Fix a domain\mathcal S ⊂ R^ k (our solvency region) and let Y (t)= Y^(u)(t) be a stochastic
process of the form d Y (t) &= b (Y (t), u (t)) d t+ σ (Y (t), u (t)) d B (t)\nonumber\&\quad+ ∫ …

This study presents a policy planning model that integrates learning curve information on
renewable power generation technologies into a dynamic programming formulation …

We study optimal bank capital choice as a dynamic trade‐off between the opportunity cost of
equity, the loss of franchise value following a regulatory minimum capital violation, and the …

Abstract Between January 2016 and January 2020, bitcoin were on average 2.27% more
expensive in Korea than in the United States, a fact commonly referred to as the Kimchi …

This paper analyses a real options model of mergers and takeovers between two firms
experiencing different, but correlated, uncertainty. It is assumed that mergers do not just lead …

Strategic investments such as flexible manufacturing technology yield benefits to a company
beyond the immediate cash flows. These strategic benefits can be captured, to some …

In this paper we develop a real options approach to evaluate the profitability of investing in a
battery bank. The approach determines the optimal investment timing under conditions of …

We consider impulse control problems in finite horizon for diffusions with decision lag and
execution delay. The new feature is that our general framework deals with the important …

This study investigates the effects of uncertainty in time-to-build and regulation, which
hinders immediate revenue generation after investment, on a firm's optimal investment …

This paper examines the relationship between growth and growth volatility for a small open
economy with high growth volatility: Turkey. Quarterly data for the period from 1987Q1 to …