Future-orientation or innovativeness is a leading credo in the EU's economic policy agenda of the 21st century. It started in the year 2000 with the Lisbon Agenda, the first 10 years plan in which Europe should have become the most competitive and dynamic knowledge-based economic region in the...

Future-orientation or innovativeness is a leading credo in the EU’s economic policy agenda of the 21st century. It started in the year 2000 with the Lisbon Agenda, the first 10 years plan in which Europe should have become the most competitive and dynamic knowledge-based economic region in the...

The outline of a proposed new unbalanced bidding model is discussed. Background is provided as regards the role of item price loading, otherwise known as unbalanced bidding. Three types of loading are described, namely those of ‘front-end loading’, ‘back-end loading’ and ‘quantity...

Commodity prices again! The twentieth century has only been the latest spectator to the impacts and importance of commodity price fluctuations. It is reasonably well known that commodity price records have come down to us from the ancient civilizations of India, Mesopotamia, Egypt, Greece and...

Commodity prices again! The twentieth century has only been the latest spectator to the impacts and importance of commodity price fluctuations. It is reasonably well known that commodity price records have come down to us from the ancient civilizations of India, Mesopotamia, Egypt, Greece and...

A separation heuristic for mixed integer programs is presented that theoretically allows one to derive several families of " strong" valid inequalities for specific models and compuationally gives results as good as or better than those obtained from several existing separation routines...

In the empirical analysis of financial time series, multivariate GARCH models have been used in various forms. In most cases it is not well understood how the use of a restricted model has to be paid with loss of valuable information. We investigate the structural implications of two alternative...

This document describes the Israeli Social Accounting Matrix (SAM) for the year 2004, developed by the Agricultural and Food Policy Group at the University of Hohenheim. The SAM is a part of a larger research project which aims to analyse several economic, trade, and labour policies in the...

This note analyzes the distributional properties of Pareto Type III random variables. The orignal two parameters distribution proposed by Pareto is expanded in a three parameters version and both its density and characteristic function are derived. The analytic expression of the inverse...

This paper focuses on the valuation and hedging of gas storage facilities, using a spot-based valuation framework coupled with a financial hedging strategy implemented with futures contracts. The contributions of this paper are two-fold. Firstly, we propose a model that unifies the dynamics of...