Artificial stock markets are built with diffuse priors in mind regarding trading strategies and price formation mechanisms. Diffuse priors are a natural consequence of the unknown relation between the various elements that drive market dynamics and the large variety of market organizations,...

Based on arguments about long-term orientation and corporate reputation, we argue that family and founder firms differ from other firms with regard to corporate social responsibility. Using Bayesian analysis, we then show that family and founder ownership are associated with a lower level of...

This paper proposes a new algorithm for target selection. This algorithm collects all frequent patterns (equivalent to frequent item sets) in a training set. These patterns are stored e?ciently using a compact data structure called a trie. For each pattern the relative frequency of the target...

Recent concepts as megaregions and polycentric urban regions emphasize that external economies are not confined to a single urban core, but shared among a collection of close-by and linked cities. However, empirical analyses of agglomeration and agglomeration externalities so-far neglects the...

This research provides a new way to validate and compare buy-till-you-defect [BTYD] models. These models specify a customer’s transaction and defection processes in a non-contractual setting. They are typically used to identify active customers in a com- pany’s customer base and to predict...

Research evidence confirms that the accumulation of knowledge contributes to the competitive advantage of firms. In the strategy consulting industry, one of the most knowledge-intensive professional services industries, however, established firms that exploited their knowledge accumulation by...

This paper offers a meta-theory concerning the relation between the general and the specific in science. This issue was recently called back to attention by Hodgson (2001). A heuristic of discovery, developed in earlier work (Nooteboom 1992, 1996, 1999b, 2000a), is used in an attempt to...

In this paper, we give an overview of state-of-the-art Operations Research models and techniques used in passenger railway transportation. For each planning phase (strategic, tactical and operational), we describe the planning problems arising there and discuss some models and algorithms to...

The purpose of the current study is to assess the extent to which auditors’ judgments are affected by client expertise, client gender and auditor gender. Prior audit research suggests that auditors place more weight on evidence received from clients who possess higher, relative to lower,...

Conventional studies of bilateral trade patterns specify a log-normal gravity equation for empirical estimation. However, the log-normal gravity equation suffers from three problems: the bias created by the logarithmic transformation, the failure of the homoscedasticity assumption, and the way...