In their article “An Arbitrage-Free Approach to Quasi-Option Value” [J. Environm. Econom. Management 35, 103-125, 1998], Coggins and Ramezani interpreted the concept of quasi-option value introduced by Arrow and Fisher [Quart. J. Econom. 88, 1974, 312-319] as being identical to Dixit and Pindyck’s real option value. This means their approach differs from the approach by Fisher and Hanemann [J. ...

The qtpaint package supports interactive graphics in R through low-level interaction with the Qt toolkit. It is meant for experienced R users, who are familiar with GUI and graphics programming. It is expected that a number of packages will wrap qtpaint to provide a more convenient and user-friendly interface for the most common tasks. The interface provided by qtpaint is intentionally barebone...

We develop a simple model of cartel behavior under conditions of Bertrand competition with differentiated products. This model is then used to analyse the effects of ”Leniency Policy” on the cartel. We find that in some market situations introducing Leniency Policy causes the cartel to cease to be viable and competition results. However, in other cases the policy only serves to raise cartel pri...

Mammalian genomes are scattered with thousands of copies of endogenous retroviruses (ERVs), mobile genetic elements that are relics of ancient retroviral infections. After inserting copies into the germ line of a host, most ERVs accumulate mutations that prevent the normal assembly of infectious viral particles, becoming trapped in host genomes and unable to leave to infect other cells. While m...

In this paper, an Adaptive Rival Penalized Competitive Learning and Combined Linear Prediction model is applied to the forecast of stock price and exchange rate. As shown by the experimental results, this approach not only is better than Elman Net and MA(q) models in the criterion of root mean square error, but also can bring in more returns in the trade between US dollar (USD) and German Deuts...