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Economists, psychologists, and marketers are interested in determining the monetary value people place on non-market goods for a variety of reasons: to carry out cost-benefit analysis, to determine the welfare effects of technological innovation or public policy, to forecast new product success, and to understand individual and consumer behavior. Unfortunately, many currently available techniques for eliciting individuals' values suffer from a serious problem in that they involve asking individuals hypothetical questions about intended behavior. Experimental auctions circumvent this problem because they involve individuals exchanging real money for real goods in an active market. This represents a promising means for eliciting non-market values. Lusk and Shogren provide a comprehensive guide to the theory and practice of experimental auctions. It will be a valuable resource to graduate students, practitioners and researchers concerned with the design and utilization of experimental auctions in applied economic and marketing research.
Auctions. --- Consumers' preferences --- Mathematical models. --- Auctions --- consumentengedrag --- kwantitatieve methoden --- marketing research --- mathematische modellen, toegepast op bedrijfsleven --- mathematische modellen, toegepast op economie --- Dutch auctions --- Vendues --- Bailments --- Commercial law --- Mathematical models --- Business, Economy and Management --- Economics
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Optimization models play an increasingly important role in financial decisions. This is the first textbook devoted to explaining how recent advances in optimization models, methods and software can be applied to solve problems in computational finance more efficiently and accurately. Chapters discussing the theory and efficient solution methods for all major classes of optimization problems alternate with chapters illustrating their use in modeling problems of mathematical finance. The reader is guided through topics such as volatility estimation, portfolio optimization problems and constructing an index fund, using techniques such as nonlinear optimization models, quadratic programming formulations and integer programming models respectively. The book is based on Master's courses in financial engineering and comes with worked examples, exercises and case studies. It will be welcomed by applied mathematicians, operational researchers and others who work in mathematical and computational finance and who are seeking a text for self-learning or for use with courses.
Corporate finance --- Operational research. Game theory --- -Mathematical optimization --- Finance --- Mathematical optimization --- lineaire algebra --- lineaire programmering --- mathematische modellen, toegepast op economie --- stochastische processen --- Optimization (Mathematics) --- Optimization techniques --- Optimization theory --- Systems optimization --- Mathematical analysis --- Maxima and minima --- Operations research --- Simulation methods --- System analysis --- Mathematical models --- Mathematical optimization. --- Finances --- Optimisation mathématique --- Mathematical models. --- Modèles mathématiques --- Finance - Mathematical models --- Mathematical Sciences --- General and Others
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This introductory text explores the theory of social choice. This text is an important starting point for students grappling with the complexities of social choice theory. Rigorous yet accessible, with new chapter exercises, it avoids the use of technical language and provides an up-to-date discussion of this rapidly developing field.
Social choice --- Decision making -- Social aspects. --- Leadership. --- Social choice. --- Economic Theory --- Business & Economics --- AA / International- internationaal --- 330.580 --- 303.0 --- 305.0 --- econometrie --- mathematische modellen, toegepast op economie --- besluitvorming --- milieubeleid --- Gecontroleerde economie. Geleide economie. Welvaarststaat. Algemeenheden. --- Statistische technieken in econometrie. Wiskundige statistiek (algemene werken en handboeken). --- Toegepaste econometrie en statistiek (algemene naslagwerken). Statistische onderzoekingen en studiën. --- Choice, Social --- Collective choice --- Public choice --- Choice (Psychology) --- Social psychology --- Welfare economics --- E-books --- Statistische technieken in econometrie. Wiskundige statistiek (algemene werken en handboeken) --- Toegepaste econometrie en statistiek (algemene naslagwerken). Statistische onderzoekingen en studiën --- Gecontroleerde economie. Geleide economie. Welvaarststaat. Algemeenheden
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A production economist focuses on assessment, and will use an aggregate description of technology to answer such questions as: How does the firm compare to its competitors? Has the firm improved its production capabilities? A production engineer focuses on optimizing resources, and will use a detailed description of technology to answer a completely different set of questions: Which operations or plants should produce which products at what time? Should resource capacity be expanded and, if so, which resources should be acquired? Each group could benefit from the other group's perspective. This book offers a unified, integrated point of view that bridges the gap between these two historically distinct perspectives.
Microeconomics. --- Production (Economic theory) --- Price theory --- Economics --- Microeconomics --- Supply and demand --- Demand (Economic theory) --- Supply-side economics --- Production management. --- Industrial engineering. --- Operations research. --- Operations Management. --- Industrial and Production Engineering. --- Operations Research/Decision Theory. --- Operational analysis --- Operational research --- Industrial engineering --- Management science --- Research --- System theory --- Management engineering --- Simplification in industry --- Engineering --- Value analysis (Cost control) --- Manufacturing management --- Industrial management --- Economics. --- Production engineering. --- Decision making. --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management --- Management decisions --- Choice (Psychology) --- Problem solving --- Manufacturing engineering --- Process engineering --- Mechanical engineering --- Decision making --- micro-economie --- mathematische modellen, toegepast op economie --- operations research --- stochastische modellen --- productiviteit --- kosten-batenanalyse --- performance measurement --- productmanagement
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The paradigm of deterministic chaos has influenced thinking in many fields of science. Chaotic systems show rich and surprising mathematical structures. In the applied sciences, deterministic chaos provides a striking explanation for irregular behaviour and anomalies in systems which do not seem to be inherently stochastic. The most direct link between chaos theory and the real world is the analysis of time series from real systems in terms of nonlinear dynamics. Experimental technique and data analysis have seen such dramatic progress that, by now, most fundamental properties of nonlinear dynamical systems have been observed in the laboratory. Great efforts are being made to exploit ideas from chaos theory wherever the data displays more structure than can be captured by traditional methods. Problems of this kind are typical in biology and physiology but also in geophysics, economics, and many other sciences.
Time-series analysis. --- Nonlinear theories. --- Analysis of time series --- Autocorrelation (Statistics) --- Harmonic analysis --- Mathematical statistics --- Probabilities --- Nonlinear problems --- Nonlinearity (Mathematics) --- Calculus --- Mathematical analysis --- Mathematical physics --- Nonlinear theories --- Time-series analysis --- 519.246 --- 519.246 Statistics of stochastic processes. Estimation of stochastic processes. Hypothesis testing. Statistics of point processes. Time series analysis. Auto-correlation. Regression --- Statistics of stochastic processes. Estimation of stochastic processes. Hypothesis testing. Statistics of point processes. Time series analysis. Auto-correlation. Regression --- lineaire programmering --- mathematische modellen, toegepast op economie --- tijdreeksanalyse --- Série chronologique --- Théories non linéaires
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• The book introduces the key ideas behind practical nonlinear optimization. • Computational finance—an increasingly popular area of mathematics degree programmes—is combined here with the study of an important class of numerical techniques. • The financial content of the book is designed to be relevant and interesting to specialists. However, this material—which occupies about one-third of the text—is also sufficiently accessible to allow the book to be used on optimization courses of a more general nature. • The essentials of most currently popular algorithms are described and their performance is demonstrated on a range of optimization problems arising in financial mathematics. • Theoretical convergence properties of methods are stated and formal proofs are provided in enough cases to be instructive rather than overwhelming. • Practical behaviour of methods is illustrated by computational examples and discussions of efficiency, accuracy and computational costs. • Supporting software for the examples and exercises is available (but the text does not require the reader to use or understand these particular codes). • The author has been active in optimization for over thirty years in algorithm development and application and in teaching and research supervision. Audience The book is aimed at lecturers and students (undergraduate and postgraduate) in mathematics, computational finance and related subjects. It is also useful for researchers and practitioners who need a good introduction to nonlinear optimization.
Nonlinear programming. --- Mathematical optimization. --- Optimization (Mathematics) --- Optimization techniques --- Optimization theory --- Systems optimization --- Mathematical analysis --- Maxima and minima --- Operations research --- Simulation methods --- System analysis --- Programming (Mathematics) --- Electronic data processing. --- Computer science --- Finance. --- Numerical analysis. --- Optimization. --- Operations Research, Management Science. --- Numeric Computing. --- Computational Mathematics and Numerical Analysis. --- Finance, general. --- Numerical Analysis. --- Mathematics. --- Funding --- Funds --- Economics --- Currency question --- Computer mathematics --- Discrete mathematics --- Electronic data processing --- ADP (Data processing) --- Automatic data processing --- Data processing --- EDP (Data processing) --- IDP (Data processing) --- Integrated data processing --- Computers --- Office practice --- Mathematics --- Automation --- Mathematical optimization --- Nonlinear programming --- Optimisation mathematique --- Programmation non lineaire --- dataverwerking --- lineaire programmering --- mathematische modellen, toegepast op economie --- portfoliobeheer --- Operations research. --- Management science. --- Computer mathematics. --- Quantitative business analysis --- Management --- Problem solving --- Statistical decision --- Operational analysis --- Operational research --- Industrial engineering --- Management science --- Research --- System theory --- Operations Research, Management Science . --- Financial Economics. --- Data processing.
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This is an undergraduate textbook on the basic aspects of personal savings and investing with a balanced mix of mathematical rigor and economic intuition. It uses routine financial calculations as the motivation and basis for tools of elementary real analysis rather than taking the latter as given. Proofs using induction, recurrence relations and proofs by contradiction are covered. Inequalities such as the Arithmetic-Geometric Mean Inequality and the Cauchy-Schwarz Inequality are used. Basic topics in probability and statistics are presented. The student is introduced to elements of saving and investing that are of life-long practical use. These include savings and checking accounts, certificates of deposit, student loans, credit cards, mortgages, buying and selling bonds, and buying and selling stocks. The book is self contained and accessible. The authors follow a systematic pattern for each chapter including a variety of examples and exercises ensuring that the student deals with realities, rather than theoretical idealizations. It is suitable for courses in mathematics, investing, banking, financial engineering, and related topics.
Investments --- Saving and investment --- Mathematical models. --- Money market. Capital market --- Actuarial mathematics --- Finance. --- Business. --- Macroeconomics. --- Quantitative Finance. --- Business and Management, general. --- Macroeconomics/Monetary Economics//Financial Economics. --- Economics --- Trade --- Management --- Commerce --- Industrial management --- Funding --- Funds --- Currency question --- 339.43 --- aandelen --- aandelenhandel --- betaalmiddelen --- financiën, internationaal --- inflatie --- interest --- mathematische modellen, toegepast op economie --- opties --- 305.7 --- 305.91 --- AA / International- internationaal --- 330.105 --- 336.1 --- 51 --- 330.105 Wiskundige economie. Wiskundige methoden in de economie --- Wiskundige economie. Wiskundige methoden in de economie --- 51 Mathematics --- Mathematics --- Mathematical models --- Econometrie van het gedrag van de financiële tussenpersonen. Monetaire econometrische modellen. Monetaire agregaten. vraag voor geld. Krediet. Rente --- Econometrie van de financiële activa. Portfolio allocation en management. CAPM. Bubbles --- Internationale financien. Buitenlands betalingsverkeer --(z.o {336}) --- 51 Wiskunde. Mathematiek --- Wiskunde. Mathematiek --- Economics, Mathematical . --- Management science. --- Quantitative business analysis --- Problem solving --- Operations research --- Statistical decision --- Mathematical economics --- Econometrics --- Methodology
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