This paper models the dynamic process through which a large society may succeed in building up its social capital by establishing a stable and dense pattern of interaction among its members. In the model, agents interact according to a collection of infinitely repeated Prisoner's Dilemmas played...

This paper presents a study of successful and creative projects in the pharmaceutical industry. Creativity is here defined as the ability to bring forth a new product within a specific domain of knowledge, namely in gastrointestinal, cardiovascular and oncological medicine. The paper, being...

This paper examines the impact of vaccination programs on the stock market volatility of the travel and leisure sector. Using daily data from 56 countries over the period from January 2020 to March 2021, we find that vaccination leads to a decrease in the investment risk of travel and leisure...

The 2019 COVID-19 pandemic led to an economic slowdown worldwide and shook the investment world. Pharmaceutical investments were influenced by the anticipation of COVID-19 vaccine developments. Our study examines the real-time impact of public announcements concerning COVID-19 vaccine...

The oscillation of COVID-19 growth beginning in early 2020 has had a sustaining impact on financial markets. Examining regional equity indices in ten epicentres of the virus, we investigate the manifestation of negative COVID-19 sentiment and associated growth (through total cases) and positive...