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...

OBJECTIVE To define TB control priorities using cost-effectiveness and burden of disease. METHODS An assumed cohort of 2,000 cases was set up based on age-specific incidence of 794 newly registered smear-positive cases in Beijing in 1994. Prognostic trees and model diagrams of infectivity with natural history and DOTS intervention were constructed based on the epidemiological parameters. RE...

This case explores the challenges of launching a new on-line business within an existing business, its unique IT needs, and how these needs change as the business matures. The case describes how Commonwealth Securities Limited (CommSec), a wholly owned subsidiary of the Commonwealth Bank of Australia (‘the Bank’), successfully established itself as the leading discount stockbroker in Australia....

We study the Markov perfect equilibria (MPEs) of an infinite horizon game in which pairs of players connected in a network are randomly matched to bargain. Players who reach agreement are removed from the network without replacement. We establish the existence of MPEs and show that MPE payoffs are not necessarily unique. A method for constructing pure strategy MPEs for high discount factors is ...

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...

With the rapid development of e-commerce in China, JD has encountered different rivals. How does use its differentiated competition strategy to reduce costs, increase revenue and profits? Based on research expansion previous literature, based database published by Internet March 2018, this paper gives strategic suggestions JD, hoping make it stand out among competitors. It is found that should ...

Necessary and sufficient conditions are derived under which the Tit-for-Tat strategy pair is a subgame perfect equilibrium in the standard discounted prisoner's dilemma. The sensitivity of the equilibrium to changes in the discount parameters is shown to be a common feature of all such nontrivial "reactive" equilibria. This appears to rule them out as reasonable solutions to the discounted pris...