We prove convex ordering results for random vectors admitting a predictable representation in terms of a Brownian motion and a non-necessarily independent jump component. Our method uses forward-backward stochastic calculus and extends the results proved in [4] in the one-dimensional case. We also study a geometric interpretation of convex ordering for discrete measures in connection with the c...

This study analyzes an inventory control problem of a company in stochastic demand environment under carbon emissions regulations. In particular, a continuous review inventory model with multiple suppliers is investigated under carbon taxing and carbon trading regulations. We analyze and compare the optimal (Q,R) policies with order splitting under two ordering policies: sequential ordering and...

We consider a class of stochastic impulse control problems of linear diffusions arising in studies considering the determination of optimal dividend policies and in studies analyzing the optimal management of renewable resources. We derive a set of weak conditions guaranteeing both the existence and uniqueness of the optimal policy and its value by relying on a combination of the classical theo...

Poverty measures are used to measure poverty levels or degrees of poverty in a population. Stochastic dominance refers to a set of relations between distributions. Stochastic dominance orders of poverty measures have been discussed by many authors in the literature. In this paper, definition of stochastic dominance is introduced and used to order poverty measures. Hypotheses testing on stochast...

This paper reviews the literature of partial poverty orderings. Partial poverty orderings require unanimous poverty rankings for a class of poverty measures or a set of poverty lines. The need to consider multiple poverty measures and multiple poverty lines arises inevitably from the arbitrariness inherent in poverty comparisons. In the paper, we first survey the ordering conditions of various ...

This paper generalizes the notion of stochastic order to a relation between probability measures over arbitrary measurable spaces. This generalization is motivated by the observation that for the stochastic ordering of two stationary Markov processes, it suffices that the generators of the processes preserve some, not necessarily reflexive or transitive, subrelation of the order relation. The m...

Given a stochastic ordering between point processes, say that a p.p. N is smooth if it is less than the Poisson process with the same average intensity for this ordering. In this article we investigate whether initially smooth processes retain their smoothness as they cross a network of FIFO /D/1 queues along xed routes. For the so-called strong variability ordering we show that point processes...

The ≼Φ stochastic comparison (≼Φ∈ {≼st, ≼wk, ≼wk∗}) of multidimensional Continuous Time Markov Chains (CTMC)s is an efficient but a complex method for the performability evaluation of computer systems. Different techniques can be applied for the stochastic comparison of Markov chains. The coupling is an intuitive method, and may be applied by comparing the evolution of sample paths due to event...