The problem of obtaining the optimum design, which is able to discriminate between several rival models has been considered in this paper. We give an optimality-criterion, using a Bayesian approach. This is an extension of the Bayesian KL-optimality to more than two models. A modification is made to deal with nested models. The proposed Bayesian optimality criterion is a weighted average, where...

This paper presents contractors’ assessment and selection based on the multi-attribute methods in a competitive and risky environment. The model is based on a multi-attributes evaluation of contractors, the determination of their optimality criterion values calculated according to Hodges-Lehman rule. The proposed model could further be applied to construction operations. The attributes of contr...

We show which implicational relations hold between the three principles ex falso sequitur quodlibet, tertium non datur, and double negation elimination, on the basis of minimal logic.

We show that in sequential screening problems with ex post participation constraints, optimal contracts do screen sequentially when the principal and agent can trade multiple units, in contrast to when they can trade a single unit only. The difference arises because with multiple units, each marginal unit can be priced differently, giving rise to a larger number of screening instruments compare...

Sequential optimality conditions provide adequate theoretical tools to justify stopping criteria for nonlinear programming solvers. Here, nonsmooth approximate gradient projection and complementary approximate Karush-Kuhn-Tucker conditions are presented. These sequential optimality conditions are satisfied by local minimizers of optimization problems independently of the fulfillment of constrai...

Under certain conditions the optimal insurance policy will offer full coverage above a deductible, as Arrow and others have shown long time ago. Interestingly, the same design of insurance policies applies in case of a single loss and ex-ante moral hazard. However, many insurance policies provide coverage against a variety of losses and the possibilities for the insured to affect the probabilit...

Abstract Motivated by the long‐lasting debate on whether United States Department of Agriculture's (USDA's) World Agricultural Supply and Demand Estimates (WASDE) forecasts are optimal, we employ an unknown loss method for ex post evaluation which assumes that USDA forecasters' function is unknown. We conduct optimality tests WASDE corn, soybeans, wheat published during 1988–2019. Our results s...

‎In this paper‎, ‎some KKT type sufficient global optimality conditions‎ ‎for general mixed integer nonlinear programming problems with‎ ‎equality and inequality constraints (MINPP) are established‎. ‎We achieve‎ ‎this by employing a Lagrange function for MINPP‎. ‎In addition‎, ‎verifiable sufficient global optimality conditions for general mixed‎ ‎integer quadratic programming problems are der...

In this position paper, we argue that when we are looking for the best fuzzy logic, we should specify in what sense the best, and that we get different fuzzy logics as “the best” depending on what optimality criterion we use.