Miller and Modigliani (1961) consider valuation of innnite horizon rms that may not engage in purchasing their own shares. While their fundamental valuation approach applies also to rms that purchase their own shares, their stream of dividends approach does not. The latter approach is modiied so that it can be used for valuation of innnite horizon rms including those which may purchase their ow...

he water framework directive of the european union has become a milestone in the water policy for this area. this directive aims to achieve a “good ecological status” of bodies of water in the member states of the european union by 2015. the water framework directive calls for the application of economic principles, economic approaches, tools and instruments. the functions of this economic anal...

We present a model of price discrimination where a monopolist faces a consumer who is privately informed about the distribution of his valuation for an indivisible unit of good but has yet to learn privately the actual valuation. The monopolist sequentially screens the consumer with a menu of contracts: the consumer self-selects once by choosing a contract and then self-selects again when he le...

The theory of valuations was started in 1912 by the Hungar-ian mathematician Josef K urschh ak who formulated the valuation axioms as we are used today. The main motivation was to provide a solid foundation for the theory of p-adic elds as deened by Kurt Hensel. In the following decades we can observe a quick development of valuation theory , triggered mainly by the discovery that much of algeb...

This paper proposes an original exchange property of valuations.This property is shown to be equivalent to a property described by Dress and Terhalle in the context of discrete optimization and matroids and shown there to characterize the valuations for which the demand oracle can be implemented by a greedy algorithm. The same exchange property is also equivalent to a property described indepen...

The financialisation literature has been criticised for its limited empirical base and its failure adequately to link the everyday world with that of high finance. The paper addresses these shortcomings by examining the calculative practice of property valuation. The way that valuations are performed affects their results and, therefore, the operation of the property market. The paper traces th...

Subjective wellbeing maximization is a possible goal of government or public policies, and it often considered the individual life. This paper proposes an estimation using Wellbeing Valuation Approach (WVA) to estimate monetized effect trust in government. Using cross-country panel data set for 97 countries period from 2011 2019, we arrive at three main findings. First, there positive relations...

Abstract: Recently, we proposed a new method for representing and solving decision problems based on the framework of valuation-based systems. The new representation is called a valuation network, and the new solution method is called a fusion algorithm. In this paper, we compare valuation networks to decision trees and influence diagrams. We also compare the fusion algorithm to the backward re...

In the case that X,Y are projective, nonsingular curves and φ is nonconstant, we already know that φ is necessarily surjective, but we will prove (more accurately, sketch a proof of) a much stronger result. From now on, for convenience, when we speak of the local ring of a nonsingular curve as being a discrete valuation ring, we assume that the valuation is normalized so that there is an elemen...