Cost Of Ignorance Research Articles

The cost of ignorance: reputational mark-up in the market for Tuscan red wines

PurposeThe purpose of this paper is to provide an empirical investigation of the idea that imperfectly informed consumers use simple signals to identify the characteristics of wine, for example, the geographical denomination. The reputation of a denomination will thus be an important guide for consumers when assessing individual wines.Design/methodology/approachThe price–quality relationship is studied in a fairly homogenous geographical area where a large number of wine types is present. This is done by using a simple ordinary least squares (OLS) analysis on a database of more than 2,000 different red wines produced in a period of just four years in only one Italian region.FindingsThe results show that some denominations have a lower average quality score and that price differentials between denominations are linked to differences in average quality, although consumers tend to exaggerate the quality gap between prestigious denominations and others.Research limitations/implicationsA producer in a prestigious denomination benefits from a substantial mark-up relative to an equally good producer from another denomination. Furthermore, denomination neutral wines have a stronger price–quality relationship than denomination specific wines.Practical implicationsConsumers should not be misled by what is on the bottle, but should rather consult wine guides to become better informed before purchasing.Social implicationsThe fact that quality and sensory characteristics often play a minor role in determining the price of a commodity is not immediately compatible with the postulate that consumers are well informed.Originality/valueUnlike previous work, this paper investigates a limited area (Tuscany) and only red wines, thus making it possible implicitly to control for many other factors which might otherwise confound the price–quality relationship.

Religious Bodies as Catalyst For National Development in Africa: The Case of The Living Faith Church

Politics and religion overtime have become two sides of a coin. This is particularly through of Africa, Nigeria inclusive, due to the nature of colonialism that accompanied introduction of Christian religion. No matter how conceived, the activities of the various missionary bodies that came with colonialism brought about development to Nigeria in all spheres of live especially in the education sector. This can be attested to by many schools set up by the Christian missionaries that provided quality education for many generations during and after colonial rule in the country. This paper attempts to investigate the activities of the Living Faith church (Winners Chapel) in bringing development through education. The paper found that the Living Faith church have invested vigorously in the education sector as manifested in the establishment of two Universities and chains of Secondary and Primary schools across the country that have continued to train scores of Nigerians and in turn contributing to the development of the country. Although it has been argued that the type of education provided by this church is too expensive and targeted at the elites when compared to the education provided by the early Christian missionaries. The paper concludes that since governmental authorities at various levels have continued to neglect the education sector in spite of the teeming yearning of Nigerians for quality education, the cost of ignorance cannot be compared to the services rendered by the Living faith church in the education sector and thereby contributing its own quota to the development of Nigeria.
 Keywords: Religion, Church, Development, Winners Chapel, Education

A rapid self-heating battery pack achieved by novel driving circuits of electric vehicle

The widespread use of electric vehicles (EVs) is challenged by the applicability of batteries at low temperatures. To improve the user experience on EVs, thermal management system is designed to heat batteries before driving in cold circumstance. Currently, the offered heating system comes at a cost, insufficient heating rates. This study investigates heating performance on batteries with driving circuits of EVs, and proposed a triple-module separated invert (TMSI) mode to rapidly heat the battery pack, with the batteries divided into three groups and connected to the bridges of inverter separately. The TMSI mode achieves a temperature rise rate of 8.6 °C/min on batteries through the pulse currents generated by driving circuits during EV parking. Besides, the battery pack can maintain an appropriate temperature during EV driving with adjustable heating power. This work provides a promising method to rapidly heat the batteries at ignorable cost, and enhance the acceptance of EVs in areas with cold climates.

Debt Literacy and Debt Literacy Self‐Assessment: The Case of Poland

It is well documented that financial literacy is at best moderate around the world and that the cost of ignorance in this field may be high on both microeconomic and macroeconomic levels. We surveyed a representative sample of Poles to measure their debt literacy—a little‐studied aspect of financial literacy—and therefore obtain insight into the factors predicting it. Our study evidenced low levels of debt literacy and its overestimation by respondents in their self‐reports. We also confirmed some of the patterns found in former studies, including the gender gap and a positive relationship between the level of educational attainment and debt literacy. Finally, our examination provides compelling outcomes with regard to the segmentation of the sample on the basis of objective and subjective debt literacy scores. They show large heterogeneity of debt literacy and thus confirm the need for far‐reaching customization of debt‐oriented education.

GOODS AND SERVICE TAX IN INDIA: A SWOT ANALYSIS

Goods and Service Tax (GST) is a Value Added Tax (VAT), which hypothetically to be put into effect from April 2010, but because of conflicting interest of stakeholders and various political controversies it has been passed in both Houses of Parliament on Aug. 3, 2016. It alone indirect tax which influence the whole economy directly. It is aspiring as iron out wrinkles of current indirect taxes and has a far-reaching impact on GDP. India is a centralized constitutional economy. GST is applicable on all States and Union territories, known as CGST (Central Goods & Services Tax) and SGST (State Goods & Services Tax). The ill effects of cascading can be mitigated after tie up the central and states taxes in solitary tax. The economy is expected to pave the way of common national market as it will provide benefits to consumer by reducing overall tax burden of goods, which is currently estimated at 25% to 30%. Thus, introduction of Goods and Service Tax (GST) is a gigantic tax transform in contemporary ancient times. 
 Ignorance of law is no excuse but is liable to panel provisions, hence why not start learning GST and avoid the cost of ignorance. We all need to know, whether GST is willingly or imposed. This paper describes a brief introduction of current indirect tax structure and GST in India. What are challenging factor in implementation and what can be the opportunities of GST in India.

Separating Fact from Fiction: An Empirical Examination of Six Myths About Dissociative Identity Disorder

Dissociative identity disorder (DID) is a complex, posttraumatic, developmental disorder for which we now, after four decades of research, have an authoritative research base, but a number of misconceptualizations and myths about the disorder remain, compromising both patient care and research. This article examines the empirical literature pertaining to recurrently expressed beliefs regarding DID: (1) belief that DID is a fad, (2) belief that DID is primarily diagnosed in North America by DID experts who overdiagnose the disorder, (3) belief that DID is rare, (4) belief that DID is an iatrogenic, rather than trauma-based, disorder, (5) belief that DID is the same entity as borderline personality disorder, and (6) belief that DID treatment is harmful to patients. The absence of research to substantiate these beliefs, as well as the existence of a body of research that refutes them, confirms their mythical status. Clinicians who accept these myths as facts are unlikely to carefully assess for dissociation. Accurate diagnoses are critical for appropriate treatment planning. If DID is not targeted in treatment, it does not appear to resolve. The myths we have highlighted may also impede research about DID. The cost of ignorance about DID is high not only for individual patients but for the whole support system in which they reside. Empirically derived knowledge about DID has replaced outdated myths. Vigorous dissemination of the knowledge base about this complex disorder is warranted.

Sleep Deprivation during Pregnancy: The Cost of Ignorance!

Sleep Deprivation during Pregnancy: The Cost of Ignorance!

The Bayesian Approach to the Economics of One-Time Inventory Policy under Uncertainty

This paper deals with the one time buy inventory problem of such products for which there is limited information available for demand prediction. The unknown mean demand is treated as random variable whose prior density is defined by a Beta density function. The Baye's rule is then used to redefine the economics of the inventory model under uncertainty about the mean demand. Assuming that no cost is incurred on collection of data, the expected cost of ignorance becomes the limiting value of the expected savings which accure due to the increase in knowledge about the true mean demand.

Corrigendum to Supplement 1, 2009

Clinical OtolaryngologyVolume 34, Issue 5 p. 513-513 Free Access Corrigendum to Supplement 1, 2009 This article corrects the following: Posters Volume 34Issue s1Clinical Otolaryngology pages: 47-138 First Published online: June 22, 2009 First published: 24 September 2009 https://doi.org/10.1111/j.1749-4486.2009.02031.xAboutSectionsPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat In both abstracts referenced below (1, 2), the author’s name, V Raut is omitted. The correct list of authors’ names should have been as follows: Jervis, S. Mistry, N. Grainger, J. Raut, V. References 1 Jervis S., Mistry N. & Grainger J. (2009) PC03 Adherence to NICE pre-operative investigation guidelines: a survey of ENT performance. Clinical Otolaryngology 34 (Suppl. 1), 55 2 Mistry N., Jervis S. & Grainger J. (2009) PC 18 Pre-operative assessment in ENT and adherence to NICE guidelines: the cost of ignorance. Clinical Otolaryngology 34 (Suppl. 1), 58 Volume34, Issue5October 2009Pages 513-513 ReferencesRelatedInformation

Mens Rea and the Cost of Ignorance

While the controversial doctrine of strict liability occupies an important place in modern criminal law, existing theories fail to explain when and why this doctrine is used instead of mens rea. This Essay advances a new understanding of strict criminal liability and explores its implications. The drawback of a mens rea standard is that it assures ignorant offenders that they can engage in the prohibited conduct without being penalized. This shortcoming, however, will be mitigated when offenders find that the market imposes too high a cost on ignorance. If ignorance is sufficiently costly, offenders will take steps to become (or remain) informed notwithstanding the adverse incentive created by the mens rea standard. The Essay thus predicts that, other things being equal, strict liability is likely to govern only those elements of a criminal offense for which ignorance is virtually costless. The Essay proceeds to demonstrate the illuminating power of this theory by analyzing the seemingly puzzling application of strict liability to liquor-sale to minors, statutory rape, child-pornography, regulatory offenses, criminal liability of corporate officers, and mistakes of law and fact. The Essay concludes by exploring whether alternative doctrines may induce offenders to acquire information without producing the harsh and unfair consequences often attributed to strict liability.

Consumer Welfare and the Loss Induced by Withholding Information: The Case of BSE in Italy

The paper develops a measure of consumer welfare losses associated with withholding information about a possible link between BSE and vCJD. The Cost of Ignorance (COI) is measured by comparing the utility of the informed choice with the utility of the uninformed choice, under conditions of improved information. Unlike previous work that is largely based on a single equation demand model, the measure is obtained retrieving a cost function from a dynamic Almost Ideal Demand System. The estimated perceived loss for Italian consumers due to delayed information ranges from 12 percent to 54 percent of total meat expenditure, depending on the month assumed to embody correct beliefs about the safety level of beef.

The price of knowledge is high but the cost of ignorance is greater!

The importance of measurement within the National Health Service should need no stating. Unfortunately, it still does. This article makes the case.

Sequential confidence regions for maximum likelihood estimates

The goal of this paper is to develop a general framework for constructing sequential fixed size confidence regions based on maximum likelihood estimates. Asymptotic properties of the sequential procedure for setting up the confidence regions are analyzed under very broad assumptions on the underlying parametric model. It is shown that the proposed sequential procedure is asymptotically optimal in the sense that it approximates the optimal fixed-sample size procedure. It is further shown that the “cost of ignorance” associated with the sequential procedure is bounded. Applications are made to estimation problems arising in prospective and retrospective studies.

The Costs of Ignorance

Conservation BiologyVolume 9, Issue 3 p. 473-474 Free Access The Costs of Ignorance Earl D. McCoy, Earl D. McCoy Department of Biology and Center for Urban Ecology, University of South Florida, Tampa, FL 33620, U.S.A.Search for more papers by this author Earl D. McCoy, Earl D. McCoy Department of Biology and Center for Urban Ecology, University of South Florida, Tampa, FL 33620, U.S.A.Search for more papers by this author First published: June 1995 https://doi.org/10.1046/j.1523-1739.1995.09030473.xCitations: 1AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat No abstract is available for this article.Citing Literature Volume9, Issue3June 1995Pages 473-474 RelatedInformation

Can competition enhance efficiency in health care? Lessons from the reform of the U.K. national health service.

Since 1991 the reform of the U.K.-NHS has been introduced cumulatively. Public funding of health care has been retained and the goal of the reformers is to improve the efficiency of resource allocation by creating competition on the supply side of the market. The introduction of more autonomous Trust hospitals, general practice fund holders (GPFH) and the purchase-provider divide is described. The policy contradictions in the implementation of the reforms are analysed: the incomplete utilization of population weighted funding, the absence of a strategy in the development of GPFHs which are at once the mavericks and the catalysts of change in the new structures, the poor articulation of pricing and contracting rules, the maintenance of planned labour and capital markets which facilitate cost control but frustrate resource reallocation, and the incomplete articulation of many market rules (e.g. about merger and exit). It seems that the rhetoric of the market has been submerged in legislation and managerial rules which increase the power of central government rather than delegating control to local providers and purchasers. The lessons of the U.K. reforms for future innovators in the design of health care systems are numerous. Would a new Hippocratic Oath requiring the delivery by professionals of knowledge based medicine be as efficient but have lower transactions costs than the creation of an internal market? Who should regulate the health care market and how? How can reform best be sequenced? Is reform of funding (competing purchasers) an essential ingredient in the reform process or will supply side reform alone be adequate?(ABSTRACT TRUNCATED AT 250 WORDS)

“…The cost of ignorance?” The cost of not providing training for managers and workers

Performance + InstructionVolume 33, Issue 7 p. 43-45 Article “…The cost of ignorance?” The cost of not providing training for managers and workers Al Barrs, Al Barrs Al Barrs is the group manager of Technical and Management Training and Design, Customer Focus Center, Human Resources Department at the Ryder System, Inc. He created Ryder's precision “rifle” approach to training package design and developed the precision-based design technique for business and industry applications. He can be reached through the Ryder System at 3600 NW 82nd Ave., Miami FL 33166. Telephone: 305/593-4340.Search for more papers by this author Al Barrs, Al Barrs Al Barrs is the group manager of Technical and Management Training and Design, Customer Focus Center, Human Resources Department at the Ryder System, Inc. He created Ryder's precision “rifle” approach to training package design and developed the precision-based design technique for business and industry applications. He can be reached through the Ryder System at 3600 NW 82nd Ave., Miami FL 33166. Telephone: 305/593-4340.Search for more papers by this author First published: August 1994 https://doi.org/10.1002/pfi.4160330710 AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Volume33, Issue7August 1994Pages 43-45 RelatedInformation

Communication and Category Structure: The Communicative Process as a Constraint on the Semantic Representation of information

Categorization is the process of dividing the world of experience into groups of entities whose members share one or more characteristics in common. Recognition of similarities across entities and the subsequent aggregation of similar entities into categories lead the individual to discover order in a complex environment that would otherwise consist of a multiplicity of unique entities. Medin (1989) has observed that, in the treatment of patients, the clinical psyhcologist cannot approach each individual as unique precisely because absolute uniqueness imposes the prohibitive cost of ignorance (p. 1469). Experience with patients who present common symptoms permit the clinician to cumulate and ysntesize information and thereby to expand professional knowledge of a diagnostic category. By grouping patients based upon observable similarities, the clinician treating an individual patient can apply knowledge accumulated through previous encounters with other patients.

The cost of ignorance

The cost of ignorance

Measuring welfare effects of product contamination with consumer uncertainty

A methodology is developed for measuring consumer welfare loss from market demand due to contamination when information is imperfect. Comparison of behavior before and after awareness permits calculation of the “cost of ignorance” which occurs when news of contamination is withheld or undiscovered for a time as well as when excessive reporting and exaggeration cause overreaction. Avoidance costs are also calculated for consumers who consume less than they would with perfect information due to risk aversion. The methodology is applied to analyzing the heptachlor crisis which reduced milk consumption in Hawaii by over 80%.