Thesis (Ph. D.)--Industrial and Systems Engineering, Georgia Institute of Technology, 2006. / Wedad Elmaghraby, Committee Chair ; Paul Griffin, Committee Member ; Pinar Keskinocak, Committee Member ; D. J. Wu, Committee Member ; Cheryl Gaimon, Committee Member. Includes bibliographical references.

Master-Arbeit Univ. St. Gallen, 2004.

No description available.

This dissertation examines the impact of academic information on the capital markets. A test of market learning from academic information is performed by examining the impact of published research about the size anomaly on the underlying asset pricing process. A theoretical framework to examine the effect of events that affect the equilibrium pricing process is first developed in a simple economy with one single risky asset. A learning model based on Bayesian updating is proposed and its empirical implications are derived. The model predicts a change in the asset prices in the case of market learning. The predictions about the learning path depend on the assumed information structure. The key hypotheses are motivated through an illustrative case in a multi-asset economy where there is more information available concerning large firms than about small firms. The econometric model of switching regimes is used to analyze the hypothesized structural change in the mean returns associated with the size variable. We postulate two regimes, one prior to and another after the incorporation of research information on the size anomaly. We find evidence of a switch in regimes with estimated mean switch located in 1983. The estimated average size premium has declined from approximately 13.6% per annum in the first regime to about -2.8% per annum in the second regime. More importantly, the switch in 1983 is not explained by any of the hypothesized economic factors that explain a large part of the stochastic variation in the size effect in the periods prior to 1983. We also find evidence of a switch in regimes when the seasonal January size effect is excluded. The evidence also suggests an increase in the trading volume associated with the information arrival. Our evidence strongly suggests that the market has undergone a change in its underlying equilibrium pricing process after the discovery of the size anomaly. The evidence supports the hypothesis that academic research relating to the size anomaly has provided useful information to the investors and the market has learnt from this information. / Business, Sauder School of / Graduate

Thesis. 1976. M.S.--Massachusetts Institute of Technology. Dept. of Economics. / Microfiche copy available in Archives and Dewey. / Bibliography: leaves 76-79. / by Thomas V. Daula. / M.S.

<p>The structure and performance of grocery distribution in Sweden has changed profoundly since the second world war. Increasing access and usage of the private car, in combination with an accommodating town planning has enhanced the exploitation of scale economies within distribution firms. There is, however, some ambiguity concerning the overall efficiency of the distribution system when the costs associated with travelling and purchasing performed by households are treated as an integrated part of the total distribution cost function. The purpose of this master thesis is to develop the foundation of a spatial optimisation model, which defines the most efficient distribution system. The underlying idea is that the optimal localisation and size of grocery stores is a function of economies of scale within the firms weighed against distributions costs within the households, such as transportation costs. The optimal system, i.e. the solution of the model, minimises the overall distribution cost. Each store in the model has a hexagonal market area and the optimisation is carried out within the boundaries of four systems of store structures, representing different combinations of store size and location. The transportation cost function includes parameters representing distance, parking, time usage and differences between taxed and non-taxed labour costs. The model can be described as basic and is a first step to a more realistic and comprehensive model, which incorporates all relevant cost components. The aim is to tackle this development in future research projects.</p>

The structure and performance of grocery distribution in Sweden has changed profoundly since the second world war. Increasing access and usage of the private car, in combination with an accommodating town planning has enhanced the exploitation of scale economies within distribution firms. There is, however, some ambiguity concerning the overall efficiency of the distribution system when the costs associated with travelling and purchasing performed by households are treated as an integrated part of the total distribution cost function. The purpose of this master thesis is to develop the foundation of a spatial optimisation model, which defines the most efficient distribution system. The underlying idea is that the optimal localisation and size of grocery stores is a function of economies of scale within the firms weighed against distributions costs within the households, such as transportation costs. The optimal system, i.e. the solution of the model, minimises the overall distribution cost. Each store in the model has a hexagonal market area and the optimisation is carried out within the boundaries of four systems of store structures, representing different combinations of store size and location. The transportation cost function includes parameters representing distance, parking, time usage and differences between taxed and non-taxed labour costs. The model can be described as basic and is a first step to a more realistic and comprehensive model, which incorporates all relevant cost components. The aim is to tackle this development in future research projects.

This thesis describes and analyzes the location and size distribution of artand entertainment establishments and metropolitan regions in the UnitedStates. The included sectors are sound recording, motion picture and video,book and newspaper publishing as well as the live performing arts. Their sizeis analyzed by total employment and brought in context to their respectivemarkets and the rank-size rule. The results are interpreted within the economictraits specific to the art and entertainment industry.The results show that most analyzed sectors are over proportionally concentratedin one location, making it the center for these activities. In addition, thesize distribution in all sectors except sound recording follows Zipfs law to agreat extend. Explanations for this can be found in lock-in mechanisms overtime and classic agglomeration advantages.

This paper provides a cost-efficient business mix and principles of regulation for the Kaohsiung Harbor Bureau. The authors use a multi-product model that represents port operations with three variables: mooring, stevedoring, and warehousing. A Fourier cost function is used to calculate several cost indicators. The sample covers monthly data in 1997-2001. By analyzing the cost indicators obtained, it is found that both individual operations and all of the operations together as a whole exhibit significant economies of scale and scope. Moreover, the presence of excess capacity in stevedoring and warehousing have been detected, as well as a presence of cost complement between mooring and stevedoring. Port operations cannot improve economic efficiency with perfect competition. On the contrary, the government should design economically reasonable regulations. Because port operations can not improve economic efficiency by market mechanism, port operations should be regulated by a proper authority in order to effectuate maximum social welfare.

Large 3C distributers showed in Taiwan in 1992s. Since more and more large 3C distributers set stores across Taiwan, their economies of scale lead the whole 3C-channel market become ¡§the big is always the big and the small.¡¨ Many companies that do not have competencies have gone out the market. However, in this market, many outstanding small-middle 3C distributors are not affected, and have good performance. This fact reflects that these small-middle 3C distributors have some core competencies that can not be replaced by large 3C distributers. The business models and strategies of these small-middle 3C distributers are the main issues of this study. Considering the consistency and extensiveness of subjects in the 3C industry, this study selected three large 3C distributers as research subjects. Firstly, second-hand data was collected, and interviews with managers of the three distributers were also conducted. Then, five outstanding small and middle distributers were interviewed to compare their business modes and strategies with the three large 3C distributers. Based on these data, it is helpful to understand core competencies and advantages of small and middle distributers. The results show that although large 3C distributers have their main advantages, they do not do well in the development of niche markets, efficient responsiveness of environment changes, and kindly attitude to consumers. If small and middle enterprises can clearly understand their weakness, avid to directly fight with large 3C distributers, expand their potential advantages, and keep close with customers, they also could have living space and will be difficult be replaced.