Traditionally, the Gambler's Fallacy is described as the belief that a sequence of independent outcomes over time should exhibit short-run reversals. The underlying psychological bias thought to drive this fallacy is Representativeness Bias: the idea that even a small sample of outcomes should...

Frequent online poker players with extensive experience calculating probabilities and expected values might be expected to behave as Expected Utility maximizers, in that small shocks to their wealth would not affect risk preferences (Rabin, 2000). By contrast, reference-dependent loss aversion...

Based on independent studies, this paper focuses on the significant discrepancy of 15GW between the installed onshore wind generation capacity and what has been actually connected to the power network to reveal the challenges in meeting the Chinese renewable energy target. The recent accidents...

Based on a two-qubit Heisenberg XY model, we construct a four-level entangled quantum heat engine (QHE). It is an interesting quantum Otto cycle where the exchange constant is fixed and only the magnetic field is varied during the adiabatic steps. The expressions for several thermodynamic...