"In the future data communication networks interoperability becomes critical from both technological and business strategy perspective. Significance of interoperability has to be evaluated in terms of the overall economic performance of the system. In this paper we will present our view of the...

In the last two decades, Internet technologies, such as cloud computing, mobile communications, social media, and big data analytics, have brought tremendous changes to our society and reshaped the business in various industries. Specifically, the mushrooming innovations in the financial area...

Certifiers have a crucial role in facilitating effective communication in the online and the traditional world. As a way of generating statistically meaningful information, certification has been adopted in financial statements evaluation and more recently in various online communities as well....

This dissertation explores several aspects of the theory in industrial organization.The first chapter builds a model with two cost asymmetric firms who not only have Cournot competition in the spot market but also have the opportunity to trade forward contracts. It is shown that with forward...

This dissertation looks at several issues in designing an optimal skill-basedconsumer contest (SBCC). Consumer product (or service) companies, such asonline entertainment providers, often use SBCCs to promote the consumption oftheir products (or services). The main objective of a SBCC is to...

We solve the problem of optimal securitization for an issuer facing heterogeneous investorswith arbitrary time and risk preferences. We show that the optimal securitizationis characterized by multiple nonlinear tranches, and each investor gets a portfolio of thesetranches. In particular, when...

We solve the problem of optimal securitization for an issuer facing heterogeneous investors with arbitrary time and risk preferences. We show that the optimal securitization is characterized by multiple nonlinear tranches, and each investor gets a portfolio of these tranches. In particular, when...

We study optimal securitization of defaultable assets in a continuous time setting. A financial intermediary can create a portfolio of defaultable assets and then sell it to outside investors. The default risk of the assets in the portfolio is determined by the unobservable costly effort exerted...