It is well-known, in the literature, that most of the characterization results on exponential distribution are based on the solution of Cauchy functional equation and integrated Cauchy functional equation. In the present paper, we consider the functional equation <Equation ID="Equa"> <EquationSource Format="TEX">$$F(x)=F(xy) + F(xQ(y)), \quad...</equationsource></equation>

Prospect theory is the main behavioral alternative to expected utility. Tversky and Kahnemann (1992) motivate the utility function for gains and losses under prospect theory by using the axiom of preference homogeneity. However, they do not provide the formal proof. We provide the relevant...

Since Kahneman and Tversky (1979), it has been generally recognized that decision makers overweight low probabilities and underweight high probabilities. Of the several weighting functions that have been proposed, that of Prelec (1998) has the attractions that it is parsimonious, consistent with...

We present an analysis of time-delayed feedback control used to stabilize an unstable steady state of a neutral delay differential equation. Stability of the controlled system is addressed by studying the eigenvalue spectrum of a corresponding characteristic equation with two time delays. An...

The relevant dynamics of a queueing process can be anticipated by taking future arrivals into account. If the transport from one queue to another is associated with transportation delays, as it is typical for traffic or productions networks, future arrivals to a queue are known over some time...