This paper examines the conditions for which ramp metering can be bene®cial to the overall system in terms of travel time savings for a simple trac corridor that consists of a freeway and a set of parallel arterials connected by entrance ramps. The focus is on analyzing state and control relationships to arrive at general analytical results regarding optimal metering policies, rather than on e...

This paper surveys the literature on the macroeconomic effects of government debt. It begins by discussing the data on debt and deficits, including the historical time series, measurement issues, and projections of future fiscal policy. The paper then presents the conventional theory of government debt, which emphasizes aggregate demand in the short run and crowding out in the long run. It next...

Abstract. This paper considers the Merton portfolio management problem. We are concerned with non-exponential discounting of time and this leads to time inconsistencies of the decision maker. Following [6] we introduce the notion of equilibrium policies and we characterize them by an integral equation. The main idea is to come up with the value function in this context. If risk preferences are ...

Article history: Received January 22 2014 Received in Revised Format June 6 2014 Accepted June 18 2014 Available online June 23 2014 Marketing strategies and proper inventory replenishment policies are often incorporated by enterprises to stimulate demand and maximize profit. The aim of this paper is to represent an integrated model for dynamic pricing and inventory control of deteriorating ite...

This paper studies the optimal level of discretion in policymaking. We consider a fiscal policy model where the government has time-inconsistent preferences with a present-bias towards public spending. The government chooses a fiscal rule to trade off its desire to commit to not overspend against its desire to have flexibility to react to privately observed shocks to the value of spending. We a...

In India, where energy access is limited, how does the public react to the government’s inability to provide the citizens with basic energy services, such as electricity and clean cooking fuel? We answer this question using a survey conducted in two rural villages of Uttar Pradesh. First, we examine the association between a respondent’s opinion on state intervention and policy failure. Specifi...

Authorization of access to resources is typically viewed as being the responsibility of the applications that access specific resources. This leads to incoherent implementation of security within an organization as the protection of a resource becomes dependent upon the path through which it is accessed. This paper proposes that authorization be provided as a service that is utilized by applica...

The last few years have seen an explosive growth of the e-service offered over the Internet. E-service provision is evolving from a centralized model to a distributed and dynamic one. Identity, rights, non-repudiation, access control and QoS are extremely important aspects in such a distributed e-service framework. This paper briefly describes our distributed trust model that underpins the e-se...

The Policy and Charging Control (PCC) architecture was firstly introduced in the 3GPP’s Release 7. However, the PCC has its problems. The main problems include the incapability of performing policy control with consideration of subscriber profiles and missing specification on how to organize and express the policy information. In addition, no policy control at application session establishment ...

In this paper, we propose feedback designs for manipulating a quantum state to a target state by performing sequential measurements. In light of Belavkin’s quantum feedback control theory, for a given set of (projective or nonprojective) measurements and a given time horizon, we show that finding the measurement selection policy that maximizes the probability of successful state manipulation is...