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SLIDE 1

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊❧❧✐♣s✐s ❛♥❞ t❤❡ ◗✉❉✿ ❡✈✐❞❡♥❝❡ ❢r♦♠ s❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts

❚✐❧❧ P♦♣♣❡❧s ❛♥❞ ❆♥❞② ❑❡❤❧❡r ❯❈ ❙❛♥ ❉✐❡❣♦ ❖❝t ✷✻✱ ✷✵✶✾ ✭s❧✐❞❡s ❛✈❛✐❧❛❜❧❡ ❛t ❤tt♣✿✴✴t✐♥②✳❝❝✴♣♦♣♣❡❧s✲❝❛♠♣✮

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SLIDE 2

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤❛t ✐s ❡❧❧✐♣s✐s❄

◆❛t✉r❛❧ ❧❛♥❣✉❛❣❡s ❛❧❧♦✇ ✉s t♦ ❡❧✐❞❡ ♠❛t❡r✐❛❧ t❤❛t ✐s ♣r♦✈✐❞❡❞ ❝♦♥t❡①t✉❛❧❧②✿ ✭✶✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❆❧❧ ❧❛♥❣✉❛❣❡s s❡❡♠ ❛❧❧♦✇ s♦♠❡ ❢♦r♠s ♦❢ ❡❧❧✐♣s✐s✱ ❛♥❞ ✐t ✐s ❡❛s② t♦ s❡❡ ✇❤②✿

❊❧❧✐♣s✐s ✐s ❡✣❝✐❡♥t✿ s♣❡❛❦❡rs ❣❡t ❛✇❛② ✇✐t❤ r❡❞✉❝❡❞ ✉tt❡r❛♥❝❡s ✇❤✐❧❡ st✐❧❧ ❝♦♥✈❡②✐♥❣ ❝♦♠♣❧❡① ♠❡❛♥✐♥❣s✳ ❍❡❧♣s ❡st❛❜❧✐s❤ ❝♦♠♠♦♥ ❣r♦✉♥❞✿ ❜② ❡❧✐❞✐♥❣ ♠❛t❡r✐❛❧✱ s♣❡❛❦❡rs s✐❣♥❛❧ t❤❛t t❤❡② t❛❦❡ ✐t t♦ ❜❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞ ❛♥❞ t♦♣✐❝❛❧✳

❇✐❣ q✉❡st✐♦♥✿ ✇❤❛t ❛s♣❡❝ts ♦❢ t❤❡ ❝♦♥t❡①t ♠❛❦❡ ❡❧❧✐♣s✐s ♣♦ss✐❜❧❡❄ ❚❤✐s t❛❧❦ ❢♦❝✉s❡s ♦♥ ✏s❧✉✐❝✐♥❣✿✑ ❡❧❧✐♣s✐s ♦❢ ❝❧❛✉s❡s t❤❛t ❛r❡ ❡♠❜❡❞❞❡❞ ✉♥❞❡r ✐♥t❡rr♦❣❛t✐✈❡ ✇❤✲♣❤r❛s❡s✱ ❛s s❤♦✇♥ ✐♥ ✭✶✮✳

slide-3
SLIDE 3

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤❛t ✐s ❡❧❧✐♣s✐s❄

◆❛t✉r❛❧ ❧❛♥❣✉❛❣❡s ❛❧❧♦✇ ✉s t♦ ❡❧✐❞❡ ♠❛t❡r✐❛❧ t❤❛t ✐s ♣r♦✈✐❞❡❞ ❝♦♥t❡①t✉❛❧❧②✿ ✭✶✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❆❧❧ ❧❛♥❣✉❛❣❡s s❡❡♠ ❛❧❧♦✇ s♦♠❡ ❢♦r♠s ♦❢ ❡❧❧✐♣s✐s✱ ❛♥❞ ✐t ✐s ❡❛s② t♦ s❡❡ ✇❤②✿

❊❧❧✐♣s✐s ✐s ❡✣❝✐❡♥t✿ s♣❡❛❦❡rs ❣❡t ❛✇❛② ✇✐t❤ r❡❞✉❝❡❞ ✉tt❡r❛♥❝❡s ✇❤✐❧❡ st✐❧❧ ❝♦♥✈❡②✐♥❣ ❝♦♠♣❧❡① ♠❡❛♥✐♥❣s✳ ❍❡❧♣s ❡st❛❜❧✐s❤ ❝♦♠♠♦♥ ❣r♦✉♥❞✿ ❜② ❡❧✐❞✐♥❣ ♠❛t❡r✐❛❧✱ s♣❡❛❦❡rs s✐❣♥❛❧ t❤❛t t❤❡② t❛❦❡ ✐t t♦ ❜❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞ ❛♥❞ t♦♣✐❝❛❧✳

❇✐❣ q✉❡st✐♦♥✿ ✇❤❛t ❛s♣❡❝ts ♦❢ t❤❡ ❝♦♥t❡①t ♠❛❦❡ ❡❧❧✐♣s✐s ♣♦ss✐❜❧❡❄ ❚❤✐s t❛❧❦ ❢♦❝✉s❡s ♦♥ ✏s❧✉✐❝✐♥❣✿✑ ❡❧❧✐♣s✐s ♦❢ ❝❧❛✉s❡s t❤❛t ❛r❡ ❡♠❜❡❞❞❡❞ ✉♥❞❡r ✐♥t❡rr♦❣❛t✐✈❡ ✇❤✲♣❤r❛s❡s✱ ❛s s❤♦✇♥ ✐♥ ✭✶✮✳

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SLIDE 4

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤❛t ✐s ❡❧❧✐♣s✐s❄

◆❛t✉r❛❧ ❧❛♥❣✉❛❣❡s ❛❧❧♦✇ ✉s t♦ ❡❧✐❞❡ ♠❛t❡r✐❛❧ t❤❛t ✐s ♣r♦✈✐❞❡❞ ❝♦♥t❡①t✉❛❧❧②✿ ✭✶✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❆❧❧ ❧❛♥❣✉❛❣❡s s❡❡♠ ❛❧❧♦✇ s♦♠❡ ❢♦r♠s ♦❢ ❡❧❧✐♣s✐s✱ ❛♥❞ ✐t ✐s ❡❛s② t♦ s❡❡ ✇❤②✿

❊❧❧✐♣s✐s ✐s ❡✣❝✐❡♥t✿ s♣❡❛❦❡rs ❣❡t ❛✇❛② ✇✐t❤ r❡❞✉❝❡❞ ✉tt❡r❛♥❝❡s ✇❤✐❧❡ st✐❧❧ ❝♦♥✈❡②✐♥❣ ❝♦♠♣❧❡① ♠❡❛♥✐♥❣s✳ ❍❡❧♣s ❡st❛❜❧✐s❤ ❝♦♠♠♦♥ ❣r♦✉♥❞✿ ❜② ❡❧✐❞✐♥❣ ♠❛t❡r✐❛❧✱ s♣❡❛❦❡rs s✐❣♥❛❧ t❤❛t t❤❡② t❛❦❡ ✐t t♦ ❜❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞ ❛♥❞ t♦♣✐❝❛❧✳

❇✐❣ q✉❡st✐♦♥✿ ✇❤❛t ❛s♣❡❝ts ♦❢ t❤❡ ❝♦♥t❡①t ♠❛❦❡ ❡❧❧✐♣s✐s ♣♦ss✐❜❧❡❄ ❚❤✐s t❛❧❦ ❢♦❝✉s❡s ♦♥ ✏s❧✉✐❝✐♥❣✿✑ ❡❧❧✐♣s✐s ♦❢ ❝❧❛✉s❡s t❤❛t ❛r❡ ❡♠❜❡❞❞❡❞ ✉♥❞❡r ✐♥t❡rr♦❣❛t✐✈❡ ✇❤✲♣❤r❛s❡s✱ ❛s s❤♦✇♥ ✐♥ ✭✶✮✳

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SLIDE 5

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤❛t ✐s ❡❧❧✐♣s✐s❄

◆❛t✉r❛❧ ❧❛♥❣✉❛❣❡s ❛❧❧♦✇ ✉s t♦ ❡❧✐❞❡ ♠❛t❡r✐❛❧ t❤❛t ✐s ♣r♦✈✐❞❡❞ ❝♦♥t❡①t✉❛❧❧②✿ ✭✶✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳

  • ❆❧❧ ❧❛♥❣✉❛❣❡s s❡❡♠ ❛❧❧♦✇ s♦♠❡ ❢♦r♠s ♦❢ ❡❧❧✐♣s✐s✱ ❛♥❞ ✐t ✐s ❡❛s② t♦ s❡❡

✇❤②✿

❊❧❧✐♣s✐s ✐s ❡✣❝✐❡♥t✿ s♣❡❛❦❡rs ❣❡t ❛✇❛② ✇✐t❤ r❡❞✉❝❡❞ ✉tt❡r❛♥❝❡s ✇❤✐❧❡ st✐❧❧ ❝♦♥✈❡②✐♥❣ ❝♦♠♣❧❡① ♠❡❛♥✐♥❣s✳ ❍❡❧♣s ❡st❛❜❧✐s❤ ❝♦♠♠♦♥ ❣r♦✉♥❞✿ ❜② ❡❧✐❞✐♥❣ ♠❛t❡r✐❛❧✱ s♣❡❛❦❡rs s✐❣♥❛❧ t❤❛t t❤❡② t❛❦❡ ✐t t♦ ❜❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞ ❛♥❞ t♦♣✐❝❛❧✳

❇✐❣ q✉❡st✐♦♥✿ ✇❤❛t ❛s♣❡❝ts ♦❢ t❤❡ ❝♦♥t❡①t ♠❛❦❡ ❡❧❧✐♣s✐s ♣♦ss✐❜❧❡❄ ❚❤✐s t❛❧❦ ❢♦❝✉s❡s ♦♥ ✏s❧✉✐❝✐♥❣✿✑ ❡❧❧✐♣s✐s ♦❢ ❝❧❛✉s❡s t❤❛t ❛r❡ ❡♠❜❡❞❞❡❞ ✉♥❞❡r ✐♥t❡rr♦❣❛t✐✈❡ ✇❤✲♣❤r❛s❡s✱ ❛s s❤♦✇♥ ✐♥ ✭✶✮✳

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SLIDE 6

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤❛t ✐s ❡❧❧✐♣s✐s❄

◆❛t✉r❛❧ ❧❛♥❣✉❛❣❡s ❛❧❧♦✇ ✉s t♦ ❡❧✐❞❡ ♠❛t❡r✐❛❧ t❤❛t ✐s ♣r♦✈✐❞❡❞ ❝♦♥t❡①t✉❛❧❧②✿ ✭✶✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳

  • ❆❧❧ ❧❛♥❣✉❛❣❡s s❡❡♠ ❛❧❧♦✇ s♦♠❡ ❢♦r♠s ♦❢ ❡❧❧✐♣s✐s✱ ❛♥❞ ✐t ✐s ❡❛s② t♦ s❡❡

✇❤②✿

  • ❊❧❧✐♣s✐s ✐s ❡✣❝✐❡♥t✿ s♣❡❛❦❡rs ❣❡t ❛✇❛② ✇✐t❤ r❡❞✉❝❡❞ ✉tt❡r❛♥❝❡s ✇❤✐❧❡ st✐❧❧

❝♦♥✈❡②✐♥❣ ❝♦♠♣❧❡① ♠❡❛♥✐♥❣s✳

  • ❍❡❧♣s ❡st❛❜❧✐s❤ ❝♦♠♠♦♥ ❣r♦✉♥❞✿ ❜② ❡❧✐❞✐♥❣ ♠❛t❡r✐❛❧✱ s♣❡❛❦❡rs s✐❣♥❛❧ t❤❛t

t❤❡② t❛❦❡ ✐t t♦ ❜❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞ ❛♥❞ t♦♣✐❝❛❧✳

❇✐❣ q✉❡st✐♦♥✿ ✇❤❛t ❛s♣❡❝ts ♦❢ t❤❡ ❝♦♥t❡①t ♠❛❦❡ ❡❧❧✐♣s✐s ♣♦ss✐❜❧❡❄ ❚❤✐s t❛❧❦ ❢♦❝✉s❡s ♦♥ ✏s❧✉✐❝✐♥❣✿✑ ❡❧❧✐♣s✐s ♦❢ ❝❧❛✉s❡s t❤❛t ❛r❡ ❡♠❜❡❞❞❡❞ ✉♥❞❡r ✐♥t❡rr♦❣❛t✐✈❡ ✇❤✲♣❤r❛s❡s✱ ❛s s❤♦✇♥ ✐♥ ✭✶✮✳

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SLIDE 7

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤❛t ✐s ❡❧❧✐♣s✐s❄

◆❛t✉r❛❧ ❧❛♥❣✉❛❣❡s ❛❧❧♦✇ ✉s t♦ ❡❧✐❞❡ ♠❛t❡r✐❛❧ t❤❛t ✐s ♣r♦✈✐❞❡❞ ❝♦♥t❡①t✉❛❧❧②✿ ✭✶✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳

  • ❆❧❧ ❧❛♥❣✉❛❣❡s s❡❡♠ ❛❧❧♦✇ s♦♠❡ ❢♦r♠s ♦❢ ❡❧❧✐♣s✐s✱ ❛♥❞ ✐t ✐s ❡❛s② t♦ s❡❡

✇❤②✿

  • ❊❧❧✐♣s✐s ✐s ❡✣❝✐❡♥t✿ s♣❡❛❦❡rs ❣❡t ❛✇❛② ✇✐t❤ r❡❞✉❝❡❞ ✉tt❡r❛♥❝❡s ✇❤✐❧❡ st✐❧❧

❝♦♥✈❡②✐♥❣ ❝♦♠♣❧❡① ♠❡❛♥✐♥❣s✳

  • ❍❡❧♣s ❡st❛❜❧✐s❤ ❝♦♠♠♦♥ ❣r♦✉♥❞✿ ❜② ❡❧✐❞✐♥❣ ♠❛t❡r✐❛❧✱ s♣❡❛❦❡rs s✐❣♥❛❧ t❤❛t

t❤❡② t❛❦❡ ✐t t♦ ❜❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞ ❛♥❞ t♦♣✐❝❛❧✳

  • ❇✐❣ q✉❡st✐♦♥✿ ✇❤❛t ❛s♣❡❝ts ♦❢ t❤❡ ❝♦♥t❡①t ♠❛❦❡ ❡❧❧✐♣s✐s ♣♦ss✐❜❧❡❄

❚❤✐s t❛❧❦ ❢♦❝✉s❡s ♦♥ ✏s❧✉✐❝✐♥❣✿✑ ❡❧❧✐♣s✐s ♦❢ ❝❧❛✉s❡s t❤❛t ❛r❡ ❡♠❜❡❞❞❡❞ ✉♥❞❡r ✐♥t❡rr♦❣❛t✐✈❡ ✇❤✲♣❤r❛s❡s✱ ❛s s❤♦✇♥ ✐♥ ✭✶✮✳

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SLIDE 8

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤❛t ✐s ❡❧❧✐♣s✐s❄

◆❛t✉r❛❧ ❧❛♥❣✉❛❣❡s ❛❧❧♦✇ ✉s t♦ ❡❧✐❞❡ ♠❛t❡r✐❛❧ t❤❛t ✐s ♣r♦✈✐❞❡❞ ❝♦♥t❡①t✉❛❧❧②✿ ✭✶✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳

  • ❆❧❧ ❧❛♥❣✉❛❣❡s s❡❡♠ ❛❧❧♦✇ s♦♠❡ ❢♦r♠s ♦❢ ❡❧❧✐♣s✐s✱ ❛♥❞ ✐t ✐s ❡❛s② t♦ s❡❡

✇❤②✿

  • ❊❧❧✐♣s✐s ✐s ❡✣❝✐❡♥t✿ s♣❡❛❦❡rs ❣❡t ❛✇❛② ✇✐t❤ r❡❞✉❝❡❞ ✉tt❡r❛♥❝❡s ✇❤✐❧❡ st✐❧❧

❝♦♥✈❡②✐♥❣ ❝♦♠♣❧❡① ♠❡❛♥✐♥❣s✳

  • ❍❡❧♣s ❡st❛❜❧✐s❤ ❝♦♠♠♦♥ ❣r♦✉♥❞✿ ❜② ❡❧✐❞✐♥❣ ♠❛t❡r✐❛❧✱ s♣❡❛❦❡rs s✐❣♥❛❧ t❤❛t

t❤❡② t❛❦❡ ✐t t♦ ❜❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞ ❛♥❞ t♦♣✐❝❛❧✳

  • ❇✐❣ q✉❡st✐♦♥✿ ✇❤❛t ❛s♣❡❝ts ♦❢ t❤❡ ❝♦♥t❡①t ♠❛❦❡ ❡❧❧✐♣s✐s ♣♦ss✐❜❧❡❄
  • ❚❤✐s t❛❧❦ ❢♦❝✉s❡s ♦♥ ✏s❧✉✐❝✐♥❣✿✑ ❡❧❧✐♣s✐s ♦❢ ❝❧❛✉s❡s t❤❛t ❛r❡ ❡♠❜❡❞❞❡❞

✉♥❞❡r ✐♥t❡rr♦❣❛t✐✈❡ ✇❤✲♣❤r❛s❡s✱ ❛s s❤♦✇♥ ✐♥ ✭✶✮✳

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SLIDE 9

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s

✭❡✳❣✳ ❈❤✉♥❣✱ ✷✵✵✻✱ ✷✵✶✸❀ ▼❡r❝❤❛♥t✱ ✷✵✵✶❀ ❘✉❞✐♥✱ ✷✵✶✾❀ ❙❛❣✱ ✶✾✼✻✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ▼❛t❡r✐❛❧ ❝❛♥ ♦♥❧② ❜❡ ❡❧✐❞❡❞ ✐❢ ✐t ✐s ✐❞❡♥t✐❝❛❧ t♦ ✐ts ❛♥t❡❝❡❞❡♥t✳ ❈♦❧❧❛♣s✐♥❣ ❝♦♠♠♦♥ ❞✐st✐♥❝t✐♦♥s✿

s❡♠❛♥t✐❝ ✈s✳ s②♥t❛❝t✐❝ ✐❞❡♥t✐t② r❡❝♦♥str✉❝t✐♦♥ ✈s✳ ❞❡❧❡t✐♦♥

❑❡② ♣r♦♣❡rt② ❢♦r ♠② ♣✉r♣♦s❡s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s ❛✐♠ t♦ r❡❞✉❝❡ t❤❡ ❡✛❡❝t ♦❢ t❤❡ ❝♦♥t❡①t t♦ t❤❡ ❧✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✭✷✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳

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SLIDE 10

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s

✭❡✳❣✳ ❈❤✉♥❣✱ ✷✵✵✻✱ ✷✵✶✸❀ ▼❡r❝❤❛♥t✱ ✷✵✵✶❀ ❘✉❞✐♥✱ ✷✵✶✾❀ ❙❛❣✱ ✶✾✼✻✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ▼❛t❡r✐❛❧ ❝❛♥ ♦♥❧② ❜❡ ❡❧✐❞❡❞ ✐❢ ✐t ✐s ✐❞❡♥t✐❝❛❧ t♦ ✐ts ❛♥t❡❝❡❞❡♥t✳ ❈♦❧❧❛♣s✐♥❣ ❝♦♠♠♦♥ ❞✐st✐♥❝t✐♦♥s✿

s❡♠❛♥t✐❝ ✈s✳ s②♥t❛❝t✐❝ ✐❞❡♥t✐t② r❡❝♦♥str✉❝t✐♦♥ ✈s✳ ❞❡❧❡t✐♦♥

❑❡② ♣r♦♣❡rt② ❢♦r ♠② ♣✉r♣♦s❡s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s ❛✐♠ t♦ r❡❞✉❝❡ t❤❡ ❡✛❡❝t ♦❢ t❤❡ ❝♦♥t❡①t t♦ t❤❡ ❧✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✭✷✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳

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SLIDE 11

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s

✭❡✳❣✳ ❈❤✉♥❣✱ ✷✵✵✻✱ ✷✵✶✸❀ ▼❡r❝❤❛♥t✱ ✷✵✵✶❀ ❘✉❞✐♥✱ ✷✵✶✾❀ ❙❛❣✱ ✶✾✼✻✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ▼❛t❡r✐❛❧ ❝❛♥ ♦♥❧② ❜❡ ❡❧✐❞❡❞ ✐❢ ✐t ✐s ✐❞❡♥t✐❝❛❧ t♦ ✐ts ❛♥t❡❝❡❞❡♥t✳

  • ❈♦❧❧❛♣s✐♥❣ ❝♦♠♠♦♥ ❞✐st✐♥❝t✐♦♥s✿
  • s❡♠❛♥t✐❝ ✈s✳ s②♥t❛❝t✐❝ ✐❞❡♥t✐t②
  • r❡❝♦♥str✉❝t✐♦♥ ✈s✳ ❞❡❧❡t✐♦♥

❑❡② ♣r♦♣❡rt② ❢♦r ♠② ♣✉r♣♦s❡s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s ❛✐♠ t♦ r❡❞✉❝❡ t❤❡ ❡✛❡❝t ♦❢ t❤❡ ❝♦♥t❡①t t♦ t❤❡ ❧✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✭✷✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳

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SLIDE 12

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s

✭❡✳❣✳ ❈❤✉♥❣✱ ✷✵✵✻✱ ✷✵✶✸❀ ▼❡r❝❤❛♥t✱ ✷✵✵✶❀ ❘✉❞✐♥✱ ✷✵✶✾❀ ❙❛❣✱ ✶✾✼✻✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ▼❛t❡r✐❛❧ ❝❛♥ ♦♥❧② ❜❡ ❡❧✐❞❡❞ ✐❢ ✐t ✐s ✐❞❡♥t✐❝❛❧ t♦ ✐ts ❛♥t❡❝❡❞❡♥t✳

  • ❈♦❧❧❛♣s✐♥❣ ❝♦♠♠♦♥ ❞✐st✐♥❝t✐♦♥s✿
  • s❡♠❛♥t✐❝ ✈s✳ s②♥t❛❝t✐❝ ✐❞❡♥t✐t②
  • r❡❝♦♥str✉❝t✐♦♥ ✈s✳ ❞❡❧❡t✐♦♥
  • ❑❡② ♣r♦♣❡rt② ❢♦r ♠② ♣✉r♣♦s❡s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s ❛✐♠ t♦ r❡❞✉❝❡ t❤❡ ❡✛❡❝t

♦❢ t❤❡ ❝♦♥t❡①t t♦ t❤❡ ❧✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✭✷✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳

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SLIDE 13

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s

✭❡✳❣✳ ❈❤✉♥❣✱ ✷✵✵✻✱ ✷✵✶✸❀ ▼❡r❝❤❛♥t✱ ✷✵✵✶❀ ❘✉❞✐♥✱ ✷✵✶✾❀ ❙❛❣✱ ✶✾✼✻✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ▼❛t❡r✐❛❧ ❝❛♥ ♦♥❧② ❜❡ ❡❧✐❞❡❞ ✐❢ ✐t ✐s ✐❞❡♥t✐❝❛❧ t♦ ✐ts ❛♥t❡❝❡❞❡♥t✳

  • ❈♦❧❧❛♣s✐♥❣ ❝♦♠♠♦♥ ❞✐st✐♥❝t✐♦♥s✿
  • s❡♠❛♥t✐❝ ✈s✳ s②♥t❛❝t✐❝ ✐❞❡♥t✐t②
  • r❡❝♦♥str✉❝t✐♦♥ ✈s✳ ❞❡❧❡t✐♦♥
  • ❑❡② ♣r♦♣❡rt② ❢♦r ♠② ♣✉r♣♦s❡s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s ❛✐♠ t♦ r❡❞✉❝❡ t❤❡ ❡✛❡❝t

♦❢ t❤❡ ❝♦♥t❡①t t♦ t❤❡ ❧✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✭✷✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳

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SLIDE 14

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s

✭❡✳❣✳ ❈❤✉♥❣✱ ✷✵✵✻✱ ✷✵✶✸❀ ▼❡r❝❤❛♥t✱ ✷✵✵✶❀ ❘✉❞✐♥✱ ✷✵✶✾❀ ❙❛❣✱ ✶✾✼✻✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ▼❛t❡r✐❛❧ ❝❛♥ ♦♥❧② ❜❡ ❡❧✐❞❡❞ ✐❢ ✐t ✐s ✐❞❡♥t✐❝❛❧ t♦ ✐ts ❛♥t❡❝❡❞❡♥t✳

  • ❈♦❧❧❛♣s✐♥❣ ❝♦♠♠♦♥ ❞✐st✐♥❝t✐♦♥s✿
  • s❡♠❛♥t✐❝ ✈s✳ s②♥t❛❝t✐❝ ✐❞❡♥t✐t②
  • r❡❝♦♥str✉❝t✐♦♥ ✈s✳ ❞❡❧❡t✐♦♥
  • ❑❡② ♣r♦♣❡rt② ❢♦r ♠② ♣✉r♣♦s❡s✿ ■❞❡♥t✐t② t❤❡♦r✐❡s ❛✐♠ t♦ r❡❞✉❝❡ t❤❡ ❡✛❡❝t

♦❢ t❤❡ ❝♦♥t❡①t t♦ t❤❡ ❧✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✭✷✮ ❛✳ ❙♦♠❡♦♥❡ ♠✉r❞❡r❡❞ ❏♦❡ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ✭♠✉r❞❡r❡❞ ❤✐♠✮✳ ❜✳ ❏♦❡ ✇❛s ♠✉r❞❡r❡❞ ❜✉t ✇❡ ❞♦♥✬t ❦♥♦✇ ✇❤♦ ★✭♠✉r❞❡r❡❞ ❤✐♠✮✳

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SLIDE 15

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳ ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿

❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s ❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s ❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s ✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥

▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳ ❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿

❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts ✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮ ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮

◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛ s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

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SLIDE 16

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳ ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿

❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s ❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s ❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s ✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥

▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳ ❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿

❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts ✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮ ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮

◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛ s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

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SLIDE 17

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳

  • ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿

❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s ❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s ❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s ✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥

▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳ ❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿

❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts ✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮ ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮

◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛ s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

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SLIDE 18

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳

  • ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿
  • ❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s

❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s ❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s ✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥

▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳ ❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿

❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts ✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮ ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮

◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛ s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

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SLIDE 19

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳

  • ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿
  • ❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • ❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s

s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s ❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s ✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥

▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳ ❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿

❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts ✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮ ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮

◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛ s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

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SLIDE 20

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳

  • ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿
  • ❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • ❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s

❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s ✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥

▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳ ❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿

❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts ✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮ ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮

◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛ s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

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SLIDE 21

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳

  • ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿
  • ❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • ❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s
  • ❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s

✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥

▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳ ❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿

❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts ✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮ ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮

◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛ s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

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SLIDE 22

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳

  • ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿
  • ❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • ❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s
  • ❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s
  • ✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥

▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳ ❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿

❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts ✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮ ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮

◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛ s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

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SLIDE 23

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳

  • ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿
  • ❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • ❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s
  • ❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s
  • ✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥
  • ▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳

❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿

❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts ✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮ ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮

◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛ s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

slide-24
SLIDE 24

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳

  • ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿
  • ❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • ❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s
  • ❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s
  • ✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥
  • ▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳
  • ❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿
  • ❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts

✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮

  • ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮

◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛ s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

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SLIDE 25

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❡♦r✐❡s ♦❢ ❡❧❧✐♣s✐s✿ ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s

✭❡✳❣✳ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵❀ ❍❛r❞t✱ ✶✾✾✸❀ ❑❡❤❧❡r✱ ✷✵✶✾❀ ❲❡❜❜❡r✱ ✶✾✼✽✮

❈❡♥tr❛❧ ❝❧❛✐♠✿ ❊❧❧✐♣s✐s ✐♥✈♦❧✈❡s ❛ ♥✉❧❧ ♣r♦✲❢♦r♠ t❤❛t ♣r❡s✉♣♣♦s❡s t❤❛t ✐ts r❡❢❡r❡♥t ✐s t♦♣✐❝❛❧ ❛♥❞ ✉♥✐q✉❡❧② ✐❞❡♥t✐✜❛❜❧❡ ✐♥ ❝♦♠♠♦♥ ❣r♦✉♥❞✳

  • ❚r❡❛t✐♥❣ ❡❧❧✐♣s✐s ❛s ❞✐s❝♦✉rs❡ r❡❢❡r❡♥❝❡ ❡①♣❧❛✐♥s ❛♥❛♣❤♦r✐❝ ♣r♦♣❡rt✐❡s✿
  • ❝❛t❛♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • ❡①♦♣❤♦r✐❝ ❡❧❧✐♣s✐s
  • s♣❧✐t✲❛♥t❡❝❡❞❡♥t ❡❧❧✐♣s✐s
  • ❡❧❧✐♣s✐s s✐t❡s tr✐❣❣❡r✐♥❣ ✏s❧♦♣♣②✑ r❡❛❞✐♥❣s
  • ✐♥❢❡r❡♥t✐❛❧ ❡❧❧✐♣s✐s r❡s♦❧✉t✐♦♥
  • ▲✐♥❣✉✐st✐❝ ❛♥t❡❝❡❞❡♥t ✐s ✐♠♣♦rt❛♥t✿ ✐t ✐♥tr♦❞✉❝❡s t❤❡ r❡❢❡r❡♥t✳
  • ❇✉t s♦ ❛r❡ ♦t❤❡r ❢❛❝t♦rs✿
  • ❲♦r❧❞ ❦♥♦✇❧❡❞❣❡✿ ❡✳❣✳ ❜② ✐♥tr♦❞✉❝✐♥❣ s✐t✉❛t✐♦♥❛❧❧② ❡✈♦❦❡❞ r❡❢❡r❡♥ts

✭P♦♣♣❡❧s ✫ ❑❡❤❧❡r✱ ✷✵✶✼✮

  • ❆✈❛✐❧❛❜✐❧✐t② ♦❢ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗✉❉✮
  • ◗✉❉ ❤②♣♦t❤❡s✐s✿ q✉❡st✐♦♥s ❝❛♥ ❜❡ s❧✉✐❝❡❞ ✐✛ t❤❡② ❝♦rr❡s♣♦♥❞ t♦ ❛

s❛❧✐❡♥t ◗✉❉ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮

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SLIDE 26

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

P❧❛♥ ❢♦r t♦❞❛②

■♥t❡r✐♠ s✉♠♠❛r②✿

  • ✷ t②♣❡s ♦❢ t❤❡♦r✐❡s✿
  • ■❉❊◆❚■❚❨ t❤❡♦r✐❡s✿ ❡❧❧✐♣s✐s ❞❡♣❡♥❞s ❡①❝❧✉s✐✈❡❧② ♦♥ t❤❡ ❧✐♥❣✉✐st✐❝

❛♥t❡❝❡❞❡♥t

  • ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s✿ ♦t❤❡r ❢❛❝t♦rs ♠❛tt❡r✱ ❡✳❣✳ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬

◗✉❉ ❤②♣♦t❤❡s✐s✿ s❧✉✐❝✐♥❣ ❞❡♣❡♥❞s ♦♥ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ✭❡✳❣✳ ❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮ ❚❤✐s t❛❧❦✿ s❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❊①♣❡r✐♠❡♥t ✶✿ ❛❝❝❡♣t❛❜✐❧✐t② ❊①♣❡r✐♠❡♥t ✷✿ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ❊①♣❡r✐♠❡♥t ✸✿ ❛❝❝❡♣t❛❜✐❧✐t② ❛❣❛✐♥ Pr❡✈✐❡✇✿ ♦✉r r❡s✉❧ts r❛✐s❡ ♥♦✈❡❧ ❝❤❛❧❧❡♥❣❡s ❢♦r ❜♦t❤ ■❞❡♥t✐t② ❛♥❞ ◗✉❉ t❤❡♦r✐❡s

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SLIDE 27

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

P❧❛♥ ❢♦r t♦❞❛②

■♥t❡r✐♠ s✉♠♠❛r②✿

  • ✷ t②♣❡s ♦❢ t❤❡♦r✐❡s✿
  • ■❉❊◆❚■❚❨ t❤❡♦r✐❡s✿ ❡❧❧✐♣s✐s ❞❡♣❡♥❞s ❡①❝❧✉s✐✈❡❧② ♦♥ t❤❡ ❧✐♥❣✉✐st✐❝

❛♥t❡❝❡❞❡♥t

  • ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s✿ ♦t❤❡r ❢❛❝t♦rs ♠❛tt❡r✱ ❡✳❣✳ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬
  • ◗✉❉ ❤②♣♦t❤❡s✐s✿ s❧✉✐❝✐♥❣ ❞❡♣❡♥❞s ♦♥ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ✭❡✳❣✳ ❆♥❞❡r❇♦✐s✱

✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮ ❚❤✐s t❛❧❦✿ s❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❊①♣❡r✐♠❡♥t ✶✿ ❛❝❝❡♣t❛❜✐❧✐t② ❊①♣❡r✐♠❡♥t ✷✿ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ❊①♣❡r✐♠❡♥t ✸✿ ❛❝❝❡♣t❛❜✐❧✐t② ❛❣❛✐♥ Pr❡✈✐❡✇✿ ♦✉r r❡s✉❧ts r❛✐s❡ ♥♦✈❡❧ ❝❤❛❧❧❡♥❣❡s ❢♦r ❜♦t❤ ■❞❡♥t✐t② ❛♥❞ ◗✉❉ t❤❡♦r✐❡s

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SLIDE 28

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

P❧❛♥ ❢♦r t♦❞❛②

■♥t❡r✐♠ s✉♠♠❛r②✿

  • ✷ t②♣❡s ♦❢ t❤❡♦r✐❡s✿
  • ■❉❊◆❚■❚❨ t❤❡♦r✐❡s✿ ❡❧❧✐♣s✐s ❞❡♣❡♥❞s ❡①❝❧✉s✐✈❡❧② ♦♥ t❤❡ ❧✐♥❣✉✐st✐❝

❛♥t❡❝❡❞❡♥t

  • ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s✿ ♦t❤❡r ❢❛❝t♦rs ♠❛tt❡r✱ ❡✳❣✳ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬
  • ◗✉❉ ❤②♣♦t❤❡s✐s✿ s❧✉✐❝✐♥❣ ❞❡♣❡♥❞s ♦♥ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ✭❡✳❣✳ ❆♥❞❡r❇♦✐s✱

✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮ ❚❤✐s t❛❧❦✿ s❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❊①♣❡r✐♠❡♥t ✶✿ ❛❝❝❡♣t❛❜✐❧✐t② ❊①♣❡r✐♠❡♥t ✷✿ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ❊①♣❡r✐♠❡♥t ✸✿ ❛❝❝❡♣t❛❜✐❧✐t② ❛❣❛✐♥ Pr❡✈✐❡✇✿ ♦✉r r❡s✉❧ts r❛✐s❡ ♥♦✈❡❧ ❝❤❛❧❧❡♥❣❡s ❢♦r ❜♦t❤ ■❞❡♥t✐t② ❛♥❞ ◗✉❉ t❤❡♦r✐❡s

slide-29
SLIDE 29

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

P❧❛♥ ❢♦r t♦❞❛②

■♥t❡r✐♠ s✉♠♠❛r②✿

  • ✷ t②♣❡s ♦❢ t❤❡♦r✐❡s✿
  • ■❉❊◆❚■❚❨ t❤❡♦r✐❡s✿ ❡❧❧✐♣s✐s ❞❡♣❡♥❞s ❡①❝❧✉s✐✈❡❧② ♦♥ t❤❡ ❧✐♥❣✉✐st✐❝

❛♥t❡❝❡❞❡♥t

  • ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s✿ ♦t❤❡r ❢❛❝t♦rs ♠❛tt❡r✱ ❡✳❣✳ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬
  • ◗✉❉ ❤②♣♦t❤❡s✐s✿ s❧✉✐❝✐♥❣ ❞❡♣❡♥❞s ♦♥ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ✭❡✳❣✳ ❆♥❞❡r❇♦✐s✱

✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮ ❚❤✐s t❛❧❦✿ s❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts

  • ❊①♣❡r✐♠❡♥t ✶✿ ❛❝❝❡♣t❛❜✐❧✐t②
  • ❊①♣❡r✐♠❡♥t ✷✿ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬
  • ❊①♣❡r✐♠❡♥t ✸✿ ❛❝❝❡♣t❛❜✐❧✐t② ❛❣❛✐♥

Pr❡✈✐❡✇✿ ♦✉r r❡s✉❧ts r❛✐s❡ ♥♦✈❡❧ ❝❤❛❧❧❡♥❣❡s ❢♦r ❜♦t❤ ■❞❡♥t✐t② ❛♥❞ ◗✉❉ t❤❡♦r✐❡s

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SLIDE 30

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

P❧❛♥ ❢♦r t♦❞❛②

■♥t❡r✐♠ s✉♠♠❛r②✿

  • ✷ t②♣❡s ♦❢ t❤❡♦r✐❡s✿
  • ■❉❊◆❚■❚❨ t❤❡♦r✐❡s✿ ❡❧❧✐♣s✐s ❞❡♣❡♥❞s ❡①❝❧✉s✐✈❡❧② ♦♥ t❤❡ ❧✐♥❣✉✐st✐❝

❛♥t❡❝❡❞❡♥t

  • ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s✿ ♦t❤❡r ❢❛❝t♦rs ♠❛tt❡r✱ ❡✳❣✳ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬
  • ◗✉❉ ❤②♣♦t❤❡s✐s✿ s❧✉✐❝✐♥❣ ❞❡♣❡♥❞s ♦♥ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ✭❡✳❣✳ ❆♥❞❡r❇♦✐s✱

✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ●✐♥③❜✉r❣ ✫ ❙❛❣✱ ✷✵✵✵✮ ❚❤✐s t❛❧❦✿ s❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts

  • ❊①♣❡r✐♠❡♥t ✶✿ ❛❝❝❡♣t❛❜✐❧✐t②
  • ❊①♣❡r✐♠❡♥t ✷✿ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬
  • ❊①♣❡r✐♠❡♥t ✸✿ ❛❝❝❡♣t❛❜✐❧✐t② ❛❣❛✐♥
  • Pr❡✈✐❡✇✿ ♦✉r r❡s✉❧ts r❛✐s❡ ♥♦✈❡❧ ❝❤❛❧❧❡♥❣❡s ❢♦r ❜♦t❤ ■❞❡♥t✐t② ❛♥❞ ◗✉❉

t❤❡♦r✐❡s

slide-31
SLIDE 31

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤② ❧♦♦❦ ❛t ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts❄

❋r♦♠ P♦♣♣❡❧s ❛♥❞ ❑❡❤❧❡r ✭✷✵✶✾✮✿

And shortly after 3 pm is when you heard the explosion? −−−Yes, but I couldn't tell where. Apparently, the FBI knew about the bomb threat in advance. −−−But did they also know when? Are those the steaks that are on sale? −−−Yes, sir. How many? Can I borrow your textbook over the weekend? −−−Why? Can I get a few autographs? −−−Sure, how many? Can I get another drink on the house? −−−Tell me which one and I'll find out. Can I please see a card trick? −−−I'm sorry, I don't know how. Can we get something to eat that I like? −−−It depends on what. Can we see some sort of performance from you at the party tonight? −−−What type of performance? Could you sign up for my class next quarter? −−−Which one? Could you unload the dishwaster? −−−When? Did you not tell your friends about the game today? −−−I did, but I forgot to tell them where. Do you mind if I put on some music? −−−What kind of music? I really want to hear at least one Justin Bieber song before the night is over. −−−OK, I just have to figure out when. I think our son would do much better with a different math teacher. −−−That depends on who. I think the 49ers need a new quarterback. −−−Agreed, but who? I'd love to watch the ballgame on my phone while we're out. −−−No problem, I'll just have to remember how. If this company is to thrive in the long run, it needs a more aggressive CEO. −−−Well, tell me who and I'll take care of it. What's a phone number at which we can reach you? −−−Why? Would you mind turning the TV off? −−−Why? 1 2 3 4 5

Mean acceptability

✭✸✮ ❉✐❞ ②♦✉ ♥♦t t❡❧❧ ②♦✉r ❢r✐❡♥❞s ❛❜♦✉t t❤❡ ❣❛♠❡ t♦❞❛②❄ ✖■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠ ✇❤❡r❡ ✭t❤❡ ❣❛♠❡ ✇♦✉❧❞ ❜❡❀ ✐t ✇♦✉❧❞ t❛❦❡ ♣❧❛❝❡❀ ✳ ✳ ✳ ✮✳

slide-32
SLIDE 32

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤② ❧♦♦❦ ❛t ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts❄

❋r♦♠ P♦♣♣❡❧s ❛♥❞ ❑❡❤❧❡r ✭✷✵✶✾✮✿

And shortly after 3 pm is when you heard the explosion? −−−Yes, but I couldn't tell where. Apparently, the FBI knew about the bomb threat in advance. −−−But did they also know when? Are those the steaks that are on sale? −−−Yes, sir. How many? Can I borrow your textbook over the weekend? −−−Why? Can I get a few autographs? −−−Sure, how many? Can I get another drink on the house? −−−Tell me which one and I'll find out. Can I please see a card trick? −−−I'm sorry, I don't know how. Can we get something to eat that I like? −−−It depends on what. Can we see some sort of performance from you at the party tonight? −−−What type of performance? Could you sign up for my class next quarter? −−−Which one? Could you unload the dishwaster? −−−When? Did you not tell your friends about the game today? −−−I did, but I forgot to tell them where. Do you mind if I put on some music? −−−What kind of music? I really want to hear at least one Justin Bieber song before the night is over. −−−OK, I just have to figure out when. I think our son would do much better with a different math teacher. −−−That depends on who. I think the 49ers need a new quarterback. −−−Agreed, but who? I'd love to watch the ballgame on my phone while we're out. −−−No problem, I'll just have to remember how. If this company is to thrive in the long run, it needs a more aggressive CEO. −−−Well, tell me who and I'll take care of it. What's a phone number at which we can reach you? −−−Why? Would you mind turning the TV off? −−−Why? 1 2 3 4 5

Mean acceptability

✭✸✮ ❉✐❞ ②♦✉ ♥♦t t❡❧❧ ②♦✉r ❢r✐❡♥❞s ❛❜♦✉t t❤❡ ❣❛♠❡ t♦❞❛②❄ ✖■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠ ✇❤❡r❡ ✭t❤❡ ❣❛♠❡ ✇♦✉❧❞ ❜❡❀ ✐t ✇♦✉❧❞ t❛❦❡ ♣❧❛❝❡❀ ✳ ✳ ✳ ✮✳

slide-33
SLIDE 33

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤② ❧♦♦❦ ❛t ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts❄

❋r♦♠ P♦♣♣❡❧s ❛♥❞ ❑❡❤❧❡r ✭✷✵✶✾✮✿

And shortly after 3 pm is when you heard the explosion? −−−Yes, but I couldn't tell where. Apparently, the FBI knew about the bomb threat in advance. −−−But did they also know when? Are those the steaks that are on sale? −−−Yes, sir. How many? Can I borrow your textbook over the weekend? −−−Why? Can I get a few autographs? −−−Sure, how many? Can I get another drink on the house? −−−Tell me which one and I'll find out. Can I please see a card trick? −−−I'm sorry, I don't know how. Can we get something to eat that I like? −−−It depends on what. Can we see some sort of performance from you at the party tonight? −−−What type of performance? Could you sign up for my class next quarter? −−−Which one? Could you unload the dishwaster? −−−When? Did you not tell your friends about the game today? −−−I did, but I forgot to tell them where. Do you mind if I put on some music? −−−What kind of music? I really want to hear at least one Justin Bieber song before the night is over. −−−OK, I just have to figure out when. I think our son would do much better with a different math teacher. −−−That depends on who. I think the 49ers need a new quarterback. −−−Agreed, but who? I'd love to watch the ballgame on my phone while we're out. −−−No problem, I'll just have to remember how. If this company is to thrive in the long run, it needs a more aggressive CEO. −−−Well, tell me who and I'll take care of it. What's a phone number at which we can reach you? −−−Why? Would you mind turning the TV off? −−−Why? 1 2 3 4 5

Mean acceptability

✭✸✮ ❉✐❞ ②♦✉ ♥♦t t❡❧❧ ②♦✉r ❢r✐❡♥❞s ❛❜♦✉t t❤❡ ❣❛♠❡ t♦❞❛②❄ ✖■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠ ✇❤❡r❡ ✭t❤❡ ❣❛♠❡ ✇♦✉❧❞ ❜❡❀ ✐t ✇♦✉❧❞ t❛❦❡ ♣❧❛❝❡❀ ✳ ✳ ✳ ✮✳

slide-34
SLIDE 34

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤② ❧♦♦❦ ❛t ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ✭❝♦♥t✬❞✮❄

✭✹✮ ❉✐❞ ②♦✉ ♥♦t t❡❧❧ ②♦✉r ❢r✐❡♥❞s ❛❜♦✉t t❤❡ ❣❛♠❡ t♦❞❛②❄ ✖■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠ ✇❤❡r❡ ✭t❤❡ ❣❛♠❡ ✇♦✉❧❞ ❜❡❀ ✐t ✇♦✉❧❞ t❛❦❡ ♣❧❛❝❡❀ ✳ ✳ ✳ ✮✳

  • ❘❡♣r❡s❡♥t ❛ ❝❤❛❧❧❡♥❣❡ ❢♦r ■❉❊◆❚■❚❨ t❤❡♦r✐❡s✿ ❝❧❛✉s❡s = ♥♦♠✐♥❛❧s

❖♥❧② ♣r❡✈✐♦✉s ♠❡♥t✐♦♥ ✭t❤❛t ■ ❛♠ ❛✇❛r❡ ♦❢✮✿ ❇❡❡❝❤❡r ✭✷✵✵✼✮✳ ◆♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥t ❱P✲❡❧❧✐♣s✐s ❡①❤✐❜✐ts ◗❯❉ ❡✛❡❝ts ✭▼✐❧❧❡r ✫ ❍❡♠❢♦rt❤✱ ✷✵✶✹✮✿ ✭✺✮ ▼✉❜❛r❛❦✬s s✉r✈✐✈❛❧ ✐s ✐♠♣♦ss✐❜❧❡ t♦ ♣r❡❞✐❝t ❛♥❞✱ ❡✈❡♥ ✐❢ ❤❡ ❞♦❡s✱ ❤✐s ♣❧❛♥ t♦ ♠❛❦❡ ❤✐s s♦♥ ❤✐s ❤❡✐r ❛♣♣❛r❡♥t ✐s ♥♦✇ ✐♥ s❡r✐♦✉s ❥❡♦♣❛r❞②✳ ❬❈❖❈❆✿ ❈❇❙ ❊✈❡♥✐♥❣ ◆❡✇s❪

slide-35
SLIDE 35

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤② ❧♦♦❦ ❛t ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ✭❝♦♥t✬❞✮❄

✭✹✮ ❉✐❞ ②♦✉ ♥♦t t❡❧❧ ②♦✉r ❢r✐❡♥❞s ❛❜♦✉t t❤❡ ❣❛♠❡ t♦❞❛②❄ ✖■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠ ✇❤❡r❡ ✭t❤❡ ❣❛♠❡ ✇♦✉❧❞ ❜❡❀ ✐t ✇♦✉❧❞ t❛❦❡ ♣❧❛❝❡❀ ✳ ✳ ✳ ✮✳

  • ❘❡♣r❡s❡♥t ❛ ❝❤❛❧❧❡♥❣❡ ❢♦r ■❉❊◆❚■❚❨ t❤❡♦r✐❡s✿ ❝❧❛✉s❡s = ♥♦♠✐♥❛❧s
  • ❖♥❧② ♣r❡✈✐♦✉s ♠❡♥t✐♦♥ ✭t❤❛t ■ ❛♠ ❛✇❛r❡ ♦❢✮✿ ❇❡❡❝❤❡r ✭✷✵✵✼✮✳

◆♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥t ❱P✲❡❧❧✐♣s✐s ❡①❤✐❜✐ts ◗❯❉ ❡✛❡❝ts ✭▼✐❧❧❡r ✫ ❍❡♠❢♦rt❤✱ ✷✵✶✹✮✿ ✭✺✮ ▼✉❜❛r❛❦✬s s✉r✈✐✈❛❧ ✐s ✐♠♣♦ss✐❜❧❡ t♦ ♣r❡❞✐❝t ❛♥❞✱ ❡✈❡♥ ✐❢ ❤❡ ❞♦❡s✱ ❤✐s ♣❧❛♥ t♦ ♠❛❦❡ ❤✐s s♦♥ ❤✐s ❤❡✐r ❛♣♣❛r❡♥t ✐s ♥♦✇ ✐♥ s❡r✐♦✉s ❥❡♦♣❛r❞②✳ ❬❈❖❈❆✿ ❈❇❙ ❊✈❡♥✐♥❣ ◆❡✇s❪

slide-36
SLIDE 36

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❲❤② ❧♦♦❦ ❛t ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ✭❝♦♥t✬❞✮❄

✭✹✮ ❉✐❞ ②♦✉ ♥♦t t❡❧❧ ②♦✉r ❢r✐❡♥❞s ❛❜♦✉t t❤❡ ❣❛♠❡ t♦❞❛②❄ ✖■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠ ✇❤❡r❡ ✭t❤❡ ❣❛♠❡ ✇♦✉❧❞ ❜❡❀ ✐t ✇♦✉❧❞ t❛❦❡ ♣❧❛❝❡❀ ✳ ✳ ✳ ✮✳

  • ❘❡♣r❡s❡♥t ❛ ❝❤❛❧❧❡♥❣❡ ❢♦r ■❉❊◆❚■❚❨ t❤❡♦r✐❡s✿ ❝❧❛✉s❡s = ♥♦♠✐♥❛❧s
  • ❖♥❧② ♣r❡✈✐♦✉s ♠❡♥t✐♦♥ ✭t❤❛t ■ ❛♠ ❛✇❛r❡ ♦❢✮✿ ❇❡❡❝❤❡r ✭✷✵✵✼✮✳
  • ◆♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥t ❱P✲❡❧❧✐♣s✐s ❡①❤✐❜✐ts ◗❯❉ ❡✛❡❝ts ✭▼✐❧❧❡r ✫

❍❡♠❢♦rt❤✱ ✷✵✶✹✮✿ ✭✺✮ ▼✉❜❛r❛❦✬s s✉r✈✐✈❛❧ ✐s ✐♠♣♦ss✐❜❧❡ t♦ ♣r❡❞✐❝t ❛♥❞✱ ❡✈❡♥ ✐❢ ❤❡ ❞♦❡s✱ ❤✐s ♣❧❛♥ t♦ ♠❛❦❡ ❤✐s s♦♥ ❤✐s ❤❡✐r ❛♣♣❛r❡♥t ✐s ♥♦✇ ✐♥ s❡r✐♦✉s ❥❡♦♣❛r❞②✳ ❬❈❖❈❆✿ ❈❇❙ ❊✈❡♥✐♥❣ ◆❡✇s❪

slide-37
SLIDE 37

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✶

  • ♦❛❧✿ ♠❡❛s✉r❡ ❛❝❝❡♣t❛❜✐❧✐t② ♦❢ s❧✉✐❝❡s ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❧✐❦❡ ✭✻✮✿

✭✻✮ ❆✿ ■ ❝❛♥✬t s❡❡ ②♦✉r ♣❛r❡♥ts ✐♥ t❤❡ ❛✉❞✐❡♥❝❡✳ ❉✐❞ ②♦✉ ♥♦t t❡❧❧ t❤❡♠ ❛❜♦✉t ②♦✉r ♣❡r❢♦r♠❛♥❝❡ t♦❞❛②❄ ❇✿ ■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠ ④✇❤❡♥⑤✇❤❡r❡⑤✇❤❛t ❛❜♦✉t⑤❤♦✇ ❧♦♥❣⑤✇❤②⑥✳ ❙tr❛t❡❣②✿

❈❛r❡❢✉❧❧② ❞❡s✐❣♥ ❝♦♥t❡①ts t♦ ❡♥❛❜❧❡ ✶ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥t s❧✉✐❝❡ ✭❝❛✈❡❛t✿ s❡❧❡❝t✐♦♥ ❜✐❛s✦✮ ▼❡❝❤❛♥✐❝❛❧❧② s✉❜st✐t✉t❡ ♦t❤❡r ✇❤✲♣❤r❛s❡s t♦ ❝r❡❛t❡ ✈❛r✐❛❜✐❧✐t② ❚❡st ✐❢ ✈❛r✐❛❜✐❧✐t② ❝❛♥ ❜❡ ❡①♣❧❛✐♥❡❞ ✐♥ t❡r♠s ♦❢ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬

✸✵ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥ts s❧✉✐❝❡s ❧✐❦❡ ✭✻✮✿ ✻ ❝♦♥t❡①ts✱ ✺ ✇❤✲♣❤r❛s❡s✳ ✻✸ ♣❛rt✐❝✐♣❛♥ts✱ ✶✷ ✜❧❧❡rs ✭✷✿✶ r❛t✐♦✮

slide-38
SLIDE 38

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✶

  • ♦❛❧✿ ♠❡❛s✉r❡ ❛❝❝❡♣t❛❜✐❧✐t② ♦❢ s❧✉✐❝❡s ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❧✐❦❡ ✭✻✮✿

✭✻✮ ❆✿ ■ ❝❛♥✬t s❡❡ ②♦✉r ♣❛r❡♥ts ✐♥ t❤❡ ❛✉❞✐❡♥❝❡✳ ❉✐❞ ②♦✉ ♥♦t t❡❧❧ t❤❡♠ ❛❜♦✉t ②♦✉r ♣❡r❢♦r♠❛♥❝❡ t♦❞❛②❄ ❇✿ ■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠ ④✇❤❡♥⑤✇❤❡r❡⑤✇❤❛t ❛❜♦✉t⑤❤♦✇ ❧♦♥❣⑤✇❤②⑥✳ ❙tr❛t❡❣②✿

❈❛r❡❢✉❧❧② ❞❡s✐❣♥ ❝♦♥t❡①ts t♦ ❡♥❛❜❧❡ ✶ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥t s❧✉✐❝❡ ✭❝❛✈❡❛t✿ s❡❧❡❝t✐♦♥ ❜✐❛s✦✮ ▼❡❝❤❛♥✐❝❛❧❧② s✉❜st✐t✉t❡ ♦t❤❡r ✇❤✲♣❤r❛s❡s t♦ ❝r❡❛t❡ ✈❛r✐❛❜✐❧✐t② ❚❡st ✐❢ ✈❛r✐❛❜✐❧✐t② ❝❛♥ ❜❡ ❡①♣❧❛✐♥❡❞ ✐♥ t❡r♠s ♦❢ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬

✸✵ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥ts s❧✉✐❝❡s ❧✐❦❡ ✭✻✮✿ ✻ ❝♦♥t❡①ts✱ ✺ ✇❤✲♣❤r❛s❡s✳ ✻✸ ♣❛rt✐❝✐♣❛♥ts✱ ✶✷ ✜❧❧❡rs ✭✷✿✶ r❛t✐♦✮

slide-39
SLIDE 39

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✶

  • ♦❛❧✿ ♠❡❛s✉r❡ ❛❝❝❡♣t❛❜✐❧✐t② ♦❢ s❧✉✐❝❡s ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❧✐❦❡ ✭✻✮✿

✭✻✮ ❆✿ ■ ❝❛♥✬t s❡❡ ②♦✉r ♣❛r❡♥ts ✐♥ t❤❡ ❛✉❞✐❡♥❝❡✳ ❉✐❞ ②♦✉ ♥♦t t❡❧❧ t❤❡♠ ❛❜♦✉t ②♦✉r ♣❡r❢♦r♠❛♥❝❡ t♦❞❛②❄ ❇✿ ■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠ ④✇❤❡♥⑤✇❤❡r❡⑤✇❤❛t ❛❜♦✉t⑤❤♦✇ ❧♦♥❣⑤✇❤②⑥✳

  • ❙tr❛t❡❣②✿
  • ❈❛r❡❢✉❧❧② ❞❡s✐❣♥ ❝♦♥t❡①ts t♦ ❡♥❛❜❧❡ ✶ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥t s❧✉✐❝❡

✭❝❛✈❡❛t✿ s❡❧❡❝t✐♦♥ ❜✐❛s✦✮

  • ▼❡❝❤❛♥✐❝❛❧❧② s✉❜st✐t✉t❡ ♦t❤❡r ✇❤✲♣❤r❛s❡s t♦ ❝r❡❛t❡ ✈❛r✐❛❜✐❧✐t②
  • ❚❡st ✐❢ ✈❛r✐❛❜✐❧✐t② ❝❛♥ ❜❡ ❡①♣❧❛✐♥❡❞ ✐♥ t❡r♠s ♦❢ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬

✸✵ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥ts s❧✉✐❝❡s ❧✐❦❡ ✭✻✮✿ ✻ ❝♦♥t❡①ts✱ ✺ ✇❤✲♣❤r❛s❡s✳ ✻✸ ♣❛rt✐❝✐♣❛♥ts✱ ✶✷ ✜❧❧❡rs ✭✷✿✶ r❛t✐♦✮

slide-40
SLIDE 40

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✶

  • ♦❛❧✿ ♠❡❛s✉r❡ ❛❝❝❡♣t❛❜✐❧✐t② ♦❢ s❧✉✐❝❡s ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❧✐❦❡ ✭✻✮✿

✭✻✮ ❆✿ ■ ❝❛♥✬t s❡❡ ②♦✉r ♣❛r❡♥ts ✐♥ t❤❡ ❛✉❞✐❡♥❝❡✳ ❉✐❞ ②♦✉ ♥♦t t❡❧❧ t❤❡♠ ❛❜♦✉t ②♦✉r ♣❡r❢♦r♠❛♥❝❡ t♦❞❛②❄ ❇✿ ■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠ ④✇❤❡♥⑤✇❤❡r❡⑤✇❤❛t ❛❜♦✉t⑤❤♦✇ ❧♦♥❣⑤✇❤②⑥✳

  • ❙tr❛t❡❣②✿
  • ❈❛r❡❢✉❧❧② ❞❡s✐❣♥ ❝♦♥t❡①ts t♦ ❡♥❛❜❧❡ ✶ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥t s❧✉✐❝❡

✭❝❛✈❡❛t✿ s❡❧❡❝t✐♦♥ ❜✐❛s✦✮

  • ▼❡❝❤❛♥✐❝❛❧❧② s✉❜st✐t✉t❡ ♦t❤❡r ✇❤✲♣❤r❛s❡s t♦ ❝r❡❛t❡ ✈❛r✐❛❜✐❧✐t②
  • ❚❡st ✐❢ ✈❛r✐❛❜✐❧✐t② ❝❛♥ ❜❡ ❡①♣❧❛✐♥❡❞ ✐♥ t❡r♠s ♦❢ ✬◗✉❉ ❛✈❛✐❧❛❜✐❧✐t②✬
  • ✸✵ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥ts s❧✉✐❝❡s ❧✐❦❡ ✭✻✮✿ ✻ ❝♦♥t❡①ts✱ ✺ ✇❤✲♣❤r❛s❡s✳
  • ✻✸ ♣❛rt✐❝✐♣❛♥ts✱ ✶✷ ✜❧❧❡rs ✭✷✿✶ r❛t✐♦✮
slide-41
SLIDE 41

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✶✿ ❘❡s✉❧ts

1 2 3 4 5

Mean acceptability

lower−bound fillers nominal−antecedent sluices upper−bound fillers

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SLIDE 42

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✷

  • ◗✉❡st✐♦♥✿ ❝❛♥ ✇❡ ❡①♣❧❛✐♥ t❤✐s ❣r❛❞❛❜✐❧✐t②❄

❈❤❛❧❧❡♥❣✐♥❣ ❢♦r ■❉❊◆❚■❚❨ t❤❡♦r✐❡s ◗❯❉ t❤❡♦r✐❡s✿ s❧✉✐❝✐♥❣ ❞❡♣❡♥❞s ♦♥ t❤❡ ❛✈❛✐❧❛❜✐❧✐t② ♦❢ ❛ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗❯❉✮ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ❘♦❜❡rts✱ ✷✵✶✷✮ P❧❛♥ ❢♦r ❊①♣t ✷✿

▼❡❛s✉r❡ ♣r❡❞✐❝t❛❜❧✐t② ♦❢ s❧✉✐❝❡❞ q✉❡st✐♦♥ ✭◗❯❉✮ ❈❤❡❝❦ ✐❢ t❤✐s ✬◗❯❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ♠❡❛s✉r❡ ♣r❡❞✐❝ts ❛❝❝❡♣t❛❜✐❧✐t②

slide-43
SLIDE 43

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✷

  • ◗✉❡st✐♦♥✿ ❝❛♥ ✇❡ ❡①♣❧❛✐♥ t❤✐s ❣r❛❞❛❜✐❧✐t②❄
  • ❈❤❛❧❧❡♥❣✐♥❣ ❢♦r ■❉❊◆❚■❚❨ t❤❡♦r✐❡s

◗❯❉ t❤❡♦r✐❡s✿ s❧✉✐❝✐♥❣ ❞❡♣❡♥❞s ♦♥ t❤❡ ❛✈❛✐❧❛❜✐❧✐t② ♦❢ ❛ r❡❧❡✈❛♥t ◗✉❡st✐♦♥ ✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗❯❉✮ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ❘♦❜❡rts✱ ✷✵✶✷✮ P❧❛♥ ❢♦r ❊①♣t ✷✿

▼❡❛s✉r❡ ♣r❡❞✐❝t❛❜❧✐t② ♦❢ s❧✉✐❝❡❞ q✉❡st✐♦♥ ✭◗❯❉✮ ❈❤❡❝❦ ✐❢ t❤✐s ✬◗❯❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ♠❡❛s✉r❡ ♣r❡❞✐❝ts ❛❝❝❡♣t❛❜✐❧✐t②

slide-44
SLIDE 44

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✷

  • ◗✉❡st✐♦♥✿ ❝❛♥ ✇❡ ❡①♣❧❛✐♥ t❤✐s ❣r❛❞❛❜✐❧✐t②❄
  • ❈❤❛❧❧❡♥❣✐♥❣ ❢♦r ■❉❊◆❚■❚❨ t❤❡♦r✐❡s
  • ◗❯❉ t❤❡♦r✐❡s✿ s❧✉✐❝✐♥❣ ❞❡♣❡♥❞s ♦♥ t❤❡ ❛✈❛✐❧❛❜✐❧✐t② ♦❢ ❛ r❡❧❡✈❛♥t ◗✉❡st✐♦♥

✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗❯❉✮ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ❘♦❜❡rts✱ ✷✵✶✷✮ P❧❛♥ ❢♦r ❊①♣t ✷✿

▼❡❛s✉r❡ ♣r❡❞✐❝t❛❜❧✐t② ♦❢ s❧✉✐❝❡❞ q✉❡st✐♦♥ ✭◗❯❉✮ ❈❤❡❝❦ ✐❢ t❤✐s ✬◗❯❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ♠❡❛s✉r❡ ♣r❡❞✐❝ts ❛❝❝❡♣t❛❜✐❧✐t②

slide-45
SLIDE 45

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✷

  • ◗✉❡st✐♦♥✿ ❝❛♥ ✇❡ ❡①♣❧❛✐♥ t❤✐s ❣r❛❞❛❜✐❧✐t②❄
  • ❈❤❛❧❧❡♥❣✐♥❣ ❢♦r ■❉❊◆❚■❚❨ t❤❡♦r✐❡s
  • ◗❯❉ t❤❡♦r✐❡s✿ s❧✉✐❝✐♥❣ ❞❡♣❡♥❞s ♦♥ t❤❡ ❛✈❛✐❧❛❜✐❧✐t② ♦❢ ❛ r❡❧❡✈❛♥t ◗✉❡st✐♦♥

✉♥❞❡r ❉✐s❝✉ss✐♦♥ ✭◗❯❉✮ ✭❆♥❞❡r❇♦✐s✱ ✷✵✶✹❀ ❇❛rr♦s✱ ✷✵✶✹❀ ❘♦❜❡rts✱ ✷✵✶✷✮

  • P❧❛♥ ❢♦r ❊①♣t ✷✿
  • ▼❡❛s✉r❡ ♣r❡❞✐❝t❛❜❧✐t② ♦❢ s❧✉✐❝❡❞ q✉❡st✐♦♥ ✭◗❯❉✮
  • ❈❤❡❝❦ ✐❢ t❤✐s ✬◗❯❉ ❛✈❛✐❧❛❜✐❧✐t②✬ ♠❡❛s✉r❡ ♣r❡❞✐❝ts ❛❝❝❡♣t❛❜✐❧✐t②
slide-46
SLIDE 46

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✷✿ ♣❛ss❛❣❡✲❝♦♠♣❧❡t✐♦♥ t❛s❦

  • ❆♥s✇❡r ❝❤♦✐❝❡s✿ ♠♦❞❛❧ r❡s♣♦♥s❡ ✐♥ s❡♣❛r❛t❡ ♥♦r♠✐♥❣ ❡①♣❡r✐♠❡♥t ✐♥

✇❤✐❝❤ ♣❛rt✐❝✐♣❛♥ts ♣❛r❛♣❤r❛s❡❞ t❤❡ ❡❧❧✐♣s✐s s✐t❡

slide-47
SLIDE 47

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✷✿ ❘❡s✉❧ts

2.0 2.5 3.0 3.5 4.0 4.5 0.0 0.2 0.4 0.6 0.8

QUD availability Mean acceptability

slide-48
SLIDE 48

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✷✿ ❘❡s✉❧ts

  • 2.0

2.5 3.0 3.5 4.0 4.5 0.0 0.2 0.4 0.6 0.8

QUD availability Mean acceptability Mean pareto k

  • 0.2

0.3 0.4 0.5

  • ❋r❡q✉❡♥t✐st ❛♥❛❧②s✐s✿ β = ✶.✽✷✻, p = ✵.✵✸✼
  • ❇❛②❡s✐❛♥ ❛♥❛❧②s✐s✿ P(β > ✵) = ✵.✾✽✸
slide-49
SLIDE 49

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✸✿ r❡✈✐s✐t✐♥❣ ❛❝❝❡♣t❛❜✐❧✐t②

  • ♦❛❧✿ ❞❡t❡r♠✐♥❡ ✐❢ ◗❯❉ ❡✛❡❝t ✐s s♣❡❝✐✜❝ t♦ s❧✉✐❝✐♥❣✱ ❜② r❡♣❧✐❝❛t✐♥❣ ❊①♣t ✶

❛♥❞ ❛❞❞✐♥❣ ✉♥❡❧✐❞❡❞ ✈❛r✐❛♥ts ✭◆ ❂ ✶✺✸✮

slide-50
SLIDE 50

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✸✿ r❡✈✐s✐t✐♥❣ ❛❝❝❡♣t❛❜✐❧✐t②

  • ♦❛❧✿ ❞❡t❡r♠✐♥❡ ✐❢ ◗❯❉ ❡✛❡❝t ✐s s♣❡❝✐✜❝ t♦ s❧✉✐❝✐♥❣✱ ❜② r❡♣❧✐❝❛t✐♥❣ ❊①♣t ✶

❛♥❞ ❛❞❞✐♥❣ ✉♥❡❧✐❞❡❞ ✈❛r✐❛♥ts ✭◆ ❂ ✶✺✸✮

sluiced unelided 0.0 0.2 0.4 0.6 0.8 0.0 0.2 0.4 0.6 0.8 3 4 5

QUD availability Mean acceptability

slide-51
SLIDE 51

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❊①♣t ✸✿ r❡✈✐s✐t✐♥❣ ❛❝❝❡♣t❛❜✐❧✐t②

  • ♦❛❧✿ ❞❡t❡r♠✐♥❡ ✐❢ ◗❯❉ ❡✛❡❝t ✐s s♣❡❝✐✜❝ t♦ s❧✉✐❝✐♥❣✱ ❜② r❡♣❧✐❝❛t✐♥❣ ❊①♣t ✶

❛♥❞ ❛❞❞✐♥❣ ✉♥❡❧✐❞❡❞ ✈❛r✐❛♥ts ✭◆ ❂ ✶✺✸✮

  • sluiced

unelided 0.0 0.2 0.4 0.6 0.8 0.0 0.2 0.4 0.6 0.8 3 4 5

QUD availability Mean acceptability

  • ❘❡♣❧✐❝❛t✐♦♥ ♦❢ ◗❯❉ ❡✛❡❝t✿ P(β > ✵) = ✵.✾✾✽
  • ■♥t❡r❛❝t✐♦♥ ♥♦t s✐❣♥✐✜❝❛♥t✿ P(β < ✵) = ✵.✽✸✼
  • ◆♦ ❡✈✐❞❡♥❝❡ t❤❛t ◗✉❉ ❡✛❡❝t ✐s ❡❧❧✐♣s✐s✲s♣❡❝✐✜❝✦
slide-52
SLIDE 52

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❉✐s❝✉ss✐♦♥

1 2 3 4 5

Mean acceptability

  • sluiced

unelided 0.0 0.2 0.4 0.6 0.80.0 0.2 0.4 0.6 0.8 3 4 5

QUD availability Mean acceptability

  • ❊①♣t ✶✿
  • ❙♦♠❡ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥t s❧✉✐❝❡s ❛r❡ ✐♠♣❡❝❝❛❜❧❡✱ ♦t❤❡rs t❡rr✐❜❧❡✳
  • ❚❤✐s ♣❛tt❡r♥ ✐s ♣r♦❜❧❡♠❛t✐❝ ❢♦r ■❞❡♥t✐t② t❤❡♦r✐❡s✳
  • ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s st❛♥❞ ❛ ❜❡tt❡r ❝❤❛♥❝❡ ♦❢ ❡①♣❧❛✐♥✐♥❣ ✈❛r✐❛❜✐❧✐t②✱ s✐♥❝❡

t❤❡② r❡❝♦❣♥✐③❡ ♠✉❧t✐♣❧❡ ❢❛❝t♦rs ❛s ♣♦t❡♥t✐❛❧❧② r❡❧❡✈❛♥t✳

❊①♣ts ✷ ✫ ✸✿

❙♦♠❡ ♦❢ t❤❡ ✈❛r✐❛♥❝❡ ✐s ❞✉❡ t♦ ✈❛r✐❛t✐♦♥ ✐♥ ✬◗❯❉ ❛✈❛✐❧❛❜✐❧✐t②✬✳ ❍♦✇❡✈❡r✱ ◗❯❉ ❡✛❡❝t ✐s ♥♦t s♣❡❝✐✜❝ t♦ ❡❧❧✐♣s✐s✳

❇♦tt♦♠ ❧✐♥❡✿ s♦♠❡t❤✐♥❣ ❜❡②♦♥❞ ♣r❡❞✐❝t❛❜✐❧✐t② ✐s ❝♦♥str❛✐♥✐♥❣ ❡❧❧✐♣s✐s✳

slide-53
SLIDE 53

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❉✐s❝✉ss✐♦♥

1 2 3 4 5

Mean acceptability

  • sluiced

unelided 0.0 0.2 0.4 0.6 0.80.0 0.2 0.4 0.6 0.8 3 4 5

QUD availability Mean acceptability

  • ❊①♣t ✶✿
  • ❙♦♠❡ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥t s❧✉✐❝❡s ❛r❡ ✐♠♣❡❝❝❛❜❧❡✱ ♦t❤❡rs t❡rr✐❜❧❡✳
  • ❚❤✐s ♣❛tt❡r♥ ✐s ♣r♦❜❧❡♠❛t✐❝ ❢♦r ■❞❡♥t✐t② t❤❡♦r✐❡s✳
  • ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s st❛♥❞ ❛ ❜❡tt❡r ❝❤❛♥❝❡ ♦❢ ❡①♣❧❛✐♥✐♥❣ ✈❛r✐❛❜✐❧✐t②✱ s✐♥❝❡

t❤❡② r❡❝♦❣♥✐③❡ ♠✉❧t✐♣❧❡ ❢❛❝t♦rs ❛s ♣♦t❡♥t✐❛❧❧② r❡❧❡✈❛♥t✳

  • ❊①♣ts ✷ ✫ ✸✿
  • ❙♦♠❡ ♦❢ t❤❡ ✈❛r✐❛♥❝❡ ✐s ❞✉❡ t♦ ✈❛r✐❛t✐♦♥ ✐♥ ✬◗❯❉ ❛✈❛✐❧❛❜✐❧✐t②✬✳
  • ❍♦✇❡✈❡r✱ ◗❯❉ ❡✛❡❝t ✐s ♥♦t s♣❡❝✐✜❝ t♦ ❡❧❧✐♣s✐s✳

❇♦tt♦♠ ❧✐♥❡✿ s♦♠❡t❤✐♥❣ ❜❡②♦♥❞ ♣r❡❞✐❝t❛❜✐❧✐t② ✐s ❝♦♥str❛✐♥✐♥❣ ❡❧❧✐♣s✐s✳

slide-54
SLIDE 54

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❉✐s❝✉ss✐♦♥

1 2 3 4 5

Mean acceptability

  • sluiced

unelided 0.0 0.2 0.4 0.6 0.80.0 0.2 0.4 0.6 0.8 3 4 5

QUD availability Mean acceptability

  • ❊①♣t ✶✿
  • ❙♦♠❡ ♥♦♠✐♥❛❧✲❛♥t❡❝❡❞❡♥t s❧✉✐❝❡s ❛r❡ ✐♠♣❡❝❝❛❜❧❡✱ ♦t❤❡rs t❡rr✐❜❧❡✳
  • ❚❤✐s ♣❛tt❡r♥ ✐s ♣r♦❜❧❡♠❛t✐❝ ❢♦r ■❞❡♥t✐t② t❤❡♦r✐❡s✳
  • ❘❡❢❡r❡♥t✐❛❧ t❤❡♦r✐❡s st❛♥❞ ❛ ❜❡tt❡r ❝❤❛♥❝❡ ♦❢ ❡①♣❧❛✐♥✐♥❣ ✈❛r✐❛❜✐❧✐t②✱ s✐♥❝❡

t❤❡② r❡❝♦❣♥✐③❡ ♠✉❧t✐♣❧❡ ❢❛❝t♦rs ❛s ♣♦t❡♥t✐❛❧❧② r❡❧❡✈❛♥t✳

  • ❊①♣ts ✷ ✫ ✸✿
  • ❙♦♠❡ ♦❢ t❤❡ ✈❛r✐❛♥❝❡ ✐s ❞✉❡ t♦ ✈❛r✐❛t✐♦♥ ✐♥ ✬◗❯❉ ❛✈❛✐❧❛❜✐❧✐t②✬✳
  • ❍♦✇❡✈❡r✱ ◗❯❉ ❡✛❡❝t ✐s ♥♦t s♣❡❝✐✜❝ t♦ ❡❧❧✐♣s✐s✳
  • ❇♦tt♦♠ ❧✐♥❡✿ s♦♠❡t❤✐♥❣ ❜❡②♦♥❞ ♣r❡❞✐❝t❛❜✐❧✐t② ✐s ❝♦♥str❛✐♥✐♥❣ ❡❧❧✐♣s✐s✳
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SLIDE 55

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

P❛rt❡❡✬s ♠❛r❜❧❡s

✭✼✮ ■ ❞r♦♣♣❡❞ ✶✵ ♠❛r❜❧❡s ❛♥❞ ■ ♦♥❧② ❢♦✉♥❞ ✾ ♦❢ t❤❡♠✳ ★■t ♠✉st ❜❡ ✉♥❞❡r t❤❡ s♦❢❛✳ ❊✈❡♥ t❤♦✉❣❤ t❤❡ ♠✐ss✐♥❣ ♠❛r❜❧❡ ✐s ♠❛①✐♠❛❧❧② s❛❧✐❡♥t✱ ✐t ✐s ✐♥❢❡❧✐❝✐t♦✉s ✉♥❧❡ss t❤❡ ♠❛r❜❧❡ ✇❛s ✐♥tr♦❞✉❝❡❞ ❡①♣❧✐❝✐t❧②✳ ✭✽✮ ■ ❝❛♥✬t s❡❡ ②♦✉r ♣❛r❡♥ts ✐♥ t❤❡ ❛✉❞✐❡♥❝❡✱ ❞✐❞ ②♦✉ ♥♦t t❡❧❧ t❤❡♠ ❛❜♦✉t ②♦✉r ♣❡r❢♦r♠❛♥❝❡ t♦❞❛②❄ ✖■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠✳ ✳ ✳ ❛✳ ✳ ✳ ✳ ✇❤❡♥ ✭t❤❡ ♣❡r❢♦r♠❛♥❝❡ ✇❛s✮✳ ❜✳ ✳ ✳ ✳ ✇❤② ★✭t❤❡② s❤♦✉❧❞ ❜❡ t❤❡r❡✮✳ ❊✈❡♥ t❤♦✉❣❤ ❛ ♣❡r❢❡❝t❧② ❝♦❤❡r❡♥t ❝♦♥t✐♥✉❛t✐♦♥ ❡①✐sts ❢♦r ✭✽✲❜✮✱ s❧✉✐❝✐♥❣ ❛♣♣❡❛rs t♦ ♣♦✐♥t ✉s ❜❛❝❦ t♦ t❤❡ ❛♥t❡❝❡❞❡♥t ✭✐✳❡✳✱ t❤❡ ♣❡r❢♦r♠❛♥❝❡✮✳

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SLIDE 56

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

P❛rt❡❡✬s ♠❛r❜❧❡s

✭✼✮ ■ ❞r♦♣♣❡❞ ✶✵ ♠❛r❜❧❡s ❛♥❞ ■ ♦♥❧② ❢♦✉♥❞ ✾ ♦❢ t❤❡♠✳ ★■t ♠✉st ❜❡ ✉♥❞❡r t❤❡ s♦❢❛✳ ⇒ ❊✈❡♥ t❤♦✉❣❤ t❤❡ ♠✐ss✐♥❣ ♠❛r❜❧❡ ✐s ♠❛①✐♠❛❧❧② s❛❧✐❡♥t✱ ✐t ✐s ✐♥❢❡❧✐❝✐t♦✉s ✉♥❧❡ss t❤❡ ♠❛r❜❧❡ ✇❛s ✐♥tr♦❞✉❝❡❞ ❡①♣❧✐❝✐t❧②✳ ✭✽✮ ■ ❝❛♥✬t s❡❡ ②♦✉r ♣❛r❡♥ts ✐♥ t❤❡ ❛✉❞✐❡♥❝❡✱ ❞✐❞ ②♦✉ ♥♦t t❡❧❧ t❤❡♠ ❛❜♦✉t ②♦✉r ♣❡r❢♦r♠❛♥❝❡ t♦❞❛②❄ ✖■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠✳ ✳ ✳ ❛✳ ✳ ✳ ✳ ✇❤❡♥ ✭t❤❡ ♣❡r❢♦r♠❛♥❝❡ ✇❛s✮✳ ❜✳ ✳ ✳ ✳ ✇❤② ★✭t❤❡② s❤♦✉❧❞ ❜❡ t❤❡r❡✮✳ ❊✈❡♥ t❤♦✉❣❤ ❛ ♣❡r❢❡❝t❧② ❝♦❤❡r❡♥t ❝♦♥t✐♥✉❛t✐♦♥ ❡①✐sts ❢♦r ✭✽✲❜✮✱ s❧✉✐❝✐♥❣ ❛♣♣❡❛rs t♦ ♣♦✐♥t ✉s ❜❛❝❦ t♦ t❤❡ ❛♥t❡❝❡❞❡♥t ✭✐✳❡✳✱ t❤❡ ♣❡r❢♦r♠❛♥❝❡✮✳

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SLIDE 57

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

P❛rt❡❡✬s ♠❛r❜❧❡s

✭✼✮ ■ ❞r♦♣♣❡❞ ✶✵ ♠❛r❜❧❡s ❛♥❞ ■ ♦♥❧② ❢♦✉♥❞ ✾ ♦❢ t❤❡♠✳ ★■t ♠✉st ❜❡ ✉♥❞❡r t❤❡ s♦❢❛✳ ⇒ ❊✈❡♥ t❤♦✉❣❤ t❤❡ ♠✐ss✐♥❣ ♠❛r❜❧❡ ✐s ♠❛①✐♠❛❧❧② s❛❧✐❡♥t✱ ✐t ✐s ✐♥❢❡❧✐❝✐t♦✉s ✉♥❧❡ss t❤❡ ♠❛r❜❧❡ ✇❛s ✐♥tr♦❞✉❝❡❞ ❡①♣❧✐❝✐t❧②✳ ✭✽✮ ■ ❝❛♥✬t s❡❡ ②♦✉r ♣❛r❡♥ts ✐♥ t❤❡ ❛✉❞✐❡♥❝❡✱ ❞✐❞ ②♦✉ ♥♦t t❡❧❧ t❤❡♠ ❛❜♦✉t ②♦✉r ♣❡r❢♦r♠❛♥❝❡ t♦❞❛②❄ ✖■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠✳ ✳ ✳ ❛✳ ✳ ✳ ✳ ✇❤❡♥ ✭t❤❡ ♣❡r❢♦r♠❛♥❝❡ ✇❛s✮✳ ❜✳ ✳ ✳ ✳ ✇❤② ★✭t❤❡② s❤♦✉❧❞ ❜❡ t❤❡r❡✮✳ ❊✈❡♥ t❤♦✉❣❤ ❛ ♣❡r❢❡❝t❧② ❝♦❤❡r❡♥t ❝♦♥t✐♥✉❛t✐♦♥ ❡①✐sts ❢♦r ✭✽✲❜✮✱ s❧✉✐❝✐♥❣ ❛♣♣❡❛rs t♦ ♣♦✐♥t ✉s ❜❛❝❦ t♦ t❤❡ ❛♥t❡❝❡❞❡♥t ✭✐✳❡✳✱ t❤❡ ♣❡r❢♦r♠❛♥❝❡✮✳

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SLIDE 58

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

P❛rt❡❡✬s ♠❛r❜❧❡s

✭✼✮ ■ ❞r♦♣♣❡❞ ✶✵ ♠❛r❜❧❡s ❛♥❞ ■ ♦♥❧② ❢♦✉♥❞ ✾ ♦❢ t❤❡♠✳ ★■t ♠✉st ❜❡ ✉♥❞❡r t❤❡ s♦❢❛✳ ⇒ ❊✈❡♥ t❤♦✉❣❤ t❤❡ ♠✐ss✐♥❣ ♠❛r❜❧❡ ✐s ♠❛①✐♠❛❧❧② s❛❧✐❡♥t✱ ✐t ✐s ✐♥❢❡❧✐❝✐t♦✉s ✉♥❧❡ss t❤❡ ♠❛r❜❧❡ ✇❛s ✐♥tr♦❞✉❝❡❞ ❡①♣❧✐❝✐t❧②✳ ✭✽✮ ■ ❝❛♥✬t s❡❡ ②♦✉r ♣❛r❡♥ts ✐♥ t❤❡ ❛✉❞✐❡♥❝❡✱ ❞✐❞ ②♦✉ ♥♦t t❡❧❧ t❤❡♠ ❛❜♦✉t ②♦✉r ♣❡r❢♦r♠❛♥❝❡ t♦❞❛②❄ ✖■ ❞✐❞✱ ❜✉t ■ ❢♦r❣♦t t♦ t❡❧❧ t❤❡♠✳ ✳ ✳ ❛✳ ✳ ✳ ✳ ✇❤❡♥ ✭t❤❡ ♣❡r❢♦r♠❛♥❝❡ ✇❛s✮✳ ❜✳ ✳ ✳ ✳ ✇❤② ★✭t❤❡② s❤♦✉❧❞ ❜❡ t❤❡r❡✮✳ ⇒ ❊✈❡♥ t❤♦✉❣❤ ❛ ♣❡r❢❡❝t❧② ❝♦❤❡r❡♥t ❝♦♥t✐♥✉❛t✐♦♥ ❡①✐sts ❢♦r ✭✽✲❜✮✱ s❧✉✐❝✐♥❣ ❛♣♣❡❛rs t♦ ♣♦✐♥t ✉s ❜❛❝❦ t♦ t❤❡ ❛♥t❡❝❡❞❡♥t ✭✐✳❡✳✱ t❤❡ ♣❡r❢♦r♠❛♥❝❡✮✳

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SLIDE 59

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❚❤❛♥❦ ②♦✉✦

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SLIDE 60

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❘❡❢❡r❡♥❝❡s ■

❆♥❞❡r❇♦✐s✱ ❙✳ ✭✷✵✶✹✮✳ ❚❤❡ s❡♠❛♥t✐❝s ♦❢ s❧✉✐❝✐♥❣✿ ❇❡②♦♥❞ tr✉t❤ ❝♦♥❞✐t✐♦♥s✳ ▲❛♥❣✉❛❣❡✱ ✾✵✭✹✮✱ ✽✽✼✕✾✷✻✳ ❇❛rr♦s✱ ▼✳ ✭✷✵✶✹✮✳ ❙❧✉✐❝✐♥❣ ❛♥❞ ✐❞❡♥t✐t② ✐♥ ❡❧❧✐♣s✐s✳ ✭❉♦❝t♦r❛❧ ❞✐ss❡rt❛t✐♦♥✮✳ ❇❡❡❝❤❡r✱ ❍✳ ✭✷✵✵✼✮✳ Pr❛❣♠❛t✐❝ ✐♥❢❡r❡♥❝❡ ✐♥ t❤❡ ✐♥t❡r♣r❡t❛t✐♦♥ ♦❢ s❧✉✐❝❡❞ ♣r❡♣♦s✐t✐♦♥❛❧ ♣❤r❛s❡s✳ ■♥ Pr♦❝❡❡❞✐♥❣s ♦❢ t❤❡ ✜❢t❤ ✉♥✐✈❡rs✐t② ♦❢ ❝❛♠❜r✐❞❣❡ ♣♦st❣r❛❞✉❛t❡ ❝♦♥❢❡r❡♥❝❡ ✐♥ ❧❛♥❣✉❛❣❡ r❡s❡❛r❝❤ ✭♣♣✳ ✾✕✶✻✮✳ ❈✐t❡s❡❡r✳ ❈❤✉♥❣✱ ❙✳ ✭✷✵✵✻✮✳ ❙❧✉✐❝✐♥❣ ❛♥❞ t❤❡ ❧❡①✐❝♦♥✿ ❚❤❡ ♣♦✐♥t ♦❢ ♥♦ r❡t✉r♥✳ ■♥ Pr♦❝❡❡❞✐♥❣s ♦❢ t❤❡ ❛♥♥✉❛❧ ♠❡❡t✐♥❣ ♦❢ t❤❡ ❜❡r❦❡❧❡② ❧✐♥❣✉✐st✐❝s s♦❝✐❡t② ✭❱♦❧✳ ✸✶✱ ♣♣✳ ✼✸✕✾✶✮✳ ❇❡r❦❡❧❡② ▲✐♥❣✉✐st✐❝s ❙♦❝✐❡t② ❇❡r❦❡❧❡②✱ ❈❆✳ ❈❤✉♥❣✱ ❙✳ ✭✷✵✶✸✮✳ ❙②♥t❛❝t✐❝ ✐❞❡♥t✐t② ✐♥ s❧✉✐❝✐♥❣✿ ❍♦✇ ♠✉❝❤ ❛♥❞ ✇❤②✳ ▲✐♥❣✉✐st✐❝ ■♥q✉✐r②✱ ✹✹✭✶✮✱ ✶✕✹✹✳

  • ✐♥③❜✉r❣✱ ❏✳✱ ✫ ❙❛❣✱ ■✳ ✭✷✵✵✵✮✳ ■♥t❡rr♦❣❛t✐✈❡ ✐♥✈❡st✐❣❛t✐♦♥s✳ ❙t❛♥❢♦r❞✿ ❈❙▲■

♣✉❜❧✐❝❛t✐♦♥s✳

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SLIDE 61

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❘❡❢❡r❡♥❝❡s ■■

❍❛r❞t✱ ❉✳ ✭✶✾✾✸✮✳ ❱❡r❜ ♣❤r❛s❡ ❡❧❧✐♣s✐s✿ ❋♦r♠✱ ♠❡❛♥✐♥❣✱ ❛♥❞ ♣r♦❝❡ss✐♥❣✳ ❑❡❤❧❡r✱ ❆✳ ✭✷✵✶✾✮✳ ❊❧❧✐♣s✐s ❛♥❞ ❞✐s❝♦✉rs❡✳ ■♥ ❏✳ ✈❛♥ ❈r❛❡♥❡♥❜r♦❡❝❦ ✫ ❚✳ ❚❡♠♠❡r♠❛♥ ✭❊❞s✳✮✱ ❍❛♥❞❜♦♦❦ ♦❢ ❡❧❧✐♣s✐s ✭♣♣✳ ✸✶✹✕✸✹✶✮✳ ❖①❢♦r❞✿ ❖①❢♦r❞ ❯♥✐✈❡rs✐t② Pr❡ss✳ ▼❡r❝❤❛♥t✱ ❏✳ ✭✷✵✵✶✮✳ ❚❤❡ s②♥t❛① ♦❢ s✐❧❡♥❝❡✿ ❙❧✉✐❝✐♥❣✱ ✐s❧❛♥❞s✱ ❛♥❞ t❤❡ t❤❡♦r② ♦❢ ❡❧❧✐♣s✐s✳ ❖①❢♦r❞ ❯♥✐✈❡rs✐t② Pr❡ss ♦♥ ❉❡♠❛♥❞✳ ▼✐❧❧❡r✱ P✳✱ ✫ ❍❡♠❢♦rt❤✱ ❇✳ ✭✷✵✶✹✮✳ ❱❡r❜ ♣❤r❛s❡ ❡❧❧✐♣s✐s ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts✳ P♦♣♣❡❧s✱ ❚✳✱ ✫ ❑❡❤❧❡r✱ ❆✳ ✭✷✵✶✼✮✳ ❖✈❡r❝♦♠✐♥❣ t❤❡ ✐❞❡♥t✐t② ❝r✐s✐s✿ ◆♦✈❡❧ ❡✈✐❞❡♥❝❡ ❢♦r ❛ r❡❢❡r❡♥t✐❛❧ t❤❡♦r② ♦❢ ✈❡r❜ ♣❤r❛s❡ ❡❧❧✐♣s✐s✳ ■♥ Pr♦❝❡❡❞✐♥❣s ♦❢ t❤❡ ❛♥♥✉❛❧ ♠❡❡t✐♥❣ ♦❢ t❤❡ ❝❤✐❝❛❣♦ ❧✐♥❣✉✐st✐❝s s♦❝✐❡t② ✭❱♦❧✳ ✺✸✮✳ P♦♣♣❡❧s✱ ❚✳✱ ✫ ❑❡❤❧❡r✱ ❆✳ ✭✷✵✶✾✮✳ ❙❧✉✐❝✐♥❣ ✐♥❢❡rr❡❞ ♣r♦♣♦s✐t✐♦♥s✳ P♦st❡r t♦ ❜❡ ♣r❡s❡♥t❡❞ ❛t ❛ ✇♦r❦s❤♦♣ ❡♥t✐t❧❡❞ ✬❙❧✉✐❝✐♥❣ ❛♥❞ ❊❧❧✐♣s✐s ❛t ✺✵✬ ❛t t❤❡ ❯♥✐✈❡rs✐t② ♦❢ ❈❤✐❝❛❣♦✳

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SLIDE 62

■♥tr♦❞✉❝t✐♦♥ ✸ ❊①♣ts✿ ❙❧✉✐❝✐♥❣ ✇✐t❤ ♥♦♠✐♥❛❧ ❛♥t❡❝❡❞❡♥ts ❉✐s❝✉ss✐♦♥ ❘❡❢❡r❡♥❝❡s

❘❡❢❡r❡♥❝❡s ■■■

❘♦❜❡rts✱ ❈✳ ✭✷✵✶✷✮✳ ■♥❢♦r♠❛t✐♦♥ str✉❝t✉r❡ ✐♥ ❞✐s❝♦✉rs❡✿ ❚♦✇❛r❞s ❛♥ ✐♥t❡❣r❛t❡❞ ❢♦r♠❛❧ t❤❡♦r② ♦❢ ♣r❛❣♠❛t✐❝s✳ ❙❡♠❛♥t✐❝s ❛♥❞ Pr❛❣♠❛t✐❝s✱ ✺✭✻✮✱ ✶✕✻✾✳ ❞♦✐✿✶✵✳✸✼✻✺✴s♣✳✺✳✻ ❘✉❞✐♥✱ ❉✳ ✭✷✵✶✾✮✳ ❍❡❛❞✲❜❛s❡❞ s②♥t❛❝t✐❝ ✐❞❡♥t✐t② ✐♥ s❧✉✐❝✐♥❣✳ ▲✐♥❣✉✐st✐❝ ■♥q✉✐r②✱ ✺✵✭✷✮✱ ✷✺✸✕✷✽✸✳ ❙❛❣✱ ■✳ ❆✳ ✭✶✾✼✻✮✳ ❉❡❧❡t✐♦♥ ❛♥❞ ❧♦❣✐❝❛❧ ❢♦r♠✳ ✭❉♦❝t♦r❛❧ ❞✐ss❡rt❛t✐♦♥✱ ▼❛ss❛❝❤✉s❡tts ■♥st✐t✉t❡ ♦❢ ❚❡❝❤♥♦❧♦❣②✮✳ ❲❡❜❜❡r✱ ❇✳ ▲✳ ✭✶✾✼✽✮✳ ❆ ❢♦r♠❛❧ ❛♣♣r♦❛❝❤ t♦ ❞✐s❝♦✉rs❡ ❛♥❛♣❤♦r❛✳ ❇♦❧t ❇❡r❛♥❡❦ ❛♥❞ ◆❡✇♠❛♥✱ ■♥❝✳ ❈❛♠❜✐r❞❣❡✱ ▼❆✳