This paper studies the problem of simultaneously smoothing production and inventory and setting advertising levels. The models given are linear programming models, assuming a deterministic demand-advertising-price relationship. The formulations include both one period and multiperiod models....

The problem of simultaneously making price and production decisions for a single product with a known deterministic demand function is considered. The objective is to maximize profit, and backorders are not allowed. Results which reduce the computations necessary for the pricing decision are...

When a demand pattern is dominated by a seasonal effect, the concept of a steady state solution can be used in two ways in aggregate production planning. First, general policy recommendations can be made concerning the use of seasonal workforce changes versus overtime and seasonal inventory....

This paper compares collective and individual production systems’ technical and allocative efficiency. The producers being studied belong to Honduran agrarian reform cooperatives engaging in collective and/or individual maize production. Debreu-Farrell technical efficiency related to...

This paper compares collective and individuals production systems' technical and allocative efficiency. The producers being studied belong to Honduran agrarian reform cooperatives engaging in colective and/or individual maize production. Debreu-Farrell technical efficiency related to stochastic...

As the production of biofuels continues to expand worldwide, criticism about, e.g. the energy output versus input and the competition with food has been questioned. However, biofuels have the possibility to be optimized in order to improve the environmental performance. This could be...

Even though insurers predominantly invest in bonds, credit risk associated with government and corporate bonds has long not been a focus in their risk management. After the crisis of several European countries, however, credit risk has recently been paid greater attention. Nevertheless, the...

Purpose – Interest rate risk, i.e. the risk of changes in the interest rate term structure, is of high relevance in insurers' risk management. Due to large capital investments in interest rate sensitive assets such as bonds, interest rate risk plays a considerable role for deriving the...

Outlier detection is a critical part of data analysis, and the use of Studentized residuals from regression models fit using least squares is a very common approach to identifying discordant observations in linear regression problems. In this paper we propose a bootstrap approach to constructing...