We provide a concise exposition of theoretical results that appear in modeling default time as a random time, we study in details the invariance martingale property and we establish a representation theorem which leads, in a complete market setting, to the hedging portfolio of a vulnerable claim. Our main result is that, to hedge a defaultable claim one has to invest the value of this contingen...

We use the contingent valuation (CV) method to estimate mothers' willingness to pay (WTP) to protect themselves and their children from suffering a minor illness-a cold-in Taiwan. WTP is specified as a hedonic function of the duration and severity of the cold (measured alternatively by symptoms experienced and the Quality of Well-Being (QWB) index) and of respondents' socioeconomic characterist...

The relation between the contingent negative variation (CNV) and time estimation is evaluated in terms of temporal accumulation and preparation processes. The conclusion is that the CNV as measured from the electroencephalogram (EEG) recorded at fronto-central and parietal-central areas is not a direct reflection of the underlying interval timing mechanism(s), but more likely represents a time-...

Low- and high-prejudiced individuals exhibited differential cortical and behavioral responses to the pending and actual evaluation of emotional in- and out-group faces. Participants viewed warning stimuli indicating the subsequent presentation of an angry or happy African-American or Caucasian face. Upon presentation of the face, participants judged whether they would enjoy working with the ind...

Past research has demonstrated that pictorial preference assessments can predict subsequent reinforcement effects for individuals with developmental disabilities only when access to the selected stimulus is provided contingent on a pictorial selection. The purpose of the present investigation was to assess more comprehensively the feasibility of the pictorial format with children with developme...

AIMS This study examined whether voucher-based reinforcement therapy (VBRT) contingent upon smoking abstinence during pregnancy is an effective method for decreasing maternal smoking during pregnancy and improving fetal growth. DESIGN, SETTING AND PARTICIPANTS A two-condition, parallel-groups, randomized controlled trial was conducted in a university-based research clinic. A total of 82 smoke...

Two studies examined the impact of performance-contingent rewards on perceived autonomy, competence, and intrinsic motivation. Autonomy was measured in terms of both decisional and affective reports. The first study revealed an undermining effect of performance-contingent rewards on affective reports of autonomy among university students, and an increase in reports of competence. Decisional aut...

We investigated whether music experts and laypersons differ with regard to aesthetic evaluation of musical sequences. 16 music experts and 16 music laypersons judged the aesthetic value (beauty judgment task) as well as the harmonic correctness (correctness judgment task) of chord sequences. The sequences consisted of five chords with the final chord sounding congruous, ambiguous or incongruous...