Equity Efficiency And Evolutionary Stability In Bargaining Games With Joint Production

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Equity, Efficiency and Evolutionary Stability in Bargaining Games with Joint Production

Author : Manfred Königstein
Publisher : Springer Science & Business Media
ISBN 13 : 3642457827
Total Pages : 205 pages
Book Rating : 4.6/5 (424 download)

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Book Synopsis Equity, Efficiency and Evolutionary Stability in Bargaining Games with Joint Production by : Manfred Königstein

Download or read book Equity, Efficiency and Evolutionary Stability in Bargaining Games with Joint Production written by Manfred Königstein and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: Result 1.10 Simple equity standards were superior to more complex ones, even though the latter might be economically more relevant. Result 1.11 Equity based on quantity (input) and return (output) was most successful and received a hit rate of almost i within a range of 10%, i.e., within a distance of ±5% of the predicted share. Result 1.12 A substantial share of observations is consistent with egalitarian considerations. 1.7 Summary The study investigates the predictive power of equity theory and strategic concepts within ultimatum bargaining with advance produc tion. This is different from many other experimental studies on non cooperative bargaining games, since usually the ressource to be dis tributed between the subjects is given by the experimenter. Here, the "pie" is produced via joint production effort. This scenario is more general than bargaining without production, and we think it is more natural as well. The description of the raw data showed that the production choices are considerably dispersed, but nevertheless systematically biased to ward the respective player's efficient production level. The distribu tions of demanded return shares and demanded surplus shares partly replicated findings of other studies; namely, a low percentage of high demands and a considerable proportion of equal surplus splits. But, they also indicate that "advance production" compared to "no pro duction" should be considered an important treatment in studies on ultimatum bargaining.

Planning Stability in Material Requirements Planning Systems

Author : Gerald Heisig
Publisher : Springer Science & Business Media
ISBN 13 : 364255928X
Total Pages : 273 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Planning Stability in Material Requirements Planning Systems by : Gerald Heisig

Download or read book Planning Stability in Material Requirements Planning Systems written by Gerald Heisig and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: In logistics systems, the issue of planning stability has attracted increased attention and interest in recent years. This is mainly due to an increasing integration of planning systems both within and across companies in supply chain management. The propagation of adjustments in planning systems first acquired wide attention when MRP systems were employed as standard planning tools for material coordination. Within a rolling horizon framework the MRP application produced considerable planning instability which origins from uncertainties in the planner's exogenous environment as well as from endogenous sources. This book presents an analytical investigation that gives deep insight into the influence of different kind of inventory control rules on the stability of material planning systems under stochastic demand in a rolling horizon environment.

The Oxford Handbook of Economic Conflict Resolution

Author : Gary E. Bolton
Publisher : Oxford University Press
ISBN 13 : 0199995990
Total Pages : 432 pages
Book Rating : 4.1/5 (999 download)

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Book Synopsis The Oxford Handbook of Economic Conflict Resolution by : Gary E. Bolton

Download or read book The Oxford Handbook of Economic Conflict Resolution written by Gary E. Bolton and published by Oxford University Press. This book was released on 2012-09-20 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Individuals, groups, and societies all experience conflict, and attempt to resolve it in numerous ways. This Handbook brings together scholars from multiple disciplines to offer perspectives on the current state and future challenges in negotiation and conflict resolution. It will serve as an aid to scholars in identifying new research topics, provide a guide to current debates, and identify complementarities between approaches taken by different disciplines and the insights which those approaches generate. Leading researchers of economics, psychology, organizational behavior, policy, and other fields have contributed chapters. The volume is organized to purposefully juxtapose contributions from different fields to enable cross-fertilization between the disciplines and to generate new and creative approaches to studying the topic. These chapters provide a lens into current scholarship, and a window into the future of the field of economic conflict resolution. The confluence of research perspectives represented will identify further synergies and advances in our understanding of this topic.

Efficiency versus Sustainability in Dynamic Decision Making

Author : Bodo Glaser
Publisher : Springer Science & Business Media
ISBN 13 : 3642561004
Total Pages : 257 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Efficiency versus Sustainability in Dynamic Decision Making by : Bodo Glaser

Download or read book Efficiency versus Sustainability in Dynamic Decision Making written by Bodo Glaser and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: To all who taught me, and to all who will. Over the past fifteen years the notions of efficiency and sustainability have, more than any others, influenced the academic and public discussion concerning the intertemporal allocation of resources, especially as regards the economics of growth and environment. This treatise formally develops and counterposes these notions by means of the construct of a trajectorial objective, which is here developed, along with its implications, as a natural advance upon the classical scalar objective. In the course of this study it becomes clear that efficiency and sustainability are by no means identical, given that efficiency, on the one hand, is the concept for avoiding wasteful behavior, and sustainability, on the other, is the concept for ensuring that certain critical aspiration levels, which usually reflect the wish for survival, are maintained. Nonetheless, contrary to what may be assumed, these two concepts do not generally yield mutually exclusive solutions; in fact, they can be combined to complement each other in the quest for unimprovable long-term solutions which sustain given and necessary aspiration levels. This treatise develops and analyzes dynamic decision models (DDM) with one trajectorial objective according to the methodology of multi criteria decision making (MCDM). Moreover, introducing the method of distance maximization crucially augments MCDM and proves to be invaluable for DDMs in the case of a nonexistent utopia trajectory as well as in the case of sustainability as objective.

Performance Analysis and Optimization of Inbound Call Centers

Author : Raik Stolletz
Publisher : Springer Science & Business Media
ISBN 13 : 3642555063
Total Pages : 229 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Performance Analysis and Optimization of Inbound Call Centers by : Raik Stolletz

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.

Heterogenous Agents, Interactions and Economic Performance

Author : Robin Cowan
Publisher : Springer Science & Business Media
ISBN 13 : 3642556515
Total Pages : 341 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Heterogenous Agents, Interactions and Economic Performance by : Robin Cowan

Download or read book Heterogenous Agents, Interactions and Economic Performance written by Robin Cowan and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: In traditional economics models of perfect competition agent's interactions are all mediated through the market. Interactions are anonymous, global and indirect. This is a powerful model, but we see many instances in which one, and sometimes all, of the previous characteristics fail to hold true. The type of agent you are, or your identity, can affect the type of interaction we have, and most surely the relationship between micro-behaviour and macro-phenomena in non-trivial ways. This book contains a selection of papers presented at the 6th Workshop on Economics with Heterogenous Interacting Agents (WEHIA). The contributions show that work done in other fields like evolutionary biology, statistical mechanics, social network theory and others help us to understand the way in which economic systems operate. Virtually all of the papers presented in this volume draw on some aspect or other of these varied approaches to related problems.

Capacity Reservation for Capital-intensive Technologies

Author : Stefan Spinler
Publisher : Springer Science & Business Media
ISBN 13 : 3642190065
Total Pages : 143 pages
Book Rating : 4.6/5 (421 download)

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Book Synopsis Capacity Reservation for Capital-intensive Technologies by : Stefan Spinler

Download or read book Capacity Reservation for Capital-intensive Technologies written by Stefan Spinler and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arguably the central problem in operations research and management science (OR/MS) addressed by e-Business is better coordination of supply and de mand, including price discovery and reduction of transactions costs of buyer seller interactions. In capital-intensive industries like chemicals and steel, the out-of-pocket costs of excess capacity and the opportunity costs of underuti lized capacity have been important factors driving the growth of exchanges for improving demand and supply coordination through e-Business platforms. Stefan Spinler addresses in his dissertation one of the most interesting aspects of this evolution for OR/MS, the parallel development of long-term and short-term markets for capacity and output, accompanied by a range of exotic options and forwards as the basic mechanisms supporting transac tions. This is a fascinating research topic because it builds on the powerful framework of real options, while connecting directly to key operations deci sions (capacity planning, staffing, maintenance, and so forth) of the plants and technologies whose output is the focus of contracts. From the perspec tive of practice, the use of these contracting mechanisms, as facilitated by a new breed of B2B exchanges, represents an opportunity for further improving supply chain performance and capital asset productivity.

Analysis, Controllability and Optimization of Time-Discrete Systems and Dynamical Games

Author : Werner Krabs
Publisher : Springer Science & Business Media
ISBN 13 : 3642189733
Total Pages : 198 pages
Book Rating : 4.6/5 (421 download)

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Book Synopsis Analysis, Controllability and Optimization of Time-Discrete Systems and Dynamical Games by : Werner Krabs

Download or read book Analysis, Controllability and Optimization of Time-Discrete Systems and Dynamical Games written by Werner Krabs and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focuses on the analysis, optimization and controllability of time-discrete dynamical systems and games under the aspect of stability, controllability and (for games) cooperative and non-cooperative treatment. The investigation of stability is based on Lyapunov's method which is generalized to non-autonomous systems. Optimization and controllability of dynamical systems is treated, among others, with the aid of mapping theorems such as implicit function theorem and inverse mapping theorem. Dynamical games are treated as cooperative and non-cooperative games and are used in order to deal with the problem of carbon dioxide reduction under economic aspects. The theoretical results are demonstrated by various applications.

Kanban-Controlled Manufacturing Systems

Author : Georg Krieg
Publisher : Springer Science & Business Media
ISBN 13 : 3540271465
Total Pages : 243 pages
Book Rating : 4.5/5 (42 download)

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Book Synopsis Kanban-Controlled Manufacturing Systems by : Georg Krieg

Download or read book Kanban-Controlled Manufacturing Systems written by Georg Krieg and published by Springer Science & Business Media. This book was released on 2006-03-30 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: 5th Werner Kern Award for Productivity Research 2005 Kanban control systems bear a great potential to significantly improve operations. A company may reap the full benefits of kanban control only after determining an optimal or near-optimal system configuration. To do that, methods are needed to evaluate the performance and operating costs of individual system configurations. 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 presented construction-kit approach may be extended and augmented in various directions.

Cooperative Decision Making in Common Pool Situations

Author : Holger I. Meinhardt
Publisher : Springer Science & Business Media
ISBN 13 : 3642561365
Total Pages : 212 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Cooperative Decision Making in Common Pool Situations by : Holger I. Meinhardt

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.

A Theory of Interregional Dynamics

Author : Wei-Bin Zhang
Publisher : Springer Science & Business Media
ISBN 13 : 3642181481
Total Pages : 237 pages
Book Rating : 4.6/5 (421 download)

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Book Synopsis A Theory of Interregional Dynamics by : Wei-Bin Zhang

Download or read book A Theory of Interregional Dynamics written by Wei-Bin Zhang and published by Springer Science & Business Media. This book was released on 2012-09-07 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over more than two centuries the development of economic theory has created a wide array of different theories, concepts and results. Nevertheless, there is no general theory, which mrifies these varied theories into a comprehensive one. Economics has been split between partial and conflicting representations of the functioning of market economies. We have a collection of separate theories such as the Marxian economics, the Keynesian economics, the general equilibrium theory, and the neoclassical growth theory. These diverse economic theories have co-existed but not in a structured relationship with each other. Economic students are trained to understand economic phenomena by severally incompatible theories one by one in the same course. Since the end of Second Wodd War many crises in economic theory have been announced. The economist experienced the crisis of the general equilibrium economics, the crisis of the neoclassical growth economics, the crisis of the Keynesian economics, not to mention the crises of the Marxian economics. It is quite reasonable to expect the loss of confidence in theoretical economics even among professional economists after so many crises in a very short period of time. But a crisis offers new opportmrities for change, either for better or for worse. The past crises in theoretical economics may be perceived as a historical opportmrity to construct a general economic theory by which the traditional theories are integrated into a higher whole.

Surveys in Experimental Economics

Author : Friedel Bolle
Publisher : Springer Science & Business Media
ISBN 13 : 3642574580
Total Pages : 259 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis Surveys in Experimental Economics by : Friedel Bolle

Download or read book Surveys in Experimental Economics written by Friedel Bolle and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experimental Economics has experienced a steadily growing interest by economists during the last decade. This may not surprise since laboratory and field experiments obviously provide a further valuable source of empirical evidence of economic behavior besides statistics, econometrics, polls, interviews and simulations. In an overview of the recent developments in Experimental Economics, the present book concentrates on three central themes standing in the actual research focus: bargaining, cooperation and election markets. For each one of these topics the volume presents several state-of-the-art survey articles by experts in the field, accompanied by detailed comments. While the experimental approach sheds new light on the microeconomic standard topics of bargaining and cooperation, the election market approach as a new field may provide better forecasts for political elections - and for soccer World Championships.

A Theory of Supply Chains

Author : Carlos F. Daganzo
Publisher : Springer Science & Business Media
ISBN 13 : 364218152X
Total Pages : 130 pages
Book Rating : 4.6/5 (421 download)

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Book Synopsis A Theory of Supply Chains by : Carlos F. Daganzo

Download or read book A Theory of Supply Chains written by Carlos F. Daganzo and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work was stimulated by a comment made by a former student (Prof. Alan Erera of Georgia Tech) in connection with an inventory stabil ity game he was going to play in one of his logistics classes. This was the well-known "beer-game" that is often played in business schools to illus trate the "bullwhip" effect in supply chains. Al had said to me that he did not have to tell his students how to reorder replacement parts from the other members of the supply chain because he knew from experience that the order sizes the players would generate as the game progressed would become chaotic anyhow. Since I had not played the beer game, his asser tion was intriguing to me. Why would such an unstructured game always lead to the same undesirable effect? Did it have something to do with psy chology? What is it that players did to generate instabilities? I posed these to other people but could not get completely satisfactory an questions swers. Thus, the bullwhip mystery remained, at least in my mind. Since inventory chains are "conservative" systems analogous to a traffic stream, and since traffic flow models exhibit similar effects (the instability of automobile platoons and of certain numerical methods being two nota ble examples)' I suspected that traffic flow theory might shed some light on the puzzle.

An Economic Theory of Cities

Author : Wei-Bin Zhang
Publisher : Springer Science & Business Media
ISBN 13 : 3642560601
Total Pages : 228 pages
Book Rating : 4.6/5 (425 download)

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Book Synopsis An Economic Theory of Cities by : Wei-Bin Zhang

Download or read book An Economic Theory of Cities written by Wei-Bin Zhang and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over more than two centuries the developmentofeconomic theory has created a wide array of different concepts, theories, and insights. 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. This book isto further expand the frameworkproposed in the previous studies. This book is a part of my economic theory with endogenous population, capital, knowledge, preferences, sexual division of labor and consumption, institutions, economic structures and exchange values over time and space (Zhang, 1996a). As an extension of the Capital and Knowledge, which is focused on the dynamics of national economies, this book is to construct a theory of urban economies. We are concerned with dynamic relations between division of labor, division ofconsumption and determination of prices structure over space. We examine dynamic interdependence between capital accumulation, knowledge creation and utilization, economicgrowth, price structuresand urban pattern formation under free competition. The theory is constructed on the basisofa few concepts within a compact framework. The comparative advantage of our theory is that in providing rich insights into complex of spatial economies it uses only a few concepts and simplified functional forms and accepts a few assumptions about behavior of consumers, producers, and institutionalstructures.

Corporate Finance, Innovation, and Strategic Competition

Author : Cornelia Neff
Publisher : Springer Science & Business Media
ISBN 13 : 9783540442943
Total Pages : 240 pages
Book Rating : 4.4/5 (429 download)

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Book Synopsis Corporate Finance, Innovation, and Strategic Competition by : Cornelia Neff

Download or read book Corporate Finance, Innovation, and Strategic Competition written by Cornelia Neff and published by Springer Science & Business Media. This book was released on 2002-11-13 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes how corporate finance decisions influence strategic competition and innovation of firms in the product market. We consider bank loan financing and venture capital financing. Due to assymetric information, firms must sign special contracts with banks or venture capitalists. The financial contracts, in turn, determine the competitive strategies of firms in the product market. Firms compete in prices for market shares. In addition to that, firms invest in R&D in order to induce product or process innovation. We show that better access to financial resources improves a firm's market position and leads to a higher rate of innovation. Cash-rich firms may even decide to prey upon financially restricted rivals in order to prevent new market entry or to induce market exit. TOC:Introduction.- Financial Structure and Strategic Competition.- Credit Financing and Strategic Competition.- Venture Capital Financing and Strategic Competition.- Conclusion.

Market-Conform Valuation of Options

Author : Tobias Herwig
Publisher : Springer Science & Business Media
ISBN 13 : 3540308385
Total Pages : 106 pages
Book Rating : 4.5/5 (43 download)

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Book Synopsis Market-Conform Valuation of Options by : Tobias Herwig

Download or read book Market-Conform Valuation of Options written by Tobias Herwig and published by Springer Science & Business Media. This book was released on 2006-03-12 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. 1 The Area of Research In this thesis, we will investigate the 'market-conform' pricing of newly issued contingent claims. A contingent claim is a derivative whose value at any settlement date is determined by the value of one or more other underlying assets, e. g. , forwards, futures, plain-vanilla or exotic options with European or American-style exercise features. Market-conform pricing means that prices of existing actively traded securities are taken as given, and then the set of equivalent martingale measures that are consistent with the initial prices of the traded securities is derived using no-arbitrage arguments. Sometimes in the literature other expressions are used for 'market-conform' valuation - 'smile-consistent' valuation or 'fair-market' valuation - that describe the same basic idea. The seminal work by Black and Scholes (1973) (BS) and Merton (1973) mark a breakthrough in the problem of hedging and pricing contingent claims based on no-arbitrage arguments. Harrison and Kreps (1979) provide a firm mathematical foundation for the Black-Scholes- Merton analysis. They show that the absence of arbitrage is equivalent to the existence of an equivalent martingale measure. Under this mea sure the normalized security price process forms a martingale and so securities can be valued by taking expectations. If the securities market is complete, then the equivalent martingale measure and hence the price of any security are unique.

The Complex Dynamics of Economic Interaction

Author : Mauro Gallegati
Publisher : Springer Science & Business Media
ISBN 13 : 3642170455
Total Pages : 404 pages
Book Rating : 4.6/5 (421 download)

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Book Synopsis The Complex Dynamics of Economic Interaction by : Mauro Gallegati

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.