Consider a dynamic decision making model under risk with a fixed planning horizon, namely the dynamic capacity control model. The model describes a firm, operating in a monopolistic setting and selling a range of products consuming a single resource. Demand for each product is time-dependent and modeled by a random variable. The firm controls the revenue stream by allowing or denying customer r...

The paper derives saddlepoint expansions for conditional expectations in the form of E[X |Y = a] and E[X|Y ≥ a] for the sample mean of a continuous random vector (X,Y) whose joint moment generating function is available. Theses conditional expectations frequently appear in various applications, particularly in quantitative finance and risk management. Using the newly developed saddlepoint expan...

Nowadays, it lacks an open, standardized and dynamic interconnection of medical devices. All existing combinations of medical devices consist of isolated solutions with proprietary interfaces, as no common standards for networking and the exchange of data of medical devices exist. This situation leads to confusing operating rooms and inefficient operations. Thus, new strategies need to be devel...

This paper presents a generic, high-level risk assessment of the global operation of ocean-going liquefied natural gas (LNG) carriers. The analysis collects and combines information from several sources such as an initial hazid, a thorough review of historic LNG accidents, review of previous studies, published damage statistics and expert judgement, and develops modular risk models for critical...

Multiple attribute decision making is an important part of modern decision science. It has been extensively applied to various problems. There are several methods for this decision making problem. Based on TOPSIS method and Gray relational analysis method, this paper presents a combined approach to the multi­attribute group decision making. Finally, an...

The focus of this study was to investigate the relationship between: (1) information communication technology (ICT) operational risk management (ORM) and (2) performance of small to medium enterprise (SME). To achieve the focus, the research investigated five specific research objectives that included the principal causes of ICT ORM failure in SME: change management requirements; characteristic...

in this paper, we present a revised similarity measure based onchen-and-chen's similarity measure for fuzzy risk analysis. the revisedsimilarity measure uses the corrected formulae to calculate the centre ofgravity points, therefore it is more  effective than the chen-and-chen'smethod. the revised similarity measure can overcome the drawbacks of theexisting methods. we have also proposed a new ...

precise identification of the risks of power plants as a part of a comprehensive safety analysis is recommended by monitoring organizations. assessment and risk management techniques in industrial activities through the use of preventive approach to identify hazards , assess and control safety - health risks unit is studied. in this study, risks and effects of abadan gas power plant were studie...

According to the nature of their activities, banks are exposed to various types of risks. Hence, risk management is at the heart of financial institutions management. In this study, we intend to summarize the information content of bank financial statements on diverse risks faced by banks and then determine how stock markets react to bank's risk management behavior. The methodology used in this...