Bücher der Reihe Lecture Notes in Economics and Mathematical Systems

In vector optimization one investigates optimization problems in an abstract setting which have a not necessarily real-valued objective function. This meeting was an interdisciplinary forum devoted to new results in the theory, to applications as well as to the solution of vector optimization problems which are relevant in practice.

This book is a treatise on empirical microeconomics: it describes the econometric theory of qualitative choice models and the empirical practice of modeling consumer demand for a heterogeneous commodity, housing. The first part gives a self-contained survey of discrete choice models with emphasis on nested and related multinomial logit models.

To improve flexibility and robustness of fuzzymathematical programming techniques, we also present ourexpert decision-making support system IFLP which considersand solves all possibilities of a specific domain of (fuzzy)linear programming problems.

This book treats the subject of global optimization with minimal restrictions on the behavior on the objective functions. The integration-based approach contrasts with existing approaches which require some degree of convexity or differentiability of the objective function.

(ii) After the first reported applications of simulated annealing (1983- 1985), a tremendous amount of theoretical and applied work have been published within many different disciplines.

In this monograph, we use optimal model specification techniques, including formal unit root tests which allow for trend, and find that all of the exchange rates studied do in fact evolve as random walks or random walks with drift (to a very close approximation).

We use the term stochastic ordering in a broad sense to denote any ordering relation on a space of probability measures.

This monograph is a treatise on adjustment processes. We consider price adjustment processes in exchange economies and strategy adjustment processes in noncooperative games. The advantage of the adjustment processes we will present in this monograph is that they exist and converge under far weaker assumptions than existing processes.

This book describes a series of laboratory experiments (witha total of 167 independent subjects) on forecastingbehavior. In all experiments, the time series to beforecasted was generated by an abstract econometric modelinvolving two or three artificial exogenous variables.

Generalizations of the classical concept of a convexfunction have been proposed in various fields such aseconomics, management science, engineering, statistics andapplied sciences during the second half of this century.

As soon as one sets about the making of a model of macroeconomic time series one has to choose which problems one will try to tackle oneself and which problems one will leave unresolved or to be solved by others.

This book contains a collection of the most significant contributions to some of R.M. The first part contains five papers which describe Goodwin's scientific life. The book presents a combination of both qualitative and quantitative contributions to Goodwin's pioneering works.

In the literature of decision analysis it is traditional to rely on the tools provided by probability theory to deal with problems in which uncertainty plays a substantive role. , n, in which X and Yare real-valued variables and Ai and Bi are fuzzy numbers exemplified by small, large, not very small, close to 5, etc.

interesting challenges The following chapters contain new models and new solution strategies which may be helpful for decision makers and for further research in the areas of production planning and operations research.

This book describes some models from the theory of investment which are mainly characterized by three features. For example, one decision means to undertake the invest *ment project in a planning period, whereas the other decision prescribes to postpone the project for at least one more period.

It is a common sense remark to say that the whole hierarchical decision process is coherent if the interactions between different levels in the hierarchy are taken into account so that a decision taken at some level in the hierarchy translates into a feasible objective for the next decision level in the hierarchy.

Think of the following situation: A project yielding a gross profit of 100 is offered to two firms. Each of both firms has an alternative project it conducts in case the joint project is not realized. The profitability of an allocation of the joint gross profit for a firm depends on the gross profit from its alternative project.

Economic theory of the last fifty years has been dominated by the paradigm of General Equilibrium Theory, based on the scientific work of Walras-Pareto-Cassel-Wald-Hicks-Arrow-De breu-McKenzie. Under these assumptions it is generally said that in a (one pe riod, competitive) general equilibrium model there is no place for money.

This monograph applies game theory models to the environmental problem of the greenhouse effect. It reviews intertemporal optimization models of environmental issues, discusses the issue of sustainability, and analyzes the difference between feedback and open-loop solutions.

There are many methods to solve the nonlinear system such as Newton's method, the homotopy method, and the simplicial method. Traditionally, the zero point and fixed point problem have been solved by iterative methods such as Newton's method and modifications thereof.

The conference was designed to bring together those mathematicians who were seriously interested in getting new challenging stimuli from economic theories with those economists who were seeking for effective mathematical weapons for their researches.

As large physical capital stock projects need long periods to be built, a time-to-build specification is incorporated in factor demand models. Time-to-build and adjustment costs dynamics are identified since by the first moving average dynamics, whereas by the latter autoregressive dynamics are induced.

As a new type of technique, simplicial methods have yielded extremely important contributions toward solutions of a system of nonlinear equations. Theoretical investigations and numerical tests have shown that the performance of simplicial methods depends critically on the triangulations underlying them.

46 4. 3 The effect of bankruptcy costs 4. 4 The effect of agency costs 58 4. 4 Multi-period models 63 4. 3 The effect of limited liability and the risk of default 4. 4 The effect of bankruptcy costs 70 4. 5 Conclusions 79 Appendix to chapter 4 82 83 5 Determinants from the practice of small business finance 83 5.