An Enterprice Resource Planning (ERP) system makes possible an integrated enterprise system to automate the flow of material, information, and financial resources among all functions within an enterprise on a common database. While appropriate ERP selection can create competitive advantage for...

In this paper, we present an agent-based simulation system that allows modeling the interactions between software buyers and vendors in a software market. The market offers Software-as-a-Service (SaaS) and perpetual software (PS) licenses under different pricing schemes. Four dynamic pricing...

This paper revisits Wald's (1947) sequential experimentation paradigm, now assuming that an impatient decision maker can run variable-size experiments each period at some increasing and strictly convex cost before finally choosing an irreversible action. We translate this natural discrete time...

Due to the few computing resource planning options currently available in Grid computing, capacity planning, an old discipline for analyzing resource purchases, is simple to perform. However, once a commercial computing Grid is established, which provides many different resource types at...

The optimal stopping problem for the risk process with interests rates and when claims are covered immediately is considered. An insurance company receives premiums and pays out claims which have occured according to a renewal process and which have been recognized by them. The capital of the...

Bu çalışma, 1990-2004 döneminde hayat-dışı alanlarda faaliyet gösteren Türk sigortacılık şirketlerinde teknik etkinliği incelemektedir. Bu doğrultuda iki yöntem kullanılmaktadır: Geleneksel veri zarflama analizi ve son dönemde geliştirilen şans-kısıtlı veri zarflama...

Electricity producers participating in electricity markets face risks pertaining to both selling prices and the availability of the production units. Among electricity derivatives, options represent an adequate instrument to manage these risks. In this paper, we propose a multi-stage stochastic...

In this paper, we prove a maximum principle for general stochastic differential Stackelberg games, and apply the theory to continuous time newsvendor problems. In the newsvendor problem, a manufacturer sells goods to a retailer, and the objective of both parties is to maximize expected profits...

We explain essentially all known discounted utility anomalies as artefacts of the optimizing behavior of an individual with a time- separable utility function, who perceives a good as a source of a stochastic consumption stream, and believes that she can wait for an optimal moment to buy or sell...

Recent financial crises and especially large corporate bankruptcies, have led bank managements and financial authorities to follow and monitor both financial and real sector risks, and to focus on firm failures. Bank of International Settlements, has therefore, taken the decision to include the...