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Performance based contracting (PBC) emerges as a new after-sales service practice to support the operation and maintenance of capital equipment or systems. Under the PBC framework, the goal of the study is to increase the system operational availability while minimizing the logistics footprint...
Persistent link: https://www.econbiz.de/10010574177
We investigate the value of accounting for demand seasonality in inventory control. Our problem is motivated by discussions with retailers who admitted to not taking perceived seasonality patterns into account in their replenishment systems. We consider a single-location, single-item periodic...
Persistent link: https://www.econbiz.de/10010785318
paper, we propose an inventory model that explicitly acknowledges uncertainty over stationary and non-stationary demand …
Persistent link: https://www.econbiz.de/10011076744
Electricity producers participating in electricity markets face risks pertaining to both selling prices and the availability of the production units. Among electricity derivatives, options represent an adequate instrument to manage these risks. In this paper, we propose a multi-stage stochastic...
Persistent link: https://www.econbiz.de/10010588010
A bi-level, three-stage Stochastic Mathematical Program with Equilibrium Constraints (SMPEC) is proposed for quantifying and optimizing travel time resilience in roadway networks under non-recurring natural or human-induced disaster events. At the upper-level, a sequence of optimal preparedness...
Persistent link: https://www.econbiz.de/10011077935
decades. However, uncertainty about the progress of necessary infrastructure investments, public acceptance and cost … of dispatchable power plants. Speci cally, uncertain future RES-E deployment paths induce uncertainty about the steepness …
Persistent link: https://www.econbiz.de/10010991545
This paper develops and applies a method for decomposing cross section variability of earnings into components that are forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of variability in returns to schooling is...
Persistent link: https://www.econbiz.de/10005822068
Although economic agents routinely face various types of economic uncertainty, their effects are often unclear and hard … to assess, in part due to the absence of suitable measures of uncertainty. Because of the numerous and very substantial … their periods of uncertainty, moreover, these countries have experienced sharply falling fertility rates. Some have argued …
Persistent link: https://www.econbiz.de/10005822407
earnings variability are due to uncertainty and which components are due to components of human diversity that are forecastable …
Persistent link: https://www.econbiz.de/10005822493
Optimal layoff rules in closed form are derived for all workers in a firm that downsizes under uncertainty and faces … aircraft building company that went bankrupt in 1996 shows that workers with high uncertainty associated with higher than …
Persistent link: https://www.econbiz.de/10005822776