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Related Concept Videos

Gain01:15

Gain

Gain and phase shift are properties of linear circuits that describe the effect a circuit has on a sinusoidal input voltage or current. The circuit's behavior that contains reactive elements will depend on the frequency of the input sinusoid. As a result, it is observed that the gain and phase shift will all be frequency functions.
Gain:
Suppose Vin is the input and Vout is the output signal to a circuit.
Minor Losses in Pipes01:25

Minor Losses in Pipes

In pipe systems, minor losses refer to energy losses arising from components such as valves, bends, fittings, expansions, and other features that disrupt the steady flow of fluid. These disturbances cause energy dissipation through turbulence and resistance, which engineers quantify to manage system efficiency effectively.
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Mason's Rule01:20

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Mason's rule is a powerful tool in control systems and signal processing. It simplifies the calculation of transfer functions from signal-flow graphs. This method leverages various elements, including loop gains, forward-path gains, and non-touching loops, to determine the transfer function efficiently.
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Reducing Line Loss01:18

Reducing Line Loss

In a three-phase circuit, line loss is an indicator of energy dissipated as heat due to the resistance of transmission lines. To address this, incorporating transformers into the system—a step-up transformer at the source and a step-down transformer at the load—is a strategic solution. Two three-phase transformers are introduced to improve this.
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Energy Losses in Transformers01:21

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In an ideal transformer, it is assumed that there are no energy losses, and, hence, all the power at the primary winding is transferred to the secondary winding. However, in reality,  the transformers always have some energy losses, and, hence, the output power obtained at the secondary winding is less than the input power at the primary winding due to energy losses.
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Lossy Lines and Overvoltages

Transmission-line series resistance and shunt conductance cause three primary effects: attenuation, distortion, and power losses.
Attenuation
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Comparing gains and losses.

A Peter McGraw1, Jeff T Larsen, Daniel Kahneman

  • 1Leeds School of Business, University of Colorado, Boulder, Boulder, CO 80309, USA. peter.mcgraw@colorado.edu

Psychological Science
|August 27, 2010
PubMed
Summary
This summary is machine-generated.

Loss aversion impacts judged feelings when gains and losses are compared on a common scale. However, it is absent when outcomes are evaluated separately, challenging the universality of loss aversion in subjective experiences.

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Area of Science:

  • Behavioral Economics
  • Psychology
  • Decision Science

Background:

  • Loss aversion is typically assumed to stem from losses having a greater emotional impact than gains.
  • Empirical evidence for this in studies of judged feelings remains inconsistent.
  • The context and scale used for evaluating feelings may influence the presence of loss aversion.

Purpose of the Study:

  • To investigate the conditions under which loss aversion manifests in judged feelings.
  • To differentiate between gain-loss comparisons and separate evaluations of outcomes.
  • To examine the role of common versus separate psychological scales in loss aversion.

Main Methods:

  • Experimental design comparing tasks that encourage gain-loss comparisons versus those that discourage them.
  • Utilizing different rating scales, including bipolar scales, to assess judged feelings.
  • Analyzing subjective evaluations of gains and losses in various comparative contexts.

Main Results:

  • Loss aversion was observed in judged feelings when participants compared gains and losses on a common scale.
  • Loss aversion was not found when participants judged feelings about outcomes in separate contexts (e.g., losses evaluated against other losses).
  • The use of bipolar scales was particularly effective in discouraging gain-loss comparisons and mitigating loss aversion.

Conclusions:

  • Loss aversion in judged feelings is context-dependent, emerging when gains and losses are directly compared.
  • When outcomes are normed separately, psychological scales for gains and losses may differ, diminishing loss aversion.
  • The findings suggest that the structure of the judgment task significantly influences the experience and expression of loss aversion.