There are robust gender differences in the domains of risk taking, overconfidence and competitionbehavior. However, as expertise tends to level these differences, we ask whether financialexperts still show gender dissimilarities in their domains of decision making? We analyzesurvey responses of...

This paper presents a linear programming approach to analyze and optimizeow lines with limited buer capacities and stochastic processing times. The basic ideais to solve a huge but simple linear program that models an entire simulation run of amulti-stage production process in discrete time, to...

Taxes on inheritances may induce heirs to discontinue family firms. Becausefirm dissolution incurs transaction costs, a preferential tax treatment of transferredfamily businesses seems to be desirable from a macroeconomic viewpoint.The support of dynastic succession, however, entails also a cost...

Does it make us unhappier when we compare our consumptionwith that of the Joneses or our own past achievements? This paper tries ananswer by bringing together two disparate literatures: the macro (growth)theory on habit formation and the applied literature related to the Easterlinparadox. Using...

We show that tests for a break in the persistence of a time series in the classicalI(0) - I(1) framework have serious size distortions when the actual data generatingprocess exhibits long-range dependencies. We prove that the limiting distributionof a CUSUM of squares based test depends on the...

This paper presents a profit-oriented shift scheduling approachfor inbound contact centers. The focus is on systems in which multiple agentclasses with different qualifications serve multiple customer classes with differentneeds. We assume that customers are impatient, abandon if they haveto...

Numerous (high-tax) countries presume that multinational ¯rms use their transfer-pricing policies to shift pro¯ts into countries with lower tax rates. To avoid thecorresponding loss in tax revenues, tax authorities develop constantly tighteningrules to curb transfer-price distortions. A®ected...

How is it possible that exchange rates move in the long run towards fundamentals, whileprofessionals form consistently irrational exchange rate expectations? We look at this puzzle from adifferent perspective by analyzing investor sentiment in the US-dollar market. First, long-horizonregressions...

Die FIFA Fußball-WM 2006 hat in Deutschland einen Boom bei Stadioninvestitionenausgelöst. Eine zweite Welle ist derzeit bei mittelgroßen Projekten zu beobachten, mit denenkleinere Bundesligisten und Zweitligisten den Anschluss an die Top-Klubs zu halten versuchen.[...]

This research enters new ground by presenting comparative survey evidence on assetmanagers' views and behavior in the United States, Germany, Japan and Thailand.Relying on Hofstede's four cultural dimensions, we find that cultural differencesare most helpful in understanding country differences...