This paper proposes an original method for assessing costs of medical treatment. It defines states in a semi-Markov model associated with specific costs of the treatment, and not with patients' health statuses. Costs assigning to these "costs states" is more straightforward; moreover, it allows...

This paper proposes an original method for assessing costs of medical treatment. It defines states in a semi-Markov model associated with specific costs of the treatment, and not with patients' health statuses. Costs assigning to these "costs states" is more straightforward; moreover, it allows...

A stochastic model for pure-jump diffusion (the compound renewal process) can be used as a zero-order approximation and as a phenomenological description of tick-by-tick price fluctuations. This leads to an exact and explicit general formula for the martingale price of a European call option. A...

A stochastic model for pure-jump diffusion (the compound renewal process) can be used as a zero-order approximation and as a phenomenological description of tick-by-tick price fluctuations. This leads to an exact and explicit general formula for the martingale price of a European call option. A...

In a weighted spatial network, as specified by an exchange matrix, the variances of the spatial values are inversely proportional to the size of the regions. Spatial values are no more exchangeable under independence, thus weakening the rationale for ordinary permutation and bootstrap tests of...

We consider isotropic random motion where the direction alternations occur according to the renewal epochs of a Gamma distribution with shape parameter (n−2)/2, n=4,5,6,…, in higher dimensions. We formulate a general renewal-type equation for the characteristic function and we solve the...