Estimation of the covariance matrix of asset returns is crucial to portfolio construction. As suggested by economic theories, the correlation structure among assets differs between emerging markets and developed countries. It is therefore imperative to make rigorous statistical inference on...

This article reports on a marketing initiative at a pharmaceutical company to redesign its distribution network. Distribution affects a firm's cost and customer satisfaction and drives profitability. Using a nonlinear mixed-integer programming model, the authors develop a distribution network...

We propose and analyze the first model for clinical trial design that integrates each of three important trends intending to improve the effectiveness of clinical trials that inform health-technology adoption decisions: adaptive design, which dynamically adjusts the sample size and allocation of...

Using airlines as a backdrop, we study optimal overbooking policies with endogenous customer demand, when customers internalize their expected cost of being bumped. We first consider the traditional setting in which compensation for bumped passengers is fixed and booking limits are the airline's...