37 research outputs found
On ordinal utility, cardinal utility, and random utility
Though the Random Utility Model (RUM) was conceived
entirely in terms of ordinal utility, the apparatus throughwhich it is widely practised exhibits properties of
cardinal utility. The adoption of cardinal utility as a
working operation of ordinal is perfectly valid, provided
interpretations drawn from that operation remain faithful
to ordinal utility. The paper considers whether the latterrequirement holds true for several measurements commonly
derived from RUM. In particular it is found that
measurements of consumer surplus change may depart from
ordinal utility, and exploit the cardinality inherent in
the practical apparatus.
Simulations of the Static Friction Due to Adsorbed Molecules
The static friction between crystalline surfaces separated by a molecularly
thin layer of adsorbed molecules is calculated using molecular dynamics
simulations. These molecules naturally lead to a finite static friction that is
consistent with macroscopic friction laws. Crystalline alignment, sliding
direction, and the number of adsorbed molecules are not controlled in most
experiments and are shown to have little effect on the friction. Temperature,
molecular geometry and interaction potentials can have larger effects on
friction. The observed trends in friction can be understood in terms of a
simple hard sphere model.Comment: 13 pages, 13 figure
Crises and collective socio-economic phenomena: simple models and challenges
Financial and economic history is strewn with bubbles and crashes, booms and
busts, crises and upheavals of all sorts. Understanding the origin of these
events is arguably one of the most important problems in economic theory. In
this paper, we review recent efforts to include heterogeneities and
interactions in models of decision. We argue that the Random Field Ising model
(RFIM) indeed provides a unifying framework to account for many collective
socio-economic phenomena that lead to sudden ruptures and crises. We discuss
different models that can capture potentially destabilising self-referential
feedback loops, induced either by herding, i.e. reference to peers, or
trending, i.e. reference to the past, and account for some of the phenomenology
missing in the standard models. We discuss some empirically testable
predictions of these models, for example robust signatures of RFIM-like herding
effects, or the logarithmic decay of spatial correlations of voting patterns.
One of the most striking result, inspired by statistical physics methods, is
that Adam Smith's invisible hand can badly fail at solving simple coordination
problems. We also insist on the issue of time-scales, that can be extremely
long in some cases, and prevent socially optimal equilibria to be reached. As a
theoretical challenge, the study of so-called "detailed-balance" violating
decision rules is needed to decide whether conclusions based on current models
(that all assume detailed-balance) are indeed robust and generic.Comment: Review paper accepted for a special issue of J Stat Phys; several
minor improvements along reviewers' comment
Prevalence of Frailty in European Emergency Departments (FEED): an international flash mob study
Introduction
Current emergency care systems are not optimized to respond to multiple and complex problems associated with frailty. Services may require reconfiguration to effectively deliver comprehensive frailty care, yet its prevalence and variation are poorly understood. This study primarily determined the prevalence of frailty among older people attending emergency care.
Methods
This cross-sectional study used a flash mob approach to collect observational European emergency care data over a 24-h period (04 July 2023). Sites were identified through the European Task Force for Geriatric Emergency Medicine collaboration and social media. Data were collected for all individuals aged 65 + who attended emergency care, and for all adults aged 18 + at a subset of sites. Variables included demographics, Clinical Frailty Scale (CFS), vital signs, and disposition. European and national frailty prevalence was determined with proportions with each CFS level and with dichotomized CFS 5 + (mild or more severe frailty).
Results
Sixty-two sites in fourteen European countries recruited five thousand seven hundred eighty-five individuals. 40% of 3479 older people had at least mild frailty, with countries ranging from 26 to 51%. They had median age 77 (IQR, 13) years and 53% were female. Across 22 sites observing all adult attenders, older people living with frailty comprised 14%.
Conclusion
40% of older people using European emergency care had CFS 5 + . Frailty prevalence varied widely among European care systems. These differences likely reflected entrance selection and provide windows of opportunity for system configuration and workforce planning