Phase-type (PH) distributions are defined as distributions of lifetimes of finite continuous-time Markov processes. Their traditional applications are in queueing, insurance risk, and reliability, but more recently, also in finance and, though to a lesser extent, to life and health insurance....

Phase-type (PH) distributions are defined as distributions of lifetimes of finite continuous-time Markov processes. Their traditional applications are in queueing, insurance risk, and reliability, but more recently, also in finance and, though to a lesser extent, to life and health insurance....

The Study of School Turnaround examines the improvement process in a purposive sample of 35 case study schools receiving federal funds through the School Improvement Grants (SIG) program over a three-year period (2010–11 to 2012–13 school years). This brief focuses on 11 of these...

Many retailers find it useful to partition customers into multiple classes based on certain characteristics. We consider the case in which customers are primarily distinguished by whether they are willing to wait for backordered demand. A firm that faces demand from customers that are...

We value synthetic CDO tranche spreads, index CDS spreads, kth-to-default swap spreads and tranchelets in an intensity-based credit risk model with default contagion. The default dependence is modelled by letting individual intensities jump when other defaults occur. The model is reinterpreted...