In most cases authors are permitted to post their version of the article (e.g. in Word or Tex form) to their personal website or institutional repository. Authors requiring further information regarding Elsevier's archiving and manuscript policies are encouraged to visit: Abstract The Sharpe ratio is adequate for evaluating investment funds when the returns… (More)
Whipple's disease is a systemic disorder in which a gram-positive rod-shaped bacterium is constantly present in infected tissues. After numerous unsuccessful attempts to culture this bacterium, it was eventually characterized by 16S rRNA gene analysis to be a member of the actinomycetes. The name Tropheryma whippelii was proposed. Until now, the bacterium… (More)
This paper explores the consequences of imposing a formal provability requirement on rational belief formation in normal-form games. Speci¯cally, we consider the hypothesis that a player assigns positive probability to a strategy pro¯le if and only if it is provable that the component strategies of the pro¯le are possibly chosen by the other players. It is… (More)
In this paper, deformations of L∞-algebras are defined in such a way that the bases of deformations are L∞-algebras, as well. A universal and a semiuniversal deformation is constructed for L∞-algebras, whose cotangent complex admits a splitting. The paper also contains an explicit construction of a minimal L∞-structure on the homology H of a differential… (More)
Brander and Lewis (AER, 1986) show that …rms with limited liability can use debt to commit to aggressive behavior in Cournot markets. In our duopoly experiments, we …nd that subjects choose much less debt than predicted by theory. Although subjects try to exploit the strategic advantage of debt, they do not (want to) acknowledge possible strategic… (More)
Brander and Lewis argue in a seminal paper (AER, 1986) that a Þrm's debt-equity ratio should have important strategic effects on product market competition. We test their model in a duopoly experiment under both, Bertrand and Cournot competition. We Þnd that leverage has strategic effects, but those effects are much weaker than predicted by theory.… (More)
This is an addendum to the paper " Deformation of L∞-Algebras " . We explain in which way the deformation theory of L∞-algebras extends the deformation theory of singularities. We show that the construction of semi-universal deformations of L∞-algebras gives explicit formal semi-universal deformations of isolated singularities.