This essay reviews new histories of the role of game theory and rational decision-making in shaping the social sciences, economics among them, in the post war period. The recent books "The World the Game Theorists Made" by Paul Erickson and "How Reason Almost Lost Its Mind" by Paul Erickson,...

This essay reviews new histories of the role of game theory and rational decision-making in shaping the social sciences, economics among them, in the post war period. The recent books The World the Game Theorists Made by Paul Erickson and How Reason Almost Lost Its Mind by Paul Erickson, Judy...

This paper presents a method of calculating sharp bounds on the average treatment effect using linear programming under identifying assumptions commonly used in the literature. This new method provides a sensitivity analysis of the identifying assumptions and missing data in an application...

The main goal of the paper is to show the application of the projection method as a tool for the analysis of transitional dynamics of endogenous growth models, the analysis which is very often omitted in common literature on the topic. The application of the method is demonstrated on an...

We introduce the market resources method (MRM) for solving dynamic optimization problems. MRM extends Carroll’s (2006) endogenous grid point method (EGM) for problems with more than one control variable using policy function iteration. The MRM algorithm is simple to implement and provides...

In a less widely known contribution, Béla Martos (1966, Hungarian Academy of Sciences) introduced a generalized notion of concavity that is closely related to what is nowadays known as r-concavity in the operations research literature, and that is identical to what is nowadays known as...

An optimal portfolio with the highest possible Sharpe ratio plays an important role for capital allocation and performance evaluation. This paper introduces a simple algorithm for finding the Sharpe-optimal portfolio without solving a non-linear problem. The results are tested on S&P 100...

The growing demand for electronic devices has made the manufacturing of printed circuit boards (PCBs) a promising industry over the last decades. As the demand for printed circuit boards increases, the industry becomes more dependent on highly automated assembly processes using Surface Mounting...

This article introduces a new approach to the tracking portfolio composition. Unlike traditional approaches, it doesn't require benchmark composition to be known and works on any sets of assets. Models presented in the article allow deriving a portfolio composition that results in the optimal...

This paper demonstrates the sensitivity of the linear programming approach in the estimation of productivity measures in the primal framework. Specifically, the sensitivity to the number of constraints (level of dis-aggregation) and imposition of returns to scale constraints is evaluated....