Drug Promotions Between Ethics, Regulations, and Financial Interests.

BACKGROUND: The promotion of the latest medicines produced by the pharmaceutical industry is an important issue both from an ethical point of view (the level of accessibility, the way research is carried out) and from the point of view of marketing and especially from the lobbying issues raised. AREAS OF UNCERTAINTY: The ethical dilemmas raised by the promotion of new drugs revolve between the need to discover new molecules important for treating a wide range of diseases and the need to establish a battery of ethical rules, absolutely necessary for regulations in the field to be compliant with all ethical principles. DATA SOURCES: A literature search was conducted through PubMed, MEDLINE, Plus, Scopus, and Web of Science (2015-2023) using combinations of keywords, including drugs, medical publicity, and pharma marketing plus ethical dilemma. ETHICS AND THERAPEUTIC ADVANCES: The promotion of medicines is governed by advertising laws and regulations in many countries, including at EU level, based on the need for countries to ensure that the promotion and advertising of medicines is truthful, based on information understood by consumers. The ethical analysis of the issues raised is more necessary and complex as the channels used for promotion are more accessible to the population, and the information, easier to obtain, can be the cause of increased self-medication and overeating. Large amounts of money invested in the development of new molecules, but also the risk of scientific fraud through manipulation of data during clinical trials, selective or biased publication of information can have repercussions on the health of the population. CONCLUSIONS: The development of new pharmaceutical molecules is necessary to intervene and treat as many conditions as possible, but marketing must not neglect the observance of ethical principles. The promotion of medicines should be the attribute especially of the medical staff, which should also be a mandatory part of the mechanism for approving the marketing methods and means used by the pharmaceutical companies.

Five-Year Sales for Newly Marketed Prescription Drugs With and Without Initial Orphan Drug Act Designation.

This study evaluates sales revenue earned in the first 5 years for newly marketed brand-name drugs with and without an initial orphan drug designation.

Impact persistence of stock market risks in commodity markets: Evidence from China.

The risk spillover among financial markets has been noticeably investigated in a burgeoning number of literature. Given those doctrines, we scrutinize the impact persistence of volatility spillover and illiquidity spillover of Chinese commodity markets in this paper. Based on the sample from 2010 to 2020, we reveal that there is a cross-market spillover of volatility and illiquidity in China and also, interactions between volatility and illiquidity in different financial markets are pronounced. More importantly, we demonstrate that different commodity markets have different responsiveness to stock market shocks, which embeds their market characteristics. Specifically, we discover that the majority of the traders in gold market might be hedger and therefore gold market is more sensitive to stock market illiquidity shock and thus the shock impact in persistent. On the other hand, agricultural markets like corn and soybean markets might be dominated by investors and thus those markets respond to the stock market volatility shocks and the shock impact in persistent over 10 periods given the first period of risk shock happening. In fact, different Chinese commodity markets' responsiveness towards Chinese stock market risk shocks indicates the stock market risk impact persistence in Chinese commodity markets. This result can help policymakers to understand the policy propagation effect according to this risk spillover channel and risk impact persistence mechanism in China.

The influence that Spanish Labour Reform represents on Madrid Stock Market: An empirical analysis.

Empirical evidence for Spanish Stock Market shows that labour events, like a firm level collective agreement, have informative content for the market due to the loss of wealth that it implies for the investor. Labour Reforms which Spain experienced between the years 2010 and 2012 have allowed the jeopardising of employment and the destruction of jobs, substituting one well paid by another of lower cost for the firm, the cost of dismissal, or the proposals of substituting payoffs by the so-called Austrian backpack, and the elimination of the distinction between temporary and permanent contracts. These Labour Reforms affect many of the accounting and financial variables, which are the subject of analysis and follow-up by investors and analysts, next to the idiosyncrasy of the Open Shop System that is followed in Spain, the present article means to explore the effect on Madrid Stock Market. Our results, applying analysis techniques with decision trees where we control the effect of the economic crisis on the market reaction, show that the Labour Reforms of 2010 to 2012 are incorporated as negative, or positive, information when the investor perceives a possible decrease, or increase, in its future cash flows.

A new framework for warehouse assessment using a Genetic-Algorithm driven analytic network process.

A novel way of integrating the genetic algorithm (GA) and the analytic network process (ANP) is presented in this paper in order to develop a new warehouse assessment scheme, which is developed through various stages. First, we define the main criteria that influence a warehouse performance. The proposed algorithm that integrates the GA with the ANP is then utilized to determine the relative importance values of the defined criteria and sub-criteria by considering the interrelationships among them, and assign strength values for such interrelationships. Such an algorithm is also employed to linguistically present the relative importance and the strength of the interrelationships in a way that can circumvent the use of pairwise comparisons. Finally, the audit checklist that consists of questions related to the criteria is integrated with the proposed algorithm for the development of the warehouse assessment scheme. Validated on 45 warehouses, the proposed scheme has been shown to be able to identify the warehouse competitive advantages and the areas where more improvements can be achieved.

Marketable value estimation of patents using ensemble learning methodology: Focusing on U.S. patents for the electricity sector.

Patent valuation is required to revitalize patent transactions, but calculating a reasonable value that consumers and suppliers could satisfy is difficult. When machine learning is used, a quantitative evaluation based on a large volume of data is possible, and evaluation can be conducted quickly and inexpensively, contributing to the activation of patent transactions. However, due to patent characteristics, securing the necessary training data is challenging because most patents are traded privately to prevent technical information leaks. In this study, the derived marketable value of a patent through event study is used for patent value evaluation, matching it with the semantic information from the patent calculated using latent Dirichlet allocation (LDA)-based topic modeling. In addition, an ensemble learning methodology that combines the predicted values of multiple predictive models was used to determine the prediction stability. Base learners with high predictive power for each fold were different, but the ensemble model that was trained on the base learners' predicted values exceeded the predictive power of the individual models. The Wilcoxon rank-sum test indicated that the superiority of the accuracy of the ensemble model was statistically significant at the 95% significance level.

Trade informativeness and liquidity in Bitcoin markets.

Liquid markets are driven by information asymmetries and the injection of new information in trades into market prices. Where market matching uses an electronic limit order book (LOB), limit orders traders may make suboptimal price and trade decisions based on new but incomplete information arriving with market orders. This paper measures the information asymmetries in Bitcoin trading limit order books on the Kraken platform, and compares these to prior studies on equities LOB markets. In limit order book markets, traders have the option of waiting to supply liquidity through limit orders, or immediately demanding liquidity through market orders or aggressively priced limit orders. In my multivariate analysis, I control for volatility, trading volume, trading intensity and order imbalance to isolate the effect of trade informativeness on book liquidity. The current research offers the first empirical study of Glosten (1994) to yield a positive, and credibly large transaction cost parameter. Trade and LOB datasets in this study were several orders of magnitude larger than any of the prior studies. Given the poor small sample properties of GMM, it is likely that this substantial increase in size of datasets is essential for validating the model. The research strongly supports Glosten's seminal theoretical model of limit order book markets, showing that these are valid models of Bitcoin markets. This research empirically tested and confirmed trade informativeness as a prime driver of market liquidity in the Bitcoin market.

An economic model of multi-level marketing.

This paper offers an economic model of the operation of multi-level marketing (MLM) firms in competitive and non-competitive markets. The model takes a recursive approach to analyse decision making at the distributor level in order to understand basic issues in the MLM market and firm structure. Specifically, it is shown that under reasonable assumptions MLM firms will have a limited structure. In cases where commissions increase with the number of levels, MLM firms will include no more than six to nine levels in equilibrium. In cases of fixed commissions, market conditions dictate a cap on the number of distributors. These conditions imply a limited "multi-level" structure. They also imply that the revenues of the median distributor are mainly a result of direct sales and not a result of commissions. The model also suggests that MLM firms will only arise where marketing costs are substantial, and that it is primarily individuals with small outside offers who choose to become distributors. Finally, the model provides a formula that calculates market prices for a monopoly MLM firm.

RD internationalization, domestic technology alliance, and innovation in emerging market.

Although R&D internationalization plays an important role in enterprises' globalization, few studies explore the mechanism of R&D internationalization and emerging market companies' innovation, or the relationship between R&D internationalization, domestic technology alliances and absorptive capacity. How does the R&D internationalization of emerging market enterprises affect the innovation of those enterprises? Under fierce market competition, do absorption capacity and domestic technology alliances have a significant impact on enterprise innovation? From the perspective of the knowledge-based view, this paper studies 185 enterprises undergoing R&D internationalization in China from 2012 to 2017, using high-dimensional Poisson fixed effects model, we use instrumental (HDFE IV) estimation to explain the impact of R&D internationalization on the innovation of the parent company and the mechanism behind it. The study finds that R&D internationalization positively promotes the parent company's innovation, and domestic technology alliances and absorptive capacity play a partial mediator role in R&D internationalization. In the face of fierce market competition, domestic technical alliances play a significant role in promoting enterprise innovation, while absorptive capacity plays a negative role in promoting enterprise innovation with the moderating effect of market competition.

The European tomato market. An approach by export competitiveness maps.

Most empirical studies examining the export competitiveness of a country in a target market are undertaken by focusing on supply, only analysing the group of competing countries. In addition, if the target market to be analysed is extensive, like the European Union, it is generally analysed as a whole. This study presents an evaluation of the tomato export competitiveness, from a differentiated demand perspective, analysing its main customers markets in the context of European Union. The methodological framework is implemented through Constant Market Share to analyze variations in exports, allowing the portion attributable to competitiveness and segregation into general or specific competitiveness to be quantified. The Constant Market Share was adapted to focus on the differentiated demand so as to observe the influence of the worldwide crisis (2007/08) on the European tomato market. This study allows the analysis of profile changes into the competitor exporting economies. As a contribution to the methodology, this study presents a new graphical way of representing the results of Constant Market Share methodology by means of export competitiveness maps in the European tomato market for the group for each main competitor in each European client market. According to our results, Spain and Belgium are candidate countries to be competitive in the main European markets.

Threshold effect of government subsidy, corporate social responsibility and brand value using the data of China's top 500 most valuable brands.

An increasing number of firms have begun to attach importance to corporate social responsibility (CSR) to obtain sustainable strategic advantages in the competitive market. On the basis of nonlinear perspective, panel data of A-share listed companies in the ranking list of China's Top 500 Most Valuable Brands in 2012-2018 and Hansen panel threshold regression technology were adopted. With government subsidy and CSR being threshold variables, the internal mechanism about the influence of government subsidy and CSR on brand value was explored. Results show that the following. (1) CSR has a significantly inverted U-type threshold effect on brand value. (2) Government subsidy facilitates CSR with diminishing marginal utility. (3) When a difference exists in the strength of government subsidy, the influence of CSR on brand value presents a significant N-type law. Furthermore, threshold regression method was used to innovatively explore the complex nonlinear relationship among government subsidy, CSR, and brand value. This relationship has a significantly practical significance for listed firms for weighing the business decisions regarding the input of CSR and brand value, as well as subsidy policies for enterprises by the government.

Evolution of diversity and dominance of companies in online activity.

Ever since the web began, the number of websites has been growing exponentially. These websites cover an ever-increasing range of online services that fill a variety of social and economic functions across a growing range of industries. Yet the networked nature of the web, combined with the economics of preferential attachment, increasing returns and global trade, suggest that over the long run a small number of competitive giants are likely to dominate each functional market segment, such as search, retail and social media. Here we perform a large scale longitudinal study to quantify the distribution of attention given in the online environment to competing organisations. In two large online social media datasets, containing more than 10 billion posts and spanning more than a decade, we tally the volume of external links posted towards the organisations' main domain name as a proxy for the online attention they receive. We also use the Common Crawl dataset-which contains the linkage patterns between more than a billion different websites-to study the patterns of link concentration over the past three years across the entire web. Lastly, we showcase the linking between economic, financial and market data by exploring the relationships between online attention on social media and the growth in enterprise value in the electric carmaker Tesla. Our analysis shows that despite the fact that we observe consistent growth in all the macro indicators-the total amount of online attention, in the number of organisations with an online presence, and in the functions they perform-we also observe that a smaller number of organisations account for an ever-increasing proportion of total user attention, usually with one large player dominating each function. These results highlight how evolution of the online economy involves innovation, diversity, and then competitive dominance.

Yield, profitability, and prospects of irrigated Boro rice cultivation in the North-West region of Bangladesh.

The North-West (NW) region of Bangladesh is pivotal for the country's agricultural development, mainly in producing irrigated Boro rice. However, increasing cost of irrigation water, fertilizers, labour and other inputs, and the spatio-temporal variation in actual yield, market price and profitability of rice, have added uncertainty to the sustainability of Boro rice cultivation. In this study, we evaluated the productivity, profitability, and prospect of Boro rice production using comprehensive field data collected directly from 420 farmers' fields over two consecutive seasons (2015-16 and 2016-17), across seven geographically distributed locations in the NW region. We also analyzed the risk and return trade of popular Boro rice cultivars using Monte-Carlo simulation. The results show that there were significant (p≤0.05) variations in rice yield between sites, irrigation pump-types, and rice varieties, with Hybrid rice and BRRI dhan29 producing highest yields (6.0-7.5 t/ha). Due to different pricing systems, the cost of irrigation water varied from site to site and from year to year, but always comprised the highest input cost (20-25% of total production). The total paid-out cost, gross benefit, and gross income of rice significantly (p≤0.05) differed between sites, type of irrigation pumps, rice varieties, transplanting dates, and two cropping years. The variations in observed yield and profitability reveal considerable scope to improve rice production systems. Market variation in the price of rice affected overall profitability significantly. Probability and risk analysis results show that Minikit and BRRI dhan29 are the most stable varieties for yield and profitability. Hybrid rice, which has the maximum attainable yield among the cultivated rice varieties, also has the risk of negative net income. Based on the analysis, we discussed ways to improve yield and profitability and the prospect of Boro rice cultivation in the region. The study provides valuable information for policy-makers to sustain irrigated rice cultivation in both the NW region and nationally.

Reconstructing dynamics of foodborne disease outbreaks in the US cattle market from monitoring data.

Conventional empirical studies of foodborne-disease outbreaks (FDOs) in agricultural markets are linear-stochastic formulations hardwiring a world in which markets self-correct in response to external random shocks including FDOs. These formulations were unequipped to establish whether FDOs cause market reaction, or whether markets endogenously propagate outbreaks. We applied nonlinear time series analysis (NLTS) to reconstruct annual dynamics of FDOs in US cattle markets from CDC outbreak data, live cattle futures market prices, and USDA cattle inventories from 1967-2018, and used reconstructed dynamics to detect causality. Reconstructed deterministic nonlinear market dynamics are endogenously unstable-not self-correcting, and cattle inventories drive futures prices and FDOs attributed to beef in temporal patterns linked to a multi-decadal cattle cycle undetected in daily/weekly price movements investigated previously. Benchmarking real-world dynamics with NLTS offers more informative and credible empirical modeling at the convergence of natural and economic sciences.

The joint dynamics of investor beliefs and trading during the COVID-19 crash.

We analyze how investor expectations about economic growth and stock returns changed during the February-March 2020 stock market crash induced by the COVID-19 pandemic, as well as during the subsequent partial stock market recovery. We surveyed retail investors who are clients of Vanguard at three points in time: 1) on February 11-12, around the all-time stock market high, 2) on March 11-12, after the stock market had collapsed by over 20%, and 3) on April 16-17, after the market had rallied 25% from its lowest point. Following the crash, the average investor turned more pessimistic about the short-run performance of both the stock market and the real economy. Investors also perceived higher probabilities of both further extreme stock market declines and large declines in short-run real economic activity. In contrast, investor expectations about long-run (10-y) economic and stock market outcomes remained largely unchanged, and, if anything, improved. Disagreement among investors about economic and stock market outcomes also increased substantially following the stock market crash, with the disagreement persisting through the partial market recovery. Those respondents who were the most optimistic in February saw the largest decline in expectations and sold the most equity. Those respondents who were the most pessimistic in February largely left their portfolios unchanged during and after the crash.

Supplemental Nutrition Assistance Program (SNAP)-Authorized Retailers' Perceived Costs to Use Behavioral Economic Strategies to Encourage Healthy Product Sales.

SNAP-authorized retailers could use marketing-mix and choice-architecture (MMCA) strategies to improve SNAP purchases, but associated costs are unknown. Perceived cost and inconvenience to implement eight MMCA strategies were assessed among 29 U.S. retailers. Differences in perspective were explored (owners vs. managers, corporate vs. independent retailers, and by format). Place changes (e.g., added refrigeration) were perceived more costly and prompting (e.g., shelf labeling) less costly. Managers rated the perceived inconvenience to make proximity changes higher than owners (3.78 ± 1.4 and 2.33 ± 1.2, respectively) (p < .05). Results can inform strategies to improve the adoption and implementation of healthy food retail programs.

Regulatory considerations in biosimilars: Asia pacific regions.

Biosimilars are the biological drugs that are granted after the expiry of the patent of an affirmed innovator. Asia Pacific countries are characterized by significant demand as they account for majority of the world population and poor affordability due to low per capita income in most regions. Some of these countries offer potential to emerge as global suppliers of affordable, safe and efficacious biosimilars. This article highlights the prospects of biosimilars in the Asia Pacific market. Regulatory framework in the various countries is also discussed.

Assessing whether the best land is cultivated first: A quantile analysis.

Classical land rent theories imply that the best land is cultivated first. This principle forms the basis of many land-use studies, but empirical evidence remains limited, especially on a global scale. In this paper, we estimate the effects of agricultural suitability and market accessibility on the spatial allocation of cultivated areas at a 30 arc-min resolution in 15 world regions. Our results show that both determinants often have a significant positive effect on the cropland fraction, but with large variations in strength across regions. Based on a quantile analysis, we find that agricultural suitability is the dominant driver of cropland allocation in North America, Middle East and North Africa and Eastern Europe, whereas market accessibility shows a stronger effect in other regions, such as Western Africa. In some regions, such as South and Central America, both determinants have a limited effect on cropland fraction. Comparison of high versus low quantile regression coefficients shows that, in most regions, densely cropped areas are more sensitive to agricultural suitability and market accessibility than sparsely cropped areas.