Municipal bonds are often “advance refunded.” Bonds that are not yet callable are defeased by creating a trust that pays the interest up to the call date, and pays the call price. New debt, generally at lower interest rates, is issued to fund the trust. Advance refunding has zero net present value in the case of no uncertainty and no fees, otherwise the transaction destroys value. We estimate t...

Due to the impact of online payment on the development of e-commerce, this article seeks to deepen the current understanding about the determinants of online payment method choice. Based on an extensive literature review, we identified perceived trustworthiness of the seller and perceived product uncertainty as major determinants, and we theorize that product type, product price, and product de...

The product life cycle of a deteriorating is an important consideration in inventory management. This paper simultaneously investigates the optimum pricing and decisions considering cycles under price-dependent demand advance payment systems with discount facility. A time-dependent holding cost also introduced. objective to carefully balance critical decision variables order maximize total prof...

it has been tried to compare the “price payment method” in iranian law with “principles of international commercial contracts” and “convention on contracts for international sale of goods vienna, 1980” in this study. different law regulations in various countries should be unified in order to extend rapid and insured trusted law relations among the nations and people all over the world because ...

Younger generations comprise an essential segment for the mobile payment market to prosper. However, empirical evidence of drivers/barriers young generation’s adoption has been inconclusive. This study intends advance body knowledge on this subject based extended Unified Theory Acceptance and Use Technology (UTAUT), incorporating risk perception bonus/rewards provided by mobile-pay firms. To en...

The recent Common Agricultural Policy (CAP) reform of the financial support mechanism for farms was introduced in 2005. According to this reform, the level of support that each farm receives is paid regardless of the current level of production. The decoupling of direct payments is expected to change production decisions, as farmers will change their mainly subsidy revenue maximization objectiv...

We consider the k-payment problem: given a total budget of N units, represent this budget as a set of coins, so that any k exact payment requests of total value at most N can be made using k disjoint subsets of the coins. The goal is to minimize the number of coins for any given N and k The actual payments are made on-line, namely without knowing all payment requests in advance. Our motivation ...

Near field communication has enabled customers to put their credit cards into a smartphone and use the phone for credit card transaction. But EMV contactless payment allows unauthorized readers to access credit cards. Besides, in offline transaction, a merchant's reader cannot verify whether a card has been revoked. Therefore, we propose an EMV-compatible payment protocol to mitigate the transa...