Peter M. Waller

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In traditional bank theoretic modelling, agents are assumed to be perfectly rational. This assumption ignores the huge amount of evidence for systematic biases in individual decision making. In this paper, we present a model of collateralization under asymmetric information in which banks correctly anticipate that entrepreneurs are loss averse. Given a(More)
BACKGROUND AND OBJECTIVES In the last few years many new instruments and devices have been developed and introduced into the operating room (OR). A debate has been ongoing about the optimal ergonomic posture for the operating staff. From practical experience, we have learned that the operating tables cannot be adjusted adequately to allow surgeons of(More)
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Executive Summary  Special advisers are now a fixture in British government, and Westminster governments generally. They help reduce the pressure on Ministers; they represent the Minister's wishes to the Department, the rest of Whitehall, and the wider world; and Ministers see them as more dynamic than the permanent civil service.  There are at least(More)
Objectives: Clear benefits of minimally invasive surgery to patients are shorter hospitalization, less preoperative evaluation and diagnostic studies, less intense postoperative care, earlier return to family, strenuous activities and work, and less interaction with the physician, surgeon, nurse, and other healthcare team personnel. These positive effects(More)
Many shop floor manufacturing decisions are made through simple queueing theory or back-of-the-envelope calculations. These techniques tend to overlook the effect of a change on the entire manufacturing system. This paper presents a methodology for using simulation as an analytical tool to make strategic shop floor decisions at the department manager level.(More)
The ever increasing complexity of today's manufacturing systems has prompted many companies to turn to simulation as a means of better understanding their processes. This emphasis on simulation has spawned the need for groups internal to the organization to take on the responsibility of applying simulation. While the simulation community has made(More)
1 In standard bank theoretic models agents are assumed to be fully rational expected utility maximizers. This fact ignores the huge amount of evidence for anomalies in human behavior found by psychologists. In this paper we argue that the implementation of behavioral concepts into banking theory might increase the predictive power of the models. As an(More)
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