Tao Song

Yan Lu

Dong Huang

Boris Krylov

Ma Ke

Pain is an unpleasant sensory and emotional experience and the most frequent causes for patients to seek medical care. Persistent chronic pain affects millions of people worldwide, causing low quality of health and emotional status, as well as posing a significant social and economic burden. Chronic pain is the long-standing pain that are classified as different types, including chronic primary pain and secondary pain types caused by various diseases. The complexity of cause and symptom in chronic pain is associated with changes in different levels of nervous system, from molecular interaction, synaptic connection, cellular response, and neural circuits. The development of new treatments to manage chronic pain shall base on the better standing of the neuropathological mechanism underlying the symptom, the exploration on the methods of a better diagnosis, and the communication of clinical application standards and results.

Focus on Chronic Pain: Neuropathological Mechanism, Clinical Diagnosis and Treatment

Using transaction data from a large non-fungible token (NFT) trading platform, this paper examines how the behavioral bias of selection-neglect interacts with extrapolative beliefs, accelerating the boom and delaying the crash in the recent NFT bubble. We show that the price-volume relationship is consistent with extrapolative beliefs about increasing prices which were plausibly triggered by a macroeconomic shock. We test the hypothesis that agents prone to selection-neglect formed even more optimistic beliefs and traded more aggressively than their counterparts during the boom. When liquidity for NFTs declined, observed NFT prices were subject to severe selection bias due in part to seller loss aversion delaying the onset of the crash. Finally, we show that market participants with sophisticated bidding behavior were less subject to selection bias and performed better.

Dong Huang

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