7 resultados para expected utility theory

em BORIS: Bern Open Repository and Information System - Berna - Suiça


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This investigation attempts to answer the question why more and more parents have chosen the Gymnasium for their children's secondary school education in post‐war West Germany. Based on the theory of subjective expected utility, the crucial mechanisms of parental educational decisions have been emphasized. From this perspective it is assumed that increasing educational motivation coupled with changes in the subjective evaluation of the cost–benefit of education were important conditions for an increasing participation in upper secondary schools. These were, however, in turn, the result of educational expansion. The empirical analyses for three time‐periods in the 1960s, 1970s, and 1980s confirm these assumptions to a large degree. Additionally, empirical evidence was found to suggest that in addition to the intentions of parents and the educational career of their children, structural moments of educational expansion and their own inertia played an important role in the pupils' transition from one educational level to the next. Finally, evidence was found that persistent class‐specific educational inequality stems from a constant balance in the relative cost–benefit advantages between social classes as well as from an increasing difference of primary origin effect between social classes in the realization of their educational choice.

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This article seeks to contribute to the illumination of the so-called 'paradox of voting' using the German Bundestag elections of 1998 as an empirical case. Downs' model of voter participation will be extended to include elements of the theory of subjective expected utility (SEU). This will allow a theoretical and empirical exploration of the crucial mechanisms of individual voters' decisions to participate, or abstain from voting, in the German general election of 1998. It will be argued that the infinitely low probability of an individual citizen's vote to decide the election outcome will not necessarily reduce the probability of electoral participation. The empirical analysis is largely based on data from the ALLBUS 1998. It confirms the predictions derived from SEU theory. The voters' expected benefits and their subjective expectation to be able to influence government policy by voting are the crucial mechanisms to explain participation. By contrast, the explanatory contribution of perceived information and opportunity costs is low.

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Die vorliegende Untersuchung ist ein Beitrag, die Frage zu klären, warum in der westdeutschen Nachkriegszeit immer mehr Schulpflichtige nach Abschluss der Grundschule das Gymnasium besuchen. Ausgehend von einem entscheidungstheoretischen Modell der subjektiven Werterwartung werden Mechanismen der elterlichen Bildungsentscheidung aufgezeigt. Dabei wird davon ausgegangen, dass sowohl zunehmende Bildungsmotivationen als auch Veränderungen in der subjektiven Bewertung von Kosten und Nutzen für eine höhere Bildung wichtige Voraussetzungen für die zunehmende Bildungsbeteiligung, aber auch Folgen der Bildungsexpansion waren. Die empirischen Analysen für drei Zeitpunkte in den 60er, 70er und 80er Jahren bestätigen diese Annahmen weitgehend. Ebenso wurde empirisch belegt, welch wichtige Rolle neben den Bildungsintentionen von Eltern und dem vorhergehenden Bildungsverlauf ihrer Kinder auch strukturelle Momente der Bildungsexpansion und ihre Eigendynamik beim tatsächlichen Bildungsübergang spielen. Schließlich gibt es Hinweise dafür, dass die Persistenz klassenspezifischer Bildungsungleichheiten auf einer konstanten Balance von Nutzen und Kosten zwischen den sozialen Klassen basiert.

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Economic theory distinguishes two concepts of utility: decision utility, objectively quantifiable by choices, and experienced utility, referring to the satisfaction by an obtainment. To date, experienced utility is typically measured with subjective ratings. This study intended to quantify experienced utility by global levels of neuronal activity. Neuronal activity was measured by means of electroencephalographic (EEG) responses to gain and omission of graded monetary rewards at the level of the EEG topography in human subjects. A novel analysis approach allowed approximating psychophysiological value functions for the experienced utility of monetary rewards. In addition, we identified the time windows of the event-related potentials (ERP) and the respective intracortical sources, in which variations in neuronal activity were significantly related to the value or valence of outcomes. Results indicate that value functions of experienced utility and regret disproportionally increase with monetary value, and thus contradict the compressing value functions of decision utility. The temporal pattern of outcome evaluation suggests an initial (∼250 ms) coarse evaluation regarding the valence, concurrent with a finer-grained evaluation of the value of gained rewards, whereas the evaluation of the value of omitted rewards emerges later. We hypothesize that this temporal double dissociation is explained by reward prediction errors. Finally, a late, yet unreported, reward-sensitive ERP topography (∼500 ms) was identified. The sources of these topographical covariations are estimated in the ventromedial prefrontal cortex, the medial frontal gyrus, the anterior and posterior cingulate cortex and the hippocampus/amygdala. The results provide important new evidence regarding “how,” “when,” and “where” the brain evaluates outcomes with different hedonic impact.

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OBJECTIVE Obtaining new details of radial motion of left ventricular (LV) segments using velocity-encoding cardiac MRI. METHODS Cardiac MR examinations were performed on 14 healthy volunteers aged between 19 and 26 years. Cine images for navigator-gated phase contrast velocity mapping were acquired using a black blood segmented κ-space spoiled gradient echo sequence with a temporal resolution of 13.8 ms. Peak systolic and diastolic radial velocities as well as radial velocity curves were obtained for 16 ventricular segments. RESULTS Significant differences among peak radial velocities of basal and mid-ventricular segments have been recorded. Particular patterns of segmental radial velocity curves were also noted. An additional wave of outward radial movement during the phase of rapid ventricular filling, corresponding to the expected timing of the third heart sound, appeared of particular interest. CONCLUSION The technique has allowed visualization of new details of LV radial wall motion. In particular, higher peak systolic radial velocities of anterior and inferior segments are suggestive of a relatively higher dynamics of anteroposterior vs lateral radial motion in systole. Specific patterns of radial motion of other LV segments may provide additional insights into LV mechanics. ADVANCES IN KNOWLEDGE The outward radial movement of LV segments impacted by the blood flow during rapid ventricular filling provides a potential substrate for the third heart sound. A biphasic radial expansion of the basal anteroseptal segment in early diastole is likely to be related to the simultaneous longitudinal LV displacement by the stretched great vessels following repolarization and their close apposition to this segment.

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Fermion boundary conditions play a relevant role in revealing the confinement mechanism of N=1 supersymmetric Yang-Mills theory with one compactified space-time dimension. A deconfinement phase transition occurs for a sufficiently small compactification radius, equivalent to a high temperature in the thermal theory where antiperiodic fermion boundary conditions are applied. Periodic fermion boundary conditions, on the other hand, are related to the Witten index and confinement is expected to persist independently of the length of the compactified dimension. We study this aspect with lattice Monte Carlo simulations for different values of the fermion mass parameter that breaks supersymmetry softly. We find a deconfined region that shrinks when the fermion mass is lowered. Deconfinement takes place between two confined regions at large and small compactification radii, that would correspond to low and high temperatures in the thermal theory. At the smallest fermion masses we find no indication of a deconfinement transition. These results are a first signal for the predicted continuity in the compactification of supersymmetric Yang-Mills theory.

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Recent evidence suggests that successors do not simply inherit their parents’ firm, but have to pay a certain price. Building on institutional logics literature, we explore successors’ family discount expectations, defined as the rebate expected from parents in comparison to nonfamily buyers when assuming control of the firm. We find that family cohesion increases discount expectations, while successors’ fear of failure and family equity stake in the firm decrease discount expectations. Higher education in business or economics weakens These effects. On average, in our study comprised of 16 countries, successors expect a 57% family discount.