Intelligent agents in electronic markets for information goods: customization, preference revelation and pricing

Electronic commerce has enabled the use of intelligent agent technologies that can evaluate buyers, customize products, and price in real-time. Our model of an electronic market with customizable products analyzes the pricing, profitability and welfare implications of agent-based technologies that price dynamically based on product preference information revealed by consumers. We find that in making the trade-off between better prices and better customization, consumers invariably choose less-than-ideal products. Furthermore, this trade-off has a higher impact on buyers on the higher end of the market and causes a transfer of consumer surplus towards buyers with a lower willingness to pay. As buyers adjust their product choices in response to better demand agent technologies, seller revenues decrease since the gains from better buyer information are dominated by the lowering of the total value created from the transactions. We study the strategic and welfare implications of these findings, and discuss managerial and technology development guidelines.NYU, Stern School of Business, IOMS Department, Center for Digital Economy Researc

Intelligent agents in electronic markets for information goods: customization, preference revelation and pricing

Electronic commerce has enabled the use of intelligent agent technologies that can evaluate buyers, customize products, and price in real-time. Our model of an electronic market with customizable products analyzes the pricing, profitability and welfare implications of agent-based technologies that price dynamically based on product preference information revealed by consumers. We find that in making the trade-off between better prices and better customization, consumers invariably choose less-than-ideal products. Furthermore, this trade-off has a higher impact on buyers on the higher end of the market and causes a transfer of consumer surplus towards buyers with a lower willingness to pay. As buyers adjust their product choices in response to better demand agent technologies, seller revenues decrease since the gains from better buyer information are dominated by the lowering of the total value created from the transactions. We study the strategic and welfare implications of these findings, and discuss managerial and technology development guidelines.NYU, Stern School of Business, IOMS Department, Center for Digital Economy Researc

Oral Bacterial Infection and Shedding in <i>Drosophila Melanogaster</i>

International audienceThe fruit fly Drosophila melanogaster is one of the best developed model systems of infection and innate immunity. While most work has focused on systemic infections, there has been a recent increase of interest in the mechanisms of gut immunocompetence to pathogens, which require methods to orally infect flies. Here we present a protocol to orally expose individual flies to an opportunistic bacterial pathogen (Pseudomonas aeruginosa) and a natural bacterial pathogen of D. melanogaster (Pseudomonas entomophila). The goal of this protocol is to provide a robust method to expose male and female flies to these pathogens. We provide representative results showing survival phenotypes, microbe loads, and bacterial shedding, which is relevant for the study of heterogeneity in pathogen transmission. Finally, we confirm that Dcy mutants (lacking the protective peritrophic matrix in the gut epithelium) and Relish mutants (lacking a functional immune deficiency (IMD) pathway), show increased susceptibility to bacterial oral infection. This protocol, therefore, describes a robust method to infect flies using the oral route of infection, which can be extended to the study of a variety genetic and environmental sources of variation in gut infection outcomes and bacterial transmission

Optimization of Drilling Rig Hydraulics in Drilling Operations Using Soft Computing Techniques

The primary goal for all oil and gas producing companies is to produce oil as much as possible by optimization with lower cost. One way to increase the productivity index is essentially related to a proper drilling technique. In this study, optimization of drilling rig hydraulics in drilling operations was performed using soft computing techniques. Data such as flow rate, the angle of inclination, yield point, plastic viscosity and depth of the well were used as input. Thus, using the neural network (ANN) approach, five process parameters are the inputs to the model and output from this model is cutting concentration. The best model for the drilling rig contains five input parameters, seven hidden layers and one output parameter. The optimization aids the inherent characteristics of the system as well as the factors like exorbitant surface torque, unexplained drop in the rate of infiltration and a sudden change in surface weigh

Modern paradigms for prostate cancer detection and management

Early detection and management of prostate cancer has evolved over the past decade, with a focus now on harm minimisation and reducing overdiagnosis and overtreatment, given the proven improvements in survival from randomised controlled trials. Multiparametric magnetic resonance imaging (mpMRI) is now an important aspect of the diagnostic pathway in prostate cancer, improving the detection of clinically significant prostate cancer, enabling accurate localisation of appropriate sites to biopsy, and reducing unnecessary biopsies in most patients with normal magnetic resonance imaging scans. Biopsies are now performed transperineally, substantially reducing the risk of post-procedure sepsis. Australian-led research has shown that prostate-specific membrane antigen (PSMA) positron emission tomography/computed tomography (PET/CT) has superior accuracy in the staging of prostate cancer than conventional imaging (CT and whole-body bone scan). Localised prostate cancer that is low risk (International Society for Urological Pathology [ISUP] grade 1, Gleason score 3 + 3 = 6; and ISUP grade group 2, Gleason score 3 + 4 = 7 with less than 10% pattern 4) can be offered active surveillance, reducing harms from overtreatment. Prostatectomy and definitive radiation remain the gold standard for localised intermediate and high risk disease. However, focal therapy is an emerging experimental treatment modality in Australia in carefully selected patients. The management of advanced prostate cancer treatment has evolved to now include several novel agents both in the metastatic hormone-sensitive and castration-resistant disease settings. Multimodal therapy with androgen deprivation therapy, additional systemic therapy and radiotherapy are often recommended. PSMA-based radioligand therapy has emerged as a treatment option for metastatic castration-resistant prostate cancer and is currently being evaluated in earlier disease states

Albiglutide and cardiovascular outcomes in patients with type 2 diabetes and cardiovascular disease (Harmony Outcomes): a double-blind, randomised placebo-controlled trial

Background: Glucagon-like peptide 1 receptor agonists differ in chemical structure, duration of action, and in their effects on clinical outcomes. The cardiovascular effects of once-weekly albiglutide in type 2 diabetes are unknown. We aimed to determine the safety and efficacy of albiglutide in preventing cardiovascular death, myocardial infarction, or stroke. Methods: We did a double-blind, randomised, placebo-controlled trial in 610 sites across 28 countries. We randomly assigned patients aged 40 years and older with type 2 diabetes and cardiovascular disease (at a 1:1 ratio) to groups that either received a subcutaneous injection of albiglutide (30–50 mg, based on glycaemic response and tolerability) or of a matched volume of placebo once a week, in addition to their standard care. Investigators used an interactive voice or web response system to obtain treatment assignment, and patients and all study investigators were masked to their treatment allocation. We hypothesised that albiglutide would be non-inferior to placebo for the primary outcome of the first occurrence of cardiovascular death, myocardial infarction, or stroke, which was assessed in the intention-to-treat population. If non-inferiority was confirmed by an upper limit of the 95% CI for a hazard ratio of less than 1·30, closed testing for superiority was prespecified. This study is registered with ClinicalTrials.gov, number NCT02465515. Findings: Patients were screened between July 1, 2015, and Nov 24, 2016. 10 793 patients were screened and 9463 participants were enrolled and randomly assigned to groups: 4731 patients were assigned to receive albiglutide and 4732 patients to receive placebo. On Nov 8, 2017, it was determined that 611 primary endpoints and a median follow-up of at least 1·5 years had accrued, and participants returned for a final visit and discontinuation from study treatment; the last patient visit was on March 12, 2018. These 9463 patients, the intention-to-treat population, were evaluated for a median duration of 1·6 years and were assessed for the primary outcome. The primary composite outcome occurred in 338 (7%) of 4731 patients at an incidence rate of 4·6 events per 100 person-years in the albiglutide group and in 428 (9%) of 4732 patients at an incidence rate of 5·9 events per 100 person-years in the placebo group (hazard ratio 0·78, 95% CI 0·68–0·90), which indicated that albiglutide was superior to placebo (p&lt;0·0001 for non-inferiority; p=0·0006 for superiority). The incidence of acute pancreatitis (ten patients in the albiglutide group and seven patients in the placebo group), pancreatic cancer (six patients in the albiglutide group and five patients in the placebo group), medullary thyroid carcinoma (zero patients in both groups), and other serious adverse events did not differ between the two groups. There were three (&lt;1%) deaths in the placebo group that were assessed by investigators, who were masked to study drug assignment, to be treatment-related and two (&lt;1%) deaths in the albiglutide group. Interpretation: In patients with type 2 diabetes and cardiovascular disease, albiglutide was superior to placebo with respect to major adverse cardiovascular events. Evidence-based glucagon-like peptide 1 receptor agonists should therefore be considered as part of a comprehensive strategy to reduce the risk of cardiovascular events in patients with type 2 diabetes. Funding: GlaxoSmithKline