I explore the origins of the unphysical predictions from rooted staggered fermion algorithms. Before rooting, the exact chiral symmetry of staggered fermions is a flavored symmetry among the four "tastes." The rooting procedure averages over tastes of different chiralities. This averaging forbids the appearance of the correct 't Hooft vertex for the target theory.

Abstract We consider a decision maker with randomly evolving tastes who faces dynamic situations that involve intertemporal tradeoffs, such as those in consumption savings problems. axiomatize recursive representation of choice features uncertain utilities, which evolve according to subjective Markov process. The parameters the representation, are process governing evolution and discount factor...

This paper provides a novel method for identifying informed institutional trading by conditioning on investors’ tastes. Given an information signal about a stock, an investor’s tastes for certain characteristics of that stock can influence his decision to trade. Thus, trades which deviate from an investor’s tastes are more likely to reflect information. I test this hypothesis with respect to in...