This paper studies maximin paths in the context of a standard exhaustible resource model. Under the assumption that the resource is important in production, it establishes the efficiency and uniqueness of non-trivial maximin paths. It uses these results to study the nature of the maximin value and policy functions. The value function is shown to be differentiable with respect to the initial res...

The extensive adoption of uniform pricing for branded variants is a puzzling phenomenon considering that firms may improve profitability through price discrimination. In the paper, we incorporate consumers' concerns of price fairness into a model of price competition and show that uniform price for branded variants may emerge in equilibrium. Interestingly, we find that uniform pricing induced b...

Constant shadow prices indicate that gains in expected votes with respect to marginal shifts in transfers should be equal across jurisdictions. The ratio of the scalars (λ/μ) holds constant, while exhausting the budget, only if each party promises the same amount to any given jurisdiction (taj = tbj = Yj ∀ j). Voter consumption is thus identical under either party and implies tj = 0. By the tra...

We consider preventive transshipments between two stores in a decentralized system with two demand subperiods. Replenishment orders are made before the first subperiod, and the stores may make transshipments to one another between the subperiods. We prove that the transshipment decision has a dominant strategy, called a control-band conserving transfer policy, under which each store chooses a q...

This study investigates how headquarters’ involvement affects the efficiency of transfer price negotiations. Although prior research explores autonomous negotiations, evidence suggests that headquarters can become involved in these particularly after they fail. likely intention is to overcome inefficiencies arising from decentralized managers’ inability agree on a price, we suggest such reduce ...

The problem of designing the pellet characteristics for existing fixed-bed reactors has been studied. The reactor is assumed to be a unidimensional, plug-flow, heterogeneous type. Three particle shapes, two intraparticle mass transfer mechanisms, two kinds of film resistance to mass transfer and two poisoning patterns have been considered. An economic balance to both product market price and pe...

Since internal transfers of intermediate products between divisions of ®rms take place under a wide range of organizational factors and their arrangement, understanding transfer pricing involves a consideration of how these factors are arranged; that is, do they complement or ®t with each other or not. The current research experimentally investigates the impact of complementarity of sourcing (i...