In its latest annual report, of which this is an extract, the Productivity Commission responds to current misconceptions about globalisation and the World Trade Organization (WTO). The Commission notes that, among other trends, there has been a five-fold increase in average per capita income...

This paper provides a step-by-step hands on introduction to the techniques used in setting up and solving moral hazard problems with lotteries using Matlab. It uses a linear programming approach due to its relative simplicity and the high reliability of the available optimization algorithms.

The classical Quadratic Programming (QP) formulation of the well-known portfolio selection problem has traditionally been regarded as cumbersome and time consuming. This paper formulates two additional models, (i) maximin, and (ii) minimization of mean absolute deviation. Data from 67 securities...

In practice, all option strategies are decided in advance, given the investor’s belief of the stock price. In this paper, instead of deciding in advance the most appropriate hedging option strategy, an LP problem is formulated, by considering all significant Greek parameters of the...

In this paper we show that a feasible price allocation pair is a market equilibrium of a discrete market game if and only if it solves a linear programming problem. We use this result to obtain computable necessary and sufficient conditions for the existence of market equilibrium. We assume that...

Linear programming model and general reciprocity theorem in mathematical programming are used to ap-proach utility functions of six large-scale Russian (the Moscow Region) case farms representing different production patterns. Technological coefficients of linear programmes are defined by means...

CALPAN is a set of DOS programs for microcomputers, designed to calculate accounting price ratios using input-output techniques. It also serves to calculate domestic resource costs of foreign exchange and other useful preprogrammed operations, as well as to perform arithmetic operations with...

This paper shows how to shadow price partially traded goods following the standard rules of cost-benefit analysis, i.e. identifying the individuals affected, measuring their corresponding compensating variations, and aggregating those measures according to a distributional value judgement. The...