There is a long tradition in economics about the question of whether intergenerational discounting is fair or not. Ramsey (1928) was the first economist that criticized the discounting and mentioned that the just rate of discounting is zero.  In this paper it was tried to calculate the just rate of discounting for Iran with respect to Islamic thoughts. According to Islam, intergenerational just...

This paper considers the multi-item dynamic lot size model where joint business volume discount is applied for all items purchased whenever the total dollar value of an order reaches a certain level. Multi-item discounts are prevalent in practical applications, yet the literature has only considered limited instances of single-item models. We establish the mathematical formulation and design an...

With the widespread use of manufacturing philosophies such as Just-In-Time (JIT), emphasis has shifted to the simultaneous consideration of cardinal and ordinal data in supplier selection process. Traditionally, many optimization models of supplier selection assume that the average prices of related expenditures are constant. This is far beyond the real situation. In fact, suppliers usually off...

Managing the purchasing task in the supply chain has been a challenge in the last decade for many corporations. The need to gain a global competitive edge on the supply side has increased substantially. Particularly for companies who spend a high percentage of their sales revenue on parts and material supplies, and whose material costs represent a larger portion of total costs, savings from sup...

T This paper analyzes different pricing strategies in a two-echelon supply chain including one supplier and two retailers. The supplier and the retailers face random yield and random demand, respectively. Moreover, coordination or non-coordination of retailers in receiving the discount is investigated. Game theory is used to model and analyze the problems. The supplier as a leader of Stackelbe...

Algebraic Reconstruction Technique (ART) is most accurate method for image reconstruction. In present paper the accuracy of ART is shown with parallel projections, in all only 16 projections with about 60 iterations are used to obtain reconstruction. Reference R. Gordon et al., “Three-Dimensional Reconstruction from Projections: A Review of Algorithms”, International Review of Cytology, Vol. 38...

In this entry we characterize pricing kernels or stochastic discount factors that are used to represent valuation operators in dynamic stochastic economies. A kernel is commonlyused mathematical term used to represent an operator. The term stochastic discount factor extends concepts from economics and finance to include adjustments for risk. As we will see, there is a tight connection between t...

This paper develops and studies a tough love model of intergenerational altruism. We model tough love by modifying the Barro-Becker standard altruism model in two ways. First, the child’s discount factor is endogenously determined, so that low consumption at young age leads to a higher discount factor later in her life. Second, the parent evaluates the child’s lifetime utility with a constant h...

In contrast to the existing literature on repeated games that assumes a Þxed discount factor, I study an environment in which it is more realistic to assume a ßuctuating discount factor. In a repeated oligopoly, as the interest rate changes, so too does the degree to which Þrms discount the future. I characterize the optimal tacit collusion equilibrium when the discount factor changes over time...