The Lax-Hopf formula simplifies the value function of an intertemporal optimization (infinite dimensional) problem associated with a convex transaction-cost function which depends only on the transactions (velocities) of a commodity evolution: it states that the value function is equal to the...

Despite more than half a century of research on forecasting stock market returns, most predictive models perform quite poorly when they are put to the test of actually predicting equity returns. In fact, many authors, including Bossaerts and Hillion (1999), Brennan and Xia (2005), and Welch and...

Drawing on the case of Dharmapuri District, South India, the article aims to investigate the potential and the constraints by which agricultural biotechnologies can be employed to serve the purpose of agricultural and rural development. The analysis follows two main routes: on one side it...