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Business case (BC) analyses are performed in many different business fields, to create a report on the feasibility and competitive advantage of an intervention within an existing organisation to secure commitment from management to invest. However, most BC research papers on decisions regarding internal funding are either based on anecdotal insights, on analyses of standards from practice, or focused on very specific BC calculations for a certain project, investment or field. A clear BC process method is missing.

This paper aims to describe the results of a systematic literature review of 52 BC papers that report on further conceptualisation of what a BC process should behold.

Synthesis of the findings has led to a BC definition and composition of a 20 step BC process method. In addition, 29 relevant theories are identified to tackle the main challenges of BC analyses in future studies to make them more effective. This supports further theoretical development of academic BC research and provides a tool for BC processes in practice.

Although there is substantial scientific research on BCs, there was not much theoretical development nor a general stepwise method to perform the most optimal BC analysis.

This study aims to evaluate the effect of Alpha-Stim Anxiety, Insomnia and Depression (AID) cranial electrotherapy stimulation (CES) on anxiety, depression and health-related quality of life for primary care social prescribing service patients with anxiety symptoms.

Open-label patient cohort design with no control group. A total of 33 adult patients (average age 42 years) completed six weeks of Alpha-Stim AID use. Pre- and post-intervention assessment with participant self-report measures: Patient Health Questionnaire (PHQ-9), Generalised Anxiety Disorder (GAD-7) and European Quality of Life Five Dimension (EQ-5D-5L).

Reliable improvement and remission rates, respectively, were 53.39% and 33.3% for GAD-7; 46.7% and 29.5% for PHQ-9. There was a significant improvement in GAD-7 and PHQ-9 with large effect sizes. EQ-5D-5L results showed significant improvements in health-related quality of life. Perceived quality of life increased by 0.17 on the health index score, with the intervention adding 1.68 quality-adjusted life years (QALYs).

Alpha-Stim AID can be delivered through a primary health-care social prescribing service and most patients will use as prescribed and complete treatment course. Alpha-Stim AID CES may be an effective anxiety and depression treatment for people with anxiety symptoms. The widespread roll-out of Alpha-Stim AID in health-care systems should be considered.

To the best of the authors’ knowledge, this is the first study to respond to the UK’s National Institute for Health and Care (NICE) request for the collection of real-world data to understand better Alpha-Stim AID in relation to people’s treatment uptake, response rates and treatment completion rates (NICE, 2021).

This paper aims to assess the face validity to inform content validity of the Quality of Life – Aged Care Consumers (QOL-ACC), a new measure for quality assessment and economic evaluation in aged care.

Semi-structured interviews were conducted with older adults (66–100 years) receiving aged care services at home (n = 31) and in residential care (n = 28). Participants provided feedback on draft items to take forward to the next stage of psychometric assessment. Items were removed according to several decision criteria: ambiguity, sensitive wording, not easy to answer and/or least preferred by participants.

The initial candidate set was reduced from 34 items to 15 items to include in the next stage of the QOL-ACC development alongside the preferred response category. The reduced set reflected the views of older adults, increasing the measure’s acceptability, reliability and relevance.

Quality of life is a key person-centred quality indicator recommended by the recent Royal Commission into Aged Care Quality and Safety. Responding to this policy reform objective, this study documents a key stage in the development of the QOL-ACC measure, a new measure designed to assess aged care specific quality of life.

With the development of digitalization and interconnection, there is a growing need for enterprise customers to ensure the compatibility of the third-party components they are using in the manufacturing process, thus raising the integration requirements for the Industrial Internet platform and its third-party developers. Therefore, our study investigates the optimal integration decision of the Industrial Internet platform while considering its access price, the integration cost, and the net utility derived by enterprise customers from the third-party components.

We model a two-sided Industrial Internet platform that connects customers on the demand side to the developers on the supply side. We then explore the integration decision of the Industrial Internet platform and its important factors by solving the optimal profit function.

First, despite the high integration cost of third-party developers, the platform still chooses to integrate when enterprise customers derive high utility from the third-party components. Second, due to the compatibility effect, charging the enterprise customers a higher price may reduce the platform profits when these customers derive low utility from the third-party components. Third, the platform profits will increase along with the integration cost of third-party developers when it is low in the case where enterprise customers derive low utility from third-party components.

Our findings offer insightful takeaways for the Industrial Internet platform when making integration decisions.

The study aims to address a critical gap in existing healthcare payment schemes and care service pricing by recognizing the influential role of patients' decisions on self-management efforts. These decisions not only impact health outcomes but also shape the demand for care, subsequently influencing care costs. Despite the significance of this interplay, current payment schemes often overlook these dynamics. The research focuses on investigating the implications of a novel behavior-based payment scheme, designed to align incentives and establish a direct connection between patients' decisions and care costs. The primary objective is to comprehensively understand whether and how this innovative payment scheme structure influences key stakeholders, including patients, care providers, insurers and overall social welfare.

In this paper, we propose a game-theoretical model to incorporate the performance of self-management with the demand for healthcare service, compare the patient's effort decision for self-management and provider's price decision for healthcare service under a behavior-based scheme with that under two implemented widely payment schemes, that is, co-payment scheme and co-insurance scheme.

Our findings confirm that the behavior-based scheme incentives patient self-management more than current schemes while reducing their possibility of seeking healthcare service, which indirectly induces the provider to lower the price of the service. The stakeholders' utility under various payment schemes is sensitive to the cost of treatment and the perceived health utility of patients. Especially, patient health awareness is not always benefited provider profit, as it motivates patient self-management while diminishing the demand for care.

We provide a novel framework for characterizing behavior-based payment schemes. Our results confirm the need for modification of the current payment scheme to incentivize patient self-management.

This study aims to establish a centralized decision-making game model and manufacturer-led Stackelberg game model based on factors of risk aversion of supply chain members and product greenness. The research aims to study whether the introduction of the “cost + risk sharing” contract affects coordination of this type of green supply by calculating the optimal decision of each mode.

This research designs a supply chain model under centralized and decentralized decision-making. This model uses the Stackelberg game to calculate the optimal decision under decentralized decision-making to evaluate the effect of a green supply chain and then analyze the “cost + risk sharing” contract and the degree of coordination of the supply chain. A sensitivity analysis is conducted on the centralized mode for the impact of variables on the supply chain.

This research finds a double marginalization effect in decentralized decision-making, and the risk aversion coefficient plays a decisive role in the utility of supply chain members. The specific range of risk- and cost-sharing factors allows supply chain members to achieve Pareto improvements and provides decision-making based on the corresponding management strategies according to each other’s risk preference degree.

The influence of each variable on the green supply chain in the centralized mode is studied by MATLAB numerical simulation. It provides reference for green supply chain members to formulate corresponding management strategies according to each other's risk preference degree.

This research innovatively considers manufacturers and retailers to explore the market demand for product greenness. It introduces a novel “cost + risk sharing” contract to coordinate the green supply chain.

Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of behavior toward those choices might not be the ones we were all taught, and still teach, and that subjective risk perceptions might not accord with expert assessments of probabilities. In addition to these challenges, we are faced with the need to jettison naive notions of revealed preferences, according to which every choice by a subject expresses her objective function, as behavioral evidence forces us to confront pervasive inconsistencies and noise in a typical individual’s choice data. A principled account of errant choice must be built into models used for identification and estimation. These challenges demand close attention to the methodological claims often used to justify policy interventions. They also require, we argue, closer attention by economists to relevant contributions from cognitive science. We propose that a quantitative application of the “intentional stance” of Dennett provides a coherent, attractive and general approach to behavioral welfare economics.

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

On its way to develop a smart grid in Indonesia, one key enabler in the early stage of implementation is advanced metering infrastructure (AMI). Thus, Perusahaan Listrik Negara (PLN), an electrical energy utility company owned by the government of the Republic of Indonesia as the only electricity utility company servicing customers from upstream to downstream in Indonesia, has started AMI program at some main cities. With AMI, real-time energy consumption profile, energy meter status and condition, and customer power quality can be acquired. Subsequently, these data collected by AMI can be used for further smart grid implementation by such IT systems and big data analysis. Instead of its function for smart grid backbone, AMI also significantly support smart energy on the city as a part of smart city initiatives. Nevertheless, its implementation requires more investment than the conventional metering system. This investment needs to be evaluated to define whether AMI is feasible and viable or not. This chapter is intended to observe the feasibility of AMI implementation in Indonesia using cost-benefit analysis (CBA). Two schemes were used as study objects, one scheme in which the communication infrastructure was managed by PLN itself, and the other one in which the communication infrastructure was managed by a third party. From the analysis, it appears that both schemes are proven to be feasible.

The purpose of this paper is to investigate the optimal production and financing strategies for the closed-loop supply chain (CLSC) composed of a capital-constrained original equipment manufacturer (OEM) and a risk-averse authorized remanufacturer (RM).

The authors formulate four models with different scenarios, namely, the OEM has sufficient capital; the OEM has limited capital without financing; the OEM adopts debt financing strategy; and the OEM adopts equity financing strategy. The equilibrium solutions of each scenario are obtained by backward induction method, the influences of risk aversion coefficient on the equilibrium solutions are examined and the OEM's optimal financing strategy is found by comparison analysis.

When the OEM's initial capital is limited and the equity dividend ratio is less than a certain threshold, the equity financing strategy is more advantageous for the OEM. However, if the OEM's initial capital is extremely scarce and the dividend proportion is large, the OEM prefers the debt financing strategy. When considering financing, consumer surplus always decreases as the risk aversion factor increases; the debt financing strategy is more environmentally friendly compared with the equity financing strategy. Only the debt financing strategy can make both members in the CLSC achieve a win-win situation in a certain region when the dividend ratio is sufficiently large.

It will be more fascinating if the model extends to such a case that the production operation situation in the CLSC composed of multiple OEMs in multiple periods. Furthermore, the remanufacturer's risk-averse information is asymmetry may be more realistic in our daily life.

There are three main differences from the existing research. One is that the remanufacturer's risk aversion originates from the uncertain remanufacturing cost instead of the uncertain market demand. Another is that the boundary conditions of the OEM prefer to adopt debt financing is obtained through the envelope theorem with Lagrange multiplier method. Last but not the least, this paper provides a good theoretical reference and practical guidance for the OEM to make the rational financing strategy selection in face of different degree of capital scarcity in the CLSC system. The value of the three aspects provides a theoretical basis for the optimal operation decisions of capital-constrained manufacturer considering the remanufacturer's risk aversion in the CLSC operation system.