Industry 4.0 approaches have gained increasing relevance and impact on logistics research practical applications. However, often focuses the investigation of isolated concepts, which leads to a systematic neglect more holistic frameworks. Therefore, this paper conceptualises Smart Logistics as an important element within context approaches. Furthermore, set technological concepts for is identif...

Although initially originated as a totally empirical relationship to explain the volume of trade between two partners, gravity equation has been the focus of several theoretic models that try to explain it. Specialization models are of great importance in providing a solid theoretic ground for gravity equation in bilateral trade. Some research papers try to improve specialization models by addi...

This paper addresses the question whether and under which conditions hearers take into account the perspective of the speaker, and vice versa. Empirical evidence from computational modeling, psycholinguistic experimentation and corpus research suggests that a distinction should be made between speaker meanings and hearer meanings. Literal sentence meanings result from the hearer’s failure to ca...

Analogical problem solving is mostly described as transfer of a source solution to a target problem based on the structural correspondences (mapping) between source and target. Derivational analogy (Carbonell, 1986) proposes an alternative view: A target problem is solved by replaying a remembered problem solving episode. Thus, the experience with the source problem is used to guide the search ...

In this paper we compare market prices of credit default swaps with model prices. We show that a simple reduced form model outperforms directly comparing bonds’ credit spreads to default swap premiums. We find that the model yields unbiased premium estimates for default swaps on investment grade issuers, but only if we use swap or repo rates as proxy for default-free interest rates. This indica...

The Hubris Hypothesis is grounded on a failure to adequately account for the winner’s curse, which leads to overbidding. Surprisingly few papers have attempted to develop a direct empirical test of the presence of overbidding in M&A contests. We develop two such tests in this paper. Our results strongly support the existence of overbidding. JEL classification: G34