This paper contains an analysis of a simple principal-agent problem illustrating possible problems that may arise when the prinicpal ascribes to the agent subjective probabilities and utilities that are implied by the subjective expected utility model but do not represent the agent’s beliefs and valuations. In particular, it is possible that an incentive contract designed by the principal induc...

We study a model of non-Bayesian updating, based on the Hypothesis Testing model of Ortoleva (2012), for ambiguity averse agents. Agents ranks acts following the MaxMin Expected Utility model of Gilboa and Schmeidler (1989) and when they receive new information they update their set of priors as follows: If the information is such that all priors in the original set of priors assign to it a pro...

The transportation business sector, along with many others, has not, to a large extent, evaluated the possibility of gaining advantages through the use of more elaborated decision tools for operational decision making. This article presents a case study where an interval based decision tool was used for transportation business applications. The investigation was made in collaboration with a wel...

We discuss an economy which is subject to aggregate productivity shocks affecting all factors of production. The additional presence of income risk shifts the margin where agents save out of precautionary motives downwards, such that it does no longer correspond to logarithmic preferences.

Self-consistent field theory is used to study the self-assembly of a triblock copolymer melt. Two different external factors (temperature and solvent) are shown to affect the self-assembly. Either one or two-step self-assembly can be found as a function of temperature in the case of a neat triblock melt, or as a function of increasing solvent content (for non-selective solvents) in the case of ...

This paper performs new and more robust tests of the QALY model when health varies over time. Our tests do not involve confounding assumptions and are robust to violations of expected utility. Our results support the use of QALYs at the aggregate level, i.e. in economic evaluations of health care. At the individual level, there is less support for QALYs. The individual data are, however, largel...

Background: The present study aimed to investigate the presence of leptin mRNA transcript in epididymal spermatozoa of Holstein cattle by RT-PCR analysis. Materials and Methods: To collect sperm from epididymis, the whole testes of three adult Holstein bulls were quickly removed after slaughtering. Samples were transferred to the laboratory on ice and subsequently the epididymal contents were c...

Objectives: Metastatic melanoma has a poor prognosis with 10 year survival being < 5%. Standard therapy is the effective but costly Ipilimumab. An emerging 1st line treatment is Tumor Infiltrating Lymphocytes (TIL), with response rates > 50% and expected survival rates of 25%-42% versus 45% (1yr) and 23,5% (2yr) for Ipilimumab. TIL is highly personalized, however complex and requests substantia...

PURPOSE Black women with breast cancer are known to have poorer survival than white women. Suboptimal treatment may compromise the survival benefits of adjuvant chemotherapy. We analyzed the association of race and survival with duration of treatment and number of treatment cycles among women receiving chemotherapy for early-stage breast cancer. PATIENTS AND METHODS Patients were women in the...