The COVID-19 pandemic has ravaged almost every part of the world, causing severe loss of life and economic damage to the world economy. This study proposes a mathematical model of SARS-COV-2 by considering the high-risk population. We establish the local and global stability of the model based...

Purpose The authors characterize the conditions under which a country may eventually split and when it splits within an infinite horizon multi-stage differential game. Design/methodology/approach In contrast to the existing literature, the authors do not assume that after splitting, players will...

In this note we formulate an optimality problem for Stochastic process with a regime absorbing state. We present a solution for this problem as a pair of differential equations that are recusrsively linked. As an application I obtain an analytical for the Merton portfolio problem in a case for a...

Consider robust utility maximization with an irreversible consumption habit, where an agent concerned about model ambiguity is unwilling to decrease consumption and must simultaneously contend with a disutility (i.e., an adjustment cost) due to a consumption increase. While the optimization is a...