Based on the microdata of 705 wheat farmers in the Loess Plateau, this study empirically analyzes the impact of uncertainty on farmers' adoption of innovative seeds using a field experiment. The results indicate t...Based on the microdata of 705 wheat farmers in the Loess Plateau, this study empirically analyzes the impact of uncertainty on farmers' adoption of innovative seeds using a field experiment. The results indicate that farmers are generally ambiguity-averse and risk-averse. In addition, farmers with higher ambiguity aversion and risk aversion are less likely to adopt innovative wheat seeds, where their risk aversion plays a dominant role. Enhancing information access will alleviate the negative influence of ambiguity aversion on farmers' adoption of innovative seeds, and interlinked insurance and credit contracts will be beneficial to ease the adverse effect of risk aversion on the adoption of innovative wheat seeds. Meanwhile, heterogeneity analysis reveals that the inhibitory effects of ambiguity aversion and risk aversion on innovative seed adoption are more significant among farmers with lower education and household income.The government can establish both ex-ante and ex-post relevant guarantee mechanisms to help farmers preferably cope with various uncertainties in the production process, remitting farmers' ambiguity aversion and risk aversion to enhance new agricultural technology adoption rates.展开更多
Animals learn to avoid particular food when some of its sensory properties are associated with gastrointestinal discomfort. Twenty rats were exposed to free access to food and a sugar solution for ten days in first ph...Animals learn to avoid particular food when some of its sensory properties are associated with gastrointestinal discomfort. Twenty rats were exposed to free access to food and a sugar solution for ten days in first phase. During second phase, experimental group received a dose of LiCl. Control group received an injection without LiCl. Both groups had free access to a sugar solution and food restriction for three days. In the final phase, both groups returned to the conditions of first phase. Results showed a significant decrease in sugar intake after aversive conditioning regarding the intake registered in the initial phase in experimental group. Control group did not show any differences in its sugar intake before and after the experimental manipulation. The procedure carried out is discussed as a means to decrease sugar intake.展开更多
This study explored the effects of ambiguity on the calculation of Value-at-Risk(VaR)using a mathematical model based on the theory of Choquet-Brownian processes.It was found that while a moderate degree of ambiguity ...This study explored the effects of ambiguity on the calculation of Value-at-Risk(VaR)using a mathematical model based on the theory of Choquet-Brownian processes.It was found that while a moderate degree of ambiguity aversion yields a higher value for VaR and Expected Shortfall(ES),the result can be reversed in a deeply ambiguous environment.Additionally,some sufficient conditions are provided for the preservation of this effect under various forms of risk aggregation.This study offers a new perspective to full awareness on capital requirement calculation as requested by international regulation.展开更多
In the consensus-reaching process(CRP),the actual utility of decision-makers(DMs)is often influenced by the psychological behavior of regret aversion.However,the influence of regret aversion on DMs’utilities is rarel...In the consensus-reaching process(CRP),the actual utility of decision-makers(DMs)is often influenced by the psychological behavior of regret aversion.However,the influence of regret aversion on DMs’utilities is rarely taken into account in the existing consensus models.The consensus-reaching problem of DMs with regret aversion is explored to maximize their perceived utilities under a limited budget.Firstly,three basic types of perceived utility functions are constructed based on the regret theory to describe the perceived utility of DMs with various preferences.Then,considering the limited budget and individual regret aversion,the maximum perceived utility consensus models based on types of left-skewed,right-skewed,middle-skewed,and heterogeneous utility preferences are proposed to achieve the consensus that maximizes the group perceived utility.After that,an example of land-transfer price negotiation in China is given to illustrate the validity of the proposed models.Finally,the model comparison and the sensitivity analysis are presented to reveal the influence of DMs’regret aversion on the CRP.The results suggest that the DMs’regret aversion will not affect left-skewed and right-skewed groups,but will affect the consensus results of middle-skewed and heterogeneous groups.展开更多
The aversive properties of alcohol can be examined by using ethanol as a conditioning agent in a taste aversion (TA) paradigm. However, there is often variability in how organisms respond to the aversive properties of...The aversive properties of alcohol can be examined by using ethanol as a conditioning agent in a taste aversion (TA) paradigm. However, there is often variability in how organisms respond to the aversive properties of alcohol. Using a selectively bred line of TA-prone (TAP) rats, the present study sought to determine if antagonizing the GABA receptor complex with picrotoxin could block the acquisition of an ethanol-based conditioned aversion to a normally preferred fluid. Fifty TAP rats were randomly divided into 5 groups. In the two experimental groups, rats were pretreated with i.p. injections of low or high doses of the GABA Aantagonist picrotoxin prior to undergoing taste aversion conditioning —wherein consumption of a novel saccharin solution (0.1%) was followed by an i.p. injection of ethanol (1.5 mg/kg). In the primary control group, rats were treated identically, except that isotonic saline was substituted for picrotoxin. In the non-conditioning and pseudo-conditioning control groups, rats did not receive an ethanol-saccharin pairing but did receive a picrotoxin injection. Repeated measures ANOVA revealed that animals in the picrotoxin groups displayed significantly weaker TAs than the primary control group (p 0.05) as measured by post-conditioning, two-bottle saccharin preference scores. Picrotoxin hinders the acquisition of an ethanol-induced TA, thereby supporting the hypothesis that the GABA system plays a central role in ethanol’s motivational effects. Possible mechanisms include 1) picrotoxin attenuates negative effects of ethanol, 2) picrotoxin interferes with the central associative processes that promote TA conditioning or 3) some combination of 1 and 2.展开更多
<p style="text-align:justify;margin-left:10pt;"> <span style="font-family:;" "=""><span>This study examined the validity of the differentiation-of-self hypothesis f...<p style="text-align:justify;margin-left:10pt;"> <span style="font-family:;" "=""><span>This study examined the validity of the differentiation-of-self hypothesis for Japanese university students, and its mechanism in relation to negative life event aversion. Although </span><span>the differentiation-of-self hypothesis is accepted as one of the basic hypothes</span><span>es in the clinical field of family therapy in Japan</span><span><span>, empirical studies on the subject are scarce. Further, there are few studies, internationally, on its mechanism. A questionnaire survey was conducted with university students (</span><i><span>n </span></i><span>= 250) to measure their differentiation of self, maladaptive states, and negative life event aversion. </span><span>Compared to the better-differentiated group, the less-differentiated group had higher scores both for maladaptive </span></span><span><span>states—somatic symptoms (</span><i><span>t</span></i><span>(223) = -</span></span></span><span><span style="font-family:;" "=""><span><span>2.70, </span><i><span>p</span></i><span> = </span></span></span></span><span><span>0</span></span><span><span style="font-family:;" "=""><span>.008), social dysfunction</span><span><span> (</span><i><span>t</span></i><span>(211.00) = -</span></span></span></span><span><span style="font-family:;" "=""><span><span>3.30, </span><i><span>p</span></i><span> = </span></span></span></span><span><span>0</span></span><span><span style="font-family:;" "=""><span>.001), and severe depression (</span><i><span>t</span></i><span>(208.78) = -</span></span></span><span><span style="font-family:;" "=""><span><span>4.08, </span><i><span>p</span></i><span> <</span></span></span></span><span><span> 0</span></span><span><span style="font-family:;" "=""><span>.001)—and negative life event aversion—interpersonal domain (</span><i><span>t</span></i><span>(223) = -</span></span></span><span><span style="font-family:;" "=""><span><span>3.96, </span><i><span>p</span></i><span> <</span></span></span></span><span><span> 0</span></span><span><span style="font-family:;" "=""><span>.001) and achievement domain (</span><i><span>t</span></i><span>(223) = -</span></span></span><span><span style="font-family:;" "=""><span><span>3.83, </span><i><span>p</span></i><span> <</span></span></span></span><span><span> 0</span></span><span><span>.001). </span></span><span>The results supported the validity of the differentiation-of-self hypothesis for Japanese university students, and that cognitive tendencies toward negative life events may be part of the mechanism for less-differentiated individuals’ subsequent vulnerability. This suggests the effectiveness of cognitive interventions.</span> </p>展开更多
The likelihood function plays a central role in statistical analysis in relation to information, from both frequentist and Bayesian perspectives. In large samples several new properties of the likelihood in relation t...The likelihood function plays a central role in statistical analysis in relation to information, from both frequentist and Bayesian perspectives. In large samples several new properties of the likelihood in relation to information are developed here. The Arrow-Pratt absolute risk aversion measure is shown to be related to the Cramer-Rao Information bound. The derivative of the log-likelihood function is seen to provide a measure of information related stability for the Bayesian posterior density. As well, information similar prior densities can be defined reflecting the central role of likelihood in the Bayes learning paradigm.展开更多
In this paper,we focus on small business enterprises(SBEs)that usually have low market power but can rely on retailers to transact sales and gain the ability to disclose quality information.Moreover,consumer loss aver...In this paper,we focus on small business enterprises(SBEs)that usually have low market power but can rely on retailers to transact sales and gain the ability to disclose quality information.Moreover,consumer loss aversion(CLA)is pronounced when buying from SBEs that have yet to develop a strong reputation and uncertain quality.We focus on two competing SBEs with heterogeneous quality levels and discuss their quality disclosure strategiesd whether selling through a retailerd in the context of CLA.We study the interaction between consumers'prior belief in product quality and CLA and how these factors affect equilibrium outcomes.We show that a situation in which low-quality and high-quality SBEs both choose to disclose will not occur under a neutral consumer attitude,i.e.,it happens only when the aversion level is significant.When the aversion level is low,either the low-quality SBE or the high-quality SBE will decide to disclose,and the disclosing party depends on the prior belief.In addition,CLA significantly impacts the monotonicity of both SBEs'and retailers'prices and profits relating to the consumers'prior beliefs.展开更多
BACKGROUND The role of physical activity in diabetes is critical,influencing this disease's development,man-agement,and overall outcomes.In China,22.3%of adults do not meet the minimum level of physical activity r...BACKGROUND The role of physical activity in diabetes is critical,influencing this disease's development,man-agement,and overall outcomes.In China,22.3%of adults do not meet the minimum level of physical activity recommended by the World Health Organization.Therefore,it is imperative to identify the factors that contributing to lack of physical activity must be identified.AIM To investigate the relationship among delay discounting,delay aversion,glycated hemoglobin(HbA1c),and various levels of physical activity in Chinese adults diagnosed with type 2 diabetes mellitus(T2DM).METHODS In 2023,400 adults with T2DM were recruited from the People's Hospital of Linxia Hui Autonomous Prefecture of Gansu Province.A face-to-face questionnaire was used to gather demographic data and details on physical activity,delay discounting,and delay aversion.In addition,HbA1c levels were measured in all 400 participants.The primary independent variables considered were delay discounting and delay aversion.The outcome variables included HbA1c levels and different intensity levels of physical activity,including walking,moderate physical activity,and vigorous physical activity.Multiple linear regression models were utilized to assess the relationship between delay discounting,delay aversion,and HbA1c levels,along with the intensity of different physical activity measured in met-hours per week.RESULTS After controlling for the sample characteristics,delay discounting was negatively associated with moderate physical activity(β=-2.386,95%CI:-4.370 to-0.401).Meanwhile,delay aversion was negatively associated with the level of moderate physical activity(β=-3.527,95%CI:-5.578 to-1.476)in the multiple linear regression model,with statistically significant differences.CONCLUSION Elevated delay discounting and increased delay aversion correlated with reduced levels of moderate physical activity.Result suggests that delay discounting and aversion may influence engagement in moderate physical activity.This study recommends that health administration and government consider delay discounting and delay aversion when formulating behavioral intervention strategies and treatment guidelines involving physical activity for patients with T2DM,which may increase participation in physical activity.This study contributes a novel perspective to the research on physical activity in adults with T2DM by examining the significance of future health considerations and the role of emotional responses to delays.展开更多
The authors consider an M/M/1 queue with two types of customers,where customers are classified into two categories according to their psychological feelings when facing uncertainty about queue information.In the unobs...The authors consider an M/M/1 queue with two types of customers,where customers are classified into two categories according to their psychological feelings when facing uncertainty about queue information.In the unobservable queue,experienced customers could accurately calculate their expected utilities,while first-time customers are loss-averse and the psychological feelings could incur additional gain-loss utilities.By defining customers'willingness to pay,the authors derive the equilibrium joining-balking behaviors for each type of customer and obtain the service provider's optimal pricing decision.The authors also classify the implications of the obtained results.展开更多
Pain consists of sensory-discriminative and emotional-affective components.The anterior cingulate cortex(ACC)is a critical brain area in mediating the affective pain.However,the molecular mechanisms involved remain la...Pain consists of sensory-discriminative and emotional-affective components.The anterior cingulate cortex(ACC)is a critical brain area in mediating the affective pain.However,the molecular mechanisms involved remain largely unknown.Our recent study indicated that C-X-C motif chemokine 13(CXCL13)and its sole receptor CXCR5 are involved in sensory sensitization in the spinal cord after spinal nerve ligation(SNL).Whether CXCL13/CXCR5 signaling in the ACC contributes to the pathogenesis of pain-related aversion remains unknown.Here,we showed that SNL increased the CXCL13 level and CXCR5 expression in the ACC after SNL.Knockdown of CXCR5 by microinjection of Cxcr5 shRNA into the ACC did not affect SNL-induced mechanical allodynia but effectively alleviated neuropathic painrelated place avoidance behavior.Furthermore,electrophysiological recording from layer Ⅱ-Ⅲ neurons in the ACC showed that SNL increased the frequency and amplitude of spontaneous excitatory postsynaptic currents(sEPSCs),decreased the EPSC paired-pulse ratio,and increased the α-amino-3-hydroxy-5-methyl-4-isoxazolepropionic acid receptor/N-methyl-D-aspartate receptor ratio,indicating enhanced glutamatergic synaptic transmission.Finally,superfusion of CXCL13 onto ACC slices increased the frequency and amplitude of spontaneous EPSCs.Pre-injection of Cxcr5 shRNA into the ACC reduced the increase in glutamatergic synaptic transmis sion induced by SNL.Collectively,these results suggest that CXCL13/CXCR5 signaling in the ACC is involved in neuropathic pain-related aversion via synaptic potentiation.展开更多
This paper studies the price decisions in a dual-channel closed-loop supply chain with a risk-averse retailer and a risk-neutral manufacturer by modeling and analyzing three cases:(1)the retailer does not have fairnes...This paper studies the price decisions in a dual-channel closed-loop supply chain with a risk-averse retailer and a risk-neutral manufacturer by modeling and analyzing three cases:(1)the retailer does not have fairness concerns;(2)the retailer has fairness concerns and the manufacturer considers it;and(3)the retailer has fairness concerns and the manufacturer does not consider it.The effects of risk aversion and fairness concerns on the pricing decisions,profits and demand are examined in differing scenarios.展开更多
The nucleus accumbens shell(NAcSh) plays an important role in reward and aversion. Traditionally, NAc dopamine receptor 2-expressing(D2) neurons are assumed to function in aversion. However, this has been challenged b...The nucleus accumbens shell(NAcSh) plays an important role in reward and aversion. Traditionally, NAc dopamine receptor 2-expressing(D2) neurons are assumed to function in aversion. However, this has been challenged by recent reports which attribute positive motivational roles to D2 neurons. Using optogenetics and multiple behavioral tasks, we found that activation of D2 neurons in the dorsomedial NAcSh drives preference and increases the motivation for rewards, whereas activation of ventral NAcSh D2 neurons induces aversion. Stimulation of D2 neurons in the ventromedial NAcSh increases movement speed and stimulation of D2 neurons in the ventrolateral NAc Sh decreases movement speed. Combining retrograde tracing and in situ hybridization, we demonstrated that glutamatergic and GABAergic neurons in the ventral pallidum receive inputs differentially from the dorsomedial and ventral NAcSh. All together, these findings shed light on the controversy regarding the function of NAcSh D2 neurons, and provide new insights into understanding the heterogeneity of the NAcSh.展开更多
When one becomes ill after consuming a meal, there is a propensity to target a particular taste as the cause of the illness. The qualities of the taste most likely targeted include more novel, less preferred, and high...When one becomes ill after consuming a meal, there is a propensity to target a particular taste as the cause of the illness. The qualities of the taste most likely targeted include more novel, less preferred, and higher protein content. This association between a particular taste and illness is a form of learning that is termed conditioned taste aversion (CTA). A consequence of the learned association is that the taste will become aversive. When experiencing the taste again, individuals will show aversive reactions such as expressions of loathing, will experience mimicked illness sensations such as nausea, and subsequently, will avoid further exposure to the taste. The ability to acquire CTA occurs across species and across ages within a species. In the rat animal model, however, age differences exist in the capability of acquiring CTAs when increasingly longer intervals are imposed between consumption of a novel sweet solution and onset of illness. Pups have a decreased ability compared to young adults while aged rats have an increased ability. Evidence suggests that the failure of pups to acquire CTA at longer intervals is due to an immature retrieval mechanism and the facili-tated ability of aged rats is due to a compromised clock mechanism that tracks the passage of time. Learned taste-illness association serves the critical function of informing individuals of the toxic nature of certain foods, thus preventing further illness and potentially death. Additionally, it contributes to the hypophagia observed during cancer chemotherapy and may contribute to the hypophagia found while suffering from bacterial infection, chronic med-ical conditions such as cancer, and restrictive food intake disorders such as anorexia nervosa.展开更多
In reality,when facing a multi-period asset-liability portfolio selection problem,the risk aversion attitude of a mean-variance investor may depend on the wealth level and liability level.Thus,in this paper,we propose...In reality,when facing a multi-period asset-liability portfolio selection problem,the risk aversion attitude of a mean-variance investor may depend on the wealth level and liability level.Thus,in this paper,we propose a state-dependent risk aversion model for the investor,in which risk aversion is a linear function of current wealth level and current liability level.Due to the time inconsistency of the resulting multi-period asset-liability mean-variance model,we investigate its time-consistent portfolio policy by solving a nested mean-variance game formulation.We derive the analytical time-consistent portfolio policy,which takes a linear form of current wealth level and current liability level.We also analyze the influence of the risk aversion coefficients on the time-consistent portfolio policy and the investment performance via a numerical example.展开更多
Most route choice models assume that people are completely rational.Recently,regret theory has attracted researchers'attentions because of its power to depict real travel behavior.This paper proposes a multiclass ...Most route choice models assume that people are completely rational.Recently,regret theory has attracted researchers'attentions because of its power to depict real travel behavior.This paper proposes a multiclass stochastic user equilibrium assignment model by using regret theory.All users are differentiated by their own regret aversion.The route travel disutility for users of each class is defined as a linear combination of the travel time and anticipated regret.The proposed model is formulated as a variational inequality problem and solved by using the self-regulated averaging method.The numerical results show that users'regret aversion indeed influences their route choice behavior and that users with high regret aversion are more inclined to change route choice when the traffic congestion degree varies.展开更多
Under the S-shaped utility of loss aversion,this paper considers the bequest motivation of pension plan participants,random salary income before retirement and the substitution rate between receiving pension benefits ...Under the S-shaped utility of loss aversion,this paper considers the bequest motivation of pension plan participants,random salary income before retirement and the substitution rate between receiving pension benefits after retirement and wages before retirement,and studies the optimal investment strategy of defined contribution(DC)pension.Assuming that pension funds can invest in a financial market consisting of three assets(risk-free asset cash,rolling bonds and stocks),inflation is considered by discount.Under the S-shaped utility,the Lagrange method is used to find the terminal optimal surplus of pensions in retirement,so as to find the terminal optimal wealth,and then the martingale method is used to find the optimal wealth process and investment strategy.Finally,a sensitivity analysis is carried out on the the influence of bequest motivation and loss aversion on the optimal investment strategy of DC pension.展开更多
Conditioned taste aversion(CTA)is an adaptive learning mechanism whereby a consumer associates the taste of a certain food with symptoms caused by a toxic substance,and thereafter avoids eating that type of food.Recen...Conditioned taste aversion(CTA)is an adaptive learning mechanism whereby a consumer associates the taste of a certain food with symptoms caused by a toxic substance,and thereafter avoids eating that type of food.Recently,wildlife researchers have employed CTA to discourage native fauna from ingesting toxic cane toads(Rhinella marina),a species that is invading tropical Australia.In this paper,we compare the results of 2 sets of CTA trials on large varanid lizards(“goannas,”Varanus panoptes).One set of trials(described in this paper)exposed recently-captured lizards to sausages made from cane toad flesh,laced with a nausea-inducing chemical(lithium chloride)to reinforce the aversion response.The other trials(in a recently-published paper,reviewed herein)exposed free-ranging lizards to live juvenile cane toads.The effectiveness of the training was judged by how long a lizard survived in the wild before it was killed(fatally poisoned)by a cane toad.Both stimuli elicited rapid aversion to live toads,but the CTA response did not enhance survival rates of the sausage-trained goannas after they were released into the wild.In contrast,the goannas exposed to live juvenile toads exhibited higher long-term survival rates than did untrained conspecifics.Our results suggest that although it is relatively easy to elicit short-term aversion to toad cues in goannas,a biologically realistic stimulus(live toads,encountered by free-ranging predators)is most effective at buffering these reptiles from the impact of invasive toxic prey.展开更多
This paper deals with the effort problem under multiple risks in bivariate utility setting. We identify preference conditions to insure positive or negative effect of a background variable uncertainty on effort in the...This paper deals with the effort problem under multiple risks in bivariate utility setting. We identify preference conditions to insure positive or negative effect of a background variable uncertainty on effort in the presence of other risks. We allow for the simultaneous presence of wealth and background variable uncertainties. We investigate the joint effect of two-source uncertainties on effort when two risks are either small or positive quadrant dependent. Our work extends the previous model of effort to bivariate utility framework and presents new insights into the issue of optimal effort under uncertainty.展开更多
This paper tests how market misvaluation affects corporate innovation.Unlike the“catering effect”observed in the US,we find that estimated stock overvaluation in China is strongly negatively associated with corporat...This paper tests how market misvaluation affects corporate innovation.Unlike the“catering effect”observed in the US,we find that estimated stock overvaluation in China is strongly negatively associated with corporate innovation,conforming to our“risk-aversion”hypothesis.In China,misvaluation affects innovation via finance and management behavior channels.The effect is more significant in non-state-owned corporations than in state-owned corporations.Stock turnover rate and ownership concentration play moderating roles in the effect.The evidence sheds light on the relationship between market risks and corporate innovation in an emerging market.展开更多
基金supported by the National Natural Science Foundation of China (71973087 and 72003215)the 72nd General Program of China Postdoctoral Science Foundation (2022M720170)+1 种基金the Soft Science Project of the Department of Science and Technology of Shaanxi Province, China (2022KRM131)the Special Fund Project of Basic Scientific Research Operation Funds of Central Universities, China (20SZYB21)。
文摘Based on the microdata of 705 wheat farmers in the Loess Plateau, this study empirically analyzes the impact of uncertainty on farmers' adoption of innovative seeds using a field experiment. The results indicate that farmers are generally ambiguity-averse and risk-averse. In addition, farmers with higher ambiguity aversion and risk aversion are less likely to adopt innovative wheat seeds, where their risk aversion plays a dominant role. Enhancing information access will alleviate the negative influence of ambiguity aversion on farmers' adoption of innovative seeds, and interlinked insurance and credit contracts will be beneficial to ease the adverse effect of risk aversion on the adoption of innovative wheat seeds. Meanwhile, heterogeneity analysis reveals that the inhibitory effects of ambiguity aversion and risk aversion on innovative seed adoption are more significant among farmers with lower education and household income.The government can establish both ex-ante and ex-post relevant guarantee mechanisms to help farmers preferably cope with various uncertainties in the production process, remitting farmers' ambiguity aversion and risk aversion to enhance new agricultural technology adoption rates.
文摘Animals learn to avoid particular food when some of its sensory properties are associated with gastrointestinal discomfort. Twenty rats were exposed to free access to food and a sugar solution for ten days in first phase. During second phase, experimental group received a dose of LiCl. Control group received an injection without LiCl. Both groups had free access to a sugar solution and food restriction for three days. In the final phase, both groups returned to the conditions of first phase. Results showed a significant decrease in sugar intake after aversive conditioning regarding the intake registered in the initial phase in experimental group. Control group did not show any differences in its sugar intake before and after the experimental manipulation. The procedure carried out is discussed as a means to decrease sugar intake.
文摘This study explored the effects of ambiguity on the calculation of Value-at-Risk(VaR)using a mathematical model based on the theory of Choquet-Brownian processes.It was found that while a moderate degree of ambiguity aversion yields a higher value for VaR and Expected Shortfall(ES),the result can be reversed in a deeply ambiguous environment.Additionally,some sufficient conditions are provided for the preservation of this effect under various forms of risk aggregation.This study offers a new perspective to full awareness on capital requirement calculation as requested by international regulation.
基金National Natural Science Foundation of China(No.71901058)Fundamental Research Funds for the Central Universities,China(No.2232018H-07)。
文摘In the consensus-reaching process(CRP),the actual utility of decision-makers(DMs)is often influenced by the psychological behavior of regret aversion.However,the influence of regret aversion on DMs’utilities is rarely taken into account in the existing consensus models.The consensus-reaching problem of DMs with regret aversion is explored to maximize their perceived utilities under a limited budget.Firstly,three basic types of perceived utility functions are constructed based on the regret theory to describe the perceived utility of DMs with various preferences.Then,considering the limited budget and individual regret aversion,the maximum perceived utility consensus models based on types of left-skewed,right-skewed,middle-skewed,and heterogeneous utility preferences are proposed to achieve the consensus that maximizes the group perceived utility.After that,an example of land-transfer price negotiation in China is given to illustrate the validity of the proposed models.Finally,the model comparison and the sensitivity analysis are presented to reveal the influence of DMs’regret aversion on the CRP.The results suggest that the DMs’regret aversion will not affect left-skewed and right-skewed groups,but will affect the consensus results of middle-skewed and heterogeneous groups.
文摘The aversive properties of alcohol can be examined by using ethanol as a conditioning agent in a taste aversion (TA) paradigm. However, there is often variability in how organisms respond to the aversive properties of alcohol. Using a selectively bred line of TA-prone (TAP) rats, the present study sought to determine if antagonizing the GABA receptor complex with picrotoxin could block the acquisition of an ethanol-based conditioned aversion to a normally preferred fluid. Fifty TAP rats were randomly divided into 5 groups. In the two experimental groups, rats were pretreated with i.p. injections of low or high doses of the GABA Aantagonist picrotoxin prior to undergoing taste aversion conditioning —wherein consumption of a novel saccharin solution (0.1%) was followed by an i.p. injection of ethanol (1.5 mg/kg). In the primary control group, rats were treated identically, except that isotonic saline was substituted for picrotoxin. In the non-conditioning and pseudo-conditioning control groups, rats did not receive an ethanol-saccharin pairing but did receive a picrotoxin injection. Repeated measures ANOVA revealed that animals in the picrotoxin groups displayed significantly weaker TAs than the primary control group (p 0.05) as measured by post-conditioning, two-bottle saccharin preference scores. Picrotoxin hinders the acquisition of an ethanol-induced TA, thereby supporting the hypothesis that the GABA system plays a central role in ethanol’s motivational effects. Possible mechanisms include 1) picrotoxin attenuates negative effects of ethanol, 2) picrotoxin interferes with the central associative processes that promote TA conditioning or 3) some combination of 1 and 2.
文摘<p style="text-align:justify;margin-left:10pt;"> <span style="font-family:;" "=""><span>This study examined the validity of the differentiation-of-self hypothesis for Japanese university students, and its mechanism in relation to negative life event aversion. Although </span><span>the differentiation-of-self hypothesis is accepted as one of the basic hypothes</span><span>es in the clinical field of family therapy in Japan</span><span><span>, empirical studies on the subject are scarce. Further, there are few studies, internationally, on its mechanism. A questionnaire survey was conducted with university students (</span><i><span>n </span></i><span>= 250) to measure their differentiation of self, maladaptive states, and negative life event aversion. </span><span>Compared to the better-differentiated group, the less-differentiated group had higher scores both for maladaptive </span></span><span><span>states—somatic symptoms (</span><i><span>t</span></i><span>(223) = -</span></span></span><span><span style="font-family:;" "=""><span><span>2.70, </span><i><span>p</span></i><span> = </span></span></span></span><span><span>0</span></span><span><span style="font-family:;" "=""><span>.008), social dysfunction</span><span><span> (</span><i><span>t</span></i><span>(211.00) = -</span></span></span></span><span><span style="font-family:;" "=""><span><span>3.30, </span><i><span>p</span></i><span> = </span></span></span></span><span><span>0</span></span><span><span style="font-family:;" "=""><span>.001), and severe depression (</span><i><span>t</span></i><span>(208.78) = -</span></span></span><span><span style="font-family:;" "=""><span><span>4.08, </span><i><span>p</span></i><span> <</span></span></span></span><span><span> 0</span></span><span><span style="font-family:;" "=""><span>.001)—and negative life event aversion—interpersonal domain (</span><i><span>t</span></i><span>(223) = -</span></span></span><span><span style="font-family:;" "=""><span><span>3.96, </span><i><span>p</span></i><span> <</span></span></span></span><span><span> 0</span></span><span><span style="font-family:;" "=""><span>.001) and achievement domain (</span><i><span>t</span></i><span>(223) = -</span></span></span><span><span style="font-family:;" "=""><span><span>3.83, </span><i><span>p</span></i><span> <</span></span></span></span><span><span> 0</span></span><span><span>.001). </span></span><span>The results supported the validity of the differentiation-of-self hypothesis for Japanese university students, and that cognitive tendencies toward negative life events may be part of the mechanism for less-differentiated individuals’ subsequent vulnerability. This suggests the effectiveness of cognitive interventions.</span> </p>
文摘The likelihood function plays a central role in statistical analysis in relation to information, from both frequentist and Bayesian perspectives. In large samples several new properties of the likelihood in relation to information are developed here. The Arrow-Pratt absolute risk aversion measure is shown to be related to the Cramer-Rao Information bound. The derivative of the log-likelihood function is seen to provide a measure of information related stability for the Bayesian posterior density. As well, information similar prior densities can be defined reflecting the central role of likelihood in the Bayes learning paradigm.
基金Danli Yao was supported by the National Natural Science Foundation of China under grant number 72301174the Ministry of Education,Humanities and Social Science Projects under grant number 23YJC630010+2 种基金Simai He received support from the Major Program of the National Natural Science Foundation of China(NSFC)Grant(72192830,72192832)Grant 71825003.Meng Zheng was supported by the China Scholarship Council under grant number 202206480040the National Natural Science Foundation of China under grant number 72192832.
文摘In this paper,we focus on small business enterprises(SBEs)that usually have low market power but can rely on retailers to transact sales and gain the ability to disclose quality information.Moreover,consumer loss aversion(CLA)is pronounced when buying from SBEs that have yet to develop a strong reputation and uncertain quality.We focus on two competing SBEs with heterogeneous quality levels and discuss their quality disclosure strategiesd whether selling through a retailerd in the context of CLA.We study the interaction between consumers'prior belief in product quality and CLA and how these factors affect equilibrium outcomes.We show that a situation in which low-quality and high-quality SBEs both choose to disclose will not occur under a neutral consumer attitude,i.e.,it happens only when the aversion level is significant.When the aversion level is low,either the low-quality SBE or the high-quality SBE will decide to disclose,and the disclosing party depends on the prior belief.In addition,CLA significantly impacts the monotonicity of both SBEs'and retailers'prices and profits relating to the consumers'prior beliefs.
基金Supported by the Natural Science Foundation of Gansu Province,No.22JR5RN1054.
文摘BACKGROUND The role of physical activity in diabetes is critical,influencing this disease's development,man-agement,and overall outcomes.In China,22.3%of adults do not meet the minimum level of physical activity recommended by the World Health Organization.Therefore,it is imperative to identify the factors that contributing to lack of physical activity must be identified.AIM To investigate the relationship among delay discounting,delay aversion,glycated hemoglobin(HbA1c),and various levels of physical activity in Chinese adults diagnosed with type 2 diabetes mellitus(T2DM).METHODS In 2023,400 adults with T2DM were recruited from the People's Hospital of Linxia Hui Autonomous Prefecture of Gansu Province.A face-to-face questionnaire was used to gather demographic data and details on physical activity,delay discounting,and delay aversion.In addition,HbA1c levels were measured in all 400 participants.The primary independent variables considered were delay discounting and delay aversion.The outcome variables included HbA1c levels and different intensity levels of physical activity,including walking,moderate physical activity,and vigorous physical activity.Multiple linear regression models were utilized to assess the relationship between delay discounting,delay aversion,and HbA1c levels,along with the intensity of different physical activity measured in met-hours per week.RESULTS After controlling for the sample characteristics,delay discounting was negatively associated with moderate physical activity(β=-2.386,95%CI:-4.370 to-0.401).Meanwhile,delay aversion was negatively associated with the level of moderate physical activity(β=-3.527,95%CI:-5.578 to-1.476)in the multiple linear regression model,with statistically significant differences.CONCLUSION Elevated delay discounting and increased delay aversion correlated with reduced levels of moderate physical activity.Result suggests that delay discounting and aversion may influence engagement in moderate physical activity.This study recommends that health administration and government consider delay discounting and delay aversion when formulating behavioral intervention strategies and treatment guidelines involving physical activity for patients with T2DM,which may increase participation in physical activity.This study contributes a novel perspective to the research on physical activity in adults with T2DM by examining the significance of future health considerations and the role of emotional responses to delays.
基金supported by the National Natural Science Foundation of China under Grant No.12001329Shandong Provincial Natural Science Foundation under Grant No.ZR2019BG014+1 种基金Scientific Research Foundation of Anhui Polytechnic University under Grant No.2022YQQ026Scientific Research Foundation of Shandong University of Science and Technology for Recruited Talents under Grant No.2019RCJJ016。
文摘The authors consider an M/M/1 queue with two types of customers,where customers are classified into two categories according to their psychological feelings when facing uncertainty about queue information.In the unobservable queue,experienced customers could accurately calculate their expected utilities,while first-time customers are loss-averse and the psychological feelings could incur additional gain-loss utilities.By defining customers'willingness to pay,the authors derive the equilibrium joining-balking behaviors for each type of customer and obtain the service provider's optimal pricing decision.The authors also classify the implications of the obtained results.
基金supported by grants from the National Natural Science Foundation of China (31671091 and 81771197)the Natural Science Foundation of Jiangsu Province, China (BK20171255)the Science and Technology Planning Project of Nantong Municipality, China (MS12017023-9)
文摘Pain consists of sensory-discriminative and emotional-affective components.The anterior cingulate cortex(ACC)is a critical brain area in mediating the affective pain.However,the molecular mechanisms involved remain largely unknown.Our recent study indicated that C-X-C motif chemokine 13(CXCL13)and its sole receptor CXCR5 are involved in sensory sensitization in the spinal cord after spinal nerve ligation(SNL).Whether CXCL13/CXCR5 signaling in the ACC contributes to the pathogenesis of pain-related aversion remains unknown.Here,we showed that SNL increased the CXCL13 level and CXCR5 expression in the ACC after SNL.Knockdown of CXCR5 by microinjection of Cxcr5 shRNA into the ACC did not affect SNL-induced mechanical allodynia but effectively alleviated neuropathic painrelated place avoidance behavior.Furthermore,electrophysiological recording from layer Ⅱ-Ⅲ neurons in the ACC showed that SNL increased the frequency and amplitude of spontaneous excitatory postsynaptic currents(sEPSCs),decreased the EPSC paired-pulse ratio,and increased the α-amino-3-hydroxy-5-methyl-4-isoxazolepropionic acid receptor/N-methyl-D-aspartate receptor ratio,indicating enhanced glutamatergic synaptic transmission.Finally,superfusion of CXCL13 onto ACC slices increased the frequency and amplitude of spontaneous EPSCs.Pre-injection of Cxcr5 shRNA into the ACC reduced the increase in glutamatergic synaptic transmis sion induced by SNL.Collectively,these results suggest that CXCL13/CXCR5 signaling in the ACC is involved in neuropathic pain-related aversion via synaptic potentiation.
基金the National Social Science Fund of China(No.18BJY009)the Natural Sciences and Engineering Research Council of Canada(No.06446)the National Natural Science Foundation of China(Nos.11771386 and 11728104).
文摘This paper studies the price decisions in a dual-channel closed-loop supply chain with a risk-averse retailer and a risk-neutral manufacturer by modeling and analyzing three cases:(1)the retailer does not have fairness concerns;(2)the retailer has fairness concerns and the manufacturer considers it;and(3)the retailer has fairness concerns and the manufacturer does not consider it.The effects of risk aversion and fairness concerns on the pricing decisions,profits and demand are examined in differing scenarios.
基金supported by National Science Foundation of China grants 31571095 and 91332122a Key Scientific Technological Innovation Research project from the Ministry of Education+1 种基金a grant from Insitute Guo Qiang at Tsinghua Universityfunding from the Beijing Program on the Study of Functional Chips and Related Core Technologies of Brain-inspired Computing Systems。
文摘The nucleus accumbens shell(NAcSh) plays an important role in reward and aversion. Traditionally, NAc dopamine receptor 2-expressing(D2) neurons are assumed to function in aversion. However, this has been challenged by recent reports which attribute positive motivational roles to D2 neurons. Using optogenetics and multiple behavioral tasks, we found that activation of D2 neurons in the dorsomedial NAcSh drives preference and increases the motivation for rewards, whereas activation of ventral NAcSh D2 neurons induces aversion. Stimulation of D2 neurons in the ventromedial NAcSh increases movement speed and stimulation of D2 neurons in the ventrolateral NAc Sh decreases movement speed. Combining retrograde tracing and in situ hybridization, we demonstrated that glutamatergic and GABAergic neurons in the ventral pallidum receive inputs differentially from the dorsomedial and ventral NAcSh. All together, these findings shed light on the controversy regarding the function of NAcSh D2 neurons, and provide new insights into understanding the heterogeneity of the NAcSh.
文摘When one becomes ill after consuming a meal, there is a propensity to target a particular taste as the cause of the illness. The qualities of the taste most likely targeted include more novel, less preferred, and higher protein content. This association between a particular taste and illness is a form of learning that is termed conditioned taste aversion (CTA). A consequence of the learned association is that the taste will become aversive. When experiencing the taste again, individuals will show aversive reactions such as expressions of loathing, will experience mimicked illness sensations such as nausea, and subsequently, will avoid further exposure to the taste. The ability to acquire CTA occurs across species and across ages within a species. In the rat animal model, however, age differences exist in the capability of acquiring CTAs when increasingly longer intervals are imposed between consumption of a novel sweet solution and onset of illness. Pups have a decreased ability compared to young adults while aged rats have an increased ability. Evidence suggests that the failure of pups to acquire CTA at longer intervals is due to an immature retrieval mechanism and the facili-tated ability of aged rats is due to a compromised clock mechanism that tracks the passage of time. Learned taste-illness association serves the critical function of informing individuals of the toxic nature of certain foods, thus preventing further illness and potentially death. Additionally, it contributes to the hypophagia observed during cancer chemotherapy and may contribute to the hypophagia found while suffering from bacterial infection, chronic med-ical conditions such as cancer, and restrictive food intake disorders such as anorexia nervosa.
基金This research was supported by the National Natural Science Foundation of China(Nos.71601107,71671106 and 71201094)Shanghai Pujiang Program(No.15PJC051)+1 种基金the State Key Program in the Major Research Plan of National Natural Science Foundation of China(No.91546202)Program for Innovative Research Team of Shanghai University of Finance and Economics.
文摘In reality,when facing a multi-period asset-liability portfolio selection problem,the risk aversion attitude of a mean-variance investor may depend on the wealth level and liability level.Thus,in this paper,we propose a state-dependent risk aversion model for the investor,in which risk aversion is a linear function of current wealth level and current liability level.Due to the time inconsistency of the resulting multi-period asset-liability mean-variance model,we investigate its time-consistent portfolio policy by solving a nested mean-variance game formulation.We derive the analytical time-consistent portfolio policy,which takes a linear form of current wealth level and current liability level.We also analyze the influence of the risk aversion coefficients on the time-consistent portfolio policy and the investment performance via a numerical example.
基金This research was supported in part by grants from the National Basic Research Program of China(No.2012CB725401)the Fundamental Research Funds for the Central Universities(No.YWF-16-JCTD-A-07)This work was also supported by the Excellence Foundation of BUAA for PhD Students.
文摘Most route choice models assume that people are completely rational.Recently,regret theory has attracted researchers'attentions because of its power to depict real travel behavior.This paper proposes a multiclass stochastic user equilibrium assignment model by using regret theory.All users are differentiated by their own regret aversion.The route travel disutility for users of each class is defined as a linear combination of the travel time and anticipated regret.The proposed model is formulated as a variational inequality problem and solved by using the self-regulated averaging method.The numerical results show that users'regret aversion indeed influences their route choice behavior and that users with high regret aversion are more inclined to change route choice when the traffic congestion degree varies.
基金Supported by the National Social Science Foundation of China(20BTJ048)Anhui University Humanities and Social Science Research Major Project(SK2021ZD0043)
文摘Under the S-shaped utility of loss aversion,this paper considers the bequest motivation of pension plan participants,random salary income before retirement and the substitution rate between receiving pension benefits after retirement and wages before retirement,and studies the optimal investment strategy of defined contribution(DC)pension.Assuming that pension funds can invest in a financial market consisting of three assets(risk-free asset cash,rolling bonds and stocks),inflation is considered by discount.Under the S-shaped utility,the Lagrange method is used to find the terminal optimal surplus of pensions in retirement,so as to find the terminal optimal wealth,and then the martingale method is used to find the optimal wealth process and investment strategy.Finally,a sensitivity analysis is carried out on the the influence of bequest motivation and loss aversion on the optimal investment strategy of DC pension.
文摘Conditioned taste aversion(CTA)is an adaptive learning mechanism whereby a consumer associates the taste of a certain food with symptoms caused by a toxic substance,and thereafter avoids eating that type of food.Recently,wildlife researchers have employed CTA to discourage native fauna from ingesting toxic cane toads(Rhinella marina),a species that is invading tropical Australia.In this paper,we compare the results of 2 sets of CTA trials on large varanid lizards(“goannas,”Varanus panoptes).One set of trials(described in this paper)exposed recently-captured lizards to sausages made from cane toad flesh,laced with a nausea-inducing chemical(lithium chloride)to reinforce the aversion response.The other trials(in a recently-published paper,reviewed herein)exposed free-ranging lizards to live juvenile cane toads.The effectiveness of the training was judged by how long a lizard survived in the wild before it was killed(fatally poisoned)by a cane toad.Both stimuli elicited rapid aversion to live toads,but the CTA response did not enhance survival rates of the sausage-trained goannas after they were released into the wild.In contrast,the goannas exposed to live juvenile toads exhibited higher long-term survival rates than did untrained conspecifics.Our results suggest that although it is relatively easy to elicit short-term aversion to toad cues in goannas,a biologically realistic stimulus(live toads,encountered by free-ranging predators)is most effective at buffering these reptiles from the impact of invasive toxic prey.
基金Supported by the College Excellent Young Talents Program of Anhui(gxyq2017243)the College Natural Science Foundation of Anhui Provincial Education Department(KJ2017A851)
文摘This paper deals with the effort problem under multiple risks in bivariate utility setting. We identify preference conditions to insure positive or negative effect of a background variable uncertainty on effort in the presence of other risks. We allow for the simultaneous presence of wealth and background variable uncertainties. We investigate the joint effect of two-source uncertainties on effort when two risks are either small or positive quadrant dependent. Our work extends the previous model of effort to bivariate utility framework and presents new insights into the issue of optimal effort under uncertainty.
基金the financial support of the National Natural Science Foundation of China(No.71872186,71790603)Guangzhou Philosophy and Social Science Planning in 2022(No.2022GZYB21)The Fundamental Research Funds for Central Universities of Sun Yat-Sen University(No.22wklj03)
文摘This paper tests how market misvaluation affects corporate innovation.Unlike the“catering effect”observed in the US,we find that estimated stock overvaluation in China is strongly negatively associated with corporate innovation,conforming to our“risk-aversion”hypothesis.In China,misvaluation affects innovation via finance and management behavior channels.The effect is more significant in non-state-owned corporations than in state-owned corporations.Stock turnover rate and ownership concentration play moderating roles in the effect.The evidence sheds light on the relationship between market risks and corporate innovation in an emerging market.
