This paper presents an analytical model for choosing optimal investment schedules for the development of new systems under various types of risk. Two modes of risk reduction are considered. In the first mode, risk is reduced by gathering information through prototype building or sequential development, where risky parameters are assumed to have unknown but fixed values. The second mode involves...

China has legislated a mixed social security pension system with a defined benefit pay-as-you-go portion and an investment-based defined contribution portion. This paper analyzes the economics of these two types of systems in the Chinese context and calculates the advantage to China of using an investment-based portion. Several options for reform of the recently legislated system are considered...

This study models a joint pricing, inventory, and preservation decision-making problem for deteriorating items subject to stochastic demand and promotional effort. The generalized price-dependent stochastic demand, time proportional deterioration, and partial backlogging rates are used to model the inventory system. The objective is to find the optimal pricing, replenishment, and preservation t...

Transition of the former communist countries of Central and Eastern Europe (CEE) to functioning market economies creates new investment opportunities. A decade ago capital markets were almost absent in all CEE countries but they are developing rapidly. At the end of the 1990s institutional investors from Western countries are present in the equity and bond markets of the largest CEE economies. ...

In recent years, information technology (IT) companies have faced fierce competition across dynamic environments; as such, ways of enhancing organizational performance and obtaining competitive advantage through IT investment have become important issues for academia and businesses. Further, time delays between IT investment transfers and actual market performance make measuring the impact of I...

In tlus paper we consider an investment strategy called dollar-cast-averaging (DCA). It is well known that the argument in favor of DCA is flawed: an investor cannot get something for nothing. Probabilists have made tltis type of flaw precise with theorems like the optional sampling theorem or, more generally, the martingale system theorem (see e.g. [4]). It is interesting that the usual martin...

Prefabricated construction, a new direction for the future development of the Chinese construction industry, can maximize the requirements of “green”. As a new form of green building, prefabricated construction is of particular interest. On account of the immature development of the green building market in China, the investment risk for prefabricated construction is higher than for traditional...

one of the most important strategies for governments to increase the efficiency of different economic sectors, including public services such as water, is to protect and strengthen the private sector. bot and boo contracts are among the most common and popular procedures of development of participation and investment from private sector. in this context, providing a good basis for the selection...