Contributions in Merlin

Modern trade agreements no longer emphasize basic trade liberalization but instead focus on international policy coordination in a much broader sense. In this review we introduce the emerging literature on the political economy of such deep integration agreements. We organize our discussion around three main points. First, the political conflict surrounding trade agreements is moving beyond the classic antagonism of exporter interests who gain from trade and import-competing interests who lose from trade. Second, there is a more intense popular backlash against deep integration agreements than there was against shallow integration agreements. Finally, the welfare economics of trade agreements has become more complex, in the sense that the goal of achieving freer trade is no longer sufficient as a guide to evaluating the efficiency of international agreements.

Traumatic events can produce emotional, cognitive and autonomous physical responses. This may ultimately lead to post-traumatic stress disorder (PTSD), a psychiatric syndrome which requires comprehensive treatment. Trauma exposure alters functional connectivity; however, onset and nature of these changes are unknown. Here, we explore functional connectivity changes at rest directly after experimental trauma exposure. Seventy-three healthy subjects watched either a trauma or a control film. Resting state functional magnetic resonance imaging measurements were conducted before and directly after the film. Seed-based analyses revealed trauma-related changes in functional connectivity, specifically including decreases of connectivity between amygdala and middle temporal gyrus and increases between hippocampus and precuneus. These central effects were accompanied by trauma-related increases in heart rate. Moreover, connectivity between the amygdala and middle temporal gyrus predicted subsequent trauma-related valence. Our results demonstrate rapid functional connectivity changes in memory-related brain regions at rest after experimental trauma, selectively relating to changes in emotions evoked by the trauma manipulation. Results could represent an early predictive biomarker for the development of trauma-related PTSD and thus provide an indication for the need of early targeted preventive interventions.

It is increasingly evident that the direction of technological change responds to economic incentives. We review the literature on directed technical change in the context of environmental economics and labor economics, and we show that these fields have much in common both theoretically and empirically. We emphasize the importance of a balanced growth path and show that the lack of such a path is closely related to the slow development of green technologies in environmental economics and to growing inequality in labor economics. We discuss whether the direction of innovation is efficient.

The seemingly rampant economic selfishness suggested by many recent corporate scandals is at odds with empirical results from behavioural economics, which demonstrate high levels of prosocial behaviour in bilateral interactions and low levels of dishonest behaviour. We design an experimental setting, the ‘Big Robber’ game, where a ‘robber’ can obtain a large personal gain by appropriating the earnings of a large group of ‘victims’. In a large laboratory experiment (N = 640), more than half of all robbers took as much as possible and almost nobody declined to rob. However, the same participants simultaneously displayed standard, predominantly prosocial behaviour in Dictator, Ultimatum and Trust games. Thus, we provide direct empirical evidence showing that individual selfishness in high-impact decisions affecting a large group is compatible with prosociality in bilateral low-stakes interactions. That is, human beings can simultaneously be generous with others and selfish with large groups.

Mounting evidence has demonstrated that embodied virtual reality, during which physical bodies are replaced with virtual surrogates, can strongly alter cognition and behavior even when the virtual body radically differs from one’s own. One particular emergent area of interest is the investigation of how virtual gender swaps can influence choice behaviors. Economic decision-making paradigms have repeatedly shown that women tend to display more prosocial sharing choices than men. To examine whether a virtual gender swap can alter gender-specific differences in prosociality, 48 men and 51 women embodied either a same- or different-gender avatar in immersive virtual reality. In a between-subjects design, we differentiated between specifically social and non-social decision-making by means of a virtually administered interpersonal and intertemporal discounting task, respectively. We hypothesized that a virtual gender swap would elicit social behaviors that stereotypically align with the gender of the avatar. To relate potential effects to changes in self-perception, we also measured implicit and explicit identification with gendered (or gender-typical) traits prior to and following the virtual experience, and used questionnaires that assessed the strength of the illusion. Contrary to our hypothesis, our results show that participants made less prosocial decisions (i.e., became more selfish) in different-gender avatars, independent of their own biological sex. Moreover, women embodying a male avatar in particular were more sensitive to temptations of immediate rewards. Lastly, the manipulation had no effects on implicit and explicit identification with gendered traits. To conclude, while we showed that a virtual gender swap indeed alters decision-making, gender-based expectancies cannot account for all the task-specific interpersonal and intertemporal changes following the virtual gender swap.

Video is a very expressive medium, able to capture a wide variety of information in different ways. While there have been many advances in the recent past, which enable the annotation of semantic concepts as well as individual objects within video, their larger context has so far not extensively been used for the purpose of retrieval. In this paper, we introduce the first iteration of VideoGraph, a knowledge graph-based video retrieval system. VideoGraph combines information extracted from multiple video modalities with external knowledge bases to produce a semantically enriched representation of the content in a video collection, which can then be retrieved using graph traversal. For the 2021 Video Browser Showdown, we show the first proof-of-concept of such a graph-based video retrieval approach. Keywords Interactive video retrieval Knowledge-graphs Multi-modal graphs

We construct a derivative that depends on the SPY and VIX and, in this way, incorporates both the market risk premium and the variance risk premium. We show that the product’s Sharpe ratio is higher than the SPY Sharpe ratio. If we had invested $10,000 into the product, the product’s payoff would have been about $60,000 at the end of 2018. In comparison, if we invested $10,000 into the SPY, the SPY payoff would be only about $30,000

There is a growing use of intelligent systems to support human decision-making across several domains. Trust in intelligent systems, however, is pivotal in shaping their widespread adoption. Little is currently understood about how trust in an intelligent system evolves over time and how it is mediated by the accuracy of the system. We aim to address this knowledge gap by exploring trust formation over time and its relation to system accuracy. To that end, we built an intelligent house recommendation system and carried out a longitudinal study consisting of 201 participants across 3 sessions in a week. In each session, participants were tasked with finding housing that fit a given set of constraints using a conventional web interface that reflected a typical housing search website. Participants could choose to use an intelligent decision support system to help them find the right house. Depending on the group, participants received a variation of accurate or inaccurate advice from the intelligent system throughout each session. We measured trust using a trust in automation scale at the end of each session. We found evidence suggesting that trust development is a slow process that evolves over multiple sessions, and that first impressions of the intelligent system are highly influential. Our results echo earlier research on trust formation in single session interactions, corroborating that reliability, validity, predictability, and dependability all influence trust formation. We also found that the age of the participants and their affinity with technology had an effect on their trust in the intelligent system. Our findings highlight the importance of first impressions and improvement of system accuracy for trust development. Hence, our study is an important first step in understanding trust development, breakdown of trust, and trust repair over multiple system interactions, informing improved system design.

Reappraisal of negative memories and experiences is central for mental health and well-being. Deficiency of reappraisal lies at the core of many psychiatric disorders and is a key target for treatment. Here we apply transcranial direct current stimulation (tDCS) to enhance reappraisal of negative emotional memories. In a randomised, sham-controlled, 2 × 2 between-subject and double-blinded study, we applied single sessions of anodal and sham tDCS over the right dorsolateral prefrontal cortex (dlPFC) of 101 healthy participants while reappraising a personal negative memory or engaging in a control task. We hypothesised that (i) reappraisal decreases negative valence, arousal and evaluations of the memory and leads to improved decision making, and (ii) tDCS leads to additional changes in these reappraisal outcomes. In line with these hypotheses, participants’ personal memories were rated as less negative and less arousing following reappraisal. Anodal tDCS during reappraisal was associated with significant short-term reductions in negative valence compared to sham stimulation. Our results indicate that tDCS may enhance some of the effects of reappraisal. If replicated, our findings suggest potential benefits elicited by tDCS stimulation that may help optimise current treatment approaches for psychiatric disorders.

Die Swiss Structured Products Association (SSPA) lanciert das SSPA Lab in Zusammenarbeit mit Universität Zürich. In wenigen Sekunden lassen sich die gängigsten Produkte kreieren und in diversen Bullen- und Bären-Szenarien testen.