Search results for "Rule of thumb"
showing 6 items of 6 documents
Search, Nash bargaining and rule-of-thumb consumers
2011
Abstract This paper analyses the effects of introducing two typical Keynesian features, namely rule-of-thumb (RoT) consumers and consumption habits, into a standard labour market search model. RoT consumers use the margin that hours and wage negotiation provides them to improve their lifetime utility, by narrowing the gap in utility with respect to Ricardian consumers. This margin for intertemporal optimisation has not been studied yet, because this class of restricted agents has been mainly used in models with no equilibrium unemployment. Our approach allows for a deeper study of the effects of shocks on vacancies, unemployment, hours, wages and how they interact. As habits increase, RoT c…
Mitigation of Fatigue Damage and Vibration Severity of Electric Drivetrains by Systematic Selection of Motion Profiles
2016
The offshore drilling industry is among the most demanding markets for electrical equipment. Heave motion, irregular cyclic loads, harsh weather conditions, and vibrations are causing accelerated deterioration of drilling equipment. One of the most common solutions to these problems is to design actuation systems of such machinery overly conservative to gain additional safety, which results in too high initial investment and maintenance costs. To mitigate the fatigue damage and vibration severity of rotating elements of electric drivetrains operating offshore, this paper presents a comparative analysis of four popular input functions used in motion control of industrial systems. We evaluate…
Minimum Leading Edge Protection Application Length to Combat Rain-Induced Erosion of Wind Turbine Blades
2021
Leading edge erosion (LEE) repairs of wind turbine blades (WTBs) involve infield application of leading edge protection (LEP) solutions. The industry is currently aiming to use factory based LEP coatings that can applied to the WTBs before they are shipped out for installation. However, one of the main challenges related to these solutions is the choice of a minimum LEP application length to be applied in the spanwise direction of the WTBs. Generally, coating suppliers apply 10–20 m of LEP onto the blades starting from the tip of the blade using the “rule of thumb”, and no studies in the literature exist that stipulate how these LEP lengths can be calculated. In this study, we extend the sc…
KERNEL ESTIMATION OF THE TRANSITION DENSITY IN BIFURCATING MARKOV CHAINS
2023
We study the kernel estimator of the transition density of bifurcating Markov chains. Under some ergodic and regularity properties, we prove that this estimator is consistent and asymptotically normal. Next, in the numerical studies, we propose two data-driven methods to choose the bandwidth parameters. These methods are based on the so-called two bandwidths approach.
Exergoeconomic analysis as support in decision-making for the design and operation of multiple chiller systems in air conditioning applications
2020
Abstract Multiple-chillers systems represent viable solutions for medium/large-scale air conditioning applications characterized by variable cooling demand. The energy efficiency of such systems is influenced by the number of chillers, the combination of cooling capacities, and the load-sharing among the units. Large efforts have been devoted to developing efficient operation strategies for these systems, but rules of thumb are usually adopted for selecting cooling capacities thus leaving room for energy and economic savings. In this paper, exergoeconomic analysis is proposed as a promising method to identify near-optimal design and operation strategies, due to the capability of exergoecono…
Do Individual Effects Reflect Quantitative or Qualitative Differences in Cognition?
2021
Rouder and Haaf (2020) posed the important question if there are some individuals whose behavior is not in accordance with well-established experimental effects and whether these individual differences are quantitative or qualitative in nature. In our commentary, we discuss the distinction between quantitative and qualitative individual differences and between individual and average causal effects and come to the conclusion that this is not a new question, but in fact one that has already been discussed by Gordon W. Allport (1937) and Donald B. Rubin (1974, 1978). Moreover, we critically examine their proposed rule of thumb to collect about 100 trials per experimental condition to reliably …