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Ian Crawford

Publications and source records attributed to Ian Crawford.

6 recordsLinked to original sources

Observable Consequences of Mental Accounting

We derive necessary and sufficient nonparametric conditions for several models of mental accounting. The paper characterises pure mental accounting, separable accounts, and labelled income, and compares these boundedly rational models with two rational multi-stage budgeting benchmarks. The resulting Afriat-style conditions make the observable implications of mental accounting explicit and refutable. In this sense, mental accounting is treated not as a loose description of behaviour, but as a formally refutable hypothesis about the organisation of consumption.

econ.TH

The Empirical Content of Revealed Preference in High Dimensions

We examine how the empirical content of revealed preference theory depends on the dimensionality of the choice environment. While higher-dimensional choice problems may appear more demanding, we show that revealed preference restrictions become less informative. Using Selten's Area measure, we establish that for any fixed number of observations, the empirical content of GARP converges to zero exponentially fast in the number of goods. We provide complementary proofs based on revealed preference graphs and the Afriat inequalities, and show in simulations calibrated to scanner data that the effect is quantitatively large. We also evaluate potential responses in observational and experimental settings and find that, while these can slow the rate, they do not eliminate this loss of empirical content.

econ.TH

Does Anxiety Improve Economic Decision-Making?

We study the associations between everyday economic decision-making quality and people's emotional states. Using high-frequency, highly disaggregated consumer "scanner" data, we show that the cost of poor decision-making is substantial, on average equal to around half of day-to-day consumption budgets. While material circumstances help explain decision-making quality, how people feel about those circumstances is equally important. Contrary to evidence that stress and worry impair performance in settings where distraction is costly, we find these same feelings are associated with improved decision-making for frequently made consumption choices. This is consistent with worry increasing attentiveness to decisions within households' locus of control.

econ.GN

X-ray Studies of Planetary Systems: A 2020 Decadal Survey White Paper

Whether it is fluorescence emission from asteroids and moons, solar wind charge exchange from comets, exospheric escape from Mars, pion reactions on Venus, sprite lighting on Saturn, or the Io plasma torus in the Jovian magnetosphere, the Solar System is surprisingly rich and diverse in X-ray emitting objects. The compositions of diverse planetary bodies are of fundamental interest to planetary science, providing clues to the formation and evolutionary history of the target bodies and the solar system as a whole. X-ray fluorescence (XRF) lines, triggered either by solar X-rays or energetic ions, are intrinsic to atomic energy levels and carry an unambiguous signature of the elemental composition of the emitting bodies. All remote-sensing XRF spectrometers used so far on planetary orbiters have been collimated instruments, with limited achievable spatial resolution, and many have used archaic X-ray detectors with poor energy resolution. Focusing X-ray optics provide true spectroscopic imaging and are used widely in astrophysics missions, but until now their mass and volume have been too large for resource-limited in-situ planetary missions. Recent advances in X-ray instrumentation such as the Micro-Pore Optics used on the BepiColombo X-ray instrument (Fraser et al., 2010), Miniature X-ray Optics (Hong et al., 2016) and highly radiation tolerant CMOS X-ray sensors (e.g., Kenter et al., 2012) enable compact, yet powerful, truly focusing X-ray Imaging Spectrometers. Such instruments will enable compositional measurements of planetary bodies with much better spatial resolution and thus open a large new discovery space in planetary science, greatly enhancing our understanding of the nature and origin of diverse planetary bodies. Here, we discuss many examples of the power of XRF to address key science questions across the solar system.

astro-ph.IM

Widening Perspectives: The Intellectual and Social Benefits of Astrobiology, Big History, and the Exploration of Space

Astrobiology is the field of science devoted to searching for life elsewhere in the Universe. It is inherently interdisciplinary, integrating results from multiple fields of science, and in this respect has strong synergies with 'big history'. I argue that big history and astrobiology are both acting to widen human perspectives in intellectually and socially beneficial directions, especially by enhancing public awareness of cosmic and evolutionary worldviews. I will further argue that these perspectives have important implications for the social and political organisation of humanity, including the eventual political unification of our planet. Astrobiology and big history are also concerned with the future of humanity, and I will argue that this future will be culturally and intellectually enriched if it includes the exploration of the universe around us.

physics.pop-ph

ASIME 2018 White Paper. In-Space Utilisation of Asteroids: Asteroid Composition -- Answers to Questions from the Asteroid Miners

In keeping with the Luxembourg government's initiative to support the future use of space resources, ASIME 2018 was held in Belval, Luxembourg on April 16-17, 2018. The goal of ASIME 2018: Asteroid Intersections with Mine Engineering, was to focus on asteroid composition for advancing the asteroid in-space resource utilisation domain. What do we know about asteroid composition from remote-sensing observations? What are the potential caveats in the interpretation of Earth-based spectral observations? What are the next steps to improve our knowledge on asteroid composition by means of ground-based and space-based observations and asteroid rendez-vous and sample return missions? How can asteroid mining companies use this knowledge? ASIME 2018 was a two-day workshop of almost 70 scientists and engineers in the context of the engineering needs of space missions with in-space asteroid utilisation. The 21 Questions from the asteroid mining companies were sorted into the four asteroid science themes: 1) Potential Targets, 2) Asteroid-Meteorite Links, 3) In-Situ Measurements and 4) Laboratory Measurements. The Answers to those Questions were provided by the scientists with their conference presentations and collected by A. Graps or edited directly into an open-access collaborative Google document or inserted by A. Graps using additional reference materials. During the ASIME 2018, first day and second day Wrap-Ups, the answers to the questions were discussed further. New readers to the asteroid mining topic may find the Conversation boxes and the Mission Design discussions especially interesting.

astro-ph.EP