On shadow prices for the measurement of sustainability
نویسندگان
چکیده
منابع مشابه
RANKING DMUS ON THE BENCHMARK LINE WITH EQUAL SHADOW PRICES
Data envelopment analysis (DEA) with considering the best condition for each decision making unit (DMU) assesses the relative efficiency for it and divides a homogenous group of DMUs in to two categories: efficient and inefficient, but traditional DEA models can not rank efficient DMUs. Although some models were introduced for ranking efficient DMUs, Franklin Lio & Hsuan peng (2008), proposed a...
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For utility maximization problems under proportional transaction costs, it has been observed that the original market with transaction costs can sometimes be replaced by a frictionless shadow market that yields the same optimal strategy and utility. However, the question of whether or not this indeed holds in generality has remained elusive so far. In this paper we present a counterexample whic...
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In a financial market with a continuous price process and proportional transaction costs we investigate the problem of utility maximization of terminal wealth. We give sufficient conditions for the existence of a shadow price process, i.e. a least favorable frictionless market leading to the same optimal strategy and utility as in the original market under transaction costs. The crucial ingredi...
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ژورنال
عنوان ژورنال: Environment, Development and Sustainability
سال: 2008
ISSN: 1387-585X,1573-2975
DOI: 10.1007/s10668-008-9174-z