A uniqueness result for extending orders; with application to collective choice as inconsistency resolution

Two axioms about extending a weak ordering of a set Ω to its power set 2^Ω uniquely determine a lexicographic weak ordering of 2^Ω. The solution is applied to collective choice to resolve majority cycle inconsistencies, and also contrasted with Condorcet.     

Advertising and attachment: exploiting loss aversion through prepurchase information

We analyze a monopolist's optimal advertising strategy when consumers are expectation‐based loss‐averse and uncertain about their individual match value with the product. Advertising provides verifiable match value information. It modifies the consumers' reference point and hence their willingness to pay for the product. We show that the optimal advertising strategy pools different consumer types so that some consumers engage in ex ante unfavorable trade. Incomplete informative advertising thus has a persuasive effect. This provides a rationale for policies that force the monopolist to disclose important product characteristics, not only at the point of sale, but also in all promotional materials.     

Geschafft! – Bewertung der Pflege im DRG-System

Professionelle Erfassung und Dokumentation hochaufw?ndiger Pflege Mit Wirkung zum 1.1.2010 traten die pflegerelevanten OPS 2010 – die Weiterentwicklung der G-DRG um ein Instrument zur Ermittlung von hohem Pflegeaufwand – in Kraft. Der ermittelte OPS-Code führt zu einem h?heren Entgelt für die Krankenh?user. Zudem wurde eine neue Aufwandsstufe geschaffen. Damit ist es weltweit erstmals dem Deutschen Pflegerat gelungen, Pflege als Ertragsposition im Rahmen der DRG zu deklarieren.