Production Payments

Optimal production lot with imperfect production process under permissible delay in payments and complete backlogging

The traditional economic production quantity (EPQ) model assumes that the production products are all perfect. It is not always true in the real production system, due to imperfect production process or other factors, imperfect quality items may be produced. Furthermore, it is well-known that the total production-inventory costs can be reduced by reworking the imperfect quality items produced w...

Micro-payments Based on Ikp Micro-payments Based on Ikp

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The Economics of Payments

Views stated in Policy Discussion Papers are those of the authors and not necessarily those of the Federal Reserve Bank of Cleveland or of the Board of Governors of the Federal Reserve System. Materials may be reprinted, provided that the source is credited. Please send copies of reprinted materials to the editor. In this paper we provide a survey of the payment literature in a unifi ed framewo...

State-level Direct Payments

Mix-Based Electronic Payments

We introduce a new payment architecture that limits the power of an attacker while providing the honest user with privacy. Our proposed method defends against all known attacks on the bank, implements revocable privacy, and results in an efficient scheme which is well-suited for smartcard-based payment schemes over the Internet.