Related papers: Heat and Economic Preferences
Economists modeled self-control problems in decisions of people with the time-inconsistence preferences model. They argued that the source of self-control problems could be uncertainty and temptation. This paper uses an experimental test…
The cost of the impacts of climate change have already proven to be larger than previously believed. Understanding the costs and benefits of adapting to the changing climate is necessary to make targeted and appropriate investment…
Policy Planning have the potential to contribute to the strategic development and economic diversification of developing countries even without considerable structural changes. In this study, we analyzed a set of human-oriented dimensions…
In recent years, the frequency of extreme weather events on Earth has increased significantly. This phenomenon is driven by the intensification of the greenhouse effect caused by anthropogenic activities, leading to temperature variations…
The effects of temperature on various aspects of neural activity from single cell to neural circuit level have long been known. However, how temperature affects the system-level of activity typical of experiments using non-invasive imaging…
In coming years residential consumers will face real-time electricity tariffs with energy prices varying day to day, and effective energy saving will require automation - a recommender system, which learns consumer's preferences from her…
This paper describes how to analyze the influence of Earth system variables on the errors when providing temperature forecasts. The initial framework to get the data has been based on previous research work, which resulted in a very…
In many countries financial service providers have to elicit their customers risk preferences, when offering products and services. For instance, in the Netherlands pension funds will be legally obliged to factor in their clients risk…
Extreme heat suppresses urban activity, but its effects need not be uniform across climates or across the day. Using data on activity at points of interest in 20 cities spanning temperate, tropical, and arid environments, we show that hot…
People often deviate from expected utility theory when making risky and intertemporal choices. While the effects of probabilistic risk and time delay have been extensively studied in isolation, their interplay and underlying theoretical…
This paper surveys the empirical literature of inflation targeting. The main findings from our review are the following: there is robust empirical evidence that larger and more developed countries are more likely to adopt the IT regime; the…
In economics literature, it is accepted that all people are rational and they try to maximize their utilities as possible as they can. In addition, economic theories are formed with the assumptions not suitable to real life. For instance,…
Data is scaling exponentially in fields ranging from genomics to neuroscience to economics. A central question is: can modern machine learning methods be applied to construct predictive models of natural systems like cells and brains based…
To make informed decisions in natural environments that change over time, humans must update their beliefs as new observations are gathered. Studies exploring human inference as a dynamical process that unfolds in time have focused on…
Decisions in a group often result in imitation and aggregation, which are enhanced in panic, dangerous, stressful or negative situations. Current explanations of this enhancement are restricted to particular contexts, such as anti-predatory…
The role of specific cognitive processes in deviations from constant discounting in intertemporal choice is not well understood. We evaluated decreased impatience in intertemporal choice tasks independent of discounting rate and…
Extensive research shows that consumers are generally averse to price discrimination. However, instruments of differential pricing can benefit consumer surplus and alleviate inequity through targeted price discounts. This paper examines how…
Economic model predictive control has been proposed as a means for solving the unit loading and unit allocation problem in multi-chiller cooling plants. The adjective economic stems from the use of financial cost due to electricity…
Reinforcement Learning has demonstrated substantial improvements in the reasoning abilities of Large Language Models (LLMs), exhibiting significant applicability across various domains. Recent research has identified that tokens within LLMs…
Growth of intermittent renewable energy and climate change make it increasingly difficult to manage electricity demand variability. Centralized storage can help but is costly. An alternative is to shift demand. Cooling and heating demands…