Behavioral Decision-Making: An Application to the Setting of Magazine Subscription Prices

Behavioral Biases Meet the Market: The Case of Magazine Subscription Prices

Using data from American magazines, we explore the relationship between newsstand and subscription prices and magazine characteristics. In particular, we distinguish between magazines that provide benefits in the future (investment magazines) versus those that are simply fun to read now (leisure magazines). A consumer with a present bias at the newsstand discounts the future payoff of the inves...

An AHP-Delphi Multi-Criteria Decision Making Model with Application to Environmental Decision-Making

Application of Fuzzy Decision-Making to Facility Layout Planning

This research proposes a vigorous methodology based on the fuzzy set theory to improve the facility layout process. Using natural language, the fuzzy set theory is an appropriate tool for controlling complex systems such as facility planning. The closeness rating between departments in a plant depends on qualitative and quantitative factors. Some of these factors may have a greater effect on th...

Decision making in forest management with consideration of stochastic prices

  The optimal harvesting policy is calculated as a function of the entering stock, the price state, the harvesting cost, and the rate of interest in the capital market. In order to determine the optimal harvest schedule, the growth function and stumpage price process are estimated for the Swedish mixed species forests. The stumpage price is assumed to follow a stochastic Markov process. A stoch...

Application of Fuzzy Decision-Making to Facility Layout Planning

This research proposes a vigorous methodology based on the fuzzy set theory to improve the facility layout process. Using natural language, the fuzzy set theory is an appropriate tool for controlling complex systems such as facility planning. The closeness rating between departments in a plant depends on qualitative and quantitative factors. Some of these factors may have a greater effect on th...