We examine the dynamic pricing decision of a …rm facing random demand while selling a …xed stock of two di¤erentiated products over an in…nite horizon. Prices in each period depend on the available stock of both products (varieties). In addition to the standard tradeo¤ between a higher revenue and the probability of selling the product, a higher price for one product also a¤ects the probability...

We study the development of a social norm of trust and reciprocity via the contagious strategy as de ned in Kandori (1992) among a group of strangers. The players anonymously and randomly meet each other and play a binary trust game in the in nite horizon. In order to provide the investors with proper incentives to follow the contagious strategy, the su cient condition requires that there exist...

We prove theorems pertaining to periodic arrays of spherical obstacles which show how the macroscopic limit of the mean free path depends on the scaling of the size of the obstacles. We treat separately the cases where the obstacles are totally and partially absorbing, and we also distinguish between two-dimensional arrays, where our results are optimal, and higher dimensional arrays where they...

Container terminals are essential intermodal interfaces in the global transportation network. Efficient container handling at terminals is important in reducing transportation costs and keeping shipping schedules. In this paper, we study the storage space allocation problem in the storage yards of terminals. This problem is related to all the resources in terminal operations, including quay cra...

In this paper, we consider a real-life supply chain optimization problem concerned with supplying a product from multiple warehouses to multiple geographically dispersed retailers. Each retailer faces a deterministic and period-dependent demand over some finite planning horizon. The demand of each retailer is satisfied by the supply from some predetermined warehouse through a fleet of vehicles ...

This paper looks at the effect of shareholder horizon on corporate behavior. In perfect capital markets, corporate behavior should be insensitive to shareholder horizon, but when investment opportunities are not well valued by the market, shareholder horizon matters. We first present a simple framework to show that shareholder horizon should be looked at in conjunction with stock misvaluation. ...

Managing component inventories eeectively in assembly systems with several products that share many common components can lead to improved customer service. We consider a two-level, nite-horizon assembly problem with multiple end-products that have random demands and share several common components. The objective is to minimize the total cost which comprises of holding excess components and pay...

Planning disassembly operations for a given demand in components is challenging practice because the quality of recovered very uncertain, and thus duration refurbishing unpredictable. In this paper, we address capacitated lot-sizing problems under uncertain durations. More precisely, consider two-level system with single type end-of-life product, dynamic demand, stochastic lead times all compon...

Road pricing is an effective method of demand management. Pricing on highway managed lanes is usually implemented as time-of-day or dynamic tolling in practice. Toll rates are usually updated according to latest traffic measurement and based on pre-defined rules. Researches on highway pricing can be generally categorized as analytical, reactive or optimization-based approaches. The limitations ...

Power distribution grids are commonly controlled through centralized approaches, such as the optimal power flow. However, current pervasive deployment of distributed renewable energy sources and increasing growth active players, providing ancillary services to grid, have made these frameworks no longer appropriate. In this context, we propose a novel noncooperative control mechanism for optimal...