In his 1984 paper in Management Science, McEntire conjectured that all concave utility functions satisfy his independence-from-irrelevant-assets (IIA) property. This paper shows that this conjecture is false. The paper provides several families of utility functions, all of whose members violate...

We consider the problem of determining the optimal operating policy of a two terminal shuttle with fixed capacity Q \le \infty . The passengers arrive at each terminal according to Poisson processes and are transported by a single carrier operating between the terminals. The interterminal travel...

In this paper we consider a transportation system consisting of a carrier with capacity Q \le \infty , operating between two terminals. Passengers arrive at these terminals according to independent Poisson processes and are transported by the carrier from one terminal to the other terminal....