Background:  The objective of the study was to appraise the total dollar value of human life losses (TDVHL) associated with COVID-19 in Canada. Methods: The net output approach (also known as human capital approach) was applied in the dollar valuation of the 6,062 human life losses associated with COVID-19 in Canada as of 23 May 2020. The economic model was rerun five times: (a) using the nati...

One of the most important activities in the management of input items of a company is focusing on the process of purchasing, supplier selection and allocating order to suppliers. Decisions about supplier selection due to simultaneously taking inconsistent and diverse issues into account in a wide range of strategic to operational factors, and from quantitative to qualitative criteria will be co...

This paper derives the properties of the discount rate that should be applied to a public-sector project when the affected population has heterogeneous degrees of impatience. We show that, for any distribution of discount rates, the social discount rate has the following properties: it decreases over time, it is lower than the average of the discount rates in the population and, it converges to...

Joint economic lot sizing (JELS) addresses integrated inventory models in a supply chain. Most of the studies in this field either do not consider the role of the transportation cost in their analysis or consider transportation cost as a fixed part of the ordering costs. In this article, a model is developed to analyze an incremental quantity discount in transportation cost. Appropriate equatio...

The objective of this paper is to adopt a general equilibrium model and determine the socially e¢ cient discount factor, risk free rate and discount rate when there are heterogeneous anticipations about the growth of the economy as well as heterogeneous time preference rates. Among others we tackle the following questions. Is the socially e¢ cient discount factor an arithmetic average of the in...

In general terms, decreasing impatience means decreasing discount rates. This property has been usually referred to as hyperbolic discounting, although there are other discount functions which also exhibit decreasing discount rates. This paper focuses on the measurement of the impatience associated with a discount function with the aim of establishing a methodology to compare this characteristi...