Many important class of economic problems find their mathematical models in linear programs with variables taking only one of the values, zero or one. The major difficulty with these models is that the time required to ...

This working paper reports an investigation into the decision making process of individual faced with a set of risky investment opportunities. An experiment was conducted on a set of students and the data generated from ...

At a time of runaway inflation, when nothing seems to contain the pace of its gallop, it might be pertinent to look around for an investment which may shield the value of the investor's money against the devaluing onslaught ...

Theoretical models in finance are many a time based on unrealistic assumptions about the behaviour of individuals. Empirical validation of the models is expected to vindicate the assumptions. However, in most situations, ...

This paper examines the empirical validity of stochastic dominance rules and the mean-variance framework by analysing data generated through an experiment on individual investment decisions under uncertainty. The analyses ...

The Capital Asset Pricing Model is a single period model which specifies a linear relationship between return on an asset and return on the entire market. The model is widely used in literature as if a portfolio of securities ...

The shares of a closed-end Mutual Fund may be regarded as derived securities because their value depends entirely on the prices of securities that comprise the fund portfolio. Therefore, the Net Asset Value (NAV) of ...

Most organisations operate staff mess or canteen facility for its employees where payments for food items are made with money coupons rather than cash. In such coupon-based transaction system, the anagement needs to decide ...

The paper presents application of Markov Chains to management of leasing. The paper demonstrates that, despite low percentage of bad debts, there could be a significant reduction in the returns earned by a lessor because ...

The financial services industry in the Indian economy is undergoing a sea change. One major change that has taken place in the last few years is the establishment of a large number of mutual funds. It is widely recognized ...