This paper examines the impact of insurer ratings changes on bond prices. Using insurer ratings from four major rating agencies and data covering the recent financial crisis period, we document that downgrades have a strong negative price impact on bond prices, especially when the downgrades are...

An interactive mathematical programming approach to multi-criterion optimization is developed, and then illustrated by an application to the aggregated operating problem of an academic department.

Stochastic process models of commodity prices are important inputs in energy investment evaluation and planning problems. In this paper, we focus on modeling and forecasting the long-term price level, since it is the dominant factor in many such applications. To provide a foundation for our...

This paper describes the development of an index to evaluate the potential hazard associated with the presence of asbestos in friable insulating material in a building and to recommend the appropriate action to take based on this assessment. The hazard index is determined by the number of...