We study a class of trust-based cooperation dilemmas that evolve in continuous time. Characteristic of these dilemmas is that as long as all n players continue to cooperate, their payoffs increase ...monotonically over time. Simultaneously, the temptation to defect increases too, as the first player to defect terminates the interaction and receives the present value of the payoff function whereas each of the other n−1 players only receives a proportion δ (0 > δ > 1) of the defecting player’s payoff. We introduce a novel experimental institution that we call the Real-Time Trust Game (RTTG) to examine this class of interactions. We then report the results from an iterated RTTG in which the values of n and δ are varied in a between-subjects design. In all conditions, cooperation breaks down in the population over iterations of the game. The rate of breakdown sharply increases as n increases and more slowly decreases as δ increases. Copyright Economic Science Association 2006
Understanding what investors value and look for in a financial adviser is critical to both the client's and adviser's success. This research identified the alignment and discordance between what ...non-retired investors value, and what financial advisers think their clients value. These insights show opportunities for advisers to better articulate their value and, in doing so, improve attraction, retention, and promote client satisfaction. Using an online platform, investors were asked to rank a set of 15 adviser attributes from most important to least important. Advisers were asked to rank the same attributes, predicting what they thought investors valued. Results show that both groups recognized that reaching financial goals is a top priority, with notable disagreements on how to achieve this. Investors underestimated the importance of behavioral coaching in helping them stay on course. Advisers underestimated the importance of tax-efficient strategies to their clients.
Identifying investment goals is a critical step in developing a sound financial plan that helps investors reach their objectives. Studies have found that using a goals-based framework in financial ...planning can lead to an increase in wealth for investors and has the potential to strengthen planner-client relationships. As such, more planning professionals are practicing goals-based or goals-centric financial planning. The success of goals-based planning hinges upon two important steps: eliciting goals that are most important to investors; and prioritizing those goals. Yet, behavioral biases may manifest and undermine the efficacy of goal-based financial planning. Here, Sin et al discuss evidence-based tools that financial planners can implement.
Many real-life risky decisions in finance and management are dynamic and decision policies can be adapted as uncertainty is reduced by the arrival of new information. In this type of situation, ...called a real options problem, a decision maker must choose how much of his finite resources to invest in a dynamic risky environment. In two laboratory experiments, we test a well-defined decision problem with the central characteristics of a real options framework and do so in such a way that it is amendable to formal modeling. We find that people choose differently than the expected value maximizing policy, consistent with risk aversion and non-linear probability weighting. We conclude that although real options analysis is useful as a normative valuation method, its recommendations are sometimes contrary to people’s innate tendencies when making risky choices and this counterintuitiveness should be considered when implementing real options analysis in training and practice.
The N‐terminal domain of human apolipoprotein E (apoE‐NT) harbors residues critical for interaction with members of the low‐density lipoprotein receptor (LDLR) family. Whereas lipid free apoE‐NT ...adopts a stable four‐helix bundle conformation, a lipid binding induced conformational adaptation is required for manifestation of LDLR binding ability. To investigate the structural basis for this conformational change, the short helix connecting helix 1 and 2 in the four‐helix bundle was replaced by the sequence NPNG, introducing a β‐turn. Recombinant helix‐to‐turn (HT) variant apoE3‐NT was produced in Escherichia coli, isolated and characterized. Stability studies revealed a denaturation transition midpoint of 1.9 m guanidine hydrochloride for HT apoE3‐NT vs. 2.5 m for wild‐type apoE3‐NT. Wild‐type and HT apoE3‐NT form dimers in solution via an intermolecular disulfide bond. Native PAGE showed that reconstituted high‐density lipoprotein prepared with HT apoE3‐NT have a diameter in the range of 9 nm and possess binding activity for the LDLR on cultured human skin fibroblasts. In phospholipid vesicle solubilization assays, HT apoE3‐NT was more effective than wild‐type apoE3‐NT at inducing a time dependent decrease in dimyristoylphosphatidylglycerol vesicle light scattering intensity. In lipoprotein binding assays, HT apoE3‐NT protected human low‐density lipoprotein from phospholipase C induced aggregation to a greater extent that wild‐type apoE3‐NT. The results indicate that a mutation at one end of the apoE3‐NT four‐helix bundle markedly enhances the lipid binding activity of this protein. In the context of lipoprotein associated full‐length apoE, increased lipid binding affinity of the N‐terminal domain may alter the balance between receptor‐active and ‐inactive conformational states.
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Background: The success of immunotherapy has raised new issues regarding the selection of patients, design of combination strategies, and sequencing of various regimens. Sarcomas ...have poor outcomes in the metastatic setting but may be amenable to immune therapies. However, we currently have limited knowledge of the immunologic profiles of different soft tissue sarcoma (STS) subtypes. Methods: We identified patients with the relatively common STS subtypes: leiomyosarcoma (LMS), undifferentiated pleomorphic sarcoma (UPS), synovial sarcoma (SS) and liposarcoma. Formalin fixed paraffin embedded (FFPE) tumor samples from 81 patients underwent gene expression analysis, immunohistochemistry for PD-1 and PD-L1, and sequencing of the T cell receptor Vβ region. Differences in liposarcoma subsets were also evaluated. Results: UPS and LMS had high expression levels of genes related to antigen presentation and T cell infiltration. UPS had higher levels of PD-L1 (p ≤ 0.001) and PD-1 (p ≤ 0.05) on IHC. UPS also had the highest T cell infiltration based on TCR sequencing, significantly more than SS, which had the lowest (p ≤ 0.05). UPS and LMS both had higher clonality compared with SS and liposarcoma (p ≤ 0.05). A model adjusted for STS histologic subtype found that for all sarcoma T cell infiltration and clonality were highly correlated with PD-1 and PD-L1 staining levels (p ≤ 0.01). Conclusions: In a model adjusted for sarcoma histologic subtypes, T cell infiltration and clonality were highly correlated with PD-1 and PD-L1 expression, consistent with the emerging view of tumor immunity that highly inflamed tumors acquire inhibitory ligands to evade tumor-specific T cells. UPS, which is a more highly mutated STS subtype, provokes a strong immune response evidenced by multiple inflammatory features suggesting that it may be well-suited to checkpoint inhibitor based approaches. SS and liposarcoma subsets are less highly mutated but do express immunogenic self-antigens therefore strategies to improve antigen presentation and T cell infiltration may be valuable for allowing immunotherapeutic success in these tumor types.
We consider mixed populations (N 1/4 21) of genuine (humans) and arti.cial (robots)
agents repeatedly interacting in small groups whose composition is changed randomly
from round to round. Our ...purpose is to study the spread of cooperative or
non-cooperative behavior over time in populations playing a 3-person centipede game
by manipulating the behavior of the robots (cooperative vs. noncooperative) and
their proportion in the population. Our results convey a positive message: adding a
handful of cooperative robots increases the propensity of the genuine subjects to
cooperate over time, whereas adding a handful of non-cooperative agents does not
decrease this propensity. If there are enough hard-core cooperative subjects in the
population, they not only negate the behavior of the non-cooperative robots but also
induce other subjects to behave more cooperatively.
Measuring social value orientation Ryan O. Murphy; Kurt A. Ackerman; Michel J. J. Handgraaf
Judgment and decision making,
12/2011, Letnik:
6, Številka:
8
Journal Article
Recenzirano
Odprti dostop
Narrow self-interest is often used as a simplifying assumption when studying people making decisions in social contexts. Nonetheless, people exhibit a wide range of different motivations when ...choosing unilaterally among interdependent outcomes. Measuring the magnitude of the concern people have for others, sometimes called Social Value Orientation (SVO), has been an interest of many social scientists for decades and several different measurement methods have been developed so far. Here we introduce a new measure of SVO that has several advantages over existent methods. A detailed description of the new measurement method is presented, along with norming data that provide evidence of its solid psychometric properties. We conclude with a brief discussion of the research streams that would benefit from a more sensitive and higher resolution measure of SVO, and extend an invitation to others to use this new measure which is freely available.
Celotno besedilo
Dostopno za:
CEKLJ, DOBA, IZUM, KILJ, NUK, PILJ, PNG, SAZU, UILJ, UKNU, UL, UM, UPUK
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