The first analytical stochastic and dynamic model for optimizing transit service switching is
proposed for “smart transit” applications and for operating shared autonomous transit fleets …

The objective of this research is to examine and compare the mean reversion phenomenon
in developed and emerging stock markets. An important aim is to measure and compare the …

We report on the findings of five controlled experiments that test the effectiveness of
proposed interventions aiming to improve both the process and outcomes of decision …

Extreme precipitation caused by global climate change is expected to have a severe impact
on urbanized areas. While decision‐makers struggle with climate uncertainty, an effective …

We propose a dynamic investment model to study investment behavior for power grid-
stabilizing, flexibility-providing energy projects. Our model adds to the literature in several …

Persistence in the literature is the perception of an inherent tradeoff between ecological
conservation and economic harvesting goals. Overexploitation may lead to resource …

We derive an optimal decision rule with regards to making an irreversible switch from oil to
gas production. The approach can be used by petroleum field operators to maximize the …

This paper focuses on the variance risk premium of project returns and its impacts on the
real options to expand and to abandon a project. Variance risk premium measures the …

We develop a complete analysis of a general entry–exit–scrapping model. In particular, we
consider an investment project that operates within a random environment and yields a …

This paper studies the evolution of China's exchange rate policy using real options theory.
With intervention costs and ongoing uncertainty, intervention involves the exercise of an …