The productivity of (human) information processing as an economicactivity is a question that is raising some interest. Using Marschak’s evaluationframework, Radner and Stiglitz have shown that, under certain conditions,the production function of this activity has increasingmarginal returns in...

Information is a precious resource when solving decision problemsunder uncertainty. The paper deals with the estimation of the value of informationunder different rationality concepts of the decision maker. The value of informationand the expected value of (un)certain information will be...

Das Platzen des Suprime Marktes in den USA 2007 entwickelte sich bis heute zur weltweiten Wirtschaftskrise. Einfach Arbeiter bekamen von Banken Kredite für ihre Häuser, die sie später nicht mehr zurückzahlen konnten.Die Banken wiederum verschachtelten die Zahlungsströme in komplexe...

Fraud und Wirtschaftskriminalität ist unverändert ein Thema für Unternehmen und deren Stakeholder. Berücksichtigt man die mediale Aufmerksamkeit, die in den vorangegangenen Monaten Wirtschafts- und Bilanzskandalen gewidmet wurde, kann man sogar sagen, Fraud und Wirtschaftskriminalität sind...

In regelmäßigen Abständen untersucht die VEND consulting GmbH aktuelle Trends undEntwicklungen innerhalb der Photovoltaikindustrie. In der aktuellen Studie, die Anfang diesesJahres erschienen ist, wurden insgesamt 113 Unternehmen aus den Bereichen Herstellung,Handel und Dienstleistung der...

[...]This paper analyses these debates using the case study of the Netherlands in the early 1920s. The literature argues that it is during this decade that the Netherlands experienced her one and only traditional banking crisis from 1600 to the present day, and after which her short-lived...

The 2007-2008 financial crises has made it painfully obvious that markets may quickly turn illiquid.Moreover, recent experience has shown that distress and lack of active trading can jump “around”between seemingly unconnected parts of the financial system contributing to transforming...

The recent financial crisis has accentuated the fact that extreme outcomes have been overlookedand not dealt with adequately. While extreme value theories have existed for a long time, themultivariate variant is difficult to handle in the financial markets due to the prevalentheteroskedasticity...

I explain the key failure mechanics of large dealer banks, and some policy implications. This is not a review of the financial crisis of 2007–2009. Systemic risk is considered only in passing. Both the financial crisis and the systemic...