We provide benchmarks to evaluate what is an optimal foreign debt and a maximal foreign debt (debt-max), when risk is explicitly considered. When the actual debt exceeds debt-max, then the economy will default when a "bad shock" occurs. This paper is an application of the stochastic optimal...

Motivatedby the exceptionally high mortality statistics of dialysis patients and the ongoing debate about the adequacy of the current reimbursement for dialysis in the United States, we pursue a detailed analysis of the dialysis delivery system. The analysis is based on a multiclass fluid model...

A model is introduced to guide a profit maximizing firm in its quest to enhance performance through process change. The key benefit sought from process change is a long term increase in effective capacity. However, realizing success from process change is not trivial. First, while process change...