A shortage function is defined that looks for possible increases in return and skewness and decreases in variance. Global optimality is guaranteed for the resulting optimal portfolios. We also establish a link to a proper indirect mean-variance-skewness utility function. For computational reasons, the optimal portfolios resulting from this dual approach are only locally optimal. This framework ...

this paper describes a contra-rotating propeller (crp) system to calculate the hydrodynamic characteristics and then design the optimum operational condition to be installed on two different large bulk carriers and vlcc. the method is based on boundary element method (bem) to obtain the hydrodynamic performance of any complicated configuration such as crp system, and then the optimum propeller ...

This paper proves a First Welfare Theorem for Games it shows that asynchronous dynamic games with voluntary one period ahead transfers have a unique optimal equilibrium. The equilibrium coincides with the Utilitarian Pareto Optimum and hence can be computed from a (simpler) programming problem (rather than as a fixed point). Whilst it is commonly thought that Folk Theorems are endemic in dynami...