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We extend the Jones (1971) analysis of the effects of distortions in 2×2 trade models to the case of a two-sector dynamic general equilibrium model of a small open economy with capital accumulation. We do a comparative steady state analysis for the effect of policy changes on factor prices and the capital stock, and examine the dynamics of the system in the neighborhood of the steady state. We also show that the system will have multiple equilibria when value and physical factor intensity rankings of the sectors do not agree.

In a dynamic environment where underlying competition is “for the market,” this chapter examines what happens when entrants and incumbents can instead negotiate for the market. For instance, this might arise when an entrant innovator can choose to license to or be acquired by an incumbent firm (i.e., engage in cooperative commercialization). It is demonstrated that, depending upon the level of firms’ potential dynamic capabilities, there may or may not be gains to trade between incumbents and entrants in a cumulative innovation environment; that is, entrants may not be adequately compensated for losses in future innovative potential. This stands in contrast to static analyses that overwhelmingly identify positive gains to trade from such cooperation.

The author presents a comparative study of the three evolutionary economic schools, namely the Austrians, neo-Schumpeterians, and institutionalists. The comparison is based on an analysis of nine basic features of the evolutionary process and evolutionary approach, including a dynamical view of economic phenomena (seen from a historical perspective), a focus on far-from-equilibrium analysis, a proper and realistic perception of time, and a population perspective (to what extent emergent properties are results of interaction among economic agents). The relevant features of the evolutionary process are the heterogeneity and behavior of economic agents, the search for novelty based on a concept of economic agents’ hereditary information, a selection process (based on the concept of rivalry), spontaneity of development, and the presence of decision-making procedures (how economic agents make decisions, and to what extent their subjective values play a role). The goal of the comparative analysis is to estimate the level of “evolutionary content” of the three schools. My subjective evaluation suggests that only the Austrian school can be called entirely evolutionary. Slightly less evolutionary are the neo-Schumpeterians, and the least evolutionary are the institutionalists.

Purpose – Marketers are under increasing pressure to demonstrate the financial return associated with marketing expenditures. Concurrently, more attempts at measuring return on investment from marketing as well as achieving other long-term goals such as building brand equity and increasing shareholder value have been made. As a result of this emphasis, the degree to which advertising budgets are spent efficiently and the impact of these expenditures on the bottom line are an important topic to study.

Methodology/approach – This study applies data envelopment analysis (DEA) to a group of large firms to assess the degree to which companies spend advertising dollars efficiently and to examine the impact of advertising efficiency on investor behavior and, ultimately, stock prices.

Findings – The analysis reveals that firms that advertise more efficiently are rewarded by investors by positive stock returns.

Research limitations/implications (if applicable) – The study is limited to large enterprises with strong brands within a time frame of only four years.

Practical implications (if applicable) – The results imply that it is advisable for marketing managers not to limit their focus to increasing market-based assets at any cost. The efficiency of their efforts can send a positive signal to investors and contribute to shareholder value enhancement.

Originality/value of the chapter – The chapter finds investors to pay attention not only to the effectiveness of advertising activities but also to their efficiency. The study also demonstrates how DEA and stock return response modeling can be combined to investigate the link between advertising efficiency and investor behavior.

While many inconsistencies can be found in Marx's theory if one chooses a view of reality in which time is absent, these inconsistencies disappear if the view is taken that time is an essential component of that theory. The debate is thus between the simultaneist and the temporalist camp. This article sides with the temporalist approach but at the same time it argues that both sides have focused mainly on quantitative and formal logic aspects. This is the limit of the debate. The debate should move on from being only a critique and counter-critique of each other applying only formal logic to the issue of consistency to showing how and whether the different postulates (a time-less versus a time-full reality) and the interpretations deriving from them are an instance of a wider theory of radical social change. From this angle, simultaneism implies equilibrium and thus a view of the economy tending toward its equilibrated reproduction. Capitalism is thus theorized as an inherently rational system and any attempt to supersede it is irrational. This is simultaneism's social content. Temporalism, if immersed in a dialectical context, reaches the opposite conclusions: the economy is in a constant state of nonequilibrium and tends cyclically toward its own supersession. Capitalism is inherently irrational and any attempt to supersede it is rational. Simultaneist authors should now show how their approach to the issue of consistency fits into a broader theory furthering the liberation of Labor.

To choose a dialectical view of temporalism is thus to take sides for Labor.

It is now well-established that good water quality is associated with economic prosperity, reduced incidence on public health and the good functioning of the various ecosystems found in our environment. Water contamination is mostly related to both diffused (agricultural lands and geologic rock degradations) and point sources of pollution. Mauritius has many water resources which depend solely on precipitation for their replenishment. Water parameters which are of relevance include total dissolved solids (TDS), temperature, pH, electrical conductivity, turbidity, dissolved oxygen, dissolved and particulate organic carbon and major cations and anions. The traditional methods of analysis for these parameters are mostly using electrical and optical methods (probes and sensors in the field), while chemical titrations, Flame AAS and High-Performance Liquid Chromatography techniques are carried out in the laboratory. Image Classification techniques using neural networks can also be used to detect the presence of contaminants in water. In addition to basic water quality parameters, the field sensors range have been extended to cover important major ions and can now be integrated with Artificial Intelligence (AI)-based models for the prediction of variations in water quality to better protect human health and the environment, reduce operation costs of water and wastewater treatment plant unit processes.

A discipline is bound by some combination of a shared subject matter, shared theory, and shared technique. Yet modern economics is seemingly without limit to its domain. As a discipline without a shared subject matter, what is the binding force of economics today? The authors combine topic modeling and text analysis to analyze different approaches to inquiry within the discipline of economics. The authors find that the importance of theory has declined as economics has increasingly become defined by its empirical techniques. The authors question whether this trajectory is stable in the long run as the binding force of the discipline.

The European Union’s Digital Markets Act (DMA) calls for far-reaching changes to the way economic activity will occur in EU digital markets. Before its remedies are imposed, it is critical to assess their impacts on individual markets, the digital sector, and the overall European economy. The European Commission (EC) released an Impact Assessment in support of the DMA that purports to evaluate it using cost/benefit analysis.

An economic evaluation of the DMA should consider its full impacts on dynamic competition. The Impact Assessment neither assesses the DMA's impact on dynamic competition in the digital economy nor evaluates the impacts of specific DMA prohibitions and obligations. Instead, it considers benefits in general and largely ignores costs. We study its benefit assessments and find they are based on highly inappropriate methodologies and assumptions. A cost/benefit study using inappropriate methodologies and largely ignoring costs cannot provide a sound policy assessment.

Instead of promoting dynamic competition between platforms, the DMA will likely reinforce existing market structures, ossify market boundaries, and stunt European innovation. The DMA is likely to chill R&D by encouraging free riding on the investments of others, which discourages making those investments. Avoiding harm to innovation is critical because innovation delivers large, positive spillover benefits, driving increases in productivity, employment, wages, and prosperity.

The DMA prioritizes static over dynamic competition, with the potential to harm the European economy. Given this, the Impact Assessment does not demonstrate that the DMA will be beneficial overall, and its implementation must be carefully tailored to alleviate or lessen its potential to harm Europe’s economic performance.

This research used a Phenomenography approach of Eye Tracking to study the Biometric changes when participants were subjected to eight static subliminal images hidden in seven differently designed packages. Embeds or static subliminal stimulus in the form of pictures and words were hidden in seven different perfume packages and were used to study the changes experienced between the two groups, one of which was subjected to subliminal stimulus. This study was conducted in the Neuro Lab located in the SP Jain Sydney campus. A total of 46 healthy participants were separated into two groups, with one group shown image packages with static subliminal stimulus while the other group was shown image packages without any subliminal stimulus. Eye Tracking data was collected using iMotions. A detailed analysis of the Area of Interest (AOI), Fixation and Heat Map revealed that only a percentage of the participants visited the AOI with the hidden subliminal stimulus, but the participants who noticed the AOIs with the subliminal stimulus especially the male participants spent more time in the AOI indicating that they could be consciously processing the subliminal static stimulus. A statistical analysis of the time to first fixations (TIFF) revealed that the subliminal stimulus was not the first point of attraction.