Consider the inventory placement problem in an N-stage supply system facing a stochastic demand for a single planning period. Each stage is a stocking point holding some form of inventory (e.g., raw materials, subassemblies, product returns or finished products) that after a suitable...

A host of recent studies show that attention allocation has important economic consequences. This paper reports the first empirical test of a cost-benefit model of the endogenous allocation of attention. The model assumes that economic agents have finite mental processing speeds and cannot...

The standard economic choice model assumes that the decision maker chooses from <i>sets</i> of alternatives. In contrast, we analyze a choice model in which the decision maker encounters the alternatives in the form of a <i>list</i>. We present two axioms similar in nature to the classical axioms of choice...