The authors of this article established the goal to provide a research of the innovative knowledge usage situation in the practice, to analyse origin and concept of innovative knowledge, and to foresee the ways how to develop this phenomenon to…

The concept of interaction between systems of research, teaching and practical businesses in the context of knowledge- based economy and management are presented in the article. The article shows how the general trends of the global knowledge- based economy can…

In contemporary financial market and scientific field of finance the demand for knowledge-based and software-supplied systems allowing investors and financial analysts to make proper and timely decisions is rising. The possible instrument for solving the problem of optimal portfolio formation…

This survey presents within a single model three theories of decentralization of decision-making within organizations based on private information and incentives. Renegotiation, collusion, and limits on communication are three sufficient conditions for decentralization to be optimal., Cet article présente, dans…

We analyze an alternative to the standard rationalizability requirement for observed choices by considering non-deteriorating selections. A selection function is a generalization of a choice function where selected alternatives may depend on a reference (or status quo) alternative in addition…

Between February 4 and 15, 1981, a particularly well recorded earthquake widely felt in Mexico City. These events were rather large by local standard; magnitude estimates for the initial and a couple of later shocks are in the range of…

We identify conditions under which preferences over sets of consumption opportunities can be reduced to preferences over bundles of \"commodities\". We distinguish ordinal bundles, whose coordinates are defined up to monotone transformations, from cardinal bundles, whose coordinates are defined up…

This paper provides new versions of Harsanyi’s social aggregation theorem that are formulated in terms of prospects rather than lotteries. Strengthening an earlier result, fixed-population ex-ante utilitarianism is characterized in a multi-profile setting with fixed probabilities. In addition, we extend…

This paper proposes a definition of relative uncertainty aversion for decision models under complete uncertainty. It is shown that, for a large class of decision rules characterized by a set of plausible axioms, the new criterion yields a complete ranking…

In this article we study the effect of uncertainty on an entrepreneur who must choose the capacity of his business before knowing the demand for his product. The unit profit of operation is known with certainty but there is no…