{"title":"A Novel Class of Scheduling Policies for the Stochastic Resource-Constrained Project Scheduling Problem","authors":"B. Ashtiani, R. Leus, M. Aryanezhad","doi":"10.2139/ssrn.1368714","DOIUrl":"https://doi.org/10.2139/ssrn.1368714","url":null,"abstract":"We study the resource-constrained project scheduling problem with stochastic activity durations. We introduce a new class of scheduling policies for this problem, which make a number of a-priori sequencing decisions in a pre-processing phase, while the remaining decisions are made dynamically during project execution. The pre-processing decisions entail the addition of precedence constraints to the scheduling instance, hereby resolving some potential resource conflicts. We compare the performance of this new class with existing scheduling policies for the stochastic resource-constrained project scheduling problem, and we observe that the new class is significantly better when the variability in the activity durations is medium to high.","PeriodicalId":400873,"journal":{"name":"Microeconomics: Information","volume":"207 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116197492","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Hedge Fund Risk Management: An Overview","authors":"Mohsen Mazaheri","doi":"10.2139/ssrn.1266340","DOIUrl":"https://doi.org/10.2139/ssrn.1266340","url":null,"abstract":"The focus of this paper is the role of risk management in the context of a hedge fund. This includes discussion of how the function can add value to the investment process and portfolio management as well as externally by providing portfolio information to investors and counterparties. Also discussed is how to organizationally integrate the function in the investment process. Difficulties facing hedge fund risk managers are discussed.","PeriodicalId":400873,"journal":{"name":"Microeconomics: Information","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115433857","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Informed Trading in Electronic Foreign Exchange Market","authors":"R. Gencay, N. Gradojevic","doi":"10.2139/ssrn.1263341","DOIUrl":"https://doi.org/10.2139/ssrn.1263341","url":null,"abstract":"We examine a recent set of high-frequency spot EUR-USD foreign exchange transaction data from an electronic foreign exchange market. Our framework is based on a continuous time-sequential microstructure trade model that measures the market makers beliefs directly. We present evidence of the strategic arrival of informed traders on a particular day of the week, time of day and geographic location (market).","PeriodicalId":400873,"journal":{"name":"Microeconomics: Information","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123267692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Similarity and Polarization in Groups","authors":"Mariagiovanna Baccara, Leeat Yariv","doi":"10.2139/ssrn.1244442","DOIUrl":"https://doi.org/10.2139/ssrn.1244442","url":null,"abstract":"The focus of this paper is the endogenous formation of peer groups. We study a model in which agents choose their peers prior to making decisions on multiple issues. Agents differ in how much they value the decision outcomes on one issue relative to another. While each individual can collect information on at most one issue, all information is shared within the group. Thus, the group's preference composition affects the type of information that gets collected. We characterize stable groups, groups that are optimal for all their members. When information costs are low, stable groups must be sufficiently homogeneous. Furthermore, stability requires more similarity among extremists than among moderate individuals. When information costs are substantial, a free rider problem arises, and makes extreme peers more desirable, as they are more willing to invest in information acquisition. We show that, as information costs grow, polarization appears and becomes increasingly pronounced in stable groups.","PeriodicalId":400873,"journal":{"name":"Microeconomics: Information","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116381396","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Advanced Nuclear Power: Combining Economic Analysis with Expert Elicitations to Inform Climate Policy","authors":"E. Baker, H. Chon, J. Keisler","doi":"10.2139/ssrn.1407048","DOIUrl":"https://doi.org/10.2139/ssrn.1407048","url":null,"abstract":"The relationship between RD and that investments in improving Light Water Reactors have the greatest expected return.","PeriodicalId":400873,"journal":{"name":"Microeconomics: Information","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132135021","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Economic Properties of Software","authors":"S. V. Engelhardt","doi":"10.2139/ssrn.1430885","DOIUrl":"https://doi.org/10.2139/ssrn.1430885","url":null,"abstract":"Software is a good with very special economic characteristics. Taking a general definition of software as its starting-point, this article  systematically elaborates the central qualities of the commodity which have implications for its production and cost structure, the demand, the contestability of software-markets, and the allocative efficiency. In this context it appears to be reasonable to subsume the various characteristics under the following generic terms: software as a means of data-processing, software as a system of commands or instructions, software as a recombinant system, software as a good which can only be used in discrete units, software as a complex system, and software as an intangible good. Evidently, software is characterized by a considerable number of economically relevant qualities—ranging from network effects to a subadditive cost function to nonrivalry. Particularly to emphasise is the fact that software fundamentally differs from other information goods: First, from a consumer’s perspective the readability and other aspects concerning how the information is presented, is irrelevant. Second, the average consumer/user is interested only in the funtionality of the algorithms but not in the underlying information.","PeriodicalId":400873,"journal":{"name":"Microeconomics: Information","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132491697","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Sequential Cheap Talk from Advisors with Reputation","authors":"J. Cho","doi":"10.2139/ssrn.1488866","DOIUrl":"https://doi.org/10.2139/ssrn.1488866","url":null,"abstract":"I examine two-period sequential cheap talk in situations where the decision maker seeks advice from two advisors, each of whom knows the type of the other advisor. By considering the current payoff (which is determined by the message of each advisor) and the future payoff (which is connected with the reputation of each advisor), I examine conditions which guarantee the existence of both good and bad reputation effects. Compared to situations of simultaneous cheap talk, the decision maker loses information more easily if he seeks advice sequentially.","PeriodicalId":400873,"journal":{"name":"Microeconomics: Information","volume":"4 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120898816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Yong Li, Barclay E. James, Ravi Madhavan, Joseph T. Mahoney
{"title":"Real Options: Taking Stock and Looking Ahead","authors":"Yong Li, Barclay E. James, Ravi Madhavan, Joseph T. Mahoney","doi":"10.1016/S0742-3322(07)24002-1","DOIUrl":"https://doi.org/10.1016/S0742-3322(07)24002-1","url":null,"abstract":"","PeriodicalId":400873,"journal":{"name":"Microeconomics: Information","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126321209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Transformation from the Information Age to the Conceptual Age: Impact on Outsourcing","authors":"A. Patki, Tapasya Patki, M. Kulkarni","doi":"10.2139/ssrn.1350536","DOIUrl":"https://doi.org/10.2139/ssrn.1350536","url":null,"abstract":"The previous decades have seen the emergence of the Information Age, where the key focus was on knowledge acquisition and application. With the emergence of cross-domain disciplines like outsourcing, we are witnessing a trend towards creative knowledge, rational application, and innovation. We are now progressing from an era that was information-dependent towards the era that revolves around concept development. This age, referred to as the Conceptual Age, will be dominated by six new senses--design, story, symphony, empathy, play and meaning--creating a need to diverge from the current reliance on linear and sequential algorithmic practices in outsourcing and to adopt cognition based engineering and management approaches. This article lays the foundation for offshore engineering and management (OEM) and discusses estimation issues in OEM that have their roots in software engineering. Also, this article identifies the limitations of the current methodologies from an outsourcing point of view, and delineates how they can be deployed effectively for an outsourced environment.","PeriodicalId":400873,"journal":{"name":"Microeconomics: Information","volume":"1994 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128638759","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Learning Theory of Referrals","authors":"Damien S. Eldridge","doi":"10.2139/ssrn.1358031","DOIUrl":"https://doi.org/10.2139/ssrn.1358031","url":null,"abstract":"Many service industries, including the medical and legal professions in some countries, display a gated structure. Rather than approaching a final producer directly, a consumer will first seek a referral from an intermediary. Such an industry structure might help to alleviate adverse selection problems between parties that interact infrequently. Intermediaries aggregate many short-run transactions between various consumers and a particular producer. As such, they might be able to learn a producers level of proficiency more rapidly than an individual consumer. However, the presence of a positive information externality means that too few consumers will seek a referral. As such, some form of regulation to encourage consumers to seek a referral might be warranted.","PeriodicalId":400873,"journal":{"name":"Microeconomics: Information","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131769010","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}