The Dodd–Frank (D–F) Financial Reform Bill authorizes the Federal Reserve to monitor the financial services marketplace to identify potential threats to the stability of the US financial system. Alan Greenspan's retrospective indicates what he has learned from the crisis. He argues that the...

This paper analyzes the optimal strategy of a monopoly facing stochastic and dynamic demand and choosing a Cournot-type strategy, more precisely, adjusting its output. This investigation is motivated by the decisions of OPEC to adjust its output and by the again high and volatile oil prices. The...

This paper is concerned with solving a vendor–buyer integrated inventory problem with rework and a specific multi-delivery policy by a two-phase algebraic approach. Conventional method to the problem is to use differential calculus and Hessian matrix equations to prove convexity of system cost...

This paper examines a vendor–buyer integrated system that includes rework and an enhanced product delivery policy that aims at lowering stock holding costs for both the vendor and the buyer. It extends the recent work of Chiu et al. (2011) by incorporating an amending ‘n+1’ shipment policy...

A theory of a wealth maximizing, capital accumulating, price taking firm facing adjustment costs and operating in the presence of disembodied and price-induced technical progress is developed. The testable implications of the extended theory are derived under mild assumptions and are thus...

We comparatively study optimal economic growth in a simple endogenous growth model and under two different games, i.e., dynamic sequential game and cooperative stochastic differential game, between a representative household and a typical self-interested politician. Sequential equilibrium...

We explore the role of habit formation in housing in explaining the life-cycle household allocations. Empirical studies about households in the U.S. reveal that the housing profile increases monotonically until age mid-60s and then flattens out. The model is realistically calibrated and solved...

Firms' quality commitment can efficiently improve the demand. This paper addresses the quality commitment under the duopoly. By establishing a Cournot model, the effects of quality commitment are discussed. Firstly, under one-sided quality commitment, the higher efficiency firm committing in...

Operating in highly competitive global markets, management of the contemporary corporations constantly seeks to cut down various operating costs, such as inventory holding costs in the production units and their affiliated retailers. For the purpose of reducing stock holding cost, this paper...

This study examines the relationship between time-varying risk perceptions of investors towards major European countries and Turkey. In that manner, we first obtain the dynamic conditional correlations between the credit default spreads (CDSs) of Turkey and 13 European countries from September...