Social cost functions in humanitarian operations are defined as the sum of logistics and deprivation costs. They are widely regarded as appropriate objective functions, even though the way they were introduced requires cautiously formulated deprivation cost functions for the analyzed goods and...

We propose a framework for comparing and contrasting the portfolio blending and signal blending approaches for constructing long-only multi-factor strategies, based on exposure-matched portfolios. According to this framework, we expect the two approaches to perform similarly at low-to-moderate...

In this paper, we discuss the heavily debated issue whether trust (formal institutions) can only serve as complement(s) or rather as substitute(s) of formal institutions (trust). We take trust as a specific, cooperative investment. The trustor is mainly interested in the reliability of the...

Some years ago (before the outbreak of the financial crisis) most of the major central banks — in general — shifted to interest rate control. But does this fact render obsolete the IS-LM scheme, which is apparently tied to money supply control? And isn't it necessary to find a solid basis...