Öffentliche Mittel sind knapp. Mehr denn je muss sparsam gewirtschaftet werden. Können aber öffentliche Haushalte noch mehr sparen, ohne dass es zu schlechteren Leistungen kommt? Die vorliegende Studie belegt, daß Einsparungen sogar bei Verbesserung der Leistungen möglich sind. Auf der...

This paper presents a simple model in which research universities stock their libraries with academic journals by picking a threshold level of quality below which no subscriptions are ordered. This framework is used to analyze two sets of initiatives aimed at dealing with journal-price...

Once purchased, information goods are often shared among groups of consumers. Computer software, for example, can be duplicated and passed from one user to the next. Journal articles can be copied. Music can be dubbed. In this paper, we ask whether these various forms of sharing undermine seller...

This paper examine differences between risk-neutral and objective probability densities of future interest rates. The identification and quantification of these differences are important when risk-neutral densities (RNDs), such as option-implied RNDs, are used as indicators of actual beliefs of...