Seat allocation distributions and seat biases of stationary apportionment methods for proportional representation

In a proportional representation system, apportionment methods are used to round the vote proportion of a party to an integer number of seats in parliament. Assuming uniformly distributed vote proportions, we derive the seat allocation distributions for stationary divisor methods. An important characteristic of apportionment methods are seat biases, that is, expected differences between actual seat numbers and ideal shares of seats, when the parties are ordered from largest to smallest. We obtain seat bias formulas for the stationary divisor methods and for the quota method of greatest remainders.Acknowledgement. We thank Friedrich Pukelsheim for many fruitful discussions.Received March 2004     

Entrepreneurial inception: The role of imprinting in entrepreneurial action

Recent research highlights that founders' early decisions and the environmental conditions at founding each imprint upon a new venture in ways that affect growth and survival. However, we know much less about how the entrepreneur is imprinted and how the outcome of this imprinting process influences the entrepreneur and the venture. Through semi-structured interviews and content analysis, our study examines entrepreneurs' formative experiences during sensitive periods of transition, which we refer to as sources of imprint. We illustrate how these sources of imprint impact entrepreneurial decision making and explain how they guide entrepreneurs' decisions as they progress through their entrepreneurial careers. In doing so, we improve our understanding of how entrepreneurs navigate the entrepreneurial process.     

Arzthaftung auf der Grundlage von Statistiken

The evidence-based medicine describes the effectiveness of medical therapies by statistical success rates. It’s results can serve as standards of healthcare in medical malpractice liability cases. In the following paper it is shown that these success rates depend on the subjective judging what success is. They further depend on the way how the won data are mathematically processed. The main problem however is that the success rates are of statistical nature. It is known from mathematical statistics that a statistic result does not give any information about the behaviour of a single and specific element, in case of medicine about the effect of a therapy on a concrete patient. In consequence competitive therapies cannot be compared on the basis of statistical information in a specific medical malpractice case. A doctor must therefore inform the patient prior to a therapy about this situation.     

Product-based cultural change: Is the village global?

We provide a model of product-based cultural change where trade integration leads to cultural convergence. A standard trade model of Dixit–Stiglitz monopolistic competition is coupled with a micro-founded model of cultural dynamics. We show that access to varieties that are attached to a global cultural type changes the incentives of parents to socialize their children and transmit their type. The resulting increase in agents of the global cultural type leads to a magnification of the initial shock. A striking feature of the model is that even temporary shocks to openness may have permanent effects through the changing distribution of preferences in the economy.     

Market liquidity as dynamic factors

We use recent results on the Generalized Dynamic Factor Model (GDFM) with block structure to provide a data-driven definition of unobservable market liquidity and to assess the complementarity of two observed liquidity measures: daily close relative spreads and daily traded volumes for a sample of 426 S&P500 constituents recorded over the years 2004-2006. The advantage of defining market liquidity as a dynamic factor is that, contrary to other definitions, it tackles time dependence and commonness at the same time, without making any restrictive assumptions. Both relative spread and volume in the dataset under study appear to be driven by the same one-dimensional common shocks, which therefore naturally qualify as the unobservable market liquidity shocks.     

Struktureller Wandel und Krisenbewältigung der deutschen Volkswirtschaft

Die Wirtschafts- und Finanzkrise wirkt wie ein externer Schock auf die deutsche Konjunktur. Mit zwei makro?konomischen Simulationsmodellen weisen die Autoren nach, dass die Krise in Deutschland allein auf diesen Schock zurückzuführen ist. Die Exportabh?ngigkeit der Wirtschaft führt dazu, dass die Produktion zunehmend volatiler wird. Demgegenüber hat sich die Besch?ftigungsentwicklung stabilisiert und von der Konjunktur abgekoppelt — vor allem dank der staatlichen Hilfen.     

Wertorientierte Steuerung von Lebensversicherungsunternehmen mittels stochastischer Prozesse

In this paper we present the concept for value based management of life insurance companies using stochastic process methods. The stochastic processes are used for modelling the random parameters determining the value. Stochastic processes in discrete and continuous time as well as with discrete and continuous state space are considered. As shown in the article this results in distribution functions for the corporate value which lie approximately or even exactly in the class of normal distribution functions.