Data envelopment analysis (DEA) models can calculate the Malmquist Productivity Index (MPI). Classic Malmquist Productivity Index shows regress and progress of a DMU in different periods with efficiency and technology variations without considering the present value of money. This issue is of major importance since while a currency of in previous year is not equal to that of now this would yiel...

Water scarcity is one of the main concerns of several countries around the world. In this context, several approaches have been proposed for resource conservation and available water augmentation through specific actions such as process intensification and the use, reclamation, reuse, and recycle of alternative water sources. Nonetheless, there are no reported methodologies optimizing the multi...

In a recent article published in European Journal of Operational Research, 162 (2005) 773–785, Moon et al. [1] develop economic order quantity models (A, A1, and B) for deteriorating/ameliorating items which have time-varying demand pattern over a finite planning horizon, taking account of inflation and time value of money. Although the formulation of the total cost function in all the models i...

This paper deals with the economic evaluation of industrial projects. Some traditional techniques, which have been used by practicing managers or advocated by academics, become questionable in the face of modern developments in finance theory. The objective of this paper is to examine how these modern developments in finance theory are applied to project evaluation. The paper is divided into tw...

In this paper, a realistic replenishment model with multiple warehouses (one is primary warehouse (PW) from where the items are sold and others are secondary warehouses (SWs) where the items are stored) is developed with fuzzy lead-time under the assumption that the capacities of the warehouses are finite. Inflation and time value of money are taken into account. The items of secondary warehous...

This study considers deteriorating items having linear demand pattern, although this demand pattern is not new and lot of work has been done on this demand pattern. But this study is unique in itself, as in this study constant part of linear demand changes with each cycle, thus it gives better picture of demand then earlier models. The earlier models used to consider the constant factor of line...

Friedman’s contribution to the consumption literature goes well beyond the seminal permanentincome hypothesis. He conjectured that the marginal propensity to consume out of financial wealth shall be larger than out of ‘‘human wealth’’, the present discounted value of future labor income. I present an explicitly solved model to deliver this widely noted consumption property by specifying that th...