Given an M=G=1 queue controlled by an exhaustive policy P, we consider a (P+ )-policy consisting of turning the server on at a random time later than P. The objective is to obtain necessary and su cient conditions such that the (P+ )-policy are better than the P-policy. Under the in nite-horizon average-cost criterion, policies are compared when the costs assumed are linear. When the holding co...

Wedevelop computational bounds onperformance for causal state feedback stochastic controlwith linear dynamics, arbitrary noise distribution, and arbitrary input constraint set. This can be very useful as a comparison with the performance of suboptimal control policies, which we can evaluate using Monte Carlo simulation. Our method involves solving a semidefinite program (a linear optimization p...

Motivated by emerging applications in workforce management, we consider a class of revenue management problems in systems with reusable resources. The corresponding applications are modeled using the well-known loss network systems (sometime also called the stochastic knapsack model). We use an extremely simple linear program (LP) that provides an upper bound on the best achievable expected lon...

Motivated by emerging applications in workforce management, we consider a class of revenue management problems in systems with reusable resources. The corresponding applications are modeled using the well-known loss network systems. We use an extremely simple linear program (LP) that provides an upper bound on the best achievable expected long-run revenue rate. The optimal solution of the LP is...

Citation: Lembo G, Bellido JM, Bitetto I, Facchini MT, García-Jiménez T, Stithou M, Vassilopoulou VC and Spedicato MT (2017) Preference Modeling to Support Stakeholder Outreach toward the Common Fishery Policy Objectives in the North Mediterranean Sea. Front. Mar. Sci. 4:328. doi: 10.3389/fmars.2017.00328 Preference Modeling to Support Stakeholder Outreach toward the Common Fishery Policy Objec...

In the aftermath of the nancial crisis, the role of monetary policy and macro-prudential regulation in promoting nancial stability is under discussion. The old debate concerning whether monetary policy should respond to credit and asset price bubbles was revived, whereas macro-prudential regulation is being assessed as an alternative macroeconomic tool to deal with nancial imbalances. The paper...

I would like to thank the organizers for the privilege of discussing two of the fine papers presented here today. My assignment is to discuss Gaspar and Smets (2002) and Wolfers (2003), as well as to give my own view on how much monetary policy should take output into account and the best way of doing so. Let me start with the Gaspar and Smets paper. I find it very interesting and well worth st...

David T. Ellwood is a professor of public policy at the John F. Kennedy School of Government, Harvard University. This paper is a summary of Understanding Dependency: Choices, Conjidence, or Culture? a report prepared under contract no. HHS-0s-100-86-0021 for the Division of Income Security Policy (ISP), U.S. Department of Health and Human Services, David T. Ellwood and Robert Lerman, principal...

Adler, M. (2011). Well-being and fair distribution: Beyond cost-benefit analysis. Cambridge, UK: Cambridge University Press. Allcott, H., Mullainathan, S., & Taubinsky, D. (2014). Energy policy with externalities and internalities. Journal of Public Economics, 112, 72–88. Conly, S. (2012). Against autonomy: Justifying coercive paternalism. Cambridge, UK: Cambridge University Press. DellaVigna, ...