We present a stochastic model of gait rhythm dynamics, based on transitions between different “neural centers”, that reproduces distinctive statistical properties of normal human walking. By tuning one model parameter, the transition (hopping) range, the model can describe alterations in...

In this paper, we develop approximations that yield insight into the joint optimization of capacity and inventory,and how the optimal inventory policy varies with capacity investment in a single-product, single-station, make-to-stock manufacturing system in which inventory is managed through a...

We analyze two joint decisions in the management of HIV-infected patients on antiretroviral therapy: how frequently to measure a patient's virus level, and when to switch therapy. The underlying stochastic model captures the initial suppression and eventual rebound of the virus level in the...

The aim of this paper is to apply the appropriate numerical, statistical and computer techniques to the construction of approximate solutions to 2nd order stochastic differential equations, subject to large random external disturbances with infinite variance, described by α-stable Lévy motion...

Critical path models concerning project management (i.e. PERT/CPM) fail to account for work force behavioral effects on the expected project completion time. In this paper, we provide a modelling framework for project management activities, that ultimately accounts for expected worker behavior...

This book provides a broad introduction of modern asset pricing theory with equal treatments for both discrete-time and continuous-time modeling. Both the no-arbitrage and the general equilibrium approaches of asset pricing theory are treated coherently within the general equilibrium...