The choice of what services to provide to customers is a problem of strategic significance to most companies, yet this is a decision which is often taken in an arbitrary fashion for purely qualitative and subjective reasons. The decision made here can have serious repercussions in many areas of...

In many cases it is not appropriate to utilise a system of daily route scheduling. This paper looks at the situation where a fixed route system is required and the demand characteristics of the customers must be matched to the system.

The Omega ratio is a recent performance measure proposed to overcome the known shortcomings of the Sharpe ratio. Until recently, the Omega ratio was thought to be computationally intractable, and research was focused on heuristic optimization procedures. We have shown elsewhere that the Omega...

In this paper we capture the implied distribution from option market data using a non-recombining (binary) tree, allowing the local volatility to be a function of the underlying asset and of time. The problem under consideration is a non-convex optimization problem with linear constraints. We...