On the value of function evaluation location information in Monte Carlo simulation

Article Abstract:

Monte Carlo sampling methods are often used to make numerical assessments of high-dimensional multiple integrals. It is well known that the point estimators used in these strategies assign equal weights to all the computed function evaluations as they are indifferent to dimensional effects. A study is conducted that indicates the possibility of improving the effectiveness of the estimators of Monte Carlo sampling schemes by taking location information into account. The results show that a significant improvement in the performance of one-dimensional sampling procedures is possible with the use of function evaluation location information. Better performance is achieved by adjusting the weights of the function evaluations such that they are no longer given the same weights.

Analysis, Simulation methods, Simulation, Monte Carlo method, Monte Carlo methods, Numerical integration

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Technical dialog as an incentive for vertical integration in the semiconductor industry

Article Abstract:

A general transaction costs framework is used to examine the emergence of a class of 'fabless' firms in the US semiconductor industry. 'Fablessness' refers to the increasingly popular practice of organizations of designing and selling their products themselves, but outsourcing fabrication and other manufacturing operations. The investigation of this unusual structural change has two objectives: to extend Ronald Coase's (1937) transaction costs paradigm to a new industry and to introduce the construct 'unstructured technical dialog.' Based on an analysis of this construct and of extant transaction costs literature, an attempt is made to explain why integration of the fabrication and design stages may become the organizational structure of choice.

Research, Semiconductor industry, Production management, Vertical integration, Costs, Industrial, Industrial costs

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