This edited volume contains 16 research articles and presents recent and pressing issues in stochastic processes, control theory, differential games, optimization, and their applications in finance, manufacturing, queueing networks, and climate control. One of the salient features is that the book is highly multi-disciplinary. Another distinct characteristic of the book is that all papers are motivated by applications in which optimization, control, and stochastics are inseparable. This book will be a timely addition to the literature and will be of interest to people working in the aforementioned fields. Most importantly, this volume is dedicated to Professor Suresh Sethi on the occasion of his 60th birthday, in view of his distinguished career, his contributions and achievements, and his influence on the areas of control theory and applications, operations research, and management science, as well as his dedication to the scientific community. TOC:Preface.- S.P. Sethi's curriculum vitae.- TCP-AQM Interaction: periodic optimization via linear programming.- Explicit solutions of linear quadratic differential games.- Extended generators of Markov processes and applications.- Control of manufacturing systems with delayed inspection and limited capacity.- Admission control in the present of priorities: a sample path approach.- Some bilinear stochastic equations with a fractional Brownian motion.- Two types of risk.- Optimal production policy in a stochastic manufacturing system.- A stochastic control approach to optimal climate policies.- Characterization of just-in-time sequencing via apportionment.- Linear stochastic equations in a Hilbert space with a fractional Brownian motion.- Hedging options with transaction costs.- Supply portfolio selection and execution with demand information updates.- A regime-switching model for European options.- Pricing American put options using stochastic optimization methods.- Optimal portfolio application with double-uniform jump model.- Index.
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