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Author: Stefan Spinler Publisher: Springer Science & Business Media ISBN: 3642190065 Category : Business & Economics Languages : en Pages : 151
Book Description
Arguably the central problem in operations research and management science (OR/MS) addressed by e-Business is better coordination of supply and de mand, including price discovery and reduction of transactions costs of buyer seller interactions. In capital-intensive industries like chemicals and steel, the out-of-pocket costs of excess capacity and the opportunity costs of underuti lized capacity have been important factors driving the growth of exchanges for improving demand and supply coordination through e-Business platforms. Stefan Spinler addresses in his dissertation one of the most interesting aspects of this evolution for OR/MS, the parallel development of long-term and short-term markets for capacity and output, accompanied by a range of exotic options and forwards as the basic mechanisms supporting transac tions. This is a fascinating research topic because it builds on the powerful framework of real options, while connecting directly to key operations deci sions (capacity planning, staffing, maintenance, and so forth) of the plants and technologies whose output is the focus of contracts. From the perspec tive of practice, the use of these contracting mechanisms, as facilitated by a new breed of B2B exchanges, represents an opportunity for further improving supply chain performance and capital asset productivity.
Author: Stefan Spinler Publisher: Springer Science & Business Media ISBN: 3642190065 Category : Business & Economics Languages : en Pages : 151
Book Description
Arguably the central problem in operations research and management science (OR/MS) addressed by e-Business is better coordination of supply and de mand, including price discovery and reduction of transactions costs of buyer seller interactions. In capital-intensive industries like chemicals and steel, the out-of-pocket costs of excess capacity and the opportunity costs of underuti lized capacity have been important factors driving the growth of exchanges for improving demand and supply coordination through e-Business platforms. Stefan Spinler addresses in his dissertation one of the most interesting aspects of this evolution for OR/MS, the parallel development of long-term and short-term markets for capacity and output, accompanied by a range of exotic options and forwards as the basic mechanisms supporting transac tions. This is a fascinating research topic because it builds on the powerful framework of real options, while connecting directly to key operations deci sions (capacity planning, staffing, maintenance, and so forth) of the plants and technologies whose output is the focus of contracts. From the perspec tive of practice, the use of these contracting mechanisms, as facilitated by a new breed of B2B exchanges, represents an opportunity for further improving supply chain performance and capital asset productivity.
Author: Michael Frenkel Publisher: Springer Science & Business Media ISBN: 3540269932 Category : Business & Economics Languages : en Pages : 842
Book Description
Dealing with all aspects of risk management that have undergone significant innovation in recent years, this book aims at being a reference work in its field. Different to other books on the topic, it addresses the challenges and opportunities facing the different risk management types in banks, insurance companies, and the corporate sector. Due to the rising volatility in the financial markets as well as political and operational risks affecting the business sector in general, capital adequacy rules are equally important for non-financial companies. For the banking sector, the book emphasizes the modifications implied by the Basel II proposal. The volume has been written for academics as well as practitioners, in particular finance specialists. It is unique in bringing together such a wide array of experts and correspondingly offers a complete coverage of recent developments in risk management.
Author: Michaela Isabel Höhn Publisher: Springer Science & Business Media ISBN: 3642027911 Category : Business & Economics Languages : en Pages : 134
Book Description
Supply relations are often governed by so-called relational contracts. These are informal agreements sustained by the value of future cooperation. Although relational contracts persist in practice, research on these types of contract is only emerging in Operations and Supply Chain Management. This book studies a two-firm supply chain, where repeated transactions via well-established supply contracts and continued quality-improvement efforts are governed by a relational contract. We are able to characterize an optimal relational contract, i.e., to develop policies for supplier and buyer that structure investments in quality and flexibility in a way that no other self-enforcing contract generates higher expected joint surplus. A second goal is to compare the performance of different returns mechanisms in the context of relational contracting (quantity flexibility and buy-back contracts). Industry studies motivate the presented model.
Author: Rolf Hellermann Publisher: Springer Science & Business Media ISBN: 3540344209 Category : Business & Economics Languages : en Pages : 208
Book Description
This book proposes capacity options as a flexible alternative air cargo contract type, and illustrates how capacity can be priced through option contracts. The analysis is accomplished by means of an analytical multivariate optimization model under price and demand uncertainty. A case study using data from a leading German carrier illustrates the financial potential. Finally, the author shows how capacity-option contracts integrate into the context of air cargo revenue management.
Author: Christiane Barz Publisher: Springer Science & Business Media ISBN: 3540730141 Category : Business & Economics Languages : en Pages : 173
Book Description
This book revises the well-known capacity control problem in revenue management from the perspective of a risk-averse decision-maker. Modelling an expected utility maximizing decision maker, the problem is formulated as a risk-sensitive Markov decision process. Special emphasis is put on the existence of structured optimal policies. Numerical examples illustrate the results.
Author: Salvatore Barbaro Publisher: Springer Science & Business Media ISBN: 3540285156 Category : Business & Economics Languages : en Pages : 127
Book Description
It has become part of the conventional wisdom in the economics of education that subsidies to higher education have a regressive distributional effect. Given that relatively more children from wealthier families enroll in higher education, many economist assume that these subsidies to higher education have an unwanted distributional impact. This volume presents new empirical evidence for the cross-sectional point of view and provides an analytical framework for the longitudinal perspective. The present volume also analyzes the equity and efficiency effects of widely-discussed funding reforms and proposes a voluntary graduate tax.
Author: Marco Caliendo Publisher: Springer Science & Business Media ISBN: 3540287086 Category : Business & Economics Languages : en Pages : 266
Book Description
Provides an overview of the microeconometric evaluation methods for evaluation of labour market and other public policies. This book focuses on the propensity score matching method and gives guidance for its implementation. It uses this method to evaluate the employment effects of job creation schemes on the participating individuals in Germany.
Author: H. Arndt von Schemde Publisher: Springer Science & Business Media ISBN: 3540291024 Category : Business & Economics Languages : en Pages : 157
Book Description
The index of an equilibrium in a game gives information about the "stability" of the equilibrium, for example with respect to game dynamics. Unfortunately, index theory is often very technical. This book presents a new geometric construction that visualises the index in an intuitive way. For example, a 3A-n game, for any n, can be represented by a figure in the plane, from which one can read off any equilibrium, and its index as a geometric orientation. With this insight, the index can be characterised in strategic terms alone. Moreover, certain "hyperstable" equilibrium components are seen to have nonzero index. The construction gives an elementary proof that two-player games have a Nash equilibrium, and, in an unusual direction, the powerful fixed point theorem of Brouwer.
Author: Georg Krieg Publisher: Springer Science & Business Media ISBN: 3540271465 Category : Business & Economics Languages : en Pages : 243
Book Description
5th Werner Kern Award for Productivity Research 2005 Kanban control systems bear a great potential to significantly improve operations. A company may reap the full benefits of kanban control only after determining an optimal or near-optimal system configuration. To do that, methods are needed to evaluate the performance and operating costs of individual system configurations. We propose an innovative construction-kit approach that enables us to build stochastic analytical models of a large class of single- and multi-product kanban systems. The presented construction-kit approach may be extended and augmented in various directions.
Author: Marco Lehmann-Waffenschmidt Publisher: Springer Science & Business Media ISBN: 3540686649 Category : Business & Economics Languages : en Pages : 272
Book Description
This work uses various model frameworks to study the evolution of equilibria in an open loop evolving economy in which the model characteristics evolve without any directional restrictions except for continuity. Applying mathematical methods, it is shown that equilibria can always be adapted in a piecewise gradual, non bang-bang way.
Author: Stefan Spinler
Author: Stefan Spinler
Author: Michael Frenkel
Author: Michaela Isabel Höhn
Author: Rolf Hellermann
Author: Christiane Barz
Author: Salvatore Barbaro
Author: Marco Caliendo
Author: H. Arndt von Schemde
Author: Georg Krieg
Author: Marco Lehmann-Waffenschmidt