infonet-economy

In the perspective of a sustainable urban planning, it is necessary to investigate cities in a holistic way and to accept surprises in the response of urban environments to a particular set of strategies. For example, the process of inner-city densification may limit air pollution, carbon emissions, and energy use through reduced transportation; on the other hand, the resulting...

Objectives: To give a brief, introductory overview of current developments and trends in miniaturized medical sensors which will be informative to non-specialists in the field. Methods: Summary of the different types of wearable and implantable sensors with examples of current state-of-the-art devices and systems used in medical applications. Results: After more than a decade of...

This volume contains all accepted papers of the ERCIM Workshop on eMobility, which has been held in Coimbra, Portugal, on May 21, 2007. Papers from three main areas have been selected for the workshop. The workshop papers discuss several topics of the ERCIM eMobility working group, namely – Traffic engineering and mobility management – Wireless (sensor) networks – Pervasive computing...

In spite of the fact that they can draw on a larger, more liquid and more diversiedpool of capital than the equity of reinsurance companies, nancial markets have failedto displace reinsurance as the primary risk-sharing vehicle for natural catastropherisk. We show that this failure can be explained by dierences in information gatheringincentives between nancial markets and...

Shareholder agreements govern the relations among shareholders in privately held firms, such as joint ventures and venture capital-backed companies. We provide an economic explanation for key clauses in such agreements 14namely, put and call options, tag-along and drag-along rights, demand and piggy-back rights, and catch-up clauses. In a dynamic moral hazard setting, we show that...

When information is costly, a seller may wish to prevent prospective buyers from acquiring information, for the cost of information acquisition ultimately is borne by the seller. A seller can achieve the desired prevention through posted-priceselling, by offering prospective buyers a discount. No such prevention is possible in the case of an auction. We establish the result that the...

This paper studies how the investors' attitude towards earnings surprises a®ects the managers' incentives to manipulate earnings in an intertemporal context, where the consensus forecast of the analysts is not exogenously given but determined by the strategic interaction between the analysts and the managers. Our analysis shows that given the asymmetric investors'...

In this paper I demonstrate how one can generalize finitely many examples to statements about (infinite) classes of economic models. If there exist upper bounds on the number of connected components of one-dimensional linear subsets of the set of parameters for which a conjecture is true, one can conclude that it is correct for all parameter values in the class considered, except for...