Technological Innovation, Financial Fragility and Complex Dynamics In this paper we suggest a scaling approach to business cycles. We develop a heterogeneous interacting agents (HIAs) model that replicates well known industrial dynamics stylized facts, as the power law distribution of firms’ size and the Laplace distribution of firms’ growth rates. In particular, the power law is a persistent b...

T salesman problems with profits (TSPs with profits) are a generalization of the traveling salesman problem (TSP), where it is not necessary to visit all vertices. A profit is associated with each vertex. The overall goal is the simultaneous optimization of the collected profit and the travel costs. These two optimization criteria appear either in the objective function or as a constraint. In t...

To evaluate the concentrations of serum lipids and lipoproteins and their correlations together and withthyroid hormones in gray necked ostrich (Struthio camelus), the serum levels of cholesterol, triglyceride,total lipids, very low density lipoproteins (VLDL-cholesterol), low density lipoproteins (LDL-cholesterol)and high density lipoproteins (HDL-cholesterol) and their correlations with tri-i...

Several distinctive, and initially puzzling features of Nikophon's law on silver coinage (Rhodes/Osborne 25) become clear in light of the Athenian state's attempt to drive down transaction costs in order to maintain Athenian public revenues and private profits in the post-imperial era. I suggest that the law was explicitly intended to even the playing field of trade by ensuring non-citizens acc...

The theory of cost shifting posits that nonprofit firms “share the pain” of negative financial shocks with their stakeholders, for example, by raising prices. We examine how nonprofit hospitals responded to the sharp reductions in their assets caused by the 2008 stock market collapse. The average hospital did not raise prices, but hospitals with substantial market power did cost shift in this w...

A shortage of new blockbuster drugs and the expiration of patents on older drugs together leave pharmaceuticals companies struggling to maintain sales and profits. Meanwhile, regulatory agencies, particularly in the U.S. and Europe, are increasingly relying on new analytic and information tools to meet pressure to approve breakthrough drugs more quickly. The more quickly and efficiently pharmac...