Fixed point theorems are the standard tool used to prove the existence of equilibria in mathematical economics. This paper shows how to prove a slight generalization of Brouwer's and Kakutani's fixed point theorems using the familiar techniques of drawing and shifting curves in the plane and is,...

Um den Wirtschaftlichkeitsanforderungen an E-Government-Dienstleistungen gerecht zu werden, werden geeignete Zahlungsverfahren benötigt, die die effiziente und sichere Vereinnahmung von Erlösen und Gebühren ermöglichen. Anbieter von Online-Transaktionen sehen sich dabei einer...

Der Diskussionsbeitrag zeigt, wie der für die Unternehmensbewertung benötigte risikolose Basiszinssatz modellgestützt aus Kapitalmarktdaten gewonnen werden kann. Dies ist die Basis für eine konsistente Bewertung, die auf den unbestimmten Begriff des "landesüblichen Zinsfußes"...

Die Marktsegmentierung zählt neben der Neuproduktplanung und Preisgestaltung zu den wesentlichen Einsatzgebieten der Conjoint-Analyse. Neben traditionell eingesetzten zweistufigen Vorgehensweisen, bei denen Conjoint-Analyse und Segmentierung in zwei getrennten Schritten erfolgen, stehen heute...

For both deterministic or stochastic regressors, as well as parametric nonlinear or linear regression functions, we prove the weak consistency of the coefficient estimators for the Type I censored quantile regression model under different censoring mechanisms with censoring points depending on...

Dixit and Norman ("Theory of International Trade", Cambridge: Cambridge University Press, 1980) showed that, under certain conditions, the world economy replicates the equilibrium of the hypothetical integrated economy without national borders in the traditional trade model with perfect...

This paper proves three theorems on growth and competition in a standard increasing variety endogenous growth model and draws conclusions for second-best competition policies. First, no growth may be better than some growth, since modest positive growth potentially requires sizeable static...

A major topic in empirical finance is correlation of default risk. Correlations are the main drivers for credit risk on a portfolio basis and for banks� capital requirements under the New Basel Accord. However, empirical evidence on the magnitude of correlations is rather scarce, mainly due to...

This paper analyses the growth effects of capital formation, exports and FDI as major drivers of economic development in Eastern Europe. The fundamental innovations are identified by empirically and theoretically motivated short- and long-run restrictions in structural cointegrated vector...

This paper derives the asymptotic normality of the nonlinear quantile regression estimator with dependent errors. The required assumptions are weak, and it is neither assumed that the error process is stationary nor that it is mixing. In fact, the notion of weak dependence introduced in this...