Milton Friedman argued that irrational traders will consistently lose money, won’t survive and, therefore, cannot influence long run equilibrium asset prices. Since his work, survival and price impact have been assumed to be the same. In this paper, we demonstrate that survival and price impact are two independent concepts. The price impact of irrational traders does not rely on their long-run ...

Test question has already become an important factor to restrict the development of integrated circuit industry. A new test data compression scheme, namely irrational numbers stored (INS), is presented. To achieve the goal of compress test data efficiently, test data is converted into floating-point numbers, stored in the form of irrational numbers. The algorithm of converting floating-point nu...

We apply the theory of disconjugate linear recurrence relations to the study of irrational quantities in number theory. In particular, we show that there exists a four-term real linear recurrence relation whose solutions allow us to produce a tractable equivalent criterion for the quadratic irrationality of ζ(3), where ζ is the classic Zeta function of Riemann or, for that matter, the quadratic...

We consider various ways to represent irrational numbers by subrecursive functions. An irrational number can be represented by its base-b expansion; by its base-b sum approximation from below; and by its base-b sum approximation from above. Let S be a class of subrecursive functions, e.g., the class the primitive recursive functions. The set of irrational numbers that can be obtained by functio...

It has recently been observed in numerical simulations that the phases of two coupled nonlinear oscillators can become locked into an irrational ratio, exhibiting the phenomenon of irrational phase synchronization (IPS) [Phys. Rev. E 69, 056228 (2004)]. Here, using two coupled nonidentical periodic mechanical metronomes, we revisit this interesting phenomenon through experimental studies. It is...

moving away from home always lead most university students to feel homesick that negatively impacts their academic performance and excessive acculturative stress can contribute to eating and sleeping problems, low energy and headaches. severe homesickness is classified as an adjustment disorder with mixed anxiety and depressed mood that in some critical cases leads to suicide. to consider this ...

Cooperation in a single play prisoner’s dilemma is irrational. We consider a simple model where this irrational behavior will evolve, via the evolution of cooperative preferences. These players cooperate rationally, given their preferences and common knowledge, but their preferences distort – fail to track their interests in – their situation. Generalizing, we show that distortions are predicta...

Athanasios Orphanides and John C. Williams’ excellent conference paper, “Inflation Scares and Forecast-Based Monetary Policy,” contributes importantly to the new and rapidly growing branch of the literature on bounded rationality and learning in macroeconomics. Their paper, like many others, derives interesting and useful theoretical results that show how the introduction of bounded rationality...

In 1914 Constantin Carathéodory gave his definition of a measurable set, a definition that is crucial in the general theory of integration. This is because a “primitive” notion of area or measure, on a smaller family of sets, can be extended to the larger family of measurable sets, and it is this larger family that has the necessary properties for a natural and complete theory of integration. T...