In the paper a method is found for estimating approximate optimum points on efficient portfolios curve (risk-profit) that are connected with exponential utility functions being very frequently preferred in practice by investors.

Buyers requiring large parcels of land for development purposes engage several owners in a bilateral trade seeking monetary payment in exchange for land – a business transaction most often referred to in the literature as the problem of land assembly. To avoid the holdout problem which is a...

The management of introduced species that are both invasive and commercially valuable is contentious. While such species provide substantial economic benefits to some, they pose considerable costs to others due to negative impacts on ecosystems. We propose a decision framework to help balance...

We study increasing quasiconcave functions which are co-radiant. Such functions have frequently been employed in microeconomic analysis. The study is carried out in the contemporary framework of abstract convexity and abstract concavity. Various properties of these functions are derived. In...

Effective coordination is a hallmark of successful supply chain management. Without such coordination, vendors and buyers will act independently to make decisions that optimize their own objectives (e.g., maximize their respective profits or minimize their costs). This non-coordinated approach...

This paper presents a formalization and modification of Martin Seligman’s concept of full life, employing basic microeconomics. A class of Stone–Geary utility functions is proposed as an analytical tool for scrutinizing individual decision making with respect to a pleasant, engaged and...

We study appointment scheduling problems in continuous time. A finite number of clients are scheduled such that a function of the waiting time of clients, the idle time of the server, and the lateness of the schedule is minimized. The optimal schedule is notoriously hard to derive within...

In service systems, in order to balance the server’s idle times and the customers’ waiting times, one may fix the arrival times of the customers beforehand in an appointment schedule. We propose a procedure for determining appointment schedules in such a D/G/1-type of system by sequentially...