This study proposes a non-homogeneous continuous-time Markov regenerative process with recurrence times, in particular, forward and backward recurrence processes. We obtain the transient solution of the process in the form of a generalized Markov renewal equation. A distinguishing feature is...

This article presents a semi-Markov process based approach to optimally select a portfolio consisting of credit risky bonds. The criteria to optimize the credit portfolio is based on l∞-norm risk measure and the proposed optimization model is formulated as a linear programming problem. The...

The Freemium business model, commonly used in digital products, has both a perpetually free but limited version and a premium version with enhanced features that requires a fee. These firms often have a referral program in which current customers get additional benefits (e.g., extra storage...

This paper develops a strategy with simple implementation and limited data requirements to identify spatial distortion of supply from demand – or, equivalently, unequal access to supply among regions – in transportation markets. We apply our method to ride-level, multi-platform data from New...

Music is used extensively to evoke emotion throughout the customer journey. This paper develops a theory-based, interpretable deep learning convolutional neural network (CNN) classifier---MusicEmoCNN---to predict the dynamically varying emotional response to music. To develop a theory-based CNN,...