We consider a M/G/1 queue where the server may take repeated vacations. Whenever a busy period terminates the server takes a vacation of random duration. At the end of each vacation the server may either take a new vacation or resume service; if the queue is found empty the server always takes a new vacation. The cost structure includes a holding cost per unit of time and per customer in the sy...

A fundamental assumption in all sequential bargaining models is that when an offer is accepted the bargaining terminates with the implementation of that proposal. The proposer cannot change his mind; he is, in effect, committed to his proposal. In this short paper we explore the consequence of relaxing this (rather strong) commitment assumption. Our main result indicates that this commitment as...

Indeed, optio is Weaver who is credited with the origin of the term molecular biology in 1938. Development of luteinizing hormone releasing hormone neurones.

ROPONENTS of legislation to induce or require more banks to be members of the Federal Reserve System often argue that the existence of nonmember commercial banks creates problems for the conduct of monetary policy. Two of the most frequently mentioned of these problems are: First, the ratio of net demand deposits to bank reserves may become more variable as nonmember banks have a larger share o...

A discounted-sum automaton (NDA) is a nondeterministic finite automaton with edge weights, valuing a run by the discounted sum of visited edge weights. More precisely, the weight in the i-th position of the run is divided by λ, where the discount factor λ is a fixed rational number greater than 1. The value of a word is the minimal value of the automaton runs on it. Discounted summation is a co...

Poor individuals often exhibit higher discount rates than richer individuals, and negative income shocks have been linked to increases in discounting. However, it remains unknown whether this effect is causal, and whether is due to beliefs or preferences: increases in discount rates in poverty or after negative income shocks could either be due to (beliefs about) more severe environmental const...

While many studies document that the market risk premium is predictable and that betas are not constant, the dividend discount model ignores time-varying risk premiums and betas. We develop a model to consistently value cashflows with changing risk-free rates, predictable risk premiums, and conditional betas in the context of a conditional CAPM. Practical valuation is accomplished with an analy...

Background: Determining the optimum shipment quantity in a traditional production system is competitive business dimension, and developing reliable policy decisive for long-term objectives. Currently, significant research this domain has mainly focused on lot sizing perfect without considering imperfections processes logistics. It been well established that real inventory acts as an imperfectio...

This study presents some evidence of discount rate selection on goodwill impairment testing under the new requirements of FRS 36. The selection of discount rates is believed to be an important key factor that affects the outcome of impairment assessment, especially when using the method of value in use. This study objectively examines the Singapore listed firm’s selection of discount rates disc...