Modelling and Decisions in Economics

by Leopold-Wildburger, Ulrike; Feichtinger, Gustav; Kistner, Klaus-Peter; Ferschi, Franz; Ferschl, Franz

• ISBN13: 9783790812190
• ISBN10: 3790812196
• Format: Hardcover
• Copyright: 1999-06-01
• Publisher: Physica Verlag

Summary

This book provides insights that are useful for people with interests in Operations Research, statistics and econometrics. Each contribution offers a snapshot out from interesting topics. The relationships and interconnectivities between decisions and models from different economic fields lead to a better understanding of the modern field of Operations Research. The book focuses on modelling as an activity rather than on techniques and programming. Divided into three parts, part one provides decision theoretical models, part two provides several theoretical and empirical papers concerning statistics and econometrics. Finally, part three provides an up-to-date account of Operations Research.

Table of Contents

Part 1: Decision Theory	1	(96)
Some Ideas on Economics and Ethics	3	(26)
Wilhelm Krelle
Ethics and Operations Research	29	(10)
Christoph Schneeweiss
How to Measure Risk?	39	(22)
Georg Ch. Pflug
On the Question of Speculation in Favour of or against the Euro before its Start	61	(22)
Lutz Beinsen
Resolving the Ellsberg Paradox by Assuming that People Evaluate Repetitive Sampling	83	(14)
Hans Schneeweiss
Part 2: Statistics and Econometrics	97	(74)
Maximum Likelihood Estimation for the VAR-VARCH Model: A New Approach	99	(16)
Shuangzhe Liu
Wolfgang Polasek
A Note on the Herfindahl Index of Concentration	115	(4)
Gerhart Bruckmann
A Generalization and Optimization of a Measure of Diversity	119	(20)
Helmut Beran
A Subjective Bayes Approach to the Queueing System M/Ek/C	139	(18)
Harald Schmidbauer
Angi Rosch
Cooperation as the Stimulating Power for the Austrian Automobile Industry - Results of an Empirical Study	157	(14)
Carol Kratzer
Ulrike Leopold-Wildburger
Part 3: Operations Research	171	(124)
Lot Sizing and Queueing Models Some Remarks on KARMARKAR'S Model	173	(16)
Klaus-Peter Kistner
Analysis of MRP Policies with Recovery Options	189	(40)
Karl Inderfurth
Thomas Jensen
Bidding for Research Funds	229	(10)
Martin J. Beckmann
Separate versus Joint Inventories when Customer Demands are Stochastic	239	(16)
Gunter Fandel
Michael Lorth
Optimal Macroeconomic Policies with and without the Monetary Instrument	255	(14)
Reinhard Neck
Dynamic Economic Models of Optimal Law Enforcement	269	(26)
Gustav Feichtinger
List of Contributors	295