This Chapter extends some economic models that take advantage of a formalism inspired from statistical mechanics to account for social influence in individual decisions. Starting with a framework suggested by Durlauf, Blume and Brock, we introduce three classes of models shifting progressively from rational towards adaptive expectations. We discuss the risk and opportunity of transposing the to...

Modern industrialized populations lack the strong positive correlations between wealth and reproductive success that characterize most traditional societies. While modernization has brought about substantial increases in personal wealth, fertility in many developed countries has plummeted to the lowest levels in recorded human history. These phenomena contradict evolutionary and economic models...

Lack of valid economic data for artisan cheese making is a serious impediment to developing a realistic business plan and obtaining financing. The objective of this study was to determine approximate start-up and operating costs for an artisan cheese company. In addition, values are provided for the required size of processing and aging facilities associated with specific production volumes. Fo...

Groups and organizations face a fundamental problem: They need cooperation but their members have incentives to free ride. Empirical research on this problem has often been discouraging, and economic models suggest that solutions are unlikely or unstable. In contrast, the authors present a model and 4 studies that show that an unwaveringly consistent contributor can effectively catalyze coopera...

Arbitrage opportunities exist when it is possible to generate a nonnegative income stream without incurring any costs. This is, for instance, the case when it is possible to buy a portfolio of assets that costs nothing today and that will yield a positive payoff in the future. It is a widespread belief that, as long as there are no market frictions, arbitrage opportunities cannot exist. The rea...

Background Economic models in oncology are commonly based on the three-state partitioned survival model (PSM) distinguishing between progression-free and progressive states. However, the heterogeneity of responses observed in immuno-oncology (I-O) suggests that new approaches may be appropriate to reflect disease dynamics meaningfully. Materials and methods This study explored the impact of i...

OBJECTIVE The aim of this paper was to review and compare HIV vaccine cost-effectiveness analyses and describe the effects of uncertainty in model, methodology, and parameterization. METHODS We systematically searched MEDLINE (1985 through May 2016), EMBASE, the Tufts CEA Registry, and reference lists of articles following Cochrane guidelines and PRISMA reporting. Eligibility criteria include...

REDD can deliver additional near-term • emissions reductions that are critical for maintaining global options for stabilising GHG concentrations. Estimated costs of REDD vary with the • modelling approach used. However, all models indicate that cost savings from REDD could buy deeper and faster emissions cuts than would be achieved with the same global expenditure but without REDD. Cost-e ect...

BACKGROUND Parametric distributions based on individual patient data can be used to represent both stochastic and parameter uncertainty. Although general guidance is available on how parameter uncertainty should be accounted for in probabilistic sensitivity analysis, there is no comprehensive guidance on reflecting parameter uncertainty in the (correlated) parameters of distributions used to re...

The mechanics of behavior developed by Killeen (1994) is extended to deal with deprivation and satiation and with recovery of arousal at the beginning of sessions. The extended theory is validated against satiation curves and within-session changes in response rates. Anomalies, such as (a) the positive correlation between magnitude of an incentive and response rates in some contexts and a negat...