On the Bail-Out Optimal Dividend Problem

This paper studies the optimal dividend problem with capital injection under the constraint that the cumulative dividend strategy is absolutely continuous. We consider an open problem of the general spectrally negative case and derive the optimal solution explicitly using the fluctuation identities of the refracted-reflected L\'evy process. The optimal strategy as well as the value function are concisely written in terms of the scale function. Numerical results are also provided to confirm the analytical conclusions.Comment: To appear in Journal of Optimization Theory and Applications. Keywords: stochastic control, scale functions, refracted-reflected L\'evy processes, bail-out dividend proble

Aggregating opinions in non-uniform ordered qualitative scales

Producción CientíficaThis paper introduces a new voting system in the setting of ordered qualitative scales. The process is conducted in a purely ordinal way by considering an ordinal proximity measure that assigns an ordinal degree of proximity to each pair of linguistic terms of the qualitative scale. Once the agents assess the alternatives through the qualitative scale, the alternatives are ranked according to the medians of the ordinal degrees of proximity between the obtained individual assessments and the highest linguistic term of the scale. Since some alternatives may share the same median, an appropriate tie-breaking procedure is introduced. Some properties of the proposed voting system have been provided.Ministerio de Economía, Industria y Competitividad (Project ECO2016-77900-P