The book discusses various construction principles for translation planes and spreads from a general and unifying point of view and relates them to the theory of kinematic spaces. The book is intended for people working in the field of incidence geometry and can be read by everyone who knows the basic facts about projective and affine planes. The methods developed work especially well for topological spreads of real and complex vector spaces. In particular, a complete classification of all semifield spreads of finite dimensional complex vector spaces is obtained.
The book discusses various construction principles for translation planes and spreads from a general and unifying point of view and relates them to th...
Practitioners in process industry have to increasingly adapt their global production networks to changes in the competitive environment. A majority of the supply network design models proposed by academia do not sufficiently capture the questions that have to be resolved. This book provides the necessary operations research decision support tools. It builds on an example of the specialty chemicals industry.
Practitioners in process industry have to increasingly adapt their global production networks to changes in the competitive environment. A majority...
theory, whichformalizesa dynamiceconomicsystemasa systemofdi?erence, or di?erential, equations. There equilibria mean equilibrium trajectories of the whole evolution that, in a certain sense, are optimal. A particularly un- tisfactory feature of this conceptualization of an equilibrium, however, is the factthattheintertemporaloptimizingapproachcompletelypredeterminesthe whole future of the economic system. This closed loop approach gives rise to the common reproach that economic theory is predominantly concerned with the question of how the economic system ought to behave rather than with the...
theory, whichformalizesa dynamiceconomicsystemasa systemofdi?erence, or di?erential, equations. There equilibria mean equilibrium trajectories of the ...
This book presents in detail methodologies for the Bayesian estimation of sing- regime and regime-switching GARCH models. These models are widespread and essential tools in n ancial econometrics and have, until recently, mainly been estimated using the classical Maximum Likelihood technique. As this study aims to demonstrate, the Bayesian approach o ers an attractive alternative which enables small sample results, robust estimation, model discrimination and probabilistic statements on nonlinear functions of the model parameters. The author is indebted to numerous individuals for help in the...
This book presents in detail methodologies for the Bayesian estimation of sing- regime and regime-switching GARCH models. These models are widespread ...
There is convergent consensus among scientists that many social, economic and ?nancial phenomena can be described by a network of agents and their inter- tions. Surprisingly, even though the application ?elds are quite different, those n- works often show a common behaviour. Thus, their topological properties can give useful insights on how the network is structured, which are the most important nodes/agents, how the network reacts to new arrivals. Moreover the network, once included into a dynamic context, helps to model many phenomena. Among the t- ics in which topology and dynamics are the...
There is convergent consensus among scientists that many social, economic and ?nancial phenomena can be described by a network of agents and their int...
This book examines agent-based methods that can be used to derive results from complex models related to market mechanisms, evolution, decision making, and information economics.
This book examines agent-based methods that can be used to derive results from complex models related to market mechanisms, evolution, decision mak...
A major theme of this book is the development of a consistent unified model framework for the evaluation of bond options. In general options on zero bonds (e.g. caps) and options on coupon bearing bonds (e.g. swaptions) are linked by no-arbitrage relations through the correlation structure of interest rates. Therefore, unspanned stochastic volatility (USV) as well as Random Field (RF) models are used to model the dynamics of entire yield curves. The USV models postulate a correlation between the bond price dynamics and the subordinated stochastic volatility process, whereas Random Field...
A major theme of this book is the development of a consistent unified model framework for the evaluation of bond options. In general options on zer...
"Valuing portfolios of options embedded in investment decisions is one of the most important and challenging problems in real options and corporate finance in general. It is important for any corporation facing strategic resource allocation decisions, be it in pharma managing the pipeline of drugs, in telecom selecting a set of technological alternatives, or in venture capital or private equity investing in a portfolio of ventures. This work tackles real options decision making from a portfolio perspective head on within an overall budget constraint context in which interdependencies among...
"Valuing portfolios of options embedded in investment decisions is one of the most important and challenging problems in real options and corporate fi...
Electricity is an essential commodity traded at power exchanges. Its price is very volatile within a day and over the year. This raises questions about the efficiency of the trading rules. The author develops a non-cooperative auction model analyzing the bidding behavior of producers at power exchanges. Producers are limited by the production capacity of their power plants. Production costs are affiliated. This allows for independence or positive correlation. The author analyzes and compares a uniform-price, a discriminatory, and a generalized second-price auction. Optimal bids, cost...
Electricity is an essential commodity traded at power exchanges. Its price is very volatile within a day and over the year. This raises questions a...
1. 1 Objective of the Study Vector autoregressive (VAR) models have become one of the dominant research tools in the analysis of macroeconomic time series during the last two decades. The great success of this modeling class started with Sims' (1980) critique of the traditional simultaneous equation models (SEM). Sims criticized the use of 'too many incredible restrictions' based on 'supposed a priori knowledge' in large scale macroeconometric models which were popular at that time. Therefore, he advo- cated largely unrestricted reduced form multivariate time series models, unrestricted VAR...
1. 1 Objective of the Study Vector autoregressive (VAR) models have become one of the dominant research tools in the analysis of macroeconomic time se...
