A cybernetic decision model of market entry

This article analyzes a firm's decision of entering a new market - or staying outside - and considers five decision models - optimizing, satisficing, incremental, cybernetic, and random - and their domain of applicability in order to discuss how fit they are in describing this specific decision. Because the cybernetic decision strategy appears to be the most appropriate to deal with the entry decision, the work goes deeper into this model focusing on the degree of uncertainty that the environment represents to the decision makers and to the state of the conflict of interest that arises because this decision implies a coordination problem

Innovation and stock market performance : A model with ambiguity-averse agents

Empirical evidence on stock prices shows that firms investing successfully in radical innovation experience higher stock returns. This paper provides a model that sheds light on the relationship between the degree of firm innovativeness and stock returns, the movements of which capture expectations on firm\u2019s profitability and growth. The model is grounding on Neo-Schumpeterian growth models and relies on the crucial assumption of radical innovation, characterized by \u201cambiguity\u201d or Knightian uncertainty: due to its uniqueness and originality, no distribution of probability can be reasonably associated with radical innovation success or failure. Different preferences (\u3b1-maxmin, Choquet) are here compared. Results show that the assumption of ambiguity-aversion is crucial in determining higher returns in the presence of radical innovation and that the specific definition of expected utility shapes the extent of the returns. This result holds also in the case of endogenous innovation; risk attitude plays no role

Peer effects on compliance with extortive requests

We conduct laboratory experiments to study peer effects on compliance with extortive requests. To this aim, we use an \u201cextortion game\u201d with multiple victims. In agreement with our hypothesis, our results show that when the information on peers\u2019 behavior is available, compliance with appropriative requests is triggered by conformism among victims rather than by punishment. Moreover, we find that extorted sums are rather small, requests are proportional to the victim\u2019s earnings, similar across victims, and are significantly lower when the extorter self-selects into this role. Punishment is rare, but effective. Finally, our results indicate that fairness concerns matter even in a context of extra-legal taxation, shaping both extorters\u2019 requests and victims\u2019 compliance

Economics Perspectives on the Entrepreneurial Decision

The pervasiveness of the entrepreneurial phenomenon draws scholars' attention to what determines the decision to become an entrepreneur. Entrepreneurial decisions imply judgemental decisions. Different approaches in economics conceive such judgemental decisions as firm entry, or real investment in the creation of a new business, or making a career choice in favour of a particular type of self-employment. In this paper, the literature on entrepreneurs' features, motives, and markets is enriched with theoretical and empirical results from industrial organization, financial economics, and labour economics. \ua9 2012 Copyright International Journal of the Economics of Business

Compartmentalized control of Cdk1 drives mitotic spindle assembly

During cell division, dramatic microtubular rearrangements driven by cyclin B-cdk1 (Cdk1) kinase activity mark the onset of mitosis leading to dismantling of the interphase microtubular cytoskeleton and assembly of the mitotic spindle. During interphase, Cdk1 accumulates in an inactive state, phosphorylated at inhibitory sites by Wee1/Myt1 kinases. At mitosis onset, Cdc25 phosphatase dephosphorylates and activates Cdk1. Once activated, Cdk1 clears cytoplasmic microtubules by inhibiting microtubule-stabilizing and growth-promoting microtubule-associated proteins (MAPs). Nevertheless, some of these MAPs are required for spindle microtubule growth and spindle assembly, creating quite a conundrum. We show here that a Cdk1 fraction bound to spindle structures escapes Cdc25 action and remains inhibited by phosphorylation (i-Cdk1) in mitotic human cells. Loss or restoration of i-Cdk1 inhibits or promotes spindle assembly, respectively. Furthermore, polymerizing spindle microtubules foster i-Cdk1 aggregating with Wee1 and excluding Cdc25. Our data reveal that spindle assembly relies on compartmentalized control of Cdk1 activity

Robust Batch Process Scheduling in Pharmaceutical Industries: A Case Study

none4openT Adamo, G Ghiani, AD Grieco, E GuerrieroAdamo, T; Ghiani, G; Grieco, Ad; Guerriero,

Biophysical and biochemical characterization of a liposarcoma-derived recombinant MnSOD protein acting as an anticancer agent

A recombinant MnSOD (rMnSOD) synthesized by specific cDNA clones derived from a liposarcoma cell line was shown to have the same sequence as the wild-type MnSOD expressed in the human myeloid leukaemia cell line U937, except for the presence of the leader peptide at the N-terminus. These results were fully confirmed by the molecular mass of rMnSOD as evaluated by ES/MS analysis (26662.7 Da) and the nucleotide sequence of the MnSOD cDNA. The role of the leader peptide in rMnSOD was investigated using a fluorescent and/or 68Gallium-labelled synthetic peptide. The labelled peptide permeated MCF-7 cells and uptake could be inhibited in the presence of an excess of oestrogen. In vivo it was taken up by the tumour, suggesting that the molecule can be used for both therapy and diagnosis. The in vitro and in vivo pharmacology tests confirmed that rMnSOD is only oncotoxic for tumour cells expressing oestrogen receptors. Pharmacokinetic studies in animals performed with 125I- and 131I-labelled proteins confirmed that, when administered systemically, rMnSOD selectively reached the tumour, where its presence was unambiguously demonstrated by scintigraphic and PET scans. PCR analysis revealed that Bax gene expression was increased and the Bcl2 gene was down regulated in MCF7 cells treated with rMnSOD, which suggests that the protein induces a pro-apoptotic mechanism

Cooperation and leadership in a segregated community : evidence from a lab-in-the-field experiment in a South African township

The paper presents the results of a lab-in-the-field experiment in three South African townships located in the suburbs of Cape Town. The experimental design consists of a set of decisions on how the members of a naturally occurring group allocate an endowment to a private or to a public account. In our treatments, we first manipulate the degree of participation of group members in the choice of the public good, from involvement of the group leader only, to collective discussion and to private voting. Additionally, we explore the effectiveness of monetary incentives (collective versus individual) set in order to promote participation. The results show that leader guidance and participatory incentives significantly raise cooperation and hold after controlling for a wide set of individual and group characteristics