This paper models the US-China trade conflict initiated in 2018 and attempts to analyze the (optimal) strategic choices of the United States and China. In contrast to the existing literature on the topic, we employ the expected utility theory and examine the conflict mathematically. In both...

In this paper, we develop a robust numerical method in pricing options, when the underlying asset follows a jump diffusion model. We demonstrate that, with the quadratic spline collocation method, the integral approximation in the pricing PIDE is intuitively simple, and comes down to the...

In this paper, we present the data-driven COS method, ddCOS. It is a Fourier-based financial option valuation method which assumes the availability of asset data samples: a characteristic function of the underlying asset probability density function is not required. As such, the method...

Preventive health care is of utmost importance to governments since they can make massive savings on health care expenditure and promote the well-being of the society. Preventive care includes many services such as cancer screenings, vaccinations, hepatitis screenings, and smoking cessation...

In this paper a generalized decomposable multiattribute utility function (MAUF) is developed. It is demonstrated that this new MAUF structure is more general than other well-known MAUF structures, such as additive, multiplicative, and multilinear. Therefore, it is more flexible and does not...

The classical problem of ranking alternatives when there exists partial information on the scaling constants for additive multi-attribute utility functions (MAUFs) is reexamined. Most approaches assume that the unknown scaling constants can be precisely known. In this paper, we argue that this...

In this paper we consider the pricing of an American call option whose underlying asset dynamics evolve under the influence of two independent stochastic volatility processes as proposed in Christoffersen, Heston and Jacobs (2009). We consider the associated partial differential equation (PDE)...