Streams of research are emerging that emphasize the advantages of using declarative process modeling languages over more traditional, imperative approaches. In particular, the declarative modeling approach is known for its ability to cope with the limited flexibility of the imperative approach. However, there is still not much empirical insight into the actual strengths and the applicability of...

We propose a stochastic programming approach for quantitative analysis of supply contracts, involving flexibility, between a buyer and a supplier, in a supply chain framework. Specifically, we consider the case of multi-periodic contracts in the face of correlated demands. To design such contracts, one has to estimate the savings or costs induced for both parties, as well as the optimal orders ...

In this paper we consider the probabilities of finiteand infinite-time absolute ruin in the renewal risk model with constant premium rate and constant force of interest. In the particular case of compound Poisson model, explicit asymptotic expressions for the finiteand infinite-time absolute ruin probabilities are given. For the general renewal risk model, we present an asymptotic expression fo...

In this paper; survival (non-ruin) probability after a definite time period of an insurance company is studied in a discrete time model based on nonhomogenous claim occurrences. Furthermore, distributions of the minimum and maximum levels of surplus in compound binomial risk model with nonhomogeneous claim occurrences are obtained and some of its characteristics are given.

Following is a quote from [3]. Stochastic differential equations provide a link between probability theory and the much older and more developed fields of ordinary and partial differential equations. Wonderful consequences flow in both directions. The stochastic modeler benefits from centuries of development of the physical sciences, and many classic results of mathematical physics (and even pu...

Motivated by the wide applications of distortion function and copulas in insurance and finance, this paper generalizes the notion of deterministic distortion function to a stochastic distortion function, i.e., a random process, and employs the defined stochastic distortion function to construct a so-called stochastic distorted copula. One method for constructing stochastic distortions is provid...

Let {Xk, k ≥ 1} be a sequence of independent, identically distributed nonnegative random variables with common distribution function F and finite expectation μ > 0. Under the assumption that the tail probability F(x) = 1−F(x) is consistently varying as x tends to infinity, this paper investigates precise large deviations for both the partial sums Sn and the random sums SN(t), where N(·) is a co...

A common assumption for many process-centred support environments is that they provide the same process support at different levels of the organization. We believe that the required process support from one level to another of an organization varies. In this paper we propose a framework that divides process support into three levels: Individual, group and team level. Further, we characterize ea...

Process mining aims to discover, enhance or check the conformance of activity-oriented process models from event logs. A new field of research, called intention mining, recently emerged. This field has the same objectives as process mining but specifically addresses intentional process models (processes focused on the reasoning behind the activities). This paper aims to highlight the difference...

Cross-organizational mining is a new research field in the process mining domain, which focuses on the analysis and mining of processes in multiple organizations. Suitable access to collections of business process variants is necessary for researchers to evaluate their work in this research domain. To the best of our knowledge, no complete collection of process variants or any process variants/...