We propose a multi-agent based utilitarian approach to model and understand information flows in social networks that lead to Pareto optimal informational exchanges. We model the individual expected utility function of the agents to reflect the net value of information received. We show how this model, adapted from a theorem by Karl Borch dealing with an actuarial Risk Exchange concept in the I...

We propose a multi-agent based utilitarian approach to model and understand information flows in social networks that lead to Pareto optimal informational exchanges. We model the individual expected utility function of the agents to reflect the net value of information received. We show how this model, adapted from a theorem by Karl Borch dealing with an actuarial Risk Exchange concept in the I...

Grasses are natural homogenous group of plants and belong to the Gramineae family (Poaceae). The value of grasses to mankind has been recognized since the dawn of human civilization and culture of cereal grasses. In the present study, Leptochloa uniflora Hochst (Poaceae) was subjected to antioxidant and phytochemical profiles using UV-Vis, FTIR and HPTLC. Antioxidant assays were studied using D...

Renegotiation-proof contracts are studied in infinitely repeated principalagent contracting. Contracts satisfying a weaker notion of renegotiationproofness always exist. With risk neutrality, efficient full-commitment contracts are renegotiation-proof if the agent’s expected lifetime utility is above a critical level; otherwise or if the agent is risk averse then efficient fullcommitment contra...

Since the 1990s, the scope of research evaluations becomes broader as the societal products (outputs), societal use (societal references), and societal benefits (changes in society) of research come into scope. Society can reap the benefits of successful research studies only if the results are converted into marketable and consumable products (e.g., medicaments, diagnostic tools, machines, and...

The aim of this paper is to transfer the concept of market-consistent embedded value (MCEV) from life to non-life insurance. This is an important task since the differences between management techniques used in life and non-life insurance make management at group level very difficult. Our methodology might be a way out of this unfavorable situation. After explaining the idea of MCEV, we derive ...

In decision-making tasks with two attributes and three alternatives, the similarity effect implies that, if the total expected utility is equal between two opposite alternatives (i.e., the target and competitor), the probability of the target being chosen decreases with the addition of the decoy similar to the target. This study demonstrated the similarity-compromise effect, wherein the probabi...

This paper studies some problems regarding mobile content quality (MCQ). Since the reason for communication is to be useful, we think that the only way of creating precise target group hitting mobile content is by thoroughly understanding MCQ and how it can be created. We present the results of a Finnish mobile user survey in which the users clearly point out MCQ areas that have to be improved ...

This study explored how preference reversals, induced by changes in response mode (choice vs. pricing), are moderated by how lotteries are represented, as being played 1, 10, or 100 times. Ss chose which of a pair of gambles they preferred to play and determined the minimum selling price of each gamble. Replicating previous research, the preference reversal was obtained for single-play represen...