The Internet is a multi‐channel distributor of data, information and knowledge. Information has value. It is becoming a separate entity to people and artefacts and is taking on the mantle of a commodity. Information affects the value chain and, in the network of networks known as the Internet,...

Banks should evaluate whether a borrower is likely to default. The author applies several techniques in the extensive mathematical literature of stochastic optimal control/dynamic programming to derive an optimal debt in an environment where there are risks on both the asset and liabilities...