This paper develops a contest model of a professional sports league in which clubs maximize a weighted sum of profits and wins (utility maximization). The model analyzes how more win-oriented behavior of certain clubs affects talent investments, competitive balance and club profits. Moreover, in...

This study is arguing that management would benefit in pricing decision from simple rules of thumb more than from complicated models. These rules are easy to use and they provide management with useful support to move towards optimisation and to diminish gap between theory and practice. This...

This paper introduces a separation theorem for a two period general equilibrium model with endogenized asset structures and incomplete income transfer space. This theorem separates the activities of the consumers from the activities of the firms. The result improves on the objective function...

This paper presents an easy-to-use method for updating input-output (IO) matrices with sign-preservation by combining Lagrangian multipliers and penalty functions. Biproportional methods such as the representative RAS are very simple and popular because a target matrix can be obtained simply by...

This paper develops a contest model of a professional sports league in which clubs maximize a weighted sum of profits and wins (utility maximization). The model analyzes how more win-oriented behavior of certain clubs affects talent investments, competitive balance and club profits. Moreover, in...

Canal section design with minimum cost, which can be considered as an objective function, involves minimization of total costs per unit length of the canal, including direct costs of per cubic meter earthworks and per meter canal lining and indirect costs of water losses through canal seepage...

This paper provides a derivation, justification, and application of a generalised return on investment (ROI) objective function of a design-and-manufacturing or 'high-tech' industrial firm. Based on analysis originally presented in Steele (1995), it offers a more expansive literature review and...

This paper solves the search for interior solutions to optimization problems using stochastic variables. This is done by way of some new properties of distribution functions with increasing failure rates as characterized in Barlow and Proschan (1965). Building upon Lariviere (2006), we show that...