One of the earliest results in flow shop scheduling theory is an algorithm given by Johnson’s [1] for scheduling jobs on two or three machines to minimize the total elapsed time whenever the processing times of jobs are random. The present paper is an attempt to develop a heuristic algorithm for two stages specially structured flow shop scheduling in which the processing times of the jobs a...

In this article we present a heuristic based on Lagrangean relaxation for scheduling rental vehicles. The scheduling problem can be formulated as a set of large assignment problems with linking constraints. We discuss the theory behind the heuristic, including the ability to obtain lower bounds. The heuristic is based on ideas first introduced by D. Wedelin. Empirical testing shows that our heu...

We define and solve a simple extension of the ski-rental problem [4]. In the classical version, the algorithm needs to decide when to switch from renting to buying. In our version, no pure buy option is available: even after switching to the buy option, the algorithm needs to pay some reduced rent. We present an online algorithm for this problem with a matching lower bound.

Empirical data and previous research have shown that capitalization rates vary across different MSA markets as well as between different product types. The cause of these variations is not fully understood however. Theory would suggest that the cause of variation should be income growth expectations, or risk variation. Surprisingly, ex-post data comparing income growth and cap rates shows almos...

Purpose The purpose of this paper is to exhibit the impacts of lease duration and lease break options on the optimal holding period for a real estate asset or portfolio. Methodology/approach We use a Monte Carlo simulation framework to simulate a real estate asset’s cash-flows in which lease structures (rent, indexation pattern, overall lease duration and break options) are explicitly taken int...

The authors' Level I trauma center has advocated the use of ski helmets for several years and in 1998, undertook a social-marketing campaign and a helmet loaner program to increase helmet use among skiers and snowboarders. The loaner program's effect on helmet acceptance was measured by comparing helmet acceptance in participating rental stores with acceptance in nonparticipating stores during ...

This paper proposes a generalized on-line risk-reward model, by introducing the notion of the probabilistic forecast. Using this model, we investigate the on-line rental problem. We design the risk rental algorithms under the basic probability forecast and the geometric distribution probability forecast, respectively. In contrast to the existing competitive analyses of the on-line rental proble...

VoD short for video-on-demand, is an electronic video-rental service over a computer network. VOD provides a service to users to browse and to watch any videos at any time. Using a VoD system, client will be able to request a video from anywhere and at any time. In response to a client's request, VoD systems will deliver high quality digitized video directly to client set-top boxes or workstati...

The Data Nerlove assembled a cross-section data set for 1955. The set contains 145 …rms in 44 states. The variables are: total costs, factor prices (the wage rate, the price of fuel, the rental rate of capital) and output. Rental rate of capital: Although …rms own capital (e.g. power plants), standard investment theory (Jorgenson 1963) tells us that (as long as there are no costs in changing th...