The exact analysis of optimal ordering policies for periodic-review perishable inventory systems is challenging because their high-dimensional state space arising from multiple interrelated decisions over many periods and age distributions on-hand products. We develop a new marginal framework to approximate this complex multiple-decision model into single-decision with an externality term, whic...

The tourism sector in Madeira represents 26.6% of the regional GDP and 16.7% employment region. However, is a source adverse environmental impacts. One repercussions tourism, regarded as an externality, generation solid waste. This paper aims to estimate impact tourist activities on waste for period 1996–2018. We used fully modified ordinary least squares (FMOLS) model, including annual inflows...