In this paper, we address the problem in which a manufacturer in a supply chain supplies a product to two competing retailers. Both retailers, facing customer returns, must decide on prices for the product. The manufacturer is a Stackelberg leader in the supply chain and the two retailers decide...

Acetyl esterase was produced by a bacterial strain RB3 at a level of 0.59 U mL−1. The strain was isolated from beef cattle rumen fluid under anaerobic condition, and was identified as Escherichia coli. The peak activity of the enzyme appeared after 48 h of culturing under anaerobic...

A review of recent evidence on relative earnings from entrepreneurship versus wage work presents a puzzle: why do individuals become entrepreneurs when entrepreneurs on average apparently earn less than employees? After considering several potential explanations, we empirically analyze one:...

The article is devoted to investigating some fundamentals about a residue cracking gasification (RCG) process for petroleum residues which integrates the catalytic cracking of the residue and the gasification of the cracking-generated coke. Three heat carrier particles were tested to show their...

We present a unified analytical theory of production and capital structure of firms. It is extended from an analytical theory of production, whose main result is an analytical formula of variable cost of production as a function of fixed cost and uncertainty. Problems on capital structure can be...

We study mechanism design in non-Bayesian settings of incomplete information, when the designer has no information about the players, and the players have arbitrary, heterogeneous, first-order, and possibilistic beliefs about their opponents' payoff types.

Tremendous effort has been spent on the construction of reliable efficient frontiers. However, mean-variance efficient portfolios constructed using sample means and covariance often perform poorly out of sample. We prove that, the capital market line is the efficient frontier for the risky...