This paper considers the problem of a decision maker who is faced with a dynamic decision problem with several alternatives, and additionally can engage in prior consultation on one of the alternatives. Information received from others is coarse. When consulting on an alternative that the...

This paper studies the question of how well we understand segregation. The point of departure is Schelling’s spatial proximity model in one dimension. By introducing noise I show that segregation emerges as the long run prediction of neighborhood evolution, both when residents have...

There has been a wide-spread misconception based on the imprecise wording of Art. 52 of the European Patent Convention (EPC) that the protection of business methods by patents is prohibited in Europe. This paper investigates the legal framework set by patent laws with respect to the...

Der Beitrag diskutiert die Anwendung des im Rahmen der Unternehmensbewertung häufig angewandten Gordon/Shapiro-Modells bei Vorliegen von Inflation sowie persönlichen Steuern. Gezeigt wird, dass sich steuerlich bedingtes und inflationsinduziertes Wachstum parallel im Kalkül erfassen lassen,...