The complex financing system that supports health care spending in the US makes estimation of the incidence of financing both daunting and important. A significant portion of financing is embedded in the tax system at all levels of government, while tax expenditures that subsidize private purchases implicitly transfer a large share of financing from private to public revenue sources. We compute...

In this paper, complex network theory is used to make time-series analysis of key indicators of governance structure and financing data. We analyze scientific listed companies' governance data from 2010 to 2014 and divide them into groups in accordance with the similarity they share. Then we select sample companies to analyze their financing data and explore the influence of governance structur...

The genetic endowment underlying giftedness may operate in a far more complex manner than often expressed in most theoretical accounts of the phenomenon. First, an endowment may be emergenic. That is, a gift may consist of multiple traits (multidimensional) that are inherited in a multiplicative (configurational), rather than an additive (simple) fashion. Second, the endowment may not appear al...

The endowment effect has been widely documented. Recent models of reference-dependent preferences indicate that expectations play a prominent role in the presence of the phenomenon. A subset of such expectations-based models predicts an endowment effect for risk when reference points change from certain to stochastic. In two purposefully simple risk preference experiments, eliminating often-dis...

Transaction demand refers to the motivation to complete a transaction. As transaction demand increases, owners should sell at lower prices and buyers should buy at higher ones. It was predicted that the endowment effect—the tendency for minimum selling price to exceed maximum buying price for a particular commodity—should be minimized when buyers and sellers have high transaction demand. The re...

Humans often lie strategically. We study this problem in an ultimatum game involving informed proposers and uninformed responders, where the former can send an unverifiable statement about their endowment. If there are some intrinsically honest proposers, a simple message game shows that the rest of them are likely to declare a lower-than-actual endowment to the responders. In the second part o...

We examine the optimal portfolio selection problem of a single agent who receives an unhedgeable endowment. The agent wishes to optimize his/her log-utility derived from his/her terminal wealth. We do not solve this problem analytically but construct a recursive computational algorithm which approximates the optimal one. We present an “intelligent” initial portfolio which requires, numerically,...

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Calcutta, December 21st, 1914. From The Honorary Secretary, The School of Tropical Medicine Endowment Fund, To The Surgeon-General with the Government of Bengal. Sir,?I have the honor to forward herewith the first subscription list of the School of Tropical Medicine Endowment Fund, showing a balance of Rs 1,72,351-7-0 to its credit. The expenses of printing and distributing the appeal have been...