Researchers created a mathematical model that helps transplant centers make decisions about when to move forward with a matching donor and when to wait. This work can potentially help decision making in other industries. Photo via Getty Images

To wait, or not to wait? That is the question — or at least it might be, if you need a kidney transplant.

Nearly 89,000 Americans with chronic kidney disease are on a waitlist for a new organ, and an estimated 13 people die each day while awaiting a transplant. But there are real costs to matching patients with the first donor that becomes available, just as there are equally real costs to having them wait in hopes of finding a better one.

Recently, Rice Business professor Süleyman Kerimov and colleagues at Stanford University and Northwestern University developed a mathematical model that helps clarify when it's best to match patients to donors as quickly as possible and when it's best to wait.

Their findings, which appear in two papers published in Management Science and Operations Research, respectively, could help optimize all manner of matching markets in which participants seek to connect with potential partners based on mutual compatibility — a sprawling category that encompasses everything from e-commerce platforms to labor markets that match employees with employers.

Kerimov and his colleagues focused on programs that match live kidney donors with people who need transplants. Live donors typically volunteer to give one of their kidneys to a loved one. But biological differences between a donor and their intended recipient can render the pair incompatible.

Kidney exchange programs solve this problem by swapping donors amongst different patient-donor pairs, choreographing a kind of kidney-transplant square dance aimed at finding a compatible partner for every willing donor.

In countries such as Canada and the Netherlands, kidney-matching programs perform a batch of matches every few months (called periodic policies). American programs, meanwhile, tend to perform daily matches (called greedy policies). Both models seek to produce the greatest number of high-quality transplants possible, but they each have advantages and disadvantages.

Less frequent matches in a periodic policy allow more patient-donor pairs to accumulate in the kidney exchange network, creating potential for better matches over time. But this approach risks making some patients sicker as they wait for a better match that might never appear.

Arranging feasible matches as soon as they become available in a greedy policy avoids that predicament. But it means passing up the opportunity to make a potentially better match that could represent the possibility of a longer, healthier life.

Balancing these trade-offs is tricky. There is no way of predicting precisely when a patient-donor pair with a particular set of characteristics will show up at the kidney-exchange network. And in the world of organ transplants, there are no do-overs.

Kerimov and his colleagues have constructed a mathematical model that represents a simplified version of a kidney exchange network.

Within the model, the researchers could dictate which patient-donor pairs could be matched with one another. They can also assign different values to individual matches based on the number of life years they provide. And they can establish the probability that various kinds of patient-donor pairs with particular characteristics might arrive at the network and queue up for a transplant at any given time.

Having set those parameters, the researchers applied different matching policies and compared the results. As it turns out, the answer to whether one should wait or not is: It depends.

To determine which policies generated the best outcomes — i.e., performing matches either daily or periodically — the researchers calculated the difference between the total value in life years that could possibly be generated within the network and the amount generated by a specific policy at a particular point in time. The goal was to keep that number, evocatively dubbed "all-time regret," as small as possible over both the short and long term.

In their first paper, Kerimov and his team explored a complex network in which donor kidneys could be swapped amongst three or more patient-donor pairs. When such multiway matches were possible, the cost of applying a daily-match policy turned out to be onerous. Using all available matches as quickly as possible eliminated the chance of later performing potentially higher-value matches.

Instead, the researchers found they could minimize regret by applying a periodic policy that required waiting for a certain number of patient-donor pairs to arrive before attempting to match them. The model even allowed the team to calculate precisely how long to wait between matchmaking sessions to get the best possible results.

In their second paper, however, the team looked at a simpler network in which kidneys could only be swapped between two donor-patient pairs. Here, their findings contradicted the first: Applying a daily-match policy minimized regret; a periodic matching process yielded no benefit whatsoever.

To their surprise, the researchers discovered they could design a foolproof algorithm for making two-way matches in simple networks. The algorithm employed a ranked list of possible match types; and the researchers found that no matter how many patient-donor pairs of various kinds randomly arrived at the network, the best choice was always simply to perform the highest-ranked match on the list.

In future research, Kerimov hopes to refine the model by feeding it data on real patient-donor pairs that have participated in actual kidney exchange programs. This would allow him to create a more realistic network, more accurately calculate the likelihood that particular kinds of patient-donor pairs will show up, and assign values to matches based not only on life years but also on rarity and difficulty. (Certain blood types and antibody profiles, for example, are rarer or more difficult to match than others.)

But Kerimov already suspects that in a real-world situation, the wisest course of action will be to alternate between periodic and greedy policies as circumstances dictate. In a simple region within a kidney exchange network that only allows for two-way matches, pursuing a greedy policy that involves taking the first match that appears on a fixed menu of options would be the best choice. In a more complex region that allows three-way matches, however, pursuing a periodic matching policy that involves waiting to make rarer and more difficult matches would ultimately offer more patients more years of healthy life.

The benefits of choosing flexibly between greedy and periodic policies should hold for any kind of matching market that can be represented by a network with simpler and more complex regions, such as a logistics system that matches online orders to delivery trucks or a carpooling system that matches passengers with drivers across different parts of a city.

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This article originally ran on Rice Business Wisdom and was based on research from Süleyman Kerimov, an assistant professor of management – operations management in the Jones Graduate School of Business at Rice University.

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Houston's surge in new startups cools since pandemic peak, study shows

by the numbers

Startup activity in the Houston metro area has dipped since its pandemic peak, according to a new study.

Dating back to 2005, the volume of applications to form new businesses in the Houston area hit its highest level in 2021 (151,804). Since then, though, the application volume has fallen, according to the study, conducted by business debt collection agency The Kaplan Group. Here's the breakdown from the last few years:

  • Applications dropped to 130,011 in 2022
  • Climbed to 145,926 in 2023
  • Dropped again to 138,595 in 2024

Looking at the Houston area’s figures another way, the 2024 total surpassed the 2015-19 average by roughly 60 percent to 90 percent, the study shows.

Dallas-Fort Worth has seen similar startup declines (162,312 in 2021 vs. 153,378 in 2024), but the San Antonio metro area recorded higher application volume in 2023 and 2024 (37,412 and 35,798, respectively) than it did in 2021 (34,208).

The story is different in the Austin metro area. Application volume in 2023 and 2024 (53,200 and 59,190, respectively) exceeded the 2021 total (47,106).

The picture for startup activity in Texas’ four major metros deviates from the nationwide picture.

“America’s real viral trend is entrepreneurship,” says The Kaplan Group. “New business formations are reaching an all-time high across the country.”

In the U.S., per-month business formations soared 435 percent from 2004 (89,561) to 2025 (478,805), the study says.

Amid the growth of startup activity, business bankruptcies in the U.S. have plummeted almost 74 percent since 2004, according to The Kaplan Group.

“The country’s business scene has grown both more resilient and more ambitious in the past two decades,” the collection agency says.

12+ can't-miss Houston business and innovation events for September

where to be

Editor's note: Houston's business and innovation events are back in session. From the return of Houston Energy and Climate Startup Week to a send-off for an impactful innovation leader and several health conferences, here's what not to miss and how to register. Please note: this article may be updated to include additional event listings.

Sept. 5-7 — Houston Hackathon

Impact Hub Houston is bringing back the Houston Hacakthon this month, where developers of all skill sets can work together to propose solutions to some of the Bayou City’s most pressing issues. The event is focused on ideating, designing, and developing both policy-based and tech solutions to improve Houston.

This event starts Saturday, Sept. 5, at noon at the Ion. Register here.

Sept. 8 — Community Celebration: A Send-Off for Paul Cherukuri

Come out to the Ion to celebrate Paul Cherukuri, Rice’s first chief innovation officer, whose visionary leadership has left a lasting impact on Houston’s innovation ecosystem. Cherukuri is leaving the university to accept a position at the University of Virginia. Hear remarks from Cherukuri and enjoy a networking reception following the talk.

This event is Monday, Sept. 8, from 2:30-5:00 p.m. at the Ion. Register here

Sept. 11 — Houston Methodist Leadership Speaker Series – Dr. Evan Collins

The Houston Methodist Tech Hub at the Ion will host its recurring leadership speaker series, this time featuring Dr. Evan Collins, chief of the Houston Methodist Hand & Upper Extremity Center at Houston Methodist and the Houston Methodist Center for Innovation's first innovator-in-residency. Collins will present on the creative process of innovation.

This event is Thursday, Sept. 11, from 4:45-6 p.m. at the Ion. Register here.

Sept. 12 — Future of Space

The Greater Houston Partnership’s 2025 Future of Space event will feature a keynote address by Vanessa E. Wyche, acting associate administrator of NASA. In her new role, Wyche serves as NASA’s chief operating officer, leading more than 18,000 employees and overseeing an annual budget exceeding $25 billion. Discussions will highlight how Houston’s space ecosystem is driving economic growth, technological innovation and new opportunities across the region and the nation.

The event is Friday, Sept. 12, from noon-1:30 p.m. at the Royal Sonesta. Find more information here.

Sept. 15-19 — Houston Energy and Climate Startup Week

Houston Energy and Climate Startup Week returns for its second year, with panels, happy hours and pitch days focused on the energy transition. The week features major events, including the Energytech Nexus Pilotathon, the Rice Alliance Energy Tech Venture Forum, Halliburton Labs Finalists Pitch Day and many others. See a preview of the week on our sister site EnergyCapitalHTX.com and learn more in the event listings below.

This event starts Monday, Sept. 15. The Ion District will host many of the week's events. Find more information here.

Sept. 16 — Energytech Nexus Pilotathon

Grab breakfast and take in keynotes and panels by leaders from New Climate Ventures, V1 Climate, Halliburton, Energy Tech Nexus and many others during Houston Energy & Climate Week. Then hear pitches during the Pilotathon, which targets startups ready to implement pilot projects within six to 12 months.

This event is Tuesday, Sept. 16, from 8 a.m.-5 p.m. at GreenStreet. Get tickets here.

Sept. 16 — Meet the Activate Houston Cohort 2025 Fellows

Meet Activate's latest cohort, which was named this summer, and also learn more about its 2024 group during Houston Energy & Climate Week.

This event is Tuesday, Sept. 16, at 5 p.m. at the Ion. Register here.

Sept. 17 — Green ICU Conference: Sustainability in Health Care for a Healthier Future

Houston Methodist will host its inaugural Green ICU Conference during Houston Energy & Climate Week. The conference is designed to bring together healthcare professionals, industry leaders, policymakers and innovators to explore solutions for building a more sustainable healthcare system.

This event is Wednesday, Sept. 17. from 8 a.m.-3 p.m. at TMC Helix Park. Register here.

Sept. 18 — Rice Alliance Energy Tech Venture Forum

Hear from clean energy startups from nine countries and 19 states at the 22nd annual Energy Tech Venture Forum during Houston Energy & Climate Week. The 12 companies that were named to Class 5 of the Rice Alliance Clean Energy Accelerator will present during Demo Day to wrap up their 10-week program. Apart from pitches, this event will also host keynotes from Arjun Murti, partner of energy macro and policy at Veriten, and Susan Schofer, partner at HAX and chief science officer at SOSV. Panels will focus on corporate innovation and institutional venture capital.

This event is Thursday, Sept. 18, from 7:30 a.m.-5 p.m. at Rice University’s Jones Graduate School of Business. Register here.

Sept. 18 — ACCEL Year 3 Showcase

Celebrate Advancing Climatetech and Clean Energy Leaders Program, or ACCEL, an accelerator program for startups led by BIPOC and other underrepresented founders from Greentown Labs and Browning the Green Space. Two Houston companies and one from Austin are among the eight startups to be named to the 2025 group. Hear startup pitches from the cohort, and from Greentown's Head of Houston, Lawson Gow, CEO Georgina Campbell Flatter and others. This event is part of Houston Energy & Climate Week.

This event is Thursday, Sept. 18, from 5-8 p.m. at Greentown Labs. Get tickets here.

Sept. 19 — Halliburton Labs Finalists Pitch Day

Hear from Halliburton Labs' latest cohort of entrepreneurs during Houston Energy & Climate Week. The incubator aims to advance the companies’ commercialization with support from Halliburton's network, facilities and financing opportunities. Its latest cohort includes one company from Texas.

This event is Friday, Sept. 19, from 8 a.m.-noon at The Ion. Register here.

Sept. 21-25 — AI in Health Conference

The Ken Kennedy Institute at Rice University will present the fourth annual AI in Health Conference, which aims to bridge the gap between artificial intelligence and real-world health outcomes. The event will explore the current landscape of artificial intelligence in health and present a research-driven outlook for the future of computational health innovation.

This conference is from Tuesday, Sept. 23, to Wednesday, Sept. 24. Additional workshops will be offered on Monday, Sept. 22, and Thursday, Sept. 25. The events will be held at the BioScience Research Collaborative at Rice University. Find more information here.

Sept. 25 — Industrial AI Nexus Connect

InnovateEnergy and Industrial AI Nexus will host a talk by Matthew Alberts, manager of innovation and emerging technologies at Southern Company and author of "The Gen AI Manufacturing Revolution: Smarter Factories, Enhanced Products, and Reduced Costs." Alberts will present “The Gen AI Revolution," followed by happy hour and a complimentary book signing.

This event is Thursday, Sept. 25, from 5:30-7:30 p.m. at the Ion. Register here.

Texas is the 4th hardest working state in America, report finds

Ranking It

It's no secret that Texans are hardworking people. To align with the Labor Day holiday, a new WalletHub study asserts that the Lone Star State is one of the five most hardworking states in America for 2025.

The report ranked Texas the fourth most hardworking state this year, indicating that its residents are working harder than ever after the state fell into seventh place in 2024. Texas previously ranked No. 4 in 2019 and 2020, slipped into No. 5 in 2021 and 2022, then continued falling into sixth place in 2023. But now the state is making its way back to the top of the list.

WalletHub's analysts compared all 50 states based on "direct" and "indirect" work factors. The six "direct" work factors included each state's average workweek hours, employment rates, the share of households where no adults work, the share of workers leaving vacation time unused, and other data. The four "indirect" work factors consisted of workers' average commute times, the share of workers with multiple jobs, the annual volunteer hours per resident, and the average leisure time spent per day.

North Dakota landed on top as the most hardworking state in America for 2025 for another year in a row, earning a score of 66.17 points out of a possible 100. For comparison, Texas ranked No. 4 with 57.06 points. Alaska (No. 2), South Dakota (No. 3), and Hawaii (No. 5) round out the top five hardest working states.

Across the study's two main categories, Texas ranked No. 5 in the "direct" work factors ranking, and earned a respectable No. 18 rank for its "indirect" work factors.

Broken down further, Texans have the second-longest average workweek hours in America, and they have the 12th best average commute times. Texans have the 6th lowest amount of average leisure time spent per day, the report also found.

According to the study's findings, many Americans nationwide won't take the chance to not work as hard when presented with the opportunity. A 2024 Sorbet PTO report found 33 percent of Americans' paid time off was left unused in 2023.

"While leaving vacation time on the table may seem strange to some people, there are plenty of reasons why workers choose to do so," the report's author wrote. "Some fear that if they take time off they will look less dedicated to the job than other employees, risking a layoff. Others worry about falling behind on their work or are concerned that the normal workflow will not be able to function without them."

The top 10 hardest working states are:

  • No. 1 – North Dakota
  • No. 2 – Alaska
  • No. 3 – South Dakota
  • No. 4 – Texas
  • No. 5 – Hawaii
  • No. 6 – Virginia
  • No. 7 – New Hampshire
  • No. 8 – Wyoming
  • No. 9 – Maryland
  • No. 10 – Nebraska
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This story originally appeared on CultureMap.com.