This paper studies the optimal mortgage choice of an investor in a simple bond market with a stochastic interest rate and access to term life insurance. The study is based on advances in stochastic control theory, which provides analytical solutions to portfolio problems with a stochastic interest rate. We derive the optimal portfolio of a mortgagor in a simple framework and formulate stylized ...

By adopting a real options framework, we develop and analyze a production based valuation model that jointly incorporates process and market risks. Given this setting, techniques of contingent claims analysis and stochastic control theory are employed to obtain value maximizing operating policies in a constrained capacity environment. In our analysis, adjustments to operating policies are analo...

Usually, in monitoring schemes the nominal value of the process parameter is assumed known. However, this assumption is violated owing to costly sampling and lack of data particularly in healthcare systems. On the other hand, applying a fixed control limit for the risk-adjusted Bernoulli chart causes to a variable in-control average run length performance for patient populations with dissimilar...

Introduction: Dementia, the fifth cause of death in older adults with the most significant financial, social and caring burden on health systems across the world. Aim: to determine the most common medical risk factors for dementia in the retired population. Methods: A case-control methodology was utilized for this study, within which 180 established dementia patients compared to 371 controls ...

Introduction: A cleft lip with or without a cleft palate is one of the major congenital anomalies observed in newborns. This study explored the risk factors for oral clefts in Gorgan, Northern Iran.  Materials and Methods: This hospital-based case-control study was performed in three hospitals in Gorgan, Northern Iran between April 2006 and December 2009. The case group contained 33 newborns...

Background: Breast cancer incidence has increased rapidly inKuwait, but there haven’t been any studies investigating the recognized risk factors of breast cancer inKuwait. The aim of the study was to investigate breast cancer risk factors among women inKuwait. Methods: A case-control study was conducted in Kuwait from May 2003 to March 2004 using a questionnaire including socio-demographic data...

Control charts are widely used in industrial processes as well as in health sciences and particularly for monitoring the performance of cardiac surgeon or a group of surgeons based on the preoperative risk of patients. Since the preoperative risk is a vague and nonprecise variable and the anesthesiologists after checking how many risk factors a patient has, determine the risk of mortality befor...

1. The first step in any risk assessment is risk analysis—identifying and evaluating the sources of risk. 2. Once sources of risk have been identified, the next step is risk assessment, namely to assess the potential damage. If it is large enough, we move to risk management—to put in place a plan that reduces the threat posed by the risk. Risk management involves taking steps to reduce the prob...