Abstract
Given a set of decision environments, we explore the selection of the optimal competence set so as to maximize the expected net return. Marginal analysis is used to formulate the concepts. An elegant theory and subsequent algorithms are derived for special classes of problems.
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This research was supported in part by a Summer Research Grant from Hagan School of Business, Iona College, New Rochelle, New York.
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Yu, P.L., Zhang, D. Marginal analysis for competence set expansion. J Optim Theory Appl 76, 87–109 (1993). https://doi.org/10.1007/BF00952823
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DOI: https://doi.org/10.1007/BF00952823