We consider the determination of an optimal dividend policy in the presence of cash flow uncertainty and transaction costs. We state a set of weak conditions under which the optimal dividend policy can be explicitly characterized for a broad class of diffusions modelling the underlying cash flow...

Este estudio confronta dos tipos de modelos de expectativas de inflación: un enfoque multivariante (considera combinaciones de distintas variables económicas como predoctoras de inflación) y un enfoque univariante (considera distintos rezagos de la variable objeto de la predicción). Tras...

This study develops a real options approach for analyzing the optimal risk adoption policy in an environment where the adoption means a switch from one stochastic flow representation into another. We establish that increased volatility does not necessarily decelerate investment, as predicted by...

We analyze the determination of a value maximizing dividend payout policy for a broad class of cash reserve processes modeled as spectrally negative jump diffusions. We extend previous results based on continuous diffusion models and characterize the value of the optimal dividend distribution...

We consider the optimal sequential irreversible investment policy of a value maximizing firm facing decreasing returns to scale and interest rate uncertainty. We characterize the optimal accumulation policy and its value for a broad class of diffusion models of the short interest rate by...

We analyze the determination of a value maximizing dividend payout policy for a broad class of cash reserve processes modeled as spectrally negative jump diffusions. We extend previous results based on continuous diffusion models and characterize the value of the optimal dividend distribution...

This report describes the implementation of the regulation layer maneuvers for the hierarchical architecture in SmartPath. The report contains information regarding the simulation of automated vehicle control laws in the SmartPath environment. It also provides an overview of the set of maneuvers...

This report addresses the problem of designing safe controllers for the hybrid system composed by the interaction of the regulation and coordination layers in the hierarchical California PATH Automated Highway System (AHS) architecture. Conditions to achieve safe platooning under normal mode of...