Herein, we consider direct Markov chain approximations to the Duncan-Mortensen-Zakai equations for nonlinear filtering problems on regular, bounded domains. For clarity of presentation, we restrict our attention to reflecting diffusion signals with symmetrizable generators. Our Markov chains are...

Between 1995 and 2007, inflation-adjusted house prices more than doubled in some areas of the U.S. During this unprecedented boom, households spent more and reduced their saving rate. A key question is how much of the increased spending was related to rising house prices, as opposed to other...

This paper, analyzes the allocation problem of customers in a discrete-time multi-server queueing system and considers two criteria for routing customers' selections: equilibrium and social optimization. As far as we know, there is no literature concerning the discrete-time multi-server models...

In this paper, we study customer equilibrium as well as socially optimal strategies to join a queue with only partial information on the service time distribution such as moments and the range. Based on such partial information, customers adopt the entropy-maximization principle to obtain the...

Accurate power generation forecasting provides the basis of decision making for electric power industry development plans, energy conservation and environmental protection. Since the power generation time series are rarely purely linear or nonlinear, no single forecasting model can identify the...

Major transmission projects are needed to integrate and to deliver renewable energy (RE) resources. Cost recovery is a serious impediment to transmission investment. A negotiation methodology is developed in this study to guide transmission investment for RE integration. Built on Nash bargaining...

We find that most husbands claim Social Security before the ages that maximize the expected present value of their benefits. Although household benefits are only slightly reduced, the expected present value of widows’ benefits reduces by 17.7%, increasing their risk of poverty.

Monthly forecasting of electric energy consumption is important for planning the generation and distribution of power utilities. However, the features of this time series are so complex that directly modeling is difficult. Three kinds of relatively simple series can be derived when a discrete...