Description:
Economists, it seems, should be guarded about having their likeness taken for posterity. The end product is not as predictable as the legacies they leave behind. This article discusses such possibilities with the two portraits undertaken by two different artists of the leading figures of interwar and postwar Australian economics.
Description:
Economists, it seems, should be guarded about having their likeness taken for posterity. The end product is not as predictable as the legacies they leave behind. This article discusses such possibilities with the two portraits undertaken by two different artists of the leading figures of interwar and postwar Australian economics.
Description:
The paper presents a generalization of a known density theorem of Arrow, Barankin, and Blackwell for properly efficient points defined as support points of sets with respect to monotonically increasing sublinear functions. This result is shown to hold for nonconvex sets of a partially ordered reflexive Banach space.
Description:
The paper presents a generalization of a known density theorem of Arrow, Barankin, and Blackwell for properly efficient points defined as support points of sets with respect to monotonically increasing sublinear functions. This result is shown to hold for nonconvex sets of a partially ordered reflexive Banach space.
Description:
A new reliability evaluation methodology for multistate weighted k-out-of-n systems is presented in this article. The present value of the cash flow generated by the system components is used as a reliability value. We take a financial view of reliability and consider functioning periods and the time value of money in system reliability analysis. Two approaches, the universal generating function (UGF) and recursive algorithm, are applied to evaluate the reliability of the multistate weighted k-out-of-n system. An illustrative example is calculated based on the proposed system reliability evaluation methodology. It is shown that this evaluation method can also be used to find the value of the maintenance policy. Finally, the UGF and recursive algorithm approaches are compared with each other for large system reliability assessment. [ABSTRACT FROM AUTHOR] Copyright of Engineering Economist is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Description:
J.M. ‘Pete’ Garland was an outstanding Australian economist sometimes much overlooked. Despite a promising academic career, as evidenced by his work on land tax, he was lost to Australian universities when the Commonwealth Bank snapped him up on his return to Australia from Cambridge. He became a key figure in the development of Australian central banking practices, establishing a longstanding liquidity convention that the private trading banks upheld for many years. He was also instrumental in building up the economic research department at the Bank. He maintained his links with academe and was considered the man most likely to write the biography of L.F. Giblin.
Description:
This conversation was held with Selwyn Cornish in mid-2023 in Canberra. It covers some of the many contributions Selwyn has made, and is continuing to make, to both the history of economic thought and Australian academic life in his long career at the Australian National University. It also covers his interest in the lives of practical economists and the history of the Reserve Bank.