https://hdl.handle.net/10419/41605 2026-10-09T07:00:10Z 2026-10-09T07:00:10Z Otto, Alkis Henri Steinhardt, Max Friedrich https://hdl.handle.net/10419/59009 2023-11-22T02:08:53Z 2012-01-01T00:00:00Z

Title: Immigration and election outcomes: Evidence from city districts in Hamburg Authors: Otto, Alkis Henri; Steinhardt, Max Friedrich Abstract: This paper provides new evidence on the effect of immigration on election outcomes. Our analysis makes use of data on city districts in Hamburg, Germany, during a period of substantial inflows of immigrants and asylum seekers. We find significant and robust effects for changes in foreigner shares on the electoral success of parties that built up a distinctive reputation in immigration politics. In particular, our fixed-effects estimates indicate a positive effect for xenophobic, extreme right-wing parties and an adverse effect for the Green party that actively campaigned for liberal immigration policies and minority rights. Overall, our results support the hypothesis that changes in local compositional amenities shape individual attitudes towards immigration.

2012-01-01T00:00:00Z Hartmann, Sönke https://hdl.handle.net/10419/45543 2023-12-10T02:37:41Z 2011-01-01T00:00:00Z

Title: Project scheduling with resource capacities and requests varying with time Authors: Hartmann, Sönke Abstract: This paper discusses an extension of the classical resource-constrained project scheduling problem (RCPSP) in which the resource availability as well as the resource request of the activities may change from period to period. While the applicability of this extension should be obvious, we provide a case study in order to emphasize the need for the extension. A realworld medical research project is presented which has a structure that is typical for many other medical and pharmacological research projects that consist of experiments. Subsequently, we provide a mathematical model and analyze some properties of the extended problem setting. We also discuss how priority rule based heuristics for the RCPSP can be applied to the extended problem. In addition to the priority rules themeselves, we outline a framework for randomized priority rule methods. In order to provide a basis for experiments, we propose an adaptation of standard RCPSP test instances to the extended version of the problem. Finally we report the computational results of the priority rule methods.

2011-01-01T00:00:00Z Grelck, Michael B. Prigge, Stefan Tegtmeier, Lars Topalov, Mihail https://hdl.handle.net/10419/41609 2023-11-15T02:06:26Z 2010-01-01T00:00:00Z

Title: Die Konstruktion einer marktbasierten Benchmark für Beteiligungstitel in Schiffsinvestitionen Authors: Grelck, Michael B.; Prigge, Stefan; Tegtmeier, Lars; Topalov, Mihail Abstract: Schiffsinvestitionen haben in Deutschland eine lange Tradition und stellen für private Anleger — meist über geschlossene Fonds — und zunehmend auch für institutionelle Anleger eine bedeutende Form der Kapitalanlage dar. Trotz ihrer schon lange anhaltenden Beliebtheit und des hohen Anlagevolumens gibt es keine belastbaren Daten über die Ertrags- und Risikoeigenschaften von Beteiligungstiteln in Schiffsinvestitionen. In diesem Aufsatz wird ein Indexkonzept als Benchmark für solche Beteiligungstitel entwickelt. Es ermöglicht das Berechnen langer (Start 1997), repräsentativer, marktbasierter Index- und damit auch Renditezeitreihen für Schiffsinvestitionen. Die Frequenz ist mit monatlichen Daten ausreichend hoch für statistische Auswertungen. Das Indexkonzept verbessert die Transparenz des gesamten Schifffahrtssegments ganz erheblich. Über das Segment hinaus erlauben die Indizes die Einbindung von Schiffsinvestitionen in quantitative Gesamtportfolioüberlegungen. Die ersten Berechnungen haben eher exemplarischen Charakter. Sie geben Anhaltspunkte hinsichtlich der Ertrags-Risiko-Kombinationen und der Diversifikationseigenschaften von Schiffsinvestitionen sowie der Verteilungseigenschaften der Indexzeitreihen.

2010-01-01T00:00:00Z Grelck, Michael B. Prigge, Stefan Tegtmeier, Lars Topalov, Mihail Torpan, Igor https://hdl.handle.net/10419/41614 2023-12-06T02:32:39Z 2010-01-01T00:00:00Z

Title: Investing in times of inflation fears: Diversification properties of investments in liquid real assets Authors: Grelck, Michael B.; Prigge, Stefan; Tegtmeier, Lars; Topalov, Mihail; Torpan, Igor Abstract: The financial crisis and the rescue measures taken by governments and central banks increased investors' interest in liquidity and in real assets supposed to offer a hedge against inflation. Against this background, we investigate empirically four real assets (real estate, commodities, infrastructure, and shipping) for which there are investment instruments available which trade in liquid markets. Our empirical study using data from 1999 to 2009 yields several results: First, in most cases, the addition of real assets improved portfolio performance (measured with Sharpe ratio, Sortino ratio, Omega ratio, and Modified Sharpe ratio) in comparison with a base portfolio consisting only of standard stocks and bonds. Among the four real assets, infrastructure and shipping clearly outperformed commodities and real estate. Second, the time frame chosen for the analysis matters very much. This is bad news for investors because there is no such thing as the single 'true' time frame for this purpose. Due to our analytical approach, we regard our conclusions, in spite of their general time dependence, as rather solid. Third, despite great conceptual differences, our four performance measures lead to the same conclusions. This result is interesting for investors beyond our specific setting because the selection of a specific performance measure from the vast supply of such measures does not seem to matter much.

2010-01-01T00:00:00Z