We consider dynamic asset allocation problems where the agent is required to pay capital gains taxes on her investment gains. This is a very challenging problem because the tax owed whenever a security is sold depends on the cost-basis, i.e. the price(s) at which the shares of the security was...

We propose a partitioning algorithm to solve a class of linear-quadratic Markov decision processes with inequality constraints and non-convex stage-wise cost; within each region of the partitioned state space, the value function and the optimal policy have analytical quadratic and linear forms,...

Inventory control aims to meet customer demands at a given service level while minimizing cost. As a result of market volatility, customer demand is generally changing, and ignoring this uncertainty could lead to under or over-estimation of inventories resulting in shortages or inefficiencies....

Demand forecasting is an important aspect in supply chain management that could contribute to enhancing the profit and increasing the efficiency by aligning the supply channels with anticipated demand. In the retail industry, customers and their needs are diverse making demand forecasting a...

This article applies a Bayesian dynamic factor model to examine the relationship between financial development and economic growth from a new angle. We estimate the common, country, and idiosyncratic factors that drive the dynamics and co-movement of financial development and economic growth...

This paper examines bank risk and its main determinants when gauged at various bank threshold variables. We apply the dynamic panel threshold estimation technique developed by Seo and Shin (2016) to a panel of 3,109 commercial banks in the United States during 2005–2019. A novel instrument is...

We consider a single-installation, single-product inventory management problem with positive fixed ordering costs. We allow the unfulfilled demand to be either backlogged or lost and the lead time to be either zero or positive, and assume that the stochastic demand is correlated and information...

Intergenerational transmission exists in parents’ and children’s educational attainment as well as in biological genetic inheritance. In fact, it impacts educational attainment transfer across generations in many ways. This article elaborates from different angles on the characteristics,...

Graphene-based electrodes with rational structural design have shown extraordinary prospect for harvesting enhanced electrical double-layer capacitance of micro-supercapacitors (MSCs). In this study, a facile fabrication method for flexible planar MSCs based on hierarchical graphene is...

Granular anammox sludge treating high-ammonium (~270 mg-N/L) wastewater and biofilm anammox sludge treating low-ammonium (~10 mg-N/L) wastewater were inoculated in two identical reactors to treat low-ammonium wastewater. The physiological, kinetic, and microbial community characterizations were...