I recently had a consultation call with a client. We discussed whether he should go home to India to be closer to his family and accept an arranged marriage or stay in the United States and try to ...

Residual value is the estimated value of an asset at the end of its useful life. It's used to figure out things like the value of a car at the end of a lease or how much equipment is worth after it's ...

We consider the value of information when the decision-maker is averse to risk, and identify a bound on the maximal amount that the decision-maker is willing to pay to completely reduce uncertainty.