The endowment effect has been widely documented. Recent models of reference-dependent preferences indicate that expectations play a prominent role in the presence of the phenomenon. A subset of such expectations-based models predicts an endowment effect for risk when reference points change from certain to stochastic. In two purposefully simple risk preference experiments, eliminating often-dis...

Organizations have found that functional approach to business destroys flexibility and agility by gaining experience over the time. The main weakness with Task-based organizations is that they can hardly act flexibly and adapt themselves to the changing environment. In today’s' dynamic and competitive business world, organizations focus significantly on managing and improving their business pro...

This paper provides a novel hierarchical control for VSI-based microgrids. The advantage of the provided control scheme is to maintain the frequency and voltage stability and load sharing against large-signal disturbances. A hierarchical control, consisting of three levels, is described. A new control loop based on PI controller, is presented. The new control loop has a great impact on increasi...

In this paper, a numerical study has been carried out for coupled mass, momentum and heat transfer in the field under effects of natural convection. For this purpose, the unsteady incompressible Navier-Stokes equations with the terms of the Buoyancy forces (due to temperature gradients), energy conservation and concentration (mass) transfer equations have been simultaneously solved using approp...

Classification of objects is an important area in a variety of fields and applications. Many different methods are available to make a decision in those cases. The knearest neighbor rule (k-NN) is a well-known nonparametric decision procedure. Classification rules based on the k-NN have already been proposed and applied in diverse substantive areas. The editing k-NN proposed by Wilson would be ...

Experimental and empirical evidence shows that the utility an individual derives from a certain state depends on the reference state she compares it to. According to economic theory, this reference state is determined by the past, present and future outcomes of either the individual herself or her reference group. The experiment described in this paper suggests that, in addition, reference stat...

Experimental and empirical evidence shows that the utility an individual derives from a certain state depends on the reference state she compares it to. According to economic theory, the reference state is determined by past, present and future outcomes of either the individual herself or her reference group. The experiment described in this paper suggests that, in addition, reference states de...