This paper proposes and analyzes a model for maximizing the profit of a product sold under warranty. The decision variables assumed in the model are the price of the product and the length of the period throughout which the manufacturer is responsible for service. The paper focuses on the...

Models are formulated and computed to assess the risks of hazardous materials releases in train derailments in terms of: the probability of any number of fatalities in an accident, the probability of any total number of fatalities from all the accidents in a year, and the frequency of accidents...

In this paper, we present a novel quantitative analysis for the strategic planning decision problem of allocating certain available prevention and protection resources to, respectively, reduce the failure probabilities of system safety measures and the total expected loss from a sequence of...