Coherence and Elicitability

The risk of a financial position is usually summarized by a risk measure. As this risk measure has to be estimated from historical data, it is important to be able to verify and compare competing estimation procedures. In statistical decision theory, risk measures for which such verification and comparison is possible, are called elicitable. It is known that quantile-based risk measures such as value at risk are elicitable. In this paper, the existing result of the nonelicitability of expected shortfall is extended to all law-invariant spectral risk measures unless they reduce to minus the expected value. Hence, it is unclear how to perform forecast verification or comparison. However, the class of elicitable law-invariant coherent risk measures does not reduce to minus the expected value. We show that it consists of certain expectiles.

Decision strategies for policy decisions under uncertainties: The case of mitigation measures addressing methane emissions from ruminants

Decision strategies aim at enabling reasonable decisions in cases of uncertain policy decision problems which do not meet the conditions for applying standard decision theory. This paper focuses on decision strategies that account for uncertainties by deciding whether a proposed list of policy options should be accepted or revised (scope strategies) and whether to decide now or later (timing strategies). They can be used in participatory approaches to structure the decision process. As a basis, we propose to classify the broad range of uncertainties affecting policy decision problems along two dimensions, source of uncertainty (incomplete information, inherent indeterminacy and unreliable information) and location of uncertainty (information about policy options, outcomes and values). Decision strategies encompass multiple and vague criteria to be deliberated in application. As an example, we discuss which decision strategies may account for the uncertainties related to nutritive technologies that aim at reducing methane (CH4) emissions from ruminants as a means of mitigating climate change, limiting our discussion to published scientific information. These considerations not only speak in favour of revising rather than accepting the discussed list of options, but also in favour of active postponement or semi-closure of decision-making rather than closure or passive postponement.

Can the neuroeconomics revolution revolutionize psychiatry?

Neuroeconomics is a rapidly growing new research discipline aimed at describing the neural substrate of decision-making using incentivized decisions introduced in experimental economics. The novel combination of economic decision theory and neuroscience has the potential to better examine the interactions of social, psychological and neural factors with regard to motivational forces that may underlie psychiatric problems. Game theory will provide psychiatry with computationally principled measures of cognitive dysfunction. Given the relatively high heritability of these measures, they may contribute to improving phenotypic definitions of psychiatric conditions. The game-theoretical concepts of optimal behavior will allow description of psychopathology as deviation from optimal functioning. Neuroeconomists have successfully used normative or near-normative models to interpret the function of neurotransmitters; these models have the potential to significantly improve neurotransmitter theories of psychiatric disorders. This paper will review recent evidence from neuroeconomics and psychiatry in support of applying economic concepts such as risk/uncertainty preference, time preference and social preference to psychiatric research to improve diagnostic classification, prevention and therapy.

The (2 + 1)-d U (1) quantum link model masquerading as deconfined criticality

The (2 + 1)-d U(1) quantum link model is a gauge theory, amenable to quantum simulation, with a spontaneously broken SO(2) symmetry emerging at a quantum phase transition. Its low-energy physics is described by a (2 + 1)-d RP(1) effective field theory, perturbed by an SO(2) breaking operator, which prevents the interpretation of the emergent pseudo-Goldstone boson as a dual photon. At the quantum phase transition, the model mimics some features of deconfined quantum criticality, but remains linearly confining. Deconfinement only sets in at high temperature.

Correlating the Ancient Maya and Modern European Calendars with High-Precision AMS 14C Dating

The reasons for the development and collapse of Maya civilization remain controversial and historical events carved on stone monuments throughout this region provide a remarkable source of data about the rise and fall of these complex polities. Use of these records depends on correlating the Maya and European calendars so that they can be compared with climate and environmental datasets. Correlation constants can vary up to 1000 years and remain controversial. We report a series of high-resolution AMS C-14 dates on a wooden lintel collected from the Classic Period city of Tikal bearing Maya calendar dates. The radiocarbon dates were calibrated using a Bayesian statistical model and indicate that the dates were carved on the lintel between AD 658-696. This strongly supports the Goodman-Martinez-Thompson (GMT) correlation and the hypothesis that climate change played an important role in the development and demise of this complex civilization.

Addendum: search for ν μ → ν e oscillations with the OPERA experiment in the CNGS beam

A first result of the search for ν ( )μ( ) → ν ( )e( ) oscillations in the OPERA experiment, located at the Gran Sasso Underground Laboratory, is presented. The experiment looked for the appearance of ν ( )e( ) in the CNGS neutrino beam using the data collected in 2008 and 2009. Data are compatible with the non-oscillation hypothesis in the three-flavour mixing model. A further analysis of the same data constrains the non-standard oscillation parameters θ (new) and suggested by the LSND and MiniBooNE experiments. For large values (>0.1 eV(2)), the OPERA 90% C.L. upper limit on sin(2)(2θ (new)) based on a Bayesian statistical method reaches the value 7.2 × 10(−3).

Inégalités de formation lors de l’accès à l’enseignement supérieur selon le sexe et le contexte migratoire: résultats de l’analyse des situations suisse, allemande et française

La présente contribution porte sur le passage dans le degré tertiaire en tenant compte de l’intrication des inégalités liées au sexe et au contexte migratoire. L’étude, qui repose sur des concepts de la théorie décisionnelle, s’articule principalement sur une comparaison entre la Suisse (TREE), l’Allemagne (élèves pouvant prétendre aux études supérieures 2002 HIS) et la France (Panel d'élèves du second degré 1995). Les résultats révèlent qu’en Suisse et en Allemagne, indépendamment de l’origine sociale, les jeunes hommes appartenant à certains groupes de migrants socialement défavorisés (2e génération) affichent un taux de passage dans le supérieur plus élevé que leurs camarades nationaux. Ils mettent par ailleurs en évidence que, ni en Suisse, ni en Allemagne, ni en France, les migrantes de deuxième génération issues de pays fortement marqués par le modèle patriarcal sont désavantagées.

Search for νμ→νe oscillations with the OPERA experiment in the CNGS beam

A first result of the search for nu(mu)->nu(e) oscillations in the OPERA experiment, located at the Gran Sasso Underground Laboratory, is presented. The experiment looked for the appearance of nu(e) in the CNGS neutrino beam using the data collected in 2008 and 2009. Data are compatible with the non-oscillation hypothesis in the three-flavour mixing model. A further analysis of the same data constrains the non-standard oscillation parameters theta(new) and Delta m(new)(2) suggested by the LSND and MiniBooNE experiments. For large Delta m(new)(2) values (>0.1 eV(2)), the OPERA 90% C.L. upper limit on sin(2)(2 theta(new)) based on a Bayesian statistical method reaches the value 7.2 x 10(-3).

From Statistical Data to Spatial Knowledge - informing decision making in Vietnam

Vietnam has developed rapidly over the past 15 years. However, progress was not uniformly distributed across the country. Availability, adequate visualization and analysis of spatially explicit data on socio-economic and environmental aspects can support both research and policy towards sustainable development. Applying appropriate mapping techniques allows gleaning important information from tabular socio-economic data. Spatial analysis of socio-economic phenomena can yield insights into locally-specifi c patterns and processes that cannot be generated by non-spatial applications. This paper presents techniques and applications that develop and analyze spatially highly disaggregated socioeconomic datasets. A number of examples show how such information can support informed decisionmaking and research in Vietnam.