We propose a new type of repairman model in which failures may require multiple repair operations, each done by a specialized repair crew. These repair operations may occur simultaneously. An analysis of the model is carried out using diffusion approximation techniques. The analysis predicts...

This paper reports some new closed-form formulas of financial valuation for a deterministic firm with general financing policies and a time-dependent discount rate. A model of the firm is described which includes the price-dividend-balance integral equation whose solution yields the time path of...

This paper provides a rigorous mathematical treatment of the problem of valuation of a firm in a deterministic, partial equilibrium framework. It is shown that the dividend and arbitrage approaches to valuation are not equivalent in general. A necessary and sufficient condition for their...

This paper deals with the problem of the financial valuation of a firm and its shares of stock with given financing policies in a general stochastic environment. A model of the firm is described which includes the price-dividend balance integral equation whose solution yields the time path of...

This paper deals with the problem of the financial valuation of a firm and its shares of stock with general financing policies in a partial equilibrium framework. The model assumes a time-dependent discount rate and a general stochastic environment in a discrete-time setting. the fundamental...