infonet-economy

We study properties of structured financial products optimizing a utility functional of a customer. The conventional method may have the disadvantage that the a priori restriction to a certain number of assets could make it impossible to find the optimal portfolio. So instead of optimizing the distribution of given assets, we impose only the price constraint as given by the CAPM and...

Identifying investment strategies that will survive in the long run is a main endeavor in the eld of evolutionary nance. The evolutionary perspective on the nancial market considers rather long time horizons, making the creation and disappearance of rms a highly relevant factor in determining such strategies. However, this factor has not been examined in existing research. This paper...

In the past decade, based on a change in paradigms in university policy, performance funding on a cantonal and central state level has been introduced in Switzerland: the universities have been granted higher autonomy, combined with global budgets and contract management by the responsible authorities (cantonal authorities). At the same time, the allocation of the central state...

We present and estimate a model of competition in a two-sided market: the market for magazine readership and advertising. Using data on magazines in Germany, we find evidence that magazines have properties of two-sided markets. The results are consistent with the perception that prices for readers are ‘subsidized’ and that magazines make all their money from advertisers. Consistent...