How does a boundedly rational optimizing agent make decisions? Can such an agent learn to behave rationally? We address these questions in a standard regulator environment. Our behavioral primitive is anchored to the shadow price of the state vector. The regulator forecasts the value of an additional unit of the state tomorrow, and uses this forecast to choose her control. The value of the cont...

Article history: Received 14 September 2005 Received in revised form 10 December 2005 Accepted 19 December 2005 Available online 14 February 2006 There has been a growing concern about the interactions of endangered sea turtles with the pelagic longline fishery in Hawaii recently. Some tough measures including a swordfish harvest ban have been put into effect since 2000 to protect these turtles...

In this paper we develop an economic order quantity model to investigate the optimal replenishment policies for instantaneous deteriorating items under inflation and trade credit. Demand rate is a linear function of selling price and decreases negative exponentially with time over a finite planning horizon. Shortages are allowed and partially backlogged. Under these conditions, we model the ret...

U a consignment contract with revenue sharing, a supplier decides on the retail price and delivery quantity for his product, and retains ownership of the goods; for each item sold, the retailer deducts a percentage from the selling price and remits the balance to the supplier. In this paper we show that, under such a contract, both the overall channel performance and the performance of individu...

Shanghai, one of the most developed cities in China, is implementing a pilot regional carbon emission trading scheme. Estimating the marginal abatement costs of CO2 emissions for the industrial sectors covered in Shanghai's emission trading scheme provides the government and participating firms useful information for devising compliance policies. This paper employs multiple distance function ap...

in this research two models for pricing and inventory decisions of complementary products with and without deterioration assumption are developed. in both of them, we assumed that the demand function of each product is dependent on own price and the price of another one. the aim of this paper is to optimize the total profit of integrated system such that the optimal values for the price of each...