Abstract How is a sovereign prerogative brought to market? We know much about how states shape markets and vice versa, but less the dynamics when not only set market rules, are also sole producer of good. This article takes up case citizenship by investment—“golden passport” programs that offer in recognition an investment country—to unpack challenges appear commodify prerogatives. In these cas...

In this paper, we investigate the buy and sell arrival process in a limit order book market. Using an intensity framework allows to estimate the simultaneous buy and sell intensity and to derive a continuous-time measure for the buy-sell pressure in the market. Based on limit order book data from the Australian Stock Exchange (ASX), we show that the buysell pressure is particularly influenced b...

We examine the selection and performance of stocks recommended by analysts at a large investment firm relative to those of sell-side analysts during the period mid-1997 and 2004. The buy-side firm’s analysts issued less optimistic recommendations for stocks with larger market capitalizations and lower return volatility than their sell-side peers, consistent with their facing fewer conflicts of ...

The introduction of innovative new devices and drugs has been a major influence in the dissemination of catheter-based coronary revascularization procedures into clinical practice. Systematic appraisals of effectiveness have typically come only after regulatory approval and widespread clinical acceptance. Consideration of the potential economic implications of these technologies, if performed a...

Have you ever found yourself busily attending to a patient’s acute problem when all of a sudden a nagging voice inside your head reminds you that you haven’t yet asked the patient about that needed flu shot, Pap smear, tetanus shot or other preventive service? Although health plans and government agencies are often quick to remind us of our preventive failures, many physicians shy away from pre...