Operations Research Techniques for Capital Investment by F. Hanssmann. New York: Wiley and Sons, 1968.

James A. Mirrlees

Abstract


Even yet I suppose many economists are taught how to discuss
problems rather than how to solve them. It is not surprising, therefore,
that even in the analyses of investment projects, where the economist
might have been thought to be the expert, mathematicians, scientists and
statisticians have often been able to make a much more constructive and
profitable contribution than the economist. 'Operations Research' is the
mixture of mathematics, quantitative insight, and common sense that is
coming to be used to solve many of the more complex problems of industry
and government. Professor Hanssmann sets out to explain, without too
much mathematics and with plenty of illustrative case studies, how these
methods can be applied to investment decisions.

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DOI: https://doi.org/10.30541/v9i1pp.89-91

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