Theorem Budget (2024)

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This article offers a new solution to the advertising budgeting problem, developed through empirical optimization. This method combines axioms with ...

He de- veloped an abstract version of the theory, allowing for 'budget sets' which are just non empty subsets of a given universal set of possible choices.

Apr 19, 2024 · We extend Afriat's theorem to a class of nonlinear, nonconvex budget sets. We thereby obtain testable implications of rational behavior for a ...
By Francoise Forges and Enrico Minelli; Abstract: Afriat proved the equivalence of a variant of the strong axiom of revealed preference and the existence of a solution

This paper examines how the Budget Theorem might be applied not only to individual battles, but to analyze a war in totality.
In a previous paper [1], “Lanchester's Equations and Cyberwarfare,” the application of Lanchester's equations to various forms of modern warfare was discussed. The Budget Theorem was derived from Lanchester's Equations and its relevance to modern warfare was discussed. It was noted that “there could be consequences in pursuing advanced technology without considering cost calculations.” Based on the Budget Theorem, it was suggested that ad-vanced high-tech weapons could be overwhelmed by large numbers of less technologically sophisticated weapons that might be more cost effective. It was suggested that based on economic factors, drones were likely to play an increasingly important role in future warfare. Since the writing of [1], Russia has renewed its war against Ukraine in a so-called “Special Military Operation”. In this conflict, drones have played a major role. This paper examines how the Budget Theorem might be applied not only to individual battles, but to analyze a war in totality. We shall explore this analysis using data derived from the Russo-Ukrainian War.
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We present an original theorem in auction theory: it specifies general conditions under which the sum of the payments of all bidders is necessarily not ...
We present an original theorem in auction theory: it specifies general conditions under which the sum of the payments of all bidders is necessarily not identically zero, and more generally not constant. Moreover, it explicitly supplies a construction for a finite minimal set of possible bids on which such a sum is not constant. In particular, this theorem applies to the important case of a second-price Vickrey auction, where it reduces to a basic result of which a novel proof is given. To enhance the confidence in this new theorem, it has been formalized in Isabelle/HOL: the main results and definitions of the formal proof are re- produced here in common mathematical language, and are accompanied by an informal discussion about the underlying ideas.

Sep 26, 2019 · The theorem is that the optimal rate of advertising is equal to gross profit multiplied by advertising elasticity. This does not involve a ratio ...
This paper reports a new theorem and proof for optimizing the advertising budget. The theorem is that the optimal rate of advertising is equal to gross profit multiplied by advertising elasticity. This does not involve a ratio of elasticities, and so is an advance on the Dorfman-Steiner theorem that has dominated this topic for the last 50 years. The elegant nature of the proof makes it especially suitable for managerial economics textbooks. The simple nature of the theorem means that it is easily adopted, by both large and small businesses, in place of heuristics such as industry advertising to sales ratios. From meta-analysis, the mean advertising elasticity is .11. Therefore, in the absence of any other information, companies should spend 11% of gross profit on advertising.

We extend Afriat's theorem to a class of nonlinear budget sets. We thereby obtain testable implications of rational behavior for a wide class of economic ...
Afriat (1967) showed the equivalence of the strong axiom of revealed preference and the existence of a solution to a set of linear inequalities. From this solution he constructed a utility function ra

Paul Dalziel; A generalisation and simplification of the Cambridge Theorem with budget deficits, Cambridge Journal of Economics, Volume 15, Issue 3, 1 Sept.
Paul Dalziel; A generalisation and simplification of the Cambridge Theorem with budget deficits, Cambridge Journal of Economics, Volume 15, Issue 3, 1 Sept