We consider a mean-reverting risk-neutral short rate process model with a vector of subordinated drift processes that accounts for the random effect of the arrival of new information. It is assumed that the market is efficient with no arbitrage opportunities. Closed form expressions for the...

The process of testing a sample of a patient's blood against units of blood from inventory to ensure compatibility is called crossmatching. When a physician orders blood, it is crossmatched and then held for a patient. As a precautionary measure, physicians tend to order blood in excess of the...

A prominent feature of wage contracting in the United States is the "bunched" timing pattern that is often associated with the process of pattern bargaining. The model describes the bunching of wage contracts as the equilibrium outcome of decentralized decisions in an economy composed of both...