A linear control model of a university budget is presented as an aid to developing optimal strategies for dealing with major exogenous uncertainties. The specific uncertainties treated are those associated with inflation, endowment returns, and fund-raising. The model seeks to stabilize budget...

Cooter and Restrepo propose a career path model for junior professionals who can decide to stay and hope for promotion to the senior level or leave to take an outside opportunity. In this article their assumption of a uniform distribution for time to promotion is first changed to the more...