Miracle-dz/UniFAR-FTUs huggingface dataset:
Be Rich or Don't Be Sick: Estimating Vietnamese Patients' Risk of Falling into Destitution

This paper represents the first research attempt to estimate the probabilities for Vietnamese patients to fall into destitution facing financial burdens occurring during their curative stay in hospital. The study models the risk against such factors as level of insurance coverage, location of patient, costliness of treatment, among others. The results show that very high probabilities of destitution, approximately 70%, apply to a large group of patients, who are nonresident, poor and ineligible for significant insurance coverage. <br><br>There is also a probability of 58% that low-income patients who are seriously ill and face higher health care costs would quit their treatment. These facts will put Vietnamese government’s ambitious plan of increasing both universal coverage (UC) to 100% of expenditure and rate of UC beneficiaries to 100% at a serious test. The study also raises issues of asymmetric information and alternative financing options for the poor, who are most exposed to risk of destitution, following market-based health care reforms.
Tractable Equilibria in Sponsored Search With Endogenous Budgets

Given the scale of the sponsored search market, it is practically important yet technically difficult to understand the interplay between bidders and the ad network and its effect on the long-run state of the market. Although typical equilibrium models account for bidders strategizing over the individual bids they submit to the auctions, they ignore that bidders also strategically set their campaign budgets. In “Tractable Equilibria in Sponsored Search with Endogenous Budgets,” F. Ciocan and K. Iyer ask how this additional strategic layer affects market operation and prove that endogenizing budgets surprisingly yields simple and interpretable equilibria. Namely, these equilibria generate quasi-truthful bidding strategies guaranteeing bidders an ROI exceeding their cost per dollar of committed budget. Additionally, the ad network’s optimal allocation policy becomes greedy with high probability. Thus, in this equilibrium, the ad network need not solve computationally challenging, large-scale linear optimization problems typically required under exogenous budgets.
An Algorithm for Assortment Optimization Under Parametric Discrete Choice Models

This work concerns the assortment optimization problem that refers to selecting a subset of items that maximizes the expected revenue in the presence of the substitution behavior of consumers specified by a parametric choice model. The key challenge lies in the computational difficulty of finding the best subset solution, which often requires exhaustive search. The literature on constrained assortment optimization lacks a practically efficient method which that is general to deal with different types of parametric choice models (e.g., the multinomial logit, mixed logit or general multivariate extreme value models). In this paper, we propose a new approach that allows to address this issue. The idea is that, under a general parametric choice model, we formulate the problem into a binary nonlinear programming model, and use an iterative algorithm to find a binary solution. At each iteration, we propose a way to approximate the objective (expected revenue) by a linear function, and a polynomial-time algorithm to find a candidate solution using this approximate function. We also develop a greedy local search algorithm to further improve the solutions. We test our algorithm on instances of different sizes under various parametric choice model structures and show that our algorithm dominates existing exact and heuristic approaches in the literature, in terms of solution quality and computing cost.
Multi-Sided Market

We study the equilibrium for symmetric competition between multi-sided platforms under utility competition and make equilibrium comparison for asymmetric platform competition. We consider the small-ticket effect where the price cap regulation of the large-ticket item leads to a rise of the price for the small-ticket item. We show that competitive price discrimination could lead to higher profits for firms. We build a model with general externality and demand function. We consider a partially covered market and show that the externality could be a bless for firms. Moreover, we conduct a merger analysis for the general demand and externality model.
Persuasive Disclosure

This paper studies the general information disclosure model (Grossman, 1981; Milgrom, 1981) relaxing the assumption of monotonicity in preferences. I apply the belief-based approach, which is developed in Bayesian persuasion (Kamenica and Gentzkow, 2011) and applied to cheap talk (Lipnowski and Ravid, 2018), to solve for the Perfect Bayesian Equilibrium (PBE) outcomes. I find that under full verifiability and rich language, the PBE outcomes take the form of a combination of those in separated auxiliary cheap talk games with lower bounds for sender payoff. Also, I provide a sufficient condition for the original unraveling result to hold in the general case. Finally, I compare information disclosure with cheap talk and Bayesian persuasion.
Effect of Nutrition on the Response in Ovulation Rate in Merino Ewes following Short-term Lupin Supplementation and Insulin Administration

In experiment 1, groups of Merino ewes, 4-6 years old, were given daily wheat chaff 500 g plus vitamin and mineral supplements, or wheat chaff 800 g and pelleted feed containing lucerne, lupin and barley 350 g plus mineral and vitamin supplements. Diets provided 0.5 and 1.2 times maintenance requirements. On each plane of nutrition, lupins 750 g were given or not given 10 days before oestrus. In experiment 2, the same planes of nutrition were used and sheep were injected daily with insulin 15 IU, or left untreated. Ovulation rate increased in response to lupin feeding at both planes of nutrition. Exogenous insulin, given as a daily single injection did not increase ovulation rate.
A Mathematical Model of an In Vitro Experiment to Investigate Endothelial Cell Migration

Angiogenesis, the growth of new blood vessels from existing ones, is an important, yet not fully understood, process and is involved in diseases such as rheumatoid arthritis, diabetic retinopathy and solid tumour growth. Central to the process of angiogenesis are endothelial cells (EC), which line all blood vessels, and are capable of forming new capillaries by migration, proliferation and lumen formation. We construct a cell-based mathematical model of an experiment (Vernon, R.B. and Sage, E.H. (1999) “A novel, quantitative model for study of endothelial cell migration and sprout formation within three-dimensional collagen matrices”, Microvasc. Res. 57, 118–133) carried out to assess the response of EC to various diffusible angiogenic factors, which is a crucial part of angiogenesis. The model for cell movement is based on the theory of reinforced random walks and includes both chemotaxis and chemokinesis. Three-dimensional simulations are run and the results correlate well with the experimental data. The experiment cannot easily distinguish between chemotactic and chemokinetic effects of the angiogenic factors. We, therefore, also run two-dimensional simulations of a hypothetical experiment, with a point source of angiogenic factor. This enables directed (gradient-driven) EC migration to be investigated independently of undirected (diffusion-driven) migration.
Integration vs. Outsourcing in Industry Equilibrium

We develop an equilibrium model of industrial structure in which the organization of firms is endogenous. Differentiated consumer products can be produced either by vertically integrated firms or by pairs of specialized companies. Production of each variety of consumer good requires a unique, specialized component. Vertically integrated firms can manufacture the components they need in the quantity and type that maximizes profits, but they face a relatively high cost due to diseconomies of scope. Specialized firms can produce at lower cost, but outsourcing imposes costs due to search frictions and imperfect contracting. We study the equilibrium mode of organization when inputs are fully or partially specialized. We consider how the degree of competition in the industry, the nature of the search technology, the division of bargaining strength between intermediate and final producers, and the sensitivity of manufacturing costs to input characteristics affect the equilibrium organizational form.
Honeydew excretion measurement techniques for determining differential feeding activity of biotypes of Nilaparvata lugens on rice varieties.

Techniques to quantify the feeding activity of Nilaparvata lugens (Stal) on rice varieties as based on honeydew excretion are described and their potential as a bioassays for biotype identification are discussed. Honeydew, excreted on filter paper, was stained with ninhydrin and quantified by measuring the area (mm2) or by weighing. Results were satisfactory but the methods were extremely tedious. Volumetric measurement of honeydew with micropipettes was less sensitive. The color intensity of one μliter honeydew streaked on filter paper and treated with 0.001% ninhydrin was determined with a FujioxTM Densitometer. The method was relatively simple and rapid and was sufficiently precise for biotype identification as based on differential feeding activity.
Genetic and Environmental Regulation of Dauer Larva Development

I. INTRODUCTION Dauer larvae were first identified as a special larval stage of insect-parasitic nematodes. These larvae, which differed structurally from all other stages of the same species, were termed “dauerlarven” by Fuchs (1915). The dauer (enduring) stage of Caenorhabditis elegans is formed when environmental conditions are inadequate for successful reproduction. In abundant food, the animal develops continuously through the four larval stages (L1–L4) to the adult. Coincident with increased population density and limited food supply, development is arrested at the second molt, and the third-stage larva that is formed is structurally and behaviorally specialized for dispersal and long-term survival (Cassada and Russell 1975). Dauer larvae do not feed, but they can survive at least four to eight times the normal 2-week life span of C. elegans (Klass and Hirsh 1976). When favorable conditions are encountered, the dauer larva begins to feed and resumes development to the adult. Both entry into and exit from the dauer stage are developmental responses to specific chemosensory cues. These cues inform the larva whether there will be sufficient food available to support its reproduction. The environmental cues are first assessed and integrated throughout the L1 stage (Golden and Riddle 1984b). The primary cue is a Caenorhabditis-specific pheromone constitutively released by the nematodes (Golden and Riddle 1984c). The pheromone is very stable and hydrophobic and has chromatographic properties similar to those of hydroxylated fatty acids and bile acids. The concentration of pheromone reflects nematode population density. Temperature and food modulate the response to pheromone.
Enhancement of lignin degradation and laccase activity in Pleurotus ostreatus by cotton stalk extract

The white rot fungus Pleurotus ostreatus was grown in a chemically defined solid state fermentation system amended with cotton stalk extract (CSE). Treated cultures exhibited increased laccase activity as well as enhanced lignin mineralization. Mineralization of [14C]lignin initialized 4 days earlier in CSE-supplemented cultures than in control cultures. Total mineralization in the first 16 days was 15% in the CSE-treated cultures, compared with only 7% in the controls. Cotton stalk extract also contained compounds that serve as substrates for laccase purified from P. ostreatus as shown by oxygen consumption, as well as changes in the UVvisible spectrum.Key words: cotton, Pleurotusostreatus, white rot, laccase, lignin biodegradation.
Rye Flour Extraction Rate Affects Maillard Reaction Development, Antioxidant Activity, and Acrylamide Formation in Bread Crisps

ABSTRACT This report shows the effect of rye flour extraction rate on Maillard reaction, antioxidant activity, and acrylamide formation during toasting of rye bread crisps. Four rye flours with extraction rates of 70, 85, 95, and 100% were tested. Maillard reaction development was studied by measuring browning development, hydroxymethylfurfural (HMF), and glucosilisomaltol (GIM) formation, as well as antioxidant activity. Results showed that HMF and GIM concentrations in toasted bread crisps were higher as the flour extraction rate increases. Antioxidant activity increased during toasting as a consequence of antioxidant Maillard reaction product formation. Acrylamide concentration was clearly affected by free asparagine content of flour, while no effect of dietary fiber and natural antioxidant content of flours had an effect on acrylamide formation. Overall data suggest that the rate of Maillard reaction is higher in whole flours because of their higher free amino acid and protein content.
Lending on Hold: Regulatory Uncertainty and Bank Lending Standards

The 2011--2013 rule-making process for the regulation of qualified mortgages was correlated with a reduction in mortgage lending. In this article, we document this correlation at the bank level. Using a novel measure of banks' perception of regulatory uncertainty, we offer suggestive evidence that banks that perceived higher regulatory uncertainty (or that were more adverse to it) reduced lending more severely. Other channels that might explain banks' lending behavior--investment/securitization, putbacks by government sponsored enterprises, and general economic uncertainty--are also considered.
Why James Buchanan Kept Frank Knight's Picture on His Wall Despite Fundamental Disagreements on Economics, Ethics, and Politics

Jim Buchanan kept pictures of Knut Wicksell and Frank H. Knight on his office wall. Yet a careful look at Buchanan’s work indicates that it ran counter to that of Frank H. Knight. Knight and Buchanan disagreed on the methodological, economic, ethical, and political assumptions that drove their work. Knight rejected methodological individualism, the underlying methodological commitment of Buchanan’s research program. While Knight remained within the standard constrained maximization framework of neoclassical economics, Buchanan adopted a catallactic perspective. Ethically, Knight argued that all ethical judgments must remain open to debate, and also rejected the de gustibus non est disputandum assumption that went hand-in-hand among economists with methodological individualism. And philosophically, Knight’s theory of democratic politics was centered on “democracy as discussion” rather than choice, contract, and constitution. Why, then, did Buchanan keep that picture of Knight on his wall? After a survey of his published criticisms of Knight, the conclusion emerges that engagement with Knight pushed Buchanan toward a more open-ended political economy.
Politique De Dividende Des Entreprises Tunisiennes : Une Explication Par Une Étude De CAS Et Les Modèles De Base (Dividend Policy of Tunisian Firms: An Explanation with a Case Study and Basic Models)

French Abstract: Le present article examine la politique de dividende des entreprises tunisiennes pendant la periode 1996-2004. Les resultats d’une premiere analyse descriptive montrent que 75% des entreprises tunisiennes essayent d’adopter une politique de dividende stable. L’estimation du modele de base de Lintner (1956) montre que le benefice de l’annee en cours et le dividende de l’annee precedente sont significativement lies au dividende de l’annee courante. Concernant les determinants de ce modele de base calcules sur le contexte tunisien, les calculs montrent qu’ils se rapprochent sensiblement de ceux trouves par Lintner en 1956, avec un taux de distribution cible de l’ordre 0.49 et un coefficient d’ajustement de 0.29. English Abstract: This article examines the dividend policy of Tunisian firms over the period 1996-2004. The first case study suggests that most of Tunisian firms (75 percent) prefer to not to change their dividend level between current year and previous year and so, try to have a stable dividend policy. In the second analysis, we have estimated the Lintner model. The results prove that the earnings of the current year and the dividends of the previous year are positively related to the dividends of the current year. Also, we found that the determinants of Lintner model are closer to those found by Lintner in 1956. the long-term target payout ratio found is 0.49, while the partial adjustment factor is 0.29.
Crossing Takeover Premiums and Mix of Payment: Empirical Test of Contractual Setting in M&A Transactions

The analysis of the offer premiums and of the means of payment should not be done separately. In the empirical literature these two variables are analyzed separately although they may have endogenous relation. Using a sample of European M&As over the 2000-2010 decade, we show that these two variables are jointly set up in a contractual approach. The relationship of the percentage of cash with the offer premium is positive: higher premiums will yield payment with more cash. We highlight that the payment choice is not a continuum between full cash and full share payment. The existence of two regime of payment in M&A transactions is the first conclusion we draw. We analyze the determinants of M&A terms in a contractual approach where the offer premium and the means of payment are jointly set. The underlying rationale of asymmetry of information and risk sharing calculus is found significant.
Will Tighter Futures Price Limits Decrease Hedge Effectiveness?

The recent events triggered by the Global Financial Crisis (GFC) have led to calls for regulation of financial (particularly derivative) markets to prevent “destabilizing speculation”. Given that such regulation may involve opportunity costs, this paper examines whether tighter futures price limits can reduce the effectiveness of a futures hedge. A new model is proposed that uncovers the underlying joint spot-futures dynamics when futures prices are subject to limits. The model is then used to determine the maximum number of limit days before minimum variance hedging outcomes are adversely affected. An application to US soybeans and corn reveals that existing price limits have not reduced hedge effectiveness. If the frequency of limit days increases from current levels of around 1% to approximately 3% to 4% however, conventional hedging approaches will experience economically and statistically significant increases in portfolio variance. These results are of importance for hedgers, clearing houses and regulators in light of the recent calls for derivatives regulation.
Spring weights and fat deposition of palaearctic passerine migrants in Senegal

This paper compares the patterns of weight and fat‐class of Palaearctic passerine migrants trapped at two sites in Senegal in spring 1986. Despite considerable variations in some species (Reed Warbler Acrocephalus scirpaceus and Subalpine Warbler Sylvia cantillans) the great majority of the birds trapped had weights well above the breeding and wintering levels and showed clear evidence of premigratory fattening. In the Yellow Wagtail Motacilla flava and Chiffchaff Phylloscopus collybita some individuals weighed more than twice as much as others. Mean values of fat‐classes of first captures and retraps differed significantly. Species could be divided into two different groups: (a) those (Sand Martin Riparia riparia. Yellow Wagtail and Pied Wagtail M. alba) with small variation in fat classes (12%‐23%), and (b) those (Chiffchaff, Subalpine Warbler, Reed Warbler and Redstart Phoenicurus phoenicurus) showing a high variation in fat‐class (39%‐55%). Birds of the first group had a significantly higher mean fat‐.
Strategic Delegation in Oligopoly

One objective of this chapter is to provide the reader with a clear and intuitive, but yet rigorous, description of the topic of strategic managerial incentives under oligopolistic competition. We further discuss the closely related issues of vertical separation where a manufacturer delegates decision making to a retailer and the delegation of decisions to a certain type of agent. We start the discussion of each of these themes by reflecting on seminal papers that have first introduced the corresponding topic. We present and critically discuss the key assumptions behind each of the basic models and point out important applications along with some empirical and experimental evidence. We also discuss contributions that have provided important extensions to the basic frameworks.
Sexual selection for small size in male mosquitofish (Gambusia holbrooki)

In many poeciliid fishes, large males which court females coexist with small males which sneak–copulate. It is unclear whether these two tactics represent two evolutionarily stable strategies or if sneaking is a conditional strategy adopted by small, unattractive males. We studied the success of sneaky copulation by looking for sperm in the gonoduct of females after they were kept for 48 h with a male. A logistic regression analysis showed that the probability of a female being inseminated increased with female length and decreased with male length. The length of the male relative to that of the female was the best predictor of success. This result was confirmed using virgin females, thereby excluding any possible confounding effect due to the release of sperm from previous copulations. Sperm counts suggested that large males do not compensate for their reduced copulatory success by releasing larger sperm numbers. Behavioural data indicate that the advantages to small males are twofold: they have a greater chance to approach females from behind without being detected, and manoeuvre better when inserting the gonopodium into the female's gonoduct. The selective advantage of small size might explain male dwarfism in poeciliids. Our results also suggest that small males adopting the sneaky tactic may be as successful as large males adopting courtship, and that alternative mating strategies may be maintained by negative density–dependent selection.
Jointly Held Investment Options and Vertical Relationships

We find the optimal time for exercising a jointly held investment option. When the input market is competitive, the investment can take place earlier, later, or exactly when the optimal investment threshold is reached depending on how the option holders interact and on the bargaining power distribution. When instead the input supplier has market power, the game-theoretic framework downstream is shown to be of secondary importance. The timing effect that is attributed to the vertical relationship is always prevailing, which dictates the inefficient postponement of the investment.