Are laws made by voters or industry? Here, we address this question in the context of copyright levies. Many Western countries allow private copying subject to a compulsory copyright levy. Applying political economy analysis, we show that (i) content producers always prefer a copyright levy to no levy; and (ii) if ethical costs are high, the median voter will prefer a copyright levy, while the ...

Author affiliations: Institut National de la Santé et de la Recherche Médicale, Paris, France (A. Birgy, P. Bidet, S. Bonacorsi); Université Paris Diderot, Paris (A. Birgy, P. Bidet, S. Bonacorsi); Hôpital Universitaire Robert-Debré, Paris (A. Birgy, P. Bidet, S. Bonacorsi); Association Clinique Thérapeutique Infantile du Val de Marne, Saint Maur des Fossés, France (C. Levy, E. Sobral, R. Cohen...

Data on single-nucleotide polymorphisms and large chromosomal rearrangements, coming from a long time evolution experiment with Escherichia Coli, are analyzed in order to argue that mutations along a cell lineage can be modeled as Levy flights in an abstract mutation space. These Levy flights have two components: random single-base substitutions and large DNA rearrangements. The data provide es...

Figure 1. Left: Gully system in the ADV, consisting of alcove, channel and fan; wind-blown snow has collected in topographic traps (alcove, channels); summer melting causes flow and erosion/deposition. Right: Gully system on Mars. Transient streams and gullies in the Antarctic Dry Valleys: Geological setting, processes and analogs to Mars J. W. Head, D. R. Marchant, J. Dickson, J. Levy, and G. ...

The availability of intraday stock/index return in the web facilitates the improvement of return volatility estimation over the traditional method that is based on inter-day return data. Truncated Levy process distribution is used to extract the intraday return distribution parameters. The calibration to the volatility for Black-Scholes option pricing is studied using the data from Levy-Gaussia...

Abstract. We present a method to apply the Malliavin calculus to calculate sensitivities for exponential Levy models built from the Variance Gamma and Normal Inverse Gaussian processes. We also present new sensitivities for these processes. The calculation of the sensitivities is based on a finite dimensional Malliavin calculus and we compare the results with finite difference calculations. Thi...