Spectrum of Functions for the Dunkl Transform on R^d

Mathematics Subject Classification: 42B10

On the approximation by convolution operators in homogeneous Banach spaces on R^d

AMS Subject Classification 2010: 41A25, 41A35, 41A40, 41A63, 41A65, 42A38, 42A85, 42B10, 42B20

The Economics of Subsidies for R&D: The Intrinsic Difficulty of Determining Optimum Subsidies and Implications for Reform of EU State Aid Rules on R&D. Bruges European Economic Research (BEER) Papers 26/February 2013

The European Commission is reforming state aid rules. An important element of the reform is to prevent the granting of excessive subsidies. This paper shows that the determination of the optimum subsidy for research is difficult. What appears to be the socially optimum level of research effort depends on the benchmark of comparison and whether this benchmark is the situation before subsidies or the situation after subsidies. In the presence of asymmetric information, policy makers should induce firms to reveal their true costs and should grant subsidies to the relatively more efficient firms by allocating subsidies not on a first-come-first- serve basis but through a competitive process. However, competitive selection of subsidy recipients is not a panacea as it may not be possible to be effectively used in all cases and for all research programmes. This is because in principle public subsidies should support those programmes with the largest value for society, rather than with the lowest costs. Although this paper focuses on R&D, its findings are relevant to any subsidy whose aim is to remedy market failure caused by positive externalities.

Mean-Periodic Functions Associated with the Jacobi-Dunkl Operator on R

2000 Mathematics Subject Classification: 34K99, 44A15, 44A35, 42A75, 42A63

Estimating the impact of R&D on productivity using the BERD-ARD data

The UK has a relatively low ratio of business R&D to GDP (the BERD ratio) compared to other leading economies. There has also been a small decline in UK’s BERD ratio in the 1990s, whereas other leading economies have experienced small rises. The relatively low BERD ratio cannot be explained solely by sectoral or industry-level differences between the UK and other countries. There is, therefore, considerable interest in understanding the firm-level determinants of investment in R&D. This report was commissioned by the DTI to analyse the link between R&D and productivity for a sample of firms derived from merging the ONS’s Business Research and Development Database (BERD) and the Annual Respondents Database (ARD). The analysis estimates the private rates of returns to R&D, and not the social rates of return, since it is the private returns that should drive firms’ decisions. A key objective of this research is to analyse the productivity of R&D in small and medium sized enterprises (SME). The analysis is intended to allow comparisons to the results in Rogers (2005), which uses publicly available data on R&D in medium to large UK firms in the 1990s.

Herz-Type Hardy Spaces for the Dunkl Operator on the Real Line

2000 Mathematics Subject Classification: Primary 46F12, Secondary 44A15, 44A35

Essays on Financial Constraints, R&D Investments, and Competition

This dissertation consists of two chapters of theoretical studies that investigate the effect of financial constraints and market competition on research and development (R&D) investments. In the first chapter, I explore the impact of financial constraints on two different types of R&D investments. In the second chapter, I examine the impact of market competition on the relationship between financial constraints and R&D investments. In the first chapter, I develop a dynamic monopoly model to study a firm’s R&D strategy. Contrary to intuition, I show that a financially constrained firm may invest more aggressively in R&D projects than an unconstrained firm. Financial constraints introduce a risk that a firm may run out of money before its project bears fruit, which leads to involuntary termination on an otherwise positive-NPV project. For a company that relies on cash flow from assets in place to keep its R&D project alive, early success can be relatively important. I find that when the discovery process can be expedited by heavier investment (“accelerable” projects), a financially constrained company may find it optimal to “over”-invest in order to raise the probability of project survival. The over-investment will not happen if the project is only “scalable” (investment scales up payoffs). The model generates several testable implications regarding over-investment and project values. In the second chapter, I study the effects of competition on R&D investments in a duopoly framework. Using a homogeneous duopoly model where two unconstrained firms compete head to head in an R&D race, I find that competition has no effect on R&D investment if the project is not accelerable, and the competing firms are not constrained. In a heterogeneous duopoly model where a financially constrained firm competes against an unconstrained firm, I discover interesting strategic interactions that lead to preemption by the constrained firm in equilibrium. The unconstrained competitor responds to its constrained rival’s investment in an inverted-U shape fashion. When the constrained competitor has high cash flow risk, it accelerates the innovation in equilibrium, while the unconstrained firm invests less aggressively and waits for its rival to quit the race due to shortage of funds.

A regional construction R&D evaluation system for China

Expenditure on R&D in the China construction industry has been relatively low in comparison with many developed countries for a number of years – a situation considered to be a major barrier to the industry’s competitiveness in general and unsatisfactory industry development of the 31 regions involved. A major problem with this is the lack of a sufficiently sophisticated method of objectively evaluating R&D activity in what are quite complex circumstances considering the size and regional differences that exist in this part of the world. A regional construction R&D evaluation system (RCRES) is presented aimed at rectifying the situation. This is based on 12 indicators drawn from the Chinese Government’s R&D Inventory of Resources in consultation with a small group of experts in the field, and further factor analysed into three groups. From this, the required evaluation is obtained by a simple formula. Examination of the results provides a ranking list of the R&D performance of each of the 31 regions, indicating a general disproportion between coastal and inland regions and highlighting regions receiving special emphasis or currently lacking in development. The understanding on this is vital for the future of China’s construction industry.

Leveraging R&D investment for the Australian built environment

This paper discusses a current research project building new understandings and knowledge relevant to R&D funding strategies in Australia. Building on a retrospective analysis of R&D trends and industry outcomes, an industry roadmap will be developed to inform R&D policies more attuned to future industry needs to improve research investment effectiveness. The project will also include analysis of research team formation and management (involving end users from public and private sectors together with research and knowledge institutions), and dissemination of outcomes and uptake in the Australian building and construction industry. The project will build on previous research extending open innovation system theory and network analysis and procurement, focused on R&D. Through the application of dynamic capabilities and strategic foresighting theory, an industry roadmap for future research investment will be developed, providing a stronger foundation for more targeted policy recommendations. This research will contribute to more effective construction processes in the future through more targeted research funding and more effective research partnerships between industry and researchers.

Revisiting the Fourier transform on the Heisenberg group

A recent theorem of S. Alesker, S. Artstein-Avidan and V. Milman characterises the Fourier transform on R-n as essentially the only transform on the space of tempered distributions which interchanges convolutions and pointwise products. In this note we study the image of the Schwartz space on the Heisenberg group under the Fourier transform and obtain a similar characterisation for the Fourier transform on the Heisenberg group.

Cooperative R&D with endogenous technology differentiation

We study a nontournament R&D duopoly. Before the standard R&D investment and quantity-setting stages, we consider a stage in which firms choose their R&D technologies. Spillovers negatively depend on R&D technology differentiation. We show that, in equilibrium, firms will choose identical or very similar R&D processes. Such equilibria may entail less differentiation than would be dictated by social welfare maximization.

How remote are R&D labs? Distance factors and international innovative activities

This paper shows that value creation by multinational enterprises (MNEs) is the result of activities where geographic distance effects can be overcome. We submit that geographic distance has a relatively low impact on international research and development (R&D) investments, owing to the spiky nature of innovation, and to the unique ability of MNEs to absorb and transfer knowledge on a global scale. On the one hand, MNEs need to set up their labs as close as possible to specialized technology clusters where valuable knowledge is concentrated, largely regardless of distance from their home base. On the other, MNEs have historically developed technical and organizational competencies that enable them to transfer knowledge within their internal networks and across technology clusters at relatively low cost. Using data on R&D and manufacturing investments of 6320 firms in 59 countries, we find that geographic distance has a lower negative impact on the probability of setting up R&D than manufacturing plants. Furthermore, once measures of institutional proximity are accounted for, MNEs are equally likely to set up R&D labs in nearby or in more remote locations. This result is driven by MNEs based in Triad countries, whereas for non-Triad MNEs the effect of geographic distance on cross-border R&D is negative and significant.

R. D. Laingin antipsykiatrinen kritiikki teoksessa Divided Self

Analysoin tutkimuksessani radikaalin antipsykiatrian hulluuskäsityksiä ja psykiatrian kritiikkiä osana 1960-luvun vastakulttuuria ja kulttuurista murrosta. Alkuperäislähteeni on R. D. Laingin Divided Self: An Existential Study in Sanity and Madness (1960), jossa Laing käsitteli ajatuksiaan skitsofreenikoiden kokemusmaailmasta ja psykiatrisen katseen kohdentumisesta ymmärtämiseen ja empatiaan potilassuhteessa. Hän lähestyi aihettaan eksistentialistis-fenomenologisesta näkökulmasta ja sai leiman hulluuden romantisoijana ehdottaessaan myöhemmin 1960-luvulla, että kaikki psykoottiset matkat saattoivat johtaa yksilön ”uudelleensyntymään”. 1960-luvulla erityisesti psykiatreista ja sosiologeista koostuva joukko toi esiin kriittisiä näkemyksiä mielisairaalapotilaiden oikeuksista ja hoidosta samalla kyseenalaisten sairauksien medikaalisen mielen. He kommentoivat samalla sekä psykiatrian vallan käyttöä, että länsimaisen sivilisaation tilaa. Sodan jälkeisen maailman murros eli teknologian kasvu, kaupungistuminen ja arvojen materiaalistuminen vähensivät mahdollisuutta ihmisten sosiaalisten tarpeiden tyydyttämiseen. Nämä aiheuttivat henkilökohtaisella tasolla arvojen yhteentörmäyksiä, mistä 1960-luvun vastakulttuurit, kuten antipsykiatria, saivat kasvualustaa. Laingin teos avaa yhden näkökulman 1960-luvun ajatteluun ja kulttuuriin, jossa elettiin uudenlaisten elämäntapojen etsimisen aikaa. Laingin esittämät argumentit saivat laboratorion Kingsley Hallin terapeuttisesta yhteisöstä, joka perustettiin The Philadelphia Associationin tuella Lontoon East Endiin vuonna 1965. Tarkastelen yhteisöä paikkautopiana ja vaihtoehtona mielisairaalahoidolle. Laingin teoksen ja Kingsley Hallin kokeilun kautta asetan antipsykiatrian osaksi 1960-luvun vastakulttuuristen liikkeiden kirjoa.

An Analogue of Beurling-Hörmander’s Theorem for the Dunkl-Bessel Transform

Mathematics Subject Classification: Primary 35R10, Secondary 44A15