Independent Private Research Articles

Conflicting versus reinforcing private information, information aggregation, and the time series properties of asset prices

We study how the relationship between independent private information signals affects information aggregation in laboratory asset markets. We employ two mechanisms, a continuous double auction and a prediction market. Under both mechanisms, when information is reinforcing, partial information aggregation occurs. When information is in conflict, information aggregation lessens and attempts to profit from private information frequently harm informational efficiency. In both mechanisms, results become stronger with experience in previous experimental sessions, and provide a private information benchmark for studies of the implications of conflicting public information. Under reasonable assumptions, our results are consistent with both momentum effects and weak reversals.

Insurance Status, Language, and Access to Care for Pediatric Anterior Cruciate Ligament Injury.

Patients with public insurance (PUBs) face more difficulty obtaining orthopaedic appointments and have longer wait times than privately insured patients (PVTs). These delays are associated with greater injury severity at the time of surgery, which affects sports injuries such as anterior cruciate ligament tears where early surgical stabilization leads to better outcomes. Additionally, previous evidence showed that patients with limited English proficiency often must rely on informal translation services, such as family members or friends, to communicate with their orthopaedic surgeons, which may represent a disparity in the care provided. It was hypothesized that PUBs would be less likely to obtain an appointment compared with PVTs and that most providers would not offer professional translation services to Spanish-speaking patients. Cross-sectional study. The authors called 50 randomly selected orthopaedic surgeons' offices in California specializing in sports medicine to request an appointment. Each office was called 4 times in random order for the hypothetical patient having either private or public insurance and speaking either Spanish or English. The hypothetical PUB had significantly decreased access to an appointment (19% of offices offered an appointment) when compared to the PVT (73.8% offered an appointment). Independent private practice (IPP) offices were less likely to accept public insurance (13.3%) compared with offices at academic medical centers (57.1%). There was no difference in access to an appointment for the Spanish- versus English-speaking patient. Translation services were offered at 73.8% of the orthopaedic offices. Overall, the data illustrated disparities in access to pediatric orthopaedic care for PUBs compared to those with private insurance. Disparities were most prominent in IPP settings, which were less likely than academic offices to accept public insurance. Additionally, it was found that 73.8% of the offices the authors contacted offered Spanish translation services. Interventions should focus on increasing acceptance of public insurance and translation services in IPP settings. Future studies should expand this analysis to other languages and investigate the potential impacts of language on the quality of care provided.

Procurement with a strong insider

We consider a procurement auction with a “strong” insider and N outside bidders. Within the confines of uniformly distributed independent private values, we compare a standard second price auction with a “tournament” in which the outsiders bid first to win the right to compete with the insider. The bids of the outsiders are binding and the highest bidder proceeds to a second-price competition with the insider. We take the insider to be “sufficiently strong” relative to the insiders.The outsiders bid above their values and the expected revenue exceeds that of the standard second price auction. This is true for any finite N, and in the limit as N grows large.

A Simple and Practical Method for Reducing the Disparate Impact of Differential Privacy

Differentially private (DP) mechanisms have been deployed in a variety of high-impact social settings (perhaps most notably by the U.S. Census). Since all DP mechanisms involve adding noise to results of statistical queries, they are expected to impact our ability to accurately analyze and learn from data, in effect trading off privacy with utility. Alarmingly, the impact of DP on utility can vary significantly among different sub-populations. A simple way to reduce this disparity is with stratification. First compute an independent private estimate for each group in the data set (which may be the intersection of several protected classes), then, to compute estimates of global statistics, appropriately recombine these group estimates. Our main observation is that naive stratification often yields high-accuracy estimates of population-level statistics, without the need for additional privacy budget. We support this observation theoretically and empirically. Our theoretical results center on the private mean estimation problem, while our empirical results center on extensive experiments on private data synthesis to demonstrate the effectiveness of stratification on a variety of private mechanisms. Overall, we argue that this straightforward approach provides a strong baseline against which future work on reducing utility disparities of DP mechanisms should be compared.

Unintended consequences of school accountability reforms: Public versus private schools

In this paper, we show that the public provision of information on Australian schools’ average national test score outcomes via the My School website, launched in 2010, resulted in poorly performing schools testing fewer students in subsequent years. This increased non-participation in testing was driven primarily by formal parental withdrawal, and poorly performing students were much more likely to be withdrawn from testing. This phenomenon is consistent with schools attempting to ‘game’ the system to improve published test scores. We also provide weaker evidence that withdrawal responded more strongly to initial poor performance in independent private schools than in government schools.

Moisture Optimization and Energy Saving Effects of Combined Organic Acid and Surfactant Inclusion in Pelleted Feed Production

The purpose of the present study was to determine the effects of inclusion of an organic acid and surfactant (OS) combination on moisture optimization and energy sparing in the production of pelleted compound feeds for dairy and beef cattle. The trial was carried out in two independent private commercial feed factories (factories A and B) producing cattle feed in pellet form. Each factory produced 21 tons of commercial cattle feed (7 batches; 3 tons per batch); factory A, a dairy feed containing 2620 kcal/kg metabolizable energy (ME) with 18.90% crude protein (CP); and factory B, a fattening feed containing 2550 kcal/kg ME with 13.00% CP. Batches for the treatment groups were prepared by adding 0.5, 1.0 and 1.5 kg/ton of OS (Fylax flow) respectively to these basal feeds in the mixer. The moisture retention capacity during pelleting process of all three OS supplemented feeds increased in comparison to the basal feed, whilst moisture content of the finished feeds and energy consumed for production decreased significantly. It was observed that increasing the OS supplementation to 1.5 kg could further increase the moisture retention capacity and moisture content in pellet production compared to the feeds supplemented with 0.5 and 1.0 kg OS, due to the lower power rating of the equipment. It has thus been concluded that adding 0.5, 1.0 and 1.5 kg of OS to commercial compound feeds for dairy resulted in a profitable production with good moisture optimization and energy savings during pelleting.

Analysis of the Presentation of Financial Statements of a Non-Profit Organization (Case Study of Independent Private Foundation Orphanage Bengkulu City)

The characteristics of non-profit organizations are different from business organizations. The fundamental difference lies in the way the organization obtains the resources needed to carry out its various operating activities. non-profit organizations obtain resources from donations from other contributing members who do not expect anything in return from the organization while business organizations obtain resources from the capital of owners or investors who expect a return on any profits earned by the organization.This study aims to analyze the presentation of financial statements of non-profit organizations (a case study of the Bengkulu city independent private foundation orphanage). The purpose of this study was to determine the suitability of the application of ISAK 35 concerning financial statements of non-profit organizations in achieving transparency and accountability at the orphanage of the private foundation mandiri Bengkulu city. The data analysis used is descriptive comparative, which is a research method that compares a theory that applies to events that occur in the field.The results of this study indicate that the Bengkulu city independent private foundation orphanage in general has not made financial reports in accordance with ISAK 35, but in the financial statements made by the independent private foundation orphanage has implemented ISAK 35 even though it is only 55.55%, while for transparency and accountability as a whole the orphanage has been transparent and accountable, in its financial statements.

Fully device independent quantum private query

Fully device independent quantum private query

Implementing an interactive online platform in a large undergraduate general chemistry course and its impact on student learning and perceptions

The rise of technology and online approaches has challenged the traditional learning and teaching model for first year chemistry of formal face-to-face lectures and in-person laboratory sessions. The COVID-19 pandemic since 2020 has created a rapidly changing environment in assessment and learning experiences for students and led to rapid adoption of online technology within chemistry courses. This study, during 2019–2021, examined the implementation of an active learning platform in a large undergraduate chemistry course. This study was informed by constructivist theories of learning and of relevance was the 5E framework, with learning phases of engage, explore, explain, elaborate, and evaluate. A combination of post-survey data and coursework data were analysed. Post-survey results indicated that students positively perceived that the interactive online platform helped them to learn. User statistics data for learning and self-assessment activities affirmed that students gave priority to the self-paced interactive online approach, in preference to conventional social learning activities. Modernization of delivery of the curriculum to replace unstructured independent private study with structured learning and revision activities was of greatest benefit to student learning for lower performing students that were typically mature age students, with significant differences observed for online quiz and final exam results for this cohort of students. Overall, student learning was supported with the introduction of digital technologies in the course. The findings revealed that the self-paced learning activities for chemistry, delivered with an interactive online platform, combined with conventional learning activities can be effective in creating a culture of learning in students and maintaining academic outcomes.

The Looming Future of Private Equity in Plastic Surgery.

Private equity acquisition of independent private practices has grown dramatically in the last decade, with private equity firms increasingly investing in surgical specialties that practice in outpatient ambulatory centers. This trend has slowly started to creep into plastic surgery; therefore, understanding the concepts of private equity ownership in healthcare and its benefits and risks is critical. This article provides a fundamental economic background on private equity, describes its current state in healthcare, including trends in plastic surgery, and provides recommendations for plastic surgeons considering private equity acquisition.

Inclusive practices in an independent private school: Insight into teachers' perspectives, beliefs and practices

AbstractThis descriptive case study examines the perspectives, beliefs and practices of independent private schoolteachers in India about the inclusion of students with special educational needs in general education classrooms. Data were collected through one‐to‐one interviews and focus group discussions with 10 teachers in an independent private school in South Delhi. The analysis of the data highlights that teachers possess limited knowledge regarding meeting the educational needs of students with disabilities in their classrooms. Teachers are faced with challenges in implementing full inclusion in the absence of consistent guidelines on inclusion, the definition of inclusive education in the legislative framework, the knowledge gap and the student‐centred approach. Additionally, the study identifies a lack of collaboration between teachers and parents as a potential factor leading to the non‐implementation of inclusive education practices. The study highlights the significance of professional development sessions in raising teachers' awareness about the importance of differentiation, individualised instruction and technology integration for achieving full inclusion. Key Points Private schoolteachers in India face challenges similar to those in public schools regarding the inclusion of students with special educational needs. Limited opportunities for collaboration and communication with stakeholders, coupled with financial considerations and a profit‐driven approach in some private schools, can overshadow the inclusion of students with special educational needs. Professional development sessions are crucial in enhancing teachers‘ awareness of collaboration, differentiation, individualised instruction and technology integration for achieving full inclusion. Policy makers should prioritise the development of clear and unambiguous guidelines for inclusive education in independent private schools, outlining responsibilities and mandating training programs for educators and administrators.

Mistrust in government and National Health Insurance: A qualitative study of solo private practitioners in Cape Town.

The participation of independent private general practitioners (GPs) is of fundamental importance to the successful implementation of key elements of the proposed National Health Insurance (NHI) reform, notably the contracting units for primary health care (CUPS). This study explored knowledge and perceptions of the NHI reforms of private GPs following the tabling of the NHI Bill in parliament in 2019. An explorative qualitative research methodology was adopted. Using a semi-structured guide, nine solo private GPs, purposefully selected to represent the range of practices in the southern peninsula of Cape Town were interviewed in depth by B.L.P. over the period from January 2021 to March 2022. The GPs indicated support for the values of greater equity outlined in the NHI proposals. However, they had little engagement on or knowledge of their potential future roles in NHI. Concerns over financial viability and design were underpinned by an overall mistrust in the public sector to implement and manage NHI. The study concurs with previous research that private GPs are broadly in support of the principles of, and are potential allies, in advancing NHI. General practitioners need a platform to share their concerns and contribute as co-designers of NHI reforms. In the interim, steps to increase collaboration between private and public sectors at local and provincial level through, for example, referral processes may help to build the trust that is necessary between the sectors.Contribution:This study foregrounds the role of trust relationships in advancing NHI.

Risk factors for not reaching minimal clinically important difference at 90 days and 1 year after elective lumbar spine surgery: a cohort study.

Patient-perceived functional improvement is a core metric in lumbar surgery for degenerative disease. It is important to identify both modifiable and nonmodifiable risk factors that can be evaluated and possibly optimized prior to elective surgery. This case-control study was designed to study risk factors for not achieving the minimal clinically important difference (MCID) in Patient-Reported Outcomes Measurement Information System Function 4-item Short Form (PROMIS PF) score. The authors queried the Michigan Spine Surgery Improvement Collaborative database to identify patients who underwent elective lumbar surgical procedures with PROMIS PF scores. Cases were divided into two cohorts based on whether patients achieved MCID at 90 days and 1 year after surgery. Patient characteristics and operative details were analyzed as potential risk factors. The authors captured 10,922 patients for 90-day follow-up and 4453 patients (40.8%) did not reach MCID. At the 1-year follow-up period, 7780 patients were identified and 2941 patients (37.8%) did not achieve MCID. The significant demographic characteristic-adjusted relative risks (RRs) for both groups (RR 90 day, RR 1 year) included the following: symptom duration > 1 year (1.34, 1.41); previous spine surgery (1.25, 1.30); African American descent (1.25, 1.20); chronic opiate use (1.23, 1.25); and less than high school education (1.20, 1.34). Independent ambulatory status (0.83, 0.88) and private insurance (0.91, 0.85) were associated with higher likelihood of reaching MCID at 90 days and 1 year, respectively. Several key unique demographic risk factors were identified in this cohort study that precluded optimal postoperative functional outcomes after elective lumbar spine surgery. With this information, appropriate preoperative counseling can be administered to assist in shaping patient expectations.

An information–Theoretic approach to partially identified auction models

We consider a situation in which we have data from ascending auctions with symmetric bidders, independent private values, and exogenous entry in which the bidders’ value distribution is partially identified. Focusing on the case in which the seller intends to use a second price auction, we discuss how to determine an optimal reserve price. We justify the use of maximum entropy, explore the properties of the estimand, determine the asymptotic properties of our maximum entropy estimator, evaluate its behavior in a simulation study, and demonstrate its use in a modest application. As an extension, we propose a maxmin decision rule with entropy regularization, which includes Aryal and Kim (2013) and the maximum entropy solution as extreme cases.

Selling Assets: Are Sellers Better Off with Strong Buyers?

When do sellers benefit from the presence of a strong buyer? In a second price auction with independent private values and entry costs for buyers, we allow for one buyer to be stochastically “strong.” We show that, when buyers make positive net profits, seller revenue is higher with a stronger buyer. In contrast, when competition is endogenous so that all buyers other than the strong buyer break even, seller revenue is always lower in the presence of a strong buyer. We also study seller actions such as providing buyer subsidies, setting reserve prices, securing multiple strong buyers, bundling assets, and optimally choosing the time of sale that might alleviate the fall in revenue. This paper was accepted by Will Cong, Finance. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2023.4938 .

Recruitment 1: how to apply for jobs

This first article in a series on recruitment looks at the preliminary steps to take on the way to a new career, or a new stage in an existing career. If you are considering a healthcare assistant (HCA) role, there is a huge range of areas in which you could work, including dietetic, maternity, occupational therapy, and speech and language, to name only a few (see Table 1 for more detail). There are three main sectors that you can work in: the NHS; independent (private); and voluntary (charitable). There is a good variety of resources that help you in every aspect of your career search.

Withholding and damage in Bayesian trade mechanisms

We study the optimality of allowing the designer to withhold or damage resources in Bayesian incentive compatible mechanisms for bilateral trade with independent private values. The following results hold when the buyer and the seller have discrete value distributions. Burning money or withholding the good from both traders never enhances welfare. Similarly, damaging the good for the buyer cannot increase welfare. By contrast, damaging the good for the seller may improve welfare. However, such welfare improvements are possible only if the damage hurts some lower valuation type of seller more severely than the highest valuation type. Results extend to the case of continuous value distributions under certain hypotheses regarding virtual values. Methods also apply to optimal Bayesian implementation for allocation problems. In the absence of property rights, damaging goods for any agent has negative welfare consequences.

White spot lesions in orthodontics: consensus statements for prevention and management.

To establish consensus recommendations for clinicians to manage white spot lesions (WSLs) during orthodontic treatment. Three task force members reviewed the literature to identify best practices for minimizing WSLs during orthodontic treatment. Each draft statement was read to the task force members by a facilitator, followed by voting, accepting, or editing if necessary. The statements were then sent electronically by an independent third party (Magellan Medical Technology Consultants Inc, Minneapolis, Minn) to a previously formed content validation panel consisting of 20 independent private practitioners and clinical academicians for validation. Twenty-one statements were developed and sent for content validation. While 19 statements achieved a content validation index (CVI) of 0.78, two items did not. These items were edited by the task force members based on qualitative feedback from content validation participants. Each of these revised statements did achieve a CVI of 0.78 on second evaluation from the content validation panelists and therefore were included in this document. To reduce the risk of WSLs, it is essential to implement individualized caries management measures based on a comprehensive assessment of the patient's oral and systemic health. Effective at-home and professional mechanical and chemical plaque control should be implemented for high-risk orthodontic patients. Fluoride to support prevention and materials such as orthodontic sealants should also be used to provide a physical barrier around the brackets in high-risk patients. By following these guidelines, orthodontic professionals can help promote oral health and minimize the need for restorative treatment.

Information design in optimal auctions

We study the information design problem in a single-unit auction setting. The information designer controls independent private signals according to which the buyers infer their binary private values. Assuming that the seller adopts the optimal auction due to Myerson (1981) in response, we characterize both the buyer-optimal information structure, which maximizes the buyers' surplus, and the seller-worst information structure, which minimizes the seller's revenue. We translate both information design problems into finite-dimensional, constrained optimization problems in which one can explicitly solve for the optimal information structure. In contrast to the case with one buyer (Roesler and Szentes, 2017), we show that with two or more buyers, the symmetric buyer-optimal information structure is different from the symmetric seller-worst information structure. The good is always sold under the seller-worst information structure but not under the buyer-optimal information structure. Nevertheless, as the number of buyers goes to infinity, both symmetric information structures converge to no disclosure. We also show that in our ex ante symmetric setting, an asymmetric information structure is never seller-worst but can generate a strictly higher surplus for the buyers than the symmetric buyer-optimal information structure.

Minding the Gap in Education Discourse: Equity, Inclusion, and Belonging in Independent and International Schools

This special issue of Teachers College Record—“Minding the Gap in Education Discourse: Equity, Inclusion, and Belonging in Independent and International Schools”—aims to bring attention to independent and international private schools through the lenses of equity, inclusion, and belonging. In this issue, scholars and practitioners address gaps in education and education leadership discourse regarding considerations of equity, inclusion, and belonging. Historically, education discourse regarding equity, inclusion, and belonging has skewed largely toward public and charter education. While, according to the National Center for Educational Statistics (NCES), just 9% of PK-12 students nationally are enrolled in independent schools, independent schools nationally have much to contribute to the critical conversation concerning equity across the educational ecosystem. When we expand our attention to include international private schools, the numbers and scale shift dramatically. According to ISC Research, international private schools serve 6.74 million students. When the growing engagement of international private schools in the work of equity, inclusion, and belonging is considered, even more questions and possibilities emerge for the examining, understanding, and acting in research-informed ways on behalf of equity, inclusion, and belonging in education writ large. This special issue insists on the importance of considering schools as national and global systems of learning and socialization, and independent and international schools in particular as important players in the ecosystem of education in the United States and globally. The works in this issue tune us to the complex, multileveled ecosystem that we refer to as PK–12 schooling and to the importance of noticing and acting at all levels of that ecosystem to ensure research-informed thinking, decision-making, action, and impact.