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  • 101
    ISSN: 1436-6304
    Keywords: Key words: Strategic debt policy – Marketing and financing interactions – Debt and new product pricing policy ; Schlüsselwörter: Strategische Verschuldungspolitik – Marketing und Finanzierung – Verschuldung und Neuproduktpreispolitik
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Der Markterfolg eines neuen Produktes hängt in besonderem Maße von der Marketingstrategie ab, die in der Einführungsphase seines Produktlebenszyklus verfolgt wird. In der entscheidungsorientierten Marketingliteratur wird diese Problemstellung u.a. im Zusammenhang mit der Anwendung von Diffusionsmodellen diskutiert. Während die meisten Diffusionsansätze zur Modellierung der Adoptionsraten des Neuproduktes lediglich Marketingvariablen wie Preis oder Werbung heranziehen, argumentieren wir, dass der Erfolg eines Neuproduktes nicht nur von einer optimalen Marketing-Mix-Strategie, sondern auch von den Finanzierungsentscheidungen einer Firma abhängt. Wir zeigen anhand eines einfachen Diffusionsmodells auf, dass eine größere Verschuldung im Falle unsicherer Nachfrage und beschränkter Haftung die Unternehmung zu einem aggressiverem Auftreten auf dem Markt veranlasst, d.h. den Preis des Produktes zu senken. Unsere Ergebnisse implizieren, dass Marketingentscheidungen nicht isoliert, sondern in Verbindung mit finanziellen Variablen getroffen werden sollten.
    Notes: Abstract. The market success of a new product critically depends on the marketing strategy that is adopted during the introductory phase of its life cycle. The decision theoretic marketing literature provides useful insights to this problem through the application of new product diffusion models. While most of the diffusion models incorporate only marketing variables such as price or advertising into the adoption rates of the new product, we introduce the issue of financial decision making and argue that the success of a new product not only depends on an optimal marketing mix strategy but also on the financial decisions of a firm. We adopt a simple diffusion model and show that in case with demand uncertainty and limited liability more leverage (a higher debt equity ratio) causes the firm to be more aggressive in the product market, i.e., to reduce the price of the product. Our findings suggest that marketing decisions should not be taken in isolation but should be coordinated with financial variables.
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  • 102
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    OR spectrum 22 (2000), S. 361-380 
    ISSN: 1436-6304
    Keywords: Key words: Inventory management – Service levels – Customer order waiting time – Supply chain optimization ; Schlüsselwörter: Lagerhaltung – Servicegrade – Lieferzeit – Logistikketten
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. In dieser Arbeit wird gezeigt, dass die üblichen in Theorie und Praxis eingesetzten lagerbezogenen $\alpha-$ , $\beta-$ und $\gamma-$ Servicegrade nur begrenzte Aussagen über die einen Kunden besonders interessierende Wartezeit eines Auftrags (Lieferzeit) gestatten. Es wird ein Verfahren zur Bestimmung der Wahrscheinlichkeitsverteilung der lagerbedingten Lieferzeit in einer (r,S)-Lagerpolitik mit diskretisierter Zeiteinteilung vorgestellt. Anhand eines einfachen Optimierungsmodells werden die Möglichkeiten der Optimierung von Logistik-Ketten diskutiert, die sich ergeben, wenn man die Zeit als Leistungskriterium der einzelnen Teilprozesse verwendet.
    Notes: Abstract. In this paper we consider an inventory location that serves downstream nodes (e. g. production processes, regional warehouses or customers) in a supply chain. It is pointed out, that the overall optimization of logistical processes should be based on the order delivery time as a critical unifying dimension. It is shown that the standard $\alpha-$ , $\beta-$ and $\gamma$ -service-levels used in inventory theory, when considered from the point of view of a downstream node in the supply chain, provide only limited information about the delay the orders observe. A procedure for the determination of the probability distribution of the order waiting time in a discrete time periodic (r,S)-inventory system is developed. Implications for the optimization of sub-processes in the supply chain are discussed.
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  • 103
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    OR spectrum 22 (2000), S. 461-489 
    ISSN: 1436-6304
    Keywords: Schlüsselwörter: Optionspreistheorie – Hyperoptionen – Garantiebewertung – Bewertung von Derivaten ; Key words: Option valuation – Compound options – Valuation of guarantees – Valuation of derivatives
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Summary. From a financial point of view, loan guarantees can be seen as put options on parts of the company's value. Usually, loan guarantees are valued by the model by Merton. This model, however, assumes that there are neither interest payments nor repayments of the loan itself (be it guaranteed or not) before the time to maturity. Our paper presents a model that allows the valuation of loan guarantees regardless of the terms and conditions of interim payments. The suggested model is applied to loans with different conditions of repayment. Furthermore, we investigate how changes in the parameters affect the risk adjusted premia of loan guarantees.
    Notes: Zusammenfassung. Aus finanzwirtschaftlicher Sicht können Kreditgarantien als Verkaufsoptionen auf das anteilige Gesamtvermögen einer Unternehmung interpretiert werden. Die Bewertung von Kreditgarantien erfolgt üblicherweise mit dem Ansatz von Merton. Bei diesem Modell wird jedoch unterstellt, daß sowohl für den garantierten Kredit als auch für das nicht garantierte Fremdkapital vor Ablauf der Laufzeit keinerlei Zins– und Tilgungszahlungen geleistet werden. Unsere Arbeit präsentiert ein Modell zur Bewertung von Garantien auf Kredite mit beliebigen Zins– und Tilgungsmodalitäten. Das vorgeschlagene Bewertungsmodell wird auf Kredite mit unterschiedlichen Tilgungsformen angewendet. Darüber hinaus werden Sensitivitätsanalysen bezüglich der Einflußfaktoren auf die aus dem Modell resultierenden Prämiensätze durchgeführt.
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  • 104
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    OR spectrum 22 (2000), S. 425-460 
    ISSN: 1436-6304
    Keywords: Key words: Multicriteria optimization – Combinatorial optimization – Bibliography – Exact methods – Heuristics ; Schlüsselwörter: Multikriterielle Optimierung – Kombinatorische Optimierung – Bibliographie – Exakte Verfahren – Heuristiken
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Der Artikel bietet einen Überblick und eine kommentierte Bibliographie über die Forschung in multikriterieller kombinatorischer Optimierung (MOCO, multiple objective combinatorial optimization). Wir stellen eine allgemeine Formulierung von MOCO Problemen vor, beschreiben die wichtigsten Charakteristika und Eigenschaften solcher Probleme und fassen die wesentlichen theoretischen Ergebnisse in diesem Forschungsgebiet zusammen. Die Hauptteile des Artikels sind die Abschnitte 4 über exakte und heuristsiche Lösungsverfahren und 6, der – problemweise untergliedert – die vorhandene Literatur kommentiert. Am Ende des Artikels steht ein Abschnitt zu offenen Fragen und Richtungen für zukünftige Forschung.
    Notes: Abstract. This paper provides a survey of the research in and an annotated bibliography of multiple objective combinatorial optimization, MOCO. We present a general formulation of MOCO problems, describe the main characteristics of MOCO problems, and review the main properties and theoretical results for these problems. The main parts of the paper are a section on the review of the available solution methodology, both exact and heuristic, and a section on the annotation of the existing literature in the field organized problem by problem. We conclude the paper by stating open questions and areas of future research.
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  • 105
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    OR spectrum 3 (1981), S. 1-20 
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Summary A focal point in the application of layout-planning methods lies in the planning of management and production in industrial companies. An enormous number of EDP-supported layout-planning systems have been developed for this purpose, the efficiency of which differs greatly from system to system. The purpose of this survey is to describe the present level of EDP-supported layout-planning. To that end, a general definition of the problem is given, and a record of the requirements for layout-planning in administration and production is being developed. The discussion of the present level of efficiency results from these requirement criteria. This survey closes with some points of emphasis that should be considered in future development projects.
    Notes: Zusammenfassung Ein Schwerpunkt in der Anwendung von Layoutplanungsverfahren liegt in der Planung von Verwaltung und Produktion in Industriebetrieben, wo Organisationseinheiten nach vorgegebenen Kriterien angeordnet werden müssen. Für dieses Anwendungsgebiet sind eine Fülle von EDV-unterstützten Layoutplanungs-Systemen entwickelt worden, deren Leistungen teilweise erheblich differieren. Das Ziel dieses Überblicks soll es sein, den gegenwärtigen Stand der EDV-unterstützten Layoutplanung darzustellen. Dazu wird eine allgemeingültige Formulierung der Problemstellung vorgenommen und ein Anforderungsprofil für die Layoutplanung in Verwaltung und Produktion entwickelt. Aufgrund dieser Anforderungskriterien erfolgt die Diskussion des gegenwärtigen Leistungsstandes. Schwerpunkte für zukünftige Entwicklungsarbeiten schließen diesen Überblick ab.
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  • 106
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    OR spectrum 3 (1981), S. 29-35 
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung In dieser Arbeit behandeln wir nichtkooperative nichtdiskontierte stochastische Zweipersonen-Nullsummenspiele mit endlichen Zustands- und Entscheidungsräumen. Dabei setzen wir voraus, daß ein Spieler das Übergangsverhalten steuert. Wir entwickeln ein lineares Programm und zeigen, daß eine Optimallösung dieses Programms den Spielwert und optimale stationäre Strategien für beide Spieler ergibt. Darüberhinaus liefert dieses lineare Programm einen Existenzbeweis für den Spielwert und für optimale stationäre Strategien für beide Spieler.
    Notes: Abstract This paper considers non-cooperative two-person zero-sum undiscounted stochastic games with finite state and action spaces. It is assumed that one player governs the transition rules. We give a linear programming algorithm and show, that an optimal solution to this program corresponds to the value of the game and to optimal stationary strategies for both players. Moreover, this linear programming formulation results in an existence proof of the value and of optimal stationary strategies for both players.
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  • 107
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    OR spectrum 3 (1981), S. 60-60 
    ISSN: 1436-6304
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    Topics: Mathematics , Economics
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  • 108
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    OR spectrum 3 (1981), S. 95-100 
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Abstract MARKAL is a linear programming model of the energy supply used by the International Energy Agency for a long term technology evaluation to save oil. As a multi-period model, it covers a planning period of 40 years for all important sectors and technical processes within the energy economy. The model applications to the energy supplies of most industrialized western countries justify a certain scepticism about the chances for a substantial oil saving in the future.
    Notes: Zusammenfassung MARKAL ist ein LP-Modell der Energieversorgung, mit dem für die Internationale Energieagentur Rechnungen zur langfristigen Technologiepolitik zur Öleinsparung durchgeführt werden. Als Mehrperiodenmodell deckt es einen Planungszeitraum von 40 Jahren ab und umfaßt alle wesentlichen Sektoren und Umwandlungsprozesse der Energiewirtschaft. Optimierungsrechnungen, die die Energieversorgung der wesentlichen westlichen Industriestaaten umfassen, zeigen unter anderem auf, daß die Chancen einer substantiellen Öleinsparung skeptisch zu beurteilen sind.
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  • 109
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    OR spectrum 3 (1981), S. 101-115 
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Summary Sampling methods taken for the yearly inventory can lead to important savings. Besides the statistical method the problems of application are discussed: The special organization of the company, the processing by EDP, the way to introduce the procedure etc. The paper is based on the original data of a company for electrical engineering. The sampling method for the inventory has been analysed since 1976; it is now used for the yearly inventory of nine stocks.
    Notes: Zusammenfassung Die Stichprobeninventur ist eine spezielle Form der Inventur, bei der nur ein geringer Teil des Vorratsvermögens körperlich aufgenommen werden muß. Sie bietet wesentliche Rationalisierungsmöglichkeiten gegenüber der herkömmlichen Vollinventur. Neben dem statistischen Verfahren wird über das organisatorische Umfeld, die EDV-mäßige Abwicklung, die Einführung und die Erfahrungen in einem Unternehmen der elektrotechnischen Industrie berichtet, in dem die Stichprobeninventur seit 1976 untersucht und inzwischen in neun Lagern eingesetzt wird.
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  • 110
    ISSN: 1436-6304
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    Topics: Mathematics , Economics
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  • 111
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    OR spectrum 3 (1981), S. 161-174 
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Summary SIMIPOC constitutes an application-oriented synthesis of the pattern recognition model SIMIVEC and the personnel data model POC. By means of an interactive cluster analysis on basis of profile similarity it provides important information for personnel planning and even allows a situative, OR-supported prediction of individual success. In addition to specific aspects of the underlying theory, questions of acceptance are discussed.
    Notes: Zusammenfassung SIMIPOC stellt eine anwendungsorientierte Synthese aus dem Mustererkennungsansatz SIMIVEC und dem Personaldatenmodell POC dar. Es liefert mit Hilfe einer interaktiv im Bildschirmdialog durchzuführenden Vektorclusterung auf der Basis von Profilähnlichkeiten Hilfestellung bei verschiedenen Personalplanungsaufgaben bis hin zu einer situativen, OR-gestützten Eignungsprognose. Neben spezifischen Theorieaspekten werden auch Akzeptanzfragen diskutiert.
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  • 112
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    OR spectrum 3 (1981), S. 188-188 
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
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  • 113
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    OR spectrum 3 (1981), S. 189-190 
    ISSN: 1436-6304
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  • 114
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    OR spectrum 3 (1982), S. 193-198 
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Summary Using a concrete example two linear optimization models based on the following cutting stock problem are compared: A stock of rolls of a synthetic cloth has to be cut such that the sum of net returns and the value of the residual stock at the end of the planning period is maximized. Since a limited number of cutting patterns is heuristically choosen the first model yields sub-optimal solutions only. On the contrary, the second model usesall relevant cutting patterns and provides an optimal solution.
    Notes: Zusammenfassung An einem realen Beispiel werden zwei lineare Optimierungsmodelle verglichen, denen folgendes Dispositionsproblem zugrunde liegt: Ein Ausgangsprodukt ist durch Verschnitte so weiter zu verarbeiten, daß die Summe aus Nettoerlösen und bewerteten Restbeständen auf Lager maximal wird. Das erste Modell liefert aufgrund einer beschränkten Anzahl heuristisch vorgegebener Schnittmuster i. a. nur suboptimale Lösungen. Das zweite, verbesserte Modell berücksichtigt im Gegensatz dazualle sinnvollen Schnittmuster und führt zu einer optimalen Lösung.
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  • 115
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    OR spectrum 3 (1982), S. 225-231 
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung In diesem Artikel werden Flußprobleme in Netzwerken betrachtet, in denen jedem Pfeil neben der Kapazität auch fixe Kosten zugeordnet werden. Diese Kosten fallen an, sobald ein Fluß größer Null durch den Pfeil fließt. Zielsetzung ist die Maximierung des Netzflusses unter der Bedingung, daß ein gegebenes Budget nicht überschritten wird. Einige Anwendungen dieses Problems werden aufgezeigt und eine Strukturanalyse wird durchgeführt, anschließend wird ein Approximationsalgorithmus entwickelt. In einer kleinen Testreihe werden die Lösungen dieses Algorithmus' mit den exakten Lösungen verglichen.
    Notes: Summary Network flow problems are considered in which in addition to the capacities fixed costs are assigned to each arc which are incurred as soon as any positive flow is sent through that arc. It is the objective to maximize the flow so that the fixed costs do not exceed a given budget. Some applications of this problem are described and a structural analysis is performed. In addition to that an approximation algorithm is developed and its results are compared to the exact solutions in a small test series.
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  • 116
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    OR spectrum 3 (1982), S. 245-245 
    ISSN: 1436-6304
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    Topics: Mathematics , Economics
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  • 117
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    Topics: Mathematics , Economics
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  • 118
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Summary Efficiency considerations in the field of health become more and more urgent. This paper deals with the problem of determining the optimal size, organizational form and input structure of a general practice in dependence on the number of patients to be provided for. As solution approach a linear output oriented production model with the possibilities of choosing different production processes will be discussed. Subsequently the methodical considerations will be applied to a consulting practice of ophthalmology, and the results are exposed.
    Notes: Zusammenfassung Wirtschaftlichkeitsüberlegungen im Gesundheitssektor werden immer dringlicher. Der vorliegende Beitrag befaßt sich mit dem Problem der optimalen Betriebsgröße, Organisationsform und Inputstruktur einer Arztpraxis in Abhängigkeit der Größe des zu versorgenden Patientenstammes. Als Lösungsansatz wird ein lineares output-orientiertes Produktionsmodell mit verschiedenen Verfahrenswahlmöglichkeiten diskutiert. Die methodischen Überlegungen werden anschließend auf eine Facharztpraxis für Augenheilkunde angewendet und die Ergebnisse dargelegt.
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  • 119
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    OR spectrum 4 (1982), S. 52-52 
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  • 120
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    OR spectrum 4 (1982), S. 47-51 
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Für das WartemodellE k /D/r wird über die „steady state Gleichungen“ die erzeugende Funktion der Verteilung der Warte Schlangenlänge hergeleitet. Die mittlere Zahl der Einheiten im System und verwandte Größen werden in geschlossener Form mit Hilfe der Wurzeln einer transzendenten Gleichung dargestellt. Diese Wurzeln können leicht mit numerischen Standard-verfahren bestimmt werden. Ein Algorithmus zur Bestimmung der stationären Verteilung der Zahl der Einheiten im System wird entwickelt. Numerische Ergebnisse für die mittleren Wartezeiten werden fürk=2,r=1, 2, ..., 10, und variable Verkehrsintensität angegeben.
    Notes: Summary In this paper we study theE k /D/r queueing system. The steady state equations are derived and the queue lenth probability generating function is determined. The average number of customers in the system and other related quantities are determined in closed form in terms of the roots of an equation, which can be easily obtained by standard numerical techniques. Also a computational procedure for evaluating the steady state probability distribution of the number of customers in the system is developed. Numerical results of the average queueing times are given fork=2,r=1, 2, ..., 10 and the whole range of utilization factors.
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  • 121
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    OR spectrum 4 (1982), S. 79-89 
    ISSN: 1436-6304
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    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Wir betrachten ein periodisch kontrolliertes dynamisches Mehrprodukt-Lagerhaltungsmodell mit stochastischem Bedarf, bei dem sich die Bestellkosten aus einem linearen und einem nichtlinearen Anteil zusammensetzen. Der nichtlineare Anteil kann z. B. davon abhängen, welche Produkte bestellt werden. Es wird die Existenz einer optimalen Bestellpolitik gezeigt. Außerdem werden Eigenschaften einer solchen Politik nachgewiesen. Wir zeigen, daß bei Spezialisierung der nichtlinearen Bestellkosten eine optimale Politik eine (σ, S)-Politik ist. Die Ergebnisse beziehen sich auf den endlichen Planungshorizont.
    Notes: Summary We consider a period review, dynamic multiproduct inventory model with stochastic demand, in which the cost of ordering consists of linear portions for each product as well as a nonlinear term. This nonlinear term depends for example, on the products we order. We prove the existence of an optimal policy and characterize such a policy. We show that an optimal policy reduces to the well-known (σ, S)-policy, if we spezialise the nonlinear ordering cost in a proper way. Finite horizon results are given.
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  • 122
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    OR spectrum 4 (1982), S. 105-112 
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    Description / Table of Contents: Summary The paper has two purposes. First, it is shown that for many cases of practical interest the optimal selection of the depreciation method can be made independently from the selection of the financing-mix. Second, a mixed-integer linear programming for a simplified dynamic version of the problem is developed for the determination of the optimal financing-mix and — if necessary — the simultaneous selection of the depreciation method.
    Notes: Zusammenfassung Dieser Artikel verfolgt zwei Absichten: zum einen wird gezeigt, daß in bestimmten Fällen die Wahl der optimalen Abschreibungsmethode für Ein- und Zweifamilienhäuser unabhängig von der Festlegung des Finanzierungsmixes erfolgen kann, zum zweiten wird ein dynamisches gemischt-ganzzahliges lineares Programm vorgestellt, welches den Finanzierungsmix optimiert unter gleichzeitiger Festlegung der Abschreibungsmethode.
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    OR spectrum 4 (1982), S. 129-134 
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    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Minimale Kostenflußprobleme mit nichtlinearen parametrischen Bewertungsfunktionenc(t) T x mitt aus dem Intervall [t min,t max] werden untersucht. Es wird eine endliche Folge zuläs siger Basen (B k ¦k =1, 2,...,r) bestimmt, die inI k := [t k , tk+1] optimal sind (k=1, 2, ...,r;t min=t 1 〈t 2 〈 ... 〈t r+1=t max). Die Teilintervalle Ik werden durch die Berechnung von Nullstellen bestimmter nichtlinearer Funktionen ermittelt. Numerische Ergebnisse werden für den Spezialfall polynomialer parametrischer Kostenfunktionen diskutiert.
    Notes: Summary Minimal cost network flow problems with nonlinear parametric objective functionsc(t) T x fortε[t min,t max] are studied. A finite sequence of feasible bases (B k ¦k =1, 2, ...,r) optimal in [t k , tk+1] fork=1, 2,...,r witht min=t 1〈t 2〈...〈t r+1=t max is determined using the zeroes of a set of nonlinear functions. Computional experience is discussed in the special case of polynomial parametric objective functions.
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    OR spectrum 6 (1984), S. 52-52 
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  • 125
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    OR spectrum 6 (1984), S. 53-57 
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    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Der Zustand eines Systems werde bis zu seinem Ausfall durch einen Markov Prozeß beschrieben. Eine vorsorgliche Wartungserneuerung kann zu einer Stoppzeit durchgeführt werden. Ist die Ausfallrate nicht monoton, so wird die optimale Erneuerungsstrategie nach dem Durchschnittskostenprinzip i. a. keine “control limit rule” sein. Es werden Bedingungen angegeben, unter denen eine optimale Politik bestimmt werden kann.
    Notes: Summary The state of a system, which is subject to random failure, is described by a Markov process. Preventive replacements are possible at any stopping time. If the failure rate is not a monotone function, the optimal replacement policy that minimizes long run cost per unit time is in general no control limit rule. Conditions are given, under which the optimal policy can be determined.
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    OR spectrum 6 (1984), S. 85-91 
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    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Summary Most of the raw material feed for a lead smelter is purchased from outside. These raw materials have a wide bracket of both kind and composition and are used in the various stages of the production process. Owing to the many material circuits, raw material evaluation, aiming at an optimized operating result, is only possible by means of operations research methods. A linear programming model has been developed, comprising both the conditions for costs and proceeds and all technical relations. Besides the calculation of optimum supply and mixing schedules, the model also permits to take decisions regarding any improvements of process engineering.
    Notes: Zusammenfassung Eine Bleihütte wird vorwiegend mit gekauften Vorstoffen versorgt, die sich erheblich nach Art und Zusammensetzung unterscheiden und in verschiedenen Produktionsstufen eingesetzt werden. Die Vorstoffbewertung mit dem Ziel eines optimalen Betriebsergebnisses ist wegen der umfangreichen Materialkreisläufe nur durch Anwendung von OR-Verfahren möglich. Es wurde ein Linear-Programming-Modell entwickelt, das die Bedingungen zur Ermittlung von Kosten und Erlösen sowie alle technischen Zusammenhänge umfaßt. Das Modell ermöglicht neben der Berechnung optimaler Beschaffungs- und Mischungspläne auch Entscheidungen über Verbesserungen der Verfahrenstechnik.
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    OR spectrum 6 (1984), S. 118-118 
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    OR spectrum 6 (1984), S. 125-130 
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    OR spectrum 6 (1984), S. 133-140 
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    OR spectrum 6 (1984), S. 161-165 
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    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Ein allgemeiner Rahmen wird gegeben, in dem man Kriterien zur Modellauswahl herleiten kann. Zuerst werden Bedingungen angeführt, unter denen man die asymptotische Verteilung von Minimum-Diskrepanz-Schätzern angeben kann. Mit den Resultaten wird dann eine Annäherung an die erwartete Gesamtdiskrepanz berechnet. Schätzer dieser Erwartung, also Kriterien zur Modellauswahl, werden vorgeschlagen.
    Notes: Summary A general frame is given in which model selection criteria can be derived. At first conditions are stated under which the asymptotic distribution of minimum discrepancy estimators can be given. The results are used to derive an approximation to the expected discrepancy. Estimators of this expectation, i.e. model selection criteria, are proposed.
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    OR spectrum 6 (1984), S. 187-190 
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    OR spectrum 6 (1984), S. 191-191 
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    OR spectrum 6 (1984), S. 193-194 
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    OR spectrum 6 (1984), S. 93-107 
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    Description / Table of Contents: Summary The paper studies the optimal intertemporal price and employment policy for a profit-maximizing firm. In addition to production costs, the firm has to bear inventory costs and labour adjustment costs (recruitment and firing costs). The framework is a nonlinear optimal control model with two state variables (inventory stock and employment level) and a pure state constraint (nonnegativity of the inventory). By using the computer program COLSYS, a numerical phase portrait analysis is carried out providing insight in the structure of the optimal recruitment, firing and price strategies in dependence of the firm's initial endowment.
    Notes: Zusammenfassung Der Beitrag untersucht die optimale intertemporale Preis- und Beschäftigungspolitik einer profitmaximierenden Firma, die zusätzlich zu den Produktionskosten Lagerhaltungskosten und Anpassungskosten für die Arbeitskräfte (Rekrutierungs- und Entlassungskosten) zu tragen hat. Unterstellt wird dabei ein nichtlineares Kontrollmodell mit zwei Zustandsvariablen (Lagerbestand und Arbeitskräfte) und einer reinen Zustandsnebenbedingung (Nichtnegativität des Lagers). Eine numerische Ermittlung der Phasenporträts mittels des Programmpaketes COLSYS liefert Einsichten in die Struktur der optimalen Rekrutierungs-, Entlassuns- und Preisstrategien in Abhängigkeit von der Anfangsausstattung der Firma.
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  • 136
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    Keywords: Schlüsselwörter: Conjoint-Analyse – Produktgestaltung – Produkt(linien)wettbewerb – Spieltheorie ; Key words: Conjoint analysis – Product design – Product (line) competition – Game theory
    Source: Springer Online Journal Archives 1860-2000
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    Description / Table of Contents: Abstract. Our analysis starts from segment-specific conjoint models of the conditional MNL type. Hitherto contributions deriving competitive equilibria that are based on conjoint models are limited to the single product case (e.g., Choi and DeSarbo, 1993; Green and Krieger, 1997). Here not only the single product problem (i.e., one product per firm), but also product line competition is dealt with. Problems studied comprise existence and uniqueness of simultaneous position-price-equilibria, existence of inefficient equilibria and degree of differentiation between products of different firms.
    Notes: Zusammenfassung. Ausgangspunkt unserer Untersuchungen zur Conjointanalyse-basierten wettbewerbsorientierten Produktgestaltung bilden segmentspezifische konditionale MNL-Modelle. Bisher auf diesem Gebiet entwickelte Ansätze, die sich mit der Bestimmung von Marktgleichgewichten befassen, beschränken sich ausschließlich auf den Single-Produkt-Fall (z.B. Choi u. DeSarbo, 1993; Green u. Krieger, 1997). Unser Beitrag setzt sich ebenfalls mit dem Single-Produkt-Fall (d.h. ein Produkt je Anbieter) auseinander, behandelt darüber hinaus erstmals aber auch den Wettbewerb mit Produktlinien. Gegenstand der Untersuchungen sind insbesondere die Existenz und Eindeutigkeit simultaner Positions-Preis- Gleichgewichte, die Existenz ineffizienter Marktgleichgewichte sowie der Differenzierungsgrad zwischen Konkurrenzprodukten.
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    OR spectrum 22 (2000), S. 197-202 
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    OR spectrum 22 (2000), S. 239-261 
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    Keywords: Schlüsselwörter: Transport – Container – Containerladeproblem – Heuristik – Dreidimensionales Bin Packing-Problem – Dreidimensionales multiples Knapsack-Problem ; Key words:Transportation – Container – Container loading problem – Heuristic – Three-dimensional Bin packing problem – Three-dimensional multiple knapsack problem
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    Description / Table of Contents: Abstract. The paper presents a heuristic for multiple container loading problems. The method is suited for three-dimensional bin packing problems and for three-dimensional knapsack problems as well. In order to select containers to be loaded and boxes to be packed into a chosen container in an appropriate manner the approach includes several selection strategies. A single container is filled by means of an optional procedure that is to be integrated into the overall algorithm. The performance of the heuristic is demonstrated by a numerical comparison with several methods suggested by other authors.
    Notes: Zusammenfassung. Der Beitrag stellt eine Heuristik für Multiple Containerladeprobleme (MCLP), d.h. Containerladeprobleme mit mehreren Containern, vor. Mit der Heuristik können sowohl dreidimensionale Bin Packing-Probleme wie auch dreidimensionale multiple Knapsackprobleme näherungsweise gelöst werden. Die Heuristik kooperiert bei der Erzeugung von Lösungen für MCLP mit einem frei wählbaren Verfahren für Eincontainerprobleme. Die bei MCLP zusätzlich auftretenden Freiheitsgrade bei der Güterverstauung werden durch den kombinierten Einsatz verschiedener Container- und Kistenauswahlstrategien berücksichtigt. Die Performance der Heuristik wird anhand eines Vergleichstests geprüft, der mehrere in der Literatur vorgestellte Verfahren für MCLP einschließt.
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    OR spectrum 22 (2000), S. 307-312 
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    OR spectrum 22 (2000), S. 313-345 
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    Keywords: Key words: Manufacturing Planning and Control – Architecture of PPC systems – Algorithms ; Schlüsselwörter: Produktionsplanung und -steuerung – Architekturen von PPS-Systemen – Algorithmen
    Source: Springer Online Journal Archives 1860-2000
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    Description / Table of Contents: Zusammenfassung. In dieser Arbeit betrachten wir einige bekannte Systeme und Modelle der Produktionsplanung und -steuerung (PPS) und stellen ihre jeweiligen Vor- und Nachteile heraus. Die Analyse zeigt, daß verschiedene in der Industrie anzutreffende Planungs- und Steuerungsprobleme von den gegenwärtigen PPS-Systemen nur unzureichend unterstützt werden. Um diese Planungsprobleme eingehender zu erläutern, wird auf eine bekannte Typologie von Produktionssystemen sowie auf Beispiele aus der Industrie zurückgegriffen. Daran anschließend wird eine grundlegende Architektur von Planungs- und Steuerungssystemen sowohl für lager- als auch für auftragsorientierte Produktionssysteme vorgestellt. Der Schwerpunkt liegt hierbei auf der Integration technologischer und logistischer Planungsaspekte sowie auf der Integration von kapazitäts und materialflußorientierten Gesichtspunkten. Darüber hinaus wird das Grundkonzept eines Algorithmus entwickelt, der insbesondere den letztgenannten Integrationsaspekt berücksichtigt. Die vorgeschlagene Systemarchitektur wird durch eine Reihe von Verfahren und Algorithmen zur praktischen Umsetzung einzelner Systemmodule ergänzt.
    Notes: Abstract. In this paper, we review some well-known manufacturing planning and control (MPC) systems and models, and highlight both their advantages and major drawbacks. The analysis indicates that various important planning and control problems, as they arise in industry, are not properly addressed by current MPC systems. A well-known production system typology, illustrated by industrial examples, is briefly discussed to further highlight these planning and control problems. Next, we define a basic framework architecture for planning and control in both make-to-stock and make-to-order systems. The emphasis in this framework is on an integration of technological and logistics planning, and on an integration of capacity planning and materials coordination issues. In addition to this architecture, we further define an algorithmic framework that explicitly aims at the latter integration. To complete the architecture, we suggest a variety of procedures and algorithms to implement in the various modules.
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    Keywords: Schlüsselwörter: Clusteranalyse – Dynamische Fuzzy-Datenanalyse – Szenarioanalyse ; Key words: Cluster analysis – Dynamic fuzzy data analysis – Scenario analysis
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    Topics: Mathematics , Economics
    Description / Table of Contents: Abstract. One goal of scenario analysis is to investigate possible future developments. In order to cover almost all alternatives it is desirable to analyze as many different scenarios as possible. On the other hand the complexity of the analysis grows as the number of scenarios increases. This often limits the number of scenarios considered. At this point dynamic fuzzy data analysis can be used. It offers methods to cluster objects (i.e. scenarios) which are represented by trajectories over time, therefore reducing complexity by extracting a small set of typical scenarios out of a large set of possible scenarios. Thereafter these typical scenarios can be interpreted by an expert. This paper describes such a dynamic fuzzy data analysis method and describes how it can be used in scenario analysis.
    Notes: Zusammenfassung. Ein Ziel der Szenarioanalyse ist die Vorwegnahme möglicher zukünftiger Entwicklungen. Hierbei möchte man einerseits viele Szenarien betrachten, um möglichst alle Alternativen für die Zukunft zu erfassen. Andererseits steigt mit der Anzahl betrachteter Szenarien auch die Komplexität der Analyse, insbesondere bei der Extraktion typischer Szenarien aus der Menge aller betrachteten Szenarien, so dass oft nur relativ wenige Szenarien untersucht werden. An dieser Stelle bietet die dynamische Fuzzy-Datenanalyse Hilfe. Sie ermöglicht die Clusterung von Objekten (hier: Szenarien), die durch (zeitliche) Trajektorien beschrieben sind. Durch diese Clusterung kann eine große Menge von Szenarien auf eine kleine Menge typischer Szenarien reduziert werden, welche dann zur weiteren Interpretation durch Experten zur Verfügung stehen. Dieser Artikel beschreibt ein solches dynamisches Fuzzy-Clusterverfahren, und zeigt, wie es in der Szenarioanalyse eingesetzt werden kann.
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    OR spectrum 3 (1981), S. 21-28 
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    Description / Table of Contents: Summary In this paper by the means of duality-correspondences it is proved that the optimal value of the linear and linear-convex program is a lower semi-continuous function of the data (i.e. the matrix, the right side and the objective function), if the rank of certain matrices is constant. No conditions about boundedness or compactness of the constrained set and the set of optimal solutions are needed. It follows for a wide class of linear programs easily, that the set of optimal solutions depends continuously on the data.
    Notes: Zusammenfassung In dieser Arbeit wird für das lineare und linear-konvexe Optimierungsproblem mit Hilfe von Dualitätsbeziehungen nachgewiesen, daß der Minimalwert eine unterhalbstetige Funktion der Anfangsdaten (der Matrix, der „rechten Seite“ und der Zielfunktion) ist, sofern der Rang gewisser Matrizen konstant bleibt. Dabei sind Voraussetzungen über die Beschränktheit bzw. Kompaktheit der Restriktions- oder Optimalmengen nicht nötig. Aus diesem Ergebnis folgt für eine große Klasse von linearen Problemen leicht die stetige Abhängigkeit der Minimalmenge von den Anfangsdaten.
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    OR spectrum 22 (2000), S. 525-543 
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    Keywords: Key words: Approximate equity index replication – Linear regression – Robust estimation – Non-linear estimation – Tracking error ; Schlüsselwörter: Performance-Index – Näherungsweise Aktienindex-Nachbildung – Lineare Regression – Robuste Schätzverfahren
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    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Ein Performance-Index wie der DAX kann nicht durch zeitkonstante Gewichtung von Kursen dargestellt werden. Dasselbe gilt für bereinigte Kurse, falls der Beobachtungszeitraum mindestens einen Verkettungstermin umfasst. Analoge (negative) Aussagen gelten auch für diskrete Index- bzw. Aktienrenditen. Gänzlich unmöglich wird eine lineare Darstellung bei Verwendung von stetigen Renditen. Im ersten Teil der Arbeit wird aufgezeigt, daß sich diese Probleme bei Regressionsmodellen zur näherungsweisen Nachbildung des DAX in Verletzungen der Prämissen des klassischen Regressionsmodells niederschlagen. Der zweite Teil enthält einen empirischen Vergleich verschiedener Tracking-Prozeduren: naive Gleichgewichtung, Kleinst-Quadrate-Schätzung und robuste Schätzung.
    Notes: Abstract. Approximate equity index replication, based on a linear regression setting, is critically reviewed. It is shown that tracking a performance index like the German DAX necessarily leads to violations of basic assumptions of the classical regression model. Violations occur even if the model is formulated in terms of stock price levels. When the model is based on discretely or continuously compounded returns the situation is more critical. Due to these violations, the optimality properties of the regression estimators are generally weak. In the time series context, outliers in financial time series may additionally affect the standard least squares estimator. Despite of these critical points, it is argued that regression techniques may still provide a useful tool for index replication. With respect to outliers, robust estimators can potentially provide an alternative to least squares. Hence, apart from least squares, a non-redescending and a redescending robust estimator is fitted. The empirical results for the DAX are obtained with a subset portfolio containing the most heavily weighted index members. Compared to a naive weighting scheme, the results document that least squares estimation highly improves out-of-sample replication performance. Typically, the use of robust estimators does not show replication improvements. However, when substantial market movements are present in the sample, superior replication can be obtained.
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    OR spectrum 3 (1981), S. 37-47 
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    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung In dieser Arbeit werden die Möglichkeiten untersucht, den Energiebedarf der westlichen Welt auf der Basis der heute eingesetzten Primärenergieformen Öl-, Gas-, Kohle-, Kern-, Hydro- und geothermische Energien zu decken. Hierzu wird die Nachfrageseite in 4, die Angebotsseite in 5 Regionen aufgeteilt. Als Planungszeitraum wird die Zeitspanne von 1973–2000, unterteilt in 16 Perioden, gewählt. In jeder Periode werden auf der Basis der aktuellen Kapazitätsausstattung der Produzenten und Verbraucher mit Hilfe eines LP-Modells für jede Region Preisgleichgewichte für Primärenergien und Endprodukte zusammen mit den optimalen Angebots- und Nachfragemengen ermittelt. Diese Ergebnisse bestimmen zusammen mit mehreren exogenen Variablen die Kapazitätsausstattungen der Produzenten und Konsumenten für die folgende Periode und die Eingabedaten für den nächsten Optimierungsschritt.
    Notes: Summary This paper describes the competition between oil, gas, coal, nuclear, hydro and geothermal energy, using today's technologies to satisfy Western world demand. This world is divided into 4 regions. The 1973–2000 time interval is broken down into 16 periods. At each period, producer and consumer equipments serve as constraints of a LP model which optimizes supply and demand in each region. The resulting equilibrium prices of primary resources and end-products induce modifications in the producer and consumer equipments of the following periods and the optimization process begins again.
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    OR spectrum 3 (1981), S. 61-61 
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    OR spectrum 3 (1981), S. 65-90 
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    Description / Table of Contents: Summary The paper describes the application of numerical methods and OR models in the design, implementation and control of hardware configurations, computer networks and software projects for the use of data processing managers. Besides well known models like queuing network models of computer systems or the round robin model for time sharing systems models for actual questions like accounting and price policy, program and file allocation, software reliability or data security budgeting are discussed.
    Notes: Zusammenfassung Der Aufsatz gibt eine Übersicht über quantitative Verfahren und OR-Modelle, die dem DV-Management für den Entwurf, die Entwicklung, die Einführung sowie die Steuerung und Kontrolle von Hardware-Konfigurationen, Computer-Verbundsystemen und Software-Projekten zur Verfügung stehen. Neben den seit langem bekannten Warteschlangen-Modellen für den Betrieb der Hardware, beispielsweise dem Round Robin Modell für Time Sharing-Systeme, werden Modelle für aktuelle Fragen des DV-Managements wie Kostenverrechnung und Preispolitik für DV-Leistungen, optimale Programm- und Datenorganisation, Software-Zuverlässigkeit oder Wirtschaftlichkeit von Datensicherungsmaßnahmen zur Diskussion gestellt.
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    OR spectrum 3 (1981), S. 116-116 
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    OR spectrum 3 (1981), S. 116-117 
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    OR spectrum 3 (1981), S. 145-152 
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    Description / Table of Contents: Zusammenfassung In dieser Arbeit betrachten wir mehrere Varianten der Methode der sukzessiven Approximation bei (semi-) Markoffschen Enscheidungsprozessen mit unbeschränkten Erträgen. Wessels und van Nunen haben gezeigt, daß man eine Klasse von Verfahren mit Hilfe von randomisierten Stoppzeiten erzeugen kann, wobei die Wahrscheinlichkeit, den Prozeß zur Zeitn zu stoppen, unabhängig von den Aktionen bis zur Zeitn ist. In der vorliegenden Arbeit dürfen die Stoppzeiten von den Aktionen und den Zuständen abhängen. Dadurch ist es möglich, die Klasse der Lösungsverfahren so zu erweitern, daß Eigenschaften der Erträge und der Übergangsstruktur, die von den Aktionen abhängen, bei der Entwicklung von Verfahren der sukzessiven Approximation berücksichtigt werden können. Für eine spezielle aktions-abhängige Stoppzeit besitzt der zugehörige Algorithmus die sogenannte “equal-row-sum” Eigenschaft, die beispielsweise Anwendung findet bei der Transformation eines semi-markoffschen Entscheidungsprozesses in einen gewöhnlichen Markoffschen Entscheidungsprozeß. Darüberhinaus gestattet die equal-row-sum Eigenschaft die Konstruktion guter unterer und oberer Schranken der Wertfunktion, sowie die Elimination nicht optimaler Aktionen.
    Notes: Summary In this paper we consider several variants of the standard successive-approximation method for (semi) Markov decision processes with unbounded rewards. Wessels and van Nunen have shown that a class of variants can be generated by randomized stopping times, where the probability of “stopping” the process at timen is independent of the actions taken up to timen. In this paper we allow the stopping time to depend on the actions as well as the states. This makes it possible to extend the class of solution techniques in such a way that properties of the reward and transition structure depending on the actions can be exploited in the development of appropriate successive-approximation methods. For a special actions-dependent stopping time the corresponding algorithm possesses the so-called “equal-row-sum” property, which can be used, for example, to transform semi-Markov decision processes into ordinary Markov decision processes. Moreover, the equal-row-sum transformation allows for good extrapolation to upper and lower bounds and elimination of non-optimal actions.
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    OR spectrum 3 (1981), S. 175-186 
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    Topics: Mathematics , Economics
    Description / Table of Contents: Summary Calculating the net interest of bonds with fixed rate of interest is usually done by approximation. With the definition of “net interest” in mind, a method of determining the exact value by iteration with proven good convergence is described in this paper. Beginning with the simple case of a bond with a single date of maturity, payment of interest once a year and a running period of an integer number of years, the examination is extended to cover more than one payments of interest a year, non integer number of years until maturity and the particulars of serial bonds. The commonly used approximations are used because of their simple application, but it is shown that these sometimes cause markable errors. Therefore it is recommended to use the described alternative approximation with much less deviation.
    Notes: Zusammenfassung Die Effektivverzinsung festverzinslicher Wertpapiere wird üblicherweise über Näherungsformeln ermittelt. Ausgehend von der Definition der Effektivverzinsung werden hier exakte Iterationsbeziehungen abgeleitet unter dem Aspekt guten Konvergenzverhaltens, das nachgewiesen wird. Aufbauend auf dem einfachen Fall einer gesamtfälligen Anleihe mit ganzjähriger Laufzeit und einmaliger Zinszahlung pro Jahr werden auch mehrere Zinszahlungen pro Jahr, in Zinsperioden nicht ganzzahlige Laufzeiten und Besonderheiten bei Serien-Anleihen einbezogen. Für die wegen der einfachen Handhabung sehr verbreiteten Näherungsformeln werden die Fehler betrachtet mit dem Ergebnis, daß diese einen nennenswerten Umfang annehmen können. Daraus resultiert der Vorschlag einer anderen Näherungsformel mit erheblich geringeren Fehlern.
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    OR spectrum 3 (1981), S. 190-192 
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    OR spectrum 3 (1982), S. 205-219 
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    Topics: Mathematics , Economics
    Description / Table of Contents: Summary In this article a mode of inventory taking is presented, which connects the system of perpetual inventory taking with sampling methods. Details of this mode are analyzed and a precise and economic procedure is developed. For special mathematical problems occurring with modifications of the sample solutions are presented.
    Notes: Zusammenfassung Es wird eine Inventurform behandelt, die das System der permanenten Inventur mit dem Verfahren der stichprobenartigen Erfassung verbindet. Details dieser Inventurform werden analysiert und ein korrektes und wirtschaftliches Vorgehen wird entwickelt. Für spezielle bei einer Stichprobenmodifikation auftretende mathematische Probleme werden Lösungen vorgestellt.
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    OR spectrum 3 (1982), S. 244-244 
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    OR spectrum 3 (1982), S. 233-237 
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    Description / Table of Contents: Summary Subject of this paper is the determination of a distance function defined on the set of observed characteristics of objects (individuals, goods, enterprises etc.). In contrast to the usual approach, where a dissimilarity coefficient exhibiting some more or less desirable properties is chosen, at first conditions to be met by the dissimilarity coefficient are set. Then the class of dissimilarity coefficients that meets these conditions is determined. It is shown, that four such conditions imply the weighted Lr-metric.
    Notes: Zusammenfassung Gegenstand dieses Beitrages ist die Ermittlung von Distanzindizes, die als Maß für die Ähnlichkeit von durch quantitative Merkmalsausprägungen charakterisierbaren Objekten verwandt werden können. Im Gegensatz zu dem üblichen Vorgehen, bei dem ein Distanzindex gewählt wird, der mehr oder weniger wünschenswerte Eigenschaften besitzt, werden zunächst Bedingungen formuliert, die als sinnvoll für den gesuchten Distanzindex angesehen werden. Anschließend wird die Klasse derjenigen Distanzindizes ermittelt, die diesen Bedingungen genügt. Es wird gezeigt, daß die Forderung von vier derartigen Bedingungen die gewichtete Lr-Distanz impliziert.
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    OR spectrum 3 (1982), S. 246-246 
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    OR spectrum 4 (1982), S. 1-14 
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    Description / Table of Contents: Zusammenfassung Dieses Manuskript gibt einen Über-blick über den Stand der Forschung zur Anwendung der Kontrolltheorie bei der Analyse der Unternehmens-dynamik. Drei Modellarten werden betrachtet: ein Unternehmen in einer gewissen Umwelt, ein Unternehmen in einer stochastischen Umwelt mit der Möglichkeit des Bankrotts und Modelle, bei denen das Unternehmen in Konkurrenz zu einem anderen steht. Trotz der Grenzen dieser kontrolltheoretischen Modelle sind sie nützlich bei der Verbesserung des Verständnisses von bedeutenden mikroökonomischen Phänomena und wenn man Studenten oder Jungmanagern erklären will, wie man Politiken im Verlauf der Zeit kombiniert um eine wirksame Strategie zu entwickeln.
    Notes: Summary This paper gives an overview to the state-of-art of applying control theory to the analysis of the dynamics of the firm. Three types of models are considered: one firm facing a certain environment, one firm facing a stochastic environment and with a risk of bankruptcy, and models of duopolies. In spite of the limits of these control theory models, they are useful to improve the understanding of important microeconomic phenomena and to explain to students or to junior managers how to combine policies through time to define an efficient strategy. An extended bibliography is given.
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    OR spectrum 4 (1982), S. 27-33 
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    Description / Table of Contents: Summary The author's thesis is that strategic decisions are usually madeoutside the formal strategic planning process, and that the latter largely consolidates at the corporate level the strategic decisions already made at lower levels. Hence there is little scope for quantitative decision models in this process, but considerable scope at the actual strategic decision making level. However, if the corporate process is changed to go beyond consolidation so that explicit choices from alternate corporate strategies are considered, an important new potential for quantitative modelling is opened up.
    Notes: Zusammenfassung Quantitative Modellierung möchte zur Entscheidungsfindung beitragen. Bevor untersucht wird, ob sie dies im strategischen Bereich tut, wird die Frage gestellt, ob die tatsächlichen strategischen Entscheidungen, die die Zukunft einer Unternehmung gestalten, innerhalb des formalen Prozesses der strategischen Unternehmensplanung fallen. Die Frage wird überwiegend verneint. Solange die Dinge so stehen, ist es nicht verwunderlich, daß quantitative Entscheidungsmodelle nichts beitragen können. Dagegen ist die modellgestützte Planung dort kräftig im Vordringen und hat in den letzten Jahren erheblich an Terrain gewonnen, wo derzeit die meisten strategischen Optionen getroffen werden, nämlich bei den fallweisen strategischen Entscheidungen in Teilbereichen, die später in den strategischen Plan der Unternehmung integriert werden. Doch finden sich auch erste fruchtbare Ansätze innerhalb der formalen strategischen Planung auf Unternehmensebene, nämlich dort, wo diese sich explizit mit Alternativstrategien beschäftigt. In dem Maße, in dem sich der formale Prozeß der strategischen Unternehmensplanung zu einem Entscheidungs-prozeß zwischen explizit zur Wahl gestellten Unternehmensstrategien entwickelt — eine Entwicklung, die bereits begonnen hat — wird sich der modellgestützten Planung auch auf der Unternehmensebene ein weites Feld eröffnen.
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    OR spectrum 4 (1982), S. 53-54 
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    OR spectrum 4 (1982), S. 63-77 
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    Description / Table of Contents: Summary The paper gives a survey of stock holding models being employed in practice. In particular it stresses the whole process which leads to a selection of a special model. Main attention is given to a discussion of the value of cost parameters and safety stocks.
    Notes: Zusammenfassung Die Arbeit gibt einen Überblick über die in der Praxis verwandten Lagerhaltungsmodelle und arbeitet besonders den gesamten Prozeß heraus, der zum Einsatz eines bestimmten Modells führt. Besonderer Wert wird dabei auf die Diskussion der zu verwendenden Kostenparameter und Sicherheitsbestände gelegt.
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    OR spectrum 4 (1982), S. 91-104 
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    Description / Table of Contents: Summary In this paper a 0/1 linear programming model is proposed to solve the following problem: Given a certain budget, which diagnostic strategies should be applied to which groups of a population in order to maximize the effectiveness of early detection of hypertension. The ideas underlying the LP-model originated in the critique of a method described in the literature. A simplified example of the model is solved and some remarks are made concerning data collection and computing time requirements. Also the problem of individual vs. collective effectiveness is briefly dealt with.
    Notes: Zusammenfassung Die vorliegende Arbeit entwickelt ein auf der linearen 0/1 Programmierung basierendes Verfahren zur gruppenspezifischen Auswahl von Diagnosestrategien bei beschränkten Ressourcen im Bereich der Hypertoniefrüherkennung. Ausgangspunkt ist dabei die Kritik an einer in der Literatur zu diesem Thema angegebenen Methode. Ein vereinfachtes Beispiel verdeutlicht die Ideen, die zur Entwicklung des LP-Modells geführt haben. Anschließend wird der Einfluß des zugrundeliegenden Kollektivnutzenkonzepts und des Gleichheitsprinzips auf das Modell diskutiert. Die Arbeit geht ferner auf Fragen bezüglich der benötigten Daten und des zu erwartenden Rechenaufwands ein.
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    OR spectrum 4 (1982), S. 117-117 
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    OR spectrum 4 (1982), S. 149-160 
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    Description / Table of Contents: Summary The main point of Personal Finance is the financing of proprietor's own used single-unit or doubleunit dwellings respectively owner-occupied apartments. In the following examination a mixed-integer programme for the determination of the optimum financing-mix for home construction is being developed shortly. By means of numeruous simulation tests the influence of varying capital resources of the home owner and the surplus resulting out of private life insurances upon the optimum financing structure is being analysed.
    Notes: Zusammenfassung Ein Schwerpunkt privater Finanzierungsprobleme ist die Finanzierung von Wohnungseigentum. In der folgenden Untersuchung wird zunächst ein gemischt-ganzzahliges Modell zur Ermittlung der optimalen Finanzierung von Ein- und Zweifamilienhäusern bzw. Eigentumswohnungen kurz beschrieben. Anhand zahlreicher Simulationsläufe wird der Einfluß der Variation des Eigenkapitaleinsatzes und der Überschußbeteiligung auf die optimale Finanzierungsstruktur analysiert.
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    OR spectrum 4 (1982), S. 191-191 
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    OR spectrum 4 (1982), S. 171-190 
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    Description / Table of Contents: Summary Optimal control theory treats the steering ofdynamical systems with the aim to reach a desired target. The problem of dynamic system optimization is to find the functions which will optimize a given objective functional subject to certain constraints. The purpose of the present paper is to provide an elementary approch to themaximum principle as well as to its economic interpretation. The calculation of optimal control trajectories is illustrated by some simple examples in cash management, production and investment planning, advertising and pricing, and science policy. Moreover, without claiming completeness some further applications of thedeterministic maximum principle in operations research are reviewed. The use of the maximum principle provides a significant advantage compared with dynamic programming, namely the possibility to gainqualitative insights into the structure of solution paths and thus to draw interesting economic conclusions without performing a complete analysis of the control problem.
    Notes: Zusammenfassung Die Kontrolltheorie beschäftigt sich mit der Steuerungdynamischer Systeme im Hinblick auf die Erreichung gewünschter Ziele. Das Problem der Optimierung dynamischer Systeme besteht darin, Funktionen zu finden, welche ein gegebenes Zielfunktional unter gewissen Nebenbedingungen optimieren. Zweck des vorliegenden Beitrages ist es, einen elementaren Zugang zumMaximumprinzip sowie dessen ökonomischer Interpretation zu bieten. Die Ermittlung optimaler Kontrolltrajektorien wird anhand einiger einfacher Beispiele illustriert (Kassenhaltung, Produktionsund Investitionsplanung, Werbe- und Preispolitik, Wissenschafts-Management). Ohne Vollständigkeit anzustreben, wird daneben eine Reihe weiterer Anwendungen desdeterministischen Maximumprinzips im Operations Research skizziert. Einen wesentlichen Vorteil, den das Maximumprinzip etwa im Vergleich zur dynamischen Programmierung aufweist, stellt die Möglichkeitqualitativer Einsichten in die Struktur der Lösungspfade dar, die häufig schon ohne komplette Lösung des Kontrollproblems zur Aufdeckung interessanter ökonomischer Zusammenhänge führen.
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    OR spectrum 4 (1982), S. 195-212 
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    OR spectrum 4 (1982), S. 245-245 
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    OR spectrum 4 (1982), S. 247-247 
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    OR spectrum 4 (1982), S. 246-246 
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    OR spectrum 5 (1983), S. 44-44 
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    OR spectrum 5 (1983), S. 58-59 
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    OR spectrum 5 (1983), S. 59-60 
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    OR spectrum 5 (1983), S. 76-76 
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    OR spectrum 5 (1983), S. 77-85 
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    Description / Table of Contents: Zusammenfassung Diese Arbeit befaßt sich mit einer Variante des Fahrzeugroutenproblems, bei der jeder zu besuchenden Stadt ein nichtnegatives Gewicht zugeordnet ist und bei der alle Fahrzeuge gleich sind und die gleiche KapazitätD haben. Das Problem wird als ganzzahliges lineares Programm formuliert: Ganzzahligkeit wird über ein Branch und Bound-Verfahren erreicht. Dabei werden die Kapazitätsbeschränkungen zunächst relaxiert und nur dann wieder einbezogen, wenn sie verletzt werden. Drei Varianten dieses Basisverfahrens werden untersucht. Exakte Lösungen werden für Probleme mit 15 bis 50 Städten erhalten.
    Notes: Summary This paper considers a version of the vehicle routing problem in which a non-negative weight is assigned to each city to be visited and where all vehicles are identical and have the same capacityD. The weight assigned to a vehicle on a given route may not exceed this capacity. The problem is formulated as an integer program: integrality is obtained by means of a branch and bound procedure; capacity constraints are first relaxed, and introduced only when they are found to be violated. Three variants of this basic algorithm are examined. Exact solutions are obtained for problems ranging from 15 to 50 cities.
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    Papers in regional science 79 (2000), S. 111-134 
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    Keywords: JEL classification: R11, R15, R30 ; Key words:Demography of the firm, regional economic growth, micro-simulation, firm formation, firm dissolution
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    Topics: Geography , Economics
    Notes: Abstract. Recently, there is an increasing demand in spatial planning for models based on the demographic concepts of birth and death of firms. This article describes the structure of a spatial demographic simulation model of firms, and its application within The Netherlands. The model structure is essentially of the familiar demographic cohort component type, where an initial cohort of firms ages in a number of discrete steps, and where in each step additions and subtractions to and from the population are modelled using birth, death and migration components. Apart from the central processes of birth, death and migration, the type of economic activity and firm size are highly important for understanding firm behaviour over time. The article describes the transition functions for each of the demographic components and for firm growth. In addition, some empirical results are presented of a number of model simulations in The Netherlands. The results were partly validated using observed economic demographic data. It is concluded that a substantial amount of work remains to be done in this new field. The model presented here has direct implications for the research agenda of the study of the demography of the firm.
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    Papers in regional science 79 (2000), S. 233-242 
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    Keywords: JEL classification: C67, D57, E17, R15 ; Key words: Input-output analysis, social accounting, model closure, expenditure lags, supply effects
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    Topics: Geography , Economics
    Notes: Abstract. Cole (1989, 1997, 1999) advocates the introduction of expenditure lags and the fullest possible closure of single-region input-output models. Jackson et al. (1997, 1999) claim that closing also with regard to the Rest-of-the-World leads to inconsistencies and zero exogenous demand, which makes impact studies impossible. Using somewhat different arguments I agree with them: endogenous interregional feedbacks are conceptually impossible outside a full interregional model. Two hardly discussed points, however, remain for further research. First, closing with regard to all other regional demand is precarious too, as it empirically and theoretically amplifies the one-sidedness of the demand-driven input-output model. Realistic impact studies ask for models including supply-side aspects. Second, adding expenditure lags is an improvement, but the way in which this can be done and should be done requires further theoretical development.
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    Keywords: JEL classification: D83, R10 ; Key words: Search, spatial search, spatial economics
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    Notes: Abstract. This is the second part of a two-part analysis of optimal spatial search begun in Harwitz et al. (1998). In the present article, two explicit computational procedures are developed for the optimal spatial search problem studied in Part I. The first uses reservation prices with continuous known distributions of prices and is illustrated for three stores. The second does not use reservation prices but assumes known discrete distributions. It is a numerical approximation to the first and also a tool for examining examples with larger numbers of stores.
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    Papers in regional science 79 (2000), S. 355-373 
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    Keywords: JEL classification: R12, C33 ; Key words: Firm formation, regions, panel data
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    Notes: Abstract. This article investigates regional variations in firm formation in Finland between 1989 and 1993, and estimates the effects of regional factors on firm formation utilising panel and cross-sectional data. Panel data evidence shows that the average size of firms and establishments in the subregions tends to explain firm formation in Finland most robustly. Cross-sectional results for Finland and several other countries tend to show that demand growth is also an important factor explaining regional firm formation. Panel data results appear to differ from the cross-sectional ones.
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    Papers in regional science 79 (2000), S. 393-411 
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    Keywords: JEL Classification: R11 ; Key words: Human capital, US states, gross regional product, growth accounting
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    Topics: Geography , Economics
    Notes: Abstract. This article analyzes the extent to which human capital differences can explain the differences in gross state product (GSP) per capita levels between the richer and poorer states of the US. It uses 1990 Census and Bureau of Economic Analysis data on educational attainment, wage levels of different segments of the labor force, and GSP to compare New York – our representative rich state – with the poorest third of the states. The findings indicate that human capital differences explain at least 49% of the observed difference in GSP per capita between New York and each of the poor states.
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    Economics of governance 1 (2000), S. 1-2 
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    Economics of governance 1 (2000), S. 53-76 
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    Keywords: Key words:Inflation targets, establishing credibility, precision of inflation control ; JEL classification:E5, E63
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    Topics: Economics
    Notes: Abstract. This paper develops a simple intertemporal model of inflation targets within a framework in which the public is uncertain about the dependability of policymakers, and in which policymakers do not perfectly control inflation. The framework is used to evaluate the effects of various parameters like the rate of time preference, initial reputation, and transparency (or precision of inflation control) on planned inflation, announced targets and the evolution of reputation and of inflationary expectations. The paper also shows that, when allowed to choose the precision of inflation control, more dependable policymakers will often choose relatively more precise control procedures. Implications for the type of inflation stabilization (cold turkey or gradual) chosen by dependable policymakers are also derived.
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    Empirical economics 25 (2000), S. 1-13 
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    Keywords: Key words: Expectations hypothesis, regime switching ; JEL classifications: C32, E43
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    Topics: Economics
    Notes: Abstract. Within a bivariate VAR model allowing for two-state Markov regime switching we test and evaluate the Expectations Theory (ET) of the term structure using Danish 1- and 3-months interest rates covering the period 1976–1997. A regime-shift approach is used in order to account for the change in monetary policy and the 1992–93 exchange rate crises that occured during this period. The basic findings are that these episodes did change the term structure, and, although we do find departures from the ET, several of the implications of the theory are consistent with the data, especially in the later part of the sample.
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    Empirical economics 25 (2000), S. 35-59 
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    Keywords: Key words: Macroeconomics, smoothing-by-aggregation, mismatch, approximation ; JEL classifications: E10, J60
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    Topics: Economics
    Notes: Abstract. This paper is devoted to the problem of aggregation in models with quantity constraints. The focus is on quantity rationing macroeconomic (QRM) models where the micromarket outcome can be written as the minimum of several variables and where the diversity of situations across micromarkets is explicitly recognized. The aggregation result given in this paper generalizes that of Lambert (1988) to employment functions with more than two components, and leads to approximate aggregate functions of the CES variety. The approximation used can accomodate general variance-covariance structures. Simulation experiments show that the approximation error remains within reasonable bounds (1–4%). It thus seems that the CES formulation can accomodate a large variety of situations. It remains in particular valid when the (restrictive) conditions required to obtain the CES function as an exact result (independently and identically distributed Weibull variables) are not satisfied.
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    Empirical economics 25 (2000), S. 149-168 
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    Keywords: Key words: Nominal convergence, unit root, cointegration, time-varying parameters ; JEL classifications: C22, E31, F15
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    Topics: Economics
    Notes: Abstract. This paper examines price and inflation convergence between three European countries (Italy, Spain and the U.K.) and a European average and, alternatively, between them and Germany from the beginning of the 80's.  For this purpose the long-run stochastic relationships on prices derived from the convergence criteria agreed in the Maastricht Treaty are analyzed. In order to do this, some recent unit root tests have been applied as well as time-varying parameters models.  The results reject the long-run convergence hypothesis in all the cases but allow us to accept the existence of catching-up with the European average and Germany in some cases depending on the nature of the prices and on the countries considered.
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    Empirical economics 25 (2000), S. 189-208 
    ISSN: 1435-8921
    Keywords: Key words: Bootstrap, confidence intervals, frontiers, inefficiency, membership function, ranking ; JEL classification: C2, C4, C6, J3
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    Topics: Economics
    Notes: Abstract. When production functions are estimated as frontier functions, the deviations from the frontier can be interpreted as individual inefficiency estimates. Unfortunately, it has recently been shown that efficiency differences across individuals are very often statistically insignificant. In this paper, we will analyse the consequences of the consideration of confidence statements for the reliability of efficiency rankings. The stochastic frontier and confidence intervals derived by Horrace and Schmidt are compared to the COLS approach and bootstrap confidence intervals. The membership function is proposed as a simple Monte-Carlo approximation for the probability for an individual to be the most efficient in the sample.
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    Empirical economics 25 (2000), S. 229-246 
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    Keywords: Key words: Natural smoothing splines, load-curves, nonparametric regression under shape constrains ; JEL classification: C14, C53
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    Topics: Economics
    Notes: Abstract. In this paper, we analyze household load curves through the use of Constrained Smoothing Splines. These estimators are natural smoothing splines that allow to incorporate periodic shape constraints. Since the time pattern of electricity demand combines strong periodical regularities with abrupt changes along time, a nonparametric regression estimator that is able to incorporate regularity constrains appears to be very well suited to approach load curves. In the paper we also propose a method to compute the penalty parameters that appear in the constrained smoothing spline estimator, we show some statistical properties and finally we construct confidence intervals.
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    Empirical economics 25 (2000), S. 279-296 
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    Keywords: Key words: Heterogeneity in preferences, finite mixtures, female labor supply, taxes, tax simulation ; JEL classification: J22, H24
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    Topics: Economics
    Notes: Abstract. This paper expands the standard analysis of female labor supply to permit preference heterogeneity by using a finite mixture model. Using the extended model, we obtain theory consistent results whereas a traditional model produces a negative substitution effect. We use our model to illustrate the labor supply effects of a tax reform, corresponding to 1983–1992 changes in the Swedish income-tax schedule. The results shows an expected reduction in tax revenues of about 17%. Finally, we use Monte Carlo simulations and show that our proposed mixture model is robust towards different misspecifications.
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    Empirical economics 25 (2000), S. 297-313 
    ISSN: 1435-8921
    Keywords: Key words: Black market exchange rate, cointegration and error correction, trade liberalisation, forex reserves, India ; JEL classification: C2, F4, O5.
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. In this paper, we explore the determinants of black market (BM) exchange rates in India using annual data from 1955–1994 and integration and cointegration analysis. Two important factors, namely the import capacity of official foreign exchange reserves and restrictions on international trade, have largely been ignored as determinants of BM rates. We stress the importance of these two factors and incorporate them, with others more familiar in the literature, in our theoretical and empirical model for BM rates in India. Our empirical findings show that a low level of official foreign exchange reserves negatively and a high level of trade restrictions positively affect BM rates. We show that the flexible Bretton Woods exchange rate policies for India in 1973 have a negative impact on BM rates. The results also reveal that interest rate policies positively affect BM rates. Thus, our empirical model lends support to the trade and monetary approaches to BM rates and hence, trade restrictions with excess money supply should be removed to eliminate the BMs for forex in India.
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  • 189
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    Keywords: Key words: unemployment insurance, institutions, employment, duration models ; JEL classification: J64, J65
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. The paper examines the influence of unemployment insurance on the duration of employment spells in Canada using the 1988–90 Labour Market Activity Survey. The primary focus of the paper is to evaluate whether estimated UI effects are sensitive to the degree to which institutional rules and regulations governing UI eligibility and entitlement are explicitly modelled. The key result of the paper is that it is indeed important to allow for institutional detail when estimating unemployment insurance effects. Estimates using simple proxies for eligibility indicate small, often insignificant UI effects. The size and significance of the effects rise as more realistic versions of the variables are adopted. The estimates using the eligibility variables incorporating the greatest level of institutional detail suggest that a jump in the hazard rate by a factor of 2.3 may not be an unreasonable estimate of the effect.
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  • 190
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    Empirical economics 25 (2000), S. 369-392 
    ISSN: 1435-8921
    Keywords: Key words: Unit roots ; trend-cycle estimation ; stylized facts ; real business cycles ; JEL classifications: C20 ; E32
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. This paper analyses the stylized facts of business cycles in Norway, by comparing different detrending methods. As the choice of the appropriate data transformation depends on the nature of the underlying dynamic properties of the time series, a set of unit root tests are first applied to the data. The detrended data are analysed, both in the time domain and the frequency domain. The evidence suggests that whereas some variables (e.g. consumption and investment) behave consistently procyclically with GDP, for other variables (e.g. real wage and prices), the business cycle properties vary considerably with the detrending methods used. The results are evaluated from a real business cycle perspective, but overall, there is little evidence to support a (supply driven) real business cycle. Symmetries in business cycles are finally analysed by comparing the business cycles in Norway and selected countries.
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  • 191
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    Empirical economics 25 (2000), S. 421-436 
    ISSN: 1435-8921
    Keywords: Key words: Preference endogeneity ; demand for tourism ; habit persistence ; JEL classification: D1
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. This paper investigates how preference endogeneity, in the form of habit persistence, can affect short-run and long-run tourism expenditure decisions. The proposed model is applied to British quarterly data over the period 1979–91 and the empirical results suggest that preference endogeneity appears to have an important effect. This has policy implications for countries competing for British tourist arrivals. The differences between the short-run and long-run price and budget elasticities which are implied by habit persistence are also investigated.
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  • 192
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    Empirical economics 25 (2000), S. 463-474 
    ISSN: 1435-8921
    Keywords: Key words: Cointegration ; structural break ; stochastic convergence ; JEL Classification: O41
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. This paper analyzes the stochastic convergence in per capita income levels among the current G-7 over the period 1900–89. We show that, in the presence of possible structural breaks, the strong condition of stationary pair-wise differences between per capita GDP holds in more cases than previously supposed. However, convergence occurs more frequently in the first part of the time sample than in the second one.
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  • 193
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    Empirical economics 25 (2000), S. 495-506 
    ISSN: 1435-8921
    Keywords: Key words: Total factor productivity growth ; technical efficiency ; technological progress ; JEL classification: C33 ; L8 ; 08
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. As services are an important engine of growth for Singapore, this paper attempts to empirically investigate the sources of output growth in this sector to shed light on the debate sparked off by Krugman (1994) on the miraculous or mythical growth of Singapore and the other newly industralizing Southeast Asian economies. This is done by using the stochastic production frontier model with panel data. Unlike existing studies which used the conventional growth accounting approach to decompose output growth into just input growth and total factor productivity (TFP) growth, this approach further decomposes TFP growth into technological progress and changes in technical efficiency.
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  • 194
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    Empirical economics 25 (2000), S. 519-539 
    ISSN: 1435-8921
    Keywords: Key words: AIDS model ; invariance ; price indices ; conditional estimation ; Monte Carlo ; JEL classification: D12
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. Two issues are addressed in this paper. First, we explore the issue of price index invariance in the linearized Almost Ideal demand system. We establish that the Stone index, which lacks invariance, and the recently proposed invariant Laspeyres, Paasche and Tornqvist indices all generate biased and inconsistent estimators. Monte Carlo evidence shows that invariance does not necessarily lead to better estimates of price and income elasticities insofar as the Stone and Paasche indices are unambiguously inferior to the Laspeyres and Tornqvist indices, especially if prices are not strongly positively correlated. Second, we examine the merits of the widely used conditional ML estimator of the non-linear Almost Ideal system in which a prior value is chosen for the “subsistence” parameter. We find that the bias and trace mean square error increases induced by conditional estimation are modest. The choice between the linearized and the non-linear models favors the latter although in some cases linear methods are as good as non-linear.
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  • 195
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    Empirical economics 25 (2000), S. 563-580 
    ISSN: 1435-8921
    Keywords: Key words: Fractal Analysis ; Long-Memory and Persistence ; Commodity Price Colors ; JEL Classification: C22 ; E31 ; E32
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. Commodity price behavior holds much interest not only because these markets are affected by waves of speculative activity similar to security markets but more so that these commodities are linked to industries which purchase them and developing country producers which supply them. Commodity spot and future prices have thus been studied extensively. This research extends this work by employing recent fractal approaches to evaluate how the apparent random movements associated with short term behavior can also persist when examining long run behavior. We thus test for the presence of a persistent and finite variance component (i.e. long memory stationary process) as opposed to an infinite variance component (i.e. short memory nonstationary process) in a selected group of international commodity price series. Both fractal and persistent dependence hypotheses and test statistics have been employed. Estimates made of the power law exponent and of the nonintegral or fractional exponent suggest generating processes which are closer to black noise than to white, pink or brown noise.
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  • 196
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    Empirical economics 25 (2000), S. 605-621 
    ISSN: 1435-8921
    Keywords: Key words: public sector ; Laffer curve ; threshold models ; JEL classification: H11 ; J45
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. This paper develops a model of the relationship between public sector employment, total output and aggregate real demand in market prices, where public employment has a positive productivity effect on private output. Public employment crowds out private employment and output because its increase induces higher wages and taxes. The valuation of government output is also taken into account. While public employment affects total output and aggregate real demand in an a priori ambiguous way, numerical simulations suggest that the relationship may be nonlinear; positive, when public sector is “small” and negative, when it is “large”. Using the annual data from 22 OECD countries over the period 1960–1996 and estimating and testing for threshold models and more commonly used specifications with multiplicative interaction terms give support to this nonlinearity hypothesis between public employment and private sector output.
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  • 197
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    Empirical economics 25 (2000), S. 623-640 
    ISSN: 1435-8921
    Keywords: Key words: Labour demand ; labour-use ; technical efficiency ; banking industry ; JEL Classification: C23 ; D24 ; G21
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. The purpose of this paper is to analyse the impact of the deregulation of the Swedish banking industry in the mid-1980s, and the consequent banking crisis, on productive efficiency and productivity growth in the industry. An unbalanced panel of Swedish banks is studied over the period, 1984 to 1995. A total of 1275 observations are analysed for 156 banks that were observed for between two and twelve years. We adopt a translog stochastic frontier model to estimate the labour-use requirements in terms of the variables, loans, deposits, guarantees, number of branches and total inventories, together with the year of observation. The inefficiency effects in the labour-use frontier are modelled in terms of the number of branches, total inventories, the type of bank and year of observation. The technical inefficiencies of labour use of Swedish banks were found to be significant, with mean inefficiencies per year estimated to be between about 8 and 15 per cent over the years of study. However, the confidence interval predictions for these inefficiencies were found to be quite wide.
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  • 198
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    Empirical economics 25 (2000), S. 665-671 
    ISSN: 1435-8921
    Keywords: Key words: empirical densities ; heavy tails ; JEL classification: C13 ; C14
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. We argue against the view that it is mostly the peaks of the empirical densities of stock returns (and of other risky returns as well) that set such data aside from “normal” variables. We show that peaks depend on sample size and on the way returns are standardized, and that for given data sets of stock returns, both higher peaks and lower peaks than in a standard normal case can be obtained.
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  • 199
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    Empirical economics 25 (2000), S. 673-697 
    ISSN: 1435-8921
    Keywords: Key words: recruitment ; labour demand ; JEL classification: J63
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. This paper focuses on the recruitment behaviour of firms at the extensive margin; we empirically explore the relationship between employer search strategies and the number of applicants by means of (reduced form) two-equations simultaneous models. The empirical analysis is carried out on a rich micro data set on Dutch employer recruitment behaviour. Our empirical analysis reveals that the economic conditions prevailing on the labour market influence employer search activity at the extensive margin. In particular, we see that in tight (slack) labour markets characterised by excess demand (supply) of labour, the flow of applicants is smaller (larger). Employers react to the shortage (excess) of applicants by using more (less) often advertisements. This recruitment channel appears to trigger a significantly larger flow of applicants.
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  • 200
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    Empirical economics 5 (1980), S. 31-37 
    ISSN: 1435-8921
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary Previous studies of the price equation have generally used past values of variables to proxy expectations. In this note expected wage change, import price change and output change are formulated in both an extrapolative and unbiased manner. Empirical evidence on the efficacy of various alternative specifications is presented for the UK for 1961–1978 and the rational approach is found to work well.
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