An inventory model for deteriorating items over a fuzzy random planning horizon incorporating inflation and time value of money is studied. It is assumed that planning horizon follows exponential distribution with imprecise parameter. The model is formulated using cost minimization principle. As the fuzzy cost cannot be minimized directly, the possibilistic mean value of the fuzzy cost is found...

For several decades, the Economic Order Quantity (EOQ) model and its variations have received much attention from researchers. Recently, there has been an investigation into an EOQ model incorporating a random product life cycle and the concept of time-value of money. This paper extends the previous research in several areas. First, we investigate the impact of in ̄ation on the choice of repleni...

The time - cost tradeoff problem is one of the most critical issues in the project scheduling field and so far, a lot of research has been done with a variety of quantitative and qualitative approaches on this subject. In this research, we intend to provide a two - objective mathematical model which balances crash and delay for activities. So that it provides the right tools for decision makers...

This paper examines the extent of redistribution that would occur under various annuity and bequest options as part of an individual accounts retirement program. I first estimate mortality differentials by gender, race, ethnicity and level of education using the National Longitudinal Mortality Study and document substantial differences. I then use these estimates to examine the “expected transf...

In this article, an integrated model is developed in which a manufacturer purchases raw materials from a supplier, and then produces finished products/goods, after that delivers them to a buyer. In the intended model production rate is assumed as a function of demand rate and customer demand rate is time dependent. To make the model more realistic the effect of inflation and time value of money...

This paper presents a flexibility analysis as a practical procedure to evaluate large-scale capital-intensive projects considering market uncertainty. It considers the combined effects of the time value of money, economies of scale, and learning, and demonstrates the additional benefits stemming from considerations of uncertainty and flexibility in the early stages of design and project evaluat...

Substantial work has applied stochastic techniques to network reliability models. These techniques can estimate risk, variance and uncertainty values. Unfortunately, these models do not address the issues of revenues, return on investment, or the time-value of money. To address these issues, we have developed an Economic Reliability Analysis [ERA] framework at the University of Virginia that fu...

The concept of customer lifetime value (CLV) is widely used by marketing practitioners and academics in making decisions about customer acquisition and retention spending. The traditional view of CLV, however, assumes that the firm has the unlimited capacity to serve all its acquired and retained customers. In this paper we consider a firm with limited capacity and determine the role that CLV p...

In valuing future cash °ows standard practice is to take the current cash °ow and then extrapolate at an expected growth rate, which can vary at di®erent points in time. This practice stems form the standard way of dealing with time value of money problems under certainty. However, with uncertain cash °ows this practice underestimates the expected cash °ows when the growth rates are serially co...