Information aggregation and belief elicitation in experimental parimutuel betting markets

This paper studies the impact of belief elicitation on informational efficiency and individual behavior in experimental parimutuel betting markets. In one treatment, groups of eight participants, who possess a private signal about the eventual outcome, play a sequential betting game. The second treatment is identical, except that bettors are observed by eight other participants who submit incentivized beliefs about the winning probabilities of each outcome. In the third treatment, the same individuals make bets and assess the winning probabilities of the outcomes. Market probabilities more accurately reflect objective probabilities in the third than in the other two treatments. Submitting beliefs reduces the favorite-longshot bias and making bets improves the accuracy of elicited beliefs. A level-k framework provides some insights about why belief elicitation improves the capacity of betting markets to aggregate information. (C) 2012 Elsevier B.V. All rights reserved.

Medicalization, markets and consumers.

This paper examines the impact of changes in the medical marketplace on medicalization in U.S. society. Using four cases (Viagra, Paxil, human growth hormone and in vitro fertilization), we focus on two aspects of the changing medical marketplace: the role of direct-to-consumer advertising of prescription drugs and the emergence of private medical markets. We demonstrate how consumers and pharmaceutical corporations contribute to medicalization, with physicians, insurance coverage, and changes in regulatory practices playing facilitating roles. In some cases, insurers attempt to counteract medicalization by restricting access. We distinguish mediated and private medical markets, each characterized by differing relationships with corporations, insurers, consumers, and physicians. In the changing medical environment, with medical markets as intervening factors, corporations and insurers are becoming more significant determinants in the medicalization process.

Techniques and tools for parallelizing software

With the emergence of multicore and manycore processors, engineers must design and develop software in drastically new ways to benefit from the computational power of all cores. However, developing parallel software is much harder than sequential software because parallelism can't be abstracted away easily. Authors Hans Vandierendonck and Tom Mens provide an overview of technologies and tools to support developers in this complex and error-prone task. © 2012 IEEE.

A Generic Reference Software Architecture for Load Balancing over Mirrored Web Servers: NaSr Case Study

With the rapid expansion of the internet and the increasing demand on Web servers, many techniques were developed to overcome the servers' hardware performance limitation. Mirrored Web Servers is one of the techniques used where a number of servers carrying the same "mirrored" set of services are deployed. Client access requests are then distributed over the set of mirrored servers to even up the load. In this paper we present a generic reference software architecture for load balancing over mirrored web servers. The architecture was designed adopting the latest NaSr architectural style [1] and described using the ADLARS [2] architecture description language. With minimal effort, different tailored product architectures can be generated from the reference architecture to serve different network protocols and server operating systems. An example product system is described and a sample Java implementation is presented.