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Voluntary contributions with risky and uncertain marginal returns: the importance of the minimal value

Levati, M. Vittoria; Morone, Andrea - Wirtschaftswissenschaftliche Fakultät, … - 2009

contributions. This paper presents experimental results illustrating that the effects of risk and uncertainty depend on the employed … efficiency gains, the presence of risk and uncertainty about the public good's value is not detrimental to cooperation. This … ?nding casts doubt on the hypothesis that risk and uncertainty, per se, weaken people's willingness to contribute. …

Persistent link: https://www.econbiz.de/10004964131

Valuation of Self-Insurance and Self-Protection under Ambiguity: Experimental Evidence

Ozdemir, Ozlem - Wirtschaftswissenschaftliche Fakultät, … - 2007

This experimental study, first, compares the individual valuations of two risk reduction mechanisms: self-insurance and self-protection. Second, it investigates these valuations when the loss amount is ambiguous, and compare these values with valuations when loss amounts are known. results...

Persistent link: https://www.econbiz.de/10005090463

Solving nonlinear stochastic optimal control problems using evolutionary heuristic optimization

Savin, Ivan; Blueschke, Dmitri - Wirtschaftswissenschaftliche Fakultät, … - 2013

Policy makers constantly face optimal control problems: what controls allow to achieve certain targets in, e.g., GDP growth or inflation? Conventionally this is done by applying certain linear-quadratic optimization algorithms to dynamic econometric models. Several algorithms extend this...

Persistent link: https://www.econbiz.de/10010884479

No such thing like perfect hammer: comparing different objective function specifications for optimal control

Blueschke, Dmitri; Savin, Ivan - Wirtschaftswissenschaftliche Fakultät, … - 2015

The linear-quadratic (LQ) optimization is a close to standard technique in the optimal control framework. LQ is very well researched and there are many extensions for more sophisticated scenarios like nonlinear models. Usually, the quadratic objective function is taken as a prerequisite for...

Persistent link: https://www.econbiz.de/10011272168

New Insights Into Optimal Control of Nonlinear Dynamic Econometric Models: Application of a Heuristic Approach

Blueschke, D.; Blueschke-Nikolaeva, V.; Savin, Ivan - Wirtschaftswissenschaftliche Fakultät, … - 2012

Optimal control of dynamic econometric models has a wide variety of applications including economic policy relevant issues. There are several algorithms extending the basic case of a linear-quadratic optimization and taking nonlinearity and stochastics into account, but being still limited in a...

Persistent link: https://www.econbiz.de/10009653007

Flexible Waste Management under Uncertainty

Corato, Luca Di; Montinari, Natalia - Wirtschaftswissenschaftliche Fakultät, … - 2012

optimal waste management program under uncertainty about the price of recyclables in the secondary market. The municipality …

Persistent link: https://www.econbiz.de/10010598091

Emergence of Innovation Networks from R&D Cooperation with Endogenous Absorptive Capacity

Savin, Ivan; Egbetokun, Abiodun - Wirtschaftswissenschaftliche Fakultät, … - 2013

This paper extends the existing literature on strategic R&D alliances by presenting a model of innovation networks with endogenous absorptive capacity. The networks emerge as a result of bilateral cooperation over time between firms occupying different locations in the knowledge space. Social...

Persistent link: https://www.econbiz.de/10010660259

Lasso-type and Heuristic Strategies in Model Selection and Forecasting

Savin, Ivan; Winker, Peter - Wirtschaftswissenschaftliche Fakultät, … - 2012

Several approaches for subset recovery and improved forecasting accuracy have been proposed and studied. One way is to apply a regularization strategy and solve the model selection task as a continuous optimization problem. One of the most popular approaches in this research field is given by...

Persistent link: https://www.econbiz.de/10010580995

Heuristic and exact solutions to the inverse power index problem for small voting bodies

Kurz, Sascha; Napel, Stefan - Wirtschaftswissenschaftliche Fakultät, … - 2012

Power indices are mappings that quantify the influence of the members of a voting body on collective decisions a priori. Their nonlinearity and discontinuity makes it difficult to compute inverse images, i.e., to determine a voting system which induces a power distribution as close as possible...

Persistent link: https://www.econbiz.de/10010559025

Level-Scheduling bei Variantenfließfertigung: Klassifikation, Literaturüberblick und Modellkritik

Boysen, Nils; Fliedner, Malte; Scholl, Armin - Wirtschaftswissenschaftliche Fakultät, … - 2006

Viele Hersteller von Verbrauchsgütern sehen sich heutzutage einer enormen Variantenvielfalt gegenüber, die sie auf ihren Fließsystemen produzieren müssen. So bietet etwa BMW seine Automobile in 1032 theoretisch möglichen Varianten an. Um nicht die marktseitigen Vorteile dieser...

Persistent link: https://www.econbiz.de/10005786023