The marketing literature so far only considers attraction models with strict functional forms. Greater exibility can be achieved by the neural net based approach introduced which assesses brands' attraction values by means of a perceptron with one hidden layer.(...)

We consider an option c which is contingent on an underlying (tilde S) that is not a traded asset. This situation typically arises in the context of real options. We investigate the situation when there is a "surrogate" traded asset S whose price process is highly correlated with that of (tilde...

The paper studies the problem of maximizing the expected utility of terminal wealth in the framework of a general incomplete semimartingale model of a financial market. We show that the necessary and sufficient condition on a utility function for the validity of several key assertions of the...

In the present paper a modeling framework for generation of market data is suggested. First models of consumers perceptual/preferential positions are discussed. Second a model linking brand perceptions to consumers is suggested where the degree of perceptual competition between brands is...

This paper deals with real options literature by discussing an investment problem, where a firm has to determine optimal investment timing and optimal capacity choice at the same time under conditions of irreversible investment expenditures and uncertainty in future demand.

Aufbauend auf einem klassischen Finanzmarktmodell behandeln wir drei Modellvarianten, die jeweils einen anderen Ansatz der (heterogenen) Erwartungsbildung von Investoren über künftige Wertpapierpreise in den Vordergrund der Betrachtungen rücken: das Konzept der konsistenten Erwartungen, das...

n this paper we present an unsupervised algorithm which performs clustering given a data set and which can also find the number of clusters existing in it. This algorithm consists of two techniques...

This paper we deals with a fuzzy voting scheme for cluster algorithms.

The ant system is a new meta-heuristic for hard combinatorial optimization problems. It is a population-based approach that uses exploitation of positive feedback as well as greedy search. It was first proposed for tackling the well known Traveling Salesman Problem (TSP), but has been also...

The Ant System is a new meta-heuristic method particularly appropriate to solve hard combinatorial optimization problems. It is a population-based, nature-inspired approach exploiting positive feedback as well as local information and has been applied successfully to a variety of combinatorial...