Optimal stopping is a sub-field of probability theory that is present within mathematical finance, mathematical statistics, stochastic calculus and other disciplines. In mathematical finance, one well known problem is the pricing of an American put option. In this thesis we first give a brief review of some general optimal stopping theory, its connection to free-boundary problems and we then ex...

Considering the large amount of work that goes into the design of LNG processes there is surprisingly little attention to the subsequent operation. This probably comes from the misconception that optimal design and optimal operation is the same, but this is usually not true. In this paper we are studying optimal operation of a relatively simple LNG process, namely the PRICO process.

The investment in small hydropower plants requires the analysis of hydrological, technical, operational, budgetary, economical and financial aspects. The analysis of each possible configuration demands the joint action of several technicians, consuming substantial time and money. During initial design of the project, simplified procedures are usually adopted which may compromise the quality of ...

In this work we apply the FDA proposed precision criteria necessary for pediatric pharmacokinetic studies (Wang et. al., 2012) as a stopping criteria for a model based adaptive optimal design (MBAOD) of an adult to children pharmacokinetic bridging study. We demonstrate the power of the MBAOD compared to both traditional designs as well as non-adaptive optimal designs.