This paper presents a behavioral finance model of the exchange rate. Agents forecast theexchange rate by means of very simple rules. They can choose between three groups offorecasting rules: fundamentalist, extrapolative and momentum rules. Agents using afundamentalist rule are not able to...

This paper empirically investigates the impact of both the first release of analysts' stock recommendations to a limited clientele and the subsequent dissemination of the same information in a major newspaper to a broader audience. For a sample of 1460 stock recommendations published in FuW,...

In dieser Studie wurde das Emissionsinventar des Umweltbundesamtes (UBA) für Gesamtstaubund die Feinfraktionen PM10 und PM2,5 für die Jahre 2000 – 2005 aktualisiert. Aufdieser Basis wurde ein Referenzszenario für die Entwicklung der anthropogenen Staub- undFeinstaubemissionen für die Jahre...

In this study we research user integration in the German service industry. Goal is to explorethe industrial practice with regard to four dimensions of user integration, i.e., why, whom,how, and how successful the service industry integrates to find novel service ideas. Data iscollected from a...

Virtuelle Communities (auch Online Communities, virtuelle Gemeinschaften oder VirtualCommunities) stellen einen relativ neuen und bisher nur begrenzt erforschten Untersuchungsgegenstanddar. Eine virtuelle Gemeinschaft ist eine Menge von Menschen,die sich aufgrund eines gemeinsamen Interesses,...

The goal of this chapter is twofold: First, we present an overview of the current researchon hedge fund performance. Second, we provide new evidence for the Europeanhedge fund industry. The empirical analysis scrutinizes the return patterns in thepast and alerts investors to the potential...

This paper analyzes forward-looking monetary policy rules in structural VAR’s. First, an approach for modeling a monetary policy which aims at a strict medium term inflation or output growth target is developed. Second, the ex ante inflation-output-growth volatility trade-off for a...

This paper presents novel approaches for generating sequencing rules for the carsequencing (CS) problem in cases of two and multiple processing times per station.The CS problem decides on the succession of different car models launched down amixed-model assembly line. It aims to avoid work...

Until recently, multidimensional knapsack problems (MDKP)and winner determination problems (WDP) have been studiedindependently of each other, although WDPs can bemodelled as MDKPs. State-of-the-art optimization methodsfor WDPs are exact algorithms whereas MDKPs aremainly solved using heuristics...

While the academic world is still discussing if charting works or if it is more orless something like “Voodoo finance”, the practical orientated world has been usingtechnical analysis for decades. One argument of practitioners is that technical analysisis useful to “disciplinate” the...