Suppose we are given a set of prices of European call options over a finite range of strike prices and exercise times, written on a financial asset with deterministic dividends which is traded in a frictionless market with no interest rate volatility. We ask: when is there an arbitrage opportunity? We give conditions for the prices to be consistent with an arbitragefree model (in which case the...

BACKGROUND Policymakers and researchers frequently compare the prices of medicines between countries. Such comparisons often serve as barometers of how pricing and reimbursement policies are performing. The aim of this study was to examine methodological challenges to comparing generic drug prices. METHODS We calculated all commonly used price indices based on 2013 IMS Health data on sales of...

In his inaugural presidential address to the Population Association of America in 1978, Richard Easterlin challenged the orthodox neoclassical economic model of fertility originally suggested by Becker and subsequently elaborated by Becker and Lewis. While maintaining an economic approach to fertility, Easterlin's model was based upon the notion of material aspirations which changed systematic...

Energy poverty can be understood as the inability of a household to secure a socially and materially necessitated level of energy services in the home. While the condition is widespread across Europe, its spatial and social distribution is highly uneven. In this paper, the existence of a geographical energy poverty divide in the European Union (EU) provides a starting point for conceptualizing ...

It is a pleasure to be invited to discuss this rich paper by Jeffrey Frankel and Andrew Rose. After the events of the past few years, with a range of commodity prices exhibiting great volatility, it is not hard to motivate Frankel and Rose’s choice of topic, seen from either a longor medium-term perspective. The authors use annual data, mainly in a panel context, to examine the relationship bet...

Objective. Compare glaucoma medication costs between the United States (USA) and Canada. Methods. We modelled glaucoma brand name and generic medication annual costs in the USA and Canada based on October 2013 Costco prices and previously reported bottle overfill rates, drops per mL, and wastage adjustment. We also calculated real wholesale price changes from 2006 to 2013 based on the Average W...

We present a framework for automatically enhancing videos of a static scene using a few photographs of the same scene. For example, our system can transfer photographic qualities such as high resolution, high dynamic range and better lighting from the photographs to the video. Additionally, the user can quickly modify the video by editing only a few still images of the scene. Finally, our syste...