P ayment for cancer care will change radically over the next decade as the nation struggles to hold down health care costs, experts told an early October Institute of Medicine forum, Delivering Affordable Cancer Care in the 21st Century. Traditional fee-for-service medicine, in which oncology reimbursement relies disproportionately on profits from expensive chemotherapy drugs, will give way to ...

If adopted by EPA, proposed new regulations on stack emissions will force many utilities with coalfired boilers to reduce their NOx emissions to levels which are substantially lower then can be achieved with current low NOx burner technology. To meet these requirements, some utilities are anticipating the need to use selective catalytic reduction (SCR) for NOx control. New SCR catalysts under d...

Under the assumptions of the market of Black and Scholes, options are redundant since, through the classic Black-Scholes delta hedging argument, they can be replaced by an equivalent combination the risky asset underlying the option and a risk free asset. We show that options are not redundant when small proportional transaction costs of size ε are added to the model, which provides mathematica...