When we face a decision matter we do not face a frozen-time where all keep still while we are making a decision, but the time goes by and the probability distribution keeps moving by new available information. In this paper I want to build up the mathematical framework of a special kind of...

In this paper, we address the mathematical analysis and numerical solution of a model for pricing a defined benefit pension plan. More precisely, the benefits received by the member of the plan depend on the average salary and early retirement is allowed. Thus, the mathematical model is posed as...