In this paper we present an algorithm for solving mathematical programming problems of the form: Find x - (x₁,..., x_n) to minimize \sum \varphi _i(x_i) subject to x \in G and l < x < L. Each \varphi _i is assumed to be lower semicontinuous, possibly nonconvex, and G is assumed to be closed. The algorithm is of the...</x>

The ´Portfolio Selection Problem´ is traditionally viewed as selecting a mix of investment opportunities that maximizes the expected return subject to a bound on risk. However, in reality, portfolios are made up of a few ´asset classes´ that consist of similar opportunities. The asset...

This paper presents an algorithm for determining the minimum cost schedule of tasks in a critical path network in which task cost-time curves may be concave. A computer program for the case of cost-time curves that are piecewise linear in two segments is described, and a numerical example is...

The computation of economic equilibria, given specific supply and demand functions, is a well-established problem normally treated by fixed point methods or other iterative schemes which converge to a point satisfying the equilibrium criteria. In cases where there are several points which...

There are many situations wherein a group of individuals (e.g., voters) must produce an ordered list of 'best' alternatives selected from a given group of alternatives (e.g., candidates). Standard approaches include ranked voting methods (RVMs) and methods of paired comparisons (MPCs). Typical...

Multi-level fixed-charge problems are mathematical optimization problems in which the separable portion of the objective function is the sum of piecewise continuous functions of a single variable. This paper describes a branch-and-bound algorithm that will find a global solution to this type of...

Statistical decision models are formulated for a decision situation involving a decision maker who is a broker, a person engaged in bringing together sellers and buyers to make transactions. The objective of the analysis is the determination of a plan in accordance with the broker's subjective...