Endogenizing government policy variables and synthesizing quantitative economic policy modeling and rational expectations hypothesis

The theory of quantitative economic policy (QEP) rationalizes the public policy process. It assumes all people, those in the private and in the public sectors, are rational, informed, and goal oriented. The QEP fails to account for effects of people\u27s expectations of public policy choices upon their behavior. The rational expectations hypothesis (REH) assumes that economic agents in both public and private sectors have a good deal of information on economic events and form expectations of future events;Synthesizing QEP and REH involves endogenizing government policy variables. The synthesis casts doubt on the validity of some claims to conceptual superiority of the REH under the hierarchical information structure. The synthesis allows us to derive specification errors of treating policy instruments as exogenous rather than endogenous variables and also to revisit Lucas\u27 critique of econometric policy evaluation and finds that when the public choices are endogenous, Lucas\u27 critique is not applicable because the private sector can not form proper expectations about policy choices;Empirical study for 1954-1985 used Taylor\u27s macroeconomic model of the United States to investigate effects of varying underlying assumptions on the synthesis and supports the claim that the endogenized policy variables should be included in government preference function because excluding them leads to unacceptable policy rules in economic sense. The numerical results show that prediction errors of quarterly money supply rules are smaller than those of annual money supply rules

Partner selection in virtual enterprises

Tese de doutoramento. Engenharia Industrial e Gestão. Faculdade de Engenharia. Universidade do Porto. 200

Ecosystem services, sustainable rural development and protected áreas

Enhancing social and economic development while preserving nature is one of the major challenges for humankind in the current century. The Millennium Ecosystem Assessment showed an alarming degradation of ecosystems and exacerbated poverty for many groups of people across the world due to unprecedented changes in ecosystems caused by human activities in the 20th century. Sustainable Rural Development is key to maintaining active local communities in rural and semi-natural areas, avoiding depopulation, and preserving high-ecological-value sites, including protected areas. Establishing protected areas is the most common strategy to preserve biodiversity around the world with the advantage of promoting the supply of ecosystem services. However, depending how it affects economic opportunities and the access to natural resources, it can either attract or repel human settlements. The convergence of development and conservation requires decision-making processes capable of aligning the needs and expectations of rural communities and the goals of biodiversity conservation. The articles compiled in this Special Issue (nine research papers and two review papers) make important contributions to this challenge from different approaches, disciplines and regions in the world.info:eu-repo/semantics/publishedVersio

Operational Research: Methods and Applications

Throughout its history, Operational Research has evolved to include a variety of methods, models and algorithms that have been applied to a diverse and wide range of contexts. This encyclopedic article consists of two main sections: methods and applications. The first aims to summarise the up-to-date knowledge and provide an overview of the state-of-the-art methods and key developments in the various subdomains of the field. The second offers a wide-ranging list of areas where Operational Research has been applied. The article is meant to be read in a nonlinear fashion. It should be used as a point of reference or first-port-of-call for a diverse pool of readers: academics, researchers, students, and practitioners. The entries within the methods and applications sections are presented in alphabetical order. The authors dedicate this paper to the 2023 Turkey/Syria earthquake victims. We sincerely hope that advances in OR will play a role towards minimising the pain and suffering caused by this and future catastrophes

Enhancing Managerial Decision-Making Through Multicriteria Modeling

The monograph constitutes a crowning of research led in the field of particular methodology of management science, in the field of enhancing managerial decision-making sub-discipline in frames of the practical stream of the management science discipline. The monograph is a development of the research project in which the elaboration of a scientific method for the enhancement of managerial decision-making processes through the Modular Multicriteria Managerial Decision-Making Model (MMUMADEMM) has been proposed

Systems Analysis in Forestry and Forest Industries

The purpose of this book is to present a variety of articles revealing the state of the art of applications of systems analysis techniques to problems of the forest sector. Such applications cover a vast range of issues in forestry and the forest industry. They include the dynamics of the forest ecosystem, optimal forest management, the roundwood market, forest industrial strategy, regional and national forest sector policy as well as international trade in forest products. Forest industrial applications at mill level, such as optimal paper trimming, cutting, and production scheduling, are however, excluded