Austrian business cycle theory has been criticized on the basis of “rational expectations.” That is, reasonably high quality entrepreneurs—which are required for economic growth—should be able to foresee the business cycle and thereby avoid making malinvestments. As noted by Evans and Baxendale (2008), this argument ignores the fact that entrepreneurs are heterogeneous in quality. American hous...

show la belle indifference or lack of anxiety, and there will be primary and secondary gain achieved; primary gain from the symptom which symbolises the unconscious conflict, and secondary gain by the attention the patient receives [2,3]. The diagnosis can be made by elimination of an organic cause together with obtaining a careful history, including timing of events and any underlying stress. ...

Under which condition does the set of desirable uncertain prospects expand when wealth increases? We show that the decreasing concavity (DC) of the utility function  is necessary and sufficient in the −maxmin expected utility model. In the smooth ambiguity aversion model with the ambiguity valuation function , the DC of  and of ◦ is necessary and sufficient. An alternative definition of d...

AIM To determine whether there has been a consistent change across countries and healthcare systems in the frequency of strabismus surgery in children over the past decade. METHODS Retrospective analysis of data on all strabismus surgery performed in NHS hospitals in England and Wales, on children aged 0-16 years between 1989 and 2000, and between 1994 and 2000 in Ontario (Canada) hospitals. ...

The purpose of this paper is to investigate the real sequences γ0, γ1, γ2, . . . with the property that if p(x) = ∑n k=0 akx k is any real polynomial, then ∑n k=0 γkakx k has no more nonreal zeros than p(x). In particular, the authors establish a converse to a classical theorem of Laguerre.

produce a measure of relative differences in each country. The figure combines the data for neonatal and postneonatal mortality and shows that England and Wales have a steeper and more consistent gradient of mortality across social classes than Sweden. The width of the "steps" is proportional to each class's share of total live births. The differences in total mortality and its socioeconomic di...

The decreasing diagrams technique is a complete method to reduce confluence of a rewrite relation to local confluence. Whereas previous presentations have focussed on the proof the technique is correct, here we focus on applicability. We present a simple but powerful generalisation of the technique, requiring peaks to be closed only by conversions instead of valleys, which is demonstrated to fu...

A key issue in the handling of temporal data is the treatment of persistence; in most approaches it consists in inferring defeasi­ ble conlusions by extrapolating from the ac­ tual knowledge of the history of the world; we propose here a gradual modelling of per­ sistence, following the idea that persistence is decreasing (the further we are from the last time point where a fluent is known to b...

The theory of increasing positively homogeneous functions deened on the positive orthant is applied to the class of decreasing functions. A multiplicative version of the inf-convolution operation is studied for decreasing functions. Modiied penalty functions for some constrained optimization problems are introduced which are in general nonlinear with respect to the objective function of the ori...

This paper attempts to explain how cost of intermediation can be reduced. One solution we postulate is subsidizing the cost of intermediation. The model uses ex-ante identical, spatially separated agents in an overlapping-generations framework. Agents receive relocation shock when they become old. We conclude that government cannot subsidize the cost of intermediation completely but it can redu...