Research on Entrepreneur Environment Management Evaluation Method Derived from Advantage Structure

Size: px
Start display at page:

Download "Research on Entrepreneur Environment Management Evaluation Method Derived from Advantage Structure"

Transcription

1 Research Journal of Applied Sciences, Engineering and Technology 6(1): , 2013 ISSN: ; e-issn: Maxwell Scientific Organization, 2013 Subitted: Noveber 08, 2012 Accepted: Deceber 28, 2012 Published: June 05, 2013 Research on Entrepreneur Environent Manageent Evaluation Method Derived fro Advantage Structure Zhang Li-Li, Hou Xi-Lin and Wang Li School of Business Adinistration, University of Science and Technology Liaoning, Anshan , China Abstract: In this study, we put forward ultilayer behavior evaluation indicator syste and dynaic ultistage evaluation ethod based on individual advantage. Fro the perspective of best to each evaluated entrepreneur to deterine each object's evaluation indicator weight vector that reflects advantages and disadvantages, one stage coprehensive evaluation ethod is put forward. Each stage weight is driven fro individual coprehensive value with the thought of best to each entrepreneur, so to ran all the objects on ultistage. It is helpful to encourage entrepreneur bearing environent society and sustainable developent. Through calculation exaple, feasibility and effectiveness of the ethod is proved. Keywords: Advantage structure, coprehensive evaluation, entrepreneur environent anageent behavior indicator, environental econoy, ultistage evaluation INTRODUCTION Environental protection becoes ore and ore iportant for enterprises to enhance copetitiveness and social reputation (Nishitani et al., 2012). Entrepreneurs' environent anageent activities face lots of challenges (Kali, 2010; Wang and Chin, 2009; Franlin and Hao, 2008), they are very iportant for environental protection results (Dietrich and Luboir, 2010), it is helpful to ae entrepreneurs carry on good effort. Different entrepreneurs face different inner and outside situations, it is essential to evaluate according to individual advantages, it is helpful for entrepreneurs to iprove their environental anageent behavior sustainable. Entrepreneur environental anageent is a process with different stages, dynaically ultistage evaluation ethod according to advantages is of iportant theoretical eaning and significant practical value. Evaluation ethods have achieved lots of progress. Most of the existing ethods evaluate according to the sae evaluation indicators and weights, such as linear weighted ethod, goal prograing ethod, analytic hierarchy process, econoic analysis ethod, principal coponent analysis, factor analysis, grad scale-up ethod, fuzzy coprehensive evaluation, etc. However, evaluated objects want to evaluate based on weight apt to individual advantages, Data Envelopent Analysis (DEA) (Jia and Liu, 2012) reflects the thought of individual advantages, but it can not raning all the evaluated objects. Jing you evaluation ethods syste have achieved success in soe level. Since these ethods satisfy the needs of the reality that different objects have different advantages and disadvantages. If evaluating according to sae standard, it ay cause unfair and discourageent, different people have different opinions about iportant, they usually thin self advantage is ore contributable. In order to eet this ind of actual needs, the indicator weights have to be deterined for each object. This study researches on evaluation ethods according to individual advantage structure of each evaluated entrepreneur. The evaluation ethods contain three parts, the first one is entrepreneur environent anageent behavior individual advantage structure identification ethod based on goal prograing odel and optiization algorith; the second one is single stage evaluation ethod based on individual advantage weights layer by layer; the third one is ultistage evaluation according to each stage advantage weight. ENTREPRENEUR ENVIRONMENTAL MANAGEMENT BEHAVIOR EVALUATION INDICATOR SYSTEM Coprehensively considering the doestic and foreign environent evaluation syste, evaluation indicator syste is constructed (Table 1). Individual advantage structure identification odel: Taing Zhao et al. (2009, 2010) research achieveents as reference, according to the unifor evaluation Corresponding Author: Hou Xi-Lin, School of Business Adinistration, University of Science and Technology Liaoning, Anshan , China, Tel.:

2 Table 1: Entrepreneur environent anageent behavior evaluation indicator syste Category Contents Policy anageent Board taing full Clear coitent or state Passed environental Inforation publication Environental har Coprehensive Energy conservation and litigation environent report eission reduction data Counal participation Personnel full Donations for the Cooperation with NGO participation environental protection Recycling econoy Product recycling syste Solid dangerous goods Investent guarantee in disposal science and technology Worldwide technical Perfor the sae policy Basic environental data Incoe and investent standardization data Incidence relation Internal personnel Supply and areting Custoer relationship relationship relationship Developent history Reward or punishent Environental protection Course of global goal developent Environental protection Degree of convenient inquires Interaction with the counity Corresponding easures to ae up Environental litigation proportion Relationship with people being hurt Environent contribution indicator syste and evaluated object's indicator value vector, indicator weight vector fro the perspective of best to evaluated object is what we called individual advantage structure. Taing three layer evaluation indicator syste as exaple, individual advantage structure can be identified as the following odels. The top index is expressed as z, interediate index is y 1, y 2, y 3... y, interediate index of i is expressed as y i, which is consisted by p i basic index, expressing as x i1, x i2... x ipi. At period t, there are evaluated entrepreneurs, the basic indicator value (which is obtained by average of all the scores of evaluator giving) of each entrepreneur is expressed by A : the shorter the distance, the ore lie to ideal status, the better = The ideal value basic indicator j of iddle level = Entrepreneur i's basic level the j indicator of iddle level = Decision variable which aes the distance sallest, it is also the basic indicator x ij weight fro the top level x ij Middle level indicator to its basic level indicator advantage structure identification odel: xp x x11 t x12 t t x21 t x22 t p t At x t x t t t 1, 2,, P x n1 n2 p According to the established evaluation index syste and evaluation ethod (goal prograing odel) at period t, evaluation indicator weights are deterined fro the perspective of ost favorable to evaluation entrepreneur respectively according to indicator value vector. Since there are n evaluated entrepreneurs, there are n weight vectors; each evaluated entrepreneur has different individual advantage structure. Advantage structure identification odels fro layer to layer are the following: (1) Top level to basic level advantage structure identification odel: in d ( x, x ) ( x x ) p * 2 * 2 i i wij j ij 1 j1 p wij 1 j1 wij0, 1, 2, ; j 1, 2,, p st.: 1 (2) = The distance between evaluated the entrepreneur i to ideal entrepreneur, 161 in d x, x p x x i i ij ij ij j 1 p ij j 1 st.: 1 ij 0 j 1, 2, p (3) = The distance between the evaluated entrepreneur i to ideal entrepreneur about iddle level indicator = The ideal value of j the basic indicator of iddle level = Entrepreneur i 's j th basic indicator of iddle level = Decision variable which aes the distance sallest, it is also the basic indicator x ij advantage weight fro direct iddle indicator x ij Top level indicator z to iddle level indicator y i advantage structure identification odel: in (, ) ( ) di yi y i yi yi 1.: i 1 1 st 0, 1, 2,..., i p i ( ij ) ( ij ij ) j1 y x x (4)

3 = The ideal value of indicator. when x * ij = x ij, y * i = 0 The solution set of function (1) is: If there is at least one evaluation value equal to ideal value, then the su of the indicators which reach the ideal value is 1, other index weights are all 0 If there is no evaluation value reaching ideal value, then, the weight can be obtained by: 1 p 1 ( ) w i 1, 2,..,, j 1, 2,..., p. (5) * ij * 2 i1 j1 xij xij * 2 ( xij xij ) By inference, solutions of other identification odels can be obtained. Evaluation odel of entrepreneur environental anageent behavior based on individual advantage structure: According to each evaluated entrepreneur s advantage structure (indicator weight vector), we can get n evaluation results on each evaluated entrepreneur. Through averaging all the individual advantage structure (indicator weight), we can get evaluation indicator weight layer by layer, the evaluation odel of entrepreneur i is of each layer is as following. In a note, top indicator coprehensive value calculation according to odel (6) and (8) are the sae: Top level indicator coprehensive value according to basic indicator is: y d x x w x x (6) p i i i j j ij 1 j1 * *2 * 2 Middle level coprehensive value according to basic indicator is: d x x p *2, x x 2 i i j ij ij j 1 (7) Top level coprehensive value fro iddle level indicator: coprehensive value is obtained. Each period value paraeter can be obtained according to odel (9): in (, ) ( ) P dt z t z t z t z t wt t 1 P.: t 1 t 1 st 0, t 1, 2,..., P t (9) We can get final evaluation result of each entrepreneur according to odel (10): (10) P *2 * 2 t ( ) t t t 1 Z z z According to the logic of reasoning layer by layer, the top layer final evaluation result can be obtained of each entrepreneur. CALCULATION EXAMPLE AND DISCUSSION Calculation exaple: There are 5 entrepreneurs needing evaluation and raning on six periods. Confined to the length of the thesis, all the initial data can be seen in attached schedule. Table 2 displays policy anageent initial data of evaluated objects as exaple. According to odel (3), five evaluated entrepreneurs policy anageent indicator individual advantage structures are shown in Table 3, according to odel (7), iddle level indicator coprehensive value is shown in Table 4, According to odel (4), five evaluated entrepreneurs top to iddle level individual advantage structures are shown in Table 5, according to odel (8), top level indicator coprehensive value is calculated, the results are shown in Table 6. Siilarly, six periods top level coprehensive value of each evaluated entrepreneur can be calculated. According to odel (9) and (10) and obtained each period coprehensive value, we can get the final result of each entrepreneur, entrepreneur 1 ulti-period value is 0.201, entrepreneur 2's value is 0.197, entrepreneur 3's value is 0.213, entrepreneur 4's value is 0.253, entrepreneur 5's value is And the raning result is: entrepreneur 5 entrepreneur 2 entrepreneur 1 entrepreneur 3 entrepreneur 4. d y y y y (8) * *2 * 2 i ( i, ) ( i i) 1 Multi-period entrepreneur environent anageent behavior evaluation odel: According to function (6)-(8), each period entrepreneur's 162 Discussion: The bigger value paraeter eans the better perfored evaluated entrepreneur. According to Table 3, entrepreneur 1 has advantage on environental protection clear coitent or state and passed environental, but has disadvantages on other indicators. By inference,

4 Table 2: Original data of taing policy anageent as exaple Environent anageent and policy anageent Board taing full Clear coitent or state Passed environental Environental protection Entrepreneur Entrepreneur Entrepreneur Entrepreneur Entrepreneur Table 3: Middle level to basic level indicator advantage structure at period t Environent anageent and policy anageent Board taing full Clear coitent or state Passed environental Environental protection Entrepreneur Entrepreneur Entrepreneur Entrepreneur Entrepreneur Table 4: Middle level indicator coprehensive value at period t Policy anageent Entrepreneur Entrepreneur Entrepreneur Entrepreneur Entrepreneur Coprehensive value Raning Table 5: Top level to iddle level indicator advantage structure at period t Environent anageent Policy anageent Inforation publication Counal participation Recycling econoy Worldwide technical standardization Incidence relation Developent history Entrepreneur Entrepreneur Entrepreneur Entrepreneur Entrepreneur Table 6: Top level coprehensive value at period t Entrepreneur 1 Entrepreneur 2 Entrepreneur 3 Entrepreneur 4 Entrepreneur 5 Entrepreneur 1 angle Entrepreneur 2 angle Entrepreneur 3 angle Entrepreneur 4 angle Entrepreneur 5 angle Coprehensive value Raning other three entrepreneurs advantages and disadvantages can be identified. According to Table 4, about iddle level indicator policy anageent, fro the perspective of entrepreneur 1, according to entrepreneur 1's advantage structure, the distance value is 0, according to entrepreneur 2's advantage structure; t entrepreneur1's distance value is Entrepreneur 1 value is 0.49, raning fourth. Entrepreneur 2 value is 0.32, raning second. Entrepreneur 3 value is 0.59, raning fifth. Entrepreneur 4 value is 0.26, raning first. Entrepreneur 5 value is 0.40, raning third. According to Table 5, entrepreneur 1 has advantage on policy anageent, inforation 163 publication, recycling econoy and worldwide technical standardization, has disadvantages on other indicators. Entrepreneur 2 has advantage on recycling econoy, incidence relation and developent history, has disadvantages on other indicators. And the lie, advantages and disadvantages of entrepreneur 3, entrepreneur 4 and entrepreneur 5 are identified. According to Table 6, entrepreneur 1's top coprehensive value is 0.23, raning fourth. Entrepreneur 2's top value is 0.17, raning first. Entrepreneur 3's top value is 0.20, raning second. Entrepreneur 4's top value is 0.23, raning third. Entrepreneur 5's top value is 0.27, raning fifth.

5 CONCLUSION Suarizing the enterprise developent progress, it is not difficult to find that enterprise develop and ae progress as entrepreneurs actively exploring and acting in atch with external environental developent needs according to the inner quality of the enterprise. However, the situation of the environent and the enterprise condition inevitably bring about different behaviors of entrepreneurs. And different environental anageent behavior brings different benefits for the society. Thus, in order to encourage entrepreneurs to protect the environent according to one's own advantages and disadvantages, it is iportant to evaluate according to environental anageent advantages. This study builds up an evaluation odel based on each evaluation objects' individual advantage characteristics. Obviously, each entrepreneur hopes to be evaluated by axiization environental protection or wor efforts and obtaining achieveents by standing out their individual advantage characteristics. Therefore, there is a reality deand for evaluation ethod based on entrepreneur's advantage environental protection characteristic. Furtherore, there are different econoy situations aong different developent stages, so, considering of dynaic ulti-stage evaluation is necessary. ACKNOWLEDGMENT This study was supported by the National Natural Science Foundation of China (No ) and China Postdoctoral Science Foundation (No. 2012M511153). Franlin, F.H. and H.P. Hao, Raning of units on the DEA frontier with coon weights [J]. Cop. Oper. Res., 35(5): Jia, Y.P. and R.Z. Liu, Study of the energy and environental efficiency of the Chinese econoy based on a DEA Model. Proc. Env. Sci., (13): Kali, U.S., Corporate environentalis in a sall eerging econoy: Staeholder perceptions and the influence of fir characteristics. Corpor. Soc. Responsib. Environ. Manag., 18(2): Nishitani, K., S. Kaneo, H. Fujii and S. Koatsu, Are firs' voluntary environental anageent activities beneficial for the environent and business? An epirical study focusing on Japanese anufacturing firs [J]. Environ. Manage., 30(105): Wang, Y.M. and K.S. Chin, A new data envelopent analysis ethod for priority deterination and group decision aing in the analytic hierarchy process. Europ. J. Oper. Res., 195(1): Zhao, X.N., E.F. Dong and B.L. Wang, An individual agent evaluation ethod and its application in standard target syste. Manag. Rev. Chinese, 221(23): Zhao, X.N., L.L. Zhang and F. Wang, Research on ethod and application of group behav ior recognition atch better conforing to the natural rule [J]. Oper. Res. Manag. Sci., 19(2): REFERENCES Dietrich, E. and L. Luboir, Effect of corporate econoic perforance on fir-level environental perforance in a transition econoy. Env. Resour. Econ., 46(3):

PRODUCTION COSTS MANAGEMENT BY MEANS OF INDIRECT COST ALLOCATED MODEL

PRODUCTION COSTS MANAGEMENT BY MEANS OF INDIRECT COST ALLOCATED MODEL PRODUCTION COSTS MANAGEMENT BY MEANS OF INDIRECT COST ALLOCATED MODEL Berislav Bolfek 1, Jasna Vujčić 2 1 Polytechnic Slavonski Brod, Croatia, berislav.bolfek@vusb.hr 2 High school ''Matija Antun Reljković'',

More information

Analysis of the purchase option of computers

Analysis of the purchase option of computers Analysis of the of coputers N. Ahituv and I. Borovits Faculty of Manageent, The Leon Recanati Graduate School of Business Adinistration, Tel-Aviv University, University Capus, Raat-Aviv, Tel-Aviv, Israel

More information

Evaluation on the Growth of Listed SMEs Based on Improved Principal Component Projection Method

Evaluation on the Growth of Listed SMEs Based on Improved Principal Component Projection Method Proceedings of the 7th International Conference on Innovation & Manageent 519 Evaluation on the Growth of Listed SMEs Based on Iproved Principal Coponent Projection Method Li Li, Ci Jinfeng Shenzhen Graduate

More information

Research on the Management Strategy from the Perspective of Profit and Loss Balance

Research on the Management Strategy from the Perspective of Profit and Loss Balance ISSN: 2278-3369 International Journal of Advances in Manageent and Econoics Available online at: www.anageentjournal.info RESEARCH ARTICLE Research on the Manageent Strategy fro the Perspective of Profit

More information

The Social Accounting Matrix (SAM)

The Social Accounting Matrix (SAM) Università degli Studi di Roa "Tor Vergata The Social Accounting Matrix (SAM) Methodology and Web site Federica Alfani 17 Maggio 2009 The Social Accounting Matrix (SAM) Iportant aspects related to this

More information

Research Article Analysis on the Impact of the Fluctuation of the International Gold Prices on the Chinese Gold Stocks

Research Article Analysis on the Impact of the Fluctuation of the International Gold Prices on the Chinese Gold Stocks Discrete Dynaics in Nature and Society, Article ID 308626, 6 pages http://dx.doi.org/10.1155/2014/308626 Research Article Analysis on the Ipact of the Fluctuation of the International Gold Prices on the

More information

A Pricing Model for Milk Based on Cost of Production

A Pricing Model for Milk Based on Cost of Production Tropical Agricultural Research Vol: 9: 3-334 (007) A Pricing Model for Mil Based on Cost of Production V Saravanauar and DK Jain Agribusiness Developent Division Tail Nadu Agricultural University Coibatore

More information

Mexico. February 3, 2015

Mexico. February 3, 2015 1 Mexico 2014 February 3, 2015 Disclaier 2 IMPORTANT INFORMATION Banco Santander, S.A. ( Santander ) Warns that this presentation contains forward-looking stateents within the eaning of the U.S. Private

More information

Research Article A Two-Stage Model for Project Optimization in Transportation Infrastructure Management System

Research Article A Two-Stage Model for Project Optimization in Transportation Infrastructure Management System Matheatical Probles in Engineering, Article ID 914515, 8 pages http://dx.doi.org/10.1155/2014/914515 Research Article A wo-stage Model for Project Optiization in ransportation Infrastructure Manageent

More information

... About Higher Moments

... About Higher Moments WHAT PRACTITIONERS NEED TO KNOW...... About Higher Moents Mark P. Kritzan In financial analysis, a return distribution is coonly described by its expected return and standard deviation. For exaple, the

More information

Study on the Risk Transmission Mechanism of Rural Banks in China *

Study on the Risk Transmission Mechanism of Rural Banks in China * 06 nd International Conference on Modern Education and Social Science (MESS 06) ISBN: 978--60595-346-5 Study on the isk Transission Mechanis of ural Banks in China * Shan-Shan WANG,,a, Jian-Guo WEI,b,

More information

A NUMERICAL EXAMPLE FOR PORTFOLIO OPTIMIZATION. In 2003, I collected data on 20 stocks, which are listed below: Berkshire-Hathaway B. Citigroup, Inc.

A NUMERICAL EXAMPLE FOR PORTFOLIO OPTIMIZATION. In 2003, I collected data on 20 stocks, which are listed below: Berkshire-Hathaway B. Citigroup, Inc. A NUMERICAL EXAMPLE FOR PORTFOLIO OPTIMIZATION In 3, I collected data on stocks, which are listed below: Sybol ADBE AMZN BA BRKB C CAT CSCO DD FDX GE GLW GM INTC JNJ KO MO MSFT RTN SBC Nae Adobe Systes

More information

Production, Process Investment and the Survival of Debt Financed Startup Firms

Production, Process Investment and the Survival of Debt Financed Startup Firms Babson College Digital Knowledge at Babson Babson Faculty Research Fund Working Papers Babson Faculty Research Fund 00 Production, Process Investent and the Survival of Debt Financed Startup Firs S. Sinan

More information

Project selection by using AHP and Bernardo Techniques

Project selection by using AHP and Bernardo Techniques International Journal of Huanities and Applied Sciences (IJHAS) Vol. 5, No., 06 ISSN 77 4386 Project selection by using AHP and Bernardo Techniques Aza Keshavarz Haddadha, Ali Naazian, Siaak Haji Yakhchali

More information

Foreign Investment, Urban Unemployment, and Informal Sector

Foreign Investment, Urban Unemployment, and Informal Sector Journal of Econoic Integration 20(1), March 2005; 123-138 Foreign Investent, Urban Uneployent, and Inforal Sector Shigei Yabuuchi Nagoya City University Haid Beladi North Dakota State University Gu Wei

More information

Implementation of MADM Methods in Solving Group Decision Support System on Gene Mutations Detection Simulation

Implementation of MADM Methods in Solving Group Decision Support System on Gene Mutations Detection Simulation Ipleentation of MADM Methods in Solving Group Decision Support Syste on Gene Mutations Detection Siulation Eratita *1, Sri Hartati *2, Retantyo Wardoyo *2, Agus Harjoko *2 *1 Departent of Inforation Syste,

More information

How Integrated Benefits Optimization Can Benefit Employers & Employees

How Integrated Benefits Optimization Can Benefit Employers & Employees Integrated Benefits Optiization A Perspective Partners White Paper How Integrated Benefits Optiization Can Benefit Eployers & Eployees Executive Suary Eployers and eployees soeties see to be on opposite

More information

Research Article Concession Period Decision Models for Public Infrastructure Projects Based on Option Games

Research Article Concession Period Decision Models for Public Infrastructure Projects Based on Option Games Matheatical Probles in Engineering Volue 2015, Article ID 671764, 9 pages http://dx.doi.org/10.1155/2015/671764 Research Article Concession Period Decision Models for Public Infrastructure Projects Based

More information

CHAPTER 2: FUTURES MARKETS AND THE USE OF FUTURES FOR HEDGING

CHAPTER 2: FUTURES MARKETS AND THE USE OF FUTURES FOR HEDGING CHAPER : FUURES MARKES AND HE USE OF FUURES FOR HEDGING Futures contracts are agreeents to buy or sell an asset in the future for a certain price. Unlike forward contracts, they are usually traded on an

More information

Endogenous Labor Supply, Rigid Factor Prices And A Second Best Solution

Endogenous Labor Supply, Rigid Factor Prices And A Second Best Solution Econoic Staff Paper Series Econoics 6-1975 Endogenous Labor Supply, Rigid Factor Prices And A Second Best Solution Harvey E. Lapan Iowa State University Follow this and additional works at: http://lib.dr.iastate.edu/econ_las_staffpapers

More information

William J. Clinton Foundation

William J. Clinton Foundation Willia J. Clinton Foundation Independent Accountants Report and Consolidated Financial Stateents Deceber 31, 211 and 21 Willia J. Clinton Foundation Deceber 31, 211 and 21 Contents Independent Accountants

More information

Author's Accepted Manuscript

Author's Accepted Manuscript Author's Accepted Manuscript Managing channel profits of different cooperative Models in closed-loop supply chains Zu-JunMa, Nian Zhang, Ying ai, Shu Hu PII: OI: eference: To appear in: S0305-0483(5004-3

More information

Optimal Dynamic Pricing for Assembly Product Supply Chain

Optimal Dynamic Pricing for Assembly Product Supply Chain Aerican Journal of Operations Manageent and Inforation Systes 7; (: 54-7 http://www.sciencepublishinggroup.co/j/ajois doi:.648/j.ajois.7.8 Optial Dynaic Pricing for Assebly Product Supply Chain Yufang

More information

Optimal resource allocation among transit agencies for fleet management

Optimal resource allocation among transit agencies for fleet management Optial resource allocation aong transit agencies for fleet anageent To V Mathew a, Snehaay Khasnabis b, Sabyasachee Mishra b a Departent of Civil Engineering, Indian Institute of Technology Bobay, Powai,

More information

THE SAVINGS-INVESTMENT PROCESS IN NIGERIA: AN EMPIRICAL STUDY OF THE SUPPLY SIDE

THE SAVINGS-INVESTMENT PROCESS IN NIGERIA: AN EMPIRICAL STUDY OF THE SUPPLY SIDE MARCH 1994 RESEARCH PAPER TWELVE THE SAVINGS-INVESTMENT PROCESS IN NIGERIA: AN EMPIRICAL STUDY OF THE SUPPLY SIDE ADEDOYIN SOYIBO ARCHIV 100278 1OMIC RESEARCH CONSORTIUM POUR LA RECHERCHE ECONOMIQUE EN

More information

Modelling optimal asset allocation when households experience health shocks. Jiapeng Liu, Rui Lu, Ronghua Yi, and Ting Zhang*

Modelling optimal asset allocation when households experience health shocks. Jiapeng Liu, Rui Lu, Ronghua Yi, and Ting Zhang* Modelling optial asset allocation when households experience health shocks Jiapeng Liu, Rui Lu, Ronghua Yi, and Ting Zhang* Abstract Health status is an iportant factor affecting household portfolio decisions.

More information

A Description of Swedish Producer and Import Price Indices PPI, EXPI and IMPI

A Description of Swedish Producer and Import Price Indices PPI, EXPI and IMPI STATSTCS SWEDE Rev. 2010-12-20 1(10) A Description of Swedish roducer and port rice ndices, EX and M The rice indices in roducer and port stages () ai to show the average change in prices in producer and

More information

Compensation Report. Fresenius Medical Care AG & Co. KGaA

Compensation Report. Fresenius Medical Care AG & Co. KGaA Copensation Report Fresenius Medical Care AG & Co. KGaA Copensation Report The copensation report of FMC-AG & Co. KGaA suarizes the ain eleents of the copensation syste for the ebers of the Manageent Board

More information

MADM Methods in Solving Group Decision Support System on Gene Mutations Detection Simulation

MADM Methods in Solving Group Decision Support System on Gene Mutations Detection Simulation MADM Methods in Solving Group Decision Support Syste on Gene Mutations Detection Siulation Eratita *1, Sri Hartati *2, Retantyo Wardoyo *2, Agus Harjoko *2 *1 Departent of Inforation Syste, Coputer Science

More information

QED. Queen s Economics Department Working Paper No. 1088

QED. Queen s Economics Department Working Paper No. 1088 QED Queen s Econoics Departent Working Paper No. 1088 Regulation and Taxation of Casinos under State-Monopoly, Private Monopoly and Casino Association Regies Hasret Benar Eastern Mediterranean University

More information

"Inflation, Wealth And The Real Rate Of Interest"

Inflation, Wealth And The Real Rate Of Interest Econoic Staff Paper Series Econoics 3-1975 "Inflation, Wealth And The Real Rate Of Interest" Walter Enders Iowa State University Follow this and additional works at: http://lib.dr.iastate.edu/econ_las_staffpapers

More information

III. Valuation Framework for CDS options

III. Valuation Framework for CDS options III. Valuation Fraework for CDS options In siulation, the underlying asset price is the ost iportant variable. The suitable dynaics is selected to describe the underlying spreads. The relevant paraeters

More information

Cyclical or Structural?

Cyclical or Structural? Global Trade Slowdown: Cclical or Structural? Cristina Constantinescu (IMF) Aadita Mattoo (B) Michele Ruta (IMF) Third IMF/B/TO Trade orshop 6 Noveber 2014 Main Messages orld trade grew less than 3 percent

More information

Expert Advisor (EA) Evaluation System Using Web-based ELECTRE Method in Foreign Exchange (Forex) Market

Expert Advisor (EA) Evaluation System Using Web-based ELECTRE Method in Foreign Exchange (Forex) Market The 2 nd International Conference on Energy, Environent and Inforation Syste (ICENIS 2017) 15 th 16 th August 2017, Universitas Diponegoro, Searang, Indonesia Expert Advisor (EA) Evaluation Syste Using

More information

ARTICLE IN PRESS. Pricing in debit and credit card schemes. Julian Wright* 1. Introduction

ARTICLE IN PRESS. Pricing in debit and credit card schemes. Julian Wright* 1. Introduction ARTICLE IN PRE Econoics Letters x (200) xxx xxx www.elsevier.co/ locate/ econbase Pricing in debit and credit card schees Julian Wright* Departent of Econoics, University of Auckland, Private ag 92019,

More information

Strategic Second Sourcing by Multinationals. Jay Pil Choi and Carl Davidson Michigan State University March 2002

Strategic Second Sourcing by Multinationals. Jay Pil Choi and Carl Davidson Michigan State University March 2002 trategic econd ourcing by Multinationals Jay Pil Choi and Carl Davidson Michigan tate University March 2002 Abstract: Multinationals often serve foreign arkets by producing doestically and exporting as

More information

Why microfinance institutions in Bolivia have virtually ignored savings

Why microfinance institutions in Bolivia have virtually ignored savings Why icrofinance institutions in Bolivia have virtually ignored savings HILLARY A. MILLER The Private Financial Fund is a category of regulated icrofinance institution (MFI) in Bolivia that is allowed to

More information

Time Value of Money. Financial Mathematics for Actuaries Downloaded from by on 01/12/18. For personal use only.

Time Value of Money. Financial Mathematics for Actuaries Downloaded from  by on 01/12/18. For personal use only. Interest Accuulation and Tie Value of Money Fro tie to tie we are faced with probles of aking financial decisions. These ay involve anything fro borrowing a loan fro a bank to purchase a house or a car;

More information

Combining Neural Network and Firefly Algorithm to Predict Stock Price in Tehran exchange

Combining Neural Network and Firefly Algorithm to Predict Stock Price in Tehran exchange Cobining Neural Network and Firefly Algorith to Predict Stock Price in Tehran exchange Aliabdollahi Departent of Accounting Persian Gulf International Branch Islaic Azad Univercity,khorrashahr, Iran Saharotaedi

More information

Why Do Large Investors Disclose Their Information?

Why Do Large Investors Disclose Their Information? Why Do Large Investors Disclose Their Inforation? Ying Liu Noveber 7, 2017 Abstract Large investors often advertise private inforation at private talks or in the edia. To analyse the incentives for inforation

More information

CREDIT AND TRAINING PROVISION TO THE POOR BY VERTICALLY CONNECTED NGO S AND COMMERCIAL BANKS

CREDIT AND TRAINING PROVISION TO THE POOR BY VERTICALLY CONNECTED NGO S AND COMMERCIAL BANKS CREDIT AND TRAINING PROVISION TO THE POOR BY VERTICALLY CONNECTED NGO S AND COMMERCIAL BANKS Gherardo Gino Giuseppe Girardi Econoics, Finance and International Business London Metropolitan University g.girardi@londoneac.uk

More information

Optimal Design Of English Auctions With Discrete Bid Levels*

Optimal Design Of English Auctions With Discrete Bid Levels* Optial Design Of English Auctions With Discrete Bid Levels* E. David, A. Rogers and N. R. Jennings Electronics and Coputer Science, University of Southapton, Southapton, SO7 BJ, UK. {ed,acr,nrj}@ecs.soton.ac.uk.

More information

Time Varying International Market Integration

Time Varying International Market Integration International Journal of conoics and Finance; Vol. 5, No. 11; 013 ISSN 1916-971X-ISSN 1916-978 Published by Canadian Center of Science and ducation Tie Varying International Market Integration Dhouha Hadidane

More information

Introduction to Risk, Return and the Opportunity Cost of Capital

Introduction to Risk, Return and the Opportunity Cost of Capital Introduction to Risk, Return and the Opportunity Cost of Capital Alexander Krüger, 008-09-30 Definitions and Forulas Investent risk There are three basic questions arising when we start thinking about

More information

Estimating Nonlinear Models With Multiply Imputed Data

Estimating Nonlinear Models With Multiply Imputed Data Estiating onlinear Models With Multiply Iputed Data Catherine Phillips Montalto 1 and Yoonkyung Yuh 2 Repeated-iputation inference (RII) techniques for estiating nonlinear odels with ultiply iputed data

More information

Non-performing Loans Welfare Utility Loss in Beijing Based on Low Carbon Economy

Non-performing Loans Welfare Utility Loss in Beijing Based on Low Carbon Economy Advances in Manageent & Applied Econoics, vol. 5, no.2, 215, 127-135 ISSN: 1792-7544 (print version), 1792-7552(online) Scienpress Ltd, 215 Non-perforing Loans Welfare Utility Loss in Beijing Based on

More information

Puerto Rico, US, Dec 2013: 5-year sentence for pricefixing

Puerto Rico, US, Dec 2013: 5-year sentence for pricefixing Dynaic oligopoly theory Collusion price coordination Illegal in ost countries - Explicit collusion not feasible - Legal exeptions Recent EU cases - Banking approx..7 billion Euros in fines (03) - Cathodic

More information

Foreign Direct Investment, Tax Havens, and Multinationals

Foreign Direct Investment, Tax Havens, and Multinationals Foreign Direct Investent, Tax Havens, and Multinationals Thoas A. Gresik a, Dirk Schindler b, and Guttor Schjelderup b a University of Notre Dae b Norwegian School of Econoics January 14, 214 Preliinary

More information

Construction Methods.. Ch.-2- Factors Affecting the Selection of Construction Equipment

Construction Methods.. Ch.-2- Factors Affecting the Selection of Construction Equipment Construction Methods.. Ch.-2- Factors Affecting the Selection of Construction Equipent Chapter 2 Factors Affecting the Selection of Construction Equipent 2. Factors Affecting the Selection of Construction

More information

Capital mobility in a second best world - moral hazard with costly financial intermediation*

Capital mobility in a second best world - moral hazard with costly financial intermediation* Forthcoing, REVIEW OF INTERNATIONAL ECONOMCS Capital obility in a second best world - oral hazard with costly financial interediation* Joshua Aizenan RRH: CAPITAL MOBILITY IN A SECOND BEST WORLD LRH: Joshua

More information

ASSESSING CREDIT LOSS DISTRIBUTIONS FOR INDIVIDUAL BORROWERS AND CREDIT PORTFOLIOS. BAYESIAN MULTI-PERIOD MODEL VS. BASEL II MODEL.

ASSESSING CREDIT LOSS DISTRIBUTIONS FOR INDIVIDUAL BORROWERS AND CREDIT PORTFOLIOS. BAYESIAN MULTI-PERIOD MODEL VS. BASEL II MODEL. ASSESSING CREIT LOSS ISTRIBUTIONS FOR INIVIUAL BORROWERS AN CREIT PORTFOLIOS. BAYESIAN ULTI-PERIO OEL VS. BASEL II OEL. Leonid V. Philosophov,. Sc., Professor, oscow Coittee of Bankruptcy Affairs. 33 47

More information

OPTIMIZATION APPROACHES IN RISK MANAGEMENT: APPLICATIONS IN FINANCE AND AGRICULTURE

OPTIMIZATION APPROACHES IN RISK MANAGEMENT: APPLICATIONS IN FINANCE AND AGRICULTURE OPTIMIZATION APPROACHES IN RISK MANAGEMENT: APPLICATIONS IN FINANCE AND AGRICULTURE By CHUNG-JUI WANG A DISSERTATION PRESENTED TO THE GRADUATE SCHOOL OF THE UNIVERSITY OF FLORIDA IN PARTIAL FULFILLMENT

More information

ANNUAL IXEPQRT ON PORTFOLIO PEIEEIFOMANCE

ANNUAL IXEPQRT ON PORTFOLIO PEIEEIFOMANCE Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized ANNUAL IXEPQRT ON PORTFOLIO PEIEEIFOMANCE QUALITY ASSURANCE GROUP FISCAL YEAR 26 FEBRUARY

More information

AIM V.I. Small Cap Equity Fund

AIM V.I. Small Cap Equity Fund AIM V.I. Sall Cap Equity Fund PROSPECTUS May 1, 2009 Series I shares Shares of the fund are currently offered only to insurance copany separate accounts funding variable annuity contracts and variable

More information

IMPORTED MACHINERY FOR EXPORT COMPETITIVENESS. Ashoka Mody * Kamil Yilmaz *

IMPORTED MACHINERY FOR EXPORT COMPETITIVENESS. Ashoka Mody * Kamil Yilmaz * IMPORTED MACHINERY FOR EXPORT COMPETITIVENESS Ashoka Mody * Kail Yilaz * The World Bank Koç University Washington, D.C. Istanbul, Turkey January 1998 Revised: March 2001 Abstract We analyze the relationship

More information

Non-Linear Programming Approach for Optimization of Construction Project s Control System

Non-Linear Programming Approach for Optimization of Construction Project s Control System Non-Linear Prograing Approach for Optiization of Construction Project s Control Syste Yusrizal Lubis 1 and Zuhri 1,2 Sekolah Tinggi Teknik Harapan Medan Indonesia, Sekolah Tinggi Ilu Manajeen Suka Medan

More information

Capital Asset Pricing Model: The Criticisms and the Status Quo

Capital Asset Pricing Model: The Criticisms and the Status Quo Journal of Applied Sciences Research, 7(1): 33-41, 2011 ISSN 1819-544X This is a refereed journal and all articles are professionally screened and reviewed 33 ORIGINAL ARTICLES Capital Asset Pricing Model:

More information

Total PS TG. Budgeted production levels can be calculated as follows:

Total PS TG. Budgeted production levels can be calculated as follows: U. ;' cn '.:. \.' >>.:---"--^ '-.'" * i--.'. * ::-;.v>"--:'i.-^ -7 -..=../.-' "-. " '.:.' Ill all it.;? s Solution Total PS TG Sales units 6,000 5,000 1,000 Sales value $605,000 $475,000 $130,000 Workings

More information

Neural Network Model of Pricing Health Care Insurance

Neural Network Model of Pricing Health Care Insurance Neural Network Model of Pricing Health Care Insurance Abstract To pricing health insurance plan statisticians use atheatical odels to analysis custoer s future health condition. General Addictive Model

More information

Corrective Taxation versus Liability

Corrective Taxation versus Liability Aerican Econoic Review: Papers & Proceedings 2011, 101:3, 273 276 http://www.aeaweb.org/articles.php?doi=10.1257/aer.101.3.273 Law and Econoics Corrective Taxation versus Liability By Steven Shavell* Since

More information

Financial Risk: Credit Risk, Lecture 1

Financial Risk: Credit Risk, Lecture 1 Financial Risk: Credit Risk, Lecture 1 Alexander Herbertsson Centre For Finance/Departent of Econoics School of Econoics, Business and Law, University of Gothenburg E-ail: alexander.herbertsson@cff.gu.se

More information

State Trading Enterprises as Non-Tariff Measures: Theory, Evidence and Future Research Directions

State Trading Enterprises as Non-Tariff Measures: Theory, Evidence and Future Research Directions State Trading Enterprises as Non-Tariff Measures: Theory, Evidence and Future Research Directions Steve McCorriston (University of Exeter, UK) (s.ccorriston@ex.ac.uk) Donald MacLaren (university of Melbourne,

More information

Taxing the Aviation Sector

Taxing the Aviation Sector Taxing the Aviation Sector A special notion on the 'natural oil tax' Final report Client: ECORYS Research Prograe ECORYS Nederland BV Leon van Berkel Rotterda, 31 st of August 2008 ECORYS Nederland BV

More information

STOCK PRICE AND EXCHANGE RATE CAUSALITY: THE CASE OF FOUR ASEAN COUNTRIES

STOCK PRICE AND EXCHANGE RATE CAUSALITY: THE CASE OF FOUR ASEAN COUNTRIES Stock Price and Exchange Rate Causality: The Case of Four Asean Countries STOCK PRICE AND EXCHANGE RATE CAUSALITY: THE CASE OF FOUR ASEAN COUNTRIES D. Agus Harjito, Indonesian Islaic University Carl B.

More information

Performance Analysis of Online Anticipatory Algorithms for Large Multistage Stochastic Integer Programs

Performance Analysis of Online Anticipatory Algorithms for Large Multistage Stochastic Integer Programs Perforance Analysis of Online Anticipatory Algoriths for Large Multistage Stochastic Integer Progras Luc Mercier and Pascal Van Hentenryck Brown University {ercier,pvh}@cs.brown.edu Abstract Despite significant

More information

The New Keynesian Phillips Curve for Austria An Extension for the Open Economy

The New Keynesian Phillips Curve for Austria An Extension for the Open Economy The New Keynesian Phillips Curve for Austria An Extension for the Open Econoy Following the epirical breakdown of the traditional Phillips curve relationship, the baseline New Keynesian Phillips Curve

More information

S old. S new. Old p D. Old q. New q

S old. S new. Old p D. Old q. New q Proble Set 1: Solutions ECON 301: Interediate Microeconoics Prof. Marek Weretka Proble 1 (Fro Varian Chapter 1) In this proble, the supply curve shifts to the left as soe of the apartents are converted

More information

Linking CGE and Microsimulation Models: A Comparison of Different Approaches

Linking CGE and Microsimulation Models: A Comparison of Different Approaches INTERNATIONAL JOURNAL OF MICROSIMULATION (2010) 3) 72-91 Linking CGE and Microsiulation Models: A Coparison of Different Approaches Giulia Colobo Departent of Econoic and Social Science - Catholic University

More information

QED. Queen s Economics Department Working Paper No Hasret Benar Department of Economics, Eastern Mediterranean University

QED. Queen s Economics Department Working Paper No Hasret Benar Department of Economics, Eastern Mediterranean University QED Queen s Econoics Departent Working Paper No. 1056 Regulation and Taxation of Casinos under State-Monopoly, Private Monopoly and Casino Association Regies Hasret Benar Departent of Econoics, Eastern

More information

The Structural Transformation Between Manufacturing and Services and the Decline in the U.S. GDP Volatility

The Structural Transformation Between Manufacturing and Services and the Decline in the U.S. GDP Volatility The Structural Transforation Between Manufacturing and Services and the Decline in the U.S. GDP Volatility Alessio Moro y First Version: Septeber 2008 This Version: October 2009 Abstract In this paper

More information

OPTIMAL ONLINE BANKING SECURITY CONFIGURATION UNDER BURDEN OF PROOF

OPTIMAL ONLINE BANKING SECURITY CONFIGURATION UNDER BURDEN OF PROOF Association for Inforation Systes AIS Electronic Library (AISeL) ICIS Proceedings International Conference on Inforation Systes (ICIS) OPTIMAL ONLINE BANKING SECURITY CONFIGURATION UNDER BURDEN OF PROOF

More information

A Multi-Objective Optimization Model for Transit Fleet Resource Allocation

A Multi-Objective Optimization Model for Transit Fleet Resource Allocation Mishra et al. 0 0 0 0 0 A Multi-Objective Optiization Model for Transit Fleet Resource Allocation By Sabyasachee Mishra, Ph.D., P.E. Assistant Professor Departent of Civil Engineering University of Mephis

More information

Uncertain Efficiency Gains and Merger Policy

Uncertain Efficiency Gains and Merger Policy Uncertain Efficiency Gains and Merger Policy Mariana Cunha Paula Sarento Hélder Vasconcelos February 17, 2014 Abstract This paper studies the role of uncertainty in erger control and in erger decisions.

More information

METHODOLOGY AND RESULTS

METHODOLOGY AND RESULTS Methodological Docuent METHODOLOGY AND RESULTS PRODUCER PRICE INDEX IN BOSNIA AND HERZEGOVINA Bosnia and Herzegovina Agenc for Statistics of Bosnia and Herzegovina Federal Office of Statistics of Federation

More information

MAY Hilton Austin Hotel Austin, TX FUND MEMBER/STAKEHOLDER REGISTRATION BROCHURE NATIONAL CONFERENCE ON PUBLIC EMPLOYEE RETIREMENT SYSTEMS

MAY Hilton Austin Hotel Austin, TX FUND MEMBER/STAKEHOLDER REGISTRATION BROCHURE NATIONAL CONFERENCE ON PUBLIC EMPLOYEE RETIREMENT SYSTEMS NATIONAL CONFERENCE ON PUBLIC EMPLOYEE RETIREMENT SYSTEMS A D V O C A C Y R E S E A R C H EDUCATION MAY 18 22 Hilton Austin Hotel Austin, TX FUND MEMBER/STAKEHOLDER REGISTRATION BROCHURE Follow Us on Twitter

More information

m-string Prediction

m-string Prediction Figure 1. An =3 strategy. -string Prediction 000 0 001 1 010 1 011 0 100 0 101 1 110 0 111 1 10 Figure 2: N=101 s=1 9 8 7 6 σ 5 4 3 2 1 0 0 2 4 6 8 10 12 14 16 42 Figure 3: N=101 s=2 15 10 σ 5 0 0 2 4

More information

Free-riding in International Environmental Agreements:

Free-riding in International Environmental Agreements: School of Econoic Sciences Working Paper Series WP 2009-08 Free-riding in International Environental Agreeents: A Signaling Approach to Non- Enforceable Treaties By Ana Espínola Arredondo and Félix Muñoz

More information

Johan Eyckmans, Sam Fankhauser and Snorre Kverndokk Development aid and climate finance

Johan Eyckmans, Sam Fankhauser and Snorre Kverndokk Development aid and climate finance Johan Eyckans, a Fankhauser and norre Kverndokk Developent aid and cliate finance Article (Accepted version) (Refereed) Original citation: Eyckans, Johan, Fankhauser, a and Kverndokk, norre (2015) Developent

More information

First quarter 2017 results

First quarter 2017 results First quarter 2017 results April 28, 2017 Cautionary stateent regarding forward-looking stateents This presentation contains stateents that constitute forward-looking stateents, including but not liited

More information

Who Gains and Who Loses from the 2011 Debit Card Interchange Fee Reform?

Who Gains and Who Loses from the 2011 Debit Card Interchange Fee Reform? No. 12-6 Who Gains and Who Loses fro the 2011 Debit Card Interchange Fee Refor? Abstract: Oz Shy In October 2011, new rules governing debit card interchange fees becae effective in the United States. These

More information

State of Delaware VOYA PLAN and Your Voya Retirement Insurance and Annuity Company Investment Program - Plan-related Information

State of Delaware VOYA PLAN and Your Voya Retirement Insurance and Annuity Company Investment Program - Plan-related Information State of Delaware VOYA PLAN 664093 and 664094 Your Voya Retireent Insurance and Annuity Copany Investent Progra - Plan-related Inforation August 17,2016 The purpose of this docuent is to suarize certain

More information

An alternative route to performance hypothesis testing Received (in revised form): 7th November, 2003

An alternative route to performance hypothesis testing Received (in revised form): 7th November, 2003 An alternative route to perforance hypothesis testing Received (in revised for): 7th Noveber, 3 Bernd Scherer heads Research for Deutsche Asset Manageent in Europe. Before joining Deutsche, he worked at

More information

Portfolio decision analysis with PROBE: Addressing costs of not financing projects

Portfolio decision analysis with PROBE: Addressing costs of not financing projects Portfolio decision analysis with PROBE: Addressing costs of not financing proects JOÃO CARLOS LOURENÇO, CARLOS A. BANA E COSTA, JOÃO OLIVEIRA SOARES Departent of Engineering and Manageent (DEG) and Centre

More information

A STUDY ON THE SHAREHOLDERS BEHAVIOR OF LISTED COMPANIES BASED ON SYMBIOSIS THEORY: A RESEARCH FRAMEWORK

A STUDY ON THE SHAREHOLDERS BEHAVIOR OF LISTED COMPANIES BASED ON SYMBIOSIS THEORY: A RESEARCH FRAMEWORK A STUDY ON THE SHAREHOLDERS BEHAVIOR OF LISTED COMPANIES BASED ON SYMBIOSIS THEORY: A RESEARCH FRAMEWORK YANG Songling Beijing University of Technology, China LIU Tingli Beijing University of Technology,

More information

Migration and intergroup conflict

Migration and intergroup conflict Econoics Letters 69 (000) 37 33 www.elsevier.co/ locate/ econbase Migration and intergroup conflict Kjell Hausken* University of tavanger, chool of Econoics, Culture and ocial ciences, P.O. Box 557, Ullandhaug,

More information

The Casual Relationship Between Information and Communication Technology (ICT) and Foreign Direct Investment (FDI)

The Casual Relationship Between Information and Communication Technology (ICT) and Foreign Direct Investment (FDI) Association for Inforation Systes AIS Electronic Library (AISeL) ECIS 2003 Proceedings European Conference on Inforation Systes (ECIS) 2003 The Casual Relationship Between Inforation and Counication Technology

More information

Third quarter 2017 results

Third quarter 2017 results Third quarter 2017 results October 27, 2017 Cautionary stateent regarding forward-looking stateents This presentation contains stateents that constitute forward-looking stateents, including but not liited

More information

Recursive Inspection Games

Recursive Inspection Games Recursive Inspection Gaes Bernhard von Stengel February 7, 2016 arxiv:1412.0129v2 [cs.gt] 7 Feb 2016 Abstract We consider a sequential inspection gae where an inspector uses a liited nuber of inspections

More information

Hiding Loan Losses: How to Do It? How to Eliminate It?

Hiding Loan Losses: How to Do It? How to Eliminate It? ömföäflsäafaäsflassflassf ffffffffffffffffffffffffffffffffffff Discussion Papers Hiding oan osses: How to Do It? How to Eliinate It? J P. Niiniäki Helsinki School of Econoics and HECER Discussion Paper

More information

Spring Forward or Fall Back? The Post-Crisis Recovery of Firms

Spring Forward or Fall Back? The Post-Crisis Recovery of Firms WP/12/292 Spring Forward or Fall Back? The Post-Crisis Recovery of Firs Leandro Medina 2012 International Monetary Fund WP/12/292 IMF Working Paper Middle East and Central Asia Departent Spring Forward

More information

Unisex Tariffs in Health Insurance

Unisex Tariffs in Health Insurance The Geneva Papers, 2006, 31, (233 244) r 2006 The International Association for the Study of Insurance Econoics 1018-5895/06 $30.00 www.palgrave-journals.co/gpp Unisex Tariffs in Health Insurance Oliver

More information

An agent-based analysis of main cross-border balancing arrangements for Northern Europe

An agent-based analysis of main cross-border balancing arrangements for Northern Europe 1 An agent-based analysis of ain cross-border balancing arrangeents for Northern Europe R. A. C. van der Vee A. Abbasy, and R. A. Hakvoort Abstract The topic of electricity balancing arket integration

More information

Imprecise Probabilities in Non-cooperative Games

Imprecise Probabilities in Non-cooperative Games 7th International Syposiu on Iprecise Probability: Theories and Applications, Innsbruck, Austria, 2011 Iprecise Probabilities in Non-cooperative Gaes Robert Nau Fuqua School of Business Duke University

More information

MAT 3788 Lecture 3, Feb

MAT 3788 Lecture 3, Feb The Tie Value of Money MAT 3788 Lecture 3, Feb 010 The Tie Value of Money and Interest Rates Prof. Boyan Kostadinov, City Tech of CUNY Everyone is failiar with the saying "tie is oney" and in finance there

More information

Nontradables and relative price levels across areas within Japan Hidehiro Ikeno Surugadai University

Nontradables and relative price levels across areas within Japan Hidehiro Ikeno Surugadai University Nontradables and relative price levels across areas within Japan Hidehiro Ieno Surugadai University 1. Introduction This paper exaines epirically the iportance of tradables and nontradables in deterining

More information

Capital reserve planning:

Capital reserve planning: C O - O P E R A T I V E H O U S I N G F E D E R A T I O N O F C A N A D A Capital reserve planning: A guide for federal-progra co-ops Getting our house in order P A R T O F T H E 2 0 2 0 V I S I O N T

More information

AN ANALYSIS OF EQUITY IN INSURANCE. THE MATHEMATICAL APPROACH OF RISK OF RUIN FOR INSURERS

AN ANALYSIS OF EQUITY IN INSURANCE. THE MATHEMATICAL APPROACH OF RISK OF RUIN FOR INSURERS Iulian Mircea AN ANALYSIS OF EQUITY IN INSURANCE. THE MATHEMATICAL APPROACH OF RISK OF RUIN FOR INSURERS A.S.E. Bucure ti, CSIE, Str.Mihail Moxa nr. 5-7, irceaiulian9@yahoo.co, Tel.074.0.0.38 Paul T n

More information

See Market liquidity: Research Findings and Selected Policy Implications in BIS (1999) for the various dimensions of liquidity.

See Market liquidity: Research Findings and Selected Policy Implications in BIS (1999) for the various dimensions of liquidity. Estiating liquidity preia in the Spanish Governent securities arket 1 Francisco Alonso, Roberto Blanco, Ana del Río, Alicia Sanchís, Banco de España Abstract This paper investigates the presence of liquidity

More information

Liquidity Provision. Tai-Wei Hu and Yiting Li. very, very preliminary, please do not circulate. Abstract

Liquidity Provision. Tai-Wei Hu and Yiting Li. very, very preliminary, please do not circulate. Abstract Optial Banking Regulation with Endogenous Liquidity Provision Tai-Wei Hu and Yiting Li very, very preliinary, please do not circulate Abstract In a oney-search odel where deposits are used as eans-of-payents,

More information

Summary of Government Interventions in Financial Markets Belgium

Summary of Government Interventions in Financial Markets Belgium 8 Septeber 2009 Suary of Governent Interventions in Financial Markets Belgiu Overview In addition to the steps undertaken by the ECB, the Belgian, Fleish, Walloon and Brussels governents have provided

More information