A goal programming-constrained regression review of the Bell System breakup
Article Abstract:
Goal programming and constrained regression methodologies are applied to empirical data collected during the breakup of the Bell System. The results of these methodologies reverse the findings of previous studies conducted with econometric methods. The studies that had used econometric methods reported that the evidence failed to support the contention that the Bell System was a natural monopoly. Given the important policy implications of the Bell System breakup, similar studies that are performed in the future should be conducted by people from different disciplines who have the ability to check each other's methodologies. A 12-page rejoinder by David S. Evans and James J. Heckman follows the article.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1988
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A reduction method applicable to compound option formulas
Article Abstract:
A general reduction formula for multivariate normal integrals based on Curnow and Dunnett's (1962) work is developed. The formula is found to successfully reduce the cost of computing high dimension integrals, and to simplify the evaluation of the integral derivatives with respect to the upper limits of integration. The formula can be used in option pricing and Geske's (1977) risky coupon bond pricing model.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1989
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