Research joint ventures and optimal R&D policy with asymmetric information

When to allow Research Joint Ventures (RJVs) or not is an importantinstrument in the development of an optimal R&D policy. Theregulator, however, is unlikely to know all the relevant informationto regulate R&D optimally. The extent to which there existappropriability problems between the firms is one such variable thatis private information to the firms in the industry. In a duopolysetting we analyze the characteristics of a second-best R&D policywhere the government can either allow RJVs or not and give lump-sumsubsidies to the parties involved. The second-best R&D policy withoutsubsidies will either block some welfare improving RJVs or allow somewelfare reducing ones. With lump-sum subsidies, the second-best policytrades off the expected subsidy cost with allowing welfare decreasingRJVs or blocking welfare increasing ones.

Effects of prolonged administration of the angiotensin converting enzyme inhibitor CGS 16617 in normotensive volunteers.

A new, orally active angiotensin converting enzyme (ACE) inhibitor, CGS 16617, has been evaluated in normotensive subjects during acute and prolonged administration. Single ascending doses of CGS 16617 20 to 100 mg were given to 9 normotensive volunteers at one week intervals and the changes in blood pressure, plasma ACE and renin activity were examined up to 72 h after drug intake. Also, CGS 16617 50 mg/day or placebo were given for 30 days to 8 and 6 normotensive subjects, respectively, maintained on an unrestricted salt diet. Blood pressure was measured daily in the office and ambulatory blood pressure profiles were also obtained before, during and after therapy, using the Remler M 2000 blood pressure recording system. CGS 16617 was an effective and long lasting ACE inhibitor. It did not induce a consistent change in blood pressure, but, the individual responses were very variable and several subjects experienced a clear decrease in the average of the blood pressures recorded during the daytime.

Pääministeri R. v. Fieandt 15/3 1958

Kirje

Estudio de otolitos de Odonthestes regia r., Pejerrey: determinación de edad

El estudio de los incrementos marginales de crecimiento mensual de otolitos de pejerrey , sugiere: Un inicio de formación de anillo para el mes de julio y otra formación para enero; ambos se encuentran relacionados al ápice y secundario del desove. La regresión que relaciona la longitud del pez (cm) con la longitud del otolito (mm) corresponde a: Y=2 .302 + 7.72163 X, R=0. 99, N=427 especímenes . La distribución mensual de longitudes del total de pe­ces N=798, sugiere que hay una reducción del tamaño modal después de abril con una alta proporción de peces menores de 15 cm y ésto alcanza su máximo más o menos entre julio y setiembre. Este cambio puede significar que el reclutamiento tomaría lugar entre mayo y octubre con el ápice en agosto. La madurez sexual , estudio de la distribución porcentual por estadios a lo largo de todos los meses del año 1975, Sugiere: considerando los estadíos V, VI, VII juntos y el VI separadamente, que el ápice del desove es en julio con un rango entre mayo y octubre y con un ápice secundario en enero. El contaje de anillos anuales en la estructura de los otolitos nos dice que esta especie es de vida corta no más de tres años. La ecuación de crecimiento de von Bertalanf fy corresponde)

Renal hemodynamic and natriuretic effects of concomitant Angiotensin-converting enzyme and neutral endopeptidase inhibition in men.

This double-blind placebo-controlled study was designed to investigate the acute and sustained hormonal, renal hemodynamic, and tubular effects of concomitant ACE and neutral endopeptidase (NEP) inhibition by omapatrilat, a vasopeptidase inhibitor, in men. Thirty-two normotensive subjects were randomized to receive a placebo, omapatrilat (40 or 80 mg), or the fosinopril/hydrochlorothiazide (FOS/HCTZ; 20 and 12.5 mg, respectively) fixed combination for 1 week. Blood pressure, renal hemodynamics, urinary electrolytes and atrial natriuretic peptide excretion, and several components of the renin-angiotensin system were measured for 6 hours on days 1 and 7 of drug administration. When compared with the placebo and the FOS/HCTZ combination, omapatrilat induced a significant decrease in plasma angiotensin II levels (P<0.001 versus placebo; P<0.05 versus FOS/HCTZ) and an increase in urinary atrial natriuretic peptide excretion (P<0.01). These hormonal effects were associated with a significant fall in blood pressure (P<0.01) and a marked renal vasodilatation, but with no significant changes in glomerular filtration rate. The FOS/HCTZ markedly increased urinary sodium excretion (P<0.001). The acute natriuretic response to FOS/HCTZ was significantly greater than that observed with omapatrilat (P<0.01). Over 1 week, however, the cumulative sodium excretion induced by both doses of omapatrilat (P<0.01 versus placebo) was at least as great as that induced by the dose of FOS/HCTZ (P=NS versus FOS/HCTZ). In conclusion, the results of the present study in normal subjects demonstrate that omapatrilat has favorable renal hemodynamic effects. Omapatrilat combines potent ACE inhibition with a sustained natriuresis, which explains its well-documented potent antihypertensive efficacy.

Endogeneizing know-how flows through the nature of R&D investments

In this paper we carefully link knowledge flows to and from a firm s innovation process with this firm s investment decisions. Three types of investments are considered: investments in applied research, investments in basic research, and investments in intellectual property protection. Only when basic research is performed, can the firm effectively access incoming knowledge flows and these incoming spillovers serve to increase the efficiency of own applied research. The firm can at the same time influence outgoing knowledge flows, improving appropriability of its innovations, by investing in protection. Our results indicate that firms with small budgets for innovation will not invest in basic research. This occurs in the short run, when the budget for know-how creation is restricted, or in the long-run, when market opportunities are low, when legal protection is not very important, or, when the pool of accessible and relevant external know-how is limited. The ratio of basic to applied research is non-decreasing in the size of the pool of accessible external know-how, the size and opportunity of the market, and, the effectiveness of intellectual property rights protection. This indicates the existence of economies of scale in basic research due to external market related factors. Empirical evidence from a sample of innovative manufacturing firms in Belgium confirms the economies of scale in basic research as a consequence of the firm s capacity to access external knowledge flows and to protectintellectual property, as well as the complementarity between legal and strategic investments.

Catalogue des dessins anciens du Moyen-Age et de la Renaissance (XVe et XVIe siècles), Oeuvres de J. Amman, B. Beham, P. Brueghel, H. Burgkmair, L. Cambiaso, J. Cousin, A. Durer, H. Goltzius, U. Graf, Lagneau, E. de Laune, F. Mazzuola, M. Ostendrofer, J. Palma, Le Primatice, B. Ramenghi, D. Robusti, J. Romain, T. Stimmer, P. Vénronèse, L. de Vinci, etc., etc. ; Dessins, pastels, aquarelles des XVIIe et XVIIIe siècle par N. Berchem, Brauwer, A. Guyp, Dumonstier, C. Dusart, A. Van Dyck, J.-H. Fragonard, Cl. Gellée, Van Goyen, J. Jordaens, J. Lievens, G. Metzu, I. Moucheron, R. Nanteuil, A. Van Ostade, A. Pajou, J.-B. Perronneau, P. Potter, N. Poussin, Rembrandt, P.-P. Rubens, J. Ruysdael, G.-B. Tiepolo, A. et W. Van de Velde, C. Visscher, A. Watteau, etc., etc., composant la collection de M. A. Beurdeley et dont la vente [6e vente] aux enchères publiques, après décès, aura lieu Galerie Georges Petit, 8, rue de Sèze, les mardi 8, mercredi 9 et jeudi 10 juin 1920 / Commissaires-priseurs, Me F. Lair-Dubreuil, Me Henri Baudoin ; experts M. Jules Féral, M. Marius Paulme ; [préface de Marcel Nicolle]

[Vente (Art). 1920-06-08 - 1920-06-10. Paris]

"Marxisme et philosophie du langage" (1929) de V. Volochinov et sa réception chez R. Chor : deux voies du développement de la science du langage «marxiste» dans les années 1920 en Russie

Malgré le succès de  « Marxisme et philosophie du langage » (par la suite MPL) de V. Volochinov, ce texte n'a suscité que trois comptes rendus. Le quatrième est ébauché par A. Romm. Resté à l'état de notes, ce compte rendu est bien étudié par les chercheurs contemporains. En revanche, le compte rendu écrit par R. Chor n'a jamais été analysé de façon détaillée. Notre article a pour but de combler cette lacune et porte sur le contenu de l'analyse critique de MPL faite par Chor. Son examen révèle que le compte rendu écrit par cette dernière et MPL de Volochinov représentent la formulation de principes de base diamétralement opposés de la science du langage «marxiste». Cela se manifeste dans la réception des idées de F. de Saussure. Si Chor considère la conception de ce dernier comme fondement de la linguistique «théorique» portant sur la langue en tant que système de signes (ou de «signifiances» dans les termes de Chor), Volochinov rejette la théorie de Saussure. Il la considère comme «abstraite», d'où le nom «objectivisme abstrait» qu'il donne au saussurisme. En élaborant la philosophie du langage «marxiste», il s'appuie sur la néo-philologie idéaliste (les idées de Vossler et de son Ecole) définie dans MPL comme «subjectivisme individualiste». Volochinov propose d'étudier la «langue» comme fait réel, accessible à l'observation immédiate et non pas comme objet d'étude «théorique». Ce fait constitue une cible de la critique adressée par Chor à Volochinov

Suurlähettiläs R.R. Seppälä 20/1 1962

Kirje

R&D in the pharmaceutical industry: A world of small innovations

It is commonly argued that in recent years pharmaceutical companies have directed theirR&D towards small improvements of existing compounds instead of more risky drastic innovations. In this paper we show that the proliferation of these small innovations is likely to be linked to the lack of market sensitivity of a part of the demand to changes in prices. Compared to their social contribution, small innovations are relatively more profitable than large ones because they are targeted to the smaller but more inelastic part of the demand. We also study the effect of regulatory instruments such as price ceilings, copayments and reference prices and extend the analysis to competition in research.