scholarly journals Paralyzed by Fear: Rigid and Discrete Pricing Under Demand Uncertainty

Econometrica ◽  
2020 ◽  
Vol 88 (5) ◽  
pp. 1899-1938 ◽  
Author(s):  
Cosmin Ilut ◽  
Rosen Valchev ◽  
Nicolas Vincent
Keyword(s):  
Demand Uncertainty ◽  
Demand Function ◽  
Quantitative Model ◽  
Real Effects ◽  
Nominal Rigidity ◽  
Wide Range ◽  
Standard Models ◽  
Micro Level ◽  
Nominal Shocks ◽  
The Relationship

We propose a new theory of price rigidity based on firms' Knightian uncertainty about their competitive environment. This uncertainty has two key implications. First, firms learn about the shape of their demand function from past observations of quantities sold. This learning gives rise to kinks in the expected profit function at previously observed prices, making those prices both sticky and more likely to reoccur. Second, uncertainty about the relationship between aggregate and industry‐level inflation generates nominal rigidity. We prove the main insights analytically and quantify the effects of our mechanism. Our estimated quantitative model is consistent with a wide range of micro‐level pricing facts that are typically challenging to match jointly. It also implies significantly more persistent monetary non‐neutrality than in standard models, allowing it to generate large real effects from nominal shocks.

The Problem of Identifying and Modeling the Relationship between Monetary Factor and Inflation in the Russian Economy

2008 ◽  
pp. 61-76
Author(s):  
A. Porshakov ◽  
A. Ponomarenko
Keyword(s):  
Money Supply ◽  
Money Demand ◽  
Russian Economy ◽  
Long Run ◽  
Complex Approach ◽  
Wide Range ◽  
Long Time ◽  
The Relationship ◽  
Supply Side Factors

The role of monetary factor in generating inflationary processes in Russia has stimulated various debates in social and scientific circles for a relatively long time. The authors show that identification of the specificity of relationship between money and inflation requires a complex approach based on statistical modeling and involving a wide range of indicators relevant for the price changes in the economy. As a result a model of inflation for Russia implying the decomposition of inflation dynamics into demand-side and supply-side factors is suggested. The main conclusion drawn is that during the recent years the volume of inflationary pressures in the Russian economy has been determined by the deviation of money supply from money demand, rather than by money supply alone. At the same time, monetary factor has a long-run spread over time impact on inflation.

COVID-19 Outbreak Prediction with Machine Learning

2020 ◽  
Author(s):  
Sina Faizollahzadeh Ardabili ◽  
Amir Mosavi ◽  
Pedram Ghamisi ◽  
Filip Ferdinand ◽  
Annamaria R. Varkonyi-Koczy ◽  
...  
Keyword(s):  
Machine Learning ◽  
Prediction Models ◽  
Fuzzy Inference ◽  
Control Measures ◽  
Future Research ◽  
Complex Nature ◽  
Inference System ◽  
Wide Range ◽  
Standard Models ◽  
High Level

Several outbreak prediction models for COVID-19 are being used by officials around the world to make informed-decisions and enforce relevant control measures. Among the standard models for COVID-19 global pandemic prediction, simple epidemiological and statistical models have received more attention by authorities, and they are popular in the media. Due to a high level of uncertainty and lack of essential data, standard models have shown low accuracy for long-term prediction. Although the literature includes several attempts to address this issue, the essential generalization and robustness abilities of existing models needs to be improved. This paper presents a comparative analysis of machine learning and soft computing models to predict the COVID-19 outbreak as an alternative to SIR and SEIR models. Among a wide range of machine learning models investigated, two models showed promising results (i.e., multi-layered perceptron, MLP, and adaptive network-based fuzzy inference system, ANFIS). Based on the results reported here, and due to the highly complex nature of the COVID-19 outbreak and variation in its behavior from nation-to-nation, this study suggests machine learning as an effective tool to model the outbreak. This paper provides an initial benchmarking to demonstrate the potential of machine learning for future research. Paper further suggests that real novelty in outbreak prediction can be realized through integrating machine learning and SEIR models.

On the Relationship between Alonso's Theory of Movement and Wilson's Family of Spatial-Interaction Models

1981 ◽  
Vol 13 (2) ◽  
pp. 217-224 ◽  
Author(s):  
J Ledent
Keyword(s):  
Input Data ◽  
Spatial Interaction ◽  
System Of Equations ◽  
Interaction Models ◽  
Spatial Interaction Models ◽  
Standard Family ◽  
Original Contribution ◽  
Standard Models ◽  
The Relationship

This paper compares the system of equations underlying Alonso's theory of movement with that of Wilson's standard family of spatial-interaction models. It is shown that the Alonso model is equivalent to one of Wilson's four standard models depending on the assumption at the outset about which of the total outflows and/or inflows are known. This result turns out to supersede earlier findings—inconsistent only in appearance—which were derived independently by Wilson and Ledent. In addition to this, an original contribution of this paper—obtained as a byproduct of the process leading to the aforementioned result—is to provide an exact methodology permitting one to solve the Alonso model for each possible choice of the input data.

scholarly journals Polymorphic Iterable Sequential Effect Systems

2021 ◽  
Vol 43 (1) ◽  
pp. 1-79
Author(s):  
Colin S. Gordon
Keyword(s):  
Algebraic Structure ◽  
Position Effect ◽  
Type Systems ◽  
Sequential Effect ◽  
Prior Work ◽  
Sequential Effects ◽  
Wide Range ◽  
The Relationship ◽  
Categorical Semantics

Effect systems are lightweight extensions to type systems that can verify a wide range of important properties with modest developer burden. But our general understanding of effect systems is limited primarily to systems where the order of effects is irrelevant. Understanding such systems in terms of a semilattice of effects grounds understanding of the essential issues and provides guidance when designing new effect systems. By contrast, sequential effect systems—where the order of effects is important—lack an established algebraic structure on effects. We present an abstract polymorphic effect system parameterized by an effect quantale—an algebraic structure with well-defined properties that can model the effects of a range of existing sequential effect systems. We define effect quantales, derive useful properties, and show how they cleanly model a variety of known sequential effect systems. We show that for most effect quantales, there is an induced notion of iterating a sequential effect; that for systems we consider the derived iteration agrees with the manually designed iteration operators in prior work; and that this induced notion of iteration is as precise as possible when defined. We also position effect quantales with respect to work on categorical semantics for sequential effect systems, clarifying the distinctions between these systems and our own in the course of giving a thorough survey of these frameworks. Our derived iteration construct should generalize to these semantic structures, addressing limitations of that work. Finally, we consider the relationship between sequential effects and Kleene Algebras, where the latter may be used as instances of the former.

Age-Dependency of Total Tau in the Cerebrospinal Fluid Is Corrected by Amyloid-β 1–40: A Correlational Study in Healthy Adults

2021 ◽  
pp. 1-8
Author(s):  
Paul Theo Zebhauser ◽  
Achim Berthele ◽  
Marie-Sophie Franz ◽  
Oliver Goldhardt ◽  
Janine Diehl-Schmid ◽  
...  
Keyword(s):  
Cerebrospinal Fluid ◽  
Amyloid Β ◽  
Healthy Adults ◽  
Tau Proteins ◽  
Clinical Settings ◽  
Inclusion Criteria ◽  
Total Tau ◽  
Potential Marker ◽  
Wide Range ◽  
The Relationship

Background: Tau proteins are established biomarkers of neuroaxonal damage in a wide range of neurodegenerative conditions. Although measurement of total-Tau in the cerebrospinal fluid is widely used in research and clinical settings, the relationship between age and total-Tau in the cerebrospinal fluid is yet to be fully understood. While past studies reported a correlation between age and total-Tau in the cerebrospinal fluid of healthy adults, in clinical practice the same cut-off value is used independently of patient’s age. Objective: To further explore the relationship between age and total-Tau and to disentangle neurodegenerative from drainage-dependent effects. Methods: We analyzed cerebrospinal fluid samples of 76 carefully selected cognitively healthy adults and included amyloid-β 1–40 as a potential marker of drainage from the brain’s interstitial system. Results: We found a significant correlation of total-Tau and age, which was no longer present when correcting total-Tau for amyloid-β 1–40 concentrations. These findings were replicated under varied inclusion criteria. Conclusion: Results call into question the association of age and total-Tau in the cerebrospinal fluid. Furthermore, they suggest diagnostic utility of amyloid-β 1–40 as a possible proxy for drainage-mechanisms into the cerebrospinal fluid when interpreting biomarker concentrations for neurodegenerative diseases.

scholarly journals Modelling the elastic mechanical properties of bioactive glass-derived scaffolds

2020 ◽  
Vol 6 (1) ◽  
pp. 50-56
Author(s):  
Francesco Baino ◽  
Elisa Fiume
Keyword(s):  
Elastic Properties ◽  
Poisson’S Ratio ◽  
Mechanical Performance ◽  
Solid Material ◽  
Poisson's Ratio ◽  
Predictive Capability ◽  
Shear Moduli ◽  
Wide Range ◽  
Constitutive Parameters ◽  
The Relationship

AbstractPorosity is known to play a pivotal role in dictating the functional properties of biomedical scaffolds, with special reference to mechanical performance. While compressive strength is relatively easy to be experimentally assessed even for brittle ceramic and glass foams, elastic properties are much more difficult to be reliably estimated. Therefore, describing and, hence, predicting the relationship between porosity and elastic properties based only on the constitutive parameters of the solid material is still a challenge. In this work, we quantitatively compare the predictive capability of a set of different models in describing, over a wide range of porosity, the elastic modulus (7 models), shear modulus (3 models) and Poisson’s ratio (7 models) of bioactive silicate glass-derived scaffolds produced by foam replication. For these types of biomedical materials, the porosity dependence of elastic and shear moduli follows a second-order power-law approximation, whereas the relationship between porosity and Poisson’s ratio is well fitted by a linear equation.

A Progressive View on Religion and Modern Art

2015 ◽  
Vol 19 (5) ◽  
pp. 488-530
Author(s):  
Cynthia Fowler
Keyword(s):  
Cultural Identity ◽  
Modern Art ◽  
Religious Art ◽  
Wide Range ◽  
Museum Professionals ◽  
The Relationship

This article examines the Religious Art of Today exhibition, originally held in 1944 at Boston’s Institute of Modern Art and then reformulated for the Dayton Art Institute in Ohio. The exhibition was eclectic in that it included a wide range of artists and a diversity of faiths, and engaged the debate held among museum professionals about the relationship between religion and modern art. The article focuses closely on Catholic, Jewish, and Navajo art included in the exhibition. The IMA’s commitment to the figurative tradition afforded artists the opportunity to explore their identities—as Jews, as Catholics, as Navajos—using recognizable religious subjects. That the works in the exhibition were selected as representative of modern art resulted in a convergence of discourses related to modern art with those of religious/cultural identity.

scholarly journals The Performance Implication of Corporate Social Responsibility: The Moderating Role of Employee’s Prosocial Motivation

2021 ◽  
Vol 18 (6) ◽  
pp. 3128
Author(s):  
Min-Jik Kim ◽  
Byung-Jik Kim
Keyword(s):  
Corporate Social Responsibility ◽  
Organizational Commitment ◽  
Social Responsibility ◽  
Organizational Performance ◽  
Future Research ◽  
Prosocial Motivation ◽  
Moderated Mediation Model ◽  
Micro Level ◽  
Corporate Social ◽  
The Relationship

Although there has been extensive research on the corporate social responsibility (CSR)–performance link, full understanding is still elusive. A possible reason for this is the limited understanding of the underlying processes that affect the relationship. Grounded in institutional theory, which emphasizes the importance of micro-level intermediating processes (e.g., employees’ perceptions and attitudes) to explain a macro-level association (i.e., CSR to organizational performance), we built a moderated mediation model where: (i) organization commitment mediated the influence of CSR on organizational performance, and (ii) an employee’s prosocial motivation moderated the relationship between CSR and organizational commitment. Using three-wave time-lagged survey data obtained from 302 Korean workers, we found that organizational commitment is an important micro-level process in the CSR–performance link, and that the level of an employee’s prosocial motivation can positively moderate that link. We discuss theoretical and practical implications, along with limitations and future research directions.

scholarly journals New Insights into Molecular Mechanism behind Anti-Cancer Activities of Lycopene

Molecules ◽  
2021 ◽  
Vol 26 (13) ◽  
pp. 3888
Author(s):  
Boon-Peng Puah ◽  
Juriyati Jalil ◽  
Ali Attiq ◽  
Yusof Kamisah
Keyword(s):  
Immune Cells ◽  
Scientific Evidence ◽  
Special Role ◽  
Real Potential ◽  
Wide Range ◽  
Anti Cancer ◽  
The Family ◽  
The Relationship ◽  
Cancer Activity ◽  
Reduced Risk

Lycopene is a well-known compound found commonly in tomatoes which brings wide range of health benefits against cardiovascular diseases and cancers. From an anti-cancer perspective, lycopene is often associated with reduced risk of prostate cancer and people often look for it as a dietary supplement which may help to prevent cancer. Previous scientific evidence exhibited that the anti-cancer activity of lycopene relies on its ability to suppress oncogene expressions and induce proapoptotic pathways. To further explore the real potential of lycopene in cancer prevention, this review discusses the new insights and perspectives on the anti-cancer activities of lycopene which could help to drive new direction for research. The relationship between inflammation and cancer is being highlighted, whereby lycopene suppresses cancer via resolution of inflammation are also discussed herein. The immune system was found to be a part of the anti-cancer system of lycopene as it modulates immune cells to suppress tumor growth and progression. Lycopene, which is under the family of carotenoids, was found to play special role in suppressing lung cancer.

scholarly journals Exploring the Relationship between Sustainable Projects and Institutional Isomorphisms: A Project Typology

2020 ◽  
Vol 12 (9) ◽  
pp. 3668 ◽  
Author(s):  
Rakan Alyamani ◽  
Suzanna Long ◽  
Mohammad Nurunnabi
Keyword(s):  
Information Exchange ◽  
External Factors ◽  
Energy Sources ◽  
Management Research ◽  
Experience Levels ◽  
Wide Range ◽  
Institutional Influences ◽  
Change Level ◽  
The Relationship ◽  
Sustainable Projects

With the increase in awareness about the wide range of issues and adverse effects associated with the use of conventional energy sources came an increase in project management research related to sustainability and sustainable development. Part of that research is devoted to the development of sustainable project typologies that classify projects based on a variety of external factors that can significantly impact these projects. This research focuses on developing a sustainable project typology that classifies sustainable projects based on the external institutional influences. The typology explores the influence of the coercive, normative, and mimetic institutional isomorphisms on the expected level of change, level of uncertainty, project team skills and experience levels, and the level of technology information exchange in sustainable projects. Two case studies are presented to demonstrate the use of the typology to classify sustainable projects based on the external institutional influences.

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