Regulation and the Management of Expectations - Rating Agencies Revisited

In the aftermath of the 2008 crisis, scholars have begun to revise their conceptions of how market participants interact. While the traditional “rationalist optic” posits market participants who are able to process decisionrelevant information and thereby transform uncertainty into quantifiable risks, the increasingly popular “sociological optic” stresses the role of uncertainty in expectation formation and social conventions for creating confidence in markets. Applications of the sociological optic to concrete regulatory problems are still limited. By subjecting both optics to the same regulatory problem—the role of credit rating agencies (CRAs) and their ratings in capital markets—this paper provides insights into whether the sociological optic offers advice to tackle concrete regulatory problems and discusses the potential of the sociological optic in complementing the rationalist optic. The empirical application suggests that the sociological optic is not only able to improve our understanding of the role of CRAs and their ratings, but also to provide solutions complementary to those posited by the rationalist optic.

Entwicklung und Validierung einer Skala der Bereitschaft zu verzeihen (SBV)

Verzeihen dient der Bewältigung von Kränkungen und zwischenmenschlichen Konflikten. Es werden Definitionen und Operationalisierungen aus dem englischen Sprachraum vorgestellt. Die Entwicklung eines deutschsprachigen szenarienbasierten Instruments zur Erhebung der Bereitschaft zu verzeihen wird beschrieben. Es wird eine Differenzierung des Konstruktes in zwei Komponenten vorgeschlagen: (a) die Bereitschaft, anderen Menschen zu verzeihen, wenn diese ihre Tat bedauern, (b) die Bereitschaft, anderen Menschen zu verzeihen, wenn diese ihre Tat nicht bedauern. Die Messeigenschaften der neu entwickelten Skala wurden in fünf Studien an insgesamt 1824 Probanden untersucht. Die Ergebnisse zeigen, dass das Instrument gute psychometrische Eigenschaften besitzt. Die theoretische Differenzierung des Konstrukts wird empirisch bestätigt. Hinweise auf die Konstruktvalidität der Skala ergeben sich aus Zusammenhängen mit theoretisch einschlägigen Referenzkonstrukten: der habituellen Ärgerneigung, der Wahrnehmung und Klarheit über eigene und fremde Gefühle, positiver und negativer Affektivität, den fünf Persönlichkeitsfaktoren und sozialer Erwünschtheit. Für die Konstruktvalidität der Skala sprechen ferner konvergente Korrelationen mit anderen Maßen der Bereitschaft zu verzeihen.

Body image rating scales to assess obesity

Obesity prevalence in the U.S. has increased during the last three decades with major impact on public health. Screening for obesity in a population with unknown weight status can be time- and resource-consuming, but the information is valuable for prioritizing and allocating scarce resources. The challenge remains to properly assess obesity with the available methods. Body Image Rating Scales (BIRS) have initially been developed to assess body image disturbances, but also seem useful as an alternative method in assessing obesity prevalence. Several different BIRS exists. In this project I reviewed the literature that exists regarding the use of BIRS, and its advantages and limitations for the assessment of obesity status with regards to BMI. The result yielded nine publications that examined eight different scales and their correlation with BMI, ranging from r=.59 for self-reported BMI to r=.94 for measured BMI. One concern is the lack of standardization of this method to assess obesity, given the range of different scales. While many methods for obesity assessment are available, the simplicity, ease of use and cost-effectiveness of BIRS make it very appealing. BIRS remain a potentially attractive option to assess the weight status of a large population with minimal requirements in assets and time, especially in situations where measuring instruments are not available, or when height or weight could not be recalled.^

Validierung einer Skala zur Messung der Reizsensibilität von Schülerinnen und Schülern

In der Bildungsforschung besteht derzeit eine Forschungslücke hinsichtlich interindividueller Unterschiede in der Reizsensibilität. Dieses Temperamentsmerkmal ist durch Besonderheiten in der Aufmerksamkeit auf innere und äußere Reize gekennzeichnet und daher in Lern- und Leistungssituationen von Bedeutung. Die Entwicklung einer für Schüler geeigneten Reizsensibilitätsskala ist ein erster Schritt zur Überbrückung der Forschungslücke. Vierhundertsechzig Haupt- und Realschüler bearbeiteten die neue Reizsensibilitätsskala sowie Validierungsmaße (z.B. schulisches und wissenschaftliches Interesse, Selbstwirksamkeitserwartung). Konfirmatorische Faktorenanalysen bestätigten die Aufteilung der Reizsensibilität in die zwei korrelierten Faktoren Reizoffenheit und Überreizbarkeit. Daneben verweisen theoretisch sinnvolle Zusammenhänge der Subskalen Reizoffenheit und Überreizbarkeit mit den Validierungskriterien auf die Validität des neuen Messinstruments.

Modeling the evolution of item rating networks using time-domain preferential attachment

The understanding of the structure and dynamics of the intricate network of connections among people that consumes products through Internet appears as an extremely useful asset in order to study emergent properties related to social behavior. This knowledge could be useful, for example, to improve the performance of personal recommendation algorithms. In this contribution, we analyzed five-year records of movie-rating transactions provided by Netflix, a movie rental platform where users rate movies from an online catalog. This dataset can be studied as a bipartite user-item network whose structure evolves in time. Even though several topological properties from subsets of this bipartite network have been reported with a model that combines random and preferential attachment mechanisms [Beguerisse Díaz et al., 2010], there are still many aspects worth to be explored, as they are connected to relevant phenomena underlying the evolution of the network. In this work, we test the hypothesis that bursty human behavior is essential in order to describe how a bipartite user-item network evolves in time. To that end, we propose a novel model that combines, for user nodes, a network growth prescription based on a preferential attachment mechanism acting not only in the topological domain (i.e. based on node degrees) but also in time domain. In the case of items, the model mixes degree preferential attachment and random selection. With these ingredients, the model is not only able to reproduce the asymptotic degree distribution, but also shows an excellent agreement with the Netflix data in several time-dependent topological properties.

Design of a twin capacitive load and its application to the outdoor rating of photovoltaic modules

This paper describes the design of an original twin capacitive load that is able of tracing simultaneously the I?V characteristics of two photovoltaic modules. Besides, an example of the application of this dual system to the outdoor rating of photovoltaic modules is presented, whose results have shown a good degree of repeatability.

SOPHIA CPV module round robin: power rating at CSOC

Within the European funded project SOPHIA, a Round Robin measurement on CPV module has been initiated. Seven different test laboratories located in Europe between 48°N and 37°N perform measurements of four SOITEC CPV modules. The modules are electrically characterized with different measurement equipment under various climatic conditions. One pyrheliometer and one spectral sensor based on component cells are shipped together with the modules. This ensures that the irradiance and spectrum, two factors with high impact on CPV module performance, are measured with the identical equipment at each site. The round robin activity is performed in closeco-operation with the IEC TC82 WG7 power rating team in order to support the work on the CPV module power rating draft standard 62670-3. The resultingrated module power outputs at CSOC (Concentrator Standard Operating Conditions) are compared amongst the power rating methods and amongst the test labs. In this manner, a deviation in rated power output between different test labs and power rating methods is determined.

Determination of spectral variations by means of component cells useful for CPV rating and design

A methodology is presented to determine both the short-term and the long-term influence of the spectral variations on the performance of Multi-Junction (MJ) solar cells and Concentrating "This is the peer reviewed version of the following article: R. Núñez, C. Domínguez, S. Askins, M. Victoria, R. Herrero, I. Antón, and G. Sala, “Determination of spectral variations by means of component cells useful for CPV rating and design,” Prog. Photovolt: Res. Appl., 2015., which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1002/pip.2715/full. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving [http://olabout.wiley.com/WileyCDA/Section/id-820227.html#terms]." Photovoltaic (CPV) modules. Component cells with the same optical behavior as MJ solar cells are used to characterize the spectrum. A set of parameters, namely Spectral Matching Ratios (SMRs), is used to characterize spectrally a particular Direct Normal Irradiance (DNI) by comparison to the reference spectrum (AM1.5D-ASTM-G173-03). Furthermore, the spectrally corrected DNI for a given MJ solar cell technology is defined providing a way to estimate the losses associated to the spectral variations. The last section analyzes how the spectrum evolves throughout a year in a given place and the set of SMRs representative for that location are calculated. This information can be used to maximize the energy harvested by the MJ solar cell throughout the year. As an example, three years of data recorded in Madrid shows that losses lower than 5% are expected due to current mismatch for state-of-the-art MJ solar cells.

SOPHIA CPV module round robin: power rating at CSOC

In the frame of the European project SOPHIA a concentrator photovoltaic (CPV) module measurement round robin has been initiated. The round robin includes measurements of four CPV modules at seven different test laboratories located in Europe. IV curves of the modules are measured with different measurement equipment under various climatic conditions. The aim of this activity is to perform at each site a rating of the modules at concentrator standard operating conditions CSOC according to IEC 62670-1. The outcome of the round robin is intended for direct feedback to the current draft standard IEC 62670-3 “Concentrator Photovoltaic (CPV) Performance Testing - Performance Measurements and Power Rating”. The paper discusses initial results from the first three partners that have already finished the measurements up to now.