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in the uncertainty in the market. It argues that this uncertainty can be built into pricing models using probability …
Persistent link: https://www.econbiz.de/10014851712
arguments as to why the “orthodox” statistician claims that normality is necessary. One is to enable probability interpretations …. The truth is that, even under normality, the usual probability interpretations are meaningless in practice and that, in … very similar over a wide range of differently‐shaped probability distributions.  …
Persistent link: https://www.econbiz.de/10015028383
captured by focussing on a downside case scenario and estimating its probability and severity. An expression is then developed …. Findings – The risk addendum is found to depend only on the product of the probability ( p ) and the severity ( d ) of the …
Persistent link: https://www.econbiz.de/10014941508
Compares the philosophical backgrounds of the disciplines of economics and accounting in view of complexity theory. The relationship which has existed between the two is examined as well as the problems of such inter‐disciplinary studies. Decision making, target costing and the need for future...
Persistent link: https://www.econbiz.de/10014641627
Knowledge is critical for organisational effectiveness and competitive advantage. Knowing that you know, knowing what you know, and knowing that you do not know, are critical aspects of knowledge management. Increasing emphasis is placed on the need to identify and use tacit knowledge, as well...
Persistent link: https://www.econbiz.de/10014674097
Purpose – The purpose of this paper is to examine how economic rationalism in policy development affects incomes and social cohesion within the communities in which businesses operate. Inequality of income occurs in most, if not all, countries. Historically, economic statisticians established...
Persistent link: https://www.econbiz.de/10014674193
Purpose – The purpose of this paper is to compare and contrast two types of shopping aids, that is, research‐supporting and solution‐oriented shopping aids, and examine their effectiveness, considering both consumer and situational factors. Design/methodology/approach – Expanded...
Persistent link: https://www.econbiz.de/10014674758
Purpose – The purpose of this paper is to examine the associated customer acquisition costs of public libraries. The intention of the paper is to develop awareness of the hidden costs associated with customer acquisition, and develop assessment tools or models to effectively manage the...
Persistent link: https://www.econbiz.de/10014686231
Purpose – The purpose of this paper is to address the irrationality of making budget decisions without awareness of the economic foundation of these decisions. It aims to propose that, in lieu of a universal economic principle, librarians should at least adopt the maxim, “first, do no...
Persistent link: https://www.econbiz.de/10014686275
The phenomenal growth of the Internet has persuaded many companies of its potential as a channel for outsourcing information systems applications. Application service providers (ASP) are firms that offer outsourcing application services to many organizations via the Internet. By contracting ASP,...
Persistent link: https://www.econbiz.de/10014687543