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The second part of the thesis focuses on a different stochastic problem of finding the optimal hedging points in a manufacturing flow control system. Our simulation-based method allows solving large scale systems that are considered very difficult to solve by current standards in the literature.
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We optimize the design of a frequency reward program against traditional pricing in a competitive duopoly, where … traditional pricing merchant. Under this model, we characterize the customer behavior: the loyalty bias increases the switching … against traditional pricing …
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