Nowadays, the rapid growth of the online market poses great challenges for the brick-and-mortar (BM) retailers. In response to this threat, BM retailers exert various service efforts to promote sales in the offline market. This service effort, maybe unintentionally, also increases sales in the...

Managers wish to verify that a particular engineering design meets their requirements. This design's future environment will differ from the environment assumed during the design. Therefore it is crucial to determine which variations in the environment may make this design unacceptable. The...

In this paper, we modify Duan’s (1995) local risk-neutral valuation relationship (mLRNVR) for the GARCH option-pricing models. In our mLRNVR, the conditional variances under two measures are designed to be different and the variance process is more persistent in the risk-neutral measure than...