Convergence across countries and regions: theory and empirics

This paper surveys the recent literature on convergence across countries and regions. I discuss the main convergence and divergence mechanisms identified in the literature and develop a simple model that illustrates their implications for income dynamics. I then review the existing empirical evidence and discuss its theoretical implications. Early optimism concerning the ability of a human capital-augmented neoclassical model to explain productivity differences across economies has been questioned on the basis of more recent contributions that make use of panel data techniques and obtain theoretically implausible results. Some recent research in this area tries to reconcile these findings with sensible theoretical models by exploring the role of alternative convergence mechanisms and the possible shortcomings of panel data techniques for convergence analysis.

Bargaining and Conflict with Incomplete Information

This paper studies bargaining and conflict under incomplete information, provides an overview and a critical account of the literature on the topic and contributes with original research. We first revise models of mechanism design and sequential bargaining that take confrontation as final. Conflict and inefficiencies are to be expected in these models whenever parties have optimistic prospects on the outcome of the all-out conflict. After examining the causes and reasons for this optimism, we move to the analysis of the recent literature that considers the existence of limited confrontations that allow bargaining to resume. In the presence of private information, these limited conflicts convey information and thus become a bargaining instrument. The paper closes with a discussion on the related empirical literature, the challenges that it faces and some potential avenues for further research.

Development of mavoglurant and its potential for the treatment of fragile X syndrome.

Introduction: Fragile X syndrome (FXS) is the most common inherited cause of intellectual disability. With no curative treatment available, current therapeutic approaches are aimed at symptom management. FXS is caused by silencing the FMR1 gene, which encodes FMRP; as loss of FMRP leads to the development of symptoms associated with FXS. Areas covered: In this evaluation, the authors examine the role of the metabotropic glutamate receptor 5 (mGluR5) in the pathophysiology of FXS, and its suitability as a target for rescuing the disease state. Furthermore, the authors review the evidence from preclinical studies of pharmacological interventions targeting mGluR5 in FXS. Lastly, the authors assess the findings from clinical studies in FXS, in particular the use of the Aberrant Behavior Checklist-Community Edition (ABC-C) and the recently developed ABC-C for FXS scale, as clinical endpoints to assess disease modification in this patient population. Expert opinion: There is cautious optimism for the successful treatment of the core behavioral and cognitive symptoms of FXS based on preclinical data in animal models and early studies in humans. However, the association between mGluR5-heightened responsiveness and the clinical phenotype in humans remains to be demonstrated. Many questions regarding the optimal treatment and outcome measures of FXS remain unanswered.

Anticipation, Learning and Welfare: the Case of Distortionary Taxation

We study the impact of anticipated fiscal policy changes in a Ramsey economy where agents form long-horizon expectations using adaptive learning. We extend the existing framework by introducing distortionary taxes as well as elastic labour supply, which makes agents. decisions non-predetermined but more realistic. We detect that the dynamic responses to anticipated tax changes under learning have oscillatory behaviour that can be interpreted as self-fulfilling waves of optimism and pessimism emerging from systematic forecast errors. Moreover, we demonstrate that these waves can have important implications for the welfare consequences of .scal reforms. (JEL: E32, E62, D84)

Contra la filosofia de la consolació

Introducció al pensament del filòsof positivista australià D.C. Stove (1928-1994). Amb la traducció contextualitzada de tres escrits curts representatius: "El somni d'Holbach" (1989), "Antagonismes racials i d'altra mena" i "Adéu a les Lletres" (1989). L'obra d'Stove està dedicada al combat de l'idealisme en totes les seves manifestacions, des de l'optimisme de la Il·lustració fins al relativisme epistèmic contemporani.

Frontotemporal Dementia Research Coming of Age: Alzheimer Research Forum

Long the obscure cousins of Alzheimer's, the frontotemporal dementias last month stood in the glare of a large three-day meeting devoted specifically to this particular group of diseases. FTD is an isolating and ruinous progressive illness. Sufferers exhibit a range of disturbing, aberrant behaviors and often reckless financial decisions, all coupled with a puzzling emotional flatness that makes it impossible for them to realize it's actually wrong to cheat on a spouse or spend the family savings. In the wake of some recent genetic and biochemical advances, FTD research is now quickly picking up speed, and a new sense of optimism pervaded the 7th International Conference on Frontotemporal Dementias. Madolyn Bowman Rogers captured its essence-read her series to learn what FTD is, and how new research is changing its diagnosis, biological understanding, and the search for new treatments.Frontotemporal Dementia Research Comes of AgeNeuroimaging Opens Window to Disease, Better DiagnosisDissecting the Pathways Behind Frontotemporal DementiaClinical Trials a Ripple, Scientists Hope for a WaveView PDF of the entire series.��

Frontotemporal Dementia Research Coming of Age: Alzheimer Research Forum

Long the obscure cousins of Alzheimer's, the frontotemporal dementias last month stood in the glare of a large three-day meeting devoted specifically to this particular group of diseases. FTD is an isolating and ruinous progressive illness. Sufferers exhibit a range of disturbing, aberrant behaviors and often reckless financial decisions, all coupled with a puzzling emotional flatness that makes it impossible for them to realize it's actually wrong to cheat on a spouse or spend the family savings. In the wake of some recent genetic and biochemical advances, FTD research is now quickly picking up speed, and a new sense of optimism pervaded the 7th International Conference on Frontotemporal Dementias. Madolyn Bowman Rogers captured its essence-read her series to learn what FTD is, and how new research is changing its diagnosis, biological understanding, and the search for new treatments.Frontotemporal Dementia Research Comes of AgeNeuroimaging Opens Window to Disease, Better DiagnosisDissecting the Pathways Behind Frontotemporal DementiaClinical Trials a Ripple, Scientists Hope for a WaveView PDF of the entire series.��

Synergism/complementarity of recombinant adenoviral vectors and other vaccination platforms during induction of protective immunity against malaria

The lack of immunogenicity of most malaria antigens and the complex immune responses required for achieving protective immunity against this infectious disease have traditionally hampered the development of an efficient human malaria vaccine. The current boom in development of recombinant viral vectors and their use in prime-boost protocols that result in enhanced immune outcomes have increased the number of malaria vaccine candidates that access pre-clinical and clinical trials. In the frontline, adenoviruses and poxviruses seem to be giving the best immunization results in experimental animals and their mutual combination, or their combination with recombinant proteins (formulated in adjuvants and given in sequence or being given as protein/virus admixtures), has been shown to reach unprecedented levels of anti-malaria immunity that predictably will be somehow reproduced in the human setting. However, all this optimism was previously seen in the malaria vaccine development field without many real applicable results to date. We describe here the current state-of-the-art in the field of recombinant adenovirus research for malaria vaccine development, in particular referring to their use in combination with other immunogens in heterologous prime-boost protocols, while trying to simultaneously show our contributions and point of view on this subject.

Entrepreneurial decision-making using the knightian uncertainty approach

The article discusses the behavioral aspects that affect the entrepreneurs' decision making under the Knightian uncertainty approach. Since the profit arising from entrepreneurial activity represents the reward of an immeasurable and subjective risk, it has been hypothesized that innovative entrepreneurs have excessive optimism and confidence, which leads them to invest in high-risk activities. A behavioral model of decision making under uncertainty is used to test the hypothesis of overconfidence. This model is based on Bayesian inference, which allows us to model the assumption that these entrepreneurs are overconfident. We conclude that, under the hypothesis of overconfidence, these entrepreneurs decide to invest, despite the fact that the expected utility model indicates the contrary. This theoretical finding could explain why there are a large number of business failures in the first years of activity.

Association of candidate genes with phenotypic traits relevant to anorexia nervosa.

This analysis is a follow-up to an earlier investigation of 182 genes selected as likely candidate genetic variations conferring susceptibility to anorexia nervosa (AN). As those initial case-control results revealed no statistically significant differences in single nucleotide polymorphisms, herein, we investigate alternative phenotypes associated with AN. In 1762 females, using regression analyses, we examined the following: (i) lowest illness-related attained body mass index; (ii) age at menarche; (iii) drive for thinness; (iv) body dissatisfaction; (v) trait anxiety; (vi) concern over mistakes; and (vii) the anticipatory worry and pessimism versus uninhibited optimism subscale of the harm avoidance scale. After controlling for multiple comparisons, no statistically significant results emerged. Although results must be viewed in the context of limitations of statistical power, the approach illustrates a means of potentially identifying genetic variants conferring susceptibility to AN because less complex phenotypes associated with AN are more proximal to the genotype and may be influenced by fewer genes. Copyright © 2011 John Wiley & Sons, Ltd and Eating Disorders Association.

Skill, Luck, Overconfidence, and Risk Taking

In most naturally occurring situations, success depends on both skill and chance. We compare experimental market entry decisions where payoffs depend on skill alone and combinations of skill and luck. We find more risk taking with skill and luck as opposed to skill alone, particularly for males, and little overconfidence. Our data support an explanation based on differential attitudes toward luck by those whose self-assessed skills are low and high. Making luck more important induces greater optimism for the former, while the latter maintain a belief that high levels of skill are sufficient to overcome the vagaries of chance.

Réquiem por la muerte del yo artista

RÉQUIEM POR LA MUERTE DEL YO ARTISTA es un proyecto audiovisual en forma de performance sobre la música del compositor finlandés contemporáneo Einojuhani Rautavaara, los Requiem del poeta alemán Rainer Maria Rilke y la concepción filosófica del arte y su comercialidad del artista americano Andy Warhol. RÉQUIEM POR LA MUERTE DEL YO ARTISTA es mi sangre. Es mi compromiso. Trata sobre la dualidad entre el artista y la persona, y cómo esto afecta a nuestro arte. RÉQUIEM POR LA MUERTE DEL YO ARTISTA es una operación de corazón. Es provocación; es sobre vomitar tu mente y estar sediento de futuro. Es comerte a ti mismo. Pero sobre todo, es mi concepción de arte: arte es todo aquello por lo que el creador esté dispuesto a morir.

North-South convergence and the allocation of CO2 emissions

We postulate a two-region world, comprised of North (calibrated after the US) and South(calibrated after China). Our optimization results show the compatibility of the following threedesiderata:(1) Global CO2 emissions follow a conservative path that leads to the stabilizationof concentrations at 450 ppm.(2) North and South converge to a path of sustained growth at 1% per year (28.2%per generation) in 2075.(3) During the transition to the steady state, North also grows at 1% per year whileSouth s rates of growth are markedly higher.The transition paths require a drastic reduction of the share of emissions allocated to North,large investments in knowledge, both in North and South, as well as very large investments ineducation in South. Surprisingly, in order to sustain North s utility growth rate, some output mustbe transferred from South to North during the transition.Although undoubtedly subject to many caveats, our results support a degree of optimism byproviding prima facie evidence of the possibility of tackling climate change in a way that is fairboth across generations and across regions while allowing for positive rates of humandevelopment.

When "hope springs eternal": The role of chance in risk taking

In most naturally occurring situations, success depends on both skill and chance. We contrastexperimental market entry decisions where payoffs depend on skill as opposed tocombinations of skill and chance. Our data show differential attitudes toward chance by thosewhose self-assessed skills are low and high. Making chance more important induces greateroptimism for the former who start taking more risk, while the latter maintain a belief that highlevels of skill are sufficient to overcome the vagaries of chance. Finally, although weobserved excess entry (i.e., too many participants entered markets), this could not beattributed to overconfidence.

'Biased' Risk Perceptions of Longevity and Disability in Old Age

Rational learning theories postulate that information channels and cognitive biases such as individual optimism may influence an individual¿s assessment of the risk of undesired events, especially with regard to those that have a cumulative nature. This is the case with disability in old age, which may take place upon survival to an advanced age, and such factors have been regarded as responsible for certain individual behaviours (for example, the limited incidence of insurance purchase). This paper examines the determinants of individual perceptions with regard to disability in old age and longevity. The cumulative nature of such perceptions of risk is tested, and potential biases are identified, including `optimism¿ and a set of information determinants. Empirical evidence from a representative survey of Catalonia is presented to illustrate these effects. The findings from this research suggest a significant overestimation of disability in old age, yet this is not the case with longevity. Furthermore, individual perceptions with regard to disability in old age, unlike those with regard to longevity, exhibit on aggregate an `optimistic bias¿ and, are perceived as `cumulative risks¿. Gender influences the perceived risk of disability in old age at a population level but not at the individual level, and the opposite holds true for age. Finally, self-reported health status is the main variable behind risk perceptions at both the individual and population level.