I ran Insurance Company intends to raise its financial credit and render enhanced services to the insured and the public. The need to meet financial obligations arising from the claims requires determination of the optimum deposited claims reserve with banks. Therefore, the present research study aimed at finding the loss ratio (incurred losses to premiu...

Conventional rules of thumb represent simple, but potentially inefficient, alternatives to dynamic programming solutions. This paper seeks an intermediate ground by developing a framework for selecting optimal rules of thumb. Defining rules of thumb as simple functions of state variables, I solve for the optimal parameters of specific rules of thumb for portfolio choice and consumption. In the ...

JEL classification: C51 C52 G11

This paper studies the question of maximizing terminal wealth from expected utility in a multidimensional jump-diffusion model. The special feature of our approach is that the investor only observes the vector of stock prices, therefore leading to a partial information framework. Using non-linear filtering and change of measure techniques, we show that the optimization problem can be rewritten ...

This introduces the symposium on financial economics. JEL Classification Codes: G01, G02, G11, G12, G18, G21, G23, G28

Article history: Received 6 February 2008 Accepted 14 May 2008 Available online 20 May 2008 JEL classification: C63 G11 G31 G39

Article history: Received 29 July 2008 Accepted 29 August 2008 Available online 5 September 2008 JEL classification: G11 G10 C61 G19

Article history: Received 7 May 2012 Received in revised form 6 November 2012 Accepted 9 November 2012 Available online 17 November 2012 JEL classification: D81 Q40 G11

abstract this paper proposes an approach to find an optimum structure for educational levels of human forces. to this end, a linear programming (lp) model integrated with a social accounting matrix (sam) was employed. the integrated model was employed using the sam of golestan province of iran. it was demonstrated that when unemployment is the result of inconsistency between supply and demand f...