Capital Accumulation in the Presence of Informal Credit Contracts: Does the Incentive Mechanism Work Better than Credit Rationing Under Asymmetric Information?

Credit markets with asymmetric information often prefer credit rationing as a profit maximizing device. This paper asks whether the presence of informal credit markets reduces the cost of credit rationing, that is, whether it can alleviate the impact of asymmetric information based on the available information. We used a dynamic general equilibrium model with heterogenous agents to assess this. Using Indian credit market data our study shows that the presence of informal credit market can reduce the cost of credit rationing by separating high risk firms from the low risk firms in the informal market. But even after this improvement, the steady state capital accumulation is still much lower as compared to incentive based market clearing rates. Through self revelation of each firm's type, based on the incentive mechanism, banks can diversify their risk by achieving a separating equilibrium in the loan market. The incentive mechanism helps banks to increase capital accumulation in the long run by charging lower rates and lending relatively higher amount to the less risky firms. Another important finding of this study is that self-revelation leads to very significant welfare improvement, as measured by consumptiuon equivalence.

The Social versus Private Incentive to Sue

The private value of lawsuits is based on plaintiffs' expected recovery at trial compared to their filing costs, whereas the social value consists of the incentives suits create for injurers to invest in accident avoidance. Generally, there is no relationship between these two values: there may be either too many or too few suits from a social perspective. Thus, there is scope for corrective measures, although there is no simple policy. Extending the model to consider a negligence rule rather than strict liability, and to allow for pretrial settlements, leads to some modified conclusions but does not alter the basic insights.

The Economics of Incentive-Based Health Care Plans

Medical savings accounts (MSAs) belong to a larger class of incentive-based health care plans. Using a model that allows the consumer to invest in healthy activities, we examine the efficiency properties of incentive plans and compare them to traditional full- coverage and deductible plans, under both experience rating and community rating. The model also is extended to include utilization of preventive health care. Properly constructed incentive plans have the capacity to induce socially efficient levels of healthy activities and preventive care, raising the expected wealth of consumers without reducing insurers' profits.

Business model with discount incentive in a P2P-cloud multimedia streaming system

Today P2P faces two important challenges: design of mechanisms to encourage users' collaboration in multimedia live streaming services; design of reliable algorithms with QoS provision, to encourage the multimedia providers employ the P2P topology in commercial live streaming systems. We believe that these two challenges are tightly-related and there is much to be done with respect. This paper analyzes the effect of user behavior in a multi-tree P2P overlay and describes a business model based on monetary discount as incentive in a P2P-Cloud multimedia streaming system. We believe a discount model can boost up users' cooperation and loyalty and enhance the overall system integrity and performance. Moreover the model bounds the constraints for a provider's revenue and cost if the P2P system is leveraged on a cloud infrastructure. Our case study shows that a streaming system provider can establish or adapt his business model by applying the described bounds to achieve a good discount-revenue trade-off and promote the system to the users.

A novel monetary incentive for commercial P2P streaming

Today P2P faces two important challenges: design of mechanisms to encourage users’ collaboration in multimedia live streaming services; design of reliable algorithms with QoS provision, to encourage multimedia providers employ the P2P topology in commercial streaming services. We believe that these two challenges are tightly-related and there is much to be done with respect. This paper proposes a novel monetary incentive for P2P multimedia streaming. The incentive model classifies the users in groups according to the perceived video quality. We apply the model to a streaming system’s billing model in order to evaluate its feasibility and visualize its quantitative effect on the users’ motivation and the provider’s profit. We conclude that monetary incentive can boost up users’ cooperation, loyalty and enhance the overall system integrity and performance. Moreover the model defines the constraints for the provider’s cost and profit when the system is leveraged on the cloud. Considering those constraints, a multimedia content provider can adapt the billing model of his streaming service and achieve desirable discount-profit trade-off. This will moreover contribute to better promotion of the service, across the users on the Internet.

Dopamine receptor 4 promoter polymorphism modulates memory and neuronal responses to salience

Animal models and human functional imaging data implicate the dopamine system in mediating enhanced encoding of novel stimuli into human memory. A separate line of investigation suggests an association between a functional polymorphism in the promoter region for the human dopamine 4 receptor gene (DRD4) and sensitivity to novelty. We demonstrate, in two independent samples, that the -521Cmayor queT DRD4 promoter polymorphism determines the magnitude of human memory enhancement for contextually novel, perceptual oddball stimuli in an allele dose-dependent manner. The genotype-dependent memory enhancement conferred by the C allele is associated with increased neuronal responses during successful encoding of perceptual oddballs in the ventral striatum, an effect which is again allele dose-dependent. Furthermore, with repeated presentations of oddball stimuli, this memory advantage decreases, an effect mirrored by adaptation of activation in the hippocampus and substantia nigra/ventral tegmental area in C carriers only. Thus, a dynamic modulation of human memory enhancement for perceptually salient stimuli is associated with activation of a dopaminergic-hippocampal system, which is critically dependent on a functional polymorphism in the DRD4 promoter region.

Self-recognition in primates: phylogeny and the salience of species-typical features.

Self-recognition has been explored in nonlinguistic organisms by recording whether individuals touch a dye-marked area on visually inaccessible parts of their face while looking in a mirror or inspect parts of their body while using the mirror's reflection. Only chimpanzees, gorillas, orangutans, and humans over the age of approximately 2 years consistently evidence self-directed mirror-guided behavior without experimenter training. To evaluate the inferred phylogenetic gap between hominoids and other animals, a modified dye-mark test was conducted with cotton-top tamarins (Saguinus oedipus), a New World monkey species. The white hair on the tamarins' head was color-dyed, thereby significantly altering a visually distinctive species-typical feature. Only individuals with dyed hair and prior mirror exposure touched their head while looking in the mirror. They looked longer in the mirror than controls, and some individuals used the mirror to observe visually inaccessible body parts. Prior failures to pass the mirror test may have been due to methodological problems, rather than to phylogenetic differences in the capacity for self-recognition. Specifically, an individual's sensitivity to experimentally modified parts of its body may depend crucially on the relative saliency of the modified part (e.g., face versus hair). Moreover, and in contrast to previous claims, we suggest that the mirror test may not be sufficient for assessing the concept of self or mental state attribution in nonlinguistic organisms.

Deploying the energy incentive: reinforcing EU integration in South-East Europe. CEPS Policy Brief No. 296, July 2013

This Policy Brief urges the European Union to consider reinforcing the Energy Community by further Europeanising the Energy Community Treaty. It argues that the level of dysfunctionality with respect to the rule of law and corruption will make it very hard to establish a pathway for accession for most Balkan states. However, the demand across the region for a sustainable, competitive and stable energy sector creates an ‘energy incentive’ that the Union can leverage to improve the rule of law and adherence to European rules. Furthermore, a juridical strengthening of the Energy Community Treaty will also strengthen the hand of those parties supporting energy liberalisation rules across the region, such as independent businesses, consumers and NGOs. In addition, there is likely to be significant spill-over effects from decisions of a European Energy Community Court operating in the region on the rule of law in general and the accession process in particular.

Le projet de révision du Code minier de la RDC: de l'incitation à la dissuasion? = The draft revision of the Mining Code of the DRC: the incentive to deterrence? Egmont Paper No. 63, January 2014

None.

Hearings on H.R. 10451, Navy nuclear career incentive act, before the Subcommittee on Military Compensation of the Committee on Armed Services, House of Representatives, Ninety-fourth Congress, first session ...

Mode of access: Internet.

Nursing home admissions : the result of an incentive reimbursement experiment /

Cover title.

The effectiveness of federal employee incentive programs : hearing before the Oversight of Government Management, Restructuring, and the District of Columbia Subcommittee of the Committee on Governmental Affairs, United States Senate, One Hundred Sixth Congress, second session, May 2, 2000.

Shipping list no.: 2000-0347-P.

The Work incentive (WIN) program and related experiences : a review of research with policy implications /

Includes bibliographical references (p. 39-46).

A commitment/incentive program to increase safety belt use on a university campus. Final report.

National Highway Traffic Safety Administration, Washington, D.C.

Computer program for incentives (a description of a computer program that generates incentive contracting visibility tools), May 1970.

Mode of access: Internet.