In systems which serve many users there is a need to respect some fairness rules while looking for the overall efficiency. This applies among others to network design where a central issue is how to allocate bandwidth to flows efficiently and fairly. The so-called max-min fairness is widely used...

Markowitz formulated the portfolio optimization problem through two criteria: the expected return and the risk, as a measure of the variability of the return. The classical Markowitz model uses the variance as the risk measure and is a quadratic programming problem. Many attempts have been made...