This paper considers the problem of changing prices over time to maximize expected revenues in the presence of unknown demand distribution parameters. It provides and compares several methods that use the sequence of past prices and observed demands to set price in the current period. A Taylor...

This note corrects an error in van Nunen and Puterman (van Nunen, J. A. E. E., M. L. Puterman. 1983. Computing optimal control limits for GI/M/s queueing systems with controlled arrivals. Management Sci. 29 725--734.) and extends some of their results to the average reward case.

Every week, motion picture exhibitors must decide whether to keep or replace the movies playing in their theaters in light of the past week's sales data. This decision is complex because of the dynamic decision environment, the uncertainty of demand, the complex revenue-sharing terms between the...

Seeking to reduce the potential impact of delays on radiation therapy cancer patients such as psychological distress, deterioration in quality of life and decreased cancer control and survival, and motivated by inefficiencies in the use of expensive resources, we undertook a study of scheduling...

This paper considers the problem of changing prices over time to maximize expectedrevenues in the presence of unknown demand distribution parameters. It providesand compares several methods that use the sequence of past prices and observeddemands to set price in the current period. A Taylor...

We analyze cross-sectional patent data using a finite mixed Poisson regression model with covariates in Poisson rates and mixing probabilities. Maximum likelihood estimation based on the EM and quasi-Newton algorithms, a model selection procedure, residual analysis and goodness-of-fit tests are...

In this paper we study a class of modified policy iteration algorithms for solving Markov decision problems. These correspond to performing policy evaluation by successive approximations. We discuss the relationship of these algorithms to Newton-Kantorovich iteration and demonstrate their...

We consider a GI/M/s queuing system that is controlled by either accepting or rejecting arriving customers. Under weak conditions on the cost structure, Stidham (Stidham, S., Jr., 1978. Socially and individually optimal control of arrivals to a GI/M/1 queue. Management Sci. 24 1598--1610.)...

We consider two-echelon supply chains with one supplier and two retailers. Retailers are censored newsvendors facing general parametric demand distributions involving unknown parameters. Using a Bayesian MDP formulation, we investigate how the supplier can make use of the combined information...