The Curse of Knowledge in Economic Settings: An Experimental Analysis

In economic analyses of asymmetric information, better-informed agents are assumed capable of reproducing the judgments of less-informed agents. We discuss a systematic violation of this assumption that we call the "curse of knowledge." Better-informed agents are unable to ignore private information even when it is in their interest to do so; more information is not always better. Comparing judgments made in individual-level and market experiments, we find that market forces reduce the curse by approximately 50 percent but do not eliminate it. Implications for bargaining, strategic behavior by firms, principal-agent problems, and choice under un-certainty are discussed

On Vertically Global, Horizontally Local Models for Astrophysical Disks

Disks with a barotropic equilibrium structure, for which the pressure is only a function of the density, rotate on cylinders in the presence of a gravitational potential, so that the angular frequency of such a disk is independent of height. Such disks with barotropic equilibria can be approximately modeled using the shearing box framework, representing a small disk volume with height-independent angular frequency. If the disk is in baroclinic equilibrium, the angular frequency does generally depend on height, and it is thus necessary to go beyond the standard shearing box approach. In this paper, we show that given a global disk model, it is possible to develop approximate models that are local in horizontal planes without an expansion in height with shearing-periodic boundary conditions. We refer to the resulting framework as the vertically global shearing box (VGSB). These models can be non-axisymmetric for globally barotropic equilibria but should be axisymmetric for globally baroclinic equilibria. We provide explicit equations for this VGSB which can be implemented in standard magnetohydrodynamic codes by generalizing the shearing-periodic boundary conditions to allow for a height-dependent angular frequency and shear rate. We also discuss the limitations that result from the radial approximations that are needed in order to impose height-dependent shearing periodic boundary conditions. We illustrate the potential of this framework by studying a vertical shear instability and examining the modes associated with the magnetorotational instability.Comment: 24 pages, 8 figures, updated to match published versio

Using the Java Media Framework to build Adaptive Groupware Applications

Realtime audio and video conferencing has not yet been satisfactorily integrated into web-based groupware environments. Conferencing tools are at best only loosely linked to other parts of a shared working environment, and this is in part due to their implications for resource allocation and management. The Java Media Framework offers a promising means of redressing this situation. This paper describes an architecture for integrating the management of video and audio conferences into the resource allocation mechanism of an existing web-based groupware framework. The issue of adaptation is discussed and a means of initialising multimedia session parameters based on predicted QoS is described

Determining the psychometric properties of the Enhancing Decision-making Assessment in Midwifery (EDAM) measure in a cross cultural context

© 2016 Jefford et al. Background: The ability to act on and justify clinical decisions as autonomous accountable midwifery practitioners, is encompassed within many international regulatory frameworks, yet decision-making within midwifery is poorly defined. Decision-making theories from medicine and nursing may have something to offer, but fail to take into consideration midwifery context and philosophy and the decisional autonomy of women. Using an underpinning qualitative methodology, a decision-making framework was developed, which identified Good Clinical Reasoning and Good Midwifery Practice as two conditions necessary to facilitate optimal midwifery decision-making during 2nd stage labour. This study aims to confirm the robustness of the framework and describe the development of Enhancing Decision-making Assessment in Midwifery (EDAM) as a measurement tool through testing of its factor structure, validity and reliability. Method: A cross-sectional design for instrument development and a 2 (country; Australia/UK) x 2 (Decision-making; optimal/sub-optimal) between-subjects design for instrument evaluation using exploratory and confirmatory factor analysis, internal consistency and known-groups validity. Two 'expert' maternity panels, based in Australia and the UK, comprising of 42 participants assessed 16 midwifery real care episode vignettes using the empirically derived 26 item framework. Each item was answered on a 5 point likert scale based on the level of agreement to which the participant felt each item was present in each of the vignettes. Participants were then asked to rate the overall decision-making (optimal/sub-optimal). Findings: Post factor analysis the framework was reduced to a 19 item EDAM measure, and confirmed as two distinct scales of 'Clinical Reasoning' (CR) and 'Midwifery Practice' (MP). The CR scale comprised of two subscales; 'the clinical reasoning process' and 'integration and intervention'. The MP scale also comprised two subscales; women's relationship with the midwife' and 'general midwifery practice'. Conclusion: EDAM would generally appear to be a robust, valid and reliable psychometric instrument for measuring midwifery decision-making, which performs consistently across differing international contexts. The 'women's relationship with midwife' subscale marginally failed to meet the threshold for determining good instrument reliability, which may be due to its brevity. Further research using larger samples and in a wider international context to confirm the veracity of the instrument's measurement properties and its wider global utility, would be advantageous