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virt-x

virt-x  

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Overview Page
An order-driven electronic market for pan-European blue-chip securities, created in 2001 from London's Tradepoint Investment Exchange with the involvement of the SWX Swiss Exchange. Clearing is ...
Tradepoint Investment Exchange

Tradepoint Investment Exchange  

Reference type:
Overview Page
A former order-driven electronic market for blue chip securities in London. It was superseded by virt-x in 2001.
non-linear model

non-linear model  

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A model that involves a non-linear combination of its parameters. For example,E(Y)=α+βeyx, where α, β, and γ are parameters and x and y are variables.
vendor placing

vendor placing  

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Overview Page
A type of placing used as a means of acquiring another company or business. For example, if company X wishes to buy a business from company Y, it issues company X shares to company Y as payment with ...
growth rate

growth rate  

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Overview Page
The proportional or percentage rate of increase of any economic variable over a unit period, usually a year. If a variable measured over discrete time intervals grows from 1 to 1 + x, this is a ...
weighted average

weighted average  

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An average giving weights to different numbers in proportion to their importance. The weighted average of n numbers x1, x2,…, xn is found by taking the sum of the numbers times their weights w1, ...
Measuring Health Utility in Economics

Measuring Health Utility in Economics   Reference library

José Luis Pinto Prades, Arthur Attema, and Fernando Ignacio Sánchez Martínez

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
11,224 words
Illustration(s):
9

...Subjects were presented with several health states (e.g., living with migraine x days per week). Subjects were asked (in one case) three TTO questions (e.g., living x years with migraine 4.5 days per week versus y years in full health). They used three values for x : 5, 10, and 20 years. The pattern was very clear: subjects produce a higher value for y for higher values of x . However, in a direct choice, they preferred the profile with the shorter value of x . Subjects were not willing to modify their responses even when they acknowledged that...

Machine Learning in Policy Evaluation: New Tools for Causal Inference

Machine Learning in Policy Evaluation: New Tools for Causal Inference   Reference library

Noémi Kreif and Karla DiazOrdaz

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
15,654 words
Illustration(s):
11

...= 1 , X ] − E [ Y | A = 0 , X ] , reducing the problem to one of estimation of these conditional expectations ( Hill, 2011 ; Imbens & Wooldridge, 2009 ). Denoting the true conditional expectation function for the observed outcome as μ ( A , X ) = E [ Y | A , X ]  , the regression estimator for the ATE can be obtained as ψ ^ r e g = 1 N ∑ i = 1 N { μ ^ ( A = 1 , X i ) − μ ^ ( A = 0 , X i ) } , (7) where μ ^ ( A = a , X = x ) can be interpreted as the predicted potential outcome for level a of the treatment among individuals with covariates X = x , and...

Health Policy and Finance Challenges in Latin America and the Caribbean: An Economic Perspective

Health Policy and Finance Challenges in Latin America and the Caribbean: An Economic Perspective   Reference library

André Medici and Maureen Lewis

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
14,843 words
Illustration(s):
17

...Financing of Public Health Spending in LAC Countries: 2015 Countries SHI Tax Revenues Argentina X X Bahamas X Barbados X Belize X X Bolivia X X Brazil X Chile X Colombia X Costa Rica X D. Republic X Dominica X Ecuador X El Salvador X Guatemala X Guyana X Haiti X Honduras X Jamaica X Mexico X X Nicaragua X X Panama X Paraguay X X Peru X X St. Kitts and Nevis X X St. Vincent and Grenadines X St. Lucia X X Suriname X X Trinidad and Tobago X X Uruguay X X Venezuela X ...

The Effect of Education on Health and Mortality: A Review of Experimental and Quasi-Experimental Evidence

The Effect of Education on Health and Mortality: A Review of Experimental and Quasi-Experimental Evidence   Reference library

Titus J. Galama, Adriana Lleras-Muney, and Hans van Kippersluis

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
29,925 words
Illustration(s):
41

...17 in the main text. Consumption: The comparative dynamic effect of the minimum school-leaving age S on the optimal consumption path X C ( t ) is given by       −   1 q A ( t ) ∂ 2 U ∂ X C 2 e − ρ t − q h / a ( t ) ∂ 2 d H ∂ X C 2   ∂ X C ( t ) ∂ S ¯ = −   1 q A ( t ) 2 ∂ U ∂ X C e − ρ t ×   ∂ q A ( t ) ∂ S ¯ −   ∂ d H ∂ X C   ×   ∂ q h / a ( t ) ∂ S ¯ +   1 q A ( t ) ∂ 2 U ∂ X C ∂ H − q h / a ( t ) ∂ 2 d H ∂ H ∂ X C ×   ∂ H ( t ) ∂ S ¯ (33) where the term on the LHS of Equation 33 is positive under the plausible assumptions of diminishing marginal...

Wanniski, Jude

Wanniski, Jude (1936–2005)   Reference library

The Biographical Dictionary of American Economists

Reference type:
Subject Reference
Current Version:
2010
Subject:
Social sciences, Economics
Length:
1,084 words

...relief. When Nixon removed the controls in early 1973 , inflation once again soared. The dollar again came under repeated attack. Matters worsened in the aftermath of Watergate and the Yom Kippur War. Wanniski, meanwhile, began to wonder why when the government attempted Result X, it hoped for Result Y but obtained result Z. Two maverick economists began to provide some answers. The first was Arthur Laffer of the University of Southern California, the second Robert Mundell of Columbia. Laffer drew inspiration from the classical French economist ...

From Clinical Outcomes to Health Utilities: The Role of Mapping to Bridge the Evidence Gap

From Clinical Outcomes to Health Utilities: The Role of Mapping to Bridge the Evidence Gap   Reference library

Mónica Hernández Alava

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
10,260 words

...a given set of conditioning variables x = X , the conditional distribution, f ( y | X ) , describes the distribution of utilities in the subpopulation of patients for whom the conditioning variables take the combination of values X ; individuals with the same observable characteristics X differ in their observed utilities due to an unobserved random component. The conditional expectation, E [ y | X ] , is the mean of the conditional distribution, f ( y | X ) ; individuals with the same observable characteristics X share the same mean. Therefore, the...

Koopmans, Tjalling Charles

Koopmans, Tjalling Charles (1910–85)   Reference library

The Biographical Dictionary of American Economists

Reference type:
Subject Reference
Current Version:
2010
Subject:
Social sciences, Economics
Length:
5,230 words
Illustration(s):
12

...subsumes the above demand-and-supply model as a special case: Here, y t1 and y t2 stand for the quantity and price (of wheat, say) at time t , x t1 ≡ 1 is the constant term, x t2 is rainfall and x t3 another variable, at time t , and the ∊ tj are random variables with zero means. The first equation is the demand function, the second equation the supply function. The y tj are the endogenous, and the x tj the exogenous variables in the system (S), which Koopmans called the ‘structure’. Provided ϒ 21 ≠ ϒ 22 (the demand and supply curves are not...

Valuation of Health Risks

Valuation of Health Risks   Reference library

Henrik Andersson, Arne Risa Hole, and Mikael Svensson

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
12,487 words
Illustration(s):
33

...$X to participate in the program, where X ranged from $10 to $2,000 per year. If they answered yes (no) to the initial WTP question, a second question followed in which they were asked if they would participate in the program if the cost was $X × 2 ( $X × 0.5 ). To set the range of the initial cost (bid) vector, the authors assessed the implicit minimum and maximum value per statistical illness covered. With a range from $10 to $2,000, the implicit value ranges from < $50,000 (which results from not paying $10 for the 2/10,000 risk reduction) to > $20...

Consumer Credit

Consumer Credit   Reference library

The Oxford Encyclopedia of Economic History

Reference type:
Subject Reference
Current Version:
2005
Subject:
Social sciences, Economics
Length:
2,178 words

... 222,194 222,194 11 United Kingdom 73,287 3,678 76,965 8 Finland 8,505 8,505 7 Belgium 11,355 196 11,551 6 France 66,842 66,842 6 Spain 34,325 0 34,325 6 Netherlands 12,478 12,478 3 Italy 20,682 0 20,682 2 Portugal 2,189 2,189 2 Greece 415 415 1 Switzerland 3,510 3,510 1 S ources : Consumer credit data from Organisation for Economic Cooperation and Development, Financial Statistics Monthly , Section 2, Domestic Markets—Interest...

Design of Discrete Choice Experiments

Design of Discrete Choice Experiments   Reference library

Deborah J. Street and Rosalie Viney

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
12,342 words
Illustration(s):
9

... n is given by π n j = ∫ p n j ( z ) ϕ ( z 1 ) ϕ ( z 2 ) … ϕ ( z p ) d z , where p n j ( z ) = exp ( x j β ) ∑ i exp ( x i β ) . For each choice set, the corresponding information matrix is denoted by I θ ( X n ) 3 , where I θ ( X n ) = M ′ n Δ n − 1 M n M ′ n Δ n − 1 Q n Q n ′ Δ n − 1 M n Q n ′ Δ n − 1 Q n , (2) with M n = ∫ ( diag ( p n , z ) − p n , z p ′ n , z ) X n f ( z 1 ) ϕ ( z 2 ) … f ( z p ) d z ,   Q n = ∫ ( diag ( p n , z ) − p n , z p ′ n , z ) X n Z f ( z 1 ) ϕ ( z 2 ) … f ( z p ) d z , p n , z = ( p n 1 ( z ) , ( p n 2 ( z ) , … , p n m ( z ) )...

Heterogeneity in Cost-Effectiveness Analysis

Heterogeneity in Cost-Effectiveness Analysis   Reference library

Ciaran N. Kohli-Lynch and Andrew H. Briggs

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
11,728 words
Illustration(s):
28

...that explanatory variables can be included in the regression model to elicit the effect of covariates on cost-effectiveness. An example of such a regression model, with p covariates, is presented in Model 2. N M B i = α   +   ∑ j = 1 p β j x i , j + δ t i + ε i (2) Inclusion of the p predictors, x 1 through x p , in Model 2 controls for variables that may confound estimates of δ . The regression coefficients, β j , represent the unitary effect of the covariates on cost-effectiveness. However, individuals are typically randomized into treatment...

New Technologies and Costs in Healthcare

New Technologies and Costs in Healthcare   Reference library

Vincenzo Atella and Joanna Kopinska

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
15,373 words

...(Claude Bernard), to anesthesia (William Green Morton), antisepsis (Joseph Lister and Ignaz Semmelweis), x-rays (Wilhelm Roentgen), germ theory (Louis Pasteur and Robert Koch), and psychiatric theory (Sigmund Freud). The 20th century started with the development of modern medicines (Paul Erlich) and the discovery of sulfa drugs (Gerhard Domagk) and antibiotics (Alexander Fleming). By capitalizing on these discoveries, the second part of the 20th century saw an explosion of medical technology. The post–World War II era experienced a prosperous...

Noncompliance and Missing Data in Health Economic Evaluation

Noncompliance and Missing Data in Health Economic Evaluation   Reference library

Karla DiazOrdaz and Richard Grieve

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
13,403 words
Illustration(s):
9

...outcome is fully observed, but we have missing values in the covariates that appear in the substantive model. The second is when the survival time has missing values. In some settings, covariates X included in a Cox proportional hazards model have missing values; White and Royston ( 2009 ) show that when imputing either a normally distributed or binary covariate X , we should use a linear (or logistic) regression imputation model, with Y and the baseline cumulative hazard function as covariates. To implement this, we have to estimate the baseline...

Paley, William

Paley, William (1743–1805)   Reference library

The Biographical Dictionary of British Economists

Reference type:
Subject Reference
Current Version:
2010
Subject:
Social sciences, Economics
Length:
2,242 words

... (New York, 1939). Keynes, J.M. , Essays in Biography , in The Collected Works of John Maynard Keynes , vol. X (1972). Paley, E. , Life of Dr. Paley in The Works of William Paley, D.D . (1825). Robinson R. , ‘ A Graphical Analysis of the Foreign Trade Multiplier ’, Economic Journal (1952), vol. 62, pp. 546–83. Waterman, A.M.C. , ‘ Why William Paley was “The First of the Cambridge Economists” ’, Cambridge Journal of Economics (1996), vol. 20, pp. 673–86. A.M.C....

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