Informationen gewinnen als betriebliche Ressource eine immer größer werdende Bedeutung. Daraus ergibt sich für das Management einer Organisation die Herausforderung, organisationale Strukturen zu gestalten, die dieser zunehmenden Bedeutung Rechnung tragen, um somit diese Ressource erfolgreich...

In an incomplete market we study the optimal consumption-portfolio decision of an investor with recursive preferences of Epstein-Zin type. Applying a classical dynamic programming approach, we formulate the associated Hamilton-Jacobi-Bellman equation and provide a suitable verification theorem....

Nash (1951) claimed that every game must have a solution, even if it means a mixed strategy. His method is to find a probability that equalizes the two expected payoffs. Though simple, the calculation can be tedious. To avoid unnecessary mistake, this paper works out an algorithm to do the...

We propose two modifications to the method of endogenous grid points that greatly decreases the computational time for life cycle models with many exogenous state variables. First, we use simulated stochastic grids on the exogenous state variables. Second, when we interpolate to find the...