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Risk and Return Considerations in the Weakest Link 1. Introduction
Risk and Return Considerations in The Weakest Link B. Ross Barmish and Nigel Boston Electrical and Computer Engineering Department University of Wisconsin Madison, WI 53706 Abstract The television game show, The Weakest Link, involves contestants making a sequence of decisions over time. Given the rules of the game and the process for accrual of payoffs over time, a number of authors have recognized that this show serves as a laboratory for assessment of human decision-making. To this end, by comparing theoretically derived gaming strategies with those actually used by the contestants, conclusions are drawn regarding the extent to which players’ decisions are rational and consistent with the pursuit of optimality. The first main objective of this paper is to provide arguments that the models used in the literature to date may result in an erroneous impression of the extent to which contestants’ decisions deviate from the optimum. More specifically, we first point out that previous authors, while concentrating on maximization of the expected value of the return, totally neglect the risk component; i.e., the expected return is considered while its variance is not. To this end, we expand the analysis of previous authors to include both risk and return and a number of other factors: mixing of strategies and so- called end effects due to fixed round length. It is seen that many strategies, discounted by previous authors as being sub-optimal in terms of maximization of expected return, may in fact be consistent with rational decision-making. That is, such strategies satisfy a certain “efficiency” requirement in the risk-return plane. -
Weakest Link
Weakest Link The use of a weak element that will fail in order to protect other elements in the system from damage. It is said that a chain is only as strong as its weakest link. This suggests that the weakest link in a chain is also the least valuable and most expendable link—a liability to the system that should be reinforced, replaced, or removed. However, the weakest element in a system can be used to protect other more important elements, essentially making the weakest link one of the most important elements in the system. For example, electrical circuits are protected by fuses, which are designed to fail so that a power surge doesn’t damage the circuit. The fuse is the weakest link in the system. As such, the fuse is also the most valuable link in the system. The weakest link in a system can function in one of two ways: it can fail and passively minimize damage, or it can fail and activate additional systems that actively minimize damage. An example of a passive design is the use of fuses in electrical circuits as described above. An example of an active design is the use of automatic sprinklers in a building. Sprinkler systems are typically activated by components that fail (e.g., liquid in a glass cell that expands to break the glass when heated), which then activate the release of the water. Applying the weakest link principle involves several steps: identify a failure condition; identify or define the weakest link in the system for that failure condition; further weaken the weakest link and strengthen the other links as necessary to address the failure condition; and ensure that the weakest link will only fail under the appropriate, predefined failure conditions. -
The Weakest Link: the Consistent Refusal to Consider Far-Removed Indirect Effects of the Expansion of Lng Terminals
RHODES FINAL 11/16/17 THE WEAKEST LINK: THE CONSISTENT REFUSAL TO CONSIDER FAR-REMOVED INDIRECT EFFECTS OF THE EXPANSION OF LNG TERMINALS Synopsis: The D.C. Circuit has recently ruled on numerous cases challenging the Federal Energy Regulatory Commission’s (FERC) approval of the expansion of liquefied natural gas (LNG) terminals to allow both export and import activity. Much of its analysis has focused on the delegation of authority between the De- partment of Energy (DOE) and FERC under the Natural Gas Act (NGA). Envi- ronmental groups raised challenges to the Environmental Assessment (EA) com- pleted by FERC in each case, arguing that FERC failed to adequately consider direct and indirect effects of the expansion. The indirect effects would arise via a chain of events ultimately depending on the increased production and consump- tion of LNG. In each case, the Court has pointed out that FERC only has authority to regulate the expansion of the facilities themselves. Without approval by the DOE to allow the additional import or export at the individual terminal at issue, FERC’s approval can cause no indirect effects. Moreover, the Court has reiterated multiple times that since FERC’s approval does not cause these indirect effects, but the DOE’s approval does, these suits should have been brought against the DOE. In this note, I discuss one of these cases, EarthReports v. FERC, at length, as well as incorporate portions of other similar cases to come to an understanding regarding what steps potential challengers to similar approvals should take. If challengers hope to convince a court, particularly the D.C. -
Zastosowanie Dwuwymiarowego Rozkładu Prawdopodobieństwa Inicjacji Pęknięć W Obliczeniach Trwałości Zmęczeniowej
acta mechanica et automatica, vol.2 no.4 (2008) ZASTOSOWANIE DWUWYMIAROWEGO ROZKŁADU PRAWDOPODOBIEŃSTWA INICJACJI PĘKNIĘĆ W OBLICZENIACH TRWAŁOŚCI ZMĘCZENIOWEJ Aleksander KAROLCZUK*, Jacek SŁOWIK** * Katedra Mechaniki i Podstaw Konstrukcji Maszyn, Wydział Mechaniczny, Politechnika Opolska, ul. Mikołajczyka 5, 45-271 Opole ** Instytut Lotnictwa, Aleja Krakowska 110/114, 02-256 Warszawa [email protected], [email protected] Streszczenie: W pracy przedstawiono metodę obliczania trwałości zmęczeniowej elementów o niejednorodnych rozkładach naprężeń zmiennych bazującą na dwuwymiarowym rozkładzie prawdopodobieństwa zniszczenia elementu. Zaproponowany dwuwymiarowy rozkład inicjacji pęknięcia zmęczeniowego wykorzystuje standardowe charakterystyki zmęczeniowe i pozwala na obliczenia trwałości zmęczeniowej dla dowolnego poziomu prawdopodobieństwa. Metoda została przeana- lizowana przy wykorzystaniu badań zmęczeniowy próbek wykonanych z trzech stali konstrukcyjnych o różnej geometrii. 1. WPROWADZENIE 2. OPIS METODY Złożone kształty elementów maszyn i konstrukcji oraz Koncepcja najsłabszego ogniwa, która leży u podstaw często sposób obciążenia, generuje powstawanie obszarów proponowanej metody oraz teorii Weibulla została sformu- w materiale o niejednorodnym stopniu uszkodzenia zmę- łowana już w latach dwudziestych XX wieku. Podstawowe czeniowego. Badania doświadczalne wykazują, że trwało- założenia koncepcji najsłabszego ogniwa to: (i) dany ści takich elementów wyznaczone na podstawie maksymal- element konstrukcyjny zawiera statystycznie rozmieszczo- -
Games We Play on Singapore Telly
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Research Online Asia Pacific Media ducatE or Issue 14 Article 3 12-2003 Games we play on Singapore telly T. Lim Queensland University of Technology Follow this and additional works at: https://ro.uow.edu.au/apme Recommended Citation Lim, T., Games we play on Singapore telly, Asia Pacific Media ducatE or, 14, 2003, 18-35. Available at:https://ro.uow.edu.au/apme/vol1/iss14/3 Research Online is the open access institutional repository for the University of Wollongong. For further information contact the UOW Library: [email protected] TANIA LIM: Games we play ... Games We Play On Singapore Telly In the mid 1990s, Singapore opened its doors to the international broadcasting community. The past four years in particular have seen steady policy-driven liberalisation of its print, television and multimedia industries. This has jumpstarted the local TV production industry and stimulated terrestrial network competition. While the two terrestrial TV networks compete voraciously for a small, fragmented, multilingual and increasingly sophisticated domestic TV audience, the localisation of international TV game show formats like Millionaire and The Weakest Link appear as attractive solutions to consolidate and build the audience base. TV gameshow formats have become one of the ‘formatting’ strategies that this industry employs to develop ‘local knowledge’ and ‘position’ themselves in the battle for audience ratings and eyeballs. This article will present findings and offer new insight into the impact of TV formats on the local television production, programming and audiences in Singapore. -
Annual Report
Financial Highlights Turnover & Prot Attributable to Equity Holders of the Company 2011 2010 Change Turnover Profit Attributable to Equity Holders of the Company Performance 6,000 Earnings per share HK$3.55 HK$3.04 17% Dividends per share 5,000 - Interim HK$0.45 HK$0.35 29% - Final HK$1.75 HK$1.65 6% 4,000 HK$2.20 HK$2.00 10% 3,000 HK$’mil HK$’mil Turnover HK$’ million HK$’ - Hong Kong terrestrial TV 2,000 broadcasting 2,858 2,533 13% - Programme licensing and 1,000 distribution 903 785 15% - Overseas satellite pay TV operations 389 372 5% 0 2007 2008 2009 2010 2011 - Taiwan operations 834 753 11% YEAR - Channel operations 252 330 -24% - Others activities 156 110 42% - Inter-segment elimination (183 ) (208 ) -12% Earnings & Dividends Per Share 5,209 4,675 11% Earnings per Share Dividends per Share Total expenses (2,968 ) (2,686 ) 10% 4 Share of losses of associates (58 ) (98 ) -41% 3.5 Profit attributable to equity holders 1,556 1,330 17% 3 31 December 31 December 2011 2010 2.5 HK$’mil HK$’mil 2 10% 8,033 Total assets 8,843 HK$ Total liabilities 1,741 1,545 13% 1.5 Total equity 7,093 6,488 9% 1 Number of issued shares 438,000,000 438,000,000 0% 0.5 Ratios 0 Current ratio 4.2 4.1 2007 2008 2009 2010 2011 Gearing 3.1% 4.0% YEAR 2011 Turnover by Operating Segment 2011 Reportable Segment Prot* by Operating Segment % relating to 2010 are shown in brackets % relating to 2010 are shown in brackets Programme Programme licensing and Hong Kong Hong Kong licensing and distribution terrestrial terrestrial distribution 15% (14%) TV TV 26% (26%) broadcasting -
Television Broadcasts Limited Pearl Schedule Sunday, 2012/01/01
Television Broadcasts Limited Pearl Schedule Sunday, 2012/01/01 06:00 Bloomberg Mentor 06:30 Innovators 07:00 Bloomberg Game Changers 07:30 NBC Nightly News 08:00 Putonghua E-News 08:30 News Review (RTHK) 09:00 The Open University of Hong Kong Special: Open for Learning: Research Methods in Psychology Part 1: Experimentation Part 2: Observation 09:30 The Open University of Hong Kong Special: Open for Learning: Enhancing Competitiveness (CAN) 09:35 The Open University of Hong Kong Special: Open for Learning: MPF Investment Education Day: How To Master Your MPF Investment Strategy (CAN) 10:05 The Open University of Hong Kong Special: Open for Learning: Blended Learning and New Technologies: Authentic Learning Using Powerful Cognitive Tools 10:50 The Open University of Hong Kong Special: Open for Learning: Emotion and Stress Handling (CAN) 11:35 The Open University of Hong Kong Special: Open for Learning: How to be a Good Police Officer (CAN) 12:05 The Open University of Hong Kong Special: Open for Learning: The Literature of the Qin, Han, Wei, Jin and the Southern and Northern Dynasties (PTH/CAN) 12:30 The Open University of Hong Kong Special: Open for Learning: Fashion Design (CAN) 13:00 Wonders of the Solar System (ENG/CAN) (CE) 13:55 Sunday Sport 14:35 Football Asia 15:00 FIFA Football World 15:30 I.N.K. Invisible Network of Kids 15:55 Ben 10 Ultimate Alien 16:20 Toon Disney: Disney’s Mickey Mouse Clubhouse 16:45 Toon Disney: Adventures of Mickey & Donald 17:10 Wild Animal Baby Explorers 17:30 Leonardo 18:00 Putonghua News Followed by -
English Scho Ols Foundation
On Air Michael Lipin - Island School On The Beat Ernest Kao - South Island School Bitten By The News Bug Haritarani(Rani) L. Samtani - Sha Tin College Public Service Nicole Lauren Lee - Renaissance College NEWS May 2015 May English Schools Foundation ALUMNI TABLE FOREWORD Welcome to this May edition of ESF Alumni News! of As one of the newest members of ESF Centre (only two weeks on the job), it is my privilege to offer this alumni magazine welcome to our alumni networks -- both CONTENTS near and far. On Air As a long term resident of Hong Kong, I have witnessed the many areas where ESF alumni have contributed and Michael Lipin enriched the vibrancy of our city, through Island School commerce, the arts, legal systems and social services. In this edition, we highlight four such individuals from the media field, who represent the inspiring educational ethos experienced by many who come through ESF. As you read through the experiences of Michael, Ernest, Rani and 04 Nicole, they have in common the sense of tenacity and resilience, while working towards their dreams. All of them found the springboard for those dreams at ESF, with each providing the space for exploration and On The Beat development of personal interests, nurtured with rigorous academics. Living in Hong Kong, one will connect invariably with someone who Ernest Kao has attended an ESF school, or who is connected to ESF as a parent or South Island School staff member. Such a connection was one of the reasons my husband and I selected the ESF system. -
Curriculum Vitae
CURRICULUM VITAE Hanna Vehkam¨aki September 28, 2020 https://publons.com/researcher/A-8262-2008 https://orcid.org/0000-0002-5018-1255 https://www.mv.helsinki.fi/home/hvehkama 1 Full name Hanna Tuula Katariina Vehkam¨aki (previously Arstila) 2 Date and place of birth 27th December 1969, Helsinki, Finland 3 Current Position professor in computational aerosol physics Institute for Atmospheric and Earth System Research/Physics, Faculty of Science, Uni- versity of Helsinki, 1.12.2009- 4 Career breaks Maternity leave 5.5.-10.12. 2007 (7 months) Maternity leave 6.5.-9.12. 2005 (7 months) 5 Education and Training Herttoniemen yhteiskoulu, Helsinki, Finland: • 31.5. 1988 Matriculation examination University of Helsinki, Finland: • 16.11.2000 Docent in theoretical physics • 16.1.1998 PhD • 18.3.1994 MSc 1 CV Hanna Vehkam¨aki 2 6 Previous professional appointments Academy of Finland • Academy Research Fellow 1.8.2003-30.9.2009 University College London, United Kingdom: • Research Fellow 1.1.1998-31.12.1999 University of Helsinki(UH), Department of Physics: • University researcher 1.10.-30.11. 2009 • Research scientist 1.1. 2003- 31.7.2003 • Academy of Finland postdoctoral researcher 1.1. 2001- 31.12.2002 • Senior assistant (substitute) 1.9.2000-31.12 2000 • Assistant, 1.1.1998-31.12.2000 (on leave of absence 1998-1999, 9/2000-12/2000) • Assistant(substitute) 1997 (6 months) • Research scientist 1997 (6 months) • Planning officer 1994 (3 months), 1995 (7 months) • Research assistant 1992 (3 months), 1993 (7 months) • Fee-paid teacher 1990 (2 months) UH, Department of Theoretical Physics: • Assistant (substitute) 1991 (5 months), 1992 (7 months) • Fee-paid teacher 1991 (3 months), 1992 (3 months) Research Institute for Theoretical Physics: • Junior Fellow 1995 (5 months), 1996 (12 months) 7 Teaching experience Supervisor/examiner of Bachelor theses: 13. -
The Cultural Politics of Tobacco Control in Hong Kong
Lingnan University Digital Commons @ Lingnan University Theses & Dissertations Department of Cultural Studies 2009 Beyond public health : the cultural politics of tobacco control in Hong Kong Wai Yin CHAN Follow this and additional works at: https://commons.ln.edu.hk/cs_etd Part of the Critical and Cultural Studies Commons, Health Policy Commons, and the Social Control, Law, Crime, and Deviance Commons Recommended Citation Chan, W. Y. (2009).Beyond public health : the cultural politics of tobacco control in Hong Kong (Doctor's thesis, Lingnan University, Hong Kong). Retrieved from http://dx.doi.org/10.14793/cs_etd.4 This Thesis is brought to you for free and open access by the Department of Cultural Studies at Digital Commons @ Lingnan University. It has been accepted for inclusion in Theses & Dissertations by an authorized administrator of Digital Commons @ Lingnan University. Terms of Use The copyright of this thesis is owned by its author. Any reproduction, adaptation, distribution or dissemination of this thesis without express authorization is strictly prohibited. All rights reserved. BEYOND PUBLIC HEALTH: THE CULTURAL POLITICS OF TOBACCO CONTROL IN HONG KONG CHAN WAI YIN PHD LINGNAN UNIVERSITY 2009 BEYOND PUBLIC HEALTH: THE CULTURAL POLITICS OF TOBACCO CONTROL IN HONG KONG by CHAN Wai Yin A thesis submitted in partial fulfillment of the requirements for the Degree of Doctor of Philosophy in Cultural Studies Lingnan University 2009 ABSTRACT Beyond Public Health: The Cultural Politics of Tobacco Control in Hong Kong by CHAN Wai Yin Doctor of Philosophy This work provides cultural and political explanations on how and why cigarette smoking has increasingly become an object of intolerance and control in Hong Kong. -
Is Human the Weakest Link in Information Security?
Jaakko Jalkanen IS HUMAN THE WEAKEST LINK IN INFORMATION SECURITY? SYSTEMATIC LITERATURE REVIEW UNIVERSITY OF JYVÄSKYLÄ FACULTY OF INFORMATION TECHNOLOGY 2019 TIIVISTELMÄ Jalkanen, Jaakko Is Human The Weakest Link In Information Security: A Systematic Literature Review Jyväskylä: Jyväskylän yliopisto, 2019, 61 s. Tietojärjestelmätiede, pro gradu -tutkielma Ohjaaja: Siponen, Mikko Tämä pro gradu -tutkielma tutkii ihmisen roolia tietoturvassa sekä esittää tunnetuimpia tietoturvaheikkouksia. Tutkielma on toteutettu systemaattisen kirjallisuuskatsauksen keinoin ja siinä etsitään vastausta tutkimuskysymykseen ”onko ihminen tietoturvan heikoin lenkki”. Tutkielma koostuu 31 pääartikkelin, sekä niiden lähteiden analyysistä, joiden pohjalta on tutkittu väitettä tai oletusta, jonka mukaan ”ihminen on tietoturvan heikoin lenkki”. Tutkimuksen johtopäätöksissä todetaan, että kyseistä väitettä, sekä sen eri versioita on käytetty hyvin laajamittaisesti tietoturvakirjallisuudessa, vaikka tieteellistä näyttöä ihmisen roolista heikoimpana lenkkinä ei tutkimuksessa löydetty tai edes pyritty löytämään. Tämän tiedon avulla organisaatiot pystyvät yhä paremmin näkemään, missä organisaatioiden ”heikoin lenkki” mahdollisesti sijaitsee, sekä myös suhtautumaan tietoturvakirjallisuuden yleistyksiin pienellä varauksella. Tässä tutkielmassa esitellään myös esimerkki tietomurtoja, sekä analysoidaan niiden kompleksisuutta. Avainsanat: tietoturva, ihminen tietoturvakontekstissa, heikoin lenkki, tietotur- vauhka, systemaattinen kirjallisuuskatsaus ABSTRACT Jalkanen, Jaakko -
Weakest Link Tabletop Game Instructions
Ages 8 & up Weakest Link™ & © BBC 2000. Licensed by BBC Worldwide Ltd. TM & © 2001 National Broadcasting Company, Inc. All Rights Reserved. Weakest Link - music written by Paul Farrer Published by Music Factor Ltd Licensed courtesy of BBC Worldwide Ltd (P) 2000 BBC A division of Hasbro, Inc. Where Technology Comes to Play! ™ ®, TM, & © 2001 Tiger Electronics All rights reserved. 980 Woodlands Parkway, Vernon Hills, IL 60061, USA www.tigertoys.com Instructions 200105080IWTI-01 Item No. 80749 PRINTED IN CHINA Welcome to the Weakest Link! All eight players must work together to build the team’s bank balance. Seven players will leave the game with nothing. Only one will win the prize. Who is allergic to intelligence? Who has outstayed their welcome? It’s up to you to decide, as round by round you lose the player voted the Weakest Link! Remember, you need to be ruthless to be rich! This box includes: 1 electronic table top unit 65 double-sided question cards 10 double-sided head-to-head cards 1 ABOUT THE GAME PLAYER BUTTONS PLAYER BUTTONS – used to identify and choose players during play and for voting CARD CODE WINDOW – used to display the code of the question card in the unit CARD DOOR– used to insert and remove cards 4 5 QUESTION WINDOW – used to display the question in play 3 6 ANSWER BUTTONS – used to select answers PASS – used in place of an answer button 7 2 BANK – used to “bank” money won by answering questions correctly START – used to confirm number of players and to resume play after Anne asks a 8 question in the voting round or after pausing game 1 SOUND – used to toggle through three volume levels RESET – used to reset the game unit LCD CARD CODE PAUSE – used to pause game play WINDOW ON/OFF – used to turn the game on and off LCD – used to display game information ON/OFF CARD DOOR PAUSE RESET QUESTION C WINDOW SOUND B A START ANSWER BUTTONS START S PAS BANK BANK PASS 2 3 ABOUT THE LCD During the HEAD-TO-HEAD round The LCD will display the information you need during the game.