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Common Mistakes in Computing the Nucleolus

Guajardo, Mario; Jornsten, Kurt - 2014

Despite linear programming and duality have correctly been incorporated in algorithms to compute the nucleolus, we have found mistakes in how these have been used in a broad range of applications. Overlooking the fact that a linear program can have multiple optimal solutions and neglecting the...

Persistent link: https://www.econbiz.de/10014037353

On Houseswapping, the Strict Core, Segmentation, and Linear Programming

Quint, Thomas; Wako, Jun - 2003

We consider the n-player houseswapping game of Shapley-Scarf (1974), with indfferences in preferences allowed. It is well-known that the strict core of such a game may be empty, single-valued, or multi-valued. We define a condition on such games called "segmentability", which means that the set...

Persistent link: https://www.econbiz.de/10014084462

A Pure Binary LP Model to the Facility Layout Problem

Papahristodoulou, Christos - 1999

In facility layout problems, a major concern is the optimal design or remodeling of the facilities of an organization. The decision maker's objective is to arrange the facility in an optimal way, so that the interaction among functions (i.e. machines, inventories, persons) and places (i.e....

Persistent link: https://www.econbiz.de/10010321747

Measuring the Power of Nodes in Digraphs

Herings, P. Jean-Jacques; van der Laan, Gerard; Talman, Dolf - 2001

Many economic and social situations can be represented by a digraph. Both axiomatic and iterativemethods to determine the strength or power of all the nodes in a digraph have been proposed inthe literature. We propose a new method, where the power of a node is determined by both thenumber of its...

Persistent link: https://www.econbiz.de/10010325076

Approximate Results for a Generalized Secretary Problem

Dietz, Chris; van der Laan, Dinard; Ridder, Ad - 2010

A version of the classical secretary problem is studied, in which one is interested in selecting one of the b best out of a group of n differently ranked persons who are presented one by one in a random order. It is assumed that b is bigger than or equal to 1 is a preassigned number. It is...

Persistent link: https://www.econbiz.de/10010325704

On the Optimality of Regularity in Mixing Markovian Decision Rules for MDP Control

van der Laan, Dinard - 2010

In this paper we study Markov Decision Process (MDP) problems with the restriction that at decision epochs only a finite number of given Markovian decision rules may be applied. The elements of the finite set of allowed decision rules should be mixed to improve the performance. The set of...

Persistent link: https://www.econbiz.de/10010325920

An axiomatization of the Euclidean compromise solution

Voorneveld, Mark; van den Nouweland, Anne; McLean, Rich - 2008

The utopia point of a multicriteria optimization problem is the vector that specifies for each criterion the most favourable among the feasible values. The Euclidean compromise solution in multicriteria optimization is a solution concept that assigns to a feasible set the alternative with...

Persistent link: https://www.econbiz.de/10010281412

A note on arbitrage under transaction costs

Irle, Albrecht (contributor); Prelle, Claas (contributor) - 2008

Guasoni (2006) introduced a simple condition for the absence of arbitrage opportunities. In this note we show that his results remain valid under a weaker notion of arbitrage which arises by excluding liquidation costs from the value process of a portfolio. -- Arbitrage ; transaction costs ;...

Persistent link: https://www.econbiz.de/10003757575

From preferences to Cobb-Douglas utility

Voorneveld, Mark (contributor) - 2008 - Rev. October 27, 2008

theory ; Cobb-Douglas …

Persistent link: https://www.econbiz.de/10003766809

Outer measure and utility

Voorneveld, Mark (contributor); … - 2008 - This version: April 6, 2009

approach for countable domains and combining this with basic measure theory, we obtain necessary and sufficient conditions for … the existence of upper semi-continuous utility functions on a wide class of domains. Although links between utility theory … and measure theory have been pointed out before, to the best of our knowledge this is the first time that the present …

Persistent link: https://www.econbiz.de/10003766840