This paper concerns dynamic pricing of multiple perishable products when there is model uncertainty, which we formulate as a worst-case stochastic intensity control problem where ambiguity is modeled using the notion of relative entropy. One feature of our formulation is that the demand models...

We aim at some simple theoretical underpinnings for a complex empirical question studied by labor economists and others: does Information-technology improvement lead to occupational shifts -- toward "information workers" and away from other occupations -- and to changes in the productivity of...

We aim at some simple theoretical underpinnings for the study of a complex empirical question studied by labor economists and others: does Information-technology improvement lead to occupational shifts -- toward "information workers" and away from other occupations -- and to changes in the...

In this paper, we formulate a single-period portfolio choice problem with parameter uncertainty in the framework of relative regret. Relative regret evaluates a portfolio by comparing its return to a family of benchmarks, where the benchmarks are the wealths of fictitious investors who invest...

The supermodular and the symmetric supermodular stochastic orders have been cursorily studied in previous literature. In this paper we study these orders more thoroughly. First we obtain some basic properties of these orders. We then apply these results in order to obtain comparisons of random...

We consider tandem queueing networks with no waiting spaces and address the issue of ordering the stations so that the throughput (i.e., the departure rate) is maximized. Based on some theoretical and extensive empirical results, we propose two rules for ordering the stations. The first rule...