We hypothesize that owing to limited investor attention and skepticism of complexity, innovative diversity (ID) of a firm's patent portfolio will be undervalued. ID strongly predicts stock returns after controlling for firm characteristics and risk. High ID portfolios provide Carhart alphas of 56-81 basis points per month and stronger and less volatile operating performance. The Diversified Min...

and Applied Analysis 3 Next we present auxiliary statements which play important roles in proving the main results. Define F : 0,∞ → R by F x Φ x/q−1/q −Φ 1−1/x and h : Φ −∞ q ,∞ → R by h x x 1 − q1−α [ 1 − ( 1 ( q − 1 ) Φ−1 x )1−α] . 2.1 For y : q0 → R \ {0} define the operator L by L [ y ] t Φ ( y ( q2t ) qy ( qt ) − 1 q ) −Φ ( 1 − y t

We prove that a GF(q)-linear Rédei blocking set of size qt + qt−1 + · · · + q + 1 of PG(2, qt ) defines a derivable partial spread of PG(2t − 1, q). Using such a relationship, we are able to prove that there are at least two inequivalent Rédei minimal blocking sets of size qt + qt−1 + · · · + q + 1 in PG(2, qt ), if t ≥ 4.

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Most of us take it for granted that we ought to be rational—to have the bundle of dispositions and abilities that constitute the faculty of rationality. Most of us also take it for granted that we ought to satisfy various individual requirements of rationality: we ought not to believe it is Monday and also believe it is not Monday; we ought to intend to catch the 12.50, if we intend to get to a...

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Capital Deepening and Wage Differentials: Germany vs. US Capital deepening may affect the evolution of the wage differential between skilled and unskilled workers differently in countries with different labor market institutions. If labor market institutions raise the relative wage of unskilled workers in Germany, firms have incentives to invest relatively more into capital equipment complement...