ALBERT

All Library Books, journals and Electronic Records Telegrafenberg

X
feed icon rss

Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Export
Filter
  • Articles  (112)
  • Data
  • uncertainty  (53)
  • simulation  (38)
  • Column liquid chromatography
  • Electron microscopy
  • Monitoring system
  • stability
  • Springer  (112)
  • Economics  (112)
  • 1
    Electronic Resource
    Electronic Resource
    SHADOC: a multi‐agent model to tackle viability of irrigated systems (2000)
    Springer
    Annals of operations research 94 (2000), S. 139-162 
    Details
    ISSN: 1572-9338
    Keywords: irrigated system ; modeling ; multi‐agent system ; simulation ; social networks ; coordination
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract The viability of irrigated systems in the Senegal River Valley is being brought into question today due to their under‐utilization. We assume that their viability depends largely on the way their different components behave and interact. We therefore sought to examine in greater depth today's knowledge of the structure of these systems and activities performed within them. This led to the development of a multi‐agent system model, a kind of virtual irrigated system, with a special focus on rules in use for access to credit, water allocation and cropping season assessment as well as organization and coordination of farmers. The purpose of this paper is to show how this kind of tool is relevant to the study of irrigated systems' viability. As an example it is used to examine the influence of existing social networks on the viability of irrigated systems.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1018908931155
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 2
    Electronic Resource
    Electronic Resource
    Stability Properties of a Bond Portfolio Management Problem (2000)
    Springer
    Annals of operations research 99 (2000), S. 251-265 
    Details
    ISSN: 1572-9338
    Keywords: stochastic programming ; bond portfolio management ; interest ratescenarios ; stability ; sensitivity
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract The bond portfolio management problem is formulated as a multiperiod two-stage or multistage stochastic program based on interest rate scenarios. These scenarios depend on the available market data, on the applied estimation and sampling techniques, etc., and are used to evaluate coefficients of the resulting large scale mathematical program. The aim of the contribution is to analyze stability and sensitivity of this program on small changes of the coefficients – the (scenario dependent) values of future interest rates and prices. We shall prove that under sensible assumptions, the scenario subproblems are stable linear programs and that also the optimal first-stage decisions and the optimal value of the considered stochastic program possess acceptable continuity properties.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1019275817688
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 3
    Electronic Resource
    Electronic Resource
    Detecting Abnormal Bid-Ask Spread: A Comparison of Event Study Methods (2000)
    Springer
    Review of quantitative finance and accounting 14 (2000), S. 45-65 
    Details
    ISSN: 1573-7179
    Keywords: bid-ask spread ; event study methods ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This study examines empirical issues associated with the use of bid-ask spreads in event studies. The simulation results indicate that the distribution of average standardized abnormal spread shows little deviation from normality. Simulation results also indicate that the widely used percent spread metric results in test statistics with low power. In contrast, use of a standardized raw spread metric and a simple mean-adjusted expectation model results in well specified and reasonably powerful Patell and Brown-Warner type test statistics. As the abnormal spread series is characterized by high first order serial correlation, it is important to adjust for this serial correlation when using multi-day event windows.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008328107489
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 4
    Electronic Resource
    Electronic Resource
    Endogenous Future Preferences and Conservation (2000)
    Springer
    Environmental and resource economics 16 (2000), S. 253-262 
    Details
    ISSN: 1573-1502
    Keywords: endogenous future preferences ; stock of the environmental asset ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract A dynamic optimization model is developed in whichuncertainty about future preferences is endogenous,namely depending on the state of the environment atthe time the change in preferences occurs.Endogeneizing preferences not only provides economicintuition to previous results but also implies thatoptimal policies are less conservative.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008361604063
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 5
    Electronic Resource
    Electronic Resource
    Is Workers' Compensation a Substitute for Unemployment Insurance? (1999)
    Springer
    Journal of risk and uncertainty 18 (1999), S. 165-188 
    Details
    ISSN: 1573-0476
    Keywords: moral hazard ; unemployment insurance ; workers' compensation ; risk ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper examines how the Workers' Compensation (WC) and Unemployment Insurance (UI) programs interact to influence the duration of claims due to workplace accidents. We use longitudinal WC administrative micro-data on more than 30,000 workers in the Canadian construction industry for the period 1976–1986. For the estimations, we use the Meyer (1990) semi-parametric proportional hazard model. Our results show, in particular, that a reduction in the UI replacement ratio is associated with an increase in the duration of claims due to severe accidents that are difficult to diagnose. Moreover, the duration of spells on WC is much higher when an accident occurs in December, a month which corresponds to the beginning of the lay-off season in the construction sector. This result is consistent with the fact that WC benefits are more generous than UI benefits in Canada.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1007890630779
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 6
    Electronic Resource
    Electronic Resource
    Sensitivity and Stability of the Classifications of Returns to Scale in Data Envelopment Analysis (1999)
    Springer
    Journal of productivity analysis 12 (1999), S. 55-75 
    Details
    ISSN: 1573-0441
    Keywords: Data envelopment analysis (DEA) ; returns to scale (RTS) ; sensitivity ; stability
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Sensitivity of the returns to scale (RTS) classifications in data envelopment analysis is studied by means of linear programming problems. The stability region for an observation preserving its current RTS classification (constant, increasing or decreasing returns to scale) can be easily investigated by the optimal values to a set of particular DEA-type formulations. Necessary and sufficient conditions are determined for preserving the RTS classifications when input or output data perturbations are non-proportional. It is shown that the sensitivity analysis method under proportional data perturbations can also be used to estimate the RTS classifications and discover the identical RTS regions yielded by the input-based and the output-based DEA methods. Thus, our approach provides information on both the RTS classifications and the stability of the classifications. This sensitivity analysis method can easily be applied via existing DEA codes.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1007803207538
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 7
    Electronic Resource
    Electronic Resource
    Parameter Uncertainty in CGE Modeling of the Environmental Impacts of Economic Policies (1999)
    Springer
    Environmental and resource economics 14 (1999), S. 75-94 
    Details
    ISSN: 1573-1502
    Keywords: CGE ; Costa Rica ; environmental indicators ; Monte Carlo ; parameter values ; trade policy ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract This study explores the role of parameter uncertainty in CGE modeling of the environmental impacts of macroeconomic and sectoral policies, using Costa Rica as a case for study. A CGE model is constructed which includes eight environmental indicators covering deforestation, pesticides, overfishing, hazardous wastes, inorganic wastes, organic wastes, greenhouse gases, and air pollution. The parameters are treated as random variables drawn from prespecified distributions. Evaluation of each policy option consists of a Monte Carlo experiment. The impacts of the policy options on the environmental indicators are relatively robust to different parameter values, in spite of the wide range of parameter values employed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008362712759
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 8
    Electronic Resource
    Electronic Resource
    On the Tradeoff Between Computational Simplicity and Asymptotic Properties in Multivariate Probit (1999)
    Springer
    Computational economics 13 (1999), S. 93-101 
    Details
    ISSN: 1572-9974
    Keywords: efficiency ; multivariate probit ; quasi maximum likelihood ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Computer Science , Economics
    Notes: Abstract This paper discusses the most efficient estimator among Quasi Maximum Likelihood Estimators using at most two levels of numerical integration, for the multivariate probit model. Simulations show that this estimator is more efficient but not more costly than the second-best alternative. However, its added efficiency depends on the correlation structure.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008649923740
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 9
    Electronic Resource
    Electronic Resource
    Simulation of Controlled Financial Statements (1999)
    Springer
    Review of quantitative finance and accounting 13 (1999), S. 189-207 
    Details
    ISSN: 1573-7179
    Keywords: simulation ; financial statement ; monthly statement
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Many accounting and finance studies investigate the time-series properties of historical accounting records from corporate financial statements. Some of them have recognized the potential benefits of using disaggregated monthly accounting records. Disaggregated data are beneficial because one can use more data points within a relatively short period of time, thus reducing the chance of structural change. The added data points and reduction of the number of variables needed to accommodate potential structural changes can enhance the statistical power of any subsequent analysis. The use of disaggregated data may also improve the predictive ability of time-series analytic approaches. In order to systematically assess various financial indicators and investigate the effects of different organizational characteristics, a large number of monthly statements with certain predetermined characteristics are desirable. However, such statements are not readily available. At best, monthly statements can be obtained from a few volunteer companies. Under this circumstance, simulation of controlled financial statements seems to be a reasonable solution. This research explores a methodology for simulating complete monthly financial statements based on actual company quarterly financial statements. The methodology incorporates the interrelationships among accounting numbers and the effects of exogenous variables. To test the empirical validity and whether the monthly results derived from the quarterly data can accurately track the real monthly figures, we compare the results simulated by the proposed method and those generated by a naive random walk model. We test both complete financial statements for three companies and sales statistics from the retail industry. The results of both tests demonstrate the superiority of the method proposed by this study over a naive random walk model. The proposed simulation method provides an opportunity for researchers to examine the time-series properties of financial statement elements by using the monthly data of a large number of companies. In addition, the simulation approach allows researchers to perform cross sectional comparisons on companies with different characteristics (e.g., sales behavior patterns and degrees of stability) in their financial and economic activities. Moreover, it enables the researchers to manipulate some of these characteristics to test various hypotheses.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008304127780
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 10
    Electronic Resource
    Electronic Resource
    Production Games under Uncertainty (1999)
    Springer
    Computational economics 14 (1999), S. 237-253 
    Details
    ISSN: 1572-9974
    Keywords: cooperative games ; production ; core ; uncertainty ; stochastic programming ; distribution
    Source: Springer Online Journal Archives 1860-2000
    Topics: Computer Science , Economics
    Notes: Abstract The main objects below are transferable-utility games in which each agent faces an optimization problem, briefly called production planning, constrained by his resource endowment. Coalitions can pool members' resources. Such production games are here extended to accommodate uncertainty about events not known ex ante. Planning then takes the form of two-stage stochastic programming. Core solutions are sought, described, and computed via aggregate dual programs. The analysis is motivated by practical applications. Examples include stochastic production and regional distribution with random demand and supply, illustrated by a numerical example.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008720525884
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 11
    Electronic Resource
    Electronic Resource
    Role of the Minimal State Variable Criterion in Rational Expectations Models (1999)
    Springer
    International tax and public finance 6 (1999), S. 621-639 
    Details
    ISSN: 1573-6970
    Keywords: expectations ; bubbles ; uniqueness ; stability ; state variables ; multiplicity
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper concerns the minimal-state-variable (MSV) criterion for selection among solutions in rational expectationsmodels that feature a multiplicity of paths that satisfy all of the model's conditions. It compares the MSVcriterion with others, including the widely used saddle-path (dynamic stability) criterion. It is emphasized that theMSV criterion can be viewed as a scientifically useful classification scheme that delineates the unique solutionthat is free of bubble components. In the process of demonstrating uniqueness for a broad class of linear models,the paper exposits a convenient computational procedure. Applications to current issues are outlined.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008746610773
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 12
    Electronic Resource
    Electronic Resource
    The Measurement of Firm Information About Product Demand (1999)
    Springer
    Review of industrial organization 15 (1999), S. 149-163 
    Details
    ISSN: 1573-7160
    Keywords: Firm information ; stochastic frontier estimation ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The role of firm information about product and financial markets is the subject of considerable research. Typically empirical research measures information through price dispersion. However, the dispersion represents an imperfect measure of information. Several studies utilize stochastic frontier estimation techniques to measure worker information about the labor market. This paper determines whether the frontier information measure can be applied to the measurement of firm information about product markets. Several intuitive hypotheses are tested concerning the relationship between firm characteristics and information investments. The results are consistent with expectations and provide support for using stochastic frontier techniques to measure firm information.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1007732110007
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 13
    Electronic Resource
    Electronic Resource
    Optimal Management of Multiple Renewable Resource Stocks: An Application to Minke Whales (1999)
    Springer
    Environmental and resource economics 13 (1999), S. 435-458 
    Details
    ISSN: 1573-1502
    Keywords: bioeconomics ; multiple stocks ; humane values ; Minke whales ; Monte Carlo analysis ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract Most bioeconomic models of efficient renewable resource management are constructed for a single harvesting ground. A bioeconomic model is developed in this paper to study the optimal management of renewable resources that are found in spatially distinct harvesting grounds. The model is applied to Minke whale management. Important inter-regional substitution effects are shown to exist. In addition, comparison with previous studies shows that multiple stock management is necessary for efficient management. Finally, the current Minke whale moratorium is shown to be inefficient unless significant nonmarket values exist.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008261710951
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 14
    Electronic Resource
    Electronic Resource
    Portfolio optimization via stochastic programming: Methods of output analysis (1999)
    Springer
    Mathematical methods of operations research 50 (1999), S. 245-270 
    Details
    ISSN: 1432-5217
    Keywords: Key words: Portfolio optimization ; stochastic programming ; stability ; postoptimality ; worst-case analysis
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract. Solutions of portfolio optimization problems are often influenced by errors or misspecifications due to approximation, estimation and incomplete information. Selected methods for analysis of results obtained by solving stochastic programs are presented and their scope illustrated on generic examples – the Markowitz model, a multiperiod bond portfolio management problem and a general strategic investment problem. The approaches are based on asymptotic and robust statistics, on the moment problem and on results of parametric optimization.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/s001860050097
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 15
    Electronic Resource
    Electronic Resource
    Voluntary Contributions with Uncertainty: The Environmental Quality (1998)
    Springer
    The Geneva risk and insurance review 23 (1998), S. 151-165 
    Details
    ISSN: 1554-9658
    Keywords: environmental management ; uncertainty ; public goods ; voluntary contributions ; precaution ; risk
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This article presents a model in which production causes pollution that diminishes the welfare of its agents. Each agent is concerned with the quality of its environment and may voluntary contribute to improve it by financing depollution technology. The effectiveness of this technology on the quality of the environment is uncertain. We show that if an agent is sufficiently risk averse, voluntary contribution is a decreasing function of the average efficiency of depollution technology. If, on the contrary, the pollution effect is weaker than the substitution effect, the opposite holds. We show that precaution about environmental quality has two possible consequences that depend on agents' risk aversion. Therefore, the implications of a precautionary attitude lead us to consider the agents' risk-aversion characterization, which implies knowledge about prudent attitude.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008678228249
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 16
    Electronic Resource
    Electronic Resource
    Reachability of locational Nash equilibria (1998)
    Springer
    OR spectrum 20 (1998), S. 101-107 
    Details
    ISSN: 1436-6304
    Keywords: Competitive location model ; Nash equilibria ; stability ; reachability ; Wettbewerbsmodelle in der Standorttheorie ; Nash Gleichgewicht ; Stabilität ; Erreichbarkeit
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung In der Arbeit werden die Standorte von Duopolisten in einem Baum untersucht. Unter der Annahme festgesetzter Preise werden notwendige und hinreichende Bedingungen für Nash Gleichgewichte für Standorte auf Bäumen hergeleitet. Unter Verwendung dieser Bedingungen wird dann gezeigt, daß — angenommen Nash Gleichgewichte existieren — diese in einem wiederholt angewandten sequentiellen Standortfindungsprozeß, in dem beide Duopolisten als Zielfunktion kurzfristige Gewinnmaximierung haben, auch erreicht werden.
    Notes: Abstract This paper examines the location of duopolists on a tree. Given parametric prices, we first delineate necessary and sufficient conditions for locational Nash equilibria on trees. Given these conditions, we then show that Nash equilibria, provided they exist, can be reached in a repeated sequential relocation process in which both facilities follow short-term profit maximization objectives.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01539861
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 17
    Electronic Resource
    Electronic Resource
    Reachability of locational Nash equilibria (1998)
    Springer
    OR spectrum 20 (1998), S. 101-107 
    Details
    ISSN: 1436-6304
    Keywords: Key words: Competitive location model ; Nash equilibria ; stability ; reachability ; Schlüsselwörter: Wettbewerbsmodelle in der Standorttheorie ; Nash Gleichgewicht ; Stabilität ; Erreichbarkeit
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. In der Arbeit werden die Standorte von Duopolisten in einem Baum untersucht. Unter der Annahme festgesetzter Preise werden notwendige und hinreichende Bedingungen für Nash Gleichgewichte für Standorte auf Bäumen hergeleitet. Unter Verwendung dieser Bedingungen wird dann gezeigt, daß– angenommen Nash Gleichgewichte existieren – diese in einem wiederholt angewandten sequentiellen Standortfindungsprozeß, in dem beide Duopolisten als Zielfunktion kurzfristige Gewinnmaximierung haben, auch erreicht werden. “Equilibrium is a place in heaven, but how do we get there from here?”
    Notes: Abstract. This paper examines the location of duopolists on a tree. Given parametric prices, we first delineate necessary and sufficient conditions for locational Nash equilibria on trees. Given these conditions, we then show that Nash equilibria, provided they exist, can be reached in a repeated sequential relocation process in which both facilities follow short-term profit maximization objectives.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/s002910050058
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 18
    Electronic Resource
    Electronic Resource
    Money demand stability: Evidence from Spain (1998)
    Springer
    Empirical economics 23 (1998), S. 387-400 
    Details
    ISSN: 1435-8921
    Keywords: Key words: Money demand ; cointegration ; stability ; regime shift ; JEL classification: E41 ; C22
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract. Using several tests for structural stability in regressions with I(1) variables and for the existence of cointegration in models with regime shifts, the empirical evidence on the existence of a structural break in the Spanish long-run demand for broad money (ALP2) is analysed.  The results indicate that shifts affecting the demand for ALP2 in recent years have substantially altered its long-run properties. As to the cause of this structural break, emphasis is placed on the role played by the increasing openness of the Spanish financial system to international markets as obstacles to free capital movements have progressively disappeared.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/s001810050027
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 19
    Electronic Resource
    Electronic Resource
    Biases in Assessments of Probabilities: New Evidence from Greyhound Races (1998)
    Springer
    Journal of risk and uncertainty 17 (1998), S. 151-167 
    Details
    ISSN: 1573-0476
    Keywords: Pari-mutuel game ; uncertainty ; gambler's fallacy
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper investigates biases in the perceptions of probabilities using data from the 1989 and 1994 seasons at the Woodlands greyhound park in Kansas City, Kansas. Results reveal consistent evidence that the gambler's fallacy exists. The results also reveal that gamblers overestimate the probability of a win by the favorite and the dog in the “lucky” seven position. However, the comparison also suggests some learning by bettors between the first season of operation in 1989 and the 1994 season.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1007771613236
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 20
    Electronic Resource
    Electronic Resource
    Uncertainty and critical-level population principles (1998)
    Springer
    Journal of population economics 11 (1998), S. 1-20 
    Details
    ISSN: 1432-1475
    Keywords: JEL classification: D63 ; D71 ; D81 ; Key words: Population ethics ; uncertainty ; critical levels
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract This paper analyzes variable-population social-evaluation principles in a framework where outcomes are uncertain. We provide characterizations of expected-utility versions of critical-level generalized utilitarian rules. These principles evaluate lotteries over possible states of the world on the basis of the sum of the expected values of differences between transformed utility levels and a transformed critical level, conditional on the agents‘ being alive in the states under consideration. Equivalently, the critical-level utilitarian value functions applied to weighted individual expected utilities can be employed. Weights are determined by the anonymity axiom.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/s001480050055
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 21
    Electronic Resource
    Electronic Resource
    Resilience in the Dynamics of Economy-Environment Systems (1998)
    Springer
    Environmental and resource economics 11 (1998), S. 503-520 
    Details
    ISSN: 1573-1502
    Keywords: biodiversity ; dynamics ; resilience ; stability
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract The ecological concept of resilience has begun to inform analysis of change in economy-environment systems. The linkages between resilience and the stability of dynamical systems are discussed, along with its role in understanding of the evolution of such systems. Particular linkages discussed include those between resilience, biodiversity and the sustainability of alternative states. Recent developments in modelling the resilience of joint economy-environment systems suggest the advantages of analysing change in the system as a Markov process, the transition probabilities between states offering a natural measure of the resilience of the system in such states. It is argued that this ‘emergent property’ of the collaboration between ecology and economics has far-reaching implications for the way we think about, model and manage the environmental sustainability of economic development.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008255614276
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 22
    Electronic Resource
    Electronic Resource
    Wage-distance regulation in social-welfare programs: An option-theory perspective (1998)
    Springer
    Journal of economics 68 (1998), S. 271-293 
    Details
    ISSN: 1617-7134
    Keywords: H53 ; D81 ; social-welfare programs ; wage distance ; shadow economy ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract It is often argued that low-skilled workers have an incentive to escape to the unofficial sector if welfare benefits come too close to the net wage in the official sector. Upper limits of welfare benefits often serve as an instrument to ensure a sufficiently high income differnetial between sectors. However, if unofficial-sector income is insecure, and if a change of sectors is costly, an option value of working in the official sector has to be taken into account. This option value reduces the incentive for lowly skilled workers to give up official-sector jobs. Upper limits of welfare benefits might therefore be defined less restrictively.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01237196
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 23
    Electronic Resource
    Electronic Resource
    Policy Adoption Rules and Global Warming (1998)
    Springer
    Environmental and resource economics 11 (1998), S. 635-646 
    Details
    ISSN: 1573-1502
    Keywords: damages ; global warming ; irreversibility ; optimal stopping ; timing ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract Although there is widespread agreement about the dangers of global warming and the resulting need to cut down emissions, there does not seem to be general agreement about the exact form the policy should take or the timing of its adoption. Failure to adopt and implement policies against global warming reflects the complexity of the problem, the uncertainties of climate change and the cost of policy adoption. Issues associated with the interactions between uncertainties and irreversibilities in determining the timing of policy adoption are analyzed by using the methodology of optimal stopping rules. Optimal policy functions are derived for cooperative and noncooperative solutions, with differential game representation. Issues associated with the empirical application of the optimal policy rules are also considered.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008299430205
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 24
    Electronic Resource
    Electronic Resource
    Nuclear Power, Externalities and Non-Standard Pigouvian Taxes (1998)
    Springer
    Environmental and resource economics 11 (1998), S. 177-195 
    Details
    ISSN: 1573-1502
    Keywords: uncertainty ; externalities ; Pigouvian taxes ; nuclear power
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract The external effects arising from the use of nuclear power are, in a fundamental way, related to uncertainty. In this paper we locate these external effects and derive a dynamic Pigouvian tax in order to make the decentralized economy support the command optimum. Another interesting result is that a small constant energy tax (which we interpret as a second best policy) can take the decentralized economy reasonably close to the command optimum.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008200513848
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 25
    Electronic Resource
    Electronic Resource
    Money demand stability: Evidence from Spain (1998)
    Springer
    Empirical economics 23 (1998), S. 387-400 
    Details
    ISSN: 1435-8921
    Keywords: Money demand ; cointegration ; stability ; regime shift ; E41 ; C22
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Using several tests for structural stability in regressions with I(1) variables and for the existence of cointegration in models with regime shifts, the empirical evidence on the existence of a structural break in the Spanish long-run demand for broad money (ALP2) is analysed. The results indicate that shifts affecting the demand for ALP2 in recent years have substantially altered its long-run properties. As to the cause of this structural break, emphasis is placed on the role played by the increasing openness of the Spanish financial system to international markets as obstacles to free capital movements have progressively disappeared.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01294414
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 26
    Electronic Resource
    Electronic Resource
    Look ahead job demanding for improving job shop performance (1997)
    Springer
    OR spectrum 19 (1997), S. 23-29 
    Details
    ISSN: 1436-6304
    Keywords: Job shop scheduling ; dispatching rules ; coordination ; look ahead information ; simulation ; Werkstattsteuerung ; Steuerungsregeln ; Koordination ; Vorausschauende Informationen ; Simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung In diesem Beitrag wird ein neuartiger Ansatz zur Koordination dezentraler Werkstattsteuerungsregeln vorgestellt und mit Hilfe einer Simulationsstudie analysiert. Die Koordination basiert auf vorausschauenden Informationen und enthält einen Auftragsnachfrage-/-angebotsmechanismus. Die Simulations-experimente zeigen, daß durch den Einsatz des Koordinationsmechanismus die Leistung herkömmlicher Steuerungsregeln signifikant verbessert wird.
    Notes: Abstract In this paper a new coordination approach for decentralized job shop scheduling rules is presented and analyzed in a simulation study. The coordination is based on look ahead information and contains a mechanism for demanding and supplying jobs. The simulation experiments show that the performance of conventional scheduling rules is significantly improved using the coordination mechanism.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01539802
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 27
    Electronic Resource
    Electronic Resource
    Look ahead job demanding for improving job shop performance (1997)
    Springer
    OR spectrum 19 (1997), S. 23-29 
    Details
    ISSN: 1436-6304
    Keywords: Key words: Job shop scheduling ; dispatching rules ; coordination ; look ahead information ; simulation ; Schlüsselwörter: Werkstattsteuerung ; Steuerungsregeln ; Koordination ; Vorausschauende Informationen ; Simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. In diesem Beitrag wird ein neu-artiger Ansatz zur Koordination dezentraler Werkstattsteuerungsregeln vorgestellt und mit Hilfe einer Simulationsstudie analysiert. Die Koordination basiert auf vorausschauenden Informationen und enthält einen Auftragsnachfrage-/-angebotsmechanismus. Die Simulations- experimente zeigen, daß durch den Einsatz des Koordinationsmechanismus die Leistung herkömmlicher Steuerungsregeln signifikant verbessert wird.
    Notes: Abstract. In this paper a new coordination approach for decentralized job shop scheduling rules is presented and analyzed in a simulation study. The coordination is based on look ahead information and contains a mechanism for demanding and supplying jobs. The simulation experiments show that the performance of conventional scheduling rules is significantly improved using the coordination mechanism.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01539802
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 28
    Electronic Resource
    Electronic Resource
    Experimental evaluation of the classificatory performance of mathematical programming approaches to the three-group discriminant problem: The case of small samples (1997)
    Springer
    Annals of operations research 74 (1997), S. 191-209 
    Details
    ISSN: 1572-9338
    Keywords: integer programming ; discriminant analysis ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract Although there have been several journal articles on the classificatory performance of mathematical programming approaches to the two-group discriminant problem, there has been no simulation study on the classificatory performance of mathematical programming approaches to the multiple-group problem reported in the literature. This study reports the results of a simulation experiment on the classificatory performance of a single-function and a multiple-function mathematical programming model relative to that of the standard parametric procedures for the three-group problem with small training samples. The effect of second-order terms on the classificatory performance of the mathematical programming models for the three-group problem is also investigated. Furthermore, this study theoretically examines the range of parameter values of a multiple-function mathematical programming model for which its number of misclassifications in the training sample cannot exceed that of a single-function model.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1018918320541
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 29
    Electronic Resource
    Electronic Resource
    Enhancing graphical simulation output using cluster analysis (1997)
    Springer
    Annals of operations research 74 (1997), S. 321-332 
    Details
    ISSN: 1572-9338
    Keywords: simulation ; modeling ; aerospace ; air route structure ; free flight ; clustering
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract Recent work performed for the Federal Aviation Administration to support the development of future concepts of air traffic management has involved simulation modeling of patterns of airspace usage by commercial and business air traffic. The objective of these efforts has been to investigate the impacts of a pattern of airspace usage known as "free flight", whereby pilots and flight dispatchers have much more freedom to choose, say, direct or wind-optimal routing through airspace. One of the figures of merit investigated is a count of "convergence pairs" as a measure of the complexity of various traffic patterns. These are cases when aircraft in the simulation model fly close to each other. Interestingly, geographic plots of convergence pairs accumulated over time bring out certain features or patterns of congested air traffic flows or flight alignments. However, these plots are also thick with "noise" or extraneous convergence pairs, whose presence detracts from the ability to perceive congested air traffic flows. Cluster analysis has been found to be an effective method of filtering these displays so that the congested flow features are discernible. The process developed for this purpose is based on a two-pass clustering approach. The process has worked well for the simulation modeling performed to date. Classification of the locations of convergence pairs into congested flow corridors is visually appealing, and has helped distinguish differences in contrasting scenarios of airspace usage. The paper presents graphical results and describes the clustering algorithms employed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1018986808246
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 30
    Electronic Resource
    Electronic Resource
    Estimation and testing in least absolute value regression with serially correlated disturbances (1997)
    Springer
    Annals of operations research 74 (1997), S. 239-257 
    Details
    ISSN: 1572-9338
    Keywords: autocorrelation ; L 1 regression ; least absolute deviations ; robust regression ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract Least absolute value (LAV) regression provides a robust alternative to least squares, particularly when the disturbances follow distributions that are nonnormal and subject to outliers. While inference in least squares estimation is well-understood, inferential procedures in the context of LAV estimation have not been studied as extensively, particularly in the presence of non-independent disturbances. In this work, we study three alternative significance test procedures in LAV regression, along with two approaches used to correct for serial correlation. The study is based on large-scale Monte Carlo simulations, and comparisons are made based on both observed significance levels and power.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1018974405520
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 31
    Electronic Resource
    Electronic Resource
    Model misspecification in Data Envelopment Analysis (1997)
    Springer
    Annals of operations research 73 (1997), S. 233-252 
    Details
    ISSN: 1572-9338
    Keywords: Data Envelopment Analysis ; model specification ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract The use of Data Envelopment Analysis for estimating comparative efficiency has become widespread, and there has been considerable academic attention paid to the development of variants of the basic DEA model. However, one of the principal weaknesses of DEA is that - unlike statistically based methods - it yields no diagnostics to help the user determine whether or not the chosen model is appropriate. In particular, the choice of inputs and out-puts depends solely on the judgement of the user. The purpose of this paper is to examine the implications for efficiency scores of using a misspecified model. A simple production process is set up. Simulation models are then used to explore the effects of applying misspecified DEA models to this process. The phenomena investigated are: the omission of significant variables; the inclusion of irrelevant variables; and the adoption of an inappropriate variable returns to scale assumption. The robustness of the results is investigated in relation to sample size; variations in the number of inputs; correlation between inputs; and variations in the importance of inputs. The paper concludes that the dangers of misspecification are most serious when simple models are used and sample sizes are small. In such circumstances, it is concluded that it will usually be to the modeller's advantage to err on the side of including possibly irrelevant variables rather than run the risk of excluding a potentially important variable from the model.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1018981212364
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 32
    Electronic Resource
    Electronic Resource
    Pitfalls of Normal-Gamma Stochastic Frontier Models (1997)
    Springer
    Journal of productivity analysis 8 (1997), S. 167-182 
    Details
    ISSN: 1573-0441
    Keywords: Identifiability ; least squares ; likelihood ; profile ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Although conceptually pleasing, normal-gamma frontier models lead to difficult estimation problems. It is shown here that unless the sample size reaches several thousands of observations the shape parameter of the gamma density is hard to estimate, and that this carries over to estimates of the stochastic frontier, the individual inefficiencies, and the allocation of the overall variance to the stochastic frontier and to the inefficiencies.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1007751524050
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 33
    Electronic Resource
    Electronic Resource
    Interval Arithmetic for Input-output Models with Inexact Data (1997)
    Springer
    Computational economics 10 (1997), S. 89-100 
    Details
    ISSN: 1572-9974
    Keywords: input-output models ; uncertainty ; interval arithmetic.
    Source: Springer Online Journal Archives 1860-2000
    Topics: Computer Science , Economics
    Notes: Abstract Input-output models are subject to uncertainty. If these models are solved without regard to the effects of the uncertainty the solutions can be substantially in error. Interval arithmetic offers a means by which the effects of this uncertainty can be assessed. They also offer a means of evaluating changes in the technical coefficients and a means of determining inverse important coefficients.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1017987931447
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 34
    Electronic Resource
    Electronic Resource
    Visualisation in the Simulation and Control of Economic Models (1997)
    Springer
    Computational economics 10 (1997), S. 107-118 
    Details
    ISSN: 1572-9974
    Keywords: visualisation ; simulation ; linear quadratic control ; observer ; Kalmanfilter
    Source: Springer Online Journal Archives 1860-2000
    Topics: Computer Science , Economics
    Notes: Abstract Simulation of economic models is frequently used in the investigation of economic policy. Yet one of the problems with simulation is that it can be difficult to appreciate the model properties due to the nature of the simulation process. Stochastic simulation, for example, can produce large quantities of output which can be difficult to comprehend. Further, when mathematically sophisticated techniques such as the use of optimal control and Kalman Filtering are applied to models, the simulation process can become even more complex. Visualisation techniques in model building, simulation, and analysis of simulation output can help reduce the complexity. This is especially the case with interactive simulation. In this paper we investigate the use of visualisation in simulation by examining the application of optimal control techniques to a stochastic forward looking analytic economic model. We also use interactive object oriented simulation software where objects, such as components of models or graphs of outputs, can be visually manipulated to form simulation systems. We find that the use of visualisation can make the investigation of policy analysis issues with such models more comprehensible.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008631912069
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 35
    Electronic Resource
    Electronic Resource
    Using Computer-Based Simulation Exercises to Teach Business Ethics (1997)
    Springer
    Teaching business ethics 1 (1997), S. 163-181 
    Details
    ISSN: 1573-1944
    Keywords: business ; computer ; ethics ; experiential ; simulation ; teaching
    Source: Springer Online Journal Archives 1860-2000
    Topics: Philosophy , Economics
    Notes: Abstract This paper discusses how to introduce ethical dilemmas into computer-based business simulation exercise to teach business ethics. Simulations have an inherent advantage over other pedagogies for teaching ethics because simulations provide students with both an intellectual and a behavioral exposure to the topic. Issues addressed include considerations before writing ethical dilemmas, the writing of ethical dilemmas, and process issues for introducing ethical dilemmas. An example is developed and discussed. Through the process described, instructors can better prepare students for a lifetime of tough business decisions.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1009713431855
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 36
    Electronic Resource
    Electronic Resource
    Diffusion of innovations in globally stable Walrasian equilibrium (1997)
    Springer
    Journal of economics 66 (1997), S. 1-22 
    Details
    ISSN: 1617-7134
    Keywords: diffusion of innovations ; Walrasian equilibrium ; stability ; O31
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract When all products in the economy are weak gross substitutes, preferences are homothetic, and firms face menu costs then all prices in an industry move together at the same rate. In the closed-loop Nash noncooperative equilibrium, all firms invest in productivity and reduce real prices. As a result, in the case of quadratic menu costs, the outputs of industries and the economy go up along S-shaped time paths characteristic of diffusion of innovations.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01231464
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 37
    Electronic Resource
    Electronic Resource
    A dynamic Stackelberg model with production-adjustment costs (1997)
    Springer
    Journal of economics 66 (1997), S. 271-282 
    Details
    ISSN: 1617-7134
    Keywords: Stackelberg model ; dynamic oligopoly ; stability ; C62 ; C73 ; D43
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We investigate the (dynamic) stability of a stackelberg oligopoly model of a market of a homogeneous good, with output competition, one Stackelberg leader and a number of identical followers. We assume that each firm incurs quadratic production-adjustment costs if it changes its output. We present a simple necessary and sufficient condition for stability of the model. Using the condition, we compare the stability of this model with the stability of two related Cournot models in which all firms present are followers. It turns out that the Stackelberg model is “more stable” than these two Cournot models.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01226829
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 38
    Electronic Resource
    Electronic Resource
    Uncertainty, Learning and International Environmental Policy Coordination (1997)
    Springer
    Environmental and resource economics 9 (1997), S. 451-466 
    Details
    ISSN: 1573-1502
    Keywords: global warming ; uncertainty ; learning ; irreversibility ; value of information ; dynamic games ; international agreements
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract In this paper we construct a simple model of global warming which captures a number of key features of the global warming problem: (i) environmental damages are related to the stock of greenhouse gases in the atmosphere; (ii) the global commons nature of the problem means that these are strategic interactions between the emissions policies of the governments of individual nation states; (iii) there is uncertainty about the extent of the future damages that will be incurred by each country from any given level of concentration of greenhouse gases but there is the possibility that at a future date better information about the true extent of environmental damages may become available; an important aspect of the problem is the extent to which damages in different countries may be correlated. In the first part of the paper we consider a simple model with two symmetric countries and show that the value of perfect information is an increasing function of the correlation between damages in the two countries in both the cooperative and non-cooperative equilibria. However, while the value of perfect information is always non-negative in the cooperative equilibrium, in the non-cooperative equilibrium there is a critical value of the correlation coefficient below which the value of perfect information will be negative. In the second part of the paper we construct an empirical model of global warming distinguishing between OECD and non-OECD countries and show that in the non-cooperative equilibrium the value of perfect information for OECD countries is negative when the correlation coefficient between environmental damages for OECD and non-OECD countries is negative. The implications of these results for international agreements are discussed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1026481609236
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 39
    Electronic Resource
    Electronic Resource
    Uncertain climate change in an intergenerational planning model (1997)
    Springer
    Environmental and resource economics 9 (1997), S. 103-124 
    Details
    ISSN: 1573-1502
    Keywords: climate change ; uncertainty ; irreversibility ; intergenerational ; stochastic dynamic programming ; resource extraction
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract A three-generation planning model incorporating uncertain climate change is developed. Each generation features a production activity based on capital and an exhaustible resource. An irreversible climate change may occur in period two or three, reducing the productivity for this and the remaining generation. The model is solved by stochastic dynamic programming. If the climate impact and climate change probability is constant, the optimal period one (and two) resource extraction is larger than for the reference case of climate stability. If, however, climate impact and climate change probability increases with increased aggregate resource use, this result is reversed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02441372
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 40
    Electronic Resource
    Electronic Resource
    Uncertainty, learning and international environmental policy coordination (1997)
    Springer
    Environmental and resource economics 9 (1997), S. 451-466 
    Details
    ISSN: 1573-1502
    Keywords: global warming ; uncertainty ; learning ; irreversibility ; value of information ; dynamic games ; international agreements
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract In this paper we construct a simple model of global warming which captures a number of key features of the global warming problem: (i) environmental damages are related to the stock of greenhouse gases in the atmosphere; (ii) the global commons nature of the problem means that these are strategic interactions between the emissions policies of the governments of individual nation states; (iii) there is uncertainty about the extent of the future damages that will be incurred by each country from any given level of concentration of greenhouse gases but there is the possibility that at a future date better information about the true extent of environmental damages may become available; an important aspect of the problem is the extent to which damages in different countries may be correlated. In the first part of the paper we consider a simple model with two symmetric countries and show that the value of perfect information is an increasing function of the correlation between damages in the two countries in both the cooperative and non-cooperative equilibria. However, while the value of perfect information is always non-negative in the cooperative equilibrium, in the non-cooperative equilibrium there is a critical value of the correlation coefficient below which the value of perfect information will be negative. In the second part of the paper we construct an empirical model of global warming distinguishing between OECD and non-OECD countries and show that in the non-cooperative equilibrium the value of perfect information for OECD countries is negative when the correlation coefficient between environmental damages for OECD and non-OECD countries is negative. The implications of these results for international agreements are discussed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02441761
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 41
    Electronic Resource
    Electronic Resource
    Uncertain Climate Change in an Intergenerational Planning Model (1997)
    Springer
    Environmental and resource economics 9 (1997), S. 103-124 
    Details
    ISSN: 1573-1502
    Keywords: climate change ; uncertainty ; irreversibility ; intergenerational ; stochastic dynamic programming ; resource extraction
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract A three-generation planning model incorporating uncertain climate change is developed. Each generation features a production activity based on capital and an exhaustible resource. An irreversible climate change may occur in period two or three, reducing the productivity for this and the remaining generation. The model is solved by stochastic dynamic programming. If the climate impact and climate change probability is constant, the optimal period one (and two) resource extraction is larger than for the reference case of climate stability. If, however, climate impact and climate change probability increases with increased aggregate resource use, this result is reversed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1026442931362
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 42
    Electronic Resource
    Electronic Resource
    Investment under demand uncertainty: The newsboy problem revisited (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 179-189 
    Details
    ISSN: 1554-9658
    Keywords: uncertainty ; investment ; newsboy problem ; increase in risk ; optimal capacity
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this article we study the effect of uncertainty on an entrepreneur who must choose the capacity of his business before knowing the demand for his product. The unit profit of operation is known with certainty, but there is no flexibility in our one-period framework. We show how the introduction of global uncertainty reduces the investment of the risk-neutral entrepreneur and, even more, that of the risk-averse one. We also show how marginal increases in risk reduce the optimal capacity of both the risk-neutral and the risk-averse entrepreneur, without any restriction on the concave utility function and with limited restrictions on the definition of a mean preserving spread. These general results are explained by the fact that the newsboy has a piecewise-linear, and concave, monetary payoff with a kink endogenously determined at the level of optimal capacity. Our results are compared with those in the two literatures on price uncertainty and demand uncertainty, and particularly, with the recent contributions of Eeckhoudt, Gollier, and Schlesinger [1991, 1995].
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00941937
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 43
    Electronic Resource
    Electronic Resource
    Generalized linear complementarity in a problem ofn-person games (1996)
    Springer
    OR spectrum 18 (1996), S. 231-239 
    Details
    ISSN: 1436-6304
    Keywords: Generalized polymatrix games ; generalized linear complementarity problem ; stability ; degree theory ; Verallgemeinerte Polymatrix-Spiele ; verallgemeinertes lineares Komplementaritätsproblem ; Stabilität ; Grad-Theorie
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung In dieser Arbeit führen wir eine Verallgemeinerung des Polymatrix-Spiels (eines Nicht-Nullsummen- und nicht-kooperativenn-Personen-Spiels), das von Howson betrachtet wurde, ein und führen das Problem, eine Gleichgewichtsmenge von Strategien für ein solches Spiel zu berechnen, auf das verallgemeinerte lineare Komplementaritätsproblem von Cottle und Dantzig zurück. Für eine noch allgemeinere Version des Spiels beweisen wir die Existenz einerε-Gleichgewichtsmenge von Strategien. Wir präsentieren auch ein Ergebnis über die Stabilität der Gleichgewichte, das auf der Grad-Theorie beruht.
    Notes: Abstract In this paper, we introduce a generalization of the polymatrix game (a nonzero sum noncooperativen-person game) considered by Howson and relate the problem of computing an equilibrium set of strategies for such a game to the generalized linear complementarity problem of Cottle and Dantzig. For an even more general version of the game we prove the existence of anε-equilibrium set of strategies. We also present a result on the stability of the equilibria based on degree theory.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01540162
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 44
    Electronic Resource
    Electronic Resource
    Simulation modeling for emergency bed requirement planning (1996)
    Springer
    Annals of operations research 67 (1996), S. 183-210 
    Details
    ISSN: 1572-9338
    Keywords: Capacity planning ; emergency services ; health care ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract Due to its highly stochastic nature and complex interaction between services involved, health care has been a demanding area of application for computer simulation. This paper includes details and results of a simulation study realized in the Surgical Emergency Department at Istanbul University School of Medicine. The purpose is to suggest new bed capacities to improve the current system, and also to provide the management with guidelines for their expansion plans. For this aim, arrival rates, treatment procedures, inpatient admittance, and service durations have been carefully analyzed and modeled. The model, coded in SLAM-II simulation language, has been run under several bed capacity scenarios, and resulting queueing and waiting patterns have been discussed in detail.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02187029
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 45
    Electronic Resource
    Electronic Resource
    An experimental investigation of the impact of ambiguity on the valuationof self-insurance and self-protection (1996)
    Springer
    Journal of risk and uncertainty 13 (1996), S. 53-71 
    Details
    ISSN: 1573-0476
    Keywords: risk ; uncertainty ; ambiguity ; self-protection ; self-insurance ; framing ; D81
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We build two experimental markets to examine individual valuations of risk reductions with two risk-management tools: self-insurance and self-protection. We find no positive evidence that the risk-reducing mechanisms constitute a “frame.” Ambiguity in the probability on average affects valuation only weakly, and changes in the representation of ambiguity do not alter valuation. Finally, unlike the results obtained by Hogarth and Kunreuther for the case of market insurance, our findings do not provide a strong support for the “Anchoring and Adjustment” ambiguity model.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00055338
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 46
    Electronic Resource
    Electronic Resource
    Options traders exhibit subadditive decision weights (1996)
    Springer
    Journal of risk and uncertainty 13 (1996), S. 5-17 
    Details
    ISSN: 1573-0476
    Keywords: risk ; uncertainty ; decision weights ; subadditivity
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Professional options traders priced risky prospects as well as uncertain prospects whose outcomes depended on future values of various stocks. The prices of the risky prospects coincided with their expected value, but the prices of the uncertain prospects violated expected utility theory. An event had greater impact on prices when it turned an impossibility into a possibility or a possibility into a certainty than when it merely made a possibility more or less likely, as predicted by prospect theory. This phenomenon is attributed to the subadditivity of judged probabilities.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00055335
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 47
    Electronic Resource
    Electronic Resource
    Consumer inventory sensitivity and the postpromotion dip (1996)
    Springer
    Marketing letters 7 (1996), S. 77-94 
    Details
    ISSN: 1573-059X
    Keywords: promotion ; scanner data ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We summarize and critique seven theories that might explain the lack of a postpromotion dip in sales in the weeks following a promotion. We then propose and provide empirical support for a new explanation. We argue that in markets where the consumer category purchase decision is not strongly influenced by inventory levels, the displacement effect of accelerated sales will tend to be distributed fairly uniformly into the future such that clearly defined dips are not observed. We utilize a simulation based on real data to investigate this explanation. The simulation shows that given the degree to which inventory influences the purchase decision, we would not expect to see postpromotion dips, even though promotion influences the purchase decision. However, the simulation shows that if inventory had a greater influence on the purchase decision, we would expect to see postpromotion dips. We conclude with implications for both researchers and managers.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00557313
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 48
    Electronic Resource
    Electronic Resource
    A hyperbolic diffusion model for stock prices (1996)
    Springer
    Finance and stochastics 1 (1996), S. 25-41 
    Details
    ISSN: 1432-1122
    Keywords: Key words: Martingale estimating function ; option pricing ; quasi-likelihood ; simulation ; stochastic differential equation ; volatility. ; JEL classification: G12 ; Mathematics Subject Classification (1991): 62M05
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract. In the present paper we consider a model for stock prices which is a generalization of the model behind the Black–Scholes formula for pricing European call options. We model the log-price as a deterministic linear trend plus a diffusion process with drift zero and with a diffusion coefficient (volatility) which depends in a particular way on the instantaneous stock price. It is shown that the model possesses a number of properties encountered in empirical studies of stock prices. In particular the distribution of the adjusted log-price is hyperbolic rather than normal. The model is rather successfully fitted to two different stock price data sets. Finally, the question of option pricing based on our model is discussed and comparison to the Black–Scholes formula is made. The paper also introduces a simple general way of constructing a zero-drift diffusion with a given marginal distribution, by which other models that are potentially useful in mathematical finance can be developed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/s007800050015
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 49
    Electronic Resource
    Electronic Resource
    A generalization of the Nash equilibrium theorem on bimatrix games (1996)
    Springer
    International journal of game theory 25 (1996), S. 1-12 
    Details
    ISSN: 1432-1270
    Keywords: Bimatrix game ; ɛ-equilibrium ; optimal strategies ; vertical linear complementarity problem ; degree ; stability
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract In this article, we consider a two-person game in which the first player picks a row representative matrixM from a nonempty set $$A$$ ofm ×n matrices and a probability distributionx on {1,2,...,m} while the second player picks a column representative matrixN from a nonempty set ℬ ofm ×n matrices and a probability distribution y on 1,2,...,n. This leads to the respective costs ofx t My andx t Ny for these players. We establish the existence of an ɛ-equilibrium for this game under the assumption that $$A$$ and ℬ are bounded. When the sets $$A$$ and ℬ are compact in ℝmxn, the result yields an equilibrium state at which stage no player can decrease his cost by unilaterally changing his row/column selection and probability distribution. The result, when further specialized to singleton sets, reduces to the famous theorem of Nash on bimatrix games.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01254380
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 50
    Electronic Resource
    Electronic Resource
    Valuation and management of tropical forests (1996)
    Springer
    Environmental and resource economics 8 (1996), S. 39-61 
    Details
    ISSN: 1573-1502
    Keywords: tropical forests ; irreversibility ; uncertainty ; Thai parks
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract This paper develops a framework for the valuation and management of tropical forests that reflects their ecological and economic characteristics. The analysis demonstrates the importance of modeling the feasible use patterns and the information structure in tropical forest management decisions. The model predicts that cases exist where the foresighted management of forests leads to more preservation than the traditional expected value approach. An application in Thailand provides evidence that such cases occur in relevant ranges of benefit flows. The model focuses tropical forest management on assessments of sustainability and feasible sequences in light of uncertainty and information flows.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00340652
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 51
    Electronic Resource
    Electronic Resource
    The effects of environmental liability on industrial real estate development (1996)
    Springer
    The journal of real estate finance and economics 12 (1996), S. 37-58 
    Details
    ISSN: 1573-045X
    Keywords: liability ; uncertainty ; industrial redevelopment
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The paper explores the effects of current liability law on real estate transactions involving properties with potential environmental contamination. Sources of uncertainty and their likely impact on transactions are identified. Liability-driven market distortions are likely to be due less to legal uncertainty than to problems arising from asymmetric information and imperfect detection.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00127765
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 52
    Electronic Resource
    Electronic Resource
    CVP under uncertainty and the manager's utility function (1996)
    Springer
    Review of quantitative finance and accounting 6 (1996), S. 133-147 
    Details
    ISSN: 1573-7179
    Keywords: cost-volume-profit analysis ; uncertainty ; risk aversion ; fixed cost effect
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Cost-volume-profit analysis has focused on the firm's short-run output decision assuming that the manager maximizes the firm's objective function rather than his or her own. This study argues that the decision problem facing the manager is to determine not only the level of output, but also the level of investment in risky assets in such a way that the expected utility of the manager's own end-of-period wealth can be maximized when the manager's wealth function is dependent on vested interests both within and outside of the firm, possibly in competition with the firm. Through analytical work, it is demonstrated that a change in fixed costs of the firm affects not only the production decision of a manager, but also his orher decision to invest in risky assets. The direction of this fixed cost effect depends on the particular type of risk aversion displayed by the manager. From the analytical work, five propositions are developed for empirical investigation in the future.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00367499
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 53
    Electronic Resource
    Electronic Resource
    Time diversification and security preferences: A stochastic dominance analysis (1996)
    Springer
    Review of quantitative finance and accounting 7 (1996), S. 289-298 
    Details
    ISSN: 1573-7179
    Keywords: time diversification ; stochastic dominance ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We use stochastic dominance to test whether investor should prefer riskier securities as the investment horizon lengthens. Return distributions for stocks, bonds, and U.S. Treasury bills are generated for holding periods of one to 25 years by simulation. For each holding period, stochastic dominance tests are run to establish preferences between the alternative security classes. Contrary to previous mean-variance based studies, we find no evidence that high-risk securities (stocks) dominate low-risk securities (bonds, Treasury bills) as the investment horizon lengthens. However, we do find that corporate bonds systematically dominate government bonds.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00245255
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 54
    Electronic Resource
    Electronic Resource
    Proof of global stability, transitional dynamics, and international capital flows in a two-country model of innovation and growth (1996)
    Springer
    Journal of economics 64 (1996), S. 53-84 
    Details
    ISSN: 1617-7134
    Keywords: convergence ; international trade ; international capital flows ; stability ; endogenous growth ; F12 ; O41
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Global stability properties of dynamic two-country models can be easily studied in the case of perfect international capital flows. With internationally constant relative productivities, balanced-growth path values for factor prices will hold on any path leading to the balanced-growth path unless one country experiences a period of no innovation. Innovation rates converge in the case of perfect international knowledge spillovers but long-run consumption levels and trade patterns are path-dependent. GDP per capita is predicted to converge slowly despite the presence of perfect international capital markets and no explicit inclusion of adjustment costs. The trade balance of the rich country is initially positive but after some time turns into a deficit.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01237525
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 55
    Electronic Resource
    Electronic Resource
    Choosing the right instrument (1996)
    Springer
    Environmental and resource economics 8 (1996), S. 399-416 
    Details
    ISSN: 1573-1502
    Keywords: environmental taxes ; tradable permits ; excess burden ; tax revenues ; uncertainty ; secondbest policy
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract This paper analyses the optimal choice of second-best optimal environmental policies. Using a partial equilibrium model, the paper first reconfirms the well-known result that the existence of a double dividend (in its weak definition) favours environmental policy instruments which maximise tax revenues for a given improvement in environmental quality. Additional revenues can be used to reduce the distortion of existing taxes such as taxes on labour and capital income. Without uncertainty, environmental taxes and auctioned permits are equally appropriate. In the presence of uncertainty, however, the optimal choice of taxes or tradable permits depends on the relative magnitudes of the marginal environmental damage and the marginal benefit from consuming a polluting good. In the second part, the paper, therefore, analyses how the revenue capacity affects the optimal choice of environmental policy instruments in the presence of uncertainty. The paper shows that the first-best choice rule between price and quantity regulation (Weitzman, 1974) remains valid in a second-best world with distortionary taxation.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00357410
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 56
    Electronic Resource
    Electronic Resource
    Stability in multistage stochastic programming (1995)
    Springer
    Annals of operations research 56 (1995), S. 79-93 
    Details
    ISSN: 1572-9338
    Keywords: Multistage stochastic programs ; optimization in Banach spaces ; stability ; approximation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract Multistage stochastic programs are regarded as mathematical programs in a Banach spaceX of summable functions. Relying on a result for parametric programs in Banach spaces, the paper presents conditions under which linearly constrained convex multistage problems behave stably when the (input) data process is subjected to (small) perturbations. In particular, we show the persistence of optimal solutions, the local Lipschitz continuity of the optimal value and the upper semicontinuity of optimal sets with respect to the weak topology inX. The linear case with deterministic first-stage decisions is studied in more detail.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02031701
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 57
    Electronic Resource
    Electronic Resource
    Time and risk (1995)
    Springer
    Journal of risk and uncertainty 10 (1995), S. 37-55 
    Details
    ISSN: 1573-0476
    Keywords: uncertainty ; intertemporal choice ; life-cycle ; stochastic dominance ; temporal dominance
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Intertemporal choice has obvious similarities with choice under uncertainty. However, because of technical difficulties in mapping results between the two domains, theoretical analysis of these topics has proceeded independently. In this article, we show that, using Rank Dependent Expected Utility rather than Expected Utility as the basic uncertain choice model, numerous analogies between the two fields may be identified and exploited. The key result is the derivation of a natural analogy between risk-aversion and impatience. This permits the reinterpretation of well-known results on stochastic dominance and comparative risk-aversion in the context of intertemporal choice. It is also possible to reinterpret results on intertemporal optimization in order to derive new results for portfolio choice problems under uncertainty.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01211527
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 58
    Electronic Resource
    Electronic Resource
    Decision making under ignorance: Arguing with yourself (1995)
    Springer
    Journal of risk and uncertainty 10 (1995), S. 15-36 
    Details
    ISSN: 1573-0476
    Keywords: ambiguity ; uncertainty ; risk ; ignorance ; cognitive processes
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The metaphor of gambling has had great influence on the topic of choice under uncertainty. However, in many real-world situations, people must make choices when they lack information about the relevant economic features of gambles, i.e., probabilities and outcomes. We refer to this as choice under ignorance as opposed to choice under risk or uncertainty. We propose that people handle these decisions by generating rationales or arguments that allow them to resolve the choice conflict. Moreover, these rationales often do not correspond to principles derived from the cost-benefit framework of economic models. These ideas are explored in two experiments in which subjects simulated the purchase of warranties for consumer durables. Our principal findings are, first, that observable behaviors differ between situations where subjects do and do not have information on probabilities and outcomes. Second, economic cost-benefit models did not yield good descriptions of our subjects' decisions. Third, the nature of arguments used, and thus the processes invoked, differed as a function of the information available to subjects. And fourth, subjects' arguments indicated two types of strategies for reaching decisions. In one, they processed the particular characteristics of each choice option; in the other, they invoked a “meta-rule” or principle that resolved the choice conflict and was insensitive to the particular features of different options. Finally, we discuss the implications of our results. This includes questioning the appropriateness of using the gamble as a metaphor for choice in future research.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01211526
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 59
    Electronic Resource
    Electronic Resource
    Guaranteed renewability in insurance (1995)
    Springer
    Journal of risk and uncertainty 10 (1995), S. 143-156 
    Details
    ISSN: 1573-0476
    Keywords: uncertainty ; insurance ; renewability ; competition
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We propose a guaranteed renewability (GR) insurance in which a sequence of premiums would enable insurers to break even and would be chosen by both low- and high-risk buyers, whether or not they had suffered a loss. The premium schedule would continually decline over time, as the insurer collects more information to determine who the low-risk buyers are. The highest premiums are charged initially to protect the insurer if low-risk individuals leave for the spot market. The concluding portion of the article discusses the limitations of a GR policy in the health and environmental liability area, the most serious being instability in estimates of underlying loss trends.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01083557
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 60
    Electronic Resource
    Electronic Resource
    The damage costs of climate change toward more comprehensive calculations (1995)
    Springer
    Environmental and resource economics 5 (1995), S. 353-374 
    Details
    ISSN: 1573-1502
    Keywords: Climate change damage costs ; cost functions ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract It is argued that estimating the damage costs of a certain benchmark climate change is not sufficient. What is needed are cost functions and confidence intervals. Although these are contained in the integrated models and their technical manuals, this paper brings them into the open in order to stimulate discussion. After briefly reviewing the benchmark climate change damage costs, region-specific cost functions are presented which distinguish tangible from intangible losses and the losses due to a changing climate from those due to a changed climate. Furthermore, cost functions are assumed to be quadratic, as an approximation of the unknown but presumably convex functions. Results from the damage module of the integrated climate economy modelFUND are presented. Next, uncertainties are incorporated and expected damages are calculated. It is shown that because of convex loss functions and right-skewed uncertainties, the risk premium is substantial, calling for more action than analysis based on best-guess estimates. The final section explores some needs for further scientific research.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00691574
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 61
    Electronic Resource
    Electronic Resource
    Risk analysis and asset valution: A Monte Carlo Simulation using stochastic rents (1995)
    Springer
    The journal of real estate finance and economics 11 (1995), S. 177-187 
    Details
    ISSN: 1573-045X
    Keywords: asset valuation ; simulation ; risk ; stochastic rent
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Introduction of the Present Value Distribution Model (PVD) offers an alternative method for the valuation of projects yielding intertemporal stochastic rents. A combination of concepts from many areas of the literature yields the given model. The base procedure relies on Monte Carlo Simulation with the application of recently established theories on stochastic rents, path dependent cash flow trajectories, and period dependent discount rates. Among the benefits of the (PVD) are exogenous risk discounting and consistent distribution determination. Risk discounting is applied to the resultant of the distribution model rather than within the model. Furthermore, the present value distributions are independent of analyst's perceptions yielding an objective single period gamble.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098661
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 62
    Electronic Resource
    Electronic Resource
    Oligopoly and behavioral uncertainty: An application of fuzzy set theory (1995)
    Springer
    Review of industrial organization 10 (1995), S. 269-288 
    Details
    ISSN: 1573-7160
    Keywords: Oligopoly ; uncertainty ; fuzzy mathematics ; Herfindahl-Hirschman ; antitrust
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper provides a brief sketch of fuzzy mathematics. It employs this relatively new mathematical tool to define and describe oligopoly markets and to quantitatively establish the impacts of uncertainty on the decision making that is intrinsic to oligopolistic industries. It illustrates how the technique would be used, for example, by applying fuzzy mathematics to the Herfindahl-Hirschman Index.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01027075
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 63
    Electronic Resource
    Electronic Resource
    Judged knowledge and ambiguity aversion (1995)
    Springer
    Theory and decision 39 (1995), S. 51-77 
    Details
    ISSN: 1573-7187
    Keywords: Ambiguity ; competence ; knowledge ; decision making ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract Competence has recently been proposed as an explanation for the degree of ambiguity aversion. Using general knowledge questions we presented subjects with simple lotteries in which they could bet on an event and against the same event. We show that the sum of certainty equivalents for both bets depends on the judged knowledge of the class of events. We also elicited the decision weights for events and complementary events. We found a similar effect of knowledge on the sum of decision weights.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01078869
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 64
    Electronic Resource
    Electronic Resource
    Estimation of the greenhouse gas externality with uncertainty (1995)
    Springer
    Environmental and resource economics 5 (1995), S. 71-82 
    Details
    ISSN: 1573-1502
    Keywords: Externality ; greenhouse ; estimation ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract The shadow price of carbon dioxide is the value of the external damage caused by an emission. A shadow price model for calculating the present value of the external damage of a carbon dioxide emission is derived explicitly. Sixteen experts provided subjective high, low and most likely parameter estimates because correct values for the eight model parameters are uncertain. The estimation procedure retains parameter uncertainty while generating the main result, which is a distribution of shadow price estimates. Major assumptions made in the estimation identify the basis for the results. Of the eight model parameters, the discount rate dominates the determination of the shadow price. For comparison, expert estimates of the shadow price itself provide a second distribution of shadow price estimates.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00691910
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 65
    Electronic Resource
    Electronic Resource
    Stability results for approximately efficient solutions (1994)
    Springer
    OR spectrum 16 (1994), S. 47-52 
    Details
    ISSN: 1436-6304
    Keywords: Vector optimization ; approximately efficient solutions ; stability ; Vektoroptimierung ; Näherungslösungen ; Stabilität
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Wir führen ein Konzept für Näherungslösungen in der Vektoroptimierung ein und vergleichen dieses mit einem neuen Konzept aus [8]. Weiterhin untersuchen wir Beziehungen zwischen der Menge der Näherungslösungen eines Vektoroptimierungsproblems und den Näherungslösungen eines entsprechenden parametrischen Ersatzproblems. Schließlich beweisen wir Stabilitätseigenschaften des skalaren Ersatzproblems.
    Notes: Abstract We introduce a concept for approximately efficient solutions in vector optimization and compare it with another recent concept given in [8]. Further, we study relations between the set of approximately efficient solutions of a vector optimization problem and the approximate solutions of a corresponding parametric surrogate optimization problem. Finally, we prove stability properties for the scalar surrogate problem.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01719703
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 66
    Electronic Resource
    Electronic Resource
    Efficiency improvement techniques (1994)
    Springer
    Annals of operations research 53 (1994), S. 175-197 
    Details
    ISSN: 1572-9338
    Keywords: Variance reduction ; simulation ; control variates ; importance sampling ; common random numbers ; stratification ; conditioning ; efficiency
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract This paper provides an overview of the five most commonly used statistical techniques for improving the efficiency of stochastic simulations: control variates, common random numbers, importance sampling, conditional Monte Carlo, and stratification. The paper also describes a mathematical framework for discussion of efficiency issues that quantifies the trade-off between lower variance and higher computational time per observation.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02136829
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 67
    Electronic Resource
    Electronic Resource
    Autoregressive-output-analysis methods revisited (1994)
    Springer
    Annals of operations research 53 (1994), S. 391-418 
    Details
    ISSN: 1572-9338
    Keywords: Autoregressive process ; confidence interval ; output analysis ; simulation ; statistics ; time series
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract We revisit and update the autoregressive-output-analysis method for constructing a confidence interval for the steady-state mean of a simulated process by using Rissanen's predictive least-squares criterion to estimate the autoregressive order of the process. This order estimator is strongly consistent when the output is autoregressive. The order estimator is combined with the standard autoregressive-output-analysis method to form a confidence-interval procedure. Alternatives for estimating the degrees of freedom for the procedure are investigated. The main result is an asymptotically valid confidence-interval procedure that, empirically, has good small-sample properties.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02136836
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 68
    Electronic Resource
    Electronic Resource
    SIMULEX — a multiattribute DSS to solve rescheduling problems (1994)
    Springer
    Annals of operations research 52 (1994), S. 107-129 
    Details
    ISSN: 1572-9338
    Keywords: DSS ; intelligent front-ends ; knowledge-based systems ; MADM ; outranking ; Scheduling ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract Knowledge-based systems (KBS) can help to make simulation available to a large group of users. We want to exemplify this by describing a decision support system (DSS) for short term rescheduling in manufacturing called SIMULEX. It couples expert systems, simulation, and a multiattribute decision making (MADM) procedure to assist the production manager. After an introduction to simulation as a problem solving tool, the current problems in production control and the goals of the project are described. Then, the various components of SIMULEX are explained in some detail. Some results and a short outlook conclude the article.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02032125
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 69
    Electronic Resource
    Electronic Resource
    Sequential stability of the constant cost dynamic lot size model-searching for monotonicity (1994)
    Springer
    OR spectrum 15 (1994), S. 197-203 
    Details
    ISSN: 1436-6304
    Keywords: Inventory ; dynamic programming ; stability ; Lagerhaltung ; Dynamische Optimierung ; Stabilität
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Die Menge der Kostenparameter, für die eine optimale Lösung des dynamischen Losgrößenmodells optimal bleibt wird hier Stabilitätsregion genannt. Die Größe einer solchen Menge kann als Maß der Robustheit einer Lösung angesehen werden. Es ist zu erwarten, daß die Stabilitätsregionen mit wachsendem Zeithorizont schrumpfen und daß sie in diesem Sinne monoton sind. In der vorliegenden Arbeit werden verschiedene hinreichende Bedingungen für diese Monotonie untersucht. Die Bedingungen setzen unter anderem die Existenz von Planungs- und Vorhersage-Horizonten voraus und verallgemeinern so Ergebnisse einer früheren Arbeit, in der Aussagen für gewöhnliche Planungs-Horizonte vorgestellt wurden.
    Notes: Abstract The set of cost inputs for which an optimal solution of the dynamic lot size model remains valid is called stability region. The size of this region may be viewed as a measure of robustness of a solution. It is an expectation that the stability regions shrink with growing time horizons and that they are monotonous in this sense. In the present paper several sufficient conditions implying monotonicity will be studied. The conditions cover the existence of planning and forecast horizons and generalize the results of a previous paper in wich monotonicity results were presented for the case of ordinary planning horizons.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01719450
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 70
    Electronic Resource
    Electronic Resource
    Regret theory with general choice sets (1994)
    Springer
    Journal of risk and uncertainty 8 (1994), S. 153-165 
    Details
    ISSN: 1573-0476
    Keywords: regret theory ; stochastic dominance ; choice ; uncertainty ; 026
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The regret theory of choice under uncertainty proposed by Loomes and Sugden has performed well in explaining and predicting violations of Expected Utility theory. The original version of the model was confined to pairwise choices, which limited its usefulness as an economic theory of choice. Axioms for a more general form of regret theory have been proposed by Loomes and Sugden. In this article, it is shown that a simple nonmanipulability requirement is sufficient to characterize the functional form for regret theory with general choice sets. The stochastic dominance and comparative static properties of the model are outlined. A number of special cases are derived in which regret theory is equivalent to other well-known theories of choice under uncertainty.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01065370
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 71
    Electronic Resource
    Electronic Resource
    Expected utility with lower probabilities (1994)
    Springer
    Journal of risk and uncertainty 8 (1994), S. 197-216 
    Details
    ISSN: 1573-0476
    Keywords: expected utility theory ; belief functions ; lower probability ; uncertainty ; D81
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract An uncertain and not just risky situation may be modeled using so-called belief functions assigning lower probabilities to subsets of outcomes. In this article we extend the von Neumann-Morgenstern expected utility theory from probability measures to belief functions. We use this theory to characterize uncertainty neutrality and different degrees of uncertainty aversion.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01065372
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 72
    Electronic Resource
    Electronic Resource
    Advances in random utility models report of the workshop on advances in random utility models duke invitational symposium on choice modeling behavior (1994)
    Springer
    Marketing letters 5 (1994), S. 311-322 
    Details
    ISSN: 1573-059X
    Keywords: multinomial probit ; semiparametric estimation ; Bayesian estimation ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In recent years, major advances have taken place in three areas of random utility modeling: (1) semiparametric estimation, (2) computational methods for multinomial probit models, and (3) computational methods for Bayesian estimation. This paper summarizes these developments and discusses their implications for practice.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00999207
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 73
    Electronic Resource
    Electronic Resource
    Economic growth with environmental damage and technical progress (1994)
    Springer
    Environmental and resource economics 4 (1994), S. 241-249 
    Details
    ISSN: 1573-1502
    Keywords: Economic growth ; pollution control ; technical progress ; tradeable pollution permits ; stability
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract The papers on economic growth with environmental constraints usually ignore the effect of technical progress, this results in static steady state solutions. This paper examines the problem of optimal economic growth with environmental damage, technical progress taken into account, which produces a steady state solution that corresponds to an equilibrium growth, with non-constant emissions and pollutant stock. As a means of steering the economy along the optimal path, two types of tradeable pollution permits are analyzed. The method of stabilizing the optimal path, leading to a steady state, is suggested.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00692326
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 74
    Electronic Resource
    Electronic Resource
    The utility of gambling (1993)
    Springer
    Journal of risk and uncertainty 6 (1993), S. 255-275 
    Details
    ISSN: 1573-0476
    Keywords: gambling ; risk ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract A tiny utility of gambling is appended to an expected utility model for a risk-averse individual. It is shown that the model can explain small payoff gambles, large prize lotteries, and patterns of risk-seeking in the experimental evidence that are puzzling from the viewpoint of standard theory. At the same time, the model maintains expected utility theory's ability to explain insurance purchase, portfolio diversification, and other risk-averting behavior. The tiny utility of gambling could equally well be appended to models of risky choice other than the expected utility model.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01072614
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 75
    Electronic Resource
    Electronic Resource
    Insurer ambiguity and market failure (1993)
    Springer
    Journal of risk and uncertainty 7 (1993), S. 71-87 
    Details
    ISSN: 1573-0476
    Keywords: insurer ambiguity ; uncertainty ; market failure ; decision making
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract A series of studies investigate the decision processes of actuaries, underwriters, and reinsurers in setting premiums for ambiguous and uncertain risks. Survey data on prices reveal that all three types of these insurance decision makers are risk averse and ambiguity averse. In addition, groups appear to be influenced in their premium-setting decisions by specific reference points such as expected loss and the concern with insolvency. This behavior is consistent with a growing analytical and empirical literature in economics and decision processes that investigates the role that uncertainty plays on managerial choices. Improved risk-assessment procedures and government involvement in providing protection against catastrophic losses may induce insurers to reduce premiums and broaden available coverage.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01065315
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 76
    Electronic Resource
    Electronic Resource
    Analysis, modeling, and the management of international negotiations (1993)
    Springer
    Theory and decision 34 (1993), S. 275-291 
    Details
    ISSN: 1573-7187
    Keywords: Negotiation modeling ; simulation ; fairness ; consensus rules ; statistical analysis ; information systems
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract Negotiation management, a framework for practical implementation of computer-based support to negotiators and their staffs, is defined and described in this paper. In particular, three integrated tools and their underlying methodologies, are illustrated. The collaborative use of computers and information techniques in complex negotiation is framed in terms of a ‘discovery and design’ paradigm in which parties engage in dialogue, learn, and develop trust that can support the negotiation itself through a process of joint analysis and modeling.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01075193
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 77
    Electronic Resource
    Electronic Resource
    Models of stochastic geometry — A survey (1993)
    Springer
    Mathematical methods of operations research 38 (1993), S. 235-260 
    Details
    ISSN: 1432-5217
    Keywords: Boolean model ; damaged forests ; mark correlation function ; marked point process ; M/G/∞ ; random compact set ; simulation ; spatial correlation ; spatial statistics ; stochastic model ; tumor
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract This paper discusses some models of stochastic geometry which are of potential interest for operations research. These are the Boolean model, a certain model for random compact sets and marked point processes. The Boolean model is a generalization of the well-known queueing systemM/G/∞. The random compact set model may be useful for modelling spatial spreading processes such as fires, cancers or holes in the Earth's surface. Marked point processes are used here as models of forests and used for a statistical study of the spatial distribution of damaged trees.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01416606
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 78
    Electronic Resource
    Electronic Resource
    Conditioning for variance reduction in estimating the sensitivity of simulations (1992)
    Springer
    Annals of operations research 39 (1992), S. 157-172 
    Details
    ISSN: 1572-9338
    Keywords: Score function method ; likelihood ratio ; sensitivity analysis ; simulation ; Monte Carlo methods ; conditioning
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract We consider first a discrete event static system that is to be simulated at values of a parameter or vector of parametersθ. The system is assumed driven by an inputX, where typicallyX is a vector of variables whose densityf θ (x) depends on the parameterθ. For the purpose of optimizing, finding roots, or graphing the expected performanceE θ L(X) for performance measureL, it is useful to estimate not only the expected value but also its gradient. An unbiased estimator for the latter is the score function estimator $$L(X)S(\theta ) = L(X)\frac{\partial }{{\partial \theta }}\ln f_\theta (x).$$ This estimator and likelihood ratio analogues typically require variance reduction, and we consider conditioning on the value of the score function for this purpose. The efficiency gains due to performing the Monte Carlo conditionally can be very large. Extension to discrete event dynamic systems such as theM/G/1 queue and other more complicated systems is considered.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02060940
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 79
    Electronic Resource
    Electronic Resource
    Stochastic quasigradient methods for optimization of discrete event systems (1992)
    Springer
    Annals of operations research 39 (1992), S. 1-39 
    Details
    ISSN: 1572-9338
    Keywords: Stochastic programming ; stochastic quasigradient methods ; discrete event systems ; simulation ; concurrent approximation and optimization
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract In this paper, stochastic programming techniques are adapted and further developed for applications to discrete event systems. We consider cases where the sample path of the system depends discontinuously on control parameters (e.g. modeling of failures, several competing processes), which could make the computation of estimates of the gradient difficult. Methods which use only samples of the performance criterion are developed, in particular finite differences with reduced variance and concurrent approximation and optimization algorithms. Optimization of the stationary behavior is also considered. Results of numerical experiments and convergence results are reported.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02060934
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 80
    Electronic Resource
    Electronic Resource
    Recent developments in modeling preferences: Uncertainty and ambiguity (1992)
    Springer
    Journal of risk and uncertainty 5 (1992), S. 325-370 
    Details
    ISSN: 1573-0476
    Keywords: ambiguity ; uncertainty ; Ellsberg paradox ; nonexpected utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In subjective expected utility (SEU), the decision weights people attach to events are their beliefs about the likelihood of events. Much empirical evidence, inspired by Ellsberg (1961) and others, shows that people prefer to bet on events they know more about, even when their beliefs are held constant. (They are averse to ambiguity, or uncertainty about probability.) We review evidence, recent theoretical explanations, and applications of research on ambiguity and SEU.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00122575
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 81
    Electronic Resource
    Electronic Resource
    Industry performance indices and the economics of information: New perspectives and caveats (1992)
    Springer
    Review of industrial organization 7 (1992), S. 83-90 
    Details
    ISSN: 1573-7160
    Keywords: Concentration ; performance ; index ; information ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Industry indices, be they conduct or performance based, frequently guide government intervention activities and are used for both predictive and prescriptive purposes. Unfortunately, few existing indices of industrial concentration are based on underlying economic theory, and those that are based on theory are based on models of perfect information. We derive a general performance measure relevant for industries that experience imperfect information. We do so by specifying a social welfare function that reflects the objectives of the policymaker and maps characteristics of industry equilibria under uncertainty into a real number that summarizes industry performance. The importance of explicitly accounting for the information structure of an industry is illustrated by deriving a reduced form for the performance measure valid when a monopolist faces random demand.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00354849
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 82
    Electronic Resource
    Electronic Resource
    On generalized measures of realization in uncertain environments (1992)
    Springer
    Theory and decision 33 (1992), S. 41-69 
    Details
    ISSN: 1573-7187
    Keywords: Probability ; aggregation ; t-norm ; uncertainty ; ordered weighted average
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract We concern ourselves with the problem of determining the overall degree or measure of realization of an object based upon its occurrence in a collection of individual phenomena. We show that while probability is the classic measure of this type, it is but one of a whole family of possible such measures. We use the OWA operator to provide this family of measures. We investigate the situation in which our observations are both specific elements and subsets of some base set.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00133982
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 83
    Electronic Resource
    Electronic Resource
    Failures of the reduction principle in an Ellsberg-type problem (1992)
    Springer
    Theory and decision 32 (1992), S. 77-100 
    Details
    ISSN: 1573-7187
    Keywords: uncertainty ; experimental economics ; reduction principle
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract Segal (1987) suggested that the Ellsberg paradox might be explained in terms of individuals mentally representing the decision problem as a two-stage lottery which they evaluated according to a non-expected utility model. This paper describes an experiment involving an explicitly two-stage analogue to an Ellsberg-type problem. This design substantially reduces the frequency of classic Ellsberg behaviour, but reveals other systematic violations of conventional theory. The paper discusses the particular patterns of choice and raises the more general problem of modelling individual decisions when the reduction principle does not hold.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00133629
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 84
    Electronic Resource
    Electronic Resource
    A comparison of heuristic algorithms for cost-oriented assembly line balancing (1992)
    Springer
    Mathematical methods of operations research 36 (1992), S. 477-495 
    Details
    ISSN: 1432-5217
    Keywords: Cost-oriented assembly line balancing ; heuristic algorithms ; worst-case analysis ; simulation ; NP-completeness ; time complexity
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract Two new heuristic algorithms for solving cost-oriented assembly line balancing problems -the Wage-Rate-Method (WR) and the Wage-Rate-Smoothing-Method (WRS) — are presented and compared with two known heuristics — the Positional-Weight-Method (PW) and the Positional-Weight-Wage-Rate-Difference-Method (PWWD) with respect to their solution qualities. Firstly, the heuristics are outlined and their computational effort is stated. Then, a theoretical worst-case bound for the solution quality is given and the results of an extensive performance study are reported. In the study the heuristics were investigated with respect to their solution quality by solving randomly generated line balancing problems and problems from literature. It can be concluded that PWWD and WRS are generally superior to PW and WR.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01416240
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 85
    Electronic Resource
    Electronic Resource
    An application of ESL to a stochastic dynamic market model with free entry and exit (1992)
    Springer
    Computational economics 5 (1992), S. 105-118 
    Details
    ISSN: 1572-9974
    Keywords: Economic models ; simulation ; simulation language
    Source: Springer Online Journal Archives 1860-2000
    Topics: Computer Science , Economics
    Notes: Abstract The application of a new simulation language (ESL) is demonstrated through a stochastic dynamic market model with free entry and exit. Since ESL allows us to specify single economic units and to coordinate all their activities, the details of a microeconomic process can be described. The market model consists of different types of producers and consumers, whose actions can be simulated under changing structural conditions.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00436484
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 86
    Electronic Resource
    Electronic Resource
    The problem of locating facilities causing airborne pollution revisited (1991)
    Springer
    OR spectrum 13 (1991), S. 159-166 
    Details
    ISSN: 1436-6304
    Keywords: Facility location for obnoxious facilities ; Gaussian model ; simulation ; Standortplanung für umweltbelastende Anlagen ; Gauß-Modell ; Simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung In dieser Arbeit werden zunächst die in neuerer Zeit entwickelten wind-diskreten Modelle und Verfahren zur Standortplanung für unerwünschte, umweltbelastende Anlagen analysiert und die Grenzen dieser Ansätze für die Lösung praktischer Problemstellungen aufgezeigt. Basierend auf diesen Erkenntnissen wird ein simulations-basiertes Verfahren für ein neues wind-stetiges Modell vorgestellt, das diese Schwachstellen überwindet. Abschließend wird das Basis-Standortmodell durch Einbeziehung der Emissionshöhe als Entscheidungsvariable erweitert.
    Notes: Summary The present paper regards the location of obnoxious facilities in the context of a realistic environment. Efforts have been made in the past towards this direction, without much success as fas as the modeling is concerned. The prevailing meteorological conditions of the area under consideration, that evidently play an important role in the dispersion of pollution, either were completely ignored or inadequately considered. In this work, the most recent wind-discrete models and solution methods are presented and analyzed and their limitations are identified. A new simulation-aided wind-continuous model is introduced capable of remedying the above limitations. Finally, a generalization is proposed and discussed, regarding the introduction of the stack height as a decision variable in the relative model.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01720150
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 87
    Electronic Resource
    Electronic Resource
    Cognitive rationality and alternative belief measures (1991)
    Springer
    Journal of risk and uncertainty 4 (1991), S. 299-324 
    Details
    ISSN: 1573-0476
    Keywords: uncertainty ; probability ; rationality ; belief
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this article, we first examine the various criticisms of the probabilistic model. Then we introduce capacities in order to show that if a probability measure corresponds to anesthetizing the belief of the agent's knowledge, it is then possible to suggest another type of rationality—namely, being able to describe a wise and a rash behavior when facing risk—and therefore another model of belief under uncertainty. While trying to specify various alternative measures, possibility, necessity, and measures resulting from a triangular norm or from a triangular conorm, we finally try to define the field of application of the probabilistic model as well as a sign of the rationality choice: constraint of mass-unity for traditional rationality, and constraint of duality for the one we present.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00114159
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 88
    Electronic Resource
    Electronic Resource
    Preference and belief: Ambiguity and competence in choice under uncertainty (1991)
    Springer
    Journal of risk and uncertainty 4 (1991), S. 5-28 
    Details
    ISSN: 1573-0476
    Keywords: ambiguity ; uncertainty ; preferences
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We investigate the relation between judgments of probability and preferences between bets. A series of experiments provides support for the competence hypothesis that people prefer betting on their own judgment over an equiprobable chance event when they consider themselves knowledgeable, but not otherwise. They even pay a significant premium to bet on their judgments. These data connot be explained by aversion to ambiguity, because judgmental probabilities are more ambiguous than chance events. We interpret the results in terms of the attribution of credit and blame. The possibility of inferring beliefs from preferences is questioned.1
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00057884
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 89
    Electronic Resource
    Electronic Resource
    A rational expectations equilibrium model of urban growth and land markets (1991)
    Springer
    The journal of real estate finance and economics 4 (1991), S. 225-265 
    Details
    ISSN: 1573-045X
    Keywords: Land market ; uncertainty ; rational expectations ; urban growth
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper presents a simple model of urban spatial growth under uncertainty with an infinite time horizon. The rational expectations equilibrium path (REE path) of the urban land market is obtained in explicit form as a function of exogenously given stochastic processes of future population, transport and household income in the city. Spatial and temporal characteristics of asset prices along the REE path are examined in detail.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00173126
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 90
    Electronic Resource
    Electronic Resource
    Uncertainty during tender offers and the measurement of shareholder wealth effects (1991)
    Springer
    Review of quantitative finance and accounting 1 (1991), S. 399-407 
    Details
    ISSN: 1573-7179
    Keywords: tender offers ; uncertainty ; shareholder wealth ; gains measurement
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Uncertainty concerning the ultimate outcome of tender offers may affect the measurement of changes in shareholder wealth. The uncertainty regarding the outcome of tender offers is measured by estimating the probability of acceptance of tender offers during the period when the tender offers are outstanding. The estimated probability of acceptance of tender offers implies that the amount of uncertainty prior to knowledge of the ultimate outcome is substantial and affects the measurement of expected equity gains. The uncertainty-adjusted measure of the change in shareholder wealth indicates that previous studies may have underestimated the gains expected to result from tender offers.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02408399
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 91
    Electronic Resource
    Electronic Resource
    Communication of ambiguous risk information (1991)
    Springer
    Theory and decision 31 (1991), S. 159-173 
    Details
    ISSN: 1573-7187
    Keywords: ambiguity ; uncertainty ; Ellsberg Paradox ; information
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract This paper reports on the responses of 646 individuals to environmental risk information involving different forms of risk ambiguity. Recipients of more than one set of risk information do not simply average the risk levels provided. Rather, a variety of aspects of the nature of the risks that are communicated influence their probabilistic beliefs. Individuals' perceptions of the risk levels to which they are exposed are likely to be greater: (i) for more ambiguous risks, (ii) for risks for which the unfavorable risk evidence is presented last even when there is no temporal order, (iii) for risks for which the most unfavorable risk studies have been performed most recently, and (iv) for risks where there is asymmetry in the risk ambiguity that imposes substantial potential downside risks. Although these effects are modest for the median individual, the potential for extreme responses that reflect only the most adverse or the most favorable piece of information provided is quite prevalent. These findings are of interest more generally in that they indicate how individuals form their risk perceptions in the presence of risk ambiguity.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00132991
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 92
    Electronic Resource
    Electronic Resource
    Bifurcations in parametric nonlinear programming (1990)
    Springer
    Annals of operations research 27 (1990), S. 343-369 
    Details
    ISSN: 1572-9338
    Keywords: Bifurcation ; singularities ; continuation ; parametric nonlinear programming ; stability
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract Bifurcation and continuation techniques are introduced as a class of methods for investigating the parametric nonlinear programming problem. Motivated by the Fritz John first-order necessary conditions, the parametric programming problem is first reformulated as a closed system of nonlinear equations which contains all Karush-Kuhn-Tucker and Fritz John points, both feasible and infeasible solutions, and relative minima, maxima, and saddle points. Since changes in the structure of the solution set and critical point type can occur only at singularities, necessary and sufficient conditions for the existence of a singularity are developed in terms of the loss of a complementarity condition, the linear dependence constraint qualification, and the singularity of the Hessian of the Lagrangian on a tangent space. After a brief introduction to elementary bifurcation theory, some simple singularities in this parametric problem are analyzed for both branching and persistence of local minima. Finally, a brief introduction to numerical continuation and bifurcation procedures is given to indicate how these facts can be used in a numerical investigation of the problem.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02055201
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 93
    Electronic Resource
    Electronic Resource
    A tale of two tails: An alternative characterization of comparative risk (1990)
    Springer
    Journal of risk and uncertainty 3 (1990), S. 65-82 
    Details
    ISSN: 1573-0476
    Keywords: risk ; uncertainty ; mean-preserving spreads ; star-shape
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract A characterization of comparative risk, parallel to but more restrictive than the Rothschild-Stiglitz (1970) characterization, is developed. As in Rothschild and Stiglitz, we develop a four-way characterization that consists of generating processes (a noise condition and generation by a sequence of special mean-preserving spreads), integral conditions, and preferences. The building blocks of this new order, Mean-preserving increases in risk about ν, where ν is any constant, are mean-preserving spreads whose centers have a nonempty intersection. If this intersection contains the mean of the distribution, the induced order, or mean-preserving increase in risk about the mean, conveys a particularly meaningful notion of an increase in risk as a buildup of the tails of the distribution.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00213261
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 94
    Electronic Resource
    Electronic Resource
    Decision problems under uncertainty based on entropy functionals (1990)
    Springer
    Theory and decision 28 (1990), S. 143-172 
    Details
    ISSN: 1573-7187
    Keywords: Entropy ; decision analysis ; information economics ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract This essay intends to define the role of entropy, in particular, the role of the maximum entropy criterion with respect to decision analysis and information economics. By considering the average opportunity loss interpretation, the basic hypothesis for Shannon's derivation can be derived from properties of decision problems. Using the representation Bayes Boundary it is possible to show that selecting a single probability from a set by the Maximum Entropy Criterion corresponds to a minimax criterion for decision-making. Since problems of randomly accessing and storing information as well as communicating information can often be stated in terms of coding problems, this result might be used to develop strategies for minimizing retrieval time or communication costs.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00160933
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 95
    Electronic Resource
    Electronic Resource
    Structuring and simulating negotiation: An approach and an example (1990)
    Springer
    Theory and decision 28 (1990), S. 243-273 
    Details
    ISSN: 1573-7187
    Keywords: Negotiation ; structuring ; simulation ; rule-based model ; decision support ; knowledge representation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract Negotiation is a complex and dynamic decision process during which parties perceptions, preferences, and roles may change. Modelling such a process requires flexible and powerful tools. The use of rule-based formalism is therefore expanded from its traditional expert system type technique, to structuring and restructuring non-trivial processes like negotiation. Using rules we build a model of a negotiation problem. Some rules are used to infer positions and reactions of the parties, other rules are used to modify problem representation when such a modification is necessary. We illustrate the approach with a contract negotiation case between two large companies. We also show how this approach could help one party to realize that negotiations are being carried on against their assumptions and expectations.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00162700
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 96
    Electronic Resource
    Electronic Resource
    Adjusting risky situations: A theoretical framework and empirical test (1989)
    Springer
    Journal of risk and uncertainty 2 (1989), S. 189-212 
    Details
    ISSN: 1573-0476
    Keywords: Risk ; choice ; perception ; control ; adjustment ; uncertainty
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Experienced executives frequently try to modify the risky situations they face in order to make them more favorable rather than simply choosing from among available decision options. This article investigates several types of risk adjustments such as trying to influence the situation through bargaining and spending resources, gathering information, developing new options, and consulting one's superiors. A theoretical framework is presented that characterizes different types of adjustments and relates them to variables such as perceived risk, perceived control, perceived responsibility, decisiveness, and risky choice. The framework is tested using experienced decision makers who respond to four simulated risky business decisions.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00056137
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 97
    Electronic Resource
    Electronic Resource
    Cognition and uncertainty (1989)
    Springer
    Theory and decision 27 (1989), S. 93-106 
    Details
    ISSN: 1573-7187
    Keywords: cognition ; decision ; graphs ; artificial intelligence ; risk ; uncertainty ; expert systems ; expected utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract In the first part, we try to give a representation of the process by which man endeavours to grasp uncertainty. We propose a backward exploration which we will modelize through an influence diagram and then we can draw a few conclusions from that representation for the axiomatics of Decision. In the second part, we deal with the processing of the information formatted in such a way, regarding both its temporal complexity and its elective complexity. The first part as the second one dealing with representation and the consequences for information processing of uncertainty cognition lead to a severe criticism of the expected utility hypothesis. To conclude, we suggest a few remarks on expert systems of decision aid under uncertainty.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00133989
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 98
    Electronic Resource
    Electronic Resource
    Resource allocation and project selection: Control of r & d under dynamic process of data improvement (1989)
    Springer
    Theory and decision 26 (1989), S. 1-35 
    Details
    ISSN: 1573-7187
    Keywords: research and development ; resource allocation ; project selection ; uncertainty ; data improvement ; control strategy
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract This paper deals with the problem of optimal control of R&D. The fundamental aspects of this problem are viewed as: uncertainty about economic parameters of new technology (or new activity, e.g. a search for new oil fields) explored by a group of parallel projects attempting to make advances in this technology as well as improve economic data; allocation of investments among rival projects under a given total budget; timing of the ultimate selection of new technology (activity) according to the most successful project. The process of data improvement (PDI) is described as a (random) process of reducing the intervals of uncertainty, the rate of data improvement being controlled, in effect, by the investment policy. A stationary dynamic model with infinite horizon of planning and with the criterion of total discounted costs is developed. The model is carefully investigated from the economic point of view, and some new effects are discovered. It is demonstrated that uncertainty may be the source of additional gain; the bigger the initial uncertainty, the bigger the gain may be under optimal control. This effect is based on PDI, the economic background of which is presented as multiplication of the expected gain over time, which is typical for the classical macromodels of economics. Optimal continuous control is constructed at every time moment, and answers to two main questions are given: (1) either to prolong R & D or to make ultimate selection of one project, (2) how to allocate resources among the rival projects in the case of R&D prolongation. The last question is answered on the basis of profitability indices that relate efficiencies of PDI for particular projects to the costs of information.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00134054
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 99
    Electronic Resource
    Electronic Resource
    Coherent bets under partially resolving uncertainty and belief functions (1989)
    Springer
    Theory and decision 26 (1989), S. 99-105 
    Details
    ISSN: 1573-7187
    Keywords: decision theory ; uncertainty ; betting system ; Dutch book ; belief function
    Source: Springer Online Journal Archives 1860-2000
    Topics: Sociology , Economics
    Notes: Abstract By considering situations of partially resolving uncertainty, a one-to-one correspondence between belief functions and coherent betting systems à la de Finetti is shown to exist.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00159221
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 100
    Electronic Resource
    Electronic Resource
    Integrated production scheduling in large-scale flexible electronic parts manufacturing (1988)
    Springer
    Annals of operations research 15 (1988), S. 269-287 
    Details
    ISSN: 1572-9338
    Keywords: Production scheduling ; integer programming ; simulation ; flexible manufacturing ; hierarchical modelling
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract This study reports the development of a production scheduling system for the integrated management of production in large-scale, high-volume electronic assembly lines. The development of the system incorporates control and planning considerations by addressing the interaction of various subsystems. Stochastic and deterministic aspects of the problem environment are appropriately handled via relevant simulation and analytic models. By effecting a hierarchical breakdown of the problem environment, the system produces information used in practical decision making for production planning and scheduling. Procedures used encompass and address considerations for management of work-in-process, optimization of the various subsystems' performance, minimization of setup time effect, and inventory carrying costs.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02186799
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
Close ⊗
This website uses cookies and the analysis tool Matomo. More information can be found here...