To keep up with rapidly changing conditions, business systems and their associated networks are growing increasingly intricate as never before. By doing this, network management and operation costs not only rise, but are difficult even to measure. This fact must be regarded as a major constraint to system optimization initiatives, as well as a setback to derived economic benefits. In this work ...

Limited observability is the assumption that economic agents can only observe a finite amount of information. Given this constraint, contracts among agents are necessarily finite and incomplete in comparison to the ideal complete contract that we model as infinite in detail. We consider the extent that finite contracts can approximate the idealized complete contracts. The objectives of the pape...

This paper investigates the characterization and sensitivity analysis of the life-cycle model of saving with uncertain lifetime and borrowing constraint first formulated by Yaari [Review of Economic Studies 32 (1965) 137–150]. Under mild conditions, terminal wealth depletion is shown to be an intrinsic property of the model. A three-step procedure for the sensitivity analysis is presented. Whil...

Complex economic models often lack the structure for the application of standard techniques in monotone comparative statics. Generalized monotonicity analysis (GMA) extends the available methods in several directions. First, it provides a way of finding parameter moves that yield monotonicity of model solutions. Second, it allows studying the monotonicity of functions or subsets of variables. T...

In the present paper we investigate a EOQ model for imperfect items under time variable linear demand. The defective items is being screened out by a 100 % screening process and then sold in a single batch by the end of the 100% screening process with a salvage price. The unsold perfect item during the cycle is sold at a different salvage price at the end of cycle. Two different types for cost ...

Economics has experienced an inflow of fresh ideas following the addition of elements from psychology into economic models. A recent literature incorporates intrapersonal tensions into these models. The present paper provides a step in this direction. Our basic premise is the existence of three types of brain-based conflicts: first, a conflict between the information available in different area...

In this paper, we develop a capacitated location-covering model considering interval values for demand and service parameters. We also consider flexibility on distance standard for covering demand nodes by the servers. We use the satisfaction degree to represent the constraint of service capacity. The proposed model belongs to the class of mixed integer programming models. Our model can be redu...