Bøger i Lecture Notes in Economics and Mathematical Systems serien

Network optimization is important in the modeling of problems and processes from such fields as engineering, computer science, operations research, transportation, telecommunication, decision support systems, manufacturing, and airline scheduling.

Spurred by the availability of new mathematical tools such as optimal control theory and dynamic programming, dynamic utility models mushroomed over the last two decades. In this survey we show that all dynamic utility models can be viewed as special cases of the class of universal utility mod els.

Environmental Kuznets Curves - one of the most controversial issues of current environmental economics - suggest that economic growth may lead to environmental quality improvements. In addition, the main assumptions, arguments and conclusions are also presented in a non-formel way.

However, the area information economics is most closely connected with is the theory of optimal contracts, mainly ana 6 lyzed in principal-agent models. Contract theory deals primar ily with the question of how optimal arrangements (contracts) for the purchase and sale of commodities and services between two or more agents should be structured.

New Tools of Economic Dynamics gives an introduction and overview of recently developed methods and tools, most of them developed outside economics, to deal with the qualitative analysis of economic dynamics.

Dynamic oligopolistic competition has implications both for the strategic management of firms and for the design of an effective competition policy.

In recent years researchers have spent much effort in developing efficient heuristic algorithms for solving the class of NP-complete problems which are widely believed to be inherently intractable from the computational point of view. Traveling Salesman Problem 52 Chapter 5. Steiner Tree Problem 81 Chapter 6.

The complexity of distribution systems is augmented by various trends: globalization of the manufacturing industry, rising customer demands, and the reverse flows within closed-loop systems.

In this monograph, the literature on methods of fuzzy Multiple Attribute Decision Making (MADM) has been reviewed thoroughly and critically, and classified systematically. The basic concepts and algorithms from the classical MADM methods have been used in the development of the fuzzy MADM methods.

In this book, a social dilemma with partner selection is introduced and studied with the methods of formal game theory, experimental economics and computer simulations. It allows exploration of simultaneous dynamics of the network structure and cooperative behavior on this structure.

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.

5th Werner Kern Award for Productivity Research 2005Kanban control systems bear a great potential to significantly improve operations. We propose an innovative construction-kit approach that enables us to build stochastic analytical models of a large class of single- and multi-product kanban systems.

The CASPT 2000 is the continuation of aseries of international workshops and conferences presenting recent research and progress in computer-aided scheduling in public transport.Previous workshops and conferences were held in * Chicago (1975), * Leeds (1980), * Montreal (1983 and 1990), * Hamburg (1987), * Lisbon (1993) and * Cambridge, Mass.

This work was completed during my tenure as a scientific assistant and d- toral student at the Institute for Operations Research at the University of St. Gallen. Motivated both by practical questions and theoretical concerns, I became p- ticularly interested in the art of finding tight bounds on the optimal value of a given model.

Practitioners in process industry have to increasingly adapt their global production networks to changes in the competitive environment. A majority of the supply network design models proposed by academia do not sufficiently capture the questions that have to be resolved.

Moreover, via this approach, generalized Moreau-Rockafellar formulae are provided and, in connection with them, a new class of regularity conditions, called closedness-type conditions, for both stable strong duality and strong duality is introduced.

This book criticizes the fact that profitability measures derived from capital market models such as the Sharpe ratio and the reward-to-VaR ratio are proposed for loan portfolios, although it is not proven whether their risk-return trade-offs are optimal for banks.

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.

During the development of modern probability theory in the 17th cen tury it was commonly held that the attractiveness of a gamble offering the payoffs :1:17 *** ,:l: with probabilities Pl, .

This book has been written as a doctoral dissertation at the Department of Economics at the University of Konstanz. I am indebted to my supervisor Winfried Pohlmeier for providing a stimulating and pleasant research en- ronment and his continuous support during my doctoral studies. I strongly bene?tted from inspiring discussions with him, his valuable advices and he- ful comments regarding the contents and the exposition of this book. I am grateful to Luc Bauwens for refereeing my work as a second super- sor. Moreover, I wish to thank him for o?ering me the possibility of a research visit at the Center of Operations Research and Econometrics (CORE) at the Universit¿ e Catholique de Louvain. Important parts of this book have been conceived during this period. Similarly, I am grateful to Tony Hall who invited me for a research visit at the University of Technology, Sydney, and provided me access to an excellent database from the Australian Stock Exchange. I would like to thank him for his valuable support and the permission to use this data for empirical studies in this book. I wish to thank my colleagues at the University of Konstanz Frank G- hard,DieterHess,JoachimInkmann,MarkusJochmann,StefanKlotz,Sandra Lechner and Ingmar Nolte who o?ered me advice, inspiration, friendship and successfulco-operations.Moreover,Iamgratefultothestudentresearchass- tantsat the Chair of Econometrics at the University of Konstanz, particularly Magdalena Ramada Sarasola, Danielle Tucker and Nadine Warmuth who did a lot of editing work.

It has become part of the conventional wisdom in the economics of education that subsidies to higher education have a regressive distributional effect. Given that relatively more children from wealthier families enroll in higher education, many economist assume that these subsidies to higher education have an unwanted distributional impact.

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 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.

In preparing this workshop we selected two main approaches (as reflected In the title of this book) that have been proposed In the last ten years to deal with the causes of long term fluctuations, namely the **technologlcal"' (or neo SchumpeterlanLapproach and the "'social"' approsch.

We can distinguish between games which focus on strategic elements like games with incomplete information (see, for example, P'ng (1983), Samuelson (1982) and Schweizer (1989" and decision-theoretic models neglecting strategic elements (see, for example, Landes (1971) and Gould (1973".

The first article, which comprises Chapter 1, provides a general introduction to the topic of dynamic and differential game theory, discusses various noncooperative equilibrium solution concepts, includ ing Nash, Stackelberg, and Consistent Conjectural Variations equilibria, and a number of issues such as feedback and time-consistency.

In this association, the individual activities of the project correspond to the arcs, the so-called proj ect events (beginning or termination of activities) correspond to the nodes, and the durations of the activities correspond to the weights of the respective arcs of the directed graph.

This book is written for those seeking a decision theory appropriate for use in serious choices such as insurance. It employs stages of knowledge ahead to track satisfactions and dissatisfactions. From experimental and questionnaire data, people take into account such stages of knowledge ahead satisfactions and dissatisfactions.

This book analyzes the existence of equilibria in economies having a measured space of agents and a continuum of agents and commodities. Excessive homogeneity with respect to agent productivity leads to instability and non-uniqueness of a given stationary state and the indeterminacy of the corresponding stationary state equilibrium.

My recent books, Capital and Knowledge (Zhang, 1999) and A TheoryofInternational Trade (Zhang, 2000) show how separate economic theories such as the Marxian economics, the Keynesian economics, the general equilibrium theory, the neoclassical growth theory, and the neoclassical trade theory can be examined within a single theoretical framework.