With the increasing interest in decision support systems and the continuous advance of computer science, revenue management is a discipline which has received a great deal of interest in recent years. Although revenue management has seen many new applications throughout the years, the main focus...

Abstract This paper studies decision rules for accepting reservations for stays in a hotel based on deterministic and stochastic mathematical programming techniques. Booking control strategies are constructed that include ideas for nesting, booking limits and bid prices. We allow for multiple...

A risk-averse irrigated corn producer would be better off choosing the more expensive subsurface drip irrigation (SDI) over center-pivot sprinkler (CPS), given limited aquifer life and swine effluent and urea fertilization. A stochastic optimization using EPIC data maximized expected utility of...

The effects of phosphorus (P)-based nutrient management plans on economic and environmental risks of dairy and dairy-poultry farms in Virginia were evaluated. Phosphorus-based nutrient management plans can greatly reduce P runoff risk but also reduce farmers' returns. P-based plans cause greater...

Cotton ginning represents an agribusiness that is heavily dependent on production agriculture. Recent changes in farm legislation and other government policies may have a long run impact on the variability of cotton production. This paper examines the potential impacts of increased production...

The value of an innovative seed technology is estimated in a discrete stochastic programming framework for a representative farm in the northern Corn Belt. Temperature-activated polymer-coated seed has the potential to increase net returns by increasing yields due to early planting and use of...

All agricultural sector models must deal with aggregation and calibration somehow. The aggregation problem involves treating a group of producers as if they all responded in the same way as a single representative unit. The calibration problem concerns making a model reproduce as closely as...

An analytical framework is proposed for analysis of environmental good production by farmers in the case of price uncertainty. Environmental good production contracted by means of agri-environmental agreements is treated as a risk less option in the farmer's production activities portfolio....

A comparison of decision rules has been made for case studies of corn production using subsurface drip irrigation under three agricultural management practices (no irrigation, uniform irrigation, and variable rate irrigation). The uniform irrigation strategy appeared to perform the best than the...