Inventory management is concerned with matching supply with demand and a central problem in Operations Management. The problem is to find the amount to be produced or purchased in order to maximize the total expected profit or minimize the total expected cost. Over the past two decades, several variations of the formula appeared, mostly in trade...

Using the modern approach, the...

​This book collects some recent developments in stochastic control theory with applications to financial mathematics. We first address standard stochastic control problems from the viewpoint of the recently developed weak dynamic programming principle. A special emphasis is put on the regularity issues and, in particular, on the behavior...

"This book presents a large number of probabilistic aspects of cryptographic systems . All the classical statistical tests on random sequences are motivated and precisely detailed here. This book is surely a valuable companion to the NIST standard reference ." (Jérémie Bourdon, Mathematical...

Online auctions are an increasingly important marketplace, as the new mechanisms and formats underlying these auctions have enabled the capturing and recording of large amounts of bidding data that are used to make...

- Solution of complex mathematical problems such as, differential equations, minimization/optimization, or high-dimensional...

This textbook on the basics of option pricing is accessible to readers with limited mathematical training. It is for both professional traders and undergraduates studying the basics of finance. Assuming no prior knowledge of probability, Sheldon M. Ross offers clear, simple explanations of arbitrage, the Black-Scholes option pricing formula,...