The classical risk-neutral newsvendor problem is to decide the order quantity to maximize the one period expected pro.t under a given demand distribution. In this paper we consider a risk-averse newsvendor with a stochastic price-dependent demand. We use the Conditional Value-at-Risk (CVaR), a risk measure commonly used in finance, as the decision criterion. The aim of our study is to investiga...

This article focuses on governance of the pharmaceutical sector in Israel. It traces the relationships between the state, industry, and sick funds from before the establishment of National Health Insurance (NHI) in 1995 to the beginning of this decade, in particular as they have grappled with the challenge of making national formulary decisions in a rational manner. Subsequent to the introducti...

aggregation operators (aos) have been studied by many schol- ars. as many aos are proposed, there is still lacking approach to classify the categories of ao, and to select the appropriate ao within the ao candidates. in this research, each ao can be regarded as a cognitive style or individual dierence. a cognitive style and aggregation operator (csao) model is pro- posed to analyze the mapping ...

introduction: to run a hospital effectively, managers need to have proper decision-making strategies. the managers' decision-making strategies and the staff's job satisfaction are two major factors that allow the manager to achieve the planned objectives. therefore, in this paper, these two factors were studied. methods and materials: it was a descriptive study in which the population of the st...

This paper is concerned with using stochastic approximation and optimization methods for stock liquidation decision making and option pricing. For stock liquidation problem, we present a class of stochastic recursive algorithms, and make comparisons of performances using stochastic approximation methods and that of certain commonly used heuristic methods, such as moving averaging method and mov...

various traditional and industrial coke making techniques were discussed based on their limitations and production capacities, and the criteria such as the quality and size of coke production, amount of coke crumb, amount of investment, amount of operational costs, labor force and mechanization. in this work, the rankings of various traditional and industrial coke making techniques were carried...

Bucket pricing entails a prepaid price and a maximum consumption limit, which requires consumers to make advance purchase decisions before their consumption needs are fully revealed. We propose a dynamic model that involves how consumers form expectations of future consumption needs, learn to reduce uncertainty through experience, and make optimal advance purchase decisions. Applying the model ...

governance in health is cited as one of the key factors in balancing the concerns of the government and public sector with the interests of civil society/private players, but often remains poorly described and operationalized. richard saltman and antonio duran look at two aspects in the search for new provider models in a context of health markets signalling liberalisation: (i) the role of the ...