Microsimulation models are apt to be the preferred instrument when applied, equality analyses of tax reforms in specific economies are undertaken. However, most of these models ignore general equilibrium effects, like changes in prices, and may therefore miss valuable information because of...

We analyze how strategic asset trading can be used to gain competitive advantage. In the case of electricity markets, companies seek to improve the value of their generating portfolios by acquiring, or selling, power plants. Accordingly, we derive the basic determinants of plant value,...

We examine the choice between internal or external provision of information technology (“ITâ€) services for US credit unions. Credit unions may provide their own systems for tracking loans and deposit accounts or they may choose to outsource these systems from external providers....

We develop a powerful and user-friendly program for numerically solving first price auction problems where an arbitrary number of bidders draw independent valuations from heterogenous distributions and the auctioneer imposes a reserve price for the object. The heterogeneity in this model arises...

In this paper we study a local version of the Minority Game where agents are placed on the nodes of a directed graph. Agents care about beingin the minority of the group of agents they are currently linked to and employ myopic best-reply rules to choose their next-period state. We show that, in...

In this paper it is argued that whether cooperation is established in a prisoner's dilemma-like situation is determined by cognitive learning processes. To prove this claim a simulation model is build. This model is based on knowledge about the cognitive learning process that has been gained in...