This is an erratum on my paper quot;A Note on Modeling Simple Dynamic Cash Balance Problemsquot; published in The Journal of Financial and Quantitative Analysis, Vol. 8, No. 4 (Sep., 1973), pp. 685-687

A comparison of and the relationship between the Ito and Stratonovich formulations of stochastic integration is given. It is argued that generally the Ito formulation is appropriate for problems of finance and economics. The Black-Scholes option pricing problem is discussed in both frameworks...

We study the problem of optimal staged purchases of electricity in time-sequential deregulated electricity markets. In recent years, the electricity industry has been deregulated and multiple time-sequential auction markets, such as the block forward, the day-ahead and the hour-of, and the...