The model described below follows this approach in research of decentralized economic systems. The purpose of modeling is a study of formation of value in conditions, when the economic agents have no information on the prices and on the intents of other agents. Therefore behavior of the agents...

Uncertainty represented by volatilities in equity markets has been observed to be time-variable and lead output fluctuations. In the rational expectation framework, uncertainty with this nature needs exogenous variables with time-varying volatilities, but technology, tastes and fiscal and...

This study applies a Super Efficiency Data Envelopment Analysis model to evaluate the efficiency of cars sold on the German market. Efficiency is conceptualized from a customers' perspective as a ratio of outputs that customers obtain from a product relative to inputs that customers have to...

Mit dem Einsatz von Employee Portalen verfolgen Unternehmen das Ziel, eine leistungsfaehige Technologie zur Schaffung von sog. personalisierten Arbeitsplaetzen am Desktop eines jeden Mitarbeiters bereitzustellen. Das Portal versorgt als Front-end des virtuellen Arbeitsplatzes den Mitarbeiter mit...

Affirmative responses to questions about conservation behavior in a multi-year phone survey are conceived of as a compound event, performing the behavior and then recalling it during a survey. By decomposing these two events an unbiased estimate of true, rather than reported, conservation...

This paper defines a general equilibrium model with exchange and club formation. Agents trade multiple private goods widely in the market, can belong to several clubs, and care about the characteristics of the other members of their clubs. The space of agents is a continuum, but clubs are...

The Malmquist productivity index has many attractive features. One is that it decomposes into a technical efficiency change index and a technical change index. Under constant returns to scale, its technical efficiency change index has been decomposed into a "pure" technical efficiency change...

The purpose of this study is to provide a broader, economic perspective on customer value management. By developing an efficiency-based concept of customer value we aim at contributing to the presently underrepresented research field of marketing economics. The customer value concept is utilized...

We study the optimal design of the rules of trade in a two-period market given that agents arrive at different times and may only trade with agents present contemporaneously. First period agents face a fixed cost of trading across periods, and their decisions of whether or not to trade in the...