Many models in economics and operations research can be formulated as Variational Inequalities (VI) problems. In this paper, we introduce an equivalence relation called ordinal equivalence transformation (OET) on VI, which has the property of preserving the solution set of VI. We revisit many

This paper develops an unbiased Monte Carlo estimator of the transition density of a multivariate jump-diffusion process. The drift, volatility, jump intensity, and jump magnitude are allowed to be state-dependent and non-affine. It is not necessary that the volatility matrix can be diagonalized

Many contemporary large-scale applications involve building interpretable models linking a large set of potential covariates to a response in a nonlinear fashion, such as when the response is binary. Although this modeling problem has been extensively studied, it remains unclear how to effectively

To cook a delicious dish, three (3) components are required—good cooking materials, good kitchen cookware, and good cooking skills. This is the same as doing a Big Data research. To do a good job in Big Data analysis, a reliable data is your material, a powerful computer is your cookware, and the

Identification through heteroskedasticity in heteroskedastic simultaneous equations models (HSEMs) is considered. The possibility that heteroskedasticity identifies the structural parameters only partially is explicitly allowed for. The asymptotic properties of the identified parameters are

Start-up companies play an important role in innovation and many of them have become the leaders of their fields. With limited capital and human resources, start-up companies face a range of challenges in managing their research and development (R&D) projects. This presentation covers three

Social media platforms for healthcare services are changing how patients choose doctors. The digitization of healthcare reviews has enabled patients to thoroughly evaluate doctors before booking an appointment, and has increased the transparency of the relationship between patients and doctors. In

We create a quality value chain network concept to analyze the impact of supply chain quality (SCQ) on the customer lifetime value (CLV). We apply our framework to a rich dataset from a major restaurant chain utilizing text analysis of the complaints to measure SCQ, a two-stage least squares (2SLS)

We consider the dynamic pricing and rationing policy of a firm facing strategic customers under the influence of shortage effect. We provide conditions under which it is optimal for the firm to ration. We also identify the necessary and sufficient conditions for the existence of steady state. We

The issue of allocating capacity to accommodate emergent surgery cases while scheduling elective patients has major policy implications for Level-1 trauma centers including most large academic medical centers. This is because operating rooms (ORs) are the greatest source of revenues for hospitals,