This note corrects an error in van Nunen and Puterman (van Nunen, J. A. E. E., M. L. Puterman. 1983. Computing optimal control limits for GI/M/s queueing systems with controlled arrivals. Management Sci. 29 725--734.) and extends some of their results to the average reward case.

The use of credit scoring - the quantitative and statistical techniques to assess the credit risks involved in lending to consumers - has been one of the most successful if unsung applications of mathematics in business for the last fifty years. Now with lenders changing their objectives from...

Credit scoring is one of the most successful applications of statistical and management science techniques in finance in the last forty years. This unique collection of recent papers, with comments by experts in the field, provides excellent coverage of recent developments, advances and aims in...

This paper derives a Markov decision process model for the profitability of credit cards, which allows lenders to find an optimal dynamic credit limit policy. The states of the system are based on the borrower's behavioural score and the decisions are what credit limit to give the borrower each...