This paper investigates the intermodal equilibrium, road toll pricing, and bus system design issues in a congested highway corridor with two alternative modes - auto and bus - which share the same roadway along this corridor. On the basis of an in-depth analysis of the demand and supply sides of...

As demand for proactive real-time transportation management systems has grown, major developments have been seen in short-time traffic forecasting methods. Recent studies have introduced time series theory, neural networks, genetic algorithms, etc., to short-time traffic forecasting to make...

Supply interruptions resulting from unpredictable events, such as machine breakdowns, order cancellations, unscheduled maintenance, and labor strikes can produce adverse effects on the production/inventory system. In this article, we consider a periodic-review inventory system subject to random...

In this paper we consider the dividend payments and capital injections control problem in a dual risk model. Such a model might be appropriate for a company that specializes in inventions and discoveries, which pays costs continuously and has occasional profits. The objective is to maximize the...

This work develops asymptotically optimal dividend policies to maximize the expected present value of dividends until ruin. Compound Poisson processes with regime switching are used to model the surplus and the switching (a continuous-time controlled Markov chain) represents random environment...

Nowadays, the regime switching model has become a popular model in mathematical finance and actuarial science. The market is not complete when the model has regime switching. Thus, pricing the regime switching risk is an important issue. In Naik (1993), a jump diffusion model with two regimes is...

The paper studies a discrete counterpart of Gerber et al. (2006). The surplus of an insurance company (before dividends) is modeled as a time-homogeneous Markov chain with possible changes of size + 1, 0, - 1, - 2, - 3, .... If a barrier strategy is applied for paying dividends, it is shown...