Capital budgeting or investment decisions have an essential influence on companies’ performance. Instead of a rational choice, capital budgeting might be regarded as a process of reality construction. Research suggests that decision makers have only limited control over their own cognitive biases in this construction process. It is in this perspective that this paper intends to answer the following research question: What are behavioral determinants for a successful capital-budgeting decision process? The authors identify and discuss three behavioral success factors (reflective prudence, critical communication and outcome independence) for five stages of the capital budgeting process against the backdrop of the findings of the managerial and organizational cognition theory and cognitive psychology.
This thesis addresses challenges faced by small package shipping companies and investigates the integration of 1) service consistency and driver knowledge aspects and 2) the utilization of electric vehicles into the route planning of small package shippers. We use Operations Research models and solution methods to gain insights into the newly arising problems and thus support managerial decisions concerning these issues.
I report on two experiments, which were designed to test theoretical predictions about individual behavior in a duopolistic setting. With quantity being the choice variable a simultaneous Cournot game and a sequential Stackelberg game were tested over two periods. The key feature of both models was that players were able to lower marginal cost for period two if they successfully outperformed their competition in period one in terms of profit. Experimental results suggest that in the Cournot game players are very competitive in period one but become Cournot players in period two. In the Stackelberg game Cournot play is modal, suggesting that players have preferences for equality in payoffs, which maybe brought about by punishment of Stackelberg followers and fear of punishment of Stackelberg leaders . Overall, players earned more money in the Stackelberg game than in the Cournot game.
Corporate environmental reporting makes good business and environmental sense. A big challenge for companies is to utilize the technical benefit of state of the art IT, especially of Internet-technologies and Internet-services. In this paper an approach of internet-based environmental reports by companies is presented. Three different levels are discussed: The first level deals with the basics of corporate environmental reports (CER) by companies. Illustrating the order within the emerging field of CERs a morphological box is suggested (section 1). Building on this, general requirements for corporate environmental reports are outlined (section 2). On the second level, the general reporting requirements are specified by IT-relevant challenges, seen as starting points for internet-based environmental reports (section 3). The immense technical benefit of using the Internet towards efficient, integrated, interactive, hypermedia-featured, dialog-oriented, and customised environmental reporting is analysed (section 4). On the basis of the technical benefit analysis, the state of the art of internet-based CERs is presented (section 5). The third level refers to the IT-application turning from the basics, IT-challenges and technical benefit to consequences for environmental reporting companies in practice. Thereby a fundamental framework for internet-based CERs is sketched (section 6). Grounded on this framework a basic architecture of an IT-implementation is explained (section 7).
In its scientific sense, industrial ecology represents an emerging transdisciplinary field of studying industrial systems and their fundamental linkage with natural ecosystems. As a short form, industrial ecology is called the "science of sustainability". At the bottom of industrial ecology there is a refreshingly different perspective of understanding nature as model in comparison with other scientific disciplines and concepts of understanding nature e.g. in terms of "sack of resources", "biophysical limit", "something outside", "surrounding", or just "environment" as opposed to industrial systems. The keynote of industrial ecology's specific perspective of understanding nature is to balance the development of industrial systems with the constraints of natural eco-systems, analogous to an "industrial symbiosis". The goal is to contribute for laying a fundamental underpinning for industrial ecology in its scientific sense, in this case especially for its use of nature as model. Therefore an impressive battery of philosophical arguments is provided bringing to bear against the sort of probably raised fallacies and facile or hasty proclaimed critics by sceptics, hard-liners, and mainstream-scientists who often overlook industrial ecology's stimulating role towards sustainability.