The definition and the management of quality has evolved and assumed a variety of approaches, responding to an increased variety of needs. In industry, quality and its control has responded to the need of maintaining an industrial process operating as "expected", reducing the process sensitivity...

Quality claims and quality in fact of financial and industrial products as well as financial and business services are essential to entice and attract customers. For these reasons, firms are often tempted to assert claims that might or might not be met. These claims have risks which cannot...

The purpose of this paper is to price an order (inventory control) policy when markets are complete, assuming that the underlying product ordered (a commodity for example) by an industrial manager for example, can be set to be independent of inventories by using price derivatives (such as Call...

The purpose of this paper is to introduce and construct a state dependent counting and persistent random walk. Persistence is imbedded in a Markov chain for predicting insured claims based on their current and past period claim. We calculate for such a process, the probability generating...

Default probability distributions are often defined in terms of their conditional default probability distribution, or their hazard rate. By their definition, they imply a unique probability density function. The applications of default probability distributions are varied, including the risk...

This paper is a short introduction on Big Data for the RDA educational corner. The purpose of this presentation is to motivate a greater discussion of what is Big Data, how it is transforming the future of finance and what are the essential opportunities and concerns when using Big Data....

This paper considers a wealth heterogeneous multi-agent financial pricing CCAPM model and the effects of economic inequalities on agents consumption pricing. It is based on the following observations: (a) A distinction between what agents are willing to pay for consumption and what they actually...

The purpose of this paper is to assess the risk premium a fractional financial lognormal (Black-Scholes or BS) process relative to a non-fractional and complete financial pricing model. While fractional Brownian BS models based on the Duncan and Wicks calculus were shown to define a no arbitrage...