Any linear programming problem marked as P and called ”primal” can be seen in connection with another linear programming problem marked as D and called ”dual”. The economic interpretation of the dual model brings about new information when analyzing such phenomena and when substantiating...

In this paper we consider the optimal stopping problem for general dynamic monetary utility functionals. Sufficient conditions for the Bellman principle and the existence of optimal stopping times are provided. Particular attention is payed to representations which allow for a numerical...

This note determines the precise connection between an agent's attitude towards income risks and his attitude over risks in the underlying consumption space. Our results follow a general mathematical theory connecting the curvature properties of an objective function with the ray-curvature...

This paper establishes and interprets a necessary and sucient condition for existence of (countably additive) correlated equilibrium in n-person games, assuming only that utility functions are bounded, measurable. A sequence of deviation profiles is consistent if there exists a correlated...

In the present paper an analysis of the neo-classical optimization model with linear constraints is proposed. By introducing the dual problem it is shown that the solution to the maximization problem is also a solution to the minimization problem. The purely theoretical model proposes a...