Book•
Intermediate microeconomics : A modern approach
01 Jan 2006-
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Abstract: This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.
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TL;DR: Scale Loss Score (SLoS) is proposed as a new tool for the benefit–risk assessment, which offers the same advantages as the linear multicriteria decision analysis utility score but has, in addition, desirable properties permitting to avoid recommendations of non-effective or extremely unsafe treatments.
Abstract: Quantitative methods have been proposed to assess and compare the benefit-risk balance of treatments. Among them, multicriteria decision analysis (MCDA) is a popular decision tool as it permits to summarise the benefits and the risks of a drug in a single utility score, accounting for the preferences of the decision-makers. However, the utility score is often derived using a linear model which might lead to counter-intuitive conclusions; for example, drugs with no benefit or extreme risk could be recommended. Moreover, it assumes that the relative importance of benefits against risks is constant for all levels of benefit or risk, which might not hold for all drugs. We propose Scale Loss Score (SLoS) as a new tool for the benefit-risk assessment, which offers the same advantages as the linear multicriteria decision analysis utility score but has, in addition, desirable properties permitting to avoid recommendations of non-effective or extremely unsafe treatments, and to tolerate larger increases in risk for a given increase in benefit when the amount of benefit is small than when it is high. We present an application to a real case study on telithromycin in Community Acquired Pneumonia and Acute Bacterial Sinusitis, and we investigated the patterns of behaviour of Scale Loss Score, as compared to the linear multicriteria decision analysis, in a comprehensive simulation study.
9 citations
Posted Content•
TL;DR: In this article, the authors model export taxation of a primary commodity in a large country under two hypotheses about the structure of its export market: perfect competition among exporters, where there is an indefinite number of buyers of the local product and at least a partial pass-through of international prices to local producers; and oligopsony, a market structure in some low-income countries where numerous scattered local producers face a few powerful exporters that can influence domestic prices.
Abstract: The paper models export taxation of a primary commodity in a large country under two hypotheses about the structure of its export market. The first is perfect competition among exporters, where there is an indefinite number of buyers of the local product and at least a partial pass-through of international prices to local producers. The second is an oligopsony, a market structure in some low-income countries where numerous scattered local producers face a few powerful exporters that can influence domestic prices. For both hypotheses, export taxation can be justified on efficiency grounds only for the country that adopts the tax. Designed correctly, a low export tax may be welfare-enhancing for that country but will always be welfare-reducing for its trading partners. The models of export taxation for both hypotheses are calibrated for the illustrative case of cocoa exports from Cote d’Ivoire.
9 citations
04 Jan 2015
TL;DR: The objective of the proposal is to build an unstructured overlay with the consideration of the MANET underlay topology, and simulation results show that the overlay likely-matches and fits the MANet underlay.
Abstract: In recent years, many researchers have focused on the deployment of Peer-To-Peer (or P2P) applications over Mobile-Adhoc NETworks (or MANETs) motivated by the common characteristics shared between the P2P overlay and the MANET underlay such as decentralization, self-organization and dynamic topology. However, conventional P2P overlays which consist on virtual connections between peers are usually constructed without considering the physical underlay. This causes a considerable mismatch between the P2P overlay and the network underlay and leads to unnecessary network traffic and inefficient paths between overlay neighbors. In this paper, we propose an adaptive overlay over MANET. The objective of our proposal is to build an unstructured overlay with the consideration of the MANET underlay topology. Simulation results show that our overlay likely-matches and fits the MANET underlay.
9 citations
Cites methods from "Intermediate microeconomics : A mod..."
...Utility u is calculated according to Cobb-Douglas utility function [14] represented as u = h ∗ e(1−α) where h is the physical distance between the corresponding peer in the cache entry and the peer holding the cache, e is the remaining energy of corresponding entry and α is a parameter indicating the preference of a nearer peer to a longerâĂŞlived one....
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01 Sep 2015
TL;DR: Several key features of software agents able to negotiate bilateral contracts in EMs are presented, paying special attention to risk management, forward contracts and contracts for difference (CFDs).
Abstract: Electricity markets (EMs) are a complex evolving reality -- new players and new business models are emerging and market rules are constantly changing. As EMs continue to evolve, there is a growing need for advanced modeling approaches that simulate the behavior of market participants, particularly how they may react to the economic, financial and regulatory changes that can occur in the environments in which they operate. This article presents several key features of software agents able to negotiate bilateral contracts in EMs, paying special attention to risk management, forward contracts and contracts for difference (CFDs). Also, it describes a set of case studies aiming at assessing the performance of CFDs as a risk management tool and comparing their performance to forward bilateral contracts.
9 citations