In this paper, a spatial price equilibrium model with information asymmetry in quality is developed. Producers at the supply markets are aware of the quality of their products, whereas consumers, located at the demand markets, are aware only of the average quality of the products that are...

This paper develops a new dynamic network economic model of Cournot-Nash competition for a service-oriented Internet in the case of service differentiation and quality competition. Each service provider seeks to maximize its own profit by determining its service volumes and service quality. We...

During a pandemic, it is essential to secure a broad allocation of life-saving goods, such as medical and protective products, to save lives. However, these goods are often in short supply, due to consumer hoarding, insufficient manufacturing capacity and price gouging. Herein, we develop a...

Expected shortfall (ES) is a popular risk measure and plays an important role in risk and portfolio management. Recently, change-point detection of risk measures has been attracting much attention in finance. Based on the self-normalized CUSUM statistic in Fan, Glynn and Pelger (2018) and the...

Problem Definition: We study the strategic interactions between a supplier and a retailer under demand uncertainty when the supplier has two options for how to ship a product: (i) road transport, which is expensive, high-emission and flexible, and (ii) rail transport, which is cheap, green, and...

We test the investor recognition hypothesis through an examination of the high volume return premium across countries. Our cross-country tests are consistent with the hypothesis in that we find the magnitude of the premium is associated with market characteristics that relate to the importance...