This paper attempts to find the optimal formation of three midfielders and three forward football players on ground, using the classic Quadratic Assignment Problem or Facility Layout problem. Players are treated as “machines”, their positions as locations, and the flow of materials between...

The paper analyses how the data envelopment analysis (DEA) and fuzzy set theory can be used to measure and evaluate the efficiency of a hierarchical system with n decision making units and a coordinating unit. It is presented a model for determining the of activity levels of decision making...

We analyse the welfare outcomes of market distortions using a general-equilibrium model of a small, open economy that captures the trade-theoretic continuum from specific factors to Heckscher-Ohlin. We show the importance of two intrinsically dynamic phenomena on evaluating market distortions:...

The foundation of welfare economics is the assumption of Pareto-efficiency and its concept of tradeoffs. Also the production possibility frontier, efficiency frontier, nondominated set, etc., belong to the plethora of tools derived from the Pareto principle. The assumption of tradeoffs does not...

The presentation will discuss the economic meaning of the concept of the Value of a Statistical Life (VSL) and review some of its properties. In particular, the age pattern of the VSL is considered. The presentation will also review recent estimates of the magnitude of a VSL taken from different...

This chapter deals with the situation of Cost Benefit Analysis applied to transport projects in France. The principles of the directives now in force are analysed. They are based on the Dupuit surplus, including user’s surplus, external effects and producer’s surplus. The unitary values of...

Using real options, we formulate an optimal stopping model for applying pest control measures when the density of a pest population fluctuates randomly. This model is applied to the control of a foliar pest of apples (the European Red Mite) via a pesticide, and solved numerically by a...

We present a decomposition approach for integrated assessment modeling of climate policy based on a linear approximation of the climate system. Our objective is to demonstrate the usefulness of decomposition for integrated assessment models posed in a complementarity format. First, the...

After the flood disaster in 1953 in the southwestern part of the Netherlands, Van Dantzig tried to solve the economic decision problem concerning the optimal height of dikes. His solution has a fixed probability of flooding after each investment (Econometrica, 1956). However, when there is...

We discuss the nonparametric approach to profit efficiency analysis at the firm and industry levels in the absence of complete price information, and propose two new insights. First, choosing one commodity (whose price is known) as a numeraire good enables us to measure profit inefficiency in...