The main aim of this paper is to derive the mathematical formulation to device an optimal purchasing policy for the service providing agency. An attempt has been made to maximize the output function of an agency subject to a nonlinear budget constraint by assuming that the agency gets price...

This paper provides some special cases that need to be addressed in using transportation technique for a possible and quick improvement towards optimal solution. The paper deals with three special cases in particular. The first is no allocation to a particular cell (destination) in a...

The three-sector framework (related to agriculture, manufacturing, and services) is one of the major concepts for studying the long-run change of the economic structure. We discuss the system-theoretical classification of the structural change phenomenon and, in particular, the applicability of...

A great part of economic literature deals with structural changes, i.e. long-run changes in the structure of economic aggregates. While the standard literature relies on the mathematical branches of analysis and algebra for modeling structural change and describing the relevant empirical...

In this paper we study a class of infinite horizon fully coupled forward-backward stochastic differential equations (FBSDEs), that are stimulated by various continuous time future expectations models with random coefficients. Under standard Lipschitz and monotonicity conditions, and by means of...

This paper provides a concise guide to dynamic optimization with an integral treatment on various optimal control and dynamic programming problems. It presents essential theorems and methods for obtaining and characterizing solutions to these problems. The paper discusses Pontryagin's maximum...

We study investment and disinvestment decisions in situations where there is a time lag 0 from the time t when the decision is taken to the time when the decision is implemented. Applying the probabilistic approach to the combined entry and exit decisions under the Parisian implementation delay,...

The investment industry lacks an unified framework for handling derivative instruments in general portfolio management. With the increased use of derivatives, there is a need for a framework that aligns fundamental terminology and concepts. The main challenges with the current practices are...

This articles presents a new series of maps showing the climate and environmental variability of Botswana. Situated in southern Africa, Botswana has an arid to semi-arid climate, which significantly varies in its different regions: Kalahari Desert, Makgadikgadi Pan and Okavango Delta. While...

In this paper, a latex script has been proposed for a new mathematical operator which was introduced in the book "Nanobrain: The Making of an Artificial Brain from a Time Crystal". This operator performs a new kind of operation that enables the fusion of geometric shapes with a purpose to form...