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Risk and return are the most important components in the financial and investment world and the existence of a better balance between them with the goal of the best solution for investing in different assets has always been studied and discussed by researchers. For this purpose in this study introduced the Hybrid Balanced Justified Treynor ratio (HBJTR) criterion.

This study introduced the HBJTR criterion, which has three major attributes, including combination of both the frequency and severity of the risk using Markov regime switching model which was modeled on the Justified Beta (Jßi). The second is the merger of data of both the cycles of boom and recession, which was modeled on the Hybrid Justified Treynor Ratio (HJTR). The third was the balancing act in two periods of boom and recession, which was introduced on the HBJTR model.

Based on a weighted averaging of the Justified Treynor ratio of both the cycles of boom and recession, which was introduced by the HJTR term in this study, the superiority in the first grade related to the two indexes were sugar index (0.0096) and insurance index (0.0053). Finally, using the final model in this study, namely HBJTR, the overall advantage was the defensive index, i.e. the insurance index of 1.23.

In other words, the HBJTRi criterion consists of three steps: first, the Justified Beta (Jßi) and Justified Treynor ratio of each index using two regimes of Markov switching model were calculated for each of the cycles of boom and recession separately according to formulas 8 and 9. In the second step, the weighted average was taken from both Justified Treynor ratios of boom and recession cycles, which was called the HJTR. In the third step, to calculate the HBJTR criterion

High quality healthcare is important to all patients. If healthcare is felt to be high quality, then patients will be satisfied, and the relationship between patients and healthcare providers will improve. Patient satisfaction is among the most commonly used service quality indicators; however, it is not fully known which factors influence satisfaction. Therefore, it is necessary to pay attention to the elements that affect both healthcare quality and patient satisfaction. Nowadays, several methods are used in health economics to assess patient preferences, prioritize them and help health policy makers improve services. Discrete choice experiment (DCE) is one method that is useful to elicit patient preferences regarding healthcare services. The purpose of this paper is to apply DCE and elicit patient preferences in medical centers to rank certain healthcare quality factors.

The descriptive, analytical study used a cross-sectional questionnaire that the authors developed. In total, 12 scenarios were chosen after applying fractional factorials. The questionnaire was completed by patients who were admitted to Kerman General Teaching Hospitals, South-East Iran in 2015. Patient preferences were identified by calculating the characteristics’ marginal effects and prioritizing them. The generalized estimation equation (GEE) model was used to determine attribute effects on patient preferences.

In total, 167 patients completed the questionnaire. Prioritizing the attributes showed that “physical examination” was the most important attribute. Other key features included “cleanliness,” “training after discharging,” “medical staff attention,” “waiting for admission” and “staff attitude.” All attributes were statistically significant (p<0.05) except staff behavior. No demographic characteristic was significant.

To increase hospital patient satisfaction, health policy makers should develop programs to enhance healthcare quality and hospital safety by increasing physical examination quality and other services.

To estimate DCE independent variables, logistic regression models are usually used. The authors used the GEE model to estimate discrete choice experiment owing the explanatory variables’ dependency.

A hypothesis developed in this paper models the relationship between the borrower and the bank as a dynamic game based on incomplete information (business game) and seeks an equilibrium point at which the facilitated applicant can act according to the terms of the loan agreement once the contract is signed and meet the requirements of the contract.

The primary assumption in the formation of the Islamic bank in Islamic society is that the members of the society are Muslims and act according to religious orders. However, the non-fulfillment of divine principles and orders is always possible. In partnership agreements, the risk of infringement is reduced and corrupt contracts are prevented in some circumstances. Our basic model was constructed using the Beer-Quiche classic game, which has been modified dynamically along with a generalization of complexity terms. The information asymmetry led us to use a heterogeneous belief system to evaluate the probability of the customer transmitting a low credit risk signal to the bank and the probability of the customer transmitting a high credit risk signal to the bank. There are several assumptions of the basic model that are released in the extended model by the presence of a social inspector, by exploring credit risk signals in the generalized model and by considering various commitment levels in the comprehensive model.

As a result, it is observed that there is no Nash equilibrium in cases where the customer applies separation strategies. But if the pulling strategies are applied, the Nash equilibrium can be achieved under certain conditions, including inspection bodies in the banking system, the creation of necessary transparency and the proper treatment of criminals by government and regulatory bodies. So, by using alternative belief systems, applying different filters and paying attention to all sectors of the economy, new Nash equilibrium points can be achieved. Moreover, multi-stage facilities payment reduces the risk of corrupt contracts.

This paper sets out to analyze Nash Equilibrium and its possible encounter in Islamic Banking for the first time, utilizing a Bayesian Game-Theoretic framework. A major aspect of the research is the contribution to a better understanding of the role of transparency and government oversight in the implementation of Islamic banking regulatory standards.