Dynamic Firm and Investor Behaviour under Progressive Personal Taxation
Dynamic Firm and Investor Behaviour under Progressive Personal Taxation

Author: Geert-Jan C.T.van Schijndel

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 224

ISBN-13: 3642466370

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This book aims to include the effects of a progressive personal tax into the deterministic dynamic theory of the firm. To this end the author investigates the impact of a progressive personal tax on the optimal dividend, financing and investment policy of a shareholder-controlled, value-maximising firm. More specifically, the principal aim is the justification of the thesis that during each stage of their evolution, firms will be controlled by investors in different tax brackets. With this aim in mind, the author develops a dynamic equilibrium and portfolio theory under certainty, which considers: - the market value of an arbitrary firm such that no excess demand for or supply of shares exists, - the portfolio selection of differently taxed investors, - the succession of differently taxed investors, who possess the shares of any value-maximizing firm, in the course of time, - the optimal resulting policy string and corresponding evolution of a firm in the course of time.

Stochastic Project Networks
Stochastic Project Networks

Author: Klaus Neumann

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 250

ISBN-13: 3642615155

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Project planning, scheduling, and control are regularly used in business and the service sector of an economy to accomplish outcomes with limited resources under critical time constraints. To aid in solving these problems, network-based planning methods have been developed that now exist in a wide variety of forms, cf. Elmaghraby (1977) and Moder et al. (1983). The so-called "classical" project networks, which are used in the network techniques CPM and PERT and which represent acyclic weighted directed graphs, are able to describe only projects whose evolution in time is uniquely specified in advance. Here every event of the project is realized exactly once during a single project execution and it is not possible to return to activities previously carried out (that is, no feedback is permitted). Many practical projects, however, do not meet those conditions. Consider, for example, a production process where some parts produced by a machine may be poorly manufactured. If an inspection shows that a part does not conform to certain specifications, it must be repaired or replaced by a new item. This means that we have to return to a preceding stage of the production process. In other words, there is feedback. Note that the result of the inspection is that a certain percentage of the parts tested do not conform. That is, there is a positive probability (strictly less than 1) that any part is defective.

Binary Functions and their Applications
Binary Functions and their Applications

Author: Horand Störmer

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 160

ISBN-13: 3642615198

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In this book binary functions and their representation by implicants or implicates are described. In particular minimal representations by prime implicants or prime implicates are given. Such representations generalize the minimal representations of the usual Boolean functions. It is shown that implicants (implicates) of discrete functions may be constructed with the help of implicants (implicates) of binary functions. One substantial application is the description of the reliability structure of technical systems, another is the use of binary respectively discrete functions to classify objects which are described by the grades of certain attributes. Finally a class of Boolean algebras of practical importance (set algebras, indicator algebras, algebras of classes of propositions) are considered. The elements of such algebras have representations which are strongly connected with the representations of binary functions.

Generalized Convexity and Fractional Programming with Economic Applications
Generalized Convexity and Fractional Programming with Economic Applications

Author: Alberto Cambini

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 372

ISBN-13: 3642467091

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Generalizations of convex functions have been used in a variety of fields such as economics. business administration. engineering. statistics and applied sciences.· In 1949 de Finetti introduced one of the fundamental of generalized convex functions characterized by convex level sets which are now known as quasiconvex functions. Since then numerous types of generalized convex functions have been defined in accordance with the need of particular applications.· In each case such functions preserve soine of the valuable properties of a convex function. In addition to generalized convex functions this volume deals with fractional programs. These are constrained optimization problems which in the objective function involve one or several ratios. Such functions are often generalized convex. Fractional programs arise in management science. economics and numerical mathematics for example. In order to promote the circulation and development of research in this field. an international workshop on "Generalized Concavity. Fractional Programming and Economic Applications" was held at the University of Pisa. Italy. May 30 - June 1. 1988. Following conferences on similar topics in Vancouver. Canada in 1980 and in Canton. USA in 1986. it was the first such conference organized in Europe. It brought together 70 scientists from 11 countries. Organizers were Professor A. Cambini. University of Pisa. Professor E. Castagnoli. Bocconi University. Milano. Professor L. Martein. University of Pisa. Professor P. Mazzoleni. University of Verona and Professor S. Schaible. University of California. Riverside.

Improving Decision Making in Organisations
Improving Decision Making in Organisations

Author: Alan G. Lockett

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 620

ISBN-13: 3642492983

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McrM has been an active research area for over 20 years and the previous conferences clearly showed a tremendous growth of interest. A variety of successful applications and recent developments of interactive computer software to support decision making confinn a sustained progress. We therefore decided to make our theme "Inlproving Decision Making in Organisations". '!he aim was to take stock of the impact of multicriteria concepts in organisations and to involve management practitioners from a wide range of backgrounds. To this end the conference was organised round five broad themes and papers were solicited on the following topics:- Psychology - how do individuals in practice use and relate to the methodologies. Organisation - how do our models fit into the decision making framework of real organisations. Application - how have the models been used in practice and what is the users view. Methodology - what are the new areas in model development. Related Areas - is there complementary work eg. Expert Systems which may be attempting to solve very similar problems. '!he call for papers produced an overwhelming response of over 100 papers. '!hey were from a variety of disciplines and applications, and we decided to devote approximately one day to each of the five areas. We are very impressed by the results which can be seen in this edited proceedings.

Descriptive Theories of Bargaining
Descriptive Theories of Bargaining

Author: Gerald R. Uhlich

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 177

ISBN-13: 3642456723

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The aim of this book is the presentation of two new descriptive theories for experimental bargaining games and a comparison with other descriptive and normative theories. To obtain data it was necessary to develop two sets of computer programs for computer controlled ex periments. Moreover, data obtained by other researchers, which are available to us will be included in this study. The use of laboratory experiments in economics was introduced by THURSTONE [1931] in the field of utility theory. CHAMBERLIN [1948] was the first person to establish an expe rimental market for the purpose of testing a theory. The first experiment on characteristic function games was done by KALISH, MILNOR, NASH, and NERING [1954]. Today the use of experiments in controlled laboratory settings has become widespread. Earlier, economists went into the field to observe phenomena as the behavior of individuals, corporations and nations in action, then they formulated theories to explain what they saw. But unlike natural scientists, economists have not been able to test their theories under controlled conditions. Now experimental economists are able to replicate their results. Replication is very proble matic for field studies, because rarely the same conditions can be established again. Moreover, experimenters are able to test theories for situations described by simplified models which are not observable in the real world.

Methodology and Software for Interactive Decision Support
Methodology and Software for Interactive Decision Support

Author: Andrzej Lewandowski

Publisher: Springer Science & Business Media

Published: 2013-06-29

Total Pages: 320

ISBN-13: 3662221608

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These Proceedings report the scientific results of an International Workshop on Methodology and Software for Interactive Decision Support organized jointly by the System and Decision Sciences Program of the International Institute for Applied Sys tems Analysis (nASA, located in Laxenburg, Austria) and The National Committee for Applied Systems Analysis and Management in Bulgaria. Several other Bulgarian institutions sponsored the Workshop - The Committee for Science to the Council of Ministers, The State Committee for Research and Technology and The Bulgarian In dustrial Association. The workshop was held in Albena, on the Black Sea coast. More than 80 scientists from 15 countries attended the workshop; 50 lectures were presented and 17 computer demonstration sessions took place. This Workshop is one of a series of meetings organized by nASA with the collaboration of scientific institutions from the National Member Organization countries. The previous meetings took place in Austria (1983), Hungary (1984) and the German Democratic Republic (1985). All proceedings of these meetings have been published by Springer Verlag in the series Lecture Notes in Economics and Mathematical Systems.

Nonlinear and Convex Analysis in Economic Theory
Nonlinear and Convex Analysis in Economic Theory

Author: Toru Maruyama

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 303

ISBN-13: 364248719X

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The papers collected in this volume are contributions to T.I.Tech./K.E.S. Conference on Nonlinear and Convex Analysis in Economic Theory, which was held at Keio University, July 2-4, 1993. The conference was organized by Tokyo Institute of Technology (T. I. Tech.) and the Keio Economic Society (K. E. S.) , and supported by Nihon Keizai Shimbun Inc .. A lot of economic problems can be formulated as constrained optimiza tions and equilibrations of their solutions. Nonlinear-convex analysis has been supplying economists with indispensable mathematical machineries for these problems arising in economic theory. Conversely, mathematicians working in this discipline of analysis have been stimulated by various mathematical difficulties raised by economic the ories. Although our special emphasis was laid upon "nonlinearity" and "con vexity" in relation with economic theories, we also incorporated stochastic aspects of financial economics in our project taking account of the remark able rapid growth of this discipline during the last decade. 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. Thirty invited talks (six of them were plenary talks) given at the conf- ence were roughly classified under the following six headings : 1) Nonlinear Dynamical Systems and Business Fluctuations, . 2) Fixed Point Theory, 3) Convex Analysis and Optimization, 4) Eigenvalue of Positive Operators, 5) Stochastic Analysis and Financial Market, 6) General Equilibrium Analysis.

Aspiration Based Decision Support Systems
Aspiration Based Decision Support Systems

Author: Andrzej Lewandowski

Publisher: Springer Science & Business Media

Published: 2013-11-11

Total Pages: 411

ISBN-13: 366221637X

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It is not easy to summarize -even in a volume -the results of a scientific study con ducted by circa 30 researchers, in four different research institutions, though cooperating between them and jointly with the International Institute for Applied Systems Analysis, but working part-time, sponsored not only by IIASA's national currency funds, but also by several other research grants in Poland. The aims of this cooperative study were de fined broadly by its title Theory, Software and Testing Examples for Decision Support Systems. The focusing theme was the methodology of decision analysis and support related to the principle of reference point optimization (developed by the editors of this volume and called also variously: aspiration-led decision support, quasi-satisfying framework of rationality, DIDAS methodology etc. ). This focusing theme motivated extensive theoretical research - from basic methodological issues of decision analysis, through various results in mathematical programming (in the fields of large scale and stochastic optimization, nondifferentiable optimization, cooperative game theory) mo tivated and needed because of this theme, through methodological issues related to software development to issues resulting from testing and applications. We could not include in this volume all papers -theoretical, methodological, appiied, software manu als and documentation -written during this cooperative study.

Cost Analysis Applications of Economics and Operations Research
Cost Analysis Applications of Economics and Operations Research

Author: Thomas R. Jr. Gulledge

Publisher: Springer Science & Business Media

Published: 2013-06-29

Total Pages: 421

ISBN-13: 1468463845

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Cost Analysis is an emerging sub-discipline of Economics and Operations Research. This is the first collection of readings that spans the discipline. The contributions are both theoretical and applications oriented. This book is directed to researchers in Economics, Operations Research, Industrial Engineering, and Managerial Accounting. In particular, the book provides an overview of the types of problems that are of interest to cost researchers. These papers are a subset of the papers that were presented at the 1989 Joint National Meeting of the Institute of Cost Analysis and the National Estimating Society in Washington, D.C.