Asian and European financial markets impose daily price fluctuation limits on individual securities. In the US several futures exchanges are regulated by price fluctuation limits as well. The price limits in most exchanges are set daily, and they are usually based on a percentage change from the...

Several financial markets impose daily price limits on individual securities. Once a price limit is triggered, investors observe either the limit floor or ceiling, but cannot know with certainty what the true equilibrium price would have been in the absence of such limits. The price limits in...

Several futures contracts are written against an underlying asset that is a geometric, rather than arithmetic, index. These contracts include: the US Dollar Index futures, the CRB-17 futures, and the Value Line geometric index futures. Due to the geometric averaging, the standard cost-of-carry...

In a futures market with a daily price‐limit rule, trading occurs only at prices within limits determined by the previous day's settlement price. Price limits are set in dollars but can be expressed as return limits. When the daily return limit is triggered, the true equilibrium futures return...

Some sharp bounds and simple approximations are obtained for the Erlang delay formula and for the Erlang loss formula. One of the results is then used to get a simple analytical solution for the Server Allocation Problem.

Erratum to Sharp Bounds and Simple Approximations for the Erlang Delay and Loss Formulas (Vol. 34, No. 8 (August 1988), pp. 959-972.)