Lyapunov drift is a powerful tool for optimizing stochastic queueing networks subject to stability. However, the most convenient drift conditions often provide results in terms of a time average expectation, rather than a pure time average. This paper provides an extended drift-plus-penalty result that ensures stability with desired time averages with probability 1. The analysis uses the law of...

In this paper, installment options on the underlying asset which evolves according to Black-Scholes model and pays constant dividend to its owner will be considered. Applying arbitrage pricing theory, the non-homogeneous parabolic partial differential equation governing the value of installment option is derived. Then, penalty method is used to value the European continuous installment call opt...

In this paper, properties of projection and penalty methods are studied in connection with control problems and their discretizations. In particular, the convergence of an interior-exterior penalty method applied to simple state constraints as well as the contraction behavior of projection mappings are analyzed. In this study, the focus is on the application of these methods to discretized cont...

Submitted: May 19, 2013; Accepted: Jun 29, 2013; Published: Aug 07, 2013 Abstract: It is commonly recognized that knowledge is the only source of core competence in the knowledge-based companies, but productivity rate of knowledge worker is always Low. This study seeks to identify factors influence on the productivity. In addition, it presents knowledge workers clusters and measuring productivi...

A WEAKLY OVER-PENALIZED SYMMETRIC INTERIOR PENALTY METHOD SUSANNE C. BRENNER , LUKE OWENS , AND LI-YENG SUNG Abstract. We introduce a new symmetric interior penalty method for symmetric positive definite second order elliptic boundary value problems, where the jumps across element boundaries are weakly over-penalized. Error estimates are derived in the energy norm and the norm for both conformi...

The central issue examined in this paper is this: ,Under what circumstances ought governmentally-imposed standards be favored over other policy instruments? The main points made in this paper are as follows. First, the controversy over whether taxes are preferable to quantitative controls was resolved by demonstrating the formal equivalence of taxes and standards. It is always possible to trans...