Insurance for the poor, called microinsurance, has recently drawn the attention of practitioners in developing countries. However, there are common problems among the various schemes: (1) low take-up rates, (2) high claim rates, and (3) low renewal rates. In this paper, we investigate take-up decisions using household data collected in Karnataka, India, especially focusing on prospect theory, h...

M. Baraban,1 N. E. Bonesteel,2 and S. H. Simon3 1Department of Physics, Yale University, 217 Prospect Street, New Haven, Connecticut 06511, USA 2Department of Physics and National High Magnetic Field Laboratory, Florida State University, Tallahassee, Florida 32310, USA 3Rudolf Peierls Centre for Theoretical Physics, Oxford University, 1 Keble Road, Oxford OX1 3NP, United Kingdom (Received 24 Ma...

A comprehensive and critical in-depth discussion on the development prospect of several advanced materials for conversion CO2to value added chemicals is provided, together with their current status, technical feasibility future opportunities.

William Newell’s theory of interdisciplinary studies is a timely proposal since complexity is a keyword in contemporary descriptions of interdisciplinarity. Like any other theory, it is subject to a series of questions: (1) Is the theory generalizable, and is it reductive? (2) What relationship does it have to prior theories? (3) Does the theory drive practice, or vice versa? and (4) Is it frui...

In many theories of decision under risk (e.g., expected utility theory, rank-dependent utility theory, and prospect theory), the utility of a prospect is independent of other options in the choice set. The experiments presented here show a large effect of the available options, suggesting instead that prospects are valued relative to one another. The judged certainty equivalent for a prospect i...

We study dynamic international negotiations when: today’s bargaining outcome persists tomorrow unless renegotiated; one of the negotiating parties faces a threat of electoral replacement during negotiations, and agents cannot commit to future negotiation strategies. The prospect of future electoral replacement disciplines both initial proposal and acceptance strategies. When the prospect of ele...

Third generation prospect theory (Schmidt et al. J Risk Uncertain 36:203– 223, 2008) is a theory of choices and of judgments of highest buying and lowest selling prices of risky prospects, i.e., of willingness to pay (WTP) and willingness to accept (WTA). The gap betweenWTP andWTA is sometimes called the “endowment effect” and was previously called the “point of view” effect. Third generation p...

The prospect of using Λp correlations to extract source sizes in relativistic heavy ion collisions is investigated. It is found that the strong interaction induces a large peak in the correlation function that provides more sensitive source size measurements than pp correlations under some circumstances. The prospect of using Λp correlations to measure the time lag between lambda and proton emi...

Antisera prepared against 16 strains of hantaviruses isolated from patients with hemorrhagic fever with renal syndrome (HFRS) or from rodents captured in HFRS-endemic and nonendemic regions were titrated against Hantaan virus strain 76-118, Puumala virus strain Sotkamo, and Prospect Hill virus strain Prospect Hill-I by using the indirect immunofluorescent antibody and plaque reduction neutraliz...

In this paper, I present a marriage decision mechanism and apply the concepts of prospect theory to explain the marriage entry and exit choices of individuals. I derive several results regarding relationship choices under uncertainty. The theoretical setup demonstrates why prospect theory predicts a higher number of active relationships than expected utility theory, even if the relationship is ...