This paper examines the effects of capital gains taxation on firms’ investment and financing decisions. We develop a real options model in which the timing of investment, the decision to default, and the firm’s capital structure are endogenously and jointl ...
This thesis consists of three chapters. The first chapter endogenizes technological change by introducing a stylized innovation process driven by a R&D–dependent Poisson process in a Cox, Ingersoll and Ross (1985) production economy. The model reproduces s ...
Time series modeling and analysis is central to most financial and econometric data modeling. With increased globalization in trade, commerce and finance, national variables like gross domestic productivity (GDP) and unemployment rate, market variables lik ...
Because they provide exclusive property rights, patents are generally considered to be an effective way to promote intellectual discovery. Here, we propose a different compensation scheme, in which everyone holds shares in the components of potential disco ...
American Association for the Advancement of Science2009
Wireless community networks that operate in the unlicensed spectrum have emerged as a low-cost alternative for providing high-speed wireless data services. By using WiFi access points that are provided and managed by community members, wireless community n ...
Let G be a graph with n vertices and ea parts per thousand yen4n edges, drawn in the plane in such a way that if two or more edges (arcs) share an interior point p, then they properly cross one another at p. It is shown that the number of crossing points, ...