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Author: Armin Schmutzler
Publisher: Springer Science & Business Media
ISBN: 3642956718
Category : Business & Economics
Languages : en
Pages : 204
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Book Description
1 The Importance of Irreversibility and Learning - Familiar 11 Bxamples Revisited 1. 1 Neoclassical Investment Models: A Brief Survey 11 1. 1. 1 The Standard Neoclassical Investment Theory Model 13 1. 1. 2 The Investment Model with Adjustment Costs 15 1. 1. 3 The Irreversibility of Investment 17 1. 1. 4 Delivery Lags 18 1. 2 Flexible Manufacturing Systems 22 1. 2. 1 Some Basic Facts about Manufacturing 23 1. 2. 2 The Determinants of the Flexibility of Manufacturing Systems 25 1. 2. 3 Manufacturing as a Multiperiod Choice Problem 28 1. 3 Conclusions 30 2 The Role of Irreversibility and Learning in Sequential Decision Problems - Basic Concepts 33 2. 1 The Two-Period Model without Uncertainty 33 2. 1. 1 The Elements of the Model 34 2. 1. 2 Economic Examples 37 2. 1. 3 Some Basic Results 39 2. 1. 4 Intertemporal Opportunity Costs 42 2. 2 The Two-Period Model with Uncertainty 46 2. 2. 1 The Elements of the Kodel 46 2. 2. 2 Special Cases 50 2. 2. 3 Flexibility and the Value of Information 54 2. 2. 4 An Example: Waiting to Invest 56 2. 3 Switching Costs 59 2. 3. 1 The Extended Model 59 2. 3. 2 An Example: Money Demand as Demand for Flexibility 61 2. 4 Summary and Outlook 63 3 Determinants of the Optimal Choice in Sequential Decision Problems - The Two-Period Case 65 3. 1 The Formulation of the Problem 66 3. 1.
Author: Armin Schmutzler
Publisher: Springer Science & Business Media
ISBN: 3642956718
Category : Business & Economics
Languages : en
Pages : 204
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Book Description
1 The Importance of Irreversibility and Learning - Familiar 11 Bxamples Revisited 1. 1 Neoclassical Investment Models: A Brief Survey 11 1. 1. 1 The Standard Neoclassical Investment Theory Model 13 1. 1. 2 The Investment Model with Adjustment Costs 15 1. 1. 3 The Irreversibility of Investment 17 1. 1. 4 Delivery Lags 18 1. 2 Flexible Manufacturing Systems 22 1. 2. 1 Some Basic Facts about Manufacturing 23 1. 2. 2 The Determinants of the Flexibility of Manufacturing Systems 25 1. 2. 3 Manufacturing as a Multiperiod Choice Problem 28 1. 3 Conclusions 30 2 The Role of Irreversibility and Learning in Sequential Decision Problems - Basic Concepts 33 2. 1 The Two-Period Model without Uncertainty 33 2. 1. 1 The Elements of the Model 34 2. 1. 2 Economic Examples 37 2. 1. 3 Some Basic Results 39 2. 1. 4 Intertemporal Opportunity Costs 42 2. 2 The Two-Period Model with Uncertainty 46 2. 2. 1 The Elements of the Kodel 46 2. 2. 2 Special Cases 50 2. 2. 3 Flexibility and the Value of Information 54 2. 2. 4 An Example: Waiting to Invest 56 2. 3 Switching Costs 59 2. 3. 1 The Extended Model 59 2. 3. 2 An Example: Money Demand as Demand for Flexibility 61 2. 4 Summary and Outlook 63 3 Determinants of the Optimal Choice in Sequential Decision Problems - The Two-Period Case 65 3. 1 The Formulation of the Problem 66 3. 1.
Author: A. Refik Güllü
Publisher:
ISBN:
Category :
Languages : en
Pages : 310
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Book Description
Author: Alan M. Rugman
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 432
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Book Description
Presents 20 articles that apply real options theory to international business and strategic management. This volume organizes the literature so that further advances can be made by international business scholars to capitalize on the power and usefulness of the real options approach.
Author: Wolfgang Ryll
Publisher: Springer Science & Business Media
ISBN: 9783540613046
Category : Business & Economics
Languages : en
Pages : 188
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Book Description
The book investigates a two-person game of litigation and settlement with incomplete information on one side. The experimental design allows investigation of how subjects solve the bargaining problem. A prominence level analysis is applied to the data and suggests that subjects tend to choose "round" numbers. It is shown that there exists a correlation between machiavellianism and subjects' adjustment behaviour in the game. The learning behaviour is discussed extensively. Plaintiffs' acceptance limits polarize at the beginning of the second play. A model of learning direction theory applied to explain subjects's behaviour over the course of the game.
Author: Ray Challen
Publisher: Edward Elgar Publishing
ISBN: 9781781956427
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
'This is an excellent piece of work, applying the economic theory of property rights and transaction costs to the complex policy problems associated with water use in irrigation. Challen examines the determination of transaction costs and the way they interact with a realistic specification of property rights. He thereby avoids the two main defects found in much work in this area: first, the use of a simplistic division of property rights schemes, for example one based on polar categories of private property and common property, defined to mean open access, and second, a tendency to use the category of transaction costs as an unexamined "black box".' - John Quiggin, James Cook University, Australia 'A most encouraging trend in economics concerns the careful and non-teleological study of institutions. From an era in which institutions were completely ignored, through an era in which it was thought that institutions were mere constraints on otherwise beneficent behavior in markets, through an era in which it was thought that the purpose of institutions was to promote economic efficiency, we now seem to be firmly in an era in which it is understood that institutions are the very bedrock of economic and social interaction. The analysis of institutions will fall into incoherence if we insist on seeing them as teleological rather than as instrumental. Once there, we must still understand the purposes that different individuals and collectivities ascribe to particular institutional set ups. In this careful book Ray Challen offers clear conceptual guidance to the study of economic institutions. He also shows us how one can undertake the analysis of institutional choice. The problem setting is water resources in eastern Australia. The lessons are profoundly international, and the approach is refreshingly promising.' - Daniel W. Bromley, University of Wisconsin-Madison, US Conventional economic analysis of property rights in natural resources is too narrow and restrictive to allow for effective comparisons between alternative institutional structures. In this book, a conceptual framework is developed for the analysis of these structures with illustrative application to the allocation of water resources.
Author: Malte Faber
Publisher: Springer Science & Business Media
ISBN: 366203624X
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
This second edition is brought about by two factors. First, the initial printing sold out much more rapidly than we expected. Second, several colleagues have been kind enough to suggest that this book not only has a contribution to make to ecological economics, but also has relevance to economics general. Thus our OUf distinction distinction between between genotypic genotypic and phenotypic evolution may be used to characterise not only economic sectors, but also whole economies, and in particular economic schools of thought. For instance, the Austrian subjectivist school deals explicitly with ignorance and the emergence of novelty, and may therefore be used to analyse genotypic development. In contrast, neoclassical economics deals principally with phenotypic development. When Dr. Müller Muller of Springer-Verlag suggested the production of a second edition, we were therefore pleased that this book might remain available. Several readers and in particular reviewers of the first edition remarked, in one way or the other, that they had questions concerning several of our OUf concepts, concepts, such as genotype, phenotype, ignorance, surprise, sUlprise, novelty, novelty, knowledge, knowledge, predictable predictable and unpredictable processes etc. Of course, all these concepts are of importance for evolution in general and for invention and innovation of new techniques in particular. We therefore considered some modifications and extensions of the original text, but on the advice of colleagues, have restricted oUfselves ourselves to correcting mistakes that crept into the first edition and to two extensions ofthe of the text, text, one major, one smaller.
Author: Bettina Kuon
Publisher: Springer Science & Business Media
ISBN: 3642487777
Category : Business & Economics
Languages : en
Pages : 305
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Book Description
Think of the following situation: A project yielding a gross profit of 100 is offered to two firms. The project can only be conducted by a cooperation of the two firms. No firm is able to conduct the project alone. In order to receive the project the firms have to agree on the allocation of the gross profit. Each of both firms has an alternative project it conducts in case the joint project is not realized. The profitability of an allocation of the joint gross profit for a firm depends on the gross profit from its alternative project. The gross profit from an alternative project can be either 0 (low alternative value) or O
Author: Graham Chapman
Publisher: Routledge
ISBN: 1134787537
Category : Science
Languages : en
Pages : 344
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Book Description
Time is an unstated but ever present element in all debates about environmental change - and the subtext of many disagreements. Geomorphologists think in the context of millions of years, politicians in election terms, the media in decades, and the public ceases to worry about global warming with one bad summer. This volume brings together experts from a diverse range of disciplines, to offer a range of both temporal and geographical perspectives. It does not seek to provide clear answers about right time-scales, but rather to encourage the reader, from whatever perspective, to think about change and environmental issues in a new light through different time-scales.
Author: P. Buckley
Publisher: Springer
ISBN: 0230508642
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
This book focuses on the study of International business and more specifically 'Is the international business research agenda running out of steam?' After laying down this challenge, Buckley presents three theoretical developments, which point to ways forward for the agenda. He includes empirical evidence on the strategy of the Multinational Enterprise and on foreign direct investment and the world economy.
Author: New York Public Library. Research Libraries
Publisher:
ISBN:
Category : Business
Languages : en
Pages : 580
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Book Description
