Sovereign Default

2019 ◽  
pp. 275-327
Author(s):  
Julianne Ams ◽  
Reza Baqir ◽  
Anna Gelpern ◽  
Christoph Trebesch
Keyword(s):  
Moral Hazard ◽  
Real World ◽  
Debt Relief ◽  
Sovereign Default ◽  
Crisis Prevention

This chapter begins by defining sovereign default. It proceeds to untangle several common forms of default, including unilateral and negotiated default, and default that results in principal haircuts and payment reprofiling, and offers a clear taxonomy of default, using real-world examples when needed. The chapter then explores the various costs of sovereign default, and the factors that influence them. It considers some of the weaknesses and distortions within the existing framework of crisis prevention and resolution, highlighting the role of official bailouts and moral hazard, and the causes of delayed and inadequate debt relief (“too little, too late”). The chapter concludes with recommendations for reducing the incidence and cost of default.

Intertheatricality and Propaganda

2017 ◽  
Author(s):  
Laurence Publicover
Keyword(s):  
Early Modern ◽  
Real World ◽  
The Political ◽  
Merchant Of Venice ◽  
The Merchant Of Venice ◽  
Political Background ◽  
Controversial Nature

This chapter analyses the ways in which the collaborative drama The Travels of the Three English Brothers defends the Sherley brothers’ real-world political endeavours across Europe and Persia through its intertheatrical negotiations. Explaining the political background of those endeavours and their controversial nature, it illustrates how the playwrights liken the Sherleys to the heroes of dramas that had been popular on the early modern stage over the preceding twenty years, in particular Tamburlaine and The Merchant of Venice. It also examines the significance of Francis Beaumont’s specific parody, in The Knight of the Burning Pestle, of an episode in Travels in which the Persian Sophy acts as godfather to the child of Robert Sherley. The chapter concludes with a discussion of the role of playing companies in shaping dramatic output.

scholarly journals Assessing social preferences in reimbursement negotiations for new Pharmaceuticals in Oncology: an experimental design to analyse willingness to pay and willingness to accept

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Dominik J. Wettstein ◽  
Stefan Boes
Keyword(s):  
Willingness To Pay ◽  
Real World ◽  
Cognitive Biases ◽  
Social Preferences ◽  
Standard Of Care ◽  
Added Value ◽  
Amazon Mechanical Turk ◽  
Patient Organisation ◽  
Patient Benefit

Abstract Background Price negotiations for specialty pharmaceuticals take place in a complex market setting. The determination of the added value of new treatments and the related societal willingness to pay are of increasing importance in policy reform debates. From a behavioural economics perspective, potential cognitive biases and other-regarding concerns affecting outcomes of reimbursement negotiations are of interest. An experimental setting to investigate social preferences in reimbursement negotiations for novel, oncology pharmaceuticals was used. Of interest were differences in social preferences caused by incremental changes of the patient outcome. Methods An online experiment was conducted in two separate runs (n = 202, n = 404) on the Amazon Mechanical Turk (MTurk) platform. Populations were split into two (run one) and four (run two) equally sized treatment groups for hypothetical reimbursement decisions. Participants were randomly assigned to the role of a public price regulator for pharmaceuticals (buyer) or a representative of a pharmaceutical company (seller). In run two, role groups were further split into two different price magnitude framings (“real world” vs unconverted “real payoff” prices). Decisions had real monetary effects on other participants (in the role of premium payers or investors) and via charitable donations to a patient organisation (patient benefit). Results 56 (run one) and 59 (run two) percent of participants stated strictly monotone preferences for incremental patient benefit. The mean incremental cost-effectiveness ratio (ICER) against standard of care (SoC) was higher than the initial ICER of the SoC against no care. Regulators stated lower reservation prices in the “real world” prices group compared to their colleagues in the unconverted payoff group. No price group showed any reluctance to trade. Overall, regulators rated the relevance of the patient for their decision higher and the relevance of their own role lower compared to sellers. Conclusions The price magnitude of current oncology treatments affects stated preferences for incremental survival, and assigned responsibilities lead to different opinions on the relevance of affected stakeholders. The design is useful to further assess effects of reimbursement negotiations on societal outcomes like affordability (cost) or availability (access) of new pharmaceuticals and test behavioural policy interventions.

scholarly journals COVID-19, Social Media, and the Role of the Public Physician

2021 ◽  
pp. 1-7
Author(s):  
Joel M. Topf ◽  
Paul N. Williams
Keyword(s):  
Social Media ◽  
Real World ◽  
The Public ◽  
Large Segment ◽  
Core Part ◽  
Audience Size

The COVID-19 pandemic has resulted in an avalanche of information, much of it false or misleading. Social media posts with misleading or dangerous opinions and analyses are often amplified by celebrities and social media influencers; these posts have contributed substantially to this avalanche of information. An emerging force in this information infodemic is public physicians, doctors who view a public presence as a large segment of their mission. These physicians bring authority and real-world experience to the COVID-19 discussion. To investigate the role of public physicians, we interviewed a convenience cohort of physicians who have played a role in the infodemic. We asked the physicians about how their roles have changed, how their audience has changed, what role politics plays, and how they address misinformation. The physicians noted increased audience size with an increased focus on the pandemic. Most avoided confronting politics, but others found it unavoidable or that even if they tried to avoide it, it would be brought up by their audience. The physicians felt that confronting and correcting misinformation was a core part of their mission. Public physicians on social media are a new occurrence and are an important part of fighting online misinformation.

scholarly journals Being Peer Gynt: How students collaboratively make meaning of a digital game about a literature classic

2021 ◽  
pp. 204275302110229
Author(s):  
Magnus H Sandberg ◽  
Kenneth Silseth
Keyword(s):  
Real World ◽  
Meaning Making ◽  
Computer Game ◽  
Digital Game ◽  
Virtual Self ◽  
Dialogic Approach

Henrik Ibsen’s play Peer Gynt digs deep into the question of what it means to be oneself. An upcoming computer game version invites players to take on the role of Peer and thereby raises new questions about identity and identification. By recording dyads of students who play an early version of the game and analysing their interaction during gameplay, we examine how students collaboratively make meaning of the computer game. This study employs a sociocultural and dialogic approach to meaning making. In the analysis, we draw on Gee’s theory on multiple player identities and see the dyads playing together as two real-world selves negotiating on creating one virtual self through a co-authorship of situated meaning in what Gee calls the projective stance. To better understand their cooperation in this undertaking, we also apply Goffman’s term activity frames. The analysis shows how the dyads approach the game in different ways by establishing frames in which they interpret, impersonate or recreate Peer, in order to make meaning of their gameplay.

scholarly journals Volatile capital flows and financial integration: The role of moral hazard

2018 ◽  
Vol 176 ◽  
pp. 170-192 ◽  
Author(s):  
Tomoo Kikuchi ◽  
John Stachurski ◽  
George Vachadze
Keyword(s):  
Moral Hazard ◽  
Capital Flows ◽  
Financial Integration

scholarly journals Camp stability predicts patterns of hunter–gatherer cooperation

2016 ◽  
Vol 3 (7) ◽  
pp. 160131 ◽  
Author(s):  
Daniel Smith ◽  
Mark Dyble ◽  
James Thompson ◽  
Katie Major ◽  
Abigail E. Page ◽  
...  
Keyword(s):  
Real World ◽  
Ecological Context ◽  
Hunter Gatherers ◽  
Ecological Conditions ◽  
Resource Transfers ◽  
Experimental Games ◽  
Using Data ◽  
Over Time ◽  
Do So

Humans regularly cooperate with non-kin, which has been theorized to require reciprocity between repeatedly interacting and trusting individuals. However, the role of repeated interactions has not previously been demonstrated in explaining real-world patterns of hunter–gatherer cooperation. Here we explore cooperation among the Agta, a population of Filipino hunter–gatherers, using data from both actual resource transfers and two experimental games across multiple camps. Patterns of cooperation vary greatly between camps and depend on socio-ecological context. Stable camps (with fewer changes in membership over time) were associated with greater reciprocal sharing, indicating that an increased likelihood of future interactions facilitates reciprocity. This is the first study reporting an association between reciprocal cooperation and hunter–gatherer band stability. Under conditions of low camp stability individuals still acquire resources from others, but do so via demand sharing (taking from others), rather than based on reciprocal considerations. Hunter–gatherer cooperation may either be characterized as reciprocity or demand sharing depending on socio-ecological conditions.

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