Efficiency of competition in insurance markets with adverse selection

There is a general presumption that competition is a good thing. In this paper we show that competition in the insurance markets can be bad when there is adverse selection. Using the dual theory of choice under risk, we are able to fully characterize both the competitive and the monopoly market outcomes. When there are two types of risk, the monopoly dominates competition if and only if competition leads to market unravelling. When there are a continuum of types the efficiency of competition is less trivial. In effect monopoly is shown to provide better insurance but at the cost of driving out some agents from the market. Performing simulation for different distributions of risk, we find that monopoly in general performs (much) better than competition in terms of the realization of the gains from trade across all traders in equilibrium. The reason is that the monopolist can exploit its market power to relax the incentive constraints

Is Competition for FDI Bad for Regional Welfare?

We investigate the impact on regional welfare of policy competition for FDI when a multinational firm can strategically react to differences in statutory corporate tax rates and shift taxable profits to lower-tax jurisdictions. We show that competing governments may have an incentive to tax discriminate between domestic and multinational firms even in the presence of profit shifting opportunities for the latter. In particular, tax competition leads to higher welfare for the region as a whole than lump-sum subsidy competition when the difference in statutory corporate tax rates and/or their average is high enough. We also find that policy competition increases regional welfare by changing the firm's investment decision when profit shifting motivations might induce the firm to locate in the least profitable country.

Comparison of dogs treated for primary immune-mediated hemolytic anemia in Tuscany, Italy and Texas, USA

This retrospective study compared clinical characteristics between dogs treated for IMHA by veterinary teaching hospitals in Tuscany, Italy and Texas, USA between 2010 and 2018

In vitro cultured progenitors and precursors of cardiac cell lineages from human normal and post-ischemic hearts.

The demonstration of the presence of dividing primitive cells in damaged hearts has sparked increased interest about myocardium regenerative processes. We examined the rate and the differentiation of in vitro cultured resident cardiac primitive cells obtained from pathological and normal human hearts in order to evaluate the activation of progenitors and precursors of cardiac cell lineages in post-ischemic human hearts. The precursors and progenitors of cardiomyocyte, smooth muscle and endothelial lineage were identified by immunocytochemistry and the expression of characteristic markers was studied by western blot and RT-PCR.The amount of proteins characteristic for cardiac cells (alpha-SA and MHC, VEGFR-2 and FVIII, SMA for the precursors of cardiomyocytes, endothelial and smooth muscle cells, respectively) inclines toward an increase in both alpha-SA and MHC. The increased levels of FVIII and VEGFR2 are statistically significant, suggesting an important re-activation of neoangiogenesis. At the same time, the augmented expression of mRNA for Nkx 2.5, the trascriptional factor for cardiomyocyte differentiation, confirms the persistence of differentiative processes in terminally injured hearts. Our study would appear to confirm the activation of human heart regeneration potential in pathological conditions and the ability of its primitive cells to maintain their proliferative capability in vitro. The cardiac cell isolation method we used could be useful in the future for studying modifications to the microenvironment that positively influence cardiac primitive cell differentiation or inhibit, or retard, the pathological remodeling and functional degradation of the heart

A Model for QCD at High Density and Large Quark Mass

We study the high density region of QCD within an effective model obtained in the frame of the hopping parameter expansion and choosing Polyakov type of loops as the main dynamical variables representing the fermionic matter. To get a first idea of the phase structure, the model is analyzed in strong coupling expansion and using a mean field approximation. In numerical simulations, the model still shows the so-called sign problem, a difficulty peculiar to non-zero chemical potential, but it permits the development of algorithms which ensure a good overlap of the Monte Carlo ensemble with the true one. We review the main features of the model and present calculations concerning the dependence of various observables on the chemical potential and on the temperature, in particular of the charge density and the diquark susceptibility, which may be used to characterize the various phases expected at high baryonic density. We obtain in this way information about the phase structure of the model and the corresponding phase transitions and cross over regions, which can be considered as hints for the behaviour of non-zero density QCD.Comment: 21 pages, 29 figure

Role of PET gamma detection in radioguided surgery: a systematic review

Purpose This systematic review aimed to collect published studies concerning intraoperative gamma detection of positronemitting tracers for radioguided surgery (RGS) applications. Methods A systematic literature search of studies published until October 2022 was performed in Pubmed, Web Of Science, Central (Cochrane Library) and Scopus databases, including the following keywords: “Positron Emission Tomography” OR “PET” AND “Gamma” OR “γ” AND “Probe” AND “Radioguided Surgery” OR “RGS”. The included studies had to concern RGS procedures performed in at least 3 patients, regardless of the administered radiopharmaceutical and the field of application. Results Among to the 17 selected studies, all published between 2000 and 2022, only 2 investigations were conducted with gallium-68 (68Ga)-labeled somatostatin analogues, with fluorine-18-fluoro-2-deoxyglucose ([ 18F]FDG) being the most commonly used agent for RGS applications. Almost all studies were performed in oncologic patients, with only one paper also including inflammatory and infectious findings. The analysis showed that the largest part of procedures was performed through the intraoperative use of conventional gamma probes, not specifically designed for the detection of annihilation photons (n = 9), followed by PET gamma probes (n = 5) and with only three studies involving electronic collimation. Conclusions Regardless of the intraoperative devices, RGS with positron emitters seems to lead to significant improvements in surgeons’ ability to obtain a complete resection of tumors, even if the nature of photons resulting from positron–electron collision still remains extremely challenging and requires further technical advances

Basil essential oil: Composition, antimicrobial properties, and microencapsulation to produce active chitosan films for food packaging

The essential oil (EO) from basil—Ocimum basilicum—was characterized, microencapsu-lated by vibration technology, and used to prepare a new type of packaging system designed to extend the food shelf life. The basil essential oil (BEO) chemical composition and antimicrobial activity were analyzed, as well as the morphological and biological properties of the derived BEO microcapsules (BEOMC). Analysis of BEO by gas chromatography demonstrated that the main component was linalool, whereas the study of its antimicrobial activity showed a significant inhibitory effect against all the microorganisms tested, mostly Gram-positive bacteria. Moreover, the prepared BEOMC showed a spheroidal shape and retained the EO antimicrobial activity. Finally, chitosan-based edible films were produced, grafted with BEOMC, and characterized for their physicochemical and biological properties. Since their effective antimicrobial activity was demonstrated, these films were tested as packaging system by wrapping cooked ham samples during 10 days of storage, with the aim of their possible use to extend the shelf life of the product. It was demonstrated that the obtained active film can both control the bacterial growth of the cooked ham and markedly inhibit the pH increase of the packaged food

Evaluation of Clinico-Pathological Alterations Including Some Leukocyte Ratios and Survival Rate in Dogs with IMHA Transfused and Not Transfused: A Retrospective Study

Immune-mediated hemolytic anaemia (IMHA) is a common hematological disorder in dogs. It can be primary or secondary and it is characterized by anti-RBC antibodies production. IMHA requires a detailed diagnostic pathway as well as a complex therapeutic approach that can include blood transfusion. Unfortunately, IMHA presents a high mortality rate, especially within 15 days after onset. This retrospective study evaluated: a) the clinical and clinico-pathological alterations that influenced the choice to perform a blood transfusion in an IMHA patient; b) if blood transfusion could be an additional therapeutic approach; c) application of leukocyte ratios in the prognosis. Sixty-seven cases of IMHA, both primary and secondary, admitted to the Veterinary Teaching Hospital between May 2010 and July 2018, were included. Signalment, history, clinical signs, clinico-pathological parameters and survival rate were collected. Patients were divided in two groups: 44 patients (IMHAnt) treated with immunosuppressive therapy alone (primary n=36, secondary n=8) and 23 patients (IMHAt), which received also a blood transfusion (primarily packed RBC) (primary n=16, secondary n=6). For all collected parameters, both groups were statistically compared. The IMHAt patients compared to IMHAnt patients (un-regarding to primary or secondary cause) presented: worse marks according to Tokyo Score System (TSS) (Chi Squared, p=0.003); a lower erythrocyte count (T-test, p=0.039), hemoglobin concentration (T-test, p=0.029) and platelet count (Mann-Withney, M-W, p=0.008); a higher value of band neutrophils (M-W, p=0.022), band neutrophil to lymphocyte ratio (M-W, p=0.005), (band neutrophil/neutrophil) to lymphocyte ratio (M-W, p=0.006) and a lower value of lymphocyte to monocyte ratio (M-W, p=0.013); a higher value of C-reactive protein (M-W, p=0.011) and activated partial thromboplastin time (M-W, p=0.014); and a lower survival rate at day 120 (Kaplan-Meyer, logrank, p=0.004) and not at 7, 15 and 30 days. Blood transfusions were performed based on the severity of clinical and clinico-pathological signs. IMHAt patients showed a more severe disease (according to TSS), a greater acute inflammatory condition and more coagulative defects. The high death rate among IMHAt patients at 120 days was related to their critical condition, which is probably why the desired benefit of blood transfusion wasn’t reached. However, a link between blood transfusions and the related worse clinical signs in IMHAt patients could not be ruled-out. Finally, the leukocyte ratios in dogs affected by IMHA were assessed for the first time so far and they were proven to be useful markers of acute inflammation and could have a prognostic value