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Agency and the pace of adoption of new techniques

We study the relation of financial development and the pace of technological advance in a dynamic agency theoretic model. A firm which is financed by outside shareholders but run by managers has the prospect of a process innovation which arrives stochastically. Adopting the innovation requires firing old management and hiring new with skills appropriate for the new technique. We show...

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English / 01/01/2002

Backward induction and the game-theoretic analysis of chess

The paper scrutinizes various stylized facts related to the minmax theorem for chess. We first point out that, in contrast to the prevalent understanding, chess is actually an infinite game, so that backward induction does not apply in the strict sense. Second, we recall the original
argument for the minmax theorem of chess – which is forward rather than backward looking. Then...

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English / 01/01/2002

Iterated weak dominance in strictly competitive games of perfect information

We prove that any strictly competitive perfect-information two-person game with n outcomes is solvable in n−1 steps of elimination of weakly dominated strategies— regardless of the length of the game tree. The given bound is shown to be tight using a variant of Rosenthal's centipede game.

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English / 01/01/2002

Umfassende Wirkungsprüfung staatlicher Subventionen: ein Konzept am Beispiel des Bildungsbereichs

Um in einer zunehmend vernetzten und globalisierten Welt zu bestehen, müssen Chancen und Risiken beurteilt werden können. Dies gilt nicht nur für den privaten, sondern insbesondere auch für den öffentlichen Sektor. Da herkömmliche Prüfverfahren und die in der klassischen Betriebswirtschaftslehre dafür vorgesehenen Instrumente wie Betriebs- und Erfolgsrechnung nicht ausreichen, müssen...

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Deutsch / 01/01/2002

Accreditation and quality assurance: The Swiss model

Accreditation and quality assurance at universities have gained new meaning in Switzerland - as in other European nations - through the concurrent increase in autonomy, new educational institutions offering international courses and the implementation of the Bologna Declaration. With respect to these developments the Swiss government together with the university cantons agreed to...

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English / 01/01/2002

De-facto standardization through alliances: lessons from Bluetooth

This paper discusses standardization of information and communications technologies. Standardization has become a domain of firm strategizing with information and communication technology standards being increasingly created through semi-open alliances. The paper analyzes the strategic logic of such standardization alliances based on an in-depth case study of the Bluetooth initiative...

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English / 01/01/2002

External corporate venturing: strategic renewal in rapidly changing industries

Examines how external corporate venturing can enhance organizational renewal, and a practical guide to help management apply it within their own organizations. Keil's succinct, readable study shows how major players in the information and communication technology industries have used corporate venture capital, alliances, acquisitions or spin-offs to achieve remarkable strategic...

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English / 01/01/2002

External corporate venturing: strategic renewal in rapidly changing industries

Examines how external corporate venturing can enhance organizational renewal, and a practical guide to help management apply it within their own organizations. Keil's succinct, readable study shows how major players in the information and communication technology industries have used corporate venture capital, alliances, acquisitions or spin-offs to achieve remarkable strategic...

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English / 01/01/2002

Capacity planning and pricing under uncertainty

This paper analyzes a capacity-planning and pricing problem of a monopolist facing uncertain demand. The model incorporates .soft. and .hard. capacity constraints (soft constraints can be relaxed at a cost while hard constraints cannot be relaxed) and demand uncertainty. The firm receives additional demand information within the planning horizon. The solution to the planning problem...

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English / 01/01/2002

Capacity planning and pricing under uncertainty

This paper analyzes a capacity-planning and pricing problem of a monopolist facing uncertain demand. The model incorporates .soft. and .hard. capacity constraints (soft constraints can be relaxed at a cost while hard constraints cannot be relaxed) and demand uncertainty. The firm receives additional demand information within the planning horizon. The solution to the planning problem...

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English / 01/01/2002

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