This paper tries to trace our research history briefly from Barlow and Proschan to attain general replacement models. We begin with a random age replacement policy that is planned at a random time Y and call it as random replacement. When the distribution of Y becomes a degenerate distribution placing unit mass at T, age replacement is formulated. We obtain the general formulas for optimum repl...

This paper extends the standard New Keynesian model by incorporating labor adjustment costs and overtime work. I show that labor frictions help reconcile the frequent price changes found in the microdata with the degree of sluggishness in inflation adjustment to output changes at the macro level. The introduction of labor frictions affects the dynamic behavior of economic variables (particularl...

It was concluded that there was sufficient evidence about a possible link between long working hours particularly exceeding 50 a week and the risk of significant health outcomes, including cardiovascular disease from literature review by Spurgeon et al.. This study was conducted to find out the single effect of regular overtime work on the cardiovascular functions through objective biological i...

In an National Football League overtime, a coin is tossed to determine which team will receive the kick off. In the sudden death format starting on offense has a significantly higher chance of winning. This makes coin tossing one of the most climatic moments and immediately confers an advantage to one team. Proposals to improve the ex post fairness by guaranteeing each team one possession reduc...

This paper examines the incentive effects of different payoff structures in the National Hockey League. A rule change prior to the 1999-2000 season, which changed the way that teams were awarded points in overtime games, provides a natural experiment to test the reaction of teams to a change in the payoff structure. The rule change had the desired effect of increasing excitement during overtime...

AIMS To examine the association between overtime work and incident coronary heart disease (CHD) among middle-aged employees. METHODS AND RESULTS Six thousand and fourteen British civil servants (4262 men and 1752 women), aged 39-61 years who were free from CHD and worked full time at baseline (1991-1994), were followed until 2002-2004, an average of 11 years. The outcome measure was incident ...

BACKGROUND In Australia a persistent and sizable gender wage gap exists. In recent years this gap has been steadily widening. The negative impact of gender wage differentials is the disincentive to work more hours. This implies a substantial cost on the Australian health sector. This study aimed to identify the magnitude of gender wage differentials within the health sector. The investigation a...

We consider a manufacturer that must fill stochastic demand. When shortages occur, the manufacturer may choose to meet the unmet demand with overtime production and/or by premium freight shipments. We derive optimal production policies for regular and overtime production and discuss the tradeoffs involved.