scholarly journals Information Validates the Prior: A Theorem on Bayesian Updating and Applications

2021 ◽  
Vol 3 (2) ◽  
pp. 165-182
Author(s):  
Navin Kartik ◽  
Frances Xu Lee ◽  
Wing Suen
Keyword(s):  
Asymmetric Information ◽  
Bayesian Updating ◽  
Costly Signaling ◽  
Economic Implications ◽  
Posterior Mean ◽  
Voluntary Testing ◽  
Endogenous Information

We develop a result on expected posteriors for Bayesians with heterogenous priors, dubbed information validates the prior (IVP). Under familiar ordering requirements, Anne expects a (Blackwell) more informative experiment to bring Bob’s posterior mean closer to Anne’s prior mean. We apply the result in two contexts of games of asymmetric information: voluntary testing or certification, and costly signaling or falsification. IVP can be used to determine how an agent’s behavior responds to additional exogenous or endogenous information. We discuss economic implications. (JEL C11, D82, D84)

AGENCY PROBLEM DALAM PENERAPAN PEMBIAYAAN AKAD MUDHARABAH PADA PERBANKAN SYARIAH

ALQALAM ◽  
2016 ◽  
Vol 33 (1) ◽  
pp. 46
Author(s):  
Aswadi Lubis
Keyword(s):  
High Risk ◽  
Asymmetric Information ◽  
Human Resources ◽  
Moral Hazard ◽  
Adverse Selection ◽  
Agency Problem ◽  
Agency Problems ◽  
Islamic Banking ◽  
The Public

The purpose of writing this article is to describe the agency problems that arise in the application of the financing with mudharabah on Islamic banking. In this article the author describes the use of the theory of financing, asymetri information, agency problems inside of financing. The conclusion of this article is that the financing is asymmetric information problems will arise, both adverse selection and moral hazard. The high risk of prospective managers (mudharib) for their moral hazard and lack of readiness of human resources in Islamic banking is among the factors that make the composition of the distribution of funds to the public more in the form of financing. The limitations that can be done to optimize this financing is among other things; owners of capital supervision (monitoring) and the customers themselves place restrictions on its actions (bonding).

Automation…Some Economic Implications

1965 ◽  
Vol 21 (3) ◽  
pp. 113-118
Author(s):  
Louis T. Rader
Keyword(s):  
Economic Implications

THE SOCIO-ECONOMIC AND CULTURAL IMPLICATIONS OF SKHOTHANE ON YOUTH’S (UNDER)DEVELOPMENT AT EKURHULENI’S TO WNSHIP(S) OF SOUTH AFRICA

2016 ◽  
Vol 13 (2) ◽  
pp. 1-19
Author(s):  
Ndwakhulu Tshishonga
Keyword(s):  
Young People ◽  
Youth Culture ◽  
Youth Unemployment ◽  
Primary Data ◽  
Culture Of Poverty ◽  
Economic Implications ◽  
Secondary Sources ◽  
Cultural Implications ◽  
Material Goods ◽  
Ultimate Purpose

This article examines the socio-economic implications that the controversial sub-culture of skhothane has on the development or underdevelopment of youth at Ekurhuleni and surrounding townships. It interrogates skhothane within the post-modern expressive youth culture. In the township(s) of Ekurhuleni, skhothane is regarded not only as a controversial sub-culture but also as a lifestyle whereby young people compete in acquiring material goods with the ultimate purpose of destroying them. This practice co-exists alongside youth unemployment and underdevelopment which is exacerbated by poverty, rising unemployment and gross inequalities. The author argues that the practice of skhothane sub-culture does not only undermine the policies and programmes aimed at the socio-economic upliftment of young people, but turns the youth into materialistic consumers. In this article, young people are viewed as victims of post-modern lifestyles who are socialised under an intergenerational culture of poverty and underdevelopment. It uses primary data from selected interviews with skhothane members and general members of local communities and secondary sources from books, accredited journals and newspapers.

An innovative prone positioning system for advanced deformity and frailty in complex spine surgery

2020 ◽  
Vol 32 (2) ◽  
pp. 229-234
Author(s):  
Benjamin Kolb ◽  
John Large ◽  
Stuart Watson ◽  
Glyn Smurthwaite
Keyword(s):  
Ankylosing Spondylitis ◽  
Three Dimensional ◽  
Technical Note ◽  
Positioning System ◽  
Prone Positioning ◽  
Economic Implications ◽  
Potential Safety ◽  
Chest Deformity ◽  
Positioning Device ◽  
Skin Quality

The authors present a technical note for a prone positioning system developed to facilitate cervical extension osteotomy for ankylosing spondylitis in the presence of severe deformity and frailty. Chin-on-chest deformity represents one of the most debilitating changes of ankylosing spondylitis. Where the chin-brow angle approaches or exceeds 90°, prone positioning becomes problematic due to the fixed position of the head. Furthermore, the challenge is compounded where physiological deconditioning leads to frailty, and the side effects of medical therapies decrease muscle mass and skin quality. Conventional prone positioning equipment is not able to cater to all patients. A versatile system was developed using a 3D reconstruction to enable a positioning simulation and verification tool. The tool was used to comprehensively plan the perioperative episode, including spatial orientation and associated equipment. Three-dimensional printing was used to manufacture a bespoke positioning device that precisely matched the contours of the patient, reducing contact pressure and risk of skin injury. The authors were able to safely facilitate surgery for a patient whose deformity and frailty may otherwise have precluded this possibility. The system has potential safety and economic implications that may be of significant utility to other institutions engaging in complex spinal surgery.

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