A Microeconomic Approach to Diffusion Models For Stock Prices

This paper studies a class of diffusion models for stock prices derived by a microeconomic approach. We consider discrete-time processes resulting from a market equilibrium and then apply an invariance principle to obtain a continuous-time model. the resulting process is an Ornstein-Uhlenbeck process in a random environment, and we analyze its qualitative behavior. In particular, we provide simple criteria for the stability or instability of the corresponding stock price model, and we give explicit formulae for the invariant distributions in the recurrent case.     

Segmenting a market in the making: Industrial market segmentation as construction

This paper takes an empirical starting point in a claim that Biacore, a pioneering Swedish producer of affinity biosensors, was “in the enviable position of creating its own market” (Abelin, 1997). An in-depth case study traces how Biacore undertook segmentation activities while shaping the market for its new product technology, affinity biosensors. This involved stabilising the modes of exchange with customers, the product and the identity of the company. The efforts of Biacore highlight a constructive dimension of market segmentation that hitherto has received little attention. Rather than a process of describing, deciding and taking action, Biacore engaged in the gradual construction of market segments through an interactive and iterative process involving close collaboration with early users. Simultaneously, the market for the new technology gained shaped. Thus, the paper reports a ‘markets from networks’ story illustrating how the practice of segmenting a market may have consequences for that market.     

卫生技术评估：德国视角

自20世纪90年代末以来,卫生技术评估（Health Technology Assessment,HTA）在德国引起了广泛讨论,这与循证医学的产生是密切相关的。在德国进行技术评估的论点首先由“国会技术评估办公室”提出。随后Hanover医学院进行的一个科学项目进一步支持了需要进行技术评估的论点,该项目旨在评估在德国卫生保健系统中HTA评估的应用与收益。1997年,德国成立了卫生保健技术评估科学工作组,     

Endogenous Growth and Trade Liberalization Between Small and Large Countries

The paper combines insight from new trade theory and R&D-based endogenous growth models to argue that there are ambiguous growth effects of trade liberalization between countries that differ in terms of the size of their home markets. In particular, trade liberalization may reduce R&D incentives in countries with low purchasing power without invoking parallel increases in countries with high purchasing power. The paper also considers the case of imperfect international knowledge spillovers, and demonstrates that complete trade liberalization may affect the growth rate negatively.     

Changes in environmental awareness: A comparative study of the FRG,England and the USA

This paper describes the methods and conclusions of a major study of environmental awareness in three countries — the USA, England and the FRG. The work was initiated by the observation that environmental protection has been brought to the fore of political debate over the last decade. It was felt that the growing political dimension to environmental awareness warranted a systematic analysis of ecological values in the context of general sociopolitical views. With the help of questionnaires, the researchers attempted to achieve three objectives: to draw an international comparison of ecological values; to investigate the environmental values held by various social macrogroups; to conduct a longitudinal analysis of changes in ecological values; and to assess desired strategies of action.