The main aim of this paper is to study the phenomenon of the coexistence of firms with illegal characteristics and firms showing legal behaviour in developed economies by using an evolutionary competition model known as the Lotka-Volterra equations. Enterprises in a 'legal system' obey the...

The main aim of this paper is to study the phenomenon of the coexistence of firms with illegal characteristics and firms showing legal behaviour in developed economies by using an evolutionary competition model known as the Lotka-Volterra equations. Enterprises in a 'legal system' obey the...

It is known that the risk minimizing price of European options in Markovmodulated market satisfies a system of coupled PDE, known as generalized B-S-M PDE. In this paper, another system of equations, which can be categorized as a Volterra integral equations of second kind, are considered. It is...

It is known that the risk minimizing price of European options in Markovmodulated market satisfies a system of coupled PDE, known as generalized B-S-M PDE. In this paper, another system of equations, which can be categorized as a Volterra integral equations of second kind, are considered. It is...

In this paper, we obtain the density function of the single barrier one-sided Parisian stopping time. The problem reduces to that of solving a Volterra integral equation of the first kind, where a recursive solution is consequently obtained. The advantage of this new method as compared to that...