Once they have observed information, hindsight biased agents fail to remember how ignorant they were initially, “they knew it all along.” We formulate a theoretical model of this bias, providing a foundation for empirical measures, and implying that hindsight biased agents conduct incorrect learning about volatility. In an experiment involving 67 students from Mannheim University, we find that ...

In this paper we show that, paradoxically, what looks like a “universal improvement” or a “straight-forward improvement” which enables better security and better reliability on a theoretical level, may in fact, within certain operational contexts, introduce new exposures and attacks, resulting in a weaker operational cryptosystem. We demonstrate a number of such dangerous “improvements”. This i...

The benchmark dose (BMD) method has been recommended to replace the no-observed-adverse-effect-level (NOAEL) approach in health risk assessment of chemical substances. In the present article, developments in BMD analysis from continuous experimental data are proposed. The suggested approach defines the BMD as the dose at which the slope of the S-shaped dose-response relationship changes the mos...

The aim of this work is to analyse Maximum Admissible Concentration (MAC) values proposed for irritants by the Group of Experts for Chemical Agents in Poland, based on the RD50 value. In 1994-2004, MAC values for irritants based on the RD50 value were set for 17 chemicals. For the purpose of the analysis, 1/10 RD50, 1/100 RD50 and the MAC/RD50 ratio were calculated. The determined MAC values ar...