Download or read book Conditional Moment Estimation of Nonlinear Equation Systems written by Joachim Inkmann and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Generalized method of moments (GMM) estimation of nonlinear systems has two important advantages over conventional maximum likelihood (ML) estimation: GMM estimation usually requires less restrictive distributional assumptions and remains computationally attractive when ML estimation becomes burdensome or even impossible. This book presents an in-depth treatment of the conditional moment approach to GMM estimation of models frequently encountered in applied microeconometrics. It covers both large sample and small sample properties of conditional moment estimators and provides an application to empirical industrial organization. With its comprehensive and up-to-date coverage of the subject which includes topics like bootstrapping and empirical likelihood techniques, the book addresses scientists, graduate students and professionals in applied econometrics.
Download or read book Conditional Moment Estimation of Nonlinear Equation Systems written by Joachim Inkmann and published by Springer. This book was released on 2000-11-06 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Generalized method of moments (GMM) estimation of nonlinear systems has two important advantages over conventional maximum likelihood (ML) estimation: GMM estimation usually requires less restrictive distributional assumptions and remains computationally attractive when ML estimation becomes burdensome or even impossible. This book presents an in-depth treatment of the conditional moment approach to GMM estimation of models frequently encountered in applied microeconometrics. It covers both large sample and small sample properties of conditional moment estimators and provides an application to empirical industrial organization. With its comprehensive and up-to-date coverage of the subject which includes topics like bootstrapping and empirical likelihood techniques, the book addresses scientists, graduate students and professionals in applied econometrics.
Download or read book Cooperative Decision Making in Common Pool Situations written by Holger I. Meinhardt and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: The monograph gives a theoretical explanation of observed cooperative behavior in common pool situations. The incentives for cooperative decision making are investigated by means of a cooperative game theoretical framework. In a first step core existence results are worked out. Whereas general core existence results provide us with an answer for mutual cooperation, nothing can be said how strong these incentives and how stable these cooperative agreements are. To clarify these questions the convexity property for common pool TU-games in scrutinized in a second step. It is proved that the convexity property holds for a large subclass of symmetrical as well as asymmetrical cooperative common pool games. Core existence and the convexity results provide us with a theoretical explanation to bridge the gap between the observation in field studies for cooperation and the noncooperative prediction that the common pool resource will be overused and perhaps endangered.
Download or read book The Complex Dynamics of Economic Interaction written by Mauro Gallegati and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy is examined by the authors as a complex interactive system. The emphasis is on the direct interaction between agents rather than on the indirect and autonomous interaction through the market mechanism. Contributions from economists and physicists emphasise the consequences for aggregate behaviour of the interaction between agents with limited rationality. Models of financial markets which exhibit many of the stylised facts of empirical markets such as bubbles, herd behaviour and long memory are presented. This includes contributions on bargaining, buyer-seller relations, the evolution of economic networks and several aspects of macro-economic behaviour. This book will be of interest to all those interested in the foundations of collective social and economic behaviour and in particular, to those concerned with the dynamics of market behaviour and recent applications of physics to economics.
Download or read book Collaborative Planning in Supply Chains written by Gregor Dudek and published by Springer Science & Business Media. This book was released on 2004 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book deals with collaborative planning, an approach to supply chain planning which aims to coordinate planning tasks of independent supply chain partners while respecting their local decision authority. The major contribution of this work is to provide a process model concerned with the decision making and negotiation aspects of collaborative planning. Taking technological means for data exchange as a given, it sketches a detailed picture of a collaborative planning process at the medium-term level of master planning, assuming that mathematical programming models are used by all partners. Building on the planning process, it indicates how financial outcomes and partner incentives are affected by the negotiations of supply quantities between buyers and suppliers, and demonstrates how supply contract terms can be adapted in order to establish a win-win situation for all partners.
Download or read book Capacity Options for Revenue Management written by Rolf Hellermann and published by Springer Science & Business Media. This book was released on 2006-10-07 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes capacity options as a flexible alternative air cargo contract type, and illustrates how capacity can be priced through option contracts. The analysis is accomplished by means of an analytical multivariate optimization model under price and demand uncertainty. A case study using data from a leading German carrier illustrates the financial potential. Finally, the author shows how capacity-option contracts integrate into the context of air cargo revenue management.
Download or read book Dynamic Inventory Management in Reverse Logistics written by Rainer Kleber and published by Springer Science & Business Media. This book was released on 2007-02-02 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: The integration of product recovery into regular production processes enables new opportunities for cost savings. In case of a dynamic planning situation, for instance when dealing with seasonality or the product life cycle, new motives for keeping stock arise. The work aims to identify those motives and to describe their effects by using methods of optimal control theory.
Download or read book Microeconometric Evaluation of Labour Market Policies written by Marco Caliendo and published by Springer Science & Business Media. This book was released on 2006-01-23 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: The evaluation of labour market and other public policies has become increasingly important in recent years. In an era of tight government budgets, a thorough analysis of these measures is imperative. This book provides a comprehensive overview and assessment of the most relevant microeconometric evaluation methods. It focuses on the popular propensity score matching method and gives extensive guidance for its implementation. In the second part of the book, this method is used to evaluate the employment effects of job creation schemes on the participating individuals in Germany. Based on a large administrative dataset of over 11,000 participants, the study allows to draw policy-relevant conclusions for the first time.
Download or read book Strategic Competition in Oligopolies with Fluctuating Demand written by Leslie Neubecker and published by Springer Science & Business Media. This book was released on 2006-02-17 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dynamic oligopolistic competition has implications both for the strategic management of firms and for the design of an effective competition policy. Consequently, the present book considers the issue from a private and social perspective. It discusses the potential pro- and anticollusive effects of long-term business strategies, especially for cooperation and reinvestment in production, financing and management compensation, in markets with fluctuating demand. The method of supergame theory is applied to integrate long-run decisions and different types of demand into the analysis. Aside from its contributions to the theoretical literature, the book provides valuable insights into the design of competition policy. The observed development of prices is an indicator of the extent of collusion in the market and can thereby be used to assess antitrust regulation in certain business areas, and to focus the resources of competition authorities on markets where conditions are conducive to collusion.
Download or read book Market Conform Valuation of Options written by Tobias Herwig and published by Taylor & Francis. This book was released on 2006-01-17 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: The focus of this volume is on the development of new approaches for the market-conform valuation of newly issued derivatives. The first chapter presents a flexible approach to construct the binomial process of the underlying asset price by using a simultaneously backward and forward induction algorithm. This framework can be used to price and hedge a wide range of plain-vanilla and exotic options. In the second chapter this new approach is compared to existing models using a sample of plain-vanilla options, American call options and European Barrier options from two competing markets. In the third chapter new methods to value American-style options via Monte Carlo simulations in accordance with given market prices are discussed. After a short introduction to Monte Carlo methods, two new approaches are proposed. These new frameworks are illustrated via pricing examples for standard American put options.
Download or read book The Political Economy of Fiscal Policy written by Jaejoon Woo and published by Springer Science & Business Media. This book was released on 2006-02-25 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most striking macroeconomic developments during the last three decades is the rise and persistence of large fiscal deficits in a number of countries. Despite recent major fiscal reforms around the world, many countries suffer from recurrent large fiscal imbalances that often reflect lack of fiscal discipline. Why do some countries have recurrent fiscal deficit or volatility problems, while others do not? What factors are most important in explaining cross-country variation in fiscal outcomes? How are they related to growth or inflation? This book presents new, rigorous, theoretical and empirical studies on these fiscal issues, and highlights social polarization as an essential organizing principle in a political economy approach. Also, it discusses how institutional constraints may favourably affect fiscal dynamics in the presence of social polarization.
Download or read book International Trade and Multinational Activity written by Julian Emami Namini and published by Springer Science & Business Media. This book was released on 2006-10-28 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the dynamic welfare effects of exposure to trade in a new trade model, which is extended by firm heterogeneity. It is analyzed under which conditions exposure to trade with firm heterogeneity increases or decreases steady state welfare of a country. It uses a new trade model to explore which country-specific conditions give rise to horizontal or vertical multinational activity. Finally, it combines the Heckscher-Ohlin model and a new trade model with horizontal multinational firms.
Download or read book Advances in Artificial Economics written by Charlotte Bruun and published by Springer Science & Business Media. This book was released on 2007-05-19 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is based on presentations at AE’2006 (Aalborg, Denmark) – the second symposium on Artificial Economics. As a new constructive simulation method, Agent-Based Computational Economics (ACE) has in recent years proven its strength and applicability. Coverage in this volume extends to well known questions of economics, like the existence of market efficiency, and to questions raised by new analytical tools, for example networks of social interaction.
Download or read book Introduction to Stochastic Calculus for Finance written by Dieter Sondermann and published by Springer Science & Business Media. This book was released on 2006-12-02 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although there are many textbooks on stochastic calculus applied to finance, this volume earns its place with a pedagogical approach. The text presents a quick (but by no means "dirty") road to the tools required for advanced finance in continuous time, including option pricing by martingale methods, term structure models in a HJM-framework and the Libor market model. The reader should be familiar with elementary real analysis and basic probability theory.
Download or read book Unemployment Market Structure and Growth written by Rüdiger Wapler and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his Ph. D. thesis, Rudiger Wapler analyses the causes of the persistently high unemployment rates especially in continental Europe. Particular emphasis is placed on imperfect labour and product markets on the one hand, and on the numerous links between unemployment, innovations and growth on the other. Hence, Rudiger Wapler provides an important contribution towards a better understanding of both the development of labour markets as well as the dynamics of growth. To aid readers with only little prior knowledge of labour markets, the book presents the most common theories of unemployment: (1) trade-union models in which union bargaining power leads to wages above their market-clearing level, (2) efficiency-wage models in which employers voluntarily pay higher wages in order to motivate or discipline their workers or to reduce the job turnover rate, as well as (3) matching models in which unemployment is caused by the continuous turnover of jobs and workers. In addition, emphasis is placed on the fact that labour needs to be treated as heterogeneous, a fact often neg lected in the literature. Subsequently, these labour-market foundations are integrated with modern theories of innovations and growth, making the ap proach much more relevant and plausible. Without doubt, the generalisations of the models performed by Rudiger Wapler show that there are limits to such formal analysis. Due to the increasing number of interdependencies, it is doubtful whether even more complex models provide additional (usable) insights.
Download or read book Performance Analysis and Optimization of Inbound Call Centers written by Raik Stolletz and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: The material presented in this book is a result of my work in the field of call center management during the period 1999-2002. The focus is on the perfor mance analysis and optimization of inbound call centers. Since call arrivals and call-handling times are often random in inbound call centers, this thesis concentrates on the performance analysis and optimization using queueing models. This book describes mathematical methods and algorithms to relate the number of agents and telephone trunks of a given call center configuration to technical as well as economic performance measures. This book has been accepted as a PhD thesis in Business Administration at the Technical University of Clausthal, Germany. I am indebted to many people for their support during the process of writing this thesis. First of all, I would like to thank my advisor, Prof. Dr. Stefan Helber, for motivating my research to call center related problems. He gently pushed me in fruitful directions and encouraged me to strike a balance between mathematical results and economic implications. Many other helpful suggestions came from him, and his constructive comments on draft versions of this book are invaluable. I am thankful to him and to Prof. Dr. Rolf Schwinn for refereeing this thesis.
Download or read book Real Options and Intellectual Property written by Philipp N. Baecker and published by Springer Science & Business Media. This book was released on 2007-08-06 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes an integrated approach to patent risk and capital budgeting in pharmaceutical research and development (R and D), developing an option-based view (OBV) of imperfect patent protection, which draws upon contingent-claims analysis, stochastic game theory, as well as novel numerical methods. The text re-initiates a discussion about the contribution of quantitative frameworks to value-based R and D management.
