In reality, the so called 'law of one price' does not always hold, especially since the consumers' search for information bears positive costs. This is more than often also due to the models assumption of fully informed consumers. The present paper deeply investigates the topic of positive...

Due to the recent renouncement of the public contract governing the financial scheme behind the Swiss obligatory commodity stockpiling arrangement, a new arrangement is needed that will prove acceptable to the engaged parties (the Swiss central bank, the "Schweizerische Bankiervereinigung" and...

After a short overview of the foreign trade relations of Switzerland, the present paper examines the trade flows between Switzerland and the Third World. Furthermore, it deeply investigates Swiss export stability as well as the amounts of foreign direct investment (FDI) abroad.

The ongoing globalization of production was accompanied by the fast development of information and communication systems. Especially the example of the internet shows this very clearly. Although this relatively young communication network is used by an increasing number of people, and the...

The decisive statutory provision of the EU for patent protection of genetic engineering inventions is the "Directive 98/44/ EC on the legal protection of biotechnological inventions". Its objective is the encouragement of research and development in the biotech sector. The following exposition...

In the course of requests for more dynamic models that illustrate foreign direct investment decisions, the subsequent model offers a contribution to the theoretical modelling of this issue. However, conclusions about the timing are only possible to a limited extent, since options rights are of a...

Although economic theory seems to be abstract and escapist in some cases, it nevertheless often represents the main tool in order to comprise and describe economic events sytematically. The analysis of every day news in the media clarifies this in the following paper.

The decisive statutory provision of the EU for patent protection of genetic engineering inventions is the so-called directive on biotechnological patents (DBP). Its objective is the encouragement of research and development in the genetic engineering sector. The following exposition shows that...

The purpose of this study is to formalize the choice of market entry strategy for an individual multinational enterprise (MNE) from a dynamic perspective. It is argued that incorporating a suitable treatment of irreversibility, uncertainty and flexibility related to a MNEs investment decision...

Given a commercial banking firm facing credit risk we develop a dynamic hedging model where the bank management can use credit derivatives. In a continuous-time framework optimal hedging strategies, deposit and loan decisions and consumption are studied. It is shown that the optimal hedge ratio...