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Interconnectors play a crucial role in electric power systems. They contribute to balancing demand and supply in real-time, guaranteeing efficient dispatch in wide geographic regions, and increasing competition by creating large markets. However, interconnector capacity is a scarce resource because vertically integrated utilities were required to have generating capacity enough to supply most customers within their operating region under a regulated monopoly. Hence, identifying the efficient allocation method is essential, particularly after recent electricity market restructuring. This study evaluates the competitive effect of the implicit auction on the interconnector transmission capacity. The implicit auction allocates all the interconnector capacity simultaneously with electric energy in the day-ahead market. This method prevents market participants from strategically withholding the physical interconnector capacity ex ante to exercise market power, as allowed under the first come, first served rule. This study empirically shows how the capacity was withheld from the day-ahead market under the first come, first served rule using detailed reservation data. Next, I show that the implicit auction increases interconnector capacity available at the day-ahead market and trade volume. I use machine-learning methods, such as random forest and deep neural networks, to predict the counterfactual market outcomes without implicit auction. I find that the gain from trade under the implicit auction is more than US$55 million per year in Japan, which is more than 100 times the implementation cost of the implicit auction. [ABSTRACT FROM AUTHOR]

In this paper, we study the design and analysis of experiments conducted on a set of units over multiple time periods in which the starting time of the treatment may vary by unit. The design problem involves selecting an initial treatment time for each unit in order to most precisely estimate both the instantaneous and cumulative effects of the treatment. We first consider nonadaptive experiments, in which all treatment assignment decisions are made prior to the start of the experiment. For this case, we show that the optimization problem is generally NP-hard, and we propose a near-optimal solution. Under this solution, the fraction entering treatment each period is initially low, then high, and finally low again. Next, we study an adaptive experimental design problem, in which both the decision to continue the experiment and treatment assignment decisions are updated after each period's data are collected. For the adaptive case, we propose a new algorithm, the precision-guided adaptive experiment algorithm, which addresses the challenges at both the design stage and the stage of estimating treatment effects, ensuring valid post-experiment inference, accounting for the adaptive nature of the design. Using realistic settings, we demonstrate that our proposed solutions can reduce the opportunity cost of the experiments by more than 50%, compared with static design benchmarks. This paper was accepted by George Shanthikumar, data science. Funding: S. Athey and G. Imbens were supported by the Office of Naval Research [Grant N00014-19-1-2468]. M. Bayati was supported by the National Science Foundation [Grant CMMI 1554140]. Supplemental Material: The e-companion and data are available at https://doi.org/10.1287/mnsc.2023.4928. [ABSTRACT FROM AUTHOR]

Background: In Israel, coverage of health needs is delivered by four health maintenance organizations (HMOs), which are budgeted by the government according to the recommendations of the National Drug Formulary (NDF) Committee. For medications not listed in the NDF, individuals may request to cover the costs by the HMO Exemptions Committee (DEC). The objectives of the current study, a first of its kind, are to document the DEC decision process, to identify its components and to determine the decisions' clinical outcome. Methods: This retrospective cohort study included all members (≥ age 18) of the Maccabi Healthcare Service (MHS) who submitted a request to the DEC between June 2017 and December 2018. Collected data include patient demographics, clinical information and components of the decision process. Decision success (i.e., clinical outcome correlated with DEC decision) was determined by clinical outcome over at least one-year follow-up. Results: A total of 335 requests were included. Strong evidence and rare disease were positively associated with approvals, while the availability of alternative treatments and costs were negatively associated. The majority of decisions (75%) met predicted clinical outcomes. Only estimated costs were found to be associated with decision success. Conclusions: Factors that reduce the potential costs of a requested drug are significantly associated with higher odds for drug approval, but only when the evidence supports potential benefit. [ABSTRACT FROM AUTHOR]

Background/Aims: In March 2022, the Association for the Advancement of Medical Instrumentation (AAMI) released the American National Standards Institute (ANSI)/AAMI ST91:2021, their latest update on comprehensive, flexible, and semirigid endoscope reprocessing. These updated standards recommend the sterilization of high-risk endoscopes when possible and provide new recommendations for the precleaning, leak testing, manual cleaning, visual inspection, automated reprocessing, drying, storage, and transport of endoscopes. Methods: ANSI/AAMI ST91:2021 was compared with ANSI/AAMI ST91:2015 for major reprocessing differences that result in either time and/or cost increases. Time estimates were captured by explicit recommendation inclusion or taken from the literature. All the costs were estimated using publicly available resources. Results: The updated standards represent a potential 24.3-minute and 52.35 to 67.57 United States dollars increase per procedure in terms of reprocessing time and spending, respectively, not including capital investments. Capital costs per procedure were highly dependent on the procedure volume of the facility. Conclusions: The new AAMI standards recommend several major changes, such as sterilization, for facilities to reprocess and manage endoscopes between uses. As more facilities increase their reprocessing methods to reflect the updated standards, they do so at a cost and introduce several delays. As the reprocessing landscape evolves, facilities should consider their true costs and alternative solutions, such as single-use endoscopes. [ABSTRACT FROM AUTHOR]

Strong commercial ties promote peace as states shun the opportunity costs of economic disruption. However, trade also enriches and empowers states, rendering them more capable of enforcing long-term settlements. Given economic disruption does not last forever, countries can be incentivized to trade short-term economic losses for long-term political or territorial gains. This trade-off can restrict or even reverse the pacifying effect of commerce as it renders states incapable of committing to existing peaceful deals. I argue the scope condition hinges on the existing power imbalance and the security externalities of trade, defined as states' abilities to translate trade gains into (potential) military power. For countries where the existing power gap is not extreme, the impact of bilateral strategic trade is contingent upon a country's trade externality relative to its opponent's. Although increased bilateral trade can be peace-promoting when the relative externality is small, the pacifying effects can dissipate as a relatively weaker state becomes more capable of exploiting trade gains. Building on recent work in network analysis, I propose a new measurement of trade externalities to test the above theory and find supporting results. [ABSTRACT FROM AUTHOR]

Western states have provided billions of dollars of military aid to Ukraine to help it in its war against Russia. Yet, despite numerous discussions of the ethical issues raised by the war, there has been little discussion of the opportunity costs of this military assistance. Is it right that the West has prioritized military assistance to Ukraine, when the conflict in Ukraine is just one of numerous challenges facing the world, from forced displacement to global poverty, preventable disease to climate change? This article offers the first detailed engagement with this issue, taking seriously the nonideal feasibility constraints that states face. It firsts set out the prima facie case against assisting Ukraine militarily due to the opportunity costs. It then explores—and largely rejects—two responses: that military assistance is required to protect Ukrainian self-determination and that it is needed to stop the march of authoritarianism. It argues that the opportunity costs objection has serious force and counts against much of the provision of military assistance to Ukraine (although not all). This argument has broader implications for the extent to which states should prioritize military aid over other means of addressing global challenges. [ABSTRACT FROM AUTHOR]

The widespread adoption of electric buses (EB) is hampered by battery degradation. Battery degradation refers to the phenomenon of lithium batteries shrinking in capacity and eventually becoming unusable due to the extensive charging and discharging behavior. This paper proposes a joint optimization of EBs vehicle scheduling and charging strategies that considers both explicit charging cost and implicit battery degradation cost. First, we construct a mathematical optimization model through the graph theory. Then, the battery degradation cost is computed by investigating the relationship between battery degradation and state of charge (SoC) during charging/discharging. Finally, the proposed model is linearized and solved efficiently. Numerical results show that 7.45% of the battery degradation cost and 6% of the total cost can be saved just by simply adjusting the vehicle scheduling and charging strategies. The battery degradation cost is much larger than the charging cost, which emphasizes the need to consider battery degradation. The results also provide some practical suggestions for operators. The lowest possible initial SoC can reduce battery degradation, while increasing the number of buses has little impact. [ABSTRACT FROM AUTHOR]

This research paper delves into student perspectives on the adoption, impact, and future expectations of generative AI technologies within academic settings, employing the Value-Based Adoption Model (VAM). Data were gathered through focus group interviews with university and college students, revealing multifaceted factors that drive both adoption and resistance towards these technologies. Students articulated that the primary benefits of generative AI include its usefulness as an academic aid--facilitating homework and idea generation--and its capacity to enhance enjoyment by simplifying complex tasks. Conversely, apprehensions regarding the technical challenges and potential errors associated with AI use, as well as the implicit costs of premium features, were identified as significant barriers. These concerns, categorized as sacrifices, play a crucial role in shaping students' perceived value of generative AI tools. The perceived value, in turn, influences their intentions to adopt such technologies. Importantly, the study highlights a strong inclination among students to embrace AI tools when perceived benefits outweigh the perceived sacrifices. This paper offers valuable insights into the factors influencing student engagement with AI technologies and suggests directions for future technological enhancements and educational policies to maximize positive outcomes and mitigate drawbacks. [ABSTRACT FROM AUTHOR]

Substantial investments are made in universities patenting new developments to pursue a return. To gauge the impact of the holistic costs of patenting at universities, this study provides a new methodology for quantifying the investment in intellectual property (IP) that includes not only technology transfer staff costs but also direct and opportunity faculty-related costs. It then uses the novel methodology and publicly accessible data on an average American research university case study. The results found all component costs were higher than the IP-related income, with the opportunity cost for writing patents instead of grants being more than 33 times the income realized through IP protection. Overall, the case study university loses over $9 million per year on IP with a negative ROI of -97.6%. Research universities have opportunities to increase research income >10% by ignoring IP. It is clear that Bayh-Dole Act and similar national legislation, is harming university economics. It can be concluded that as generally practiced in the U.S. now, it is not rational to continue to support university technology transfer by patents. Instead, to improve the economic bottom lines of universities, as well as increase the good that research and development does for society, universities can open source all innovations. [ABSTRACT FROM AUTHOR]

Summary: Most cryptocurrency spot trading occurs on centralized crypto exchanges, where offers for buying and selling are organized via an order book. In liquid markets, the price achieved for buying and selling deviates only slightly from the assumed reference price, that is, trading is associated with low implicit costs. However, compared to traditional finance, crypto markets are still illiquid, and consequently, the reduction of implicit costs is crucial for any trading strategy and of high interest, especially for institutional investors. This paper describes the design and implementation of Athena, a system that automatically splits orders across multiple exchanges to minimize implicit costs. For this purpose, order books are collected from several centralized crypto exchanges and merged into an internal unified order book. In addition to price and quantity, the entries in the unified order book are enriched with information about the exchange. This enables a smart order routing algorithm to split an order into several slices and execute these on several exchanges to reduce implicit costs and achieve a better price. An extensive evaluation shows the savings of using the smart order routing algorithm. [ABSTRACT FROM AUTHOR]

I am critical of the absence of a coherent theory of costs. I criticize existing cost concepts that define cost externally, through an objectified phenomenon (input price, scarcity of goods, the value/utility of the alternative which is forgone or sacrificed) and similar Böhm-Bawerk´s attempts derived from the value of a marginal product. The critique of the opportunity costs concept, which are regarded as an agent´s economic costs regardless of the fact that they are forever lost in the alternative course of history, is under scrutiny as well. The initial proposal for a modification of the cost theory is presented. The proposal is based on the introduction of the concept of individual utility as a mental structure, called an Idea of Economic Orientation. Agent defines how something should be desirable as well as possible, and thus creates the Idea. It is reflected in reality in the form of an agent’s portfolio of goods. The individual utility is based on a structural coincidence of an Idea as a mental structure with the real economic state of affairs of an agent. I claim that an integral part of the individual utility is the structure of cost, which is reflected in reality as one part of an agent´s portfolio of goods. The cost structure thus has its factual status (recorded by accounting operations), which is at the same time influenced by the opportunistic (counterfactual) consideration of the cost structuring; so, what is contrafactual shapes the factual. The proposal thus enables the synthesis of some vital elements of previous cost theories. [ABSTRACT FROM AUTHOR]

Antibiotic effectiveness can be viewed as a biological commons since one individual's current use may decrease future effectiveness for everyone else. The value of the biological commons declines when the targeted bacteria develop antibiotic resistance. Antibiotic resistance is a global threat to health and development, causing serious economic damage and loss of human lives. The greatest share of antibiotics is used in livestock production, leading to concerns that such use may threaten human health. While various policies are in place to promote judicious use of antibiotics, their effectiveness is unclear. One key challenge in antibiotics management is the uncertainty surrounding various decisions related to antibiotic use, including whether a suspect case has an infection, how likely an infection will spread, and how effective antibiotics can be if used. We develop a disease management model that incorporates linkages among diagnostic testing decisions, antibiotic use decisions, and alternative treatment costs. We show that many unintended consequences may arise from policies designed to promote judicious antibiotic use. Antibiotics and self-tests are complements (substitutes) whenever antibiotic cost is high (low), implying that a self-test subsidy can plausibly increase expected antibiotic use. With regard to a prescription regulation (PR) that switches an antibiotic from over-the-counter to prescription, we show that while PR can reduce therapeutic antibiotic use as intended it may not achieve the social optimum. In a simple real-world application, we find that PR induces excessive veterinary service demand but does not reduce antibiotic use among typical U.S. dairy farms. PR also leads to the substitution of veterinary services for self-tests in obtaining information. We discuss how our analytical framework can be applied to other contexts, including antibiotics for human use. [ABSTRACT FROM AUTHOR]

The relationship network between enterprises will change their adoption behavior of AI technology and this micro-decision-making mechanism will eventually decide whether AI technology can diffuse and the extent of diffusion on the macro level. However, the existing AI technology diffusion research mostly focuses on the integration of AI technology with other industries from the industrial level, ignoring the complexity of the micro-complex game process and interactions within the enterprise network on the macro technology diffusion. In this regard, this paper builds a game model of AI technology diffusion in core and non-core enterprises from the levels of market competition and policy incentives based on complex network evolutionary game theory. It does this through simulation analysis that examines the mechanism of key factors affecting the diffusion of AI technology, as well as the influence and combination effects of pertinent policies. The study shows that (1) AI technology diffuses more effectively in non-core enterprises than it does in core enterprises; (2) changes in parameters like technology cost and policy regimes have a more evident impact on core enterprises than non-core ones; (3) in market competition, increasing the network average degree, the proportion of AI technology products in the mainstream market, the opportunity cost, the cost reduction factor, or decreasing the cost of AI technology can all promote the diffusion of AI technology; (4) under policy incentives, increasing the proportion of AI technology subsidies and the influence of high-tech identification of enterprises can both promote the diffusion of AI technology. [ABSTRACT FROM AUTHOR]

A financing gap is seen as a crucial barrier, hampering the further uptake and upscaling of Nature-based Solutions (NbS). However, it is not always clear what is meant by this, nor is it clear why this barrier exists and persists. The aim of this paper is to generate an enhanced understanding of financial barriers to NbS. This is accomplished through first conceptually and theoretically clarifying the difference between funding and financing and then exploring these through an integrative literature review. We expose three different dimensions of financial barriers in NbS projects, namely the occurrence of multiple types of funding gaps, the occurrence of multiple types of financing gaps, and the particular and complex cost structures of NbS. NbS funding gaps can be broken down into public funding gaps, private funding gaps, and funding gaps specific for lifecycle phases, activities, and cost types. Bridging the funding gap is a necessary (although not sufficient) condition for bridging the finance gap and financing alone cannot solve a funding problem. We further find that these different dimensions of financial barriers can be explained by the misalignment between the characteristics of NbS and the characteristics of our existing institutions. These misalignments occur through different institutional mechanism, including (i) Funders’ preferences, (ii) Revenue generation enablers, (iii) Justification requirements, (iv) Funders’ regimes, (v) Financiers’ preferences and (vi) Finance application processes. All mechanisms influence the occurrence of public and private funding and financing gaps and they influence the cost structure of NbS, in particular transaction costs. The results of this analysis suggest that overcoming NbS funding and financing challenges requires a systemic, multi-level approach as the barriers to project implementation are not all located within a project's sphere of influence or control.

The article discusses the rising costs of Medicare Advantage plans, which are driven by high federal payments and rebates, leading to higher premiums and out-of-pocket costs for beneficiaries in traditional Medicare. Topics include the financial impact of Medicare Advantage on the federal budget, the use of rebates for supplemental benefits, and the trade-offs in funding extra benefits for all Medicare beneficiaries versus maintaining the current Medicare Advantage model.

Finding meaning in life is a fundamental human motivation. Along with pleasure, meaning is a pillar of happiness and well-being. Yet, despite the centrality of this motive, and despite firms' attempts to appeal to this motive, scant research has investigated how the pursuit of meaning influences consumer choice, especially in comparison to the study of pleasure. While previous perspectives would suggest that the pursuit of meaning tilts consumers toward high-quality products, we predicted and found the opposite. As compared to a pleasure or (no goal) baseline condition, six studies demonstrate that the pursuit of meaning causes people to consider how they can otherwise use their money (opportunity costs) which in turn leads to a preference for less expensive goods. This effect is robust across multiple product categories and usage situations, including both experiential and material purchases, and is obtained even when the more expensive product is perceived to deliver greater meaning. For participants pursuing meaning, making opportunity costs salient has no effect on their choices, and encouraging opportunity cost neglect increases their willingness to pay for a more expensive item. This research thus provides an initial answer as to how the pursuit of meaning shapes consumer choice processes and preferences. [ABSTRACT FROM AUTHOR]

Platform owners regularly make decisions regarding whether, when, and how to upgrade their platforms as they compete with other platforms. These decisions must consider how platform complementors and rivals are likely to respond to various changes because a platform suffers in competition when the quantity or quality of its complementors is low. This paper analyzes such interactions in the US videogame industry. We show how a combined design rule-comparative adjustment, transaction, and opportunity cost framework can help to explain and predict these interactions in this industry. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to observe and evaluate the economic viability of Serbian farms engaged in different types of farming on the basis of data obtained from the Serbian Farm Accountancy Data Network of 2021. Farm economic viability was assessed using the opportunity costs of the main factors of production in agriculture (namely labour, land, and capital). The share of unpaid labour was found highest in the livestock farms specialising in milk production and grazing livestock. The farms specialising in permanent crops and horticulture had the largest share of their own utilized agricultural land, representing a very intensive type of farming usually organized on small acreages. The highest share of economically viable farms was recorded in the field crop farming system, followed by horticulture and permanent crops. In the viable group, the field crop farms were dominant with the largest coefficients of short- and long-term viability, which increased with the economic size of the farm. In general, the farms engaged in plant production exhibited much higher economic viability levels than the livestock farms (excluding the granivore farms). The most endangered were the farms specialising in grazing livestock, with the largest proportion of non-viable farms and the lowest coefficients of economic viability. A notable number of these farms lack economic justification for agriculture. However, ceasing agricultural production may not be the best solution for them, particularly as farms in remote rural areas are managed by elderly and low-skilled farmers.

Purpose: The present study aimed to explore possible factors that have contributed to students' boredom in physical education (PE) lessons. Methods: A total of 19 teachers (53% females and 47% males) and 112 students (50% females and 50% males) from two co-educational primary schools completed a set of questionnaires. A focused group discussion was then conducted with 20 students to further examine the relationship between situational factors and boredom. Results: Findings showed that overall, students highly enjoyed PE lessons and had low levels of anxiety and boredom. However, 20% of the participants agreed that they often experience boredom in PE lessons. In relation to the experience of boredom, a multiple regression analysis revealed that three variables (opportunity costs, monotony, and generalized boredom) were significant predictors of students' boredom scores. Conclusions: The PE teacher ought to consider the set of significant predictors of boredom when developing lesson plans and instructional strategies aimed at alleviating the negative emotional experiences. [ABSTRACT FROM AUTHOR]

Why do human rights INGOs choose to work on some issues and not others? This article contends that, since the 1990s, the proliferation of issues within the remit of human rights INGOs has increased the moral opportunity costs of selection decisions. Growth in the number and diversity of issues has led to a "selection dilemma" where decision-makers face onerous ethical choices among a significant menu of options. To explain how decision-makers deal with this dilemma, the article builds on existing theoretical work on INGOs, primarily by constructivists, proposing that heuristic-led judgment on the part of key decision-makers is a central determinant in the (non-)adoption of issues. This explanation is examined empirically using a within-case paired analysis of decision-making in Amnesty International and Human Rights Watch. The article's findings provide preliminary evidence that heuristics shape selection outcomes in INGOs, adding further weight to IR scholarship, which stresses the influence of psychology and leaders in organizational and group decision-making. [ABSTRACT FROM AUTHOR]

Environmental markets are a rapidly emerging tool to mobilize private funding to incentivize landholders to undertake more sustainable land management. How units of biodiversity in these markets are measured and subsequently traded creates key challenges ecologically and economically because it determines whether environmental markets can deliver net gains in biodiversity and efficiently lower the costs of conservation. We developed and tested a metric for such markets based on the well‐established principle of irreplaceability from systematic conservation planning. Irreplaceability as a metric avoids the limitations of like‐for‐like trading and allows one to capture the multidimensional nature of ecosystems (e.g., habitats, species, ecosystem functioning) and simultaneously achieve cost‐effective, land‐manager‐led investments in conservation. Using an integrated ecological modeling approach, we tested whether using irreplaceability as a metric is more ecologically and economically beneficial than the simpler biodiversity offset metrics typically used in net gain and no‐net‐loss policies. Using irreplaceability ensured no net loss, or even net gain, of biodiversity depending on the targets chosen. Other metrics did not provide the same assurances and, depending on the flexibility with which biodiversity targets can be achieved, and how they overlap with development pressure, were less efficient. Irreplaceability reduced the costs of offsetting to developers and the costs of ecological restoration to society. Integrating economic data and systematic conservation planning approaches would therefore assure land managers they were being fairly rewarded for the opportunity costs of conservation and transparently incentivize the most ecologically and economically efficient investments in nature recovery. [ABSTRACT FROM AUTHOR]

Ever since Varela and Maturana proposed the concept of autopoiesis as the minimal requirement for life, there has been a focus on cellular systems that erect topological boundaries to separate themselves from their surrounding environment. Here, we reconsider whether the existence of such a spatial boundary is strictly necessary for self-producing entities. This work presents a novel computational model of a minimal autopoietic system inspired by dendrites and molecular dynamic simulations in three-dimensional space. A series of simulation experiments where the metabolic pathways of a particular autocatalytic set are successively inhibited until autocatalytic entities that could be considered autopoietic are produced. These entities maintain their distinctness in an environment containing multiple identical instances of the entities without the existence of a topological boundary. This gives rise to the concept of a metabolic boundary which manifests as emergent self-selection criteria for the processes of self-production without any need for unique identifiers. However, the adoption of such a boundary comes at a cost, as these autopoietic entities are less suited to their simulated environment than their autocatalytic counterparts. Finally, this work showcases a generalized metabolism-centered approach to the study of autopoiesis that can be applied to both physical and abstract systems alike. [ABSTRACT FROM AUTHOR]

The current study used Blomquist's Project Management Self-Efficacy assessment to collect data about student's perceived project management competence before taking a graduate level project management course. The research utilized the PMSE assessment to measure actual and retrospective pre-course project management self-efficacy. No industry is immune to the need for skilled project managers. Our question is "how do you know...they know...what they say they know?" In recent years, PMI's focus was The Project Economy. In the new project economy individuals need to transform ideas into reality and deliver value to stakeholders by collaborating in teams to successfully complete projects and support organizational value streams. Findings showed that individuals with previous project management experience were more likely to overestimate their skillset before taking the class than those without previous project management experience. This gap in project management skill insight puts employers at risk for missed opportunities and unrealized cost savings. Through the application of project management tools and templates, the students learn project life-cycle approaches used in industry today and demonstrate application through completion of actual projects in a team-based setting. The real-world application of ideas allows students to bridge the gap between their conceptual knowledge and their ability to effectively manage a project. [ABSTRACT FROM AUTHOR]

As part of their ordinary enforcement activities, tax authorities around the world use letters and other forms of personalised communications to elicit tax compliance at a low cost. The literature shows that the impact of a threat-of-audit letter (TAL) depends critically on the credibility of the letter which, in turn, depends on the information disclosed to the taxpayer. We study a TAL that is credible because it also uses third-party information to target a form of cost manipulation but, at the same time, incentivises alternative forms of cost manipulation by not targeting them. We find that the direct impact on the targeted cost manipulation is stronger than the strategic increase in other costs, and therefore the overall effect of the TAL on taxable income is positive. Our approach can be applied to any letter or enforcement action that reveals information to taxpayers and thus prompts their strategic responses. By observing the taxpayers' responses along all relevant dimensions, the tax authority can evaluate the impact of the strategy and also obtain valuable information to target future enforcement activities. [ABSTRACT FROM AUTHOR]

In recent years, I‐III‐VI semiconductor quantum dots (QDs) have shown significant improvements that have unlocked new capabilities and end markets. Some typical examples of I‐III‐VI QDs are CuAlS2 (blue), AgInS2 (green), CuInSe2 (red) CuInSe2 (near‐IR), but other compositions and alloys are possible. These materials exhibit tunable photoluminescence (PL) emissions, and can achieve near unity PL quantum yield. They can have efficient broad emission, but also can have narrow emission, large Stokes shifts, and high optical extinction coefficients. These materials are often more stable, safer, and lower cost than alternatives such as CdSe, InP, and PbS or PbSe QDs. In this work, we discuss industrialization and scale‐up of I‐III‐VI QDs, starting with critical end uses related to spectrum optimization for greenhouses and solar energy. We also update on recent progress narrowing the emission linewidth (full‐width at half maximum) of I‐III‐VI QDs to the point that they are becoming competitive with legacy QDs used in displays and lighting. [ABSTRACT FROM AUTHOR]

The cultural distance between the acquiring and acquired firms is a double-edged sword in cross-border high-tech acquisitions. It magnifies the ‘combination potential’ of the acquisition but also poses severe integration challenges. Scholars have highlighted that the retention of acquired CEOs in combined entities is an effective integration action to address these challenges but have generally considered it from the acquiring firms’ perspective only. In this study, we also take into account the acquired CEOs’ perspective and find that the permanence of acquired CEOs in the post-acquisition organization depends on the balance between the acquiring firms’ incentives to retain the acquired CEOs and the acquired CEOs’ opportunity costs to remain in the company. Specifically, we argue that both sides increase with the cultural distance between the acquiring and acquired firms and that the acquired CEOs’ personal characteristics and context-specific conditions also influence this balance. We test our hypotheses using a sample of 447 cross-border acquisitions of small high-tech firms by large listed firms between 2001 and 2014. Our findings confirm our expectations and highlight the role of micro-foundational characteristics in shaping the effect of key macro-level factors on the integration of high-tech acquisitions in international contexts. [ABSTRACT FROM AUTHOR]

This study uses covenant violations as a quasi-natural experimental setting to examine creditors' roles in shaping corporate cost behavior. Using a regression discontinuity design, I find that cost stickiness experiences a sharp decline following debt covenant violations when control rights are transferred to creditors. The cost stickiness effect is more substantial for borrowers with lower credit ratings and when creditors possess greater bargaining power. The effect is also more pronounced during industry downturns when borrowers have fewer alternative sources of finance. Results are consistent when I use alternative measures of cost stickiness and alternative research designs. Overall, my evidence indicates that creditors play a monitoring role in firms' cost behaviors and identifies a specific channel (loan covenants) through which the misalignment of incentives can impact cost asymmetry. JEL Classifications: D24; G32; M41. [ABSTRACT FROM AUTHOR]

In the last decade, permanent magnet (PM)-free or hybrid PM machines have been extensively researched to find an alternative for high cost rare-earth PM machines. Brushless wound rotor synchronous machines (BL-WRSMs) are one of the alternatives to these PM machines. BL-WRSMs have a lower torque density compared to PM machines. In this paper, a new topology is introduced to improve the torque producing capability of the existing BL-WRSM by utilizing the vacant spaces in the rotor slots. The new topology has two harmonic windings placed on the rotor which induce separate currents. A capacitor is used between the two harmonic windings to bring the currents in phase with each other. The harmonic winding currents are fed to the rectifier which is also placed on the rotor. Due to additional harmonic winding, the overall field current fed to the rotor field winding has been increased and hence the average torque has also increased. Finite element analysis (FEA)-based simulations are performed using ANSYS Maxwell to validate the proposed topology. The results show that the average torque of the machine has been significantly increased compared to the reference model. The detailed comparison results are provided in this paper. [ABSTRACT FROM AUTHOR]

Reflecting on the limitations of a study is a crucial part of the research process. In software engineering studies, this reflection is typically conveyed through discussions of study limitations or threats to validity. In current practice, such discussions seldom provide sufficient insight to understand the rationale for decisions taken before and during the study, and their implications. We revisit the practice of discussing study limitations and threats to validity and identify its weaknesses. We propose to refocus this practice of self-reflection to a discussion centered on the notion of trade-offs. We argue that documenting trade-offs allows researchers to clarify how the benefits of their study design decisions outweigh the costs of possible alternatives. We present guidelines for reporting trade-offs in a way that promotes a fair and dispassionate assessment of researchers' work. [ABSTRACT FROM AUTHOR]

Despite the recent improvements, there is still a problem of access to WASH services. This problem access is linked to poverty and inequality, which in turn cause difficulties in accessing water, thus creating a vicious cycle. This article analyses this vicious cycle using data from international organisations related to these issues. These data show how the lack of water access leads to limitations for households, which are deprived of employment or/and education due to the difficulty in obtaining water. This opportunity cost is the main mechanism through which the feedback between lack of access to water and economic poverty occurs. Not being able to obtain employment or/and education makes it impossible to get out of a precarious situation, which prevents the wider society to benefit from any economic gain, which in turn slows down the achievement of the goal of guaranteeing access to water for all. The responsibility lies with national and international institutions, which should not only focus on obtaining the necessary financial resources for infrastructure improvements, but also on having adequate governance to ensure water sustainability and equity. [ABSTRACT FROM AUTHOR]

This paper deals with the question of the relative contribution of spouses to the long-term care (LTC) needs of their dependent parents and parents in-law. Starting from a theoretical model and using SHARE data, the paper focuses on the role of gender and blood relationships as well as the effect of differential opportunity costs within the couple. The results tend to confirm the existence of gender and blood biases in the level of informal care provided by each spouse, while their wage does not seem to play a large role. When we consider the relative level of informal care by spouses, the gender and blood biases are confirmed. Furthermore, the wage ratio is negatively related to the informal care ratio. These results imply that informal care and private insurance coverage may depend on the gender composition of children, which may justify differentiated public LTC transfers. [ABSTRACT FROM AUTHOR]

The supply of electrical energy in Indonesia is predominantly reliant on fossil fuels due to their abundant availability, ease of extraction, and lower cost. However, the continued use of fossil fuels increases CO2 emissions, contributing to the greenhouse effect. Additionally, fossil fuel prices are rising, their reserves are finite, and they require extensive replenishment time. Consequently, a transition from fossil fuels to renewable energy sources is imperative. The Indonesian government has designated Sumba Island as a pilot project under the Sumba Iconic Island (SII) program. Waingapu in East Nusa Tenggara (NTT) is notable for its significant Diesel Power Plant (PLTD) capacity of 9,450 kW, supplemented by a 2,000 kWp Solar Power Plant (PLTS). This study presents a techno-economic analysis of implementing Wind Power Plants (PLTB) and Battery Energy Storage Systems (BESS) to reduce reliance on PLTD operations. The HOMER software is utilized for system optimization, allowing for design, optimization, and evaluation from both technical and economic perspectives. Sensitivity analysis assesses the impact of fuel price increases on the optimal system configuration under current and future conditions, with a total daily energy demand of 115.6 MWh/day. The economic analysis reveals that the existing scenario has a Levelized Cost of Energy (LCOE) of $0.254/kWh. Incorporating wind turbines and BESS reduces the LCOE to $0.136/kWh. Achieving 100% renewable energy penetration with a PVWind-BESS configuration generates an LCOE of $0.221/kWh. [ABSTRACT FROM AUTHOR]

The U.S. is currently the country with the highest number of COVID-19 deaths. By the second week of October 2021, over 700,000 people in the U.S. had died after contracting the virus. When estimating the cost and benefit of a COVID-19 prevention measure, the value of a statistical life (VSL) has been widely used as an approximation for the value of a lost life. However, VSL arguably overstates the costs of deaths caused by COVID-19 because VSL captures the private individual's benefit, and it is the same for everyone regardless of where they live, their productivity, their age, and their gender. In this study, rather than looking at the cost of life loss due to COVID-19, we focus on the opportunity costs of COVID-19 deaths to society. The opportunity cost of COVID-19 deaths is defined as the combination of direct medical costs and the costs of lost potential lifetime earnings. Our analysis focuses on the period from March 2020 to October 2021. We then quantify the average opportunity cost of COVID-19 deaths across the U.S. and by state level. [ABSTRACT FROM AUTHOR]

On any given day, we make countless reaching movements to objects around us. While such ubiquity may suggest uniformity, each movement's speed is unique—why is this? Reach speed is known to be influenced by accuracy; we slow down to sustain high accuracy. However, in other forms of movement like walking or running, metabolic cost is often the primary determinant of movement speed. Here we bridge this gap and ask: how do metabolic cost and accuracy interact to determine speed of reaching movements? First, we systematically measure the effect of increasing mass on the metabolic cost of reaching across a range of movement speeds. Next, in a sequence of three experiments, we examine how added mass affects preferred reaching speed across changing accuracy requirements. We find that, while added mass consistently increases metabolic cost thereby leading to slower metabolically optimal movement speeds, self-selected reach speeds are slower than those predicted by an optimization of metabolic cost alone. We then demonstrate how a single model that considers both accuracy and metabolic costs can explain preferred movement speeds. Together, our findings provide a unifying framework to illuminate the combined effects of metabolic cost and accuracy on movement speed and highlight the integral role metabolic cost plays in determining reach speed. Author summary: How the brain implicitly controls movement speed remains unclear despite the prevalence of anomalous movement slowing in a range of movement and mental health disorders. Reaching speed has long been thought to be dictated by accuracy. Despite the predominant influence of metabolic cost on walking speed, any influence of effort on the control of speed in relatively low effort reaching movements has been underappreciated. Here we show that the implicit control of reaching speed is influenced by both the metabolic and accuracy requirements of the movement. We next propose a mathematical model that explains how accuracy, metabolic expenditure, and time costs, interact to determine the implicit choice of movement speed. Our results highlight that disease-related movement slowing can be modulated by factors beyond accuracy. Importantly, we show that movement costs such as metabolic cost have a strong influence, despite the relatively low cost of reaching. Economic variables such as time and subjective effort costs can also lead to movement slowing. Taken together, we present a unifying framework with which to interrogate the critical role accuracy, effort and time costs play in the implicit control of movement speed in health and disease. [ABSTRACT FROM AUTHOR]

In politics and society, organic farming is widely seen as the ideal way to address the many challenges facing agriculture and food security. In order to examine the extent to which this view is realistic, the impact of organic and conventional farming is compared on the basis of relevant criteria such as land requirements, greenhouse gas emissions, biodiversity, food quality, production and environmental costs, reduced meat consumption, the need for agricultural imports and the global expansion of arable land. Land is considered to be a central factor. Such a comprehensive analysis is necessary to assess the impact of different influencing factors and to provide important suggestions for targeted decision making. Although organic farming has a positive impact on land use in many ways, it quickly reaches its limits. The low yields and high production costs resulting from the limited choice of means of production make organic farming an unsuitable model for the future in a world with limited arable land, a high and growing demand for food, and low incomes for large sections of the population. It can, however, provide significant impetus and contribute important technological knowledge for the further development of agriculture as a whole to meet the complex objectives of sustainability, greenhouse gas mitigation, biodiversity and global food security by incorporating all available technologies. Based on this, a model for responsible, sustainable intensive agriculture is outlined and proposals for an eco-social framework to support this model are put forward. [ABSTRACT FROM AUTHOR]

Conventional wisdom and evidence from democracies suggest that more education should increase voter turnout. This paper revisits this issue by analyzing turnout in China's rural elections. Employing an instrumental variable strategy, I find that more education reduces turnout in rural elections. I provide suggestive evidence that more educated people may face higher opportunity costs of voting, which explain about a quarter of cross-province variation in education-turnout links. I also discuss the role of other factors, including Confucian culture and election stakes. [ABSTRACT FROM AUTHOR]

Large quantities of 'negative emissions' will be required to meet the 1.5°C temperature target under the Paris agreement. As nations consider more ambitious emissions reductions goals, policy makers, carbon market participants and environmental advocates need to estimate the potential scale of nature-based climate solutions (NCS), against the opportunity cost of current land use. In this study we construct a simple linear regression model of the relationship between carbon abatement potential and agricultural profitability, the latter a proxy for opportunity cost, to describe the total set of options for NCS on the Australian continent. Sampling these same two variables at the sites of over 800 land-based offset projects accredited since 2015 shows how the market selected from these abatement options. The model demonstrates that offset projects, under a range of crediting methodologies, were typically selected where the ratio of abatement potential to opportunity cost is maximized. These results, produced from two readily available spatial variables, provide an empirically derived framework for those with an interest in the structure of the long-run supply curve for land-based carbon abatement. This modelling approach could be applied in any geographic region where similar spatial variables for agricultural profitability and abatement potential are available. We find a strong positive correlation between the quantity of abatement potential on a land parcel and its potential opportunity cost, the latter represented by agricultural profitability. The lowest cost abatement will be obtained by policies, including market mechanisms, that optimize these two factors rather than prioritizing one over the other. Policies that direct projects to 'marginal' agricultural land may lead to a more costly emissions reduction pathway. Our modelling approach is a key input to the development of a long-run supply curve for land-based abatement, essential to any strategy that relies heavily on negative emissions. Understanding the drivers of land-based abatement projects can help to predict the land use policy impacts of a higher offset requirement. [ABSTRACT FROM AUTHOR]

Biomonitoring of marine life has been enhanced in recent years by the integration of innovative DNA‐based approaches, which offer advantages over more laborious techniques (e.g. microscopy). However, trade‐offs between throughput, sensitivity and quantitative measurements must be made when choosing between the prevailing molecular methodologies (i.e. metabarcoding or qPCR/dPCR). Thus, the aim of the present study was to demonstrate the utility of a microfluidic‐enabled high‐throughput quantitative PCR platform (HTqPCR) for the rapid and cost‐effective development and validation of a DNA‐based multi‐species biomonitoring toolkit, using larvae of 23 commercially targeted bivalve and crustacean species as a case study. The workflow was divided into three main phases: definition of (off‐) target taxa and establishment of reference databases (PHASE 1); selection/development and assessment of molecular assays (PHASE 2); and protocol optimization and field validation (PHASE 3). 42 assays were eventually chosen and validated. Genetic signal not only showed good correlation with direct visual counts by microscopy but also showed the ability to provide quantitative data at the highest taxonomic resolution (species level) in a time‐ and cost‐effective fashion. This study developed a biomonitoring toolkit, demonstrating the considerable advantages of this state‐of‐the‐art technology in boosting the developmental testing and application of panels of molecular assays for the monitoring and management of natural resources. Once developed, this approach provides a cost and time‐effective alternative compared to other multi‐species approaches (e.g. metabarcoding). In addition, it is transferable to a wide range of species and will aid future monitoring programmes. [ABSTRACT FROM AUTHOR]

This paper investigates whether government support for small and medium-sized enterprises (SMEs) in an emerging economy creates their reluctance to grow, which is analogous to the Peter Pan Syndrome. We test our hypotheses by regression analyses on a sample of 2,779 firms from a unique Korean Innovation Survey dataset from 2005 to 2007. Our empirical results show that SMEs tend to hinder their growth as they approach SME eligibility thresholds beyond which public support ceases. Such a tendency intensifies as SMEs grow closer to the employment-size-contingent SME eligibility threshold and as they receive more public support. In addition, the likelihood of the Peter Pan Syndrome is conditioned by both firm- and industry-specific characteristics. As government support for SMEs based on size-contingent eligibility criteria has a detrimental side-effect, other merit- or effort-based criteria should be considered. It is also desirable to reduce the opportunity cost involved in graduating from SMEs. [ABSTRACT FROM AUTHOR]

FRAND (fair, reasonable and non-discriminatory) is a highly debated acronym that has been scrutinised, expounded and tested in scholarly works, courtrooms, and policy discussions. Initially employed as a remedy means and access tool in sector-specific and standards-setting contexts, FRAND has recently made its way into the emerging EU data governance regime. Given this new position, it is appropriate to examine FRAND critically as a universal access mechanism of the information law domain at large. Drawing on a narrative of FRAND in SEP licensing, this article reflects on the innate capacity of FRAND to act as a flexible governance instrument. Examining regulatory forces and patterns guiding the interpretation of FRAND, the article presents the interplay of self-governance, national and EU layers of regulation. As shown, the determination of FRAND is firmly grounded on institutional and procedural norms, both in a standardisation context and beyond. The analysis highlights the fact that such a regulatory approach has costs and opportunities. To harness the flexibility of FRAND as a universal information access tool, it is essential to gain more clarity as to the content and goals of FRAND-enabled transactions. It is also critical to ensure that the efficiency of such a regulatory approach does not come at the cost of compromising on the protection afforded by EU fundamental rights and freedoms. [ABSTRACT FROM AUTHOR]

This paper studies certification design and its implications for information disclosure. Our model features a profit‐maximizing certifier and the seller of a good of unknown quality. We allow for common values as the seller's opportunity cost may depend on the quality of the good. We compare certifier‐optimal with transparency‐maximizing certification design. Certifier‐optimal certification design implements the evidence structure of Dye (1985)—a fraction of sellers acquire information while the remaining sellers are uninformed—and results in partial disclosure to the market. A transparency‐maximizing regulator prefers a less precise signal, which conveys more information to the market through a higher rate of certification and unraveling (Grossman (1981), Milgrom (1981)) at the disclosure stage. [ABSTRACT FROM AUTHOR]

Over the past decade, the academic community has been increasingly interested in the impact of "unreasonable tasks," a work-related stressor. Extensive research has consistently demonstrated the detrimental effects of these tasks. However, a notable research gap exists in understanding the potential double-edged sword effect they have. To address this gap, the present study developed a moderated dual-mediation model rooted in the cognitive appraisal theory of stress. The primary objective was to investigate the dual nature of unreasonable tasks, specifically examining their influence on thriving at work while considering the underlying factors that shape these effects. Drawing from a sample of 522 participants collected from China, the analysis revealed intriguing findings. On the one hand, unreasonable tasks were found to foster thriving at work by eliciting challenge appraisals. On the other hand, they were also found to impede thriving at work through hindrance appraisals. Moreover, the study uncovered an important moderating role of learning goal orientation for the relationship between unreasonable tasks and cognitive appraisals. These findings make a significant contribution to enhancing understanding of the intricate dynamics associated with unreasonable tasks. They offer pragmatic implications for managers seeking effective strategies to navigate this terrain. [ABSTRACT FROM AUTHOR]

Concerns over both water quality and quantity continue to increase globally. As the need for useable and potable water becomes more of a widespread issue, there is an opportunity to review and consider alternatives to how water is used, consumed, and sustained for future use by the world's population. A review of data across cities within North America shows improvement opportunities in water infrastructure systems. Using water audit and loss control data from the American Water Works Association (AWWA) and the Water Research Foundation (WRF), an analysis is provided to define opportunities for mitigating water losses among select North American Water Infrastructure systems in the U.S. states of Georgia and California. The research methodology used includes statistical analysis data while grouping utility sizes to identify utility cost opportunities. Variables on water loss and customer cost that have a positive impact on overall and long-term water system sustainability are identified. The analysis shows California, while having firm water guidance and higher rates compared to Georgia, also demonstrates less overall water loss. The results of the analysis are presented, showing comparison characteristics and opportunities for additional change to improve utility funding. [ABSTRACT FROM AUTHOR]

Climate change continues to affect food production and farmers incur additional costs to adopt appropriate adaptation strategies to combat its effects and attain food security. To enhance adaptive and sustainable coping strategies and food security, it is necessary to study the opportunity costs of implementing climate adaptations and how they influence the net revenue of farmers. Therefore, the study empirically investigates adaptation to climate change and the net revenue of cassava farmers in Southwest Nigeria. The primary data used for this study were collected through a well-structured questionnaire for 221 respondents. The analytical methods used were descriptive statistics, paired sample tests, and multiple regression. Analysis revealed that the majority (55%) of the sampled cassava farmers employed planting different varieties and using agrochemicals as their main adaptation strategies. The results revealed that insufficient funding and labour shortage were the main barriers to adaptation in the study area. The results of opportunity cost on net revenue and costs using paired samples test revealed that cassava farmers derived and perceived the utility and the net benefits using adaptation measures than when it is not used. The result of the regression showed that climate variables such as adaptation options, rainfall, and access to climate information are co-joint with socioeconomic and production factors to determine the average net revenue in the area. Therefore, the study suggests that the costs of adaptation resources should be subsidized by the government at affordable prices for the farmers. [ABSTRACT FROM AUTHOR]

This paper studies the influence of the weave parameter on the ballistic performance of multi-ply systems. Three types of plain weaves were put into investigation, namely, A090, A200, and A400. Tensile and yarn pull-out tests were performed to investigate the responses of fabric upon quasi-static loading. Penetration tests were performed to characterize the energy absorption capability of different multi-ply systems at impacting velocities ranging from 250 m/s to 460 m/s. It was found that the strength of the fabric sample increased almost linearly with fabric areal density, and the coarser weaves exhibited a greater resistance against yarn pull-out. The ballistic limit (V 50) of finer weave 13A9, is around than 42.5% higher than coarser weave 3A4. In terms of hybrid systems, placing finer fabrics in front and coarser fabrics in the rear exhibits higher ballistic limits than the reversed sequence (8–20 m/s differences), while placing coarser fabrics in front exhibited greater energy absorption capability when the impact velocity is sufficient to cause instant and localized failure. It was also found that the ballistic performance of the hybrid systems does not alter significantly with the mass percentage of the coarser weaves at high impact velocities (greater than 400 m/s). The results indicate that replacing the expensive ballistic weaves with cheap materials in a hybrid system is a reasonable alternative to achieve cost reduction without significant performance degradation. [ABSTRACT FROM AUTHOR]