Cerivastatin was recently withdrawn from the market because of 52 deaths attributed to drug-related rhabdomyolysis that lead to kidney failure. The risk was found to be higher among patients who received the full dose (0.8 mg/day) and those who received gemfibrozil concomitantly. Rhabdomyolysis was 10 times more common with cerivastatin than the other five approved statins. We address three imp...

Economic growth has not led to a decline in religion despite past predictions that it would. Using a formal model of religious competition, I show how economic growth produces counteracting effects on religious activity in an open religious market, and that it has little effect in a religious market that is already secularized due to regulations that prohibit religious competition or in a highl...

Market Design is an emerging field that seeks to provide a practical solution for various resource allocation problems. The current article discusses several issues arising in real-world market design, innovative ideas proposed to overcome those issues, and their applications in areas such as spectrum licenses allocation, Internet sponsored-search advertising, housing allocation, public school ...

This paper uses the development of multi-agent market models to present a unified approach to the joint questions of how financial market movements may be simulated, predicted, and hedged against. We first present the results of agent-based market simulations in which traders equipped with simple buy/sell strategies and limited information compete in speculatory trading. We examine the effect o...

Objective Art business takes place in an institutional context and is highly reliant on the cultural, political, and social content of a society. Because of a variety of reasons such as the profitability of art industry in foreign market, low academic marketing knowledge, the opposing ideas to art economy according to its players, the high rate of graduate students in art disciplines and the n...

A computational market is any collection of software agents interacting through a price system. Markets can provide eeective allocation of resources for a variety of distributed environments, and economic analysis a powerful design tool for interaction mechanisms. The spread of computational markets puts a premium on market-aware agents, and presents a case for market awareness on the part of a...

We study the gross domestic product (GDP) per capita together with the market capitalization (MCAP) per capita as two indicators of the effect of globalization. We find that g, the GDP per capita, as a function of m, the MCAP per capita, follows a power law with average exponent close to 1/3. In addition, the Zipf ranking approach confirms that the m for countries with initially lower values of...

The virtual economy operates like the one in the physical world, which is realized by players with two functions–demand and supply, only using the form as avatars. Only that in virtual worlds, the prices of virtual items is decided by the players instead of by its quality or scarcity, so the player behavior analyses became an important tool to monitor the persistent virtual worlds. In order to ...

We propose a conditional measure of capital market integration that allows us to characterize both the cross-section and time-series ofexpected returns in developed and emerging markets. Our measure, which arises from a conditional regime-switching model, allows us to describe expected returns in countries that are segmented from world capital markets in one part of the sample and become integr...