Multi-item inventory model for deteriorating items with stock dependent demand under two-warehouse system is developed in fuzzy environment (purchase cost, investment amount and storehouse capacity are imprecise ) under inflation and time value of money. For display and storage, the retailers hire one warehouse of finite capacity at market place, treated as their own warehouse (OW), and another...

We propose an alternative algorithm for solving continuous review inventory model problems for deteriorating items over a finite horizon. Our interest focuses on the case of time–dependent demand and backlogging rates, limited or infinite warehouse capacity and taking into account the time value of money. The algorithm is based on Particle Swarm Optimization and it is capable of computing the n...

In this paper we utilize the main findings from the recent literature to set the economic foundation for the existence of money, its modern interpretation as “memory” (Chokerlakota 1998) and how the Blockchain technology has empowered crypto currencies to perform this role in the information age.  To locate the issue in a historical perspective and in line with this strand of thought, we consid...

The paper analyzes risk assessment for cash flows in continuous time using the notion of convex risk measures for processes. By combining a decomposition result for optional measures, and a dual representation of a convex risk measure for bounded càdlàg processes, we show that this framework provides a systematic approach to the both issues of model ambiguity, and uncertainty about the time val...

In this paper, an inventory model with ramp type demand rate with inflation and time value of money is developed. The deterioration rate follows three-parameter Weibull distribution with the concept of life time of an item. Shortages are also allowed and unsatisfied demand is partially backlogged. The model is fairly general in practice, as the demand of some items such as fashionable items inc...

This paper tests how important the time value of money (TVM) principle is in decision making real-life conditions, when different selection criteria can be considered. A three-stage survey was administered to students from a Romanian university economics. They were asked choose between two cars. These cars have equal total cash outflows but present values. The benefits using them not specified,...