Gegenstand der vorliegenden Arbeit ist ein Versuch, das Verhältnis zwischen wirtschaftsstatistischer Information und dem Ausschnitt der Wirklichkeit, über den sie etwas auszusagen behauptet, neu zu überdenken. Dabei geht es darum, einen Begriff der Problem- und Wirklichkeitsangemessenheit zu...

The paper proposes an analysis of money which starts from electronic money. In open contradiction to the traditional approach, characterized by a general lack of interest by theoreticians towards payment system issues, the paper argues that analysis of the distinctive characteristics of...

This paper studies a unique buyback method allowing firms to reacquire their own shares on a separate trading line where only the firm is allowed to buy shares. This temporary trading platform is opened concurrently with the original trading line on the stock exchange. This share repurchase...

Empirical research has shown that in some situations subjects tend to assign a probability to a conjunction of two events that is larger than the probability they assign to each of these two events. This empirical phenomenon is traditionally called the conjunction fallacy. One of the best known...

Risk is a concept which matters to many issues in economics and finance. The range of risk measures proposed goes from classics like variance to modern approaches like Value-at-Risk (VaR). In this paper, after a short characterization of managers' intuitive notion of risk, an overview on those...