Dynamic Pricing in the Presence of Social Learning and Strategic Consumers

When a product of uncertain quality is first introduced, consumers may choose to strategically delay their purchasing decisions in anticipation of the product reviews of their peers. This paper investigates how the presence of social learning affects the strategic interaction between a dynamic-pricing monopolist and a forward-looking consumer population, within a simple two-period model. Our analysis yields three main insights. First, we find that the presence of social learning has significant structural implications for optimal pricing policies: In the absence of social learning, decreasing price plans are always preferred by the firm; by contrast, in the presence of social learning we find that (i) if the firm commits to a price path ex ante (preannounced pricing), an increasing price plan is typically announced, whereas (ii) if the firm adjusts price dynamically (responsive pricing), prices are initially low and may either rise or decline over time. Second, we establish that under both preannounced and responsive pricing, even though the social learning process exacerbates strategic consumer behavior (i.e., increases strategic purchasing delays), its presence results in an increase in expected firm profit. Third, we illustrate that, contrary to results reported in existing literature on strategic consumer behavior, in settings where social learning is significantly influential, preannounced pricing policies are generally not beneficial for the firm

Slip or not slip? A methodical examination of the interface formation model using two-dimensional droplet spreading on a horizontal planar substrate as a prototype system

We consider the spreading of a thin two-dimensional droplet on a planar substrate as a prototype system to compare the contemporary model for contact line motion based on interface formation of Shikhmurzaev [Int. J. Multiphas. Flow 19, 589 (1993)], to the more commonly used continuum fluid dynamical equations augmented with the Navier-slip condition. Considering quasistatic droplet evolution and using the method of matched asymptotics, we find that the evolution of the droplet radius using the interface formation model reduces to an equivalent expression for a slip model, where the prescribed microscopic dynamic contact angle has a velocity dependent correction to its static value. This result is found for both the original interface formation model formulation and for a more recent version, where mass transfer from bulk to surface layers is accounted for through the boundary conditions. Various features of the model, such as the pressure behaviour and rolling motion at the contact line, and their relevance, are also considered in the prototype system we adopt.Comment: 45 pages, 18 figure

Crowdsourcing Exploration

Motivated by the proliferation of online platforms that collect and disseminate consumers' experiences with alternative substitutable products/services, we investigate the problem of optimal information provision when the goal is to maximize aggregate consumer surplus. We develop a decentralized multi-armed bandit framework where a forward-looking principal (the platform designer) commits upfront to a policy that dynamically discloses information regarding the history of outcomes to a series of short-lived rational agents (the consumers). We demonstrate that consumer surplus is non-monotone in the accuracy of the designer's information-provision policy. Because consumers are constantly in "exploitation" mode, policies that disclose accurate information on past outcomes suffer from inadequate "exploration." We illustrate how the designer can (partially) alleviate this inefficiency by employing a policy that strategically obfuscates the information in the platform's possession -- interestingly, such a policy is beneficial despite the fact that consumers are aware of both the designer's objective and the precise way by which information is being disclosed to them. More generally, we show that the optimal information-provision policy can be obtained as the solution of a large-scale linear program. Noting that such a solution is typically intractable, we use our structural findings to design an intuitive heuristic that underscores the value of information obfuscation in decentralized learning. We further highlight that obfuscation remains beneficial even if the designer can directly incentivize consumers to explore through monetary payments

Seasonal dynamics of native and invasive Halophila stipulacea populations—A case study from the northern Gulf of Aqaba and the eastern Mediterranean Sea

No embargo required, pre-print. Full version requires 24 month embarg

Functional and emotional outcomes after transient ischaemic attack: A 12-month prospective controlled cohort study

Background: Symptoms of transient ischemic attack are believed to fully resolve within 24 h of onset. Emerging evidence suggests that there may be prolonged functional and psychological impact, although studies have not been able to robustly identify whether these are the effect of transient ischemic attack or changes usually associated with ageing. We describe trajectories of disability and risk of anxiety and depression among patients seen at transient ischemic attack clinics over 12 months, compared to healthy controls. Methods: Thirty transient ischemic attack clinics across England participated. A total of 1320 participants were included: 373 diagnosed with transient ischemic attack, 186 with minor stroke, 310 with “possible transient ischemic attack,” 213 with another condition mimicking a transient ischemic attack and 238 controls recruited from primary care providers. Participants completed questionnaires after diagnosis then after 3, 6 and 12 months. Outcomes were the Nottingham Extended Activities of Daily Living Scale and the Hospital Anxiety and Depression Scale. Mixed effects regression was used to estimate group differences and trajectories. Results: At baseline, confirmed transient ischemic attack patients scored 1.31 HADS-Anxiety points (s.e. = 0.28; p < 0.001), 0.51 HADS-Depression points (s.e. = 0.26; p = 0.056), and 2.6 NEADL points (s.e. = 1.1; p = 0.020) worse than controls. At 12 months, the deficits were 0.78 (s.e. = 0.30; p = 0.008), 0.97 (s.e. = 0.23; p < 0.001), and 0.96 (s.e. = 0.92; p = 0.294) respectively. Differences among patients diagnosed with minor stroke were like or worse than transient ischemic attack patients. Conclusions: Transient ischemic attack clinic patients may have functional and emotional impairments compared to the general population irrespective of final diagnosis. The presence of emotional symptoms or risk of developing anxiety or depression did not always fully recover and may increase

Structural insights into Clostridium perfringens delta toxin pore formation

Clostridium perfringens Delta toxin is one of the three hemolysin-like proteins produced by C. perfringens type C and possibly type B strains. One of the others, NetB, has been shown to be the major cause of Avian Nectrotic Enteritis, which following the reduction in use of antibiotics as growth promoters, has become an emerging disease of industrial poultry. Delta toxin itself is cytotoxic to the wide range of human and animal macrophages and platelets that present GM2 ganglioside on their membranes. It has sequence similarity with Staphylococcus aureus β-pore forming toxins and is expected to heptamerize and form pores in the lipid bilayer of host cell membranes. Nevertheless, its exact mode of action remains undetermined. Here we report the 2.4 Å crystal structure of monomeric Delta toxin. The superposition of this structure with the structure of the phospholipid-bound F component of S. aureus leucocidin (LukF) revealed that the glycerol molecules bound to Delta toxin and the phospholipids in LukF are accommodated in the same hydrophobic clefts, corresponding to where the toxin is expected to latch onto the membrane, though the binding sites show significant differences. From structure-based sequence alignment with the known structure of staphylococcal α-hemolysin, a model of the Delta toxin pore form has been built. Using electron microscopy, we have validated our model and characterized the Delta toxin pore on liposomes. These results highlight both similarities and differences in the mechanism of Delta toxin (and by extension NetB) cytotoxicity from that of the staphylococcal pore-forming toxins

COL4A5 and LAMA5 variants co-inherited in familial hematuria: Digenic inheritance or genetic modifier effect?

Background: About 40-50% of patients with familial microscopic hematuria (FMH) caused by thin basement membrane nephropathy (TBMN) inherit heterozygous mutations in collagen IV genes (COL4A3, COL4A4). On long follow-up, the full phenotypic spectrum of these patients varies a lot, ranging from isolated MH or MH plus low-grade proteinuria to chronic renal failure of variable degree, including end-stage renal disease (ESRD). Methods: Here, we performed Whole Exome Sequencing (WES) in patients of six families, presenting with autosomal dominant FMH, with or without progression to proteinuria and loss of renal function, all previously found negative for severe collagen IV mutations. Hierarchical filtering of the WES data was performed, followed by mutation prediction analysis, Sanger sequencing and genetic segregation analysis. Results: In one family with four patients, we found evidence for the contribution of two co-inherited variants in two crucial genes expressed in the glomerular basement membrane (GBM); LAMA5-p.Pro1243Leu and COL4A5-p.Asp654Tyr. Mutations in COL4A5 cause classical X-linked Alport Syndrome, while rare mutations in the LAMA5 have been reported in patients with focal segmental glomerulosclerosis. The phenotypic spectrum of the patients includes hematuria, proteinuria, focal segmental glomerulosclerosis, loss of kidney function and renal cortical cysts. Conclusions: A modifier role of LAMA5 on the background of a hypomorphic Alport syndrome causing mutation is a possible explanation of our findings. Digenic inheritance is another scenario, following the concept that mutations at both loci more accurately explain the spectrum of symptoms, but further investigation is needed under this concept. This is the third report linking a LAMA5 variant with human renal disease and expanding the spectrum of genes involved in glomerular pathologies accompanied by familial hematurias. The cystic phenotype overlaps with that of a mouse model, which carried a Lama5 hypomorphic mutation that caused severely reduced Lama5 protein levels and produced kidney cysts. 2018 The Author(s).The work was supported from the Cyprus Research Promotion Foundation through the grant NEW INFRASTRUCTURE/STRATEGIC/0308/24 to CD (co-funded by the European Regional Development Fund and the Republic of Cyprus). The funding body did not contribute to the design of study, collection, analysis and interpretation of data, or in manuscript writing.Scopu

GRAB: A Dataset of Whole-Body Human Grasping of Objects

Training computers to understand, model, and synthesize human grasping requires a rich dataset containing complex 3D object shapes, detailed contact information, hand pose and shape, and the 3D body motion over time. While "grasping" is commonly thought of as a single hand stably lifting an object, we capture the motion of the entire body and adopt the generalized notion of "whole-body grasps". Thus, we collect a new dataset, called GRAB (GRasping Actions with Bodies), of whole-body grasps, containing full 3D shape and pose sequences of 10 subjects interacting with 51 everyday objects of varying shape and size. Given MoCap markers, we fit the full 3D body shape and pose, including the articulated face and hands, as well as the 3D object pose. This gives detailed 3D meshes over time, from which we compute contact between the body and object. This is a unique dataset, that goes well beyond existing ones for modeling and understanding how humans grasp and manipulate objects, how their full body is involved, and how interaction varies with the task. We illustrate the practical value of GRAB with an example application; we train GrabNet, a conditional generative network, to predict 3D hand grasps for unseen 3D object shapes. The dataset and code are available for research purposes at https://grab.is.tue.mpg.de.Comment: ECCV 202

Percentile reference values for anthropometric body composition indices in European children from the IDEFICS study

INTRODUCTION: To characterise the nutritional status in children with obesity or wasting conditions, European anthropometric reference values for body composition measures beyond the body mass index (BMI) are needed. Differentiated assessment of body composition in children has long been hampered by the lack of appropriate references. OBJECTIVES: The aim of our study is to provide percentiles for body composition indices in normal weight European children, based on the IDEFICS cohort (Identification and prevention of Dietary-and lifestyle-induced health Effects in Children and infantS). METHODS: Overall 18 745 2.0-10.9-year-old children from eight countries participated in the study. Children classified as overweight/obese or underweight according to IOTF (N = 5915) were excluded from the analysis. Anthropometric measurements (BMI (N = 12 830); triceps, subscapular, fat mass and fat mass index (N = 11 845-11 901); biceps, suprailiac skinfolds, sum of skinfolds calculated from skinfold thicknesses (N = 8129-8205), neck circumference (N = 12 241); waist circumference and waist-to-height ratio (N = 12 381)) were analysed stratified by sex and smoothed 1st, 3rd, 10th, 25th, 50th, 75th, 90th, 97th and 99th percentile curves were calculated using GAMLSS. RESULTS: Percentile values of the most important anthropometric measures related to the degree of adiposity are depicted for European girls and boys. Age-and sex-specific differences were investigated for all measures. As an example, the 50th and 99th percentile values of waist circumference ranged from 50.7-59.2 cm and from 51.3-58.7 cm in 4.5-to < 5.0-year-old girls and boys, respectively, to 60.6-74.5 cm in girls and to 59.9-76.7 cm in boys at the age of 10.5-10.9 years. CONCLUSION: The presented percentile curves may aid a differentiated assessment of total and abdominal adiposity in European children