The price of pain and the value of suffering.

Estimating the financial value of pain informs issues as diverse as the market price of analgesics, the cost-effectiveness of clinical treatments, compensation for injury, and the response to public hazards. Such valuations are assumed to reflect a stable trade-off between relief of discomfort and money. Here, using an auction-based health-market experiment, we show that the price people pay for relief of pain is strongly determined by the local context of the market, that is, by recent intensities of pain or immediately disposable income (but not overall wealth). The absence of a stable valuation metric suggests that the dynamic behavior of health markets is not predictable from the static behavior of individuals. We conclude that the results follow the dynamics of habit-formation models of economic theory, and thus, this study provides the first scientific basis for this type of preference modeling.

Why do firms acquire external technologies? Understanding the motivations for technology acquisitions

Why do firms acquire external technologies? Previous research indicates that there are a wide variety of motivations. These include the need to acquire valuable knowledge-based resources, to improve strategic flexibility, to experiment), to overcome organisational inertia, to mitigate risk and uncertainty, to reduce costs and development time in new product development, and the perception that the firm has the absorptive capacity to integrate acquisitions. In this paper we provide an in-depth literature review of the motivations for the acquisition of external technologies by firms. We find that these motivations can be broadly classed into four categories: (1) the development of technological capabilities, (2) the development of strategic options, (3) efficiency improvements, and (4) responses to the competitive environment. In light of this categorisation, we comment on how these different motivations connect to the wider issues of technology acquisition. © 2010 IEEE.

Towards real-time profiling of sprints using wearable pressure sensors

On-body sensor systems for sport are challenging since the sensors must be lightweight and small to avoid discomfort, and yet robust and highly accurate to withstand and capture the fast movements associated with sport. In this work, we detail our experience of building such an on-body system for track athletes. The paper describes the design, implementation and deployment of an on-body sensor system for sprint training sessions. We autonomously profile sprints to derive quantitative metrics to improve training sessions. Inexpensive Force Sensitive Resistors (FSRs) are used to capture foot events that are subsequently analysed and presented back to the coach. We show how to identify periods of sprinting from the FSR data and how to compute metrics such as ground contact time. We evaluate our system using force plates and show that millisecond-level accuracy is achievable when estimating contact times. © 2012 Elsevier B.V. All rights reserved.