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Anticipated reward magnitude and probability comprise dual components of expected value (EV), a cornerstone of economic and psychological theory. However, the neural mechanisms that compute EV have not been characterized. Using event-related functional magnetic resonance imaging, we examined neural activation as subjects anticipated monetary gains and(More)
Brown Bag series for helpful comments. The views expressed here are the authors' and do not necessarily represent the views of the Federal Reserve Bank of Atlanta or the Federal Reserve System. Abstract Morningstar is the leading information intermediary in the mutual fund marketplace, and is widely believed to influence fund investors. The discreteness of(More)
ii Acknowledgements The authors wish to acknowledge the following for their contributions to this report: Mimi Sogutlugi (CARB) and Jonathan Taylor (CARB) for running the emission computer model-EMFAC; (CARB) for review of the report; Reza Mahdavi (CARB) for providing economic estimates, and Mary Tyree (UCSD), Martha Coakley (UCSD), and Josh Schriffin(More)
We survey 396 portfolio managers about the structure of their compensation. Overall, compensation packages are more likely to be " subjective and discretionary " than " objective and formula-based. " Firm success-factors such as firm profitability have more impact on bonuses than client success factors like investment performance. Differences in the(More)
contractors, and subcontractors make no warrant, express or implied, and assume no legal liability for the information in this report; nor does any party represent that the uses of this information will not infringe upon privately owned rights. This report has not been approved or disapproved by the California Energy Commission or Cal/EPA, nor has the(More)
There is currently no suitable kinematic system for a large-scale prospective trial assessing risk factors of musculoskeletal disorders. A practical kinematic system is described which involves the use of a single low-cost depth-sensing camera for the real-time measurement of 3-dimensional linear and angular pelvic and trunk range-of-movement (ROM). The(More)
In this paper we examine for the first time the role of agents in the private financing market. We show that private financings with agent involvement are larger, attract a greater number of investors, and investors that are of higher quality. We also find that the investor base and proceeds raised in financings is geographically broader when an agent is(More)
he is now a senior fellow. Taylor's academic fields of expertise are macroeconomics, monetary economics, and international economics. He is known for his research on the foundations of modern monetary theory and policy, which has been applied by central banks and financialmarket analysts around the world. He has an active interest in public policy.(More)