scholarly journals An Endowment Effect for Risk: Experimental Tests of Stochastic Reference Points

2015 ◽  
Vol 123 (6) ◽  
pp. 1456-1499 ◽  
Author(s):  
Charles Sprenger
Keyword(s):  
Experimental Tests ◽  
Endowment Effect ◽  
Reference Points

scholarly journals Blade Tip-timing Technology with Multiple Reference Phases for Online Monitoring of High-speed Blades under Variable-speed Operation

2018 ◽  
Vol 18 (6) ◽  
pp. 243-250 ◽  
Author(s):  
Zhang Ji-wang ◽  
Zhang Lai-bin ◽  
Ding Ke-Qin ◽  
Duan Li-xiang
Keyword(s):  
High Speed ◽  
Online Monitoring ◽  
Rotation Speed ◽  
Experimental Tests ◽  
Reference Points ◽  
Variable Speed ◽  
Rotating Shaft ◽  
Virtual Reference ◽  
Blade Tip ◽  
Multiple Reference

Abstract High-speed blades form core mechanical components in turbomachines. Research concerning online monitoring of operating states of such blades has drawn increased attention in recent years. To this end, various methods have been devised, of which, the blade tip-timing (BTT) technique is considered the most promising. However, the traditional BTT method is only suitable for constant-speed operations. But in practice, the rotational speed of turbomachine blades is constantly changing under the influence of external factors, which lead to unacceptable errors in measurement. To tackle this problem, a new BTT method based on multi-phases is proposed. A plurality of phases was arranged as evenly as possible on the rotating shaft to determine the rotation speed. Meanwhile, the corresponding virtual reference point was determined in accordance with the number of blades between consecutive phases. Based on these reference points, equations to measure displacement due to blade vibrations were deduced. Finally, mathematical modeling, numerical simulation and experimental tests were performed to verify the validity of the proposed method. Results demonstrate that the error in measurement induced when using the proposed method is less than 1.8 %, which is much lower compared to traditional methods utilized under variable-speed operation.

scholarly journals Salience in Experimental Tests of the Endowment Effect

2012 ◽  
Author(s):  
Pedro Bordalo ◽  
Nicola Gennaioli ◽  
Andrei Shleifer
Keyword(s):  
Experimental Tests ◽  
Endowment Effect

scholarly journals Experimental tests of the endowment effect

1996 ◽  
Vol 30 (2) ◽  
pp. 213-226 ◽  
Author(s):  
Robert Franciosi ◽  
Praveen Kujal ◽  
Roland Michelitsch ◽  
Vernon Smith ◽  
Gang Deng
Keyword(s):  
Experimental Tests ◽  
Endowment Effect

scholarly journals Endowment effect in capuchin monkeys

2008 ◽  
Vol 363 (1511) ◽  
pp. 3837-3844 ◽  
Author(s):  
Venkat Lakshminaryanan ◽  
M Keith Chen ◽  
Laurie R Santos
Keyword(s):  
Transaction Costs ◽  
Rational Choice ◽  
Loss Aversion ◽  
New World ◽  
Endowment Effect ◽  
Reference Points ◽  
Capuchin Monkeys ◽  
Cognitive Systems ◽  
Reference Dependence ◽  
World Primate

In humans, the capacity for economically rational choice is constrained by a variety of preference biases: humans evaluate gambles relative to arbitrary reference points; weigh losses heavier than equally sized gains; and demand a higher price for owned goods than for equally preferred goods that are not yet owned. To date, however, fewer studies have examined the origins of these biases. Here, we review previous work demonstrating that human economic biases such as loss aversion and reference dependence are shared with an ancestrally related New World primate, the capuchin monkey ( Cebus apella ). We then examine whether capuchins display an endowment effect in a token-trading task. We identified pairs of treats (fruit discs versus cereal chunks) that were equally preferred by each monkey. When given a chance to trade away their owned fruit discs to obtain the equally valued cereal chunks (or vice versa), however, monkeys required a far greater compensation than the equally preferred treat. We show that these effects are not due to transaction costs or timing issues. These data suggest that biased preferences rely on cognitive systems that are more evolutionarily ancient than previously thought—and that common evolutionary ancestry shared by humans and capuchins may account for the occurrence of the endowment effect in both species.

scholarly journals Salience in Experimental Tests of the Endowment Effect

2012 ◽  
Vol 102 (3) ◽  
pp. 47-52 ◽  
Author(s):  
Pedro Bordalo ◽  
Nicola Gennaioli ◽  
Andrei Shleifer
Keyword(s):  
Experimental Evidence ◽  
Experimental Tests ◽  
Endowment Effect ◽  
Two Stage ◽  
Reference Prices

We provide a novel account of experimental evidence for the endowment effect using the salience mechanism (Bordalo, Gennaioli, and Shleifer, 2011). The two-stage procedure implemented in experiments implies that the endowed good and other goods are evaluated in different contexts. We describe conditions under which the standard effect occurs, but also account for recent evidence such as a reverse endowment effect for bads and a role for reference prices in modulating the WTA-WTP gap.

Experimental Tests of the Endowment Effect and the Coase Theorem

1990 ◽  
Vol 98 (6) ◽  
pp. 1325-1348 ◽  
Author(s):  
Daniel Kahneman ◽  
Jack L. Knetsch ◽  
Richard H. Thaler
Keyword(s):  
Experimental Tests ◽  
Endowment Effect ◽  
Coase Theorem

Experimental Tests of the Endowment Effect and the Coase Theorem

2011 ◽  
pp. 55-74 ◽  
Author(s):  
DANIEL KAHNEMAN ◽  
JACK L. KNETSCH ◽  
RICHARD H. THALER
Keyword(s):  
Experimental Tests ◽  
Endowment Effect ◽  
Coase Theorem

scholarly journals Improved Step Load Response of a Dual-Active-Bridge DC–DC Converter

Electronics ◽  
2018 ◽  
Vol 7 (9) ◽  
pp. 185 ◽  
Author(s):  
Yifan Zhang ◽  
Xiaodong Li ◽  
Chuan Sun ◽  
Zhanhong He
Keyword(s):  
Change Process ◽  
Experimental Tests ◽  
Reference Points ◽  
Dc Offset ◽  
Dual Active Bridge ◽  
Load Response ◽  
Load Change ◽  
Instantaneous Current ◽  
Transient Control ◽  
Fixed Reference

This paper proposes a fast load transient control for a bidirectional dual-active-bridge (DAB) DC/DC converter. It is capable of maintaining voltage–time balance during a step load change process so that no overshoot current and DC offset current exist. The transient control has been applied for all possible transition cases and the calculation of intermediate switching angles referring to the fixed reference points is independent from the converter parameters and the instantaneous current. The results have been validated by extended experimental tests.

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