How Did The Separation of Banking and Commerce Work?: Estimates of the Cost and Benefit of the Combination of Banking and Commerce

2021 ◽  
Vol 35 (1) ◽  
pp. 113-145
Author(s):  
Jabonn Kim
Keyword(s):  
2019 ◽  
Vol 20 (S6) ◽  
Author(s):  
Alva Presbitero ◽  
Emiliano Mancini ◽  
Filippo Castiglione ◽  
Valeria V. Krzhizhanovskaya ◽  
Rick Quax

Abstract Background Neutrophils are one of the key players in the human innate immune system (HIIS). In the event of an insult where the body is exposed to inflammation triggering moieties (ITMs), neutrophils are mobilized towards the site of insult and antagonize the inflammation. If the inflammation is cleared, neutrophils go into a programmed death called apoptosis. However, if the insult is intense or persistent, neutrophils take on a violent death pathway called necrosis, which involves the rupture of their cytoplasmic content into the surrounding tissue that causes local tissue damage, thus further aggravating inflammation. This seemingly paradoxical phenomenon fuels the inflammatory process by triggering the recruitment of additional neutrophils to the site of inflammation, aimed to contribute to the complete neutralization of severe inflammation. This delicate balance between the cost and benefit of the neutrophils’ choice of death pathway has been optimized during the evolution of the innate immune system. The goal of our work is to understand how the tradeoff between the cost and benefit of the different death pathways of neutrophils, in response to various levels of insults, has been optimized over evolutionary time by using the concepts of evolutionary game theory. Results We show that by using evolutionary game theory, we are able to formulate a game that predicts the percentage of necrosis and apoptosis when exposed to various levels of insults. Conclusion By adopting an evolutionary perspective, we identify the driving mechanisms leading to the delicate balance between apoptosis and necrosis in neutrophils’ cell death in response to different insults. Using our simple model, we verify that indeed, the global cost of remaining ITMs is the driving mechanism that reproduces the percentage of necrosis and apoptosis observed in data and neutrophils need sufficient information of the overall inflammation to be able to pick a death pathway that presumably increases the survival of the organism.


2019 ◽  
Vol 10 (1) ◽  
pp. 4-22 ◽  
Author(s):  
Marta Katarzyna KOŁACZ ◽  
Alberto QUINTAVALLA ◽  
Orlin YALNAZOV

The primary concern of the present paper is the cost of acquiring information by judges and legislators in the process of regulating new technologies. The paper distinguishes between risky and uncertain applications of technology. A risky technology poses an obvious risk, and the problem before the regulator is one of comparing cost and benefit. We argue that the judiciary, which acquires information gratis from litigants, is better suited to the regulation of risky technologies. Uncertain technologies, on the other hand, can be harmful in ways which cannot be foreseen at the time of the technological innovation. Cost and benefit are incalculable; regulation must instead be based on subjective preferences about the degree of uncertainty that society should tolerate. Legislative law-making is designed with a view to aggregating subjective preferences. Accordingly, uncertain technologies should be regulated through statute.


2013 ◽  
Vol 142 (4) ◽  
pp. 1028-1046 ◽  
Author(s):  
Davood G. Gozli ◽  
Alison L. Chasteen ◽  
Jay Pratt

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