This paper studies the planning problem faced by a machine shop required to produce many different items so as to meet a rigid delivery schedule, remain within capacity limitations, and at the same time minimize the use of premium-cost overtime labor. It differs from alternative approaches to...

Using an illustration drawn from the area of inventory control, this paper demonstrates how a typical sequential probabilistic model may be formulated in terms of (a) an initial decision rule and (b) a Markov process, and then optimized by means of linear programming. This linear programming...

For a self-financing business enterprise (or for an underdeveloped economy subject to constraints on the availability of foreign investment funds), three theorems are presented. Each result is based upon the assumption that the firm's investment opportunities follow constant returns-to-scale,...

An exploration of the margin of error entailed in using a "one-point move" algorithm for solving a class of fixed-charge problems. The algorithm is of interest both from the viewpoint of numerical analysis and also from the analogy with market mechanisms. Despite the presence of...

When dealing with multiple greenhouse gases, we need some way to establish equivalence among gases. The Intergovernmental Panel on Climate Change (IPCC) has suggested the use of global warming potentials (GWPs) for making such trade-offs. We begin by examining the implications of such an...

This paper is designed to show how a typical sequential probabilistic model may be formulated in linear programming terms. In contrast with Dantzig and Radner, the time horizon here is an infinite one. For another very closely related study, the reader is referred to a paper by R. Howard. The...

This article explores some of the options by which the U.S. could move away from its present heavy dependence upon oil and gas toward a more diversified energy economy. Through nonlinear programming, our model incorporates both own- and cross-price elasticities of demand. In this way, it allows...