The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Oct, 1956, Volume 24, Issue 4
https://doi.org/0012-9682(195610)24:4<413:TAOLPT>2.0.CO;2-#
p. 413-428
Jerome Percus, Leon Quinto
This article applies linear programming to a field hitherto untouched by it. Competitive bidding for serial bonds issued by governments and other public authorities is currently based on the "net interest cost" method. The authors examine and describe the factors which enter into net interest cost and provide a method for adjusting those variables most subject to the control of the bond bidders. Since the bidder presenting the lowest net interest cost to the issuing authority wins the issue, the object of these adjustments is to minimize a given bidder's net interest cost. The linear programming problem which arises from the minimization requirement is of a form which admits of an explicit solution. This solution is given and a practical method for its computation is provided.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
