We study investment cycles and information flows in a model of social learning in which investment returns fluctuate according to a Markov process. In our Waiting Game, agents observe the investment history and a private signal correlated with the current period’s investment return. Agents then decide whether to invest in round 1 or to delay their decision to round 2 of the current period. Casc...

The fact that derivative securities are equivalent to specific dynamic trading strategies in complete markets suggests the possibility of constructing buy-and-hold portfolios of options that mimic certain dynamic investment policies, e.g. asset-allocation rules. We explore this possibility by solving the following problem: given an optimal dynamic investment policy, find a set of options at the...

Does Forced Solidarity Hamper Investment in Small and Micro Enterprises? Sharing is a norm in many societies. We present a theoretical model on the trade-off between sharing and investment which we test on data from tailors in Burkina Faso. The empirical results support the idea that there are two behavioural patterns: entrepreneurs following an ‘insurance regime’ comply with sharing norms, are...

BACKGROUND Efforts at physician-payment reform in the United States have focused largely on the relative incomes of primary care physicians and specialists, who more often have procedure-based practices. Comparisons of the incomes of physicians and other professional groups have received less attention. METHODS We used standard financial techniques to determine the return on educational inves...

Test-driven development is one of the central techniques of Extreme Programming. However, the impact of test-driven development on the business value of a project has not been studied so far. We present an economic model for the return on investment when using test-driven development instead of the conventional development process. Two factors contribute to the return on investment of test-driv...

Measuring the Return On Investment (ROI) in training and development has consistently earned a place among the critical issues in the Human Resources Development (HRD) field. The topic appears routinely on conference agendas and at professional meetings. Journals and newsletters regularly embrace the concept with increasing print space. At least a dozen books provide significant coverage of the...

oday’s challenging economic environment leaves little room for businesses in any industry to expend resources that promise little or no return. The health care industry, and Catholic health care in particular, share this challenge. In the midst of these pressures, something appears to be happening within the Catholic health care community, something that speaks to the unique understanding we br...

orphan drugs present unique risks — the potential return on investment is inherently constrained by small patient populations and attendant reimbursement challenges. recognizing these challenges, some countries have passed laws designed to make the economic model associated with developing treatments for orphan diseases more attractive. the most meaningful incentive provided by the various orph...

Therefore, choosing to spend money on DM is truly an investment that is hypothesized to lead to a return at a later time. DM programs are designed to encourage prevention and regular monitoring of patients with chronic disease—which, in turn, is thought to improve health and consequently lower health care resource use. If the fees that states must pay to develop a DM program, or to hire a vendo...