The rapid growth in demand and supply of sophisticated data mining and analytical decision tools calls for research to understand the value of learning, as well as how learning interacts with firms’ day-to-day marketing strategies.In this paper, we consider a market in which the firm can...

The management programs for invasive species have been proposed in many regions. The resulting outcome on success or failure seems to be significantly affected by the degrees of multiple uncertainties, such as growth uncertainty and measurement error, associated with management practices. This...

This paper studies the problem of pricing high-dimensional American options. We propose a method based on the state-space partitioning algorithm developed by Jin et al. (2007) and a dimension-reduction approach introduced by Li and Wu (2006). By applying the approach in the present paper, the...

The aim of this paper is to compute upper and lower bounds for convex value functions of derivative contracts. Laprise et al. (2006) compute bounds for American-style vanilla options by selected portfolios of call options. We provide an alternative interpretation of their numerical procedure as...