Contemporary financial stochastic programs typically involve a trade-offbetween return and (downside)-risk. Using stochastic programming we characterize analytically (rather than numerically) the optimal decisions that follow from characteristic single-stage and multi-stage versions of such...

We propose a multi-stage stochastic trading cost model in optimal portfolio selection. This strategy captures uncertainty in implicit transaction costs incurred by an investor during initial trading and in subsequent rebalancing of the portfolio. We assume that implicit costs are stochastic as...

The profitable exploitation of asset portfolios in the European electricity markets has become more challenging in recent years. This is particularly true for combined heat and power (CHP) generation units that are often facing must-run conditions due to heat demands that need to be satisfied....

We study the regional distribution of primary care physicians in Germany to learn about the extent and possible reasons of geographic maldistribution. For this aim, we apply a greedy capacitated algorithm on very fine spatial data. We compare this reference allocation of primary care physicians...

We study the regional distribution of primary care physicians in Germany to learn about the extent and possible reasons of geographic maldistribution. For this aim, we apply a greedy capacitated algorithm on very fine spatial data. We compare this reference allocation of primary care physicians...

Ethnicity wage gaps in Great Britain are large and have persisted over time. Previous studies of these gaps have been almost exclusively confined to analyses of household data, so they could not account for the role played by individual employers, despite growing evidence of their wage-setting...