We analyze the behavior of a monopolistic firm in general equilibrium when the firm’s decision are taken through shareholder voting. We show that, depending on the underlying distribution, rational voting may imply overproduction as well as underproduction, relative to the efficient level. Any initial distribution of shares is an equilibrium, if individuals do not recognize their influence on v...

In this paper fully fuzzy linear programming (FFLP) problem with both equality and inequality constraints is considered where all the parameters and decision variables are represented by non-negative trapezoidal fuzzy numbers. According to the current approach, the FFLP problem with equality constraints first is converted into a multi–objective linear programming (MOLP) problem with crisp const...

A reduced order output feedback controller is designed for a linear time invariant system, which guarantees that the closed loop poles are placed within some pre-specified stability region in the complex plane. A convex approximation of the non-convex constraints is used to pose a sequence of semi-definite programs, which provide the lowest order proper controller satisfying the approximate con...

In this paper, we consider the determination methods of maximum entropy multivariate distributions with given prior under the constraints, that the marginal distributions or the marginals and covariance matrix are prescribed. Next, some numerical solutions are considered for the cases of unavailable closed form of solutions. Finally, these methods are illustrated via some numerical examples.

In this paper we revisit the question of whether relative performance-adjusted contracts provide portfolio managers with adequate incentives to gather information. We show that when portfolio managers are constrained in their ability to short-sell, relative performance-adjusted or linear ‘benchmarked’ contracts can provide incentives for gathering more precise information. We also provide condi...

in this paper, using clarke’s generalized directional derivative and di-invexity we introduce new concepts of nonsmooth k-α-di-invex and generalized type i univex functions over cones for a nonsmooth vector optimization problem with cone constraints. we obtain some sufficient optimality conditions and mond-weir type duality results under the foresaid generalized invexity and type i cone-univexi...

In recent years, online retailers (e-tailers) have started allowing manufacturers direct access to their customers while charging a fee for providing this access, a format commonly referred to as agency selling. In this paper, we use a stylized theoretical model to answer a key question that e-tailers are facing: When should they use an agency selling format instead of using the more convention...

The Train Timetabling Problem (TTP) consists in finding a train schedule on a railway network that satisfies some operational constraints and maximizes a profit function which counts for the efficiency of the infrastructure usage. In practical cases, however, the maximization of the objective function is not enough and one calls for a robust solution that is capable of absorbing as much as poss...