We present a framework for multi-objective optimization where the classical mean-variance portfolio model is extended to integrate the environmental, social and governance (ESG) criteria on the same playing field as risk and return and, at the same time, to reflect the investors' preferences in...

Machine learning can be effectively used to generate models capable of representing the dynamic of production processes of small and medium-sized enterprises. These models enable the estimation of key performance indicators, and are often used for optimizing production processes. However, in...

We construct a new family of chance constrained directional models in stochastic data envelopment analysis, generalizing the deterministic directional models and the chance constrained radial models. We prove that chance constrained directional models define the same concept of stochastic...

Bei dem Neun-Sternchen-Problem geht es darum, neun regelmäßig in einem Quadrat angeordnete Sternchen mit vier zusammenhängenden geraden Linien zu verbinden. Das ist natürlich rein mathematisch gesehen unmöglich, solange man sich nur innerhalb des Quadrates bewegt. Lösbar wird die Aufgabe...

"Mechanism design is an analytical framework for thinking clearly and carefully about what exactly a given institution can achieve when the information necessary to make decisions is dispersed and privately held. This analysis provides an account of the underlying mathematics of mechanism design...