scholarly journals Welfare Consequences of Information Aggregation and Optimal Market Size

2017 ◽  
Vol 9 (4) ◽  
pp. 303-323 ◽  
Author(s):  
Kei Kawakami
Keyword(s):  
Asymmetric Information ◽  
Risk Aversion ◽  
Risk Sharing ◽  
Information Aggregation ◽  
Market Size ◽  
Positive Externality ◽  
Trading Model ◽  
Welfare Implications ◽  
The Right

We analyze the welfare implications of information aggregation in a trading model where traders have both idiosyncratic endowment risk and asymmetric information about security payoffs. The optimal market size balances two forces: (i) the risk-sharing role of markets, which creates a positive externality amongst traders, against (ii) the information-aggregation role of prices, which leads to prices that are more correlated with security payoffs, thereby undermining the hedging function of markets. Our analysis indicates that a market with infinitely many traders may not be the right welfare benchmark in the presence of risk aversion and information aggregation. (JEL D43, D62, D82, D83)

scholarly journals Attracting the Right Crowd under Asymmetric Information: A Game Theory Application to Rewards-Based Crowdfunding

Mathematics ◽  
2021 ◽  
Vol 9 (21) ◽  
pp. 2757
Author(s):  
Francisca Jiménez-Jiménez ◽  
M. Virtudes Alba-Fernández ◽  
Cristina Martínez-Gómez
Keyword(s):  
Game Theory ◽  
Asymmetric Information ◽  
Process Analysis ◽  
Market Size ◽  
Positive Effects ◽  
The Social ◽  
Theory Application ◽  
The Right ◽  
Conditional Process Analysis ◽  
The Relationship

In this paper, we investigate rewards-based crowdfunding as an innovative financing form for startups and firms. Based on game-theory models under asymmetric information, we test research hypotheses about the positive effects of two main campaign features: funding target and number of rewards. Furthermore, we examine how and when these characteristics are effective in attracting crowdfunders, by signaling high-quality projects (target) and by pricing according to backers’ preferences (rewards). Conditional process analysis is applied to a dataset of 1613 projects launched on the Spanish platform Verkami from 2015 to 2018. As expected, our study shows that market size is positively influenced by the target and the number of rewards, separately. Further analysis gives some interesting findings. Firstly, we find significant and positive mediating roles of social networks (in the relationship between target and market size) and of backers’ preferences (between rewards and market size). Secondly, the main orientation of a campaign, commercial or social, is relevant to explain previous relationships. While high funding targets are more effective in commercial projects, a high number of rewards is more effective in the social projects. This research provides new insights into the design of optimal crowdfunding, with theoretical and empirical implications.

The role of the right inferior frontal gyrus following reversal of consistent stimulus-stop mappings

2013 ◽  
Author(s):  
Maisy Best ◽  
Tobias Stevens ◽  
Fraser Milton ◽  
Christopher D. Chambers ◽  
Ian P. McLaren ◽  
...  
Keyword(s):  
Inferior Frontal Gyrus ◽  
The Right

Managing Landscape Irrigation to Avoid Soil and Nutrient Losses

EDIS ◽  
2013 ◽  
Vol 2013 (11) ◽  
Author(s):  
George Hochmuth ◽  
Laurie Trenholm ◽  
Don Rainey ◽  
Esen Momol ◽  
Claire Lewis ◽  
...  
Keyword(s):  
Natural Environment ◽  
Management Practices ◽  
Root Zone ◽  
Irrigation Management ◽  
Critical Factor ◽  
Nutrient Losses ◽  
County Agents ◽  
The Right ◽  
Soil And Water

Proper irrigation management is critical to conserve and protect water resources and to properly manage nutrients in the home landscape. How lawns and landscapes are irrigated directly impacts the natural environment, so landscape maintenance professionals and homeowners must adopt environmentally-friendly approaches to irrigation management. After selecting the right plant for the right place, water is the next critical factor to establish and maintain a healthy lawn and landscape. Fertilization is another important component of lawn and landscape maintenance, and irrigation must be applied correctly, especially following fertilization, to minimize potential nutrient losses. This publication supplements other UF/IFAS Extension publications that also include information on the role of soil and the root zone in irrigation management. This publication is designed to help UF/IFAS Extension county agents prepare materials to directly address nutrient losses from lawns and landscapes caused by inadequate irrigation management practices. This 6-page fact sheet was written by George Hochmuth, Laurie Trenholm, Don Rainey, Esen Momol, Claire Lewis, and Brian Niemann, and published by the UF Department of Soil and Water Science, October 2013. http://edis.ifas.ufl.edu/ss586

Formation of financial literacy in training of informatics teachers on the basis of the 1С:Enterprise system

2020 ◽  
Vol 1 (1) ◽  
pp. 11-18
Author(s):  
M. A. Rodionov ◽  
I. V. Akimova
Keyword(s):  
Financial Literacy ◽  
Basic Knowledge ◽  
State University ◽  
Science And Literature ◽  
Successful Development ◽  
Mathematics History ◽  
School Subjects ◽  
Personal Finances ◽  
The Right

In the submitted study the problem of the formation of financial literacy of students at informatics lessons and relevant training of future informatics teachers is considered. Financial literacy is understood as a set of basic knowledge in the field of finance, banking, insurance, as well as budgeting for personal finances that allow a person to choose the right financial product or service, soberly assess and take risks that may arise during the use of these products, correctly accumulate savings and identify doubtful (fraudulent) investment schemes. The authors conclude that successful development of meaningful lines of the course of financial literacy requires integration of a few school subjects, such as mathematics, history, informatics, social science and literature. The role of modern informatics teacher in the formation of financial literacy of students is great. Therefore, in the training of a future informatics teacher, it should be paid the attention to issues related to the study of elements of financial literacy in informatics lessons. In order to solve the problem, the authors propose to use the special course “Basics of work in 1С:Enterprise”, which is implemented at Penza State University. The article contains a program of the course and the methodological recommendations for its implementation.

The adaptation of design thinking in auditing

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Linda MEIJER-WASSENAAR ◽  
Diny VAN EST
Keyword(s):  
The Netherlands ◽  
Design Thinking ◽  
Public Organizations ◽  
Design Framework ◽  
The Right ◽  
The Way

How can a supreme audit institution (SAI) use design thinking in auditing? SAIs audit the way taxpayers’ money is collected and spent. Adding design thinking to their activities is not to be taken lightly. SAIs independently check whether public organizations have done the right things in the right way, but the organizations might not be willing to act upon a SAI’s recommendations. Can you imagine the role of design in audits? In this paper we share our experiences of some design approaches in the work of one SAI: the Netherlands Court of Audit (NCA). Design thinking needs to be adapted (Dorst, 2015a) before it can be used by SAIs such as the NCA in order to reflect their independent, autonomous status. To dive deeper into design thinking, Buchanan’s design framework (2015) and different ways of reasoning (Dorst, 2015b) are used to explore how design thinking can be adapted for audits.

QUO VADIS HUKUM ISLAM (ANTARA IDEALITAS DAN REALITAS INDONESIA)

2020 ◽  
Vol 8 (2) ◽  
pp. 97-108
Author(s):  
Dinda Izzati
Keyword(s):  
Political Rights ◽  
Right To Life ◽  
Economic Rights ◽  
Christian Communities ◽  
Basic Assumptions ◽  
Eastern Indonesia ◽  
The Republic ◽  
Quo Vadis ◽  
The Right

Evidently, a few months after the Jakarta Charter was signed, Christian circles from Eastern Indonesia submitted an ultimatum, if the seven words in the Jakarta Charter were still included in the Preamble to the 1945 Constitution, then the consequence was that they would not want to join the Republic of Indonesia. The main reason put forward by Pastor Octavian was that Indonesia was seen from its georaphical interests and structure, Western Indonesia was known as the base of Islamic camouflage, while eastern Indonesia was the basis for Christian communities. Oktavianus added that Christians as an integral part of this nation need to realize that they also have the right to life, religious rights, political rights, economic rights, the same rights to the nation and state as other citizens, who in fact are mostly Muslims. This paper aims to determine and understand the extent to which the basic assumptions of the Indonesian people view the role of Islam as presented in an exclusive format.

Lending to the Borrower from Hell

2017 ◽  
Author(s):  
Mauricio Drelichman ◽  
Hans-Joachim Voth
Keyword(s):  
United States ◽  
Sixteenth Century ◽  
Sovereign Debt ◽  
Risk Sharing ◽  
The United States ◽  
Philip Ii ◽  
Loan Contracts ◽  
The Right ◽  
Intelligent Model ◽  
New Evidence

Why do lenders time and again loan money to sovereign borrowers who promptly go bankrupt? When can this type of lending work? As the United States and many European nations struggle with mountains of debt, historical precedents can offer valuable insights. This book looks at one famous case—the debts and defaults of Philip II of Spain. Ruling over one of the largest and most powerful empires in history, King Philip defaulted four times. Yet he never lost access to capital markets and could borrow again within a year or two of each default. Exploring the shrewd reasoning of the lenders who continued to offer money, the book analyzes the lessons from this historical example. Using detailed new evidence collected from sixteenth-century archives, the book examines the incentives and returns of lenders. It provides powerful evidence that in the right situations, lenders not only survive despite defaults—they thrive. It also demonstrates that debt markets cope well, despite massive fluctuations in expenditure and revenue, when lending functions like insurance. The book unearths unique sixteenth-century loan contracts that offered highly effective risk sharing between the king and his lenders, with payment obligations reduced in bad times. A fascinating story of finance and empire, this book offers an intelligent model for keeping economies safe in times of sovereign debt crises and defaults.

The Role of Nurses in the Implementation of Patient Safety and Protection of Patient Rights at the Rahayu Yakkum Purwodadi Hospital

SOEPRA ◽  
2020 ◽  
Vol 5 (2) ◽  
pp. 254
Author(s):  
Christina Nur Widayati ◽  
Endang Wahyati Yustina ◽  
Hadi Sulistyanto
Keyword(s):  
Health Care ◽  
Patient Safety ◽  
Codes Of Conduct ◽  
Rights Protection ◽  
Patient’S Rights ◽  
Nurses Role ◽  
The Republic ◽  
The Right ◽  
Service Standards

Patient Safety was the right of a patient who was receiving health care. A nurse was one of the health professionals in a hospital having a very important role in realizing Patient Safety. In realizing Patient Safety Panti Rahayu Yakkum Hospital of Purwodadi had involved the role of the nurses. In carrying out their role the nurses could support the protection of the patient’s rights. The nurses performed health care by conducting six Patient Safety goals that were based on professional standards, service standards and codes of conduct so that the Patient Safety would be realized.This research applied a socio-legal approach to having analytical-descriptive specifications. The data used were primary and secondary those were gathered by field and literature studies. The field study was conducted by having interviews to, among others, the Director of Panti Rahayu Yakkum Hospital of Purwodadi, Head of Room and Chairman of Patient Safety Committee, nurses and patients. The data were then qualitatively analyzed.The arrangement of nurses’ role in implementing Patient Safety and the patient’s rights protection was based on the Constitution of the Republic of Indonesia of 1945, Health Act, Hospital Act, Labor Act, and Nursing Act. These bases made the hospital obliged to implement Patient Safety. The regulations leading the hospital to provide Patient Safety were Health Minister’s Regulation Nr. 11 of 2017 on Patient Safety, Statute of Panti Rahayu Yakkum Hospital of Purwodadi (Hospital ByLaws), Internal Nursing Staff ByLaws. In implementing Patient Safety Panti Rahayu Yakkum Hospital of Purwodadi had established a committee of Patient Safety team consisting of the nurses that would implement six targets of Patient Safety. Actually, the Patient Safety implementation had been accomplished but it had not been optimally done because of several factors, namely juridical, social and technical factors. The supporting factors in influencing the implementation were, among others, the establishment of the Patient Safety team that had been well socialized whereas the inhibiting factors were limitedness of time and funds to train the nurses besides the operational procedure standard (OPS) that was still less understood. Lack of learning motivation among the nurses also appeared as an inhibiting factor in understanding Patient Safety implementation.

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