Global sensitivity indices for rather complex mathematical models can be efficiently computed by Monte Carlo (or quasi-Monte Carlo) methods. These indices are used for estimating the influence of individual variables or groups of variables on the model output.

This paper describes the functionality and implementation of COOPT. This software package implements a direct method with modified multiple shooting type techniques for solving optimal control problems of large-scale differential–algebraic equation (DAE) systems. The basic approach in COOPT is...

This paper presents a new approach to real options. The current options-based models have provided new insights into capital-budgeting decisions. Unfortunately they are not widely used by corporate managers and practitioners as they are formally complex, rather difficult to understand and rest...

Directional derivatives are the ideal tool to model simultaneous shifts of the instruments of economic policy. Provided the equilibrium solution of an oligolistic model are differentiable with respect to the parameter, such a problem can be easily solved considering shift in single instruments,...

This note provides two necessary and sufficient conditions for the relative interior of the core (and the base polyhedron) to be non-empty: (i) the second largest excess of the prenucleolus is negative; (ii) the grand coalition's payoff is greater than the minimum no-blocking payoff. Such...

There has been public concern about the effect of immigration on population growth in the U.S. But how responsive is population growth to immigration? This paper examines the sensitivity of intrinsic population growth to immigration and situates such sensitivity in fertility and survival...

We maintain that the actions of researchers show that data mining is a necessary part of econometric inquiry. We analyse this phenomenon using the analogy of an industry producing a product (econometric analyses). There is a risk of selective reporting as Mayer indicates but we argue that other...