Inventory management involves trade-offs between conflicting objectives such as cost minimization and service level maximization. The trade-off analysis of cycle stock investment and workload, so called the exchange curve, possibly dates back to several decades ago. These analyses seldom formulated inventory trade-offs as a multi-objective optimization problem and their solution procedures were...

[This corrects the article on p. 615 in vol. 11, PMID: 29379424.].

This paper describes an application of agent-based modeling to investigate the effect of a distance-based transaction cost on trade. Long-distance trade is rapidly increasing, but may ultimately be constrained by our ability to move material goods between sellers and buyers. Unlike information exchange, trade in material goods is dependent on the price of oil and vulnerable to future scarcities...

OBJECTIVES Assess the socioeconomic costs of smoking in Lebanon and understand the tobacco market and identify the winners and losers from the Lebanese tobacco trade. METHODS We take a close look at the market for tobacco and related markets to identify the main stakeholders and estimate the direct costs and benefits of tobacco. We also estimate lower bounds for the costs of tobacco, in terms...