In this paper, we present a unified approach to study a class of cooperative games arisingfrom inventory centralization. The optimization problems corresponding to the inventory games are formulated as stochastic programs. We observe that the strong duality of stochastic linear programming not...

We consider the economic lot-sizing (ELS) game with general concave ordering cost.In this cooperative game, multiple retailers form a coalition by placing joint orders to asingle supplier in order to reduce ordering cost. When both the inventory holding costand backlogging cost are linear...

We consider the problem of finding a low{rank approximate solution to a system of linearequations in symmetric, positive semidefinite matrices. Specifically, let A1; : : : ;Am 2 Rnpound;n symmetric, positive semidefinite matrices, and let b1; : : : ; bm cedil; 0. We show that if there exists a...

We consider a supply chain where the quality level can be observed by the buyer(s) onlyafter the purchase is completed (experience good). If the delivered quality is below the levels agreed in the contract, the buyer(s) may take action to seek remedy, but this effort is costly. Obviously, this...

We study the buyer-seller relationship in a supply chain from the perspective of quality. In particular, weexamine situations where quality levels of the product can be observed, yet, conformance cannot be enforcedunless the buyer engages in costly, legally-binding activity, which we call audit....

Internationalization has been widely studied throughout the years. Broadly, it has been predicted as irrevocable and having increasing impact on firm-related strategy. Within entry modes, consortium, has not received as much attention as others. Hence, it seems important to understand how this...

This paper examines the ability of beta and size to explain cross-sectional variation in average returns in twelve European countries. We find that average stock returns are positively related to beta and negatively related to firm size. The beta premium is in part due to the fact that high beta...

This paper analyzes a model of fund managers' reputation concerns. It explains why "Nickel strategies" (strategies that earn small positive returns most of the time but occasionally lead to dramatic losses) are more popular among managers than the opposite "Black Swan strategies," (strategies...

This paper begins with the expectations theory of the term structure of interest rates with constant term premia and then postulates how expectations of future short term interest rates are formed. Expectations depend in part on predictions from a set of VAR equations and in part on the current...

Investors face significant barriers in evaluating the performance of hedge funds and commodity trading advisors (CTAs). The only available performance data comes from voluntary reporting to private companies. Funds have incentives to strategically report to these companies, causing these data...