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While such a develop ment may be particularly warranted in view of European housing markets, we maintain this to be the case in view of the American housing market as well.

The Sixth International Multiple-Criteria Decision Making (MCDM) Conference is one of a biennial series that serve as a forum for exchange of the latest information and new developments in this rapidly growing field.

By interrelating concepts and results from system theory with those from econometrics and social sciences, the author has attempted to narrow the gap between the more technical sciences such as engi neering and social sciences and econometrics, and to contribute to either side.

The analysis and optimization of convex functions have re ceived a great deal of attention during the last two decades. Duality theory has also fascinated many mathematicians since the underlying mathematical framework has been laid down in the context of Convex Analysis.

Infinite programming may be defined as the study of mathematical programming problems in which the number of variables and the number of constraints are both possibly infinite.

The distribution of capital and income in general and its re lation to wealth and economic growth in particular have attrac ted economists' interest for a long time already.

This material is based upon work supported by the National Science Foundation under grant #SES-8410190. Seminar participants at the BLS, the University of Karlsruhe, and Tilburg University provided insightful comments on preliminary portions of the manuscript.

the empirical study on the money stock described in chapter 5 at the Symposium on Money, Banking and Insurance held at the University of Karlsruhe, 1984, as well as at a joint seminar of the University of Basle and the Bank for International Settlements (BIS), 1985;

These proceedings include papers presented at the VII-th Internatio nal Conference on Multiple Criteria Decision Making which was held in Kyoto/Japan on August 18-22, 1986.

In the context of several ongoing R&D projects aiming at the development of a new generation of tools for "intelligent" decision support, two related problem areas that have been identified are: (i) Structuring the industry or plant for the minimum cost of production as well as least risk - e.g., toxicity of chemicals involved.

In vector optimization one investigates optimization problems in an abstract setting which have a not necessarily real-valued objective function. This meeting was an interdisciplinary forum devoted to new results in the theory, to applications as well as to the solution of vector optimization problems which are relevant in practice.

This book is a treatise on empirical microeconomics: it describes the econometric theory of qualitative choice models and the empirical practice of modeling consumer demand for a heterogeneous commodity, housing. The first part gives a self-contained survey of discrete choice models with emphasis on nested and related multinomial logit models.

To improve flexibility and robustness of fuzzymathematical programming techniques, we also present ourexpert decision-making support system IFLP which considersand solves all possibilities of a specific domain of (fuzzy)linear programming problems.

This book treats the subject of global optimization with minimal restrictions on the behavior on the objective functions. The integration-based approach contrasts with existing approaches which require some degree of convexity or differentiability of the objective function.

(ii) After the first reported applications of simulated annealing (1983- 1985), a tremendous amount of theoretical and applied work have been published within many different disciplines.

In this monograph, we use optimal model specification techniques, including formal unit root tests which allow for trend, and find that all of the exchange rates studied do in fact evolve as random walks or random walks with drift (to a very close approximation).

We use the term stochastic ordering in a broad sense to denote any ordering relation on a space of probability measures.

This monograph is a treatise on adjustment processes. We consider price adjustment processes in exchange economies and strategy adjustment processes in noncooperative games. The advantage of the adjustment processes we will present in this monograph is that they exist and converge under far weaker assumptions than existing processes.