Duality for linear vector optimum problems is often just a mathematical construct (l'art pour l'art). We define a family of dual problems to support decision-makers in a concrete economic situation. Entrepreneurs generally want to participate in initiatives for producing new products with...

The restructuring of a bankrupt company often entails the sale of such company. This paper suggests a way to sell the company that maximizes the creditors' proceeds. The key to this proposal is the option left to the creditors to retain a fraction of the shares of the company. Indeed, by...

We propose a multi-stage stochastic trading cost model in optimal portfolio selection. This strategy captures uncertainty in implicit transaction costs incurred by an investor during initial trading and in subsequent rebalancing of the portfolio. We assume that implicit costs are stochastic as...

We analyze optimal compensation schedules for the directors of two plants belonging to the same owner and producing the same good but serving geographically differentiated markets. Since the outcome of each director depends on his own effort and on a random variable representing market...

I examine how the communication incentive of an agent (sender) changes when the prior of the principal (receiver) about the agent's private information becomes more optimistic (in the sense of monotone likelihood ratio dominance). I use the canonical model of strategic communication (Crawford...