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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. -
Singapore Go
TAIPEIHONGKONGNGVANCOUV SHANGHAIBEIJINGSINGAPO TOKYOSINGAPORETOKYO WASHINGTONTAIPEIBEIJING HONGKONGSEOULLVANCOUVER HONGKONG TOKYO VANCOUVERSINGAPOREGO TAIPEI HONGKONGBEIJINGSHANGHAI TAIPEISINGAPOREHONGK VANCOUVERHONGKONG SHANGHAI SINGAPORE HONGKONGSEOULS LTOKYOYO VANCOUVER SHANGHAISINGAPOREESHANGHAI SEOULLSINGAPORESEOUL WASHINGTONTAIPEIHONGKONG HONGKONG SEOULLVANCOUVERTOKYO SHANGHAIHONGKONGTAIPEI SINGAPORE 2017 Raffles City 28 July to 21 August 2017 TTXS AROUND THE WORLD Ann Arbor, Beijing, Chicago, Daegu, Fukuoka, Fukushima, Hangzhou, Hong Kong, Los Angeles, Mexico City, 2007 2008 EXIT Festival and the Shanghai: Tian Tian Tian Tian Xiang Shang Tian Tian Xiang Shang VIA Festival Xiang Shang – Hong Exhibition in Singapore at Novel Hall Lane, Kong Creativity Taipei Exhibition cum Seminar 2012-2013 Cross Boundary – "Hong Kong + Japan: Tian Tian Xiang Beijing Design Week Art Lab of Museum Crossing Partnership in Shang: Creativity- 2013 – New Generation of Contemporary Art, Creativity" project – for-Community and Design Exhibition Shanghai "Tian Tian Xiang Shang" School Development statue exhibition-cum- Programme workshop 2016-2017 Tian Tian Xiang Shang Tian Tian Xiang Shang Workshop in Vancouver Tian Tian Fa Pau iSQUARE Exhibition Blank Boy Canvas Singapore Public Arts Exhibition Series Milan, Nanjing, Paris, San Francisco, Shanghai, Singapore, Taipei, Tokyo, Toronto, Vancouver, Washington D.C. 2010 2011 Hong Kong: Creative Tian Tian Xiang Shang International Children’s TTXS – Soliloquies and Ecologies – Business, Conceptual Comics Festival -
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. -
Mapping the Information Environment in the Pacific Island Countries: Disruptors, Deficits, and Decisions
December 2019 Mapping the Information Environment in the Pacific Island Countries: Disruptors, Deficits, and Decisions Lauren Dickey, Erica Downs, Andrew Taffer, and Heidi Holz with Drew Thompson, S. Bilal Hyder, Ryan Loomis, and Anthony Miller Maps and graphics created by Sue N. Mercer, Sharay Bennett, and Michele Deisbeck Approved for Public Release: distribution unlimited. IRM-2019-U-019755-Final Abstract This report provides a general map of the information environment of the Pacific Island Countries (PICs). The focus of the report is on the information environment—that is, the aggregate of individuals, organizations, and systems that shape public opinion through the dissemination of news and information—in the PICs. In this report, we provide a current understanding of how these countries and their respective populaces consume information. We map the general characteristics of the information environment in the region, highlighting trends that make the dissemination and consumption of information in the PICs particularly dynamic. We identify three factors that contribute to the dynamism of the regional information environment: disruptors, deficits, and domestic decisions. Collectively, these factors also create new opportunities for foreign actors to influence or shape the domestic information space in the PICs. This report concludes with recommendations for traditional partners and the PICs to support the positive evolution of the information environment. This document contains the best opinion of CNA at the time of issue. It does not necessarily represent the opinion of the sponsor or client. Distribution Approved for public release: distribution unlimited. 12/10/2019 Cooperative Agreement/Grant Award Number: SGECPD18CA0027. This project has been supported by funding from the U.S. -
Multi-Dose Medication Management Service Makes It Easier to Track Medication Use - Xinmsn News
11/18/12 Multi-dose medication management service makes it easier to track medication use - xinmsn News More xinmsn home Lifestyle Sports Make xinmsn your Homepage 中文版 Page Options sign in NEWS Like 24k Follow HOME SINGAPORE WORLD REGIONAL SCI-TECH WEIRD BUSINESS SPORTS VIDEOS WEATHER PROPERTY RSS Updated: 05/09/2012 01:08 Multi-dose medication management service makes it easier to track medication use Share 3 Tw eet 0 Like 0 Elderly patients who need to take multiple medications will find it easier to identify and track their medication use with a new automated medication packing system. The system is called ConviDose and is part of a pilot programme started in May 2010. It is currently being used by some 3 thousand news videos patients in 14 nursing homes and four long stay wards in the Institute of Mental Health. The National Healthcare Group which came up with ConviDose, aims for it to help nursing homes free up manpower, save on storage space and improve medication safety. ConviDose works by having machines pre-package ®Copyright MediaCorp patient dosage into sachets, according to the stipulated quantity and time the pills need to be consumed. Like 0 Send Compared to the calendar blister packs used to organise medications, this system is at least 14 times faster. 'Gangnam Style' making Psy a There are plans to extend this service to day care centres and patients being looked after by private health care worldwide hit providers. The Salvation Army Peacehaven Nursing Home's Executive Director Madam Low Mui Lang, says the system is facebook recommendations convenient for her nurses. -
Singapore Internet Case Study
THE e-CITY: SINGAPORE INTERNET CASE STUDY April 2001 Michael Minges, Magda Ismail and Larry Press wrote this report. Vanessa Gray provided editorial comments and Nathalie Delmas handled formatting and production. Vincent Tan Fu Ming of Radin Mas Primary School in Singapore drew the picture on the cover. The authors are indebted to the Infocomm Development Authority of Singapore (IDA) for its support and particularly Meng Chung Lee who graciously dealt with the logistics. The report is based on field research undertaken 24-28 July 2000 as well as reports and articles identified in the bibliography or as footnotes. We would like to thank Jenny Yeo (Radin Mas Primary School), Alvin Kuek (AsiaStockWatch), Yap Kwang Tan (Ministry of Education), Colin Quek (National Healthcare Group), Siew Luan Yap (AsiaOne), Yoke Wah Lum (Ministry of Health), Cecilia Yip (Singa- pore Broadcasting Authority), Vivien Chow (Singapore Cable Vision) as well as IDA for their valuable comments on the draft version of this report. The views expressed are those of the authors and may not necessarily re- flect the opinions of the International Telecommunication Union, its mem- bers, or the Government of the Republic of Singapore. This report is one of a series of Internet Case Studies. Additional information is available on the Internet Case Studies web site at www.itu.int/ti/casestudies. © ITU 2001 ii Contents 1. Country background ............................................................ 1 1.1 Overview............................................................................. 1 1.2 Demography ........................................................................ 1 1.3 Economy ............................................................................. 1 1.4 Human development............................................................. 2 1.5 Political ............................................................................... 2 2. Information and Communication Technology markets ......... 4 2.1 Telecommunication Sector .................................................... -
Military Welcomes Public
HAwirWid Voluntary payment for delivery to MARINEMCAS housing/$1 per four week period VOL. 9 NO. 20 KANE(111E BAY, HAWAII, MAY 21, 1980 TWENTY PAGE; Photo by SW Don Collins ARMED FORCES DAY SALUTE-A wizened look-alike for the original Uncle Sam holds two children during the Armed Forces Day Open House held Saturday at Ilickam Air Force Base. A smiling "Betsy Rosa" looks on as she and Uncle Sam pose inside the interior of the C-5 Galaxy. Photo by Sgt Jun Orlando GERONIMO-Sailors from the Navy Explosive Ordnance Saturday during the free-fall parachuting demonstration at the Disposal Group-1 file out of a CH-46 "Sea Knight" helicopter Armed Forces Day Open House at Pearl Harbor. Military welcomes public A gala show of military to it in cockpits of aircraft such Squadron-265, Marine Aircraft Overall response was aummethla hospitality began Saturday as the F-4 Phantom jet aircraft Group-24, 1st Marine Brigade. in the words of one spectator, "I think this exhibition is fantastic. when Naval Base Pearl Harbor and TA-4 Skyhawk and to walk PARACHUTISTS from the and Ilickam Air Force Base through the world's largest cargo The Marines were really nice and Navy Explosive Ordnance informed us about all of their opened their gates to the civilian plane, the C-5 Galaxy. Also on Disposal Group-1 exercised their and military public for the 31st display were transport and free-falling techniques and equipment." Annual Armed Forces Day attack helicopters from the Army The Army demonstrated the plunged into the water between 81mm mortar and gave children observance. -
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. -
Entertainment.Xin.Msn.Com
More xinmsn home lifestyle video Make xinmsn your Homepage xinmsn Entertainment | Web 中文版 Page Options sign in J’aime 39k ENTERTAINMENT Follow HOME CELEBRITY BUZZ HALLYU PHOTOS MOVIES TV RADIO XINFIRST RSS gossip blogs bios 03/04/2012 The Cranberries, still a well-loved old favourite The Irish rockers waltz back to Singapore, on the back of their latest album, “Roses” to deliver another unbridled performance at the Singapore Indoor Stadium last night Share 8 Tweet 4 Share 42 Text: Joyce J. Chansingh Videos: Fiona Lin Photos: Eddie Sung and Hype Records celebrity video It was just like they were here for the first time. "You guys have been the most kickin' ass audience!" lead vocalist Dolores O'Riordan was having a blast being back on our shores, she Madonna Defends Kanye West to Move Her Malawi Charity to Paris? shouted out to the crowd "It's good to be back here Despite Recent in six months, it feels great!" Accusations So great that Dolores even let on about her trip to the Botanic Gardens and a shopping spree in Orchard Road where she "almost spent a fortune!" Celebrities Flock to Katy Perry May be Coachella Music Heading to Court Just six months after the alternative rock band Festival delighted their fans in Singapore with their first full- scale concert last year, The Cranberries - led by most popular Dolores O'Riordan with guitarist Noel Hogan, 10 爆王菲与李 离婚 8年夫妻 尽 bassist Mike Hogan and drummer Fergal Lawler - were back to enthral their frenzied fans again with 3 王祖 睽 11年首 声明 以"我很健 康"辟 their hypnotic and powerhouse hits. -
Poh Cheng Khoo Interrogating the Women Warrior
MIT4 Panel: "Asian Warrior Womanhood in Storytelling." Poh Cheng Khoo Interrogating the Women Warrior: War, Patriotism and Family Loyalty in Lady Warriors of the Yang Family (2001). The medieval Chinese are known to be heavily patriarchal, but even such a culture produced many formidable women warriors…Daughters of prominent military families trained in the martial arts. Wives of generals were often chosen for their battle skills. The Yang family of the Song Dynasty (960-1279 CE) was one such military family. When the men were decimated on various military assignments, their wives, mothers, sisters and even maidservants took their places on the battlefield. (“Warriors: Asian women in Asian society”) “No group of women in Chinese history has commanded so much prestige and respect as the ladies of the Yang family. They are revered as great patriots who were willing to lay down their lives for the sake of their country” (Lu Yanguang, 100 Celebrated Chinese Women, 149). The genesis of this paper lies in a 40-part retelling of one of the more enduring woman warrior stories of historical China. When I saw this particular 2001 TV series which loosely translates into Lady Warriors of the Yang Family, I was working on my dissertation involving Maxine Hong Kingston’s The Woman Warrior and hence the iconic figure of Fa Mu Lan. Contrary to Mulan’s concealment of gender in battle, here was a family of woman warriors from some ten centuries ago, none of whom had to compromise their true biological identity by cross-dressing or, according to Judith Lorber’s definition, turning “transvestite” (Richardson et al [eds.] 42). -
NHG Launches New Institute to Better Serve Singapore's Ageing Population
10/17/12 NHG launches new institute to better serve Singapore’s ageing population - xinmsn News More xinmsn home Lifestyle Sports Make xinmsn your Homepage 中文版 Page Options sign in NEWS Like 23k Follow HOME SINGAPORE WORLD REGIONAL SCI-TECH WEIRD BUSINESS SPORTS VIDEOS WEATHER PROPERTY RSS Updated: Thu, 27 Sep 2012 20:58:17 GMT | By Channel NewsAsia NHG launches new institute to better serve Singapore’s ageing population NHG launches new institute to better serve Singapore’s ageing population Share 8 Tw eet 1 Like 3 news videos Grooming Canada's future aviation workers facebook recommendations most popular viewed shared SINGAPORE: To better serve the needs of Singapore’s ageing population, the National Healthcare Group (NHG) Amy Cheong violated employment clause: NTUC will launch the new Institute of Geriatrics and Active Ageing (IGA) on Friday. Amy Cheong says sorry for Facebook post The centre, to be housed in Tan Tock Seng Hospital, is a one—stop service centre bringing together different medical specialities to care for the elderly. Facebook comments about Malay weddings "wrong and totally unacceptable": PM Lee The IGA is set up by Tan Tock Seng Hospital’s Division of Integrative and Community Care (DICC) to establish new directions for geriatric care in Singapore. More companies get nosey with employee use of social media The institute will also allow healthcare professionals to conduct research. Focus areas will include clinical, technology, living environment and industrial designs. HAVE YOUR SAY: NTUC sacks staff for inappropriate FB comments This will be targeted at developing innovative care models. The institute will also work with the three medical schools to improve the prominence of geriatric education. -
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-