This paper addresses an inter-temporal inventory competition between a supplier (a provider, manufacturer) and a retailer engaged in a supply chain. The paper's focus is on the effect of capacity constraints on both parties when demands are seasonal. The paper provides a comparative study of two...

Building up a supply capacity to meet future and uncertain demands for products is a strategic issue which is both costly and dealt with in numerous approaches. For example, oil and gas contracts, as well as production of fashion goods or production for peak demands (as they recur at Christmas...

This paper addresses the economic efficiency of water production and distribution in a vertical supply chain consisting of a water-provider and a consumer (municipality). The inherent conflicts over stocks and supply costs that emerge among the parties in the water supply chain are modeled as a...

The purposes of this paper are two-fold. On the one hand, we shall provide a decision analysis justification for the Value at Risk (VaR) approach based on ex-post, disappointment decision making arguments. We shall show that the approach is justified by a disappointment criterion. In other...

Risk is shown to be based on both theory and practice. It is shown to be conceptual and technical, blending behavioral psychology, financial economics and decision making under uncertainty into a coherent whole that justify the selection of risky choices. Its applications are also broadly...

This paper considers a pollution and control game which uses a queuing framework. This framework allows an accounting of pollution events, environmental pollution quality and the application of controls to maintain a desirable quality of the environment. A number of examples are used to...

This paper analyzes how faculty members dynamically allocate their efforts between improving their research and teaching skills, taking into account the organizational structures and incentives implemented by academic institutions. The model builds on the assumption that organizational...

This paper analyzes how faculty members dynamically allocate their efforts between improving their research and teaching skills, taking into account the organizational structures and incentives implemented by academic institutions. The model builds on the assumption that organizational...

In the current paper we propose to distinguish between micro and aggregate Laffer functions. We prove that in spite of the fact that a Laffer curve of any representative individual may have one peak point where tax revenue is at its maximum, the aggregate Laffer curve is more likely to have...