First degree stochastic dominance rules for uncertain options (distributions of returns) have been developed for the following two cases: (a) multi-period additive utility functions, (b) univariate utility functions and compound distributions of returns. In the first case, the suggested rule is...

This paper uncovers an implicit assumption, and its implications, made in the process of maximizing yield (or minimizing costs) subject to the duration constraints. Using linear programming results, it is shown that this technique is sensible only if the yield of a bond is a linear function of...

The purpose of this note is to discuss the usefulness of activity analysis as a general approach and as a wide framework in which it becomes possible to analyze the selection of optimal combinations of projects in the dependence case.