The sum of a supermodular function, assumed nondecreasing in the choice variable, and of a 'concavely supermodularizable' function, assumed nonincreasing in the parameter variable, satisfies the Milgrom- Shannon (1994, Monotone comparative statics, Econometrica 62, 157-180) single crossing...

We consider the solution of bound constrained optimization problems, where we assume that the evaluation of the objective function is costly, its derivatives are unavailable and the use of exact derivative-free algorithms may imply a too large computational burden. There is plenty of real...

The multi-drop container loading problem (MDCLP) requires loading a truck so that boxes can be unloaded at each drop-off point without rearranging other boxes to deliver later. However, modeling such unloading constraints as hard constraints, as done in the literature, considerably limits the...

Exact analytical solutions to the problem of computing a minimum semivariance portfolio cannot be obtained due to the endogeneity of the semicovariance matrix. However, when the number of assets is small, the weights for such a portfolio can be determined numerically. This paper presents the R...

In this paper, we perform an in - depth investigation of relative merits of two adaptive learning algorithms with constant gain, Recursive Least Squares (RLS) and Stochastic Gradient (SG), using the Phelps model of monetary policy as a testing ground. The behavior of the two learning algorithms...

This paper provides a new technique for representing discrete time nonlinear dynamic stochastic time invariant maps. Using this new series representation, the paper augments the usual solution strategy with an additional set of constraints thereby enhancing algorithm reliability. The paper also...