This paper considers the consequences of errors in the cost function which underlies linear decision rules generally and in particular those developed by Holt, c.s., for the paint factory case. By ...

A function machine is a way of writing rules using a flow diagram. The equation \(3h - 6 = 9\) can be shown on a function machine by writing out the functions that have been applied to \(h\) in the ...

This article studies the accuracy of two versions of Kydland and Prescott's (1980, 1982) procedure for approximating optimal decision rules in problems in which the objective fails to be quadratic and ...