Posted by Neil Wyatt on 09/08/2017 19:52:01:
For studs subject to varying loads, it's best to make the unthreaded portion the same size as the thread's core size.
This is because if the central portion is thicker, varying loads cause the greatest distortion on the threaded portion which has more stress raisers and is more vulnerable to fatigue.
Doesn't apply to studs bearing static loads.
Neil
P.S. sorry Andrew 
You might think that a stud holding on for instance a cylinder head is subject to a varying stress. For reasons too arcane to go into here, if a stud is properly designed and properly preloaded, the stress varies very little during load cycling. My interpretation of necking studs to the core diameter is to make them stretch more, so that slight relaxation from whatever cause has less effect on load. Big end bolts on Merlin aero engines had a short full diameter bit at each end and level with the join twixt rod and cap to centralise the bolt and locate the cap, but were necked down in between. In this instance it would also very slightly reduce the weight
Similar reasoning had quality motorcycles like Velocette have long studs going through te cylinder into the crankcase to hold the heads on, inferior brands like Triumphs used separate short bolts. Having now put the cat amongst the pigeons I'll take the dog out
Edited By duncan webster on 10/08/2017 00:15:57