The "dangerous niche" hypothesis posits that neophobia functions to reduce the cost of habitat use among animals exposed to unknown risks. For example, more dangerous foraging or higher competition may lead to increased spatial neophobia. Likewise, elevated ambient predation threats have been shown to induce phenotypically plastic neophobic predator avoidance. In both cases, neophobia is argued...

OBJECTIVES To present the method used to evaluate the cost effectiveness, from the societal perspective, of transurethral microwave thermotherapy relative to medical therapy (alpha-blocking agents) and transurethral resection of the prostate (TURP) for a hypothetical cohort of 65-year-old men with moderate-to-severe benign prostatic hyperplasia (BPH) symptoms. METHODS We constructed a decisio...

Though it is an important means for enterprises to increase market demand and boost profits, trade credit can carry risks. Besides, risks also result from uncertain demand. Decision-makers’ attitude towards risk will influence the decisions of enterprises, so meaningful study impact preference on supply chain performance. This paper explores effect risk-averse preferences manufacturer or retail...

Incremental innovations appears to be much more frequent than radical innovations. Possible explanations rely on the effect of degree competition in market. The paper, contrary, focuses agents' attitude towards status quo and con- servativeness specifies conditions where preference for incremental represents an optimum. In fact, welfare generated by drops dramatically when agents are uncertaint...

This paper explores sovereign risk preferences against direct and indirect natural disasters losses in industrialized countries. Using Australia as a case study, the analysis compares expected disaster losses and government capacity to finance losses. Utilizing a national disaster loss dataset, extreme value theory is applied to estimate an all-hazard annual loss distribution. Unusually but cri...

In this paper, we study the optimal order quantity decisions for a risk-averse newsvendor with a backorder case, where it is assumed that all or part of the excess demands of the customers can be backlogged. The optimal decisions are obtained under the popular Conditional Value-at-Risk (CVaR) criterion, which is to control the risk of the profit due to uncertain market demands. We study two bas...

Expected utility maximization is not a good predictive model of how people value outcomes. One of the ways in which people systematically deviate from expected utility maximization is loss aversion, where losses (relative to some reference point) are more highly weighted than gains. I investigate whether and how the theoretical guarantees of congestion games change when the agents are assumed t...

This paper develops a methodology for characterizing expected revenue from auctions when bidders’ types come from an arbitrary distribution. In particular, types may be multidimensional, and there may be mass points in the distribution. One application extends existing revenue equivalence results. Another application shows that first-price auctions yield higher expected revenue than second-pric...

We consider the case of a digital product for share-averse bidders, where the product can be sold to multiple buyers who experience some disutility from other firms or consumers owning the same product. We model the problem of selling a digital product to share-averse bidders as an auction and apply a Bayesian optimal mechanism design. We also design constant-approximation algorithms in the pri...

We extend the analysis on hedging with price and output uncertainty by endogenizing the output decision. Specifically, we consider the joint determination of output and hedging in the case of flexibility in production. We show that the risk-averse firm always maintains a short position in the futures market when the futures price is actuarially fair. Moreover, in the context of an example, we s...