This paper analyses the behaviour of pharmaceutical companies that face the threat of having their drugs excluded from reimbursement and the markets characterised also by price caps. We conclude that price elasticity of demand and cost differentials cause the price discounts which drug firms...

This paper analyses the impact of patents on the dynamics of new drug introduction into different national markets. By studying a set of markets for HIV/AIDS drugs in a sample of developing countries, we find that patents only make the introduction of new drugs significantly quicker in the case...

In the context of a compound Poisson risk model, we define a threshold proportional reinsurance strategy: A retention level k1 is applied whenever the reserves are less than a determinate threshold b, and a retention level k2 is applied in the other case. We obtain the integro-differential...

In terms of global warming, early peak forecasts in oil and natural gas seem reasonably good news because most emissions arise from fossil fuel burning. However, this can be misleading if coal resources are as enormous as some estimations report because a switch between low carbon content fossil...

We provide explicit formulas for the nucleolus of an arbitrary assignment game with two buyers and two sellers. Five different cases are analyzed depending on the entries of the assignment matrix. We extend the results to the case of 2 m or m 2 assignment games.

A multi-sided Bohm-Bawerk assignment game (Tejada, to appear) is a model for a multilateral market with a finite number of perfectly complementary indivisible com- modities owned by different sellers, and inflexible demand and support functions. We show that for each such market game there is a...

In this paper we analyze the aggregate volatility of a stylized economy where agents are networked. If strategic relations connect agents,actions, idiosyncratic shocks can generate nontrivial aggregate fluctuations. We show that the aggregate volatility depends on the network structure of the...

This methodological study provides estimates of Portuguese regional GDP per capita between 1890 and 1980. These estimates were obtained either by following the Geary and Stark (2002) method for industry or directly from regional production data or proxies thereof where available.

An assignment game is defined by a matrix A, where each row represents a buyer and each column a seller. If buyer i is matched with seller j, the market produces aij units of utility. We study Monge assignment games, that is bilateral cooperative assignment games where the assignment matrix...

There is a vast literature on intergenerational mobility in sociology and economics. Similar interest has emerged for the phenomenon of over-education in both disciplines. There are no studies, however, linking these two research lines. We study the relationship between social mobility and...