With the Day Reconstruction Method (DRM), Kahneman, Krueger, Schkade, Schwarz, and Stone (2004) introduced an important approach in subjective well-being (SWB) research to explore how people experience daily activities. A major unresolved question for laypeople and scholars alike resulting from...

Large banking groups face the question of how to optimally allocate and generate liquidity: in a central liquidity hub or in many decentralized branches. We translate this question into a facility location problem under uncertainty. We show that volatility is the key driver behind...