This paper shows that an ARMA demand generates an ARMA order history when ordering decisions are made based on an order-up-to policy. The order history preserves the autoregressive structure of the demand and transforms its moving average structure according to a simple algorithm. We apply this...

This research investigates compound causes of the bullwhip effect (BWE) by considering an inventory system with multiple price-sensitive demand streams. Joint price and demand dynamics are captured by a vector time-series process that incorporates the stochastic co-movements in price and demand....

This sequel to A Life of Experimental Economics, Volume I, continues the intimate history of Vernon Smith’s personal and professional maturation after a dozen years at Purdue. The scene now shifts to twenty-six transformative years at the University of Arizona, then to George Mason University,...

This sequel to A Life of Experimental Economics, Volume I, continues the intimate history of Vernon Smith's personal and professional maturation after a dozen years at Purdue. The scene now shifts to twenty-six transformative years at the University of Arizona, then to George Mason University,...