For the treatment of specific interest rate risk, a risk model is suggested, quantifying and combining both market and credit risk components consistently. The market risk model is based on credit spreads derived from traded bond prices. Though traded bond prices reveal a maximum amount of...

March brings March Madness, the annual conclusion to the U.S. men's college basketball season with two single elimination basketball tournaments showcasing the best college teams in the country. Almost as mad is the plethora of office pools across the country where the object is to pick a priori...

In this paper we demonstrate that with the use of numerical discretization methods and computer simulation techniques it is possible to construct approximations of stochastic integrals with integrators defined by α-stable (stable) Lévy motion. As a consequence, solving numerically stochastic...

The purpose of this paper is to compare the abilities of two competing analytical techniques---mathematical programming and statistical regression---to shed light on the union/nonunion productivity differential in U.S. surface coal mining. The programming approach has the virtues of being...