Cache replacement policies are developed to help insure optimal use of limited resources. Varieties of such algorithms exist with relatively few that dynamically adapt to traffic patterns. Algorithms that are tunable typically utilize offline training mechanisms or trial-and-error to determine optimal characteristics. Utilizing multiple algorithms to establish an efficient replacement policy th...

The real option management of commodity storage assets is an important practical problem. Practitioners heuristically solve the resulting stochastic optimization model using the rolling intrinsic (RI) and rolling basket of spread options (RSO) policies. Combined with Monte Carlo simulation, these policies typically yield near optimal lower bound estimates on the value of storage. This paper pro...

Using a small macroeconometric model that examines the determinants of India’s trade and inflation, this paper addresses the effects of a reform policy package similar to those implemented in 1991. Policy simulations using dynamic simulation method compare the responses to devaluation with the responses to tight credit policy. It is shown that the trade balance effects of tight credit policy ar...

Canada's universal public healthcare system is unique among developed countries insofar as it does not include universal coverage of prescription drugs. Universal, public coverage of prescription drugs has been recommended by major national commissions in Canada dating back to the 1960s. It has not, however, been implemented. In this article, we extend research on the failure of early proposals...

A new set of boundary-handling algorithms has been developed for discrete wavelet transforms in the ISO/IEC JPEG-2000 Still Image Coding Standard. Two polyphase component extrapolation policies are specified: a constant extension policy and a symmetric extension policy. Neither policy requires any computations to generate the extrapolation. The constant extension policy is a low-complexity opti...

I solve in closed form for the optimal dynamic risk choice of a fund manager who is compensated with a high-water mark contract. The optimal risk choice depends on the ratio of the fund’s assets under management to its high-water mark. If the manager’s outside option value is low, investors’ termination policy is strict, or management fees are high, then negative returns induce the manager into...

The 1996 Telecommunications Act opened the monopolistic U.S. local telephone industry to new entrants. However, substantial entry costs have prevented some markets from becoming competitive. We study various subsidy policies designed to encourage entry. We estimate a dynamic entry game using data on both potential and actual entrants, allowing for heterogeneous option values of waiting. We find...

BACKGROUND Policy analysis is often retrospective and not well suited to helping policy makers decide what to do; in contrast prospective policy analysis seeks to assist in formulating responses to challenging public policy questions. Suicide in Sri Lanka is a major public health problem, with ingestion of pesticides being the primary method. Previous policy interventions have been associated w...

Driven by policy changes and technological advancement, wind power installations are booming as compared to any other types of power generation. However, the increased penetration of renewable generation in the power systems has resulted in high level of curtailment. Advanced energy storage technologies have been increasingly scrutinized as a feasible mitigation option in smart grids. This pape...

 The results of this analysis suggest that the reimbursement restriction proposed by the ODPRN would generate additional costs to other areas of the healthcare system.  The burden of the policy change could completely offset savings and generate costs of up to $1 million to the healthcare budget.  No chart review or formal assessment was conducted to demonstrate or quantify inappropriate use...