Wealth Maximization versus Profit Maximization-The more appropriate Goal

Profit Maximization versus Disadvantageous Inequality: The Impact of Self-Categorization

Choice behavior researchers (e.g., Bazerman, Loewenstein, & White, 1992) have found that individuals tend to choose a more lucrative but disadvantageously unequal payoff (e.g., self—$600/other—$800) over a less profitable but equal one (e.g., self—$500/ other—$500); greater profit trumps interpersonal social comparison concerns in the choice setting. We suggest, however, that self-categorizatio...

Customer Selection and Profit Maximization

Profit Maximization and Supermodular Technology

A dataset is a list of observed factor inputs and prices for a technology; profits and production levels are unobserved. We obtain necessary and sufficient conditions for a dataset to be consistent with profit maximization under a monotone and concave revenue based on the notion of cyclic monotonicity. Our result implies that monotonicity and concavity cannot be tested, and that one cannot deci...

Profit Maximization in Cloud Computing

Cloud computing is a novel paradigm for the provision of computing infrastructure, which aims to shift the location of the computing infrastructure to the network in order to reduce the costs of management and maintenance of hardware and software resources. To maximize the profit, a service provider should understand both service charges and business costs. Our pricing model takes such factors ...

Supply theory sans profit-maximization

We utilize the analytical construct of a stochastic supply function to provide an aggregate representation of a finite class of standard deterministic supply functions. We introduce a consistency postulate for a stochastic supply function that may be satisfied even if no underlying deterministic supply function is rationalizable in terms of profit maximization. Our consistency postulate is none...