Due to the preference of satiation (of the profit target) over maximization (of expected profit) in uncertain situations, the newsboy problem with the satiation objective is an important practical problem. In the multi-product setting, practically usable solution methods are available only for...

Meeting the prot target is often preferred over maximizing expected prot in uncertain business environments. Research into the newsboy problem with satiation objective started quite early. However, the progress has been slow, particularly in the multi-product setting. We study the general...

Quality of decisions in inventory management problems depends on accuracy of parameter estimates used for decision making. In many situations, error in decision making is unavoidable. In such cases, understanding sensitivity of objective function to sub-optimal decisions is necessary for better...

Sensitivity analysis is an integral part of inventory optimization models due to uncertainty associated with estimates of model parameters. Though the newsboy problem is one of the most researched inventory problems, very little is known about its robustness. We study sensitivity of expected...

Preference of satiation of a target performance over maximization of expected performance in uncertain situations is well-documented in the economics literature. However, the newsboy problem with satiation (of a prot target) objective has not received its due attention. In the multi-product...

Quality of decisions in inventory management models depends on the accuracy of parameter estimates used for decision making. In many situations, error in decision making is unavoidable. In such cases, sensitivity analysis is necessary for better implementation of the model. Though the newsvendor...

Behavioral experiments conducted so far to establish existence of endowment effect as propounded by prospect theorists typically endow subjects with a single good. In this paper we depart from this setting by giving subjects initial endowment bundles which consist of two goods: chocolates and...

Real corporate governance requires tough financial regulators which effectively work to safeguard investors’ interests in securities and endeavour to create a proper environment for the securities market to develop. The financial regulators – Securities and Exchange Board of India, SEBI in...

In this paper, we study the mechanism of dynamic pricing of electricity and its opportunities in the Indian context. We compare the economic efficiency of dynamic pricing vis-à-vis the traditional flat tariff of electricity. We analyse various ways in which dynamic tariff can be introduced in...

For a country like India, which is committed to the rule of law, the role of police is undergoing changes very rapidly. It is primarily due to the fact that the country has transformed from a police state to welfare state since independence in 1947, and thereafter since India became a Republic...