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Decisions also take into account whether an action is proportionate and what the benefits and costs of an action are".
Coase challenged the idea that "externality problems" – in which the costs of an action are felt by those who are not party to it – necessitated government intervention in the form of taxes or regulation.
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Obama's aides say that the debates over Syria are always over the cost of an action versus the cost of inaction.
First, the cost of an action which keeps the property of interest indefinitely is zero: maintaining this property may lead to some action update, but they are not taken into account in the cost computation.
DOI: http://dx.doi.org/10.7554/eLife.02078.011 For the majority of models, the energetic cost of an action potential decreased with heating (93% of models, Figure 3B).
We demonstrate that prioritisation outcomes differ substantially depending on how the benefits and costs of a management action are calculated.
That's worrying, because the costs of a legal action can be exceptionally high; and also damage the brand and reputation of a company.
At every turn, Obama has conducted his foreign policy in a calculated fashion, shrewdly lining up the costs of a potential action against the likely benefits.
One of these, the Health Belief Model, is based on the premise that an individual's belief in a personal threat (susceptibility to and severity of illness), together with beliefs about the benefits and costs of a health action, will predict the likelihood of that behaviour [ 7, 8].
Before you weigh the costs and benefits of an action, what cognitive processes lead you to think of it in the first place?
Our current work is focused on determining how the costs and benefits of an action affect gratitude, how all of these processes work over longer timeframes than a single experiment, and how benefactors respond to signals of gratitude from their beneficiaries.
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