Typhoon Morakot hit Taiwan in 2009, severely damaging the Alishan National Forest Recreation Area, a famous tourist resort in Taiwan. The only highway to this area was under repair for 10 months after the typhoon. Consequently, Alishan’s tourism industry suffered losses estimated at NT$1...

Fund managers highly prioritize selecting portfolios with a high Sharpe ratio. Traditionally, this task can be achieved by revising the objective function of the Markowitz mean-variance portfolio model and then resolving quadratic programming problems to obtain the maximum Sharpe ratio...