The implications of a fractile approach to linear programming under risk through maximizing a given fractile of the distribution of profits under linear programming restrictions are examined here both theoretically, computationally and empirically.

A linear programming problem is said to be stochastic if one or more of the coefficients in the objective function or the system of constraints or resource availabilities is known only by its probability distribution. Various approaches are available in this case, which may be classified into...

New efficiency theory refers to the various parametric and semi-parametric methods of estimating production and cost frontiers, which include data envelopment analysis (DEA) with its diverse applications in management science and operations research. This monograph develops and generalizes the...

1. Optimal Decisions: Theory and Practice -- 2. Linear Programming Under Uncertainty -- 2.1 Introduction -- 2.2 Mixed Strategy Solutions -- 2.3 Informational Efficiency -- 2.4 Econometric Tests -- 3. Risk Aversion in Decision Models -- 3.1 Introduction -- 3.2 Risk Aversion in Economic Models --...

I. Introductory problems -- 1. Stochastic optimization: examples and applications -- 2. Stochastic optimization in linear economic models -- II. Linear quadratic models -- 3. Informetric analysis of dynamic decision rules in applied economic models. -- 4. Optimal output—inventory decisions in...

I: Methodology -- The Scientific Work of Gerhard Tintner -- Econometrics Needs a History: Two Cases of Conspicuous Neglect -- II: Planning Models -- Energy Pricing in a Welfare Framework: Issues in Equity, Efficiency and Exhaustibility -- Foreign Aid, Economic Development and Income...

1 Efficiency Analysis in Production -- 1.1 Partial and General Equilibrium Models -- 1.2 Production Frontier as Flexible Production Functions -- 1.3 Parametric Forms and their Econometric Estimation -- 1.4 Nonparametric Theory: Different Facets -- 1.5 Implications of Nonparametric Theory -- 2...

I. Introductory Essays -- 1. The Invisible Revolution in Economics: Emergence of a Mathematical Science -- 2. The Econometric Work of Gerhard Tintner -- II. Economic Models and Applications -- 3. The Demand for Capital Services -- 4. The Competitive Equilibrium: A Qualitative Analysis -- 5....

Econometrics as an applied discipline attempts to use information in a most efficient manner, yet the information theory and entropy approach developed by Shannon and others has not played much of a role in applied econometrics. Econometrics of Information and Efficiency bridges the gap. Broadly...

I. Econometric Models and Optimal Economic Policy -- II. Stochastic Processes in Economic Models -- III. Recent Economic Models in Applied Optimal Control -- IV. Efficient Diversification in Optimal Portfolio Theory -- V. Portfolio Efficiency under Singularity and Orthogonality -- VI....