For years, businesses have complained about the costs of regulatory compliance. On the other hand, society is becoming increasingly aware of the environmental, safety, health, financial, and other risks of business activity. Government oversight seems to be one of the answers to safeguard...

Entrepreneurship stellt eine große Herausforderung nicht nur für den einzelnen Unternehmer, sondern auch für die Gesamtwirtschaft dar. Zahlreiche Aspekte müssen berücksichtigt werden - von den persönlichen Voraussetzungen, die der Unternehmer mitbringen sollte, über die verschiedenen...

Bayesian learning provides a core concept of information processing in financial markets. Typically it is assumed that market participants perfectly know the quality of released news. However, in practice, news' precision is rarely disclosed. Therefore, we extend standard Bayesian learning...

In this paper we evaluate the long-term performance of the Polish public pension system from three perspectives: fiscal stability, intergenerational redistribution and adequacy of pension benefits. We assess the two recent public pension reforms undertaken in Poland: 1) the shift of a part of...

Das Lehrbuch bietet einen umfassenden Überblick über das Thema Entrepreneurship. Anerkannte wissenschaftliche Experten erläutern in 12 Kapiteln die Grundkonzepte des Entrepreneurship sowie die wesentlichen Aspekte für ein erfolgreiches unternehmerisches Engagement. In jedem Kapitel sorgen...

We analyze how markets adjust to new information when the reliability of news is uncertain and has to be estimated itself. We propose a Bayesian learning model where market participants receive fundamental information along with noisy estimates of news' precision. It is shown that the efficiency...

Global grain production has increased dramatically during the past 50 years, mainly as a consequence of intensified land management and introduction of new technologies. For the future, a strong increase in grain demand is expected, which may be fulfilled by further agricultural...