We discuss the social welfare improvement under centralized and decentralized hierarchies and focus on supervisoris ability to monitor quality. Although the possibility of collusion against the principal is eliminated under decentralized hierarchy, the decentralization is dominating only if...

In this paper we present how statistical experimental design, time series analysis and non-linear dynamic models have been applied to gain a deeper insight into BTA-deep-hole drilling process. BTA-deep-hole drilling process is used to produce long holes of a length to diameter ratio larger than...