It has been submitted that, for the very large number of different traditional formulae to determine price indices associated with a pair of periods, which are joined with the longstanding question of which one to choose, they should all be abandoned. For the method proposed instead, price...

Sovereign states issue fixed and floating securities to fund their public debt. The value of such portfolios strongly depends on the fluctuations of the term structure of interest rates. This is a typical example of planning under uncertainty, where decisions has to be drawn on the base of the...

We solve the problem of a social planner who seeks to minimize inequality via transfers with a fixed public budget in a distribution of exogenously given incomes. The appropriate solution method depends on the objective function: If it is convex, as in the case of the absolute mean deviation, it...

Given a set of elements, each having a profit and cost associated with it, and a budget, the 0-1 knapsack problem finds a subset of the elements with maximum possible combined profit subject to the combined cost not exceeding the budget. In this paper we study a stochastic version of the problem...