Capitalism With Capital: A Suggested Remedy for the Absence of Investment Decision Making in Basic Microeconomics Teaching

'[U]nder competition, the rate of return on investment tends toward equality in all industries.' Introductory and intermediate microeconomics textbooks are sketchy in explaining how capital is allocated by financial markets. Capital budgeting techniques, primarily net present value, deserve a more prominent role. This article suggests ways in which financial economics can be integrated into undergraduate courses to illuminate entry into (and exit from) industries in response to profit opportunities, as an essential part of economists' narration of resource allocation in a capitalistic and dynamic market economy.

Capitalism With Capital: A Suggested Remedy to the Absence of Investment Decision-making in Basic Microeconomics Teaching

“[U]nder competition, the rate of return on investment tends toward equality in all industries.” Introductory and intermediate microeconomics textbooks are sketchy in explaining how capital is allocated by financial markets. Capital budgeting techniques, primarily net present value, deserve a more prominent role. This article suggests ways in which financial economics can be integrated into undergraduate courses to illuminate entry into (and exit from) industries in response to profit opportunities, as an essential part of economists’ narration of resource allocation in a capitalistic, market economy.capital budgeting, present value, competitive equilibrium, economic education

Certain transformations and summations for generalized hypergeometric series with integral parameter differences

Certain transformation and summation formulas for generalized hypergeometric series with integral parameter differences are derived

Clausen's series 3F2(1) with integral parameter differences and transformations of the hypergeometric function 2F2(x)

We obtain summation formulas for the hypergeometric series 3 F 2(1) with at least one pair of numeratorial and denominatorial parameters differing by a negative integer. The results derived for the latter are used to obtain Kummer-type transformations for the generalized hypergeometric function 2 F 2(x) and reduction formulas for certain Kampé de Fériet functions. Certain summations for the partial sums of the Gauss hypergeometric series 2 F 1(1) are also obtained

Transformation formulas for the generalized hypergeometric function with integral parameter differences

Transformation formulas of Euler and Kummer-type are derived respectively for the generalized hypergeometric functions r+2Fr+1(x) and r+1Fr+1(x), where r pairs of numeratorial and denominatorial parameters differ by positive integers. Certain quadratic transformations for the former function, as well as a summation theorem when x = 1, are also considered.<br/

Euler-type transformations for the generalized hypergeometric function r+2Fr+1(x)

We provide generalizations of two of Euler’s classical transformation formulas for the Gauss hypergeometric function extended to the case of the generalized hypergeometric function r+2 F r+1(x) when there are additional numeratorial and denominatorial parameters differing by unity. The method employed to deduce the latter is also implemented to obtain a Kummer-type transformation formula for r+1 F r+1 (x) that was recently derived in a different way

Faster Approximate Multicommodity Flow Using Quadratically Coupled Flows

The maximum multicommodity flow problem is a natural generalization of the maximum flow problem to route multiple distinct flows. Obtaining a $1-\epsilon$ approximation to the multicommodity flow problem on graphs is a well-studied problem. In this paper we present an adaptation of recent advances in single-commodity flow algorithms to this problem. As the underlying linear systems in the electrical problems of multicommodity flow problems are no longer Laplacians, our approach is tailored to generate specialized systems which can be preconditioned and solved efficiently using Laplacians. Given an undirected graph with m edges and k commodities, we give algorithms that find $1-\epsilon$ approximate solutions to the maximum concurrent flow problem and the maximum weighted multicommodity flow problem in time \tilde{O}(m^{4/3}\poly(k,\epsilon^{-1}))

The Durham Statement Two Years Later: Open Access in the Law School Journal Environment

The Durham Statement on Open Access to Legal Scholarship, drafted by a group of academic law library directors, was promulgated in February 2009. It calls for two things: (1) open access publication of law school–published journals; and (2) an end to print publication of law journals, coupled with a commitment to keeping the electronic versions available in “stable, open, digital formats.” The two years since the Statement was issued have seen increased publication of law journals in openly available electronic formats, but little movement toward all-electronic publication. This article discusses the issues raised by the Durham Statement, the current state of law journal publishing, and directions forward

DHEA — Brass Ring or Red Herring?

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/111280/1/j.1532-5415.1997.tb02942.x.pd

When Will The Biology of Aging Become Useful? Future Landmarks in Biomedical Gerontology

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/111288/1/j.1532-5415.1997.tb03781.x.pd