Current discussions about public and private pension plans often include a statement that thestock market is less risky in the long run than in the short run. Pension plans with their ratherlong planning horizon are therefore asked to increase their allocation to the stock market.These...

This paper originates in an email sent by the second author wondering whether the first author knewabout Bronzin’s booklet on option pricing, dating back almost a century and containing formulas whichappear rather similar to those developed by Black-Scholes. The scepticism of the first author...

Untersuchungsgegenstand des Projekts sind die Übertragungsmechanismen (contagion) derRisiken in Finanzsystemen durch Verhaltenssymmetrien (z.B. durch Risikomodelle und ihre regulierteUmsetzung), Intransparenz (z.B. über Beteiligungsgesellschaften etwa im Bereich PrivateEquity) und Moral Hazard...

This study uses panel data describing about 6,500 employees in a large international companyto study the incentive effects of performance related pay. The company uses two performancerelated remuneration mechanisms. One is an individual "surprise" bonus payment. The other isa more structured...

This work describes and discusses the implementation of AHP-Tutor, an IntelligentTutoring System (ITS) that provides training in various methods of derivationof priorities from an AHP comparison matrix. The purpose of our system is to offerexercise problems. The corresponding theoretical...