Executive Summary This brief paper discusses the strengths of the patent system and its weaknesses in terms of creating incentives for innovation. It considers how Advanced Market Commitments (AMCs) may supplement the patent system, and introduces a Comprehensive Advance Market Commitment (CAMC) proposal. It shows how both AMCs and a CAMC could increase incentives for R&D into diseases of the p...

It is widely believed that the resilience of the stock market and its ability to accurately set prices are affected by credit conditions in the economy. A scarcity of deployable capital may cause market-makers to become financially constrained, leading to a breakdown in intermediation. This paper describes another channel by which the supply of available capital affects secondary market liquidi...

We show that the proportional response algorithm for computing an economic equilibrium in a Fisher market model can be interpreted as iteratively approximating the economy by one with Cobb-Douglas utilities, for which a closed-form equilibrium can be obtained. We also extend the method to allow elasticities of substitution at most one.

As a matter of course, power market uncertainties escalation is by product of power industry restructure on one hand and the unrivalled penetration of renewable energies on the other. Generally, the decision making process in such an uncertain environment faces with different risks. In addition, the performance of real power markets is very close to oligopoly markets, in which, some market play...

abstract producing of flowers and ornamental plants in iran has some challenges and failure in the market structure and marketing of these products. in this study, we evaluated the different marketing channels of flowers and ornamental plants in the existing market structure according to economic criteria and the characteristics of market structure. cut-rose and esfahan province were selected a...

â â â  â â â â â  the main purpose of present study is to analyze the relationship between stock and exchange markets in two asian countries, iran and south korea. a monthly time series of stock price and exchange rate are used over the period 2002: 05 - 2012: 03. the data is collected from the central bank of each country and wdi. the calculated stock return and real exchange rate change are u...

demand response (dr) has many beneficiaries in the electricity market. there are independent players who are interested in dr, which include: transmission system owners, distributors, retailers, and aggregators. in this paper dr is introduced as a tradable commodity that can be exchanged between dr buyers and sellers in a pool-based market which is called demand response exchange (drx). drx ope...