume of the 2 x 10 to the 6th K plasma. For all three flares, the O VII source volume is found to be smallest at the beginning of the flare, near the time when the impulsive hard X-ray/microwave volume reaches its first maximum. At this time, the O VII volume is three to four orders of magnitude smaller than that inferred from the hard X-ray/microwave analysis. Subsequently, the O VII source volume increases by one or two orders of magnitude then remains almost constant until the end of the flare when it apparently increases again.

  8. Dynamic evolution of the source volumes of gradual and impulsive solar flare emissions

    International Nuclear Information System (INIS)

    Bruner, M.E.; Crannell, C.J.; Goetz, F.; Magun, A.; Mckenzie, D.L.

    1987-12-01

    This study compares flare source volumes inferred from impulsive hard x rays and microwaves with those derived from density sensitive soft x ray line ratios in the O VII spectrum. The data for this study were obtained with the SMM Hard X-Ray Burst Spectrometer, Earth-based radio observatories, and the SOLEX-B spectrometer on the P78-1 satellite. Data were available for the flares of 1980 April 8, 1980 May 9, and 1981 February 26. The hard x ray/microwave source volume is determined under the assumption that the same electron temperature or power law index characterizes both the source of hard x rays and the source of microwaves. The O VII line ratios yield the density and volume of the 2 X 10 to the 6th K plasma. For all three flares, the O VII source volume is found to be smallest at the beginning of the flare, near the time when the impulsive hard x ray/microwave volume reaches its first maximum. At this time, the O VII volume is three to four orders of magnitude smaller than that inferred from the hard x ray/microwave analysis. Subsequently, the O VII source volume increases by one or two orders of magnitude then remains almost constant until the end of the flare when it apparently increases again

  9. Dynamic evolution of the source volumes of gradual and impulsive solar flare emissions

    International Nuclear Information System (INIS)

    Bruner, M.E.; Crannell, C.J.; Goetz, F.; Magun, A.; Mckenzie, D.L.

    1988-01-01

    This study compares flare source volumes inferred from impulsive hard X-rays and microwaves with those derived from density sensitive soft X-ray line ratios in the O VII spectrum. The data for this study were obtained with the SMM Hard X-ray Burst Spectrometer, Earth-based radio observatories, and the SOLEX-B spectrometer on the P78-1 satellite. Data were available for the flares of 1980 April 8, 1980 May 9, and 1981 February 26. The hard X-ray/microwave source volume is determined under the assumption that the same electron temperature or power law index characterizes both the source of hard X-rays and the source of microwaves. The O VII line ratios yield the density and volume of the 2 x 10 to the 6th K plasma. For all three flares, the O VII source volume is found to be smallest at the beginning of the flare, near the time when the impulsive hard X-ray/microwave volume reaches its first maximum. At this time, the O VII volume is three to four orders of magnitude smaller than that inferred from the hard X-ray/microwave analysis. Subsequently, the O VII source volume increases by one or two orders of magnitude then remains almost constant until the end of the flare when it apparently increases again. 29 references

  10. Combined cycle solar central receiver hybrid power system study. Final technical report. Volume II

    Energy Technology Data Exchange (ETDEWEB)

    None

    1979-11-01

    This study develops the conceptual design for a commercial-scale (nominal 100 MWe) central receiver solar/fossil fuel hybrid power system with combined cycle energy conversion. A near-term, metallic heat pipe receiver and an advanced ceramic tube receiver hybrid system are defined through parametric and market potential analyses. Comparative evaluations of the cost of power generation, the fuel displacement potential, and the technological readiness of these two systems indicate that the near-term hybrid system has better potential for commercialization by 1990. Based on the assessment of the conceptual design, major cost and performance improvements are projected for the near-term system. Constraints preventing wide-spread use were not identified. Energy storage is not required for this system and analyses show no economic advantages with energy storage provisions. It is concluded that the solar hybrid system is a cost effective alternative to conventional gas turbines and combined cycle generating plants, and has potential for intermediate-load market penetration at 15% annual fuel escalation rate. Due to their flexibility, simple solar/nonsolar interfacing, and short startup cycles, these hybrid plants have significant operating advantages. Utility company comments suggest that hybrid power systems will precede stand-alone solar plants.

  11. Workshop proceedings: Photovoltaic conversion of solar energy for terrestrial applications. Volume 2: Invited papers

    Science.gov (United States)

    1973-01-01

    A photovoltaic device development plan is reported that considers technological as well as economical aspects of single crystal silicon, polycrystal silicon, cadmium sulfide/copper sulfide thin films, as well as other materials and devices for solar cell energy conversion systems.

  12. Solar power satellite system definition study. Volume 7, phase 1: SPS and rectenna systems analyses

    Science.gov (United States)

    1979-01-01

    A systems definition study of the solar power satellite systems is presented. The design and power distribution of the rectenna system is discussed. The communication subsystem and thermal control characteristics are described and a failure analysis performed on the systems is reported.

  13. Solar neutrino detection in a large volume double-phase liquid argon experiment

    Energy Technology Data Exchange (ETDEWEB)

    Franco, D.; Agnes, P. [APC, Université Paris Diderot, CNRS/IN2P3, CEA/Irfu, Observatoire de Paris, Sorbonne Paris Cité, Paris 75205 (France); Giganti, C.; Agostino, L.; De Cecco, S., E-mail: dfranco@in2p3.fr, E-mail: cgiganti@lpnhe.in2p3.fr, E-mail: pagnes@in2p3.fr, E-mail: lagostin@lpnhe.in2p3.fr, E-mail: sandro.dececco@lpnhe.in2p3.fr [LPNHE Paris, Université Pierre et Marie Curie, Université Paris Diderot, CNRS/IN2P3, Paris 75252 (France); and others

    2016-08-01

    Precision measurements of solar neutrinos emitted by specific nuclear reaction chains in the Sun are of great interest for developing an improved understanding of star formation and evolution. Given the expected neutrino fluxes and known detection reactions, such measurements require detectors capable of collecting neutrino-electron scattering data in exposures on the order of 1 ktonne-yr, with good energy resolution and extremely low background. Two-phase liquid argon time projection chambers (LAr TPCs) are under development for direct Dark Matter WIMP searches, which possess very large sensitive mass, high scintillation light yield, good energy resolution, and good spatial resolution in all three cartesian directions. While enabling Dark Matter searches with sensitivity extending to the ''neutrino floor'' (given by the rate of nuclear recoil events from solar neutrino coherent scattering), such detectors could also enable precision measurements of solar neutrino fluxes using the neutrino-electron elastic scattering events. Modeling results are presented for the cosmogenic and radiogenic backgrounds affecting solar neutrino detection in a 300 tonne (100 tonne fiducial) LAr TPC operating at LNGS depth (3,800 meters of water equivalent). The results show that such a detector could measure the CNO neutrino rate with ∼15% precision, and significantly improve the precision of the {sup 7}Be and pep neutrino rates compared to the currently available results from the Borexino organic liquid scintillator detector.

  14. Solar Heating and Cooling of Buildings (Phase O). Volume 1: Executive Summary.

    Science.gov (United States)

    TRW Systems Group, Redondo Beach, CA.

    The purpose of this study was to establish the technical and economic feasibility of using solar energy for the heating and cooling of buildings. Five selected building types in 14 selected cities were used to determine loads for space heating, space cooling and dehumidification, and domestic service hot water heating. Relying on existing and…

  15. Is there time discounting for risk premium?

    Science.gov (United States)

    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

    DEFF Research Database (Denmark)

    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

    Directory of Open Access Journals (Sweden)

    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. Time discounting and protected-area priorities.

    Science.gov (United States)

    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.

  19. Positive autobiographical memory retrieval reduces temporal discounting.

    Science.gov (United States)

    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.

  20. 1980 survey and evaluation of utility conservation, load management, and solar end-use projects. Volume 3: utility load management projects. Final report

    Energy Technology Data Exchange (ETDEWEB)

    1982-01-01

    The results of the 1980 survey of electric utility-sponsored energy conservation, load management, and end-use solar energy conversion projects are described. The work is an expansion of a previous survey and evaluation and has been jointly sponsored by EPRI and DOE through the Oak Ridge National Laboratory. There are three volumes and a summary document. Each volume presents the results of an extensive survey to determine electric utility involvement in customer-side projects related to the particular technology (i.e., conservation, solar, or load management), selected descriptions of utility projects and results, and first-level technical and economic evaluations.

  1. A Monte Carlo method and finite volume method coupled optical simulation method for parabolic trough solar collectors

    International Nuclear Information System (INIS)

    Liang, Hongbo; Fan, Man; You, Shijun; Zheng, Wandong; Zhang, Huan; Ye, Tianzhen; Zheng, Xuejing

    2017-01-01

    Highlights: •Four optical models for parabolic trough solar collectors were compared in detail. •Characteristics of Monte Carlo Method and Finite Volume Method were discussed. •A novel method was presented combining advantages of different models. •The method was suited to optical analysis of collectors with different geometries. •A new kind of cavity receiver was simulated depending on the novel method. -- Abstract: The PTC (parabolic trough solar collector) is widely used for space heating, heat-driven refrigeration, solar power, etc. The concentrated solar radiation is the only energy source for a PTC, thus its optical performance significantly affects the collector efficiency. In this study, four different optical models were constructed, validated and compared in detail. On this basis, a novel coupled method was presented by combining advantages of these models, which was suited to carry out a mass of optical simulations of collectors with different geometrical parameters rapidly and accurately. Based on these simulation results, the optimal configuration of a collector with highest efficiency can be determined. Thus, this method was useful for collector optimization and design. In the four models, MCM (Monte Carlo Method) and FVM (Finite Volume Method) were used to initialize photons distribution, as well as CPEM (Change Photon Energy Method) and MCM were adopted to describe the process of reflecting, transmitting and absorbing. For simulating reflection, transmission and absorption, CPEM was more efficient than MCM, so it was utilized in the coupled method. For photons distribution initialization, FVM saved running time and computation effort, whereas it needed suitable grid configuration. MCM only required a total number of rays for simulation, whereas it needed higher computing cost and its results fluctuated in multiple runs. In the novel coupled method, the grid configuration for FVM was optimized according to the “true values” from MCM of

  2. Solar Central Receiver Prototype Heliostat. Volume II. Phase II planning (preliminary)

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-06-01

    A currently planned DOE program will develop and construct a 10 MW/sub e/ Pilot Plant to demonstrate the feasibility and operational characteristics of Solar Central Receiver Power Generation. The field of heliostats is a major element of the Solar Central Receiver Power Generation system. The primary objective of the program described is to establish and verify the manufacturability, performance, durability, and maintenance requirements of the commercial plant heliostat design. End products of the 16 month effort include: (1) design, fabrication, and test of heliostats; (2) preliminary designs of manufacturing, assembly, installation, and maintenance processes for quantity production; (3) detailed design of critical tooling or other special equipment for such processes; (4) refined cost estimates for heliostats and maintenance; and (5) an updated commercial plant heliostat preliminary design. The program management and control system is discussed. (WHK)

  3. Study of application of adaptive systems to the exploration of the solar system. Volume 1: Summary

    Science.gov (United States)

    1973-01-01

    The field of artificial intelligence to identify practical applications to unmanned spacecraft used to explore the solar system in the decade of the 80s is examined. If an unmanned spacecraft can be made to adjust or adapt to the environment, to make decisions about what it measures and how it uses and reports the data, it can become a much more powerful tool for the science community in unlocking the secrets of the solar system. Within this definition of an adaptive spacecraft or system, there is a broad range of variability. In terms of sophistication, an adaptive system can be extremely simple or as complex as a chess-playing machine that learns from its mistakes.

  4. High volume method of making low-cost, lightweight solar materials

    Science.gov (United States)

    Blue, Craig A.; Clemens, Art; Duty, Chad E.; Harper, David C.; Ott, Ronald D.; Rivard, John D.; Murray, Christopher S.; Murray, Susan L.; Klein, Andre R.

    2014-07-15

    A thin film solar cell and a method fabricating thin film solar cells on flexible substrates. The method includes including providing a flexible polymeric substrate, depositing a photovoltaic precursor on a surface of the substrate, such as CdTe, ZrTe, CdZnTe, CdSe or Cu(In,Ga)Se.sub.2, and exposing the photovoltaic precursor to at least one 0.5 microsecond to 10 second pulse of predominately infrared light emitted from a light source having a power output of about 20,000 W/cm.sup.2 or less to thermally convert the precursor into a crystalline photovoltaic material having a photovoltaic efficiency of greater than one percent, the conversion being carried out without substantial damage to the substrate.

  5. Commercial applications of solar total energy systems. Volume 3. Conceptual designs and market analyses. Final report

    Energy Technology Data Exchange (ETDEWEB)

    Boobar, M.G.; McFarland, B.L.; Nalbandian, S.J.; Willcox, W.W.; French, E.P.; Smith, K.E.

    1978-07-01

    The overall objective of this program was to assess the feasibility of using solar energy to provide a significant fraction of the energy needs of commercial buildings that have energy demands greater than 200 kWe. The STES concept trade studies, sensitivity parameters, performance characteristics, and selected concepts are discussed. Market penetration rate estimates are provided, and technology advancements and utilization plans are discussed. Photovoltaic STES configurations and Rankine cycle thermal STES systems are considered. (WHK)

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

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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.

  9. Solar Heating And Cooling Of Buildings (SHACOB): Requirements definition and impact analysis-2. Volume 3: Customer load management systems

    Science.gov (United States)

    Cretcher, C. K.; Rountredd, R. C.

    1980-11-01

    Customer Load Management Systems, using off-peak storage and control at the residences, are analyzed to determine their potential for capacity and energy savings by the electric utility. Areas broadly representative of utilities in the regions around Washington, DC and Albuquerque, NM were of interest. Near optimum tank volumes were determined for both service areas, and charging duration/off-time were identified as having the greatest influence on tank performance. The impacts on utility operations and corresponding utility/customer economics were determined in terms of delta demands used to estimate the utilities' generating capacity differences between the conventional load management, (CLM) direct solar with load management (DSLM), and electric resistive systems. Energy differences are also determined. These capacity and energy deltas are translated into changes in utility costs due to penetration of the CLM or DSLM systems into electric resistive markets in the snapshot years of 1990 and 2000.

  10. Fort Hood Solar Total Energy Project. Volume II. Preliminary design. Part 1. System criteria and design description. Final report

    Energy Technology Data Exchange (ETDEWEB)

    None,

    1979-01-01

    This volume documents the preliminary design developed for the Solar Total Energy System to be installed at Fort Hood, Texas. Current system, subsystem, and component designs are described and additional studies which support selection among significant design alternatives are presented. Overall system requirements which form the system design basis are presented. These include program objectives; performance and output load requirements; industrial, statutory, and regulatory standards; and site interface requirements. Material in this section will continue to be issued separately in the Systems Requirements Document and maintained current through revision throughout future phases of the project. Overall system design and detailed subsystem design descriptions are provided. Consideration of operation and maintenance is reflected in discussion of each subsystem design as well as in an integrated overall discussion. Included are the solar collector subsystem; the thermal storage subsystem, the power conversion sybsystem (including electrical generation and distribution); the heating/cooling and domestic hot water subsystems; overall instrumentation and control; and the STES building and physical plant. The design of several subsystems has progressed beyond the preliminary stage; descriptions for such subsystems are therefore provided in more detail than others to provide complete documentation of the work performed. In some cases, preliminary design parameters require specific verificaton in the definitive design phase and are identified in the text. Subsystem descriptions will continue to be issued and revised separately to maintain accuracy during future phases of the project. (WHK)

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

    International Nuclear Information System (INIS)

    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)

  12. On the Dividend Strategies with Non-Exponential Discounting

    OpenAIRE

    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...

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

    Science.gov (United States)

    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

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

    Science.gov (United States)

    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.

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

    OpenAIRE

    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...

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

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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.

  18. Institutional applications of solar total-energy systems. Draft final report. Volume 2. Appendixes

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-07-01

    The appendices present the analytical basis for the analysis of solar total energy (STE) systems. A regional-climate model and a building-load requirements model are developed, along with fuel-price scenarios. Life-cycle costs are compared for conventional-utility, total energy, and STE systems. Thermal STE system design trade-offs are performed and thermal STE system performance is determined. The sensitivity of STE competitiveness to fuel prices is examined. The selection of the photovoltaic array is briefly discussed. The institutional-sector decision processes are analyzed. Hypothetical regional back-up rates and electrical-energy costs are calculated. The algorithms and equations used in operating the market model are given, and a general methodology is developed for projecting the size of the market for STE systems and applied to each of 8 institutional subsectors. (LEW)

  19. Solar thermal technology development: Estimated market size and energy cost savings. Volume 1: Executive summary

    Science.gov (United States)

    Gates, W. R.

    1983-02-01

    Estimated future energy cost savings associated with the development of cost-competitive solar thermal technologies (STT) are discussed. Analysis is restricted to STT in electric applications for 16 high-insolation/high-energy-price states. The fuel price scenarios and three 1990 STT system costs are considered, reflecting uncertainty over future fuel prices and STT cost projections. STT R&D is found to be unacceptably risky for private industry in the absence of federal support. Energy cost savings were projected to range from $0 to $10 billion (1990 values in 1981 dollars), dependng on the system cost and fuel price scenario. Normal R&D investment risks are accentuated because the Organization of Petroleum Exporting Countries (OPEC) cartel can artificially manipulate oil prices and undercut growth of alternative energy sources. Federal participation in STT R&D to help capture the potential benefits of developing cost-competitive STT was found to be in the national interest.

  20. Solar thermal technology development: Estimated market size and energy cost savings. Volume 1: Executive summary

    Science.gov (United States)

    Gates, W. R.

    1983-01-01

    Estimated future energy cost savings associated with the development of cost-competitive solar thermal technologies (STT) are discussed. Analysis is restricted to STT in electric applications for 16 high-insolation/high-energy-price states. The fuel price scenarios and three 1990 STT system costs are considered, reflecting uncertainty over future fuel prices and STT cost projections. STT R&D is found to be unacceptably risky for private industry in the absence of federal support. Energy cost savings were projected to range from $0 to $10 billion (1990 values in 1981 dollars), dependng on the system cost and fuel price scenario. Normal R&D investment risks are accentuated because the Organization of Petroleum Exporting Countries (OPEC) cartel can artificially manipulate oil prices and undercut growth of alternative energy sources. Federal participation in STT R&D to help capture the potential benefits of developing cost-competitive STT was found to be in the national interest.

  1. Solar thermal power systems point-focusing thermal and electric applications projects. Volume 1: Executive summary

    Science.gov (United States)

    Marriott, A.

    1980-01-01

    The activities of the Point-Focusing Thermal and Electric Applications (PETEA) project for the fiscal year 1979 are summarized. The main thrust of the PFTEA Project, the small community solar thermal power experiment, was completed. Concept definition studies included a small central receiver approach, a point-focusing distributed receiver system with central power generation, and a point-focusing distributed receiver concept with distributed power generation. The first experiment in the Isolated Application Series was initiated. Planning for the third engineering experiment series, which addresses the industrial market sector, was also initiated. In addition to the experiment-related activities, several contracts to industry were let and studies were conducted to explore the market potential for point-focusing distributed receiver (PFDR) systems. System analysis studies were completed that looked at PFDR technology relative to other small power system technology candidates for the utility market sector.

  2. Flat-plate solar array project. Volume 6: Engineering sciences and reliability

    Science.gov (United States)

    Ross, R. G., Jr.; Smokler, M. I.

    1986-01-01

    The Flat-Plate Solar Array (FSA) Project activities directed at developing the engineering technology base required to achieve modules that meet the functional, safety, and reliability requirements of large scale terrestrial photovoltaic systems applications are reported. These activities included: (1) development of functional, safety, and reliability requirements for such applications; (2) development of the engineering analytical approaches, test techniques, and design solutions required to meet the requirements; (3) synthesis and procurement of candidate designs for test and evaluation; and (4) performance of extensive testing, evaluation, and failure analysis of define design shortfalls and, thus, areas requiring additional research and development. A summary of the approach and technical outcome of these activities are provided along with a complete bibliography of the published documentation covering the detailed accomplishments and technologies developed.

  3. Positive autobiographical memory retrieval reduces temporal discounting

    Science.gov (United States)

    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

  4. Intergenerational transfers and the social discount rate

    International Nuclear Information System (INIS)

    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

  5. Analysis of the economic potential of solar thermal energy to provide industrial process heat. Final report, Volume I. [In-depth analysis of 78 industries

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-02-07

    The process heat data base assembled as the result of this survey includes specific process applications from 78 four-digit Standard Industrial Classification (SIC) groups. These applications account for the consumption of 9.81 quadrillion Btu in 1974, about 59 percent of the 16.6 quadrillion Btu estimated to have been used for all process heat in 1974. About 7/sup 1///sub 2/ percent of industrial process heat is used below 212/sup 0/F (100/sup 0/C), and 28 percent below 550/sup 0/F (288/sup 0/C). In this study, the quantitative assessment of the potential of solar thermal energy systems to provide industrial process heat indicates that solar energy has a maximum potential to provide 0.6 quadrillion Btu per year in 1985, and 7.3 quadrillion Btu per year in 2000, in economic competition with the projected costs of conventional fossil fuels for applications having a maximum required temperature of 550/sup 0/ (288/sup 0/C). A wide variety of collector types were compared for performance and cost characteristics. Performance calculations were carried out for a baseline solar system providing hot water in representative cities in six geographical regions within the U.S. Specific industries that should have significant potential for solar process heat for a variety of reasons include food, textiles, chemicals, and primary metals. Lumber and wood products, and paper and allied products also appear to have significant potential. However, good potential applications for solar process heat can be found across the board throughout industry. Finally, an assessment of nontechnical issues that may influence the use of solar process heat in industry showed that the most important issues are the establishment of solar rights, standardization and certification for solar components and systems, and resolution of certain labor-related issues. (Volume 1 of 3 volumes.)

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

    Science.gov (United States)

    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.

  7. Flat-plate solar array project. Volume 8: Project analysis and integration

    Science.gov (United States)

    Mcguire, P.; Henry, P.

    1986-01-01

    Project Analysis and Integration (PA&I) performed planning and integration activities to support management of the various Flat-Plate Solar Array (FSA) Project R&D activities. Technical and economic goals were established by PA&I for each R&D task within the project to coordinate the thrust toward the National Photovoltaic Program goals. A sophisticated computer modeling capability was developed to assess technical progress toward meeting the economic goals. These models included a manufacturing facility simulation, a photovoltaic power station simulation and a decision aid model incorporating uncertainty. This family of analysis tools was used to track the progress of the technology and to explore the effects of alternative technical paths. Numerous studies conducted by PA&I signaled the achievement of milestones or were the foundation of major FSA project and national program decisions. The most important PA&I activities during the project history are summarized. The PA&I planning function is discussed and how it relates to project direction and important analytical models developed by PA&I for its analytical and assessment activities are reviewed.

  8. Parabolic discounting of monetary rewards by physical effort

    NARCIS (Netherlands)

    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

  9. Zero discounting can compensate future generations for climate damage

    NARCIS (Netherlands)

    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

  10. Internet Addiction and Delay Discounting in College Students

    Science.gov (United States)

    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…

  11. Accounting conventions for discounting in the optimisation of protection

    International Nuclear Information System (INIS)

    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.)

  12. The Students Decision Making in Solving Discount Problem

    Science.gov (United States)

    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…

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

    Science.gov (United States)

    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.

  14. The Contrast Effect in Temporal and Probabilistic Discounting

    Science.gov (United States)

    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

  15. Value of the future: Discounting in random environments

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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.

  17. WORK COMPETENCES AT WESTERN BANK DISCOUNT

    Directory of Open Access Journals (Sweden)

    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.

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

    OpenAIRE

    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...

  19. 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

    OpenAIRE

    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...

  20. Discounting human lives: Uranium and global equity

    International Nuclear Information System (INIS)

    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

  1. Solar Central Receiver Hybrid Power Systems sodium-cooled receiver concept. Final report. Volume II, Book 2. Conceptual design, Sections 5 and 6

    Energy Technology Data Exchange (ETDEWEB)

    None

    1980-01-01

    The overall, long-term objective of the Solar Central Receiver Hybrid Power System program is to identify, characterize, and ultimately demonstrate the viability and cost effectiveness of solar/fossil, steam Rankine cycle, hybrid power systems that: (1) consist of a combined solar central receiver energy source and a nonsolar energy source at a single, common site, (2) may operate in the base, intermediate, and peaking capacity modes, (3) produce the rated output independent of variations in solar insolation, (4) provide a significant savings (50% or more) in fuel consumption, and (5) produce power at the minimum possible cost in mills/kWh. It is essential that these hybrid concepts be technically feasible and economically competitive with other systems in the near to mid-term time period (1985-1990) on a commercial scale. The program objective for Phase I is to identify and conceptually characterize solar/fossil steam Rankine cycle, commercial-scale, power plant systems that are economically viable and technically feasible. This volume contains the detailed conceptual design and cost/performance estimates and an assessment of the commercial scale solar central receiver hybrid power system. (WHK)

  2. Left Atrial Volume Index and Prediction of Events in Acute Coronary Syndrome: Solar Registry

    Directory of Open Access Journals (Sweden)

    Jose Alves Secundo Junior

    2014-10-01

    Full Text Available Background: According to some international studies, patients with acute coronary syndrome (ACS and increased left atrial volume index (LAVI have worse long-term prognosis. However, national Brazilian studies confirming this prediction are still lacking. Objective: To evaluate LAVI as a predictor of major cardiovascular events (MCE in patients with ACS during a 365-day follow-up. Methods: Prospective cohort of 171 patients diagnosed with ACS whose LAVI was calculated within 48 hours after hospital admission. According to LAVI, two groups were categorized: normal LAVI (≤ 32 mL/m2 and increased LAVI (> 32 mL/m2. Both groups were compared regarding clinical and echocardiographic characteristics, in- and out-of-hospital outcomes, and occurrence of ECM in up to 365 days. Results: Increased LAVI was observed in 78 patients (45%, and was associated with older age, higher body mass index, hypertension, history of myocardial infarction and previous angioplasty, and lower creatinine clearance and ejection fraction. During hospitalization, acute pulmonary edema was more frequent in patients with increased LAVI (14.1% vs. 4.3%, p = 0.024. After discharge, the occurrence of combined outcome for MCE was higher (p = 0.001 in the group with increased LAVI (26% as compared to the normal LAVI group (7% [RR (95% CI = 3.46 (1.54-7.73 vs. 0.80 (0.69-0.92]. After Cox regression, increased LAVI increased the probability of MCE (HR = 3.08, 95% CI = 1.28-7.40, p = 0.012. Conclusion: Increased LAVI is an important predictor of MCE in a one-year follow-up.

  3. Manufacturing cost analysis of a parabolic dish concentrator (General Electric design) for solar thermal electric power systems in selected production volumes

    Science.gov (United States)

    1981-01-01

    The manufacturing cost of a General Electric 12 meter diameter concentrator was estimated. This parabolic dish concentrator for solar thermal system was costed in annual production volumes of 100 - 1,000 - 5,000 - 10,000 - 50,000 100,000 - 400,000 and 1,000,000 units. Presented for each volume are the costs of direct labor, material, burden, tooling, capital equipment and buildings. Also presented is the direct labor personnel and factory space requirements. All costs are based on early 1981 economics.

  4. Incomplete information and the closed-end fund discount

    OpenAIRE

    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...

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

    DEFF Research Database (Denmark)

    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...

  6. Discounted cost model for condition-based maintenance optimization

    International Nuclear Information System (INIS)

    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.

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

    DEFF Research Database (Denmark)

    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....

  8. Solar Central Receiver Hybrid Power Systems sodium-cooled receiver concept. Final report. Volume II, Book 1. Conceptual design, Sections 1 through 4

    Energy Technology Data Exchange (ETDEWEB)

    None

    1980-01-01

    The overall, long-term objective of the Solar Central Receiver Hybrid Power System program is to identify, characterize, and ultimately demonstrate the viability and cost effectiveness of solar/fossil, steam Rankine cycle, hybrid power systems that: (1) consist of a combined solar central receiver energy source and a nonsolar energy source at a single, common site, (2) may operate in the base, intermediate, and peaking capacity modes, (3) produce the rated output independent of variations in solar insolation, (4) provide a significant savings (50% or more) in fuel consumption, and (5) produce power at the minimum possible cost in mills/kWh. It is essential that these hybrid concepts be technically feasible and economically competitive with other systems in the near to mid-term time period (1985-1990) on a commercial scale. The program objective for Phase I is to identify and conceptually characterize solar/fossil steam Rankine cycle, commercial-scale, power plant systems that are economically viable and technically feasible. This volume presents in detail the market analysis, parametric analysis, and the selection process for the preferred system. (WHK)

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

    Directory of Open Access Journals (Sweden)

    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.

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

    Science.gov (United States)

    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.

  11. A social discounting model based on Tsallis’ statistics

    Science.gov (United States)

    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.

  12. Review of assessment methods discount rate in investment analysis

    Directory of Open Access Journals (Sweden)

    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.

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

    Science.gov (United States)

    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.

  14. Online Discount Luxury: In Search of Guilty Customers

    Directory of Open Access Journals (Sweden)

    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.

  15. Discounting of quantity surveying fees in South Africa

    African Journals Online (AJOL)

    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,.

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

    International Nuclear Information System (INIS)

    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.

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

    Science.gov (United States)

    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.

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

    Directory of Open Access Journals (Sweden)

    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.

  19. Delayed discounting of pain with and without monetary reward

    Directory of Open Access Journals (Sweden)

    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.

  20. Solar fuels and chemicals system design study (ammonia/nitric acid production process). Volume 2. Conceptual design. Final report

    Energy Technology Data Exchange (ETDEWEB)

    1986-06-01

    As part of the Solar Central Receiver Fuels and Chemicals Program, Foster Wheeler Solar Development Corporation (FWSDC), under contract to Sandia National Laboratories-Livermore (SNLL), developed a conceptual design of a facility to produce ammonia and nitric acid using solar energy as the principal external source of process heat. In the selected process, ammonia is produced in an endothermic reaction within a steam methane (natural gas) reformer. The heat of reaction is provided by molten carbonate salt heated by both a solar central receiver and an exothermic ammonia-fired heater. After absorption by water, the product of the latter reaction is nitric acid.

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

    OpenAIRE

    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 ...

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

    OpenAIRE

    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...

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

    Science.gov (United States)

    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.

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

    Energy Technology Data Exchange (ETDEWEB)

    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.

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

    International Nuclear Information System (INIS)

    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

  6. Workshop proceedings: Photovoltaic conversion of solar energy for terrestrial applications. Volume 1: Working group and panel reports

    Science.gov (United States)

    1973-01-01

    Technological aspects of solar energy conversion by photovoltaic cells are considered. The advantage of the single crystal silicon solar cell approach is developed through comparisons with polycrystalline silicon, cadmium sulfide/copper sulfide thin film cells, and other materials and devices.

  7. Space-based solar power conversion and delivery systems study. Volume 2: Engineering analysis of orbital systems

    Science.gov (United States)

    1976-01-01

    Program plans, schedules, and costs are determined for a synchronous orbit-based power generation and relay system. Requirements for the satellite solar power station (SSPS) and the power relay satellite (PRS) are explored. Engineering analysis of large solar arrays, flight mechanics and control, transportation, assembly and maintenance, and microwave transmission are included.

  8. Time discounting and pain anticipation. Experimental evidence

    Directory of Open Access Journals (Sweden)

    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.

  9. Estimation of social discount rate for Lithuania

    Directory of Open Access Journals (Sweden)

    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

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

    Science.gov (United States)

    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.

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

    Directory of Open Access Journals (Sweden)

    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.

  12. Comparative ranking of 0. 1-10 MW/sub e/ solar thermal electric power systems. Volume II. Supporting data. Final report

    Energy Technology Data Exchange (ETDEWEB)

    Thornton, J.P.; Brown, K.C.; Finegold, J.G.; Gresham, J.B.; Herlevich, F.A.; Kriz, T.A.

    1980-07-01

    This report is part of a two-volume set summarizing the results of a comparative ranking of generic solar thermal concepts designed specifically for electric power generation. The original objective of the study was to project the mid-1990 cost and performance of selected generic solar thermal electric power systems for utility applications and to rank these systems by criteria that reflect their future commercial acceptance. This study considered plants with rated capacities of 1-10 MW/sub e/, operating over a range of capacity factors from the no-storage case to 0.7 and above. Later, the study was extended to include systems with capacities from 0.1 to 1 MW/sub e/, a range that is attractive to industrial and other nonutility applications. Volume I summarizes the results for the full range of capacities from 0.1 to 1.0 MW/sub e/. Volume II presents data on the performance and cost and ranking methodology.

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

    International Nuclear Information System (INIS)

    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

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

    Science.gov (United States)

    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…

  15. Fort Hood Solar Total Energy Project. Volume II. Preliminary design. Part 2. System performance and supporting studies. Final report

    Energy Technology Data Exchange (ETDEWEB)

    None,

    1979-01-01

    The preliminary design developed for the Solar Total Energy System to be installed at Fort Hood, Texas, is presented. System performance analysis and evaluation are described. Feedback of completed performance analyses on current system design and operating philosophy is discussed. The basic computer simulation techniques and assumptions are described and the resulting energy displacement analysis is presented. Supporting technical studies are presented. These include health and safety and reliability assessments; solar collector component evaluation; weather analysis; and a review of selected trade studies which address significant design alternatives. Additional supporting studies which are generally specific to the installation site are reported. These include solar availability analysis; energy load measurements; environmental impact assessment; life cycle cost and economic analysis; heat transfer fluid testing; meteorological/solar station planning; and information dissemination. (WHK)

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

    Science.gov (United States)

    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

  17. Solar High-energy Astrophysical Plasmas Explorer (SHAPE). Volume 1: Proposed concept, statement of work and cost plan

    Science.gov (United States)

    Dennis, Brian R.; Martin, Franklin D.; Prince, T.; Lin, R.; Bruner, M.; Culhane, L.; Ramaty, R.; Doschek, G.; Emslie, G.; Lingenfelter, R.

    1986-01-01

    The concept of the Solar High-Energy Astrophysical Plasmas Explorer (SHAPE) is studied. The primary goal is to understand the impulsive release of energy, efficient acceleration of particles to high energies, and rapid transport of energy. Solar flare studies are the centerpieces of the investigation because in flares these high energy processes can be studied in unmatched detail at most wavelenth regions of the electromagnetic spectrum as well as in energetic charged particles and neutrons.

  18. Regional applicability and potential of salt-gradient solar ponds in the United States. Volume 2: Detailed report

    Science.gov (United States)

    Lin, E. I. H.

    1982-03-01

    A comprehensive assessment of the regional applicability and potential of salt-gradient solar ponds in the United States is provided. The assessment is focused on the general characteristics of twelve defined geographic regions. Natural resources essential to solar ponds are surveyed. Meteorological and hydrogeological conditions affecting pond performance are examined. Potentially favorable pond sites are identified. Regional thermal and electrical energy output from solar ponds is calculated. Selected pond design cases are studied. Five major potential market sectors are evaluated in terms of technical and energy-consumption characteristics, and solar-pond applicability and potential. Relevant pond system data and financial factors are analyzed. Solar-pond energy costs are compared with conventional energy costs. The assessment concludes that, excepting Alaska, ponds are applicable in all regions for at least two market sectors. Total solar pond energy supply potential in the five market sectors examined is estimated to be 8.94 quads/yr by the year 2000, approximately 7.2% of the projected total national energy demand.

  19. Temporal discounting and heart rate reactivity to stress.

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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.

  1. Description, prescription and the choice of discount rates

    International Nuclear Information System (INIS)

    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)

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

    Science.gov (United States)

    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.

  3. The 10 MWe Solar Thermal Central Receiver Pilot Plant: Solar facilities design integration. Pilot-plant station manual (RADL Item 2-1). Volume 1: System description

    Science.gov (United States)

    1982-09-01

    The complete Barstow Solar Pilot Plant is described. The plant requirements and general description are presented, the mechanical, electric power, and control and instrumentation systems as well as civil engineering and structural aspects and the station buildings are described. Included in the mechanical systems are the heliostats, receiver, thermal storage system, beam characterization system, steam, water, nitrogen, and compressed air systems, chemical feed system, fire protection system, drains, sumps and the waste disposal systems, and heating, ventilating, and air conditioning systems.

  4. Characterization of solar cells for space applications. Volume 11: Electrical characteristics of 2 ohm-cm, 228 micron wraparound solar cells as a function of intensity, temperature, and irradiation. [for solar electric propulsion

    Science.gov (United States)

    Anspaugh, B. E.; Beckert, D. M.; Downing, R. G.; Weiss, R. S.

    1980-01-01

    Parametric characterization data on Spectrolab 2 by 4 cm, 2 ohm/cm, 228 micron thick wraparound cell, a candidate for the Solar Electric Propulsion Mission, are presented. These data consist of the electrical characteristics of the solar cell under a wide range of temperature and illumination intensity combinations of the type encountered in space applications.

  5. Discount factor in planning decision of electric sector

    International Nuclear Information System (INIS)

    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)

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

    Science.gov (United States)

    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.

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

    International Nuclear Information System (INIS)

    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

  8. Dynamical instabilities in a simple minority game with discounting

    International Nuclear Information System (INIS)

    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)

  9. Life Insurance and Annuity Demand under Hyperbolic Discounting

    Directory of Open Access Journals (Sweden)

    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.

  10. Dynamic optimization approach for integrated supplier selection and tracking control of single product inventory system with product discount

    Science.gov (United States)

    Sutrisno; Widowati; Heru Tjahjana, R.

    2017-01-01

    In this paper, we propose a mathematical model in the form of dynamic/multi-stage optimization to solve an integrated supplier selection problem and tracking control problem of single product inventory system with product discount. The product discount will be stated as a piece-wise linear function. We use dynamic programming to solve this proposed optimization to determine the optimal supplier and the optimal product volume that will be purchased from the optimal supplier for each time period so that the inventory level tracks a reference trajectory given by decision maker with minimal total cost. We give a numerical experiment to evaluate the proposed model. From the result, the optimal supplier was determined for each time period and the inventory level follows the given reference well.

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

    Science.gov (United States)

    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.

  12. Preliminary design of the Carrisa Plains solar central receiver power plant. Volume III, Book 1. Design description

    Energy Technology Data Exchange (ETDEWEB)

    1983-12-31

    The design of the 30 MWe central receiver solar power plant to be located at Carrisa Plains, San Luis Obispo County, California, is summarized. The plant uses a vertical flat-panel (billboard solar receiver located at the top of a tower to collect solar energy redirected by approximately 1900 heliostats located to the north of the tower. The solar energy is used to heat liquid sodium pumped from ground level from 610 to 1050/sup 0/F. The power conversion system is a non-reheat system, cost-effective at this size level, and designed for high-efficiency performance in an application requiring daily startup. Successful completion of this project will lead to power generation starting in 1986. This report discusses in detail the design of the collector system, heat transport system, thermal storage subsystem, heat transport loop, steam generation subsystem, electrical, instrumentation, and control systems, power conversion system, master control system, and balance of plant. The performance, facility cost estimate and economic analysis, and development plan are also discussed.

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

    Science.gov (United States)

    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.

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

    African Journals Online (AJOL)

    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 ...

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

    Science.gov (United States)

    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…

  16. Age Differences in Future Orientation and Delay Discounting

    Science.gov (United States)

    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…

  17. 24 CFR 201.13 - Interest and discount points.

    Science.gov (United States)

    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...

  18. MODERN INDICATORS DERIVED FROM VALUE CREATION AND DISCOUNTED

    Directory of Open Access Journals (Sweden)

    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.

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

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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…

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

    International Nuclear Information System (INIS)

    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)

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

    Science.gov (United States)

    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.

  3. Market and Impact Study Setting Up MMX Discount Store

    OpenAIRE

    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

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

    Science.gov (United States)

    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…

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

    African Journals Online (AJOL)

    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 ...

  6. Special discount to the members of the Staff Association

    CERN Multimedia

    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...

  7. Pension Fund Asset Allocation and Liability Discount Rates

    NARCIS (Netherlands)

    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

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

    OpenAIRE

    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...

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

    OpenAIRE

    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...

  10. 78 FR 67393 - Change in Discount Rate for Water Resources Planning

    Science.gov (United States)

    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...

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

    Science.gov (United States)

    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.

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

    NARCIS (Netherlands)

    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

  13. 31 CFR 356.21 - How are awards at the high yield or discount rate calculated?

    Science.gov (United States)

    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...

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

    NARCIS (Netherlands)

    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

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

    Science.gov (United States)

    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

  16. Burnham's celestial handbook. An observer's guide to the universe beyond the solar system. Volume 3. Pavo through Vulpecula

    International Nuclear Information System (INIS)

    Burnham, R. Jr.

    1978-01-01

    This volume of the Celestial Handbook treats the constellations alphabetically from Pavo through Vulpecula. For each it lists double and multiple stars, variable stars, and star clusters, nebulae, and galaxies with positions, magnitudes, etc. It also presents descriptive notes concerning some of the objects; these include history, mythology, and poetical allusions, as well as scientific information

  17. Proceedings of the second US Department of Energy environmental control symposium. Volume 2. Nuclear energy, conservation, and solar energy

    International Nuclear Information System (INIS)

    1980-06-01

    These proceedings document the presentations given at the Second Environmental Control Symposium. Symposium presentations highlighted environmental control activities which span the entire DOE. Volume II contains papers relating to: environmental control aspects of nuclear energy use and development; nuclear waste management; renewable energy sources; transportation and building conservation (fuel economy, gasohol, building standards, and industry); and geothermal energy, power transmission, and energy storage

  18. Proceedings of the second US Department of Energy environmental control symposium. Volume 2. Nuclear energy, conservation, and solar energy

    Energy Technology Data Exchange (ETDEWEB)

    None

    1980-06-01

    These proceedings document the presentations given at the Second Environmental Control Symposium. Symposium presentations highlighted environmental control activities which span the entire DOE. Volume II contains papers relating to: environmental control aspects of nuclear energy use and development; nuclear waste management; renewable energy sources; transportation and building conservation (fuel economy, gasohol, building standards, and industry); and geothermal energy, power transmission, and energy storage. (DMC)

  19. Solar central receiver hybrid power system, Phase I. Volume 2. Conceptual design. Final technical report, October 1978-August 1979

    Energy Technology Data Exchange (ETDEWEB)

    None

    1979-09-01

    The objectives of this study were to develop a hybrid power system design that (1) produces minimum cost electric power, (2) minimizes the capital investment and operating cost, (3) permits capacity displacement, (4) and achieves utility acceptance for market penetration. We have met the first three of these objectives and therefore believe that the fourth, utility acceptance, will become a reality. These objectives have been met by utilizing the Martin Marietta concept that combines the alternate central receiver power system design and a high-temperature salt primary heat transfer fluid and thermal storage media system with a fossil-fired nonsolar energy source. Task 1 reviewed the requirements definition document and comments and recommendations were provided to DOE/San Francisco. Task 2 consisted of a market analysis to evaluate the potential market of solar hybrid power plants. Twenty-two utilities were selected within nine regions of the country. Both written and verbal correspondence was used to assess solar hybrid power plants with respect to the utilities' future requirements and plans. The parametric analysis of Task 3 evaluated a wide range of subsystem configurations and sizes. These analyses included subsystems from the solar standalone alternate central receiver power system using high-temperature molten salt and from fossil fuel nonsolar subsystems. Task 4, selection of the preferred commerical system configuration, utilized the parametric analyses developed in Task 3 to select system and subsystem configurations for the commercial plant design. Task 5 developed a conceptual design of the selected commercial plant configuration and assessed the related cost and performance. Task 6 assessed the economics and performance of the selected configuration as well as future potential improvements or limitations of the hybrid power plants.

  20. Effects of nano anatase-rutile TiO2 volume fraction with natural dye containing anthocyanin on the dye sensitized solar cell performance

    Science.gov (United States)

    Agustini, S.; Wahyuono, R. A.; Sawitri, D.; Risanti, D. D.

    2013-09-01

    Since its first development, efforts to improve efficiency of Dye Sensitized Solar Cell (DSSC) are continuously carried out, either through selection of dye materials, the type of semiconductor, counter electrode design or the sandwiched structure. It is widely known that anatase and rutile are phases of TiO2 that often being used for fabrication of DSSC. Rutile is thermodynamically more stable phase having band-gap suitable for absorption of sunlight spectrum. On the other hand, anatase has higher electrical conductivity, capability to adsorp dye as well as higher electron diffusion coefficient than those of rutile. Present research uses mangosteen pericarp and Rhoeo spathacea extracted in ethanol as natural dye containing anthocyanin. These dyes were characterized by using UV-Vis and FTIR, showing that the absorption maxima peaks obtained at 389 nm and 413 nm, for mangosteen and Rhoeo spathacea, respectively. The nano TiO2 was prepared by means of co-precipitation method. The particle size were 9-11 nm and 54.5 nm for anatase and rutile, respectively, according to Scherrer's equation. DSSCs were fabricated in various volume fractions of anatase and rutile TiO2. The fabricated DSSCs were tested under 17 mW/cm2 of solar irradiation. The current-voltage (I-V) characteristic of DSSCs employing 75%: 25% volume fraction of anatase and rutile TiO2 have outstanding result than others. The highest conversion efficiencies of 0.037% and 0.013% are obtained for DSSC employing natural dye extract from mangosteen pericarp and Rhoeo spathacea, respectively.

  1. Low concentration ratio solar array for low Earth orbit multi-100 kW application. Volume 1: Design, analysis and development tests

    Science.gov (United States)

    1983-01-01

    A preliminary design effort directed toward a low concentration ratio photovoltaic array system capable of delivering multihundred kilowatts (300 kW to 1000 kW range) in low earth orbit is described. The array system consists of two or more array modules each capable of delivering between 113 kW to 175 kW using silicon solar cells or gallium arsenide solar cells, respectively. The array module deployed area is 1320 square meters and consists of 4356 pyramidal concentrator elements. The module, when stowed in the Space Shuttle's payload bay, has a stowage volume of a cube with 3.24 meters on a side. The concentrator elements are sized for a geometric concentration ratio (GCR) of six with an aperture area of .25 sq. m. The structural analysis and design trades leading to the baseline design are discussed. It describes the configuration, as well as optical, thermal and electrical performance analyses that support the design and overall performance estimates for the array are described.

  2. Information work: solar energy. Home heating, hot water production, cooling, power generation. Volume 1. Informationswerk sonnenenergie. Hausheizung, warmwasserbereitung, kuehlung, stromgewinnung. Band 1

    Energy Technology Data Exchange (ETDEWEB)

    1976-01-01

    Seven articles on various aspects of solar energy utilization are compiled. The topics discussed are solar home heating in modular construction, recommedations for private and industrial new construction, legal aspects in solar energy installations, solar state diagrams as an aid for improving solar planning data for construction, insolation and clouds, network of stations and observation sites for radiation measurements in Germany, and solar collectors for air medium. (JSR)

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

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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.

  6. Solar thermal technology development: Estimated market size and energy cost savings. Volume 2: Assumptions, methodology and results

    Science.gov (United States)

    Gates, W. R.

    1983-02-01

    Estimated future energy cost savings associated with the development of cost-competitive solar thermal technologies (STT) are discussed. Analysis is restricted to STT in electric applications for 16 high-insolation/high-energy-price states. Three fuel price scenarios and three 1990 STT system costs are considered, reflecting uncertainty over future fuel prices and STT cost projections. Solar thermal technology research and development (R&D) is found to be unacceptably risky for private industry in the absence of federal support. Energy cost savings were projected to range from $0 to $10 billion (1990 values in 1981 dollars), depending on the system cost and fuel price scenario. Normal R&D investment risks are accentuated because the Organization of Petroleum Exporting Countries (OPEC) cartel can artificially manipulate oil prices and undercut growth of alternative energy sources. Federal participation in STT R&D to help capture the potential benefits of developing cost-competitive STT was found to be in the national interest. Analysis is also provided regarding two federal incentives currently in use: The Federal Business Energy Tax Credit and direct R&D funding.

  7. Solar thermal technology development: Estimated market size and energy cost savings. Volume 2: Assumptions, methodology and results

    Science.gov (United States)

    Gates, W. R.

    1983-01-01

    Estimated future energy cost savings associated with the development of cost-competitive solar thermal technologies (STT) are discussed. Analysis is restricted to STT in electric applications for 16 high-insolation/high-energy-price states. Three fuel price scenarios and three 1990 STT system costs are considered, reflecting uncertainty over future fuel prices and STT cost projections. Solar thermal technology research and development (R&D) is found to be unacceptably risky for private industry in the absence of federal support. Energy cost savings were projected to range from $0 to $10 billion (1990 values in 1981 dollars), depending on the system cost and fuel price scenario. Normal R&D investment risks are accentuated because the Organization of Petroleum Exporting Countries (OPEC) cartel can artificially manipulate oil prices and undercut growth of alternative energy sources. Federal participation in STT R&D to help capture the potential benefits of developing cost-competitive STT was found to be in the national interest. Analysis is also provided regarding two federal incentives currently in use: The Federal Business Energy Tax Credit and direct R&D funding.

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

    Science.gov (United States)

    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.

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

    OpenAIRE

    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...

  10. Watch for pitfalls of discounted cash flow techniques.

    Science.gov (United States)

    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.

  11. Equivalence of ten different discounted cash flow valuation methods

    OpenAIRE

    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...

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

    Science.gov (United States)

    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.

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

    OpenAIRE

    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...

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

    OpenAIRE

    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...

  15. Photochemical conversion and storage of solar energy. In New Journal of Chemistry, February 1987, Volume 11, Number 2

    Energy Technology Data Exchange (ETDEWEB)

    1987-01-01

    This volume is actually a special issue of Nouveau Journal de Chimie, which contains the proceedings of a conference held in Paris in 1986. There are 23 papers in it, all in English. As is to be expected, many of them are concerned with solid-state effects, semiconductors, and membranes. Six of the papers are called Round Table Reports and include such topics as photocatalysis, biomimetric systems, etc. The format is that of a journal, and there is no index.

  16. Fabrikasi Dye Sensitized Solar Cell (DSSC Berdasarkan Fraksi Volume TiO2 Anatase-Rutile dengan Garcinia mangostana dan Rhoeo Spathacea sebagai Dye Fotosensitizer

    Directory of Open Access Journals (Sweden)

    Sustia Agustini

    2013-09-01

    Full Text Available Sejak pertama kali dikembangkan, usaha untuk meningkatkan efisiensi Dye Sensitized Solar Cell (DSSC terus dilakukan. Mulai dari pemilihan bahan pewarna, jenis semikonduktor yang digunakan, desain counter elektroda, struktur sandwich atau yang lainnya. Anatase dan rutile adalah fase dari TiO2 yang sering digunakan untuk fabrikasi DSSC. Penelitian ini menggunakan kulit manggis dan Rhoeo spathacea yang diekstrak menggunakan ethanol sebagai pewarna alami yang mengandung antosianin. Pewarna tersebut dikarakterisasi menggunakan UV-Vis dan FTIR, dan menunjukkan absorpsi pada panjang gelombang 392 nm untuk kulit manggis dan 413 nm untuk Rhoeo spathacea. TiO2 disintesis menggunakan metode co-precipitation. Ukuran partikel yang dihasilkan adalah 11 nm untuk anatase and 54,5 nm untuk rutile dengan menggunakan persamaan Scherrer. DSSC difabrikasi dengan variasi fraksi volume TiO2 anatase dan rutile. DSSC diuji dibawah cahaya matahari dengan daya sebesar 17 mW/cm2. Kurva arus-tegangan (I-V DSSC yang dihasilkan fraksi volume 75%:25% memperlihatkan hasil terbaik dibanding yang lain. Efisiensi tertinggi adalah 0.037% dan 0.013% dihasilkan oleh DSSC dengan pewarna alami dari kulit manggis dan Rhoeo spathacea.

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

    Science.gov (United States)

    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.

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

    Directory of Open Access Journals (Sweden)

    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.

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

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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.

  1. Preliminary design of the Carrisa Plains solar central receiver power plant. Volume III, Book 3. Appendices, Part 1

    Energy Technology Data Exchange (ETDEWEB)

    Mouradian, E. M.

    1983-12-31

    Thermal analyses for the preliminary design phase of the Receiver of the Carrizo Plains Solar Power Plant are presented. The sodium reference operating conditions (T/sub in/ = 610/sup 0/F, T/sub out/ = 1050/sup 0/F) have been considered. Included are: Nominal flux distribution on receiver panal, Energy input to tubes, Axial temperature distribution; sodium and tubes, Sodium flow distribution, Sodium pressure drop, orifice calculations, Temperature distribution in tube cut (R-0), Backface structure, and Nonuniform sodium outlet temperature. Transient conditions and panel front face heat losses are not considered. These are to be addressed in a subsequent design phase. Also to be considered later are the design conditions as variations from the nominal reference (operating) condition. An addendum, designated Appendix C, has been included describing panel heat losses, panel temperature distribution, and tube-manifold joint thermal model.

  2. High Volume Manufacturing of Silicon-Film Solar Cells and Modules; Final Subcontract Report, 26 February 2003 - 30 September 2003

    Energy Technology Data Exchange (ETDEWEB)

    Rand, J. A.; Culik, J. S.

    2005-10-01

    The objective of the PV Manufacturing R&D subcontract was to continue to improve AstroPower's technology for manufacturing Silicon-Film* wafers, solar cells, and modules to reduce costs, and increase production yield, throughput, and capacity. As part of the effort, new technology such as the continuous back metallization screen-printing system and the laser scribing system were developed and implemented. Existing processes, such as the silicon nitride antireflection coating system and the fire-through process were optimized. Improvements were made to the statistical process control (SPC) systems of the major manufacturing processes: feedstock preparation, wafer growth, surface etch, diffusion, and the antireflection coating process. These process improvements and improved process control have led to an increase of 5% relative power, and nearly 15% relative improvement in mechanical and visual yield.

  3. Mixed strategies for energy conservation and alternative energy utilization (solar) in buildings. Final report. Volume III. Appendixes. [10 appendices

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-06-01

    This appendix summarizes building characteristics used to determine heating and cooling loads for each of the five building types in each of the four regions. For the selected five buildings, the following data are attached: new and existing construction characteristics; new and existing construction thermal resistance; floor plan and elevation; people load schedule; lighting load schedule; appliance load schedule; ventilation schedule; and hot water use schedule. For the five building types (single family, apartment buildings, commercial buildings, office buildings, and schools), data are compiled in 10 appendices. These are Building Characteristics; Alternate Energy Sources and Energy Conservation Techniques Description, Costs, Fuel Price Scenarios; Life Cycle Cost Model; Simulation Models; Solar Heating/Cooling System; Condensed Weather; Single and Multi-Family Dwelling Characteristics and Energy Conservation Techniques; Mixed Strategies for Energy Conservation and Alternative Energy Utilization in Buildings. An extensive bibliography is given in the final appendix. (MCW)

  4. Solar prominences

    CERN Document Server

    Engvold, Oddbjørn

    2015-01-01

    This volume presents the latest research results on solar prominences, including new developments on e.g. chirality, fine structure, magnetism, diagnostic tools and relevant solar plasma physics. In 1875 solar prominences, as seen out of the solar limb, were described by P.A. Secchi in his book Le Soleil as "gigantic pink or peach-flower coloured flames". The development of spectroscopy, coronagraphy and polarimetry brought tremendous observational advances in the twentieth century. The authors present and discuss exciting new challenges (resulting from observations made by space and ground-based telescopes in the 1990s and the first decade of the 21st century) concerning the diagnostics of prominences, their formation, their life time and their eruption along with their impact in the heliosphere (including the Earth). The book starts with a general introduction of the prominence “object” with some historical background on observations and instrumentation. In the next chapter, the various forms of promine...

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

    Science.gov (United States)

    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

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

    Science.gov (United States)

    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.

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

    International Nuclear Information System (INIS)

    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

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

    Science.gov (United States)

    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.

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

    Directory of Open Access Journals (Sweden)

    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.

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

    Directory of Open Access Journals (Sweden)

    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.

  11. A high-resolution atlas of the infrared spectrum of the Sun and the Earth atmosphere from space. Volume 3: Key to identification of solar features

    Science.gov (United States)

    Geller, Murray

    1992-01-01

    During the period April 29 through May 2, 1985, the Atmospheric Trace Molecule Spectroscopy (ATMOS) experiment was operated as part of the Spacelab-3 (SL-3) payload on the shuttle Challenger. The instrument, a Fourier transform spectrometer, recorded over 2000 infrared solar spectra from an altitude of 360 km. Although the majority of the spectra were taken through the limb of the Earth's atmosphere in order to better understand its composition, several hundred of the 'high-sun' spectra were completely free from telluric absorption. These high-sun spectra recorded from space are, at the present time, the only high-resolution infrared spectra ever taken of the Sun free from absorptions due to constituents in the Earth's atmosphere. Volumes 1 and 2 of this series provide a compilation of these spectra arranged in a format suitable for quick-look reference purposes and are the first record of the continuous high-resolution infrared spectrum of the Sun and the Earth's atmosphere from space. In the Table of Identifications, which constitutes the main body of this volume, each block of eight wavenumbers is given a separate heading and corresponds to a page of two panels in Volume 1 of this series. In addition, three separate blocks of data available from ATMOS from 622-630 cm(exp -1), 630-638 cm(exp -1) and 638-646 cm(exp -1), excluded from Volume 1 because of the low signal-to-noise ratio, have been included due to the certain identification of several OH and NH transitions. In the first column of the table, the corrected frequency is given. The second column identifies the molecular species. The third and fourth columns represent the assigned transition. The fifth column gives the depth of the molecular line in millimeters. Also included in this column is a notation to indicate whether the line is a blend or lies on the shoulder(s) of another line(s). The final column repeats a question mark if the line is unidentified.

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

    Science.gov (United States)

    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.

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

    Science.gov (United States)

    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.

  14. Adoption of residential solar power under uncertainty: Implications for renewable energy incentives

    International Nuclear Information System (INIS)

    Bauner, Christoph; Crago, Christine L.

    2015-01-01

    Many incentives at the state and federal level exist for household adoption of renewable energy like solar photovoltaic (PV) panels. Despite generous financial incentives the adoption rate is low. We use the option value framework, which takes into account the benefit of delaying investment in response to uncertainty, to examine the decision by households to invest in solar PV. Using a simulation model, we determine optimal adoption times, critical values of discounted benefits, and adoption rates over time for solar PV investments using data from Massachusetts. We find that the option value multiplier is 1.6, which implies that the discounted value of benefits from solar PV needs to exceed installation cost by 60% for investment to occur. Without any policies, median adoption time is eight years longer under the option value decision rule compared to the net present value decision rule where households equate discounted benefits to installation cost. Rebates and other financial incentives decrease adoption time, but their effect is attenuated if households apply the option value decision rule to solar PV investments. Results suggest that policies that reduce the uncertainty in returns from solar PV investments would be most effective at incentivizing adoption. - Highlights: • We examine household adoption of solar PV using the option value framework. • Uncertainty in benefits and costs leads to delay in investment timing. • Discounted benefits from solar PV have to exceed investment cost by 60% to trigger investment. • Policy incentives that reduce uncertainty in returns from solar PV are most effective.

  15. Manipulating the discount rate when valuing international investment projects

    Directory of Open Access Journals (Sweden)

    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.

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

    OpenAIRE

    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...

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

    OpenAIRE

    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...

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

    OpenAIRE

    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.

  19. Characterization of solar cells for space applications. Volume 7: Electrical characteristics of Spectrolab HEWAC BSF, textured, 10 ohm-cm, 225 micron solar cells as a function of intensity and temperature

    Science.gov (United States)

    Anspaugh, B. E.; Beckert, D. M.; Downing, R. G.; Miyahira, T. F.; Weiss, R. S.

    1979-01-01

    Electrical characteristics of Spectrolab HEWAC BSF, textured, 10 ohm cm, 225 micron solar cells are presented in graphical and tabular format as a function of solar illumination intensity and temperature.

  20. Characterization of solar cells for space applications. Volume 12: Electrical characteristics of Solarex BSF, 2-ohm-cm, 50-micron solar cells (1978 pilot line) as a function of intensity, temperature, and irradiation

    Science.gov (United States)

    Anspaugh, B. E.; Beckert, D. M.; Downing, R. G.; Miyahira, T. F.; Weiss, R. S.

    1980-01-01

    Electrical characteristics of Solarex back-surface-field, 2-ohm-cm, 50-micron N/P silicon solar cells are presented in graphical and tabular format as a function of solar illumination intensity, temperature, and irradiation.

  1. Integrating discount usability in scrum development process in Ethiopia

    DEFF Research Database (Denmark)

    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...

  2. Does temporal discounting explain unhealthy behavior? A systematic review and reinforcement learning perspective

    Science.gov (United States)

    Story, Giles W.; Vlaev, Ivo; Seymour, Ben; Darzi, Ara; Dolan, Raymond J.

    2014-01-01

    The tendency to make unhealthy choices is hypothesized to be related to an individual's temporal discount rate, the theoretical rate at which they devalue delayed rewards. Furthermore, a particular form of temporal discounting, hyperbolic discounting, has been proposed to explain why unhealthy behavior can occur despite healthy intentions. We examine these two hypotheses in turn. We first systematically review studies which investigate whether discount rates can predict unhealthy behavior. These studies reveal that high discount rates for money (and in some instances food or drug rewards) are associated with several unhealthy behaviors and markers of health status, establishing discounting as a promising predictive measure. We secondly examine whether intention-incongruent unhealthy actions are consistent with hyperbolic discounting. We conclude that intention-incongruent actions are often triggered by environmental cues or changes in motivational state, whose effects are not parameterized by hyperbolic discounting. We propose a framework for understanding these state-based effects in terms of the interplay of two distinct reinforcement learning mechanisms: a “model-based” (or goal-directed) system and a “model-free” (or habitual) system. Under this framework, while discounting of delayed health may contribute to the initiation of unhealthy behavior, with repetition, many unhealthy behaviors become habitual; if health goals then change, habitual behavior can still arise in response to environmental cues. We propose that the burgeoning development of computational models of these processes will permit further identification of health decision-making phenotypes. PMID:24659960

  3. Delay discounting of oral morphine and sweetened juice rewards in dependent and non-dependent rats.

    Science.gov (United States)

    Harvey-Lewis, Colin; Perdrizet, Johnna; Franklin, Keith B J

    2014-07-01

    Opioid-dependent humans are reported to show accelerated delay discounting of opioid rewards when compared to monetary rewards. It has been suggested that this may reflect a difference in discounting of consumable and non-consumable goods not specific to dependent individuals. Here, we evaluate the discounting of similar morphine and non-morphine oral rewards in dependent and non-dependent rats We first tested the analgesic and rewarding effects of our morphine solution. In a second experiment, we assigned rats randomly to either dependent or non-dependent groups that, 30 min after daily testing, received 30 mg/kg subcutaneous dose of morphine, or saline, respectively. Delay discounting of drug-free reward was examined prior to initiation of the dosing regimen. We tested discounting of the morphine reward in half the rats and retested the discounting of the drug-free reward in the other half. All tests were run 22.5 h after the daily maintenance dose. Rats preferred the morphine cocktail to the drug-free solution and consumed enough to induce significant analgesia. The control quinine solution did not produce these effects. Dependent rats discounted morphine rewards more rapidly than before dependence and when compared to discounting drug-free rewards. In non-dependent rats both reward types were discounted similarly. These results show that morphine dependence increases impulsiveness specifically towards a drug reward while morphine experience without dependence does not.

  4. Money earlier or later? Simple heuristics explain intertemporal choices better than delay discounting does.

    Science.gov (United States)

    Ericson, Keith M Marzilli; White, John Myles; Laibson, David; Cohen, Jonathan D

    2015-06-01

    Heuristic models have been proposed for many domains involving choice. We conducted an out-of-sample, cross-validated comparison of heuristic models of intertemporal choice (which can account for many of the known intertemporal choice anomalies) and discounting models. Heuristic models outperformed traditional utility-discounting models, including models of exponential and hyperbolic discounting. The best-performing models predicted choices by using a weighted average of absolute differences and relative percentage differences of the attributes of the goods in a choice set. We concluded that heuristic models explain time-money trade-off choices in experiments better than do utility-discounting models. © The Author(s) 2015.

  5. Money Earlier or Later? Simple Heuristics Explain Intertemporal Choices Better than Delay Discounting1

    Science.gov (United States)

    Marzilli Ericson, Keith M.; White, John Myles; Laibson, David; Cohen, Jonathan D.

    2015-01-01

    Heuristic models have been proposed for many domains of choice. We compare heuristic models of intertemporal choice, which can account for many of the known intertemporal choice anomalies, to discounting models. We conduct an out-of-sample, cross-validated comparison of intertemporal choice models. Heuristic models outperform traditional utility discounting models, including models of exponential and hyperbolic discounting. The best performing models predict choices by using a weighted average of absolute differences and relative (percentage) differences of the attributes of the goods in a choice set. We conclude that heuristic models explain time-money tradeoff choices in experiments better than utility discounting models. PMID:25911124

  6. Delay discounting of food by rhesus monkeys: Cocaine and food choice in isomorphic and allomorphic situations.

    Science.gov (United States)

    Huskinson, Sally L; Woolverton, William L; Green, Leonard; Myerson, Joel; Freeman, Kevin B

    2015-06-01

    Research on delay discounting has focused largely on nondrug reinforcers in an isomorphic context in which choice is between alternatives that involve the same type of reinforcer. Less often, delay discounting has been studied with drug reinforcers in a more ecologically valid allomorphic context where choice is between alternatives involving different types of reinforcers. The present experiment is the first to examine discounting of drug and nondrug reinforcers in both isomorphic and allomorphic situations using a theoretical model (i.e., the hyperbolic discounting function) that allows for comparisons of discounting rates between reinforcer types and amounts. The goal of the current experiment was to examine discounting of a delayed, nondrug reinforcer (food) by male rhesus monkeys when the immediate alternative was either food (isomorphic situation) or cocaine (allomorphic situation). In addition, we sought to determine whether there was a magnitude effect with delayed food in the allomorphic situation. Choice of immediate food and immediate cocaine increased with amount and dose, respectively. Choice functions for immediate food and cocaine generally shifted leftward as delay increased. Compared to isomorphic situations in which food was the immediate alternative, delayed food was discounted more steeply in allomorphic situations where cocaine was the immediate alternative. Notably, discounting was not affected by the magnitude of the delayed reinforcer. These data indicate that how steeply a delayed nondrug reinforcer is discounted may depend more on the qualitative characteristics of the immediate reinforcer and less on the magnitude of the delayed one. (c) 2015 APA, all rights reserved).

  7. Philosophical origins of the social rate of discount in cost-benefit analysis.

    Science.gov (United States)

    Robinson, J C

    1990-01-01

    The social rate of discount--that is, the way decision makers today evaluate future consequences of collective activity--raises difficult issues of intergenerational justice. When benefits are discounted at the present rate the United States government requires, serious efforts to promote public health over the long term will fail cost-benefit tests. No consensus exists among theorists to establish fair rates; philosophers support discounting with economic arguments that economists reject, while economists no less paradoxically support the concept using philosophical arguments that philosophers disavow. A new emphasis on the role of consumers' and citizens' time preferences, however, will keep open rather than close debates on the social discount rate.

  8. A discount strategy in word-of-mouth marketing and its assessment

    OpenAIRE

    Zhang, Tianrui; Yang, Xiaofan; Yang, Lu-Xing; Tang, Yuan Yan; Wu, Yingbo

    2017-01-01

    This paper addresses the discount pricing in word-of-mouth (WOM) marketing. A new discount strategy known as the Infection-Based Discount (IBD) strategy is proposed. The basic idea of the IBD strategy lies in that each customer enjoys a discount that is linearly proportional to his/her influence in the WOM network. To evaluate the performance of the IBD strategy, the WOM spreading process is modeled as a dynamic model known as the DPA model, and the performance of the IBD strategy is modeled ...

  9. Changing delay discounting in the light of the competing neurobehavioral decision systems theory: a review.

    Science.gov (United States)

    Koffarnus, Mikhail N; Jarmolowicz, David P; Mueller, E Terry; Bickel, Warren K

    2013-01-01

    Excessively devaluing delayed reinforcers co-occurs with a wide variety of clinical conditions such as drug dependence, obesity, and excessive gambling. If excessive delay discounting is a trans-disease process that underlies the choice behavior leading to these and other negative health conditions, efforts to change an individual's discount rate are arguably important. Although discount rate is often regarded as a relatively stable trait, descriptions of interventions and environmental manipulations that successfully alter discount rate have begun to appear in the literature. In this review, we compare published examples of procedures that change discount rate and classify them into categories of procedures, including therapeutic interventions, direct manipulation of the executive decision-making system, framing effects, physiological state effects, and acute drug effects. These changes in discount rate are interpreted from the perspective of the competing neurobehavioral decision systems theory, which describes a combination of neurological and behavioral processes that account for delay discounting. We also suggest future directions that researchers could take to identify the mechanistic processes that allow for changes in discount rate and to test whether the competing neurobehavioral decision systems view of delay discounting is correct. © Society for the Experimental Analysis of Behavior.

  10. OPPORTUNITY COSTS OF REWARD DELAYS AND THE DISCOUNTING OF HYPOTHETICAL MONEY AND CIGARETTES

    Science.gov (United States)

    Johnson, Patrick S.; Herrmann, Evan S.; Johnson, Matthew W.

    2015-01-01

    Humans are reported to discount delayed rewards at lower rates than nonhumans. However, nonhumans are studied in tasks that restrict reinforcement during delays, whereas humans are typically studied in tasks that do not restrict reinforcement during delays. In nonhuman tasks, the opportunity cost of restricted reinforcement during delays may increase delay discounting rates. The present within-subjects study used online crowdsourcing (Amazon Mechanical Turk, or MTurk) to assess the discounting of hypothetical delayed money (and cigarettes in smokers) under four hypothetical framing conditions differing in the availability of reinforcement during delays. At one extreme, participants were free to leave their computer without returning, and engage in any behavior during reward delays (modeling typical human tasks). At the opposite extreme, participants were required to stay at their computer and engage in little other behavior during reward delays (modeling typical nonhuman tasks). Discounting rates increased as an orderly function of opportunity cost. Results also indicated predominantly hyperbolic discounting, the “magnitude effect,” steeper discounting of cigarettes than money, and positive correlations between discounting rates of these commodities. This is the first study to test the effects of opportunity costs on discounting, and suggests that procedural differences may partially account for observed species differences in discounting. PMID:25388973

  11. Solar-generated steam for oil recovery: Reservoir simulation, economic analysis, and life cycle assessment

    International Nuclear Information System (INIS)

    Sandler, Joel; Fowler, Garrett; Cheng, Kris; Kovscek, Anthony R.

    2014-01-01

    Highlights: • Integrated assessment of solar thermal enhanced oil recovery (TEOR). • Analyses of reservoir performance, economics, and life cycle factors. • High solar fraction scenarios show economic viability for TEOR. • Continuous variable-rate steam injection meets the benchmarks set by conventional steam flood. - Abstract: The viability of solar thermal steam generation for thermal enhanced oil recovery (TEOR) in heavy-oil sands was evaluated using San Joaquin Valley, CA data. The effectiveness of solar TEOR was quantified through reservoir simulation, economic analysis, and life-cycle assessment. Reservoir simulations with continuous but variable rate steam injection were compared with a base-case Tulare Sand steamflood project. For equivalent average injection rates, comparable breakthrough times and recovery factors of 65% of the original oil in place were predicted, in agreement with simulations in the literature. Daily cyclic fluctuations in steam injection rate do not greatly impact recovery. Oil production rates do, however, show seasonal variation. Economic viability was established using historical prices and injection/production volumes from the Kern River oil field. For comparison, this model assumes that present day steam generation technologies were implemented at TEOR startup in 1980. All natural gas cogeneration and 100% solar fraction scenarios had the largest and nearly equal net present values (NPV) of $12.54 B and $12.55 B, respectively. Solar fraction refers to the steam provided by solar steam generation. Given its large capital cost, the 100% solar case shows the greatest sensitivity to discount rate and no sensitivity to natural gas price. Because there are very little emissions associated with day-to-day operations from the solar thermal system, life-cycle emissions are significantly lower than conventional systems even when the embodied energy of the structure is considered. We estimate that less than 1 g of CO 2 /MJ of refined

  12. Handbook of solar energy data for south-facing surfaces in the United States. Volume I. An insolation, array shadowing, and reflector augmentation model

    Energy Technology Data Exchange (ETDEWEB)

    Smith, J.H.

    1980-01-15

    This handbook provides estimates of average available solar insolation to fixed, flat-plate, south-facing collector surfaces at various array tilt angles at numerous sites in the US. This first volume contains average daily, total insolation estimates, by month, and annual totals for 235 locations. A model that estimates the direct, diffuse, and reflected components of total insolation on an hourly, daily, and monthly basis is presented. A shadow loss model and a reflector augmentation model providing estimates of the losses and gains associated with various fixed array geometries are also described. These models can be used with the insolation model provided or with other recorded data. A FORTRAN computer program with user's guide is presented. The program can be used to generate additional handbook values or to examine the effects of array shadowing and fixed reflector augmentation effects on a daily, monthly, or annual basis. Array shadowing depends on location, array size, array tilt, array separation, and time. The program can be used to examine trade-offs between array spacing and insolation losses due to shadowing. The reflector augmentation program can be used to examine trade-offs among array size and tilt, separation, and reflector tilt to determine the combination of design values that optimize the economic objectives or technical criteria of the system.

  13. Commercial Discount Rate Estimation for Efficiency Standards Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Fujita, K. Sydny [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2016-04-13

    Underlying each of the Department of Energy's (DOE's) federal appliance and equipment standards are a set of complex analyses of the projected costs and benefits of regulation. Any new or amended standard must be designed to achieve significant additional energy conservation, provided that it is technologically feasible and economically justified (42 U.S.C. 6295(o)(2)(A)). A proposed standard is considered economically justified when its benefits exceed its burdens, as represented by the projected net present value of costs and benefits. DOE performs multiple analyses to evaluate the balance of costs and benefits of commercial appliance and equipment e efficiency standards, at the national and individual building or business level, each framed to capture different nuances of the complex impact of standards on the commercial end user population. The Life-Cycle Cost (LCC) analysis models the combined impact of appliance first cost and operating cost changes on a representative commercial building sample in order to identify the fraction of customers achieving LCC savings or incurring net cost at the considered efficiency levels.1 Thus, the choice of commercial discount rate value(s) used to calculate the present value of energy cost savings within the Life-Cycle Cost model implicitly plays a key role in estimating the economic impact of potential standard levels.2 This report is intended to provide a more in-depth discussion of the commercial discount rate estimation process than can be readily included in standard rulemaking Technical Support Documents (TSDs).

  14. Discounting and distributional considerations in the context of global warming

    International Nuclear Information System (INIS)

    Azar, Christian; Sterner, Thomas

    1996-01-01

    The economics of global warming is reviewed with special emphasis on how the cost depends on the discount rate and on how costs in poor and rich regions are aggregated into a global cost estimate. Both of these factors depend on the assumptions made concerning the underlying utility and welfare functions. It is common to aggregate welfare gains and losses across generations and countries as if the utility of money were constant, but it is not. If we assume that a CO 2 -equivalent doubling implies costs equal to 1.5% of the income in both high and low income countries, a pure rate of time preference equal to zero, and a utility function which is logarithmic in income, then the marginal cost of CO 2 emissions is estimated at 260-590 USD/ton C for a time horizon in the range 300-1000 years, an estimate which is large enough to justify significant reductions of CO 2 emissions on purely economic grounds. The estimate is approximately 50-100-times larger than the estimate made by Nordhaus in his DICE model and the difference is almost completely due to the choice of discount rate and the weight given to the costs in the developing world as well as a more accurate model of the carbon cycle. Finally, the sensitivity of the marginal cost estimate with respect to several parameters is analyzed

  15. Discount rate in the spent fuel storage and disposal fee

    International Nuclear Information System (INIS)

    Forster, J.D.; Cohen, S.

    1980-04-01

    After introducing the financial analyses, discount rates, and interest rates involved, the study discusses existing government guidelines for establishing charges for any service provided by the government to be paid by users of those services. Three current government user charges are analyzed including specifically their interest rate policies and how these charges provide precedent for the spent fuel acceptance and disposal fee: uranium enrichment services, the sale of electric power, and the delivery of experiments to orbit by the NASA Space Shuttle. The current DOE policy regarding this storage and disposal fee is stated and discussed. Features of this policy include: the full government cost is borne by users of the services provided; the fee is established and due in full at the time of spent fuel delivery; and the fee is adjusted when spent fuel is transferred from the AFR to the repository. Four evaluation criteria for use in analyzing the applications of discount rates in the spent fuel acceptance fee calculation are discussed. Three outstanding issues are discussed

  16. Beyond discounting: possible experimental models of impulse control.

    Science.gov (United States)

    Monterosso, J; Ainslie, G

    1999-10-01

    Animal studies of impulsivity have typically used one of three models: a delay of reward procedure, a differential reinforcement for low rate responding (DRL) procedure, or an autoshaping procedure. In each of these paradigms, we argue, measurement of impulsivity is implicitly or explicitly equated with the effect delay has on the value of reward. The steepness by which delay diminishes value (the temporal discount function) is treated as an index of impulsivity. In order to provide a better analog of human impulsivity, this model needs to be expanded to include the converse of impulsivity - self-control. Through mechanisms such as committing to long range interests before the onset of temptation, or through bundling individual choices into classes of choices that are made at once, human decision-making can often look far less myopic than single trial experiments predict. For people, impulsive behavior may be more often the result of the breakdown of self-control mechanisms than of steep discount functions. Existing animal models of self-control are discussed, and future directions are suggested for psychopharmacological research.

  17. Personality influences temporal discounting preferences: behavioral and brain evidence.

    Science.gov (United States)

    Manning, Joshua; Hedden, Trey; Wickens, Nina; Whitfield-Gabrieli, Susan; Prelec, Drazen; Gabrieli, John D E

    2014-09-01

    Personality traits are stable predictors of many life outcomes that are associated with important decisions that involve tradeoffs over time. Therefore, a fundamental question is how tradeoffs over time vary from person to person in relation to stable personality traits. We investigated the influence of personality, as measured by the Five-Factor Model, on time preferences and on neural activity engaged by intertemporal choice. During functional magnetic resonance imaging (fMRI), participants made choices between smaller-sooner and larger-later monetary rewards. For each participant, we estimated a constant-sensitivity discount function that dissociates impatience (devaluation of future consequences) from time sensitivity (consistency with rational, exponential discounting). Overall, higher neuroticism was associated with a relatively greater preference for immediate rewards and higher conscientiousness with a relatively greater preference for delayed rewards. Specifically, higher conscientiousness correlated positively with lower short-term impatience and more exponential time preferences, whereas higher neuroticism (lower emotional stability) correlated positively with higher short-term impatience and less exponential time preferences. Cognitive-control and reward brain regions were more activated when higher conscientiousness participants selected a smaller-sooner reward and, conversely, when higher neuroticism participants selected a larger-later reward. The greater activations that occurred when choosing rewards that contradicted personality predispositions may reflect the greater recruitment of mental resources needed to override those predispositions. These findings reveal that stable personality traits fundamentally influence how rewards are chosen over time. Copyright © 2014 Elsevier Inc. All rights reserved.

  18. Deeply discounted medications: Implications of generic prescription drug wars.

    Science.gov (United States)

    Czechowski, Jessica L; Tjia, Jennifer; Triller, Darren M

    2010-01-01

    To describe the history of generic prescription pricing programs at major pharmacy chains and their potential implications on prescribing, quality of care, and patient safety. Publicly available generic prescription discount program drug lists as of May 1, 2009. Fierce competition among major pharmacy chains such as Walgreens, CVS, and Walmart has led to a generic prescription pricing war with unclear public health implications. Introduced in 2006, currently 7 of the 10 largest pharmacy chains advertise a version of a deeply discounted medication (DDM) program, accounting for more than 25,000 locations nationally. By early 2008, almost 70 million Americans had used these programs. Although DDM programs lower drug costs for many patients, DDM formularies include potentially ineffective or harmful medications, have the potential to influence physician prescribing behavior, and may impair pharmacists' ability to review complete drug-dispensing records. DDMs are widespread but have the potential for unintended consequences on patients, providers, and the health care system. A systematic review of DDMs needs to evaluate the clinical, economic, and system-level implications of such programs.

  19. Time-discounting and tobacco smoking: a systematic review and network analysis.

    Science.gov (United States)

    Barlow, Pepita; McKee, Martin; Reeves, Aaron; Galea, Gauden; Stuckler, David

    2017-06-01

    Tobacco smoking harms health, so why do people smoke and fail to quit? An explanation originating in behavioural economics suggests a role for time-discounting, which describes how the value of a reward, such as better health, decreases with delay to its receipt. A large number of studies test the relationship of time-discounting with tobacco outcomes but the temporal pattern of this relationship and its variation according to measurement methods remain unclear. We review the association between time-discounting and smoking across (i) the life course, from initiation to cessation, and (ii) diverse discount measures. We identified 69 relevant studies in Web of Science and PubMed. We synthesized findings across methodologies and evaluated discount measures, study quality and cross-disciplinary fertilization. In 44 out of 54 studies, smokers more greatly discounted the future than non-smokers and, in longitudinal studies, higher discounting predicted future smoking. Smokers with lower time-discount rates achieved higher quit rates. Findings were consistent across studies measuring discount rates using hypothetical monetary or cigarette reward scenarios. The methodological quality of the majority of studies was rated as 'moderate' and co-citation analysis revealed an isolation of economics journals and a dearth of studies in public health. There is moderate yet consistent evidence that high time-discounting is a risk factor for smoking and unsuccessful cessation. Policy scenarios assuming a flat rate of population discounting may inadequately capture smokers' perceptions of costs and benefits. © The Author 2016; Published by Oxford University Press on behalf of the International Epidemiological Association

  20. Temporal discounting across three psychiatric disorders: Anorexia nervosa, obsessive compulsive disorder, and social anxiety disorder

    Science.gov (United States)

    Steinglass, Joanna E.; Lempert, Karolina M.; Choo, Tse-Hwei; Kimeldorf, Marcia B.; Wall, Melanie; Walsh, B. Timothy; Fyer, Abby J.; Schneier, Franklin R.; Simpson, H. Blair

    2018-01-01

    Background Temporal discounting refers to the tendency for rewards to lose value as the expected delay to receipt increases. Individuals with anorexia nervosa (AN) have been found to show reduced temporal discounting rates, indicating a greater preference for delayed rewards compared to healthy peers. Obsessive–compulsive disorder (OCD) and social anxiety disorder (SAD) commonly co-occur with AN, and anxiety has been related to development and prognosis of AN. We examined whether reduced temporal discounting is present across these potentially related disorders, and explored the relationship between temporal discounting and anxiety trans-diagnostically. Methods One hundred ninety six individuals (75 healthy controls (HC); 50 OCD; 27 AN; 44 SAD) completed two temporal discounting tasks in which they chose between smaller-sooner and larger-later monetary rewards. Two measures of discounting—discount rate and discount factor—were compared between diagnostic groups, and associations with anxious traits were examined. Results Individuals with AN showed decreased temporal discounting compared to HC. OCD and SAD groups did not differ significantly from HC. Across the sample, anxiety was associated with decreased discounting; more anxious individuals showed a greater preference for delayed reward. Conclusions We replicated the findings that individuals with AN show an increased preference for delayed reward relative to HC and that individuals with OCD do not differ from HC. We also showed that individuals with SAD do not differ from HC in discounting. Across this large sample, two measures of anxious temperament were associated with temporal discounting. These data raise new questions about the relationship between this dimensional trait and psychopathology. PMID:28009473

  1. Fisica solare

    CERN Document Server

    Degl’Innocenti, Egidio Landi

    2008-01-01

    Il volume è un'introduzione alla Fisica Solare che si propone lo scopo di illustrare alla persona che intende avvicinarsi a questa disciplina (studenti, dottori di ricerca, ricercatori) i meccanismi fisici che stanno alla base della complessa fenomenologia osservata sulla stella a noi più vicina. Il volume non ha la pretesa di essere esauriente (basta pensare che la fisica solare spazia su un gran numero di discipline, quali la Fisica Nucleare, la Termodinamica, L'Elettrodinamica, la Fisica Atomica e Molecolare, la Spettoscopia in tutte le bande dello spettro elettromagnetico, la Magnetoidrodinamica, la Fisica del Plasma, lo sviluppo di nuova strumentazione, l'Ottica, ecc.). Piuttosto, sono stati scelti un numero di argomenti di rilevanza fondamentale nello studio presente del Sole (soprattutto nei riguardi delle osservazioni da terra con grandi telescopi) e su tali argomenti si è cercato di dare una panoramica generale, inclusiva dell'evoluzione storica, senza scendere in soverchi dettagli. Siccome la Fis...

  2. Solar engineering 1994

    International Nuclear Information System (INIS)

    Klett, D.E.; Hogan, R.E.; Tanaka, Tadayoshi

    1994-01-01

    This volume of 83 papers constitutes the Proceedings of the 1994 International Solar Energy Conference held March 27--30, 1994 in San Francisco, California. The Conference was jointly sponsored by the Solar Energy Division of the American Society of Mechanical Engineers, The Japan Society of Mechanical Engineers and the Japan Solar Energy Society. This is the fourth cooperation between ASME, JSME and JSES in cosponsoring the International Solar Energy Conference. The papers cover a wide range of solar technologies from low temperature solar ponds and desalinization to high temperature concentrators for space applications and central receivers for terrestrial power generation. Other topics covered include solar detoxification of hazardous waste, dish Stirling systems, solar cooling, photovoltaics, building energy analysis and conservation, simulation, and testing and measurement techniques. All papers were indexed separately for the data base

  3. Delay and probability discounting of sexual and monetary outcomes in individuals with cocaine use disorders and matched controls.

    Science.gov (United States)

    Johnson, Matthew W; Johnson, Patrick S; Herrmann, Evan S; Sweeney, Mary M

    2015-01-01

    Individuals with cocaine use disorders are disproportionately affected by HIV/AIDS, partly due to higher rates of unprotected sex. Recent research suggests delay discounting of condom use is a factor in sexual HIV risk. Delay discounting is a behavioral economic concept describing how delaying an event reduces that event's value or impact on behavior. Probability discounting is a related concept describing how the uncertainty of an event decreases its impact on behavior. Individuals with cocaine use disorders (n = 23) and matched non-cocaine-using controls (n = 24) were compared in decision-making tasks involving hypothetical outcomes: delay discounting of condom-protected sex (Sexual Delay Discounting Task), delay discounting of money, the effect of sexually transmitted infection (STI) risk on likelihood of condom use (Sexual Probability Discounting Task), and probability discounting of money. The Cocaine group discounted delayed condom-protected sex (i.e., were more likely to have unprotected sex vs. wait for a condom) significantly more than controls in two of four Sexual Delay Discounting Task partner conditions. The Cocaine group also discounted delayed money (i.e., preferred smaller immediate amounts over larger delayed amounts) significantly more than controls. In the Sexual Probability Discounting Task, both groups showed sensitivity to STI risk, however the groups did not differ. The Cocaine group did not consistently discount probabilistic money more or less than controls. Steeper discounting of delayed, but not probabilistic, sexual outcomes may contribute to greater rates of sexual HIV risk among individuals with cocaine use disorders. Probability discounting of sexual outcomes may contribute to risk of unprotected sex in both groups. Correlations showed sexual and monetary results were unrelated, for both delay and probability discounting. The results highlight the importance of studying specific behavioral processes (e.g., delay and probability

  4. Delay and probability discounting of sexual and monetary outcomes in individuals with cocaine use disorders and matched controls.

    Directory of Open Access Journals (Sweden)

    Matthew W Johnson

    Full Text Available Individuals with cocaine use disorders are disproportionately affected by HIV/AIDS, partly due to higher rates of unprotected sex. Recent research suggests delay discounting of condom use is a factor in sexual HIV risk. Delay discounting is a behavioral economic concept describing how delaying an event reduces that event's value or impact on behavior. Probability discounting is a related concept describing how the uncertainty of an event decreases its impact on behavior. Individuals with cocaine use disorders (n = 23 and matched non-cocaine-using controls (n = 24 were compared in decision-making tasks involving hypothetical outcomes: delay discounting of condom-protected sex (Sexual Delay Discounting Task, delay discounting of money, the effect of sexually transmitted infection (STI risk on likelihood of condom use (Sexual Probability Discounting Task, and probability discounting of money. The Cocaine group discounted delayed condom-protected sex (i.e., were more likely to have unprotected sex vs. wait for a condom significantly more than controls in two of four Sexual Delay Discounting Task partner conditions. The Cocaine group also discounted delayed money (i.e., preferred smaller immediate amounts over larger delayed amounts significantly more than controls. In the Sexual Probability Discounting Task, both groups showed sensitivity to STI risk, however the groups did not differ. The Cocaine group did not consistently discount probabilistic money more or less than controls. Steeper discounting of delayed, but not probabilistic, sexual outcomes may contribute to greater rates of sexual HIV risk among individuals with cocaine use disorders. Probability discounting of sexual outcomes may contribute to risk of unprotected sex in both groups. Correlations showed sexual and monetary results were unrelated, for both delay and probability discounting. The results highlight the importance of studying specific behavioral processes (e.g., delay and

  5. Delay Discounting of Losses in Alcohol Use Disorders and Antisocial Psychopathology: Effects of a Working Memory Load.

    Science.gov (United States)

    Gerst, Kyle R; Gunn, Rachel L; Finn, Peter R

    2017-10-01

    Alcohol use disorders (AUDs) are associated with increased discounting of delayed rewards and reduced executive working memory (eWM) capacity. This association is amplified when comorbid with antisocial psychopathology (AP). Furthermore, recent studies suggest that reduced WM capacity is associated with disinhibited decisions reflected by increased impulsive decision making on the delay discounting of rewards task. While discounting of delayed rewards is well studied, the discounting of delayed losses has received significantly less experimental attention. The current study investigated (i) the rate of discounting of delayed losses in individuals with AUD only (n = 61), AUD with comorbid AP (n = 79) and healthy controls (n = 64); (ii) the relationship between eWM capacity and discounting of delayed losses; and (iii) the effect of a WM load on discounting of delayed losses. Discounting performance was assessed using a computerized discounting of delayed losses task. Results showed that the AUD-only and AUD-AP groups had higher rates of discounting of delayed losses and lower eWM capacity compared to the control groups. Lower individual eWM capacity was associated with increased discounting of delayed losses. However, WM load did not increase discounting rates overall. These results support the hypothesis that greater discounting of delayed losses is associated with AUD and comorbid AP problems and lower individual eWM capacity. Copyright © 2017 by the Research Society on Alcoholism.

  6. A random utility model of delay discounting and its application to people with externalizing psychopathology.

    Science.gov (United States)

    Dai, Junyi; Gunn, Rachel L; Gerst, Kyle R; Busemeyer, Jerome R; Finn, Peter R

    2016-10-01

    Previous studies have demonstrated that working memory capacity plays a central role in delay discounting in people with externalizing psychopathology. These studies used a hyperbolic discounting model, and its single parameter-a measure of delay discounting-was estimated using the standard method of searching for indifference points between intertemporal options. However, there are several problems with this approach. First, the deterministic perspective on delay discounting underlying the indifference point method might be inappropriate. Second, the estimation procedure using the R2 measure often leads to poor model fit. Third, when parameters are estimated using indifference points only, much of the information collected in a delay discounting decision task is wasted. To overcome these problems, this article proposes a random utility model of delay discounting. The proposed model has 2 parameters, 1 for delay discounting and 1 for choice variability. It was fit to choice data obtained from a recently published data set using both maximum-likelihood and Bayesian parameter estimation. As in previous studies, the delay discounting parameter was significantly associated with both externalizing problems and working memory capacity. Furthermore, choice variability was also found to be significantly associated with both variables. This finding suggests that randomness in decisions may be a mechanism by which externalizing problems and low working memory capacity are associated with poor decision making. The random utility model thus has the advantage of disclosing the role of choice variability, which had been masked by the traditional deterministic model. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

  7. Discounting and the social cost of carbon: A closer look at uncertainty

    NARCIS (Netherlands)

    Guo, J.K.; Hepburn, C.; Tol, R.S.J.; Anthoff, D.

    2006-01-01

    Recently, in the economics literature, several papers have put forward arguments for using a declining discount rate in social-cost benefit analysis. This paper examines the impact of employing a declining discount rate on the social cost of carbon-the marginal social damage from a ton of emitted

  8. The meanings of discounts in contemporary art markets: the case of India

    NARCIS (Netherlands)

    Komarova, N.

    2015-01-01

    Although discounts in art markets are commonplace, the phenomenon remains largely unresearched. This paper looks at how art market actors understand the functions of discounts, focusing on ‘suppliers’ of the market and drawing on qualitative interviews with artists and art dealers from New Delhi and

  9. Beyond the Shadow of a Trait: Understanding Discounting through Item-Level Analysis of Personality Scales

    Science.gov (United States)

    Charlton, Shawn R.; Gossett, Bradley D.; Charlton, Veda A.

    2011-01-01

    Temporal discounting, the loss in perceived value associated with delayed outcomes, correlates with a number of personality measures, suggesting that an item-level analysis of trait measures might provide a more detailed understanding of discounting. The current report details two studies that investigate the utility of such an item-level…

  10. When Discounts Hurt Sales: The Case of Daily-Deal Markets

    NARCIS (Netherlands)

    Z. Cao (Zike); K.L. Hui (Kai-Lung); Xu, H.

    2017-01-01

    textabstractWe investigate whether the discounts offered by online daily deals help attract consumer purchases. By tracking the sales of 19,978 deals on Groupon.com and conducting a battery of identification and falsification tests, we find that deep discounts reduce sales. A one-percent increase in

  11. 78 FR 16706 - Change in Discount Rate for Water Resources Planning

    Science.gov (United States)

    2013-03-18

    ... 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 for Federal water resources planning...

  12. 75 FR 8106 - Change in Discount Rate for Water Resources Planning

    Science.gov (United States)

    2010-02-23

    ... 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 for Federal water resources planning...

  13. 75 FR 82066 - Change in Discount Rate for Water Resources Planning

    Science.gov (United States)

    2010-12-29

    ... 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 for Federal water resources planning...

  14. 76 FR 73674 - Change in Discount Rate for Water Resources Planning

    Science.gov (United States)

    2011-11-29

    ... 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 for Federal water resources planning...

  15. Does private-label production by national-brand manufacturers create discounter goodwill?

    NARCIS (Netherlands)

    Ter Braak, A.M.; Deleersnyder, B.; Geyskens, I.; Dekimpe, M.G.

    2013-01-01

    Discount stores have a private-label dominated assortment where national brands have only limited shelf access. These limited spots are in high demand by national-brand manufacturers. We examine whether private-label production by leading national-brand manufacturers for two important discounters

  16. 77 FR 1743 - Discount Rates for Cost-Effectiveness Analysis of Federal Programs

    Science.gov (United States)

    2012-01-11

    ... OFFICE OF MANAGEMENT AND BUDGET Discount Rates for Cost-Effectiveness Analysis of Federal Programs... Appendix C are to be used for cost-effectiveness analysis, including lease-purchase analysis, as specified... (Revised December 2011) Discount Rates for Cost-Effectiveness, Lease Purchase, and Related Analyses...

  17. 76 FR 7881 - Discount Rates for Cost-Effectiveness Analysis of Federal Programs

    Science.gov (United States)

    2011-02-11

    ... OFFICE OF MANAGEMENT AND BUDGET Discount Rates for Cost-Effectiveness Analysis of Federal Programs... Appendix C are to be used for cost-effectiveness analysis, including lease-purchase analysis, as specified... (Revised December 2010) DISCOUNT RATES FOR COST-EFFECTIVENESS, LEASE PURCHASE, AND RELATED ANALYSES...

  18. 78 FR 6140 - Discount Rates for Cost-Effectiveness Analysis of Federal Programs

    Science.gov (United States)

    2013-01-29

    ... OFFICE OF MANAGEMENT AND BUDGET Discount Rates for Cost-Effectiveness Analysis of Federal Programs... in Appendix C are to be used for cost-effectiveness analysis, including lease-purchase analysis, as...) Discount Rates for Cost-Effectiveness, Lease Purchase, and Related Analyses Effective Dates. This appendix...

  19. Changing Delay Discounting in the Light of the Competing Neurobehavioral Decision Systems Theory: A Review

    Science.gov (United States)

    Koffarnus, Mikhail N.; Jarmolowicz, David P.; Mueller, E. Terry; Bickel, Warren K.

    2013-01-01

    Excessively devaluing delayed reinforcers co-occurs with a wide variety of clinical conditions such as drug dependence, obesity, and excessive gambling. If excessive delay discounting is a trans-disease process that underlies the choice behavior leading to these and other negative health conditions, efforts to change an individual's discount rate…

  20. Long-term impacts of mega-projects: the discount rate

    NARCIS (Netherlands)

    Koopmans, C.; Rietveld, P.; Priemus, H.; van Wee, B.

    2013-01-01

    In social cost-benefit analysis (SCBA), discount rates are used to convert costs and benefits that occur at different points in time, to present values that can be added and subtracted. Especially if important costs and benefits occur in the long term (more than say 30 years), the discount rate may

  1. The consumption discount rate for the distant future (if we do not die out)

    NARCIS (Netherlands)

    Vermeylen, K.

    2013-01-01

    Gollier and Weitzman (2010) show that if future consumption discount rates are uncertain and persistent, the consumption discount rate should decline to its lowest possible value for events in the most distant future. In this paper, I argue that the lowest possible growth rate of consumption per

  2. Stochastic Discount Factor Approach to International Risk-Sharing:A Robustness Check of the Bilateral Setting

    NARCIS (Netherlands)

    Hadzi-Vaskov, M.; Kool, C.J.M.

    2007-01-01

    This paper presents a robustness check of the stochastic discount factor approach to international (bilateral) risk-sharing given in Brandt, Cochrane, and Santa-Clara (2006). We demonstrate two main inherent limitations of the bilateral SDF approach to international risk-sharing. First, the discount

  3. Neural congruence between intertemporal and interpersonal self-control: Evidence from delay and social discounting.

    Science.gov (United States)

    Hill, Paul F; Yi, Richard; Spreng, R Nathan; Diana, Rachel A

    2017-11-15

    Behavioral studies using delay and social discounting as indices of self-control and altruism, respectively, have revealed functional similarities between farsighted and social decisions. However, neural evidence for this functional link is lacking. Twenty-five young adults completed a delay and social discounting task during fMRI scanning. A spatiotemporal partial least squares analysis revealed that both forms of discounting were well characterized by a pattern of brain activity in areas comprising frontoparietal control, default, and mesolimbic reward networks. Both forms of discounting appear to draw on common neurocognitive mechanisms, regardless of whether choices involve intertemporal or interpersonal outcomes. We also observed neural profiles differentiating between high and low discounters. High discounters were well characterized by increased medial temporal lobe and limbic activity. In contrast, low discount rates were associated with activity in the medial prefrontal cortex and right temporoparietal junction. This pattern may reflect biological mechanisms underlying behavioral heterogeneity in discount rates. Copyright © 2017 Elsevier Inc. All rights reserved.

  4. Determining a Relationship between Higher Education Financial Position and Tuition Discount Rates

    Science.gov (United States)

    Browning, Julianna

    2013-01-01

    Institutions have increased the practice of tuition discounting, that is, the strategic use of price discrimination. During the past 30 years, both the average percent discount given to students and the proportion of students receiving tuition breaks have increased. As this practice has increased, there are financial determinants and implications…

  5. Discounting of Delayed Food Rewards in Pigeons and Rats: Is There a Magnitude Effect

    Science.gov (United States)

    Green, Leonard; Myerson, Joel; Holt, Daniel D.; Slavin, John R.; Estle, Sara J.

    2004-01-01

    Temporal discounting refers to the decrease in the present, subjective value of a reward as the time to its receipt increases. Results from humans have shown that a hyperbola-like function describes the form of the discounting function when choices involve hypothetical monetary rewards. In addition, magnitude effects have been reported in which…

  6. Temporal discounting in life cycle assessment: A critical review and theoretical framework

    International Nuclear Information System (INIS)

    Yuan, Chris; Wang, Endong; Zhai, Qiang; Yang, Fan

    2015-01-01

    Temporal homogeneity of inventory data is one of the major problems in life cycle assessment (LCA). Addressing temporal homogeneity of life cycle inventory data is important in reducing the uncertainties and improving the reliability of LCA results. This paper attempts to present a critical review and discussion on the fundamental issues of temporal homogeneity in conventional LCA and propose a theoretical framework for temporal discounting in LCA. Theoretical perspectives for temporal discounting in life cycle inventory analysis are discussed first based on the key elements of a scientific mechanism for temporal discounting. Then generic procedures for performing temporal discounting in LCA is derived and proposed based on the nature of the LCA method and the identified key elements of a scientific temporal discounting method. A five-step framework is proposed and reported in details based on the technical methods and procedures needed to perform a temporal discounting in life cycle inventory analysis. Challenges and possible solutions are also identified and discussed for the technical procedure and scientific accomplishment of each step within the framework. - Highlights: • A critical review for temporal homogeneity problem of life cycle inventory data • A theoretical framework for performing temporal discounting on inventory data • Methods provided to accomplish each step of the temporal discounting framework

  7. Advantages of geosynchronous solar power satellites for terrestrial base-load electrical supply compared to other renewable energy sources - or why civilization needs solar power satellites

    Energy Technology Data Exchange (ETDEWEB)

    Strickland, J.K. Jr. [Texas Univ., Austin, TX (United States)

    1998-06-01

    The arguments in favour of using solar power satellites for primary base-load electrical supply are presented and compared with the advantages and drawbacks of other renewable energy sources, especially ground solar and wind systems. Popular misconceptions about energy use and the importation of space solar energy to the Earth`s surface are examined and discounted. Finally an optimal mix of space solar (focusing on geosynchronous solar power satellites), ground solar, and other energy sources is described which, it is argued, would be capable to meet future global energy demand. (UK)

  8. Social Discounting of Large Dams with Climate Change Uncertainty

    Directory of Open Access Journals (Sweden)

    Marc Jeuland

    2010-06-01

    This paper reviews the recent discounting controversy and examines its implications for the appraisal of an illustrative hydropower project in Ethiopia. The analysis uses an integrated hydro-economic model that accounts for how the dam’s transboundary impacts vary with climate change. The real value of the dam is found to be highly sensitive to assumptions about future economic growth. The argument for investment is weakest under conditions of robust global economic growth, particularly if these coincide with unfavourable hydrological or development factors related to the project. If however long-term growth is reduced, the value of the dam tends to increase. There may also be distributional or local arguments favouring investment, if growth in the investment region lags behind that of the rest of the globe. In such circumstances, a large dam can be seen as a form of insurance that protects future vulnerable generations against the possibility of macroeconomic instability or climate shocks.

  9. Discount rates, equity weights and the social cost of carbon

    International Nuclear Information System (INIS)

    Hope, Chris

    2008-01-01

    Equity weighting has been proposed as a way of allowing welfare equivalents to be included in the social cost of carbon since a dollar to a poor person is worth more than a dollar to a rich one. Here we use the PAGE2002 integrated assessment model to show that the social cost of carbon is higher without equity weights (an elasticity of marginal utility with respect to income of 0) than with them. This might seem counter-intuitive, but it comes about because of the logical link between equity weights and discount rates; as the elasticity goes from 0 to - 0.5 to - 1.0, the social rate of time preference rises, and the drop in present values that results far outweighs the small increase in impacts that equity weights bring. (author)

  10. Accelerated decomposition techniques for large discounted Markov decision processes

    Science.gov (United States)

    Larach, Abdelhadi; Chafik, S.; Daoui, C.

    2017-12-01

    Many hierarchical techniques to solve large Markov decision processes (MDPs) are based on the partition of the state space into strongly connected components (SCCs) that can be classified into some levels. In each level, smaller problems named restricted MDPs are solved, and then these partial solutions are combined to obtain the global solution. In this paper, we first propose a novel algorithm, which is a variant of Tarjan's algorithm that simultaneously finds the SCCs and their belonging levels. Second, a new definition of the restricted MDPs is presented to ameliorate some hierarchical solutions in discounted MDPs using value iteration (VI) algorithm based on a list of state-action successors. Finally, a robotic motion-planning example and the experiment results are presented to illustrate the benefit of the proposed decomposition algorithms.

  11. Temporal discounting rates and their relation to exercise behavior in older adults.

    Science.gov (United States)

    Tate, Linda M; Tsai, Pao-Feng; Landes, Reid D; Rettiganti, Mallikarjuna; Lefler, Leanne L

    2015-12-01

    As our nation's population ages, the rates of chronic illness and disability are expected to increase significantly. Despite the knowledge that exercise may prevent chronic disease and promote health among older adults, many still are inactive. Factors related to exercise behaviors have been explored in recent years. However, temporal discounting is a motivational concept that has not been explored in regard to exercise in older adults. Temporal discounting is a decision making process by which an individual chooses a smaller more immediate reward over a larger delayed reward. The aim of this study was to determine if temporal discounting rates vary between exercising and non-exercising older adults. This study used cross-sectional survey of 137 older adults living in the community. Older adults were recruited from 11 rural Arkansas churches. The Kirby delay-discounting Monetary Choice Questionnaire was used to collect discounting rates and then bivariate analysis was performed to compare temporal discounting rate between the exercisers and non-exercisers. Finally, multivariate analysis was used to compare discounting rate controlling for other covariates. The results indicated that exercising older adults display lower temporal discounting rates than non-exercising older adults. After controlling for education, exercisers still have lower temporal discounting rates than non-exercisers (phealth conditions relate to lack of exercise especially in older adults. This research suggests that if we can find appropriate incentives for discounting individuals, some type of immediate reward, then potentially we can design programs to engage and retain older adults in exercise. Copyright © 2015 Elsevier Inc. All rights reserved.

  12. Probing the Solar Interior

    Indian Academy of Sciences (India)

    Home; Journals; Resonance – Journal of Science Education; Volume 3; Issue 3. Probing the Solar Interior Hearing the Heartbeats of the Sun. Ashok Ambastha. General ... Author Affiliations. Ashok Ambastha1. Joint In-Charge Udaipur Solar Observatory Physical Research laboratory P.O. Box No. 198 Udaipur 313 001, India ...

  13. Discounting of Monetary Rewards That Are Both Delayed and Probabilistic: Delay and Probability Combine Multiplicatively, Not Additively

    Science.gov (United States)

    Vanderveldt, Ariana; Green, Leonard; Myerson, Joel

    2015-01-01

    The value of an outcome is affected both by the delay until its receipt (delay discounting) and by the likelihood of its receipt (probability discounting). Despite being well-described by the same hyperboloid function, delay and probability discounting involve fundamentally different processes, as revealed, for example, by the differential effects…

  14. Testing the Reliability of Delay Discounting of Ten Commodities Using the Fill-in-the-Blank Method

    Science.gov (United States)

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

    2011-01-01

    Several measures of delay discounting have been shown to be reliable over periods of up to 3 months. In the present study, 115 participants completed a fill-in-the-blank (FITB) delay-discounting task on sets of 5 different commodities, 12 weeks apart. Results showed that discounting rates were not well described by a hyperbolic function but were…

  15. 26 CFR 1.466-1 - Method of accounting for the redemption cost of qualified discount coupons.

    Science.gov (United States)

    2010-04-01

    ... the coupon. (2) Definitions—(i) Discount coupon. A discount coupon is a sales promotion device used to... 26 Internal Revenue 6 2010-04-01 2010-04-01 false Method of accounting for the redemption cost of qualified discount coupons. 1.466-1 Section 1.466-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF...

  16. A Job with a Future? Delay Discounting, Magnitude Effects, and Domain Independence of Utility for Career Decisions.

    Science.gov (United States)

    Schoenfelder, Thomas E.; Hantula, Donald A.

    2003-01-01

    Seniors (n=20) assessed two job offers with differences in domain (salary/tasks), delay (career-long earnings), and magnitude (initial salary offer). Contrary to discounted utility theory, choices reflected nonconstant discount rates for future salary/tasks (delay effect), lower discount rates for salary/preferred tasks (magnitude effect), and a…

  17. Exchanging the liquidity hypothesis: Delay discounting of money and self-relevant non-money rewards.

    Science.gov (United States)

    Stuppy-Sullivan, Allison M; Tormohlen, Kayla N; Yi, Richard

    2016-01-01

    Evidence that primary rewards (e.g., food and drugs of abuse) are discounted more than money is frequently attributed to money's high degree of liquidity, or exchangeability for many commodities. The present study provides some evidence against this liquidity hypothesis by contrasting delay discounting of monetary rewards (liquid) and non-monetary commodities (non-liquid) that are self-relevant and utility-matched. Ninety-seven (97) undergraduate students initially completed a conventional binary-choice delay discounting of money task. Participants returned one week later and completed a self-relevant commodity delay discounting task. Both conventional hypothesis testing and more-conservative tests of statistical equivalence revealed correspondence in rate of delay discounting of money and self-relevant commodities, and in one magnitude condition, less discounting for the latter. The present results indicate that liquidity of money cannot fully account for the lower rate of delay discounting compared to non-money rewards. Copyright © 2015 Elsevier B.V. All rights reserved.

  18. Delay or probability discounting in a model of impulsive behavior: effect of alcohol.

    Science.gov (United States)

    Richards, J B; Zhang, L; Mitchell, S H; de Wit, H

    1999-01-01

    Little is known about the acute effects of drugs of abuse on impulsivity and self-control. In this study, impulsivity was assessed in humans using a computer task that measured delay and probability discounting. Discounting describes how much the value of a reward (or punisher) is decreased when its occurrence is either delayed or uncertain. Twenty-four healthy adult volunteers ingested a moderate dose of ethanol (0.5 or 0.8 g/kg ethanol: n = 12 at each dose) or placebo before completing the discounting task. In the task the participants were given a series of choices between a small, immediate, certain amount of money and $10 that was either delayed (0, 2, 30, 180, or 365 days) or probabilistic (i.e., certainty of receipt was 1.0, .9, .75, .5, or .25). The point at which each individual was indifferent between the smaller immediate or certain reward and the $10 delayed or probabilistic reward was identified using an adjusting-amount procedure. The results indicated that (a) delay and probability discounting were well described by a hyperbolic function; (b) delay and probability discounting were positively correlated within subjects; (c) delay and probability discounting were moderately correlated with personality measures of impulsivity; and (d) alcohol had no effect on discounting. PMID:10220927

  19. Trading Later Rewards for Current Pleasure: Pornography Consumption and Delay Discounting.

    Science.gov (United States)

    Negash, Sesen; Sheppard, Nicole Van Ness; Lambert, Nathaniel M; Fincham, Frank D

    2016-01-01

    Internet pornography is a multi-billion-dollar industry that has grown increasingly accessible. Delay discounting involves devaluing larger, later rewards in favor of smaller, more immediate rewards. The constant novelty and primacy of sexual stimuli as particularly strong natural rewards make Internet pornography a unique activator of the brain's reward system, thereby having implications for decision-making processes. Based on theoretical studies of evolutionary psychology and neuroeconomics, two studies tested the hypothesis that consuming Internet pornography would relate to higher rates of delay discounting. Study 1 used a longitudinal design. Participants completed a pornography use questionnaire and a delay discounting task at Time 1 and then again four weeks later. Participants reporting higher initial pornography use demonstrated a higher delay discounting rate at Time 2, controlling for initial delay discounting. Study 2 tested for causality with an experimental design. Participants were randomly assigned to abstain from either their favorite food or pornography for three weeks. Participants who abstained from pornography use demonstrated lower delay discounting than participants who abstained from their favorite food. The finding suggests that Internet pornography is a sexual reward that contributes to delay discounting differently than other natural rewards. Theoretical and clinical implications of these studies are highlighted.

  20. Low Discounting Behavior among Small-Scale Fishers in Fiji and Sabah, Malaysia

    Directory of Open Access Journals (Sweden)

    Louise S. L. Teh

    2011-06-01

    Full Text Available Understanding the socio-economic factors that are associated with fishers’ willingness to delay gratification may be useful for designing appropriate fisheries management and conservation policies. We aim to identify the predictors of low discounting behaviour among fishers, which is analogous to having a longer-term outlook. We base our empirical study on two small-scale tropical reef fisheries in Sabah, Malaysia, and Fiji. We use an experimental approach to identify fishers with low discount rates, and then use a logistic regression model to identify predictors of low discount rates. We find that 42% of the respondents have low discount rates, and that site and village level variables are significant predictors of low discount rates. Within Sabah and Fiji, boat ownership and relative catch differentiate low discounting from non-low discounting fishers, but these variables have contradictory effects in Sabah and Fiji. Overall, our results imply that a substantial proportion of reef fishers may be willing to engage in conservation initiatives; however, local socio-cultural, economic, and ecological conditions have to be considered first during the process of designing management interventions.

  1. Future Discounting in Congo Basin Hunter-Gatherers Declines with Socio-Economic Transitions.

    Directory of Open Access Journals (Sweden)

    Gul Deniz Salali

    Full Text Available Humans have a tendency to discount the future; that is we value small, short-term rewards over larger, long-term rewards. The degree of future discounting, however, changes in response to socio-ecological factors. Here, we study Mbendjele BaYaka hunter-gatherers of northern Congo and their farmer neighbours to investigate adaptations in inter-temporal preferences in humans. We argue that in immediate-return systems, where food storage is absent and egalitarianism is enforced through levelling mechanisms, future discounting is an adaptive strategy to prevent wealth accumulation and the emergence of hierarchies. This ensures food sharing and allows for survival in unpredictable environments where there is risk of an energy shortfall. On the other hand, when food storage is made possible by the emergence of agriculture or as seen in some delayed-return hunter-gatherer populations, wealth accumulation, hierarchies and lower discount rates become the adaptive strategy. Therefore, individuals in immediate-return, egalitarian societies will discount the future more than those in non-egalitarian, delayed-return societies. Consistent with the predictions we found that market integration and socio-economic transitions decrease the future discounting in Mbendjele hunter-gatherers. Our measures of socio-economic differences marked this transition in hunter-gatherers living in a logging town. The degree of future-discounting was the same between more market-integrated hunter-gatherers and their farmer neighbours.

  2. The effect of natural scenes on temporal and probability discounting

    Directory of Open Access Journals (Sweden)

    2015-09-01

    Results: There was no significant difference in delay discounting between groups F(1,172 = .613, p = .607. Males discounted significantly less than females on temporal and probability discounting tasks F(1,300 = 6.795, p = .010; F(1,300 = 9.941, p = .002, respectively. Older individuals delay discount significantly less than younger individuals F(3,300 = 11.826, p < .001. Older individuals had significantly higher positive affect than younger individuals F(3,300 = 7.956, p < .001. Conclusions: The discounting functions obtained were consistent with previous studies. The results for age and gender on discounting contributes to discussion of these matters: While lower levels of impulsivity in older adults is perhaps to be expected, the gender effect obtained here is less easily explained. Contrary to Berry et al. (2014 we found no evidence for any effect of viewing natural scenes on discounting, regardless of their aesthetic properties. While this discrepancy could relate to the differences in methodology employed, it would suggest that the claims for an effect of natural scenes on impulsivity should be treated with caution.

  3. Delay discounting, self-control, and substance use among adult drug court participants.

    Science.gov (United States)

    Jones, Craig G A; Fearnley, Helen; Panagiotopoulos, Barbara; Kemp, Richard I

    2015-08-01

    The current study examined the relationship between two measures of impulsiveness and the odds of substance use among a sample of participants on an Australian drug court (n=80). Participants completed a computer-based delay discounting task, a paper-based delay discounting task, and a questionnaire-based measure of self-control. The delay discounting tasks measured individual differences in the value attributed to distal outcomes, which is one aspect of impulsive behavior that has been found to be over-represented among illicit drug users. The relationship between the measures of impulsiveness and the odds of substance use was assessed by fitting longitudinal panel regression models with adjustment for informative treatment dropout. Consistent with previous research, drug court participants were found to have higher discount rates (i.e. were more impulsive) than a noncriminal population of university students (n=101). Drug court participants also discounted delayed gains more than delayed losses. Delay discounting was not significantly associated with the odds of substance use on the drug court program. There was a positive relationship between the survey-based measure of impulsivity and the mean substance use frequency. The authors conclude that impulsivity is correlated with substance use among drug court participants but not when measuring impulsivity using a delay discounting paradigm.

  4. Harnessing the uncertainty monster: Putting quantitative constraints on the intergenerational social discount rate

    Science.gov (United States)

    Lewandowsky, Stephan; Freeman, Mark C.; Mann, Michael E.

    2017-09-01

    There is broad consensus among economists that unmitigated climate change will ultimately have adverse global economic consequences, that the costs of inaction will likely outweigh the cost of taking action, and that social planners should therefore put a price on carbon. However, there is considerable debate and uncertainty about the appropriate value of the social discount rate, that is the extent to which future damages should be discounted relative to mitigation costs incurred now. We briefly review the ethical issues surrounding the social discount rate and then report a simulation experiment that constrains the value of the discount rate by considering 4 sources of uncertainty and ambiguity: Scientific uncertainty about the extent of future warming, social uncertainty about future population and future economic development, political uncertainty about future mitigation trajectories, and ethical ambiguity about how much the welfare of future generations should be valued today. We compute a certainty-equivalent declining discount rate that accommodates all those sources of uncertainty and ambiguity. The forward (instantaneous) discount rate converges to a value near 0% by century's end and the spot (horizon) discount rate drops below 2% by 2100 and drops below previous estimates by 2070.

  5. Psychological aspects of nuclear waste disposal: Long time perception and the question of discounting of risks

    International Nuclear Information System (INIS)

    Karlsson, G.; Svenson, O.

    1988-01-01

    Subjects of different ages and basic training indicated how they perceived risks related to spent nuclear fuel storage and located at different points of time into the future. The results indicated that minorities in all groups, ranging from about 10 to 40%, did not want to discount risks into the future. Those who discounted exhibited great inter and intra group variability. The physical discounting curves for e.g. both total radiation and for Pu-239 and -240 are within the range of curves generated by the groups for subjective discounting of risk. Politicians and experts were attributed equal shares of responsibility for risks of spent nuclear fuel in the future. About 10% to 40% of the subjects did not wish to discount responsibility. Discounting rates for those discounting varied so that some subjects decreased the level of responsibility to less than half 10 000 years into the future while others attributed this level of responsibility for 100 000 years and more. (orig./HP)

  6. Grid-connected distributed solar power systems

    Science.gov (United States)

    Moyle, R.; Chernoff, H.; Schweizer, T.

    This paper discusses some important, though often ignored, technical and economic issues of distributed solar power systems: protection of the utility system and nonsolar customers requires suitable interfaced equipment. Purchase criteria must mirror reality; most analyses use life-cycle costing with low discount rates - most buyers use short payback periods. Distributing, installing, and marketing small, distributed solar systems is more costly than most analyses estimate. Results show that certain local conditions and uncommon purchase considerations can combine to make small, distributed solar power attractive, but lower interconnect costs (per kW), lower marketing and product distribution costs, and more favorable purchase criteria make large, centralized solar energy more attractive. Specifically, the value of dispersed solar systems to investors and utilities can be higher than $2000/kw. However, typical residential owners place a value of well under $1000 on the installed system.

  7. Method of levelized discounted costs applied in economic evaluation of nuclear power plant project

    International Nuclear Information System (INIS)

    Tian Li; Wang Yongqing; Liu Jingquan; Guo Jilin; Liu Wei

    2000-01-01

    The main methods of economic evaluation of bid which are in common use are introduced. The characteristics of levelized discounted cost method and its application are presented. The method of levelized discounted cost is applied to the cost calculation of a 200 MW nuclear heating reactor economic evaluation. The results indicate that the method of levelized discounted costs is simple, feasible and which is considered most suitable for the economic evaluation of various case. The method is suggested which is used in the national economic evaluation

  8. Explicit formulas for the variance of discounted life-cycle cost

    International Nuclear Information System (INIS)

    Noortwijk, Jan M. van

    2003-01-01

    In life-cycle costing analyses, optimal design is usually achieved by minimising the expected value of the discounted costs. As well as the expected value, the corresponding variance may be useful for estimating, for example, the uncertainty bounds of the calculated discounted costs. However, general explicit formulas for calculating the variance of the discounted costs over an unbounded time horizon are not yet available. In this paper, explicit formulas for this variance are presented. They can be easily implemented in software to optimise structural design and maintenance management. The use of the mathematical results is illustrated with some examples

  9. Coordinated Lot-sizing and Dynamic Prizing under a Supplier All-units Quantity Discount

    Directory of Open Access Journals (Sweden)

    Sandra Transchel

    2008-05-01

    Full Text Available We consider an economic order quantity model where the supplier offers an all-units quantity discount and a price sensitive customer demand. We compare a decentralized decision framework where selling price and replenishment policy are determined independently to simultaneous decision making. Constant and dynamic pricing are distinguished. We derive structural properties and develop algorithms that determine the optimal pricing and replenishment policy and show how quantity discounts not only influence the purchasing strategy but also the pricing policy. A sensitivity analysis indicates the impact of the fixed-holding cost ratio, the discount policy, and the customers' price sensitivity on the optimal decisions.

  10. Solar Pilot Plant, Phase I. Preliminary design report. Volume II, Book 2. Central receiver optical model users manual. CDRL item 2. [HELIAKI code

    Energy Technology Data Exchange (ETDEWEB)

    None

    1977-05-01

    HELIAKI is a FORTRAN computer program which simulates the optical/thermal performance of a central receiver solar thermal power plant for the dynamic conversion of solar-generated heat to electricity. The solar power plant which this program simulates consists of a field of individual sun tracking mirror units, or heliostats, redirecting sunlight into a cavity, called the receiver, mounted atop a tower. The program calculates the power retained by that cavity receiver at any point in time or the energy into the receiver over a year's time using a Monte Carlo ray trace technique to solve the multiple integral equations. An artist's concept of this plant is shown.

  11. Characterization of solar cells for space applications. Volume 6: Electrical characteristics of Spectrolab BSF, BSR, textured, 10 ohm-cm, 50 micron advanced OAST solar cells as a function of intensity, temperature, and irradiation

    Science.gov (United States)

    Anspaugh, B. E.; Downing, R. G.; Miyahira, T. F.; Weiss, R. S.

    1979-01-01

    Electrical parametric data are presented on BSF, BSR, textured 10 ohm cm, 50 micron advanced OAST cells in graphical and tabular form as functions of solar illumination intensity, temperature, and 1 MeV electron fluence.

  12. An analysis of the influence of discount sales promotion in consumer buying intent and the moderating effects of attractiveness

    Directory of Open Access Journals (Sweden)

    Fernando de Oliveira Santini

    2015-12-01

    Full Text Available ABSTRACT The purpose of this paper is to analyze the influence of discount sales promotion in the purchase intention and the moderating effects of attractiveness in the relationship between intention to purchase a discounted product and the impulsiveness, hedonic perception and financial risk. Thus, an experiment involving 613 students was conducted. The hypotheses predicted that a product with discount promotion would relate positively with impulsivity, as well as with a hedonic perception about the good offered, and negatively with the perception of financial risk associated with the product offered with discount. A positive moderation was expected of the perceived attractiveness of the announced discount promotion on the intentions of behaviors. The results confirmed the hypothesis, indicating positive effects of impulsivity and hedonic perception by purchasing the discounted products, in addition to the negative link between the intention of purchasing discounted products and the perception of a financial risk. The moderating effects were not confirmed. Final considerations conclude the work.

  13. High temporal discounters overvalue immediate rewards rather than undervalue future rewards: an event-related brain potential study.

    Science.gov (United States)

    Cherniawsky, Avital S; Holroyd, Clay B

    2013-03-01

    Impulsivity is characterized in part by heightened sensitivity to immediate relative to future rewards. Although previous research has suggested that "high discounters" in intertemporal choice tasks tend to prefer immediate over future rewards because they devalue the latter, it remains possible that they instead overvalue immediate rewards. To investigate this question, we recorded the reward positivity, a component of the event-related brain potential (ERP) associated with reward processing, with participants engaged in a task in which they received both immediate and future rewards and nonrewards. The participants also completed a temporal discounting task without ERP recording. We found that immediate but not future rewards elicited the reward positivity. High discounters also produced larger reward positivities to immediate rewards than did low discounters, indicating that high discounters relatively overvalued immediate rewards. These findings suggest that high discounters may be more motivated than low discounters to work for monetary rewards, irrespective of the time of arrival of the incentives.

  14. Solar Indices - Solar Flares

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Collection includes a variety of indices related to solar activity contributed by a number of national and private solar observatories located worldwide. This...

  15. Solar Indices - Solar Ultraviolet

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Collection includes a variety of indices related to solar activity contributed by a number of national and private solar observatories located worldwide. This...

  16. Solar Indices - Solar Corona

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Collection includes a variety of indices related to solar activity contributed by a number of national and private solar observatories located worldwide. This...

  17. Solar Indices - Solar Irradiance

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Collection includes a variety of indices related to solar activity contributed by a number of national and private solar observatories located worldwide. This...

  18. Intergenerational Justice: How Reasonable Man Discounts Climate Damage

    Directory of Open Access Journals (Sweden)

    Marc D. Davidson

    2012-01-01

    Full Text Available Moral philosophers and economists have evaluated the intergenerational problem of climate change by applying the whole gamut of theories on distributive justice. In this article, however, it is argued that intergenerational justice cannot imply the application of moral ideal theories to future generations. The formal principle of equality simply requires us to treat like cases as like. If intergenerational justice is to have any meaning, it would require future generations to receive the same treatment under the law and the same treatment from the authorities, as far as cases are like. In the context of climate change, the reasonable man standard from tort law is of particular relevance. There is no justification to handle pollution across generational boundaries according to norms which differ from the (international laws for handling pollution across national borders. It is argued that this implies, for example, that a zero social rate of time preference should be used in cost-benefit analysis of climate policy: climate damage experienced by future generations should be discounted neither for their higher expected wealth, nor purely for their being remote.

  19. The design, construction, and monitoring of photovoltaic power system and solar thermal system on the Georgia Institute of Technology Aquatic Center. Volume 1

    Energy Technology Data Exchange (ETDEWEB)

    Long, R.C.

    1996-12-31

    This is a report on the feasibility study, design, and construction of a PV and solar thermal system for the Georgia Tech Aquatic Center. The topics of the report include a discussion of site selection and system selection, funding, design alternatives, PV module selection, final design, and project costs. Included are appendices describing the solar thermal system, the SAC entrance canopy PV mockup, and the PV feasibility study.

  20. Benchmarking Discount Rate in Natural Resource Damage Assessment with Risk Aversion.

    Science.gov (United States)

    Wu, Desheng; Chen, Shuzhen

    2017-08-01

    Benchmarking a credible discount rate is of crucial importance in natural resource damage assessment (NRDA) and restoration evaluation. This article integrates a holistic framework of NRDA with prevailing low discount rate theory, and proposes a discount rate benchmarking decision support system based on service-specific risk aversion. The proposed approach has the flexibility of choosing appropriate discount rates for gauging long-term services, as opposed to decisions based simply on duration. It improves injury identification in NRDA since potential damages and side-effects to ecosystem services are revealed within the service-specific framework. A real embankment case study demonstrates valid implementation of the method. © 2017 Society for Risk Analysis.

  1. 26 CFR 1.818-3 - Amortization of premium and accrual of discount.

    Science.gov (United States)

    2010-04-01

    ... required under section 818(b) on account of accruable discounts. (f) Denial of double inclusion. Any amount... section shall not be includible in gross income under section 1232(a) (relating to the taxation of bonds...

  2. The discount rate in the economic evaluation of prevention: a thought experiment

    NARCIS (Netherlands)

    L.G.A. Bonneux (Luc); E. Birnie (Erwin)

    2001-01-01

    textabstractOBJECTIVES: In the standard economic model of evaluation, constant discount rates devalue the long term health benefits of prevention strongly. This study shows that it is unlikely that this reflects societal preference. DESIGN: A thought experiment in a

  3. Reviewing and piloting methods for decreasing discount rates; someone, somewhere in time.

    Science.gov (United States)

    Parouty, Mehraj B Y; Krooshof, Daan G M; Westra, Tjalke A; Pechlivanoglou, Petros; Postma, Maarten J

    2013-08-01

    There has been substantial debate on the need for decreasing discounting for monetary and health gains in economic evaluations. Next to the discussion on differential discounting, a way to identify the need for such discounting strategies is through eliciting the time preferences for monetary and health outcomes. In this article, the authors investigate the perceived time preference for money and health gains through a pilot survey on Dutch university students using methods on functional forms previously suggested. Formal objectives of the study were to review such existing methods and to pilot them on a convenience sample using a questionnaire designed for this specific purpose. Indeed, a negative relation between the time of delay and the variance of the discounting rate for all models was observed. This study was intended as a pilot for a large-scale population-based investigation using the findings from this pilot on wording of the questionnaire, interpretation, scope and analytic framework.

  4. Key Recovery Using Noised Secret Sharing with Discounts over Large Clouds

    OpenAIRE

    JAJODIA , Sushil; Litwin , Witold; Schwarz , Thomas

    2013-01-01

    Encryption key loss problem is the Achilles's heel of cryptography. Key escrow helps, but favors disclosures. Schemes for recoverable encryption keys through noised secret sharing alleviate the dilemma. Key owner escrows a specifically encrypted backup. The recovery needs a large cloud. Cloud cost, money trail should rarefy illegal attempts. We now propose noised secret sharing schemes supporting discounts. The recovery request with discount code lowers the recovery complexity, easily by orde...

  5. Optimizing Discount Rates: Expressing Preferences for Sustainable Outcomes in Present Value Calculations

    OpenAIRE

    Axelrod, David

    2017-01-01

    This paper describes how the discount rate used in present value calculations expresses the preference for sustainability in decision making, and its implication for sustainable economic growth. In essence, the lower the discount rate, the greater the regard for the future, and the more likely we choose behaviors that lead to long-term sustainability. The theoretical framework combines behavioral economics and holonomics, which involve limitations of regard for the future due to constraints o...

  6. Insulin, Central Dopamine D2 Receptors, and Monetary Reward Discounting in Obesity.

    Science.gov (United States)

    Eisenstein, Sarah A; Gredysa, Danuta M; Antenor-Dorsey, Jo Ann; Green, Leonard; Arbeláez, Ana Maria; Koller, Jonathan M; Black, Kevin J; Perlmutter, Joel S; Moerlein, Stephen M; Hershey, Tamara

    2015-01-01

    Animal research finds that insulin regulates dopamine signaling and reward behavior, but similar research in humans is lacking. We investigated whether individual differences in body mass index, percent body fat, pancreatic β-cell function, and dopamine D2 receptor binding were related to reward discounting in obese and non-obese adult men and women. Obese (n = 27; body mass index>30) and non-obese (n = 20; body mass indexmonetary rewards relative to immediate, certain smaller monetary rewards was measured using delayed and probabilistic reward discounting tasks. Positron emission tomography using a non-displaceable D2-specific radioligand, [11C](N-methyl)benperidol quantified striatal D2 receptor binding. Groups differed in body mass index, percent body fat, and disposition index, but not in striatal D2 receptor specific binding or reward discounting. Higher percent body fat in non-obese women related to preference for a smaller, certain reward over a larger, less likely one (greater probabilistic discounting). Lower β-cell function in the total sample and lower insulin sensitivity in obese related to stronger preference for an immediate and smaller monetary reward over delayed receipt of a larger one (greater delay discounting). In obese adults, higher striatal D2 receptor binding related to greater delay discounting. Interestingly, striatal D2 receptor binding was not significantly related to body mass index, percent body fat, or β-cell function in either group. Our findings indicate that individual differences in percent body fat, β-cell function, and striatal D2 receptor binding may each contribute to altered reward discounting behavior in non-obese and obese individuals. These results raise interesting questions about whether and how striatal D2 receptor binding and metabolic factors, including β-cell function, interact to affect reward discounting in humans.

  7. Association of cognition with temporal discounting in community based older persons

    Directory of Open Access Journals (Sweden)

    Boyle Patricia A

    2012-08-01

    Full Text Available Abstract Background The objective of this study was to test the hypothesis that cognitive function is negatively associated with temporal discounting in old age. Methods Participants were 388 community-dwelling older persons without dementia from the Rush Memory and Aging Project, an ongoing longitudinal epidemiologic study of aging in the Chicago metropolitan area. Temporal discounting was measured using standard questions in which participants were asked to choose between an immediate, smaller payment and a delayed, larger one. Cognition was measured using a detailed battery including 19 tests. The association between cognition and temporal discounting was examined via mixed models adjusted for age, sex, education, income, and the number of chronic medical conditions. Results Descriptive data revealed a consistent pattern whereby older persons with lower cognitive function were more likely to discount greater but delayed rewards compared to those with higher cognitive function. Further, in a mixed effect model adjusted for age, sex, education, income, and chronic medical conditions, global cognitive function was negatively associated with temporal discounting (estimate = −0.45, SE = 0.18, p = 0.015, such that a person with lower cognition exhibited greater discounting. Finally, in subsequent models examining domain specific associations, perceptual speed and visuospatial abilities were associated with temporal discounting, but episodic memory, semantic memory and working memory were not. Conclusion Among older persons without dementia, a lower level of cognitive function is associated with greater temporal discounting. These findings have implications regarding the ability of older persons to make decisions that involve delayed rewards but maximize well-being.

  8. Assessing Discount Rate for a Project Financed Entirely with Equity Capital

    Directory of Open Access Journals (Sweden)

    Nicoleta Vintila

    2007-09-01

    Full Text Available Estimating discount rate for an investment project is one of the most challenging tasks incapital budgeting. In this paper we discuss different kind of models for cost of equity capital proposed infinance literature (static CAPM, conditional CAPM, APT, build-up model, focusing especially on advantagesand disadvantages of using each of them. In the final section, we estimate the discount rate fora certain project financed entirely with equity capital, using a version of build-up model.

  9. Analisi Pengaruh Store Name, Brand Name, Dan Price Discounts Terhadap Purchase Intentions Konsumen Infinite Tunjungan Plaza

    OpenAIRE

    Gunawan, Andy

    2013-01-01

    Andy Gunawan:SkripsiAnalisis pengaruh store name, brand name dan price discounts terhadap purchase intention konsumen infnite tunjungan plaza Di era globalisasi ini, persaingan dagang antara Perusahaan – Perusahaan baik lokal maupun global menjadi semakin ketat, oleh karena itu Perusahaan selalu berusaha untuk meningkatkan ketertarikan minat beli konsumen. Beberapa variabel yang menjadi fokus Perusahaan adalah store name, brand name, dan price discount. Tujuan penelitian ini adalah untuk meng...

  10. The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors

    OpenAIRE

    John Y. Campbell; Robert J. Shiller

    1986-01-01

    A linearization of a rational expectations present value model for corporate stock prices produces a simple relation between the log dividend-price ratio and mathematical expectations of future log real dividend changes and future real discount rates. This relation can be tested using vector autoregressive methods. Three versions of the linearized model, differing in the measure of discount rates, are tested for U. S. time series 1871-1986: versions using real interest rate data, aggregate re...

  11. Optimal harvesting of fish stocks under a time-varying discount rate.

    Science.gov (United States)

    Duncan, Stephen; Hepburn, Cameron; Papachristodoulou, Antonis

    2011-01-21

    Optimal control theory has been extensively used to determine the optimal harvesting policy for renewable resources such as fish stocks. In such optimisations, it is common to maximise the discounted utility of harvesting over time, employing a constant time discount rate. However, evidence from human and animal behaviour suggests that we have evolved to employ discount rates which fall over time, often referred to as "hyperbolic discounting". This increases the weight on benefits in the distant future, which may appear to provide greater protection of resources for future generations, but also creates challenges of time-inconsistent plans. This paper examines harvesting plans when the discount rate declines over time. With a declining discount rate, the planner reduces stock levels in the early stages (when the discount rate is high) and intends to compensate by allowing the stock level to recover later (when the discount rate will be lower). Such a plan may be feasible and optimal, provided that the planner remains committed throughout. However, in practice there is a danger that such plans will be re-optimized and adjusted in the future. It is shown that repeatedly restarting the optimization can drive the stock level down to the point where the optimal policy is to harvest the stock to extinction. In short, a key contribution of this paper is to identify the surprising severity of the consequences flowing from incorporating a rather trivial, and widely prevalent, "non-rational" aspect of human behaviour into renewable resource management models. These ideas are related to the collapse of the Peruvian anchovy fishery in the 1970's. Copyright © 2010 Elsevier Ltd. All rights reserved.

  12. Escaping the repugnant conclusion: rank-discounted utilitarianism with variable population

    OpenAIRE

    Asheim, Geir Bjarne; Zuber, Stéphane

    2014-01-01

    We contribute to population ethics by proposing and axiomatizing rank-discounted critical-level generalized utilitarianism (RDCLU). Population ethics is needed for evaluation of policies, e.g., concerning climate change, where population size depends on the chosen policy. We show that critical-level generalized utilitarianism and (a version of) critical-level leximin are the limits of RDCLU for extreme values of the rank utility discount factor. Moreover, we establish how RDCLU avoids serious...

  13. Higher-moment stochastic discount factor specifications and the cross-section of asset returns

    OpenAIRE

    Wang, Dengli

    2013-01-01

    The stochastic discount factor model provides a general framework for pricing assets. A suitably specified discount factor encompasses most of the theories currently in use, including the CAPM, consumption CAPM, higher-moment CAPM and their conditional versions. In this thesis, we focus on the empirical admissibility of alternative SDFs under restrictions that ensure that investors’ risk-preferences are well behaved. More innovatively, we explore whether the SDF implied by the 3 and 4-mome...

  14. Comorbid depression, antisocial personality, and substance dependence: Relationship with delay discounting.

    Science.gov (United States)

    Moody, Lara; Franck, Christopher; Bickel, Warren K

    2016-03-01

    Within the field of addiction, as many as four-fifths of individuals in treatment for substance use disorder have co-existing lifetime psychopathology and as high as two-thirds have current psychopathology. Among substance-dependent individuals, excessive delay discounting is pervasive. Despite evidence of excessive discounting across substance use disorders, few studies have investigated the impact of co-occurring psychopathologies and SUD on delay discounting. We compared delay discounting in currently abstaining substance users with (a) SUD (n=166), (b) SUD and managed major depressive disorder (MDD; n=44), (c) SUD and antisocial personality disorder (APD; n=35), (d) SUD and managed MDD and APD (n=22) and (e) no SUD or co-occurring psychopathology (n=60). All groups with SUD discounted future delayed rewards significantly more than healthy controls (p<0.001 in each case, d=0.686, 0.835, 1.098 and 1.650, respective to groups a-d above). Individuals with both APD and SUD and individuals with MDD, APD, and SUD discounted future rewards significantly more than substance users without comorbid psychopathology (p=0.029, d=0.412 and p<0.001, d=0.964, respectively). Overall, individuals with multiple psychopathologies in addition to substance use have exacerbated deficits in discounting of the future, above and beyond that observed in substance use alone. Increased discounting in combined substance and psychopathology profiles suggest a greater chance of treatment failure and therefore may necessitate individualized treatment using adjunctive interventions to achieve better treatment outcomes. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

  15. Predictive Validity of Delay Discounting Behavior in Adolescence: A Longitudinal Twin Study

    Science.gov (United States)

    Isen, Joshua D.; Sparks, Jordan C.; Iacono, William G.

    2014-01-01

    A standard assumption in the delay discounting literature is that individuals who exhibit steeper discounting of hypothetical rewards also experience greater difficulty deferring gratification to real-world rewards. There is ample cross-sectional evidence that delay discounting paradigms reflect a variety of maladaptive psychosocial outcomes, including substance use pathology. We sought to determine whether a computerized assessment of hypothetical delay discounting (HDD) taps into behavioral impulsivity in a community sample of adolescent twins (N = 675). Using a longitudinal design, we hypothesized that greater HDD at age 14–15 predicts real-world impulsive choices and risk for substance use disorders in late adolescence. We also examined the genetic and environmental structure of HDD performance. Individual differences in HDD behavior showed moderate heritability, and were prospectively associated with real-world temporal discounting at age 17–18. Contrary to expectations, HDD was not consistently related to substance use or trait impulsivity. Although a significant association between HDD behavior and past substance use emerged in males, this effect was mediated by cognitive ability. In both sexes, HDD failed to predict a comprehensive index of substance use problems and behavioral disinhibition in late adolescence. In sum, we present some of the first evidence that HDD performance is heritable and predictive of real-world temporal discounting of rewards. Nevertheless, HDD might not serve as a valid marker of substance use disorder risk in younger adolescents, particularly females. PMID:24999868

  16. Individual differences in delay discounting under acute stress: the role of trait perceived stress

    Directory of Open Access Journals (Sweden)

    Karolina M. Lempert

    2012-07-01

    Full Text Available Delay discounting refers to the reduction of the value of a future reward as the delay to that reward increases. The rate at which individuals discount future rewards varies as a function of both individual and contextual differences, and high delay discounting rates have been linked with problematic behaviors, including drug abuse and gambling. The current study investigated the effects of acute anticipatory stress on delay discounting, while considering two important factors: individual perceptions of stress and whether the stressful situation is future-focused or present-focused. Half of the participants experienced acute stress by anticipating giving a videotaped speech. This stress was either future-oriented (speech about future job or present-oriented (speech about physical appearance. They then performed a delay discounting task, in which they chose between smaller, immediate rewards and larger, delayed rewards. Their scores on the Perceived Stress Scale were also collected. The way in which one appraises a stressful situation interacts with acute stress to influence choices; under stressful conditions, delay discounting rate was highest in individuals with low perceived stress and lowest for individuals with high perceived stress. This result might be related to individual variation in reward responsiveness under stress. Furthermore, the time orientation of the task interacted with its stressfulness to affect the individual’s propensity to choose immediate rewards. These findings add to our understanding of the intermediary factors between stress and decision making.

  17. Brain Activity in Valuation Regions while Thinking about the Future Predicts Individual Discount Rates

    Science.gov (United States)

    Cooper, Nicole; Kim, B. Kyu; Zauberman, Gal

    2013-01-01

    People vary widely in how much they discount delayed rewards, yet little is known about the sources of these differences. Here we demonstrate that neural activity in ventromedial prefrontal cortex (VMPFC) and ventral striatum (VS) when human subjects are asked to merely think about the future—specifically, to judge the subjective length of future time intervals—predicts delay discounting. High discounters showed lower activity for longer time delays, while low discounters showed the opposite pattern. Our results demonstrate that the correlation between VMPFC and VS activity and discounting occurs even in the absence of choices about future rewards, and does not depend on a person explicitly evaluating future outcomes or judging their self-relevance. This suggests a link between discounting and basic processes involved in thinking about the future, such as temporal perception. Our results also suggest that reducing impatience requires not suppression of VMPFC and VS activity altogether, but rather modulation of how these regions respond to the present versus the future. PMID:23926268

  18. Discount rates in risk versus money and money versus money tradeoffs.

    Science.gov (United States)

    Alberini, Anna; Chiabai, Aline

    2007-04-01

    We use data from a survey of residents of five Italian cities conducted in late spring 2004 to estimate the discount rates implicit in (1) money versus future risk reductions and (2) money versus money tradeoffs. We find that the mean personal discount rate is 0.3-1.7% in (1) and 8.7% in (2). The latter is lower than the discount rates estimated in comparable situations in many recent studies, greater than market interest rates in Italy at the time, and exhibits modest variation with age and gender. The discount rate implicit in money versus risk tradeoffs is within the range of estimates from studies in the United States and Europe, and does not depend on observable individual characteristics. We use split samples to investigate whether a completely abstract risk reduction - one where the risk reduction delivery has been stripped of all specifics, so that respondents should focus on the risks without being distracted by details - results in WTP and discount figures comparable to those from an identified delivery mechanism (a medical test). We find that while WTP for an immediate risk reduction is 42-73% higher with the abstract risk reduction, the discount rate in the money versus risk tradeoffs and the variance of the error term in the WTP equation are the same across the two variants of the questionnaire.

  19. Psychosocial Influences on Fruit and Vegetable Intake Following a NYC Supermarket Discount.

    Science.gov (United States)

    Bernales-Korins, Maria; Ang, Ian Yi Han; Khan, Shamima; Geliebter, Allan

    2017-08-01

    To assess the effect of a 50% discount on fruits and vegetables (F&V) on the purchase and intake of F&V and on psychosocial determinants of F&V intake: self-efficacy (SE), stages of change (SOC), and perceived barriers (PB). This randomized controlled trial was conducted in local supermarkets over 16 weeks, including a 4-week baseline, 8-week discount intervention, and 4-week follow-up. Shoppers with overweight or obesity (BMI > 25) were randomized to receive a discount or no discount via their reward scan card after the baseline. Twenty-four-hour recalls and psychosocial measures were obtained for each study period. Purchases (P supermarket discount intervention led to increases in purchases and intakes of F&V and increases in the psychosocial factors SE and SOC and did not decrease PB. The discount intervention prompted participants to move from the preparation to action stage of SOC, which acted as a mediator for increased F&V intake. © 2017 The Obesity Society.

  20. Intertemporal Decision Making After Brain Injury: Amount-Dependent Steeper Discounting after Frontal Cortex Damage

    Directory of Open Access Journals (Sweden)

    Białaszek Wojciech

    2017-12-01

    Full Text Available Traumatic brain injuries to the frontal lobes are associated with many maladaptive forms of behavior. We investigated the association between brain damage and impulsivity, as measured by the rate of delay discounting (i.e., the extent to which future outcomes are devalued in time. The main aim of this study was to test the hypothesis of steeper discounting of different amounts in a group of patients with frontal lobe damage. We used a delay discounting task in the form of a structured interview. A total of 117 participants were divided into five groups: three neurological groups and two groups without brain damage. Our analyses showed that patients with focal damage to the frontal lobes demonstrated steeper delay discounting than other participants. Other clinical groups demonstrated similar discounting rates. The data pattern related to the magnitude effect on the group level suggested that the magnitude effect is absent in the group of patients with damage to the frontal lobes; however, results were less consistent on an individual level. Amount-dependent discounting was observed in only two groups, the healthy control group and the neurological group with other cortical areas damaged.

  1. Solar Variability and Planetary Climates

    CERN Document Server

    Calisesi, Y; Gray, L; Langen, J; Lockwood, M

    2007-01-01

    Variations in solar activity, as revealed by variations in the number of sunspots, have been observed since ancient times. To what extent changes in the solar output may affect planetary climates, though, remains today more than ever a subject of controversy. In 2000, the SSSI volume on Solar Variability and Climate reviewed the to-date understanding of the physics of solar variability and of the associated climate response. The present volume on Solar Variability and Planetary Climates provides an overview of recent advances in this field, with particular focus at the Earth's middle and lower atmosphere. The book structure mirrors that of the ISSI workshop held in Bern in June 2005, the collection of invited workshop contributions and of complementary introductory papers synthesizing the current understanding in key research areas such as middle atmospheric processes, stratosphere-troposphere dynamical coupling, tropospheric aerosols chemistry, solar storm influences, solar variability physics, and terrestri...

  2. Skylab experiments. Volume 5: Astronomy and space physics. [Skylab observations of galactic radiation, solar energy, and interplanetary composition for high school level education

    Science.gov (United States)

    1973-01-01

    The astronomy and space physics investigations conducted in the Skylab program include over 20 experiments in four categories to explore space phenomena that cannot be observed from earth. The categories of space research are as follows: (1) phenomena within the solar system, such as the effect of solar energy on Earth's atmosphere, the composition of interplanetary space, the possibility of an inner planet, and the X-ray radiation from Jupiter, (2) analysis of energetic particles such as cosmic rays and neutrons in the near-earth space, (3) stellar and galactic astronomy, and (4) self-induced environment surrounding the Skylab spacecraft.

  3. Solar building

    OpenAIRE

    Zhang, Luxin

    2014-01-01

    In my thesis I describe the utilization of solar energy and solar energy with building integration. In introduction it is also mentioned how the solar building works, trying to make more people understand and accept the solar building. The thesis introduces different types of solar heat collectors. I compared the difference two operation modes of solar water heating system and created examples of solar water system selection. I also introduced other solar building applications. It is conv...

  4. Trends in the use and advertising of discount versus premium snuff.

    Science.gov (United States)

    Timberlake, David S; Pechmann, Cornelia

    2013-02-01

    The Conwood Company, a major producer of discount moist snuff, was awarded a $1 billion antitrust settlement in the year 2000 against its leading competitor, the U.S. Smokeless Tobacco Company. The objective of this study was to examine the trends in use and advertising of discount versus premium snuff since the Conwood settlement, a topic seldom addressed in the tobacco control literature. 2 sources of data were analyzed in 2011: (a) male snuff users from the 2002-2009 National Surveys on Drug Use and Health (N = 13,172) and (b) total advertisements of moist snuff identified from over 350 consumer magazines dated 2005-2009 (N = 861). For the survey data, demographic and tobacco-related measures were assessed as predictors of use of discount versus premium snuff in logistic regression models. For the advertising data, associations were examined between the snuff category and nicotine content, magazine youth readership, and year of magazine publication. The prevalence of discount and premium snuff use among males increased and decreased, respectively, from 2002 to 2009. Significant predictors of using discount versus premium snuff were being an adolescent, being an African-American, being a current or former smoker, living in a less populated region of the country, and using snuff frequently. Discount snuff advertising was associated with publication in magazines with a high youth readership. Discount snuff has grown in popularity among male adolescents who have been a target of advertising. The tobacco's cheap price and high nicotine content pose a public health problem because of the potential for long-term tobacco use and dependence.

  5. Unhealthy diets, obesity and time discounting: a systematic literature review and network analysis.

    Science.gov (United States)

    Barlow, Pepita; Reeves, Aaron; McKee, Martin; Galea, Gauden; Stuckler, David

    2016-09-01

    There is an increasing policy commitment to address the avoidable burdens of unhealthy diet, overweight and obesity. However, to design effective policies, it is important to understand why people make unhealthy dietary choices. Research from behavioural economics suggests a critical role for time discounting, which describes how people's value of a reward, such as better health, decreases with delay to its receipt. We systematically reviewed the literature on the relationship of time discounting with unhealthy diets, overweight and obesity in Web of Science and PubMed. We identified 41 studies that met our inclusion criteria as they examined the association between time discount rates and (i) unhealthy food consumption; (ii) overweight and (iii) response to dietary and weight loss interventions. Nineteen out of 25 cross-sectional studies found time discount rates positively associated with overweight, obesity and unhealthy diets. Experimental studies indicated that lower time discounting was associated with greater weight loss. Findings varied by how time discount rates were measured; stronger results were observed for food than monetary-based measurements. Network co-citation analysis revealed a concentration of research in nutrition journals. Overall, there is moderate evidence that high time discounting is a significant risk factor for unhealthy diets, overweight and obesity and may serve as an important target for intervention. © 2016 The Authors Obesity Reviews published by John Wiley & Sons Ltd on behalf of International Association for the Study of Obesity (IASO). © 2016 The Authors Obesity Reviews published by John Wiley & Sons Ltd on behalf of International Association for the Study of Obesity (IASO).

  6. An adaptive, individualized fMRI delay discounting procedure to increase flexibility and optimize scanner time.

    Science.gov (United States)

    Koffarnus, Mikhail N; Deshpande, Harshawardhan U; Lisinski, Jonathan M; Eklund, Anders; Bickel, Warren K; LaConte, Stephen M

    2017-11-01

    Research on the rate at which people discount the value of future rewards has become increasingly prevalent as discount rate has been shown to be associated with many unhealthy patterns of behavior such as drug abuse, gambling, and overeating. fMRI research points to a fronto-parietal-limbic pathway that is active during decisions between smaller amounts of money now and larger amounts available after a delay. Researchers in this area have used different variants of delay discounting tasks and reported various contrasts between choice trials of different types from these tasks. For instance, researchers have compared 1) choices of delayed monetary amounts to choices of the immediate monetary amounts, 2) 'hard' choices made near one's point of indifference to 'easy' choices that require little thought, and 3) trials where an immediate choice is available versus trials where one is unavailable, regardless of actual eventual choice. These differences in procedure and analysis make comparison of results across studies difficult. In the present experiment, we designed a delay discounting task with the intended capability of being able to construct contrasts of all three comparisons listed above while optimizing scanning time to reduce costs and avoid participant fatigue. This was accomplished with an algorithm that customized the choice trials presented to each participant with the goal of equalizing choice trials of each type. We compared this task, which we refer to here as the individualized discounting task (IDT), to two other delay discounting tasks previously reported in the literature (McClure et al., 2004; Amlung et al., 2014) in 18 participants. Results show that the IDT can examine each of the three contrasts mentioned above, while yielding a similar degree of activation as the reference tasks. This suggests that this new task could be used in delay discounting fMRI studies to allow researchers to more easily compare their results to a majority of previous

  7. Phase 1 of the First Small Power System Experiment (engineering Experiment No. 1). Volume 4: Commercial System Definition. [development and testing of a solar thermal power plant

    Science.gov (United States)

    Holl, R. J.

    1979-01-01

    The development and design of a modular solar thermal power system for application in the 1 to 10 MWe range is described. The system is used in remote utility applications, small communities, rural areas, and for industrial uses. The operational reliability, the minimum risk of failure, and the maintenance and repair characteristics are determined and the commercial system design is defined.

  8. Development of smart solar tanks

    DEFF Research Database (Denmark)

    Furbo, Simon; Andersen, Elsa

    1999-01-01

    The aim of the project is to develop smart solar tanks. A smart solar tank is a tank in which the domestic water can bee heated both by solar collectors and by an auxiliary energy supply system. The auxiliary energy supply system heats up the hot-water tank from the top and the water volume heated...... by the auxiliary energy supply system is fitted to the hot water consumption and consumption pattern. In periods with a large hot-water demand the volume is large, in periods with a small hot-water demand the volume is small. Based on measurements and calculations the advantage of smart SDHW systems is visualised....

  9. Solar energy

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    This chapter discusses the role solar energy may have in the energy future of the US. The topics discussed in the chapter include the solar resource, solar architecture including passive solar design and solar collectors, solar-thermal concentrating systems including parabolic troughs and dishes and central receivers, photovoltaic cells including photovoltaic systems for home use, and environmental, health and safety issues

  10. Using crowdsourcing to compare temporal, social temporal, and probability discounting among obese and non-obese individuals.

    Science.gov (United States)

    Bickel, Warren K; George Wilson, A; Franck, Christopher T; Terry Mueller, E; Jarmolowicz, David P; Koffarnus, Mikhail N; Fede, Samantha J

    2014-04-01

    Previous research comparing obese and non-obese samples on the delayed discounting procedure has produced mixed results. The aim of the current study was to clarify these discrepant findings by comparing a variety of temporal discounting measures in a large sample of internet users (n=1163) obtained from a crowdsourcing service, Amazon Mechanical Turk (AMT). Measures of temporal, social-temporal (a combination of standard and social temporal), and probability discounting were obtained. Significant differences were obtained on all discounting measures except probability discounting, but the obtained effect sizes were small. These data suggest that larger-N studies will be more likely to detect differences between obese and non-obese samples, and may afford the opportunity, in future studies, to decompose a large obese sample into different subgroups to examine the effect of other relevant measures, such as the reinforcing value of food, on discounting. Copyright © 2013 Elsevier Ltd. All rights reserved.

  11. Discounting of Condom-Protected Sex as a Measure of High Risk for Sexually Transmitted Infection Among College Students.

    Science.gov (United States)

    Collado, Anahí; Johnson, Patrick S; Loya, Jennifer M; Johnson, Matthew W; Yi, Richard

    2017-10-01

    The study examined sexual delay discounting, or the devaluation of condom-protected sex in the face of delay, as a risk factor for sexually transmitted infection (STI) among college students. Participants (143 females, 117 males) completed the sexual delay discounting task (Johnson & Bruner, 2012) and questionnaires of risky sexual behavior, risk perception, and knowledge. Participants exhibited steeper sexual delay discounting (above and beyond general likelihood of having unprotected sex) when partners were viewed as more desirable or less likely to have a STI, with males demonstrating greater sexual delay discounting than females across most conditions. Importantly, greater self-reported risky sexual behaviors were associated with higher rates of sexual delay discounting, but not with likelihood of using a condom in the absence of delay. These results provide support for considering sexual delay discounting, with particular emphasis on potential delays to condom use, as a risk factor for STI among college students.

  12. EVALUATION OF OPPORTUNITIES OF SOLAR ENERGETICS ON THE BASIS OF ACCURATE GROUND-BASED MEASUREMENTS OF SOLAR RADIATION

    Directory of Open Access Journals (Sweden)

    Aculinin A.

    2008-04-01

    Full Text Available Expected quantity of a solar energy received by solar panel is estimated on the basis of accurate measurements of solar radiation in Kishinev. Optimal orientation of solar panels and apparent volume of the electric power generated by solar panels are determined.

  13. Effects of blood glucose on delay discounting, food intake and counterregulation in lean and obese men.

    Science.gov (United States)

    Klement, Johanna; Kubera, Britta; Eggeling, Jonas; Rädel, Christin; Wagner, Christin; Park, Soyoung Q; Peters, Achim

    2018-03-01

    Delay discounting as a measure of impulsivity has been shown to be higher in obesity with an association of increased food intake. Moreover, obese humans showed a higher wanting for high-calorie food than lean men when blood glucose concentrations were low. First studies linking blood glucose levels to delay discounting yielded mixed results. We hypothesized that obese people - in comparison to lean men - have a relative lack of energy, especially when blood glucose levels are low, that results in higher levels of delay discounting, food intake and hormonal counterregulation. We investigated 20 lean and 20 obese healthy young men in a single-blind balanced cross-over design. With a standardized glucose clamp technique, subjects underwent a hypoglycemic state in one condition and a euglycemic state in the control condition. Regularly, blood was sampled for assessment of hormonal status, and questionnaires were filled out to assess delay discounting and symptom awareness. After normalizing blood glucose concentrations, subjects were free to eat from a standardized test buffet, followed by a snack test. Delay discounting was higher in obese than in lean men throughout experiments (p  0.1). Furthermore, the discounting performance did not correlate with food intake from the test buffet or snack test (p > 0.3). As a response to hypoglycemia, hormonal counterregulation was pronounced in both weight groups (p  0.5). Our data suggest that augmented delay discounting is a robust feature in obesity that is not linked to glucose levels or actual food intake. With our systematically controlled approach, combining performance in delay discounting with regard to distinct blood glucose levels, different weight groups, counterregulatory behavior and food intake, our results imply that delay discounting is not susceptible to fluctuations of blood glucose and do not support the assumption that a low body's energy content leads to increased impulsivity. Further

  14. A dual-process approach to exploring the role of delay discounting in obesity.

    Science.gov (United States)

    Price, Menna; Higgs, Suzanne; Maw, James; Lee, Michelle

    2016-08-01

    Delay discounting of financial rewards has been related to overeating and obesity. Neuropsychological evidence supports a dual-system account of both discounting and overeating behaviour where the degree of impulsive decision making is determined by the relative strength of reward desire and executive control. A dual-parameter model of discounting behaviour is consistent with this theory. In this study, the fit of the commonly used one-parameter model was compared to a new dual-parameter model for the first time in a sample of adults with wide ranging BMI. Delay discounting data from 79 males and females (males=26) across a wide age (M=28.44years (SD=8.81)) and BMI range (M=25.42 (SD=5.16)) was analysed. A dual-parameter model (saturating-hyperbolic; Doya, [Doya (2008) ]) was applied to the data and compared on model fit indices to the single-parameter model. Discounting was significantly greater in the overweight/obese participants using both models, however, the two parameter model showed a superior fit to data (pdual-system account of inter-temporal choice behaviour. The dual-parameter model showed superior fit to data and the two parameters were shown to be related yet distinct indices sensitive to differences between weight groups. Findings are discussed in terms of the impulsive reward and executive control systems that contribute to unhealthy food choice and within the context of obesity related research. Copyright © 2016 Elsevier Inc. All rights reserved.

  15. A behavioral economic analysis of texting while driving: Delay discounting processes.

    Science.gov (United States)

    Hayashi, Yusuke; Miller, Kimberly; Foreman, Anne M; Wirth, Oliver

    2016-12-01

    The purpose of the present study was to examine an impulsive decision-making process underlying texting while driving from a behavioral economic perspective. A sample of 108 college students completed a novel discounting task that presented participants with a hypothetical scenario in which, after receiving a text message while driving, they rated the likelihood of replying to a text message immediately versus waiting to reply for a specific period of time. Participants also completed a delay discounting task in which they made repeated hypothetical choices between obtaining a larger amount of money available after a delay and an equal or lesser amount of money available immediately. The results show that the duration of the delay is a critical variable that strongly determines whether participants choose to wait to reply to a text message, and that the decrease in the likelihood of waiting as a function of delay is best described by a hyperbolic delay discounting function. The results also show that participants who self-reported higher frequency of texting while driving discounted the opportunity to reply to a text message at greater rates, whereas there was no relation between the rates of discounting of hypothetical monetary rewards and the frequency of texting while driving. The results support the conclusion that texting while driving is fundamentally an impulsive choice. Copyright © 2016 Elsevier Ltd. All rights reserved.

  16. Exploratory study on the effect of discount pricing strategies for new product introduction

    Science.gov (United States)

    Mat Zaib, Nurul Afiqah; Bazin, Nor Erne Nazira; Mustaffa, Noorfa Haszlinna

    2013-04-01

    Rapid introduction of new product into the market has resulted in growing competition between retailers. Nowadays, retailers compete with one another in order to increase revenue and to maintain their position in the marketplace. This situation has forced the retailers to enhance their strategic management as well as creating competitive advantages. Generally, this situation can be observed in highly demanded product such as fashion goods and high technology electronic devices (smart phone, notebook). The consequence from the intense competition and new product introduction is difficulties in retailers pricing management. Retailers are now facing with complexity in making decisions on suitable pricing strategies and discount level for new product in association with the product life cycle. Thus, this research aims to investigate the suitable discount pricing strategies that can be integrated in every phase of product life cycle. This paper presents relationships between the discount pricing and the stages in the product life cycle in the form of conceptual diagram and mathematical expression. A system dynamic approach is used for developing the conceptual diagram and formulating the mathematical expression for the discount pricing strategies to visualize the relationship between discount pricing and product life cycle.

  17. Economic rate of discount and estimating cost benefit of viral immunisation programmes.

    Science.gov (United States)

    West, R R

    1999-01-01

    Many individual and societal decisions over purchase (or investment) involve consideration of timing, in that either the price may be paid now and the benefit enjoyed some time in the future or the converse the benefit enjoyed now and the price paid later. Since most individuals generally prefer the present to the future, economic theory has conventionally discounted future costs or benefits to estimate 'net present values'. The rationale for this is principally based on future uncertainty. In recent years, economists have turned their attention to valuing health as an economic 'good'. Observations of individual behaviour would imply that individuals discount future health, as other potential benefits, mostly because there is some uncertainty about their futures. Although economic theory is strongly predicated on the 'sovereignty of the individual', it does not necessarily follow that society discounts the future as do individuals, since for society the future is not so uncertain. Society's endorsement of many public health and preventive medicine objectives, which seek health gains in the future (rather than the present), imply that society's rate of discount may be appreciably lower than that of individuals. In immunisation, arguably one of the most effective of preventive measures, there is the additional benefit to others attributable to herd immunity. This paper argues that the future health gains for society arising from immunisation should not be underestimated by application of inappropriate discounting.

  18. Using 340B drug discounts to provide a financially sustainable medication discharge service.

    Science.gov (United States)

    Wu, Timothy; Williams, Carla; Vranek, Kathryn; Mattingly, T Joseph

    2018-03-27

    The 340B Drug Pricing Program was intended to stretch federal resources by providing significant discounts to covered entities providing care to underserved populations. Program implementation and evidence of expanding services to higher income patients has brought more scrutiny and calls for elimination of the program. While additional review and reform may be warranted, profitability from 340B discounts enables covered entities to provide additional services that may not be feasible in absence of the program. This case report demonstrates one institution's use of 340B discounts to financially justify providing bedside medication delivery services for patients at the time of discharge from an inpatient admission. A simple financial model was developed using hospital data and inputs from available literature to estimate gross profit and earnings before interest, taxes, depreciation, and amortization (EBITDA) with and without 340B discounts. Without the 340B drug price discounts, the service would operate at a financial loss, and further investigation must be done to determine whether other clinical or economic benefits would warrant discharge medication delivery at the institution. Copyright © 2018 The Authors. Published by Elsevier Inc. All rights reserved.

  19. Cross-cultural comparisons of delay discounting of gain and loss.

    Science.gov (United States)

    Ishii, Keiko; Gang, Lili; Takahashi, Taiki

    2016-11-01

    People generally tend to discount future outcomes in favor of smaller but immediate gains (i.e., delay discounting). The present research examined cultural similarities and differences in delay discounting of gain and loss between Chinese and Japanese, based on a q-exponential model of intertemporal choice. Using a hypothetical situation, we asked 65 Japanese participants and 51 Chinese participants to choose between receiving (or paying) a different amount of money immediately or with a specified delay (1 week, 2 weeks, 1 month, 6 months, 1 year, 5 years, and 25 years). For each delay, participants completed a series of 40 binary choices for gain or loss. Regardless of cultures, the q-exponential model was the optimal model. Both impulsivity and time-inconsistency were higher for future gains than for future losses. In addition to the cultural similarities, Chinese participants discounted future gains and losses more steeply than did Japanese. In contrast, Japanese participants were more time-inconsistent in delay discounting than were Chinese, suggesting that the reduction in their subjective value depended relatively on delay.

  20. An alternative approach to calculating Area-Under-the-Curve (AUC) in delay discounting research.

    Science.gov (United States)

    Borges, Allison M; Kuang, Jinyi; Milhorn, Hannah; Yi, Richard

    2016-09-01

    Applied to delay discounting data, Area-Under-the-Curve (AUC) provides an atheoretical index of the rate of delay discounting. The conventional method of calculating AUC, by summing the areas of the trapezoids formed by successive delay-indifference point pairings, does not account for the fact that most delay discounting tasks scale delay pseudoexponentially, that is, time intervals between delays typically get larger as delays get longer. This results in a disproportionate contribution of indifference points at long delays to the total AUC, with minimal contribution from indifference points at short delays. We propose two modifications that correct for this imbalance via a base-10 logarithmic transformation and an ordinal scaling transformation of delays. These newly proposed indices of discounting, AUClog d and AUCor d, address the limitation of AUC while preserving a primary strength (remaining atheoretical). Re-examination of previously published data provides empirical support for both AUClog d and AUCor d . Thus, we believe theoretical and empirical arguments favor these methods as the preferred atheoretical indices of delay discounting. © 2016 Society for the Experimental Analysis of Behavior.

  1. Reliability of the Discounting Inventory: An extension into substance-use population

    Directory of Open Access Journals (Sweden)

    Malesza Marta

    2017-06-01

    Full Text Available Recent research introduced the Discounting Inventory that allows the measurement of individual differences in the delay, probabilistic, effort, and social discounting rates. The goal of this investigation was to determine several aspects of the reliability of the Discounting Inventory using the responses of 385 participants (200 non-smokers and 185 current-smokers. Two types of reliability are of interest. Internal consistency and test-retest stability. A secondary aim was to extend such reliability measures beyond the non-clinical participant. The current study aimed to measure the reliability of the DI in a nicotine-dependent individuals and non-nicotine-dependent individuals. It is concluded that the internal consistency of the DI is excellent, and that the test-retest reliability results suggest that items intended to measure three types of discounting were likely testing trait, rather than state, factors, regardless of whether “non-smokers” were included in, or excluded from, the analyses (probabilistic discounting scale scores being the exception. With these cautions in mind, however, the psychometric properties of the DI appear to be very good.

  2. Fabrikasi Dye Sensitized Solar Cell (DSSC) Berdasarkan Fraksi Volume TiO2 Anatase-Rutile Dengan Garcinia Mangostana Dan Rhoeo Spathacea Sebagai Dye Fotosensitizer

    OpenAIRE

    Agustini, Sustia

    2013-01-01

    Sejak pertama kali dikembangkan, USAha untuk meningkatkan efisiensi Dye Sensitized Solar Cell (DSSC) terus dilakukan. Mulai dari pemilihan bahan pewarna, jenis semikonduktor yang digunakan, desain counter elektroda, struktur sandwich atau yang lainnya. Anatase dan rutile adalah fase dari TiO2 yang sering digunakan untuk fabrikasi DSSC. Penelitian ini menggunakan kulit manggis dan Rhoeo spathacea yang diekstrak menggunakan ethanol sebagai pewarna alami yang mengandung antosianin. Pewarna terse...

  3. Fabrikasi Dye Sensitized Solar Cell (DSSC) Berdasarkan Fraksi Volume TiO2 Anatase-Rutile dengan Garcinia mangostana dan Rhoeo Spathacea sebagai Dye Fotosensitizer

    OpenAIRE

    Sustia Agustini

    2013-01-01

    Sejak pertama kali dikembangkan, usaha untuk meningkatkan efisiensi Dye Sensitized Solar Cell (DSSC) terus dilakukan. Mulai dari pemilihan bahan pewarna, jenis semikonduktor yang digunakan, desain counter elektroda, struktur sandwich atau yang lainnya. Anatase dan rutile adalah fase dari TiO2 yang sering digunakan untuk fabrikasi DSSC. Penelitian ini menggunakan kulit manggis dan Rhoeo spathacea yang diekstrak menggunakan ethanol sebagai pewarna alami yang mengandung antosianin. Pewarna terse...

  4. Longitudinal Associations Among Religiousness, Delay Discounting, and Substance Use Initiation in Early Adolescence.

    Science.gov (United States)

    Kim-Spoon, Jungmeen; McCullough, Michael E; Bickel, W K; Farley, Julee P; Longo, Gregory S

    2015-03-01

    Prior research indicates that religiousness is related negatively to adolescent health risk behaviors, yet how such protective effects operate is not well understood. This study examined the longitudinal associations among organizational and personal religiousness, delay discounting, and substance use initiation (alcohol, cigarette, and marijuana use). The sample comprised 106 early adolescents (10-13 years of age, 52% female) who were not using substances at Time 1. Path analyses suggested that high levels of personal religiousness at Time 1 were related to low levels of substance use at Time 2 (2.4 years later), mediated by low levels of delay discounting. Delay discounting appears to be an important contributor to the protective effect of religiousness on the development of substance use among adolescents.

  5. A discount ordering strategy in two-level supply chain: A case study of textile industry

    Directory of Open Access Journals (Sweden)

    Laleh Tashakori

    2012-10-01

    Full Text Available Supplier selection, inventory management and optimal lot sizing has been one of the most important issues in many industries especially in production planning issues associated with texture industry. The proposed model of this paper first introduces an algorithm to choose the best supplier and it determines the optimal lot size using discount strategy. The proposed model of this paper considers different influencing factors such as location, quality of materials, cost, and mutual trust for supplier selection, determines their relative importance weights and then a discounting method is used to determine the ordering lot-size. The preliminary results indicate that the proposed model of this paper can be implemented in texture industry, very efficiently since the ordering discount policy is not sensitive to changes on inventory holding and setup expenditures.

  6. Buyer-vendor coordination for fixed lifetime product with quantity discount under finite production rate

    Science.gov (United States)

    Zhang, Qinghong; Luo, Jianwen; Duan, Yongrui

    2016-03-01

    Buyer-vendor coordination has been widely addressed; however, the fixed lifetime of the product is seldom considered. In this paper, we study the coordination of an integrated production-inventory system with quantity discount for a fixed lifetime product under finite production rate and deterministic demand. We first derive the buyer's ordering policy and the vendor's production batch size in decentralised and centralised systems. We then compare the two systems and show the non-coordination of the ordering policies and the production batch sizes. To improve the supply chain efficiency, we propose quantity discount contract and prove that the contract can coordinate the buyer-vendor supply chain. Finally, we present analytically tractable solutions and give a numerical example to illustrate the benefits of the proposed quantity discount strategy.

  7. Introducing Upfront Money Can Decrease Discounting in Intertemporal Choices with Losses.

    Science.gov (United States)

    Jiang, Cheng-Ming; Sun, Hong-Yue; Zheng, Sheng-Hua; Wang, Liang-Jun; Qin, Yu

    2016-01-01

    People generally tend to advance gains and postpone losses in intertemporal choice. Jiang et al. (2014) recently showed that adding upfront losses or gains to both smaller and sooner (SS) and larger and later (LL) rewards can decrease people's discounting. To account for this decrease, they proposed the salience hypothesis, which states that introducing upfront losses or gains makes the money dimension more salient than not, thus increasing people's preference for LL rewards. Considering that decreasing the discounting of delayed losses is imperative and that most previous studies have focused on intertemporal choices with gains, in the current paper we conducted two experiments and used hypothetical money outcomes to examine whether the effect of upfront money could be extended to intertemporal choices with losses. The results showed that when both SS and LL intertemporal losses were combined with an upfront loss or gain, people's discounting rate decreased and the preference for the SS option increased. This finding further supports the salience account.

  8. Tobacco demand, delay discounting, and smoking topography among smokers with and without psychopathology.

    Science.gov (United States)

    Farris, Samantha G; Aston, Elizabeth R; Abrantes, Ana M; Zvolensky, Michael J

    2017-10-01

    Tobacco demand (i.e., relative value attributed to a given reinforcer) and delay discounting (i.e., relative preference for smaller immediate rewards over larger delayed rewards) are two behavioral economic processes that are linked to the progression of problematic substance use. These processes have not been studied among those with psychopathology, a vulnerable group of smokers. The current study examined differences in tobacco demand and delay discounting, and their association with smoking topography among smokers with (n=43) and without (n=64) past-year psychopathology. Adult daily smokers (n=107,M age =43.5; SD=9.7) participated in a study on "smoking behavior." Past-year psychological disorders were assessed via a clinician-administered diagnostic assessment. All subjects participated in an ad libitum smoking trial and then completed an assessment of delay discounting (Monetary Choice Questionnaire) and tobacco demand (Cigarette Purchase Task) approximately 45-60min post-smoking. Smokers with psychopathology, compared to those without, had significantly higher demand intensity and maximum expenditure on tobacco (O max ), but did not differ on other demand indices or delay discounting. Smokers with psychopathology had shorter average inter-puff intervals and shorter time to cigarette completion than smokers without psychopathology. Tobacco demand and delay discounting measures were significantly intercorrelated among smokers with psychopathology, but not those without. Both behavioral economic measures were associated with specific aspects of smoking topography in smokers with psychopathology. The association between tobacco demand and delay discounting is evident among smokers with psychopathology and both measures were most consistently related to smoking behavior. Copyright © 2017 Elsevier B.V. All rights reserved.

  9. Focus on the future: Episodic future thinking reduces discount rate and snacking.

    Science.gov (United States)

    Dassen, Fania C M; Jansen, Anita; Nederkoorn, Chantal; Houben, Katrijn

    2016-01-01

    Obesity seems related to a preference for immediate gratification. By changing this focus on short term benefits to a more future-oriented outlook, delay discounting (impulsive decision making) can be changed by a manipulation of episodic future thinking (EFT). EFT comprises a vivid mental simulation of general future experiences. EFT may also affect consumption of unhealthy foods, which can be seen as a choice for immediate gratification. Recent research shows that future orientation should be tailored to the behavior at outcome. We therefore hypothesize that the effectiveness of EFT on food intake could be enhanced by making the content food-related. We conducted a 2 (future vs past thinking) by 2 (food vs non-food related thoughts) between-subject design experiment in female undergraduates (N = 94), to compare the efficacy of EFT versus the recalling of episodic past events in reducing discount rate and caloric intake. Content of imagery was either unrestricted or food-related. Participants engaged in EFT or control episodic imagery while snacks were offered to freely consume, and next the Monetary Choice Questionnaire was completed as a measure of delay discounting, while again being engaged in EFT or control imagery. Both types of EFT reduced delay discounting, however, only food-related EFT lead to more restricted caloric consumption. Thus, we found evidence that EFT reduced discount rate during decision making. However, in order to restrict caloric intake, EFT should entail food-related imagery. As discount rate and caloric intake were not related in the current sample, the underlying mechanism remains to be discovered. Results however suggest that EFT is a promising technique to resist immediate gratification. Copyright © 2015 Elsevier Ltd. All rights reserved.

  10. Delay Discounting as an Index of Sustainable Behavior: Devaluation of Future Air Quality and Implications for Public Health.

    Science.gov (United States)

    Berry, Meredith S; Nickerson, Norma P; Odum, Amy L

    2017-09-01

    Poor air quality and resulting annual deaths represent significant public health concerns. Recently, rapid delay discounting (the devaluation of future outcomes) of air quality has been considered a potential barrier for engaging in long term, sustainable behaviors that might help to reduce emissions (e.g., reducing private car use, societal support for clean air initiatives). Delay discounting has been shown to be predictive of real world behavior outside of laboratory settings, and therefore may offer an important framework beyond traditional variables thought to measure sustainable behavior such as importance of an environmental issue, or environmental attitudes/values, although more research is needed in this area. We examined relations between discounting of air quality, respiratory health, and monetary gains and losses. We also examined, relations between discounting and self-reported importance of air quality and respiratory health, and nature relatedness. Results showed rapid delay discounting of all outcomes across the time frames assessed, and significant positive correlations between delay discounting of air quality, respiratory health, and monetary outcomes. Steeper discounting of monetary outcomes relative to air quality and respiratory health outcomes was observed in the context of gains; however, no differences in discounting were observed across losses of monetary, air quality, and respiratory health. Replicating the sign effect, monetary outcomes were discounted more steeply than monetary losses. Importance of air quality, respiratory health and nature relatedness were significantly and positively correlated with one another, but not with degree of delay discounting of any outcome, demonstrating the need for more comprehensive measures that predict pro-environmental behaviors that might benefit individuals and public health over time. These results add to our understanding of decision-making, and demonstrate alarming rates of delay discounting of

  11. The selection problem for discounted Hamilton–Jacobi equations: some non-convex cases

    KAUST Repository

    Gomes, Diogo A.; Mitake, Hiroyoshi; Tran, Hung V.

    2018-01-01

    Here, we study the selection problem for the vanishing discount approximation of non-convex, first-order Hamilton–Jacobi equations. While the selection problem is well understood for convex Hamiltonians, the selection problem for non-convex Hamiltonians has thus far not been studied. We begin our study by examining a generalized discounted Hamilton–Jacobi equation. Next, using an exponential transformation, we apply our methods to strictly quasi-convex and to some non-convex Hamilton–Jacobi equations. Finally, we examine a non-convex Hamiltonian with flat parts to which our results do not directly apply. In this case, we establish the convergence by a direct approach.

  12. Insulin, Central Dopamine D2 Receptors, and Monetary Reward Discounting in Obesity.

    Directory of Open Access Journals (Sweden)

    Sarah A Eisenstein

    Full Text Available Animal research finds that insulin regulates dopamine signaling and reward behavior, but similar research in humans is lacking. We investigated whether individual differences in body mass index, percent body fat, pancreatic β-cell function, and dopamine D2 receptor binding were related to reward discounting in obese and non-obese adult men and women. Obese (n = 27; body mass index>30 and non-obese (n = 20; body mass index<30 adults were assessed for percent body fat with dual-energy X-ray absorptiometry and for β-cell function using disposition index. Choice of larger, but delayed or less certain, monetary rewards relative to immediate, certain smaller monetary rewards was measured using delayed and probabilistic reward discounting tasks. Positron emission tomography using a non-displaceable D2-specific radioligand, [11C](N-methylbenperidol quantified striatal D2 receptor binding. Groups differed in body mass index, percent body fat, and disposition index, but not in striatal D2 receptor specific binding or reward discounting. Higher percent body fat in non-obese women related to preference for a smaller, certain reward over a larger, less likely one (greater probabilistic discounting. Lower β-cell function in the total sample and lower insulin sensitivity in obese related to stronger preference for an immediate and smaller monetary reward over delayed receipt of a larger one (greater delay discounting. In obese adults, higher striatal D2 receptor binding related to greater delay discounting. Interestingly, striatal D2 receptor binding was not significantly related to body mass index, percent body fat, or β-cell function in either group. Our findings indicate that individual differences in percent body fat, β-cell function, and striatal D2 receptor binding may each contribute to altered reward discounting behavior in non-obese and obese individuals. These results raise interesting questions about whether and how striatal D2 receptor binding

  13. The selection problem for discounted Hamilton–Jacobi equations: some non-convex cases

    KAUST Repository

    Gomes, Diogo A.

    2018-01-26

    Here, we study the selection problem for the vanishing discount approximation of non-convex, first-order Hamilton–Jacobi equations. While the selection problem is well understood for convex Hamiltonians, the selection problem for non-convex Hamiltonians has thus far not been studied. We begin our study by examining a generalized discounted Hamilton–Jacobi equation. Next, using an exponential transformation, we apply our methods to strictly quasi-convex and to some non-convex Hamilton–Jacobi equations. Finally, we examine a non-convex Hamiltonian with flat parts to which our results do not directly apply. In this case, we establish the convergence by a direct approach.

  14. German Grocery Discounters: Dynamics and Regional Impact. the Case of Schleswig-Holstein (Germany

    Directory of Open Access Journals (Sweden)

    Jürgens Ulrich

    2014-12-01

    Full Text Available Grocery discount stores have long dominated developments in the German food retail sector, and they continue to grow. This paper discusses the reasons for this long-term success based on internal decision-making parameters such as price, adjustment of product range, choice of location, and size of new stores. The result is significant customer acceptance, but also adverse developments viewed critically in various governance constellations. The paper is based on expert interviews and a comprehensive collection of data on grocery discount stores and supermarkets in the German federal state of Schleswig-Holstein

  15. Discount rates and the education gradient in mammography in the UK.

    Science.gov (United States)

    Bíró, Anikó

    2013-09-01

    I analyse intertemporal decisions on undertaking breast cancer screening by women aged 50-64  years in the UK and provide estimates of the rate of discounting potential future benefits of screening. I also analyse education differences in mammography decisions and examine the underlying mechanisms by which education influences breast cancer screening attendance. I estimate a structural model, which reveals that although there are differences in the disutility of breast cancer screening between education groups, there is no difference in the estimated discount factor. These results suggest that the observed education gradient is mainly due to differences in health behaviours and healthcare attitudes. Copyright © 2013 John Wiley & Sons, Ltd.

  16. Valuation of micro and small enterprises using the methodology multicriteria and method of discounted cash flow

    Directory of Open Access Journals (Sweden)

    Marcus Vinicius Andrade de Lima

    2010-01-01

    Full Text Available This paper presents a contribution to the method of discounted cash flow methodology using multicriteria decision aid. This methodology incorporates qualitative variables and subjective to the traditional method of discounted cash flows used in valuation companies. To illustrate the proposed method was a descriptive study of exploratory nature applied to a multicase. The intervention was in Micro and Small Enterprises (MSE from the chemical, pharmaceutical and tourism. As a result, the appraiser set the price of the business taking into account the result of mixing between the two methodologies.

  17. Design and assessment of solar PV plant for girls hostel (GARGI of MNIT University, Jaipur city: A case study

    Directory of Open Access Journals (Sweden)

    Rahul Khatri

    2016-11-01

    Full Text Available In this paper designing and assessment of a solar PV plant for meeting the energy demand of girl’s hostel at MNIT University Jaipur city was analyzed. A solar PV plant was designed with its financial and environmental assessment considering recent market prices. All the aspects related to a solar PV plant were considered for financial feasibility of PV plant near this location. The different financial parameters which affect the financial feasibility of PV plant were considered i.e. discount rate, effective discount rate, rate of escalation of electricity cost, salvage value of the plant etc. The environmental aspect related with the energy generated with PV plant i.e. reduction in carbon emission and carbon credits earned was also considered. Result obtained with the assessment of the proposed plant with different discount rate and current rate of inflation shows that the max IRR 6.85% and NPV of $1,430,834 was obtained with a discount rate of 8% and an inflation rate of 7.23% when no land cost considered and if land cost was considered the maximum IRR was 1.96% and NPV of $630,833. Minimum discounted payback of the plant will be 13.4 years if inflation was considered.

  18. Solar Proton Events in Six Solar Cycles

    Science.gov (United States)

    Vitaly, Ishkov

    Based on materials the catalogs of solar proton events (SPE) in 1955 ‒ 2010 and list SPE for the current 24 solar cycle (SC) are examined confirmed SPE with E> 10 MeV proton flux in excess of 1 proton cm-2 s ster-1 (pfu) from Švestka and Simon’s (1955 - 1969) and 5 volumes Logachev’s (1970 - 2006) Catalogs of SPE. Historically thus it was formed, that the measurements of the proton fluxes began in the epoch “increased” solar activity (SC 18 ‒ 22), and includes transition period of the solar magnetic fields reconstruction from epoch “increased” to the epoch “lowered” solar activity (22 ‒ 23 SC). In current 24 SC ‒ first SC of the incipient epoch of “lowered” SA ‒ SPE realize under the new conditions, to that of previously not observed. As showed a study of five solar cycles with the reliable measurements of E> 10 MeV proton flux in excess of 1 pfu (1964 - 2013): ‒ a quantity of SPEs remained approximately identical in SC 20, 21, somewhat decreased in the initial solar cycle of the solar magnetic fields reconstruction period (22), but it returned to the same quantity in, the base for the period of reconstruction, SC 23. ‒ Into the first 5 years of the each solar cycle development the rate of the proton generation events noticeably increased in 22 cycles of solar activity and returned to the average in cycles 23 and 24. ‒ Extreme solar flare events are achieved, as a rule, in the solar magnetic fields reconstruction period (August - September 1859; June 1991; October ‒ November 2003.), it is confirmed also for SPE: the extreme fluxes of solar protons (S4) except one (August 1972) were occurred in period of perestroika (SC 22 and 23). This can speak, that inside the epochs SA, when the generation of magnetic field in the convective zone works in the steady-state regime, extreme SPE are improbable. ‒ The largest in the fluxes of protons (S3, S4) occur in the complexes of the active regions flare events, where magnetic field more

  19. Effect of impurities and processing on silicon solar cells. Volume 1: Characterization methods for impurities in silicon and impurity effects data base

    Science.gov (United States)

    Hopkins, R. H.; Davis, J. R.; Rohatgi, A.; Campbell, R. B.; Blais, P. D.; Rai-Choudhury, P.; Stapleton, R. E.; Mollenkopf, H. C.; Mccormick, J. R.

    1980-01-01

    Two major topics are treated: methods to measure and evaluate impurity effects in silicon and comprehensive tabulations of data derived during the study. Discussions of deep level spectroscopy, detailed dark I-V measurements, recombination lifetime determination, scanned laser photo-response, conventional solar cell I-V techniques, and descriptions of silicon chemical analysis are presented and discussed. The tabulated data include lists of impurity segregation coefficients, ingot impurity analyses and estimated concentrations, typical deep level impurity spectra, photoconductive and open circuit decay lifetimes for individual metal-doped ingots, and a complete tabulation of the cell I-V characteristics of nearly 200 ingots.

  20. Extent of Drug Coverage across Generic Drug Discount Programs offered by Community Pharmacies: A look at five Chronic Conditions

    Directory of Open Access Journals (Sweden)

    Harshali K. Patel, MS

    2012-01-01

    Full Text Available Background: Chronic conditions are expensive to treat because of the ongoing prescription cost burden. Generic drug discount programs (GDDPs that offer generics at discounted price may prove beneficial to reduce pharmacy costs for the same.Objective: The objective of this study was to assess the extent to which GDDPs provide drug coverage for five common chronic conditions.Methods: A content analyses of preexisting information was conducted. Extent of coverage based on top 200 generic drugs prescribed during 2008 for the treatment of chronic conditions such as hypertension, mental disorders, arthritis, pulmonary/respiratory conditions, and diabetes were identified. Commonly prescribed medications for these diseases were identified using published peer reviewed clinical guidelines. List of drugs covered under a GDDP for stores, Wal-Mart, Walgreens, CVS, Kroger, HEB, Target, and Randalls were obtained and compared to assess drug coverage by retail dollar sales and sales volume. Descriptive statistics and frequency/percentage of coverage were reported using SAS 9.2.Results: GDDPs covered the highest number of drugs for hypertension (21-27 across different GDDPs and the least (3-5 across different GDDPs for pulmonary/respiratory conditions. Arthritis (5-11, mental disorders (6-11 and diabetes (5-7 had similar coverage. When compared to the top 200 drugs by retail dollars spent during 2008, hypertension (68%-87% and diabetes (63%-88% had the highest coverage followed by respiratory conditions (30%-50%, arthritis (22%-48%, and mental disorders (21%-38%. Similar result was obtained when GDDP coverage was compared with the top 200 generic drugs by sales volume, where diabetes (63-88% and hypertension (57%-74% had the highest coverage and mental disorders remained the lowest (23%-37%.Conclusion/Implications: Drug coverage in GDDPs varied by pharmacies across the five common chronic conditions evaluated which may limit accessibility of these programs for

  1. Delay Discounting Rates Are Temporally Stable in an Equivalent Present Value Procedure Using Theoretical and Area under the Curve Analyses

    Science.gov (United States)

    Harrison, Justin; McKay, Ryan

    2012-01-01

    Temporal discounting rates have become a popular dependent variable in social science research. While choice procedures are commonly employed to measure discounting rates, equivalent present value (EPV) procedures may be more sensitive to experimental manipulation. However, their use has been impeded by the absence of test-retest reliability data.…

  2. A Tutorial on the Use of Excel 2010 and Excel for Mac 2011 for Conducting Delay-Discounting Analyses

    Science.gov (United States)

    Reed, Derek D.; Kaplan, Brent A.; Brewer, Adam T.

    2012-01-01

    In recent years, researchers and practitioners in the behavioral sciences have profited from a growing literature on delay discounting. The purpose of this article is to provide readers with a brief tutorial on how to use Microsoft Office Excel 2010 and Excel for Mac 2011 to analyze discounting data to yield parameters for both the hyperbolic…

  3. Retailer Stackelberg game in a supply chain with pricing and service decisions and simple price discount contract

    Science.gov (United States)

    Sadjadi, Seyed Jafar; Sadeghian, Ramin; Sahebi, Hadi

    2018-01-01

    This paper studies the Retailer Stackelberg game in a supply chain consisting of two manufacturers and one retailer where they compete simultaneously under three factors including price, service and simple price discount contract. It is assumed that the second manufacturer provides service directly to his customers, and the retailer provides service for the first product’s customers, while the retailer buys the first product under price discount from the first manufacturer. The analysis of the optimal equilibrium solutions and the results of the numerical examples show that if a manufacturer chooses the appropriate range of discount rate, he will gain more profit than when there is no discount given to the retailer. This situation can be considered as an effective tool for the coordination of the first manufacturer and the retailer to offer discount by manufacturer and to provide the service by the retailer. We obtain equilibrium solution of Retailer Stackelberg game and analyze the numerical examples under two cases: a) the manufacturers sell their products to the retailer without price discount contract. b) The first manufacturer sells his products to the retailer with the simple price discount contract. The preliminary results show that the service and the price discount contract can improve the performance of supply chain. PMID:29649315

  4. 75 FR 61747 - Discount Energy Group, LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes...

    Science.gov (United States)

    2010-10-06

    ... proceeding of Discount Energy Group, LLC's application for market-based rate authority, with an accompanying... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. ER10-2803-000] Discount Energy Group, LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes Request for Blanket...

  5. Retailer Stackelberg game in a supply chain with pricing and service decisions and simple price discount contract.

    Science.gov (United States)

    Sadjadi, Seyed Jafar; Asadi, Hashem; Sadeghian, Ramin; Sahebi, Hadi

    2018-01-01

    This paper studies the Retailer Stackelberg game in a supply chain consisting of two manufacturers and one retailer where they compete simultaneously under three factors including price, service and simple price discount contract. It is assumed that the second manufacturer provides service directly to his customers, and the retailer provides service for the first product's customers, while the retailer buys the first product under price discount from the first manufacturer. The analysis of the optimal equilibrium solutions and the results of the numerical examples show that if a manufacturer chooses the appropriate range of discount rate, he will gain more profit than when there is no discount given to the retailer. This situation can be considered as an effective tool for the coordination of the first manufacturer and the retailer to offer discount by manufacturer and to provide the service by the retailer. We obtain equilibrium solution of Retailer Stackelberg game and analyze the numerical examples under two cases: a) the manufacturers sell their products to the retailer without price discount contract. b) The first manufacturer sells his products to the retailer with the simple price discount contract. The preliminary results show that the service and the price discount contract can improve the performance of supply chain.

  6. Discounting of money and sex: effects of commodity and temporal position in stimulant-dependent men and women.

    Science.gov (United States)

    Jarmolowicz, David P; Landes, Reid D; Christensen, Darren R; Jones, Bryan A; Jackson, Lisa; Yi, Richard; Bickel, Warren K

    2014-11-01

    Research on delay discounting has contributed to the understanding of numerous addiction-related phenomena. For example, studies have shown that substance dependent individuals discount their addictive substances (e.g., cocaine) more rapidly than they do other commodities (e.g., money). Recent research has shown that substance dependent individuals discount delayed sex more rapidly than delayed money, and their discounting rates for delayed sex were higher than those of non-addicted individuals. The particular reason that delay discounting rates for sex are higher than those for money, however, are unclear. Do individuals discount delayed sex rapidly because immediate sex is particularly appealing or because delayed sex does not retain its value? Moreover, do the same factors influence men and women's choices? The current study examined delay discounting in four conditions (money now versus money later; sex now versus sex later; money now, versus sex later; sex now versus money later) in cocaine dependent men and women. The procedures used isolated the role of the immediate versus delayed commodity. For men, the higher rates of delay discounting for sex were because delayed sex did not retain its value, whereas both the immediate and delayed commodity influenced the female participants' decisions. Copyright © 2014 Elsevier Ltd. All rights reserved.

  7. 12 CFR 201.107 - Eligibility of demand paper for discount and as security for advances by Reserve Banks.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 2 2010-01-01 2010-01-01 false Eligibility of demand paper for discount and as... BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM EXTENSIONS OF CREDIT BY FEDERAL RESERVE BANKS (REGULATION A) Interpretations § 201.107 Eligibility of demand paper for discount and as security for advances...

  8. 26 CFR 1.163-3 - Deduction for discount on bond issued on or before May 27, 1969.

    Science.gov (United States)

    2010-04-01

    ... case of a callable bond, at the earlier call date) over the issue price of the bond (as defined in... 26 Internal Revenue 2 2010-04-01 2010-04-01 false Deduction for discount on bond issued on or... and Corporations § 1.163-3 Deduction for discount on bond issued on or before May 27, 1969. (a...

  9. The association between cingulate cortex glutamate concentration and delay discounting is mediated by resting state functional connectivity

    NARCIS (Netherlands)

    Schmaal, L.; Goudriaan, A.E.; van der Meer, J.; van den Brink, W.; Veltman, D.J.

    2012-01-01

    Humans vary in their ability to delay gratification and impulsive decision making is a common feature in various psychiatric disorders. The level of delay discounting is a relatively stable psychological trait, and therefore neural processes implicated in delay discounting are likely to be based on

  10. Solar Features - Solar Flares

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — A solar flare is a short-lived sudden increase in the intensity of radiation emitted in the neighborhood of sunspots. For many years it was best monitored in the...

  11. Solar storms; Tormentas solares

    Energy Technology Data Exchange (ETDEWEB)

    Collaboration: Pereira Cuesta, S.; Pereira Pagan, B.

    2016-08-01

    Solar storms begin with an explosion, or solar flare, on the surface of the sun. The X-rays and extreme ultraviolet radiation from the flare reach the Earths orbit minutes later-travelling at light speed. The ionization of upper layers of our atmosphere could cause radio blackouts and satellite navigation errors (GPS). Soon after, a wave of energetic particles, electrons and protons accelerated by the explosion crosses the orbit of the Earth, and can cause real and significant damage. (Author)

  12. Central Receiver Solar Thermal Power System, Phase 1. CDRL Item 2. Pilot Plant preliminary design report. Volume III, Book 1. Collector subsystem

    Energy Technology Data Exchange (ETDEWEB)

    Hallet, Jr., R. W.; Gervais, R. L.

    1977-10-01

    The central receiver system consists of a field of heliostats, a central receiver, a thermal storage unit, an electrical power generation system, and balance of plant. This volume discusses the collector field geometry, requirements and configuration. The development of the collector system and subsystems are discussed and the selection rationale outlined. System safety and availability are covered. Finally, the plans for collector portion of the central receiver system are reviewed.

  13. Temporal Discounting Is Associated with an Increased Risk of Mortality among Community-Based Older Persons without Dementia.

    Directory of Open Access Journals (Sweden)

    Patricia A Boyle

    Full Text Available Temporal discounting is an important determinant of many health and financial outcomes, but we are not aware of studies that have examined the association of temporal discounting with mortality.Participants were 406 older persons without dementia from the Rush Memory and Aging Project, a longitudinal cohort study of aging. Temporal discounting was measured using standard preference elicitation questions. Individual discount rates were estimated using a well-established hyperbolic function and used to predict the risk of mortality during up to 5 years of follow-up.The mean estimate of discounting was 0.45 (SD = 0.33, range: 0.08-0.90, with higher scores indicating a greater propensity to prefer smaller immediate rewards over larger but delayed ones. During up to 5 years of follow-up (mean = 3.6 years, 62 (15% of 406 persons died. In a proportional hazards model adjusted for age, sex, and education, temporal discounting was associated with an increased risk of mortality (HR = 1.103, 95% CI 1.024, 1.190, p = 0.010. Thus, a person with the highest discount rate (score = 0.90 was about twice more likely to die over the study period compared to a person with the lowest discount rate (score = 0.08. Further, the association of discounting with mortality persisted after adjustment for the level of global cognitive function, the burden of vascular risk factors and diseases, and an indicator of psychological well being (i.e., purpose in life.Temporal discounting is associated with an increased risk of mortality in old age after accounting for global cognitive function and indicators of physical and mental health.

  14. Solar System Update

    CERN Document Server

    Blondel, Philippe

    2006-01-01

    This book, the first in a series of forthcoming volumes, consists of topical and timely reviews of a number of carefully selected topics in solar systemn science. Contributions, in form of up-to-date reviews, are mainly aimed at professional astronomers and planetary scientists wishing to inform themselves about progress in fields closely related to their own field of expertise.

  15. Solar heating pipe

    Energy Technology Data Exchange (ETDEWEB)

    Hinson-Rider, G.

    1977-10-04

    A fluid carrying pipe is described having an integral transparent portion formed into a longitudinally extending cylindrical lens that focuses solar heat rays to a focal axis within the volume of the pipe. The pipe on the side opposite the lens has a heat ray absorbent coating for absorbing heat from light rays that pass through the focal axis.

  16. Delay Discounting of Video Game Players: Comparison of Time Duration Among Gamers.

    Science.gov (United States)

    Buono, Frank D; Sprong, Matthew E; Lloyd, Daniel P; Cutter, Christopher J; Printz, Destiny M B; Sullivan, Ryan M; Moore, Brent A

    2017-02-01

    Video game addiction or Internet game disorder, as proposed by the DSM-5 (Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition), has similar criterion characteristics to other impulse control disorders. There is limited research examining video game addiction within a behavioral economic framework using delay discounting. The current study evaluated delay-discounting patterns of money and video game play by usual weekly hours of video game play. A total of 104 participants were split into 1 of 3 groups of video game players (low, medium, and high) and were asked to complete a monetary and video game discounting procedure through an online survey. Results showed significant differences between groups within both the monetary (p = 0.003) and video game discounting procedures (p = 0.004). Additionally, a positive linear relationship was noted between the groups across both procedures. The results of the current article reinforce previous findings that more hours of video game use are associated with greater impulsivity and provide implications for future research.

  17. The impact of national brand introductions on hard-discounter image and share-of-wallet

    NARCIS (Netherlands)

    Lourenco, C.J.; Gijsbrechts, E.

    2013-01-01

    Hard-discounters (HDs) such as Aldi and Lidl are increasingly introducing national brands (NBs) into their private label (PL) dominated assortments. While there is evidence that this enhances sales in the categories where such NBs are added, little is known about how it affects consumers' overall

  18. Wait for It: Delay-Discounting and Academic Performance among an Irish Adolescent Sample

    Science.gov (United States)

    Freeney, Yseult; O'Connell, Michael

    2010-01-01

    Beyond cognitive ability and family background, are there other significant determinants of educational attainment? From research in psychology, economics, education and criminology, one powerful influence is the ability to delay gratification, operationalised in this paper as "delay-discounting". It is intuitively plausible that the…

  19. A Seasoned Instructor's New Look at Fixed-Income Securities: An Exercise Using Discounted Bonds

    Science.gov (United States)

    Secrest, Thomas W.

    2012-01-01

    Having returned to teaching the basics of pricing fixed-income securities after several years, the author recalls the difficulty students have in understanding the total return provided by fixed-income securities that are purchased at either a discount or premium from face value. This teaching note attempts to clarify the concept by suggesting…

  20. Discounting and decision making in the economic evaluation of health-care technologies.

    Science.gov (United States)

    Claxton, Karl; Paulden, Mike; Gravelle, Hugh; Brouwer, Werner; Culyer, Anthony J

    2011-01-01

    Discounting costs and health benefits in cost-effectiveness analysis has been the subject of recent debate - some authors suggesting a common rate for both and others suggesting a lower rate for health. We show how these views turn on key judgments of fact and value: on whether the social objective is to maximise discounted health outcomes or the present consumption value of health; on whether the budget for health care is fixed; on the expected growth in the cost-effectiveness threshold; and on the expected growth in the consumption value of health. We demonstrate that if the budget for health care is fixed and decisions are based on incremental cost effectiveness ratios (ICERs), discounting costs and health gains at the same rate is correct only if the threshold remains constant. Expecting growth in the consumption value of health does not itself justify differential rates but implies a lower rate for both. However, whether one believes that the objective should be the maximisation of the present value of health or the present consumption value of health, adopting the social time preference rate for consumption as the discount rate for costs and health gains is valid only under strong and implausible assumptions about values and facts. 2010 John Wiley & Sons, Ltd.

  1. On Discounting of Health Gains from Human Papillomavirus Vaccination : Effects of Different Approaches

    NARCIS (Netherlands)

    Westra, Tjalke A.; Parouty, Mehraj; Brouwer, Werner B.; Beutels, Philippe H.; Rogoza, Raina M.; Rozenbaum, Mark H.; Daemen, Toos; Wilschut, Jan C.; Boersma, Cornelis; Postma, Maarten J.

    Objectives: Discounting has long been a matter of controversy in the field of health economic evaluations. How to weigh future health effects has resulted in ongoing discussions. These discussions are imminently relevant for health care interventions with current costs but future benefits. Different

  2. Temporal Discounting of Hypothetical Monetary Rewards by Adolescents, Adults, and Older Adults

    Science.gov (United States)

    Whelan, Robert; McHugh, Louise A.

    2009-01-01

    The present experiment examined temporal discounting across 3 different age bands: adolescents, adults, and older adults (mean ages 14, 46, and 73 years, respectively). A computerized task was employed in which participants were asked to choose between larger rewards available at a specified time in the future--either 100 British Pounds or 1,000…

  3. Transactional Problem Content in Cost Discounting: Parallel Effects for Probability and Delay

    Science.gov (United States)

    Jones, Stephen; Oaksford, Mike

    2011-01-01

    Four experiments investigated the effects of transactional content on temporal and probabilistic discounting of costs. Kusev, van Schaik, Ayton, Dent, and Chater (2009) have shown that content other than gambles can alter decision-making behavior even when associated value and probabilities are held constant. Transactions were hypothesized to lead…

  4. Impacts of religious semantic priming on an intertemporal discounting task: Response time effects and neural correlates.

    Science.gov (United States)

    Morgan, Jonathan; Clark, Dustin; Tripodis, Yorghos; Halloran, Christopher S; Minsky, April; Wildman, Wesley J; Durso, Raymon; McNamara, Patrick

    2016-08-01

    The purpose of this study is to test the hypothesis that religious primes would influence intertemporal discounting behaviors in neurotypical older adults, but not in participants with Parkinson's disease (PD). Furthermore, we predicted that this priming effect would be related to functional connectivity within neural networks mediating religious cognition, decision-making, reward valuing, and prospection processes. Contrary to past research with young adults, we found a significant positive relationship between religiosity and discounting rates. Religious semantic primes did not reliably shift individual discounting rates. But religious controls did respond more quickly to intertemporal decisions under the religious priming condition than the neutral condition, compared to response time differences among the participants with PD. Differences in response time were significantly associated with functional connectivity between the nucleus accumbens and various regions, including the left anterior cingulate cortex and Brodmann areas 10 and 46 in the right dorsolateral prefrontal cortex. These results suggest that religious primes influence discounting behavior via dopaminergic meso-limbic and right dorsolateral prefrontal supporting cognitive valuation and prospection processes. Copyright © 2016 Elsevier Ltd. All rights reserved.

  5. Ordering Cost Reduction in Inventory Model with Defective Items and Backorder Price Discount

    Directory of Open Access Journals (Sweden)

    Karuppuchamy Annadurai

    2014-01-01

    Full Text Available In the real market, as unsatisfied demands occur, the longer the length of lead time is, the smaller the proportion of backorder would be. In order to make up for the inconvenience and even the losses of royal and patient customers, the supplier may offer a backorder price discount to secure orders during the shortage period. Also, ordering policies determined by conventional inventory models may be inappropriate for the situation in which an arrival lot contains some defective items. To compensate for the inconvenience of backordering and to secure orders, the supplier may offer a price discount on the stockout item. The purpose of this study is to explore a coordinated inventory model including defective arrivals by allowing the backorder price discount and ordering cost as decision variables. There are two inventory models proposed in this paper, one with normally distributed demand and another with distribution free demand. A computer code using the software Matlab 7.0 is developed to find the optimal solution and present numerical examples to illustrate the models. The results in the numerical examples indicate that the savings of the total cost are realized through ordering cost reduction and backorder price discount.

  6. The Choice of Discount Rate Applicable to Government Resource Use: Theory and Limitations

    Science.gov (United States)

    1987-12-01

    that postulates "the greatest good for the greatest number," as expressed by Jeremy Bentham in 1789. Although it might not be relevant in a modern...believed that there is no legiti- mate reason to discount the utilities of future generations. Along with Bentham in 1789, he believed the utility of each

  7. 76 FR 72498 - Rate for Use in Federal Debt Collection and Discount and Rebate Evaluation

    Science.gov (United States)

    2011-11-23

    ... interest charges for outstanding debts owed to the Government. Treasury's Cash Management Requirements (TFM... DEPARTMENT OF THE TREASURY Fiscal Service Rate for Use in Federal Debt Collection and Discount and...: Pursuant to Section 11 of the Debt Collection Act of 1982, as amended, (31 U.S.C. 3717), the Secretary of...

  8. Victims' time discounting 2.5 years after the Wenchuan earthquake: an ERP study.

    Directory of Open Access Journals (Sweden)

    Jin-Zhen Li

    Full Text Available Time discounting refers to the fact that the subjective value of a reward decreases as the delay until its occurrence increases. The present study investigated how time discounting has been affected in survivors of the magnitude-8.0 Wenchuan earthquake that occurred in China in 2008.Nineteen earthquake survivors and 22 controls, all school teachers, participated in the study. Event-related brain potentials (ERPs for time discounting tasks involving gains and losses were acquired in both the victims and controls.The behavioral data replicated our previous findings that delayed gains were discounted more steeply after a disaster. ERP results revealed that the P200 and P300 amplitudes were increased in earthquake survivors. There was a significant group (earthquake vs. non-earthquake × task (gain vs. loss interaction for the N300 amplitude, with a marginally significantly reduced N300 for gain tasks in the experimental group, which may suggest a deficiency in inhibitory control for gains among victims.The results suggest that post-disaster decisions might involve more emotional (System 1 and less rational thinking (System 2 in terms of a dual-process model of decision making. The implications for post-disaster intervention and management are also discussed.

  9. Using the IPEDS Peer Analysis System to Compare Tuition Discount Rates

    Science.gov (United States)

    Duggan, Michael; Mathews, Rebecca

    2005-01-01

    Tuition discounting began in the 1970s as the practice of using university funds to augment federal, state, and private aid and scholarships. When the 1980s saw a decrease in the number of high school seniors, universities began to compete in the arena of price for the first time, sparking what has been called an "arms race" of tuition discounting…

  10. Impatience and Grades: Delay-Discount Rates Correlate Negatively with College Gpa

    Science.gov (United States)

    Kirby, K.N.; Winston, G.C.; Santiesteban, M.

    2005-01-01

    Because the rewards of academic performance in college are often delayed, the delay-discounting model of impulsiveness (Ainslie (1975) [Ainslie, G. Specious reward: A behavioral theory of impulsiveness and impulse control. Psychological Bulletin, 82 (4), 463-496] predicts that academic performance should tend to decrease as people place less…

  11. "Just Give Me a Number!" Practical Values for the Social Discount Rate

    Science.gov (United States)

    Moore, Mark A.; Boardman, Anthony E.; Vining, Aidan R.; Weimer, David L.; Greenberg, David H.

    2004-01-01

    A major reason the quality of cost-benefit analysis (CBA) varies widely is inconsistent use of the social discount rate (SDR). This article offers guidance about the choice of the SDR. Namely, we recommend the following procedures: If the project is intragenerational (does not have effects beyond 50 years) and there is no crowding out of private…

  12. The impact of education on subjective discount rate in Ugandan villages

    Czech Academy of Sciences Publication Activity Database

    Bauer, Michal; Chytilová, J.

    2010-01-01

    Roč. 58, č. 4 (2010), s. 643-669 ISSN 0013-0079 R&D Projects: GA MŠk LC542 Keywords : education * subjective discount rate * rural populations * Uganda Subject RIV: AH - Economics Impact factor: 1.392, year: 2010

  13. Implicit discount rates of vascular surgeons in the management of abdominal aortic aneurysms.

    Science.gov (United States)

    Enemark, U; Lyttkens, C H; Troëng, T; Weibull, H; Ranstam, J

    1998-01-01

    A growing empirical literature has investigated attitudes towards discounting of health benefits with regard to social choices of life-saving and health-improving measures and individuals' time preferences for the management of their own health. In this study, the authors elicited the time preferences of vascular surgeons in the context of management of small abdominal aortic aneurysms, for which the choice between early elective surgery and watchful waiting is not straightforward. They interviewed 25 of a random sample of 30 Swedish vascular surgeons. Considerable variation in the time preferences was found in the choices between watchful waiting and surgical intervention among the otherwise very homogeneous group of surgeons. The discount rates derived ranged from 5.3% to 19.4%. The median discount rate (10.4%) is similar to those usually reported for social choices concerning life-saving measures. The surgeons who were employed in university hospitals had higher discount rates than did their colleagues in county and district hospitals.

  14. Stochastic Discount Factor Approach to International Risk-Sharing: Evidence from Fixed Exchange Rate Episodes

    NARCIS (Netherlands)

    Hadzi-Vaskov, M.; Kool, C.J.M.

    2007-01-01

    This paper presents evidence of the stochastic discount factor approach to international risk-sharing applied to fixed exchange rate regimes. We calculate risk-sharing indices for two episodes of fixed or very rigid exchange rates: the Eurozone before and after the introduction of the Euro, and

  15. Victims' time discounting 2.5 years after the Wenchuan earthquake: an ERP study.

    Science.gov (United States)

    Li, Jin-Zhen; Gui, Dan-Yang; Feng, Chun-Liang; Wang, Wen-Zhong; Du, Bo-Qi; Gan, Tian; Luo, Yue-Jia

    2012-01-01

    Time discounting refers to the fact that the subjective value of a reward decreases as the delay until its occurrence increases. The present study investigated how time discounting has been affected in survivors of the magnitude-8.0 Wenchuan earthquake that occurred in China in 2008. Nineteen earthquake survivors and 22 controls, all school teachers, participated in the study. Event-related brain potentials (ERPs) for time discounting tasks involving gains and losses were acquired in both the victims and controls. The behavioral data replicated our previous findings that delayed gains were discounted more steeply after a disaster. ERP results revealed that the P200 and P300 amplitudes were increased in earthquake survivors. There was a significant group (earthquake vs. non-earthquake) × task (gain vs. loss) interaction for the N300 amplitude, with a marginally significantly reduced N300 for gain tasks in the experimental group, which may suggest a deficiency in inhibitory control for gains among victims. The results suggest that post-disaster decisions might involve more emotional (System 1) and less rational thinking (System 2) in terms of a dual-process model of decision making. The implications for post-disaster intervention and management are also discussed.

  16. Delay discounting, risk-taking, and rejection sensitivity among individuals with Internet and Video Gaming Disorders.

    Science.gov (United States)

    Weinstein, Aviv; Abu, Hodaya Ben; Timor, Ayelet; Mama, Yaniv

    2016-12-01

    Background and aims There is a previous evidence for impulsivity in individuals with Internet and Video Gaming Disorders. The aim of this study was to examine whether Internet and video game addictions are associated with experiential delay discounting, risk-taking, and sensitivity to social rejection using computerized tasks and questionnaires. Methods Twenty participants (mean age 24, SD = 1.55) with high score on the Problematic Online Gaming Questionnaire (POGQ) were compared with 20 participants (mean age 24.8, SD = 1.34) with low score on the POGQ. They performed on computerized Balloon Analog Risk Task and Experiential Delay discounting Task (EDT), and filled in the sensitivity to social rejection questionnaire. Results Participants with high POGQ scores had lower measures of delay discounting, higher measures of risk-taking, and higher measures of sensitivity to social rejection compared with participants with low POGQ scores. Discussion The results of this study support the previous evidence of risk-taking and provide new evidence for difficulties in delay discounting and sensitivity to social rejection among those who score high on Internet and video games. Conclusions The results suggest that Internet- and video game-addicted individuals seek immediate gratification and cannot wait for later reward. Furthermore, these individuals spend time in the virtual world, where they feel safe, and avoid social interactions presumably due to fears of social rejection.

  17. A note on high discount rates and depletion of primary forests

    NARCIS (Netherlands)

    Bulte, E; vanSoest, D

    1996-01-01

    Conventional wisdom implies that high discount rates accelerate depletion of tropical forests. As shown in this article, this result does not necessarily hold in a two-state variable model that distinguishes between primary and secondary forest stocks. In the context of a fixed concession period and

  18. Age, gender and deterrability: Are younger male drivers more likely to discount the future?

    Science.gov (United States)

    Freeman, James; Kaye, Sherrie-Anne; Truelove, Verity; Davey, Jeremy

    2017-07-01

    Utilizing the Classical Deterrence theory and Stafford and Warr's (1993) reconceptualized model of deterrence, the current study examined whether age, gender, and discounting the future tendencies influence perceptions of being apprehended for speeding offences. Licensed motorists (N=700; 57% female) in Queensland (Australia) were recruited to complete a self-report questionnaire that measured perceptual deterrence, speeding related behaviors and discounting the future tendencies. Data were analyzed utilizing descriptive, bivariate and multivariate regressions. Significant (albeit weak) positive correlations were found between age and perceptions of apprehension certainty. Males were significantly more likely to report higher incidences of speeding (including while avoiding detection) compared to females. In contrast, females were more likely to perceive high levels of apprehension certainty and consider impending penalties to be more severe. At a multivariate level, discounting the future tendencies (in addition to being male, reporting lower levels of perceptual severity and swiftness, and more instances of punishment avoidance) were predictive of lower perceptual certainty levels. This study is one of the first to reveal that being male and having a tendency to discount the consequences of the future may directly influence drivers' perceptual deterrence levels. Copyright © 2017 Elsevier Ltd. All rights reserved.

  19. THE DISCOUNT RATE POLICY IN ROMANIA IN THE 20TH CENTURY

    Directory of Open Access Journals (Sweden)

    Pociovalisteanu Diana

    2009-05-01

    Full Text Available Throughout the 20th century, economists have generally acknowledged the importance of the central bank discount rate as the reference interest rate in a country: by increasing the interest rate during economic booms that forego the busts, the Central Bank

  20. Tables of compound-discount interest rate multipliers for evaluating forestry investments.

    Science.gov (United States)

    Allen L. Lundgren

    1971-01-01

    Tables, prepared by computer, are presented for 10 selected compound-discount interest rate multipliers commonly used in financial analyses of forestry investments. Two set of tables are given for each of the 10 multipliers. The first set gives multipliers for each year from 1 to 40 years; the second set gives multipliers at 5-year intervals from 5 to 160 years....

  1. Discounted semi-Markov decision processes : linear programming and policy iteration

    NARCIS (Netherlands)

    Wessels, J.; van Nunen, J.A.E.E.

    1975-01-01

    For semi-Markov decision processes with discounted rewards we derive the well known results regarding the structure of optimal strategies (nonrandomized, stationary Markov strategies) and the standard algorithms (linear programming, policy iteration). Our analysis is completely based on a primal

  2. Discounted semi-Markov decision processes : linear programming and policy iteration

    NARCIS (Netherlands)

    Wessels, J.; van Nunen, J.A.E.E.

    1974-01-01

    For semi-Markov decision processes with discounted rewards we derive the well known results regarding the structure of optimal strategies (nonrandomized, stationary Markov strategies) and the standard algorithms (linear programming, policy iteration). Our analysis is completely based on a primal

  3. Using Proactivity, Time Discounting, and the Theory of Planned Behavior to Identify Predictors of Retirement Planning

    Science.gov (United States)

    Griffin, Barbara; Loe, David; Hesketh, Beryl

    2012-01-01

    This study developed and tested a model to identify the predictors of retirement planning based on an extension of the theory of planned behavior ([TPB], Ajzen, 1991) that included individual differences in proactivity and time discounting. The results showed that personal attitudes, sense of control, social influence, and stable traits have a…

  4. Children's Conceptions of Work and Play: Exploring an Alternative to the Discounting Principle.

    Science.gov (United States)

    Hennessey, Beth A.; Berger, Andrea R.

    Factors such as an expected reward have been shown to severely undermine individuals' intrinsic interest in a given task. This "overjustification effect," or "discounting principle," has been demonstrated across the life span, except in the case of young children, who have been shown to be incapable of engaging in this…

  5. Distinct age-related differences in temporal discounting and risk taking in adolescents and young adults

    NARCIS (Netherlands)

    Water, E. de; Cillessen, A.H.N.; Scheres, A.P.J.

    2014-01-01

    Age-related differences in temporal discounting (TD) and risk taking, and their association, were examined in adolescents and young adults (n=337) aged 12-27years. Since monetary rewards are typically used in TD and risk-taking tasks, the association between monetary reward valuation and age and

  6. 26 CFR 1.6049-8 - Interest and original issue discount paid to residents of Canada.

    Science.gov (United States)

    2010-04-01

    ... residents of Canada. 1.6049-8 Section 1.6049-8 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE... original issue discount paid to residents of Canada. (a) Interest subject to reporting requirement. For... nonresident alien individual is an individual who resides in Canada and is not a United States citizen. The...

  7. Future Discounting by Slum-Dwelling Youth versus University Students in Rio de Janeiro

    Science.gov (United States)

    Ramos, Dandara; Victor, Tania; Seidl-de-Moura, Maria Lucia; Daly, Martin

    2013-01-01

    We compared Future Discounting (FD, preference for smaller, sooner rewards over larger, later ones) by 160 Brazilian youth (16-30 years old; 71 women and 89 men). University students and slum-dwelling (favela) youth were compared. Participants completed a monetary FD task, a scale of youngsters' view of their neighborhood, and self-reported…

  8. Resource Slack and Propensity to Discount Delayed Investments of Time Versus Money

    Science.gov (United States)

    Zauberman, Gal; Lynch, John G.

    2005-01-01

    The authors demonstrate that people discount delayed outcomes as a result of perceived changes over time in supplies of slack. Slack is the perceived surplus of a given resource available to complete a focal task. The present research shows that, in general, people expect slack for time to be greater in the future than in the present. Typically,…

  9. Save or (over-)spend? : The impact of hard-discounter shopping on consumers' grocery outlay

    NARCIS (Netherlands)

    Gijsbrechts, Els; Campo, K.; Vroegrijk, M.J.J.

    An increasing number of consumers have come to patronize a hard discounter (HD) to save on their grocery budget. Given the HDs' rock-bottom prices, a complete switch from the traditional supermarket (TS) to the HD format would, indeed, substantially reduce grocery spending. However, consumers

  10. The economic feasibility of price discounts to improve diet in Australian Aboriginal remote communities.

    Science.gov (United States)

    Magnus, Anne; Moodie, Marj L; Ferguson, Megan; Cobiac, Linda J; Liberato, Selma C; Brimblecombe, Julie

    2016-04-01

    To estimate the cost-effectiveness of fiscal measures applied in remote community food stores for Aboriginal Australians. Six price discount strategies on fruit, vegetables, diet drinks and water were modelled. Baseline diet was measured as 12 months' actual food sales data in three remote Aboriginal communities. Discount-induced changes in food purchases were based on published price elasticity data while the weight of the daily diet was assumed constant. Dietary change was converted to change in sodium and energy intake, and body mass index (BMI) over a 12-month period. Improved lifetime health outcomes, modelled for the remote population of Aboriginal and Torres Strait Islanders, were converted to disability adjusted life years (DALYs) saved using a proportional multistate lifetable model populated with diet-related disease risks and Aboriginal and Torres Strait Islander rates of disease. While dietary change was small, five of the six price discount strategies were estimated as cost-effective, below a $50,000/DALY threshold. Stakeholders are committed to finding ways to reduce important inequalities in health status between Aboriginal and Torres Strait Islanders and non-Indigenous Australians. Price discounts offer potential to improve Aboriginal and Torres Strait Islander health. Verification of these results by trial-based research coupled with consideration of factors important to all stakeholders is needed. © 2015 The Authors.

  11. Determining Optimal Discount Policies for a Supplier in B2B Relationships

    DEFF Research Database (Denmark)

    Buhayenko, Viktoryia; van Eikenhorst, Erik

    the total discount offered is greater than their total cost increase. This research assumes zero or low price elasticity of the demand, thus lower prices do not result in greater total demand, they only affect when orders will be placed. A heuristic solution is given by separating the problem into when...

  12. How hyperbolic discounting preference affects Chinese consumers’ consumption choice between conventional and electric vehicles

    International Nuclear Information System (INIS)

    Wu, Tian; Shang, Zhe; Tian, Xin; Wang, Shouyang

    2016-01-01

    This paper presents a theoretical model and addresses several issues related to life cycle cost analysis to illustrate how time-inconsistent preferences affect consumer choice. The particular case study selects involved consumer choice between a vehicle with high initial acquisition cost but low ownership cost (e.g., an Electric Vehicle, EV) and one with a low initial acquisition cost but high ownership cost (e.g., a conventional Internal Combustion Engine Vehicle, ICEV). To test our theoretical analysis, we conduct an empirical study on how time discounting rates affect consumer choice between ICEVs and EVs with different initial cost ratios. From the survey results, we find that individuals with higher present bias showed irrational purchase behavior even when controlling for wealth level. Specifically, people making some “stronger bias to present” decisions chose higher total cost ICEVs with lower initial cost but higher ownership cost over lower total cost EVs with higher initial cost and lower ownership cost. However, people’s long-term discount is not correlated with irrational vehicle purchase behavior. Furthermore, we study the present bias and long-term discount rate in one scenario and found present bias to be correlated with irrational behavior. - Highlights: • Theoretical model and survey based on psychological experiment are used for study. • Time inconsistency preferences may affect consumers' rational purchasing choice. • Present bias is correlated with irrational behavior, but long-term discount is not.

  13. 26 CFR 1.381(c)(9)-1 - Amortization of bond discount or premium.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Amortization of bond discount or premium. 1.381(c)(9)-1 Section 1.381(c)(9)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Insolvency Reorganizations § 1.381(c)(9)-1 Amortization of...

  14. 26 CFR 1.803-6 - Amortization of premium and accrual of discount.

    Science.gov (United States)

    2010-04-01

    ... amortization of premium and accrual of discount on bonds, notes, debentures, or other evidences of indebtedness... earliest call date specified therein as a day certain, the earliest interest payment date if it is callable or payable at such date, the earliest date at which it is callable at par, or such other call or...

  15. Consumer Acceptance of Genetically Modified Foods in Taiwan: Is Positive Discount the Same as Negative Premium?

    OpenAIRE

    Kaneko, Naoya; Chern, Wen S.

    2005-01-01

    This paper finds Taiwanese consumers' willingness to pay a premium on the non-GM food differs from their willingness to accept a discount on the GM food. It further finds that the non-GM choosers are more committed to the non-GM food than the GM choosers to the GM food.

  16. The Effects of Inflation and Interest Rates on Delay Discounting in Human Behavior

    Science.gov (United States)

    Kawashima, Kentaro

    2006-01-01

    Interest and inflation rates may be major determinants of delay discounting, but these variables have not been controlled in past experiments because they depend on macroeconomic conditions. This study uses a computer game-like task to investigate the effects of inflation rates on people's subjective valuation of delayed rewards. During the task,…

  17. Supply Chain Coordination under Trade Credit and Quantity Discount with Sales Effort Effects

    Directory of Open Access Journals (Sweden)

    Zhihong Wang

    2018-01-01

    Full Text Available The purpose of this paper is to investigate the role of trade credit and quantity discount in supply chain coordination when the sales effort effect on market demand is considered. In this paper, we consider a two-echelon supply chain consisting of a single retailer ordering a single product from a single manufacturer. Market demand is stochastic and is influenced by retailer sales effort. We formulate an analytical model based on a single trade credit and find that the single trade credit cannot achieve the perfect coordination of the supply chain. Then, we develop a hybrid quantitative analytical model for supply chain coordination by coherently integrating incentives of trade credit and quantity discount with sales effort effects. The results demonstrate that, providing that the discount rate satisfies certain conditions, the proposed hybrid model combining trade credit and quantity discount will be able to effectively coordinate the supply chain by motivating retailers to exert their sales effort and increase product order quantity. Furthermore, the hybrid quantitative analytical model can provide great flexibility in coordinating the supply chain to achieve an optimal situation through the adjustment of relevant parameters to resolve conflict of interests from different supply chain members. Numerical examples are provided to demonstrate the effectiveness of the hybrid model.

  18. Flat solar collector an approach to its evaluation

    Energy Technology Data Exchange (ETDEWEB)

    Sonino, T [Israel Atomic Energy Commission, Yavne. Soreq Nuclear Research Center

    1977-01-01

    The flat solar collector is the most widely used device for the utilization of solar energy, but its energetic and economic values are still debated. A preliminary energy and economic analysis is presented. The energy analysis indicates that the energy needed to produce one solar collector is equivalent to the electricity consumed by an electric water heater in roughly three months. The economic analysis indicates that the pay-back time for a solar collector varies from 5.5 to 7.7 yr. according to the discount rate. The economic analysis from a national point of view indicates that the use of solar collectors for domestic purposes could only reduce electricity consumption in Israel by 10%.

  19. Cognitive decline is associated with risk aversion and temporal discounting in older adults without dementia.

    Directory of Open Access Journals (Sweden)

    Bryan D James

    Full Text Available Risk aversion and temporal discounting are preferences that are strongly linked to sub-optimal financial and health decision making ability. Prior studies have shown they differ by age and cognitive ability, but it remains unclear whether differences are due to age-related cognitive decline or lower cognitive abilities over the life span. We tested the hypothesis that cognitive decline is associated with higher risk aversion and temporal discounting in 455 older persons without dementia from the Memory and Aging Project, a longitudinal cohort study of aging in Chicago. All underwent repeated annual cognitive evaluations using a detailed battery including 19 tests. Risk aversion was measured using standard behavioral economics questions: participants were asked to choose between a certain monetary payment versus a gamble in which they could gain more or nothing; potential gamble gains varied across questions. Temporal discounting: participants were asked to choose between an immediate, smaller payment and a delayed, larger one; two sets of questions addressed small and large stakes based on payment amount. Regression analyses were used to examine whether prior rate of cognitive decline predicted level of risk aversion and temporal discounting, controlling for age, sex, and education. Over an average of 5.5 (SD=2.9 years, cognition declined at an average of 0.016 units per year (SD=0.03. More rapid cognitive decline predicted higher levels of risk aversion (p=0.002 and temporal discounting (small stakes: p=0.01, high stakes: p=0.006. Further, associations between cognitive decline and risk aversion (p=0.015 and large stakes temporal discounting (p=0.026 persisted in analyses restricted to persons without any cognitive impairment (i.e., no dementia or mild cognitive impairment; the association of cognitive decline and small stakes temporal discounting was no longer statistically significant (p=0.078. These findings are consistent with the

  20. Cognitive decline is associated with risk aversion and temporal discounting in older adults without dementia.

    Science.gov (United States)

    James, Bryan D; Boyle, Patricia A; Yu, Lei; Han, S Duke; Bennett, David A

    2015-01-01

    Risk aversion and temporal discounting are preferences that are strongly linked to sub-optimal financial and health decision making ability. Prior studies have shown they differ by age and cognitive ability, but it remains unclear whether differences are due to age-related cognitive decline or lower cognitive abilities over the life span. We tested the hypothesis that cognitive decline is associated with higher risk aversion and temporal discounting in 455 older persons without dementia from the Memory and Aging Project, a longitudinal cohort study of aging in Chicago. All underwent repeated annual cognitive evaluations using a detailed battery including 19 tests. Risk aversion was measured using standard behavioral economics questions: participants were asked to choose between a certain monetary payment versus a gamble in which they could gain more or nothing; potential gamble gains varied across questions. Temporal discounting: participants were asked to choose between an immediate, smaller payment and a delayed, larger one; two sets of questions addressed small and large stakes based on payment amount. Regression analyses were used to examine whether prior rate of cognitive decline predicted level of risk aversion and temporal discounting, controlling for age, sex, and education. Over an average of 5.5 (SD=2.9) years, cognition declined at an average of 0.016 units per year (SD=0.03). More rapid cognitive decline predicted higher levels of risk aversion (p=0.002) and temporal discounting (small stakes: p=0.01, high stakes: p=0.006). Further, associations between cognitive decline and risk aversion (p=0.015) and large stakes temporal discounting (p=0.026) persisted in analyses restricted to persons without any cognitive impairment (i.e., no dementia or mild cognitive impairment); the association of cognitive decline and small stakes temporal discounting was no longer statistically significant (p=0.078). These findings are consistent with the hypothesis that