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We propose a new approach to portfolio optimization under uncertainty in the assets’ return distribution. The main idea is to optimize penalty functionals which model the investor’s aversion against this uncertainty. We focus on two specific proposals with an important practical feature: the stability of the resulting portfolio composition under changing input variables. We review existing appr...

I prove there exists no assignment mechanism that is strategy-proof, non-wasteful and satisfies equal treatment of equals. When outside options may exist, this strengthens the impossibility result of Bogomolnaia and Moulin (2001) by weakening ordinal efficiency to non-wastefulness. My result solves an open question posed by Erdil (2014) and complements his results on the efficient frontier of r...

In this contribution we analyze the effect that mutual information has on the actual performance of efficient negotiation methods. Specifically, we start by proposing the theoretical notion of Abstract Negotiation Method (ANM) as a map from the negotiation domain in itself, for any utility profile of the parties. ANM can face both direct and iterative negotiations, since we show that ANM class ...

analyzing efficiency in each economic sector to adopt policies for optimal use of production factors and avoid wasting resources is important. in this study, in order to have a more comprehensive evaluation of the performance of each unit, efficiency of broiler firms was measured using bounded data envelopment analysis which determines position of each unit relative to efficient and inefficient...

The standard assumption in the efficiency literature that firms desire to produce on the production frontier may not hold in an oligopolistic market where the production decisions of all firms will determine the market price, i.e. an increase in a firm’s output level leads to a lower market clearing price and potentially-lower profits. This paper models both the production possibility set and t...