Relationship value and economic value are evaluated by the same part of the brain — ScienceDaily

Wishing a friend happy birthday or spending a long period of time listening to their problems signifies commitment to the friendship. In other words, these actions serve as commitment signals (*1) and it is known that people value their relationships more with others who behave this way towards them.

Researchers from several Japanese universities have revealed that the orbitofrontal cortex, the part of the brain responsible for calculating economic value, is also responsible for judging the value of relationships with friends based on the received commitment signals.

The research group consisted of Professor OHTSUBO Yohsuke (Graduate School of Humanities, Kobe University), Professor OHIRA Hideki (Graduate School of Informatics, Nagoya University), Aichi Medical University’s Lecturer MATSUNAGA Masahiro (and the Department of Health and Psychosocial Medicine research team), and Lecturer HIMICHI Toshiyuki (Kochi University of Technology).

These findings were published in the online edition of ‘Social Neuroscience’ on September 25.

Main Points

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Stanford Pair Win Nobel For Economic Ideas Driving Ebay, Cellphone Spectrum Sales

by Erik Sherman

Going once, going twice—the winners of this year’s Nobel Prize in Economic Sciences are two Stanford economists whose work lets the world make mobile phone calls, switch on a light, and buy and sell on eBay.

Robert Wilson and Paul Milgrom, are famous for their groundbreaking work on auction theory. They took the 2,500-year-old practice of selling goods to the highest bidder and transformed how they worked and how the world looked at a result.

One of the major areas they developed was analysis of how the rules that govern auctions affect the efficiency of the outcomes—how bidders get the value they want, sellers maximize their income, and the process can happen more easily and quickly. Then they found ways to move beyond the fast-talking and gavel-banging stereotype of an auction and into many new types that new rules could enable.

“Sometimes the invisible hand of the

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NASA efforts had a $65 billion economic impact last year, agency report shows

NASA’s first economic impact report suggests that the agency generated nearly $65 billion in economic impact during fiscal year 2019, with much of that activity coming from the Artemis program to return astronauts to the moon by 2024.



NASA's Space Launch System rocket, or SLS, is just one piece of the agency's "moon to Mars" initiative.


© Provided by Space
NASA’s Space Launch System rocket, or SLS, is just one piece of the agency’s “moon to Mars” initiative.

The agency released the report (which covers the period between Oct. 1, 2018 to Sept. 30, 2019) as it continues negotiations for its fiscal 2021 budget. That 2021 budget request by the Trump administration calls for a 12% increase for the agency to $25 billion, including a substantial contribution to Artemis for a planned 2024 astronaut landing on the moon. That budget has not been approved yet, as both the House and Senate continue markups of their versions of the bill. On Sept. 30, the Senate averted a government shutdown

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Trump’s economic advisor was caught on camera slamming the president’s ‘crappy’ debate performance



Stephen Moore wearing a suit and tie: Stephen Moore. Samuel Corum/Getty Images


© Samuel Corum/Getty Images
Stephen Moore. Samuel Corum/Getty Images

  • A senior economic advisor to Trump was filmed slamming his debate performance.
  • Stephen Moore told a pro-Trump event that his performance against Biden was “crappy,” in footage published by Huff Post.
  • Moore spoke at an event in Washington organised by pro-Trump group FreedomWorks.
  • Trump has previously praised Moore as “a great pro-growth economist and a truly fine person”
  • Visit Business Insider’s homepage for more stories.

An economic advisor to Donald Trump was filmed describing his performance in the recent debate against Joe Biden as “crappy” in newly-released footage from earlier this month.

Stephen Moore, who Trump has previously described as “a great pro-growth economist and a truly fine person”, made the remarks earlier this month at the Election Protection Summit in Washington organised by pro-Trump group FreedomWorks.

“It was not a great performance by Trump; in fact, I thought it

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Mohali centre develops technology for eco-friendly, economic farming method : The Tribune India

Vijay Mohan

Tribune News Service

Chandigarh, October 11

The Centre for Development of Advanced Computing (C-DAC), Mohali, has developed the technology for aquaponic cultivation of plants, which is not only environment-friendly but also has high socio-economic benefits for the farming community.

Aquaponics is an emerging technique in which both fish as well as plants complement each other to sustain and grow. The fish waste provides organic food for plants and the plants naturally filter the water which is used to replenish the fish tank. There is no requirement for the use of soil and fertilisers.

“The process is completely organic, increases the productivity of the given land, saves water and also augments the farmers’ income,” Dr PK Khosla, director C-DAC, said, adding: “The technology has been developed and suitable protocols have been evolved for scientists and farmers,” he added.

A pilot project to develop the technology was awarded to C-DAC

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Will Bitcoin Make A Good Investment? Economic Uncertainty (Cryptocurrency:BTC-USD)

In our previous analysis, we discussed one primary reason that Bitcoin will make a good long-term investment as the price is likely to go up and stabilize once institutions gain SEC-regulated access. Fidelity and the NYSE-founded Bakkt are two examples of platforms that will influence the first phase of bitcoin’s broader adoption. These two platforms have not yet launched, but a new supply-and-demand dynamic will occur when institutional investors can access cryptocurrencies.

The next phase for Bitcoin stability and price support will hinge on the eroding trust in fiat currencies – both globally and also from younger generations who are digital natives with good reason to seek alternatives outside of the fiat system.

Global Unrest Sees Bitcoin as Alternative to Fiat Currency

Economists have discussed the effects of going off the gold standard during Nixon’s presidency ad nauseum, yet this has been a futile conversation in the past as there

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Research may curb economic losses to power plants after earthquakes — ScienceDaily

Sitting atop power transformers are wavy shaped bushing systems that play a critical role in supplying communities with electricity. However, these objects are also susceptible to breaking during earthquakes. Once damaged, bushings can cause widespread outages and burden the state with expensive repairs.

In a recent study, Texas A&M University researchers have shown that during high seismic activity, the structural integrity of bushing systems can be better maintained by reinforcing their bases with steel stiffeners. Also, by using probability-based loss assessment studies, they found that the economic burden due to damage to bushing systems from earthquakes is up to 10 times lower for steel-reinforced transformer bushing systems compared to other bushing configurations.

“Transformer bushing systems are vital to electrical substation networks, and these components are especially vulnerable in high-seismic regions, like in California or parts of the northeast,” said Dr. Maria Koliou, assistant professor in the Zachry Department of Civil

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University of Utah Establishes Partners for Innovation, Ventures, Outreach & Technology (PIVOT) Center as Lead for Innovation and Economic Engagement

President Ruth V. Watkins is pleased to announce that the University of Utah has formed the Partners for Innovation, Ventures, Outreach & Technology (PIVOT) Center, a centralized office that will drive the U’s expanding efforts for economic engagement for the greater Utah community. The new office builds on the work by the Center for Technology & Venture Commercialization (TVC), to serve as a hub to foster partnerships between industry, university and government entities. This effort formalizes the U’s commitment to increase its impact on Utah’s economy by catalyzing innovation.

As a crucial foundation for PIVOT Center, operations previously led by TVC will continue to assist the U’s faculty inventors in bringing their innovations to market by spearheading all aspects of invention management, patent prosecution, licensing, startup formation and support, equity management and early stage funding. The new office leverages these existing resources and will hire new staff to oversee economic

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Pompeo delivers warning to Italy over China’s economic influence, 5G

By Angelo Amante

ROME (Reuters) – U.S. Secretary of State Mike Pompeo delivered a warning to Italy over its economic relations with China on Wednesday, and described Chinese mobile telecoms technology as a threat to Italy’s national security and the privacy of its citizens.

“The foreign minister and I had a long conversation about the United States’ concerns at the Chinese Communist Party trying to leverage its economic presence in Italy to serve its own strategic purposes,” Pompeo told a joint news conference with Foreign Minister Luigi Di Maio.

“The United States also urges the Italian government to consider carefully the risks to its national security and the privacy of its citizens presented by technology companies with ties to the Chinese Community Party.”

Di Maio said the Italians were aware of U.S. concerns over Chinese 5G technology, and “fully realise the responsibility faced by every country when dealing with security”.

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Halliburton VP: Technology, collaboration will lead to economic recovery

All facets of the oil and gas industry have suffered declines amid the COVID-19 pandemic unseen in previous downturns.

But Shannon Slocum, senior vice president of global business development and marketing and member of the executive committee at Halliburton, believes the lessons learned in previous downturns, specifically the 2015-2016 downturn, have helped companies weather the storm.

“After the second quarter, we believe the rig count is stabilizing and we’re optimistic and believe we’re seeing the beginnings of a recovery,” he said during the Texas Independent Producers and Royalty Owners Association’s 2020 Summer Conference, held virtually last week.

“Nothing dramatic, but a positive start,” he said. “Our industry is not out of the woods yet – far from it. In fact, the energy sector accounts for only 2.63 percent of the Standard & Poor’s 1500, an all-time low. Something needs to change before capital comes back into our space.”

Slocum said

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