The main goal of this paper is to develop accuracy estimates for stochastic programming problems by employing stochastic approximation (SA) type algorithms. To this end we show that while running a Mirror Descent Stochastic Approximation procedure one can compute, with a small additional effort, lower and upper statistical bounds for the optimal objective value. We demonstrate that for a certai...

Non-parametric DEA is a technique on the basic of mathematical programming to determine the efficiency of homological decision making units. DEA models changes in demand cause changes in variations in output levels and also will cause changes in a firm’s inefficiency. Often a firm can adjust input influencing on the output level. Models designed with technique on DEA that considers changes in d...

We consider consistent tests for stochastic dominance efficiency at any order of a given portfolio with respect to all possible portfolios constructed from a set of assets. We propose and justify approaches based on simulation and the block bootstrap to achieve valid inference in a time series setting. The test statistics and the estimators are computed using linear and mixed integer programmin...

This study presents a stochastic demand multi-product supplier selection model with service level and budget constraints using Genetic Algorithm. Recently, much attention has been given to stochastic demand due to uncertainty in the real world. Conflicting objectives also exist between profit, service level and resource utilization. In this study, the relationship between the expected profit an...

this paper is concerned with the estimation of frontier production function to measure the technical efficiency for iranian textile companies during 1995. the objective of this estimation is to investigate if there are any differences in the technical efficiency between the private and public firms as well as the relationship between technical efficiency and size of textile companies in iran. a...

in order to study the effective factors in sugar beet production, evaluation of technical, allocative and economical efficiency of sugar beet producers in bardsir city, 150 sugar beet producers were questioned by classified method. data were collected through questionnaire forms filled by producers in 2004-05. the stochastic frontier production and cost function method were used to analyze the ...

Can subsidies promote Pareto-optimum coordination? We found that partially subsidizing 2 out of 6 players in a laboratory coordination game usually produced better coordination and higher total payoffs both with deterministic and stochastic payoffs. After removing the subsidy, high coordination continued in most groups with stochastic payoffs, but declined for groups with deterministic ones. A ...

The technical efficiency involved in cocoa production in Cross River State was estimated using the stochastic frontier production function analysis. The effects of some selected socio- economic characteristics of the farmers on the efficiency indices were also estimated. The study relied upon primary data generated from interviewing cocoa farmers using a set of structured questionnaire. A multi...

This paper analyzes the dynamic properties of portfolios that sustain Pareto optimal allocations. We consider an in…nite horizon stochastic endowment economy where the actual process of the states of nature consists in i.i.d draws from a common probability distribution. The economy is populated by many Bayesian agents with heterogeneous prior beliefs over the stochastic process of the states of...

Fee-For-Service (FFS) contracts, first introduced in 2004, dramatically changed the way the pharmaceutical distribution supply chains are designed, managed, and operated. Investment buying (IB), forward buying in anticipation of drug price increases, used to be the way the distributors made most of their profits! FFS contracts limit the amount of inventory distributors can carry at any time (by...