We prove existence of Markov Perfect Equilibria (MPE) in nonstationary undiscounted infinite horizon dynamic games, by exploiting a structural property (Uniformly Bounded Reachability) of the state dynamics. This allows us to identify a suitable finite horizon equilibrium relaxation, the ending state Constrained MPE, that captures the relevant features of an infinite horizon MPE for a long enou...

The main purpose of this paper is to study the existence of stationary solution for stochastic partial differential equations. We establish a new connection between backward doubly stochastic differential equations on infinite time horizon and the stationary solution of the SPDEs. For this we study the existence of the solution of the associated BDSDEs on infinite time horizon and prove it is a...

The paper describes a general framework for contingent claim valuation for finance, insurance and general risk management. It considers security prices and portfolios with finite expected returns, where the growth optimal portfolio is taken as numeraire or benchmark. Benchmarked nonnegative wealth processes are shown to be supermartingales. Fair benchmarked values are conditional expectations o...

This paper revisits the conundrum faced when one attempts to understand the dynamics of black hole formation and evaporation without abandoning unitary evolution. Previous efforts to resolve this puzzle assume that information escapes in corrections to the Hawking process, that an arbitrarily large amount of information is transmitted by a planckian energy or contained in a Planck-sized remnant...

The aim of this work is to model a jet diffusion flame, to show the corresponding proof of existence of solutions, and to present numerical results. The model is based on the flamelet equations for the chemistry and on the mixture fraction for the flow. Numerical tests are carried out for Sandia Flame D and the results are found to compare well with available data found in the literature.

We prove a general finite-dimensional reduction theorem for critical equations of scalar curvature type. Solutions of these equations are constructed as a sum of peaks. The use of this theorem reduces the proof of existence of multi-peak solutions to some test-functions estimates and to the analysis of the interactions of peaks.

In the current global market, organizations use many promotional tools to increase their sales. One such tool is sales teams’ initiatives or promotional policies, i.e., free gifts, discounts, packaging, etc. This phenomenon motivates the retailer/or buyer to order a large inventory lot so as to take full benefit of promotional policies. In view of this the present paper considers a two-warehous...