Stochastic volatility models have revolutionised the field of option pricing by allowing the volatility of an asset to vary randomly over time rather than remain constant. These models have ...

The modeling of buyer behavior by stochastic brand choice models has typically involved the use of a single model to represent the behavior of all consumers though consumer heterogeneity is recognized ...

This article considers the consequences of explicitly allowing for stochastic technological progress and stochastic labor input in the discrete-time Solow-Swan and AK growth models. It shows that the ...