We investigate a continuous-time mean–variance portfolio selection problem. Different from the general stochastic dynamic programming approach, such as using Hamilton–Jacobi–Bellman (HJB) equation, this paper adopts the Lagrange duality method and the finite difference approach to derive explicit closed-form expressions for the efficient investment strategy and the mean–variance efficient front...

this paper is concerned with the estimation of frontier production function to measure the technical efficiency for iranian textile companies during 1995. the objective of this estimation is to investigate if there are any differences in the technical efficiency between the private and public firms as well as the relationship between technical efficiency and size of textile companies in iran. a...

Productive efficiency for Chinese hybrid and conventional rice production is estimated using a dual stochastic frontier efficiency decomposition model. Results reveal significant differences in technical and allocative efficiency between conventional and hybrid rice production, and indicate significant regional efficiency differences in hybrid rice production, but not in conventional rice produ...

LEARNING EFFICIENCY OF ECONOMICS STUDENTS* Using a stochastic frontier approach this paper evaluates the effects of substantial changes in the teaching material on students learning efficiency. The results indicate that the main effects of the re-organization on the learning efficiency was a decreasing importance of students’ attendance and of continuous preparation of the material. JEL Classif...