We consider insurance markets with adverse selection and propose a mechanism under which a separating Nash equilibrium always exists (even when a Rothschild-Stiglizt equilibrium does not). This equilibrium is unique and always (interim) incentive efficient. In our setting, the Rothschild-Stiglizt equilibrium exists and coincides with ours only if the former is incentive efficient. Otherwise, ou...

single crystals Xiaohang Zhang, Shanta R. Saha, Nicholas P. Butch, Kevin Kirshenbaum, Johnpierre Paglione, Richard L. Greene, Yong Liu, Liqin Yan, Yoon Seok Oh, Kee Hoon Kim, and Ichiro Takeuchi Department of Physics and CNAM, University of Maryland, College Park, Maryland 20742, USA Department of Physics and Astronomy, CSCMR & FPRD, Seoul National University, Seoul 151-747, Republic of Korea D...

Interpreting accruals as working capital investment, we hypothesize that firms rationally adjust their investment to respond to discount rate changes. Consistent with the optimal investment hypothesis, we document that (i) the predictive power of accruals for future stock returns increases with the covariations of accruals with past and current stock returns, and (ii) adding investmentbased fac...

Interpreting accruals as working capital investment, we hypothesize that firms optimally adjust their capital investment in response to discount rate changes. Consistent with the discount-rate hypothesis, we document that (i) the predictive power of accruals for future returns increases with the correlations of accruals with past and current stock returns; (ii) controlling for investment substa...

Interpreting accruals as working capital investment, we hypothesize based on q-theory that firms optimally adjust their accruals in response to discount rate changes. A higher discount rate means less profitable investments and lower accruals, and a lower discount rate means more profitable investments and higher accruals. Our evidence supports this optimal investment hypothesis: (1) adding an ...

PURPOSE To evaluate the antiangiogenic potential of topical ophthalmic formulations of the novel angiostatic steroids AL-3789 and AL-4940, using a rabbit model of corneal neovascularization. METHODS Neovascularization was induced in the rabbit cornea by surgical implantation of a standard ethylene vinyl acetate copolymer (Elvax-40) pellet containing 1 microg lipopolysaccharide. Coded formulat...

BACKGROUND AND AIMS In the last decade, genomic studies using DNA markers have strongly influenced the current phylogeny of angiosperms. Genome size and ploidy level have contributed to this discussion, being considered important characters in biosystematics, ecology and population biology. Despite the recent increase in studies related to genome size evolution and polyploidy incidence, only a ...

2112. 13. Lassen, M. R. (2000) The EPHESUS study: comparison of the first synthetic factor Xa inhibitor with low molecular weight heparin (LMWH). The prevention of venous thromboembolism (VTE) after elective hip replacement surgery. Blood 96(11), Abstract #2109. 14. Erickson, B. (2000) The PENTHIFRA study: comparison of the first synthetic Factor Xa inhibitor with low molecular weight heparin (...

Dr. Márlio Oliveira is a graduate student, Master of Science in Dentistry Program, Pontifical Catholic University of Minas Gerais, Belo Horizonte, Minas Gerais, Brazil, and in the private practice of orthodontics at Rua Mato Grosso, 450 Universal, Betim, Minas Gerais, Brazil; e-mail: marlio_ [email protected]. Dr. Pithon is a Professor of Orthodontics, Southwest Bahia State University, Jequié,...