In this paper, we concentrate on developing a bi-fuzzy multi objective transportation problem (MOSTP) according to bi-fuzzy expected value method (EVM). In a transportation model, the available discount is normally offered on items/criteria, etc., in the form all unit discount (AUD) or incremental quantity discount (IQD) or combination of these two. Here transportation model is considered with ...

We consider a discounted utility model that has two components. (1) The instantaneous utility is of the prospect theory form, thus, allowing for reference dependent outcomes. (2) The discount function embodies a ‘reference time’to which all future outcomes are discounted back to, hence, the name, reference time theory. We allow the discount function to exhibit declining impatience, as in hyperb...

This paper studies the robust optimization for the single allocation p-hub median problem under discount factor uncertainty. We develop the discount factor as a novel uncertain parameter, which represents different connection modes between hubs. The discount factor can be described by a random variable with discrete distribution in nominal case. We apply a robust optimization approach to deal w...

This study argues that strong evidence contradicting the traditional assumption of time-consistent preferences is not available. The study builds and analyzes the implications of a deterministic general equilibrium model and compares them to data from the U.S. asset market. The model implies that (1) because of dynamic arbitrage, the prices of retradable assets cannot reveal whether preferences...

Drug, Improvement and Modernization Act of 2003, authorizes the implementation of the Medicare-Approved Drug Discount Card Program. This program is designed to help people in Medicare with the cost of prescription drugs. In the past several years as prescription drugs have increased, a number of Medicare beneficiaries have begun to use drug discount cards for outof-pocket expenditures. In the l...

This working note provides a basic overview of discounting in the context of climate change policy. After defining the social discount factor and social discount rate in terms of shadow prices (section 2), and noting the limitations of cost-benefit analysis for climate change (section 3), the determination of efficient social discount rates is discussed given: the impact of uncertainty about fu...

We analyze a revenue management problem in which a seller endowed with an initial inventory operates a selling with binding reservations scheme. Upon arrival, each consumer, trying to maximize his own utility, must decide either to buy at the full price and get the item immediately, or to place a non-withdrawable reservation at a discount price and wait until the end of the sales season where t...

This paper considers a supply chain that includes one supplier and retailer, in which the retailer has more accurate demand forecast. The blockchain technology can verify authenticity of information, then choose to truly share information with by adopting such costly technology. We discuss three scenarios based on signaling game: bears all cost (no subsidy), part providing direct subsidy or who...

OBJECTIVES In the standard economic model of evaluation, constant discount rates devalue the long term health benefits of prevention strongly. This study shows that it is unlikely that this reflects societal preference. DESIGN A thought experiment in a cause elimination life table calculates savings of eliminating cardiovascular disease from the Dutch population. A cost effectiveness analysis...

BACKGROUND Increasing tobacco taxes to increase price is a proven tobacco control measure. This article investigates how smokers respond to tax and price increases in their choice of discount brand cigarettes versus premium brands. OBJECTIVE To estimate how increase in the tax rate can affect smokers' choice of discount brands versus premium brands. METHODS Using data from International Tob...