This paper investigates a widely quoted stock market index, the Dow Jones Industrial Average (hereafter DJI), and constructs some alternative indices. Their performances are compared to the DJI. The question of applying the indices to problems of portfolio selection is explored when investors'...

Correction to the article Feeney, G. J., C. C. Sherbrooke. 1966. (s - 1, s) Inventory policy under compound poisson demand. Management Sci. 12(5, January) 391-411.

It is the purpose of this paper to suggest that inventory control operations involve two distinct types of problems which may be identified as tactical decision problems and strategic decision problems. The difference between these two types of problems will be discussed in more detail below....

Stimulated by Frank Knight's work, "Risk, Uncertainty and Profit," I present a theory of innovation based on what I term Knightian decision theory. This theory includes a concept of uncertainty aversion, a behavioral property that makes people reluctant to undertake new unevaluatable risks. This...

Sufficient conditions are given for large replica games without side payments to have non-empty approximate cores for all sufficiently large replications. No "balancedness" assumptions are required. The conditions are superadditivity, a very weak boundedness condition, and convexity of the...

We consider the relationship between the length of life of individuals and the assets they own and their influence on trustless trade. In particular in some structures a role for government or an outside bank may be called for to support an equilibrium. An example of an OLG model with production...