Can Professional Traders Decipher Price Signals? Evidence from Bookmaking

2021 ◽  
Author(s):  
Alasdair Brown ◽  
Fuyu Yang
Keyword(s):  
Price Signals ◽  
Professional Traders

scholarly journals Impact of ambient sound on risk perception in humans: neuroeconomic investigations

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Elise Payzan-LeNestour ◽  
Lionnel Pradier ◽  
James Doran ◽  
Gideon Nave ◽  
Bernard Balleine
Keyword(s):  
Risk Perception ◽  
Multisensory Perception ◽  
Future Research ◽  
Perception Of Risk ◽  
Asset Risk ◽  
Financial Trading ◽  
Ambient Sound ◽  
General Relevance ◽  
Wide Range ◽  
Professional Traders

AbstractResearch in the field of multisensory perception shows that what we hear can influence what we see in a wide range of perceptual tasks. It is however unknown whether this extends to the visual perception of risk, despite the importance of the question in many applied domains where properly assessing risk is crucial, starting with financial trading. To fill this knowledge gap, we ran interviews with professional traders and conducted three laboratory studies using judgments of financial asset risk as a testbed. We provide evidence that the presence of ambient sound impacts risk perception, possibly due to the combination of facilitatory and synesthetic effects of general relevance to the perception of risk in many species as well as humans. We discuss the implications of our findings for various applied domains (e.g., financial, medical, and military decision-making), and raise new questions for future research.

scholarly journals Adaptive Robust Optimization-Based Optimal Operation of Microgrids Considering Uncertainties in Arrival and Departure Times of Electric Vehicles

Energies ◽  
2018 ◽  
Vol 11 (10) ◽  
pp. 2646 ◽  
Author(s):  
Se-Hyeok Choi ◽  
Akhtar Hussain ◽  
Hak-Man Kim
Keyword(s):  
Robust Optimization ◽  
Electric Vehicles ◽  
Unit Commitment ◽  
Renewable Energy Sources ◽  
Market Price ◽  
Optimal Operation ◽  
Worst Case ◽  
Price Signals ◽  
Power Trading ◽  
The Impact

The optimal operation of microgrids is challenging due to the presence of various uncertain factors, i.e., renewable energy sources, loads, market price signals, and arrival and departure times of electric vehicles (EVs). In order to incorporate these uncertainties into the operation model of microgrids, an adaptive robust optimization-based operation method is proposed in this paper. In particular, the focus is on the uncertainties in arrival and departure times of EVs. The optimization problem is divided into inner and outer problems and is solved iteratively by introducing column and constraint cuts. The unit commitment status of dispatchable generators is determined in the outer problem. Then, the worst-case realizations of all the uncertain factors are determined in the inner problem. Based on the values of uncertain factors, the generation amount of dispatchable generators, the amount of power trading with the utility grid, and the charging/discharging amount of storage elements are determined. The performance of the proposed method is evaluated using three different cases, and sensitivity analysis is carried out by varying the number of EVs and the budget of uncertainty. The impact of the budget of uncertainty and number of EVs on the operation cost of the microgrid is also evaluated considering uncertainties in arrival and departure times of EVs.

Whatever Happened to Efficient Price Signals?

1999 ◽  
Vol 12 (3) ◽  
pp. 40-48
Author(s):  
Kellogg L. Warner ◽  
Henry Y. Yoshimura ◽  
Philip M. Marston
Keyword(s):  
Price Signals ◽  
Efficient Price

Redesigning the Market for Volunteers: A Donor Registry

2020 ◽  
Vol 66 (8) ◽  
pp. 3528-3541 ◽  
Author(s):  
Stephanie A. Heger ◽  
Robert Slonim ◽  
Ellen Garbarino ◽  
Carmen Wang ◽  
Daniel Waller
Keyword(s):  
Field Experiment ◽  
Labor Markets ◽  
Whole Blood ◽  
Market Failure ◽  
Blood Donors ◽  
Market Outcomes ◽  
Market Clearing ◽  
Intention To Treat ◽  
Price Signals ◽  
Volunteer Labor

This paper addresses volunteer labor markets where the lack of price signals, nonpecuniary motivations to supply labor, and limited fungibility of supply lead to market failure. To address the causes of the market failure, we conduct a field experiment with volunteer whole blood donors where we introduce a market-clearing mechanism (henceforth: the Registry). Our intention-to-treat estimates suggest that subjects invited to the Registry, regardless of joining, are 66% more responsive to critical shortage appeals than control subjects. While the Registry increases supply during a critical shortage episode, it does not increase supply when there is no shortage; thus, the Registry significantly improves coordination between volunteer donors and collection centers, thereby improving market outcomes. We find evidence that the Registry’s effectiveness stems from crowding-in volunteers with purely altruistic motives and volunteers with a preference for commitment. This paper was accepted by Yan Chen, decision analysis.

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