propose a decomposition based on the directional distance function that does not suffer from this problem and can be also … connection between the directional distance function and slack-based efficiency measurement, the method can easily be extended to …

to derive optimal asset allocation and consumption. However, and contrary to the indirect utility function, the direct … utility function does not describe the risk aversion of agents at optimum. To correct his flaw, we propose a dynamic asset … allocation setting where the input is the indirect utility function. In this economically sound framework, optimal consumption …

, concave, or strictly quasiconcave depending on the function homogeneity degree. It is symmetric if, and only if, surface …, independently of the surface concavity, the cost function and compensated input demands are always defined and well behaved …

This study proposes a novel production function of digital empowerment. It constructs a theoretical framework to …