Systematic approaches to validation of linear programming models are discussed for prescriptive and predictive applications to economic problems. Specific references are made to a general linear programming formulation, however, the approaches are applicable to mathematical programming...

Concern over the effects of public policies based on misspecified econometric models motivates interest in a procedure to test, diagnose, and improve the specification of models that have been estimated with three-stage least squares. A test of system-wide specification based on Hausman's...

Use of generalized stochastic dominance (GSD) requires one to place lower and upper bounds on the risk aversion coefficient. This study showed that breakeven risk aversion coefficients found assuming the exponential utility function delineate the places where GSD preferences switch between...