In this paper we consider a proper Shapley value (the V L value) for cooperative network games.This value turns out to have a nice interpretation.We compute the V L value for various kinds of networks and relate this value to optimal strategies in an associated matrix game.

We consider a consumption and investment problem where an investor¡¯s investment opportunity gets enlarged when she becomes rich enough, i.e., when her wealth touches a critical level. We derive optimal consumption and investment rules assuming that the investor has a time-separable von...

China is currently establishing a strategic petroleum reserve (SPR) to ensure its energy security. The stated government goal is to build up an SPR equivalent to the amount of 90 days of net oil imports by 2020. To build up an SPR needs a large amount of funds. How to determine the optimal...

In order to surpass the stringent regulations, the industry sector in India is largely resorting to contract labourers, who are governed by an Act. A primary survey carried out in an industrially developed state in India, reveals that several stipulations made in the Act are not followed. The...