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| Author | : Wolfgang Ryll |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 177 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642614671 |
Download Litigation and Settlement in a Game with Incomplete Information Book in PDF, ePub and Kindle
We investigate a two-person game of litigation and settlement with incomplete information on one side. So far, various theoretical attempts have been made to answer the question of why some people choose not to resolve their disputes and instead go to court and incur litigation costs, even if bargaining leaves room for both parties to fare better when avoiding the conflict. We can distinguish between games which focus on strategic elements like games with incomplete information (see, for example, P'ng (1983), Samuelson (1982) and Schweizer (1989» and decision-theoretic models neglecting strategic elements (see, for example, Landes (1971) and Gould (1973». The single-person decision theory approach to litigation assumes litigants to have a subjective estimate of the likelihood that the plaintiff will win the action. Differing views on the probability of winning the court case help to explain the fraction of cases that actually go to trial. Among others, P'ng (1983) points out the shortcomings of the single-person decision theory approach which does not take into account, for example, the different fee systems in England and the U.S. and the differences in information conflicting parties may have. P'ng constructs a model of one-sided incomplete information where the settlement terms are given exogenously. Schweizer (1989), on the other hand, extends P'ng's model and allows for two-sided asymmetric information where the settlement terms are determined endogenously.
| Author | : Wolfgang Ryll |
| Publisher | : |
| Total Pages | : 190 |
| Release | : 1996-07-12 |
| Genre | : |
| ISBN | : 9783642614682 |
Download Litigation and Settlement in a Game with Incomplete Information Book in PDF, ePub and Kindle
| Author | : Stephen W. Salant |
| Publisher | : |
| Total Pages | : 34 |
| Release | : 1982 |
| Genre | : Law |
| ISBN | : |
Download Litigation of Questioned Settlement Claims Book in PDF, ePub and Kindle
Before reforms in legal procedures are implemented, their consequences should be thoroughly explored. In this paper, the authors present a methodology for evaluating the consequences of changes in legal procedures. They consider legal settlements of personal injury disputes. Even though there are assumed to exist out-of-court settlements which both plaintiff and defendant would prefer to a court fight if they had complete information, such settlements may fail to occur because the defendant lacks complete information about the extent of the plaintiff's injuries and sometimes challenges demands he suspects to be inflated. The authors treat adversarial behavior in the settlement process as the strategic interaction of players in a game of incomplete information. To illustrate the value of the methodology, the authors conclude by showing how a seemingly innocuous exogenous change in legal procedures has a surprising qualitative effect on the behavior of defendants and consequently on how frequently cases go to trial.
| Author | : Van Hien Nguyen |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 512 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642570143 |
Download Optimization Book in PDF, ePub and Kindle
The 9th Belgian-French-German Conference on Optimization has been held in Namur (Belgium) on September 7-11, 1998. This volume is a collection of papers presented at this Conference. Originally, this Conference was a French-German Conference but this year, in accordance with the organizers' wishes, a third country, Belgium, has joined the founding members of the Conference. Hence the name: Belgian French-German Conference on Optimization. Since the very beginning, the purpose of these Conferences has been to bring together researchers working in the area of Optimization and partic ularly to encourage young researchers to present their work. Most of the participants come from the organizing countries. However the general ten dancy is to invite outside researchers to attend the meeting. So this year, among the 101 participants at this Conference, twenty researchers came from other countries. The general theme of the Conference is everything that concerns the area of Optimization without specification of particular topics. So theoretical as pects of Optimization, in addition to applications and algorithms of Opti mization, will be developed. However, and this point was very important for the organizers, the Conference must retain its convivial character. No more than two parallel sessions are organized. This would allow useful contacts between researchers to be promoted. The editors express their sincere thanks to all those who took part in this Conference. Their invaluable discussions have made this volume possible.
| Author | : Roland Demmel |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 284 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642585957 |
Download Fiscal Policy, Public Debt and the Term Structure of Interest Rates Book in PDF, ePub and Kindle
The introduction of the thesis consists of four parts: first, we motivate our chosen macroeconomic setting by looking at some real world phenomena. For a better understanding of these phenomena, we argue that the mutual dynamic interactions between flScal policy and financial markets need to be closely examined in a macroeconomic framework. Second, we review different strands of the economic literature in order to show that most of the literature has so far exclusively concentrated either on fmancial market dynamics or on flScal policy issues. We conclude that a more integrated model setting is called for in order to explain the dynamic interactions observed in reality. Third, we discuss at length the economic assumptions underlying our model. This avoids multiple repetition later on. Finally, we outline the structure of the thesis and the objectives we pursue in the different chapters. 1. 1 Motivation Fiscal policy and financial market reactions are increasingly receiving world wide attention. The most recent examples are the Maastricht criteria about flScal control, the South-East Asia financial crisis and the resulting IMF policy stance, the high level of public debt in developed and developing countries and the effect on interest rates and economic growth. In contrast to the still underdeveloped theoretical literature on these dynamic links, finding empirical evidence that supports the existence of these links is not a very hard task.
| Author | : Michel Thera |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 281 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642457800 |
Download Ill-posed Variational Problems and Regularization Techniques Book in PDF, ePub and Kindle
This book presents recent developments in the field of ill-posed variational problems and variational inequalities, covering a large range of theoretical, numerical and practical aspects. The main topics are: - Regularization techniques for equilibrium and fixed point problems, variational inequalities and complementary problems, - Links between approximation, penalization and regularization, - Bundle methods, nonsmooth optimization and regularization, - Error Bounds for regularized optimization problems.
| Author | : Sönke Hartmann |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 223 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642586279 |
Download Project Scheduling under Limited Resources Book in PDF, ePub and Kindle
Approaches to project scheduling under resource constraints are discussed in this book. After an overview of different models, it deals with exact and heuristic scheduling algorithms. The focus is on the development of new algorithms. Computational experiments demonstrate the efficiency of the new heuristics. Finally, it is shown how the models and methods discussed here can be applied to projects in research and development as well as market research.
| Author | : Leopold von Thadden |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 203 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642585566 |
Download Money, Inflation, and Capital Formation Book in PDF, ePub and Kindle
This book is a slightly revised version of my doctoral thesis which I wrote during my time as an assistant at the Faculty of Economics of the University of Magdeburg. I am grateful that I had the opportunity to write my the sis in the stimulating atmosphere of this young and lively faculty. lowe a great amount of gratitude to my supervisor Prof. G. Schwodiauer who con stantly encouraged my work and helped to improve it in many discussions. I also would like to thank Prof. K-H. Paque and Prof. P. Flaschel who, as members of my doctoral committee, commented on various details of this study in a very constructive manner. At various stages of my work I received helpful comments from many colleagues of mine, in particular T. Konig and A. Wohrmann. However, it goes without saying that I retain full responsi bility for all remaining errors. Contents Introduction 1 I Money, inflation, and capital formation in the long run: general remarks 5 1 Summary of the literature: theoretical aspects 7 2 Summary of the literature: empirical aspects 19 3 Further reflections on money 29 II Money, inflation, and capital formation: the perspective of overlapping generations models 43 4 The Diamond model with money as single outside asset 45 4. 1 The model. . . . . . . . 46 4. 2 Equilibrium conditions. 51 4. 3 Policy effects 58 4. 4 Discussion. 61 4. 5 Appendix . 63 5 Variation 1: Imperfect credit markets and asymmetric information 65 5. 1 The model. . . . . . . .
| Author | : Markus Frölich |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 212 |
| Release | : 2003-01-21 |
| Genre | : Business & Economics |
| ISBN | : 9783540443285 |
Download Programme Evaluation and Treatment Choice Book in PDF, ePub and Kindle
Policy evaluation and programme choice are important tools for informed decision-making, for the administration of active labour market programmes, training programmes, tuition subsidies, rehabilitation programmes etc. Whereas the evaluation of programmes and policies is mainly concerned with an overall assessment of impact, benefits and costs, programme choice considers an optimal allocation of individuals to the programmes. This book surveys potential evaluation strategies for policies with multiple programmes and discusses evaluation and treatment choice in a coherent framework. Recommendations for choosing appropriate evaluation estimators are derived. Furthermore, a semiparametric estimator of optimal treatment choice is developed to assist in the optimal allocation of participants.
| Author | : Ulrich Schwalbe |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 151 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 3642584772 |
Download The Core of Economies with Asymmetric Information Book in PDF, ePub and Kindle
and should therefore constitute a part of every area of economic 3 theory. The spectrum covered by information economics today ranges from Stigler's search theory4 to industrial economics, including oligopoly theory, innovation, as well as research and develop 5 ment. However, the area information economics is most closely connected with is the theory of optimal contracts, mainly ana 6 lyzed in principal-agent models. Contract theory deals primar ily with the question of how optimal arrangements (contracts) for the purchase and sale of commodities and services between two or more agents should be structured. In these models, it is often assumed that the parties to the contract are informed differently or asymmetrically about relevant variables (e. g. the health of one party in the case of insurance contracts, or the effort in relation to employment contracts). As a result of this asymmetric in formation, phenomena such as moral hazard, adverse selection, signaling, and screening may arise. Frequently, results from con tract theory are referred to when making statements about the effects of asymmetric information on an economy. Models of this kind are often used to explain phenomena such as fixed wages or unemployment, among others. 7 However, such conclusions must be treated with caution for two reasons. In the first place, in these models, a contract (explicit or implicit) is determined by the solution of an optimization prob lem.
