Multi-objective analysis is a popular tool in many economic, managerial, constructional, etc. problems. The objective of this research is to develop and implement a methodology for multi-objective optimization of multi-alternative decisions in road construction. After a rough overview of multi-objective decision support for assessment of road design alternatives multi-objective optimization wit...

In this paper we analyze the conditions under which a foreign direct investment (FDI) involves a net capital flow across countries. Frequently, foreign direct investment is financed in the host country without an international capital transfer. We develop a model in which the optimal choice of financing an international investment trades off the relative costs and benefits associated with the a...

after a relatively long period of centralization and with the beginning of decentralization experiences since 1970s, the periodical orientations and trends of governments towards both centralization and decentralization systems appeared. stemming generally from political and economic domains, decentralization entered curriculum and education system from these domains. problems such as deficienc...

We incorporate managerial e¤orts inside …rms in a standard monopolistic competition model a la Krugman(1980) with heterogenous …rms. The manager works to increase probability of productivity improvement for the …rm. Due to unobservable managerial e¤ort and limited liability, the optimal managerial compensation scheme links the market performance of the …rm to managerial incentives. Managers in ...

We propose a novel approach to evaluating the empirical importance of individual managerial characteristics: We analyze different managerial positions (CEO and CFO) jointly and ask whether a managerial bias (overconfidence) matters for decisions under the control of the manager, but not for decisions outside the manager’s core duties. Using a new data set on CEO and CFO overconfidence, we show ...