Due to the low demand for conventional annuities, alternative retirement products are sought. Quite recently, tontines have been frequently brought up as a promising option in this respect. Inspired by unit-linked life insurance and retirement products, we introduce unit-linked tontines in this...

Water service to the urban poor presents challenges to political leaders, regulators and managers. We identify technology mixes of yard taps, public water points (with and without pre-paid meters) to meet alternative constraints, and reflecting populations served and investment requirements....

Utility functions have been used widely to support multi-objective decision-making. Expansion of a general additive utility function around the ideal results in a composite linear-quadratic metric of a compromise programming problem. Determining the unknown parameters of the composite...

In this paper we study BSDEs arising from a special class of backward stochastic partial differential equations (BSPDEs) that is intimately related to utility maximization problems with respect to arbitrary utility functions. After providing existence and uniqueness we discuss the numerical...