In this paper, we establish a new preservation property of quasi-K-concavity under certain optimization operations. One important application of the result is to analyze joint inventory-pricing models for single-product periodic-review inventory systems with concave ordering costs. At each period, an ordering quantity and a selling price of the product are determined simultaneously. Demand is r...

This paper presents an inventory model for deteriorating items with stock-dependent selling rate under inflation and time value of money over a finite planning horizon. In the model, shortages are allowed and the unsatisfied demand is partially backlogged at the exponential rate with respect to the waiting time. We establish the theoretical results and provide an efficient solution procedure to...

UCT, the premier method for solving games such as Go, is also becoming dominant algorithm probabilistic planning. Out of five solvers at International Probabilistic Planning Competition (IPPC) 2011, four were based on UCT algorithm. However, while a UCT-based planner, PROST, won contest, an LRTDP-based system, Glutton, came in close second, outperforming other systems derived from UCT. These re...

We consider the problem of finding an n-agent joint-policy for the optimal finite-horizon control of a decentralized Pomdp (Dec-Pomdp). This is a problem of very high complexity (NEXP-hard in n ≥ 2). In this paper, we propose a new mathematical programming approach for the problem. Our approach is based on two ideas: First, we represent each agent’s policy in the sequence-form and not in the tr...

We study a two-level inventory system that is subject to failures and repairs. The objective is to minimize the expected total cost so as to determine the production plan for a single quantity demand. The expected total cost consists of the inventory carrying costs for finished and unfinished items, the backlog cost for not meeting the demand due-date, and the planning costs associated with the...