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Product Innovation and Population Dynamics in the German Insurance Market

Menhart, Michael; Pyka, Andreas; Ebersberger, Bernd; … - 2003

founding activities. We further discuss the points of contact between the organizational ecology approach and the theory of …

Persistent link: https://www.econbiz.de/10010262999

A Note on Hedging a Loan Portfolio

Welzel, Peter; Broll, Udo - 2003

loans to the case of two types of credit risk. Standard results on the optimal hedge volume and the hedging effectivity from … the single?risk case are shown to carry over to the portfolio case in a non?trivial but intuitive way. … loans to the case of two types of credit risk. Standard results on the optimal hedge volume and the hedging effectivity from …

Persistent link: https://www.econbiz.de/10010263007

Agent-based modelling: A methodology for the analysis of qualitative development processes

Pyka, Andreas; Grebel, Thomas - 2003

The tremendous development of an easy access to computational power within the last 30 years has led to the widespread use of numerical approaches in almost all scientific disciplines. The first generation of simulation models was rather focused on stylized empirical phenomena. With agent-based...

Persistent link: https://www.econbiz.de/10010263008

Managing credit risk with credit and macro derivatives

Welzel, Peter; Schweimayer, Gerhard; Broll, Udo - 2003

The industrial organization approach to the microeconomics of banking augmented by uncertainty and risk aversion is … used to examine credit derivatives and macro derivatives as instruments to hedge credit risk for a large com- mercial bank …Wir ergänzen den industrieökonomischen Ansatz der Banktheorie um Unsicherheit und Risikoaversion, um Kredit- und …

Persistent link: https://www.econbiz.de/10010263009

Zum Innovationsanreiz umweltpolitischer Instrumente: Rehabilitierung der Auflagenpolitik?

Michaelis, Peter - 2004

Die vergleichende Analyse umweltpolitischer Instrumente kommt regelmäßig zu dem Ergebnis, dass Emissionsabgaben einen höheren Innovationsanreiz auslösen als Emissionsauflagen. Demgegenüber weisen neuere Studien der empirischen Innovationsforschung auf keine eindeutige Rangfolge zwischen den...

Persistent link: https://www.econbiz.de/10010263016

Incentives for Innovation in Pollution Control: Emission Standards Revisited

Michaelis, Peter; Dietz, Jürgen - 2004

Conventional analysis of the economics of environmental policy usually claims that emission taxes induce a stronger incentive for an improvement in pollution abatement technologies compared to emission standards. In contrast, recent empirical studies reveal that there is no systematic...

Persistent link: https://www.econbiz.de/10010263020

Schumpeterian dynamics and financial market anomalies

Merey, Esther; Hanusch, Horst; Grebel, Thomas - 2004

In this paper we try to put together both the dynamics of the endogenous evolution of an industry and the corresponding dynamics on the capital market. The first module of our modelling efforts is the endogenous evolution of the industry based on the micro-behaviour of boundedly rational agents....

Persistent link: https://www.econbiz.de/10010263021

Weitzman revisited: emission standards vs. taxes with uncertain control costs and market power of polluting firms

Heuson, Clemens - 2008

economic theory has restricted to either of them when submitting conventional policy instruments to a comparative analysis. The …

Persistent link: https://www.econbiz.de/10010266125

Monitoring and privacy in automobile insurance markets with moral hazard

Filipova, Lilia - 2007

also an additional indirect incentive and a risk-sharing effect with this contract. Letting the individuals choose the …

Persistent link: https://www.econbiz.de/10010266128

On the stability of equilibria in replicator dynamics modelling: an application in industrial dynamics considering resource constraints

Klarl, Torben - 2008

Replicator dynamic modelling (rdm) is used to discuss industrial evolution problems with heterogeneous agents. However, some of the models tend to be very complex and, therefore, analytical solutions cannot be obtained. Hence, the paper proposes to start with a relatively simple model and check...

Persistent link: https://www.econbiz.de/10010267054