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Using closed-end investment trusts as subject-matter, this paper explores this question: Are some portfolio managers “really” better than others? i.e., are there differences in performance among managers other than those differences due to chance? It also throws some light on whether...
Critique of the paper Simon, Julian L. 1969. Does “Good portfolio management” exist? Management Sci. 15 (6, February) B-308–B319. In this paper, the author has considered an interesting subject with results, however, that are admittedly inconclusive or even inconsistent. Unfortunately, the...
—Editorial by Chi-Yuen Wu, Public Administration Division, United Nations, New York City
Book Reviews —Raiffa, Howard, Decision Analysis: Introductory Lectures on Choices Under Uncertainty . Reading, Mass.: Addison-Wesley Publishing Co., 1968, 309 pp,, paperback $4.95; —Johnsen, Erik, Studies in Multiobjective Decision Models . Lund: Studentlitteratur, 1968, 628 pp; —Page,...
The authors present a framework for the analysis of models which have been designed for, or used in, urban physical and economic planning. The models have been distinguished by their basic characteristics, rather than on the basis of their applications. Four basic characteristics are identified:...
Details are given of a chemical plant consisting of four machines, each capable of producing one of several products at a time. Five products are to be produced, each subject to a normal demand distribution with known parameters. The rates of production, costs, profit margins, setup times and...
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