Narrow Results

We study the distributions of money in a simple closed economic system for different types of monetary transactions. We know that for arbitrary and random sharing with locally conserving money transactions, the money distribution goes to the Gibb's distribution of statistical mechanics. We then consider the effects of savings, etc. and see how the distribution changes. We also propose a new model where the agents invest equal amounts of money in each transaction. We find that for short time-period, the money distribution obeys a power-law with an exponent very close to unity, and has an exponential tail; after a very long time, this distribution collapses and the entire amount of money goes to a tiny fraction of the population.

A model on the effects of leader, media, viruses, worms, and other agents on the opinion of individuals is developed and utilized to simulate the formation of consensus in society and price in market via excess between supply and demand. The effects of some time varying drives (harmonic and hyperbolic) are also investigated.

The Smith dilemma refers to the inconsistency ("strictly an error") between the Smith theory on the efficiency of the market based on the absence of increasing returns and the Smith theorem on the facilitation of the economies of specialization (which gives rise to increasing returns) by the extent of the market. This paper argues that, despite the prevalence of increasing returns, Adam Smith was largely right on the efficiency of the invisible hand and hence that the Smith dilemma does not really exist. Ignoring separate issues such as environmental disruption, the market is very efficient in coordinating the allocation of resources even in the presence of increasing returns. The efficiency due to the automatic and incentive-compatible adjustments, free trade and enterprise (entry/exit) largely prevails. The Dixit–Stiglitz model shows that the free-entry market equilibrium coincides with the (non-negative profit) constrained optimum when the elasticity of substitution between products is constant. For non-constant elasticities, the divergences between the market equilibrium and the constrained optimum in output levels, in the numbers of firms and in utility levels are shown to be small.

Inventories and price changes are correlated. The inverse relation is most obvious in housing where inventories build in low-demand markets and shrink in high-demand markets. This is a puzzle. Symmetry of information among buyers and sellers would seem to imply that sellers would change their reservation value by the amount that buyers change their offers. Because there is heterogeneity among buyers in the valuation of a given house, sellers set prices strategically. When demand falls, sellers rationally lower their prices, but not by enough to keep the probability of sale constant. As a result, inventories grow.

In this paper, we apply market mechanism and agent to build grid resource management, where grid resource consumers and providers can buy and sell computing resource based on an underlying economic architecture. All market participants in the grid environment including computing resources and services can be represented as agents. Market participant is registered with a Grid Market Manager. A grid market participant can be a service agent that provides the actual grid service to the other market participants. Grid market participants communicate with each other by communication space that is an implementation of tuple space. In this paper, Grid agent model description is given. Then, the structure of Grid Market is described in detail. The design and implementation of agent oriented and market oriented grid resource management are presented in this paper.

We investigate the Minority Game, a toy model for agents buying and selling a commodity. The dynamics of the model are decomposed into two processes, firstly, an agent's choice of active strategy, secondly, the interaction between agents while they play. The latter is suitably described by the Hamming distance between strategies. Here, we argue that the first process is described by the history distribution.

2013 – A Year of Access, Convergence and Technology.

The Chinese Boom – Predictions for 2013.

The IVD Market from an Investor's Perspective.

Changing Paradigms of the Pharma Industry: Global Economy or Tougher Regulatory Standards to Blame?

Neuroscience – The Search Continues.

BioScience Managers banks on growth of anti-infectives market.

Rodin Therapeutics applies insights of epigenetics to neurological disorders.

LBT Innovations finalizes joint venture to drive global production of world-class automated diagnostics technology.

Phylogica expands collaborations with Janssen for peptide-drug conjugates.

Immune Design and Medicago announce license agreement and collaboration to develop novel adjuvanted pandemic influenza vaccines.

Bayat Foundation inaugurates new pediatric critical care facility at Indira Gandhi Hospital in Kabul.

ScinoPharm and Lee's Pharmaceutical jointly develop drug products for the Chinese market.

WuXi PharmaTech begins construction of new R&D and cGMP manufacturing campus in Changzhou.

NeoStem signs Licensing Agreement with Cellular Biomedicine Group and plans to begin Phase 2 hepatocellular carcinoma trial in China.

Abiogen Pharma signed agreement with Lee's Pharma to market Neridronic Acid in mainland China, Taiwan, Hong Kong and Macau.

InSightec launches its first centers in China.

Shuwen Biotech and DiagnoCure sign exclusive agreement for commercializing colorectal cancer staging test in China.

The Jackson Laboratory and Frasergen to begin creation of cancer genomics facility in Hubei Province, China.

RuiYi and iHuman Institute form collaboration to identify novel antibodies targeting GPCRs.

Enigma Diagnostics and China's ICDC collaborate to develop MDX infectious disease assays for use at point-of-care.

Drug to inhibit liver cancer discovered.

SINGAPORE – The Only Singapore Private Hospital to Achieve Success at Asian Hospital Management Awards 2016.

UNITED STATES – Study Finds Vision Loss Due to Diabetes Is Rising Globally.

UNITED STATES – How Sleep Deprivation Harms Memory.

UNITED KINGDOM – Plasticell and CellSpring Collaborate to Validate Osteogenic Cell Therapy and 3D Cell Culture Models for High Performance Drug Screening.

JAPAN – Takeda Announces Bold, New Access to Medicines Strategy.

THAILAND – Ministry of Public Health Embarks on eHealth in Thailand with VMware Virtualization and Mobility Solutions.

AUSTRALIA – Australian-led Global Sleep Apnea Medical Device Study Shows Treatment Improves Wellbeing but Without Any Cardiovascular Benefit.

RUSSIA – R-Pharm Produces Biological Drugs in Yaroslavl with GE Healthcare's FlexFactory™ Manufacturing Platform.

AUSTRALIA & RUSSIA – Pharmaxis Announces Russian Approval for Bronchitol Largest Market Accessed to Date.

Mundipharma and Helsinn Group Expand Exclusive Licensing and Distribution Agreements for Leading Anti-emetic Products in Middle East, Africa, Latin America and Indonesia.

Leading Regional Medical Technology Trade Associations Reinforce their Commitment to Evidence-based Healthcare.

Lonza Expands Airway Disease Portfolio with Addition of IPF Airway Cells.

Boston Scientific Launches Interventional Cardiology Online Education Portal for Physicians.

Pfizer Presented Data from PALOMA-2 Phase 3 Study Demonstrating Clinical Benefit of IBRANCE^® (palbociclib) in Asian Women with ER+, HER2- Metastatic Breast Cancer.

Global Healthcare Systems at Pivotal Point as Technology Offers Solutions to Industry Challenges – The Economist Intelligence Unit.

Cellectricon and Censo Biotechnologies Introduce a Joint Technology Access Program Utilizing High-Quality Human iPSC-based Discovery Services for CNS and Pain Research.

This paper tests the relationship between takeovers and poor management performance, known as the market discipline hypothesis. We create a proprietary new Australian dataset for this study by individually researching company reports for executive retention data. We assess takeover targets for pre-bid managerial inefficiency and find evidence that Australian target companies exhibit negative abnormal returns prior to takeover. In particular, we find that disciplinary targets underperform their non-disciplinary counterparts. Our tests take into account the difference between friendly and hostile takeovers, and the industry sector in which the target firm operates.

Our research examines the relationships among four factors thought to be important to new product developing organizations. Those factors include the speed with which product developers produce new products and bring them to market; the degree of integration among the various groups participating in the New Product Development (NPD) process; the proficiency with which the product developers perform their tasks; and the degree of success attained upon the completion of the NPD process. Market dynamism, or the degree of customer changeability, and market hostility, or the degree of market competitiveness, are thought to moderate the relationships among the four previously noted factors.

The research questions driving our investigation include: (1) Does NPD project success vary with NPD process speed?; (2) Does NPD speed vary across innovation types (new-to-the-world products, line extensions, etc.)?; (3) Does the strength of the relationships among NPD speed, organizational integration, NPD proficiency (overall and Fuzzy Front End [FFE]), and success vary with the degree of environmental dynamism (changing customer needs)?; and (4) Does the strength of the relationships among NPD speed, organizational integration, NPD proficiency (overall and FFE), and success vary with the degree of market hostility (competition)? We probed the electrical equipment, medical device, and heavy construction equipment industries to provide the data to address our research questions.

Our research suggests that the speed with which projects were completed in our sample did not vary between projects that were more or less successful. We also found that the speed with which projects were completed did not vary across various product categories (new-to-the-world, line extensions, etc.) of newly developed products for the industries studied. Primarily, we found that market dynamism moderates the relationship between NPD speed and NPD proficiency whereas environmental hostility mediates NPD speed and NPD proficiency, NPD speed and organizational integration, and NPD speed and new product market success.

Our data indicate that speed is not associated with NPD proficiency, degree of organizational integration, and new product success in less dynamic markets whereas speed has an inverse relationship with successfully entering new markets, the proficiency with which development and launch activities are performed, and the proficiency with which new product marketing strategies were implemented in more dynamic markets. Finally, we found that speed is inversely related to successfully entering new markets, overall NPD proficiency and organizational integration, predevelopment stage proficiency and organizational integration, and development and launch proficiency and organizational integration in non-hostile (competitive) environments whereas we found no significant relationships between these factors and speed in hostile environments. We provide several implications for both scholars and NPD managers.

The ability of accurate epidemic prediction facilitates early preparation for the disease and minimizes losses due to any strikes. We devised a platform on the Web for users to exchange their information/opinions on the possible avian flu outbreaks in Taiwan. The likelihood of the first human infection from bird flu in Taiwan in, say, December 2005 is securitized in the form of a futures contract. Incentives are introduced via a tournament: users trade the futures in the market on our Web server in order to win the awards at the end of the tournament. We ran such a tournament during the period between December 2005 and February 2006. The results of the futures' prices correctly predicted no outbreaks of bird flu among the residents in Taiwan during the 3-month period, suggesting that the design of the futures exchange on the Web be a potentially useful tool for event forecasting. Another crucial aspect of the experiment is that, associated with the price convergence, the transaction volume also quickly converges to zero, which is closely related to the famous no-trade theorem in theoretical economics.

Our research examines the relationships among four factors thought to be important to new product developing organizations. Those factors include the speed with which product developers produce new products and bring them to market; the degree of integration among the various groups participating in the New Product Development (NPD) process; the proficiency with which the product developers perform their tasks; and the degree of success attained upon the completion of the NPD process. Market dynamism, or the degree of customer changeability, and market hostility, or the degree of market competitiveness, are thought to moderate the relationships among the four previously noted factors.

The research questions driving our investigation include: (1) Does NPD project success vary with NPD process speed?; (2) Does NPD speed vary across innovation types (new-to-the-world products, line extensions, etc.)?; (3) Does the strength of the relationships among NPD speed, organizational integration, NPD proficiency (overall and Fuzzy Front End [FFE]), and success vary with the degree of environmental dynamism (changing customer needs)?; and (4) Does the strength of the relationships among NPD speed, organizational integration, NPD proficiency (overall and FFE), and success vary with the degree of market hostility (competition)? We probed the electrical equipment, medical device, and heavy construction equipment industries to provide the data to address our research questions.

Our research suggests that the speed with which projects were completed in our sample did not vary between projects that were more or less successful. We also found that the speed with which projects were completed did not vary across various product categories (new-to-the-world, line extensions, etc.) of newly developed products for the industries studied. Primarily, we found that market dynamism moderates the relationship between NPD speed and NPD proficiency whereas environmental hostility mediates NPD speed and NPD proficiency, NPD speed and organizational integration, and NPD speed and new product market success.

Our data indicate that speed is not associated with NPD proficiency, degree of organizational integration, and new product success in less dynamic markets whereas speed has an inverse relationship with successfully entering new markets, the proficiency with which development and launch activities are performed, and the proficiency with which new product marketing strategies were implemented in more dynamic markets. Finally, we found that speed is inversely related to successfully entering new markets, overall NPD proficiency and organizational integration, pre-development stage proficiency and organizational integration, and development and launch proficiency and organizational integration in non-hostile (competitive) environments whereas we found no significant relationships between these factors and speed in hostile environments. We provide several implications for both scholars and NPD managers.

Located at the heart of the Middle East, Iraq is an oil-producing country with economic potential. Although its economy relies highly on selling oil and gas products, the country has a fascinating history of traditional bazaars. In recent years, Iraq has changed dramatically due to increased foreign direct investments, especially in Kurdish regions. New technology-based firms are growing in terms of quantity and quality during the past decade. This chapter reviews the historical background of the country and also discussed the context of business in Iraq. Finally, the authors provide a series of directions for the future of Iraq.

The existing theoretical descriptions of macroeconomic systems include inter-relations between system parameters taken from interpretation of retrospective information and applicable for statement and explanation of facts taken place in the past. These interrelations and results are linked with fixed timing or space in the past and are static in nature expressed by absolute numbers. They do not allow analyzing outlooks in case the conditions change. The proposed description of market macroeconomic systems is based on presentation of production and consumption as developing processes in time and allows reflecting both the static and evolution of the system.