German universities as state-sponsored co-operatives

Most universities in Germany are public firms but they have many properties of co-operatives. The most important thereof are described and analysed together with the characteristics of state-sponsorship. The real companions of the university as a co-operation are its professors. The same is true for the faculty level, perhaps even more so. However, especially the students are also organised in a co-operative form as are the representatives of all membership groups together. The state is making some crucial reforms that transform this university model or may even destroy it. In any case, the change is slow, painful and open-ended. --

The market is fairer than Bebchuk's scheme

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The absent-minded prisoner

If one of two rational players is absent-minded for at least three rounds, cooperation in a prisoners dilemma with a finite number of repetitions is possible. If both players are absentminded, even two rounds of absent-mindedness can be enough for cooperation in these rounds and all rounds before. Sufficient conditions for the existence of a cooperative equilibrium are derived, a plausible interpretation of absent-mindedness in the case of many repetitions is given. --absent-mindedness,prisoners dilemma,repeated games

Never change a winning team: An analysis of hazard rates in the NBA

We estimate Cox models to determine proportional hazard rates in professional basketball, concerning leaving the league or changing the team by using a database covering all players of the NBA in the 90s. We predict and confirm that league-hazards depend on a players performance. A teamswitch, however, cannot depend on low performance itself because there has to be a team willing to accept the (new) player. Accordingly we find that a good scoring performance and an intense use of a player reduces the probability of a team-switch, whereas high salaries or non-scoring performance do not. --

The dynamic of bicycle finals: A theoretical and empirical analysis of slipstreaming

The finals of bicycle races have certain peculiarities compared to other sports. The leading group in a bicycle race rides comparatively slowly up to a few meters before the finishing line, until one of the competitors tries to shake off his opponents. Only then do all riders perform to the limit. This raises the question of who takes the thankless early lead and why. The rider who is in front just before the final sprint is seldom the one who wins in the end. By means of the relevant physics it can be shown theoretically that on the one hand the better rider will always be able to win the race and, more surprisingly on the other hand, the better rider will definitely be the rider in the slipstream. These findings are confirmed empirically by means of several logistic regressions. 49 final sprints of road races between two up to seven professional racing cyclists with varying performance potentials were analyzed concerning the order of the riders at the beginning of the final sprint and the final outcome of the race. Subsequently, possibilities for further research and implications for sport economics are described. -- Sprintentscheidungen im Radsport weisen im Vergleich zu anderen Sportarten einige Besonderheiten auf. Die in einem Radrennen führende Gruppe fährt bis wenige Meter vor die Ziellinie vergleichsweise langsam, bevor dann ein Fahrer kurz vor dem Ziel versucht, seine Konkurrenten abzuschütteln. Erst dann erreichen die Fahrer ihre Höchstgeschwindigkeit. Der zu Beginn des Sprints in Führung liegende Rennfahrer gewinnt dabei in den seltensten Fällen am Ende auch das Rennen. Daher stellt sich die Frage, wer zu Beginn des Sprints die undankbarer Führungsposition im Wind übernimmt und warum. Zunächst kann mittels grundlegender Physik theoretisch gezeigt werden, dass zum einen der bessere Fahrer immer in der Lage sein wird, das Rennen zu gewinnen, und zum anderen, weniger naheliegend, der bessere Fahrer stets zu Beginn des Sprints im Windschatten fahren wird. Diese theoretischen Ergebnisse werden anschließend empirisch anhand logistischer Regressionen bestätigt. 49 Sprintentscheidungen in Straßenradrennen zwischen zwei bis sieben professionellen Radrennfahrern mit unterschiedlichen Leistungsstärken werden auf die Reihenfolge der Fahrer zu Beginn des Sprints und das Ergebnis des Rennens hin untersucht. Abschließend werden Möglichkeiten für weitere Untersuchungen sowie sportökonomische Implikationen dargestellt.

Are three points for a win really better than two? Theoretical and empirical evidence for German soccer

The effects of the three-point rule in first league German soccer are tested empirically and compared to games from the German cup-competition. The inclusion of cup games ensures that changes in league games can be attributed to the three-point rule. As a result of their relative devaluation, the number of draws should decrease. Furthermore, an increase in the number of close wins is expected. The strategy of a leading team becomes more defensive, resulting in fewer goal shootings by that team, as well as fewer shooting opportunities for the opponent. Empirical evidence supporting these effects is found. --

WHICH CURRENCY IS BEST FOR BUSINESS IN A SMALL COUNTRY?

The optimal currency for a country is an important topic. While it is difficult to identify the best option overall, for all stakeholders and including political considerations, it is easier to answer the more limited question of the title: Which currency is best for business in a small country? Several kinds of currencies are discussed and three criteria that business companies are interested in are applied. Although there are opposing considerations, the best compromise for business in a small country seems to be a currency board with a fixed exchange rate that can be adapted in case of a crisis. A currency board is also the best protection against speculative attacks. The anchor currency should be that of the largest trading partner, especially if the trade with it is much larger than with all other countries

Rankings von Zeitschriften und Personen in der BWL

Rankings gewinnen in der Wissenschaft an Bedeutung, stehen aber auch in der Kritik. Es kann Unterschiedliches zu verschiedenen Zwecken mit noch anderen Folgen gerankt werden. Im Folgenden werden nur Forschungsrankings betrachtet, die entweder wissenschaftliche Zeitschriften oder die darin veröffentlichten Wissenschaftler in eine Rangfolge bringen. Die Betrachtung erfolgt am Beispiel der deutschen Betriebswirtschaftslehre (BWL), kann jedoch prinzipiell in den meisten Wissenschaften entsprechend angewandt werden. Innerhalb der BWL ist das VHB-JOURQUAL 2 ein aktuelles Beispiel für ein Zeitschriftenranking, das Handelsblatt-Betriebswirte Ranking hingegen ein aktuelles Personenranking. Zu letzterem wird eine Alternative direkt über Zitationen vorgeschlagen. Grundannahme der Analyse ist, dass Anreize auch in der Wissenschaft wirken, sowohl selektierend wie auch motivierend, doch Fehlanreize entsprechend falsch wirken, weshalb eine Analyse von Rankings und ihre Verbesserung lohnt. -- Rankings are gaining importance in academics but are also subject to criticism. A large variety of items or persons can be ranked for different purposes and with various consequences. This article considers only research rankings that sort either academic journals or the researchers publishing therein. The study focuses on German business administration as an example, but could be applied on most other disciplines accordingly. Within business administration the VHB-JOURQUAL 2 is a recent example of a journal ranking and the Handelsblatt-Betriebswirte-Ranking is a ranking of researchers. For the latter I propose an alternative using citations directly. The basic assumption of the analysis is that incentives are effective in academia, both for selection and motivation. Hence misguided incentives function, alas in the wrong direction, such tht analysing and improving rankings is worthwile.

Befragung der Kommission Hochschulmanagement zu VHB-JOURQUAL

Im Juni 2011 wurde die wissenschaftliche Kommission Hochschulmanagement im Verband der Hochschullehrer für Betriebswirtschaft e. V. (VHB) zum Zeitschriftenranking dieses Verbandes, VHB-JOURQUAL, befragt. Die Ergebnisse zeigen, dass eine große Mehrheit der Mitglieder und Interessenten der Kommission zumindest im Detail kritisch zu diesem Ranking eingestellt ist, wobei es von einer beachtlichen Minderheit grundsätzlich abgelehnt wird. Dabei gibt es zwei unterschiedliche Motive für die Kritik. Die einen empfinden deutschsprachige BWL-Zeitschriften als zu schlecht beurteilt, die anderen eher als zu gut und befürworten internationale Rankings. Es werden fünf konkrete Empfehlungen formuliert.The Section of Academic Management of the German Academic Association for Business Research (VHB) has been asked about the journal ranking of this association, VHB-JOURQUAL, in June 2011. The results of this survey show that a large majority of members and interested persons of the section are critical about this ranking or at least some details of it, while a considerable minority rejects it fundamentally. However, there are two different motives for this criticism. One side perceives that German journals of business administration are ranked too low, whereas the other side thinks that these journals are ranked too high and advocates international rankings. Five concrete recommendations are formulated.

Die dunkle Seite der Gerechtigkeit

In diesem Beitrag geht es um subjektive Gerechtigkeitsvorstellungen, nicht Gerechtigkeit an sich, da erstere im Gegensatz zu letzterer empirisch feststellbar und handlungswirksam sind. Allerdings müssen ihre Folgen nicht nur gute sein. Gerechtigkeitsvorstellungen können erstens die ökonomische Effizienz gefährden, so dass es allen oder einigen Beteiligten schlechter geht als nötig. Zweitens ist beim Konflikt verschiedener Gerechtigkeitsvorstellungen damit zu rechnen, dass sie wechselseitig ihre Verwirklichung be- oder sogar verhindern. Drittens kann sogar eine von allen Beteiligten akzeptierte Gerechtigkeitsvorstellung sich selbst im Wege stehen, so dass es den Beteiligten nicht nur materiell schlechter geht, sondern auch das angestrebte Gerechtigkeitsziel weniger erreicht wird als ohne diese Vorstellung. Das spricht nicht insgesamt gegen Gerechtigkeitsvorstellungen, jedoch für ihre sorgfältige Prüfung und maßvolle Anwendung ohne Absolutheitsansprüche.The focus of this paper is on subjective ideas of justice, not justice in itself, because only the former are empirically ascertainable as well as effective in human actions. However, the re-sults of these ideas do not have to be primarily positive. First, ideas of justice might imperil economic efficiency such that all or some affected persons are worse off than necessary. Second, if there is a conflict of ideas, these different ideas of justice may reciprocally prevent the implementation of each other. Third, even an idea of justice shared by all participants might not only result in a material deterioration but the kind of justice aimed for might be obtained to a lesser degree than without this idea. This is not an argument against ideas of justice alto-gether, yet it is an argument for their careful examination and measured use without claims of absoluteness.