In parliament, individual representatives vote with a certain probability according to their constituents’ preferences. Thus, the mechanism of the Condorcet Jury Theorem can be fruitfully applied to parliamentary representation: The probability that a majority of representatives votes...

Die internationale Beachtung der Forschungsergebnisse in der Wirtschaftsinformatik hat in den letzten Jahren an Bedeutung gewonnen. Dabei wird dem kritischen Diskurs ein wachsender Stellenwert eingeräumt. Hier gilt es, den wissenschaftlichen Nachwuchs in der Konzeption und Durchführung der...

The study here reviews the institutional structure of the Sudanese government. Truly, though it is stigmatized as totalitarian, the structure is phenotypically perfect. Ministry of Ministries council is supposed to cater for analyzing data concerning ministries performance, drawing strategic...

In this paper, we describe what economists have learned about differences between group and individual decision-making. This literature is still young, and in this paper, we will mostly draw on experimental work (mainly in the laboratory) that has compared individual decision-making to group...

We study the role of information exchange, leadership and coordination in team or partnership structures. For this purpose, we view individuals jointly engaging in productive processes—a ‘team’—as endowed with individual and privately held information on the joint production process....

This article aims to build through the collection of inputs from prior research, regulatory input and practitioner's experience, a comprehensive definition of risk.Risk is not measurable uncertainty nor volatility. Risk is a three part concept: (1) risk is the potential that events may have an...

Investors face a dizzying array of choices regarding where to invest their funds and increasingly rely on experts for advice. Most advice about securities is provided by investment advisers or broker-dealers, legal categories with little meaning to most people but fraught with consequences....

The importance of investment advisers to the financial well-being of their clients cannot be overstated. Individuals and institutions entrust trillions of dollars to investment advisers to manage on their behalf. This paper discusses and explains fiduciary principles in investment advice....

Using a multi-stage filtering procedure based on both algorithms and human judgement, we develop a Chinese Financial Sentiment Dictionary (CFSD) with the hope to help advance textual analysis of Chinese documents in accounting and finance. There are 1,489 negative words and 1,108 positive words...

Multiple agent-based models (ABM) on social-ecological systems exist in parallel investigating similar research questions. However, the choice of a particular human decision model is often not sufficiently empirically or theoretically substantiated in the model documentation. Furthermore, model...