We use a sequential trade model to clarify two mechanisms following the introduction of an option that may lead to increased efficiency in the underlying. On the one hand, market makers learn from trades in the option market and set more accurate prices. On the other hand, the proportion of...

Partly due to a growing interest in direct marketing, it has become an important application field for data mining. Many techniques have been applied to select the targets in commercial applications, such as statistical regression, regression trees, neural computing, fuzzy clustering and...

Recently, a Competitive Exception Learning Algorithm (CELA) was introduced [1, 2]. This algorithm establishes an optimal mapping from a (continuous) M-dimensional input sample space to an N-dimensional (continuous) output sample space. CELA is aimed to discover regimes (i.e. local behavior in...

Most of modern identities emerge from mediated interactions in public and virtual spaces. There are no acknowledged authorities to watch over organizational identities and grant them legitimacy. These identities are renegotiated in real and virtual communities, often carry a permanent label...

A project has been started with the intention to develop an E-Business Research Network on E-business related research in business and management. The initiative has been taken in co-operation between Erasmus University and UMIST to develop a project in which the first stage concerns the...

The concept of consideration sets makes brand choice a two-step process. House-holds first construct a consideration set which not necessarily includes all available brands and conditional on this set they make a final choice. In this paper we put forward a parametric econometric model for this...

This paper examines the relation between cash-flow availability and investment spending in the Netherlands. In particular, we are interested whether managerial discretion and/or asymmetric information drive the positive relation between cash-flow and investment spending. This relation is...

The purpose of this study is to systematically examine the advantages and disadvantages of different types of family businesses. We distinguish four different types of family businesses based on their family and business orientation: (1) House of Business, (2) Family Money Machine, (3) Family...

We survey the methodological advances in DEA over the last 25 years and discuss the necessary conditions for a sound empirical application. We hope this survey will contribute to the further dissemination of DEA, the knowledge of its relative strengths and weaknesses, and the tools currently...

This article investigates what learning groups there are in organizations, other than the familiar 'communities of practice'. It first develops an interdisciplinary theoretical framework for identifying, categorizing and understanding learning groups. For this, it employs a constructivist,...