Einkaufen ist im Leben der Menschen seit vielen Jahren nicht mehr nur die Versorgung mit Lebensmitteln und Waren, sondern zugleich ein Freizeiterlebnis. Die Mehrfachqualität dieser Daseinsgrundfunktion 'Versorgung' ist dadurch ein bestimmender Faktor für die Entwicklung der örtlichen und...

Bei der Ansiedlung großflächiger Einzelhandelsvorhaben stellt sich stets die Frage nach ihrer Verträglichkeit. Zur Beantwortung dieser Frage sind Einzelhandelsgutachten unerlässlich. Dabei stehen die Ergebnisse und nicht zuletzt die Einzelhandelsgutachten selbst immer wieder in der Kritik,...

There has been a recent debate in the marketing literature concerning the possible mispricing of customer satisfaction. While earlier studies claim that portfolios with attractive out-of-sample properties can be formed by loading on stocks whose firms enjoy high customer satisfaction, later...

This paper introduces a new method for deriving covariance matrix estimators that are decision-theoretically optimal. The key is to employ large-dimensional asymptotics: the matrix dimension and the sample size go to infinity together, with their ratio converging to a finite, nonzero limit. As...

The mispricing of marketing performance indicators (such as brand equity, churn, and customer satisfaction) is an important element of arguments in favor of the financial value of marketing investments. Evidence for mispricing can be assessed by examining whether or not portfolios composed of...

This paper introduces a new method for deriving covariance matrix estimators that are decision-theoretically optimal within a class of nonlinear shrinkage estimators. The key is to employ large-dimensional asymptotics: the matrix dimension and the sample size go to infinity together, with their...

Markowitz (1952) portfolio selection requires an estimator of the covariance matrix of returns. To address this problem, we promote a nonlinear shrinkage estimator that is more flexible than previous linear shrinkage estimators and has just the right number of free parameters (that is, the...

This paper shows how asymptotically valid inference in regression models based on the weighted least squares (WLS) estimator can be obtained even when the model for reweighting the data is misspecified. Like the ordinary least squares estimator, the WLS estimator can be accompanied by...