The present article introduces the concept of generalized calls (options whose value at expiry can be any function of the difference between the price of the underlying security and the striking price) and presents some of the properties of such options through the use of absence of stochastic...

This paper provides a computational technique for the evaluation of the distribution of the net present value (NPV) of an investment, in which the cash inflows occur at random time points, as in the case of venture capital. The initial cash outlay is deterministic and the magnitudes of the cash...

The purpose of this paper is to define an optimal replacement policy for identical components performing different functions in a given system, when one spare part is available. It is assumed that the failure law of the component and of the spare part is known and that the mission of the system...