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This research examines how price discounts—a classic marketing incentive—drive children's healthy choices in the understudied context of a developing economy. The authors partnered with UNICEF to launch three field experiments in Panamá among 2,418 children to examine four pillars of price discount promotions for children: what to discount (product selection), how to discount (message design), whom to target (children's age), and whether to discount again (repetition). They uncovered four previously undocumented insights. First, price discounts alone effectively increase demand among children 6–11 years of age, reconciling conflicting findings in prior literature. Second, product selection based on relative price—a particularly crucial factor in developing regions—drives opposing postpromotion effects: ironically, marketers should not discount expensive healthy options but rather moderately priced ones. Third, different from prior literature's practice of directly communicating final prices, discount messages that require older children to derive final prices are more effective. Fourth, repetition can amplify or undermine discounts' efficacy depending on message complexity and children's age. This research offers concrete guidelines for researchers and practitioners, uncovering both positive and negative effects of price promotions on children, and shedding light on price promotion interventions that most powerfully nudge children of different ages to act. [ABSTRACT FROM AUTHOR]

We show that larger trades incur lower trading costs in government bond markets ("size discount"), but costs increase in trade size after controlling for client identity ("size penalty"). The size discount is driven by the cross-client variation of larger traders obtaining better prices, consistent with theories of trading with imperfect competition. The size penalty, driven by the within-client variation, is larger for corporate bonds, during major macroeconomic surprises and during COVID-19. These differences are larger among more sophisticated clients, consistent with information-based theories. [ABSTRACT FROM AUTHOR]

The introduction of the Beijing–Shanghai high-speed rail (Launch) and the Wenzhou bullet-train collision (Crash) in China provided a unique occasion to study the effect of competition on price dispersion. Results show that price dispersion increased by about 48% after the Launch, as airlines offered greater discounts to price-elastic consumers than to price-inelastic consumers. By contrast, price dispersion decreased by about 55% after the Crash, as airlines raised prices more for price-elastic consumers than for price-inelastic consumers. [ABSTRACT FROM AUTHOR]

Soda taxes are an increasingly popular policy tool that discourages purchases of sugar-sweetened beverages. This study analyzes how emphasis on marketing conduct elements and their effectiveness might change after soda tax introductions. Prior studies on the effect of soda taxes focus on price increases but neglect other relevant marketing conduct tools (i.e., promotional frequency, promotional discount depth, and feature promotion frequency). This study documents the changes to marketing conduct elements and their effectiveness due to the introduction of soda tax across more than 200 retail stores in five markets. Findings related to price changes are consistent with prior literature; in addition, the study reveals a substantial, hitherto overlooked decrease in promotional frequency (−2%), promotional depth (−12%), and feature promotion frequency (−14%) compared with matched control markets, exacerbating the tax's negative sales effect. Introducing a soda tax also considerably influences the marketing conduct's effectiveness, such that consumers become less sensitive to changes in regular price, feature promotions, and the depth of the promotional discount but respond more to the presence of promotions. Importantly, marketing conduct and effectiveness changes do not align (e.g., while consumers become more sensitive to promotion frequency, managers often reduce them), a relevant insight for policy making. [ABSTRACT FROM AUTHOR]

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Price reductions take either an integrated form (e.g. a discount shown directly on the price tag) or a non-integrated form (e.g. a discount contained in a coupon sent to consumers and thus separate from the price tag). This research examines how non-integrated versus integrated promotions influence choices among vertically differentiated products. Under an integrated promotion (e.g. $10 off) applicable to multiple products (e.g. original list prices: $50 vs. $30), consumers directly compare these products' post-promotion final prices displayed on their price tags (after a reduction of $10: $40 vs. $20). In contrast, under a non-integrated promotion of the same monetary value, consumers simply compare these products' original list prices ($50 vs. $30) and neglect their post-promotion final prices, which require calculations. The list prices ($50 vs. $30; relative to the final prices: $40 vs. $20) as a basis for price comparison reduce the perceived price difference between these products. Consequently, a non-integrated promotion (compared to an integrated promotion) increases consumers' choice of higher-priced products. A series of experiments (N  = 5,187) demonstrate this effect and support the final price neglect mechanism. Furthermore, although attenuated, this effect still emerges for price reductions of a smaller magnitude or in a percent-off format. [ABSTRACT FROM AUTHOR]

Under servitization (one paradigm of non-ownership-transfer) business model such as sharing, a manufacturer is responsible not only for product design but also for maintenance. This paper deals with joint decision of product quality and maintenance under servitization. A model minimising total cost is formulated to obtain the optimal product quality, maintenance effort and maintenance times. We find that the total cost first decreases then increases with product quality, maintenance effort and maintenance times. Moderate quality and maintenance effort level are the best for the manufacturer, because too high or too low quality and effort cause too high total cost. However, preventive maintenance should be implemented as many times as possible until the failure cost is reduced to zero as long as each maintenance can save cost. Moreover, in the optimal joint decision, the product quality, maintenance effort and maintenance times are negatively correlated in pairs. In addition, we explore the impact of unit failure cost, product lifecycle, production cost, maintenance cost, and failure intensity on the manufacturer's optimal decisions. In extensions, we further take penalty cost, exponential failure distribution, discount rate, and customer usage into account. This paper provides insight for the manufacturer to jointly consider product design and maintenance under servitization. [ABSTRACT FROM AUTHOR]

We propose a loglinear present-value identity in which investment ("scale"), profitability ("yield"), and discount rates determine a firm's market-to-book ratio. Our identity reconciles existing influential market-to-book decompositions and facilitates novel insights from three empirical applications: (1) Both investment and profitability are important contributors to the value spread and stock return news variance. (2) Any cross-sectional return predictability has a mirror image in cash-flow fundamentals, providing asset pricing theories with additional moments to match. (3) The investment spread significantly improves the predictability of time-series variation in the value premium and justifies the poor performance of value in recent years. [ABSTRACT FROM AUTHOR]

Consumers have an aversion to purchasing near-expiry food products, which leads to enormous food waste and economic loss. Given the importance of this issue, past research has studied the effect of impending expiration date on product sales, but its focus has been limited to perishable food products. Since the expiration dates of non-perishable food products are treated as less important than those of perishable food products, we expect that the resulting effect on sales largely varies by shopping environment. With the growing importance of online shopping in food sales, we examine how the effect of impending expiration date differs between mobile and PC shopping environments. By analyzing a unique data set from an online salvage store, we find that consumer aversion toward near-expiry products is more salient in the PC shopping environment than in the mobile shopping environment. However, when there is a deeper price promotion, the between-channel difference is reduced as the sensitivity of an impending expiration date on sales increases in the mobile shopping environment. These findings not only represent novel contributions to the literature but also provide managerial implications for practitioners. [ABSTRACT FROM AUTHOR]

Recent research has highlighted a difference in the way consumers approach choice sets. Some consumers focus on products' quality benefits (vertical differentiation): their selections are driven by the level of quality obtained relative to the price paid. Other consumers focus on products' taste benefits (horizontal differentiation): their selections are driven by acquiring personal tastes at favorable prices. This article aims to investigate how consumers' benefit focus, a continuum anchored by quality and taste, drives their preferences between retailers differing in pricing strategies. All else equal, consumers who focus on taste benefits will prefer EDLP stores (infrequent discounters), while consumers who focus on quality benefits will prefer Hi-Lo stores (frequent discounters). Findings from our experiments and an analysis of consumer panel data corroborate this relationship. This work also shows the mediating role of perceived value and the effect of several moderators: the strength of the price–quality relationship, the pattern of discounts, and cherry-picking costs. [ABSTRACT FROM AUTHOR]

This paper connects food waste with food delivery service and aims to explore the impacts of the anti-food waste regulation on food waste generation and the selection of promotion strategy in an Online-to-Offline (O2O) supply chain. Using a game-theoretical approach, we focus on three prominent promotion strategies—a no-promotion strategy (N strategy), a price discount strategy (D strategy), or a volume-based price discount strategy (S strategy). Our research results indicate that the restaurant's choice of promotion strategy is almost independent of the intensity of anti-food waste penalties. However, the optimal strategy of the platform and the amount of waste are influenced by it. Under certain conditions, restaurants and platforms were able to achieve a win-win situation through promotion strategies. In the case of the relaxation of anti-food waste regulations, both restaurants and platforms tend to adopt the D strategy. In contrast, when penalties are stronger, platforms may be forced to accept D or S strategy because of the proactive behaviors of restaurants, even if they would prefer not to adopt promotion strategies. Overall, the government should consider bringing restaurants under regulation to protect platform revenue and effectively reduce food waste. [ABSTRACT FROM AUTHOR]

Introduction: Difamilast has proven to be an effective treatment for the treatment of atopic dermatitis (AD) in Japan, but its cost-effectiveness remains unknown. Therefore, the objective of the current study was to determine the cost-effectiveness of difamilast 1% compared with delgocitinib 0.5% in Japanese adult patients with moderate-to-severe AD and compared with placebo in Japanese adult patients with all-severity AD from a Japanese public health-care perspective. Methods: The analysis was conducted using a cost-effectiveness model from the Japanese public health-care perspective. This model had four health states ("clear," "mild," "moderate," and "severe") defined according to the Eczema Area and Severity Index score. The time horizon of the analysis was 1 year. Because the analysis period was short, no discount rate was applied. The proportions of patients previously estimated by the anchored matching-adjusted indirect comparison were implemented in the model. The model was further populated with data from the literature. The main model outcomes were quality-adjusted life-years (QALY), costs, and outcomes, including the incremental cost-effectiveness ratio. All prices were stated in JPY at the price level from 2018 April to 2019 March. One-way sensitivity analysis and probabilistic sensitivity analysis (PSA) were performed to assess the robustness of the results. Results: In the base case, the cost-effectiveness of difamilast 1% compared with delgocitinib 0.5% and placebo was JPY 827,054/QALY and JPY 1,518,657/QALY, respectively. The PSA showed that the cost-effectiveness of difamilast 1% compared with delgocitinib 0.5% and placebo had a 66.6% and 99.6% probability of being below the JPY 5 million/QALY threshold, respectively. Conclusion: The results suggest that difamilast 1% is a more cost-effective treatment option compared with delgocitinib 0.5% in Japanese adult patients with moderate-to-severe AD and compared with placebo in adult patients with all-severity AD from a Japanese public health-care perspective. [ABSTRACT FROM AUTHOR]

Introduction: We examined the prevalence of price promotions (i.e., proportion of products on price promotion) and the magnitude of price promotions (i.e., size of the price discount compared to the regular price) among online alcohol retailers. Methods: In August 2023, we web‐scraped product information for all alcoholic beverages available for sale in the online stores of two leading alcohol retailers in Sydney, Australia. Products were classified into five primary alcohol categories: wine, spirits, beer, cider and premix drinks. We considered three types of price promotion: temporary price discounts (e.g., 'was $5 now $4'), multi‐buy discounts (e.g., buy one get one free) and 'any six' discounts (e.g., 5% off when purchased in a bundle of any six similar products). The prevalence and mean magnitude of price promotions were estimated overall and by product category and price promotion type. Results: In total, data for 11,184 products were collected. Of these, 62% were the subject of at least one of the assessed forms of price promotion. The most frequently price‐promoted category was wine (91% of products), followed by spirits (35%), premix drinks (30%), cider (28%) and beer (21%). Of all price promotions, 61% were 'any six' discounts, 31% were temporary price discounts, and 7% were multi‐buy discounts. Across all price promotions, the mean magnitude of price discount relative to the regular price was 11% and ranged from less than 1% to 71%. Discussion and Conclusions: Policymakers should consider restricting price promotions as part of a suite of strategies to reduce alcohol‐related harms. [ABSTRACT FROM AUTHOR]

Health technology assessment (HTA) of advanced therapy medicinal products (ATMPs), such as high-cost and one-time cell and gene therapies, is particularly challenging. Outcomes-based agreements (OBAs) are a potential solution to mitigate the risks while providing access to patients but are not widely used across Europe. This study aimed to develop policy recommendations to support the acceptability and implementation of OBAs in Europe. A policy sandbox approach was used to engage with stakeholders and explore how HTA organizations can support reimbursement decisions regarding OBAs for ATMPs. A panel of 38 experts from across the European region was convened in 2 workshops, representing payers, HTA organizations, patients, registries, and an industry trade body. Policy recommendations were developed to support the appropriate consideration of OBAs for reimbursing highly uncertain technologies, such as ATMPs. If a positive HTA recommendation cannot be made at the proposed price, then a simple price discount reflecting the uncertainty is preferred over complex solutions such as OBAs. If an OBA is pursued, it should be designed collaboratively with all stakeholders to understand data collection feasibility and minimize burden to patients and providers. Payers are encouraged to approach OBAs as a tool for informed decision making, including a readiness to make negative reimbursement decisions based on unfavorable evidence. The study presents a policy framework for using OBAs in reimbursement decisions. OBAs must be carefully designed, focusing on appropriateness and the burden of implementation. The relevant authorities should be committed to making decisions in light of the resulting evidence. • Outcomes-based agreements (OBAs) with further data collection offer a reimbursement solution for highly uncertain and innovative health technologies, generating evidence and supporting patient access. • However, OBAs are a complex solution that should be considered only if a simpler solution cannot be reached through standard health technology assessment processes and pricing solutions. • Burdens associated with implementing OBAs and data collection should be minimized by designing agreements in collaboration with all the stakeholders involved. [ABSTRACT FROM AUTHOR]

We examine technology adoption and consumer welfare disparities across demographic groups using data from an online solar photovoltaic (PV) marketplace. Low-income households are 25% less likely to purchase solar through the platform and obtain 53% lower expected consumer surplus than high-income households. Moreover, Black and Hispanic households are relatively less likely to purchase solar through the platform and obtain lower consumer surplus than White and Asian households. We develop a method to decompose the drivers of consumer welfare disparities between demographic groups. Differences in demand fully account for the consumer surplus disparities between high- and low-income households and between White and Hispanic households. However, supply-side factors explain 37% of the consumer surplus gap between White and Black households. Black households get relatively fewer bids and face higher prices, and installers have higher implied costs to serve them. Finally, we assess counterfactuals that offer targeted price discounts to certain demographic groups. [ABSTRACT FROM AUTHOR]

Although prior research suggests that a bonus pack is perceived as a pure gain and is thus preferred by consumers over a price discount which is perceived as a reduction in loss, the empirical evidence in the literature is mixed about whether consumers prefer price discounts or bonus packs. This research investigates how consumers' regulatory orientation influences their preferences for these two promotional tactics. The authors proposes that prevention‐oriented consumers prefer a price discount over a bonus pack, but promotion‐oriented consumers prefer a bonus pack over a price discount. This effect is due to the regulatory fit between the promotional tactic and consumers' regulatory orientation. A price discount aligns with a prevention orientation to minimize losses, while a bonus pack aligns with a promotion orientation to maximize gains. Furthermore, the authors propose that this regulatory fit effect on preferences is sequentially mediated by the experience of feeling right and perceived value of the promotional tactics. Four studies using different products and different operationalizations of regulatory orientation in both field and online settings provide converging and robust evidence for the proposed effect and underlying mechanism. Finally, the authors show that the proposed effect is attenuated when consumers' level of involvement increases. [ABSTRACT FROM AUTHOR]

Background: Individuals with substance use disorder (SUD) are characterized by loss of control in drug use, such as increased impulsivity. Methamphetamine and methcathinone are psychostimulants, the use of which is accompanied by a high level of impulsivity. Whether individuals with methamphetamine use disorder (MUD) and methcathinone use disorder (MCUD) differ in different aspects of impulsivity is unclear. Methods: We investigated impulsivity traits and behaviors in individuals with MUD and MCUD. The Barratt Impulsiveness Scale (BIS), Sensation Seeking Scale (SSS), and delay discounting task (DDT) were assessed in individuals with MUD and MCUD and in healthy controls (HCs); then, we performed network-based analysis and computational modeling to understand the potential differences among the three groups. Results: MUD subjects scored higher than MCUD subjects in terms of motor impulsivity, nonplanning impulsivity, and total BIS scores. The network analysis revealed that there were no significant differences between MUD and MCUD subjects in any centrality indices. The discount rate of MUD and MCUD subjects was significantly greater than that of HCs, whereas there was no difference in the discount rate between the two addiction groups. Conclusions: These findings suggest that MUD and MCUD participants differ in impulsivity traits but not in impulsive behaviors, implying that impulsive traits and behaviors represent different aspects of impulsivity [ABSTRACT FROM AUTHOR]

This paper connects food waste with food delivery service and aims to explore the impacts of the anti-food waste regulation on food waste generation and the selection of promotion strategy in an Online-to-Offline (O2O) supply chain. Using a game-theoretical approach, we focus on three prominent promotion strategies—a no-promotion strategy (N strategy), a price discount strategy (D strategy), or a volume-based price discount strategy (S strategy). Our research results indicate that the restaurant’s choice of promotion strategy is almost independent of the intensity of anti-food waste penalties. However, the optimal strategy of the platform and the amount of waste are influenced by it. Under certain conditions, restaurants and platforms were able to achieve a win-win situation through promotion strategies. In the case of the relaxation of anti-food waste regulations, both restaurants and platforms tend to adopt the D strategy. In contrast, when penalties are stronger, platforms may be forced to accept D or S strategy because of the proactive behaviors of restaurants, even if they would prefer not to adopt promotion strategies. Overall, the government should consider bringing restaurants under regulation to protect platform revenue and effectively reduce food waste. [ABSTRACT FROM AUTHOR]

AbstractAfter discussion of the lender of last resort before Bagehot, we turn to what Bagehot actually said about the concept, the institutions involved, and appropriate lending terms for the Bank of England in a crisis. We examine the application of “Bagehot principles” in several nineteenth, twentieth and twenty-first century episodes. By operating through the discount houses in the nineteenth century, the Bank of England was able to focus on the quality of the paper presented for discounting, rather than on the solvency of each individual bank. Emphasis was thus on the stability of the system, not of individual banks. [ABSTRACT FROM AUTHOR]

Most of the time retailers are offered discount prices that are occurring at random points in time. One such scenario is the supplier offering discounts to the retailers to increase market share, cash flow, and to reduce the inventory of specific items. Surprisingly no models exist in the literature survey to model the randomly occurring discount price under discrete time. The primary objective of this article is to develop an optimal inventory policy for a retailer when the discount price arrives randomly and the time variable is discrete. Under such a scenario, the optimal inventory policy can be obtained by considering the variations in the purchase price as a discrete-time Markov chain. The renewal reward theorem is used to derive the expected profit per unit of time. To illustrate the application of the developed model a real case study is considered. The optimal solution of the developed model is compared with the EOQ policy and found that the developed model solution provides better profit. This justifies the significance of the developed model. The inventory manager can use the developed model as a tool to obtain the optimal solution for any two price problems that repeat randomly. [ABSTRACT FROM AUTHOR]

When prices of assets traded in a financial market are determined by nonlinear pricing rules, different parities between call and put options have been considered. We show that, under monotonicity, parities between call and put options and discount certificates characterize ambiguity‐sensitive (Choquet and/or Šipoš) pricing rules, that is, pricing rules that can be represented via discounted expectations with respect to non‐additive probability measures. We analyze how nonadditivity relates to arbitrage opportunities and we give necessary and sufficient conditions for Choquet and Šipoš pricing rules to be arbitrage free. Finally, we identify violations of the Call‐Put Parity with the presence of bid–ask spreads. [ABSTRACT FROM AUTHOR]

Trading picks is a common transaction observed in sporting leagues that employ player drafts. However, many current and revised draft formats employed by professional leagues allow for the trading of picks in the current year for those in the future. This in turn raises a question of an appropriate rate of discount which can be used to account for the delay in relinquishing current picks for those in the future. This study proposes a discount rate function in the Australian Football League based on the difference between a player's contribution to his team in his first season to that of his career. The findings reveal a varying discount rate that decreases with the progression of the draft ranging between 42% and 51%, given the increasing deviation of post draft outcomes in the same range. Furthermore, after discounting said picks for four years, the variance in pick reduced considerably as poor performers are delisted after their initial contract period. Upon adopting the model to evaluate previous trades, it is evident that almost all parties infer a higher value on current year selections than future selections (discounting future picks by up to 120%), seeking instant returns over deferred options. Hence, a decision maker trying to capitalise on pick value only would be better off deferring the right to choose in the current year. [ABSTRACT FROM AUTHOR]

Background: Despite progress in stroke therapy (e.g., revascularisation interventions by thrombolysis and/or thrombectomy, organised stroke care), many stroke survivors will have impairment of neurological function. We aimed to compare the cost-effectiveness of an oral natural formulation, MLC601, versus placebo in functional recovery among subjects receiving standard of care after an ischemic stroke of intermediate severity assessed with NIH Stroke Scale at baseline (b-NIHSS 8–14). Methods: A Markov cohort model with a 2-year time horizon was developed to simulate patients from a published randomised placebo-controlled clinical trial of MLC601 in their post-stroke functional recovery assessed by modified Rankin Score (mRS), from a health system perspective. Transition probabilities were derived from a multi-centre clinical trial in South East Asia. As cost and utility data were not collected in the trial, therefore we extracted them from the published literature. The main outcomes were incremental cost, incremental quality-adjusted life-year (QALY) gained, and incremental cost-effectiveness ratio (ICER). Besides base-case and sensitivity analyses, we performed subgroup analyses to explore the heterogeneity of patients with poor-prognosis factors (b-NIHSS 10–14, stroke onset to treatment time > 48 h, rehabilitation during first 3 month). All costs are expressed in 2022 Euro and USD, with an annual discount rate of 3% applied to costs and QALYs. Results: Base-case analysis showed that MLC601 was cost-effective compared with placebo, with €5,080 saved and 0.45 QALY gained, resulting in an ICER of -€11,352.50 per QALY gained. Similarly, results from subgroup analyses indicated that the use of MLC601 was a dominant strategy in all subgroups with poor-prognosis factors. Sensitivity analyses revealed the results were robust. Conclusion: Compared with placebo on top of standard stroke care, MLC601 was cost-effective in post-stroke functional recovery over two years. Due to the lack of cost and utility data from the study population, the results might not be generalizable to other settings. Further studies with country-specific data are needed to confirm the results of this study. Trial registration: URL http://www.clinicaltrials.gov. Unique identifier NCT00554723 November 7, 2007. [ABSTRACT FROM AUTHOR]

Most regulatory jurisdictions now require financial assurance for mines for post-closure activities, which typically include long-term monitoring and maintenance, and most importantly post-closure water treatment. Critical choices in calculating post-closure financial assurance include using a reputable cost estimation model to establish the amount needed for reclamation, selecting a realistic net return-on-investment for post-closure trust funds, and choosing the period of time over which the net present value calculation of the financial assurance is based. A conservative estimate of the amount of financial assurance is warranted to protect the public from assuming these costs. However, some regulatory agencies use financial assurance estimate practices that are arbitrary. The data and procedures needed to analyze and recommend conservative net present value calculations are readily available, but in too many instances are not being utilized. [ABSTRACT FROM AUTHOR]

The operations and maintenance phase is typically the longest phase within the building life cycle. Proper and consistent building maintenance is imperative for several reasons, including extending the life of buildings, improving occupants' comfort and safety, and ultimately saving on long-term costs. Budgets for maintenance should be foreseen. The costs of statutory periodic inspections, the costs of replacing worn materials and elements, the costs of periodic works and repairs, the costs of reactive maintenance and the costs of operation will be shown for the analyzed building—a school. This paper outlines the development of a 15-year maintenance plan and program for the building, covering the period from 2024 to 2038. The plan incorporates a discount rate of 3.64% and accounts for inflation when calculating costs. The present value of the costs of maintenance and operation of the building for 15 years is EUR 1,978,292.20 and the largest share of these costs is the operation cost of the building with EUR 1,599,002.18 (80.83%). A sensitivity analysis was conducted by varying the discount rate and analysis period, resulting in recalculated present values for maintenance costs. The analysis reveals a correlation of 26.73% between the present value of maintenance and operation costs over a 15-year period and the associated capital costs. [ABSTRACT FROM AUTHOR]

The net return from milk to the producers is defined as the aggregate market income from dairy products, after deducting all processing and marketing costs. The way to distribute this net return is through the payment system, which is usually based on multiple components, mainly with a reward for fat and protein and, in the case of the New Zealand dairy industry, a penalty for milk volume. Traditionally, the value of genetic improvement is evaluated using selection index theory assuming that there is an unlimited market where all dairy products can be sold in unlimited amounts at a fixed price and therefore economic values for fat and protein are assumed to be independent of demand. The objective of this study was to estimate the value of continuous genetic improvement evaluated using a model encompassing all the dairy producers in the industry where prices of the dairy products were determined by product specific supply-demand curves. Over 10 years of genetic improvement, the present value of the benefit (10% discount rate) was estimated to be $123,000 per farm. The corresponding benefit when the markets were assumed to have fixed commodity prices was $183,000 per farm. The model revealed that systematic genetic gains had a finite duration during which incremental benefits progressively declined and would be exhausted eventually. [ABSTRACT FROM AUTHOR]

Purpose: The aim of this study was to provide an updated European narrative review spanning the last decade, focusing on the cost-effectiveness of cochlear implants (CIs) for adults with severe to profound post-lingual hearing loss. Methods: This review encompasses both prospective and retrospective approaches, as well as cross-sectional and longitudinal trials conducted on CIs in adults. All studies related to European countries (Austria, Germany, Switzerland, the Netherlands, Sweden, the UK and Poland) were conducted in English and were published between 2012 and June 2023. Results: Nine studies were included in the analysis. The patients' ages ranged from 18 years to over 67 years, with sample sizes ranging from 20 to 100 patients; two of these studies were focused on single-sided deafness in adults. The Markov model was identified as the most commonly utilized analysis method. Conclusions: This review identified a general consensus on CI cost-effectiveness, despite substantial variability among countries in factors such as observation time horizons, cost-effectiveness thresholds, methods of cost collection, discount rates, CI eligibility criteria and country-specific health systems. Generally, CIs yield positive societal benefits for working-age individuals, potentially less for seniors. Early unilateral CI enhances cost-effectiveness, highlighting the importance of prompt candidate identification. A consistent undersupply of CIs relative to the percentage of potential recipients emerged across countries. Therefore, further investigation into subcategories such as single-sided deafness is warranted, along with country-specific cost analyses. Emphasizing the significance of detailed information on health systems and associated costs and benefits is crucial for facilitating comparisons across different settings. [ABSTRACT FROM AUTHOR]

This study aims to design the best off-grid integrated renewable energy (IRE) system for the electrification of twelve villages located in the Munsyari Block of district Pithoragarh, Uttarakhand state (India). Three off-grid IRE systems consisting of a solar photovoltaic (SPV) system/micro-hydro power (MHP)/biogas generator (BGG) and various battery energy storage (BES) devices like Lead-Acid (LA), Lithium-Ion (Li-Ion), and Sodium-Sulfur (NAS) have been proposed and optimized on the MATLAB to meet 8760-hour load demand. According to the simulation results, the total life cycle cost (LCC) and cost of energy (COE) of the SPV/MHP/BGG/NAS (base case) are INR 68.77 million and 16.77 INR/kWh, respectively. It offers approximately 20% and 100% lower LCCs than LA and Li-Ion battery-based IRE systems, respectively. The proposed system includes 676 SPV panels (NSPV), 648 BES devices (NBES), micro-hydro power of 25 kW capacity, biogas generator of 40 kW capacity, and power converter of 114 kW. Furthermore, the performance of the IRE system was evaluated by taking into account the load-resource associated uncertainties, and it was discovered that the LCC, COE, NSPV, NBES, and excess energy are increased by approximately 66%, 75%, 17%, 318%, and 373%, respectively, when compared to the base case. Finally, the sensitivity analysis has been conducted with the variable input parameters, such as inflation rate, discount rate, solar radiation, and dung collection efficiency. It is found that the variation in inflation rate significantly reduces the system LCC by 21.81 million INR. Whereas, variation in discount rate significantly increases the system COE by 5.72 INR/kWh. [ABSTRACT FROM AUTHOR]

The travel behavior of urban residents has gradually changed in response to the widespread adoption of ride-hailing services. This paper explores the travel mode choices made by individuals utilizing multiple forms of ride-hailing services. Eight scenarios were established, which considered combinations of activity types (commute or recreation), travel periods (peak or off-peak), and price levels (discounted or normal rates for ride-hailing). Moreover, socio-psychological variables such as perceived value, behavioral intention, and subjective norm were integrated into the analysis. The findings reveal that consumers of ride-hailing services generally exhibit characteristics such as being younger in age, having higher income, lack of car ownership, and having greater experience in using ride-hailing services. Furthermore, the inclusion of socio-psychological variables significantly improved the model's fitness. Travelers exhibit a preference for ride-hailing services in scenarios involving recreational activities, normal travel periods, and discounted ride-hailing prices. In conclusion, this study sheds light on the evolving travel behavior of urban residents in light of the widespread availability of ride-hailing services. The incorporation of socio-psychological factors is essential in comprehending and predicting travel mode choices. The insights derived from this research contribute to a nuanced understanding of the factors influencing the adoption of and preference for ride-hailing services among urban commuters. [ABSTRACT FROM AUTHOR]

Under the heading of sustainability challenges, this study incorporates payment procedures and inventory selections. The article's goal is to acquire insight into how the methods of payment affect perishable product inventory selections under the widely utilised carbon tax regime in view of policies to reduce emissions. Uncertainty arises as a natural consequence of the unpredictable behaviour of customers. Keeping these impacts in mind, an interval-valued inventory model is introduced, where all the related inventory parameters are considered interval-valued. In addition, the vendor offers an interval-valued discount rate to customers against advance payment. Due to the inventory parameters being chosen as interval-valued, the objective function is changed into an interval-valued form, and the corresponding differential equation is changed into an interval differential equation. To solve the interval-valued differential equation, a parametric approach to interval is introduced, and the corresponding interval-valued objective function is constructed. Interval order relations and the MATHEMATICA software are used to solve the objective function with interval values. To assess the validity of the proposed model, one numerical example is solved, and a sensitivity analysis of the ideal course of action is performed. [ABSTRACT FROM AUTHOR]

This study constructs a pricing strategy model that considers consumer busyness and low price duration to examine the effectiveness of limited‐time pricing in influencing consumer behavior. The results show that local store can develop a limited‐time promotion strategy to improve profit, and there is an optimal low price duration. As consumer busyness increases, online retailer's profit may decrease, as local store is better able to leverage consumer busyness to enhance competitiveness. Interestingly, when local store lower price, online retailer may actually need to increase price to obtain greater profit from consumers who missed out on store discounts. [ABSTRACT FROM AUTHOR]

Purpose: Given the growing acceptance of cashback offers (e.g. $10 PayPal cashback within 24 hours of the transaction) among retailers, this paper aims to understand how consumers evaluate them vis-à-vis traditional price-discounts and their subsequent impact on retailers' promotional strategies. Design/methodology/approach: Six experimental studies examine if and when consumers can discern differences in the time-of-reward-accrual (i.e. the waiting time associated with receiving promotional savings) of cashbacks and price-discounts. Building on evaluability theory, we propose that the time-of-reward-accrual of promotion is hard-to-evaluate. Put simply, consumers find it hard to assess the duration of waiting time associated with receiving promotions. Consequently, consumers' perceptions of cashbacks vis-à-vis price-discounts can be influenced by whether they evaluate both promotions simultaneously [joint-evaluation (JE) mode] or independently [single-evaluation (SE) mode]. Findings: The initial four studies show that the time-of-reward-accrual of promotions is hard-to-evaluate. Cashbacks appear just as appealing as price-discounts when consumers evaluate them independently (SE-mode) but lose their appeal when consumers view them alongside price-discounts (JE-mode). The next two studies further enhance the generalizability of our findings by replicating the observed effects for different purchase types (hedonic vs utilitarian) and varying promotional benefit levels (high vs low). Originality/value: By shedding light on evaluations of time-of-reward-accrual of promotion, this paper adds a new dimension to research on promotions. The paper also extends the application of evaluability theory beyond domains such as hiring, fairness judgments and product bundle assessments. The paper presents evaluation mode as a boundary condition to explain contradictory predictions from prior research for consumers' preferences for delayed vs immediate promotions. [ABSTRACT FROM AUTHOR]

Background: Indonesia is currently experiencing the fourth wave of the coffee trend, characterized by a sharp increase in the market size of the coffee shop business. This growth is due to the ease of starting a coffee business and the emergence of digital businesses. Coffee trends have triggered an increase in domestic consumption of coffee and other drinks like chocolate and tea. The powdered beverage industry as a supporting ingredient for beverage shops has also increased with the rapid growth of modern drinks. In the last five years, this business has also increased following the growth of the ready-to-drink coffee business. Frezzo is one of the Small Medium Enterprises (SMEs) of powdered beverage that enters the medium industry category which is quite strong in the B-to-B segment. Meanwhile, Frezzo is experiencing idle capacity and achieving low market share in beverage industry. Purpose: The objective of the research is to focus on the challenges encountered by PT Frezzo. The challenges include optimizing production capacity and market share in the rapidly evolving beverage industry through analyzing both conditions, internal and external, that influence the business growth of Frezzo Powder. This research aims to develop priorities that strategic for Frezzo’s business advancement, as well. Design/methodology/approach: This research describes analytical tools used to solve the problems which include Business Model Canvas (BMC); Porter's Five Forces; Strength, Weakness, Opportunity, Threat (SWOT); Internal External Matrix (IE Matrix) and Quantitative Strategic Planning Matrix (QSPM). Findings/Result: The results of the analysis found that Frezzo had weaknesses in the retail sales aspect, lack of promotion and marketing network. The study concludes that there are priority strategies can be mapped into a new business model that should be applied rapidly. The priority strategies involve addition of new partnerships to cooperate with, such hotels, restaurants and cafes (horeca). Another priority is addition of Frezzo outlets and retailers in considerable towns. And then, new product differentiation in practical drinks, size variations, along with intense advertisement and promotions via Google, TikTok and YouTube. The last priority is addition of horeca sales representatives and procurement of fully automatic machines. Conclusion: To optimize production capacity and market share in the rapidly evolving beverage industry, company focus market penetration through infiltration of market comprises activities of promoting, discount or reduction of price, and comprehensive in distributing product. In this case, the activities of market penetration are conducted by extending avenues in reseller and Frezzo stores. Originality/value (State of the art): This research is useful for similar companies to provide an overview for business development by taking advantage of opportunities, level of competition and alternative strategies according to market segments and company characteristics. [ABSTRACT FROM AUTHOR]

We decompose the total value loss around firms' announcements of financial restatements into components arising from investors' revisions in cash flows and discount rates. First, relative to population benchmarks, restatements represent circumstances in which the cash flow component becomes more important in explaining valuations. While we find significant contributions from both sources, with the cash flow component explaining more than 33% of the variation in stock returns surrounding restatement announcements, this component explains only 13% to 22% in comparable non-restating firms. When restatements are caused by underlying financial fraud, the discount rate impact becomes more important, explaining about 88% of return variation. On the contrary, the cash flow impact is relatively larger for firms with higher earnings persistence or restatements associated with errors. Our decomposition of the value loss helps explain returns in the post-announcement period. Firms with a higher relative discount rate impact experience a significant downward stock price drift after the initial announcement-related price decline. For firms with a higher relative cash flow impact, the evidence suggests the initial impact of the restatement announcement is more complete with no subsequent drift pattern. Our findings close gaps in the evidence on financial restatements and extend the literature on the drivers of stock price movements. [ABSTRACT FROM AUTHOR]

This study investigates the short-run responses and long-run performances of seven industries' stock indices with discount rate changes in the firms listed in the Pakistan Stock Exchange (PSE) between 2009 and 2018. The results indicate that short-run returns react positively to discount rate reduction, excluding the oil industry and vice versa. Therefore, long-term performance responds favourably with a reduction in the discount rate. Discount rate changes affect the apparel industry the most, while the oil industry is the least on the list. This study serves potential investors for their returns against investment among these industries. Furthermore, it works as a guideline for regulators and policymakers to manage fluctuations for a stable capital market. [ABSTRACT FROM AUTHOR]

The Current Expected Credit Loss (CECL) Financial Accounting Standards Board (FASB) standard that goes into effect for major banks in 2020 contains a serious conceptual error. Using the contractual rate rather than the hurdle rate (the competitive rate on a loan for which there is no expected loss) as the rate to discount expected cash collections gives rise to accounting losses where no economic losses exist. This can have a profound effect on required capital and hence lending, especially in economically depressed episodes. [ABSTRACT FROM AUTHOR]

Investigating novel collaboration modes is imperative for enhancing the cooperative ties between brand retailers and anchors as live streaming commerce moves progressively towards standardization. In this paper, we study a live streaming commerce supply chain system composed of a brand retailer and an Internet celebrity anchor. We also develop the pricing and live streaming service effort decision models under the equal proportion settlement mode of pit fee for the brand retailer and anchor. The research results show that under certain conditions, there is an optimal joint decision on price discount and live streaming service effort. In addition, the equal proportion settlement mode provides security for brand retailers but tends to expose the anchor's capabilities of live streaming sales. Consequently, anchors can only obtain a higher proportion of the pit fee by putting in more effort. Finally, through numerical analysis, we presented the impact of key parameters on the optimal decisions, demand, and profits of brand retailers and anchors. Based on these findings, we provided relevant managerial insights, offering valuable guidance and reference for the live streaming commerce industry. [ABSTRACT FROM AUTHOR]

Intertemporal decision making refers to the behavior of making decisions after weighing the costs and benefits of two or more outcomes at different time points. This study explores the moderating effect of self-concept clarity on the influence of future self-continuity on intertemporal decision-making and the mediating effect of future outcome consideration, aiming to establish a mediated moderating model. In Study 1, we recruited 370 participants via questionnaire to explore the relationship between future self-continuity and intertemporal decision-making, as well as the moderating effect of self-concept clarity. The results showed that: (1) Future self-continuity significantly negatively predicted the time discount rate of intertemporal decision-making. (2) Selfconcept clarity significantly negatively moderated the relationship between future self-continuity and the time discount rate of intertemporal decisionmaking. In Study 2, we recruited 234 participants using an experimental method and divided them into high and low future self-continuity groups to explore the mediating effect of future outcome consideration and the moderating role of self-concept clarity in the influence of future self-continuity on intertemporal decision-making. The results indicated that: (1) Self-concept clarity significantly negatively moderated the impact of future self-continuity on future outcome consideration. (2) Future outcome consideration mediated the moderating effect of self-concept clarity on the influence of future self-continuity on intertemporal decision-making. The findings indicated that future selfcontinuity negatively impacted the time discount rate in intertemporal decisionmaking. Furthermore, self-concept clarity could indirectly regulate the effect of future self-continuity on intertemporal decision-making through future outcome consideration. These two studies contribute to a better understanding of intertemporal decision-making behavior in different states, help reduce cognitive bias through rational analysis of current states, achieve maximum life benefits, and enrich empirical research in the fields of future self-continuity and intertemporal decision-making. [ABSTRACT FROM AUTHOR]

Background: This study aims to expand on the concept of peace and health by drawing from Keynes' theory of the economic consequences of peace, in light of the global pandemic experienced in 2020 due to COVID_19. Methods: In this paper, I will elaborate on the concept of 'security', as an indicator of peace in the time of biological shocks, in order to expand the definition of Keynesian precautionary motivation. This puts forth a new monetary policy model developed to make contributions to achieving global peace. In so doing, I will calculate the optimal growth rate of discount rate through utilizing the Global Peace Index (GPI), adjusted by the Case Fatality Risk (CFR) of COVID-19 in a dynamic shopping time monetary model. This analysis is comprised of the top 15 GDP countries as well as the 10 most and least peaceful countries in 2020. Results: The results indicate that households in more peaceful and healthy countries tend to hold less money compared to those in less peaceful and healthy countries. Besides, the discount rate needs to be reduced due to the outbreak of COVID-19 and the decrease in the level of peace in the economy. Conclusion: Insofar as the imposition of fines through international legal circles on countries with an insignificant health and peace policy will increase the cost of liquidity, other alternative methods of financing will be affor dable for the countries. [ABSTRACT FROM AUTHOR]

Background: Implementing large-scale carbon sink afforestation may contribute to carbon neutrality targets and increase the economic benefits of forests in rural areas. However, how to manage planted forests in China to maximize the joint benefits of timber production and carbon sequestration is still unclear. Therefore, the present study quantified the effects of different rotation lengths, thinning treatments, site quality (SCI), stand density (SDI), and management costs on the joint benefits of carbon sequestration and timber production based on a stand-level model system developed for larch plantations in northeast China. Results: The performances of the different scenarios on carbon stocks were satisfactory, where the variations in the outcomes of final carbon stocks could be explained by up to 90%. The joint benefits increased significantly with the increases of SDIs and SCIs, regardless of which rotation length and thinning treatments were evaluated. Early thinning treatments decreased the joint benefits significantly by approximately 131.53% and 32.16% of middle- and higher-SDIs, however longer rotations (60 years) could enlarge it by approximately 71.39% and 80.27% in scenarios with and without thinning when compared with a shorter rotation length (40 years). Discount rates and timber prices were the two most important variables affecting joint benefits, while the effects of carbon prices were not as significant as expected in the current trading market in China. Conclusions: The management plans that promote longer rotations, higher stand densities, and no thinning treatments can maximize the joint benefits of carbon sequestration afforestation and timber production from larch plantations located in northeast China. Highlights: A compatible model of stand volume and carbon for larch plantations was developed. Thinning decreased the joint benefits of higher SDIs, but longer rotations enlarged it. Discount rates and timber prices predominated the joint benefits. The effects of carbon prices on the joint benefits were unconspicuous. [ABSTRACT FROM AUTHOR]

In 25 years, research on reputation-based online markets has produced robust evidence on the existence of the so-called reputation effect, that is the positive relation between online traders' reputations and these traders' market success in terms of sales and prices. However, there is an ongoing debate on what the size of the reputation effect means. We argue that the rate of truthful feedback that traders leave after completed transactions is negatively related to the size of the reputation effect. The higher the rate of truthful feedback, the quicker will untrustworthy traders be screened and disincentivized to enter the market. With mostly trustworthy traders entering the market, buyers will demand smaller price discounts from market entrants without a good reputation. We test this mechanism empirically in two laboratory experiments. In both experiments, we systematically vary the probability with which information about sellers' behavior in an economic trust game is recorded and shown to future interaction partners of these sellers. In the second experiment, we introduce competition among sellers by allowing buyers to choose one of two sellers in each interaction. We find that sellers give discounts to buyers to build or repair their reputation and that sellers who give discounts or have a good reputation are trusted more. However, we do not find support for our hypothesis that a higher feedback rate significantly decreases sellers' propensity to give discounts. We argue and show in exploratory analyses that this is likely due to the high level of unconditional trust buyers exhibit towards sellers without a reputation. Yet, seller competition increases the propensity to offer discounts among sellers without a reputation the most. [ABSTRACT FROM AUTHOR]

Live-streaming commerce (LSC) has been adopted by an increasing number of supply-chain enterprises to enhance their market competitiveness. However, the question of who will lead live-streaming e-commerce in the supply chain (SC-LSC) is a key issue, especially when there is equity cooperation between upstream and downstream enterprises. Three main SC-LSC models are examined: independent SC-LSC run by manufacturers, independent SC-LSC run by retailers, and cooperatively run SC-LSC. Then, a novel LSC demand function composed of online popularity, price discount and sales conversion rate is proposed. Furthermore, four scenarios have been comprehensively investigated considering whether there is an online-to-offline drainage effect and whether there is equity cooperation. Regardless of the scenario, having both parties reach an agreement on a given SC-LSC model is difficult, and even equity cooperation cannot promote SC-LSC cooperation. In most cases, manufacturers tend to offset the losses caused by the drainage effect by adopting high wholesale prices, which will in turn exacerbate retailers' resistance to SC-LSC. These findings provide insight into how LSC is modeled and how LSC can be better implemented in various types of supply chains such as that of Gree Electric. [ABSTRACT FROM AUTHOR]

This study employs an online experimental approach to explore why an appropriate message appeal that resonates with consumers is crucial during a recession, rather than reducing investments in marketing, such as advertising spending. Drawing upon congruity theory and the accessibility–diagnosticity framework, the results of this experimental study demonstrate an interaction effect between message appeals and the state of a recession on consumers' booking intentions. Furthermore, this effect is mediated by perceived advertisement diagnosticity, but only in the context of a price discount appeal in advertisements during a recession. This research contributes to extending the existing literature by examining the dynamic relationship between message appeals and the state of a recession on consumers' behavioral intentions, mediated by their perceived advertisement diagnosticity. This explanation plays a significant role in bridging the gap in the lack of theoretical reasoning regarding relationships beyond the conceptual threshold through empirical testing. Second, the results of this study suggest more effective and actionable propositions for marketing and advertising professionals. [ABSTRACT FROM AUTHOR]

Aims: The long‐term cost‐effectiveness of MitraClip in heart failure patients with secondary mitral regurgitation is still unclear. This study aimed to evaluate the long‐term cost‐effectiveness of MitraClip added to guideline‐directed medical therapy vs. guideline‐directed medical therapy alone in heart failure patients with secondary mitral regurgitation from the perspective of the healthcare systems of mainland China, the United Kingdom, Germany, and the United States. Methods and results: A two‐stage (decision + Markov) model was built. Health utilities were defined by the New York Heart Association class, heart failure re‐hospitalization, and death and were calculated based on the 5 year follow‐up results of the Cardiovascular Outcomes Assessment of the MitraClip Percutaneous Therapy for Heart Failure Patients With Functional Mitral Regurgitation trial. Direct healthcare costs were derived from the nationally representative data. Future utilities and costs were discounted at country‐specific rates. The primary outcome was the lifetime incremental cost‐effectiveness ratio. The mean age of the base case in our model was 72.2 years. Over a lifetime horizon, treatment with MitraClip was associated with 829 fewer heart failure re‐hospitalizations per 1000 treated patients. The MitraClip treatment was associated with incremental quality‐adjusted life‐year gains of 0.71, 0.76, 0.78, and 0.78, as well as incremental cost‐effectiveness ratios of ¥468 462, £28 910, €26 045, and $71 199 per quality‐adjusted life‐year for a lifetime horizon in mainland China, the United Kingdom, Germany, and the United States, respectively. In probabilistic sensitivity analysis, 0.2%, 59.4%, 99.6%, and 84.7% of patients were cost‐effective in mainland China, the United Kingdom, Germany, and the United States at the country‐specific willingness‐to‐pay thresholds. Conclusions: MitraClip + guideline‐directed medical therapy was cost‐effective in heart failure patients with secondary mitral regurgitation in the United Kingdom, Germany, and the United States, but not in mainland China from the perspective of the national healthcare system. [ABSTRACT FROM AUTHOR]

Earlier studies have linked equity market liberalization to growth in emerging markets. Some conclude liberalization causes growth, whereas others contend contemporaneous economic policies and conditions play important roles. The causal argument contends that foreigner investability in public firms leads to lower discount rates and greater share issuance, investment, and efficiency. Using three separate measures of foreign investability, we do not find these effects. Moreover, common de jure foreigner-investability measures are poor de facto measures. Economic indicators, not directly influenced by equity market liberalization, also grow faster in countries with more investable firms. Our findings suggest foreigner investability cannot fully explain the equity-market-liberalization-growth relation. (JEL F30, F38, G30, G24, G15) [ABSTRACT FROM AUTHOR]

Background: Currently, the recombinant subunit vaccine and live attenuated vaccine in the prevention of herpes zoster are approved for marketing in China. This study aims to evaluate the cost-effectiveness of the recombinant subunit vaccine and the live attenuated vaccine in the Chinese population. Methods: A decision tree–Markov analysis model was utilized to estimate expected costs and quality-adjusted life years (QALYs), comparing the lifetime cost-effectiveness of vaccination with the recombinant subunit vaccine (London, United Kingdom, Shingrix, GSK) to that of the live attenuated vaccine (Changchun, China, Ganwei, Changchun Bcht) in the Chinese population, with the primary outcome measure being the incremental cost-effectiveness ratio (ICER). Results: In the base-case analysis, the ICERs for the recombinant subunit vaccine ranged by age from USD 3428 to USD 5743 per QALY, while the ICERs for the live attenuated vaccine ranged from USD 4017 to USD 18,254 per QALY, compared with no vaccination. Among all age groups, the category of 60 to 69 years was the optimal age for vaccination. The results were most sensitive to changes in herpes zoster incidence, vaccine efficacy, and discount rate. Even with a two-dose compliance rate of 20% for the recombinant subunit vaccine, vaccination remained cost-effective. ZVL would need to reduce costs by at least 12.2% compared to RZV to have a cost-effectiveness advantage. Conclusions: The recombinant subunit vaccine and the live attenuated vaccine were both cost-effective in the Chinese population, but, relatively, the recombinant subunit vaccine had a greater advantage in disease prevention and cost-effectiveness in all age groups above 50 years. [ABSTRACT FROM AUTHOR]

Background: Breast cancer (BC) is one of the most common cancers worldwide. The inevitability of drug resistance to initial anti-HER-2 therapy necessitates the emergence of second-line anti-HER-2 drugs which exhibit a promising outlook. Consequently, it is imperative to appraise their efficacy through network metaanalysis and ascertain their comparative cost-effectiveness. Methods: The data used in our analysis were acquired from patients enrolled in the EMILIA, DESTINY-Breast03, and PHOEBE phase III randomized clinical trials. A partitioned survival model was used for patients diagnosed with HER-2-positive metastatic Breast cancer. The model was crafted with a time horizon of 10 years, operating on a 21-day cycle and incorporating a 5% discount rate for both costs and outcomes. The willingness-to-pay threshold was set at $36,058.06 per quality-adjusted life year (QALY). The impact of parameter uncertainty on the findings was assessed using a one-way deterministic sensitivity analysis and probability sensitivity analysis. Findings: Within the model encompassing 1782 patients, the utilization of pyrotinib plus capecitabine (PC) treatment yielded an additional 0.70 QALY in comparison to T-DM1, resulting in an incremental cost-effectiveness ratio (ICER) of $31,121.53 per QALY gained. Similarly, the administration of T-DXd treatment led to an additional 0.80 QALY compared to T-DM1, resulting in an ICER of $153,950.19 per QALY gained. The PC strategies are considered more costeffective than T-DXd when the WTP threshold is set at $36,058.06 per QALY. However, this method is not cost effective for T-DXd. The probability of the PC strategies being cost-effective was 62%, whereas the probability of T-DXd was 0% when compared to T-DM1. Conclusion: PC is a cost-effective therapy for patients afflicted with HER-2-positive metastatic BC compared to T-DM1 from the perspective of China at a WTP threshold of $36,058.06 per QALY. Nevertheless, T-DXd is not as costeffective as T-DM1, considering its current medication pricing. Therefore, reducing the cost of T-DXd could improve its overall cost-effectiveness. [ABSTRACT FROM AUTHOR]

The closed-loop supply chain (CLSC) focusing on product recycling is getting more and more attention. The question of how to motivate CLSC participants to implement product recycling effectively has come into focus. We study the optimal strategy of a two-echelon CLSC under different incentive mechanisms, characterize the return rate in the form of a state equation for its dynamic behavior and construct a closed-loop supply chain dynamic model. Subsequently, we discuss two incentives—the cooperative promotion incentive and wholesale price discount incentive—based on the no-incentive game and investigate the optimal strategy, steady-state return rate, and revenue of each CLSC player in the three scenarios. Then, the choice of incentives by manufacturers and retailers under different scenarios is determined by comparative analysis. The results indicate that retailers always favor the cooperative promotion incentive. For manufacturers, the wholesale price discount incentive is more advantageous only when the recycling efforts outperform retailers' promotion efforts in unit cost. In most other cases, the cooperative promotional incentive is more popular since it will generate more revenue for each participant and the entire supply chain. Moreover, there is a Profit-Pareto-improvement region when the CLSC implements the cooperative promotion incentive. Plain language summary: This research studies a closed-loop supply chain (CLSC) consisting of a manufacturer and a retailer, in which the manufacturer is responsible for product recycling. We characterize the return rate in the form of a state equation and construct the dynamic model of the CLSC, fully considering the dynamic peculiarities of recycling. Then three models based on the no-incentive game, the cooperative promotion incentive and the wholesale price discount incentive are conducted. We also conduct a comparative analysis of the optimal strategy and revenue in three scenarios to further study whether the implementation of these incentives will benefit all CLSC members in terms of increased incomes, improved environmental performance (improved return rates) and enhanced social performance (increased sales). The results show that the cooperative promotion incentive is beneficial to retailers and CLSCs. It can realize the Profit-Pareto improvement and enhance the economic, environmental and social performance of CLSCs. [ABSTRACT FROM AUTHOR]