Motivated by the mean value property of harmonic functions, we introduce the local and global median value properties for continuous functions of two variables. We show that the Dirichlet problem associated with the local median value property is either easy or impossible to solve, and we prove that continuous functions with this property are 1-harmonic in the viscosity sense. We then close wit...

Regulation through `̀ code,’’ i.e. the hardware and software of communication technologies, is growing in importance. Policymakers are addressing societal concerns such as privacy, freedom of speech, and intellectual property protection with code-based solutions. While scholars have noted the role of code, there is little analysis of the various features or characteristics of code that have sign...

This study explores the interaction between innovations and financial markets using newly available data of China that present significant geographic variations in economic development. Empirical evidence suggests that provincial banking development encourages local innovations, and provincial intellectual property (IP) protection raises the market values of local firms. Firmlevel innovations l...

Rubinstein and Wolinsky (1990) show that a simple homogeneous market with exogenous matching has a continuum of (non-competitive) perfect equilibria; however, the unique Markov perfect equilibrium of this model is competitive. By contrast, in the more general case of heterogeneous markets, even the Markov property is not enough to guarantee the perfectly competitive outcome. We define a market ...

Notwithstanding its importance, property law has eluded both a consistent definition and a unified conceptual framework. Indeed, modern property scholarship has utterly splintered the field. On the one hand, instrumentalists view property as nothing more than default contract rules. On the other hand, conceptualists proclaim the primacy of in rem, rights and specially privileged rights such as ...

All nationwide return indices for direct owned property are based on valuations, which give a discussion of how well market value estimates reflect transaction prices and market movements. Two valuation experiments in relation to the Swedish Property Index give indications about the magnitude of the variation in estimated market values as well as variation in individual discounted cash flow par...

The article examines the theoretical issues of implementation life cycle innovation and practical methods for assessing loss value intellectual property in enterprises market. method cost approach is disclosed, which assumes accounting costs reproduction assessed current prices, minus depreciation, as most effective property. Also considered are rates depreciation fixed assets industrial facili...