Asymmetric Choquet random walks and ambiguity aversion or seeking

Asymmetric Choquet random walks are defined, in the form of dynamically consistent random walks allowing for asymmetric conditional capacities. By revisiting Kast and Lapied (Dynamically consistent Choquet random walk and real investments. Document de Travail n. 2010-33, GREQAM, HAL id: halhs-00533826, 2010b) and Kast et al. (Econ Model, 38:495–503, 2014) we show that some findings regarding the effects of ambiguity aversion are preserved in the more general framework, which is of interest in several applications to policy making, risk management, corporate decisions, real option valuation of investment/ disinvestment projects, etc. The effect of ambiguity on the higher moments is investigated, as well, as they have an interpretation in terms of the psychological attitude of a decision-maker towards ambiguity. Finally, some financial applications are provided as an illustration.     

Models of Neurotoxicity: Extrapolation of Benchmark Doses in Vitro

In risk assessment, no observed exposure level (NOAEL) and benchmark dose (BMD) are usually derived either from epidemiological studies in humans or from animal experiments. In many in vitro studies, concentration-effect/response curves have been analyzed using different mathematical models finalized to the identification of EC50. In the present article, we propose a model to fit dose-response curves in vitro. The BMD approach has been used to compare the cell viability (MIT assay) of different rat (C6 and PC12, glial and neuronal, respectively) and human cell lines (D384 and SK-N-MC, glial and neuronal, respectively) after 24-hour exposure to the following neurotoxic substances: manganese chloride (MnCl2), methyl-mercury (Me-Hg), and the enantiomers of styrene oxide (SO). For all rat and human cell lines, the potency of the examined compounds was: MnCl2 < S-SO < R-SO < Me-Hg. A preliminary comparison with in vivo toxicity data for these substances gave rise to consistent results. Whereas a reasonable agreement between in vitro and in vivo data has been found for Mn and styrene oxide, a wide scatter of LOAEL has been reported for Me-Hg and these appear to be either much higher or lower than the BMD for the MIT assay we observed in vitro.     

Optimal hedging through limit orders

This article applies the methods of stochastic dynamic programming to a risk management problem, where an agent hedges her derivative position by submitting limit orders. Therefore, this model is the first, in the literature on optimal trading with limit orders, to handle a problem of hedging options or other derivatives. A hedging strategy is developed where both the size and the limit price of each order is optimally set.     

Measuring Regional Performance in the Italian NHS: Are Disparities Decreasing?

Social Indicators Research - Given the regional disparities that historically&nbsp;characterize the Italian context, in this paper we propose a framework to evaluate the regional health care...     

What Influences Business Academics’ Use of the Association of Business Schools (ABS) List? Evidence From a Survey of UK Academics

The development of the Association of Business Schools (ABS) list in 2007 and its rapid adoption by UK business schools has had a profound effect on the nature of business and management academics’ ways of working. Using a large‐scale survey of UK business academics, we assess the extent to which individuals use the Academic Journal Guide (AJG/ABS) list in their day‐to‐day professional activities. In particular, we explore how their perceptions of the list, the academic influence of their research, academic rank and organizational context drive the varied use. Building on prior research on the importance of univalent attitudes in predicting behaviour, we find those who have either strong positive or negative views of the list are more extensive users than those who are ambivalent. We also find that the extent of use of the AJG/ABS list is greatest among those academics who have lower academic influence, in the middle or junior ranks within business schools and in middle and low‐status universities. We explore the implications of these findings for the value of journal rankings and for the management of business schools.     

Cross‐Cultural Consistency of the Demand/Withdraw Interaction Pattern in Couples

In order to examine the cross‐cultural consistency of several patterns of couple communication, 363 participants from four different countries (Brazil, Italy, Taiwan, and the United States) completed self‐report measures about communication and satisfaction in their romantic relationships. Across countries, constructive communication was positively associated with relationship satisfaction, whereas demand/withdraw communication was negatively associated with relationship satisfaction. Woman demand/man withdraw communication was significantly more likely than man demand/woman withdraw communication. Also, some evidence suggested women wanted greater closeness versus independence in their relationships than did men. Differences between partners in desire for closeness versus independence were associated with greater demand/withdraw communication. The possible bases for the demand/withdraw pattern of communication and its gender linkage are discussed.