This paper revisits the least squares estimator of the linear regression with a structural break. We view the model as an approximation to the true data generating process whose exact nature is unknown but perhaps changing over time either continuously or with some jumps. This view is widely...

This paper presents a model of a multi-divisional firm to share the joint yet uncertain and fixed cost of running a central operational unit. A firm aims at allocating this cost ex ante, subject to constraints imposed by the asymmetric and limited liabilities of the different divisions. We study...

The effective management of uncertainty and complexity in premium pricing and reserve accumulation processes provide new challenges to the decision- and policy- makers. In this regard, the implementation of complex mathematical tools and advanced statistical techniques is highly acquired. Over...