A Note on EOQ Model under Cash Discount and Payment Delay
|
|
- Sheryl Bishop
- 6 years ago
- Views:
Transcription
1 Information Management Sciences Volume 16 Number 3 pp A Note on EOQ Model under Cash Discount Payment Delay Yung-Fu Huang Chaoyang University of Technology R.O.C. Abstract In this note we correct the models of Ouyang et al. (00 Chang (00 discussed with economic order quantity (EOQ under conditions of cash discount payment delay. Mathematical models have been modified for obtaining the optimal cycle time optimal payment policy for item under cash discount payment delay so that the annual total cost is minimized. Then we provide two theorems to efficiently determine the optimal cycle time optimal payment policy. Finally numerical examples are solved to illustrate the results given in the paper. Keywords: EOQ Payment Delay Cash Discount Trade Credit Inventory. 1. Introduction In practice the supplier frequently offers the retailer a fixed delay period that is the trade credit period in settling the accounts. Before the end of trade credit period the retailer can sell the goods accumulate revenue earn interest. A higher interest is charged if the payment is not settled by the end of trade credit period. In real world the supplier often makes use of this policy to promote his commodities. Goyal (1985 has discussed the well-known case of when the inventory system includes conditions of permissible delay in payments. Many articles related to the inventory policy under payment delay can be found in Aggarwal Jaggi (1995 Chang Dye (001 Chang et al. (001 Chen Chuang (1999 Chu et al. (1998 Chung (1998a 1998b 000 Chung et al. (001 Chung Huang (003 Goyal (1985 Huang (003 Jamal et al. ( Khouja Mehrez (1996 Liao et al. (000 Sarker et al. (000a 000b Teng (00 their references. Received September 003; Revised March 004; Accepted September 004. Supported by own.
2 98 Information Management Sciences Vol. 16 No. 3 September 005 Therefore it makes economic sense for the retailer to delay the settlement of the replenishment account up to the last moment of the permissible period allowed by the supplier. From the viewpoint of the supplier the supplier hopes that the payment is paid from retailer as soon as possible. It can avoid the possibility of resulting in bad debt. So in most business transactions the supplier will offer the credit terms mixing cash discount payment delay to the retailer. The retailer can obtain the cash discount when the payment is paid within cash discount period offered by the supplier. Otherwise the retailer will pay full payment within the trade credit period. In general the cash discount period is shorter than the trade credit period. Many articles related to the inventory policy under cash discount payment delay can be found in Chang (00 Ouyang et al. ( The objective of this note is to correct the models of Ouyang et al. (00 Chang (00 discussed with the EOQ under conditions of cash discount payment delay. Mathematical models have been modified for obtaining the optimal cycle time optimal payment policy for item under cash discount payment delay so that the annual total cost is minimized. Then we provide two theorems to efficiently determine the optimal cycle time optimal payment policy. Finally numerical examples are solved to illustrate the results given in the paper.. Ouyang et al. s Model.1. Model formulation To shorten the note we adopt the same notation assumptions as in Ouyang et al. (00. However we want to correct the item IP in T C 1 (T in Ouyang et al. (00. Since the supplier offers cash discount if payment is paid within t 1. Therefore in this case the retailer will pay the annual purchasing cost p(1 rd to the supplier. Then the annual cost of interest charges for the items kept in stock is based on the annual purchasing cost p(1 rd. So we correct the annual IP in T C 1 (T in Ouyang et al. (00 picd(t t 1. We use the following items to formulate the T to p(1 ricd(t t 1 T annual total cost functions. Annual total cost ordering cost + stock-holding cost + purchasing cost + interest payable interest earned. For convience we define T V C 1 (T the annual total cost when payment is paid at time t 1 T > 0
3 A Note on EOQ Model under Cash Discount Payment Delay 99 T V C 11 (T if T t 1 T V C 1 (T if T t 1 T V C (T the annual total cost when payment is paid at time t T > 0 T V C 1 (T if T t T V C (T if T t T V C(T the annual total cost when T > 0 T V C 1 (T if the payment is paid at time t 1 T V C (T if the payment is paid at time t T the optimal cycle time of T V C(T. Therefore we can obtain following four annual total cost functions. T V C 11 (T S T V C 1 (T S T V C 1 (T S T V C (T S So S T V C 1 (T S T V C (T S S + p(1 rd + p(1 ri cd(t t 1 ( T + p(1 rd + pdi d t 1 T + pd + pi cd(t t T pi ddt T pi ddt 1 T (1 ( ( + pd pdi d t T. (4 + p(1 rd + p(1 ricd(t t 1 + p(1 rd + pdi d (t 1 T + pd + picd(t t T pi ddt + pd + pdi d (t T T pi ddt 1 (3 T if t 1 T (5a if 0 < T t 1 (5b T if t T (6a if 0 < T t. (6b At T t 1 we find T V C 11 (t 1 T V C 1 (t 1. Hence T V C 1 (T is continuous welldefined. All T V C 11 (T T V C 1 (T T V C 1 (T are defined on T > 0. And at T t we find T V C 1 (t T V C (t. Hence T V C (T is continuous well-defined. All T V C 1 (T T V C (T T V C (T are defined on T > 0... Determination of the optimal cycle time T optimal payment policy From equations (1 ( (3 (4 yield T V C 11(T {S + Dpt 1 [(1 ri c I d ]} T + D[h + p(1 ri c] (7
4 100 Information Management Sciences Vol. 16 No. 3 September 005 T V C 11(T S + Dpt 1 [(1 ri c I d ] T 3 (8 T V C 1(T S T + D(h + pi d (9 T V C 1 S (T > 0 T 3 (10 T V C 1(T [S + Dpt (I c I d ] T + D(h + pi c (11 T V C 1(T S + Dpt (I c I d T 3 > 0 (1 T V C S (T T + D(h + pi d (13 T V C (T S > 0. (14 T 3 Equations (10 (1 (14 imply that all T V C 1 (T T V C 1 (T T V C (T are convex on T > 0. However equation (8 implies that T V C 11 (T is convex on T > 0 if S + Dpt 1 [(1 ri c I d ] > 0. Let T V C 11 (T 11 T V C 1 (T 1 T V C 1 (T 1 T V C (T 0 we can obtain T11 S + Dpt 1 [(1 ri c I d ] if S + Dpt 1 D[h + p(1 ri c ] [(1 ri c I d ] > 0 (15 T1 S D(h + pi d (16 T1 S + Dpt (I c I d (17 D(h + pi c T S D(h + pi d. (18 Then we find T 1 T. Equation (15 implies that the optimal for the case of T t 1 that is T 11 t 1. We substitute equation (15 into T 11 t 1 then we can obtain the optimal if only if S + Dt 1 (h + pi d 0. Similarly equation (16 implies that the optimal for the case of T t 1 that is T 1 t 1. We substitute equation (16 into T 1 t 1 then we can obtain the optimal if only if S + Dt 1 (h + pi d 0.
5 A Note on EOQ Model under Cash Discount Payment Delay 101 Likewise equation (17 implies that the optimal for the case of T t that is T1 t. We substitute equation (17 into T1 t then we can obtain the optimal if only if S + Dt (h + pi d 0. Finally equation (18 implies that the optimal for the case of T t that is T t. We substitute equation (18 into T t then we can obtain the optimal if only if S + Dt (h + pi d 0. Furthermore we let And 1 S + Dt 1(h + pi d (19 S + Dt (h + pi d. (0 Since t 1 < t equations (19 (0 we can get 1 <. From above arguments the optimal cycle time T optimal payment policy (t 1 or t can be obtained as follows. Theorem 1. (A If 1 > 0 then T V C(T min{t V C 1 (T 1 T V C (T }. Hence T T 1 T optimal payment time is t 1 or t associated with the least cost. (B If < 0 then T V C(T min{t V C 1 (T 11 T V C (T 1 }. Hence T is T 11 or T 1 optimal payment time is t 1 or t associated with the least cost. (C If 1 < 0 > 0 then T V C(T min{t V C 1 (T11 T V C (T }. Hence T is T11 or T optimal payment time is t 1 or t associated with the least cost. (D If 1 0 > 0 then T V C(T min{t V C 1 (t 1 T V C (T }. Hence T is t 1 or T optimal payment time is t 1 or t associated with the least cost. (E If 1 < 0 0 then T V C(T min{t V C 1 (T 11 T V C (t }. Hence T is T 11 or t optimal payment time is t 1 or t associated with the least cost. Theorem 1 immediately determines the optimal cycle time T optimal payment policy (t 1 or t after computing the numbers 1. simple. Theorem 1 is really very
6 10 Information Management Sciences Vol. 16 No. 3 September Chang s Model 3.1 Model formulation In this section we want to correct Chang s model (00. In Chang s model (00 she extended Ouyang et al. s model (00 by considering the selling price per item higher than the purchasing cost per item. So we must define the extra notation as follow. Extra notation: s unit selling price per item s > p. Then we correct the interest payable per unit time in Case 1 in Chang (00 For convience we define pdi c (T t 1 T to p(1 rdi c(t t 1. T T RC 1 (T the annual total cost when payment is paid at time t 1 T > 0 T RC 11 (T if T t 1 T RC 1 (T if T t 1 T RC (T the annual total cost when payment is paid at time t T > 0 T RC 1 (T if T t T RC (T if T t T RC(T the annual total cost when T > 0 T RC 1 (T if the payment is paid at time t 1 T RC (T if the payment is paid at time t T the optimal cycle time of T RC(T. Therefore we can obtain following four annual total cost functions. T RC 11 (T S T RC 1 (T S T RC 1 (T S T RC (T S So + p(1 rd + p(1 ri cd(t t 1 ( T + p(1 rd sdi d t 1 T + pd + pi cd(t t T si ddt T si ddt 1 T (1 ( (3 ( + pd sdi d t T. (4
7 A Note on EOQ Model under Cash Discount Payment Delay 103 S T T RC 1 (T + hdt + p(1 rd + p(1 ricd(t t 1 T si ddt 1 T if t 1 T (5a S + p(1 rd sdi d (t 1 T if 0 < T t 1 (5b S T T RC (T + hdt + pd + picd(t t T si ddt T if t T (6a S + pd sdi d (t T if 0 < T t. (6b At T t 1 we find T RC 11 (t 1 T RC 1 (t 1. Hence T RC 1 (T is continuous welldefined. All T RC 11 (T T RC 1 (T T RC 1 (T are defined on T > 0. And at T t we find T RC 1 (t T RC (t. Hence T RC (T is continuous well-defined. All T RC 1 (T T RC (T T RC (T are defined on T > Determination of the optimal cycle time T optimal payment policy From equations (1 ( (3 (4 yield T RC 11(T {S + Dt 1 [p(1 ri c si d ]} T + D[h + p(1 ri c] (7 T RC 11(T S + Dt 1 [p(1 ri c si d ] T 3 (8 T RC 1 S (T T + D(h + si d (9 T RC 1 S (T > 0 T 3 (30 T RC 1 (T [S + Dt (pi c si d ] T + D(h + pi c (31 T RC 1(T S + Dt (pi c si d T 3 (3 T RC S (T T + D(h + si d (33 T RC (T S > 0. (34 T 3 Equations (30 (34 imply that all T RC 1 (T T RC (T are convex on T > 0. However equation (8 implies that T RC 11 (T is convex on T > 0 if S+Dt 1 [p(1 ri c si d ] > 0. Equation (3 implies that T RC 1 (T is convex on T > 0 if S+Dt (pi c si d > 0. Let T RC 11 (T 11 T RC 1 (T 1 T RC 1 (T 1 T RC (T 0 we can obtain T S + Dt 1 11 [p(1 ri c si d ] if S + Dt D[h + p(1 ri c ] 1[p(1 ri c si d ] > 0 (35 T 1 S D(h + si d (36
8 104 Information Management Sciences Vol. 16 No. 3 September 005 T 1 S + Dt (pi c si d D(h + pi c if S + Dt (pi c si d > 0 (37 T S D(h + si d. (38 Then we find T 1 T. Equation (35 implies that the optimal for the case of T t 1 that is T 11 t 1. We substitute equation (35 into T 11 t 1 then we can obtain the optimal if only if S + Dt 1 (h + si d 0. Similarly equation (36 implies that the optimal for the case of T t 1 that is T 1 t 1. We substitute equation (36 into T 1 t 1 then we can obtain the optimal if only if S + Dt 1 (h + si d 0. Likewise equation (37 implies that the optimal for the case of T t that is T 1 t. We substitute equation (37 into T 1 t then we can obtain the optimal if only if S + Dt (h + si d 0. Finally equation (38 implies that the optimal for the case of T t that is T t. We substitute equation (38 into T t then we can obtain the optimal if only if S + Dt (h + si d 0. Furthermore we let 3 S + Dt 1(h + si d (39 4 S + Dt (h + si d. (40 Since t 1 < t equations (39 (40 we can get 3 < 4. From above arguments the optimal cycle time T optimal payment policy (t 1 or t can be obtained as follows. Theorem. (A If 3 > 0 then T RC(T min{t RC 1 (T 1 T RC (T }. Hence T T 1 T optimal payment time is t 1 or t associated with the least cost.
9 A Note on EOQ Model under Cash Discount Payment Delay 105 (B If 4 < 0 then T RC(T min{t RC 1 (T 11 T RC (T 1}. Hence T is T 11 or T 1 optimal payment time is t 1 or t associated with the least cost. (C If 3 < 0 4 > 0 then T RC(T min{t RC 1 (T 11 T RC (T }. Hence T is T 11 or T optimal payment time is t 1 or t associated with the least cost. (D If > 0 then T RC(T min{t RC 1 (t 1 T RC (T }. Hence T is t 1 or T optimal payment time is t 1 or t associated with the least cost. (E If 3 < then T RC(T min{t RC 1 (T 11 T RC (t }. Hence T is T 11 or t optimal payment time is t 1 or t associated with the least cost. Theorem immediately determines the optimal cycle time T optimal payment policy (t 1 or t after computing the numbers 3 4. simple. Theorem is really very 4. Numerical Examples To illustrate the results let us apply the proposed method to solve the following numerical examples. For convenience the numbers of the parameters are selected romly. Example 1. Let S $00/order D units/year p $100/unit r 0.01 h $5/unit/year I c $0.15/$/year I d $0.1/$/year t year t 0.1 year then < 0 50 > 0 T V C 1 (T 11 $ < T V C (T $ Using Theorem 1-(C we get T T year the optimal order quantity will be DT units. The optimal payment time is t year. T V C(T T V C 1 (T11 $ Example. Let S $00/order D 000 units/year p $50/unit s $100/unit r 0.05 h $5/unit/year I c $0.15/$/year I d $0.05/$/year t year t 0. year then < > 0 T RC 1 (T 11 $ < T RC (T $ Using Theorem -(C we get T T year the optimal order quantity will be DT 11 payment time is t year. T RC(T T RC 1 (T 11 $ units. The optimal
10 106 Information Management Sciences Vol. 16 No. 3 September Summary The supplier offers the trade credit to stimulate the dem of the retailer. However the supplier can also use the cash discount policy to attract retailer to pay the full payment of the amount of purchasing cost to shorten the collection period. The credit term that contains cash discount is very realistic in real-life business situations. This note corrects Ouyang et al. (00 Chang (00 provides two theorems to efficiently determine the optimal cycle time optimal payment policy. Theorem 1 provides the determination of T optimal payment policy depends on the numbers of 1. Theorem provides the determination of T optimal payment policy depends on the numbers of 3 4. Finally numerical examples are solved to illustrate the results given in this paper. Acknowledgements The author would like to thank anonymous referees for their valuable constructive comments suggestions that have led to a significant improvement on an earlier version of this paper. References [1] Aggarwal S. P. Jaggi C. K. Ordering policies of deteriorating items under permissible delay in payments Journal of the Operational Research Society Vol.46 pp [] Chang C. T. Extended economic order quantity model under cash discount payment delay International Journal of Information Management Sciences Vol.13 No.3 pp [3] Chang H. J. Dye C. Y. An inventory model for deteriorating items with partial backlogging permissible delay in payments International Journal of Systems Science Vol.3 pp [4] Chang H. J. Hung C. H. Dye C. Y. An inventory model for deteriorating items with linear trend dem under the condition of permissible delay in payments Production Planning Control Vol.1 pp [5] Chen M. S. Chuang C. C. An analysis of light buyer s economic order model under trade credit Asia-Pacific Journal of Operational Research Vol.16 pp [6] Chu P. Chung K. J. Lan S. P. Economic order quantity of deteriorating items under permissible delay in payments Computers Operations Research Vol.5 pp [7] Chung K. J. A theorem on the determination of economic order quantity under conditions of permissible delay in payments Computers Operations Research Vol.5 pp a. [8] Chung K. J. Economic order quantity model when delay in payments is permissible Journal of Information & Optimization Sciences Vol.19 pp b. [9] Chung K. J. The inventory replenishment policy for deteriorating items under permissible delay in payments Opsearch Vol.37 pp [10] Chung K. J. Chang S. L. Yang W. D. The optimal cycle time for exponentially deteriorating products under trade credit financing The Engineering Economist Vol
11 A Note on EOQ Model under Cash Discount Payment Delay 107 [11] Chung K. J. Huang Y. F. The optimal cycle time for EPQ inventory model under permissible delay in payments International Journal of Production Economics Vol.84 pp [1] Goyal S. K. Economic order quantity under conditions of permissible delay in payments Journal of the Operational Research Society Vol.36 pp [13] Huang Y. F. Optimal retailer s ordering policies in the EOQ model under trade credit financing Journal of the Operational Research Society Vol.54 pp [14] Jamal A. M. M. Sarker B. R. Wang S. An ordering policy for deteriorating items with allowable shortages permissible delay in payment Journal of the Operational Research Society Vol.48 pp [15] Jamal A. M. M. Sarker B. R. Wang S. Optimal payment time for a retailer under permitted delay of payment by the wholesaler International Journal of Production Economics Vol.66 pp [16] Khouja M. Mehrez A. Optimal inventory policy under different supplier credit policies Journal of Manufacturing Systems Vol.15 pp [17] Liao H. C. Tsai C. H. Su C. T. An inventory model with deteriorating items under inflation when a delay in payment is permissible International Journal of Production Economics Vol.63 pp [18] Ouyang L. Y. Chen M. S. Chuang K. W. Economic order quantity model under cash discount payment delay International Journal of Information Management Sciences Vol.13 No.1 pp [19] Ouyang L. Y. Wu C. C. Chuang K. W. Economic order quantity with partial backorders under supplier credit Journal of Information & Optimization Sciences Vol.4 pp [0] Sarker B. R. Jamal A. M. M. Wang S. Supply chain model for perishable products under inflation permissible delay in payment Computers Operations Research Vol.7 pp a. [1] Sarker B. R. Jamal A. M. M. Wang S. Optimal payment time under permissible delay in payment for products with deterioration Production Planning Control Vol.11 pp b. [] Teng J. T. On the economic order quantity under conditions of permissible delay in payments Journal of the Operational Research Society Vol.53 pp Author s Information Yung-Fu Huang is an associate professor of the Department of Business Administration at Chaoyang University of Technology Taiwan. He was awarded a Ph.D. in Industrial Management from National Taiwan University of Science Technology Taiwan. His research areas include inventory management engineering economics operations research service quality management. He has published/accepted in journals such as Applied Mathematical Modelling Asia-Pacific Journal of Operational Research International Journal of Production Economics International Journal of Systems Science Journal of Applied Sciences Journal of Information & Optimization Sciences Journal of the Operational Research Society Journal of the Operations Research Society of Japan Journal of Statistics & Management Systems omega Opsearch Production Planning Control Quality & Quantity Taiwan Academy of Management Journal. Department of Business Administration Chaoyang University of Technology Wufong Taichung Taiwan 413 R.O.C. huf@mail.cyut.edu.tw Tel: ext. 4377
An Inventory Model for Deteriorating Items under Conditionally Permissible Delay in Payments Depending on the Order Quantity
Applied Mathematics, 04, 5, 675-695 Published Online October 04 in SciRes. http://www.scirp.org/journal/am http://dx.doi.org/0.436/am.04.5756 An Inventory Model for Deteriorating Items under Conditionally
More informationEOQ Model for Weibull Deteriorating Items with Imperfect Quality, Shortages and Time Varying Holding Cost Under Permissable Delay in Payments
International Journal of Computational Science and Mathematics. ISSN 0974-389 Volume 5, Number (03), pp. -3 International Research Publication House http://www.irphouse.com EOQ Model for Weibull Deteriorating
More informationOptimal Ordering Policies in the EOQ (Economic Order Quantity) Model with Time-Dependent Demand Rate under Permissible Delay in Payments
Article International Journal of Modern Engineering Sciences, 015, 4(1):1-13 International Journal of Modern Engineering Sciences Journal homepage: wwwmodernscientificpresscom/journals/ijmesaspx ISSN:
More informationAN EOQ MODEL FOR DETERIORATING ITEMS UNDER SUPPLIER CREDITS WHEN DEMAND IS STOCK DEPENDENT
Yugoslav Journal of Operations Research Volume 0 (010), Number 1, 145-156 10.98/YJOR1001145S AN EOQ MODEL FOR DEERIORAING IEMS UNDER SUPPLIER CREDIS WHEN DEMAND IS SOCK DEPENDEN Nita H. SHAH, Poonam MISHRA
More informationEconomic Order Quantity Model with Two Levels of Delayed Payment and Bad Debt
Research Journal of Applied Sciences, Engineering and echnology 4(16): 831-838, 01 ISSN: 040-7467 Maxwell Scientific Organization, 01 Submitted: March 30, 01 Accepted: March 3, 01 Published: August 15,
More informationCorrespondence should be addressed to Chih-Te Yang, Received 27 December 2008; Revised 22 June 2009; Accepted 19 August 2009
Hindawi Publishing Corporation Mathematical Problems in Engineering Volume 2009, Article ID 198305, 18 pages doi:10.1155/2009/198305 Research Article Retailer s Optimal Pricing and Ordering Policies for
More informationAn EOQ model with time dependent deterioration under discounted cash flow approach when supplier credits are linked to order quantity
Control and Cybernetics vol. 36 (007) No. An EOQ model with time dependent deterioration under discounted cash flow approach when supplier credits are linked to order quantity by Bhavin J. Shah 1, Nita
More informationA CASH FLOW EOQ INVENTORY MODEL FOR NON- DETERIORATING ITEMS WITH CONSTANT DEMAND
Science World Journal Vol 1 (No 3) 15 A CASH FOW EOQ INVENTORY MODE FOR NON- DETERIORATING ITEMS WITH CONSTANT DEMAND Dari S. and Ambrose D.C. Full ength Research Article Department of Mathematical Sciences,Kaduna
More informationInventory Model with Different Deterioration Rates with Shortages, Time and Price Dependent Demand under Inflation and Permissible Delay in Payments
Global Journal of Pure and Applied athematics. ISSN 0973-768 Volume 3, Number 6 (07), pp. 499-54 Research India Publications http://www.ripublication.com Inventory odel with Different Deterioration Rates
More informationSTUDIES ON INVENTORY MODEL FOR DETERIORATING ITEMS WITH WEIBULL REPLENISHMENT AND GENERALIZED PARETO DECAY HAVING SELLING PRICE DEPENDENT DEMAND
International Journal of Education & Applied Sciences Research (IJEASR) ISSN: 2349 2899 (Online) ISSN: 2349 4808 (Print) Available online at: http://www.arseam.com Instructions for authors and subscription
More informationRetailer s optimal order and credit policies when a supplier offers either a cash discount or a delay payment linked to order quantity
370 European J. Industrial Engineering, Vol. 7, No. 3, 013 Retailer s optimal order and credit policies when a supplier offers either a cash discount or a delay payment linked to order quantity Chih-e
More informationDETERIORATING INVENTORY MODEL WITH LINEAR DEMAND AND VARIABLE DETERIORATION TAKING INTO ACCOUNT THE TIME-VALUE OF MONEY
International Journal of Mathematics and Computer Applications Research (IJMCAR) ISSN 49-6955 Vol., Issue Mar -5 JPRC Pvt. Ltd., DEERIORAING INVENORY MODEL WIH LINEAR DEMAND AND VARIABLE DEERIORAION AKING
More informationChapter 5. Inventory models with ramp-type demand for deteriorating items partial backlogging and timevarying
Chapter 5 Inventory models with ramp-type demand for deteriorating items partial backlogging and timevarying holding cost 5.1 Introduction Inventory is an important part of our manufacturing, distribution
More informationP. Manju Priya 1, M.Phil Scholar. G. Michael Rosario 2, Associate Professor , Tamil Nadu, INDIA)
International Journal of Computational an Applie Mathematics. ISSN 89-4966 Volume, Number (07 Research Inia Publications http://www.ripublication.com AN ORDERING POLICY UNDER WO-LEVEL RADE CREDI POLICY
More informationOptimal credit period and lot size for deteriorating items with expiration dates under two-level trade credit financing and backorder
Journal of Industrial and Systems Engineering Vol., No. 4, pp. -8 Autumn (November) 08 Optimal credit period and lot size for deteriorating items with expiration dates under two-level trade credit financing
More informationMinimizing the Discounted Average Cost Under Continuous Compounding in the EOQ Models with a Regular Product and a Perishable Product
American Journal of Operations Management and Information Systems 2018; 3(2): 52-60 http://www.sciencepublishinggroup.com/j/ajomis doi: 10.11648/j.ajomis.20180302.13 ISSN: 2578-8302 (Print); ISSN: 2578-8310
More informationROLE OF INFLATION AND TRADE CREDIT IN STOCHASTIC INVENTORY MODEL
Global and Stochastic Analysis Vol. 4 No. 1, January (2017), 127-138 ROLE OF INFLATION AND TRADE CREDIT IN STOCHASTIC INVENTORY MODEL KHIMYA S TINANI AND DEEPA KANDPAL Abstract. At present, it is impossible
More informationU.P.B. Sci. Bull., Series D, Vol. 77, Iss. 2, 2015 ISSN
U.P.B. Sci. Bull., Series D, Vol. 77, Iss. 2, 2015 ISSN 1454-2358 A DETERMINISTIC INVENTORY MODEL WITH WEIBULL DETERIORATION RATE UNDER TRADE CREDIT PERIOD IN DEMAND DECLINING MARKET AND ALLOWABLE SHORTAGE
More informationInternational Journal of Supply and Operations Management
International Journal of Supply and Operations Management IJSOM May 014, Volume 1, Issue 1, pp. 0-37 ISSN-Print: 383-1359 ISSN-Online: 383-55 www.ijsom.com EOQ Model for Deteriorating Items with exponential
More informationINVENTORY MODELS WITH RAMP-TYPE DEMAND FOR DETERIORATING ITEMS WITH PARTIAL BACKLOGGING AND TIME-VARING HOLDING COST
Yugoslav Journal of Operations Research 24 (2014) Number 2, 249-266 DOI: 10.2298/YJOR130204033K INVENTORY MODELS WITH RAMP-TYPE DEMAND FOR DETERIORATING ITEMS WITH PARTIAL BACKLOGGING AND TIME-VARING HOLDING
More informationCity, University of London Institutional Repository
City Research Online City, University of London Institutional Repository Citation: Ries, J.M., Glock, C.H. & Schwindl, K. (2016). Economic ordering and payment policies under progressive payment schemes
More informationOptimal Payment Policy with Preservation. under Trade Credit. 1. Introduction. Abstract. S. R. Singh 1 and Himanshu Rathore 2
Indian Journal of Science and echnology, Vol 8(S7, 0, April 05 ISSN (Print : 0974-6846 ISSN (Online : 0974-5645 DOI: 0.7485/ijst/05/v8iS7/64489 Optimal Payment Policy with Preservation echnology Investment
More informationChapter 5 Inventory model with stock-dependent demand rate variable ordering cost and variable holding cost
Chapter 5 Inventory model with stock-dependent demand rate variable ordering cost and variable holding cost 61 5.1 Abstract Inventory models in which the demand rate depends on the inventory level are
More informationAn Economic Production Lot Size Model with. Price Discounting for Non-Instantaneous. Deteriorating Items with Ramp-Type Production.
Int. J. Contemp. Math. Sciences, Vol. 7, 0, no., 53-554 An Economic Production Lot Size Model with Price Discounting for Non-Instantaneous Deteriorating Items with Ramp-Type Production and Demand Rates
More informationDeteriorating Items Inventory Model with Different Deterioration Rates and Shortages
Volume IV, Issue IX, September 5 IJLEMAS ISSN 78-5 Deteriorating Items Inventory Model with Different Deterioration Rates and Shortages Raman Patel, S.R. Sheikh Department of Statistics, Veer Narmad South
More informationAn EOQ model with non-linear holding cost and partial backlogging under price and time dependent demand
An EOQ model with non-linear holding cost and partial backlogging under price and time dependent demand Luis A. San-José IMUVA, Department of Applied Mathematics University of Valladolid, Valladolid, Spain
More informationInventory Modeling for Deteriorating Imperfect Quality Items with Selling Price Dependent Demand and Shortage Backordering under Credit Financing
Inventory Modeling for Deteriorating Imperfect uality Items with Selling Price Dependent Demand and Shortage Backordering under Credit Financing Aditi Khanna 1, Prerna Gautam 2, Chandra K. Jaggi 3* Department
More informationResearch Article EOQ Model for Deteriorating Items with Stock-Level-Dependent Demand Rate and Order-Quantity-Dependent Trade Credit
Mathematical Problems in Engineering, Article I 962128, 14 pages http://dx.doi.org/10.1155/2014/962128 Research Article EOQ Model for eteriorating Items with Stock-Level-ependent emand Rate and Order-Quantity-ependent
More informationExtend (r, Q) Inventory Model Under Lead Time and Ordering Cost Reductions When the Receiving Quantity is Different from the Ordered Quantity
Quality & Quantity 38: 771 786, 2004. 2004 Kluwer Academic Publishers. Printed in the Netherlands. 771 Extend (r, Q) Inventory Model Under Lead Time and Ordering Cost Reductions When the Receiving Quantity
More informationA Markov decision model for optimising economic production lot size under stochastic demand
Volume 26 (1) pp. 45 52 http://www.orssa.org.za ORiON IN 0529-191-X c 2010 A Markov decision model for optimising economic production lot size under stochastic demand Paul Kizito Mubiru Received: 2 October
More informationResearch Article An Inventory Model for Perishable Products with Stock-Dependent Demand and Trade Credit under Inflation
Mathematical Problems in Engineering Volume 213, Article ID 72939, 8 pages http://dx.doi.org/1.1155/213/72939 Research Article An Inventory Model for Perishle Products with Stock-Dependent Demand and rade
More informationCity, University of London Institutional Repository
City Research Online City, University of London Institutional Repository Citation: Glock, C.H., Ries, J.. & Schwindl, K. (25). Ordering policy for stockdependent demand rate under progressive payment scheme:
More information1 The EOQ and Extensions
IEOR4000: Production Management Lecture 2 Professor Guillermo Gallego September 16, 2003 Lecture Plan 1. The EOQ and Extensions 2. Multi-Item EOQ Model 1 The EOQ and Extensions We have explored some of
More informationA Dynamic Lot Size Model for Seasonal Products with Shipment Scheduling
The 7th International Symposium on Operations Research and Its Applications (ISORA 08) Lijiang, China, October 31 Novemver 3, 2008 Copyright 2008 ORSC & APORC, pp. 303 310 A Dynamic Lot Size Model for
More informationEOQ models for perishable items under stock dependent selling rate
Theory and Methodology EOQ models for perishable items under stock dependent selling rate G. Padmanabhan a, Prem Vrat b,, a Department of Mechanical Engineering, S.V.U. College of Engineering, Tirupati
More informationPricing Policy with Time and Price Dependent Demand for Deteriorating Items
EUROPEAN JOURNAL OF MATHEMATICAL SCIENCES Vol., No. 3, 013, 341-351 ISSN 147-551 www.ejmathsci.com Pricing Policy with Time and Price Dependent Demand for Deteriorating Items Uttam Kumar Khedlekar, Diwakar
More informationA PRODUCTION MODEL FOR A FLEXIBLE PRODUCTION SYSTEM AND PRODUCTS WITH SHORT SELLING SEASON
A PRODUCTION MODEL FOR A FLEXIBLE PRODUCTION SYSTEM AND PRODUCTS WITH SHORT SELLING SEASON MOUTAZ KHOUJA AND ABRAHAM MEHREZ Received 12 June 2004 We address a practical problem faced by many firms. The
More informationOptimal Policies of Newsvendor Model Under Inventory-Dependent Demand Ting GAO * and Tao-feng YE
207 2 nd International Conference on Education, Management and Systems Engineering (EMSE 207 ISBN: 978--60595-466-0 Optimal Policies of Newsvendor Model Under Inventory-Dependent Demand Ting GO * and Tao-feng
More informationAnalysis of a Quantity-Flexibility Supply Contract with Postponement Strategy
Analysis of a Quantity-Flexibility Supply Contract with Postponement Strategy Zhen Li 1 Zhaotong Lian 1 Wenhui Zhou 2 1. Faculty of Business Administration, University of Macau, Macau SAR, China 2. School
More informationEOQ models for deteriorating items with two levels of market
Ryerson University Digital Commons @ Ryerson Theses and dissertations 1-1-211 EOQ models for deteriorating items with two levels of market Suborna Paul Ryerson University Follow this and additional works
More informationPRODUCTION-INVENTORY SYSTEM WITH FINITE PRODUCTION RATE, STOCK-DEPENDENT DEMAND, AND VARIABLE HOLDING COST. Hesham K. Alfares 1
RAIRO-Oper. Res. 48 (2014) 135 150 DOI: 10.1051/ro/2013058 RAIRO Operations Research www.rairo-ro.org PRODUCTION-INVENTORY SYSTEM WITH FINITE PRODUCTION RATE, STOCK-DEPENDENT DEMAND, AND VARIABLE HOLDING
More informationDISRUPTION MANAGEMENT FOR SUPPLY CHAIN COORDINATION WITH EXPONENTIAL DEMAND FUNCTION
Acta Mathematica Scientia 2006,26B(4):655 669 www.wipm.ac.cn/publish/ ISRUPTION MANAGEMENT FOR SUPPLY CHAIN COORINATION WITH EXPONENTIAL EMAN FUNCTION Huang Chongchao ( ) School of Mathematics and Statistics,
More informationThe Optimal Price and Period Control of Complete Pre-Ordered Merchandise Supply
International Journal of Operations Research International Journal of Operations Research Vol. 5, No. 4, 5 3 (008) he Optimal Price and Period Control of Complete Pre-Ordered Merchandise Supply Miao-Sheng
More informationApplication of the Collateralized Debt Obligation (CDO) Approach for Managing Inventory Risk in the Classical Newsboy Problem
Isogai, Ohashi, and Sumita 35 Application of the Collateralized Debt Obligation (CDO) Approach for Managing Inventory Risk in the Classical Newsboy Problem Rina Isogai Satoshi Ohashi Ushio Sumita Graduate
More informationChing Chung Lin ( 林靖中 )
Ching Chung Lin ( 林靖中 ) Department of International Business Southern Taiwan University of Science and Technology No. 1, Nan-Tai Street, Yongkang Dist., Tainan 71005, Taiwan Office: S505/S508 8 TEL: 886-6-2533131
More informationTWO-STAGE NEWSBOY MODEL WITH BACKORDERS AND INITIAL INVENTORY
TWO-STAGE NEWSBOY MODEL WITH BACKORDERS AND INITIAL INVENTORY Ali Cheaitou, Christian van Delft, Yves Dallery and Zied Jemai Laboratoire Génie Industriel, Ecole Centrale Paris, Grande Voie des Vignes,
More informationA Newsvendor Model with Initial Inventory and Two Salvage Opportunities
A Newsvendor Model with Initial Inventory and Two Salvage Opportunities Ali CHEAITOU Euromed Management Marseille, 13288, France Christian VAN DELFT HEC School of Management, Paris (GREGHEC) Jouys-en-Josas,
More informationARTICLE IN PRESS. Int. J. Production Economics
Int. J. Production Economics 118 (29) 253 259 Contents lists available at ScienceDirect Int. J. Production Economics journal homepage: www.elsevier.com/locate/ijpe A periodic review replenishment model
More informationDepartment of Social Systems and Management. Discussion Paper Series
Department of Social Systems and Management Discussion Paper Series No.1252 Application of Collateralized Debt Obligation Approach for Managing Inventory Risk in Classical Newsboy Problem by Rina Isogai,
More informationAN INVENTORY REPLENISHMENT POLICY FOR DETERIORATING ITEMS UNDER INFLATION IN A STOCK DEPENDENT CONSUMPTION MARKET WITH SHORTAGE
AN INVENTORY REPLENISHMENT POLICY FOR DETERIORATING ITEMS UNDER INFLATION IN A STOCK DEPENDENT CONSUMPTION MARKET WITH SHORTAGE Soumendra Kumar Patra Assistant Professor Regional College of Management
More informationA Newsvendor Model with Initial Inventory and Two Salvage Opportunities
A Newsvendor Model with Initial Inventory and Two Salvage Opportunities Ali Cheaitou Euromed Management Domaine de Luminy BP 921, 13288 Marseille Cedex 9, France Fax +33() 491 827 983 E-mail: ali.cheaitou@euromed-management.com
More informationAn EPQ model for a deteriorating item with inflation reduced selling price and demand with immediate part payment
Hacettepe Journal of Mathematics and Statistics Volume 43 (4) (2014), 641 659 An EPQ model for a deteriorating item with inflation reduced selling price and demand with immediate part payment Pinki Majumder,
More information3 Department of Mathematics, Imo State University, P. M. B 2000, Owerri, Nigeria.
General Letters in Mathematic, Vol. 2, No. 3, June 2017, pp. 138-149 e-issn 2519-9277, p-issn 2519-9269 Available online at http:\\ www.refaad.com On the Effect of Stochastic Extra Contribution on Optimal
More informationOptimal inventory model with single item under various demand conditions
Optimal inventory model wit single item under various demand conditions S. Barik, S.K. Paikray, S. Misra 3, Boina nil Kumar 4,. K. Misra 5 Researc Scolar, Department of Matematics, DRIEMS, angi, Cuttack,
More informationA Risk-Sensitive Inventory model with Random Demand and Capacity
STOCHASTIC MODELS OF MANUFACTURING AND SERVICE OPERATIONS SMMSO 2013 A Risk-Sensitive Inventory model with Random Demand and Capacity Filiz Sayin, Fikri Karaesmen, Süleyman Özekici Dept. of Industrial
More informationTHis paper presents a model for determining optimal allunit
A Wholesaler s Optimal Ordering and Quantity Discount Policies for Deteriorating Items Hidefumi Kawakatsu Astract This study analyses the seller s wholesaler s decision to offer quantity discounts to the
More informationOptimization of Fuzzy Production and Financial Investment Planning Problems
Journal of Uncertain Systems Vol.8, No.2, pp.101-108, 2014 Online at: www.jus.org.uk Optimization of Fuzzy Production and Financial Investment Planning Problems Man Xu College of Mathematics & Computer
More informationA lower bound on seller revenue in single buyer monopoly auctions
A lower bound on seller revenue in single buyer monopoly auctions Omer Tamuz October 7, 213 Abstract We consider a monopoly seller who optimally auctions a single object to a single potential buyer, with
More informationDecision Models for a Two-stage Supply Chain Planning under Uncertainty with Time-Sensitive Shortages and Real Option Approach.
Decision Models for a Two-stage Supply Chain Planning under Uncertainty with Time-Sensitive Shortages and Real Option Approach by Hwansik Lee A dissertation submitted to the Graduate Faculty of Auburn
More informationISyE 6201: Manufacturing Systems Instructor: Spyros Reveliotis Spring 2007 Solutions to Homework 1
ISyE 601: Manufacturing Systems Instructor: Spyros Reveliotis Spring 007 Solutions to Homework 1 A. Chapter, Problem 4. (a) D = 60 units/wk 5 wk/yr = 310 units/yr h = ic = 0.5/yr $0.0 = $0.005/ yr A =
More informationFuzzy EOQ Model for Time-Deteriorating Items Using Penalty Cost
merican Journal of Operational Research 6 6(: -8 OI:.59/j.ajor.66. Fuzzy EOQ Moel for ime-eteriorating Items Using Penalty ost Nalini Prava Behera Praip Kumar ripathy epartment of Statistics Utkal University
More informationResearch Article Two-Level Credit Financing for Noninstantaneous Deterioration Items in a Supply Chain with Downstream Credit-Linked Demand
Discrete Dynamics in Nature and Society Volume 13, Article ID 917958, pages http://dx.doi.org/1.1155/13/917958 Research Article wo-level Credit Financing for Noninstantaneous Deterioration Items in a Supply
More informationProbability and Stochastics for finance-ii Prof. Joydeep Dutta Department of Humanities and Social Sciences Indian Institute of Technology, Kanpur
Probability and Stochastics for finance-ii Prof. Joydeep Dutta Department of Humanities and Social Sciences Indian Institute of Technology, Kanpur Lecture - 07 Mean-Variance Portfolio Optimization (Part-II)
More informationRevenue Management Under the Markov Chain Choice Model
Revenue Management Under the Markov Chain Choice Model Jacob B. Feldman School of Operations Research and Information Engineering, Cornell University, Ithaca, New York 14853, USA jbf232@cornell.edu Huseyin
More informationAmerican Option Pricing Formula for Uncertain Financial Market
American Option Pricing Formula for Uncertain Financial Market Xiaowei Chen Uncertainty Theory Laboratory, Department of Mathematical Sciences Tsinghua University, Beijing 184, China chenxw7@mailstsinghuaeducn
More informationA Note on Mean-variance Analysis of the Newsvendor Model with Stockout Cost
This is the Pre-Published Version. A Note on Mean-variance Analysis of the Newsvendor Model with Stockout Cost Jun Wu 1, Jian Li 2,4, Shouyang Wang 2 and T.C.E Cheng 3 1 School of Economics and Management
More informationAn Analytical Inventory Model for Exponentially Decaying Items under the Sales Promotional Scheme
ISSN 4-696 (Paper) ISSN 5-58 (online) Vol.5, No., 5 An Analytical Inventory Model for Exponentially Decaying Items under the Sales Promotional Scheme Dr. Chirag Jitendrabhai Trivedi Head & Asso. Prof.
More informationNo-arbitrage theorem for multi-factor uncertain stock model with floating interest rate
Fuzzy Optim Decis Making 217 16:221 234 DOI 117/s17-16-9246-8 No-arbitrage theorem for multi-factor uncertain stock model with floating interest rate Xiaoyu Ji 1 Hua Ke 2 Published online: 17 May 216 Springer
More informationTHE OPTIMAL ASSET ALLOCATION PROBLEMFOR AN INVESTOR THROUGH UTILITY MAXIMIZATION
THE OPTIMAL ASSET ALLOCATION PROBLEMFOR AN INVESTOR THROUGH UTILITY MAXIMIZATION SILAS A. IHEDIOHA 1, BRIGHT O. OSU 2 1 Department of Mathematics, Plateau State University, Bokkos, P. M. B. 2012, Jos,
More informationPeer to Peer Lending Supervision Analysis base on Evolutionary Game Theory
IJISET - International Journal of Innovative Science, Engineering & Technology, Vol. 3 Issue, January 26. Peer to Peer Lending Supervision Analysis base on Evolutionary Game Theory Lei Liu Department of
More informationComparative Study between Linear and Graphical Methods in Solving Optimization Problems
Comparative Study between Linear and Graphical Methods in Solving Optimization Problems Mona M Abd El-Kareem Abstract The main target of this paper is to establish a comparative study between the performance
More informationUniversity of Toronto Department of Economics ECO 204 Summer 2013 Ajaz Hussain TEST 1 SOLUTIONS GOOD LUCK!
University of Toronto Department of Economics ECO 204 Summer 2013 Ajaz Hussain TEST 1 SOLUTIONS TIME: 1 HOUR AND 50 MINUTES DO NOT HAVE A CELL PHONE ON YOUR DESK OR ON YOUR PERSON. ONLY AID ALLOWED: A
More information~ / ( ) ( ) Corporate Finance 2. Investment
03-8633148 E-mailpsweng@gms.ndhu.edu.tw / (2005-2011) / ()2013.02 1. Corporate Finance 2. Investment 3. Market Microstructure 4.Behavioral Finance Pei-Shih (Pace) Weng 2011.12~2016.12 * SCIEISSCI A&HCI
More information1. (18 pts) D = 5000/yr, C = 600/unit, 1 year = 300 days, i = 0.06, A = 300 Current ordering amount Q = 200
HW 1 Solution 1. (18 pts) D = 5000/yr, C = 600/unit, 1 year = 300 days, i = 0.06, A = 300 Current ordering amount Q = 200 (a) T * = (b) Total(Holding + Setup) cost would be (c) The optimum cost would be
More informationPricing in a two-echelon supply chain with different market powers: game theory approaches
J Ind Eng Int (2016) 12:119 135 DOI 10.1007/s40092-015-0135-5 ORIGINAL RESEARCH Pricing in a two-echelon supply chain with different market powers: game theory approaches Afshin Esmaeilzadeh 1 Ata Allah
More informationRisk Sensitive Inventory Management with Financial Hedging 1
Risk Sensitive Inventory Management with Financial Hedging 1 Süleyman Özekici Koç University Department of Industrial Engineering Sar yer, Istanbul Games and Decisions in Reliability and Risk Workshop
More informationUp-front payment under RD rule
Rev. Econ. Design 9, 1 10 (2004) DOI: 10.1007/s10058-004-0116-4 c Springer-Verlag 2004 Up-front payment under RD rule Ho-Chyuan Chen Department of Financial Operations, National Kaohsiung First University
More informationConsumption and Saving
Chapter 4 Consumption and Saving 4.1 Introduction Thus far, we have focussed primarily on what one might term intratemporal decisions and how such decisions determine the level of GDP and employment at
More information2.1 Model Development: Economic Order Quantity (EOQ) Model
_ EOQ Model The first model we will present is called the economic order quantity (EOQ) model. This model is studied first owing to its simplicity. Simplicity and restrictive modeling assumptions usually
More informationAn Asset Allocation Puzzle: Comment
An Asset Allocation Puzzle: Comment By HAIM SHALIT AND SHLOMO YITZHAKI* The purpose of this note is to look at the rationale behind popular advice on portfolio allocation among cash, bonds, and stocks.
More informationInstantaneous rate of change (IRC) at the point x Slope of tangent
CHAPTER 2: Differentiation Do not study Sections 2.1 to 2.3. 2.4 Rates of change Rate of change (RC) = Two types Average rate of change (ARC) over the interval [, ] Slope of the line segment Instantaneous
More informationBlack-Scholes Option Pricing
Black-Scholes Option Pricing The pricing kernel furnishes an alternate derivation of the Black-Scholes formula for the price of a call option. Arbitrage is again the foundation for the theory. 1 Risk-Free
More informationGame Theory Analysis on Accounts Receivable Financing of Supply Chain Financing System
07 3rd International Conference on Management Science and Innovative Education (MSIE 07) ISBN: 978--60595-488- Game Theory Analysis on Accounts Receivable Financing of Supply Chain Financing System FANG
More informationMYOPIC INVENTORY POLICIES USING INDIVIDUAL CUSTOMER ARRIVAL INFORMATION
Working Paper WP no 719 November, 2007 MYOPIC INVENTORY POLICIES USING INDIVIDUAL CUSTOMER ARRIVAL INFORMATION Víctor Martínez de Albéniz 1 Alejandro Lago 1 1 Professor, Operations Management and Technology,
More information1 The Exchange Economy...
ON THE ROLE OF A MONEY COMMODITY IN A TRADING PROCESS L. Peter Jennergren Abstract An exchange economy is considered, where commodities are exchanged in subsets of traders. No trader gets worse off during
More informationDoes Encourage Inward FDI Always Be a Dominant Strategy for Domestic Government? A Theoretical Analysis of Vertically Differentiated Industry
Lin, Journal of International and Global Economic Studies, 7(2), December 2014, 17-31 17 Does Encourage Inward FDI Always Be a Dominant Strategy for Domestic Government? A Theoretical Analysis of Vertically
More informationROBUST OPTIMIZATION OF MULTI-PERIOD PRODUCTION PLANNING UNDER DEMAND UNCERTAINTY. A. Ben-Tal, B. Golany and M. Rozenblit
ROBUST OPTIMIZATION OF MULTI-PERIOD PRODUCTION PLANNING UNDER DEMAND UNCERTAINTY A. Ben-Tal, B. Golany and M. Rozenblit Faculty of Industrial Engineering and Management, Technion, Haifa 32000, Israel ABSTRACT
More informationJournal of Computational and Applied Mathematics. The mean-absolute deviation portfolio selection problem with interval-valued returns
Journal of Computational and Applied Mathematics 235 (2011) 4149 4157 Contents lists available at ScienceDirect Journal of Computational and Applied Mathematics journal homepage: www.elsevier.com/locate/cam
More informationA Two-Dimensional Dual Presentation of Bond Market: A Geometric Analysis
JOURNAL OF ECONOMICS AND FINANCE EDUCATION Volume 1 Number 2 Winter 2002 A Two-Dimensional Dual Presentation of Bond Market: A Geometric Analysis Bill Z. Yang * Abstract This paper is developed for pedagogical
More informationAnalysis of PPP Project Risk
Abstract Analysis of PPP Project Risk Jing Zhang 1, a, Jiefang Tian 1, b 1 School of North China University of Science and Technology, Tangshan 063210, China. a HappydeZhangJing@163.com, b 550341056@qq.com
More informationThe Effects of Specific Commodity Taxes on Output and Location of Free Entry Oligopoly
San Jose State University SJSU ScholarWorks Faculty Publications Economics 1-1-009 The Effects of Specific Commodity Taxes on Output and Location of Free Entry Oligopoly Yeung-Nan Shieh San Jose State
More informationOption Pricing under Delay Geometric Brownian Motion with Regime Switching
Science Journal of Applied Mathematics and Statistics 2016; 4(6): 263-268 http://www.sciencepublishinggroup.com/j/sjams doi: 10.11648/j.sjams.20160406.13 ISSN: 2376-9491 (Print); ISSN: 2376-9513 (Online)
More informationThe Yield Envelope: Price Ranges for Fixed Income Products
The Yield Envelope: Price Ranges for Fixed Income Products by David Epstein (LINK:www.maths.ox.ac.uk/users/epstein) Mathematical Institute (LINK:www.maths.ox.ac.uk) Oxford Paul Wilmott (LINK:www.oxfordfinancial.co.uk/pw)
More informationInflation in Brusov Filatova Orekhova Theory and in its Perpetuity Limit Modigliani Miller Theory
Journal of Reviews on Global Economics, 2014, 3, 175-185 175 Inflation in Brusov Filatova Orekhova Theory and in its Perpetuity Limit Modigliani Miller Theory Peter N. Brusov 1,, Tatiana Filatova 2 and
More informationw w w. I C A o r g
w w w. I C A 2 0 1 4. o r g On improving pension product design Agnieszka K. Konicz a and John M. Mulvey b a Technical University of Denmark DTU Management Engineering Management Science agko@dtu.dk b
More informationDEVELOPMENT AND IMPLEMENTATION OF A NETWORK-LEVEL PAVEMENT OPTIMIZATION MODEL FOR OHIO DEPARTMENT OF TRANSPORTATION
DEVELOPMENT AND IMPLEMENTATION OF A NETWOR-LEVEL PAVEMENT OPTIMIZATION MODEL FOR OHIO DEPARTMENT OF TRANSPORTATION Shuo Wang, Eddie. Chou, Andrew Williams () Department of Civil Engineering, University
More informationModified ratio estimators of population mean using linear combination of co-efficient of skewness and quartile deviation
CSIRO PUBLISHING The South Pacific Journal of Natural and Applied Sciences, 31, 39-44, 2013 www.publish.csiro.au/journals/spjnas 10.1071/SP13003 Modified ratio estimators of population mean using linear
More informationE-companion to Coordinating Inventory Control and Pricing Strategies for Perishable Products
E-companion to Coordinating Inventory Control and Pricing Strategies for Perishable Products Xin Chen International Center of Management Science and Engineering Nanjing University, Nanjing 210093, China,
More informationDUOPOLY MODELS. Dr. Sumon Bhaumik (http://www.sumonbhaumik.net) December 29, 2008
DUOPOLY MODELS Dr. Sumon Bhaumik (http://www.sumonbhaumik.net) December 29, 2008 Contents 1. Collusion in Duopoly 2. Cournot Competition 3. Cournot Competition when One Firm is Subsidized 4. Stackelberg
More informationMean-Variance Analysis
Mean-Variance Analysis Mean-variance analysis 1/ 51 Introduction How does one optimally choose among multiple risky assets? Due to diversi cation, which depends on assets return covariances, the attractiveness
More information