Among the many demand specifications in the literature, the Rotterdam model and the Almost Ideal Demand System (AIDS) have particularly long histories, have been highly developed, and are often applied in consumer demand systems modeling. Using Monte Carlo techniques, we seek to determine which...

Efficient allocation of resources is the basic problem in economics. Firms, educational institutions, universities are faces problem of estimating true abilities and ranking of individuals to be selected for job, admissions and scholarship awards etc. This study will provide a guide line what...