In this paper, a bi-objective multi-product single-vendor single-buyer supply chain problem is studied under green vendor-managed inventory (VMI) policy based on the economic production quantity (EPQ) model. To bring the model closer to real-world supply chain, four constraints of model including backordering cost, number of orders, production budget and warehouse space are considered stochasti...

The paper considers the problem of comparing income distributions for heterogeneous populations. The first contribution of this paper is a precise dominance criterion combined with a simple algorithm. This criterion is shown to be equivalent to unanimity among utilitarian social planners whose objectives are compatible with given intervals of equivalence scales. The second contribution of the p...

Utility elicitation is a critical function of any automated decision aid, allowing decisions to be tailored to the preferences of a specific user. However, the size and complexity of utility functions often precludes full elicitation, requiring that decisions be made without full utility information. Adopting the minimax regret criterion for decision making with incomplete utility information, ...

Utility elicitation is a critical function of any automated decision aid, allowing decisions to be tailored to the preferences of a specific user. However, the size and complexity of utility functions often precludes full elicitation, requiring that decisions be made without full utility information. Adopting the minimax regret criterion for decision making with incomplete utility information, ...

This paper is intended as a literature retrieval. In the first part we introduce Kelly criterion and show some of its basic properties. Then we define general HARA (Hyperbolic Absolute Risk Aversion) utility function and investment consumption problem. By stochastic optimal control we demonstrate solution to this problem for special class of HARA utility and show basic model with proportional t...

The aim of the present paper is to obtain Bayes estimators for the oospring mean of a simple branching process with a power series oospring probability distribution. We study the sensitivity behavior of the obtained estimators with respect to the choice of the loss function. We propose a minimax criterion using the Bayes risk for ranking the eeectiveness (in the sense of robustness) of the loss...

Specifying a prior distribution for the large number of parameters in the statistical model is a critical step in a Bayesian approach to the design and analysis of experiments. This article shows that the prior distribution can be induced from a functional prior on the underlying transfer function. The functional prior requires the specification of only a few hyper-parameters and therefore, can...

We provide foundations for robust normative evaluation of distributions of two attributes, one of which is cardinally measurable and transferable between individuals and the other is ordinal and non-transferable. The result that we establish takes the form of an analogue to the standard Hardy, Littlewood, and Pólya (1934) theorem for distributions of one cardinal attribute. More specifically, w...