Standards and Incentives under Moral Hazard with Limited Liability

We consider a model of moral hazard with limited liability of the agent and effort that is two-dimensional. One dimension of the agent’s effort is observable and the other is not. The principal can thusmake the contract conditional not only on outcome but also on observable effort. The principal’s optimal contract gives the agent no rent and – in contrast to the first-best allocation – uses toomuch observable effort and too little unobservable effort. This distortion in the relative use of the two kinds of effort increases if the agent’s liability becomes more limited

Standards and Incentives under Moral Hazard with Limited Liability

We consider a model of moral hazard with limited liability of the agent and effort that is two-dimensional. One dimension of the agent’s effort is observable and the other is not. The principal can thusmake the contract conditional not only on outcome but also on observable effort. The principal’s optimal contract gives the agent no rent and – in contrast to the first-best allocation – uses toomuch observable effort and too little unobservable effort. This distortion in the relative use of the two kinds of effort increases if the agent’s liability becomes more limited.moral hazard; two-dimensional effort; regulation

Alien Registration- Branzell-Reinshagen, Karin Maria (Ellsworth, Hancock County)

https://digitalmaine.com/alien_docs/17441/thumbnail.jp

Alien RegistrationSpecial Card- Branzell-Reinshagen, Karin Maria (Ellsworth, Hancock County)

https://digitalmaine.com/alien_cards/1013/thumbnail.jp

Handling the hype: Implications of AI hype for public interest tech projects

Based on theories of expectations of technology and empirical data from expert interviews and case studies, this research article explores how actors in the field of public interest technologies relate to and within the dynamics of AI hype. On an affirmative note, practitioners and experts see the potential that AI hype can serve their own purposes, e.g., through improved funding and support structures. At the same time, public interest tech actors distance themselves from the dynamics of AI hype and criticize it explicitly. Finally, the article discusses how engagement with AI hype and its impact affects society as a whole and, more specifically, society's ability to develop and use technologies in response to societal problems.Auf der Grundlage von Theorien über Erwartungen an Technologien und anhand empirischer Daten aus Expert*inneninterviews und Fallstudien untersucht dieser Forschungsartikel, wie sich Akteur*innen im Bereich der Public-Interest-Technologien im und zum KI-Hype verhalten. Praktiker*innen und Expert*innen sehen einerseits, dass der KI-Hype ihren eigenen Interessen dienen kann, z.B. durch verbesserte Finanzierungs- und Förderstrukturen. Gleichzeitig distanzieren sich Public-Interest-Tech-Akteur*innen von der Dynamik des KI-Hypes und kritisieren ihn ausdrücklich. Abschließend wird im Artikel diskutiert, wie sich die Auseinandersetzung mit dem KI-Hype und dessen Wirkung auf die Gesellschaft insgesamt auswirkt und speziell auf die Fähigkeit der Gesellschaft, Technologien zur Lösung gesellschaftlicher Probleme zu entwickeln und einzusetzen

Shear Viscosity of claylike colloids in computer simulations and experiments

Dense suspensions of small strongly interacting particles are complex systems that are rarely understood on the microscopic level. We investigate properties of dense suspensions and sediments of small spherical Al2O3 particles in a shear cell by means of a combined molecular-dynamics and stochastic rotation dynamics simulation. We study structuring effects and the dependence of the suspension’s viscosity on the shear rate and shear thinning for systems of varying salt concentration and pH value. To show the agreement of our results with experimental data, the relation between the bulk pH value and surface charge of spherical colloidal particles is modeled by Debye-Hückel theory in conjunction with a 2 pK charge regulation model. © 2006 The American Physical Societ

Transforming growth factor-β-induced upregulation of transforming growth factor-β receptor expression in pancreatic regeneration

AbstractThe transforming growth factor-β (TGFβ) signaling pathway is one important player in the regulation of extracellular matrix turnover and cell proliferation in epithelial regeneration. We used cerulein-induced pancreatitis in rats as a model to investigate the regulation of TGFβ receptor type I and type II expression on protein and messenger RNA level during regeneration. In the regenerating pancreas, mRNA levels of TGFβ receptor I and II were significantly increased with a maximum after 2 days. On protein level, expression of TGFβ receptor II was significantly increased after 3–5 days. This elevated expression could be inhibited by neutralizing the endogenous biological activity of TGFβ1 with a specific antibody. In cultured pancreatic epithelial cells, TGFβ1 reduced cell proliferation as measured by [3H]thymidine incorporation. Furthermore the transcript levels of TGFβ1 as well as mRNA and protein concentrations of type I and type II receptor increased during TGFβ stimulation in vitro. These results indicate that epithelial pancreatic cells contribute to the enhanced TGFβ1 synthesis during pancreatic regeneration by an autocrine mechanism. TGFβ1, furthermore, upregulates the expression of its own receptors during the regenerative process, thereby contributing to the increase of the TGFβ-induced cellular responses