Bücher der Reihe Lecture Notes in Economics and Mathematical Systems

such models like cash balance models, production smoothing models and pure inventory models. However, there exists one particular situa tion when a separation in a forecasting procedure and a subse quent optimization of the remaining deterministic model is not suboptimal. a model having linear system equations and a quadratic cost crite rion.

This book provides an empirical and theoretical examination of the short- and medium run impacts of technological advances on the employment and wages of workers which differ in their earned educational degree.

In the context of sports leagues scheduling (SLS) several groups' interests must be taken into account. This book treats requirements for sport leagues schedules to be realizable from an operational and a security point of view, attractive for spectators and TV channels, and fair for the competing teams.

The theory on the evolution of preferences deals with the endogenous formation of preference relations in strategic situations. In particular, we demonstrate that preferences which diverge from von Neumann-Morgenstern expected utility may potentially prove to be successful under evolutionary pressures.

One of the main aims of management accounting is to provide managers with accurate information in order to provide a good basis for decision-making. There is evidence that the information provided by management accounting systems (MAS) is distorted and the occurrence of biases in accounting information is widely accepted among users of MAS.

The work is thus addressed to students and practitioners who seek a deeper understanding of managing inventories in discrete time as well as to software developers who require implementation aids on specific problems of inventory management.

Agent-based Computational Economics (ACE) is a new discipline of economics, largely grounded on concepts like evolution, auto-organisation and emergence: it intensively uses computer simulations as well as artificial intelligence, mostly based on multi-agents systems.

The actual work on the present monograph started in 1982 at the Faculty of Philosophy and Social Sciences of the Eindhoven University of Technology, in the context of the program "Equilibrium and Dis equilibrium" of the "voorwaardelijke financiering" (universitary financing system). I wish to thank here my supervisors prof.

In the recent years, the study of cointegrated time seriesand the use of error correction models have become extremelypopular in the econometric literature. This book provides ananalysis of the notion of (weak) exogeneity, which isnecessary to sustain valid inference in sub-systems, intheframework of error correction models (ECMs).

Historical and recent developments at international ?nancial markets show that it is easy to loose money, while it is dif?cult to predict future developments and op- mize decision-making towards maximizing returns and minimizing risk.

The class of interest rate models introduced by O. This book addresses the above mentioned class of interest rate models and concentrates on the calibration, valuation and sensitivity analysis in multifactor models. Finally it focuses on the sensitivity analysis of Cheyette models and derives Model- and Market Greeks.

A major problem arising in airline alliances is to design allocation mechanisms determining how the revenue of a product should be shared among the airlines. The proposed mechanism is used as a benchmark to evaluate the fairness of the revenue sharing mechanisms, where the alliance partners behave selfishly.

This graduate text develops production theory from a set of reasonable axioms. The basic model leads to a set of efficiency measures which can be readily employed in empirical work. A first draft of the text was used to teach students at Vanderbilt University. The text includes a variety of exercise problems.

The large aggregates in the economy - consumption, investment, production of the domestic and the international sectors, international capital flows, financial accumulation and indebtedness - are analysed in this book as problems in time-optimisation for enterprises and households.

A Silverman game is a two-person zero-sum game defined in terms of two sets S I and S II of positive numbers, and two parameters, the threshold T > 1 and the penalty v > 0. Under quite general conditions, these games reduce to finite matrix games.

This special volume contains the Proceedings of a Workshop on "Parallel Algorithms and Transputers for Optimization" which was held at the University of Siegen, on November 9, 1990.

1 The Importance of Irreversibility and Learning - Familiar 11 Bxamples Revisited 1. 3 Conclusions 30 2 The Role of Irreversibility and Learning in Sequential Decision Problems - Basic Concepts 33 2. 2 Economic Examples 37 2. 2 The Two-Period Model with Uncertainty 46 2. 2 An Example: Money Demand as Demand for Flexibility 61 2.

Stochastic Programming offers models and methods fordecision problems wheresome of the data are uncertain. In these models the objective function isgiven as an integral, whose integrand depends on a randomvector, on its probability measure and on a decision.

This work (in two parts), Lecture Notes in Economics and Mathe matical Systems, Volume 105 and 106, constitutes the Proceedings of the Fourteenth Biennual Seminar of the Canadian Mathematical Congress, which was held from August 12 to August 25, 1973 at the University of Western Ontario, London, Ontario.

Matroid theory has its origin in a paper by H. Tutte [30] developed the funda mentals of matroids in detail from a graph-theoretic point of view, and characterised graphic matroids as well as the larger class of those matroids that are representable over any field.

Sponsored by IIASA (International Institute for Applied Systems Analysis) and the Institute for Informatics of the Academy of Sciences of the GDR