An imperfectly competitive economy is very prone to market uncertainty, including uncertainty about the liquidity (or "thickness") of markets. We show, in particular, that there exist stochastic equilibrium outcomes in nonstochastic market games if (and only if) the endowments are not Pareto optimal. We also provide a link between extrinsic uncertainty arising in games (e.g. correlated equilibr...

technical and scale efficiencies of cotton farms, in khorasan province, were estimated through the parametric approach during the period 2000-2003. efficiency was estimated through stochastic translog frontier production function based on panel data. results indicated that technical efficiency wa rated as less than scale efficiency. means of technical and scale efficiency were found to be 63 an...

Congestion management in electricity markets is traditionally done using deterministic values of power system parameters considering a fixed network configuration. In this paper, a stochastic programming framework is proposed for congestion management considering the power system uncertainties. The uncertainty sources that are modeled in the proposed stochastic framework consist of contingencie...

in this paper, a class of semi-implicit two-stage stochastic runge-kutta methods (srks) of strong global order one, with minimum principal error constants are given. these methods are applied to solve itô stochastic differential equations (sdes) with a wiener process. the efficiency of this method with respect to explicit two-stage itô runge-kutta methods (irks), it method, milstien method, sem...

This paper presents a multi-objective simulated annealing algorithm for the mixed-model assembly line balancing with stochastic processing times. Since, the stochastic task times may have effects on the bottlenecks of a system, maximizing the weighted line efficiency (equivalent to the minimizing the number of station), minimizing the weighted smoothness index and maximizing the system reliabil...