This paper represents an empirical research of the growth process in the Russian banking sector during 2004-2010 years. The growth process is modelled by Markov chains. Nine states were used to describe the growth process. Markov chain stationarity check revealed three homogeneous periods. The...

Owning to the similarities in the nature of their business operations, it should be possible to apply the successful experience of airline revenue management to mass media advertising. However, one of the salient differences between airlines and mass media advertising is rarely highlighted, i.e....

Hansen and Jagannathan (1997) introduce a measure of model misspecification which is based on the L2-norm and which has been wildly used in recent years in order to estimate the parameters of linear factor models. Given the observed asymmetry and excess kurtosis of financial returns, this paper...

In this paper we present an optimization problem solving, problem that is mathematically shaped as a linear programming problem. This is made with the purpose of finding an optimal solution which is also a sustainable one. In the present and future society, it is clear that nothing can be done...

The appliance and lighting group of the General Electric (GE) Company allocates its shipping truckload to 17 different trucking companies over 701 different routes from one of its nine terminals. A sequence of several linear programming models was developed to help the management of the...

The forest owners' timber-selling satisfaction has been researched only a little even it can be considered as an essential feature in the timber-sales transactions. The satisfaction survey was conducted for the Finnish non-industrial private forest owners. Forest owners sent back 796 completed...