In a bid to ensure cost-effective highway construction practices, highway agencies constantly seek ways to accelerate project design and delivery through implementation of innovative contracting and procurement practices. The concept of warranties, which is one of such promising practices,...

INDOT initiated a study to investigate Performance Based Contracting of maintenance operations. One of the main impetus for the study is that INDOT started a ten year road building program called Major Moves that will add over a 1900 lane miles to the current network. With this addition and...

In the absence of order-book data and limited information on quoted bid-ask spreads in the Indian stock market, this paper attempts to analyze the bid-ask spread in Indian market by estimating bid-ask spreads and its components from trade prices. The sample consists of tick-by-tick data for the...

Follow the leader (FTL) algorithm is a newly developed optimization algorithm inspired by a sheep's movement within a flock. FTL has been successfully implemented to solve power prediction problems. However, the probability of falling in local optima is high due to randomness in the step...