Tuesday, May 11, 2010

W.B.Yeats - 'An Irish Airman Foresees His Death'

I know that I shall meet my fate
Somewhere among the clouds above;
Those that I fight I do not hate,
Those that I guard I do not love;
My country is Kiltartan Cross,
My countrymen Kiltartan's poor,
No likely end could bring them loss
Or leave them happier than before.
Nor law, nor duty bade me fight,
Nor public men, nor cheering crowds,
A lonely impulse of delight
Drove to this tumult in the clouds;
I balanced all, brought all to mind,
The years to come seemed waste of breath,
A waste of breath the years behind
In balance with this life, this death.

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Game Theory

“That in the capacity expansion game, you want to move first. By moving first, you scare the opposition into not expanding, boosting profitability. The difficulty of course is that the right to move is not handed out but to be seized. Some sellers attempt just this with announcements about plant expansions. However, unless such announcements are credible, they do little to deter rivals.One setting where a seller has the ability to move first is in pharmaceuticals.

When the patent upon a particular drug expires, it is subject to competition from generic versions of the same. Some patent holders choose to introduce their own generic before expiration of the patent. This has the obvious negative effect of cannibalizing sales of the patented product. This is offset by preemption effect. Expanding first in the generic category will reduce the scale at which other generic produces will enter the market. Upjohn for example, succeeded in controlling 90% of the generic market for its patented drug Xanax by introducing its own generic substitute one month before expiration of the Xanax patent. Syntex introduced its own generic version of its patented drug Naprosyn two months before patent expiration with similar success.”

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