This paper proposes a percolation-based model of new-product diffusion in the spirit of Solomon et al. (2000) and Goldenberg et al. (2000). A consumer buys the new product if she has formed her individual valuation of the product (reservation price) and if this valuation is greater or equal than the price of the product announced by the firm in a given period. Our model differs from previous pe...

Decision making consists of choosing among available options on the basis of a valuation of their potential costs and benefits. Most theoretical models of decision making in behavioral economics, psychology, and computer science propose that the desirability of outcomes expected from alternative options can be quantified by utility functions. These utility functions allow a decision maker to as...

Probabilistic timed automata can be used to model systems in which probabilistic and timing behaviour coexist. Verification of probabilistic timed automata models is generally performed with regard to a single reference valuation π0 of the timing parameters. Given such a parameter valuation, we present a method for obtaining automatically a constraint K0 on timing parameters for which the reach...

Because of the lack of markets for many environmental services, economists have turned to valuation surveys to estimate the value of these services. However, lack of market experience may cause respondents in valuation surveys to be more prone to interview effects than they would be with other opinion surveys. Without reference to market price or experience, respondents are less likely to have ...

BACKGROUND The conventional method for modeling of the five-level EuroQol five-dimensional questionnaire (EQ-5D-5L) health state values in national valuation studies is an additive 20-parameter main-effects regression model. Statistical models with many parameters are at increased risk of overfitting-fitting to noise and measurement error, rather than the underlying relationship. OBJECTIVES T...

There is a growing literature that promotes the notion of process heterogeneity in the way that individuals evaluate packages of attributes in real or hypothetical markets and make choices. Empirical evidence suggests that individuals use a number of processing strategies such as cancellation, referencing, and attribute aggregation, the latter occurring where there is a common metric. In this p...

In this paper two different methods are presented to approximate the solution of the fractional Black-Scholes equation for valuation of barrier option. Also, the two schemes need less computational work in comparison with the traditional methods. In this work, we propose a new generalization of the two-dimensional differential transform method and decomposition method that will extend the appli...