Multiple Fund Investment Situations and Related Games

This paper deals with interactive multiple fund investment situations, in which investors can invest their capital in a number of funds.The investors, however, face some restrictions.In particular, the investment opportunities of an investor depend on the behaviour of the other investors.Moreover, the individual investment returns may differ.We consider this situation from a cooperative game theory point of view.Based on different assumptions modelling the gains of joint investment, we consider corresponding types of games and analyse their properties.We propose an explicit allocation process for the maximal total investment revenues.investment trusts;cooperative games

Multiple Fund Investment Situations and Related Games

This paper deals with interactive multiple fund investment situations, in which investors can invest their capital in a number of funds.The investors, however, face some restrictions.In particular, the investment opportunities of an investor depend on the behaviour of the other investors.Moreover, the individual investment returns may differ.We consider this situation from a cooperative game theory point of view.Based on different assumptions modelling the gains of joint investment, we consider corresponding types of games and analyse their properties.We propose an explicit allocation process for the maximal total investment revenues.

Portfolio Construction in Global Financial Markets

This paper presents a classroom simulation that can be used to introduce the concepts of portfolio management and asset allocation in the presence of global markets. While there are portfolio management games and stock trading games that are designed to cover an entire semester, this simulation provides a single period introduction to portfolio management. The simulation also creates an environment in which students discover how exchange rate volatility can affect investment returns of global funds.

The Industry and Policy Context for Digital Games for Empowerment and Inclusion:Market Analysis, Future Prospects and Key Challenges in Videogames, Serious Games and Gamification

The effective use of digital games for empowerment and social inclusion (DGEI) of people and communities at risk of exclusion will be shaped by, and may influence the development of a range of sectors that supply products, services, technology and research. The principal industries that would appear to be implicated are the 'videogames' industry, and an emerging 'serious games' industry. The videogames industry is an ecosystem of developers, publishers and other service providers drawn from the interactive media, software and broader ICT industry that services the mainstream leisure market in games, The 'serious games' industry is a rather fragmented and growing network of firms, users, research and policy makers from a variety of sectors. This emerging industry is are trying to develop knowledge, products, services and a market for the use of digital games, and products inspired by digital games, for a range of non-leisure applications. This report provides a summary of the state of play of these industries, their trajectories and the challenges they face. It also analyses the contribution they could make to exploiting digital games for empowerment and social inclusion. Finally, it explores existing policy towards activities in these industries and markets, and draws conclusions as to the future policy relevance of engaging with them to support innovation and uptake of effective digital game-based approaches to empowerment and social inclusion.JRC.J.3-Information Societ

Open-end real estate funds in Germany: genesis and crisis

Open-end real estate funds are of particular importance in the German bank- dominated financial system. However, recently the German open-end fund industry came under severe distress which triggered a broad discussion of required regulatory interventions. This paper gives a detailed description of the institutional structure of these funds and of the events that led to the crisis. Furthermore, it applies recent banking theory to openend real estate funds in order to understand why the open-end fund structure was so prevalent in Germany. Based on these theoretical insights we evaluate the various policy recommendations that have been raised. --Open-End Funds,Liquidity Transformation,Liquidity Crisis,Risk Sharing