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International market selection using advanced data envelopment analysis (2011)

Farzipoor Saen, R.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: Selecting the best markets from a large number of different markets with varying levels of capability and potential is a complicated and time-consuming task requiring multiple criteria decision-making solution approaches. One of the uses of data envelopment analysis (DEA) is market selection. This paper proposes a new model for selecting the best markets. The proposed model is based on DEA and considers dual-role factors, weight restrictions and imprecise data, simultaneously. This paper is the first study that applies advanced DEA models for selecting markets. The illustrative application addresses applicability of the proposed model.

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Productivity change of coal-fired thermal power plants in India: a Malmquist index approach (2011)

Behera, S. K., Farooquie, J. A., Dash, A. P.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: Coal-based power plants in India account for about 53% of installed capacity and contribute to more than 60% of electricity generation. Making use of data envelopment analysis and the Malmquist productivity index, this study analyses the productivity change of these plants during the period 2003–2008. The productivity change is further decomposed into technical efficiency change, technological change and scale efficiency change. The impact on productivity of capacity addition and scrapping obsolete power-generating modules is examined. It is found that the sector recorded an average annual total factor productivity (TFP) growth of 1.2% during the period. The plants located in eastern and southern regions have achieved maximum annual growth of 2.2% and 2.0%, respectively. Plants in the central sector achieved maximum growth of 4.2% annually. It is also found that the impact of capacity addition resulted in reduced TFP growth. This study identifies the plants whose productivity changes have been progressive and regressive; such identification can guide suitable managerial intervention to improve productivity.

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The nexus between financial sector consolidation, competition and efficiency: empirical evidence from the malaysian banking sector (2011)

Sufian, F.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: By employing data on 337 bank-year observations, the paper examines the impact of consolidation on efficiency and competition in the Malaysian banking sector during 1996–2008. We employ the Panzar-Rosse (P-R) H -statistic method to evaluate the degree of competition, while Data Envelopment Analysis (DEA) is employed to compute the efficiency of individual banks. The empirical findings from the DEA suggest that the Malaysian banking sector has been relatively inefficient in their intermediation function during the post-merger period. On the other hand, we find that the Malaysian banking sector has been relatively more efficient during the post-merger period under the revenue approach. The test of market contestability by using the P-R method seems to reject both monopoly and perfect market competition conditions indicating monopolistic market behaviours among banks operating in the Malaysian banking sector.

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The problem with integer programming (2011)

Williams, H. P.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: Integer programming (IP), also known as discrete optimization, is a way of modelling a very wide range of problems involving indivisibilities (e.g. yes/no investment decisions) and non-convexities (e.g. economies of scale and fixed cost allocation). Such problems arise in many areas; these are mentioned in the paper. However, IP demands ingenuity in both building models and in their solution. Much is still not properly understood. This paper investigates the question: ‘Is IP like Linear Programming (LP)? ’ The mathematical and economic properties of IP will be contrasted with LP. It will be suggested that the mathematics and economics of IP are still not properly understood. Many of the results which apply to LP do not apply to IP. It will be asserted that this lack of understanding reveals inadequacies in both the mathematics and economics.

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A model of equilibrium in markets of cash balances (2011)

Mierzejewski, F.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: A model is presented to characterize the equilibrium in markets of short-term loans. First, the cash demand is characterized as the optimal balance maintained to avoid the losses produced by some portfolio with random payoffs. This problem is formulated in actuarial terms in such a way that the optimal balance is expressed as the quantile function of the probability distribution describing the underlying risk (i.e. the value-at-risk). An expression is then obtained for the semi-elasticity of the demand for balances with respect to the interest rate. The effects of credit and investment flows over the equilibrium can be precisely described on these grounds. In the particular case, when the series of price returns of the underlying portfolio is described by a Gaussian probability distribution, episodes of liquidity crises can be corresponded to specific combinations of the risk parameters and the level of the interest rate. Theoretical evidence is thus given of these phenomena.

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Interactive shrinkage methods for class handicapping (2011)

Percy, D. F.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: A recent publication identified weaknesses with the current handicapping system for disabled Alpine skiing, suggested minor improvements and tentatively proposed an alternative system. This proposal uses shrinkage methods to allow for varying class sizes and race conditions, unlike the existing system that updates historical factors prior to competition. We now recommend a slightly modified form of this proposal for generic application to any sports that involve class handicapping. Our recommendation is based on an investigation into possible uses of this system in a variety of sports, accompanied by extensive analysis of designed experiments and racing data from the 2008 World Cup competition for disabled Alpine skiing. The main disadvantage of this approach is that final scoring times cannot be computed until after all racing is complete and we address this concern by developing interactive result projections that retain the essential excitement of anticipation.

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A partial differential equation system for modelling stochastic storage in physical systems with applications to wind power generation (2011)

Howell, S. D., Duck, P. W., Hazel, A., Johnson, P. V., Pinto, H., Strbac, G., Proudlove, N., Black, M.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: Analytic solutions exist only for highly idealized simple problems in stochastic storage; while simulation is available for complex problems, it is generally impractically slow. In this paper, a system of partial differential equations (PDEs), based on a novel combination of the techniques used to value options in finance, is developed and shown to efficiently value stochastic storage. The PDE system requires somewhat non-standard (but well-defined) numerical solution methods, which are up to nine orders of magnitude faster than simulation (and yet yields the same results). These faster calculations should permit better analysis of system design and operating procedures (including optimization) for a large set of problems in physical and financial stochastic storage. The motivation for this work is in the management of significant amounts of wind-generated electricity into a power system, in particular by smoothing out random fluctuations in supply.

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Relative profitability and stock market performance of listed commercial banks on the Athens Exchange: a non-parametric approach (2011)

Tsolas, I. E.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: The purpose of this paper is to evaluate the performance of a sample of thirteen commercial banks listed on the Athens Exchange by applying a two-step procedure. In the first step, data envelopment analysis (DEA) is used to model performance in two dimensions: profitability efficiency and efficiency in market value generation. In the second step, a tobit model is bootstrapped in order to identify the drivers of performance. The contribution of this paper to the literature is twofold: to improve on the existing methods employing a new variant of DEA profitability approach by using burden as an (undesirable) output variable in modelling profitability efficiency and to better explain (from a computational statistics perspective) DEA efficiency levels inboth dimensions examined by employing a bootstrapped tobit model. Performance inefficiency is uncovered in both dimensions, but the real problem of inefficiency of the sampled banks is the lower level of performance in market value generation, rather than profitability. Results do not point out positive links between profitability efficiency and performance in the stock market. Relatively large banks exhibit better performance on profitability; most of them reached their optimum size scale, whereas they tend to have the worst performance with respect to the stock market. Some smaller banks seem to have some prospects in market value generation, while performance in the stock market can be explained by cost to income ratio.

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The covariance sign of transformed random variables with applications to economics and finance (2011)

Egozcue, M., Garcia, L. F., Wong, W.-K., Zitikis, R.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: A number of problems in economics, finance and insurance rely on determining the sign of the covariance of two transformations of a random variable. The classical Chebyshev's inequality offers a powerful tool for solving the problem, but it assumes that the transformations are monotonic, which is not always the case in applications. For this reason, in the present paper, we establish new results for determining the covariance sign and provide further insights into the area. Unlike many previous works, our method of analysis, which is probabilistic in its nature, does not rely on the classical Höffding's representation of the covariance or on any of its numerous extensions and generalizations. We motivate our research with several problems arising in economics, finance and insurance.

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Dynamic Bayesian forecasting models of football match outcomes with estimation of the evolution variance parameter (2011)

Owen, A.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: Statistical models of football (soccer) match outcomes have potential applications to areas such as the development of team rankings and football betting markets. Much of the published work in this context has typically focused on the use of generalized linear models, which are non-dynamic in the sense that the parameters in the model, which often represent the underlying abilities of each team, are assumed to remain constant over time. Dynamic generalized linear models (DGLMs) on the other hand allow the abilities of each team to vary over time. This paper illustrates the application of a DGLM in the context of football match outcome prediction and describes improvements on similar work previously presented by the author, in relation to the estimation of a parameter in the model, referred to as the evolution variance, which is crucial in terms of optimizing the predictive performance of these types of models. Match results data from the Scottish Premier League from 2003/2004 to 2005/2006 are used to show that the DGLM approach provides improved predictive probabilities of future match outcomes compared to the non-dynamic form of the model. DGLMs are also Bayesian in terms of their structure and so a Bayesian approach to parameter estimation is required. This paper therefore illustrates a practical implementation of the DGLM model that can easily be deployed using the freely available software WinBUGS.

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Measuring efficiency of Brazilian courts with data envelopment analysis (DEA) (2011)

Yeung, L. L., Azevedo, P. F.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: In Brazilian law, there may be nothing as uncontroversial as the idea that courts are slow, inefficient and unable to attend to citizens’ demand. Court inefficiency has been well acknowledged for many decades. Yet, the crucial question "How bad are they? " has never been answered. For many different reasons, almost all legal research carried out in Brazil has been subjective, relying entirely on conventional wisdom and anecdoctal evidence. The purpose of this paper is to try to address the lack of empirical research on the performance of the Brazilian judiciary. We employ data envelopment analysis to measure the efficiency of Brazilian state courts. Results show that relative efficiency varies substantially across the 27 state courts in the country. Moreover, we will also argue that the lack of human and material resources cannot be blamed as the main reason for inefficiency, as it is traditionally believed. Finally, there seems to be some evidence that court efficiency is correlated with the performance of court management. In other words, efficient courts are those that exhibit better management.

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A recurrent-events survival analysis of the duration of Olympic records (2011)

Gutierrez, E., Lozano, S., Gonzalez, J. R.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: One of the main motivations for participants in high-level sports competitions is setting records. This paper explores the duration of athletic events records since the Modern Olympic Games have been held. Due to the lack of independence between the duration of these records, the use of traditional survival analysis was ruled out and a novel approach for recurrent events was used. No significant differences have been found either between the duration of records of men's and women's events or between individual and team events. There seem to be differences in the duration of records in some specific categories like track and field events. Both the gap between the Olympic record and the contemporaneous world record and the amount that the Olympic record improves increase the risk of the records being broken. The results obtained confirm that the model may reduce the uncertainty about the number of records expected in the next Olympic Games.

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A note on solving the EOQ model with imperfect quality subject to in-house inspection (2011)

Chang, H.-C., Ho, C.-H.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: Recently, Konstantaras et al. (2007, Economic ordering policy for an item with imperfect quality subject to the in-house inspection. Int. J. Syst. Sci. , 38 , 473–482) presented an economic order quantity model with imperfect quality subject to in-house inspection. In their study, two options for handling defectives were proposed. The first option considered the defective items to be sold at a lower price and the second considered the defective items to be reworked to an acceptable quality standard to meet demand. Their inventory model is interesting and valuable, but the process for evaluating the expected profit per unit time for the first option can be improved. The main purpose of this paper is to offer an alternative approach for the model, where we apply a renewal reward theorem to calculate the expected profit per unit time and solve the model without derivatives. Numerical examples are provided to show the solution procedure.

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Cost efficiency estimations and the equity returns for the US public solar energy firms in 1990-2008 (2011)

Kuo, C.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: This paper provides a direct estimate of the cost efficiencies of firms in the US solar energy industry. It suggests that the cost efficiency in the industry is associated with the risk-bearing behaviour of firms. Less efficient firms maintain low price-cost margins and high labour–capital ratios in order to compete with their efficient peers. The study then establishes the linkage between cost efficiency and stock returns. It shows that the change in cost efficiency, rather than cost efficiency itself, possesses a stronger explanatory power for stock returns. A buy-and-hold strategy for stock portfolios of different efficiency levels is then analysed. The 3-year returns of the inefficient firm portfolios tend to outperform the efficient firm portfolios. The finding further shows that the improvement in cost efficiency of the inefficient firms is larger than that of the efficient firms. Previous literature has indicated that inefficient firms have higher failure rate, so they are forced to improve cost efficiency.

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On comparison of ratio analysis and data envelopment analysis as performance assessment tools (2011)

Krivonozhko, V. E., Piskunov, A. A., Lychev, A. V.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: In this paper, we compare ratio analysis with the data envelopment analysis approach. It is shown that using ratio analysis implies that a one multidimensional space is projected onto other subspaces many times. As a result, significant distortion of the performance assessment of units takes place. Our theoretical results are validated by computational experiments on the data taken from financial accounts of Russian banks.

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Applying quality-driven, efficiency-adjusted DEA (QE-DEA) in the pursuit of high-efficiency-high-quality service units: an input-oriented approach (2011)

Zervopoulos, P., Palaskas, T.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: The data envelopment analysis (DEA) is used extensively for estimating the comparative efficiency of operational units that employ similar production processes. Efficiency optimization, however, is not adequate by itself to ensure the successful operation of an enterprise because it is related only to the internal production process of a business unit. Therefore, the unit, to be able to achieve its goals, should take into consideration external factors, such as customer satisfaction, which reflect the quality of the services provided. In this context, the current paper strongly supports the view that synchronous assessment of both efficiency and quality is necessary. Using the quality-adjusted DEA model of Sherman & Zhu (2006a), we develop a quality-driven, efficiency-adjusted DEA model (QE-DEA) which seeks to provide a road map for a high-quality and high-efficiency operation of every service unit of the sample.

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Linear and non-linear filtering in mathematical finance: a review (2011)

Date, P., Ponomareva, K.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: This paper presents a review of time series filtering and its applications in mathematical finance. A summary of results of recent empirical studies with market data are presented for yield curve modelling and stochastic volatility modelling. The paper also outlines different approaches to filtering of non-linear time series.

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Robust fitting of football prediction models (2011)

Karlis, D., Ntzoufras, I.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: Existing methods for the prediction of the final scores in football games focus on modelling the numbers of goals scored by the two competitors with parameter estimation of the assumed model usually based on the maximum likelihood approach. Although this approach allows for sufficiently accurate prediction of the final score, it does not account for large or surprising final scores than may deteriorate parameter estimates. This is especially the case in competitions with insufficient number of games compared to the participating teams (e.g. World Cup or Champions League). In this paper, we propose a weighted likelihood approach which allows the modeller to underweight a specific football score if it is felt that the result was not typical and falsifies (in any way) the parameter estimates. The imposed game weights can be defined subjectively or by assuming a model-based structure where the parameters can be estimated by iterative algorithms. The weight structure usually reflects deviations from the assumed model. Hence, scores that have low probability under the assumed model will be underweighted. This procedure may provide robust estimates even if surprising (under the assumed model) scores are observed. Champions League data are used to demonstrate the potential of the proposed approach.

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A stochastic model of progression of athletic records (2011)

Volf, P.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: A statistical model for development of track and field records is presented. The progression of the best results of each year is fitted by a non-linear regression model with non-constant variance. On this basis, the probability of a new record occurrence as well as the distribution of a new record improvement are derived. We also discuss the problems of record prediction and the existence of ultimate records. Our application deals with the men's 100m sprint and the men's long-jump data.

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Bookmaker consensus and agreement for the UEFA Champions League 2008/2009 (2011)

Leitner, C., Zeileis, A., Hornik, K.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: Bookmakers odds are an easily available source of ‘prospective’ information that is often employed for forecasting the outcome of sports events. In order to investigate the statistical properties of bookmakers odds from a variety of bookmakers for a number of different potential outcomes of a sports event, a class of mixed-effects models is explored, providing information about both consensus and (dis)agreement across bookmakers. In an empirical study of the Union of European Football Associations Champions League, the most prestigious football club competition in Europe, model selection yields a simple and intuitive model with team-specific means for capturing consensus and team-specific standard deviations reflecting agreement across bookmakers. The resulting consensus forecast performs well in practice, exhibiting high correlation with the actual tournament outcome. Furthermore, the agreement across the bookmakers can be shown to be strongly correlated with the predicted consensus and can thus be incorporated in a more parsimonious model for agreement while preserving the same consensus fit.

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Item price information feedback in multiple unit combinatorial auctions: design issues (2011)

Iftekhar, M. S., Hailu, A., Lindner, R. K.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: Combinatorial auctions allow bidders to bid on individual items or bundles of items. This enables bidders to take advantage of the synergy or complementarity in their valuations of bundles. However, the number of bundles or packages that a bidder could explore may be large making these auctions too complex. Therefore, a combinatorial auction is often run as an iterative auction involving a series of rounds that progressively lead to a final allocation. In each intermediate round, bids are submitted and then provisional winners are determined. A key element in each round is the provision of price feedback to guide bidders in subsequent rounds. This price feedback can focus on packages or on items. Item (also known as linear) pricing feedback schemes have been widely researched for combinatorial auctions on unique items (where packages consist of one or more unique items but not multiple amounts of any item). It has been observed that such item price schemes have performed reasonably well in a wide variety of auction markets. However, they have not yet been thoroughly tested for auctions where the allocation involves multiple units of different items. In this paper, we extend several item pricing designs to the case of multiple unit combinatorial auctions. We identify a set of performance criteria by which an auctioneer could assess the suitability of a design for their particular case. We then numerically compare the algorithms using an agent-based model. Based on the results, we draw some general conclusions about the strengths and limitations of different schemes.

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Piecewise linear regression techniques to analyse the timing of head coach dismissals in Dutch soccer clubs (2011)

De Schryver, T., Eisinga, R. N.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-11-24

Description: The key question in research on dismissals of head coaches in sports clubs is not whether they should happen but when they will happen. This paper applies piecewise linear regression to advance our understanding of the timing of head coach dismissals. Essentially, the regression sacrifices degrees of freedom for increased possibilities of interpretation. In the empirical part, we show that badly performing clubs tend to wait for clear evidence before dismissing a head coach. Dutch soccer clubs only dismiss head coaches during the soccer season when a club loses a match it should not have. We also find that once the decision to dismiss the incumbent head coach has been made, clubs quickly tend to appoint a new one, possibly by attracting an interim coach.

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Models for evolving networks: with applications in telecommunication and online activities (2011)

Grindrod, P., Higham, D. J.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-12-16

Description: Driven by a range of modern applications that includes telecommunications, e-business and online social interaction, recent ideas in complex networks can be extended to the case of time-varying connectivity. Here, we propose a general framework for modelling and simulating such dynamic networks, and we explain how the long-time behaviour may reveal important information about the mechanisms underlying the evolution.

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Non-linear programs with max-linear constraints: a heuristic approach (2011)

Aminu, A., Butkovic, P.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-12-16

Description: In multiprocessor interactive systems, a number of products are prepared using simultaneously working processors, each contributing to the completion of every product. The completion times of products can be expressed in terms of the starting times of individual processors as max-linear functions. It is not difficult to find the starting times once the completion times are given. However, if two such systems work in parallel, it may be necessary to synchronize their work, i.e. to find starting times so that the products are completed at the same time. This task leads to the problem of solving two-sided max-linear systems, a problem of undecided computational complexity. If the solution set is non-trivial, then the task of finding solutions optimal with respect to a certain criterion arises. In this paper, we propose and examine a number of heuristics for solving non-linear programs with two-sided max-linear constraints and compare their performance.

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Mean-reverting discrete time market models: speculative opportunities and absence of arbitrage (2011)

Dokuchaev, N.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-12-16

Description: In this article, we study discrete time mean-reverting market models. We show that certain choices of initial conditions ensure existence of an equivalent martingale measure and absence of arbitrage for any finite time horizon. Further, it is shown that this model still allows some speculative opportunities. These opportunities cannot be expressed in the terms of arbitrage or asymptotic arbitrage. In particular, a gain can be achieved for a wide enough set of expected utilities for a strategy that does not require any hypothesis on market parameters and does not use estimation of these parameters.

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Topics: Mathematics

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On the effect of non-optimal forecasting methods on supply chain downstream demand (2011)

Ali, M. M., Boylan, J. E.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-12-16

Description: Demand information sharing is used by many organizations to counter the bullwhip effect. A stream of recent papers claims that the upstream member can mathematically infer the demand at the downstream link (downstream demand inference [DDI]) without any formal information sharing mechanism. In this paper, we investigate DDI when non-optimal forecasting methods are employed by supply chains. We show that in the case of a simple moving average forecast, the demand at the downstream link can be inferred. In the case of single exponential smoothing (SES), downstream demand cannot be inferred and thus needs to be shared. Finally, we quantify the value of sharing demand information when SES is employed.

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Topics: Mathematics

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The terminal real wealth optimization problem with index bonds: equivalence of real and nominal portfolio choices for the constant relative risk aversion utility (2011)

Zhang, A.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-12-16

Description: In this paper, we consider an investment problem where the objective is to maximize the expected utility of terminal real wealth. We demonstrate that, in the market where there exist a risk-free bond, an index bond and a stock, the problem of maximizing the expected utility of real terminal wealth can be transformed into the problem of maximizing the expected utility of nominal terminal wealth. We find that the optimal real and nominal portfolio choices of an investor with constant relative risk aversion preference are the same when the index bond is available for investment.

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28

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A production-transportation problem with piecewise linear cost structures (2011)

Shu, J., Li, Z., Zhong, W.

Oxford University Press

In: IMA Journal of Management Mathematics

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Publication Date: 2011-12-16

Description: In this paper, we study a multistage production–transportation problem for a make-to-order company with outsourcing options at each stage of production. We formulate the problem as a multi-commodity network flow problem with piecewise linear cost structures by assuming the less-than-truckload transportation mode and non-linear production cost structure. We use polymatroid inequalities to strengthen its linear programming relaxation and present a cutting plane approach to tackle it. The computational results show that the strong formulation gives a tight lower bound and the cutting plane approach can solve the problem efficiently.

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Topics: Mathematics

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29

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The nexus between financial sector consolidation, competition and efficiency: empirical evidence from the malaysian banking sector (2011)

Sufian, F.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 22(4): 419-444. Published 2011 Sep 13. doi: 10.1093/imaman/dpr015.

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Publication Date: 2011-09-13

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Topics: Mathematics

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30

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A production-transportation problem with piecewise linear cost structures (2011)

Shu, J. ; Li, Z. ; Zhong, W.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(1): 67-79. Published 2011 Jan 11. doi: 10.1093/imaman/dpq021.

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Publication Date: 2011-01-11

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Topics: Mathematics

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31

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Dynamic Bayesian forecasting models of football match outcomes with estimation of the evolution variance parameter (2011)

Owen, A.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 22(2): 99-113. Published 2011 Jan 20. doi: 10.1093/imaman/dpq018.

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Publication Date: 2011-01-20

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Topics: Mathematics

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32

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Non-linear programs with max-linear constraints: a heuristic approach (2011)

Aminu, A. ; Butkovic, P.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(1): 41-66. Published 2011 Jan 14. doi: 10.1093/imaman/dpq020.

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Publication Date: 2011-01-14

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Topics: Mathematics

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33

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Models for evolving networks: with applications in telecommunication and online activities (2011)

Grindrod, P. ; Higham, D. J.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(1): 1-15. Published 2011 Feb 14. doi: 10.1093/imaman/dpr001.

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Publication Date: 2011-02-14

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34

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Computing the expected value of a concave, piecewise affine bivariate function for the gamma distribution (2011)

Lamond, B. F. ; Lang, P.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(3): 209-225. Published 2011 Jul 01. doi: 10.1093/imaman/dpr010.

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Publication Date: 2011-07-01

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35

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Managing research quality: critical mass and optimal academic research group size (2011)

Kenna, R. ; B.Berche,

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(2): 195-207. Published 2011 Dec 26. doi: 10.1093/imaman/dpr021.

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Publication Date: 2011-12-26

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Topics: Mathematics

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36

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Maximum-loss, minimum-win and the Esscher pricing principle (2011)

Kovacevic, R. M.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(4): 325-339. Published 2011 Oct 21. doi: 10.1093/imaman/dpr019.

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Publication Date: 2011-10-21

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The optimal liquidity principle and the aggregate money demand (2011)

Mierzejewski, F.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(3): 241-264. Published 2011 Oct 11. doi: 10.1093/imaman/dpr016.

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Publication Date: 2011-10-11

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38

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Coordination of advertising in supply chain management with cooperating manufacturer and retailers (2011)

Ghadimi, S. ; Szidarovszky, F. ; Farahani, R. Z. ; [et al.]

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 24(1): 1-19. Published 2011 Dec 26. doi: 10.1093/imaman/dpr022.

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Publication Date: 2011-12-26

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39

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Optimization of forecourt fuel pricing (2011)

McCaffrey, D. ; Jenkins, B. ; Liptrot, T.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(3): 265-281. Published 2011 Sep 27. doi: 10.1093/imaman/dpr017.

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40

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Two methods for optimal investment with trading strategies of finite variation (2011)

Gashi, B. ; Date, P.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(2): 171-193. Published 2011 Jun 07. doi: 10.1093/imaman/dpr009.

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Publication Date: 2011-06-07

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41

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Applying quality-driven, efficiency-adjusted DEA (QE-DEA) in the pursuit of high-efficiency-high-quality service units: an input-oriented approach (2011)

Zervopoulos, P. ; Palaskas, T.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 22(4): 401-417. Published 2011 Sep 13. doi: 10.1093/imaman/dpr014.

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42

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Productivity change of coal-fired thermal power plants in India: a Malmquist index approach (2011)

Behera, S. K. ; Farooquie, J. A. ; Dash, A. P.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 22(4): 387-400. Published 2011 Jul 29. doi: 10.1093/imaman/dpr013.

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Publication Date: 2011-07-29

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43

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Markovian regime-switching market completion using additional Markov jump assets (2011)

Zhang, X. ; Elliott, R. J. ; Siu, T. K. ; [et al.]

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(3): 283-305. Published 2011 Oct 21. doi: 10.1093/imaman/dpr018.

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Publication Date: 2011-10-21

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44

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Measuring efficiency of Brazilian courts with data envelopment analysis (DEA) (2011)

Yeung, L. L. ; Azevedo, P. F.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 22(4): 343-356. Published 2011 Mar 25. doi: 10.1093/imaman/dpr002.

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Publication Date: 2011-03-25

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45

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On comparison of ratio analysis and data envelopment analysis as performance assessment tools (2011)

Krivonozhko, V. E. ; Piskunov, A. A. ; Lychev, A. V.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 22(4): 357-370. Published 2011 Mar 23. doi: 10.1093/imaman/dpr003.

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Publication Date: 2011-03-23

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46

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A modified structural model for credit risk (2011)

Liang, G. ; Jiang, L.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(2): 147-170. Published 2011 Apr 28. doi: 10.1093/imaman/dpr004.

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47

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Using a mathematical model to assist with the management of paediatric heart transplant waiting lists: a case study (2011)

Crowe, S. ; Pagel, C. ; Bull, K. ; [et al.]

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(2): 99-116. Published 2011 May 12. doi: 10.1093/imaman/dpr006.

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Publication Date: 2011-05-12

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48

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On the effect of non-optimal forecasting methods on supply chain downstream demand (2011)

Ali, M. M. ; Boylan, J. E.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(1): 81-98. Published 2011 Mar 25. doi: 10.1093/imaman/dpr005.

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49

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International market selection using advanced data envelopment analysis (2011)

Farzipoor Saen, R.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 22(4): 371-386. Published 2011 Jun 14. doi: 10.1093/imaman/dpr011.

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Publication Date: 2011-06-14

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50

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Which is the appropriate triangular distribution to employ in the modified analytic hierarchy process? (2011)

Cox, M. A. A.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(3): 227-239. Published 2011 Jun 20. doi: 10.1093/imaman/dpr012.

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Publication Date: 2011-06-20

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51

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Performance assessment using mixed effects models: a case study on coronary patient care (2011)

Grieco, N. ; Ieva, F. ; Paganoni, A. M.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(2): 117-131. Published 2011 May 27. doi: 10.1093/imaman/dpr007.

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Publication Date: 2011-05-27

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52

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Investigating the efficiency of fitting Coxian phase-type distributions to health care data (2011)

Payne, K. ; Marshall, A. H. ; Cairns, K. J.

Oxford University Press

In: IMA Journal of Management Mathematics. 2011; 23(2): 133-145. Published 2011 May 12. doi: 10.1093/imaman/dpr008.

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Publication Date: 2011-05-12

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