The objective of this study is to evaluate the costs and benefits of different demand risk sharing rules for road infrastructure concessions, from the point of view of the economic attractiveness of the projects for the concessionaire and the price reduction for users. The traffic trajectory of...

In this paper, we explore a dynamical version of by Aoki and Yoshikawa model (AYM) for an economy driven by demand. We show that when an appropriate Markovian dynamics is taken into account, AYM has different equilibrium distributions depending on the form of transition probabilities. In the...

In this paper, the authors explore a dynamical version of the Aoki and Yoshikawa model (AYM) for an economy driven by demand. They show that when an appropriate Markovian dynamics is taken into account, the AYM has different equilibrium distributions depending on the form of transition...

This paper presents a new stochastic multidimensional scaling procedure for the analysis of three-mode, three-way pick any/ J data. The method provides either a vector or ideal-point model to represent the structure in such data, as well as “floating” model specifications (e.g., different...

In many firms the pricing and inventory control functions are separated. However, a number of theoretical models suggest a joint determination of inventory levels and prices, as prices also affect stocking risks. In this work, we address the problem of simultaneously determining a pricing and...

Research in the area of stochastic models for actuarial use in South Africa is limited torelatively few publications. Until recently, there has been little focus on actuarialstochastic models that describe the empirical stochastic behaviour of South Africanfinancial and economic variables. A...

(Note: Abridged abstract) Income contingent loans (ICL) are policy instruments that can enable participation in activities that yield both public and private benefits, with repayment conditions that promote equity, remove the risk of loan default, smooth consumption, and thus increase utility...

In this paper, we consider the gradual covering problem when the coverage radius, is determined by a random variable with distinct distribution functions. In this model, it is assumed that the certain amount of coverage radius is not available and the potential coverage radius is used. Model...

Human mobility and, in particular, commuting patterns have a fundamental role in understanding socio-economic systems. Analysing and modelling the networks formed by commuters, for example, has become a crucial requirement in studying rural areas dynamics and to help decision-making. This paper...