An ordinal shapley value for economic environments (Revised version)

We propose a new solution concept to address the problem of sharing a surplus among the agents generating it. The problem is formulated in the preferences-endowments space. The solution is defined recursively, incorporating notions of consistency and fairness and relying on properties satisfied by the Shapley value for Transferable Utility (TU) games. We show a solution exists, and call it the Ordinal Shapley value (OSV). We characterize the OSV using the notion of coalitional dividends, and furthermore show it is monotone and anonymous. Finally, similarly to the weighted Shapely value for TU games, we construct a weighted OSV as well.

Valuation of defaultable bonds and debt restructuring

In this paper we develop a contingent valuation model for zero-coupon bonds with default. In order to emphasize the role of maturity time and place of the lender’s claim in the hierarchy of debt of a firm, we consider a firm that issues two bonds with different maturities and different seniorage. The model allows us to analyze the implications of both debt renegotiation and capital structure of a firm on the prices of bonds. We obtain that renegotiation brings about a significant change in the bond prices and that the effect is dispersed through different channels: increasing the value of the firm, reallocating payments, and avoiding costly liquidation. Moreover, the presence of two creditors leads to qualitatively different implications for pricing, while emphasizing the importance of bond covenants and renegotiation of the entire debt.

An ordinal shapley value for economic environments

We propose a new solution concept to address the problem of sharing a surplus among the agents generating it. The sharing problem is formulated in the preferences-endowments space. The solution is defined in a recursive manner incorporating notions of consistency and fairness and relying on properties satisfied by the Shapley value for Transferable Utility (TU) games. We show a solution exists, and refer to it as an Ordinal Shapley value (OSV). The OSV associates with each problem an allocation as well as a matrix of concessions ``measuring'' the gains each agent foregoes in favor of the other agents. We analyze the structure of the concessions, and show they are unique and symmetric. Next we characterize the OSV using the notion of coalitional dividends, and furthermore show it is monotone in an agent's initial endowments and satisfies anonymity. Finally, similarly to the weighted Shapley value for TU games, we construct a weighted OSV as well.

Petrol consumption and redistributive effects of its taxation in Spain

The objective of this paper is to estimate a petrol consumption function for Spain and to evaluate the redistributive effects of petrol taxation. We use micro data from the Spanish Household Budget Survey of 1990/91 and model petrol consumption taking into account the effect that income changes may have on car ownership levels, as well as the differences that exist between expenditure and consumption. Our results show the importance that household structure, place of residence and income have on petrol consumption. We are able to compute income elasticities of petrol expenditure, both conditional and unconditional on the level of car ownership. Non-conditional elasticities, while always very close to unit values, are lower for higher income households and for those living in rural areas or small cities. When car ownership levels are taken into account, conditional elasticities are obtained that are around one half the value of the non- conditional ones, being fairly stable across income categories and city sizes. As regards the redistributive effects of petrol taxation, we observe that for the lowest income deciles the share of petrol expenditure increases with income, and thus the tax can be regarded as progressive. However, after a certain income level the tax proves to be regressive.

Corythaica cyathicollis (Costa, 1864), aspectos sistemáticos, biológicos e econômicos (Hemiptera, Tingidae)

The present work deals with the systematic, biological and economic problems related to Corythaica cyathicollis (Costa, 1864) (Hemip., Tingidae). In the first part are presented the generic characteristics of Corythaica and is discussed the status of the specific name. The validity of C. cyathicollis, as stated by DRAKE and his collaborators, was denied by MONTE in his last works, he considered the species as C. passiflorae. Even in the modern literature no agreement has been achieved and three names are still used (cyathicollis, passiflorae and planaris) to designate the same insect. In order to resolve definitively this problem, a Neotype is designed to fill the place of the missing type of C. cyathicollis. Also in the first parte is discussed the taxonomic value of both male and female genitalia. The whole male copulator apparatus is studied and are illustrated the genital capsules of 8 species of this genus. Special mention is made of the shape of the basal plates and the proportions of the segmental membrana. The female genitalia is studied based upon the work of FELDMAN & BAILEY (1952). In the second part the biological cycle of C. cyathicollis is carefully studied. Descriptions of the egg are done and the ways of oviposition. The number of eggs laid by the female was observed to be about 350, during a period of more than 45 days. The eclosion of the neanide I is illustrated in some of its phases and the 5 larval instars are described and illustrated. Ending this part are included the lists of parasites and predators observed as well as the plant hosts. The actual geographical distribution is presented, based chiefly on HURD (1945). The economic problems concerning this species are reported in the third part of the work, and the ways of control are discussed. An experiment was carried out involving 4 insecticides: Malathion and Parathion, commonly used against this "lace bug"; Toxaphene and Dimethoate (American Cyanamid 12.880), the last one is an insecticide recently introduced in Brazil and was not previously used for these purposes, but gave the best results and it is quite able to control these insects even on crops showing highly developed infestations.

3-T direct MR arthrography of the wrist: value of finger trap distraction to assess intrinsic ligament and triangular fibrocartilage complex tears.

PURPOSE: To determine the value of applying finger trap distraction during direct MR arthrography of the wrist to assess intrinsic ligament and triangular fibrocartilage complex (TFCC) tears. MATERIALS AND METHODS: Twenty consecutive patients were prospectively investigated by three-compartment wrist MR arthrography. Imaging was performed with 3-T scanners using a three-dimensional isotropic (0.4 mm) T1-weighted gradient-recalled echo sequence, with and without finger trap distraction (4 kg). In a blind and independent fashion, two musculoskeletal radiologists measured the width of the scapholunate (SL), lunotriquetral (LT) and ulna-TFC (UTFC) joint spaces. They evaluated the amount of contrast medium within these spaces using a four-point scale, and assessed SL, LT and TFCC tears, as well as the disruption of Gilula's carpal arcs. RESULTS: With finger trap distraction, both readers found a significant increase in width of the SL space (mean Δ = +0.1mm, p ≤ 0.040), and noticed more contrast medium therein (p ≤ 0.035). In contrast, the differences in width of the LT (mean Δ = +0.1 mm, p ≥ 0.057) and UTFC (mean Δ = 0mm, p ≥ 0.728) spaces, as well as the amount of contrast material within these spaces were not statistically significant (p = 0.607 and ≥ 0.157, respectively). Both readers detected more SL (Δ = +1, p = 0.157) and LT (Δ = +2, p = 0.223) tears, although statistical significance was not reached, and Gilula's carpal arcs were more frequently disrupted during finger trap distraction (Δ = +5, p = 0.025). CONCLUSION: The application of finger trap distraction during direct wrist MR arthrography may enhance both detection and characterisation of SL and LT ligament tears by widening the SL space and increasing the amount of contrast within the SL and LT joint spaces.

PIM place & ghost application

Actualment, el Servei d'Informàtica de l'Escola d'Enginyeries (SIEE) s'enfronta a dos problemes: l'augment del nombre d'alumnes, mantenint el mateix número d'ordinadors per fer les pràctiques i, d'altra banda, el també creixent nombre d'aplicacions que s'han desenvolupat i es desenvolupen per resoldre les necessitats generades pels mateixos alumnes. Aquest projecte neix amb la voluntat de solucionar aquests problemes, creant per un costat un aula de màquines virtuals i per altra banda crear un aplicatiu web, que servirà de framework i contenidor de futures aplicacions, on es pugui connectar de manera senzilla amb les màquines virtuals.

Mise en place d'un programme de prévention et de prise en charge du diabète en Suisse: le point de vue des patients et des professionnels de la santé [Implementation of a diabetes disease management program in Switzerland: patients' and healthcare professionals' point of view].

BACKGROUND: A reorganization of healthcare systems is required to meet the challenge of the increasing prevalence of chronic diseases, e.g. diabetes. In North-America and Europe, several countries have thus developed national or regional chronic disease management programs. In Switzerland, such initiatives have only emerged recently. In 2010, the canton of Vaud set up the "Diabetes Cantonal Program", within the framework of which we conducted a study designed to ascertain the opinions of both diabetic patients and healthcare professionals on the elements that could be integrated into this program, the barriers and facilitators to its development, and the incentives that could motivate these actors to participate. METHODS: We organized eight focus-groups: one with diabetic patients and one with healthcare professionals in the four sanitary areas of the canton of Vaud. The discussions were recorded, transcribed and submitted to a thematic content analysis. RESULTS: Patients and healthcare professionals were rather in favour of the implementation of a cantonal program, although patients were more cautious concerning its necessity. All participants envisioned a set of elements that could be integrated to this program. They also considered that the program could be developed more easily if it were adapted to patients' and professionals' needs and if it used existing structures and professionals. The difficulty to motivate both patients and professionals to participate was mentioned as a barrier to the development of this program however. Quality or financial incentives could therefore be created to overcome this potential problem. CONCLUSION: The identification of the elements to consider, barriers, facilitators and incentives to participate to a chronic disease management program, obtained by exploring the opinions of patients and healthcare professionals, should favour its further development and implementation.

Traitement des problèmes de dos et place de travail

Das Ziel des vorliegenden Forschungsprojekts besteht darin, die Arbeitsfähigkeit von Arbeitnehmern zu verbessern, die wegen unspezifischer Nacken- und/oder Kreuzschmerzen bei der Arbeit fehlen. Zu diesem Zweck haben wir ein Interventionsmodell entwickelt, das die modernen Ansätze der Rehabilitation bei Rückenerkrankungen mit den Erkenntnissen und Vorgehensweisen der Arbeitswissenschaften erweitert [Autoren S. 939] Le but du présent projet de recherche est d'améliorer la capacité de travail d'employés en arrêt à la suite de lombalgies et/ou de cervicalgies non spécifiques. C'est dans cette perspective que nous avons développé un modèle d'intervention fondé sur les principes de la réhabilitation des affections rachidiennes et les mesures professionnelles en relation avec l'ergonomie à la place de travail [auteurs p. 939]