A well-developed theoretical literature - dating back at least to Nordhaus (1969) - has analyzed optimal patent policy design. We re-present the core trade-off of the Nordhaus model and highlight an empirical question which emerges from the Nordhaus framework as a key input into optimal patent policy design: namely, what is the elasticity of R&D investment with respect to the patent term? We th...

To slow or not to slow’ (Nordhaus, 1991) was the first economic appraisal of greenhouse gas emissions abatement and founded a large literature on a topic of great, worldwide importance. In this paper we offer our assessment of the original article and trace its legacy, in particular Nordhaus’ later series of ‘DICE’ models. From this work many have drawn the conclusion that an efficient global e...

Economists have almost uniformly treated anthropogenic greenhouse gas emissions as a market failure, requiring government measures to counterbalance the negative externality. William Nordhaus, a pioneer and leader in the field, uses the latest calibration of his DICE model to determine the “optimal” time-indexed carbon tax, starting at $42 per ton (of carbon, not ton of CO2) in 2015 and rising ...

Given a graph G; let kGk denote the trace norm of its adjacency matrix, also known as the energy of G: The main result of this paper states that if G is a graph of order n; then kGk + G (n 1) 1 +n ; where G is the complement of G: Equality is possible if and only if G is a strongly regular graph with parameters (n; (n 1) =2; (n 5) =4; (n 1) =4) ; known also as a conference graph. In fact, the a...

Let G be a graph on n vertices and let G be its complement in K,,, the complete graph on n vertices . If f is a real valued function defined on graphs, what are the extreme values of f (G) +f (G) and f (G) f (G)? E. A. Nordhaus and J . W. Gaddum (see e .g . [5]) considered those questions when the function is the chromatic number . D . Taylor, R. D . Dutton and R. C. Brigham [5] studied the que...

Gaddum and Hameed (1) were first to suggest that 5-hydroxytryptamine (5-HT) produces some of its effects by acting on specific receptors. Gaddum and Picarelli (2) established that the guinea pig ileum contains two types of 5-HT receptors , each being blocked by a separate set of blocking agents. The "nervous receptors" (M-receptors) were blocked by morphine, atropine, cocaine and methadone; the...