We propose two rational expectation models of transient financial bubbles with heterogeneous arbitrageurs and positive feedbacks leading to self-reinforcing transient stochastic faster-than-exponential price dynamics. As a result of the nonlinear feedbacks, the termination of a bubble is found...

Hospitals are an integral part of a society's critical functions designed to respond to man-made and natural disasters. Effective hospital capacity planning can significantly enhance the capability and effectiveness of treatment for emergency patients with injuries resulting from a disaster....

We present a self-consistent model for explosive financial bubbles, which combines a mean-reverting volatility process and a stochastic conditional return which reflects nonlinear positive feedbacks and continuous updates of the investors’ beliefs and sentiments. The conditional expected...

This is a follow-up to the recent paper by Lazar Babu et al. [V.L. Lazar Babu, R. Batta, L. Lin, Passenger grouping under constant threat probability in an airport security system, European Journal of Operational Research 168 (2006) 633-644] which investigated the benefit of classifying...

Rapid product design and development are crucial factors to maintaining a competitive advantage in today's intense market. Time-consuming iterative design cycles cause critical delays within the design development process. One widely applied method to identify such iterations is the design...

The central counterparties dominating the market for the clearing of over-the-counter interest rate and credit derivatives are globally systemic. Employing methodologies similar to the calculation of banks’ capital requirements against trading book exposures, this paper assesses the...

This paper assesses the sensitivity of the risk buffers, or capital requirements, of central counterparties clearing over-the-counter derivatives trades to a range of model inputs. It finds capital requirements to be highly sensitive to whether key model parameters are calibrated on a...