The behaviour of market agents has always been extensively covered in the literature. Risk averse behaviour, described by von Neumann and Morgenstern (1944) via a concave utility function, is considered to be a cornerstone of classical economics. Agents prefer a fixed profit over uncertain...

Teachware is a set of computer software tools for computeraided interactive teaching of certain knowledge elements. The construction of teachware for statistical knowledge is a rather young field since it heavily depends on data structures and graphical interaction possibilities. In this paper...

One of the major cost factors in car manufacturing is the painting of body and other parts such as wing or bonnet. Surprisingly, the painting may be even more expensive than the body itself. From this point of view it is clear that car manufacturers need to observe the painting process carefully...

A great proportion of stock dynamics can be explained using publicly available information. The relationship between dynamics and public information may be of nonlinear character. In this paper we offer an approach to stock picking by employing so-called decision trees and applying them to XETRA...

Let X1,X2,… be independent random variables observed sequentially and such that X1,…,Xθ−1 have a common probability density p0, while Xθ,Xθ+1,… are all distributed according to p1≠p0. It is assumed that p0 and p1 are known, but the time change θ∈Z+ is unknown and the goal is to...