Passenger’s transfer route choice behavior is one of the prominent research topics in the field of railway transportation. Existing traffic assignment approaches do not properly account for passenger’s expectation for transfer reliability. In this study, the transfer reliability is...

We consider a risk-averse entrepreneur who invests in a project with idiosyncratic risk. In contrast to the literature, we assume the entrepreneur is unable to get a loan from a bank directly because of the low creditability of the entrepreneur and so an innovative financial contract, named...