Daily Labor Supply and Adaptive Reference Points

2021 ◽  
Vol 111 (8) ◽  
pp. 2417-2443
Author(s):  
Neil Thakral ◽  
Linh T. Tô
Keyword(s):  
Labor Supply ◽  
Reference Point ◽  
Structural Model ◽  
Reference Points ◽  
Degree Of Freedom ◽  
Reference Dependence ◽  
Field Evidence ◽  
Dynamic View ◽  
Expected Earnings ◽  
Dependence Models

This paper provides field evidence on how reference points adjust, a degree of freedom in reference-dependence models. Examining this in the context of cabdrivers’ daily labor-supply behavior, we ask how the within-day timing of earnings affects decisions. Drivers work less in response to higher accumulated income, with a strong effect for recent earnings that gradually diminishes for earlier earnings. We estimate a structural model in which drivers work toward a reference point that adjusts to deviations from expected earnings with a lag. This dynamic view of reference dependence reconciles conflicting “neoclassical” and “behavioral” interpretations of evidence on daily labor-supply decisions. (JEL J22, J31, L94)

Deciding When to Quit: Reference-Dependence over Slot Machine Outcomes

2015 ◽  
Vol 105 (5) ◽  
pp. 366-370 ◽  
Author(s):  
Jaimie W. Lien ◽  
Jie Zheng
Keyword(s):  
Loss Aversion ◽  
Reference Point ◽  
Slot Machine ◽  
Status Quo ◽  
Reference Points ◽  
Reference Dependence ◽  
Diminishing Sensitivity

We conduct tests for reference dependent loss aversion using slot machine gamblers' decisions on when to quit playing for a visit to a casino. Evidence for a lagged status-quo reference point is found in the aggregate, while endogenously determined reference points are found when conditioning on betting intensity choices. Significant deviations from the distributions implied by random quitting support the loss aversion and diminishing sensitivity hypotheses.

Cognitive Reflection Effects on Time Discounting

2018 ◽  
Vol 39 (2) ◽  
pp. 99-106 ◽  
Author(s):  
Michał Białek ◽  
Przemysław Sawicki
Keyword(s):  
Individual Differences ◽  
Individual Difference ◽  
Delay Discounting ◽  
Reference Point ◽  
Reference Points ◽  
Cognitive Reflection Test ◽  
Process Information ◽  
Time Discounting ◽  
Cognitive Reflection ◽  
The Way

Abstract. In this work, we investigated individual differences in cognitive reflection effects on delay discounting – a preference for smaller sooner over larger later payoff. People are claimed to prefer more these alternatives they considered first – so-called reference point – over the alternatives they considered later. Cognitive reflection affects the way individuals process information, with less reflective individuals relying predominantly on the first information they consider, thus, being more susceptible to reference points as compared to more reflective individuals. In Experiment 1, we confirmed that individuals who scored high on the Cognitive Reflection Test discount less strongly than less reflective individuals, but we also show that such individuals are less susceptible to imposed reference points. Experiment 2 replicated these findings additionally providing evidence that cognitive reflection predicts discounting strength and (in)dependency to reference points over and above individual difference in numeracy.

On the Seven Position Synthesis of a 5-SS Platform Linkage

1997 ◽  
Vol 123 (1) ◽  
pp. 74-79 ◽  
Author(s):  
Qizheng Liao ◽  
J. Michael McCarthy
Keyword(s):  
Rigid Body ◽  
Reference Point ◽  
Polynomial Solution ◽  
Degree Of Freedom ◽  
Prismatic Joint ◽  
Movement Characteristics ◽  
Position Synthesis ◽  
Freedom Movement

This paper builds on Innocenti’s polynomial solution for the 5-SS platform that generates a one-degree of freedom movement through seven specified spatial positions of a rigid body. We show that his 60×60 resultant can be reduced to one that is 10×10. We then actuate the linkage using a prismatic joint on the sixth leg and determine the trajectory of the reference point through the specified positions. The singularity submanifold of this associated 6-SS platform provides information about the movement characteristics of the 5-SS linkage.

scholarly journals ILRS Reference Point Determination Using Close Range Photogrammetry

2021 ◽  
Vol 11 (6) ◽  
pp. 2785
Author(s):  
Michael Lösler ◽  
Cornelia Eschelbach ◽  
Thomas Klügel ◽  
Stefan Riepl
Keyword(s):  
Reference Point ◽  
Reference Points ◽  
Geodetic Reference System ◽  
Unscented Transformation ◽  
Local Ties ◽  
Close Range Photogrammetry ◽  
Crucial Component ◽  
Space Geodetic Techniques ◽  
Close Range ◽  
Point Determination

A global geodetic reference system (GGRS) is realized by physical points on the Earth’s surface and is referred to as a global geodetic reference frame (GGRF). The GGRF is derived by combining several space geodetic techniques, and the reference points of these techniques are the physical points of such a realization. Due to the weak physical connection between the space geodetic techniques, so-called local ties are introduced to the combination procedure. A local tie is the spatial vector defined between the reference points of two space geodetic techniques. It is derivable by local measurements at multitechnique stations, which operate more than one space geodetic technique. Local ties are a crucial component within the intertechnique combination; therefore, erroneous or outdated vectors affect the global results. In order to reach the ambitious accuracy goal of 1 mm for a global position, the global geodetic observing system (GGOS) aims for strategies to improve local ties, and, thus, the reference point determination procedures. In this contribution, close range photogrammetry is applied for the first time to determine the reference point of a laser telescope used for satellite laser ranging (SLR) at Geodetic Observatory Wettzell (GOW). A measurement campaign using various configurations was performed at the Satellite Observing System Wettzell (SOS-W) to evaluate the achievable accuracy and the measurement effort. The bias of the estimates were studied using an unscented transformation. Biases occur if nonlinear functions are replaced and are solved by linear substitute problems. Moreover, the influence of the chosen stochastic model onto the estimates is studied by means of various dispersion matrices of the observations. It is shown that the resulting standard deviations are two to three times overestimated if stochastic dependencies are neglected.

SOFTENING BRANCHES OF A TWO-DEGREE-OF-FREEDOM SYSTEM INDUCED BY SPATIAL BUCKLING

2006 ◽  
Vol 06 (04) ◽  
pp. 493-512 ◽  
Author(s):  
NOËL CHALLAMEL
Keyword(s):  
Structural Model ◽  
Structural Parameters ◽  
Degree Of Freedom ◽  
Lateral Loading ◽  
Load Parameter ◽  
Imperfection Sensitivity ◽  
Softening Effect ◽  
Out Of Plane ◽  
Secondary Bifurcation ◽  
Two Degree Of Freedom

The aim of this paper is to show how geometrical non-linearity may induce equivalent softening in a simple two-degree-of-freedom spatial elastic system. The generic structural model studied is a generalization of Augusti's spatial model, incorporating lateral loading. This model could be used as a teaching model to understand the softening effect induced by out-of-plane buckling. The lateral loading in the plane of maximal stiffness is considered as the varying load parameter, whereas the vertical load is perceived as a constant parameter. It is shown that a bifurcation occurs at the critical horizontal load. The fundamental path becomes unstable, beyond this critical value. However, two symmetrical bifurcate solutions appear, whose stability depend on the structural parameters value. No secondary bifurcation is observed for this system. The presented system possesses imperfection sensitivity, and imperfection insensitivity, depending on the values of the structural parameters. In any case, for sufficiently large rotations, collapse occurs with unstable softening branches induced by spatial buckling.

An Alternative Perspective on Recruitment Overfishing and Biological Reference Points

1987 ◽  
Vol 44 (4) ◽  
pp. 913-918 ◽  
Author(s):  
M. P. Sissenwine ◽  
J. G. Shepherd
Keyword(s):  
Fisheries Management ◽  
Reference Point ◽  
Reference Points ◽  
Fishing Mortality ◽  
Alternative Perspective ◽  
Conventional Models ◽  
Definition Of ◽  
Yield Per Recruit ◽  
Spawning Biomass

Biological reference points are used to guide fisheries management decisions. The reference points most often used are expressed in terms of fishing mortality rate (F). Fmsy relates to the maximization of sustainable yield. In principle, it is a most useful reference point, but in practice it is difficult to estimate. Fmax and F0.1 relate to certain levels of yield per recruit and are easily estimated, but they ignore conservation of the resource. Recruitment overfishing has usually been understood to occur when a population has been fished down to a point where recruitment is substantially reduced or fails. It has not been used as a basis for a biological reference point because the definition is vague and cannot be readily related to fishing mortality. Levels of spawning biomass below which recruitment seems to be reduced have been used, but their determination from available data is usually difficult and controversial. We propose an alternative definition of recruitment overfishing in terms of the level of fishing pressure that reduces the spawning biomass of a year class over its lifetime below the spawning biomass of its parents on average. Conventional models and types of data can be used to determine this level of F, denoted as Frep, which clearly relates to the replacement of spawning biomass and thus to sustainability of a population and yield in the long term.

scholarly journals Albanian Aorist and Time Reference Points

2020 ◽  
Vol 10 (3) ◽  
pp. 115
Author(s):  
Muhamet Reçica ◽  
Naser Pajaziti
Keyword(s):  
Reference Point ◽  
Reference Points ◽  
The Other ◽  
Temporal Relations ◽  
Time Dimension ◽  
Relative Time ◽  
Absolute Time ◽  
Temporal System ◽  
The Absolute

Topics related to the structure of the temporal system of Albanian language always give opportunities for new discussions to deal with certain aspects related to various forms of this system, and one of them is the aorist, as a tense containing many semantic, temporal, aspectual, stylistic values, etc. The relationships that exist between the verbal tenses in this system within the absolute time-relative time dimension, which relate to the independent or dependent use of temporal forms against one another in different discoursing contexts, make up an interpretation-based approach to interest. Hence, the essential objective of this paper will be specifically the relations of the Albanian aorist to the other verbal forms, always observed with a time reference point, to illuminate the character of these purely temporal relations against each other under all circumstances of the actions that take place and are displayed by verbal forms in different contexts, relying on the corpus of examined materials.

Aspirations or survival: decision modeling and the effect of focus of attention in risky choice

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Guy Moshe Ross
Keyword(s):  
Risk Taking ◽  
Reference Point ◽  
Effect Study ◽  
Focus Of Attention ◽  
Risky Choice ◽  
Reference Points ◽  
Aspiration Level ◽  
Content Type ◽  
Randomized Controlled Studies ◽  
Risky Option

Purpose This research aims to test focus of attention effects in risky choice. Design/methodology/approach As opposed to traditional aspiration-level theory, the shifting-focus concept introduces a second reference point, the survival point, and assumes a shifting focus of attention between the two reference points. In this conceptualization, risk-taking is a function of focus of attention on the survival reference point or the aspiration-level and resources relative to the two reference points. Four randomized controlled studies tested this concept. Findings Study 1 showed that with aspiration focus the probability of choosing a risky option was higher below an aspiration-level than above it. With survival focus, the effect was reversed. Study 2 found that close to the survival reference point, the probability of choosing a risky option was higher with aspiration focus relative to survival focus. Study 3 revealed that with scarce resources the risk taken was higher with aspiration focus than with survival focus, and the scarcer the resources the stronger was the effect. Study 4 demonstrated that with aspiration focus the risk taken was higher below an aspiration-level than above it. With survival focus the effect was reversed. Originality/value In addition to providing support for the validity of the shifting focus concept, this paper elaborates on the theoretical model by providing evidence for moderation effects. Risk-taking was affected by a focus of attention on one of two reference points, and the effect was moderated by resources relative to the two focal points. An advanced model is proposed to capture the effects of focus of attention and resources on risk-taking behavior.

Sign in / Sign up

Export Citation Format

Share Document