This paper looks at static overbooking models. In theory, a random show demand follows a binomial distribution with each reservation showing up independently and with the same probability. However, in practice, some overbooking models assume that the show demand is the product of the overbooking...

Patients' satisfaction with an appointment system when they attempt to book a nonurgent appointment is affected by their ability to book with a doctor of choice and to book an appointment at a convenient time of day. For medical conditions requiring urgent attention, patients want quick access...

The forward premium is a notoriously poor predictor of exchange rate movements. This failure must reflect deviations from risk neutrality and/or rational expectations. In addition, a mechanism is needed that generates the appropriate correlation between the forward premium and shocks arising...

The uncertainty in estimates of the energy yield from a wave energy converter (WEC) is considered. The study is presented in two articles. The first article considered the accuracy of the historic data and the second article, presented here, considers the uncertainty which arises from...

The concept of the long tail has recently been used to explain the phenomenon in e-commerce where the total volume of sales of the items in the tail is comparable to that of the most popular items. In the case of online book sales, the proportion of tail sales has been estimated using regression...

In this paper, in order to establish connection between fractional derivative and fractional Brownian motion (FBM), we first prove the validity of the fractional Taylor formula proposed by Guy Jumarie. Then, by using the properties of this Taylor formula, we derive a fractional Itô formula for...

 Concerns about the risk of food supply contamination have limited the development and commercialization of certain pharmaceutical plants. This article develops an insurance pricing model that helps translate these concerns into a cost-benefit analysis. The model first estimates the physical...

When designing a sourcing strategy in practice, a key task is to determine the average order rates placed to each source because that affects cost and supplier management. We consider a firm that has access to a responsive nearshore source (e.g., Mexico) and a low-cost offshore source (e.g.,...

A collaborative filtering system recommends to users products that similar users like. Collaborative filtering systems influence purchase decisions and hence have become targets of manipulation by unscrupulous vendors. We demonstrate that nearest neighbors algorithms, which are widely used in...