Showing 1 - 10 of 11
In this paper, second-order macroscopic vehicle traffic flow models are discussed from the perspective of their capability to reproduce stable and unstable traffic flow behaviors observed in real traffic. To achieve this goal, a nonlinear traffic flow stability criterion is derived using a...
Persistent link: https://www.econbiz.de/10005228271
Persistent link: https://www.econbiz.de/10011780987
We analyze the determination of a value maximizing dividend payout policy for a broad class of cash reserve processes modeled as spectrally negative jump diffusions. We extend previous results based on continuous diffusion models and characterize the value of the optimal dividend distribution...
Persistent link: https://www.econbiz.de/10010847615
We analyze the determination of a value maximizing dividend payout policy for a broad class of cash reserve processes modeled as spectrally negative jump diffusions. We extend previous results based on continuous diffusion models and characterize the value of the optimal dividend distribution...
Persistent link: https://www.econbiz.de/10010950040
We consider the optimal sequential irreversible investment policy of a value maximizing firm facing decreasing returns to scale and interest rate uncertainty. We characterize the optimal accumulation policy and its value for a broad class of diffusion models of the short interest rate by...
Persistent link: https://www.econbiz.de/10010950269
This study develops a real options approach for analyzing the optimal risk adoption policy in an environment where the adoption means a switch from one stochastic flow representation into another. We establish that increased volatility does not necessarily decelerate investment, as predicted by...
Persistent link: https://www.econbiz.de/10005371188
Persistent link: https://www.econbiz.de/10008596723
We consider the optimal sequential irreversible investment policy of a value maximizing firm facing decreasing returns to scale and interest rate uncertainty. We characterize the optimal accumulation policy and its value for a broad class of diffusion models of the short interest rate by...
Persistent link: https://www.econbiz.de/10010759476
Persistent link: https://www.econbiz.de/10005715699
We consider the determination of an optimal dividend policy in the presence of cash flow uncertainty and transaction costs. We state a set of weak conditions under which the optimal dividend policy can be explicitly characterized for a broad class of diffusions modelling the underlying cash flow...
Persistent link: https://www.econbiz.de/10005753298