This paper analyses the direct and indirect trade volume and trade cost effects of uncertainty on international trade and economic welfare using a structural gravity framework for a panel of 97 developed and developing countries from 2000 to 2018. Our results suggest that an increase in...

The article examines the essence and analyzes the types of marketing risks. The classification of marketing risks by internal and external factors of influence on marketing activity and “4R” marketing tools has been improved. Considerable attention is paid to the role of marketing research...

Enchanting work is a polysemic term that can account for multiple interpretations. It can be defined as a feeling of being connected in an affirmative way to existence. In organizational terms, enchanted workplaces are places of wonder that allow people to be active agents, who can impact on...

In a peer-to-peer complex environment, information is permanently diffused. Such an environment can be modeled as a graph, where there are flows of information. The interest of such modeling is that (1) one can describe the exchanges through time from an initial state of the network, (2) the...

Enchanting work is a polysemic term that can account for multiple interpretations. It can be defined as a feeling of being connected in an affirmative way to existence. In organizational terms, enchanted workplaces are places of wonder that allow people to be active agents, who can impact on...

Making decisions is a key task for leaders and managers. Senior leaders are currently exposed to increasing amounts of data which they must process quickly in our current dynamic world. Complex factors in the business world are not always best approached through an analytical framework. Using...

We propose an accurate data-driven numerical scheme to solve stochastic differential equations (SDEs), by taking large time steps. The SDE discretization is built up by means of the polynomial chaos expansion method, on the basis of accurately determined stochastic collocation (SC) points. By...

In this paper, we present a stochastic optimal control model to optimize an insurance firm problem in the case where its cash-balance process is assumed to be described by a stochastic differential equation driven by Teugels martingales. Noticing that the insurance firm is able to control its...

We define a class of not necessarily linear C0-semigroups (Pt)t≥0 on Cb(E) (more generally, on Cκ(E):=1κCb(E), for some growth bounding continuous function κ) equipped with the mixed topology τM1 for a large class of topological state spaces E. In the linear case we prove that such...

The convolution method for the numerical solution of forward-backward stochastic differential equations (FBSDEs) was originally formulated using Euler time discretizations and a uniform space grid. In this paper, we utilize a tree-like spatial discretization that approximates the BSDE on the...

Solving non-linear parabolic partial differential equations (PDEs) in high dimension becomes an interest for its curse of dimensionality problem. Recently, a deep learning method associated with a backward stochastic differential equation (deep-BSDE) to solve the PDEs draws intensive discussions...

Stochastic Hamiltonian partial differential equations, which possess the multi-symplectic conservation law, are an important and fairly large class of systems. The multi-symplectic methods inheriting the geometric features of stochastic Hamiltonian partial differential equations provide...

Asset allocation and option pricing models are often formulated by means of linear stochastic differential equations. We show that this class of models is not identifiable from information contained in discrete-time data when the expected return process is unobservable. The indeterminacy arises...

We study graphon mean-field backward stochastic differential equations (BSDEs) with jumps and associated dynamic risk measures. We establish the existence, uniqueness and measurability of solutions under some regularity assumptions. For an interacting mean-field particle system with...

For decades, trade between Europe and China has grown consistently, which has resulted in increased container transportation volumes. Such transportation has been dominated by sea-based options. However, over the years, an air-based mode of transport was developed, while it has lately become...

We derive a Hattendorff differential equation and a recursion governing the evolution of continuous and discrete time evolution respectively of the variance of the loss at time t random variable given that the state at time t is j, for a multistate Markov insurance model (denoted by 2σt(j)). We...

This paper considers a mean-variance portfolio selection problem when the stock price has a 3/2 stochastic volatility in a complete market. Specifically, we assume that the stock price and the volatility are perfectly negative correlated. By applying a backward stochastic differential equation...

Nowadays, most shipping companies are aware of the importance of analysing seafarers' work performance. Thus, improving seafarers' work performance or finding out the ways by which seafarers' work performance can be enhanced is becoming one of the decisive factors for the success of any shipping...

We study a small open economy displaying Pareto-distributed wealth resulting from random death. The government runs a distribution scheme on inheritance. We present the mathematical background that allows to study the dynamics of means. We end up with ordinary differential equations for the mean...

In this paper, the discrete schemes of extrapolated block Adams Moulton methods were obtained through the continuous formulation of the linear multistep collocation method by matrix inversion approach for the numerical solutions of first-order delay differential equations (DDEs) without the use...

Theoretical and experimental studies of noncooperative games increasingly recognize Nash equilibrium as a limiting outcome of players' repeated interaction. This note, while sharing that view, illustrates and advocates combined use of convex optimization and differential equations, the purpose...

Using the Hamilton-Jacobi-Bellman equation, we derive both a Keynes-Ramsey rule and a closed form solution for an optimal consumption-investment problem with labor income. The utility function is unbounded and uncertainty stems from a Poisson process. Our results can be derived because of the...