We introduce a simple numerical algorithm to study banking systems subject to credit risk. The algorithm is based on a model that is completely defined by only two parameters. We start with a ...

Global warming has put a significant strain on resources, and hence, economic opportunities, military considerations, and trade. The development of Arctic shipping routes is necessary to compensate ...

The firm faces technological uncertainty associated with the success of the R&D effort and market uncertainty about the stochastic revenue flow generated by the new product. Our model departs from ...

Spectral methods are very efficient numerical algorithms for solving partial differential equations in relatively simple geometries. The numerical errors introduced by spectral algorithms typically ...

Internationally acclaimed Tsinghua University has signed a cooperate agreement for a campus-wide license with Numerical Algorithms Group (NAG), a not-for-profit organization that collaborates with ...