in this study, production, reproduction, management and economic parameters deduced from recordings of 5 flocks with 720 heads of native goats during an annual cycle of production in transhumance, village and farming systems were employed to determine the traits' economic values. the economic values of the traits were estimated, using maximizing profit, revenue per cost as well as minimizi...

This paper proposes an incentive mechanism for transmission expansion planning. The mechanism is a bilevel program. The upper level is a profit-maximizing transmission company (Transco) which expands its transmission system while endogenously predicts and influences the generation investment. The lower level is the optimal generation dispatch and investment. The Transco funds its transmission i...

We consider a supply chain in which a single supplier with fixed capacity sells to several independent retailers or manufacturers. The retailers have private information about their individual markets (e.g., mean market demand), which influences the size of their orders to the supplier. If the sum of all retailer orders exceeds the supplier’s capacity, the supplier uses a pre-declared rule, whi...

In this paper, we derive bounds for profit maximizing priorfree procurement auctions where a buyer wishes to procure multiple units of a homogeneous item from n sellers who are strategic about their per unit valuation. The buyer earns the profit by reselling these units in an external consumer market. The paper looks at three scenarios of increasing complexity. First, we look at unit capacity s...

We question the broad applicability of the assumption of profit maximization as the goal of the firm and investigate how variance in objective functions across different ownership structures affects competitive behavior. While prior work in agency theory has argued that firms may fail to engage in profit maximizing behaviors due to misalignment between the goals of owners and managers, we conte...

A major concern in the design of wholesale electricity markets is the potential for the exercise of market power by generating unit owners. To better understand the determinants of generating unit owner market power and how it is exercised, this paper derives a model of bidding behavior in a competitive electricity market which incorporates various sources of uncertainty and the impact of the e...

In this research note, we investigate segmentation opportunities for social planners such as government agencies, nonprofits, and public organizations. These opportunities arise when the potential products are vertically (quality) differentiated and the consumers are heterogeneous in their preferences toward quality. In these cases, whether to offer quality differentiated products and what qual...

the theory of efficient breach states that it is socially useful to breach a contract whenever the breach would leave no party worse off, while leaving at least one party better off. in other words, economic analyses of breach are mainly concerned with situations in which breach is pareto-superior, rather than just overall profit-maximizing. in contrast with moral theories that hold that breach...

Alternative policy options available to northern Benguela fisheries managers were explored using Ecopath with Ecosim. Scenarios were tested for optimizing the discounted profit from the fisheries in the ecosystem, maximizing the jobs that can be provided by the fisheries, maximizing a measure of ecosystem status, and analyzing tradeoffs between these management options. Additionally, two differ...