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Related Concept Videos

Sequences01:29

Sequences

69
Sequences are fundamental mathematical objects consisting of ordered lists of numbers that follow a specific rule or pattern. Sequences are critical in various mathematical concepts, including calculus, series, and number theory. They can model real-world phenomena such as population growth, financial investments, and physical processes like the diminishing height of a bouncing ball.Each number in a sequence is referred to as a term. Typically, the terms are denoted as a1, a2, a3,…, where the...
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Geometric Sequences01:30

Geometric Sequences

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In systems where values diminish by a constant proportion at each stage, the resulting sequence follows a geometric structure. Each new value in the sequence is obtained by applying a fixed multiplier to the preceding term. This regular, proportional decline type is often used to represent processes involving gradual loss, such as energy dissipation or reduction in amplitude over time.When analyzing the total effect of such a process across unlimited iterations, the series of values is referred...
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Arithmetic Sequences01:30

Arithmetic Sequences

69
An arithmetic sequence is a structured arrangement of numbers where each term is derived by adding a constant value, known as the common difference, to the previous term. This consistent pattern allows for the efficient computation of any term within the sequence as well as the cumulative sum of multiple terms. The formula for finding the nth term of an arithmetic sequence is:Here, aₙ represents the nth term of the sequence, a is the first term, d is the common difference, and n is the term...
69
Per-Unit Sequence Models01:26

Per-Unit Sequence Models

329
An ideal Y-Y transformer, grounded through neutral impedances, displays per-unit sequence networks akin to those of a single-phase ideal transformer when subjected to balanced positive- or negative-sequence currents. These currents do not produce neutral currents, and their associated voltage drops.
Zero-sequence currents, which are identical in magnitude and phase, generate a neutral current, resulting in voltage drops across the neutral impedance and the low-voltage winding. If the...
329
Basic Discrete Time Signals01:16

Basic Discrete Time Signals

506
The unit step sequence is defined as 1 for zero and positive values of the integer n. This sequence can be graphically displayed using a set of eight sample points, showing a step function starting from n=0 and remaining constant thereafter.
The unit impulse or sample sequence is mathematically expressed as zero for all n values except at n=0, where it is one. The unit impulse sequence, denoted by δ(n), is the first difference of the unit step sequence, while the unit step sequence u(n) is the...
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Maxam-Gilbert Sequencing01:05

Maxam-Gilbert Sequencing

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In the same year as the discovery of the Sanger sequencing method, another group of scientists, Allan Maxam and Walter Gilbert, demonstrated their chemical-cleavage method for DNA sequencing. The Maxam-Gilbert method relies on using different chemicals that can cleave the DNA sequence at specific sites, the separation of resulting DNA fragments of variable size using electrophoresis, and deciphering the DNA sequence from the resulting gel bands.
Challenges of the Maxam-Gilbert Method
The...
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The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
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The improving sequence effect on monetary sequences.

Adriana Garcia1, María José Muñoz Torrecillas2, Salvador Cruz Rambaud2

  • 1Department of Economics, Econometrics and Finance, University of Groningen, the Netherlands.

Heliyon
|December 15, 2020
PubMed
Summary

People prefer rising income streams over lump sums, even when aware of present value. This preference is driven by future needs, motivation, and status signals, challenging traditional financial models.

Keywords:
Behavioral economicsDecision sciencesFinancial economicsImproving sequence effectIncome sequenceIntertemporal choiceLabor economicsPresent value maximization principleSocial sciencesValuation model

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Area of Science:

  • Behavioral Economics
  • Decision Theory
  • Financial Modeling

Background:

  • Traditional financial models, like the discounted utility model, assume individuals prioritize present value maximization.
  • Previous experimental studies suggest a deviation from this principle, showing a preference for improving income sequences.
  • The underlying psychological and practical drivers for this anomaly remain incompletely understood.

Purpose of the Study:

  • To experimentally investigate the preference for improving income sequences in both short and long-term scenarios.
  • To confirm and extend previous findings on this 'sequence effect' in financial decision-making.
  • To identify the key motivations behind individuals' choices for improving income streams.

Main Methods:

  • An experiment was designed to present participants with various income sequences (improving vs. non-improving).
  • Participants' choices were recorded and analyzed in relation to short-term and long-term financial decisions.
  • A new mathematical valuation model was developed to incorporate the observed sequence effect.

Main Results:

  • Participants consistently demonstrated a preference for improving income sequences, even when aware of the higher present value of alternatives.
  • Key motivations cited include better planning for future spending, enhanced work motivation, and signaling of success/status.
  • The proposed alternative valuation model showed a superior fit to participant preferences compared to the traditional discounting model.

Conclusions:

  • The study confirms a significant 'sequence effect' in financial decision-making, where improving income streams are preferred over higher present value alternatives.
  • This preference is rooted in practical considerations (future needs) and psychological factors (motivation, status).
  • A revised valuation model is proposed that better reflects actual human financial preferences by incorporating sequence effects.