We examine merger activity and its effect on asset pricing in a firm network economy. Mergers create internal capital markets which change the cash flow risk structure of the merging firms. We propose a solution concept for coalitional games without the superadditivity axiom, which extends...

Most would agree that priority setting is necessary to avoid a financial collapse in the health sector. It is much harder to find criteria how to do it. Discussions lead straight to the principles of decision making. But since all theories depend on assumptions given to make them work, debates...

We argue that the literature concerning the valuation of non-market, spatially defined goods (such as those provided by the natural environment) is crucially deficient in two respects. First, it fails to employ a theoretically consistent structural model of utility to the separate and hence...

The main objectives of this synthesis of the geographical evaluations managed during the period 1998-2006 by the Joint Evaluation Unit (JEU) and the Delegations of the European Union in partner countries were as follows: i.to show the evolution of the Commission’s methodological approach to...

The concept of ecosystems services has become an important model for linking the functioning of ecosystems to human welfare benefits. Understanding this link is critical in decision-making contexts. While there have been several attempts to come up with a classification scheme for ecosystem...

Dieser Sammelband untersucht am Beispiel der Evaluation der Arbeitsmarktprogramme „EQUAL“ und „Perspektive 50plus“, inwieweit die Evaluation einen Beitrag zur Nachhaltigkeit von politischen Programmen leisten kann. Zu Wort kommen Projektleiter, Politiker sowie Mitarbeiter der DeGEval...