Stevens Institute of Technology

About: Stevens Institute of Technology is a education organization based out in Hoboken, New Jersey, United States. It is known for research contribution in the topics: Computer science & Cognitive radio. The organization has 5440 authors who have published 12684 publications receiving 296875 citations. The organization is also known as: Stevens & Stevens Tech.

Absorption of terahertz radiation by plasmon modes in a grid-gated double-quantum-well field-effect transistor

Abstract: The terahertz absorption spectrum of plasmon modes in a grid-gated double-quantum-well (DQW) field-effect transistor structure is analyzed theoretically and numerically using a first principles electromagnetic approach and is shown to faithfully reproduce important physical features of recent experimental observations. We find that the essential character of the response—multiple resonances corresponding to spatial harmonics of standing plasmons under the metal grating—is caused by the static spatial modulation of electron density in the channel. Higher order plasmon modes become more optically active as the depth of the electron density modulation in the DQW tends towards unity. The maximum absorbance, at plasma resonance, is shown to be 1/2. Furthermore, the strongest absorption also occurs when the standing plasmon resonance coincides with the fundamental dipole mode of the ungated portion of the channel.

Policy Watch; Alcohol and Cigarette Taxes

Abstract: Increased excise taxes on cigarettes and alcohol have been suggested as a means to finance (at least partially) the Clinton administration's proposed program of health care reform. We consider the revenue potential of cigarette and alcohol tax hikes and explore the effects on consumption and related outcomes. We present estimates of the social costs and implied optimal tax rates on cigarettes and alcohol. The bulk of the evidence presented here does support higher taxes on cigarettes and alcohol.

Do Envious CEOs Cause Merger Waves

Abstract: We develop a model in which CEOs envy each other based on their compensation. When CEO compensation is increasing in the firm's market value and size, we show that envy can cause merger waves even when the shock that precipitated the first merger in the wave is purely idiosyncratic. The analysis produces numerous predictions, some of which are as follows. First, the earlier acquisitions in a merger wave display higher synergies than the later acquisitions in the wave, so bidder returns will be higher for the earlier acquisitions. Second, earlier acquisitions in a merger wave involve smaller targets than later acquisitions. Third, the gain in compensation for the top management team of the acquiring firm should be higher for earlier acquisitions than for later acquisitions. Fourth, more envious CEOs are more likely to engage in acquisitions and pay higher premia. Fifth, an envy-generated merger wave is more likely in a bull stock market than in a bear market even when there is no mispricing that creates opportunities to time the market, so the quality of bull-market acquisitions is lower than that of bear-market acquisitions. Finally, controlling for the dispersion in firm values, the bull-market-versus-bear-market effect largely disappears. We test the first three predictions and find strong empirical support.