We consider a segment of a supply chain comprising an inventory system and a transportation system that cooperate in the fulfillment of stochastic customer orders. The inventory system is operated under a discrete time (s, q) policy with backorders. In a system of this kind accumulated backorders introduce lumpiness of transportation demand into the system. We study the connection between the s...

Cassava is regarded as the nutritional base of populations in developing countries, and flour, product made of cassava, is the most consumed in the world. The cassava leaves are very rich in vegetable proteins, but a big amount is lost in processing the crop. The objective of this study was to do a sensory evaluation of cassava flour to which a protein concentrate obtained from cassava leaves (...

Abstract Standard (S, s) models of lumpy investment allow us to match many aspects the micro data, but it is well known that implied interest rate sensitivity unrealistically large. In fact, micro-level lumpiness in puts empirical discipline on modeling decisions, and this makes hard explain monetary policy transmission mechanism.

This paper evaluates the opportunity and efficiency to introduce a two-part tariff to coordinate the location of power plants with lumpy transmission investments. Nodal pricing sends the short run component of such a two-part tariff and we study the case where the average participation tariff sends the long run one. We argue that this solution is helpful because the average participation tariff...

Standard Data Envelopment Analysis (DEA) is characterized by uniform proportional input reduction or output augmentation in calculating improvement projections. This paper develops a new Euclidean Distance Minimization model in the context of DEA in order to derive a more appropriate efficiency-improving projection model by means of a weighted projection function. The model is extended to the s...

Wepresent an analytically tractable dynamic stochastic general equilibrium model that incorporates micro-level fixed and convex adjustment costs. We provide an explicit characterization of equilibrium dynamics by a system of nonlinear stochastic difference equations. We provide general conditions under which our model features investment lumpiness at the microeconomic level, but aggregate dynam...

Abstract Tillage is an important element of crop cultivation technology in the Krasnoyarsk Territory. The main processing solves such technological problems as deepening arable layer due to underlying layers or horizons, crumbling and loosening soil, which ensures a change relative position soil units with increase number pores, mixing leveling soil. Particular attention during should be paid q...

A theory of continuous trading with a very general commodity space is developed encompassing all the existing models as special cases. Agents are allowed to consume at lumps if they choose to. The martingale characterization of an equilibrium price system originated by Harrison and Kreps [8] is extended to our economy. The relationship between the sample paths properties of a price system and t...