I. Allgemeine wirstchaftslehre

Ohne Zusammenfassung     

Optimal price and advertising policy for new products

Extending a model originally proposed by Bass, a “diffusion model” is developed that allows us to investigate the effects of certain price and advertising strategies during and after the introduction of new products by means of numerical computer simulation. The distinction between “innovators” and “imitators” forms the core of the model. A wide variety of implications for marketing strategies is derived.     

Problem einer synthetischen Betrachtung der Produktionsfunktion

Ohne ZusammenfassungMit 5 TextabbildungenVortrag, 5. Februar 1964, Technische Hochschule Hannover.     

Testing the value of directional forecasts in the presence of serial correlation

Common approaches to testing the economic value of directional forecasts are based on the classical χ²${\chi }^2$-test for independence, Fisher’s exact test or the Pesaran and Timmermann test for market timing. These tests are asymptotically valid for serially independent observations, but in the presence of serial correlation they are markedly oversized, as has been confirmed in a simulation study. We therefore summarize robust test procedures for serial correlation and propose a bootstrap approach, the relative merits of which we illustrate by means of a Monte Carlo study. Our evaluations of directional predictions of stock returns and changes in Euribor rates demonstrate the importance of accounting for serial correlation in economic time series when making such predictions.     

Dynamic,Interactive Survey Questions Can Increase Survey Data Quality

Survey research is critical to the development of knowledge and market insight in hospitality and tourism. Survey research quality depends on the willingness of respondents to participate, and this is decreasing. The recent development of dynamic, interactive online survey question formats may contribute to solving this problem by making surveys more engaging for respondents. To the best of the authors' knowledge, this is the first study which compares traditional and dynamic interactive answer formats using objective and subjective assessment criteria. Results indicate that using a simple dynamic, interactive question in a study on tourism and quality of life improved the objective quality of the data and made the survey experience easier and more fun for respondents, thus leading to higher quality data for users of market research on this topic. Given the wide variety of dynamic question formats, users of market research data need to, however, assess on a case-by-case basis if survey questions are merely more entertaining or whether they indeed increase the validity of data.     

Inclusive Growth — Institutions Matter!

Intereconomics - The aim of the concept of inclusive growth is to derive political recommendations on the basis of selected indicators so that a maximum number of socio-economic groups may benefit...     

Unraveling the Perceived Reasons Underlying Entrepreneurs' Retirement Decisions: A Person‐Centered Perspective

This study investigated the reasons and psychosociological mechanisms underlying French entrepreneurs' decisions to terminate their career, based on the Push Pull Anti push Anti Pull model (Chevalier et al. 2013 ). The purpose of this article is (a) to examine naturally occurring profiles of entrepreneurs' motivation to retire using cluster analysis, and (b) to investigate associations of the profiles with social characteristics and the intention to retire. The results revealed four distinctive profiles: (1) “eager to retire,” (2) “ready to retire,” (3) “ambivalent,” and (4) “reluctant.” Subjective health, level of education, and income were differentially related to the four profiles. Entrepreneurs with profiles 1 and 2 had the highest level of intention to retire. Implications of the findings for professional counselors and directions for future research are discussed.     

EU-Regulierung von Bitcoin und anderen virtuellen Währungen: erste Schritte

Bitcoin and other virtual currencies are becoming increasingly important. They are not money but are being used by a growing group of people as a means of payment and investment. Central banks and regulatory authorities have identified risks and see a need for regulation. Regulation areas with a high priority in the EU concern consumer protection, Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT). The EU institutions are currently revamping the AML Directive in order to include virtual currencies for the first time. An international coordination on the regulation of virtual currencies is on the agenda of Finance Ministers and Central Bank Governors of G20 countries.