Companies know the amount of profit they make, but may not know whether they are operating on the uphill side or downhill side of the profit function with respect to each marketing investment variable. We first identify the risks of an uphill-located firm acting as if it were a downhill-located firm. Then, we develop a diagnostic tool to infer a company’s type based on its location on the profi...

We propose a new methodology to estimate empirically the input price-induced technical change and total factor productivity (TFP) growth in China. Our primary goal is test Hicks’ induced innovation hypothesis by examining whether China has been sharp increase prices that have accompanied its rapid economic growth. Utilizing idea of firm’s two-stage optimization problem, we develop parametric fo...

Part of the ongoing debate between Cantor and Land and Greenberg centers on differing opinions about the question of interest in Cantor and Land (1985). We begin this article with our opinion that Cantor and Land’s theory relates changes in the business cycle to changes in the aggregate rate of crime. We then question whether year-to-year changes adequately reflect changes in the business cycle...

Changing economic conditions make the selling price and demand quantity more and more uncertain in the market. The conventional inventory models determine the selling price and order quantity for a retailer’s maximal profit with exactly known parameters. This paper develops a solution method to derive the fuzzy profit of the inventory model when the demand quantity and unit cost are fuzzy numbe...

Any modern industrial manufacturing unit inevitably faces problems of vagueness in various aspects such as raw material availability, human resource availability, processing capability and constraints and limitations imposed by marketing department. Such a complex problem of vagueness and uncertainty can be handled by the theory of fuzzy linear programming. In this paper, a new fuzzy linear pro...

This study models a joint pricing, inventory, and preservation decision-making problem for deteriorating items subject to stochastic demand and promotional effort. The generalized price-dependent stochastic demand, time proportional deterioration, and partial backlogging rates are used to model the inventory system. The objective is to find the optimal pricing, replenishment, and preservation t...