This paper addresses the economic efficiency of water production and distribution in a vertical supply chain consisting of a water-provider and a consumer (municipality). The inherent conflicts over stocks and supply costs that emerge among the parties in the water supply chain are modeled as a...

The financial crisis of 2008 has revealed what we all know: That liquidity matters very much; That the future may be unpredictable; That non-transparency, complexity and ambiguity have conjured with greed to induce “Management's Risks” as being able to derail financial sustainability and That...

This paper considers an individual's problem and effects on savings for retirement. We show using a deterministic model, a linear utility function and assuming an individual can benefit from a tax break in savings, that under reasonable circumstances, there is only one switch from not saving to...

The purpose of this paper is to study the mean, the variance, the probability distribution and the hazard rate of the inverse range process of an a-priori unknown volatility random walk. Motivation for this process arises when it is necessary to obtain statistics that pertain to a process...