This paper considers the production planning problem of a firm that produces a single product using a process that has multiple production lines (or machines) in parallel, each with a finite production capacity. Specifically, the firm has m parallel production lines, each with capacity of P...

Environmental and energy independence concerns lead to government subsidies for electric vehicles (EVs). Operational decisions for a government are i) to incentivize EV ownership by a direct consumer subsidy, a station subsidy that reduces charging inconvenience, or by both subsidies; and ii) to...

We explore buyback contracts in a supplier-retailer supply chain where the retailer faces a price-dependent downward-sloping demand curve subject to uncertainty. We formulate the problem as a supplier-led Stackelberg game and derive explicitly the equilibrium contract parameters along with the...

Miller and Modigliani (1961) consider valuation of infinite horizon firms that may not engage in purchasing their own shares. While their fundamental valuation approach applies also to firms that purchase their own shares, their stream of dividends approach does not. The latter approach is...

This paper obtains decision and forecast horizons for undiscounted, continuous-time one-dimensional control systems. Some general conditions for the existence of horizons arising from the constraints imposed on the system are derived by using the optimality principle. These conditions are...

We solve an agent's optimization problem of meeting demands for cash over time with cash deposited in bank or invested in stock. The stock pays dividends and uncertain capital gains, and a commission is incurred in buying and selling of stock. We use a stochastic maximum principle to obtain...

Critics of the Forrester-Meadows models; of population and economic growth limits have focused their attention on the excessive aggregation of the model, on its exceedingly conservative assumptions regarding technological change and, particularly, on its alleged failure to consider the extent to...

We generalize the concept of K-convexity to an n-dimensional Euclidean space. The resulting concept of K-convexity is useful in addressing production and inventory problems where there are individual product setup costs and/or joint setup costs. We derive some basic properties of K-convex...

We consider a cooperative advertising channel consisting of a manufacturer selling its product through a retailer in competition with another independent retailer. The manufacturer subsidizes its retailer's advertising only when a certain threshold is positive. Moreover, the manufacturer's...

Cooperative advertising is an incentive offered by a manufacturer to influence retailers' promotional decisions. We study a dynamic durable goods duopoly with a manufacturer and two independent and competing retailers. The manufacturer as a Stackelberg leader announces his wholesale prices and...