This paper derives fundamental arbitrage pricing results in finite dimensions in a simple unified framework using Tucker's theorem of the alternative. Frictionless results plus those with dividends, periodic interest payments, transaction costs, different interest rates for lending and...

Sustainable debt has become a key issue in rating of private as well as sovereign debtors. The problem of how to estimate sustainable debt has also been at the center of debate over theAsian 1997-1998 financial crisis. If the external value of the currency depends on the external debt of a...

Conjoint analysis, a preference measurement method typical in marketing research, has gradually expanded to other disciplines. Choice-based conjoint analysis (CBC) is currently the most popular type. Very few alternative estimation approaches have been suggested since the introduction of the...

This article results from our collaborative project with a Finnish bank aiming to evaluate the sales performance of bank branches. The management wishes to evaluate the branches’ ability to generate profit, which rules out the pure technical efficiency considerations. The branches operate in...

This article unifies and extends ideas from nonparametric production analysis and DEA for testing organizational efficiency. We show how the admissible price set can be restricted to account for prior information on prices. These restrictions may relate prices to input and output quantities in...