This paper is based on the traditional Austrian Theory of Capital which deals with expected values of future returns of investments over various periods of time. The longer the time period that elapses between the beginning of a production process and its end, the higher the (expected) productivity must be due to positive time preferences of individuals. This paper focuses on the uncertainty of...

Efficient and effective management of production cost is carried out by identifying the uncertainty in production planning in supply chain. Thus the determination of the uncertainty factors at various levels in a supply chain becomes inevitable so as to ensure minimal Cost for the manufacturing process. Minimizing the total supply chain cost is meant for minimizing labour, material and minimizi...

Despite the many touted benefits of nanotechnology, considerable uncertainty exists regarding full-scale production costs, occupational health risks, and future regulatory standards. Monte Carlo models were developed to investigate the implications of these uncertainties on high pressure carbon monoxide (HiPco) processes, a common single wall carbon nanotube (SWNT) production method. The health...

We analyze the effect of price caps on equilibrium production and welfare in oligopoly under demand uncertainty. We find that high price caps always increase production and welfare as compared to the situation without price cap. Price caps close to marginal cost may lead to zero production, depending on the nature of uncertainty. We characterize the optimal price cap and show that typically, th...

Supply Chain Management (SCM) refers to the problems where the decisions of supply, production and demand are integrated in a single framework. A typical supply chain faces uncertainty in terms of supply, production and demand. Therefore, SCM is largely about managing uncertainty and risks. This paper introduces a simulationand optimisation-based decision support system that helps the scheduler...

In this paper the impact of product market uncertainty on the optimal replacement timing of a production facility is studied. The existing production facility can be replaced by a technologically more advanced and thus more cost-effective one. We take into account strategic interactions among the firms competing in the product market by analyzing the problem in a duopolistic setting. We calcula...

According to the propositions in the information processing theory, this study tests the relationship between task uncertainty and three organizational design strategies, i.e., creation of lateral relationships, investment in information systems, and creation of self-contained tasks. Data from 125 North American manufacturing firms are used and business environment uncertainty is employed to me...

abstract. when a production facility is designed, there are various parameters affecting the number machines such as production capacity and reliability. it is often a tedious task to optimize different objectives simultaneously. the other issue is the uncertainty in many design parameters which makes it difficult to reach a desirable solution. in this paper, we present a new mathematical model...