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Smart services' data-intensive nature means their convenience for users comes with privacy concerns. This poses challenges for the supply of smart services. This paper analyses the impact of user-differentiated privacy costs on smart service supply strategies. It also discusses the effects of privacy protections and data utilisation capabilities on the improvement of smart service levels. We find that providers tend to segment the market based on user privacy sensitivity to capture the maximum consumer surplus. Strict privacy protection requirements may cause providers to sacrifice service quality. Privacy protection is conducive to improving the level of smart services only when users fully recognise these services' value. Interestingly, our study finds improvements in service levels by providers are driven by two factors. On the one hand, providers choose to improve their service levels to obtain more data and create more profits. On the other hand, to reduce the opportunity costs of early investments to develop services, providers need to improve their capabilities to utilise the value of data, ultimately leading to improved service levels. This study brings a new perspective to the supply of smart services and offers suggestions for how to resolve the contradiction between smart service use and privacy preservation. [ABSTRACT FROM AUTHOR]

The complexity of decision-making for companies buying transportation services has increased due to the presence of more options and pricing schedules for transportation. Many companies make transportation and inventory decisions in an uncoordinated way and select only one transportation mode, missing opportunities for logistics cost savings. The experimental study in this paper is based on a real-world decision problem faced by a Scandinavian company that distributes fast-moving consumer goods and wants to determine its transportation strategy. We propose a novel multi-mode lot-sizing model with dynamic deterministic demand to illustrate the cost impact of accurately modelling piecewise-linear transportation costs and allowing a more flexible usage of transportation modes when planning order replenishments. We compare three transportation strategies with increasing degrees of flexibility: two single mode strategies, where one strategy is more flexible than the other, and a multi-mode strategy. We conclude that managers can significantly reduce costs by increasing the flexibility of mode selection in transportation strategies. [ABSTRACT FROM AUTHOR]

Paid parental leave has become a part of family policies in an increasing number of Western societies. Parental leave benefits may create varying incentives which can lead to heterogeneous fertility responses. The aim of this study is to examine whether and how the changes in second- and third-order fertility associated with the 2004 parental leave reform in Estonia vary depending on mothers' education and ethnic background. The study draws on data from Estonian administrative registers on women born between 1960 and 1999, who had their first or second child between 1993 and 2014. Mixture cure models are estimated for the transitions to second and third births. We find that women with high educational attainment exhibit a stronger response, both in terms of accelerating the tempo and increasing the quantum of fertility, to the introduction of earnings-related parental leave benefits, than their counterparts with less schooling. In terms of fertility quantum, Estonian women show a stronger response than women from other ethnic groups. Regarding the tempo of childbearing, the results pertaining to ethnic differences are mixed. The study suggests that changes in fertility behavior associated with the introduction of earnings-related parental leave benefits are more pronounced among women with higher opportunity costs. [ABSTRACT FROM AUTHOR]

SYNOPSIS: The purpose of this study is to examine the benefits and costs of an alternative to the traditional time-based budget audit model. We survey auditors who participated in a real-world, firm-designed, non-time-based budget (NTB) model pilot program during which several engagement teams were not provided with a time budget and auditors did not track time. Results suggest auditors appreciated the autonomy the NTB model allows, felt it improved teamwork, reported less concern about performance evaluations, felt empowered to deliver value-added services to the client, and indicated greater work-life balance and job satisfaction. Firm-provided proprietary archival evidence suggests that efficiency did not differ across the two models, as the timing of audit procedure signoffs was not negatively impacted under the NTB model. Overall, our results suggest a NTB model may be a viable option for audit firms looking to decrease their reliance on time-based budgeting. Data Availability: Please contact Erin M. Hawkins. [ABSTRACT FROM AUTHOR]

Generative artificial intelligence (GAI) challenges creative efforts and work that build on expertise. Since GAI has the ability to generate content that can be easily confused with human output, it puts professionals and their organizations at risk. We explore how professional service firms (PSFs) (in law, architecture, and auditing) react to this new technology and what it has entailed for them. We show that GAI has not been perceived as a threat, but these professionals have rather embraced the new technology. However, actual results of GAI initiatives remain to be seen. Also, concerns have been raised that GAI comes with an opportunity cost, as other potentially more suitable and profitable technologies are overlooked. Building on insights from our case study, we highlight several issues that need to be further explored. Ideas for a future research agenda, as well as practical advise for how to put GAI into use, are outlined. [ABSTRACT FROM AUTHOR]

Statistical approaches such as Reference Class Forecasting and Monte Carlo Simulation are widely used to estimate the cost contingency of large-scale transport projects (>$500 million) to mitigate cost overruns during construction. Such approaches may accommodate exposure to risk, but they will fall short in the face of the irreducible uncertainty that confronts project delivery. An underused alternative for formulating a cost contingency is smart heuristics (i.e. simple task-specific decision strategies), which are superior to statistical reasoning under Knightian uncertainty. We set forth an agenda for research on building and using an 'adaptive toolbox' of ecologically rational heuristics that decision-makers can apply to produce more accurate contingency estimates for large-scale transport projects. We identify several methodological considerations to support the adaptation and discovery of new heuristics for decision-makers to navigate judgments under uncertainty during the contingency estimation process. The implications for research, policy, and practice are also identified. The contributions of our paper are twofold as we: (1) provide a platform for challenging the effectiveness of the prevailing convention of using statistical reasoning to estimate a project's cost uncertainty; and (2) identify an avenue for testing existing and discovering new heuristics that can assist decision-making in projects. [ABSTRACT FROM AUTHOR]

The abrupt evolution of Artificial Intelligence (AI) in academia has spurred a complex debate regarding its rejection or integration in academia. This study aims to portray a comparative analysis of the risks associated with the integration of AI and the missed opportunities in the absence of AI in academic settings. Utilizing the economic theory of Opportunity Cost as a theoretical framework, the study investigates whether the potential gains from AI adoption outweigh the losses. The Opportunity Cost is a fundamental principle in economics, which determines the best alternative between two choices in a single context, guiding individuals and organizations to make the best choice. Adopting a qualitative methodology for this systematic review, the research employs content analysis. Using the Boolean formula, the researcher constructed precise search queries to retrieve relevant literature across six databases and applied specific protocols of inclusion and exclusion; from an initial pool of 260 existing literature, 72 relevant studies were selected based on bibliometrics for final synthesis to avoid the fallacy of composition, a wrong decision about AI. The findings indicate that the blessings of generative AI in academia significantly outweigh the risks, leading to the decision to integrate AI in academia. Although the study recorded negative aspects, these are not substantial enough to undermine the overall positive impact of AI, as it holds considerable promise for fostering dynamic academic environments. This research aims to inform and shape user attitudes toward its adoption in academia and provides valuable insights for academic institutions, educators, and policymakers. [ABSTRACT FROM AUTHOR]

Background & aim: Hepatitis B is globally recognized as a major public health problem that imposes a huge economic burden on society. China is a major country with hepatitis B infection; however, an updated overview of the economic burden of hepatitis B and related diseases in China has not been provided. This study aimed to provide a comprehensive understanding of the economic burden and factors influencing hepatitis B and related diseases by synthesizing the available evidence, with the aim of informing clinical treatment and health decisions. Methods: Two researchers systematically searched relevant literature published in PubMed, Web of Science, China Knowledge Network, Wanfang Database, and Vip Database from 2002 to 2022, and conducted title and abstract reviews according to the PRISMA guidelines for the development of nerfing criteria, as well as quality evaluation of the included literature. Results: Thirty-three studies were included in the literature. The quality of the included literature was average, with the majority being individual studies and a few group studies, which showed that the annual economic burden per capita of hepatitis B-related diseases was 92,978.34 RMB, with a high proportion of direct and hidden costs, and a large disparity in economic burden between related diseases, with the greatest burden for primary hepatocellular carcinoma and the smallest burden for acute hepatitis B. The study found that the main factors affecting the cost of disease were sex, age, occupational classification, place of residence, health insurance conditions, hospital class, length of hospitalization, use of antiviral drugs, comorbidities, and complications. Conclusion: Hepatitis B has caused a huge economic burden on Chinese society, and hidden costs also respond to a great psychological burden on patients and their families. Based on existing studies, there is an urgent need for high-quality, multicenter, population-level studies to inform clinical treatment and health policy decisions. [ABSTRACT FROM AUTHOR]

Background: Nosocomial infections (NI) significantly worsen patient outcomes, resulting in higher mortality rates and reduced health-related quality of life. Furthermore, they pose substantial economic strain on healthcare systems and hospitals. For instance, patients with nosocomial infections (NIs) experience prolonged hospital stays compared to those without NIs. These extended stays result in occupied bed-days, leading to opportunity costs for hospitals. This study aimed to estimate the opportunity costs for a German hospital based on hospital stays, daily revenue, and occupancy rates (OCR). Methods: We analysed cost data obtained from routine records maintained by the accounting department of a German hospital's surgical and orthopedic units from 2018 to 2019 for the "HygArzt" research project. To ensure balance, we employed genetic matching. We estimated the differences in length of stay (LOS) and daily revenue between patients with and without nosocomial infections (NI) using linear regression. Finally, we calculated the opportunity cost borne by the hospital by treating NI patients instead of non-NI patients. All costs are reported in 2018 Euros. Results: The final sample included 81 patients with NI matched with 207 patients without NI. The majority of the NI patients (77.0%) had surgical site infection (SSI). Compared to non-NI patients, we observed that NI patients had a longer LOS (10 days, p < 0.001) and lower daily revenue (€400, p < 0.001). We also found that comorbidities and the frequency of operations had significant impact on the LOS. Using a baseline 30 to 50% preventable NIs, successful prevention of a single NI could potentially reduce the length of hospital stay by 3 to 5 days and increase hospital revenue by approximately €120 to €200 per day per prevented NI. Consequently, the hospital saves 3 to 5 more bed-days to backfill and generate more revenue, and/or make more efficient resource allocation by changing bed-capacity and staffing. The resulting opportunity costs can potentially exceed €1,000 per preventable case. Conclusion: NIs pose a substantial economic burden for hospitals. From a health economics' perspective, there are strong economic incentives for hospitals to implement infection control interventions, such as the involvement of a prevention link physician/nurse. [ABSTRACT FROM AUTHOR]

This paper constructs a model for the study of optimal immigration from the perspective of natives. They have preferences over redistributive transfers, a public good subject to congestion, and over the level of family‐based migration. Border enforcement is costly. The model derives conditions for an optimal immigration policy, which balances skill‐based against family‐based migration, equalizes the fiscal opportunity cost of unauthorized immigration with the marginal cost of enforcement, and balances the effects on transfers against the implied congestion effects. A parameterized version of the model studies the 1994–2008 period and finds legislation projects on immigration consistent with the model's predictions. [ABSTRACT FROM AUTHOR]

This study empirically analyzes factors related to companies' profits from trading emission allowances in the European Union Emissions Trading System (EU ETS) for the period from 2005 to 2017 by combining information on trading activities with company characteristics of more than 6,000 companies. The factors considered include net position (i.e., free allocation of allowances minus emissions), strategic skills (i.e., banking of allowances, timing of trading, transaction frequency, use of intermediaries), skill-related structural factors (i.e., number of installations, sector affiliation), market pressure, year, and region effects. The results from estimating a Panel Heckman Selection Model suggest that companies' profits from buying and selling emission allowances are related to a company's net position, banking of allowances, timing of trading, and the number of installations. The findings further indicate that companies choose the number of banked allowances efficiently, that is, they take into account the opportunity costs of selling these allowances on the market. JEL Classification: Q48, Q54, Q58 [ABSTRACT FROM AUTHOR]

This paper studies how the transmission of information from a biased expert to a decision maker is affected when the latter has access to an unbiased symmetric private signal. The extra information has two distinct effects on the expert's incentives to communicate. First, there is an information effect that allows the decision maker to choose a better action on expectation. This reduces the implicit cost of transmitting coarse messages and hence hampers communication. Second, there is a risk effect that arises because the extra information introduces uncertainty to the expert. For risk averse experts, this effect increases the cost of sending coarse messages and hence favours communication. I show that the information effect dominates the risk effect, and for any symmetric signal structure there are always sufficiently biased experts for which communication is no longer possible in equilibrium. Moreover, for any bias of the expert, no communication is possible if the signal structure is sufficiently precise. For the uniform signal structure I show that communication decreases with the precision of the signal. Finally, I provide non degenerate examples for which the decision maker's private information cannot make up for the loss of communication implying that the welfare of both agents decreases. [ABSTRACT FROM AUTHOR]

When making decisions about resource use, social species must integrate not only environmental factors but also the influence of opportunities and costs associated with group living. Bigger groups are expected to move further and to need access to larger areas for adequate food acquisition, but the relationships with group size can vary seasonally and with reproductive stage. Shelters are often more consistent in availability than food, but their use relates to factors such as predator defense and parasite transmission that are themselves influenced by group size and seasonality. Here, we used long-term data to investigate resource use and associated movement in a wild population of dwarf mongooses (Helogale parvula). We found that bigger groups occupied larger home ranges, moved larger daily distances and covered more daily area than smaller ones, while environmental greenness (measured by normalized difference vegetation index [NDVI]) influenced daily movements in the breeding season but not the non-breeding season. Both assessed axes of seasonality also had pronounced effects on shelter use: mongoose groups used more unique sleeping burrows, and switched between burrows more often, in the breeding season, but also switched more when environmental greenness was higher. By investigating specific periods within the breeding season, we revealed the constraints that vulnerable, poorly mobile offspring impose on both group movements and burrow use, highlighting a potentially overlooked cost of reproduction. Our results show how both social and environmental factors can affect key resource-use decisions, demonstrating potential costs and benefits to group living within distinctly seasonal geographic areas. [ABSTRACT FROM AUTHOR]

The banana is very popular globally for its flavour, nutrition, and economic value. However, slow regeneration from suckers, and diseases, there is shortfall of clean planting materials. Though, the in vitro micropropagation is effective for rapid production of planting materials, but due to high cost, the small-scale poor farmers unable to afford. The macropropagation technique offers an alternative and cost effective way to produce planting materials. This study present a simple, efficient and cost efficient macropropagation protocol of banana for formulation of effective potting mix. The experimental design was based on different corm/pseudostem splitting technique and different combinations of potting mix substrata. The overall optimum response in macropropagation techniques was found in PIF (T 3) and Split corm + PIF method (T 5) and Forest soil (P 3) and Saw dust + Sand (P 5). For the study banana cultivar Grand Nain (G9) was taken as a model plant. The regenerated plantlets was assessed for genetic stability using two markers i.e., RAPD and SCoT and found that the regenerates were 97.37–100 % genetically stable. Protocol developed is simple, reproducible, cost effective and sustainable and can be followed by the unskilled farmers. Though, in this study the G9 cultivar was used as model, the technique can be effectively used for other banana cultivars. [Display omitted] • Formulation of organic potting mix for macropropagation of banana using G9 cultivar as model. • Optimized the corms splitting technique for efficient shoot regeneration. • The unskilled farmers can follow the protocol and produced their clonal planting materials for small to medium-scale farming. • Regenerates establishes easily in the cultivation plot. • Genetic stability assessments indicate 97.37–100 % genetically stable regenerated plantlets. [ABSTRACT FROM AUTHOR]

Background: People's time is a finite resource and a valuable input that ought to be considered in economic evaluations taking a broad, societal perspective. Yet, evaluations of interventions focusing on children and young people (CYP) rarely account for the opportunity cost of time in this population. As a key reason for this, health economists have pointed to uncertainty around when it is appropriate to include CYP time-related costs in an economic evaluation and highlighted the lack of clear guidance on the topic. Methods: With this in mind, we carried out a Delphi study to establish a list of relevant considerations for researchers to utilise whilst making decisions about whether and when to include CYP time in their economic evaluations. Delphi panellists were asked to propose and rate a set of possible considerations and provide additional thoughts on their ratings. Ratings were summarised using descriptive statistics, and text comments were interrogated through thematic analysis. Findings: A total of 73 panellists across 16 countries completed both rounds of a two-round Delphi study. Panellists' ratings showed that, when thinking about whether to include displaced CYP time in an economic evaluation, it is very important to consider whether: (1) inclusion would be in line with specified perspective(s) (median score: 9), (2) CYP's time may already be accounted for in other parts of the evaluation (median score: 8), (3) the amount of forgone time is substantial, either in absolute or relative terms (median score: 7) and (4) inclusion of CYP's time costs would be of interest to decision-makers (median score: 7). Respondents thought that considerations such as (1) whether inclusion would be of interest to the research community (median score: 6), (2) whether CYP's time displaced by receiving treatment is 'school' or 'play' time (median score: 5), and (3) whether CYP's are old enough for their time to be considered valuable (median score: 5) are moderately important. A range of views was offered to support beliefs and ratings, many of which were underpinned by compelling normative questions. [ABSTRACT FROM AUTHOR]

This study examines the strategic choices of enterprises regarding exploitative and exploratory innovation, drawing on the ambidextrous innovation theory and using a case analysis of Ningbo Cixing Co., Ltd in China (referred to as 'Cixing' for short). The study constructs an evolutionary game model to analyse these choices from a micro perspective. The results of the study suggest that when the costs and opportunity costs associated with exploitative innovation are lower, the growth rate of innovation benefit is higher, and enterprises are more likely to adopt an exploitative innovation strategy. On the other hand, when the costs associated with exploratory innovation are lower, the success rate of innovation is higher, and enterprises are more likely to adopt an exploratory innovation strategy. The study also reveals that enterprises alternate between exploitative and exploratory innovation modes in response to changes in the external environment. This dynamic evolution shows a regular and complementary pattern of quantitative and qualitative change that promotes innovation growth. [ABSTRACT FROM AUTHOR]

Background: Several organizations have proposed guidelines or clinical decision tools for the management of patients with disorders of gut‐brain interactions (DGBI) affecting the lower digestive tract including irritable bowel syndrome and chronic idiopathic constipation. Such algorithms are based on sequential therapeutic trials and modifying the treatment strategy based on efficacy and adverse events. Purpose: The aims of this review are to evaluate the evidence for efficacy of second‐ and third‐line pharmacotherapies and to assess the evidence for the alternative option to manage subgroups of patients with symptoms suggestive of lower DGBI based on diagnostic tests or documented dysfunctions. The preeminent tests to identify such subgroups that present with symptoms that overlap with lower DGBI are detailed: digital rectal examination as well as anorectal manometry and balloon expulsion for evacuation disorders, detailed measurements of colonic transit, and diagnosis of bile acid diarrhea or carbohydrate malabsorption based on biochemical measurements. The review also addresses the cost implications of screening to exclude alternative diagnoses and the costs of therapy associated with the therapeutic options following an algorithmic approach to treatment from the perspective of society, insurer, or patient. Finally, the costs of the diagnostic tests to identify actionable biomarkers and the evidence of efficacy of individualized therapy based on formal diagnosis or documentation of abnormal functions are detailed in the review. [ABSTRACT FROM AUTHOR]

The Sokoto Caliphate of northern Nigeria was the workshop of West Africa in the pre‐colonial nineteenth century, producing famous blue‐black cloth that reached many markets south of the Sahara as well as across it. Under British colonial rule this large handicraft textile industry was faced with the winds of foreign competition. We rely on a newly digitized set of colonial district reports to measure the impact of trade on northern Nigerian textile manufacturing and find that (contrary to British expectations) areas closer to railway stations were less likely to experience industrial decline. We argue that the resilience of local textiles relied on the low opportunity cost of dry‐season labour. Analysing a piece of tax microdata, we show that a low opportunity cost of labour outside of the rainy season was associated with a higher likelihood of engaging in textile by‐employment. Seasonal changes in relative factor prices were a trap as well as a refuge. Part‐time employment limited specialization and technological innovation, and can help to explain why northern Nigerian textiles eventually declined. Thus, beyond our particular case study, these results contribute to our understanding of the role of seasonality in determining the structure and pace of development of tropical economies. [ABSTRACT FROM AUTHOR]

This paper develops a method to estimate workers' outside employment opportunities. We outline a matching model with two-sided heterogeneity, from which we derive a sufficient statistic, the "outside options index" (OOI), for the effect of outside options on earnings, holding worker productivity constant. The OOI uses the cross-sectional concentration of similar workers across job types to quantify workers' outside options as a function of workers' commuting costs, preferences, and skills. Using German micro-data, we find that differences in options explain 20% of the gender earnings gap, and that gender gaps in options are mostly due to differences in the implicit costs of commuting and moving. [ABSTRACT FROM AUTHOR]

Purpose: Meeting the demands of a growing and increasingly affluent population necessitates a deeper understanding of the environmental and economic implications of production. This implication is most relevant in key production sectors including agriculture and livestock. This article is intended to provide an understanding of the influence of methods of assessing land-use change (LUC) with respect to minimizing both the global warming potential (GWP) and the monetary costs of pig feed formulation. Methods: Feed mixtures intended for slaughter pigs were generated for minimal cost and GWP impacts by applying four differing LUC assessment methods. The objective function was the Danish slaughter pig feed unit, minimized for cost in Danish crowns (DKK), with GWP impacts constrained in multiple steps. Attributional LCA methodology was applied using the Agri-footprint 6.3 database, with GWP impacts calculated excluding land use changes, including direct land-use changes and including the carbon opportunity cost. Analyses of the functional relationship between the optimal cost and the GWP impact were conducted, followed by a comparative LCA of the cost of comparable feed mixture by applying two sets of functional units: 100 slaughter pig feed units and 1 kg of pig live weight. Results and discussion: A similar relationship between cost and GWP impact was observed across all methods, although variability of GWP impact magnitude depending on method was observed. Reducing at an equivalent cost, GWP reduction ranged from 5.6 to 27% based on the pig feed functional unit, and 2.4 to 13% based on the pig live weight functional unit. Optimizing feed mixtures for GWP impacts resulted in significantly increased contributions to other impact categories, including a 56% increase in terrestrial ecotoxicity. Despite the increased contributions to other impact categories, all optimized feed mixtures achieved a reduction in endpoint indicators and single score. Endpoint reductions to the feed unit were 2.3–25% for ecosystem damage, 7.4–15% for human health, and 6.0–16% based on a single score value. Conclusions: The findings emphasize the key importance of addressing LUC when optimizing the GWP of agri-food production. Suggestions are provided for areas of improvement in future optimization studies applying a dietary unit as the objective function, including additional midpoint impact categories and/or extended optimization covering whole areas of protection. The findings suggest that GWP impacts may be reduced at no additional cost if included or embedded in the pig feed formulation procedure. [ABSTRACT FROM AUTHOR]

Electrohydraulic forming (EHF) which demonstrates reduced bouncing effect, formation in narrow areas, and no effect on the electrical conductivity of the blank can overcome the shortcomings of deep drawing and electromagnetic forming. However, considerable time is involved in evaluating the possibility of forming a specific part through experiments. Developing an accurate finite element model can reduce the opportunity costs of an experiment by reducing unnecessary trial and error in forming a specific part. In this study, the chamber, die, and blank components of the EHF experimental equipment in our laboratory were reverse-modeled using CATIA V5R18. Subsequently, the IGES format of the components was imported into LS-DYNA R12, and an FEM model to simulate the EHF experiment was constructed. The experimental and simulation results of nine cases, based on the SUS430 material, input voltage, and blank thickness, were compared for model verification. The forming results for all cases in the constructed finite element analysis model nearly matched the experimental results. Moreover, the linear increase in the blank thickness with input voltage and thickness was simultaneously confirmed. In a computing environment using a 4.3 GHz, 24-Core CPU and 64 GB memory, the time required for one finite element analysis was approximately 1 h. [ABSTRACT FROM AUTHOR]

The watershed ecological compensation mechanism is an effective policy instrument for promoting the protection of the watershed ecological environment and the development of the regional economy in river basin areas. However, the related compensation for quality control investment and liability for water quality damage should be determined carefully. In the present study, based on data envelopment analysis, we firstly established a compensation allocation model with fairness, considering both efficiency and the scale of river basin areas. Secondly, incorporating the opportunity cost method, we establish a total liability model and liability-sharing model to ensure consistency between compensation and liability. We study the Xin'an River basin in Anhui province as an empirical example, showing that She County deserved the highest compensation in both 2018 and 2019, and Xiuning County received the lowest compensation in 2018. Only Jixi County should bear liability in 2018, but in 2019, Tunxi District bears the highest liability and Xiuning County the lowest liability. The compensation allocation and liability sharing results align with the equality principle, and the allocation model is feasible. This paper provides suggestions for compensation allocation and liability sharing for provinces in the watershed ecological compensation mechanism. [ABSTRACT FROM AUTHOR]

Rationale Aims and Objectives Methods Results Conclusion Loss to follow‐up of participants can compromise the statistical validity of randomised trials. Moreover, it can have financial consequences for trial teams and funders. This study explores the Occupational Therapist Intervention Study (OTIS) where, despite a withdrawal rate of less than 10%, the trial team incurred opportunity costs related to participants who were initially recruited but subsequently decided to withdraw from the trial.To estimate the cost of participant losses to follow‐up in the OTIS trial and thus introduce a costing framework to research teams on how they could estimate the opportunity costs of participant withdrawal from their randomised trials.The participants lost to follow‐up are differentiated by (1) the time point at which they were lost to follow‐up; (2) the treatment group they were allocated to; (3) their response patters to follow‐up questionnaires; these elements were considered to identify the relevant types of attrition. Protocol‐driven costs of trial materials, including administration, print, and shipping, were gathered. We calculated unit costs for each type of attrition by multiplying protocol‐driven and intervention costs with the relevant number of participants. Summing up unit costs by type of loss to follow‐up yields aggregate figures, enabling the estimation of aggregate and average opportunity costs of attrition.The average cost per participant loss to follow‐up in the OTIS trial is £98.41. The aggregate cost of participant loss to follow‐up is £10,234.90 from the economic perspective of the trial team. Therefore, 1.42% of the allocated funding has been misallocated because of participant loss to follow‐up.Despite the low attrition rate of the OTIS trial, loss to follow‐up has still generated considerable opportunity costs. It is recommended that decision makers focus on identifying strategies which could improve participant retention in randomised trials to optimise their budget. [ABSTRACT FROM AUTHOR]

When foraging for food, animals must balance levels of exploitation and exploration. Too much exploitation leads to an exhaustion of the source and means one will never know if there are better sources of food elsewhere. Too much exploration and one will never reap the benefits from a source. Recently, substantial evidence has implicated this tradeoff in human sequential decision-making, such as when choosing which restaurant to dine at. Computational models of optimal foraging have been used to describe both foraging and sequential decision-making, suggesting a common substrate. Importantly, these models factor in the opportunity cost of (travel) time by assuming perfect temporal cognition. Here, we apply a recently proposed intertemporal choice model that mixes rate distortion theory and hyperbolic discounting to estimate people's expected opportunity cost of time. Assuming that the adaptive control of temporal cognition is crucial for balancing exploration and exploitation, we hypothesized that model parameters would be able to predict childhood adversity, as the type of environment one was raised in has been shown to explain differences in explore-exploit behavior. [ABSTRACT FROM AUTHOR]

Theories of CSR value under a real-option framework suggest that the payment of dividends serves as an opportunity cost. One of the resulting predictions is that the value of CSR spending is lower for dividend paying firms. We examine this prediction empirically. While we find that CSR is positively related to firm value for both dividend payers and non-payers, CSR is roughly 50% less valuable to dividend payers than non-dividend payers. [ABSTRACT FROM AUTHOR]

School feeding programs can support children's nutrition, health, and education in emergencies. This study assessed the feasibility, trade‐offs, cost efficiency, and perceived benefits of school feeding modalities operating in urban Yemen. It draws on primary data from a qualitative evaluation with 21 school feeding implementers and 88 beneficiaries conducted in Feb–Mar 2023, and secondary data from a desk review of published and program literature on school feeding operations. Results showed that school feeding provided students with on average 18%, 40%, and 66% of daily energy, protein, and micronutrient requirements, respectively. Models including fortified snacks were 3–11 times more cost‐efficient in terms of nutrient delivery. The most prominent strength of the models examined were the perceived benefits on child, family, and financial outcomes. Among the main weaknesses was the poor nutritional quality of the meal, which in turn emerged as a primary opportunity to improve school feeding through hybrid models providing a combination of fortified snacks and healthy meals. Other weaknesses such as poor water, sanitation, and hygiene infrastructure, and desired improvements such as the school kitchen and canteen, require considerable investments. Hybrid models are cost‐efficient, acceptable, and feasible in Yemen and can serve the diet and nutrition needs of school‐aged children. [ABSTRACT FROM AUTHOR]

The essence of credit guarantee financing (CGF) is the risk sharing between the guarantor and financial institution. Inspired by the case of the CGF of Evergrowing Bank, this study aims to explore the risk compensation strategies and guarantee decisions for guarantors under CGF and provide decision support for the efficient operation of the supply chain CGF. Considering three kinds of risk compensation contracts, namely cost-sharing, revenue-sharing, and quantity-flexibility, the Stackelberg game method is used to construct the supplier CGF model under the retailer's financial constraints. The results show that additional contract parameters, interest rate, debtor's initial capital, and implicit bankruptcy cost are the main factors affecting the credit guarantee coefficient decision. Besides, we find optimal additional contract parameters that can optimize the profits of supply chain members and complete the contract parameter design. The quantity-flexibility contract is the most effective strategy for the supplier to compensate for guarantee risk. However, the retailer's choice of additional contract depends on the initial capital or implicit bankruptcy cost. The main innovation of this study is that it endogenizes the credit guarantee decision and explores the details of the risk compensation contract. Further, the impact of implicit bankruptcy cost on CGF decision is also mentioned for the first time in supply chain finance. Our findings lead to recommendations for the optimal credit guarantee scheme and contract design of compensation for guarantee risk in the supply chain. [ABSTRACT FROM AUTHOR]

This paper addresses the scheduling problem of a mixed fleet passing through a river bottleneck in multiple ways, considering the impact of streamflow velocity, the fuel cost with different sailing speeds, and the potential opportunity cost of various types and sizes of vessels. From the perspective of centralized management by river bottleneck authorities, a unified scheduling approach is proposed, and a nonlinear model is constructed, where the total fuel cost and potential opportunity cost of the fleet are minimized. To handle the nonlinear terms in the model, an outer approximation technique is applied to linearize the model while ensuring the approximation error remains controlled. The optimal value range of the nonlinear variables is also proven to ensure solution speed. Furthermore, the applicability and effectiveness of the model and solution method are validated through a real-world case study on the Yangtze River. The results show the following: (1) Unified collaborative scheduling by bottleneck authorities can ensure the optimal total cost of the fleet is effectively met and that the vessels passing through the river bottleneck are arranged under rational ways. (2) When fuel consumption is the same as that of traditional oil-fuelled vessels, giving priority to liquefied natural gas (LNG)-fuelled vessels to pass through the river bottleneck can reduce the potential opportunity cost and the total cost of the fleet reasonably. (3) In accordance with changes in the fuel price, streamflow velocity, and proportion of LNG-fuelled vessels, timely adjusting the opportunity cost expectations, vessel arrival time, and service times of bottleneck passing ways is crucial for shipowners and authorities to reduce fleet waiting times at the bottleneck, delay time, and the total cost. [ABSTRACT FROM AUTHOR]

Early‐stage cost evaluation during catalyst development holds the potential to accelerate the commercialization and deployment of advanced catalytic materials for sustainable chemical processes. The modeling and assessment of manufacturing costs as early as the laboratory synthesis scale, for example, focusing on materials costs and synthesis performance metrics, can support the development of an experimental–economic feedback loop that enables rapid insight into cost drivers associated with catalyst synthesis and highlights areas that require focused research and development effort. Ultimately, this feedback loop supports the realization of an economic understanding of the overall synthetic process and highlights opportunities to reduce costs, serving as the foundation for the scale‐up of catalyst manufacturing. Herein, a case study is presented utilizing CatCost, a free and publicly available estimation tool for the evaluation of catalyst manufacturing costs, to perform a cost‐responsive optimization of the synthesis of nickel nanoparticles (Ni NPs). It is demonstrated that reagent substitutions with more cost‐effective analogs, coupled with stoichiometric optimization, afford a 58% reduction in raw materials cost without changing the product yield or properties. [ABSTRACT FROM AUTHOR]

Abstract Background Nosocomial infections (NI) significantly worsen patient outcomes, resulting in higher mortality rates and reduced health-related quality of life. Furthermore, they pose substantial economic strain on healthcare systems and hospitals. For instance, patients with nosocomial infections (NIs) experience prolonged hospital stays compared to those without NIs. These extended stays result in occupied bed-days, leading to opportunity costs for hospitals. This study aimed to estimate the opportunity costs for a German hospital based on hospital stays, daily revenue, and occupancy rates (OCR). Methods We analysed cost data obtained from routine records maintained by the accounting department of a German hospital's surgical and orthopedic units from 2018 to 2019 for the “HygArzt” research project. To ensure balance, we employed genetic matching. We estimated the differences in length of stay (LOS) and daily revenue between patients with and without nosocomial infections (NI) using linear regression. Finally, we calculated the opportunity cost borne by the hospital by treating NI patients instead of non-NI patients. All costs are reported in 2018 Euros. Results The final sample included 81 patients with NI matched with 207 patients without NI. The majority of the NI patients (77.0%) had surgical site infection (SSI). Compared to non-NI patients, we observed that NI patients had a longer LOS (10 days, p < 0.001) and lower daily revenue (€400, p < 0.001). We also found that comorbidities and the frequency of operations had significant impact on the LOS. Using a baseline 30 to 50% preventable NIs, successful prevention of a single NI could potentially reduce the length of hospital stay by 3 to 5 days and increase hospital revenue by approximately €120 to €200 per day per prevented NI. Consequently, the hospital saves 3 to 5 more bed-days to backfill and generate more revenue, and/or make more efficient resource allocation by changing bed-capacity and staffing. The resulting opportunity costs can potentially exceed €1,000 per preventable case. Conclusion NIs pose a substantial economic burden for hospitals. From a health economics’ perspective, there are strong economic incentives for hospitals to implement infection control interventions, such as the involvement of a prevention link physician/nurse.

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 $9million/yr 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.

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.)

In this work we solve initial-boundary value problems associated to coupled 2D parabolic singularly perturbed systems of convection-diffusion type. The analysis is focused on the cases where the diffusion parameters are small, distinct and also they may have different order of magnitude. In such cases, overlapping regular boundary layers appear at the outflow boundary of the spatial domain. The fully discrete scheme combines the classical upwind scheme defined on an appropriate Shishkin mesh to discretize the spatial variables, and the fractional implicit Euler method joins to a decomposition of the difference operator in directions and components to integrate in time. We prove that the resulting method is uniformly convergent of first order in time and of almost first order in space. Moreover, as only small tridiagonal linear systems must be solved to advance in time, the computational cost of our method is remarkably smaller than the corresponding ones to other implicit methods considered in the previous literature for the same type of problems. The numerical results, obtained for some test problems, corroborate in practice the good behavior and the advantages of the algorithm. [ABSTRACT FROM AUTHOR]

[Objective) The study aimed to provide theoretical underpinnings for optimizing the mechanism of agricultural science and technology transformation by analyzing the multi-agent decision-making process through an evolutionary game model involving three parties: the suppliers of technological innovations, digital intelligence platforms and demanders of technology. (Method) Based on the dynamic evolutionary game theory, a tripartite payoff matrix was constructed in the past, and through numerical simulation analysis utilizing Matlab, the impacts of various parameters such as initial willingness, explicit and implicit costs, and revenue distribution on the decision-making behaviors of the agricultural science and technology achievement transformation entities were analyzed. (Result) (i) Assuming that the returns of all subjects choosing the 'active participation' strategy were all positive, the unstable point evolved along the saddle point E₁ (0,0,0) and ultimately reached the stable point Es (1,1,1); (ii) The intensity of the initial willingness determined the direction of cooperation. As the initial willingness of all three parties increased, the trend towards active cooperation accelerated; (iii) Explicit cost and implicit costs were also important factors determining the direction of cooperation. As either explicit or implicit costs increased, the speed of moving towards the equilibrium point of positive cooperation slowed down; (iv) The higher the allocation ratio of any subject, the greater the probability of choosing 'active participation'. However as the allocation ratio of a certain subject was too high, the probability of other subjects choosing 'active participation' decreased. [Conclusion】 To expedite the pace and efficiency of technology transformation, it is imperative to create an environment that enhances the initial willingness of all parties, reduces collaboration costs, and ensures balanced consideration of each party's interests in the distribution of benefits. Recommendations include constructing a network of digital intelligence platforms for agricultural science and technology transformation, increasing investment in the development and maintenance of digital intelligence platforms, standardizing the agricultural science and technology transformation practices, and refining the mechanisms for benefit distribution among all stakeholders. [ABSTRACT FROM AUTHOR]

This study compares the costs of a school-based online credit recovery model to more traditional teacher-directed credit recovery using rigorous cost analysis methods. Findings indicate that differences in the comprehensive costs for online and teacher-directed credit recovery classes are small. However, cost differences across the two models of specific types of resources are substantial and statistically significant. Online credit recovery classes resulted in higher district-incurred costs largely due to the purchase of online curricula and required technology. The online model incurred lower opportunity costs to teachers stemming from less out-of-class time devoted to grading, lesson planning, and developing course materials. [ABSTRACT FROM AUTHOR]

Cash holding decision‐making is one of the main corporate challenges for family firms (FFs), with significant consequences for their growth and survival. It is closely connected to key financial decisions such as financing, investments, and dividends. The motivations behind adjusting cash holdings vary, encompassing precautionary, risk avoidance, opportunity cost considerations, and the spending hypothesis. In our study, we aim to integrate specific motivations for cash holding decisions that stem from the influence of family dynamics within these businesses since FFs have unique characteristics, which affect their financial choices. Therefore, we analyze the impact of family involvement in management and the generational stage of FFs on their level of cash holdings. The results of the partial least squares–structural equation modeling, which was estimated on a sample of 7269 unlisted Spanish FFs, show that the higher the level of family involvement in management, as well as the higher the generational stage, the higher the level of cash holdings, with this having a positive effect on the firm's performance. In addition, we find that the positive relationship between family involvement in management and the level of cash holdings is strengthened by family ownership and weakened by family governance. These findings are relevant for a better understanding of the complexity of cash holding decision‐making in FFs and have practical implications not only for the FFs themselves but also for the entities related to them due to the important links between a firm's liquidity and its risk of default and performance. [ABSTRACT FROM AUTHOR]

We conducted an experiment designed to increase demand for academic support services among more than 2,100 students at a large U.S. public university. The intervention shifted student attention and increased service use, but also revealed behavioral biases. Structural estimates using the experimental variation suggest that transaction costs well in excess of plausible opportunity costs explain relatively low service use. Moreover, one-third of students are never attentive to student services. Message characteristics also matter. Several common nudging techniques—such as text messages, lottery-based economic incentives, and repeated messages—either had no effect or in some cases reduced the effectiveness of messaging. [ABSTRACT FROM AUTHOR]

OVERVIEW: This study examines the temporal attributes, barriers, and outcomes of slack time in R&D organizations. The study findings indicate that slack time has a waved occurrence, organically arising from downtimes in core work and uptimes in personal creativity. Endemic overcommitment of employees and high perceived opportunity costs prevent slack time from being used effectively in many organizations, resulting in merely rhetorical slack time. The findings suggest that genuine slack time requires formally allocating resources to pay for discretionary time and insulating employees from urgent demands. The study identifies three main outcomes of genuine slack time: (1) It diversifies creativity sources, leading to a spectrum of innovativeness and applications; (2) it increases employee motivation through autonomy and empowerment; and (3) it functions as a cultural lever signaling trust. The study contributes a nuanced conceptualization of slack time grounded in practitioner experiences and offers insights for managing slack time to foster innovation and employee engagement. PRACTITIONER TAKEAWAYS: Slack time manifests as pockets of free time that arise opportunistically during slow periods in regular work and when employees experience personal momentum. Genuine slack time requires that employees are not 100 percent committed to core work and that they are protected from urgent demands during slack time usage. Slack time boosts employee motivation and retention and can contribute to a balanced early-stage innovation portfolio. [ABSTRACT FROM AUTHOR]

In practice, capital‐constrained third‐party logistics (3PL) firms usually obtain bank financing (BF) to invest in logistics technology to enhance the consumer shopping experience. The emergence of financial innovation has prompted the adoption of alternative financing modes by 3PLs, including e‐commerce platform financing (EPF) and fourth‐party logistics financing (4PF). To clarify the differences among the three financing modes at the operational management level, we develop a Stackelberg game model to capture the strategic interactions between the 3PL and creditors. We examine a platform‐based supply chain where a manufacturer sells products through an e‐commerce platform to consumers, with the logistics services for the supply chain provided by the 3PL and fourth‐party logistics (4PL) firms. The analysis results reveal that the equilibrium interest rates under EPF and 4PF share a similar pattern regarding the logistics service cost coefficient, the commission rate, and the 4PL service fee. The difference is that under EPF (4PF), the logistics service level increases in the commission rate (4PL service fee) but decreases under the other financing strategy. Furthermore, the 3PL is inclined to invest in logistics technology only when the fixed investment cost is low, and these financing modes are complementary rather than alternative. The 3PL and manufacturer can benefit from 4PF (BF) when the logistics service cost coefficient is large and the market size is small (large); otherwise, EPF can enhance their profits. We also find that when the opportunity costs of capital are homogeneous, both the 4PL and the platform are consistently willing to act as financiers themselves. However, when considering heterogeneity in the opportunity costs of capital, they may be reluctant to provide financing. Each financing mode may achieve Pareto improvements under specific conditions. Finally, we also analyze the impact of technology R&D risks and endogenous 4PL service fee, yielding some valuable insights. [ABSTRACT FROM AUTHOR]

Copyright of Arab Journal for Scientific Publishing is the property of Research & Development of Human Recourses Center (REMAH) 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 examines the mechanism of voluntary IFRS adoption on earnings management in Japan. Limited research clarifies how IFRS adoption influences earnings management. Using data from listed firms between 2011 and 2018, the multivariate regression results suggest that voluntary IFRS adoption in Japan increases the extent of discretionary accruals. Furthermore, the relation becomes more pronounced when firms have greater accounting opportunities and stronger cost incentives. The main findings hold after various robustness tests. This study fills the gap in the literature by investigating the mechanism that IFRS adoption enhances opportunities and motivation for earnings management through accounting ambiguity. [ABSTRACT FROM AUTHOR]

One of the most widely researched macroeconomic relationships is money demand stability, which helps monetary authorities understand what motivates economic agents hold real money balances and whether it can predict inflation. However, endogenous structural shocks to macroeconomic fundamentals have often been criticized for distorting the equilibrium relationship among economic variables. These shocks usually stem from socioeconomic and political changes, behavior of economic agents, and random shocks. We examine the presence of cointegrating relationships between money demand and scale and opportunity cost variables while allowing for multiple endogenous structural breaks in the cointegrating vectors in the Indian context for the period 1996:Q2–2021:Q2. We utilize the Narayan and Popp (J Appl Stat 37(9):1425–1438, 2010) test to identify the break dates in each series and then employ the Maki (Econ Model 29(5):2011–2015, 2012) cointegration approach to establish the presence of long-run relationships between money demand and its covariates. Our study finds the presence of stable long-run relationships in the money demand function, implying that monetary authorities may target narrow and broad monetary aggregates as an indicator or treat them as an information variable to anchor the inflation expectations of economic agents under the current flexible inflation-targeting framework. [ABSTRACT FROM AUTHOR]

Informed by my secondment to the UK Parliament in 2015-2016, and the production and reception of The Good Parliament report--which offered a blueprint for a diversity-sensitive House of Commons--this article reflects on my experiences becoming a feminist academic critical actor. This new type of critical actor extends the conceptualization first developed by Childs and Krook (2006, 2008). A distinctiveness vis. Chappell and Mackay's (2021) concept of the "feminist critical friend" is also drawn: In addition to researching institutional change and supporting others in their reform work, the feminist academic critical actor is essential to instigate and institute institutional change. In this, the feminist academic critical actor is engaged in quotidian persuasion work and is both the agent as well as the analyst of research, critically reflecting on the dynamics and actors of institutional status, change, and resistance, including their own acts, in situ and after. In making the case for the feminist academic critical actor, the academic is recognized as doing something different, begging important questions of responsibility and accountability, and the opportunities and costs of engaging in such acts, particularly for minoritized and/or precarious academics. In the latter part of the article, I sketch out some of the dilemmas located in the questioning of my authority and legitimacy, and concerning the harm that I faced as a relatively privileged aspirant feminist academic critical actor, acting to rework the highly masculinized institution that is the UK House of Commons. [ABSTRACT FROM AUTHOR]

We demonstrate an inverse relationship between women's financial equality status with men (as proxied by gender wage gap), and women's entrepreneurship participation at the U.S. state level. Gender wage gap affects women's opportunity cost of the entrepreneurship decision. In states where women's status is lower, women's opportunity cost of becoming an entrepreneur is lower because their wages are lower, increasing women's entrepreneurship participation. We also demonstrate that states' demographics are important factors, but only education is specific to women. Collectively, we find that women choose to be entrepreneurial when their status is lower, which reflects women's economic resiliency. [ABSTRACT FROM AUTHOR]

Autologous Platelet-rich fibrin (PRF) is an amalgam of fibrin mesh, platelets and growth factors that favour wound healing. It can be easily used as a graft material in myringoplasty, making it a promising, easy to harvest and cost effective alternative compared to cartilage or fascia graft used in conventional myringoplasty. 50 patients of small to medium, dry central perforation underwent myringoplasty using PRF graft (Group 1). Results were compared to 50 patients with similar small to medium perforations who underwent conventional transcanal myringoplasty using temporalis fascia graft (Group 2): Outcome of surgery was measured by closure of perforation and improvement in hearing at 3 months. In group 1, overall closure rate was 70% while in group 2 it was 96%. For both small and medium perforations healing was significantly higher in group 2 compared to group 1, (100% vs 87.5%) for small perforations and (95.45% vs 66.67%) for medium perforations. Hearing gain was comparable in both groups in patients in whom healing of perforation occurred. PRF stands as a suitable graft material for closure of small perforations, but, lack of rigidity and early disintegration of the graft makes it less suitable for larger perforations compared to other conventional grafts such as temporalis fascia. [ABSTRACT FROM AUTHOR]

Background: The EXOFFIT study compared the effectiveness of three time‐matched exercise interventions in women with obesity for improving cardiorespiratory fitness. To best inform future research, evaluation of the interventions' acceptability is needed. Previous research has been inconsistent with methods and reporting of acceptability. Thus, the theoretical framework of acceptability (TFA) can be utilized to ensure that all aspects of acceptability are evaluated. No study to date in women with obesity has utilized the TFA in conjunction with quantitative data (i.e., frequencies of themes) to highlight the aspects of interventions that may be most important for participants. Objective: This study aimed to examine the acceptability of the EXOFFIT program and gain insight into the participants' experience of participation, their perspective on the acceptability of trial procedures and interventions and gather their feedback on program changes. Methods: A mixed‐methods approach was employed. Thirty‐eight participants who completed the exercise interventions were interviewed and completed a self‐reported exit questionnaire. Interviews were transcribed verbatim and analyzed in three phases: emergent themes were agreed upon, then mapped to the TFA constructs and the frequencies of each construct and theme were presented as counts. Data collected from the exit questionnaire were collated and reported using descriptive statistics. Results: All seven TFA constructs were identified in the analysis. The EXOFFIT program was found to have a high level of acceptability, with affective attitude, perceived effectiveness and self‐efficacy being the most reported constructs. The burden and opportunity costs associated with the program were mainly related to family commitments and support needed to participate. Any negative impact of participation was noted to be outweighed by the perceived benefits. Conclusions: The results of this study will inform the development of future programs with women with obesity and support the consideration of the TFA constructs from the outset of study design. Clinical Trial Registration Number: ISRCTN13517067 [ABSTRACT FROM AUTHOR]