Gordon Macdonald

Avoiding a Lemons Market by Including Uncertainty in the Kyoto Protocol: Same Mechanism - Improved Rules (2000)

Michael Obersteiner, Yuri Ermoliev, Michael Gluck, Matthias Jonas, Sten Nilsson, Anatoly Shvidenko, ...

In its current form the Kyoto Protocol does not consider the issue of uncertainty in the process of mutual recognition of emission reductions between Parties. We argue that a lack of appropriate...

Finding Pareto Optimal Insurance Contracts (2000)

Gordon Macdonald

This note deals with on-line computation or learning of Pareto optimal insurance contracts. We account for the fact that the loss distribution often is unknown, unavailable, or intractable....

Dynamic Model of Market of Patents and Equilibria in Technology Stocks (2000)

Technology Stocks, Arkadii Kryazhimskii, Gordon Macdonald

The paper presents a dynamic model of trading on market of patents. It is assumed that each firm participating in market produces its own technologies, whereas its manufacturing sector utilizes both...

Strategic Implications of eCommerce for Papermakers (2000)

Michael Obersteiner, Sten Nilsson, Gordon Macdonald

It is expected that the paper and office products supply chain will move online in the very near future. The hubris of new eBusiness models has ended in a fragmented picture of a multitude of...

Dynamic Model of Innovation: Optimal Investment, Optimal Timing, Market Competition (2000)

Alexander Tarasyev, Gordon Macdonald

A dynamic model of investment process for a technology innovator in a market environment is designed. The "light" dynamics of the active innovator is described by the system of exponential...

Interim Report IR-99-057/November Demographic Trends and Household Saving in China (1999)

Masayo Wakabayashi, Landis Mackellar, Gordon Macdonald

A key source of economic growth in China has been the abundance of household savings, especially in rural regions. In this paper, we estimate saving functions for urban and rural areas of China,...

Demographic Trends and Household Saving in China (1999)

Masayo Wakabayashi, Landis Mackellar, Gordon Macdonald

A key source of economic growth in China has been the abundance of household savings, especially in rural regions. In this paper, we estimate saving functions for urban and rural areas of China,...

How Sustainable Are North American Wood Supplies? (1999)

North American, Sten Nilsson, Ralph Colberg, Robert Hagler, Peter Woodbridge, Gordon Macdonald

This paper analyzes the current wood supply estimates for North America. The result of the analysis casts doubts whether the North American supplies are sustainable. It is obvious that current...

Optimal Control of RD Investment in a Techno-Metabolic System (1999)

Alexander Tarasyev, Gordon Macdonald

The nonlinear model of economic growth involving production, technology stock and their rates is considered. Two trends - growth and decline, in interaction between production and R&D investment are...

Value Efficiency Analysis of Academic Research (1999)

Pekka Korhonen, Risto Tainio, Jyrki Wallenius, Gordon Macdonald

We propose a systematic approach to analyzing academic research performance at universities and research institutes. The analysis of research performance is based on a set of (abstract) criteria...

Restricting Weights in Value Efficiency Analysis (1998)

Gordon Macdonald

In this paper, we consider the problem of incorporating additional preference information into Value Efficiency Analysis by using the "price" information of inputs and outputs. This is done to...

A COMPARATIVE ANALYSIS OF INDIVIDUAL AND SYSTEM PERFORMANCE INDICES FOR THE AIR TRAFFIC CONTROL SYSTEM. (1998)

Buckley,Edward P., O'Connor,William F., Beebe,Tom, Adams,William, MacDonald,Gordon

A simulation study was conducted to examine the relationships of several field facility air traffic controller performance indices with simulation--developed system performance measures. Thirty six...

Guaranteed Optimization in Insurance of Catastrophic Risks (1998)

Boris V. Digas, Yuri M. Ermoliev, Arkadii V. Kryazhimskii, Gordon Macdonald

The proposed approach to the insurance of regionally distributed property against high risk catastrophes is based on finding statistically robust coverages of the insurance companies. Such coverages...

Normal Behavior, Altruism and Aggression in Cooperative Game Dynamics (1998)

Gordon Macdonald

The paper introduces a local cooperation pattern for repeated bimatrix games: the players choose a mutually acceptable strategy pair in every next round. A mutually acceptable strategy pair provides...

On the Design of Catastrophic Risk Portfolios (1998)

Yuri M. Ermoliev, Tatiana Y. Ermolieva, Vladimir I. Norkin, Gordon Macdonald

Catastrophes produce rare and highly correlated insurance claims, which depend on the amount of coverage at di#erent locations. A joint probability distribution of these claims is analytically...

Value Efficiency Analysis for Incorporating Preference. . . (1998)

Merja Halme, Tarja Joro, Jyrki Wallenius, Gordon Macdonald

We develop a procedure and the requisite theory for incorporating preference information in a novel way in the efficiency analysis of Decision Making Units. The efficiency of Decision Making Units is...

Practical Aspects of Value Efficiency Analysis (1998)

Gordon Macdonald

In this paper, we consider practical aspects for measuring Value Efficiency in Data Envelopment Analysis. Value efficiency is an efficiency concept that takes into account the decision maker's...

Demand Dynamics With Socially Evolving Preferences (1998)

Giovanni Dosi, Giorgio Fagiolo, Mara Meacci, Gordon Macdonald, Roberta Aversi

this paper witnessed at a seminar the horror of most colleagues when Werner Hildebrand, presenting some further development on his theory of demand (Hildebrand (1994)) provocatively suggested more or...

Multiple Objective Programming Support (1998)

Pekka Korhonen, Gordon Macdonald

This paper gives a brief introduction into multiple objective programming support. We will overview basic concepts, formulations, and principles of solving multiple objective programming problems. To...

Searching Market Equilibria under Uncertain Utilities (1998)

A. Kryazhimskii, A. Nentjes, S. Shibayev, A. Tarasyev, Gordon Macdonald

Our basic model is a noncooperative multi-player game in which the governments of neighboring countries trade emission reductions. We prove the existence of a market equilibrium (combining properties...

Equilibrium and Guaranteeing Solutions in Evolutionary Nonzero Sum Games (1998)

Gordon Macdonald

Advanced methods of theory of optimal guaranteeing control and techniques of generalized (viscosity, minimax) solutions of Hamilton-Jacobi equations are applied to nonzero sum game interaction...

Search the Efficient Frontier in Data Envelopment Analysis (1997)

Pekka Korhonen, Gordon Macdonald

In this paper, we deal with the problem of searching the efficient frontier in Data Envelopment Analysis (DEA). Our aim is to show that the free search approach developed to make a search on the...

Catastrophic Risk Evaluation (1997)

Love Ekenberg, Magnus Boman, Joanne Linnerooth-bayer, Gordon Macdonald

A body of empirical evidence has shown that many managers would welcome new ways of highlighting catastrophic consequences, as well as means to evaluating decision situations involving high risks....

Spatial Stochastik Model for Optimization Capacity of Insurance Networks under . . . (1997)

Tatiana Y. Ermolieva, Yuri M. Ermoliev, Vladimir I. Norkin, Gordon Macdonald

The paper proposes a general framework for the optimization capacity of an insurance industry in responding to catastrophic risks. Explicit geographical representation allows for sufficient...

Quadratic Pareto Race (1997)

Pekka Korhonen, Guangyuan Yu, Gordon Macdonald

This paper presents a dynamic and visual "free-search" type of a decision support system - Quadratic Pareto Race, which enables a decision maker (DM) to freely search any part of the efficient...

Learning in Potential Games (1997)

Yuri M. Ermoliev, Gordon Macdonald

We consider repeated play of so-called potential games. Numerous modes of play are shown to yield Nash equilibrium in the long run. We point to procedures that can account for society-wide...

On Mutual Insurance (1970)

Yuri M. Ermoliev, Gordon Macdonald

Owners of stochastic assets can pool their endowments to smoothen and insure individual payo#s across outcomes and time. We explore, in such a setting, how contingent shadow prices on aggregate...