We present a new model of forward dynamic utilities. In doing so, we provide unique (viscosity) solutions. In addition, we introduce Hausdorff-continuous viscosity solutions to the portfolio model.

We introduce a new utility-based approach to pricing European and American options. In so doing, we overcome some of the limitations of the existing models.

In this paper, we provide general closed-form solutions to the incomplete-market random-coefficient dynamic optimization problem without the restrictive assumption of exponential or HARA utility function. Moreover, we explicitly express the optimal portfolio as a function of the optimal...

We present a new model of stopping times and American options. In so doing, we solve the free-boundary problem.

Conflict between economic interests of two or more countries can take place in the inflation prone floating exchange regime and thus affect monetary policies of each other. This paper tries to examine whether the exchange rates of the currencies of the industrial countries are affecting...

The main aim of this work is to model the cash flows and cost dynamics for a Project Finance. Large scale capital-intensive projects usually require substantial investments up front and only generate revenues to cover their costs in the long term. The abandonment flexibility affects each project...

We introduce a new utility-based approach to pricing European and American options. In so doing, we overcome some of the limitations of the existing models.

This study was conducted to investigate the issue of what Philippine merchandise trade flows would be if countries operated at the frontier of the gravity model. The study sought to estimate the coefficients of the gravity model. The estimated coefficients were used to estimate merchandise...