scholarly journals Explaining Incomplete Contracts as the Result of Contract-Reading Costs

Author(s):  
Eric Bennett Rasmusen

Abstract Much real-world contracting involves finding new clauses to add to a basic agreement, clauses which may or may not increase the welfare of both parties. The parties must decide which complications to propose, how closely to examine the other side's proposals, and whether to accept them. This suggests a reason why contracts are incomplete in the sense of lacking Pareto-improving clauses: contract-reading costs matter as much as contract-writing costs. Fine print that is cheap to write can be expensive to read carefully enough to understand the value to the reader, and especially to verify the absence of clauses artfully written to benefit the writer at the reader's expense. As a result, complicated clauses may be rejected outright even if they really do benefit both parties, and this will deter proposing such clauses in the first place.

1999 ◽  
Vol 91 (1) ◽  
pp. 105-111 ◽  
Author(s):  
Kenji Ohata ◽  
Toshihiro Takami ◽  
Alaa El-Naggar ◽  
Michiharu Morino ◽  
Akimasa Nishio ◽  
...  

✓ The treatment of spinal intramedullary arteriovenous malformations (AVMs) with a diffuse-type nidus that contains a neural element poses different challenges compared with a glomus-type nidus. The surgical elimination of such lesions involves the risk of spinal cord ischemia that results from coagulation of the feeding artery that, at the same time, supplies cord parenchyma. However, based on evaluation of the risks involved in performing embolization, together with the frequent occurrence of reperfusion, which necessitates frequent reembolization, the authors consider surgery to be a one-stage solution to a disease that otherwise has a very poor prognosis. Magnetic resonance (MR) imaging revealed diffuse-type intramedullary AVMs in the cervical spinal cords of three patients who subsequently underwent surgery via the posterior approach. The AVM was supplied by the anterior spinal artery in one case and by both the anterior and posterior spinal arteries in the other two cases. In all three cases, a posterior median myelotomy was performed up to the vicinity of the anterior median fissure that divided the spinal cord together with the nidus, and the feeding artery was coagulated and severed at its origin from the anterior spinal artery. In the two cases in which the posterior spinal artery fed the AVM, the feeding artery was coagulated on the dorsal surface of the spinal cord. Neurological outcome improved in one patient and deteriorated slightly to mildly in the other two patients. Postoperative angiography demonstrated complete disappearance of the AVM in all cases. Because of the extremely poor prognosis of patients with spinal intramedullary AVMs, this surgical technique for the treatment of diffuse-type AVMs provides acceptable operative outcome. Surgical intervention should be considered when managing a patient with a diffuse-type intramedullary AVM in the cervical spinal cord.


2021 ◽  
pp. 1-27 ◽  
Author(s):  
Brandon de la Cuesta ◽  
Naoki Egami ◽  
Kosuke Imai

Abstract Conjoint analysis has become popular among social scientists for measuring multidimensional preferences. When analyzing such experiments, researchers often focus on the average marginal component effect (AMCE), which represents the causal effect of a single profile attribute while averaging over the remaining attributes. What has been overlooked, however, is the fact that the AMCE critically relies upon the distribution of the other attributes used for the averaging. Although most experiments employ the uniform distribution, which equally weights each profile, both the actual distribution of profiles in the real world and the distribution of theoretical interest are often far from uniform. This mismatch can severely compromise the external validity of conjoint analysis. We empirically demonstrate that estimates of the AMCE can be substantially different when averaging over the target profile distribution instead of uniform. We propose new experimental designs and estimation methods that incorporate substantive knowledge about the profile distribution. We illustrate our methodology through two empirical applications, one using a real-world distribution and the other based on a counterfactual distribution motivated by a theoretical consideration. The proposed methodology is implemented through an open-source software package.


1971 ◽  
Vol 34 (4) ◽  
pp. 537-543 ◽  
Author(s):  
Richard A. Lende ◽  
Wolff M. Kirsch ◽  
Ralph Druckman

✓ Cortical removals which included precentral and postcentral facial representations resulted in relief of facial pain in two patients. Because of known failures following only postcentral (SmI) ablations, these operations were designed to eliminate also the cutaneous afferent projection to the precentral gyrus (MsI) and the second somatic sensory area (SmII). In one case burning pain developed after a stroke involving the brain stem and was not improved by total fifth nerve section; prompt relief followed corticectomy and lasted until death from heart disease 20 months later. In the other case persistent steady pain that developed after fifth rhizotomy for trigeminal neuralgia proved refractory to frontal lobotomy; relief after corticectomy was immediate and has lasted 14 months. Cortical localization was established by stimulation under local anesthesia. Each removal extended up to the border of the arm representation and down to the upper border of the insula. Such a resection necessarily included SmII, and in one case responses presumably from SmII were obtained before removal. The suggestions of Biemond (1956) and Poggio and Mountcastle (1960) that SmII might be concerned with pain sensibility may be pertinent in these cases.


Robotics ◽  
2021 ◽  
Vol 10 (2) ◽  
pp. 68
Author(s):  
Lei Shi ◽  
Cosmin Copot ◽  
Steve Vanlanduit

In gaze-based Human-Robot Interaction (HRI), it is important to determine human visual intention for interacting with robots. One typical HRI interaction scenario is that a human selects an object by gaze and a robotic manipulator will pick up the object. In this work, we propose an approach, GazeEMD, that can be used to detect whether a human is looking at an object for HRI application. We use Earth Mover’s Distance (EMD) to measure the similarity between the hypothetical gazes at objects and the actual gazes. Then, the similarity score is used to determine if the human visual intention is on the object. We compare our approach with a fixation-based method and HitScan with a run length in the scenario of selecting daily objects by gaze. Our experimental results indicate that the GazeEMD approach has higher accuracy and is more robust to noises than the other approaches. Hence, the users can lessen cognitive load by using our approach in the real-world HRI scenario.


2010 ◽  
Vol 72 (1) ◽  
pp. 24-29 ◽  
Author(s):  
Hui-Min Chung ◽  
Kristina Jackson Behan

Authentic assessment exercises are similar to real-world tasks that would be expected by a professional. An authentic assessment in combination with an inquiry-based learning activity enhances students' learning and rehearses them for their future roles, whether as scientists or as informed citizens. Over a period of 2 years, we experimented with two inquiry-based projects; one had traditional scientific inquiry characteristics, and the other used popular culture as the medium of inquiry. We found that activities that incorporated group learning motivated students and sharpened their abilities to apply and communicate their knowledge of science. We also discovered that incorporating popular culture provided ““Millennial”” students with a refreshing view of science learning and increased their appetites to explore and elaborate on science.


2001 ◽  
Vol 33 (4) ◽  
pp. 657-660
Author(s):  
Frank Tachau

Based on Professor Özbudun's lectures at Bilkent University, this book is at once compact, highly readable, and very insightful. Unlike much current literature on Turkey, the analysis is set in a broad and informed comparative context. Turkey, the author points out, has been left out of comparative political studies, particularly those encompassing the Middle East and southern Europe, in which arguably it could (or should) have been included. Scholarly neglect thus reflects real-world politics: Turkey falls between two worlds, one of which it once largely controlled, the other to which it currently aspires to belong. This lacuna is one of the factors that persuaded Özbudun to publish this volume.


Algorithms ◽  
2021 ◽  
Vol 14 (7) ◽  
pp. 197
Author(s):  
Ali Seman ◽  
Azizian Mohd Sapawi

In the conventional k-means framework, seeding is the first step toward optimization before the objects are clustered. In random seeding, two main issues arise: the clustering results may be less than optimal and different clustering results may be obtained for every run. In real-world applications, optimal and stable clustering is highly desirable. This report introduces a new clustering algorithm called the zero k-approximate modal haplotype (Zk-AMH) algorithm that uses a simple and novel seeding mechanism known as zero-point multidimensional spaces. The Zk-AMH provides cluster optimality and stability, therefore resolving the aforementioned issues. Notably, the Zk-AMH algorithm yielded identical mean scores to maximum, and minimum scores in 100 runs, producing zero standard deviation to show its stability. Additionally, when the Zk-AMH algorithm was applied to eight datasets, it achieved the highest mean scores for four datasets, produced an approximately equal score for one dataset, and yielded marginally lower scores for the other three datasets. With its optimality and stability, the Zk-AMH algorithm could be a suitable alternative for developing future clustering tools.


2010 ◽  
Vol 36 (S1) ◽  
pp. 25-46 ◽  
Author(s):  
WILLIAM BAIN

AbstractThis article takes up Louise Arbour's claim that the doctrine of the ‘Responsibility to Protect’ is grounded in existing obligations of international law, specifically those pertaining to the prevention and punishment of genocide. In doing so, it argues that the aspirations of the R2P project cannot be sustained by the idea of ‘responsibility’ alone. The article proceeds in arguing that the coherence of R2P depends on an unacknowledged and unarticulated theory of obligation that connects notions of culpability, blame, and accountability with the kind of preventive, punitive, and restorative action that Arbour and others advocate. Two theories of obligation are then offered, one natural the other conventional, which make this connection explicit. But the ensuing clarity comes at a cost: the naturalist account escapes the ‘real’ world to redeem the intrinsic dignity of all men and women, while the conventionalist account remains firmly tethered to the ‘real’ world in redeeming whatever dignity can be had by way of an agreement. The article concludes by arguing that the advocate of the responsibility to protect can have one or the other, but not both.


1995 ◽  
Vol 82 (1) ◽  
pp. 44-47 ◽  
Author(s):  
Eric R. Trumble ◽  
J. Paul Muizelaar ◽  
John S. Myseros ◽  
Sung C. Choi ◽  
Brian B. Warren

✓ The use of colloid agents to achieve hypervolemia in the prevention and treatment of postsubarachnoid hemorrhage (post-SAH) vasospasm is included in the standard of care at many institutions. Risk profiles are necessary to ensure appropriate use of these agents. In a series of 85 patients with recent aneurysmal SAH, 26 developed clinical symptoms of vasospasm. Fourteen of the 26 were treated with hetastarch for volume expansion while the other 12 received plasma protein fraction (PPF). Clinically significant bleeding pathologies were noted in six patients who received hetastarch as a continuous intravenous infusion. Hetastarch increased partial thromboplastin time from a mean of 23.9 seconds to a mean of 33.1 seconds (p < 0.001) in all patients who received infusions of this agent, while no effect was noted in the 12 patients who received PPF infusions. No other coagulation parameters were altered. This study shows an increase in coagulopathy with the use of hetastarch as compared with the use of PPF for the treatment of postaneurysmal vasospasm.


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