Time discounting (delta) and pain anticipation: Experimental evidence

To be published in: Revista Internacional de Sociología (2011), Special Issue on Experimental and Behavioral Economics.

Investigation of High-Speed Combustible Gas Ignited by a Hot Gas Jet Produced in the Shock Tube

The high-speed combustible gas ignited by a hot gas jet, which is induced by shock focusing, was experimentally investigated. By use of the separation mode of shock tube, the test section of a single shock tube is split into two parts, which provide the high-speed flow of combustible gas and pilot flame of hot gas jet, respectively. In the interface of two parts of test sections the flame of jet was formed and spread to the high-speed combustible gas. Two kinds of the ignitions, 3-D "line-flame ignition" and 2-D "plane-flame ignition", were investigated. In the condition of 3-D "line-flame ignition" of combustion, thicker hot gas jet than pure air jet, was observed in schlieren photos. In the condition of 2-D "plane-flame ignition" of combustion, the delay time of ignition and the angle of flame front in schlieren photos were measured, from which the velocity of flame propagation in the high-speed combustible gas is estimated in the range of 30-90m/s and the delay time of ignition is estimated in the range of 0.12-0.29ms.

Performance of a small high-speed liquid jet apparatus

The performance of a small high-speed liquid jet apparatus is described. Water jets of 200m/s to 700m/s have been obtained by firing a deformable lead slug from an air rifle into a stainless steel nozzle containing water sealed with a rubber diaphragm. Nozzle devices of using the impact extrusion (IE) method and cumulation (CU) method are designed to generate jets. The injection sequences are visualized using schlieren photography. The difference between the IE and CU methods in the jet generation is found.

Discontinuous growth mechanisms of mode II crack under high-speed impact conditions

A recoverable plate impact testing technology has been used for studying the growth mechanisms of mode II crack. The results show that interactions of microcracks ahead of a crack tip cause the crack growth unsteadily. Failure mode transitions of materials were observed. Based on the observations, a discontinuous crack growth model was established. Analysis shows that the shear crack grows unsteady as the growth speed is between the Rayleigh wave speed c(R) and the shear wave speed c(s); however, when the growth speed approaches root 2c(s), the crack grows steadily. The transient microcrack growth makes the main crack speed to jump from subsonic to intersonic and the steady growth of all the sub-cracks leads the main crack to grow stably at an intersonic speed.

Consumption and portfolio rules whit stochastic hyperbolic discounting

We extend the classic Merton (1969, 1971) problem that investigates the joint consumption-savings and portfolio-selection problem under capital risk by assuming sophisticated but time-inconsistent agents. We introduce stochastic hyperbolic preferences as in Harris and Laibson (2013) and find closed-form solutions for Merton's optimal consumption and portfolio selection problem in continuous time. We find that the portfolio rule remains identical to the time-consistent solution with power utility and no borrowing constraints. However,the marginal propensity to consume out of wealth is unambiguously greater than the time-consistent, exponential case and,importantly, it is also more responsive to changes in risk. These results suggest that hyperbolic discounting with sophisticated agents offers promise for contributing to explaining important aspects of asset market data.