As will be shown the current use of Desirability Indices for optimisation purposes in experimental design gives biased results in general. Researchers were satisfied with approximative solutions as unbiased results would have required analytical expressions for the distributions of Desirability...

The paper deals with the mathematical modelling of some requirements that must be fulfilled at a choice of entrepreneurial intentions. The author mathematically formulates some special constraints and various types of the objective function in linear optimization models of entrepreneurial...

Decision Analysis can not be done without some reflection on the normative grounds of the analysis. The aim of decision analysis is to recommend an action. This recommendation constitutes a normative act. There are mainly two economic decision analyses: Cost-benefit analysis and...

Our contribution offers a methodological exhibition of general equilibrium models with price and quantity signals. By the application of optimal value functions the household as well as the firm behaviour is modelled. The concepts of virtual prices and virtual quantities allow us to express...

The basic ideas of Desirability functions and indices are introduced and compared to other methods of multivariate optimisation. It is shown that gradient based techniques are not in general appropriate to perform the numerical optimisation for Desirability indices. The problems are shown for...

Given the production technology of a multiproduct firm, economists usually try to represent this technology by functions, namely the cost function, the revenue function and the input and output distance functions. In doing so the analysis directs the attention to the (dual)matching of quantities...

An integrated ecological-economic decision-making approach is developed to help local stakeholders decide on land use in rural areas where the conflict between natural resource protection and economic development is pressing. It consists of four methodological steps. In the first step the...

This paper presents the large scale systems software packages SISCON used to assess optimal decisions of large scale industrial systems. In the beginning SISCON software packakges assess mathematical models developed based on experimental data, that have used LS models for linear and non-linear...