Constructing Scalar-Valued Objective Functions: Proceedings of the Third International Conference on Econometric Decision Models: Constructing Scalar- [Paperback]

For several decades, scholars have developed methods for solving optimization problems which emerge in economics, econometrics, operations research, and other disciplines. A considerable effort has been made to construct equations from which constraints can be derived, but surprisingly little has been done to construct the other part of optimization models: the scalar-valued objective function, the constrained maximum or minimum of which gives the optimal solution. The given volume is intended to attract attention to the problem, to present the major achievements in the field and to stimulate further research and teaching.I Opening addresses.- to the Third International Conference on Econometric Decision Models: Constructing Scalar-Valued Objective Functions.- Methodological Remarks on Objective Functions.- II Keynote address.- On the Preferences Characterization of Additively Separable Utility.- III Axiomatic foundations.- An Axiomatic Justification of Scalar Optimization.- Rational Choice Under Convex Conditions.- Additive Utility Without Solvability on All Components.- IV Collective objective functions.- Intransitive Preference Relations and Preference Differences.- Constructing an Objective Function for Aggregating Incomplete Preferences.- Lexicographical Maxmin Core Solutions for Cooperative Games.- Game Theoretic Axioms for Utilities with Random Choices.- V Practical construction of objective functions.- A Bounding Procedure for Expected Multiattribute Utility.- Constructing Quadratic and Polynomial Objective Functions.- Quadratic Objective Functions from Ordinal Data: Towards Reliable Representations of Policy Makers Preferences.- Practical Implementation of a Survey for Estimating Quadratic Objective Functions.- Towards Constructing an Objective Function for Austrian Fiscal Policy-Making: An Optimum Control Approach.- Game Theoretic Model for Constructing Linear Objective Functions.- VI Welfare functions and consumer demand.- Integrability Conditions, Incomlã9