In the Cramér-Lundberg model and its di usion approximation, it is a classical problem to nd the optimal dividend payment strategy that maximizes the expected value of the discounted dividend payments until ruin. One often raised disadvantage of this approach is the fact that such a strategy does not take the life time of the controlled process into account. In this paper we introduce a value f...

3 This paper presents a case study of successful ERP implementation in two phases. The second phase included significant efforts to align the business strategy and organizational structure along with the information system components. These efforts enabled the organization to complete its alignment cycle by integrating its IT infrastructure and processes with the organizational infrastructure a...

Joint modeling is increasingly popular for investigating the relationship between longitudinal and time-to-event data. However, numerical complexity often restricts this approach to linear models for the longitudinal part. Here, we use a novel development of the Stochastic-Approximation Expectation Maximization algorithm that allows joint models defined by nonlinear mixed-effect models. In the ...

This paper considers an EM (expectation-maximization) based scheme for record value statistics (RVS) models in software reliability estimation. The RVS model provides one of the generalized modeling frameworks to unify several of existing software reliability models described as non-homogeneous Poisson processes (NHPPs). The proposed EM algorithm gives a numerically stable procedure to compute ...

The article introduces a control model of company’s market value factors on the basis of infrastructural representation of an innovative enterprise. In this model, factors are compared to indices that are used in strategic development decision-making. Infrastructural representation of the control object of an enterprise’s innovative activities (EIA) is implemented with the value maximization co...

On the basis of uncertainty theory, plenty of researches have been done on uncertain resource-constrained project scheduling problems. Instead of minimizing the makespan, in this paper, we address the maximization of net present value of a project’s cash flows when activity durations are assumed to be uncertain. In addition to precedence constraint and resource constraint involved in resource-c...

Abstract We model a part of a process in pulp to paper production using Bayesian mixture density networks. A set of parameters measuring paper quality is predicted from a set of process values. In most regression models, the response output is a real value but in this mixture density model the output is an approximation of the density function for a response variable conditioned by an explanato...

Nearly fifteen years ago, Google unveiled the generalized second price (GSP) auction. By all theoretical accounts including their own [29], this was the wrong auction — the Vickrey-Clarke-Groves (VCG) auction would have been the proper choice — yet GSP has succeeded spectacularly. We give a deep justification for GSP’s success: advertisers’ preferences map to a model we call value maximization;...

Classical economic models are predicated on the idea that the ultimate aim of choice is to maximize utility or reward. In contrast, an alternative perspective highlights the fact that adaptive behavior requires agents' to model their environment and minimize surprise about the states they frequent. We propose that choice behavior can be more accurately accounted for by surprise minimization com...

ÐA new method for the representation, recognition, and interpretation of parameterized gesture is presented. By parameterized gesture we mean gestures that exhibit a systematic spatial variation; one example is a point gesture where the relevant parameter is the two-dimensional direction. Our approach is to extend the standard hidden Markov model method of gesture recognition by including a glo...