This paper extends the socially responsible multiobjective problem to (i) estimating optimal portfolios via reward/risk maximization, (ii) including dependence structure between asset returns using vine copulas, and (iii) incorporating enhanced indexation utilizing cumulative zero-order...

Maxmin or minmax optimization problems arise in many applications. There is a classical connection between these problems and zero-sum games. This paper shows that, under certain conditions, maxmin solutions also arise from Nash equilibria of population games as studied in evolutionary game...

In proceeding beyond the generic optimal rotation model, forest economic research has applied variousspecifications that aim to circumvent the problems of high dimensionality. We specify an age- andsize-structured mixed-species optimal harvesting model with binary variables for harvest timing,...

Although multiple-purchase behavior is typical in retail practice, the choice model to portray such behavior is rare in existing research. This paper presents a new multiple-purchase (MP) choice model based on the multinomial logit (MNL) choice model, which allows customers to purchase more than...

This paper proposes a linear quadratic approximation approach to dynamic nonlinear rationally inattentive control problems with multiple states and multiple controls. An efficient toolbox to implement this approach is provided. Applying this toolbox to four economic examples demonstrates that...

Background: Farm-level models have become an important tool for agricultural economists as there is a growing demand for microsimulation and analysis of farms at the individual level. Objectives: In this paper, we present a mathematical model with the main objective of assessing the...

We consider the setting of a firm operating multiple warehouses and multiple stores where each warehouse is endowed with an initial non-replenishable inventory. There is a finite selling horizon and, at the beginning of each period, the firm needs to decide for each store how many units of...