The transaction costs in biotechnology

This paper aims to relate the principles of Ronald Coase Theorem with negative impacts of biotechnology, taking cases of specific research groups and medium-sized companies in biotechnology. We consider an application of economic theory on transaction costs (TTC) provides a good foundation for understanding the underlying problems of this sector, even more, when analyzing the political economy of biotechnology since the transaction costs can best viewed their limitations and the limited scope of government policy. In biotechnology it is possible to get a policy that combines both equity and efficiency, that is, a wider range of policy applications to improve the living standards of people in Colombia.Coase Theorem, Transaction costs, Biotechnology, Public Choice, Colombia

Transaction costs, externalities and innovation

There is now considerable evidence on the value of using external resources to promote the development of innovative technologies. Furthermore, the ability to experience innovations in business by external links that may help to avoid risk, improve the quality of natural products, which means qualifying business activities and promote companies capable of rationalizing and projecting high yields. This paper provides an approach from the transaction cost theory of Ronald Coase, in particular, provides preconditions to estimate the specific market of biotechnology.Coase theorem, Transactions costs, Biotechnology, Ronald Coase, Innovation, Fiancial Markets

Query Expansion with Locally-Trained Word Embeddings

Continuous space word embeddings have received a great deal of attention in the natural language processing and machine learning communities for their ability to model term similarity and other relationships. We study the use of term relatedness in the context of query expansion for ad hoc information retrieval. We demonstrate that word embeddings such as word2vec and GloVe, when trained globally, underperform corpus and query specific embeddings for retrieval tasks. These results suggest that other tasks benefiting from global embeddings may also benefit from local embeddings

Producción cepalina sobre educación

El siguiente trabajo presenta una visión global del conjunto de la producción de la Comisión Económica para América Latina y el Caribe (CEPAL) sobre educación, mediante la clasificación y análisis de las publicaciones cepalinas relacionadas con el tema educativo desde 1949 hasta 2002. Para dar esa visión dividí los documentos bajo tres criterios temporales y bajo cuatro clasificaciones. Los criterios temporales fueron: anualmente, en dos periodos (1949-1976 y 1977-2002) y en seis etapas (1949-1960, 1961-1963, 1964-1976, 1977-1986, 1987-1989 y 1990-2002). Las cuatro clasificaciones fueron de acuerdo con su extensión en número de páginas, por tipo de publicación, por su ámbito geográfico y por su vinculación temática.El siguiente trabajo presenta una visión global del conjunto de la producción de la Comisión Económica para América Latina y el Caribe (CEPAL) sobre educación, mediante la clasificación y análisis de las publicaciones cepalinas relacionadas con el tema educativo desde 1949 hasta 2002. Para dar esa visión dividí los documentos bajo tres criterios temporales y bajo cuatro clasificaciones. Los criterios temporales fueron: anualmente, en dos periodos (1949-1976 y 1977-2002) y en seis etapas (1949-1960, 1961-1963, 1964-1976, 1977-1986, 1987-1989 y 1990-2002). Las cuatro clasificaciones fueron de acuerdo con su extensión en número de páginas, por tipo de publicación, por su ámbito geográfico y por su vinculación temática

Credit and inflation under borrower’s lack of commitment

Here we investigate the existence of credit in a cash-in-advance economy where there are complete markets but for the fact that agents cannot commit to repay their debts. Defectors are banned from the credit market but they can use money balances for saving purposes. Without uncertainty, deflation crowds out credit completely. The equilibrium allocation, however, is efficient if the government deflates at the time preference rate. Efficiency can also be restored with positive inflation. For any non negative inflation rate below the optimal level, the volume of credit and the real interest rate increase with inflation. Our results hold when idiosyncratic uncertainty is introduced and households are sufficiently impatient but in one instance: efficiency cannot be restored if the deflation rate is nearby the rate of time preference. Our numerical examples suggest that the optimal inflation rate is not too large for reasonable levels of patience and risk aversion. Finally, we present a framework where the use of money arises endogenously and show that it is tantamount to our cash-in-advance framework. Our results hold in this modified environment.