For continuous time birth-death processes on {0,1,2,...}, the first passage time T+n from n to n + 1 is always a mixture of (n + 1) independent exponential random variables. Furthermore, the first passage time T0,n+1 from 0 to (n + 1) is always a sum of (n + 1) independent exponential random...

We investigate a two-part tariff licensing contract that enables an incumbent innovator to license the technology for a new product to a potential rival, who may alternatively develop a compatible technology for an imperfectly substitutable product. We identify the optimal two-part tariff...

It is known that the first passage time of a birth death process from n to n+1 has a completely monotone density, however, the discrete analogue for a simple random walk does not hold. In this paper, first passage times of simple random walks from n to n+1 and from 0 to n are characterized. This...

Consider a data communication network owned and operated by a single organization. The network has an infinite number of small users and is managed by a system manager (SM) whose objective is to maximize the net value of the system as a whole. The objective of this paper is to study pricing...

Bottleneck analysis is a useful tool in capacity planning for centrally controlled network systems. However, under a decentralized network where individual users are allowed to select their own routes, straightforward application of bottleneck analysis does not necessarily yield an optimal...

Photovoltaic (PV) has the highest cost reduction potential among all renewable energy sources (RES). To overcome institutional barriers, developing the technology, and creating an initial market, policies are needed. Comparative case studies of Japan and German PV sector from 1990 to 2011 were...