Bücher der Reihe Lecture Notes in Economics and Mathematical Systems

This book contributes to re cent developments on the statistical analysis of multiple time series in the presence of regime shifts. This study is intended to provide a systematic and operational ap proach to the econometric modelling of dynamic systems subject to shifts in regime, based on the Markov-switching vector autoregressive model.

Economic application of nonlinear dynamics, microscopic agent-based modelling, and the use of artificial intelligence techniques as learning devices of boundedly rational actors are among the most exciting interdisciplinary ventures of economic theory over the past decade.

The book develops the Dempster-Shafer Theory with regard to the reliability of reasoning with uncertain arguments. Of particular interest here is the development of a new synthesis and the integration of logic and probability theory. The reader benefits from a new approach to uncertainty modeling which extends classical probability theory.

The problem of predicting interregional commodity movements and the regional prices of these commodities has intrigued economists, geographers and operations researchers for years.

There are two types of tenn structure models in the literature: the equilibrium models and the no-arbitrage models. Ho and Lee (1986) invent the no-arbitrage approach to the tenn structure modeling in the sense that the model tenn structure can fit the initial (observed) tenn structure of interest rates.

Analysing how corporate finance decisions influence strategic competition and innovation of firms in the product market, this book considers bank loan and venture capital financing and shows that better access to financial resources improves a firm's market position and leads to innovation.

This collection of 188 nonlinear programming test examples is a supplement of the test problem collection published by Hock and Schittkowski [2].

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.

This text develops and analyzes dynamic decision models (DDM) with one trajectoral objective according to the methodology of multi-criteria decision making. DDMs which concomitantly pursue multiple objectives are analyzed, with an emphasis on hybrid models with scalar and trajectorial objectives.

In this book binary functions and their representation by implicants or implicates are described. It is shown that implicants (implicates) of discrete functions may be constructed with the help of implicants (implicates) of binary functions.

Variational inequalities proved to be a very useful and powerful tool for in vestigation and solution of many equilibrium type problems in Economics, Engineering, Operations Research and Mathematical Physics.

The present study has been accepted as a doctoral thesis by the Depart­ ment of Economics of the Johann Wolfgang Goethe-University in Frankfurt am Main. It grew out from my five year long participation in two research projects, "Econometric analysis of transaction intensity and volatility on fi­ nancial markets", and "Microstructure on financial markets", that were both conducted by the chair of Statistics and Econometrics (Empirical Economic Research) at the Department of Economics and Business Administration, Jo­ hann Wolfgang Goethe-University in Frankfurt am Main and financed by the state of Hessen. During this time I have benefitted from many people. First and foremost I would like to thank my thesis supervisor, Prof. Dr. Reinhard Hujer, for initiating and supporting my studies with great encouragement. I am also very grateful to Prof. Dr. Christian Schlag for acting as the second thesis supervisor. Furthermore, I wish to thank Prof. Dr. Joachim Grammig who introduced me to the topics covered in this study in the first place and helped me to sharpen my views on econometrics and financial market microstructure theory through many discussions and also through his willingness to work with me on several related studies.

Network problems are manifold and extremely complex. The text provides a fairly integrated approach of transportation related "network problems" and their "solutions" with emphasis on economics or, more precisely, microeconomic theory.

In the last 25 years, the fuzzy set theory has been applied in many disciplines such as operations research, management science, control theory, artificial intelligence/expert system, etc.

Appropriate parts of my correspondence and some copies of documents will be placed in a Cowles Commission archive at the Cowles Foundation, Vale University.

This study is concerned with forecasting time series variables and the impact of the level of aggregation on the efficiency of the forecasts. The present study contains major extensions of that research and also summarizes the earlier results to the extent they are of interest in the context of this study.

In this book problems related to the choice of models in such diverse fields as regression, covariance structure, time series analysis and multinomial experiments are discussed. The emphasis is on the statistical implications for model assessment when the assessment is done with the same data that generated the model.

This text studies how domestic labour markets are influenced by a changing international environment. It combines developed searches and matching models with standard models of international trade, so the reader can gain insights into the ongoing debate on how globalization can affect unemployment.

The organizers of the 12th International Conference on Multiple Cri teria Decision Making (MCDM) held June 19-23, 1995 in Hagen received the second time the opportunity to prepare an international conference on MCDM in Germany;

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.