A cake is a metaphor for a heterogeneous, divisible good, such as land. A perfect division of cake is efficient (also called Pareto-optimal), envyfree, and equitable. We give an example of a cake in which it is impossible to divide it among three players such that these three properties are satisfied, however many cuts are made. It turns out that two of the three properties can be satisfied by ...

Fair Division, unlike most research on fairness in the social sciences and mathematics, is devoted solely to the analysis of constructive procedures for actually dividing things up and resolving disputes, including...

Most econometric models of intrahousehold behavior assume that household decisionmaking is efficient, i.e., utility realizations lie on the Pareto frontier. In this paper we investigate this claim by adding a number of participation constraints to the household allocation problem. Short-run constraints ensure that each spouse obtains a utility level at least equal to what they would realize und...

this paper uses the concept of meta-frontier to investigate the relationship between meta technology ratios (mtr) and different varieties in datepalms including; mazafati, rabi and zardan that are produced widely in sistan and baluchestan province of iran. we used a stratified sampling of 300 date farmers of this province in 2010, 2011 and 2012 and estimated a stochastic production frontier usi...

This paper presents a method for performance evaluation, ranking and clustering based on the double-frontier view to analyze the complex networks. The model allows us to open the structure of the “black box” and can help to obtain important information about efficient and inefficient points of the system. In this paper, we consider a three-stage network, in respect to the additional desirable a...

This paper concerns the continuous-time, mean-variance portfolio selection problem in a complete market with random interest rate, appreciation rates, and volatility coefficients. The problem is tackled using the results of stochastic linear-quadratic (LQ) optimal control and backward stochastic differential equations (BSDEs), two theories that have been extensively studied and developed in rec...

Heuristic optimization provides a robust and efficient approach for extracting approximate solutions of multi-objective problems because of their capability to evolve a set of non-dominated solutions distributed along the Pareto frontier. The convergence rate and suitable diversity of solutions are of great importance for multi-objective evolutionary algorithms. The focu...

one of the important issues in data envelopment analysis (dea) is sensitivity analysis. heretofore the existent studies have considered the data modification of inputs and outputs in one or multiple dmus. in this paper the number of dmus is increased and a stability region is obtained in  by applying defining hyperplanes in which if the added dmu (only one dmu) is in this region then all of the...

Transitive closure operation is one of the most useful new operations in deductive database systems. When it is added to conventional relational database systems, most practical problems with recursion can be coped with. Therefore, efficient processing of transitive closure is an important task in deductive database systems. Transitive closure operation can be divided into total closure and que...

It is well-established that equity returns are not Normally distributed, but what should the portfolio manager do about this, and is it worth the effort? It is now feasible to employ better multivariate distribution families that capture heavy tails and skewness in the data; we argue that among the best are the Student t and skewed t distributions. These can be efficiently fitted to data, and s...