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We develop an algorithm for solving a large class of nonlinear high-dimensional continuous-time models in finance. We approximate value and policy functions using deep learning and show that a combination of automatic differentiation and Ito's lemma allows for the computation of exact expectations, resulting in a negligible computational cost that is independent of the number of state variables. We illustrate the applicability of our method to problems in asset pricing, corporate finance, and portfolio choice and show that the ability to solve high-dimensional problems allows us to derive new economic insights. [ABSTRACT FROM AUTHOR]

Renowned brands and recycling agencies tacitly integrate their business flows together in the current trade-in industry. The collaborative trade-in programme breaks the hierarchy of closed-loop supply chains and provides seamless services for consumers. In this study, we develop a stylised model to capture the change in supply chain structure and scrutinise trade-in collaboration and recycling competition between sellers and recyclers. We find that, under intensive recycling competition, price targeting new consumers is downward distorted by the seller to occupy more trade-in demands in the old consumer segment. Meanwhile, the rebate of the recycler is suppressed by the collaboration constraint. By distorting the price, the seller obtains the predominance in recycling competition while sacrificing part of profits from new consumers. The price distortion indicates the competition spill-over from the old consumer segment to the new consumer segment. Furthermore, the establishment of autonomous recycling reaches a Pareto improvement for the whole system when the competition is mild; otherwise, these two entities fall into a zero-sum scenario. Our study offers insights into recycling value allocation and trade-in partner choice and, theoretically, contributes to the economic literature that price distortion can even be forced by competition with the absence of information asymmetry. [ABSTRACT FROM AUTHOR]

We consider a stochastic capacitated lot sizing problem with in-line rework. Both defective and defect-free products can be the result of an imperfect production process in real-world production systems. However, the proportion of defective items in a production lot is subject to uncertainty. For economic and environmental reasons, the possibility to rework defective products appears reasonable since these products usually have considerable value. In this paper, a nonlinear model formulation for integrated lot sizing and rework planning is proposed. We use a sample average approach to approximate the generic nonlinear model formulation. To cope with the randomness of the proportion of defective products, we apply a flexible planning approach that allows the adjustment of production and rework quantities. We conduct extensive numerical investigations to evaluate the performance of the proposed planning approach. [ABSTRACT FROM AUTHOR]

Over the last half-century, consumer research has often depicted scarcity as a dominant factor increasing price. But should we assume that scarcity's upward pressure on price remains intact, in a world where novel forms of digital products proliferate? In this article, we propose that blockchain-encrypted digital goods, in particular, non-fungible tokens (NFTs), offer good reason to revisit this assumption. In this context, we argue and find that social value can outweigh intrinsic value as a determinant of willingness-to-pay. As a result, when scarcity threatens access to high levels of social value, its effect on price can be negative rather than positive—an inversion of a pattern typically observed for offline collectibles. Secondary data taken from the NFT platform Opensea and a set of experimental studies support this social value-based lens. Given these findings, we propose a research agenda to ground future work in this area. We also suggest that NFTs offer a laboratory in which past theories related to social value, scarcity, and price can be reconsidered and future theories developed, hopefully allowing consumer researchers to lead knowledge development in these domains over the next 50 years. [ABSTRACT FROM AUTHOR]

This research enriches the field's perspective on value and argues that to seriously address inequality during the next 50 years, consumer research must explore processual aspects of value hierarchy and consider its relationship to inequality. Doing so recognizes the duality of structures as embodying outcomes and agency, as well as the need to view value not only as what it is but also as what it does. To begin to address limitations in the literature, we use empirical evidence from an investigation of the cancer care market from 1970 to 2021 to understand how value hierarchy shapes and manifests as inequality. This is conceptualized as: distribution of multilevel resources, consolidation of consumer power, stratification of consumer agency, and (de)credentialization of worthiness. Building on each of these, we discuss a research agenda for future JCR inquiries and introduce "value hierarchy as inequality" as a big-tent issue for consumer research. [ABSTRACT FROM AUTHOR]

Owners value heritage goods, items that connect them to a shared past, whether through their alma mater or their family history. This research considers the impact of heritage on owners who wish to sell such goods. In five studies, the authors demonstrate that sellers have a lower willingness to accept when selling heritage goods to buyers with a shared heritage connection relative to buyers without this connection (i.e., a heritage discount). This heritage discount cannot be explained by ingroup favoritism, sentimental value, or appropriateness of buyer usage and persists even when sellers perceive that the buyer has a higher willingness to pay. The authors provide process evidence that the effect of the buyer's identity on the seller's willingness to accept is driven by concerns about heritage loss. The findings contribute to literatures on sharing, sentimental goods, psychological ownership, and the endowment effect and have marketing implications for consumer goods (e.g., collectibles) that derive product value by connecting consumers to meaningful history and traditions. [ABSTRACT FROM AUTHOR]

We introduce a new approach to estimating long-term aggregate discount rates using the cross section of earnings and book values to explain current stock prices and extract expected market returns. The proposed discount rate measure is countercyclical. Shocks to it account for nearly half of historical market return variation; in contrast, shocks to other discount rate measures account for no more than 2%. It dominates other measures in explaining time-series variation in returns on duration-sorted portfolios and delivers out-of-sample predictability that exceeds that afforded by other expected return measures and predictive variables. It also performs well in international equity markets. [ABSTRACT FROM AUTHOR]

The purpose of the article is to analyze the relevance of earnings fundamentals in predicting extreme price reversals of an emerging stock market. We collect monthly price data on six sector indices from Bombay Stock Exchange (BSE) of India for the period 2004–2019. The research decomposes industry stock returns into Potential Maximum Gains (PMG) and Potential Maximum Losses (PML) with price extremes at first and then tests price reversal behavior using Generalized AutoRegressive Conditional Heteroskedasticity (GARCH) and vector autoregressive (VAR) models. The study finds symmetry between PMG and PML in the banking, realty, and oil sectors, while the asymmetric reversal behavior is noted in the automobiles and capital goods industries. The presence of industry fundamentals in the models estimating the reversal behavior of share prices enhances their predictive power, which suggests the significance of value strategies in making gains from extreme price variations. The price reversal behavior is sector specific and found inconsistent in emerging market. Hence, the investors cannot overlook the relevance of the industry characteristics and earnings fundamentals while predicting the stock price behavior in emerging markets. [ABSTRACT FROM AUTHOR]

We propose a loglinear present-value identity in which investment ("scale"), profitability ("yield"), and discount rates determine a firm's market-to-book ratio. Our identity reconciles existing influential market-to-book decompositions and facilitates novel insights from three empirical applications: (1) Both investment and profitability are important contributors to the value spread and stock return news variance. (2) Any cross-sectional return predictability has a mirror image in cash-flow fundamentals, providing asset pricing theories with additional moments to match. (3) The investment spread significantly improves the predictability of time-series variation in the value premium and justifies the poor performance of value in recent years. [ABSTRACT FROM AUTHOR]

We discuss that entry can be considered from various levels of analysis: entrepreneur-level, firm-level, and also at higher levels of aggregation, such as the industry-level and country-level. We also formulate a list of six challenges for econometric studies of firm entry, highlighting the data sources, typical empirical setups, potential sources of bias, and appropriate econometric techniques. While progress can be made with sophisticated econometric estimators, a pressing need for entry studies concerns detailed data on the gestation process, entry modes, and the value of resource endowments and knowledge endowments. [ABSTRACT FROM AUTHOR]

Encouraged by the ubiquitous belief entrepreneurship's value as a source of economic growth, for many governments developing entrepreneurial ecosystems has become elemental to their development strategies, representing a prominent trend in public entrepreneurship policy. However, the entrepreneurial ecosystems field is recent, undertheorized, and fragmented, limiting its capacity to explain the effects of entrepreneurial ecosystem policies. Advancing research is crucial for advising policy makers on how to formulate effective entrepreneurial ecosystem policies that are decisive for developing ecosystems. Lacking such solid and coherent theoretical foundations, entrepreneurial ecosystem policies risk being ineffective, while policy makers tend to simply replicate entrepreneurial ecosystem policies from other entrepreneurial ecosystems. We aim to address this issue by providing guidance on key parameters to inform the formulation of entrepreneurial ecosystem policies. The development of entrepreneurial ecosystems requires customizing a mix of policies adapted to the unique characteristics of each ecosystem, promoting the quality of entrepreneurship to ensure the allocation of resources to productive use, and addressing the complexity of entrepreneurial ecosystems with a holistic policy approach. Based on our findings, we present a conceptual framework and discuss three parameters for policy formulation: top-down versus bottom-up formulation, support to systemic versus framework conditions, and holistic versus siloed approaches. [ABSTRACT FROM AUTHOR]

We propose a security design model in which a potential acquirer approaches a firm with a value-add plan. The target has a single owner, who possesses private information: he alone knows whether his firm is compatible with the plan. The owner agrees that the acquirer will add value but believes that the value-add will not be as much as what the acquirer expects. Although the acquirer can choose any monotone limited liability security to offer along with cash, we show that, under general conditions, any security that is employed always takes the form of nonrecourse debt provided by the seller. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study revisits the question of predicting patent value with observed patent statistics, exploiting a rare public auction of patents in China in which the starting prices are used as approximates of patent private value. Family size and the number of assignees come out as the most consistent indicators, while notably, forward citations turn out to be not important. This discrepancy with past studies is investigated. We propose some of the institutional features in the Chinese patent system could lead to the forward citations not as informative as their counterpart in other jurisdictions. The findings bear important implications as Chinese patent data are increasingly being used in innovation studies. [ABSTRACT FROM AUTHOR]

Once scaled, online platforms reconfigure value to remain competitive. Reconfiguration in online platforms may take a different form than in pipelines, as online platforms are intermediaries that generate network effects among the sides they connect. They also face stiff competition from other spheres due to lower barriers to entry. Why and how do online platforms reconfigure value? By examining 13 Indian online platforms that have achieved a certain level of success (such as tipped markets, investor confidence, or profitability), this article offers four strategies for reconfiguring online platforms: enhance interactions, enhance capabilities, offer new services, and nurture new transactions. [ABSTRACT FROM AUTHOR]

We find that the Campbell–Cochrane external-habit model can generate a value premium if the persistence of the consumption surplus is sufficiently low. Such low persistence is supported by micro evidence on consumption. If the mean and conditional volatility of consumption growth are highly persistent, as in the Bansal–Yaron long-run risk model, then fast-moving habit can also generate, without eroding the value premium: i) empirically sensible long horizon return predictability; and ii) a price–dividend ratio for market equity that exhibits the high autocorrelation found in the data. Fast-moving habit also delivers several empirical properties of market-dividend strips. [ABSTRACT FROM AUTHOR]

Focusing on the Australian Football League and its development of a national competition for women, this article contributes toward broader debates around the inclusion and incorporation of women in professional sport. It traces the particular logics and desires (such as corporate expansion) that drove the Australian Football League to develop a women's competition in the name of equality. We map the organizational tensions and affects that produce (the doing of) gender equality through different desires. Drawing on feminist new materialist conceptions of assemblage, we work to identify the material (numbers of women and girls participating, revenue, and expenses) and discursive (attitudes toward girls and women, meanings attached to sport, and gender) entanglements that contribute to the (de)valuing of women in male-dominated sporting organizations and how this might be disrupted both now and in the future. [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Economists typically estimate the economic value of wildlife-associated recreation by applying valuation methods to individual data collected from mail and internet surveys, however, surveys are limited to what respondents choose to report as well as who chooses to respond. Government records and mobile applications that track recreational activity can also provide data for economic valuation if activities can be linked back to individual decision-makers. One particularly intriguing source of government information is harvest check-in data, which tracks hunting success. In this paper, we examine the comparability of economic values based on surveys and harvest check-in data using a site choice model. While we find evidence the datasets yield different models, large and substantial differences are the exception rather than the rule, especially once we accurately account for individual trip costs. Our findings support the conclusion that data generated through surveys and harvest records are capable of producing similar valuation estimates. [ABSTRACT FROM AUTHOR]

This article discusses the cost-effectiveness of using natriuretic peptides (NPs) to screen for and treat stage B heart failure (HF) in individuals with type 2 diabetes. The study used a Markov state-transition model and conducted simulations over multiple annual cycles. The results showed that NP screening and treatment provided high value after at least 7 years, according to the incremental cost-effectiveness ratio (ICER). However, the study has limitations, such as not considering additive therapy with finerenone and using probabilities from different studies. Further research is needed to fill in data gaps and determine the most cost-effective screening strategy for individuals at high risk of incident HF. [Extracted from the article]

Aim: To highlight oversimplified quality‐adjusted life year (QALY) calculations and incremental cost‐effectiveness ratios (ICERs) regarding lifestyle metformin and placebo as flaws in the trial‐based (Diabetes Prevention Program) cost‐effectiveness analysis. Materials and Methods: We revised the QALY calculations to conform to convention and calculated appropriate ICERs using both original and revised QALYs results. We used several additional health economics tools to present results, showing the consistency of each method and the added value of each. We presented net monetary benefits, assessed decision uncertainty and calculated net losses. We also used graphics, making correct interpretation clearer and allowing illustration and calculation of technical and economic inefficiencies of treatments that were not cost‐effective. Results: ICERs with either QALY calculation indicated that metformin was technically and economically inefficient and not cost‐effective. There was virtually no decision uncertainty. All methods employed pointed to an identical conclusion. Conclusions: In contrast to original claims, although lifestyle was cost‐effective in diabetes prevention, metformin was not, and acting otherwise imposes significant monetary and health costs. Various available tools of economic evaluation would probably have prevented the original misinterpretation by the authors had they been used. The varied tools implemented here illustrate with a common example their consistency and value to the field, showing how to depict the results in various ways. [ABSTRACT FROM AUTHOR]

In recent years, China's macroeconomic environment is stable, and the prosperity of e-commerce has brought new opportunities for the development of logistics enterprises. As an important part of the industrial chain and supply chain, the logistics industry plays an important role in promoting China's economic development, but also faces various opportunities and challenges. Based on the demand data of express logistics in Beijing from 2003 to 2022, this paper uses multiple linear regression model to analyze the impact of six factors on the demand of express logistics in Beijing: gross domestic product (GDP), per capita disposable income, permanent resident population, total import and export value of goods, total retail sales of social goods and total value of tertiary industry. Using EViews software to conduct regression and test, it is determined that the permanent population and the total value of the tertiary industry in Beijing are the main influencing factors. The GM (1,1) model is used to predict the dependent variable data in the next five years, and the independent variable data is predicted by combining multiple linear regression, and then the future data of the dependent variable is obtained. The comparison shows that GM (1,1) model is more stable and accurate for single prediction of dependent variable. The forecast results show that the demand for express logistics in Beijing will continue to increase with the economic development of Beijing, the popularity of e-commerce, the permanent population of Beijing and the improvement of traffic and other factors. This study provides scientific basis and reference for relevant government departments and enterprises, which can help them better optimize resource allocation and improve service quality, so as to promote the healthy development of the express logistics industry in Beijing. [ABSTRACT FROM AUTHOR]

In recent years, research has increasingly focused on the economic value of freshwater ecosystems, which provide essential services such as water supply, climate regulation, and recreation, but are highly vulnerable to human-induced degradation. To examine this body of work, a meta-analysis was conducted on 116 studies regarding the economic value of ecosystem services provided by freshwater ecosystems, which collectively reported 368 valuations. The results indicate that 50.2% of the variation in existing value estimates can be explained by an econometric model that controls for (a) the geographical and socio-economic characteristics of the study site, (b) the valuation method and beneficiary type, and (c) the physical and ecological attributes of the specific biome and ecosystem service. The work illustrates the effect of different freshwater ecosystems on economic valuation estimates, also showing the impact of site and socio-economic characteristics of the study. Furthermore, the study assesses the prospects for using the meta-analytic value function derived from the model, finding an average transfer error of 14.4%. This study effectively summarizes the existing literature on the economic value of freshwater ecosystems, allows for the establishment of stylized facts and provides the foundation for the development of tools to support environmental policy decisions. [ABSTRACT FROM AUTHOR]

I consider a technology holder that has to decide whether to file for a patent or rely on secrecy, and a competing firm that can enter the market through technology transfer or imitation. Acknowledging that imitation is uncertain, imperfect, and takes time to materialise, as well as that intellectual property protection is not absolute, I find that technology transfer will always occur if the technological efficiency to imitate is sufficiently low. This will happen regardless of the protection choice of the inventor. Conversely, highly efficient imitation technologies will lead to imitation instead of licensing. I also consider that a trade secret might accidentally leak and thus lose its economic value, thereby rendering secrecy less preferable to patenting. Additionally, the risk of leakage might also lead to more imitation than licensing. Finally, considering that, in practice, the probability of leakage might increase with the number of firms practising a secret, I suggest an increase in the attractiveness of the patent system. [ABSTRACT FROM AUTHOR]

This study explores how digital platforms generate economic and non‐economic value for a specific group of users: mumpreneurs. We collected qualitative data from 26 mumpreneurs in the United Kingdom who have caring responsibilities for young children and are running a business on the community‐based platform Instagram. We found that through using Instagram and its algorithms, mumpreneurs can create various types of value in this context. Drawing on previous research into value creation, we make several contributions to the information systems literature. First, we unpack and explain alternative forms of value generated by digital platforms. Our findings show that through community‐based platforms such as Instagram, mumpreneurs can create various types of economic and non‐economic value—engagement, cognitive, economic, and self‐preservation value—that is consistent with their business, social, and personal needs. Second, we propose a process model of value creation; and we identify two mechanisms that lead to value creation through Instagram's algorithms: recommended connectivity and adaptability. Third, we identify a temporal dimension of value creation through Instagram. This article contributes to the theory in the growing body of literature on value creation linked to digital platforms and explains several implications for theory and practice. [ABSTRACT FROM AUTHOR]

This study mainly aims to analyse whether innovation related to the circular economy's principles, defined as 'circular innovation', is closely linked to environmental disclosure and contributes to the generation of improvements in environmental performance. The article also aims to test whether waste patents, as a specific indicator of circular innovation, are more valuable assets that need specific strategic management due to their level of novelty, complexity, and radicalness being higher than other green or conventional innovations. The empirical analysis uses a rich firm‐level dataset of worldwide companies for the 2011–2015 period, with 1330 observations to show that environmental disclosure and environmental performance are positively associated with circular innovation. This innovation is in fact, more intensive in patent claims and patent citation generation, indicating a higher economic value for companies. The article contributes to this new line of inquiry on defining circular innovation, as well as providing some environmental determinants and consequences from the stakeholders' perspective in relation to circular business models. [ABSTRACT FROM AUTHOR]

This article analyzes characteristics of takeover targets in the European market—relatively less studied compared with US and UK markets—to develop a takeover prediction model. Our sample includes 320 European companies with 140 targets and 180 non‐targets over the period 1994–2007, covering two M&A waves. In this study, we test the discriminating power of many relevant variables including new one that could have a discriminating power in potentially determining (value creation). Our results show that European targets are characterized by a growth‐resource imbalance, are less rich in FCF, have growth opportunities, have a higher level of transaction volume of shares prior to the bid, achieve lower economic performance, and destroy value. Furthermore, we develop several predictive models using targets' financial data from 1 year, 2 years, and 3 years before takeover, along with the 3‐year average. The correct classification power in the original sample is 70% (in‐sample). As for predictive ability, the correct classification power in a control sample is 79.4% (out‐of‐sample). We also noted that predictive models using data from 1 or 2 years before the bid appear to display more significant predictive ability. [ABSTRACT FROM AUTHOR]

The US Inflation Reduction Act (IRA) prohibits the Centers for Medicare and Medicaid Services (CMS) from using standard quality-adjusted life-years or other value assessment methods that discriminate against the aged, terminally ill, or disabled when setting maximum fair prices for prescription drugs. This policy has reignited interest in methods for assessing value without discrimination. Equal value of life-years gained (EVL), healthy years in total (HYT), and Generalized Risk-Adjusted Cost-Effectiveness (GRACE) have emerged as proposals. Neither EVL nor HYT rests on well-articulated microeconomic foundations. We show that they produce decisions that are inconsistent over time in a variety of ways, including: (1) failure to support additivity and indirect comparison in cases where the standard-of-care therapy changes over time; (2) strictly negative value of survival gains that accrue from a new, better standard-of-care, particularly for the disabled themselves; (3) unbounded average value of survival gains; and (4) non-convex survival preferences. We propose an alternative method that relies on GRACE and its microeconomic foundations. [ABSTRACT FROM AUTHOR]

Copyright of Baghdad Science Journal is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

As population growth, economic development, and climate change increase the risks of inland flooding across the US and worldwide, a range of flood mitigation approaches must be considered and evaluated, including flood forecast and early warning systems (FFEWS). Cost–benefit analysis (CBA) has long been used to scrutinize flood mitigation investments, and although most applications have addressed physical infrastructure projects, a growing body of research has focused on assessing the benefits of information-based approaches such as FFEWS. This review summarizes research to date on the economic benefits of FFEWS, using value-of-information (VOI) analysis as a conceptual and organizing framework. This framework emphasizes the role of FFEWS in improving protective action decisions and flood-related outcomes. I also use the framework to categorize the methods used to assess FFEWS benefits, distinguishing between methods that focus specifically on prevented flood damage and those that take a more holistic VOI-based approach. Through a systematic search and screening of the literature, I identified 66 articles and reports published from 1970 to 2023 in more than 15 countries. Overall, I found that relatively few of the studies (15) applied a VOI-based approach, and most of them estimated VOI in relative rather than absolute (i.e., monetary) terms. In contrast, almost half of the studies used expert assessments or surveys of household or businesses to quantify the effectiveness of warnings for prompting protective actions and for reducing damages. Even so, evidence from these studies regarding the economic value of avoided flood damages is limited and is particularly lacking for the US. These findings highlight the continuing need for empirical research to inform VOI analyses of FFEWS and to isolate the effect of FFEWS on incurred flood damages and on protective action costs. [ABSTRACT FROM AUTHOR]

The issue of data quality has emerged as a critical concern, as low-quality data can impede data sharing, diminish intrinsic value, and result in economic losses. Current research on data quality assessment primarily focuses on four dimensions: intrinsic, contextual, presentational, and accessibility quality, with intrinsic and presentational quality mainly centered on data content, and contextual quality reflecting data usage scenarios. However, existing approaches lack consideration for the behavior of data within specific application scenarios, which encompasses the degree of participation and support of data within a given scenario, offering valuable insights for optimizing resource deployment and business processes. In response, this paper proposes a data contribution assessment method based on maximal sequential patterns of behavior paradigms (DecentralDC). DecentralDC is composed of three steps: (1) mining the maximal sequential patterns of sharing and exchange behavior paradigms; (2) determining the weights of these paradigms; (3) calculating the contribution of sharing and exchange databases combined with data volume. To validate our approach, two sharing and exchange scenarios of different scales are established. The experimental results in two scenarios validate the effectiveness of our method and demonstrate a significant reduction in cumulative regret and regret rate in data pricing due to the introduction of data contribution. Specifically, compared to the most competitive baseline, the improvements of mean average precision in two scenarios are 6% and 8%. The code and simulation scenarios have been open-sourced and are available at https://github.com/seukgcode/DecentralDC. [ABSTRACT FROM AUTHOR]

Background: This study will evaluate the Basic Income for Care Leavers in Wales pilot (BIP), which is the most generous basic income scheme in the world. A cohort of care-experienced young people who become aged 18 during a 12-month enrolment period (July 2022-June 2023) are receiving £1,600 (before tax) per month for two years, and the Welsh Government intends this to have a range of benefits. This evaluation will examine the impact of BIP, the implementation of the pilot and how it is experienced, and its value for money. Methods: The study is a theory-based quasi-experimental evaluation, and the design and methods are informed by ongoing co-production with care-experienced young people. We will estimate the impact of BIP on participants using self-reported survey data and routinely collected administrative data. This will include outcomes across a range of domains, including psychological wellbeing, physical and mental health, financial impact, education, training and volunteering. Comparisons between temporal (Welsh) and geographical (English, using administrative data) controls will be done using coarsened exact matching and difference in differences analysis. The process evaluation will examine how BIP is implemented and experienced, primarily through monitoring data (quantitative) and interview, observational, and focus group data (qualitative). The economic evaluation will take a public sector and a societal perspective to identify, measure and value the costs and outcomes of BIP, and to synthesise the evidence to inform a social cost-benefit analysis at 24 months post-intervention. Discussion: BIP is unusual in that it targets a wide range of outcomes and is available to an entire national cohort of participants. The evaluation also has several practical constraints. Therefore, the study will use a range of methods and triangulate between different analyses to assess how successful it is. Findings will inform policy in relation to care leavers, social security and basic income studies worldwide. [ABSTRACT FROM AUTHOR]

Background: While previous studies have examined various platforms that enable providers to connect, Virtual Hallway (VH) stands out with its unique features. The value add is that this online platform connects primary care providers and specialists for synchronous phone-based conversations and aims to reduce referrals and enhance the quality of referrals. VH allows providers to easily log in, select the required specialty, book call times, receive reminders, and have calls documented, ensuring a high connection rate. In May 2022, the provincial health authority in Nova Scotia, a Canadian province, and VH initiated a feasibility study facilitated through the Health Innovation Hub in Nova Scotia. The goal was to enable primary care providers to connect with specialists, thereby reducing wait times and unnecessary referrals, and facilitating timely access to relevant clinical direction for patients. The current evaluation assessed utilization, value for money in economic analysis, and consultation experiences. Methods: The study used post, cross-sectional, and cost-benefit study designs. We collected data through various methods, including administratively recorded utilization, theory-driven surveys, and cost data. Utilization was measured by the number of completed consults and the number of healthcare professionals using the VH platform. We analyzed the data using a combination of descriptive statistics and a cost-benefit analysis, which also involved conducting probabilistic sensitivity analysis. Results: The study found that approximately 84% of the VH consultations avoided needing in-person specialist referrals. The return on investment was 1.8 (95% CI: 0.8 to 3.0), indicating that the monetary value of the measurable benefits associated with VH exceeded the value of the resources invested. The provider experience survey revealed high satisfaction levels with VH across user groups, with 92% of specialists and 96% of primary care providers reporting being satisfied or highly satisfied with their experience. These positive indicators of provider experience were further supported by the fact that 97% of respondents agreed or strongly agreed that they intended to continue to use VH in their practice, and 97% of respondents agreed or strongly agreed that they would recommend VH to a colleague. Conclusions: The study suggests that VH was well-received by users, with high levels of satisfaction reported and a reduced need for in-person referrals. It also represented value for money. Further research could explore how the availability of virtual health services can lead to reduced utilization of healthcare resources among different groups of patients. [ABSTRACT FROM AUTHOR]

Rationing aquaculture farming feed is challenging for producers due to high feed costs, representing 30%–60% of the total operating costs. Therefore, optimal timing of feeding could lead to improved economic returns from an aquatic system. An optimal dynamic feeding model has been determined considering the von Bertalanffy growth model. A bioeconomic model of tilapia production in Mexico for specific markets was used for numerical illustration. The von Bertalanffy growth model was parameterized with experimental data from tilapia (Oreochromis niloticus) fed four ration sizes (50%, 80%, 100%, and satiety), in order to determine different optimal rationing for different fish sizes (200, 300, and 400 g), market prices (Monterrey, Cancún, Mexico City, and On site), and optimal harvesting times (OHT), considering the time value of money. The results of the modeled optimal feeding trajectories show a continuous decrease from stocking to reach a minimum value and then slightly approaching the harvest size. This result contrasts with the recommendations of the feed suppliers and with those found when a potential growth model was used. The results in the case study showed that the Monterrey market presented the highest present value of the benefits in the OHT and the different market sizes. The implications of the Bertalanffy model for optimal rationing trajectories are presented in the discussion. [ABSTRACT FROM AUTHOR]

In Seeing Others, sociologist Michéle Lamont argues that the way to heal our divided world is to see and recognize everyone's collective humanity. To make this argument, she utilizes insights from her past research and incorporates new data from 180 interviews conducted with Hollywood creatives, activists, and young people from around the United States since 2019. Lamont's main finding is that recognizing everyone's worth and dignity are vital to dissolve social, political, economic, and cultural boundaries between groups. For this to occur, narratives must be transformed so that everyone, especially those in marginalized groups, are truly seen. While the book provides valuable strategies to achieve this goal, I briefly discuss three challenges that make it difficult to transform narratives in our complex social world: (1) prevalence of misinformation; (2) engaging those who are out of touch with reality; and (3) navigating federal and state-level policy divides. [ABSTRACT FROM AUTHOR]

The article focuses on voluntariness as a mode of restructuring work in 21st century digitalized capitalism. What can be observed is a blurring of the boundaries between work, reproduction, leisure and engagement. We pursue the thesis that this transformation in the ‘nature’ of work corresponds to a (newly emerging) ‘mixed-activity economy’ in which people, on the one hand, create economic value in the sphere of consumption or leisure. On the other hand, reproductive requirements and economic necessities in everyday work and life can be flexibly linked through time-flexible platform work. In any case, the forms of corporate value creation and access to human productivity are changing radically insofar as they are no longer limited to classic wage labor alone. The invocation of voluntarism plays a key legitimizing role in this transformation. Based on a theoretical reconstruction of the concept of voluntariness, we bring together new forms of value creation through appropriation of resources outside of wage labor and the systematic analysis of voluntariness as a currently significant mode of action and governance in the digital economy. [ABSTRACT FROM AUTHOR]

Walnut oils are of important academic and economic value, and are becoming one of the most important woody oils. Accurate and moderate refining techniques are required to produce high‐quality walnut oils. In this work, walnut oils obtained from cold processing were refined in three typical techniques, mainly chemical refining, water degumming, and molecular distillation. Physicochemical properties (acid value and peroxide value [POV]), minor components (tocopherol, polyphenols, and phytosterol), oxidative stability indices, and volatile compounds were analyzed to find out the appropriate refining method for the cold‐pressed walnut oils. Quality indices of all the refined oils from the three different refining methods met the requirements of the national standard, of which the POV of chemically refined oil (0.241 g/100 g) was higher than crude oil (0.058 g/100 g). Water degumming was most suitable for retaining of bioactive compounds, for example, the tocopherol was 259.40 mg/kg, the polyphenols was 44.54 mg GAE/kg, and the phytosterol was 987.32 mg/kg, but oxidation stability of the obtained oil (3.09 h) was lower than that of molecular distilled oil (4.18 h). Initial physicochemical properties especially the POV had a significant impact on oxidation stability. There is a trade‐off between the retention of nutrients and extending shelf life, indicating appropriate refining techniques should be developed; that is, water degumming is suggested to be involved in producing high‐quality cold‐pressed walnut oils. [ABSTRACT FROM AUTHOR]

Background: The cost of implementation is typically not accounted for in published economic evaluations, which determine the relative value for money of health innovations and are important for allocating scarce resources. Despite key papers outlining relevant implementation costs, they continue to be under reported in the literature and often not considered in practice. This study sought to understand and outline current practices for capturing the costs associated with implementation efforts, with examples from the digital health setting. Methods: A qualitative study of semi-structured interviews with purposefully sampled experts in implementation science, health economics and/or digital health was conducted. The interview guide was informed by a literature review and was pilot tested. Interviews were digitally recorded and transcribed. A hybrid inductive/deductive framework analysis was conducted using thematic analysis to elicit key concepts related to the research question. Results: Interviews were conducted with sixteen participants with specialist expertise in implementation science (n = 8), health economics (n = 6), and/or digital health (n = 8). Five participants were experienced in more than one field. Four key themes were elicited from the data: difficulty identifying and collecting implementation cost data; variation in approaches for collecting implementation cost data; the value of implementation costs; and collaboration enables implementation costing. Broadly, while interviewees recognised implementation costs as important, only some costs were considered in practice likely due to the perceived ill-defined boundaries and inconsistencies in terminology. A variety of methods were used to collect and estimate implementation costs; the most frequent approach was staff time tracking. Multidisciplinary collaboration facilitated this process, but the burden of collecting the necessary data was also highlighted. Conclusions: In current practice, standardised methods are not commonly used for data collection or estimation of implementation costs. Improved data collection through standardised practices may support greater transparency and confidence in implementation cost estimates. Although participants had industry exposure, most were also academic researchers and findings may not be representative of non-academic industry settings. [ABSTRACT FROM AUTHOR]

This article is an introduction to the themed section titled, “Viviana A. Zelizer: Sociologist of the Family and Intimacy.” It first reviews the major works of Viviana Zelizer and their significance for the social studies of families and intimacy, underscoring how she has accounted for the interplay between family and economy through a series of objects: life insurance, the assessment of children's value, the social meaning of money, and, more recently, intimacy. The second part of the article describes extensions of Zelizer's work in the fields of family and intimacy studies and presents the four articles featured in the themed section. [ABSTRACT FROM AUTHOR]

Spinal muscular atrophy (SMA) is a rare inherited autosomal recessive progressive disease of a varying phenotype, with varying clinical symptoms, and as a result the patients suffering from it require multiple types of care. It was deemed useful to conduct a systematic literature review on the pharmacoeconomic evaluations of all currently registered disease‐modifying therapies in order to inform policy and highlight research gaps. Pharmacoeconomic analyses written in English and published after 2016 were considered for inclusion. PubMed/Medline, Global Health and Embase were systematically and separately searched between 16 October and 23 October 2023. Hand‐searching was also conducted on PubMed based on reference lists of published literature. After the exclusion criteria were applied, 14 studies were included. BMJ checklist was used for quality assessment and the Consolidated Health Economic Evaluation Reporting Standards (CHEERS) checklist was used to assess the quality of reporting of all included studies. Data extraction was performed manually. Regarding evidence synthesis, data were heterogeneous and are thus presented based on comparison. This study confirms the need for pharmacoeconomic analyses (cost‐effectiveness or cost‐utility) also in cases when the cost of treatment is very high and the incremental cost‐effectiveness ratio values exceed the usual, acceptable values for standard therapy. Specific willingness to pay thresholds for orphan medicines are of the utmost importance, to allow patients with SMA to have access to safe and effective treatments. With such economic evaluations, it is possible to compare the value of medications with the same indication, but it should be emphasized that in the interpretation of data and in making decisions about the use of medicines, the impact of new knowledge should be considered. [ABSTRACT FROM AUTHOR]

Background: Germany was the first country worldwide to offer mobile digital health applications (mHealth apps, "DiGA") on prescription with full cost coverage by statutory health insurances. Especially statutory health insurances criticize the current pricing and payment regulations in Germany due to "free and non-transparent" pricing in the first year and lack of cost use evidence. The study consists of two parts: The first part evaluates interests of digital health application providers and statutory health insurances in Germany to identify overlaps and divergences of interests. The second part includes the development of a comprehensive pricing and payment taxonomy for reimbursable mHealth apps in general. Methods: Both parts of the study used the input from 16 expert interviews with representatives of digital health application providers and statutory health insurances in Germany. In part one the authors conducted a qualitative content analysis and in part two they followed the taxonomy development process according to Nickerson et al. (2013). Results: A value based care model is expected to bring the greatest benefit for patients while statutory health insurances welcome the idea of usage based pricing. The final pricing and payment taxonomy consists of four design and negotiation steps (price finding, payment prerequisites, payment modalities, composition of negotiation board). Conclusions: As healthcare resources are scarce and thus need to be optimally allocated, it is important to implement pricing and payment terms for reimbursable mHealth apps that result in the greatest benefit for patients. To the best of the authors' knowledge, there has been no structured study yet that examines alternative pricing strategies for reimbursable mHealth apps.The developed pricing and payment taxonomy for reimbursable mHealth apps serves as planning and decision basis for developers, health policy makers and payers internationally. [ABSTRACT FROM AUTHOR]

Figs (Ficus carica L.) are widely cultivated throughout the world owing to their excellent medical and edible value. In October 2021, we discovered a new leaf target-spot disease associated with the common fig in China. It is necessary to identify the causal agent, as it seriously affects the normal growth of figs and reduces their economic value. The initially infected leaves displayed light yellow lesions between the leaf veins. Under conditions of suitable temperature and humidity, the lesions expanded rapidly with light brown in the middle and dark brown at the margin accompanied by a yellow halo, and typical target holes appeared in the centre of the lesions. Three filamentous fungi were isolated from infected leaves, among which the isolate WHG-3 exerted the strongest virulence in vitro. Its newly grown mycelia were white and then gradually turned to dark grey. The conidia were hyaline, spindle-shaped or oval, with thin cell walls. Phylogenetic analyses based on the ITS, tef-1 and tub2 gene sequences verified that the isolates WHG-3, WHG-4 and WHG-5 were Neofusicoccum parvum. To the best of our knowledge, this is the first report that N. parvum causes leaf target-spot on Ficus carica L. in China. [ABSTRACT FROM AUTHOR]

Energy Communities (ECs) are aggregations of users that cooperate to achieve economic benefits by sharing energy instead of operating individually in the so-called "disagreement" case. As there is no unique notion of fairness for the cost/profit allocation of ECs, this paper aims to identify an allocation method that allows for an appropriate weighting of both the interests of an EC as a whole and those of all its members. The novelty is in comparing different optimization approaches and cooperative allocation criteria, satisfying different notions of fairness, to assess which one may be best suited for an EC. Thus, a cooperative model is used to optimize the operation of an EC that includes two consumers and two solar PV prosumers. The model is solved by the "Social Welfare" approach to maximizing the total "incremental" economic benefit (i.e., cost saving and/or profit increase) and by the "Nash Bargaining" approach to simultaneously maximize the total and individual incremental economic benefits, with respect to the "disagreement" case. Since the "Social Welfare" approach could lead to an unbalanced benefit distribution, the Shapley value and Nucleolus criteria are applied to re-distribute the total incremental economic benefit, leading to higher annual cost savings for consumers with lower electricity demand. Compared to "Social Welfare" without re-distribution, the Nash Bargaining distributes 39–49% and 9–17% higher annual cost savings to consumers with lower demand and to prosumers promoting the energy sharing within the EC, respectively. However, total annual cost savings drop by a maximum of 5.5%, which is the "Price of Fairness". [ABSTRACT FROM AUTHOR]

Extreme weather events are increasingly recognized as major stress factors for forest ecosystems, causing both immediate and long-term effects. This study focuses on the impacts experienced by the forests of Valdisotto, Valfurva, and Sondalo (28% of the total area is covered by forests) in Upper Valtellina (Italy) due to the Vaia storm that occurred in October 2018. To define the immediate impacts of Vaia, we assess the economic value of forest ecosystem services (ESs), particularly those provided by timber production and carbon sequestration, pre- and post-Vaia and during the emergency period. We used the market price method to assess the economic values of timber production and carbon sequestration, as these are considered to be marketable goods. Based on data processed from Sentinel-2 satellite images (with a spatial resolution of 10 m), our results show that, despite the reduction in forest area (−2.02%) and timber stock (−2.38%), the economic value of the timber production increased after Vaia due to higher timber prices (i.e., from a total of €124.97 million to €130.72 million). However, considering the whole emergency period (2019–2020), the total losses are equal to €5.10 million for Valdisotto, €0.32 million for Valfurva, and €0.43 million for Sondalo. Instead, an economic loss of 2.88% is experienced for carbon sequestration, with Valdisotto being the more affected municipality (−4.48% of the pre-Vaia economic value). In terms of long-term impacts, we discuss the enhanced impacts due to the spread of the bark beetle Ips typopgraphus. [ABSTRACT FROM AUTHOR]

The walnut cracking process is the most critical and delicate step for achieving high‐quality kernels. The traditional method for cracking (manually) is labor‐intensive, time‐consuming, and tedious. The existing cracking approaches are low production efficiency and serious walnut kernel breakage. Increasing cracking efficiency with minimum kernel breakage has been a challenging issue in the preliminary processing of walnuts. Therefore, this study develops an innovative walnut cracker with self‐grading and multi‐station extrusion, combined with theoretical investigation and experiment verification. First, a statistical analysis of walnut physical properties was conducted, including dimensions, shell thickness as well as shape characteristics. The mechanical properties of walnut cracking were examined by a series of experiments. Based on mechanical theory, a grading mechanism was designed for preliminary processing before walnut cracking. Then a shaftless screw conveying mechanism and an extrusion cracking mechanism were developed. To evaluate the cracker's performance, a comprehensive examination was carried out. The experiments yielded impressive results, with a grading rate of 87.3%, a shell‐breaking rate of 91.50%, and a kernel‐exposed rate of 84.72%. These outcomes signify a substantial improvement in production efficiency while minimizing kernel breakage. The developed walnut cracker plays a crucial role in walnut processing and kernel extraction, thereby elevating economic value. Practical Application: A self‐grading multi‐station extrusion walnut cracker is developed, which includes a grading mechanism with a shaftless screw conveyor and a grid‐type trommel screen for conveying and classifying walnuts. This cracker can adapt to different walnut varieties by changing the gap‐adjusting guide to control the breaking gap. Compared to similar extrusion‐type walnut crackers, the developed cracker not only incorporates preliminary classification but also exhibits superior performance. Highlights: A novel multi‐station extrusion mechanism for walnuts cracking is developed.The cracker can accommodate various walnut sizes for self‐grading and screening.The design with semi‐arc plates converts extrusion force into alternating stress.The shell‐breaking rate and kernel‐exposed rate achieves 91.50% and 84.72%. [ABSTRACT FROM AUTHOR]

ABSTRACT The scarcity of evidence on how supervision in the child protection system (CPS) is developed, specifically in residential care, calls for further research on this issue. The aim of this study is to provide new insights on staff perceptions in residential care about supervision's strengths, opportunities, threats and weaknesses, as well as their conceptions about the impact of supervision in this context. A total of 94 professionals (Mage = 28.20, SD = 12.21) participated in this qualitative study. Participants completed an online survey consisting of six open‐ended questions and a sociodemographic questionnaire. Qualitative content analysis was performed using MAXQDA software and descriptive statistics using IBM SPSS. Participants perceived that supervision provided knowledge and interpersonal skills, allowing staff to receive support and guidance. Obtaining an external perspective was highlighted as a significant value of supervision, and the main constraints were related to economic and labour demands. Participants considered that supervision positively impacts mainly staff performance and the quality of intervention, with only residual references to the impacts on children or on the organizational structure. These findings can inform policies and practices aimed at improving supervisory mechanisms and structures. Changes in the recruitment and selection of supervisors, as well as guidelines outlining the roles and functions of supervision in care settings, are required. [ABSTRACT FROM AUTHOR]

Leasing is an important mode of service-oriented manufacturing where a manufacturer may lease machines from multiple suppliers to form a manufacturing system. While the suppliers provide machine maintenance, their individual interests may not be necessarily optimal to the system. Therefore, we propose a maintenance modeling and lease pricing (MMLP) framework to find the optimal maintenance policy for the system, and make a lease pricing scheme as an incentive mechanism to promote the realization of the cooperative maintenance among the suppliers. An optimization model is established to obtain a long-term maintenance policy by minimizing a cost rate function. And then, the grey lease pricing scheme based on the fair allocation of the benefits from the cooperation is suggested, with the marginal contribution of each supplier in the cooperation measured by the grey Shapley value method. Finally, a case study is used to show the application of the MMLP framework, presenting that the joining of the suppliers can make maintenance cost reduced and that the lease prices determined by using the grey Shapley value demonstrate the emergence and risk of the cooperation. [ABSTRACT FROM AUTHOR]